TOP NEWS
- Late rally pushes stocks to solid gains Fri May 17, 20134:10 PM
- Kocherlakota: Rates still too high Fri May 17, 20132:33 PM
- Google on way to $1,000 per share Fri May 17, 20132:28 PM
- U.S. opens door for natural gas exports Fri May 17, 20131:05 PM
- Selling unabated in gold and the miners Fri May 17, 20133:22 PM
- Yen takes out new multi-year low Fri May 17, 20133:46 PM
- Consumer sentiment jumps in early May Fri May 17, 201310:35 AM
MARKET CURRENTS
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17 May, 9:35 PM Of the €208.2B in non-performing loans Spanish banks have refinanced (in order to avoid recognizing them as NPLs), nearly half are treated as though they are not distressed, dubiously eliminating the need to take provisions against them, FT says. These banks have until September to reclassify restructured loans under tougher guidelines, a mandate that will likely necessitate fresh provisioning at some institutions. Between them, Santander (SAN), BBVA, and Caixabank (CAIXY.PK) had €76B in refinanced debt on their books at the end of last year. 5 Comments [Financials, Global & FX]
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17 May, 9:17 PM The European investigation (I, II) into oil benchmark pricing raises rarely voiced questions about the appropriate way to set prices. FT notes that Platts' reporters cover 400+ wholesale energy prices everyday and the information available to them is limited to what commodities houses and Big Oil are willing to disclose. The process is complicated by the fact that myriad factors ranging from small discrepancies in quality to the type of hull on transport tankers, make the process inherently subjective. Nevertheless, the ordeal looks quite a bit like the Libor and ISDAFIX probes: a benchmark to which trillions of dollars of assets are tied is determined by key players away from the public eye. Comment! [Commodities, Energy]
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17 May, 8:42 PM If they "want to succeed in Vietnam, they have to change the way they serve," one customer says of Starbucks' (SBUX) brewing methods at its Ho Chi Minh City flagship store. Of all the markets into which the Seattle coffee giant has ventured, Vietnam may prove the most challenging given the country's rich coffee culture which dates back at least a century. Predictably however, business is good, and Howard Schultz says sales are already exceeding expectations despite locals' penchant for what WSJ describes as a "thick, oily" domestic brew. (Also: SBUX goes to Myanmar) 3 Comments [Consumer]
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17 May, 8:08 PM Yahoo (YHOO) update: The board will meet Sunday night to decide on a $1.1B all-cash deal for Tumblr, according to AllThingsD. (earlier) Comment! [Tech, Breaking News]
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17 May, 7:18 PM Yahoo's (YHOO) NYC event will be focused on Flickr updates rather than Tumblr, Bloomberg reports. This, of course, doesn't preclude a Tumblr deal from being announced at some other time. Marissa Mayer reportedly doubled the size of long-neglected Flickr's engineering team last summer, and new Flickr apps have launched to positive reviews. However, Flickr's online photo market share is now well below that of Facebook/Instagram. 1 Comment [Tech]
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17 May, 7:18 PM Shares of General Motors (GM +3.1%) eclipsed their $33 IPO price as investors speculate that the U.S. government may soon exit its ownership stake in the auto maker. The auto maker rose to $33.42 to close above its November 2010 IPO price for the first time since February 2011. U.S. taxpayers currently hold a 16.4% stake, or 241.7M shares worth about $8.08B. 3 Comments [Consumer, U.S. Economy]
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17 May, 6:50 PM UniPixel (UNXL -26%) crashed today in the absence of major news. Williams Financial's Cody Acree, who rates shares a Buy: "There were a lot of speculative things today, a lot of which probably got blown out of proportion." Among other things, Acree notes a recent Apple patent application for a large-display touch sensor panel (not a competitive threat), and the fact a 13G filed by Goldberg Capital notes the firm's stake in UniPixel has fallen to 5.25% (Acree says this is only due to dilution from the stock offering). Shares still +99% YTD. 13 Comments [Tech, On the Move]
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17 May, 6:44 PM If we keep moving up like this, stocks could go "parabolic," says Art Cashin. The stocks that have the heaviest short positions have already raced ahead of the indices, and they are going to crumble if we keep going. (Video). 3 Comments [U.S. Economy]
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17 May, 6:35 PM SolarCity's (SCTY +25.7%) big rally is "bubble-like," cautions Raymond James' Pavel Molchanov, who tried to temper enthusiasm about First Solar last month. Molchanov warns a June 11 lockup expiration could "open the floodgates." Credit Suisse also cited the lockup when downgrading shares on Tuesday; the firm estimates the lockup will increase SolarCity's tradable float by 8x-10x. (earlier) Comment! [Tech, On the Move]
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17 May, 6:28 PM AOL is reportedly laying off ~3% of Patch's 1,400-strong staff and (per a company memo) is giving the oft-criticized local news unit a new CEO. Patch COO Steve Kalin is the division's new chief; current CEO Jon Brod will return to AOL Ventures. AOL asserts the changes are aimed at improving content quality/engagement and allowing Patch to make good on promises it will be profitable by year's end. comScore estimates Patch, bogged by questions over how well a business focused on "hyper-local" content can scale, saw traffic rise 26% Y/Y in April to 13M monthly uniques. 1 Comment [Tech]
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LATEST ARTICLES
- Home Depot: Well Positioned To Grow by Fundamental Analyst • Comment!
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- Is J.C. Penney Beyond Help? by Jacob Steinberg • 1 Comment
- Steady Dividend Growth And Strong Earnings Are Why I'm Long Applied Materials by Heather Ingrassia • 1 Comment
- Why MannKind's Afrezza Will Succeed Where Pfizer Failed by Cory Renauer • 2 Comments
- 7 Reasons To Look At Undervalued Publisher John Wiley & Sons by Bram de Haas • Comment!
- Finding Value In The Lagging Materials Sector by Brad Kenagy • Comment!
- Intel Can Give Apple The Edge In Mobile by Gregory Stuckey • 5 Comments
- A Journey To Add Biotech To The Portfolio by Gregory Stuckey • 1 Comment
- Here's Why Amgen Shares Are Worth $117 To $126 Today by Stephen Barnes • Comment!
ALPHA-RICH IDEAS
- The Hard Money Has Been Made In Imperial Holdings by Whopper Investments • 6 Comments
- AdCare Tender Offer Looks Improbable by Benjamin Mackovak • 3 Comments
- CST Brands: Valero's Spin-Off Is Currently Undervalued And Under-Earning by Daniel Phillips • 16 Comments
- TeraGo: The Cheapest Communications Cash Cow You've Never Heard Of by Cash Man • 46 Comments
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MACRO VIEW
- Are We Close To Selling The USD? by Ralph Shell • 2 Comments
- Challenging Investor Assumptions About Emerging Markets by Dodd Kittsley • Comment!
- It's Official: Gold Is Now The Most Hated Asset Class by Pater Tenebrarum • 14 Comments
- American Industry Collapsing Into Q2 by Markos Kaminis • 6 Comments
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- The Fed, QE, The Economy, And Goldilocks 2.0 by Bill Luby • 1 Comment
DIVIDENDS & INCOME
- Steady Dividend Growth And Strong Earnings Are Why I'm Long Applied Materials by Heather Ingrassia • 1 Comment
- Diversify Into Singapore Dollars And Get 4% Yields With High Quality Baa3 Rated Bonds by Randy Durig • 1 Comment
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- As Coach Hikes Its Dividend, A Growth-By-Acqusition Strategy Could Be In The Works by Heather Ingrassia • 2 Comments
- MLPs And Interest Rates, How Right Is Mr. Gundlach? by Philip Trinder • 17 Comments
- In Search Of Income: Consider International Dividend Payers by Jeremy Schwartz • 1 Comment
ETFs & PORTFOLIO STRATEGY
- Tactical Portfolio Rebalancing Using Target Date Funds/ETFs by Gary Cheng • Comment!
- A Journey To Add Biotech To The Portfolio by Gregory Stuckey • 1 Comment
- The Most Misleading Words In Investing: You Can't Go Broke Taking A Profit by Tim McAleenan Jr. • 13 Comments
- Gold: Double Bottom Or Double Trouble? by David Fabian • 10 Comments
- Vanguard's New Emerging Markets Bond Fund: A Day Late And A Dollar Short? by Michael Fabian • Comment!
- USMV And The Low-Volatility Strategy by Morningstar • 2 Comments
INVESTING IDEAS
- Home Depot: Well Positioned To Grow by Fundamental Analyst • Comment!
- Why MannKind's Afrezza Will Succeed Where Pfizer Failed by Cory Renauer • 2 Comments
- Intel Can Give Apple The Edge In Mobile by Gregory Stuckey • 5 Comments
- Here's Why Amgen Shares Are Worth $117 To $126 Today by Stephen Barnes • Comment!
- Buy Or Sell Amazon On E-Commerce Sales Data? by Markos Kaminis • 2 Comments
- Oncothyreon A Speculative Buy by Northwest Trader • 2 Comments