TOP NEWS
- Futures are flat ahead of FOMC, Bernanke
- Mortgage applications fall 3.3% last week
- Dish won't make new Sprint bid
- Alcatel-Lucent to slash costs, sell assets
- Verizon eyes Canada's Wind Mobile
- SEC to reduce "no admit, no deny" deals
- Adobe jumps after earnings beat
- News Corp publishing shares drop on debut
MARKET CURRENTS
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7:11 AM General Motors (GM) says it has no plans to invest more money in PSA Peugeot Citroen (PEUGF.PK). The two automakers share costs to jointly manufacture cars in Europe under a broad agreement. Comment! [Consumer]
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7:11 AM TripAdvisor (TRIP) buys mobile content provider GateGuru for an undisclosed amount. The deal will add more resources for the company's suite of flight products. Comment! [Tech, M&A]
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7:10 AM Stock index futures (SPY, QQQ) are little-changed after a big start to the week for stocks and ahead of the FOMC meeting results and Bernanke press conference this afternoon. Europe is marginally lower and the Nikkei gained 1.8% overnight. The 10-year Treasury yield is flat at 2.18%. Comment!
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7:07 AM Buy-rated AIG's price target is hiked to $56 from $52 by Deutsche's Joshua Shanker after meetings with Peter Hancock, the CEO of the insurer's P&C business. Shanker is confident AIG is on track to achieve a 90-95% combined ratio by 2015. A dividend - "modest," but more than "nominal" - and continued share repurchases are looking more certain for 2013. Shares +0.5% premarket. Comment! [Financials]
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7:02 AM Smog-infested Shijiazhuangn in China announces a plan to limit automobile sales of new vehicles to 100K this year and only allow households to to own at most two cars in an effort to improve air quality. Automobile analysts think more cities in China could be forced to limit the growth of automobiles due to worsening air pollution. The measures could put the brakes on some of the most ambitious plans of automakers (F, TM, FIATY.PK, HMC, NSANY.OB, VLKAY.PK, DDAIF.PK) for the country. Comment! [Consumer, Global & FX]
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7:01 AM MBA Mortgage Applications: -3.3% vs. +5.0% last week. Comment! [U.S. Economy]
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7:01 AM American Capital Mortgage (MTGE) gained 2.4% AH following an 11% cut in its quarterly dividend to $0.80/share, an annualized yield of 15.8% based on yesterday's close. Previous: SIster company American Capital Agency cuts dividend 16%. (PR) Comment! [Financials, On the Move, Dividends]
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7:00 AM Credit Suisse initiates coverage on Coca-Cola (KO) with an Outperform rating. Comment! [Consumer]
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6:58 AM Tesla Motors (TSLA) announces a partial recall of the Model S to address a potential defect with a mounting bracket in the second row seat. Vehicles manufactured between May 10, 2013 and June 8, 2013 are covered by the recall. Comment! [Consumer]
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6:56 AM American Capital Agency (AGNC) gains 2.5% premarket after cutting its quarterly dividend 16% to $1.05/share, a 16.6% annualized yield based on last night's close, suggesting the cuts aren't over with. SA Pro's Dane Bowler a month ago suggested an annual payout of about $3.50 as a "sustainable" level for the dividend. (PR) Comment! [Financials, Dividends, On the Move]
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TOP ARTICLES7:13 AM ET WEDNESDAY JUN 19
PORTFOLIO
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LATEST ARTICLES
- The Fed Is Between A Bubble And A Hard Place by James A. Kostohryz • Comment!
- Marking Time Ahead Of The Fed by Marc Chandler • Comment!
- Applephoria Is Translating Into Lost Opportunities For Investors by Money Investor • Comment!
- Portfolio Managers Will Be Selling These Stocks In 2 Weeks by Mark Gomes • Comment!
- Microsoft And The Gaming Console Battle by Harlan Kessler • Comment!
- Security Breach Overshadows BlackBerry Quarterly by Ziffster • 14 Comments
- Myriad Genetics' Wild Ride: False Assumptions Whipsaw Stock by Joshua Anderson • 1 Comment
- Gevo: A Fundamentally Sound Company With The Potential For A Triple by Dallas Salazar • 1 Comment
- Cramer's Lightning Round - We've Been Buying The Heck Out Of Applied Materials (6/18/13) by SA Editor Miriam Metzinger • Comment!
- Should Income Investors Buy The Tech Sector's Fastest Growing Dividends? by Black Coral Research • Comment!
ALPHA-RICH IDEAS
- Penn Virginia: Strong Value Upside Driven By Quality Of Eagle Ford Assets by Richard Zeits • Comment!
- Red Hat: Take Advantage Of Investors Being Offsides For 10%+ Move This Week by Josh Burwick • Comment!
- Columbia Sportswear: You Can Buy The Clothes But Not The Stock by Money Investor • Comment!
- Failed Titanic Sale Won't Sink Premier Exhibitions by Whopper Investments • 5 Comments
- American Vanguard Should Reap A Better Multiple by Stephen Simpson • 2 Comments
- Vera Bradley: Fashionable Growth At A Great Price by Josh Arnold • 4 Comments
- ChipMOS: Stock Remains Dirt Cheap, 50%+ Upside By Year End by Valuable Insights • 10 Comments
- Humana: Misunderstood And 35% Undervalued by Mike Williams • 7 Comments
- Cray Still A Strong Buy, Only Cheaper by Vince Martin • 4 Comments
- Jewett-Cameron Trading Company: Cheap And Consistent Buybacks by Robert Majek • 1 Comment
MACRO VIEW
- The Fed Is Between A Bubble And A Hard Place by James A. Kostohryz • Comment!
- Marking Time Ahead Of The Fed by Marc Chandler • Comment!
- 3 Highly Profitable Silver Companies That Investors Should Consider by Ben Kramer-Miller • Comment!
- A Credit Analysis For Coal Mining Companies by Hugh Fan • 1 Comment
- Market Measures Of Inflation And What They Are Saying by Robert Wagner • 3 Comments
- 25 Years Of Real Estate In One Chart by Pater Tenebrarum • Comment!
DIVIDENDS & INCOME
- Targa Resources For Supercharged MLP Dividend Growth And No Tax Headaches by Tim Plaehn • Comment!
- Brookfield Real Estate Services - 9% Yield From A Franchiser by Safety In Value • Comment!
- The Financial Innovation Of Ashford Hospitality's Spin-Off by Dane Bowler • 1 Comment
- American Capital Agency's Dividend Cut Is Good News For mREIT Investors by CorvetteKid • 2 Comments
- Add A Faucet To Your DRIP by Adam Aloisi • 5 Comments
- Cedar Fair Poised For A Record Year by Crunching Numbers • Comment!
ETFs & PORTFOLIO STRATEGY
- Why Infrastructure ETFs Are Overrated by Gary Gordon • 1 Comment
- BNDX: A Revolution In Diversification by Alex Bentley • Comment!
- Nuveen Has Very Little Exposure To Detroit Muni Meltdown by Holmes_Osborne • Comment!
- Using DXJ To Monitor Developments In Japanese Equities, Currency And Risk by Bill Luby • Comment!
- Tail Risk Parity: The Quest For A Crash-Proof Portfolio by AllianceBernstein • 3 Comments
- Managing Equity Risk: Some Rules For The Road by AllianceBernstein • Comment!
INVESTING IDEAS
- Penn Virginia: Strong Value Upside Driven By Quality Of Eagle Ford Assets by Richard Zeits • Comment!
- Microsoft And The Gaming Console Battle by Harlan Kessler • Comment!
- Myriad Genetics' Wild Ride: False Assumptions Whipsaw Stock by Joshua Anderson • 1 Comment
- Gevo: A Fundamentally Sound Company With The Potential For A Triple by Dallas Salazar • 1 Comment
- Red Hat: Take Advantage Of Investors Being Offsides For 10%+ Move This Week by Josh Burwick • Comment!
- Cramer's Lightning Round - We've Been Buying The Heck Out Of Applied Materials (6/18/13) by SA Editor Miriam Metzinger • Comment!