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MARKET CURRENTS

  • 5:46 PM Facebook's (FB) monthly active advertiser base is now above 1M, the social networking giant boasts. Though impressive, that figure still suggests only a small portion of the 16M local businesses that have set up Facebook pages are buying ads. Facebook is hoping to reel in more clients in part by streamlining its ad offerings, creating more mobile-friendly business pages, and giving advertisers more data on its users' non-Facebook activity. BIA Kelsey estimates over half of U.S. small businesses promote themselves via Facebook, and 16% buy ads. Comment! [Tech]
  • 5:41 PM Canada hikes the liability cap for oil spills in Atlantic and Arctic waters to C$1B, up from the respective $30M and $40M limits under existing rules. The changes deal only with offshore activity, which is poised to accelerate as companies begin assessing prospective new fields on the East and Arctic coasts. Comment! [Energy]
  • 5:35 PM Notable earnings after Wednesday’s close: FNSR, JBL, MU, RHT Comment! [Earnings]
  • 5:30 PM Notable earnings before Wednesday’s open: FDX Comment! [Earnings]
  • 5:27 PM In a strategy shift, Nvidia (NVDA) is offering to license its Kepler GPU architecture, as well as "visual computing" IP, to other chipmakers looking to power Android hardware. Kepler serves as the foundation for much of Nvidia's PC/workstation GPU lineup, as well the GPU within its next-gen Tegra 5 (Logan) processor. Nvidia's move puts it into competition with GPU core licensing leader Imagination (IGNMF.PK), and also ARM's (ARMH) fast-growing Mali GPU core business. Potential licensees include Qualcomm (uses home-grown GPUs), Intel (ditto), Apple (Imagination client), and Samsung (Imagination and Mali client). Tough competition for Tegra may have influenced Nvidia's decision. 2 Comments [Tech]
  • 5:24 PM Long-term care provider AdCare Health Systems (ADK) says the NYSE has approved its plan to regain compliance with the exchange's continued listing standards was accepted. The NYSE granted until July 16, an extension for the company to regain compliance with respect to the Annual Report, and until August 15 for its 10-Q. Shares +1.7% AH. Comment! [Healthcare, On the Move]
  • 5:20 PM TransCanada (TRP), which says Keystone XL will be the safest pipeline ever built, isn’t planning to use infrared sensors or fiber-optic cables to detect spills along the system’s 2,000-mile path to Texas refineries from fields in Alberta, Bloomberg reports. The pipeline would have to be spilling more than 12K bbl/day before its currently planned internal spill-detection systems would trigger an alarm. 2 Comments [Energy]
  • 5:05 PM The next version of Surface RT (MSFT) will rely on both Qualcomm (QCOM) and Nvidia (NVDA) CPUs, Bloomberg reports. Though details are scant, one likely possibility is that Nvidia (the sole supplier for the first-gen RT) will power Wi-Fi-only models, and Qualcomm will power 3G/4G-capable models. The report comes as all signs indicate Qualcomm is set to displace Nvidia as the Nexus 7's CPU supplier. Meanwhile, Microsoft is selling the 32GB version of RT for just $199 (a 60% discount) to schools until Aug. 31, the latest in a string of aggressive promotions ahead of a refresh that could be announced at the upcoming BUILD conference. Comment! [Tech]
  • 5:00 PM PetroLogistics (PDH) says it's successfully completed repairs to its propane dehydrogenation facility and the facility has resumed propylene production. The facility was closed earlier this month for repairs on two of the eight reactors at the plant. Total costs for all completed repairs are expected to be less than $2.5M. Shares +0.7% AH. Comment! [Commodities, On the Move]
  • 5:00 PM On the hour: S&P +0.03%. 10-yr flat. Euro -0.03% vs. dollar. Crude +0.21% to $98.84. Gold -0.02% to $1366.75. Comment!
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TOP ARTICLES5:46 PM ET TUESDAY JUN 18
DIA 0.86%
SPY 0.74%
QQQ 0.74%
GLD -1.15%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 2.48%
BUND PIMCO Germany Bond Index ETF 1.33%

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