TOP NEWS
MARKET CURRENTS
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7:14 AM Cisco (CSCO) is reaffirmed a Buy with $26 price target at Citigroup which says the firm's economic leverage is under-appreciated. More earnings surprises could drive the shares to $30, says the team. Cisco off 1% premarket, inline with the Nasdaq 100. Comment! [Tech]
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7:09 AM Nissan (NSANY.OB) says it will recall 841K vehicles due to a glitch with the steering wheel of the automaker's Micra compact model. The repair job will involve tightening a potentially misbehaving steering wheel bolt. Comment! [Consumer, Global & FX]
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7:08 AM The Fed trots out St. Louis' Jim Bullard who says it's been awhile since the FOMC discussed an exit from QE, and he doesn't think the group is about to start talking about it anytime soon. In fact, making Mr. Bullard nervous these days is inflation that is too low. S&P 500 futures are well off the lows, now -0.7%. Comment!
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7:02 AM "I'll take 'Kiss of Death Magazine Covers' for minus 7%, Alex," tweets a clever fellow as this week's The Economist cover shows Japan PE Shinzo Abe flying through the air like Superman. DXJ -6.9% premarket. Comment! [Global & FX]
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7:02 AM European regulators accept the concessions made by United Continental (UAL), Lufthansa (DLAKY.PK), and Air Canada (AIDIF.PK) on their existing agreement to share transatlantic routes. The carriers will give up airport slots in Frankfurt and New York City as part of the negotiated arrangement to open up competition. Comment! [Consumer]
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7:00 AM On the hour: S&P -0.79%. 10-yr +0.11%. Euro +0.22% vs. dollar. Crude -0.85% to $93.48. Gold +1.56% to $1388.75. Comment!
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6:56 AM General Motors (GM) says the Chevrolet Spark EV will have a starting price of $27,495 when it goes on sale in California and Oregon next month which will make it one of the budget leaders in the category. The model's price falls to $19,995 after factoring in the a $7,500 federal tax credit. Comment! [Consumer]
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6:56 AM Prepping for the government possibly classifying it as a "systematically important financial institution," AIG is on the lookout to hire a director with regulatory experience. On the list are those who have run regulated financials as well as former regulators, according to sources. It's a new regulatory day, and an insurance company whose board is heavy with insurance people won't cut it anymore. Comment! [Financials]
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6:52 AM More on Signet Jewelers' (SIG) FQ1: Same-store sales rose 6.4% Y/Y, led by a 10.2% gain by Kay in the U.S. E-commerce sales in the U.S. division increased 48% to $25.6M. Average transaction prices rose during the quarter. The retailer expects to open 70 to 80 new Kay and Jared stores in FY14. (PR) Comment! [Earnings, Consumer]
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6:48 AM S&P 500 futures (SPY) -1%, Nasdaq 100 (QQQ) -1% following the Nikkei's 7.3% crash overnight. In Europe, the Stoxx 50 (FEZ) -2.2%. Shanghai fell 1.2% as its PMI slipped into contraction territory for the first time in 7 months. Treasurys catch a bid, the 10-year yield off 5 bps to 1.99%, TLT +0.8% premarket. Comment!
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TOP ARTICLES7:15 AM ET THURSDAY MAY 23
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LATEST ARTICLES
- The Capitulation Trade Has Short Yen Positions Worried by Dean Popplewell • Comment!
- CFA Institute's Annual Conference: Investment Risk In The Real World by CFA Institute Contributors • Comment!
- Polar Petroleum - You Should Be A Bear by Christopher Drose • Comment!
- Cramer's Mad Money - The Miraculous Six Flags (5/22/13) by SA Editor Miriam Metzinger • Comment!
- 2 Tech Stocks With Recent Intensive Insider Buying by Markus Aarnio • Comment!
- Lender Processing Services Completes Its Rise From 'Foreclosuregate' by Dr. Duru • Comment!
- Spartan Stores: Small Grocery Retailer Should Be In Your Portfolio by Chris Katje • Comment!
- Seadrill's First Quarter Earnings Preview by Profit Fan • Comment!
- Dramatic Response To Bernanke by Marc Chandler • Comment!
- Cramer's Lightning Round - Oracle Is A Hard-Fought Name (5/22/13) by SA Editor Miriam Metzinger • Comment!
ALPHA-RICH IDEAS
- Seadrill Partners: A Stable Driller With Growth Potential by Power Hedge • 1 Comment
- Why I'm Buying Multiband Hand Over Fist by Inefficient Market • 24 Comments
- Silver Bay Realty Trust: A Disaster Waiting To Happen by Josh Arnold • 64 Comments
- A Sustainable And Growing 8% Yield Is Driving NorthStar Realty Finance's Outperformance by Dane Bowler • 31 Comments
- Ryland: 2 Major Reasons Why This Homebuilder Is At Least 30% Overvalued by Money Investor • 4 Comments
- hhgregg: Gravity Will Return After A 175% Run Over The Last 6 Months by Money Investor • 19 Comments
- The Hard Money Has Been Made In Imperial Holdings by Whopper Investments • 8 Comments
- AdCare Tender Offer Looks Improbable by Benjamin Mackovak • 6 Comments
- CST Brands: Valero's Spin-Off Is Currently Undervalued And Under-Earning by Daniel Phillips • 18 Comments
- TeraGo: The Cheapest Communications Cash Cow You've Never Heard Of by Cash Man • 48 Comments
MACRO VIEW
- The Capitulation Trade Has Short Yen Positions Worried by Dean Popplewell • Comment!
- Lender Processing Services Completes Its Rise From 'Foreclosuregate' by Dr. Duru • Comment!
- Dramatic Response To Bernanke by Marc Chandler • Comment!
- Market Volatility Spikes: Part II- Japanese Markets Go Wild by Pater Tenebrarum • Comment!
- Precious Metals Defy Logic by The Laptop Investor • Comment!
- Market Volatility Spikes: Part I- U.S. Markets by Pater Tenebrarum • Comment!
DIVIDENDS & INCOME
- Value Investors Should Not Overlook Volkswagen by Labutes IR • 3 Comments
- MLPs With Lower Leverage May Fare Better As Tapering Begins And Rates Rise by Richard Shaw • 1 Comment
- General Electric: Ideal Time To Add Shares Into Your Dividend Portfolio by Stock Gamer • 5 Comments
- The Cold, Hard Facts Behind Funding Your Retirement by Dennis Miller • 2 Comments
- Macy's: It Is Profitable To Buy 'Off The Rack' by Mark Piro • Comment!
- A Moderate-Risk, High-Reward Dividend Play by Tim McAleenan Jr. • 25 Comments
ETFs & PORTFOLIO STRATEGY
- CFA Institute's Annual Conference: Investment Risk In The Real World by CFA Institute Contributors • Comment!
- YCS Outperforms In A Yen Decline, Without Significant Tracking Error by Trust Intelligence • 4 Comments
- 4 Ideas For Today's Low-Inflation Environment by Russ Koesterich • Comment!
- Fed Tapering Comments Expose Stock Market Rally Weakness by Daniel R Moore • Comment!
- Risk Is Not A Singular Noun by Rich Willis • Comment!
- How Risky Are International Dividend ETFs? by Morningstar • Comment!
INVESTING IDEAS
- Polar Petroleum - You Should Be A Bear by Christopher Drose • Comment!
- Cramer's Mad Money - The Miraculous Six Flags (5/22/13) by SA Editor Miriam Metzinger • Comment!
- 2 Tech Stocks With Recent Intensive Insider Buying by Markus Aarnio • Comment!
- Spartan Stores: Small Grocery Retailer Should Be In Your Portfolio by Chris Katje • Comment!
- Cramer's Lightning Round - Oracle Is A Hard-Fought Name (5/22/13) by SA Editor Miriam Metzinger • Comment!
- Johnson & Johnson: At The Crossroads - Part IV - One Road To Higher Profit Growth Rates by Robert Honeywill • Comment!