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Holly Thompson founded TWM Today to assist clients in reaching their life goals by providing objective financial guidance. Thompson Wealth Management is a fee-only financial advisory firm. We work solely for you and receive no commissions or compensation from any other source. This eliminates... More
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  • TWM Today: Wall Street
    House Vote Sends Finance Overhaul to Senate ~ The House agreed Wednesday to a sweeping rewrite of the nation's financial regulations, moving the initiative one step closer to becoming law. Focus now shifts to the Senate, where questions linger about whether Democrats have nailed down enough support from the handful of Republicans needed to overcome a likely filibuster. The Senate won't take up the bill until after the July 4 recess, creating an awkward pause in which the bill's opponents will have one last chance to derail it. (WSJ)

    Construction Spending Weak, but Better Than Expected ~ Total construction expenditures outperformed the Briefing.com consensus as actual spending declined 0.2% in May compared to an expected drop of 0.9%. The fall would have been slightly worse if not for a 0.4% pickup in public construction. Private construction expenditures fell 0.5%. The private residential construction data were at odds with the housing starts and retail sales releases. We anticipated that the weakness in housing starts coupled with the drop in building material purchases would drive residential construction down at least 1.0%.

    Dell: Upgrade Details ~ UBS upgraded DELL to Buy from Neutral and lowered their tgt to $15.50 from $17.50 saying they continue to believe DELL will be a beneficiary of an enterprise PC refresh that should begin in 2H10 and grow in 2011. They see concerns over PC industry softness driven mostly by consumer rather than enterprise as an aging enterprise installed base makes upgrades a greater priority. Firm sees limited downside risk from current levels as DELL is currently trading at 0.2x fwd EV/Sales, vs. the downturn in early '09 when it was trading at ~0.3x fwd EV/Sales (shares were $8). (Briefing)

    Mortgage Rates Drop to Lowest Rate in 50 Years ~ Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes. Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.That's down from the previous record of 4.69 percent set last week and the lowest since the mortgage company began keeping records in 1971. The last time they were cheaper was the 1950s, when most long-term home loans lasted just 20 or 25 years. (NASDAQ:CNBC)

    Tyler Tech Signs Multi-Solution Contract With the City of Madison, Wisconsin ~ Co announced that the City of Madison, Wisconsin, with a population of approximately 230,000, has signed a multi-solution agreement with Tyler for its Incode municipal court and Munis enterprise resource planning solutions. The agreement is valued at approximately $5.5 million. (Briefing)

     



     
    Tyler Tech signs multi-solution contract with the City of Madison, Wisconsin
    Co announced that the City of Madison, Wisconsin, with a population of approximately 230,000, has signed a multi-solution agreement with Tyler for its Incode municipal court and Munis enterprise resource planning solutions. The agreement is valued at approximately $5.5 million.
     


    Disclosure: Long TYL
    Tags: DELL, TYL
    Jul 01 4:23 PM | Link | Comment!
  • TWM Today: Wall Street
    Private Sector Adds Few Jobs ~ Private payroll gains were muted in June as small businesses cut jobs, according to data released Wednesday. Private-sector jobs in the U.S. increased by 13,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers. Economists had expected ADP to report a jobs gain of 60,000 for June. The estimated change in employment for May was revised to a gain of 57,000 from an increase of 55,000 first reported. (WSJ)

    Home Refinancing Up, Buying Demand Sinks ~ Refinancing drove total U.S. mortgage applications to an eight-month peak, as loan rates fell to or near record lows, but demand to buy homes sank toward 13-year lows last week, the Mortgage Bankers Association said on Wednesday. The U.S. housing market continued to deflate after a spring sales spree, fueled by now-expired federal tax credits of up to $8,000, robbed from summer home buying. The upside is now limited by unemployment stuck near 10%, heavy foreclosure supply and pent-up selling from owners just waiting for the right time to put their homes back on the market. Mortgage refinancing requests jumped 12.6% in the week ended June 25 to the highest level since May 2009, as average 30-year mortgage rates slid 0.08 percentage point to 4.67%, the industry group said. The 30 year loan rate flirted with the record low of 4.61% set in March 2009, according to the MBA's records dating back to 1990, while the 4.06% 15-year rate was an all-time lows. Refinancing drove total mortgage applications up by 8.8%, seasonally adjusted, last week. Nearly 77% of all loan requests were for a refinancing, the highest share since April 2009. (NASDAQ:CNBC)

    Celgene to Buy Abraxis in $2.9 Billion Deal ~ Celgene Corporation, the biopharmaceutical company, said Wednesday that it would buy Abraxid BioScience in a cash and stock deal that values the company at $2.9 billion. Celgene is buying Abraxis for its oncology treatments, including Abraxane, for breast cancer patients. “We are excited by the opportunity to leverage our clinical, regulatory and commercial capabilities to provide metastatic breast cancer patients with an innovative treatment in Abraxane,” said Bob Hugin, chief executive of Celgene. (NYSE:NYT)

    Starbucks at Oppenhiemer Conference ~ The U.S. biz is healthy, highly profitable and returning to growth. Non-GAAP operating margin was 17.7% in 1H10 and the co's long term-target is in the high teens. International has become increasingly important (now ~1/3 of the co). 1H10 international non-GAAP op. margin was 9.0%, long term target mid-to-high teens... Co sees further diversification going forward... Wifi will be free starting in July. In the fall, a partnership with YHOO will also allow free access to select subscription services, while at SBUX... VIA plans to take share from the $23 bln global instant and single serve market; instant coffee represents s higher mix of retail coffee sales internationally (U.K. 80%)... The target payout ratio of the dividend initiation is 35-40%. (Briefing)

    DoE Inventory Data ~ Department of Energy reports that crude oil inventories had a draw of 2007K (consensus is a draw of 1000K); gasoline inventories had a build of 537K (consensus is a draw of 400K); distillate inventories had a build of 2457K (consensus is a build of 950K).


    Disclosure: Long CELG
    Tags: CELG, ABII, SBUX
    Jun 30 1:43 PM | Link | Comment!
  • TWM Today: Wall Street
    Jobless Claims Drop From Two-Month High ~ The number of Americans applying for jobless benefits declined last week from a two-month high, pointing to an improvement in the labor market that is taking time to develop. Initial jobless claims decreased by 19,000 to 457,000 in the week ended June 19, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance fell, while those getting extended benefits rose.  (Bloomberg)

    Aircraft Orders Push Down Durable Goods ~ Demand for U.S. durable goods was pushed down by civilian aircraft in May, casting a shadow on an otherwise positive report. Durable-goods orders, after five consecutive monthly gains, decreased by 1.1% to a seasonally adjusted $192.01 billion, the Commerce Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast a decline of 1.5%. (WSJ)

    Supreme Court Rules Ex-Enron CEO Skilling to Get New Trial ~ Story delveloping. (NASDAQ:CNBC)

    Citigroup (NYSE:C) Announces Offer to Purchase $2.1B of Outstanding Notes ~ Co announces the commencement of offers to purchase for cash any and all of its notes. The notes have an aggregate principal amount outstanding of approx $2.1 bln. This action is part of a liability management strategy that utilizes availablee cash to retire older vintage debt nearing maturity. In February 2010, Citi completed the repurchase of $3.02 bln aggregate principal amount of its senior notes and, in May 2010, Citi completed the repurchase of $535.9 mln aggregate principal amount of its subordinated notes. (Briefing)

    Autodesk (NASDAQ:ADSK) Raises Q2 EPS and Rev Guidance ~ Co issues in-line guidance for Q2 (Jul), sees EPS of $0.25-0.28, excluding non-recurring items, vs. $0.27 Thomson Reuters consensus, up from $0.23-0.28; sees Q2 (Jul) revs of $445-460 mln vs. $454.78 mln Thomson Reuters consensus, up from $435-460 mln. Based on its business strategy and expectations about the global economy, the co set a target long-term business model of 12-14% compound annual revenue growth and non-GAAP operating margin of at least 30%. (Briefing)


    Disclosure: Long ADSK
    Tags: C, ADSK
    Jun 24 10:28 AM | Link | Comment!
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  • McDonald's $MCD reports Q4 earnings of $1.40/sh, $.01 better than estimate. Revs rose 2.0% yr/yr to $7.09 bln vs the $7.11 bln consensus.
    Jan 23, 2014
  • Norfolk Southern $NSC target raised to $110 from $98 at Cowen.
    Jan 23, 2014
  • Long hours & a fractious relationship with Pimco's founder prompted Mohamed El-Erian's resignation.http://cnb.cx/1dS6LNx
    Jan 23, 2014
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