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Mike Maher

 
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  • More on Facebook's Q2: Monthly active users (MAUs) were 955M at end of June, +6% Q/Q and +29% Y/Y. Mobile MAUs were 543M, +11% Q/Q and +67% Y/Y. Ad revenue +14% Q/Q and +28% Y/Y (was 37% in Q1), 84% of total. Payments revenue +3% Q/Q (no Y/Y data), indicating a major slowdown. Capex +213% Y/Y to $413M. Operating cash flow of $129M, -47%. R&D and sales/marketing expenses up significantly. FB reverses course, now -8.7%. ZNGA -4.6%. (PR; call transcript)  [View news story]
    Does anyone know off the top of their head when the lockup for insiders expires? I thought i remember reading it was shorter than a standard IPO, but I may be mistaken. I'd imagine thats the next catalyst for the stock to head lower.
    Jul 26 05:18 PM | 1 Like Like |Link to Comment
  • The EPA issues a statement saying it's completed tests on drinking water in the Pennsylvania village of Dimock showing the water is safe to drink. Residents and anti-drilling groups had claimed that Cabot Oil & Gas (COG) had polluted the local aquifer through its gas drilling using highly controversial fracking methods. COG issues a reply, saying it's pleased with the decision, which mirrors similar findings from tests of its own, as well as those conducted by Pennsylvania state agencies.  [View news story]
    Nope, I'm implying that because I do not study aquifers or rock formations or mineral extraction all day, I want for studies conducted by people who do to form an opinion. With no expert knowledge on the subject, I rely on facts. The facts are: the industry says it is safe, the EPA says it is safe, and in the decades this practice has been done I do not know of any contaminated water wells. The few wells that had been allegedly polluted saw the EPA do testing and drop its claims.
    Jul 26 09:06 AM | Likes Like |Link to Comment
  • The EPA issues a statement saying it's completed tests on drinking water in the Pennsylvania village of Dimock showing the water is safe to drink. Residents and anti-drilling groups had claimed that Cabot Oil & Gas (COG) had polluted the local aquifer through its gas drilling using highly controversial fracking methods. COG issues a reply, saying it's pleased with the decision, which mirrors similar findings from tests of its own, as well as those conducted by Pennsylvania state agencies.  [View news story]
    Its amazing how all these people, with no knowledge of geology, aquifers, or oil drilling, suddenly became experts on the subject overnight, isn't it???
    Jul 25 09:47 PM | 3 Likes Like |Link to Comment
  • Dendreon (DNDN) +6.9% - although down from earlier highs - on rumors it might be trying to sell itself, with Celgene (CELG -0.2%) one name being mooted. Feeding the speculation beast is new CEO John Johnson working from New Jersey even though the company is based in Seattle.  [View news story]
    Trying to sell the firm after shares fall 80% from the 52-week high seems like a poor strategy.
    Jul 24 11:44 AM | Likes Like |Link to Comment
  • Bank of America (BAC +0.3%) is posting a small gain on an ugly day for financials, thanks to positive comments from JPMorgan. The remarks come as BofA reports it reduced its ATM footprint by 9%, or 1,536 units, in 1H, in large part by removing most of the systems installed at U.S. gas stations and malls. The removals are part of BofA's efforts to produce $8B in expense cuts, and to focus on its most profitable clients.  [View news story]
    Also Walnut Place lifted its objection to that $8.5 billion settlement. That removes some uncertainty around the name.

    http://reut.rs/PKSP6U
    Jul 23 03:16 PM | 2 Likes Like |Link to Comment
  • Economists Menzie Chinn and Jeffry Frieden argue that as debt is the major factor dragging on economic growth, inflation should be allowed to rise. This "would reduce the real burden of debt on households, corporations and governments, spurring both investment and consumption." However, while the Chicago Fed's Charles Evans supports the idea, Ben Bernanke doesn't. (Summary)  [View news story]
    The waterways, locks and damns in this country need massive amounts of repair/improvements, and the bridges across major waterways all are likely coming to the end of their useful lives. A more efficient electric grid could help too. However, the oil and gas industry builds its own infrastructure, without government handouts, so I'm unsure the government should spend to improve electricity transmission.
    Jul 22 09:07 PM | 2 Likes Like |Link to Comment
  • Economists Menzie Chinn and Jeffry Frieden argue that as debt is the major factor dragging on economic growth, inflation should be allowed to rise. This "would reduce the real burden of debt on households, corporations and governments, spurring both investment and consumption." However, while the Chicago Fed's Charles Evans supports the idea, Ben Bernanke doesn't. (Summary)  [View news story]
    Gold is an inflation hedge. And QE 1 and QE 2 and the coming QE 3 are dumping tons of dollars over the financial markets...
    Jul 22 09:03 PM | Likes Like |Link to Comment
  • Economists Menzie Chinn and Jeffry Frieden argue that as debt is the major factor dragging on economic growth, inflation should be allowed to rise. This "would reduce the real burden of debt on households, corporations and governments, spurring both investment and consumption." However, while the Chicago Fed's Charles Evans supports the idea, Ben Bernanke doesn't. (Summary)  [View news story]
    The economy is not a fruit tree, or a year based on the sun and pattern of the earth. We are deleveraging (reduction in debt), but that doesn't mean we need higher interest rates and deflation to to get there.

    The global economy broke again in 2008, that doesnt help the 36 year cycle theory. The Great Depression only really ended due to WW2. Its hard to say that that was some sort of natural cycle, and not man made. The problems we face today are from the folly of men, both individually and on the national level, who took on too much debt and ignored the fact it would come due. The economy falters because of greed, and rises again because of greed.
    Jul 22 04:25 PM | 1 Like Like |Link to Comment
  • Economists Menzie Chinn and Jeffry Frieden argue that as debt is the major factor dragging on economic growth, inflation should be allowed to rise. This "would reduce the real burden of debt on households, corporations and governments, spurring both investment and consumption." However, while the Chicago Fed's Charles Evans supports the idea, Ben Bernanke doesn't. (Summary)  [View news story]
    Falling prices and higher interest rates aren't going to jump start the economy, they are going to cause people and businesses to further delay purchases and investments.
    Jul 22 12:22 PM | 1 Like Like |Link to Comment
  • Food and water scarcity: Call it an alarmist's investment theme for the future. As weather conditions induce a "supply shock" across much of the agricultural spectrum, commodity and natural resource investors insist that it reinforces the thesis that the world's resources are being stressed to the breaking point. “You can’t triple a population in a lifetime without consequences,” says Jeremy Grantham. Supply simply can't keep up with demand, and our hungry and thirsty world just keeps growing.  [View news story]
    These sorts of leaps forward in farm productivity that the US has seen are not being seen in China, India, or Africa yet. The US has been beginning to export our knowledge of both farming and raising livestock to these regions, and they will become more efficient as modern technology replaces the plow and ox. I think the last number I saw was that farms in the US produce something like 5 times as much corn per acre as China currently does. Those gaps will close.

    Malthus predicted we'd run out of food some 200 years ago, these sort of doomsday predictions forget that humans have become quiet adept at adapting.
    Jul 21 02:00 PM | 6 Likes Like |Link to Comment
  • The 2 Most Tax Efficient Investments In The MLP Space [View article]
    Interesting tax theory, I hadnt thought of that. My theory for the discrepancy was that because KMR forces dividend re-investment, with no possible switch over to cash payments, people discount the shares for the lack of choice. For example, if in 30 years time I retire and would like to live off the income of my MLPs, rather than reinvest the distributions, I can switch to collecting cash from KMP. I cannot elect to receive cash with KMR, so its less favorable for someone thinking along those lines.
    Jul 20 12:39 PM | Likes Like |Link to Comment
  • More on Jobless Claims: We'll call it a wash as the big jump higher makes up for last week's (holiday and auto factory induced) big decline. The underlying trend for employment growth remains a sluggish one. S&P futures give up some of their morning gains, +0.3%. The 10-year Treasury +1.7 bps to 1.51%.  [View news story]
    These are still horrible numbers almost 3 years after the end of the recession. Don't worry though, unless congress comes to an agreement in the next 5 months to prevent the automatic cuts in spending and tax raises that have been put in place, we'll go back into recession, lose another 700,000 to a million jobs, and get a chance to try this whole recovery thing again!

    Smart fiscal policy would have had the US growing at 3%+ already. Close tax loopholes. Cut wasteful spending. Let companies bring foreign earnings back into the US tax free. Fund public private partnerships to fix the crumbing infrastructure in the country. This isn't rocket science, its economics, the dismal science!
    Jul 19 08:53 AM | Likes Like |Link to Comment
  • More on Morgan Stanley (MS): The company posted an additional $2.9B in collateral as of June 30 because of the Moody's ratings downgrade. The total amount that could have been called was $6.3B. Shares -4.7% premarket.  [View news story]
    That hit to revenues is very troubling. Clients must have backed away because of the debt downgrade looming overhead.
    Jul 19 08:26 AM | Likes Like |Link to Comment
  • Premium To Book Value Encourages Secondary Offering At American Capital Agency [View article]
    They'll probably discuss this in either the actual earnings release or the Q+A after the call. With the limited info they gave, there's really no way to know anything outside of what they said.
    Jul 19 08:22 AM | Likes Like |Link to Comment
  • More on Verizon (VZ -1.5%) Q2: cash flow from op activities +20.1% to $9.3B. Wireless: service revenues +7.3%, retail service revenues +8.6%, data revenues +18.5%, 1.2M retail net customer additions, 94.2M total retail customers. Wireline: consumer revs +2.5%, highest in several years; ARPU tops $100/month; 134K FiOS Internet, 120K FiOS Video net additions; 5.1M FiOS Internet, 4.5M FiOS Video customers. (PR)  [View news story]
    Looks like a good quarter, at a quick glance I don't see why the stock is down.
    Jul 19 08:19 AM | Likes Like |Link to Comment
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