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Mike Maher

 
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  • The ECB is considering capping peripheral bond yields by stepping in to buy the debt when its spread to German paper rises above a certain threshold, reports Der Spiegel. Draghi has complained that monetary policy transmission is broken, i.e., the ECB eases yet financial conditions tighten further in the periphery - this gives him his opening to buy government debt. A decision could come at the bank's September policy meeting. [View news story]
    From a German paper, with no sources named. Probably little more than political games, since Europe likely wont give ground without reform from the member-states.
    Aug 19 08:25 PM | 2 Likes Like |Link to Comment
  • 1 Gold Stock To Avoid With Alternative Options [View article]
    Shares of GBG got hammered because they announced they were short on cash, not because of the downgrade.
    Aug 17 02:19 PM | 3 Likes Like |Link to Comment
  • Well, that was quick: Facebook (FB -6.2%) has crashed through the $20 level on the day of its first lockup expiration, and is near its post-IPO lows. Other recent consumer Internet IPOs are also feeling the pain: GRPN -6%. ZNGA -2.6%. YELP -1.4%. (earlier[View news story]
    The August21 puts closed yesterday at $.50 and closed today at $1.16....
    Aug 16 04:42 PM | Likes Like |Link to Comment
  • MarkWest Energy (MWE +1.2%) shares sank on news of another secondary offering - its third of the year - but Jim Cramer sees an opportunity: "When a high-quality stock like MarkWest gets pounded courtesy of a secondary offering... you gotta pounce!" Cramer likes MWE's fundamentals, and the offerings could actually pay off as oil prices rise and if natural gas prices bounce back. [View news story]
    It's more tied to NGLs than dry gas, and prices of those took a beating over the last few months.
    Aug 16 04:36 PM | Likes Like |Link to Comment
  • MarkWest Energy (MWE +1.2%) shares sank on news of another secondary offering - its third of the year - but Jim Cramer sees an opportunity: "When a high-quality stock like MarkWest gets pounded courtesy of a secondary offering... you gotta pounce!" Cramer likes MWE's fundamentals, and the offerings could actually pay off as oil prices rise and if natural gas prices bounce back. [View news story]
    I'm worried about what the new units are going to do an already thin distribution coverage from Q2. The new projects coming online later in the year will add to DCF, but Q3 could be a bump in the road.
    Aug 16 12:24 PM | Likes Like |Link to Comment
  • Well, that was quick: Facebook (FB -6.2%) has crashed through the $20 level on the day of its first lockup expiration, and is near its post-IPO lows. Other recent consumer Internet IPOs are also feeling the pain: GRPN -6%. ZNGA -2.6%. YELP -1.4%. (earlier[View news story]
    I'm rolling my puts from Aug24 to sept17's now.
    Aug 16 11:04 AM | Likes Like |Link to Comment
  • Remember Ireland? The yield on its 9-year sovereign paper has fallen to its lowest level since October 2010 (before the bailout). Lower than Spain's similar-maturity yield for a couple of weeks, the spread widens a bit more. IRL +8.2% YTD. [View news story]
    Definitely. Greece has been a series of bail-outs and half solutions for 3 years already. As a people, the country is not willing to open up their economy, and take the cuts in government handouts that are necessary. Until they admit that they lived beyond their means for a decade, and now the bill is due, there will be no improvement in their economy.
    Aug 16 11:02 AM | Likes Like |Link to Comment
  • The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration - an additional 2B shares will become eligible to sell between now and next May, adding to the current float of 421M. [View news story]
    down 5% on heavy volume already
    Aug 16 09:59 AM | Likes Like |Link to Comment
  • Remember Ireland? The yield on its 9-year sovereign paper has fallen to its lowest level since October 2010 (before the bailout). Lower than Spain's similar-maturity yield for a couple of weeks, the spread widens a bit more. IRL +8.2% YTD. [View news story]
    Iceland defaulted, its a different ball game than the EU approach. Ireland is an export lead economy, with an educated, mobile, English speaking workforce, with very strong ties to both the US and British economies. Ireland has been pro-active in fighting the crisis from the get go, which is why Ireland, unlike Spain, Italy, or Greece, is on the upswing.
    Aug 16 09:03 AM | Likes Like |Link to Comment
  • The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration - an additional 2B shares will become eligible to sell between now and next May, adding to the current float of 421M. [View news story]
    Instagram is another company with 0 revenue. Its hard to make a monopoly case when Instagram doesnt have a business model.
    Aug 16 08:57 AM | Likes Like |Link to Comment
  • The bears are still piling in to Facebook (FB), the number of shares on loan to short sellers standing at 97M, up from 63M a month ago. One reason could be lockup expiration - an additional 2B shares will become eligible to sell between now and next May, adding to the current float of 421M. [View news story]
    Its still a $40 billion market cap whose business model is "we're going to monetize a bunch of views on mobile pages somehow." Its hard to be bullish when they dont get any revenue off mobile.
    Aug 15 10:50 PM | 2 Likes Like |Link to Comment
  • "We all live in an ATTizon duopoly now. And they will do with us what they please," writes Tero Kuittinen after looking at Verizon's (VZ, VOD) shared data plans. He sees the plans, which increase the minimum a smartphone user looking to upgrade has to pay to $90/month from a current $70/month, as an attempt to prevent voice/text revenues from being eroded by mobile apps (previous), and thinks they're fueled by a belief "Sprint and T-Mobile are now so weak they offer no effective competition." (also)  [View news story]
    I'm 20 miles outside NYC and switched from ATT because when they acquired Cingular, somehow my phone stopped getting service almost everywhere. Sprint and T-Mobile both have bad service where I am, and the coverage map on Sprint's website just shows a bunch of colors with no answer to my question of "will my phone have service or not."

    And the New York SMA is home to 17% of the population, and half of the top 10 richest counties in the US. Its a pretty important portion of the country to not have service in.
    Aug 15 05:08 PM | Likes Like |Link to Comment
  • More on Cisco's FQ4: Company promises to return at least 50% of free cash flow via dividends and buybacks. $1.8B worth of shares repurchased in FQ4 at average price of $16.62. Gross margin was 61.8%, down 150 bps Q/Q and 90 bps Y/Y. R&D and sales/marketing expenses both declined slightly Y/Y, but G&A +34%. Accounts receivable +10% Q/Q, inventories +11%, DSOs up 3 days. Deferred revenue rose by $240M to $12.88B. Earnings call at 4:30PM ET (webcast). CSCO +5.1% AH. (PR[View news story]
    Gross margin is still very high, given all the talk of how bad Europe is and of competition from smaller firms. The talk of capital returns to shareholders is huge, hopefully that dividend will continue to move higher, and more of the return will shift from the buyback to dividends, as the stock moves higher.
    Aug 15 04:57 PM | Likes Like |Link to Comment
  • The mREIT sector gets another downgrade - American Capital Agency (AGNC) is cut to Neutral at Macquarie which cites its high valuation amidst a weakening reinvestment environment (high MBS prices) and increased interest rate risk. Shares -0.5% premarket. [View news story]
    "Cut to neutral, price target is $32" Seems more like they are saying not to put new money in, because the upside is capped right now, which I agree with. However, with total dividends received and reinvested now approaching what I originally put into my position in AGNC, I'm not going to believe this analyst over the management team.
    Aug 15 10:32 AM | 1 Like Like |Link to Comment
  • Bernstein Research debunks the popular notion of shale gas extraction leading the U.S. away from the tyranny of imported crude oil. Its examination of the performance of Bakken shale oil wells shows per-well production on the decline, with wells often degrading into strippers in a mere six years. Bakken will become a 1M bbl/day field, but "the world will not find itself awash in oil." [View news story]
    Just listened to a presentation from the CEO of Magnum Hunter, he said they arent hedging nat gas because they see further upside to prices.
    Aug 13 10:59 PM | Likes Like |Link to Comment
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