The selling pressure seen by Arena Pharmaceuticals (ARNA -16.4%) remains intense, as shares give back a healthy chunk of their recent gains. Possibly hurting Arena's cause is an article from SA's Shane Blackmon, who notes Arena's rally has been fueled by short-covering (22% of the float was shorted as of May 31), and argues "a bear raid seems inevitable" ahead of the FDA's expected June 27 decision on the company's Locaserin weight-loss drug. [View news story]
Not if Qnexa is approved within the next 12 months as well.
The selling pressure seen by Arena Pharmaceuticals (ARNA -16.4%) remains intense, as shares give back a healthy chunk of their recent gains. Possibly hurting Arena's cause is an article from SA's Shane Blackmon, who notes Arena's rally has been fueled by short-covering (22% of the float was shorted as of May 31), and argues "a bear raid seems inevitable" ahead of the FDA's expected June 27 decision on the company's Locaserin weight-loss drug. [View news story]
People are concerned a delay is coming. It is a definite possibility. Nothing is a guaranteed grand slam.
The newly-released annual survey from J.D. Power on customer satisfaction in the auto industry shows Ford (F +0.8%) and Chrysler (FIATY.PK) slipping lower with their brands, while Toyota's (TM +0.4%) Lexus retains its top ranking. Foreign names largely dominated the list, with Jaguar (TTM +1.9%), Porsche (POAHY.PK), Cadillac (GM -1.9%), and Honda (HMC -0.1%) all showing strong. The poor result for Ford seems to emanate from its MyFord Touch entertainment system, which presented a myriad of issues for confused owners. [View news story]
Which results and percentage are you looking at? According to the link the IQS chart shows Cadilllac had 80 problems/100 vehicles and Ford had 118 problems/100 vehicles.
Facebook (FB) is adding a subscription billing option for games offered on its site. Thus far, Zynga (ZNGA) and other Facebook game developers have generally relied on virtual goods purchases to produce revenue. Subscriptions could prove crucial to Facebook's efforts to boost Payments revenue amidst signs growth is slowing, in part by expanding the use of Payments services for non-gaming transactions. [View news story]
France gets downgraded to BBB+ from A- by Egan-Jones. "Exempted" thus far from the rise in funding costs, "as the crisis evolves, we expect that France will be pressured ... Hollande will be under pressure to keep campaign promises which will ultimately hurt credit quality." [View news story]
Just like the last Egan-Jones downgrade, this one is very vague and useless.
Facebook's new high-growth market: kids? Facebook (FB) is apparently developing technology that would let the under-13 set use the site with parental supervision, a move that could explode Facebook's user base while outraging some privacy advocates. It's unclear when or if FB will roll out the service. [View news story]
Sounds like Myspace to me. Good night FB, your time is nearing an end. I feel bad for the people who hoped to hold FB stock for their lifetime and become millionaires.
FB seems to be missing the bigger picture. A big user base isn't the problem. Turning that user base into a revenue and income stream is the problem. You can theoretically have every person on the planet signed up for FB and still bring in zero dollars. Eventually companies will realize that paying for ads on FB is not returning anything.
Apple's (AAPL) Siri - loved by some, loathed by others - will be making its way to the iPad with the release of iOS 6, 9to5 Mac reports. It's added Apple is beta-testing Siri on both the latest iPad and the iPad 2, though it will likely only be available on the former. Nuance (NUAN) and Yelp (YELP) would benefit (I, II) from Siri's iPad debut. [View news story]
P already has that covered very well. Siri is late to the party and nobody will be home.
Buying Nokia Below $3 Is Like Buying Ford Below $2 [View article]
I think somebody mentioned this, but it is important to note that it is very difficult to compare F of 2009 and NOK of 2012. F of 2009 was at the tail end of a market collapse so of course the share price will be beyond oversold. In fact dozens of blue chip stock should have bought up hand over fist in 2009.
NOK of 2012 is, well, below its 2009 low and at the tail end of a 3 year rally. But while most stocks have been soaring for 3 years, NOK has been on a nice slow downward trend with no end in sight. I also do not take comfort in a company with 130 thousand employees and $40 billion in revenues. Employees can easily be fired in droves. I don't know what NOK's income statement and balance sheet look like since I will not be buying or even thinking about buying NOK, but I imagine it looks something like this: shrinking margins across the board, choppy income, and worsening liquidity ratios.
More on the class-action suit against Facebook and Morgan Stanley: The firm handling the suit previously won $7B from Enron. Its complaint alleges remarks made in Facebook's S-1 about its ad outlook were "untrue statements" in light of reports an exec told analysts to lower their forecasts. Particularly incriminating, if true, are reports institutional demand fell due to the disclosure. That would make Facebook's situation the polar opposite of what may have recently happened with Groupon. [View news story]
Sounds like the S-1 gave proper warnings to me. FB warns of all the possible dangers of investing in the company. My question is do analysts have to publicly disclose changes in their outlook for private companies? Since FB was technically still a private firm up until the IPO. And analyst's recommendations are based on their own research; which can be correct but also could be flawed. It seems like the lawsuit doesn't have too much substance. I hope the judge does his job.
We will probably see a small fine that grossly undervalues what MS should pay and a of slew of resignations/layoffs. Somebody should be getting blacklisted from the securities industry unless the SEC and FINRA don't uphold their own values...
Analysts at Facebook's (FB) lead underwriters cut their revenue estimates ahead of the IPO, reports Reuters, passing the information on to a few of their key clients. "My biggest hedge fund client told me they lowered their numbers right around mid-roadshow," says an IPO researcher. He still bought the issue, he says, but flipped it immediately and went short. Shares -3.8% premarket. [View news story]
People can sue all they want. They won't win a dime.
FB was a complicated deal and non-professional traders should have stayed away at all costs. I couldn't believe my ears to hear people that have never bought public equities before were buying/trying to buy FB on the IPO day.
One of the reasons for Facebook's (FB) less-than-stellar performance today may be due to the fact that the system became so clogged that traders backed away, says CNBC's David Faber. The big mid-day drop - from $40 to $38 - apparently happened because the Nasdaq temporarily stopped taking orders at one point, which created enough uncertainty that traders on many desks stopped trading the shares altogether. The SEC has launched an investigation into the issue. (video) [View news story]
I'm still confused at who was buying or trying to buy. My wife said the morning news was saying people who've never bought stocks were the ones buying and/or trying to buy. That is reckless in my opinion. Regardless of what happens to FB, your first stock should not be something like FB. I understand you could think, "well, I use Facebook everyday and all my friends use Facebook everyday so it must be the next $1000 stock."
Of course then again, I am sure people said that about GOOG and plenty of other long term bellwethers...
First no Facebook, now no Super Bowl, as General Motors (GM -1.6%) decides advertising in next year's Super Bowl would prove too costly. GM is in the process of evaluating all its media properties in an effort to maximize the efficiency of its ad budget, but the automaker says it isn't cutting back; GM spent $4.47B on advertising last year. [View news story]
Similar to how Mercedes is a standard car in many parts of the world, but in America they are top of the line.
Expect denials soon, but sources says Angela Merkel suggested to the Greek president the country hold a referendum on continued use of the euro at next month's elections. Syriza: Merkel is treating Greece as a "Protectorate." New Democracy: Merkel proposal "unfortunate." The German Chancellor has managed to unite the feuding Greek parties. [View news story]
Sounds like a bunch of immature teens. They want their parents to give them everything and anything while doing whatever they want regardless of the consequences.
The selling pressure seen by Arena Pharmaceuticals (ARNA -16.4%) remains intense, as shares give back a healthy chunk of their recent gains. Possibly hurting Arena's cause is an article from SA's Shane Blackmon, who notes Arena's rally has been fueled by short-covering (22% of the float was shorted as of May 31), and argues "a bear raid seems inevitable" ahead of the FDA's expected June 27 decision on the company's Locaserin weight-loss drug. [View news story]
The selling pressure seen by Arena Pharmaceuticals (ARNA -16.4%) remains intense, as shares give back a healthy chunk of their recent gains. Possibly hurting Arena's cause is an article from SA's Shane Blackmon, who notes Arena's rally has been fueled by short-covering (22% of the float was shorted as of May 31), and argues "a bear raid seems inevitable" ahead of the FDA's expected June 27 decision on the company's Locaserin weight-loss drug. [View news story]
The newly-released annual survey from J.D. Power on customer satisfaction in the auto industry shows Ford (F +0.8%) and Chrysler (FIATY.PK) slipping lower with their brands, while Toyota's (TM +0.4%) Lexus retains its top ranking. Foreign names largely dominated the list, with Jaguar (TTM +1.9%), Porsche (POAHY.PK), Cadillac (GM -1.9%), and Honda (HMC -0.1%) all showing strong. The poor result for Ford seems to emanate from its MyFord Touch entertainment system, which presented a myriad of issues for confused owners. [View news story]
Facebook (FB) is adding a subscription billing option for games offered on its site. Thus far, Zynga (ZNGA) and other Facebook game developers have generally relied on virtual goods purchases to produce revenue. Subscriptions could prove crucial to Facebook's efforts to boost Payments revenue amidst signs growth is slowing, in part by expanding the use of Payments services for non-gaming transactions. [View news story]
France gets downgraded to BBB+ from A- by Egan-Jones. "Exempted" thus far from the rise in funding costs, "as the crisis evolves, we expect that France will be pressured ... Hollande will be under pressure to keep campaign promises which will ultimately hurt credit quality." [View news story]
Facebook's new high-growth market: kids? Facebook (FB) is apparently developing technology that would let the under-13 set use the site with parental supervision, a move that could explode Facebook's user base while outraging some privacy advocates. It's unclear when or if FB will roll out the service. [View news story]
FB seems to be missing the bigger picture. A big user base isn't the problem. Turning that user base into a revenue and income stream is the problem. You can theoretically have every person on the planet signed up for FB and still bring in zero dollars. Eventually companies will realize that paying for ads on FB is not returning anything.
Apple's (AAPL) Siri - loved by some, loathed by others - will be making its way to the iPad with the release of iOS 6, 9to5 Mac reports. It's added Apple is beta-testing Siri on both the latest iPad and the iPad 2, though it will likely only be available on the former. Nuance (NUAN) and Yelp (YELP) would benefit (I, II) from Siri's iPad debut. [View news story]
Buying Nokia Below $3 Is Like Buying Ford Below $2 [View article]
NOK of 2012 is, well, below its 2009 low and at the tail end of a 3 year rally. But while most stocks have been soaring for 3 years, NOK has been on a nice slow downward trend with no end in sight. I also do not take comfort in a company with 130 thousand employees and $40 billion in revenues. Employees can easily be fired in droves. I don't know what NOK's income statement and balance sheet look like since I will not be buying or even thinking about buying NOK, but I imagine it looks something like this: shrinking margins across the board, choppy income, and worsening liquidity ratios.
Hewlett-Packard (HPQ): FQ2 EPS of $0.98 beats by $0.07. Revenue of $30.69B (-3% Y/Y) beats by $770M. Expects FQ3 EPS of $0.94-$0.97, below $1.02 consensus. Expects FY12 EPS of $4.05-$4.10, above $4.03 consensus. Shares +7.1% AH. (PR) [View news story]
More on the class-action suit against Facebook and Morgan Stanley: The firm handling the suit previously won $7B from Enron. Its complaint alleges remarks made in Facebook's S-1 about its ad outlook were "untrue statements" in light of reports an exec told analysts to lower their forecasts. Particularly incriminating, if true, are reports institutional demand fell due to the disclosure. That would make Facebook's situation the polar opposite of what may have recently happened with Groupon. [View news story]
Massachusetts subpoenas Morgan Stanley over the Facebook IPO amid allegations about leaked negative views. MS -1.4% AH. [View news story]
Analysts at Facebook's (FB) lead underwriters cut their revenue estimates ahead of the IPO, reports Reuters, passing the information on to a few of their key clients. "My biggest hedge fund client told me they lowered their numbers right around mid-roadshow," says an IPO researcher. He still bought the issue, he says, but flipped it immediately and went short. Shares -3.8% premarket. [View news story]
FB was a complicated deal and non-professional traders should have stayed away at all costs. I couldn't believe my ears to hear people that have never bought public equities before were buying/trying to buy FB on the IPO day.
One of the reasons for Facebook's (FB) less-than-stellar performance today may be due to the fact that the system became so clogged that traders backed away, says CNBC's David Faber. The big mid-day drop - from $40 to $38 - apparently happened because the Nasdaq temporarily stopped taking orders at one point, which created enough uncertainty that traders on many desks stopped trading the shares altogether. The SEC has launched an investigation into the issue. (video) [View news story]
Of course then again, I am sure people said that about GOOG and plenty of other long term bellwethers...
First no Facebook, now no Super Bowl, as General Motors (GM -1.6%) decides advertising in next year's Super Bowl would prove too costly. GM is in the process of evaluating all its media properties in an effort to maximize the efficiency of its ad budget, but the automaker says it isn't cutting back; GM spent $4.47B on advertising last year. [View news story]
Expect denials soon, but sources says Angela Merkel suggested to the Greek president the country hold a referendum on continued use of the euro at next month's elections. Syriza: Merkel is treating Greece as a "Protectorate." New Democracy: Merkel proposal "unfortunate." The German Chancellor has managed to unite the feuding Greek parties. [View news story]