In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
Not surprised McIntyre went the other way on this vote. He had a hell of a time fighting a recount challenge last November. Wonder if he'll get primaried next year
New Annaly Capital (NLY) director John Schaefer aligns his interests with those of the shareholders, starting a stake in the company with a 25K share purchase at $15.16/share. (Form 4) [View news story]
I sold in the 17.90 area and am now looking to get back in as well.
Cyprus and top EU officials strike a preliminary deal regarding the terms of a rescue package. Deposits below €100K will be transferred from Cyprus Popular Bank (the "bad bank") to the Bank of Cyprus (the "good bank"). Furthermore, deposits above €100K at Cyprus Popular will be taxed and the bank will be shut down. The Bank of Cyprus will reportedly take on all of Cyprus Popular's ELA obligations to the ECB which total ~ €9B.[View news story]
So instead of a 9.9% outright hair cut they're going to have 40% of their deposits stolen?
Source: MarketWatch
SYDNEY (MarketWatch) -- Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts, Agence France Presse reported. The deal will now be put to the Eurogroup in Brussels for approval, the reports said. The weekend saw tense meetings between Cyprus and the Troika -- the European Commission, the European Central Bank and the International Monetary Fund -- to reach a deal before a Monday evening funding deadline.
General Electric: An Update On The Perfect Stock [View article]
I completely agree on your view of GE, RS. Like some others have mentioned here in the comments, I am less than enamored with the decision to add Shapiro to the board but nonetheless I am buying shares and calls hand over fist right now. Despite my dislike of Immelt and Shapiro, the business is simply to valuable to ignore it.
GE (GE -1%) CEO Jeff Immelt says the conglomerate plans to return $18B to shareholders this year through dividends and buybacks," and allocate $100B to payouts over the next few years. In a letter to shareholders, Immelt also warns of "major political storms" that are likely to hurt capital investment, such as the debt-limit controversy and tax reforms. [View news story]
"fair share" is the biggest misnomer ever coined for political purposes. Companies and the wealthy pay more than their fair share of taxes for this government, and that's coming from a net negative equity college student paying for his own private education. Open your eyes and get off your soap box
Bill Ackman's flagship fund at Pershing Square fell 0.1% in February, not bad considering the hits from two of his marquee holdings. The last day of the month was particularly painful, with J.C. Penney plummeting 17% while Herbalife jumped 7.6%. For the year, the fund is up 3.6% vs. the S&P's 7.4% gain. [View news story]
I have to think that Ackman has covered at least half of his herbalife short. There's no way he was riding that thing to a zero bid...
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
A shelf registration is just a notification for a future offering of some kind whether it be common stock, preferred, bonds, notes, warrants, etc. Companies like NLY raise money to buy additional MBS, etc. through secondary offerings. What they can do with this is store a block of stock to offer in the future, say 200 million shares. They can then deploy these shares to market much more quicker if they are sitting on a shelf registration than if they just went, "hey it's a great time to do a secondary. let's get the ball rolling." It allows them to act quicker and take advantage of market conditions.
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
NLY isn't a good trading stock. Stick with it. Buy some down here at these levels, especially if it goes down. The model isn't broken, it will keep paying dividends. It's profitability like any other business and despite all the government meddling in the sector, there is an upside here.
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
It's just a shelf registration. I would be shocked if they actually offered at this point. It just doesn't make sense
Buffett Style Valuation Of The Coca-Cola Company [View article]
Thanks for your article. If only we could start moving up, instead of sideways. I anticipated we would have been in the 43/44 pps area about this time post split. It will probably take the restart of the economy to get Coke making meaningful moves again, which probably means middle of next year, assuming a cliff deal comes along.
House Republicans won't bring their "Plan B" tax-cut proposal to a vote tonight, as Speaker John Boehner says he doesn't have the votes; the House will recess until after Christmas. DJIA futures slip 0.2%. Boehner: "Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff." Updated: S&P 500 e-Mini futures dive, limit down. [View news story]
Bills regarding revenue have to originate in the House, at least that's what Article 1 Section 7 of the Constitution says.
Also, the markets rallied after Boehner's press conference today because at least someone was trying to do something. Hopefully he and Obama can work out a deal before Congress comes back from Christmas. It should be Reid and Boehner working together though. The President should stop inserting himself in the legislative process. That's not his job.
In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
New Annaly Capital (NLY) director John Schaefer aligns his interests with those of the shareholders, starting a stake in the company with a 25K share purchase at $15.16/share. (Form 4) [View news story]
Cyprus and top EU officials strike a preliminary deal regarding the terms of a rescue package. Deposits below €100K will be transferred from Cyprus Popular Bank (the "bad bank") to the Bank of Cyprus (the "good bank"). Furthermore, deposits above €100K at Cyprus Popular will be taxed and the bank will be shut down. The Bank of Cyprus will reportedly take on all of Cyprus Popular's ELA obligations to the ECB which total ~ €9B. [View news story]
Source: MarketWatch
SYDNEY (MarketWatch) -- Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts, Agence France Presse reported. The deal will now be put to the Eurogroup in Brussels for approval, the reports said. The weekend saw tense meetings between Cyprus and the Troika -- the European Commission, the European Central Bank and the International Monetary Fund -- to reach a deal before a Monday evening funding deadline.
General Electric: An Update On The Perfect Stock [View article]
GE (GE -1%) CEO Jeff Immelt says the conglomerate plans to return $18B to shareholders this year through dividends and buybacks," and allocate $100B to payouts over the next few years. In a letter to shareholders, Immelt also warns of "major political storms" that are likely to hurt capital investment, such as the debt-limit controversy and tax reforms.
[View news story]
5 Bullet-Proof Dividend Growers Yielding 5% [View article]
Bill Ackman's flagship fund at Pershing Square fell 0.1% in February, not bad considering the hits from two of his marquee holdings. The last day of the month was particularly painful, with J.C. Penney plummeting 17% while Herbalife jumped 7.6%. For the year, the fund is up 3.6% vs. the S&P's 7.4% gain. [View news story]
Christmas Came Very Early For General Electric [View article]
From the SA flash:
"Raised its authorized stock buyback to $35B and plans to buy back $10B worth of shares in 2013."
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
Annaly Capital (NLY) files a shelf registration for the possible offering of common and preferred stock, warrants, rights issues, or debt. (S-3) [View news story]
A Portfolio For Younger Growth Investors [View instapost]
Buffett Style Valuation Of The Coca-Cola Company [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
House Republicans won't bring their "Plan B" tax-cut proposal to a vote tonight, as Speaker John Boehner says he doesn't have the votes; the House will recess until after Christmas. DJIA futures slip 0.2%. Boehner: "Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff." Updated: S&P 500 e-Mini futures dive, limit down. [View news story]
Also, the markets rallied after Boehner's press conference today because at least someone was trying to do something. Hopefully he and Obama can work out a deal before Congress comes back from Christmas. It should be Reid and Boehner working together though. The President should stop inserting himself in the legislative process. That's not his job.