Royal Dutch Shell (RDS.A +0.5%) says it may be within two years of a major advance in shale gas production in China, bringing the country closer to being the first outside of North America to cash in on technology that has transformed U.S. energy. Unlocking the gas would cut down on China's need to import gas and would provide a windfall for Western energy giants that provide fracking technology. [View news story]
Google (GOOG +0.5%) has passed Apple (AAPL +0.3%) as the biggest holding among the top 50 actively-managed U.S. mutual funds, according to a Citi report. Google is also now the top holding among hedge funds - a slew of major hedge funds either pared back or fully unwound their Apple positions in Q4. After backing out net cash/investments, Google now trades at 15.5x 2013E EPS, and Apple at just 6.3x FY13E EPS. [View news story]
It's often been suspected, but now the Attorney General confirms the country's largest banks are too big to effectively prosecute. Eric Holder testifying before a Senate committee: "It does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the (economy)." [View news story]
Bernanke: "I don't see much evidence of an equity bubble," he says. "Earnings are high." The remark reminds of Greenspan's Congressional testimony at the market top in 2000. He told lawmakers the high stock prices of that day made perfect sense given analysts' earnings estimates. [View news story]
"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."
Bernanke: Economist or politician? The chairman goes near purple with rage as a Senator suggests he's a dove. I've got the best inflation record of any post-war Fed chairman says Bernanke, pointing to a 2% average. So that's how we're ranking things? By that spurious reasoning, Paul Volcker has the worst inflation record of any Fed chief ever. [View news story]
I have a scary feeling this will result in one of our time's great ironies, on par with the following:
"When anyone asks how I can best describe my experience in nearly 40 years at sea, I merely say, uneventful. Of course there have been winter gales, and storms and fog the like, but in all my experience, I have never been in any accident of any sort worth speaking about. ...... I never saw a wreck and never have been wrecked, nor was I ever in any predicament that threatened to end in disaster of any sort." -Captain Smith, Commander of Titanic
The French government is thinking of taking a minority stake in Alcatel-Lucent (ALU -5.6%), Bloomberg reports, while adding other options are on the table. The government, which has already taken an active interest in the struggling telecom equipment maker, has also reportedly considered encouraging a merger with Nokia Siemens NOK, SI), and is said to be interested in safeguarding ALU's patents (which the company has been trying to monetize). (previous) [View news story]
Alcatel-Lucent (ALU +4.6%) pops to $1.72 after getting pulled from Goldman's Conviction Sell list. This is probably a good time to point out Goldman helped underwrite last month's debt refinancing deal. Credit Suisse, the other underwriter, upgraded Alcatel to Neutral last week. Alcatel was added to Goldman's list on Oct. 5, when shares traded at $1.08. [View news story]
It's pretty consistent. Enough so that you can make some money next time ;)
Not daring the Administration to get cross with it, JPMorgan (JPM) declares a quarterly dividend of $0.30 payable after the New Year. (PR) [View news story]
Apple Trading At 2.56x 2016 Cash Flow [View article]
"Assume" is used at least 7 times in the article. I too, appreciate your courage, but similarly, I do not trust forecasts, projections, or promises. Time will tell. Thanks
The Treasury Department declines to name China a currency manipulator, but says the yuan "remains significantly undervalued," and calls for further appreciation, both against the greenback and other major currencies. [View news story]
Pot couldn't call the kettle black? Sorry I Lol'ed
Privatized Prisons: Public Relations Nightmare But A Pretty Great Business [View article]
Glu Mobile Is An Acquired Taste [View article]
Royal Dutch Shell (RDS.A +0.5%) says it may be within two years of a major advance in shale gas production in China, bringing the country closer to being the first outside of North America to cash in on technology that has transformed U.S. energy. Unlocking the gas would cut down on China's need to import gas and would provide a windfall for Western energy giants that provide fracking technology. [View news story]
Google (GOOG +0.5%) has passed Apple (AAPL +0.3%) as the biggest holding among the top 50 actively-managed U.S. mutual funds, according to a Citi report. Google is also now the top holding among hedge funds - a slew of major hedge funds either pared back or fully unwound their Apple positions in Q4. After backing out net cash/investments, Google now trades at 15.5x 2013E EPS, and Apple at just 6.3x FY13E EPS. [View news story]
It's often been suspected, but now the Attorney General confirms the country's largest banks are too big to effectively prosecute. Eric Holder testifying before a Senate committee: "It does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the (economy)." [View news story]
Buy MGIC Instead Of Radian's Overpriced Stock Offering [View article]
Great job.
Bernanke: "I don't see much evidence of an equity bubble," he says. "Earnings are high." The remark reminds of Greenspan's Congressional testimony at the market top in 2000. He told lawmakers the high stock prices of that day made perfect sense given analysts' earnings estimates. [View news story]
Bernanke: Economist or politician? The chairman goes near purple with rage as a Senator suggests he's a dove. I've got the best inflation record of any post-war Fed chairman says Bernanke, pointing to a 2% average. So that's how we're ranking things? By that spurious reasoning, Paul Volcker has the worst inflation record of any Fed chief ever. [View news story]
"When anyone asks how I can best describe my experience in nearly 40 years at sea, I merely say, uneventful. Of course there have been winter gales, and storms and fog the like, but in all my experience, I have never been in any accident of any sort worth speaking about. ...... I never saw a wreck and never have been wrecked, nor was I ever in any predicament that threatened to end in disaster of any sort."
-Captain Smith, Commander of Titanic
The French government is thinking of taking a minority stake in Alcatel-Lucent (ALU -5.6%), Bloomberg reports, while adding other options are on the table. The government, which has already taken an active interest in the struggling telecom equipment maker, has also reportedly considered encouraging a merger with Nokia Siemens NOK, SI), and is said to be interested in safeguarding ALU's patents (which the company has been trying to monetize). (previous) [View news story]
Alcatel-Lucent (ALU +4.6%) pops to $1.72 after getting pulled from Goldman's Conviction Sell list. This is probably a good time to point out Goldman helped underwrite last month's debt refinancing deal. Credit Suisse, the other underwriter, upgraded Alcatel to Neutral last week. Alcatel was added to Goldman's list on Oct. 5, when shares traded at $1.08. [View news story]
Not daring the Administration to get cross with it, JPMorgan (JPM) declares a quarterly dividend of $0.30 payable after the New Year. (PR) [View news story]
Halcon Resources: A Bullish Update On Recent Events [View article]
Apple Trading At 2.56x 2016 Cash Flow [View article]
Understanding Halcón Resources [View article]
The Treasury Department declines to name China a currency manipulator, but says the yuan "remains significantly undervalued," and calls for further appreciation, both against the greenback and other major currencies. [View news story]