House Republicans - including House Majority Leader Eric Cantor - are reportedly overwhelmingly opposed to the fiscal cliff deal approved by the Senate. The House appears poised to amend the deal and send it back to the Senate, setting up a legislative high-wire act. [View news story]
It's unbiased, self-centered, partisan politicians like Rep. Steve LaTourette of Ohio, that has caused stalemates in our government. If you can't play with others then you are in the wrong job and need to be replaced. Give me back my Government!!
Citron Research is short QCOR. Their report is meant to drive the stock lower so they can profit. This facts in there article was re-hashed months ago and disputed. The SEC should be investigating this as out-and-out stock manipulation.
Questcor (QCOR -5.6%) adds to the big losses seen yesterday on account of a very critical Citron Research report, even as more analysts rush to the drug developer's defense. Jefferies declares Citron's complaints to be a re-hashing of old arguments, and thinks any generic alternatives to Questcor's Acthar would be both inferior and take years to commercialize. Oppenheimer presents a similar take. [View news story]
JackinTO: Sorry you're out. I think there is more to this stock than a short-sellers report. Last week the announce the productization (sic) of this drug. Plus there is no competition. I will continue to buy on pull-backs at the support line providing volume is strong. Time will tell.
Questcor (QCOR -5.6%) adds to the big losses seen yesterday on account of a very critical Citron Research report, even as more analysts rush to the drug developer's defense. Jefferies declares Citron's complaints to be a re-hashing of old arguments, and thinks any generic alternatives to Questcor's Acthar would be both inferior and take years to commercialize. Oppenheimer presents a similar take. [View news story]
This report reiterates issues brought up and addressed several months ago. I question the timing of these reports with potential shorts on this stock. Currently there is a large position in shorts.
Barclays' (BCS) involvement in the Libor manipulation scandal could potentially lead to a reorganization of the bank, including splitting off its I-bank. Some analysts hope Barclays resists the urge to overreact; it's I-banking strategy has been successful and there's no need to self-destruct. [View news story]
Will this wind up to be another slap on the wrist? When will we start to prosecute those responsible for illegal actions. Fines and/or jail time is needed to send a message that manipulating the Market is wrong!
Carl Icahn to Goldman Sachs: drop dead. He says he isn't paying the $18.5M Goldman claims is owed by CVR Energy (CVI +1.8%) for work done earlier this year: “These guys were hired to keep me from buying the company at $30 and they failed. But they are now demanding $18M for having done nothing." [View news story]
Carl - Let'em have it with both barrels. Financial blackmail at its best.
Markets pick up Sunday evening where they left off Friday afternoon. S&P 500 futures -0.8%, German Dax futures -1%. The euro -0.2% to $1.2407. Gold flat. WTI crude -0.6% to $82.71. [View news story]
Expect a dead cat bounce this week and will begin going to cash. Summer is always a slower season. This year with Europe and the election I expect a downward bias for the summer.
The worst has past for Accretive Health (AH +2.5%), says Oppenheimer. The firm says that after attending Senator Franken's hearing on the charges against the company, it's confident that the more egregious charges are baseless. The firm thinks that the lack of new evidence indicates that the worst headline risk has passed. [View news story]
This seems like the result of a witch hunt of Attorney General Swanson. She needs to be held accountable for her actions.
More on the Chicago PMI miss: At 52.9, New Orders hits its lowest level since September 2009. Same for production at 50.0. Prices paid at 60.4 hits its lowest level since September 2010. Order backlogs dive to 46.3, the lowest since October 2009. "A decrease in order intake and backlog ... has caused our first workforce reductions since the Carter years," says one respondent. [View news story]
This drop may be the ripple effect of Europe that nobody is willing to talk about. I expect exports to also decrease in the coming months.
Stocks pop higher following the strong ISM print. S&P 500 +0.5%, Nasdaq +0.5%. The 10-year note climbs 3 bps to 1.93%. [View news story]
Why is the Market seem to be struggling to maintain its upward momentum? Are we getting top-heavy with not enough good news to push it higher? I think we need a substantial pull-back before we move higher.
Initial Jobless Claims: 366K vs. 360K consensus, 368K prior. [View news story]
House Republicans - including House Majority Leader Eric Cantor - are reportedly overwhelmingly opposed to the fiscal cliff deal approved by the Senate. The House appears poised to amend the deal and send it back to the Senate, setting up a legislative high-wire act. [View news story]
Give me back my Government!!
Annaly Capital Management: Point-CounterPoint With Skyler Greene [View article]
Questcor's Acthar Is One Hot Drug [View article]
Questcor's Acthar Is One Hot Drug [View article]
The SEC should be investigating this as out-and-out stock manipulation.
Questcor (QCOR -5.6%) adds to the big losses seen yesterday on account of a very critical Citron Research report, even as more analysts rush to the drug developer's defense. Jefferies declares Citron's complaints to be a re-hashing of old arguments, and thinks any generic alternatives to Questcor's Acthar would be both inferior and take years to commercialize. Oppenheimer presents a similar take. [View news story]
I will continue to buy on pull-backs at the support line providing volume is strong.
Time will tell.
Questcor (QCOR -5.6%) adds to the big losses seen yesterday on account of a very critical Citron Research report, even as more analysts rush to the drug developer's defense. Jefferies declares Citron's complaints to be a re-hashing of old arguments, and thinks any generic alternatives to Questcor's Acthar would be both inferior and take years to commercialize. Oppenheimer presents a similar take. [View news story]
Barclays' (BCS) involvement in the Libor manipulation scandal could potentially lead to a reorganization of the bank, including splitting off its I-bank. Some analysts hope Barclays resists the urge to overreact; it's I-banking strategy has been successful and there's no need to self-destruct. [View news story]
Fines and/or jail time is needed to send a message that manipulating the Market is wrong!
Carl Icahn to Goldman Sachs: drop dead. He says he isn't paying the $18.5M Goldman claims is owed by CVR Energy (CVI +1.8%) for work done earlier this year: “These guys were hired to keep me from buying the company at $30 and they failed. But they are now demanding $18M for having done nothing." [View news story]
Markets pick up Sunday evening where they left off Friday afternoon. S&P 500 futures -0.8%, German Dax futures -1%. The euro -0.2% to $1.2407. Gold flat. WTI crude -0.6% to $82.71. [View news story]
Is Now The Time To Buy? [View article]
The worst has past for Accretive Health (AH +2.5%), says Oppenheimer. The firm says that after attending Senator Franken's hearing on the charges against the company, it's confident that the more egregious charges are baseless. The firm thinks that the lack of new evidence indicates that the worst headline risk has passed. [View news story]
More on the Chicago PMI miss: At 52.9, New Orders hits its lowest level since September 2009. Same for production at 50.0. Prices paid at 60.4 hits its lowest level since September 2010. Order backlogs dive to 46.3, the lowest since October 2009. "A decrease in order intake and backlog ... has caused our first workforce reductions since the Carter years," says one respondent. [View news story]
Annaly Capital Management's CEO Discusses Q1 2012 Results - Earnings Call Transcript [View article]
Stocks pop higher following the strong ISM print. S&P 500 +0.5%, Nasdaq +0.5%. The 10-year note climbs 3 bps to 1.93%. [View news story]
I think we need a substantial pull-back before we move higher.