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Composite Portfolio Midday Report (3/22/13)

|Includes: AZN, BP, DHCP, DHF, DHY, EXD, FL, GRMN, MDLZ, Nordic American Tankers Limited (NAT)

S&P 500 +0.56%
Dow Jones Industrial Average +0.53%
NASDAQ Composite +0.45%
Russell 2000 +0.10%
Climbers and Dogs +0.78%
Pretty Girls and Railroads +0.58%
Widows and Orphans +0.28%
Cumulative +0.54%
  • BP buyback: money for nothing
    Mar 22 2013 16:06 GMT
    Hooray. BP announces an $8bn buyback and its share price rises 2 per cent. The logic behind the cheer works something like this. BP has swapped half of TNK-BP for a fifth of Rosneft and $12bn. That cuts earnings a bit. The UK oil major has also sold $38bn of...
  • Letter from Lex - crossing the green line
    Mar 22 2013 15:02 GMT
    Scientists revealed this week that 13.8bn years ago the universe inflated a trillion trillion trillion times in the blink of an eye during the Big Bang. Cyprus's proposed bailout did not have quite as large an impact, but it did send loud reverberations rattling through markets. Fortunately the island's lawmakers...
  • Apple data centres run only on renewables
    Mar 22 2013 14:21 GMT
    Apple has announced that its data centres are now running exclusively on renewable energy, laying down the gauntlet to other big internet companies such as Google and Facebook. Apple said the announcement was the result of using its own energy production, special off-grid energy deals with suppliers and reducing overall...
  • Broker upgrades boost AstraZeneca
    Mar 22 2013 09:28 GMT
    AstraZeneca topped the FTSE 100 on Friday, after the drugmaker's recent announcement of further job cuts prompted upbeat broker comment on the stock. The company's $2.3bn restructuring plan, unveiled by its Pascal Soriot, its new chief executive, was designed to strengthen research and development to produce innovative prescription medicines to...
  • BP to use TNK-BP cash for $8bn buyback
    Mar 22 2013 07:48 GMT
    BP will launch a share buy-back worth as much as $8bn following the sale of its stake in TNK-BP, the oil group's joint venture in Russia with the Kremlin-controlled oil group Rosneft. The oil major, which completed the sale of its 50 per cent stake in TNK-BP to Rosneft on...


Portfolio Movers


Gainers Today's Market Change
Nordic American Tanker Ltd
Mondelez International Inc
Foot Locker Inc
AstraZeneca PLC
Losers Today's Market Change
Walter Investment Management Corp
Garmin Ltd
Eaton Vance Tax-Advantaged Bond and Options Strategies Fund
Credit Suisse High Yield Bond
Dreyfus High Yield Strategies Fund

Disclosure: I am long NAT, MDLZ, FL, AZN, BP, WAC, GRMN, EXD, DHY, DHF.