Moscow not ready to join OPEC, wants oil between 60 and 100 dollars, will work to coordinate pricing with OPEC. World Bank to create 50billion fund. GOOG upgrade. Skype available for the iPhone. Boeing: 100 planes to India over next 5 years. Two iPhone verions expected to be announced in June – this should positively [...]
Asian markets down 5% overnight. CALM misses. Major European markets trading down. CSTR’s Red Box a positive asset. Mortgage defaults & delinquincies continue to rise. GPS upgraded. CHL downgraded. LNC downgraded. FBR believes commercial credit losses to be larger than expected. Regulators of FRE & FNM look for new direction, role. POT & MOS downgraded. [...]
Geithner wants to expand powers of Federal Reserve and Treasury. WSJ reports commercial RE loan delinquincies accelerating. Employees continuing to leave AIG. GOOG to increase Google CheckOut fees, curtail/exit some other poorer performing areas. SOLF downed and upped. ATHR downgraded. BBY beats and raises guidance. Citi to start fund to buy undervalued bank bonds. NYPost [...]
BAC & C aggressively buying MBSs in secondary market. Feb durable good orders up, Jan revised further down. CHU subsidary gets iPhone contract. GS in share lockup with ICBC – 80% must be held until at least 04/28/10. WLT spinoff of WAC-WI trading to be delayed. TARP candidate withdraws name for consideration. LFC net falls [...]
Geithner just said AIG guarantees over $30b worth of life insurance and pension funds — then why have we given them 6 times that amount?
Geithner going to deduct value of unreturned bonuses from AIG’s last $30 billion. That’s like a 0.1% tax, it is in no way going to influence behavior.
Geithner is a petty, and [...]
15 of 20 AIG execs return boni. IRS going after tax shelters structured by AIG. AIG competitors say AIG using government rescue funds to cut prices. Steiffel acquires 55 UBS branches. Oppenheimer raises estimates for prepaid wireless providers. Uptick rule to be discussed at April 8 SEC meeting. TSL initiated at Buy. Jefferies raises target [...]
HRB tax season results thru 3/15 down 3.2%. Banks and insurers trading up on treasury plan. TIF beats, guides lower. CF board recommends rejecting AGU bid, intends to persue TRA. CF Board says AGU could afford to offer $100 per shares. WAG Misses. UA downgraded. Airlines lowered. Gold miners trading slightly lower. STP [...]
Reducing 2009 production by another 1.5 mm tonnes for a total reduction for the year of 3.5 mm tonnes.
XOM upgraded. Boeing cut. WFC criticizes retroactivity of TARP – says was forced to accept funds & the retroactive rules that accompanied. CSTR upgraded. AGU commences offer for CF. CLWR expanding aggressively in Atlanta & LVS. iPhone to get premium app store. AAPL upgraded. Jefferies affirms FSLR guidance. JPM initiated at Outperform. [...]
With the advent of commodity based ETFs and their growth in popularity, gold now has the opportunity to be treated in the same manner as a tech stock.
Investment in gold is nearing 50% of all gold consumption, and one third of that is ETFs. The price of gold has been kind to ETFs. [...]
I like Fauquier Banshares (FBSS) below $15, it only has an ADV of 1000 shares so be careful bidding. Lloyds Banking Group plc (LYG) at $7.25 is a good buy. My target for both is $25-$28 range.
September 17, 2009Personally I thought the idea of people paying to use coin counting machines was insane. But I was wrong. They put those Coinstar (CSTR) machines in and the people came. There were lines at the supermarket to use it. I couldn’t believe it. But that was then. The “change” must have run out. I haven’t seen one of those machines used in some time. Coinstar does have other machines and an investment in Red Box, but the easy money days of counting change appear to be over.
Costco (COST) saw decreased sales this quarter and missed their numbers, but the real reason I may downgrade — they are starting a trial at two NYC area stores to accept food stamps. Costco, because it charges a membership fee, is like an oasis in the urban jungle. If they start accepting food stamps, it will make it no different than any other large city retailer, think Target or K-Mart.
Mr. Gioia points to the Costco on Vernon Boulevard in Long Island City, Queens, in his district. First opened in 1996, the store is within walking distance for nearly 30,000 residents of three public housing projects: the Queensbridge, Ravenswood and Astoria Homes. “Why Doesn’t Costco Accept Food Stamps?”New York Times, November 11, 2008.
How could anyone not want to shop with them? One of Costco’s reason for never applying to sell food stamps is the $50 yearly fee. Considering the government uses debit cards for the food stamp program so that recipients aren’t shamed, they will probably cover the cost of the membership.
May 28, 2009With the advent of commodity based ETFs and their growth in popularity, gold now has the opportunity to be treated in the same manner as a tech stock.
Investment in gold is nearing 50% of all gold consumption, and one third of that is ETFs. The price of gold has been kind to ETFs. And ETFs have been kind to the price of gold. Investors invest in ETFs as the price of gold climbs. With gold showing recent weakness, I believe that we will begin to see investors “profit take” thus forcing ETFs to divest ….. divest …. liquidate ….. cash markets will have to absorb this inventory.
The skew on the puts currently reflects anticipation of increasing implied volatility. If the spot price continues breaking through levels of support look for an increase in implied volatility in gold ETF put options across all months.
March 4, 2009Just buy it. UBSI @ $15.32
CEO said forget the TARP funds.
CEO is a West Virginian who just bought more stock than he makes in a year.
Long 9 Sep Corn @ 377¼
vs.
Short 4 Sep Beans @ 860¾
Long 5 MS @ $20.00
Short 1 GS @ $80.00
Taken off now results in a net of $23.25 in the cash register. Cha-ching.
Price Target: $220
Position closed March 5, 2009: $220.00
January 7, 2009It’s always time to buy something, but what (is it time to buy now)?
Here’s what I like:
Genuine Parts Company (GPC) $37.35 – - 39¢ quarterly dividend
Equitable Resources Inc. (EQT) $32.20 – - 22¢ quarterly dividend
Olin Corp. (OLN) $16.95 – - 20¢ quarterly dividend
And here’s one I love:
BP Plc. (BP) $45.25 – - 84¢ quarterly dividend (this is almost a 7.5% dividend folks)
All have healthy dividends, strong stable balance sheets, and room for growth.
December 30, 2008Morgan Stanley: $16.00
Goldman Sachs: $73.00
The spread we bought for a credit of $3.25 is now at $7.00
November 10, 2008Long 5 shares of Morgan Stanley(MS) @ $26.25
vs.
Short 1 share of Goldman Sachs(GS) @ $134.50
Net cost: – $3.25
Can’t sell stock? Buy a deep put or sell a deep call for the GS leg.
Coca-Cola (KO) – Sell ($53.39)
Chesapeke Energy (CHK) – Buy ($38.57)
Alliance Resource Partners (ARLP) – Buy ($33.57)
Joy Global (JOYG) – Buy ($51.55)
Goldman Sachs (GS) – Sell ($108.00)
Morgan Stanley (MS) – Buy ($22.55)
Fifth Third (FITB) – Buy ($15.96)
I have my own research methods. Don’t ask.
September 19, 2008