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March 2010 Blog Posts (153)

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Euro Set for Worst Week Since Start of February on Greece Woes

March 19 (Bloomberg) -- The euro was set for its biggest weekly loss since the start of February on concern Greece will fail to secure financial assistance from the European Union.



The euro slid this week versus 15 of its 16 major counterparts as Greece’s prime minister set a one-week deadline for the European Union to craft a financial aid mechanism for the nation, challenging Germany and damping appetite for the 16-nation currency. The Swiss franc traded near its… Continue

Added by ken flagg on March 18, 2010 at 11:21pm — No Comments

Papandreou Racing to Cut Greek Interest Rates With Aid Pledge

Greek Prime Minister George Papandreou is racing to secure an explicit pledge of European aid and cut his country’s borrowing costs as 20 billion euros ($27 billion) of debt comes due in the next two months.



With investors still demanding Greece pay three percentage points more than Germany on its 10-year debt, Papandreou says Greece can’t afford to hold out much longer at current market rates. His government still needs to raise another 10 billion euros to repay bonds… Continue

Added by ken flagg on March 18, 2010 at 11:13pm — No Comments

EDITORIAL: Obama surrenders gulf oil to Moscow; The Russians are Coming to Drill in our Backyard

EDITORIAL: Obama surrenders gulf oil to Moscow







The Obama administration is poised to ban offshore oil drilling on the outer continental shelf until 2012 or beyond. Meanwhile, Russia is making a bold strategic leap to begin drilling for oil in the Gulf of

Mexico. While the United States attempts to shift gears to alternative

fuels to battle the purported evils of carbon emissions, Russia will

erect oil derricks off the Cuban coast.Offshore oil…

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Added by Tami Trades on March 18, 2010 at 10:00pm — No Comments

Taxation without Representation!

Taxation without Representation

By Bob Beers Thursday, March 18, 2010

Article 1 of the US Constitution, first half of the third paragraph of section 2:



Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their…

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Added by Tami Trades on March 18, 2010 at 9:49pm — No Comments

Journal: 3/18/2010 Options Exp. Week

Today is Thurs. the day before Options Expire for the Month of March and I must say that since I have been watching, about 3 weeks, I never seen a day go by with so little movement. It was as if everyone was waiting for the other shoe to drop and it never fell. Perhaps all the hectic gaps already took place? Maybe the upcoming "vote" on Healthscare has folks worried about where things will lead? There are many variables in play with our Socialist Pres. and administration. So I can't speculate,… Continue

Added by Tami Trades on March 18, 2010 at 9:00pm — No Comments

Democrats hunt votes for deal on health

WSJ reports Democrats inched closer to building a majority that could pass a monumental restructuring of the health-care system, with two key House members announcing plans to vote yes, but they remained short of the total required and struggled over changes in how the bill would tax certain insurance plans. People close to the situation said House leaders Wednesday appeared about 10 votes shy of the 216 needed to pass the legislation, which could be voted on this weekend. The… Continue

Added by ken flagg on March 18, 2010 at 12:01pm — No Comments

EBAY eBay should spin off PayPal - NY Times (26.98 )

NY Times reports the company estimates PayPal will generate up to $1 billion in operating profit next year. Put this conservatively on the same multiple as the slower-growing Visa, and its value is over $12 billion, or approaching half eBay's current enterprise value. PayPal's online payments platform is becoming the standard in an industry where winners often gain most of the spoils, yet the company so far has less than a tenth of the $600 billion market for online… Continue

Added by ken flagg on March 18, 2010 at 8:24am — No Comments

ECONX Economic Data Previews: Leading Indicators

The Conference Board's Leading Indicators Index is expected to post a 0.1% increase in February after rising 0.3% in January. A 0.1% growth rate would be the lowest increase since the index turned positive in April 2009. Since seven of 10 components of the index are known prior to its release, the market tends to not trade heavily on minor differences between the actual and consensus numbers. Out estimate is slightly more pessimistic than the consensus median estimate. January's… Continue

Added by ken flagg on March 18, 2010 at 8:19am — No Comments

GOOG Google pushes tv initiative - WSJ (565.56 )

WSJ reports the co has lined up some big partners—including Intel (INTC) and Sony (SNE)—in the Internet giant's recent quest to move its technology into the living room, people familiar with the situation say. The joint effort, which is in its preliminary stages, includes software to help users navigate among Web-based offerings on television sets and serve as a platform for other developers to target in creating new programs, these people say. The technology could be included… Continue

Added by ken flagg on March 18, 2010 at 8:12am — No Comments

UK public sector debt climbs above 60% of GDP

AP reports public sector debt in the United Kingdom climbed above 60 percent of GDP in February as government agencies borrowed another 12.4 billion pounds ($19 billion), the Office for National Statistics said. The borrowing figure, however, was lower than expected, due to a boost in tax collections. Furthermore, the January deficit was revised sharply lower to 43 million pounds from the 4.3 billion pounds which shocked markets when it was announced last month — because of… Continue

Added by ken flagg on March 18, 2010 at 8:06am — No Comments

Lawmakers struggle to finish health overhaul bill -

AP reports that Democrats struggled to eliminate lingering complications standing in the way of House action this weekend on President Barack Obama's landmark health care overhaul. Their drive to make the nation's health care system more efficient and extend coverage to millions of uninsured Americans took on a growing sense of inevitability, picking up endorsements from a longtime liberal holdout and from a retired Roman Catholic bishop and nuns who broke with church leaders… Continue

Added by ken flagg on March 18, 2010 at 7:59am — No Comments

Meltdown: Retirement funds, Financial Assets Vulnerable to Gov't Seizure!

Meltdown: Retirement funds, financial assets vulnerable to govt seizure

Conservative Examiner Anthony G. Martin



As the Obama administration assures Americans that 'there are signs of hope' in the economy, the facts say the opposite. The forecast is so dire, in fact, that the retirement funds and financial assets of all Americans are vulnerable to government… Continue

Added by Tami Trades on March 18, 2010 at 1:59am — No Comments

BIDU Baidu.com: Silicon Alley Insider reporting Google China

Silicon Alley Insider reporting yet more confirmation of the futility of Google's morality play against China : The same executives who are currently running Google's censored China search engine are planning to start another (censored) search engine the moment Google pulls out, according to rumors passed on by MarketWatch founder Bill Bishop in Beijing :

Added by ken flagg on March 17, 2010 at 12:37pm — No Comments

US mortgage demand tepid even as loan rates sink

Reuters.com reports applications for U.S. home loans slid last week despite the lowest mortgage rates in more than three months, the Mortgage Bankers Association said on Wednesday, suggesting a long haul before housing recovers. Punishing winter weather has likely chipped away at demand, but high unemployment and underemployment are stifling the housing market even with federal tax incentives still in play. The industry group's market index, which includes purchase and refinance… Continue

Added by ken flagg on March 17, 2010 at 9:10am — No Comments

Economic Data Previews: PPI

After a surge in oil prices pushed the PPI up 1.4% in January, the consensus estimate calls for the index to reverse gears and show a 0.2% decline in February. The decline is expected to come from price changes in the energy sector. Gasoline prices, which account for 2.90% of the finished goods index, fell 4.6% in February. The drop in gasoline prices is expected to contribute -0.13 percentage points to the PPI. Crude oil prices, which do not directly impact the finished goods… Continue

Added by ken flagg on March 17, 2010 at 8:47am — No Comments

Bernanke to defend Fed role

WSJ reports Federal Reserve Chairman Ben Bernanke will argue at a hearing Wednesday in favor of retaining the central bank's oversight of smaller banks. Mr. Bernanke, in prepared remarks for the House Financial Services Committee, is set to take on a piece of the Senate regulatory overhaul bill that would strip the Fed of that authority. He will say that the Fed's oversight of state-chartered and community banks helps the Fed set monetary policy and lend to commercial banks. "The… Continue

Added by ken flagg on March 17, 2010 at 8:43am — No Comments

HGSI Human Genome announces results of randomized Phase 2 trial of Mapatumumab

Co announced the results of its randomized Phase 2 trial of mapatumumab (HGS-ETR1) in combination with the chemotherapy agents paclitaxel and carboplatin as first-line therapy in advanced non-small cell lung cancer (NSCLC). The results showed no difference in disease response or progression-free survival for the combination that included mapatumumab vs. the control group, and showed that mapatumumab was well tolerated in this study. HGS expects to present the results in full at… Continue

Added by ken flagg on March 17, 2010 at 8:38am — No Comments

SMF Early Research Calls 1

Upgrades: Deutsche Bank upgrades Athenahealth (ATHN 39.71) to Buy from Hold... Credit Suisse upgrades Blackrock (BLK 212.35) to Outperform from Neutral... Goldman upgrades Jack in the Box (JACK 23.12) to Buy from Neutral... Keefe Bruyette upgrades Greenhill & Co (GHL 82.42) to Outperform from Market Perform.…







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Added by ken flagg on March 17, 2010 at 8:33am — No Comments

China stands firm on yuan as U.S. ups pressure

Reuters.com reports China said it "could not be any clearer" in its repeated commitment to a stable exchange rate after the U.S. Congress threatened to levy duties on some Chinese exports if it fails to revalue its currency. The temperature in the long-running dispute over China 's exchange rate regime is rising quickly, with a bipartisan bill introduced on Tuesday in the U.S. Senate that aims to get Beijing to let the yuan rise. Focusing on the yuan will not help to solve… Continue

Added by ken flagg on March 17, 2010 at 8:16am — No Comments

GOOG Google ests raised at FBR Capital Mkts following checks (565.20 )

FBR Capital Mkts notes while concerns over China, increased spending, regulatory scrutiny, and competition from MSFT have driven shares of Google down 9% YTD (S&P 500 up 4%), it believes the financial impact of these issues will be more than offset by the strength in the co's core business and contributions from non-search rev streams like YouTube, Mobile, and Display. Firm is raising its ests modestly to reflect the net effects of the strength in Google's online ad… Continue

Added by ken flagg on March 17, 2010 at 8:11am — No Comments

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