June 2012 Blog Posts (14)

(HGSI) for $13/share in cash to 5:00pm EST July 20 (45.00 )

GSK's tender offer will expire after 16 July, the deadline set by HGS for submission of definitive acquisition proposals in its strategic alternatives review process which began on 19 April after GSK made a private proposal on 11 April. GSK believes the three months that will have passed since the start of this process is more than adequate time…

#10 The length of auto loans in America just keeps getting longer and longer. If you can believe it, 45 percent of all new car loans being made today are for more than 6 years.

#11 Approximately 70 percent of all car purchases in the United States involve an auto loan.

#12 A subprime auto loan bubble is steadily building. Today, 45 percent of all auto loans…

SMF Notes USDA report confirms dry/poor weather for corn crop in U.S.; Agency releases weekly crop progress report, which is bullish for corn futures (ETFs: CORN and JJG)

Earlier today, we noted that corn prices were significantly higher overnight (please see our 10:14 comment), which was largely due to dry weather affected crops in key growing regions. And by the end of today's pit trading session on the…

End of Day Market Summary for: Thursday, June 21, 2012

Dow 30 Industrials 12,573.57 -250.82 -1.96%

S&P 500 1,325.51 -30.18 -2.23%

Nasdaq 100 2,556.96 -66.37 -2.53%

Nasdaq Composite 2,859.09 -71.36 -2.44%

Russell 2000…

End of Day Market Summary for: Tuesday, June 19, 2012

Dow 30 Industrials 12,837.33 +95.51 +0.75%

S&P 500 1,357.98 +13.20 +0.98%

Nasdaq 100 2,620.83 +28.31 +1.09%

Nasdaq Composite 2,929.76 +34.43 +1.19%

Russell 2000…

End of Day Market Summary for: Friday, June 15, 2012

Dow 30 Industrials 12,767.17 +115.26 +0.91%

S&P 500 1,342.84 +13.74 +1.03%

Nasdaq 100 2,571.23 +31.26 +1.23%

Nasdaq Composite 2,872.80 +36.47 +1.29%

Russell 2000…

End of Day Market Summary for: Thursday, June 14, 2012

Dow 30 Industrials 12,651.91 +155.53 +1.24%

S&P 500 1,329.10 +14.22 +1.08%

Nasdaq 100 2,539.97 +12.53 +0.50%

Nasdaq Composite 2,836.33 +17.72 +0.63%

Russell…

End of Day Market Summary for: Friday, June 08, 2012

Dow 30 Industrials 12,554.20 +93.24 +0.75%

S&P 500 1,325.66 +10.67 +0.81%

Nasdaq 100 2,559.21 +23.80 +0.94%

Nasdaq Composite 2,858.42 +27.40 +0.97%

Russell 2000 769.19 +8.85…

End of Day Market Summary for: Thursday, June 07, 2012

Dow 30 Industrials 12,460.96 +46.17 +0.37%

S&P 500 1,314.99 -0.14 -0.01%

Nasdaq 100 2,535.41 -10.91 -0.43%

Nasdaq Composite 2,831.02 -13.70 -0.48%

Russell 2000 760.34 -4.83 -0.63%

S&P Midcap 400 918.06 -4.43 -0.48%

S&P 100 600.60 +0.47…

End of Day Market Summary for: Wednesday, June 06, 2012

Dow 30 Industrials 12,414.79 +286.84 +2.37%

S&P 500 1,315.13 +29.63 +2.30%

Nasdaq 100 2,546.32 +58.82 +2.36%

Nasdaq Composite 2,844.72 +66.61 +2.40%

Russell 2000 765.17 +19.08 +2.56%

S&P Midcap 400 922.49 +19.82 +2.20%

S&P 100 600.13 +13.73…

as finance ministers and central bank governors from the world’s leading economies agreed to coordinate their response to Europe’s financial crisis and U.S. and Australian economic data topped estimates.

Westfield Group (WDC), the world’s biggest shopping center operator by assets, advanced 2.8 percent in Sydney as Australia’s economy expanded last quarter at more than twice the pace…

SMF Notes Early Floor Talk: Drifting with modest losses

Futures are drifting with modest losses this morning (S&P futures -4, DJ futures -20), after paring overnight gains amid a pullback in the euro and some weaker data in Europe.

Futures were higher last night as Asian stocks showed gains (Nikkei +1.0%, Hang Seng +0.4%, Shanghai +0.2%).…

Factory orders fell 0.6% in April after declining 2.1% in March. The Briefing.com consensus expected factory orders to increase 0.1%. Durable goods orders were revised down from +0.2% in the advance release and now show no growth in April. Durable orders fell 3.7% in March. Transportation orders increased 2.2% as orders for nondefense aircraft rebounded 7.2% after falling 46.6% in March. Excluding transportation, durable goods orders were revised down to -0.9%…