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Ken flagg's Blog – June 2010 Archive (88)

SMF Reviewing the performance of global equities

Reviewing the performance of global equities during the second quarter, the U.S. markets registered losses between 9.4% and 11.3%, outperforming Shanghai which suffered a 22.9% plunge.…

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Added by ken flagg on June 30, 2010 at 10:13pm — No Comments

Tracking capital flows out of Spain.....

Tracking capital flows out of Spain ......Next stop will be here in the US ......

The Spanish cajas or savings banks are clearly in trouble, relying on the ECB for 21pc of their funding. There were signs of an incipient run on Spanish banks on May 7, an episode described by ECB president Jean-Claude Trichet as perhaps the most serious crisis since the First World War. These pressures linger. The Spanish daily Expansion reports that the…

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Added by ken flagg on June 30, 2010 at 6:50pm — No Comments

DNDN Dendreon: CMS received informal inquiries for NCD for autologous

Centers for Meicare and MEdicaid Services (CMS) received informal inquiries for a national coverage determination (NCD) for autologous cellular immunotherapy treatment of prostate cancer. This interest arose upon the recent FDA approval of the Sipuleucel T treatment regimen, marketed as Provenge. " We are opening this national coverage analysis to determine whether or not autologous cellular immunotherapy is reasonable and necessary under sections 1862(a)(1)(A) and/or… Continue

Added by ken flagg on June 30, 2010 at 5:00pm — No Comments

Early Floor Talk: China leads overseas markets lower; risky assets under pressure

The de-risking trade is back on today. Safe-haven shelters such as the dollar, yen, treasuries are bid up as money flows out of riskier asset classes such as equities and commodities. Within the riskier assets, defensive sectors such as healthcare, utilities and telecom are seeing the smallest losses around the world, while cyclical sectors (materials, energy, technology) underperform.

After a relatively flat start to the week yesterday,… Continue

Added by ken flagg on June 29, 2010 at 9:48am — No Comments

SMF Early Research Calls 2 -Update-

Upgrades:

* Ameriprise (AMP 38.05) upgraded to Buy from Hold at Citigroup

* U.S. Bancorp (USB 23.11) upgraded to Buy from Neutral at UBS

* Regions Financial (RF 7.08) upgraded to Neutral from Sell at UBS

* Ryland Group (RYL 16.13) upgraded to Buy from Neutral at UBS

* Zimmer (ZMH 54.57) upgraded to Buy from Neutral at Goldman

* News Corp. (NWSA 12.67) upgraded to Buy from Neutral at Goldman

* Disney (DIS 33.22)… Continue

Added by ken flagg on June 29, 2010 at 9:41am — No Comments

SMF Early Research Calls 1

Upgrades:

* Jabil Circuit (JBL 14.22) upgraded to Overweight from Market Weight at Thomas Weisel; maintains $18 tgt

* Noble (NE 30.00) upgraded to Outperform from Market Perform at FBR Capital; raises tgt to $42 from $36. Firm upgrades shares following the acquisition of Frontier Drilling, the announcement of a newbuild deepwater rig with a 10-year contract, and the renegotiation of three additional U.S. GOM deepwater rigs. Firm believes… Continue

Added by ken flagg on June 29, 2010 at 9:22am — No Comments

Google confirms its China Internet

Google confirms its China Internet Content Provider license is up for renewal

on June 30; will end the redirect entirely - (472.08)

Co says on its company blog that "We currently automatically redirect everyone

using Google.cn to Google.com.hk, our Hong Kong search engine... it's clear

from conversations we have had with Chinese government officials that they

find the redirect unacceptable—and… Continue

Added by ken flagg on June 29, 2010 at 9:19am — No Comments

Today's biggest point gainers/losers

Biggest point gainers: WSC (337 +4.5), STRA (222.39 +3.09), AAPR (71.5 +2.5), AAPL (269 +2.3), MWIV (51.26 +2.27), LORL (43.99 +2.26), EDU (103.01 +2.26), RAI (53.6 +2.23), LDR (60.96 +2.13), ABVC (92.35 +2.09), IBM (129.07 +1.95), LO (73.72 +1.95), CEO (177.17 +1.93), NC (98.7 +1.91), CRR (74.65 +1.89), EXPO (33.84 +1.84), CLB (153.63 +1.83), CPRH (118.97 +1.82), FFIV (73.62 +1.73), DJCO (70 +1.71), KWR (30.66 +1.63), CME (298.86 +1.58), ABV (107.73… Continue

Added by ken flagg on June 29, 2010 at 8:51am — No Comments

Stocks making new 52-week highs/lows

New lows (47) outpace new highs (28):

New 52-week highs trading over 250K (average daily volume) include: Biotechnology & Drugs (BVF, VRX), and Communications Services (GNCMA, IDT).

New 52-week lows trading over 250K (average daily volume) include: Biotechnology & Drugs (AFFY, APPY, BDSI, ELN, EPCT, OXGN), Investment Services (JLI, NMR), and Oil & Gas (BP, BQI, DNE, SYNM).

Added by ken flagg on June 29, 2010 at 8:42am — No Comments

BONDX Keeps Going...and Going: 10-Yr: +24/32..3.021%.. USD/JPY: 89.3905.. EUR/USD: 1.2274

Treasuries were able to run-up on the day pretty hard to the best levels since Apr 2009 on the 10-yr and Dec on the 2s. The 10-yr trimmed its yield by over 8 basis points while its taken off over 27bps since last Mon. The market is still riding a safe-haven wave, with an assist from data, with month-and-quarter-end activity has added support while swinging the curve flatter. The 10-yr tagged the 3.023% yield as the mid-curve led the run, while the… Continue

Added by ken flagg on June 29, 2010 at 8:39am — No Comments

Market Internals

The Dow decreased 5.29 points (or 0.05%) closing at 10138.52, the Nasdaq was down 2.83 points (or 0.13%) to finish at 2220.65 and the S&P was down 2.19 points (or 0.20%) to finish at 1074.57.

Today's movement came from lower than avg. volume (NYSE 925 closing avg of 1497; Nasdaq 1827, 2487), with decliners outpacing advancers (NYSE 1420/1626 Nasdaq 1090/1572), and with new highs outpacing new lows (NYSE new highs/new lows 58/36, and NASDAQ… Continue

Added by ken flagg on June 29, 2010 at 8:29am — No Comments

MU Micron conf call summary (10.02 +0.56)

In terms of Q4 guidance, co said the production bit growth guidance for DRAM is flat to up slightly and for NAND it roughly flat in its fiscal Q4 over Q3. Regarding Numonyx, the co said, going forward the co doesn't anticipate that it will be able to provide visibility of Numonyx separately as the co gets it integrated into its business unit planning in the structure of its co, but for Q4, the co is anticipating $475-500 mln of revenue in Q4 related to… Continue

Added by ken flagg on June 29, 2010 at 8:27am — No Comments

After Hours Summary: MU -5.3% Following Earnings/Conf Call

Companies trading higher in after hours in reaction to earnings: SMSC +5.8%... Companies trading lower in after hours in reaction to earnings: MU -5.3%... Companies trading higher in after hours in reaction to news: RMBS +4.4% (GE Lighting and Rambus sign license agreement to create LED lighting solutions for global markets), MMM +1.0% (sees Q2 revs of $6.6-6.75 bln vs. $6.57 bln Thomson Reuters consensus)... Companies trading lower in after hours in… Continue

Added by ken flagg on June 29, 2010 at 8:25am — No Comments

GLD Global & sector ETF movers- Gold & Junior Gold Miners (GDX, GDXJ)

The Actively Traded Leading Global & Sector ETFs:

gold & gold miners- GDX +2.0%, GDXJ +2.0%, crude/WTI oil- USO +1.50%, OIL +1.50%, RBOB gas- UGA +1.50%, natural gas- UNG +1.50%, silver- SLV +1.50%, commercial banks- KBE +1.50%, gold- GLD +1.0%, regional banks- KRE +1.0%, RKH +1.25%, iShares US broker/dealers- IAI +1.0%, SPDRS financials- XLF +0.75%

The Actively Traded Lagging Global & Sector ETFs:

homebuilders & home… Continue

Added by ken flagg on June 25, 2010 at 11:46am — No Comments

Commodities Update: Crude Trading Just Above $77.00

After moving into positive territory 3-4 hours ago due to a pullback in the US Dollar Index, the energy and precious metals complex have continued to trade in positive territory... August crude oil traded in the red for the majority of the overnight session. Around 5:00am ET, crude hitting session lows of $75.90, but has rallied from there, eventually hitting fresh session highs of $77.58 near the open of pit trading. In current action, crude is… Continue

Added by ken flagg on June 25, 2010 at 11:43am — No Comments

Early Floor Talk: Futures improving

Equity futures are trading at the best levels of the morning (S&P futures +5, DJ futures +32), recovering from early lows in relatively quiet pre-market trading. The biggest headlines this morning pertain to the agreement by U.S. Congress on financial regulation, which includes some concessions for the financial sector. Under the bill, banks will still be allowed to invest in hedge funds, private equity, albeit with limits, but they must use a… Continue

Added by ken flagg on June 25, 2010 at 9:21am — No Comments

XLF Wall Street reform bill tougher than hoped for,

FBR Capital notes, early this morning, the House/Senate conference committee completed work on the Wall Street reform bill. In the end, the conference kept the controversial Section 716 (the requirement to spin off swaps desks) with a few modifications. The committee also adopted a modified Volcker rule, adding new language aimed at preventing conflicts of interests but that allows for certain exceptions. To pay for this legislation, the committee… Continue

Added by ken flagg on June 25, 2010 at 9:19am — No Comments

Research In Motion 1Q EPS Beats Views; Plans Buyback RIMM

Part 1
http://clicks.aweber.com/y/ct/?l=Bt3AF&m=JNQJTKlTn5CWjF&b=WwA1GMAivAzhkes7XAf8.Q

Part 2
http://clicks.aweber.com/y/ct/?l=Bt3AF&m=JNQJTKlTn5CWjF&b=nf59_0w30owNY1Ohs1wexQ

Added by ken flagg on June 25, 2010 at 6:49am — No Comments

SMF:After Hours Summary ORCL +3.8%, RIMM -4.7% on Earnings/Guidance

Companies trading higher in after hours in reaction to earnings: TIBX +6.3%, ORCL +3.8%, ACN +1.9%... Companies trading lower in after hours in reaction to earnings: RIMM -4.7%, FINL -4.5%... Companies trading higher in after hours in reaction to news: CCJ +1.4% (Cameco signs supply agreement with China Nuclear Energy Industry Corporation)... Companies trading lower in after hours in reaction to news: FCEL -10.0% (announces proposed public offering of… Continue

Added by ken flagg on June 25, 2010 at 6:46am — No Comments

SMF Today's biggest point gainers/losers

Biggest point gainers: Y (304.78 +2.37), AMN (64.39 +1.61), STRA (233.5 +1.51), DIT (59 +1.5), CLB (152.36 +1.43), SBP (12.65 +1.41), HAS (42.49 +1.37), ESI (91.56 +1.36), CDZI (13.36 +1.36), DV (57.16 +1.31), WYNN (87 +1.23), WSO (57.83 +1.17), DNDN (36.2 +1.07), RGLD (49.69 +1.06), SZX (7.13 +1.06), YPF (39.98 +1.03), WSOB (58 +1), FCVA (7.35 +1), DGIT (37.68 +0.94), SA (35.26 +0.92), IDSA (11.35 +0.92), ALOY (9.5 +0.91), AEM (62.41… Continue

Added by ken flagg on June 24, 2010 at 11:55pm — No Comments

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