Greece is within a day of a catastrophic default the ripple effects of which could put immense pressure on other troubled eurozone nations, particularly Portugal. The government has been told by its eurozone neighbors that if the country’s Parliament cannot agree to onerous austerity measure that the group will abandon Greece, probably to a national bankruptcy of [...]
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Major indexes reacted positively to this morning’s non-farm payrolls report and the drop in the US unemployment rate from 8.5% to 8.3%. Expectations for the unemployment rate had been no better than flat, and jobs growth of 243,000 was also a big surprise. The report ISM service jobs was also higher than expected this morning, [...]
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Enerkem Inc. has filed its paperwork with the SEC for an initial public offering. The company did not list any terms of the IPO but its filing is for up to $125 million in common stock. It will be hard not to think of the Back to the Future scene here where Doc uses organic [...]
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Caesars Entertainment Corporation is supposed to be one of the Top 17 IPOs to Watch in 2012. That remains the case, but it is not because we have such admiration nor because of great success. This is a huge company owned by private equity and it marks the resale of a huge leveraged buyout by [...]
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Micron Technology, Inc. (NASDAQ: MU) was halted pending news. Most investors would have assumed it was about a lawsuit or around an earnings warning. It is far worse. Micron has announced the death of its Chairman and CEO. 51-year old Steve Appleton died in a small plane accident this morning in Boise. The company’s board [...]
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The huge increase in new jobs reported this morning, coupled with the drop in the unemployment rate to 8.3% has pushed US equities by more than 1% this morning. The news feeds renewed hopes for a stronger US economy going forward, and that means that US dollars are once again a good place to park [...]
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Among the major movers at around noon today are Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Ocean Power Technologies Inc. (NASDAQ: OPTT), Zynga Inc. (NASDAQ: ZNGA), MediciNova Inc. (NASDAQ: MNOV), and Mannkind Corp. (NASDAQ: MNKD). Shares of Threshold are up about 81% at $2.33. About 6 million shares have been traded so far today, compared with a [...]
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Solar systems installer SolarCity is reported to be preparing an IPO in the third quarter of this year. A Reuters report notes that Goldman Sachs will be the lead underwriter for the stock offering, which is expected to put a valuation of $1.5 billion on the company. SolarCity is the largest solar installer in the [...]
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Fed Funds Futures are not widely used by Joe Public, and much of the public may not even understand or know what these are. The layman explanation is that they predict when the FOMC rate hikes are expected to start. The Fed Funds Futures are very different today from a week ago after Ben Bernanke [...]
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They say there is an ETF for just about any investing strategy and just about any sector. Today, there are five new ETFs hitting the market from BlackRock, Inc. (NYSE: BLK) under its iShares ETF platform. These new ETFs will cover producers of (rather than the commodities) of agriculture, energy, select metals and mining, gold, and [...]
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