Stock Tips & News

Wednesday, May 25, 2011

Stock Tips & News

Top News

New M.P.G. Stickers Include Greenhouse Gas Data

By JOHN M. BRODER

The new labels will compare a vehicle's emissions of carbon dioxide with those of all other vehicles, as well as provide miles-per-gallon data.

Martha Stewart Living in Play

By PETER LATTMAN

Its shares jump after the company says it has retained Blackstone Advisory Partners to explore strategic partnerships.

Switzerland Decides on Nuclear Phase-Out

By JAMES KANTER

The decision not to build new reactors came as regulators from the European Union agreed on a framework for stress-testing their plants.

Forex - US Durable Orders Worse Than Expected

ForexTV.com - 2 minutes ago

The US Commerce Department today announced that new orders for durable goods suffered the worst decline in over half a year falling far below expectations. Orders dropped by 3.6 percent with ...

Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders

April 2011

New Orders. New orders for manufactured durable goods in April decreased $7.1 billion or 3.6 percent to $189.9 billion, the U.S. Census Bureau announced today. This decrease, down two of the last three months, followed a 4.4 percent March increase. Excluding transportation, new orders decreased 1.5 percent. Excluding defense, new orders decreased 3.6 percent. Transportation equipment, also down two of the last three months, had the largest decrease, $4.9 billion or 9.5 percent to $46.7 billion.

To read full report, click:

Advance_Report_on_Durable_Goods_April_2011_.pdf

Oil under $99 in Asia on fears of weak fuel demand- AP
AIG share sale raises $8.7 billion after record bailout- Reuters
U.S. dollar unloved by bond managers- Bloomberg

Small Cap stocks on the move

Stockhouse - a minute ago

The top individual small cap stock gainers include Seafield Resources Ltd. (TSX VENTURE:SFF) (CVE:SFF) with a 38% gain in metals and mining, Rocmec Mining Inc. (TSX VENTURE:RMI) (CVE:RMI) with a ...

Bullish on Commodities Yet Forecasting a China Slowdown: ...

Seeking Alpha - 2 minutes ago

Many of you will have heard about Goldman's bullish call on oil (via ZeroHedge), with a target price of $130 for Brent. Not are they bullish on oil, but the entire commodity complex. Our new GDP ...

Opening View: DJIA, SPX Set to Steepen Pre-Holiday Defici...

Schaeffers Research - 2 minutes ago

by Andrea Kramer (akramer@sir-inc.com) 5/25/2011 8:08 AM Stocks finished a wishy-washy session on the south side of breakeven on Tuesday, as another dose of discouraging manufacturing data rained ...

Pound lifted by in-line growth data

IBTimes - 2 minutes ago

The necessary evil of a Greek default continues to hang overhead like the Sword of Damocles with some wishing for its fall given the prospect of its removal seems less likely. This year's Sherlock ...

Elizabeth Warren accused of lying by House panel

CNN - 1 hour ago

By Jennifer Liberto @CNNMoney May 24, 2011: 2:44 PM ET White House adviser Elizabeth Warren defended herself from Republican critics at a House hearing Tuesday.

City Trade: Gold's revival

Investors Chronicle - 4 minutes ago

Fantastic savings on a joint magazine and IC Advantage subscription. Join the successful investors who have trusted our tips for over 150 years. Gold held above trend-line support last week and is ...

Dollar Weakens After Rally of Past Few Days

ABC News - 9:37am

The dollar was weakening against most major currencies Tuesday, following a big rally over the past few days. Fears about a deepening debt crisis in Europe have supported the dollar.

Oil futures gain 2% on demand forecasts

MarketWatch - 2:00am

By Claudia Assis and Sarah Turner, MarketWatch SAN FRANCISCO (MarketWatch) - Crude-oil futures gained 2% on Tuesday as the dollar declined and after Goldman Sachs upgraded its price target for oil on expectations of good

ThermoEnergy Targets China Pollution Control and Treatmen...

PR Newswire - 2 minutes ago

WORCESTER, Mass., May 25, 2011 /PRNewswire/ -- ThermoEnergy Corporation (OTCBB: TMEN), a leading supplier of wastewater recovery technology and systems, today announced the Company's first step in ...

Consider Profits When Assessing I.P.O.’s

By ROBERT CYRAN and CHRISTOPHER SWANN (NYT)

Across the board, valuations seem to be pinned on every company becoming a Google in its market, but there are relatively few consistent winners

Medtronic’s Profit Falls 19 Percent on Layoff Costs

By THE ASSOCIATED PRESS (NYT)

Struggling with sluggish sales of its leading products, heart defibrillators and spinal implants, the company fell short of analysts’ forecasts.

U.S. Suit Sees Manipulation of Oil Trades

By GRAHAM BOWLEY

The authorities are suing three companies and two individuals for reportedly manipulating the crude oil market in early 2008.

Yandex's Surge on Debut Stirs More Talk of Tech Bubble

By ANDREW KRAMER and EVELYN M. RUSLI

The 55 percent gain in Russian Internet company's shares, after LinkedIn's stock more than doubled, raised concerns about whether the I.P.O. market is becoming too frothy.

Chrysler Pays Back Rescue Loan

By BILL VLASIC

The carmaker said it made payments of $5.9 billion to the United States Treasury and $1.7 billion to Export Development Canada in a series of transactions completed Tuesday morning.

More Articles On This Topic »

Report: Philips looking at possible accounting irregularities at Mexican arm, paper says
AMSTERDAM — A Dutch newspaper says Royal Philips Electronics NV is investigating possible accounting mistakes at its Mexican business in 2009.
( Associated Press Associated Press , AP)
Publisher Conde Nast plans to sign a $2B lease for offices in WTC site's centerpiece tower
NEW YORK — Magazine publisher Conde Nast will announce Wednesday that it has signed a $2 billion lease to house its new offices at 1 World Trade Center, the centerpiece of a redeveloped ground zero that will be the tallest building in the U.S. upon its completion.
( Associated Press Associated Press , AP)
Amazon Fires Back With $164 Kindle 3G With Offers
( by TechCrunch.com , TechCrunch.com)
China Real Time Report

Investors Not Afraid of China's Bear Market
China stocks are bucking broad bullish Asian trends and are in negative territory for the year. Naturally, some investors see all this as an opportunity.
http://blogs.wsj.com/chinarealtime/?p=13820?mod=djemChinaRTR_t
China Watch: Goldman Cuts Forecast, Beijing Backs Lagarde?
France claims China plans to back Christine Lagarde for top IMF post, Goldman Sachs lowers its China growth forecast, smelly cheese versus stinky tofu and more.
http://blogs.wsj.com/chinarealtime/?p=13817?mod=djemChinaRTR_t
Morning Market Briefing

Japan April Trade Deficit JPY 463.7 Bln

Japan posted a merchandise trade deficit of 463.7 billion yen in April, the Ministry of Finance said on Wednesday, swinging to a shortfall for the first time in three months. (May 25, 2011) Full Article
Australian Economic Outlook Stabilizing: Westpac/Melbourne Prospects for Australia's economic growth in the coming nine months have stabilized, according to survey results released by Westpac Institutional Bank and the Melbourne Institute on Wednesday. (May 25, 2011) Full Article

U.S. Durable Goods Orders Drop More Than Expected In April

New orders for U.S. manufactured durable goods decreased sharply in April, reversing a better than previously estimated increase in orders in March, according to a Commerce Department report released Wednesday. (May 25, 2011) Full Article

U.K. Q1 GDP Growth Confirmed At 0.5%

British economy expanded as expected in the first quarter, underpinned by external demand and government spending. But weak domestic demand raises concern over the strength of the recovery. (May 25, 2011) Full Article

HFN

UK/US Funds-of-Funds Merge A merger between U.K.-based Strathmore Capital and Saguenay Capital, located in Purchase, N.Y., was something that may have been two decades in the making. [more]
Olympia Group Hires New CEO Fund-of funds firm Olympia Group is replacing its CEO with a new hire a few months after the firm was sold. [more]
Lawyer in Goffer Trial 'Wanted Money A former lawyer testified in the Zvi Goffer alleged insider trading trial that money was the main incentive for passing along confidential tips. [more] Scaramucci Deserts Obama For Romney Hedge fund manager Anthony Scaramucci is deserting an old classmate to beat the fundraising bushes for his rival. [more]

U.S. Probes Infosys Over Visas

U.S. authorities are investigating whether Indian software giant Infosys repeatedly violated American visa laws in order to place its own foreign employees in temporary jobs at some big corporate clients in the U.S.

Inflation Clouds India's Consumer Spending Outlook

The yearly monsoon season is usually a key driver for sales growth in India. But prolonged inflation makes the situation look different this year.

OK, You're Rich. Now What?

Newly minted tech millionaires try not to blow their newfound wealth.

India Digest: Indian Consumers Most Optimistic

Here is a roundup of news from Indian newspapers, news wires and Web sites on Wednesday, May 25, 2011. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.

Stock futures down on growth concerns; data in focus NEW YORK (Reuters) - Stock index futures fell on Wednesday, extending the previous day's slide, as signs the U.S. economy's recovery is slowing and worries about European debt weighed on sentiment. | Full Article

OECD sees growth firm, but risks abounding

May 25, 2011 06:56 AM ET

PARIS (Reuters) - Global economic recovery is on track, helped by a stronger United States, but threats ranging from high oil prices to European sovereign debt crises could yet combine to create a bout of stagflation, the OECD said on Wednesday. | Full Article

U.S. sues big oil traders for 2008 manipulation May 25, 2011 07:16 AM ET NEW YORK/WASHINGTON (Reuters) - Regulators launched one of the biggest ever crackdowns on oil price manipulation on Tuesday, suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for allegedly making $50 million by squeezing markets in 2008. | Full Article

France's Lagarde launches IMF bid, BRICs complain May 25, 2011 07:42 AM ET PARIS/WASHINGTON (Reuters) - France's Christine Lagarde has entered the race to head the IMF despite anger in big emerging economies over Europe's "obsolete" lock on the job. | Full Article

$1 trillion on the table in debt talks May 24, 2011 10:52 PM ET WASHINGTON (Reuters) - Lawmakers are weighing $1 trillion in deficit-cutting measures as part of a possible deal that would allow an increase in the country's borrowing authority, Vice President Joe Biden said on Tuesday. | Full Article

Greece's 100 billion-euro shadow over banks May 25, 2011 07:22 AM ET LONDON, May 25 (IFR) - European banks remain saddled with almost 100 billion euros of Greek government debt they can't sell, hedge or ignore, after a number of recent deals to offload the exposure to reduce the impact of a possible default ended in failure, according to bankers involved. | Full Article

Data points to slowing manufacturing activity

May 25, 2011 01:27 PM ET

WASHINGTON (Reuters) - New orders for U.S. manufactured goods posted their largest drop in six months in April after a steep fall in demand for transportation equipment, suggesting some cooling in factory activity. | Full Article
AIG stock dips after $8.7 billion share sale May 25, 2011 04:33 PM ET NEW YORK (Reuters) - Shares of American International Group Inc fell 5 percent on Wednesday as investors recognized that the government's exit from the insurer could take a long time. | Full Article
Whistleblower rule approved by divided SEC May 25, 2011 03:49 PM ET WASHINGTON (Reuters) - Corporate whistleblowers could score multi-million-dollar payouts for reporting financial wrongdoing under a new program approved by securities regulators on Wednesday. | Full Article

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Benjamin Graham Was A Crappy Hedge Fund Manager

Jack Bogle, the outspoken godfather of index funds and passive investing strategies, didn't approve of a recent Wall Street Journal article defending hedge funds.

In particular, he took issue with the author's reference to Benjamin Graham, the legendary Columbia finance professor who literally wrote the book on Security Analysis and mentored Warren Buffett.

Bogle wrote a letter to the editor. Here's an excerpt: Citing Benjamin Graham as the first "hedged fund" operator is an especially unfortunate example. "The trick," Mr. Rice writes, was Graham's "clever way to make money . . . whether it [the market] continued to rise, or started to fall." ...

Proposal for New Hedge Fund Fee Structure: 1% + 33% of Alpha

By The Big Picture

One of my pet peeves is the way that insiders -- whether corporate CEOs, hedge fund managers, or elected politicos -- capture compensation (or credit) for normal cyclical gains they had little or nothing to do with.

This is the approach favored by the Crony Capitalists — those people pretending to be free market participants, and who merely pretend to be creating value. They are taking credit for structural successes that would have occurred with or without them. What they are actually doing is capturing value, not creating it — and then transferring it from its true owners (shareholders/investors) to themselves.

This is wrong; it is legalized theft.

If you want to see a good example of how CEOs transfer shareholder wealth to themselves, a good place to start is Roger Lowenstein’s 2004 book, Origins of the Crash: The Great Bubble and Its Undoing. The section on CEO compensation is astounding; these guys were essentially getting wildly overcompensated for being CEOs during a bull market. The prime example was the CEO of Heinz, who gave himself (with the tacit approval of his Board of~~Crony~~ Directors) a $90 million bonus. And this was back in the early 1990s, when $90 million was real money.

Why Do You Want To Be A Hedge Fund Investor?

www.ritholtz.com

Earlier this year, Goldman Sachs Asset Management announced that it would launch a new mutual fund that — apparently — will bring the joy of hedge fund investing to the masses. For as little as $1,000, the Multi-Manager Alternatives Fund (GMAMX) allows mom-and-pop investors to put their life savings into some of Wall Street’s riskiest and most expensive products. This “fund of funds” will, according to its prospectus, let investors gain exposure to the trading strategies of hedge funds...

Public pensions fare well with hedge funds

Big public pension funds reaped strong returns from their hedge fund portfolios in 2012, with most of them handily surpassing their own benchmarks and well-used industry indexes. The hedge fund portfolios, for the most part, achieved close to what chief investment officers wanted, despite a 1,500-basis-point difference between the best and worst performers, according toPensions & Investments' analysis of the returns of 19 hedge fund portfolios from 17 U.S. public retirement plans with aggregate hedge fund assets of $60.7 billion.

Daniel Loeb surfing to the top of the hedge fund charts again

Something must be in the water over at 399 Park Avenue, where Daniel Loeb's hedge fund Third Point is headquartered. His Third Point Ultra fund has already gained 12.42 percent this year through the 13th of March, according to data from HSBC’s Private Bank.

The portfolio added 3.3 percent alone between March 1 and March 13. By comparison, hedge funds have returned about 4 percent year-to-date, according to HSBC.

The roughly $1.7 billion Ultra portfolio is a levered version of the firm’s flagship Offshore fund, which manages about $5.7 billion and has gained 8.5 percent over the same period. ...

CHART: Hedge Fund Gold Allocation Falls

After taking a cursory look at the recent 13-Fs filed by hedge funds, it became apparent that hedge funds were scaling back their exposures to gold. George Soros was among the big names that unloaded his position. According to Goldman Sachs' new Hedge Fund Trend Monitor report, hedge funds in aggregate scaled back big time.

Despite low turnover, hedge funds notably reduced holdings of underperforming long-time favorites Apple and gold while raising allocations to rallying Financials. For the first time in three years AAPL was not the top stock in our VIP list, instead ranking as the third most frequent top-10 holding... Continue to read.

10 Publicly Traded Hedge Funds That Pay a Dividend
Investing in publicly traded hedge funds is a great way for an investor to see returns through capital appreciation and dividend payments in the financial sector. When it comes to investing, many think of the process as a choice between growth and value stocks; you’re either taking on risk in search of capital appreciation, or you’re seeking out stable sources of current income through dividend payments. Luckily, Wall Street has many investment options and investors don’t have to make a clear-cut choice between capital gains and dividends. There are a lot of misunderstandings about dividend stocks out there; make sure you’re investing for the right reasons, check out 5 Common Misconceptions About Dividend Investing. ... Continue.

Hedge Funds Love These 3 Outperforming Semiconductor Stocks ...
Do you like to follow the buying trends of smart money investors? We ran a screen to find semiconductor stocks currently in favor by hedge fund managers. We began by screening the semiconductor industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.
We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. ... Continue.

10 REITs Absolutely Adored By Hedge Funds
After identifying the most popular stocks among hedge funds (see our full Top 10 here) according to their third-quarter 13F filings, we have decided to break down the top 10 REIT stocks that hedge funds love. The REIT industry, notably specialized REITs in hospitality and healthcare, should see positive growth from a rise in job growth and expansion due to freeing up of the credit markets. Our list includes 400 hedge funds and prominent investors that are required by the SEC to disclose their public equity holdings quarterly. In descending order, we have outlined the most-loved REIT stocks based on the aggregate number of funds owning each. ...Continue.

Apple Stock Hit by Panic Selling: 'Someone Yelled Fire'(Yahoo) Forget the "fiscal cliff." The real panic on Wall Street is over Apple's stock. Nearly every mutual and hedge fund has piled into Apple Inc. (NASDAQ:AAPL) during its spectacular rise over the past few years. Now, these same funds are scrambling for the exits as the stock goes through an equally spectacular decline. Apple plunged to a six-month low Thursday as funds rushed to take profits on the stock before it's too late. Shares are now off 25 percent since late September-shortly after the iPhone 5 launch and a month before the iPad Mini introduction. The stock, once up 74 percent on the year, is still up 30 percent for 2012. That's why Wall Street is getting out while it can. ...

Billionaire George Soros’s Latest Stock Picks (InsiderMonkey) George Soros is best known for the fortune he made shorting the British pound in 1992, but he currently invests a considerable amount of money in equities and so is required to report many of his long positions in 13F filings. We’ve gone through the 13F for the third quarter of the year and compared Soros’s holdings at the end of September to three months earlier. Read on for our impression of his moves and compare them to what he's bought and sold before. AIG. American International Group, Inc. (NYSE::AIG) became Soros’s largest 13F equity holding during the third quarter with a position of over 15 million shares being reported in the filing. A number of value investors have been getting into the insurer over the course of the year, and at a P/B ratio of 0.5 it certainly looks cheap compared to the book value of its equity. We also like its earnings multiples- it trades at 9 times forward earnings estimates- and revenue was up strongly in the third quarter compared to the same period in 2011. Fellow billionaire Dan Loeb had initiated a position during the second quarter of 2012 and we think that it still looks like a good buy for investors. ...

Duke Energy CEO Jim Rogers still facing issues as tough year nears an end (BizJournals) In late 2011, Jim Rogers seemed almost golden. He was about to close his last big merger deal. He was poised to take a corporate chairmanship tailored to his penchants for energy policy and reshaping the utility-business model. He was ready to bask in the spotlight of a national convention he’d helped bring to Charlotte. But by late 2012, it’s evident things have not gone so well. “It has been a year of challenges,” the Duke Energy Corp. chief executive concedes. “Nothing in life is perfect.” Dan Fogel, associate director of the Wake Forest University Business School’s Center for Energy, ...

Argo unveils emerging markets hedge fund (InvestmentWeek) Argo Group has launched an emerging markets hedge fund investing in bonds and currencies from a universe of over 40 emerging market countries. The Argo Local Markets fund aims to hold between 20 and 30 positions and has been launched with an initial $7m of seed capital. It will offer investors weekly liquidity and has a mandate to take on moderate leverage. Argo chief executive Kyriakos Rialas said: "The case for investing in emerging markets is compelling. ...

Argentina's President Is Making Great Political Theater Out Of Paul Singer Seizing The Country's Naval Ship(BusinessInsider) Cristina Fernandez de Kirchner is turning her feud with hedge fund manager Paul Singer into a political rallying cry in Argentina. The President has refused to pay Singer's firm Elliott Management the $1.3 billion it owes the fund after it defaulted in 2010. de Kirchner says it's because Singer was given multiple chances (in 2005 and 2010) to restructure, like other hedge funds did, and take a haircut to recoup at least a portion of their losses. Singer, needless to say, did not. Instead, he decided to capture one of Argentina's naval vessels as collateral, and got Ghana to give him an order to detain the ARA Libertad last month. ...

Tom Steyer New Investments
FARALLON CAPITAL Hedge fund billionaire into politics (DailyDemocrat) Hedge-fund billionaire Tom Steyer staked millions of his own money to take on big oil and then to close a corporate-tax loophole costing California $1 billion a year -- and won both times. Ever heard of him? Don't worry, you will. With his latest behind-the-scenes win at the polls as the man who stared down big business by standing up for Proposition 39, this Stanford MBA and top Obama fundraiser has become an out-of-nowhere big-time political player in California. So what does Tom Steyer want now? "I am an enormous lover of California and to the extent that I see something wrong, I will be involved in trying to fix it," Steyer, 55, said Monday. "What form that takes, I don't have a fixed idea." ...

This Hedge Fund Returned Nearly 25% Last Quarter
Artis Capital Management was a top performing hedge fund during the third quarter. Coming in with the fourth best Q3 performance, the fund’s picks had a weighted average return of 25.5% during the first half of the year, and returned 24.6% for the third quarter, boosting the fund’s year to date performance to 56.4%. Artis Capital was founded in 2001 and is a San Francisco-based hedge fund with a focus on public technology companies. ... Read more.

More ETFs Play Hedge Fund Copycat
What if you could emulate the actions of the most successful hedge fund managers for a fraction of what they cost? Two ETFs that debuted this summer are trying to do that by using public filings to replicate their portfolios. And a third, which launched early this month, promises to add another hedge fund dimension to ETF copycats by adopting what its sponsor calls the only true market-neutral strategy in the lot. Researchers have been trying to emulate hedge fund strategies since the 1990s ... Read more

BMW Pininfarina Gran Lusso Coupé.

BMW and Pininfarina are two of the most tradition-swathed names in the motoring world. Each is a byword for cutting-edge technology, style, dynamics and aesthetics. With the BMW Pininfarina Gran Lusso Coupé, the two

time-honoured companies are unveiling the outcome of their first collaboration at the Concorso d’Eleganza Villa d’Este 2013. The BMW Pininfarina Gran Lusso Coupé is a one-off and represents the exclusive interpretation of a luxurious BMW Coupé as seen through the eyes of Pininfarina.

...

All Time Record Gold Transactions Reported By LBMA

The precious metals have been weak again in May with gold falling 4.4% despite this weeks’ recovery. Silver is down 7% and platinum by 2.6%. Palladium has recovered from recent weakness and those who accumulated on weakness are set for the best month since November after it surged 6.6% in May.

Weakness in gold and silver is leading to robust demand internationally as store of value buyers accumulate gold and silver on this dip. This is particularly the case in Asia where premiums remain robust and supply demand imbalances remain. ...

6 Tips to Work From Home Successfully

The future of work is the work itself, not where and when the work takes place. Workplace flexibility programs are already catching on and will soon become standardized as more millennials enter the workplace. All workers, not just millennials,want freedom and flexibility and some are even quitting their jobs to becoming freelancers in order to gain that freedom. oDesk.com has 3.3 million registered freelancers, and Intuit predicts that by 2020, 40% of Americans will be freelancers. When it comes to working from home, 13.4 million people (9.4% of all American workers) work from home at least one day per week compared to just 9.2 million in 1997 according to one Census Bureau.

Today's top Green Energy Good News

Russia is funding research into powering its airplanes with solar energy. The airline industry is being hurt by high fuel prices, and solar-powered planes would not only be cheaper but also would remove a major source of carbon pollution that contributes to global warming.

Texas is set to double its wind energy generation from 60 gigawatts to 120 gigawatts in 2013.

Britain has made substantial investments in wind energy and its technology. British PM David Cameron is touting his country’s green expertise on his trip to India to promote trade with that country. ... Continue.

High-Dividend ETFs with Reasonable Valuations

Investors have picked over the ETF universe in search of any kind of yield in an extremely low-rate market for bonds. As a result, ETFs tracking many traditional high-yield sectors have been bid up to expensive levels, but there are still places investors can go for income without paying nosebleed valuations. “Unfortunately, valuations [for dividends, high-yield junk bonds, MLPs, and REITs] are approaching sky high levels in many instances as more investors fall in love with these products ... Continue.