SI
SI
discoversearch

 Strategies & Market Trends | The New Economy and its Winners


Previous 10 | Next 10 
From: Bill Harmond4/3/2012 11:08:08 AM
   of 57237
 
Busy news day. 03-Apr-12 08:01 ET In Play Zillow and Yahoo! (YHOO) renew advertising deal (37.01 ) : Co announced a renewal of its exclusive advertising agreement with Yahoo!, which creates the Yahoo!-Zillow Real Estate Network, the largest real estate network on the Web. The companies entered into an advertising agreement in 2011, creating the Yahoo!-Zillow Real Estate Network to give real estate agents and brokers the ability to buy local advertisements on both sites with just one phone transaction.

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/3/2012 2:36:08 PM
   of 57237
 
14:08 ECONX Fed Minutes Summary -Update-
-- The information reviewed at the March 13 meeting suggested that economic activity was expanding moderately. Labor market conditions continued to improve and the unemployment rate declined further, although it remained elevated. Overall consumer price inflation was relatively subdued in recent months.More recently, prices of crude oil and gasoline increased substantially. Measures of long-run inflation expectations remained stable. Both the rate of long-duration unemployment and the share of workers employed part time for economic reasons continued to be high.

-- Broader indicators of manufacturing activity, such as the diffusion indexes of new orders from the national and regional manufacturing surveys, were at Members viewed the information on U.S. economic activity received over the intermeeting period as suggesting that the economy had been expanding moderately and generally agreed that the economic outlook, while a bit stronger overall, was broadly similar to that at the time of their January meeting.

-- Strains in global financial markets, while having eased since January, continued to Recent monthly readings on inflation had been subdued, and longer-term inflation expectations remained stable. Against that backdrop, members generally anticipated that the recent increase in oil and gasoline prices would push up inflation temporarily, but that subsequently inflation would run at or below the rate that the Committee judges most consistent with its mandate.

-- In their discussion of monetary policy for the period ahead, members agreed that it would be appropriate to maintain the existing highly accommodative stance of monetary policy. In particular, they agreed to keep the target range for the federal funds rate at 0 to 0.25%, to continue the program of extending the average maturity of the Federal Reserve's holdings of securities as announced in September, and to retain the existing policies regarding the reinvestment of principal payments from Federal Reserve holdings of securities.

-- With the economic outlook over the medium term not greatly changed, almost all members again agreed to indicate that the Committee expects to maintain a highly accommodative stance for monetary policy and currently anticipates that economic conditions—including low rates of resource utilization and a subdued outlook for inflation over the medium run—are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.

-- Several members continued to anticipate, as in January, that the unemployment rate would still be well above their estimates of its longer-term normal level, and inflation would be at or below the Committee's longerrun objective, in late 2014.

-- It was noted that the Committee's forward guidance is conditional on economic developments, and members concurred that the date given in the statement would be subject to revision in response to significant changes in the economic outlook. While recent employment data had been encouraging, a number of members perceived a nonnegligible risk that improvements in employment could diminish as the year progressed, as had occurred in 2010 and 2011, and saw this risk as reinforcing the case for leaving the forward guidance unchanged at this meeting. In contrast, one member judged that maintaining the current degree of policy accommodation much beyond this year would likely be inappropriate
.

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/3/2012 3:35:59 PM
   of 57237
 
Treasuries are selling-off hard. Check out TMV, the triple-short long bond etf.

Share Recommend | Keep | Reply | Mark as Last Read


To: stockman_scott who wrote (55485)4/4/2012 9:01:42 PM
From: Glenn Petersen
2 Recommendations   of 57237
 
Obama signs the JOBS Act tomorrow:

Wall St. Examines Fine Print in a New Jobs Bill

By SUSANNE CRAIG and BEN PROTESS
DealBook
New York Times
April 4, 2012, 8:43 pm

Wall Street is examining whether it will benefit from a little-known section of a broad new law that President Obama is expected to sign on Thursday.

Provisions tucked into the so-called JOBS Act, or the Jumpstart Our Business Startups, will roll back some major securities regulations and parts of a landmark legal settlement struck almost a decade ago. That 2003 settlement built a Chinese wall between Wall Street research analysts and investment bankers, an effort to prevent analysts from improperly promoting stocks to help their firms drum up business from corporate clients.

Under the new legislation, some of those restrictions would be eased when it comes to smaller companies, so-called emerging growth companies.

Wall Street senses an opportunity. Davis Polk, a large law firm that caters to Wall Street, wrote in a recent note to clients that the JOBS Act represented “the most significant legislative loosening in memory of restrictions around the I.P.O. process and public company reporting obligations.”

Almost every big bank on Wall Street, including Goldman Sachs, Morgan Stanley and Bank of America, is poring over the provisions, which some firms say will open a new front on their business model. Several firms contacted Wednesday said they were studying the JOBS Act and were eager to see how regulators would begin to interpret the legislation. One Wall Street executive familiar with the JOBS Act but who declined to be named said the law would give firms “more flexibility” in covering emerging companies.

The new legislation passed through Congress over the objections of regulators, past and present, who warned of the potential risks to investors.

“It is a bad sequel to a bad movie,” said Eliot Spitzer, the former New York attorney general. “It shouldn’t be called the JOBS Act, it should be called the Bring Fraud Back to Wall Street Act.”

Mr. Spitzer was a crucial architect of the 2003 settlement, struck after the dot-com bubble, when investors lost millions of dollars investing in companies that regulators later claimed were improperly hyped by analysts. In some cases, analysts would privately disparage the same stocks they were telling investors to buy, including in one e-mail where an analyst called a security a “piece of junk.”

Regulators contended that analysts were influenced by their investment banking colleagues who were seeking to win lucrative business from these hot companies. The settlement, some aspects of which were echoed in the Sarbanes-Oxley law and in regulations, barred any communication between bankers and analysts unless accompanied by a compliance officer, a move aimed at reducing the influence of bankers on the research.

There is concern that the JOBS Act will unwind this provision for emerging growth companies, those that have less than $1 billion in annual revenue. Lawmakers argued that the current restrictions have stifled the ability of start-up companies to raise capital and amplify their profile.

The JOBS Act also will allow banks to publish research reports about these companies while the bankers are helping take them public. The potential conflict here, regulators say, is that bankers might use research to drum up interest in the stock, which is then often sold to retail investors.

This new provision would have covered a broad range of companies that went public during the tech boom — popular start-ups like Pets.com and Webvan — which later foundered. It would have also affected a number of start-ups that have recently gone public — or are considering a public offering. LinkedIn, the professional social networking site that went public in 2011, reported annual revenue last year of $522.2 million. Pandora Radio, another big name that recently went public, reported revenue for fiscal 2012 (year ended January 2012) of $274.3 million.

Underwriting the initial public offerings of companies like these is a big business on Wall Street. Firms like Morgan Stanley, JPMorgan Chase and Goldman Sachs stand to make millions of dollars in fees when Facebook goes public this year.

Despite the apparent opportunities available in the new legislation, Wall Street is proceeding with some caution. For instance, some big American banks have told regulators in recent weeks that they were not likely to start doing research on companies that were candidates to go public, a person briefed on the matter said. The banks, the person said, are mindful that investors will sue them if they can show that analysts drafted intentionally deceptive research.

Before taking any actions, the banks are first seeking guidance from a cavalry of lawyers.

“All of the investment banks will likely want to be looking at the policies and procedures they have in place relating to research and research-investing banking interactions and trying to reconcile those with the JOBS Act,” said Glenn R. Pollner, a capital markets partner at Gibson Dunn who is advising clients on the JOBS Act. “Among other things, there is some uncertainty here as to how expansively or narrowly the S.E.C. and Finra will interpret the provisions of the JOBS Act relating to research and investment banking interaction.”

For one, the global settlement, and its broader rules of the road for analysts, is still technically intact.

Lawyers are advising the banks to tread lightly until the Financial Industry Regulatory Authority, Wall Street’s self-regulator, acts. Regulators on Wednesday said they were scanning the new law, and deciding the next steps to take.

Finra will likely relax some of it rules to comply with the JOBS act, but the regulator has not yet a timetable for finalizing any changes. The Securities and Exchange Commission is unlikely to have to change any of its rules.

Still, the JOBS Act appears to loosen financial communication more broadly. For instance, the bill will relax rules on how investment firms can market themselves to the public, reversing regulations that restrict what hedge funds and private equity firms from publicly discussing things like investment strategy

Regulators were against the JOBS Act from the beginning. When the measure cleared hurdles in the House, the Securities and Exchange Commission scrambled to stop it in its tracks.

The law will “weaken investor protection,” Mary Schapiro, chairwoman of the S.E.C. warned last month.

“We should not walk backwards here,” she said. “Collusive behavior between analysts and bankers cost investors huge sums, shattered confidence in the integrity of research, and damaged the markets themselves.”

The JOBS Act is far reaching and also exempts emerging growth companies from certain disclosure and governance requirements for up to five years. It will also provide a new form of financing to start up companies.

Through what is known as crowdfunding, or the sale of small amounts of stock to many individuals, companies could solicit equity investments through the Internet or elsewhere, raising up to $1 million annually without being required to register the shares for public trading with regulators. Some see this as a big deal for entrepreneurs who can now sell their ideas without having to find a big financial backer. Others say this provision will bring a return to the boiler rooms of the days gone by where brokers peddled worthless stock to unassuming investors.

“It’s almost an experiment of sorts,” said Richard Roberts, a former S.E.C. commissioner who now represents companies affected by the JOBS Act. “If any parts are a disaster, Congress can change it.”

Robert Glauber, former head of the National Association of Securities Dealers, the precursor agency to Finra, and a lecturer at Harvard’s John F. Kennedy School of Government, says the 2003 accord was a “legal settlement” and a legislative modification is “perfectly appropriate.”

“A sweeping prohibition of certain behavior never made sense,” he said. “Easing the restrictions for a select group of companies will give us a chance to see if it provides useful information to the marketplace without investor abuse. The key is to make sure the banker-analyst relationship is properly disclosed and that the S.E.C. carefully monitors the effects of the change.”

dealbook.nytimes.com

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/5/2012 10:45:07 AM
   of 57237
 
09:42 GLUU Glu Mobile: Hearing tgt raised to $7.75 from $5 at B. Riley (4.94 +0.13) -Update-

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/5/2012 7:49:39 PM
   of 57237
 
17:06 CALL magicJack VocalTec files to sell 5 mln shares of common stock for shareholders (20.81 +0.49)

Share Recommend | Keep | Reply | Mark as Last Read | Read Replies (1)


To: Bill Harmond who wrote (55696)4/5/2012 10:11:38 PM
From: Elroy
1 Recommendation   of 57237
 
Samsung indicates Q1 cell phone sales are off the charts, particularly smartphones. That's good news for SIMO.....

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/7/2012 1:37:31 PM
1 Recommendation   of 57237
 
WEAK JOBS REPORT WEAKENS STOCK FUTURES AND INCREASES LIKELIHOOD FOR MARKET CORRECTION

By John Murphy

STOCK FUTURES WEAKEN ON FRIDAY... A disappointing jobs report on Friday caused U.S. stock index futures to fall 1%. My Thursday message wrote about the likelihood for a market correction. That was based on the fact that stocks are overbought, the tendency for the seasonal trend to start weakening after April, and heavier selling in foreign markets. A sell signal on daily MACD lines also took place during the week. The weak jobs report on Friday, and the negative reaction of stock index futures in an abbreviated trading session, increase the odds for more selling next week.

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/9/2012 10:49:30 AM
2 Recommendations   of 57237
 
10:42 FFIV F5 Networks should deliver a strong quarter as expected - MKM Parnters (132.13 -3.80) -Update-

MKM Parnters says based in part on field checks, they think F5 Networks will likely meet or slightly exceed their above-consensus 2QFY12 (March) forecasts of $337 mln in revenues and $1.08 EPS (consensus is $335 mln/$1.07). Firm recently spoke with more than 20 Value Added Resellers of networking equipment in the U.S., nearly one-third of which work with F5 products. There are a number of secular and company-specific drivers behind F5's strong momentum and the stock reflects it. They expect their estimates will likely move higher, but they are waiting for more clarity on the revenue forecast for the Traffix acquisition and on how big an incremental opportunity the application firewall security push represents.

Share Recommend | Keep | Reply | Mark as Last Read


From: Bill Harmond4/9/2012 11:06:04 AM
   of 57237
 
09-Apr-12 07:33 ET In Play magicJack VocalTec sees Q1 EPS and revs above consensus (20.81 ) : Co issues upside guidance for Q1 (Mar), sees EPS of $0.26, excluding non-recurring items, vs. $0.14 Capital IQ Consensus Estimate; sees Q1 (Mar) revs of $37.4 mln, excluding non-recurring items, vs. $34.15 mln Capital IQ Consensus Estimate. Deferred revenue at quarter-end is expected to be approximately $137.5 mln and cash was ~$60.5 mln, both new records for the co.

Share Recommend | Keep | Reply | Mark as Last Read
Previous 10 | Next 10 

Copyright © 1995-2014 Knight Sac Media. All rights reserved.Stock quotes are delayed at least 15 minutes - See Terms of Use.