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Benzinga Market Primer: Wednesday, May 15

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Futures Lower on Weak European Growth Data

U.S. equity futures traded lower in early pre-market trade following a weaker than expected GDP report from the eurozone for the first quarter. GDP growth rose to -0.2 percent on a quarterly basis from -0.6 percent but missed forecasts of a 0.1 percent contraction. Weakness was notably seen in Germany, France, and Italy in the report, with the annualized rate of growth for Germany dropping to -1.4 percent vs. 0.2 percent growth forecast.

Top News

In other news around the markets:

  • The U.K. had fewer people claim unemployment benefits in April than expected, a positive sign for the labor market as the unemployment rate fell. The Claimant Count Change in the U.K. was released at -7.3 thousand people vs. a forecast of -3.0 thousand as the unemployment rate unexpectedly declined 0.1 percent to 7.8 percent. However, most of the drop was due to people leaving the labor force.
  • The Bank of England issued an upbeat forecast for the U.K. economy in its latest Inflation Report, the last of Governor Mervyn King’s tenure at the BoE. The Bank forecasts that the U.K. will grow 0.5 percent in the second quarter with growth accelerating to 1.7 percent in the second quarter of 2014 and 2.2 percent in the same period of 2015. Notably, the Bank mentioned that it sees the effects of the financial crisis easing, finally.
  • Wal-Mart (NYSE: WMT) has refused to sign a new safety pact for its suppliers in Bangladesh but has announced that it will increase inspections in the country in the wake of the disaster that left numerous workers dead and more injured.
  • S&P 500 futures fell 3.7 points to 1,644.30.
  • The EUR/USD was lower at 1.2887.
  • Spanish 10-year government bond yields rose 2 basis points to 4.37 percent.
  • Italian 10-year government bond yields rose 5 basis points to 4.06 percent.
  • Gold fell 0.95 percent to $1,410.90 per ounce.

Asian Markets

Asian shares were mostly higher overnight save for Australia following mixed trading on Wall Street as the Nikkei crossed the 15,000 level for the first time since 2008 as the yen continued…
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Benzinga Market Primer: Tuesday, May 14

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Futures Slightly Lower on Mixed European Data

U.S. equity futures traded slightly lower in early pre-market trade following mixed economic data out of the eurozone. The moves follow basically flat trading on Wall Street from Monday after futures rallied into the open following weaker than expected Chinese data.

Top News

In other news around the markets:

  • The German ZEW Economic Sentiment Index rose to 36.4 in May from 36.3 in April but missed expectations of a gain to 38.3. The current conditions index was also weak and over 77 percent of respondents said they do not expect another rate cut in the next six months.
  • Industrial Production across the eurozone rose faster than expected in March as IP rose 1.0 percent vs. a 0.4 percent forecast gain.February’s reading was revised downwards to 0.3 percent from 0.4 percent.
  • Australia’s just released budget for the next fiscal year sees growth at 3 percent, alleviating some fears of a more protracted slowdown in the resource-rich nation.
  • S&P 500 futures fell 2.8 points to 1,628.00.
  • The EUR/USD was higher at 1.3006.
  • Spanish 10-year government bond yields rose 3 basis points to 4.32 percent.
  • Italian 10-year government bond yields rose 3 basis points to 4.01 percent.
  • Gold rose 0.05 percent to $1,435.00 per ounce.

Asian Markets

Asian shares were mostly lower overnight as the yen retreated from recent lows against the dollar. The Japanese Nikkei Index fell 0.16 percent and the Shanghai Composite Index fell 1.11 percent while the Hang Seng Index lost 0.26 percent. Also, the Korean Kospi gained 1.03 percent and Australian shares rose 0.2 percent.

European Markets

European shares were mostly lower following the mixed economic data. The Spanish Ibex Index fell 0.6 percent and the Italian FTSE MIB Index declined 0.22 percent. Meanwhile, the German DAX declined 0.21 percent and the French CAC 40 lost 0.43 percent while U.K. shares fell 0.1 percent.

Commodities

Commodities were mixed overnight in quiet moves as the dollar gave back some of its recent gains, boosting commodity prices. WTI Crude futures rose 0.02 percent to $95.19 per barrel and Brent Crude futures rose 0.07 percent to $102.89 per barrel. Copper futures…
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Benzinga’s M&A Chatter for Monday April 22, 2013

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday April 22, 2013:

ABB to Acquire Power-One for $6.35/Share in Cash

The Deal:
ABB (NYSE: ABB) and Power-One (NASDAQ: PWER) announced Monday that their boards of directors have agreed to a transaction in which ABB will acquire Power-One for $6.35 per share in cash or $1.028 billion. The transaction is expected to close in the second half of 2013.

Power-One closed at $6.33 Monday, a gain of 56% on 52 times average volume.

CECO Environmental to Acquire Met-Pro for $13.75/Share

The Deal:
CECO Environmental (NASDAQ: CECE) announced Monday it has entered into a definitive agreement to acquire Met-Pro Corporation (NYSE: MPR) in a cash and stock transaction valued at approximately $210 million, or $13.75 per share, including $7.25 per share in cash and $6.50 per share in CECO common stock.

The completion of the acquisition is subject to approval of CECO and Met-Pro shareholders.

Met-Pro closed at $13.38 Monday, a gain of 39% on 52 times average volume.

IBM Acquires UrbanCode

The Deal:
IBM (NYSE: IBM) announced Monday it has acquired UrbanCode, a Cleveland, Ohio company which automates the delivery of software, helping businesses quickly release and update mobile, social, big data, cloud applications.

Terms were not disclosed.

IBM closed at $187.83 Monday, a loss of 1% on 2.5 times average volume.

Hearing Unconfirmed Chatter of Potential Microsoft Bid for Nuance Communications

The Rumor:
Renewed takeover chatter circulated in Nuance Communications (NASDAQ: NUAN) Monday. Microsoft (NASDAQ: MSFT) was the rumored buyer today with a potential bid of $32 per share, according to sources. Nuance has been rumored to have hired Goldman Sachs as an advisor. Carl Icahn reported a 9.27% passive stake in Nuance on April 1.

A Microsoft spokesperson declined comment on the rumor. A Nuance spokesperson was not available for comment.

Nuance Communications closed at $21.04 Monday, gain of 3% on average volume.

Hearing Unconfirmed Chatter of Qihoo 360 Hiring Goldman Sachs as an Advisor

The Rumor:
Qihoo 360 (NASDAQ: QIHU) was rumored Monday to have hired Goldman Sachs as an advisor to handle a potential bid from Tencent (OTC: TCEHY).

Spokespersons for Qihoo 360 and Tencent were not available for comment.

Qihoo 360 closed at $32.20 Monday, gain of 1% on lower than average volume.






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Benzinga’s M&A Chatter for Tuesday April 23, 2013

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday April 22, 2013:

MEMSIC to be Acquired by IDG-Accel China Capital II, L.P. and Affiliates for $4.225/Share in Cash

The Deal:
MEMSIC (NASDAQ: MEMS) announced Tuesday that it has agreed to be acquired by IDG-Accel China Capital II, L.P. and its affiliates MZ Investment Holdings Limited and MZ Investment Holdings Merger Sub Limited for $4.225 per share in cash. Affiliates of IDG currently hold approximately 19.5% of the company’s outstanding common stock. IDG and its affiliates will acquire all the outstanding shares of common stock of MEMSIC that are not currently owned by them, including shares underlying outstanding in-the-money equity awards, for approximately $88.5 million.

The transaction is expected to close during Q1 2013.

MEMSIC closed at $4.07 Tuesday, a gain of 50% on 21 times average volume.

Hearing Chatter New Oriental Education Near Going Private Deal

The Rumor:
Shares of New Oriental Education (NYSE: EDU) moved higher Tuesday on unconfirmed chatter the company may be close to deal to be taken private. A note from 86 Research on March 16, said EDU could receive a “going private” bid. On December 17, 2012, there was chatter of a possible LBO at $30 per share.

A spokesperson for New Oriental Education was not available for comment.

New Oriental Education closed at $19.00 Tuesday, a gain of 6% on twice average volume.

Hearing Chatter of Potential China Investment Corporation Stake in Cliff’s Natural Resources

The Rumor:
Shares of Cliff’s Natural Resources (NYSE: CLF) rallied early Thursday on report of a potential stake by China Investment Corporation. Cliff’s shares are coming off recent 52-week lows.

Spokespersons for Cliff’s and China Investment Corporation were not available for comment.

Cliffs Natural Resources closed at $17.32 Tuesday, a loss of almost 2% on 1.5 times average volume.

Report Delphi, Continental to Bid For Johnson Controls Divisions

The Rumor:
Shares of Johnson Controls (NYSE: JCI) traded higher Tuesday on a report from Bloomberg that Delphi Automotive (NYSE: DLPH) and Continental AG (OTC: CTTAY) have submitted offers for the company’s automotive electronics unit. The deal…
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Benzinga Market Primer: Friday, April 26

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Futures Lower Ahead of GDP

U.S. equity futures traded lower in early pre-market trade ahead of the key U.S. first quarter GDP report due out at 8:30 am eastern. Economists surveyed by Bloomberg are expecting a growth rate of 3.1 percent in the first quarter with the range of estimates between 2.3-3.3 percent. This would be a staunch improvement from the fourth quarter’s 0.4 percent growth.

Top News

In other news around the markets:

  • The Bank of Japan released its updated economic forecasts at its interest rate meeting overnight, estimating 2.9 percent growth for fiscal year 2013 and 2014 vs. 2.3 percent previously and sees the BoJ achieving 1.9 percent inflation by 2015 or 2016.
  • The China MNI Business Sentiment Index rose to 58.6 in April from 58.2 in March, showing that businesses and managers are still rather optimistic about the Chinese economy despite recent weak data.
  • Archer Daniels Midland (NYSE: ADM) increased its bid for Australian company Graincorp to $4.3 billion, making the deal a near certainty to go through according to analysts.
  • S&P 500 futures slid 5.5 points to 1,576.20.
  • The EUR/USD was flat at 1.3011.
  • Spanish 10-year government bond yields rose 5 basis points to 4.34 percent.
  • Italian 10-year government bond yields rose 7 basis points to 4.13 percent.
  • Gold rose 0.03 percent to $1,462.50 per ounce, retracing nearly 50 percent of its losses since its recent slide from above $1,600 per ounce to below $1,400.

Asian Markets

Asian shares were mostly lower overnight on disappointing forecasts from the Bank of Japan as well as no increase in its easing policy while inflation data showed that policy in Japan has had no impact as of yet. The Japanese Nikkei Index fell 0.3 percent and the Shanghai Composite Index fell 0.97 percent while the Hang Seng Index rose 0.65 percent. Also, the Korean Kospi fell 0.36 percent while Australian shares declined 0.1 percent.

European Markets

European shares gave back gains from earlier this week but peripheral shares were still up more than 4 percent on the week. The Spanish Ibex Index fell 0.94 percent while the Italian FTSE MIB Index fell…
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George Soros Takes a 7.9 Percent in J.C. Penney, Ackman Vindicated?

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Famed currency investor George Soros, famous for “breaking the sterling” in the 1980′s, has taken a large 7.9 percent stake in struggling retailer J.C. Penney (NYSE: JCP). Soros now is long the stock along with Pershing Square’s Bill Ackman and now is opposed by Carl Icahn.

Although he has taken a large stake, Soros’ SEC filing disclosed that the stake was a passive one, meaning that unlike Ackman, he will not try to exert influence on the company. The move comes so soon after J.C. Penney has seen earnings plummet, has seen the departure of its Chief Executive, and the departure of no less than 5 other key employees in the past few months.

Ackman’s Pershing Square owns approximately 17.8 percent of the stock and now has a key ally in the potential turn around of the company. Combined, the two investors own more than a quarter of the company, a very large position which should give the two power in the company should they choose to force shareholder votes for more changes.

The news came with a grain of salt however, as Chief of Construction Michael Kock became the latest executive to leave the company. The move can be seen as a stop-gap measure by the company, as reducing construction of new stores could save on Capital Expenditures, known as CapEx, and boost the bottom-line.

The bottom-line has been a serious problem as J.C. Penney lost $552 million in the fourth quarter, or $1.95 per share, much worse than the expected $0.18 per share loss. Revenue was also slightly weak in the quarter.

J.C. Penney is set to hold its annual meeting on May 13 and this event could be key to the company’s survival. New Chief Executive Myron Ullman could announce new measures as a stop-gap to halt losses and boost earnings while Ackman and Soros could express confidence in the company.

Analysts have been turning slightly more positive on the stock recently, as Gilford Securities has upgraded the stock twice in April, first from a sell to neutral and then from a neutral to a buy. Buckingham Research upgraded the stock on April 15 to buy from neutral and raised…
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Starbucks, Huntington Bancshares and Other Stocks Insiders Are Buying

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Insiders may sell shares for any number of reasons, but conventional wisdom is that insiders really only buy shares of a company for one reason — they believe the stock price will move higher and they want to profit from it.

Pullbacks and sell-offs provide a perfect opportunity for investors who have faith in a company to snap up shares. Here are some stocks that have seen insider buying recently.

Huntington Bancshares

The CEO and two directors bought more than 112,000 shares in the past two weeks. Altogether, that was worth more than $797,000. This commercial and consumer banking services provider recently boosted its dividend and last week named a new head of its treasury management division.

This Columbus, Ohio-based regional bank has a market capitalization of about $6.1 billion and a dividend yield near 2.8 percent. The price-to-earnings (P/E) ratio is lower than the industry average and the return on equity is less than 12 percent.

Shares of Huntington Bancshares (NASDAQ: HBAN) pulled back about eight percent in mid-April but have begun to recover. But over the past six months, the stock has underperformed competitors Fifth Third Bancorp (NASDAQ: FITB) and Keycorp (NYSE: KEY).

Key Energy Services

The CEO, COO, controller and two directors last week bought a combined 112,500 shares, which was worth more than $613,000, of this Houston-based onshore rig-based well servicing contractor. First-quarter EPS fell more than expected due to a falling inland rig count.

Key Energy Services (NYSE: KEG) has a market cap near $948 million. While the long-term EPS growth forecast is about nine percent, the return on equity is less than nine percent. The share price is down more than 12 percent year-to-date and hit a multiyear low last week. Over the past six months, the stock has underperformed the Dow Jones Industrial Average.

NuStar Energy

Three directors recently purchased 61,000 shares altogether of this San Antonio-based master limited partnership (MLP). That was worth more than $3.1 million. The company saw an analyst downgrade after posting first-quarter earnings that fell short of expectations.

NuStar Energy (NYSE: NS) has a market cap of…
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Benzinga’s M&A Chatter for Friday May 10, 2013

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday May 10, 2013:

Illumina Shares Soar on Rumor of Roche $88/Share Bid

The Rumor:
Shares of Illumina (NASDAQ: ILMN) surged higher Friday, after Swiss publication L’Agefi reported Swiss pharma giant Roche (OTC: RHHBY) had offered $88 per share to acquire the San Diego, CA-based genetic technology company. Illumina shares rose as high as $77.11 during the session.

After initially declining comment on the rumor, Roche said a deal for Illumina was “off the table”. Roche had previously made offers of $44.50 and $51 per share for Illumina, both of which were rejected by Illumina’s board. A rumored $60 offer never materialized.

Illumina closed at $69.98 Friday, a gain of 4% on 5.5 times average volume.

Actavis Confirms Merger Talks with Warner Chilcott

The Talks:
Shares of generic drug maker Actavis (NYSE: ACT) and Irish specialty pharmaceutical company Warner Chilcott (NASDAQ: WCRX) moved sharply higher Friday on a Bloomberg report that Actavis was in talks to acquire Warner Chilcott. Acatvis had reportedly been in merger talks with Valeant Pharmaceuticals (NYSE: VRX).

Both companies later confirmed that they were in early stage discussions regarding a potential merger, though no agreement had been reached.

Actavis shares gained 12% Friday, closing at $119.86 Friday. Warner Chilcott gained 20%, closing at $18.01.

True Religion to be Acquired by TowerBrook Capital Partners for $32/Share in Cash

The Deal:
After months of speculation, True Religion Apparel (NASDAQ: TRLG) announced Friday that it had entered into an agreement to be acquired by TowerBrook Capital Partners for $32.00 per share in cash, for a total of $835 million. The transaction is expected to close in Q3 2013.

True Religion Apparel closed at $31.82 Friday, a gain of 8% on 27 times average volume.

Hearing Unconfirmed Chatter of Icahn $25/Share Bid for Nuance

The Rumor:
There was vague market chatter Friday that investor Carl Icahn might bid as much as $25 per share for Nuance Communications. The chatter resulted most likely from a report that Icahn would be appearing mid-day on CNBC. Icahn currently has approximately…
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AdCare Health Systems Issues Employment Inducement Grant to New Chief Financial Officer

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

AdCare Health Systems (NYSE: ADK) (NYSE: ADK.PRA) announced today that it has issued to Ronald W. Fleming, who commenced serving as AdCare’s Chief Financial Officer on May 15, 2013, a ten-year warrant to purchase 70,000 shares of AdCare’s common stock with an exercise price of $5.90 per share. One-third of the shares underlying the warrant shall vest ratably on each of May 15, 2014, May 15, 2015 and May 15, 2016. The vesting of the underlying shares shall accelerate upon a change in control of AdCare. The warrant is exercisable for cash or by cashless exercise. The issuance of the warrant was approved by the Compensation Committee of AdCare’s Board of Directors.

About AdCare Health Systems, Inc. AdCare Health Systems, Inc. is a recognized provider of senior living and health care facility management. AdCare owns and manages long-term care facilities and retirement communities, and since the company’s inception in 1988, its mission has been to provide the highest quality of healthcare services to the elderly through its operating subsidiaries, including a broad range of skilled nursing and sub-acute care services. For more information about AdCare, visit www.adcarehealth.com.

Important Cautions Regarding Forward-Looking Statements This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with regard to the Company’s future expectations and prospects. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission. Except where required by law, the Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date of this press release.






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U.S. Steel, Genomic Health and Other Stocks Insiders Are Buying

by - May 21st, 2013 12:00 am

Courtesy of Benzinga.

Insiders may sell shares for any number of reasons, but conventional wisdom is that insiders really only buy shares of a company for one reason — they believe the stock price will move higher and they want to profit from it.

Pullbacks and sell-offs provide a perfect opportunity for investors who have faith in a company to snap up shares. Here are some stocks that have seen insider buying recently.

ACADIA Pharmaceuticals

One director, Felix Baker, bought more than 1.9 million shares last week. That was worth more than $24.9 million. This San Diego-based biopharmaceutical company has been discussed as a possible takeover target and it last week announced a secondary offering.

The market capitalization is about $1 billion and the long-term earnings per share (EPS) growth forecast is about 20 percent. Shares of ACADIA Pharmaceuticals (NASDAQ: ACAD) are up more than 180% year-to-date. Over the past six months, the stock has outperformed larger competitors AstraZeneca (NYSE: AZN) and Eli Lilly (NYSE: LLY).

Genomic Health

A director, Felix Baker again, last week bought more than 311,000 shares, which was worth more than $10.8 million, of this health care company. A novel genetic test by Genomic Health (NASDAQ: GHDX) to gauge the aggressiveness of prostate cancer became available on the market last week.

The diagnostics company has a market cap near $1.1 billion. While the long-term EPS growth forecast is about 33 percent, the return on equity is less than six percent. The share price is up more than 37 percent year-to-date and just shy of a new 52-week high. The stock has outperformed the broader markets over the past six months.

Murphy Oil

One director scooped up 30,000 Murphy Oil (NYSE: MUR) shares recently, at a price of more than $1.9 million, while other directors and executives were selling shares. This same director also bought 100,000 shares back in February.

This El Dorado, Arkansas-based oil and gas producer is in the process of spinning off its retail gas stations into a separate, publicly traded company. It has a market cap more than $12 billion and a dividend yield near…
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Chart School

The Philly Fed ADS Business Conditions Index

May 21st, 2013 11:35 am

Courtesy of Doug Short.

Note from dshort: After posted an update yesterday for the Chicago Fed National Activity Index, I received requests to update my periodic look at the Philly Fed ADS Index.

The Philly Fed's Aruoba-Diebold-Scotti Business Conditions Index (hereafter the ADS index) is a fascinating but relatively little known real-time indicator of business conditions for the U.S. economy, not just the Third Federal Reserve District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Thus it is comparable to the better-known Chicago Fed's National Activity Index, which is updated monthly (more about the comparison below).

Named for the three economists who devised it, the index, as described on its home page...



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Zero Hedge

Silver Recoups Sharp Loss And Rises 2% On Record Volume

May 21st, 2013 11:08 am

Courtesy of ZeroHedge. View original post here.

Submitted by GoldCore.

 

Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.  

Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce. 

Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher. 

Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we may have seen the bottom or are close to a bottom. 

...



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Phil's Favorites

Merkel Pins Cameron in Corner; Will Cameron Bury His Head in the Sand, Pretending to Not Notice?

May 21st, 2013 2:59 am

Courtesy of Mish.

UK prime minister, David Cameron, promised to hold a referendum on whether Great Britain should remain in the EU, but only on two conditions. The first condition, that Cameron be re-elected as prime minister is iffy enough.

The second condition, that Cameron renegotiate the Lisbon Treaty, I said would never happen. And it won't.

German Chancellor Angela Merkel sealed the fate on that score as Berlin plans to streamline EU but avoid wholesale treaty change.
Berlin is drawing up plans for treaty changes to streamline decision-making in the eurozone, while stopping short of any wholesale renegotiation that would allow the UK to repatriate powers from Brussels.

Although Angela Merkel, German chancellor, has expr...



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Insider Scoop

Benzinga Market Primer: Wednesday, May 15

May 21st, 2013 12:00 am

Courtesy of Benzinga.

Futures Lower on Weak European Growth Data

U.S. equity futures traded lower in early pre-market trade following a weaker than expected GDP report from the eurozone for the first quarter. GDP growth rose to -0.2 percent on a quarterly basis from -0.6 percent but missed forecasts of a 0.1 percent contraction. Weakness was notably seen in Germany, France, and Italy in the report, with the annualized rate of growth for Germany dropping to -1.4 percent vs. 0.2 percent growth forecast.

Top News

In other news around the markets:

  • The U.K. had fewer people claim unemployment benefits in April than expected, a positive sign for the labor market as the ...


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Sabrient

What the Market Wants: No Easy Answer

May 20th, 2013 7:39 pm

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

So, what did the market want today?  Nothing it appears.  It traded on weak volume and had very little movement.  This morning the market hated commodities especially silver, but by days end, the market liked silver, gold and even oil but not the dollar.  Why?

Last week the economic reports were tough, with bad misses on more than one occasion.  But the market tended to ignore the bad news, probably because money continues to pour into equities from money market funds, long term fixed income, and many struggling foreign economies.  On Thursday, investors finally caved to even more bad news from Initial Jobless Claims and weak Housing Starts.  Then on Friday, when Michigan Sentiment and Leading Indicators posted large positive surprises, the money came pouring back to generate qui...



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Option Review

ING US Call Buyers Look For Shares To Extend Post-IPO Rally

May 20th, 2013 6:06 pm

 

Today’s tickers: VOYA, GRPN & SIGM

VOYA - ING US, Inc. – Shares in ING Group’s U.S. retirement, investment and insurance business are up as much as 8.0% today to $26.98, the highest level since the company’s May 2nd IPO. ING US was rated new ‘buy’ at BTIG LLC with a 12-month target share price of $31.00 today. The stock has rallied nearly 40% over the IPO price of $19.50, and some options traders are positioning for the price of the underlying to extend gains during the second half of the year. November expiry options are the most ac...



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Market Montage

Status Quo Redux…

May 20th, 2013 8:49 am

Submitted by Mark Hanna

Courtesy of MarketMontage. View original post here.

Again, not much to add to this market in terms of analysis – nothing matters other than central banks.  Last Wednesday/Thursday there were some 9 economic reports, 7 of which were disappointing or could be considered as such and all it got was one rare day down, and then new highs Friday.  Markets are up 10 of the past 12 sessions and 17 of 21.   Friday's move to 1666 was an exact 1000 point rally from March 2009's 666 bottom.  Since this most recent leg of the move has been medium fast rather than a huge spike ala 1999, things are not necessarily overbought on the daily chart but we are seeing extremely rare action on the ...



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OpTrader

Swing trading portfolio - week of May 20th, 2013

May 19th, 2013 11:38 pm

Reminder: OpTrader is available to chat with Members, comments are found below each post.

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here

Optrader 

...

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All About Trends

Mid-Day Update

May 19th, 2013 1:40 pm

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Stock World Weekly

Stock World Weekly

May 19th, 2013 1:09 am

NEW: Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest Stock World Weekly! Just sign in with your PSW user name and password, or sign up to try it out. 

...

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IRA Strategy/Income Trader

The IRA portfolio

May 15th, 2013 7:35 pm

Reminder: Craigzooka is available to chat with Members regarding his virtual portfolio performance, comments are found below each post.

By Craigzooka

I am going to share with you how I manage my IRA and the power of reducing your cost basis.  My goal each year is a 20% return in my IRA.  Sometimes I make it and sometimes I don't, but I believe that all of my success is due to reducing my cost basis.  To illustrate the power of reducing your cost basis here are some trades we did last year.  These trades are taken from an educational portfolio we ran in a paper-trading account for a little more than a year.

  • We bought RIG on 5/15/2012 for $44.13, sold it on 1/18/2013 for $46 but booked a profit of $1,154.
  • We bought MT on 1/4/2012 for $19.24, sold it on 12/21/2012 for $15 but booked a profit of $454.
  • We bought CHK on 1/27/2012 for $21.93, sold it on 10/19/2012 for $18 b...


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ETF Selector

Stock Market Gets Big News After Friday’s Close

May 12th, 2013 7:23 am

Courtesy of John Nyaradi.

Stock market posts another record setting week, but the big news came after Friday’s close.

Courtesy of NASA

The stock market put on another record setting show with the Dow Jones Industrial Average (NYSEARCA:DIA) closing at a record high 15,118 and the S&P 500 (NYSEARCA:SPY) closing at 1633.70, another all time closing high.

For the week, the Dow Jones Industrial Average (NYSEARCA:DIA) gained 1%, the S&P 500 (NYSEARCA:SPY) climbed 1.2%, the Nasdaq Composite (NYSEARCA:...



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Pharmboy

Give Them an Inch, They Will Take a Mile

January 21st, 2013 8:09 pm

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Well, well, well....it is good to know that there are others in the scientific arena who believed that YMI Bioscience's data (cough - Gilead) is a better drug than Incyte's Jakafi.  Now, the definitive data are still unknown, but there was enough evidence from a Phase 2 trial to take a small risk for a huge reward.  So, let's forget about Apple (AAPL), and do nothing but biotechs from now until Congress passes universal health care coverage for prescriptions....and drive the prices down so that research and development is no longer feasible to conduct in the US. Even Seattle Genetics (SGEN) has been on a tear as of late...



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