Daily Markets - Carts And Horses: Should The U.S. Government Take On Additional Debt?
Daily Markets - Carts And Horses: Should The U.S. Government Take On Additional Debt? |
- Carts And Horses: Should The U.S. Government Take On Additional Debt?
- A Matter Of When
- The Case For Optimism And 20 Charts To Prove It
- Initiating Pernix At Outperform
- CSC Enhances Product Portfolio
- Aetna Issues $750M In Notes
- More On Global Shipping Boom. What Double-Dip?
- Integra Recalls Brain Catheters
- Encouraging Results From AVII
- Truck Tonnage Index Increases For 8th Month
- Jacobs Wins Contracts
- Rio Upgraded To Outperform
- BioMarin Evenly Poised
- BHP Reports Above Expectations
- DexCom Reiterated At Neutral
- Cepheid Stays Neutral
- Another Deal For Cyberonics
- China Dumps US Treasuries - Are Times Changing?
- New Deal For Juniper
- Cummins To Invest $160M In India
- Successful Investors Like Stocks Better When They’re Going Down
- Beef Shortage Could Boost Agriculture ETFs
- Weyerhaeuser’s Special Dividend
- IBM Sued By Rambus
- A Tolerance For Event Risk Leads Oil To A Correction, Gold To New Highs
| Carts And Horses: Should The U.S. Government Take On Additional Debt? Posted: 25 Aug 2010 05:01 PM PDT In a CNBC debate last week, former Labor Secretary Robert Reich presented a set of contradictory beliefs that unfortunately reflect the conventional wisdom of modern economists. In a discussion with Wall Street Journal columnist Stephen Moore, Reich correctly and comprehensively listed the reasons why American consumers could spend so lavishly before the crash of 2008 and why they can no longer keep up the pace. But instead of making the logical conclusion that former levels of spending were … [visit site to read more]
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| Posted: 25 Aug 2010 04:52 PM PDT In a new paper, “Guessing the Trigger Point for a U.S. Debt Crisis,” George Mason University professor and economics blogger Arnold Kling speculates on when the U.S. might have to pay the piper for its many (fiscal) sins. Leading authorities in the United States, including the Congressional Budget Office, use the term unsustainable to describe the long-term fiscal outlook. By the year 2080, spending on entitlements alone could exceed total federal tax revenues. In … [visit site to read more]
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| The Case For Optimism And 20 Charts To Prove It Posted: 25 Aug 2010 04:30 PM PDT From today’s Wall Street Journal article “The Case for Optimism” by Ross Devol, executive director of economic research at the Milken Institute: “There’s a point at which pessimism becomes a self-fulfilling prophesy, scaring businesses away from investing or hiring. The dark tone of today’s discourse is at risk of doing just that. The Milken Institute’s new study, “From Recession to Recovery: Analyzing America’s Return to Growth” is based on extensive and dispassionate econometric analysis. … [visit site to read more]
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| Initiating Pernix At Outperform Posted: 25 Aug 2010 03:05 PM PDT Q2 2010 Results First quarter net sales were $8.87 million, up 23% year-over-year and were aided by the third quarter 2009 introduction of the Brovex line. Second quarter net sales of $4.36 million fell roughly 50% sequentially and were down 33% year-over-year. The launch of Cedax during the second quarter 2010 provided what we believe was a modest contribution to revenue in the quarter but was insufficient to offset significantly lower sales of the Aldex and Pediatex products, of which … [visit site to read more]
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| CSC Enhances Product Portfolio Posted: 25 Aug 2010 03:05 PM PDT Leading technology solutions provider CSC Inc. (NYSE:CSC) is rolling out new products and services. The company recently released new web-based software called Vendor Solutions Suite. The new software suite is expected to improve vendor management in large firms by automating the process and identifying key metrics that could help improve the efficiency of the system and reduce costs. A macro view of this software suite indicates that it will facilitate the process of relationship management with … [visit site to read more]
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| Posted: 25 Aug 2010 03:05 PM PDT Aetna Inc. (NYSE:AET), one of leading U.S. health care providers, yesterday announced the offering of 10-year notes amounting to $750 million. The size of the issue was originally $500 million. The proceeds from the issue will be used to retire commercial paper and for general corporate purpose. Aetna had $697 million of commercial paper outstanding as of June 30, 2010. The notes, which are denominated as senior notes, carry a rating of "Baa1" from Moody's Investors Service, a subsidiary … [visit site to read more]
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| More On Global Shipping Boom. What Double-Dip? Posted: 25 Aug 2010 02:37 PM PDT 1. “Georgia’s Port of Savannah reported the busiest month for container shipments in its history in July, with 251,126 20-foot equivalent units moving through the port in an accelerating shipping recovery. The 20.7 percent year-to-year increase marked the eighth straight month of double-digit growth in volume at the Georgia Ports Authority's Savannah terminals.” 2. “Container volume at the Port of Charleston increased 26 percent in July over the same month last year, giving the port its … [visit site to read more]
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| Integra Recalls Brain Catheters Posted: 25 Aug 2010 02:35 PM PDT Medical devices maker Integra LifeSciences Corporation (NASDAQ:IART) has reportedly initiated an urgent global recall of its NeuroBalloon Catheter. The U.S. Food and Drug Administration (FDA) is expected to classify it as a Class 1 recall for catheters, which is the most serious type of recall as the affected products can be potentially hazardous or even cause death.
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| Posted: 25 Aug 2010 02:35 PM PDT Recently, AVI BioPharma, Inc. (NASDAQ:AVII) disclosed encouraging preclinical data from two studies which evaluated the efficacy of its influenza candidate AVI-7100. The candidate is being developed under a contract awarded to the company through the US Department of Defense's Transformational Medical Technologies (TMT) program in June 2010. The contract provides for up to $18 million to advance the development of the candidate. The preclinical studies, conducted on ferrets, revealed that the … [visit site to read more]
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| Truck Tonnage Index Increases For 8th Month Posted: 25 Aug 2010 02:19 PM PDT ARLINGTON, VA — “The American Trucking Associations' advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 1.5% in July, although June's reduction was revised from 1.4% to 1.6%. The latest improvement raised the SA index from 108.3 (2000=100) in June to 110 in July. Compared with July 2009, SA tonnage climbed 7.4%, which matched June's increase and was the eighth consecutive year-over-year gain (see chart above). Year-to-date, tonnage is up 6.7% compared with … [visit site to read more]
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| Posted: 25 Aug 2010 02:05 PM PDT Jacobs Engineering Group Inc. (JEC) has won a contract from IOT Infrastructure & Energy Services Limited (IOT) (formerly Indian Oiltanking). Although, the contract value has not been disclosed, the transaction cost is estimated to be $60 million.
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| Posted: 25 Aug 2010 02:05 PM PDT We upgrade our recommendation on Rio Tinto (RTP) from Neutral to outperform based on the slight improvement in the economy and the new quarterly pricing system. The new system has increased commodity prices by more than 50% on an average leading to an encouraging interim result during the fiscal 2010.
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| Posted: 25 Aug 2010 02:05 PM PDT We are maintaining our Neutral recommendation on BioMarin Pharmaceutical (NASDAQ:BMRN) with a target price of $21. BioMarin develops and commercializes biopharmaceuticals for serious diseases and medical conditions. The company’s product portfolio comprises of four approved products and several investigational product candidates. The marketed products include Aldurazyme, approved in 2003 and co-marketed with Genzyme Corporation (NASDAQ:GENZ) for the treatment of MPS-I (mucopolysaccharidosis); … [visit site to read more]
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| BHP Reports Above Expectations Posted: 25 Aug 2010 01:35 PM PDT BHP Billiton Ltd. (BHP) has reported results for fiscal 2010 with net income (excluding special items) of $12.5 billion, up 16.3% year over year from $10.7 billion in fiscal 2009. Earnings per ADR excluding special items also grew to $4.47 from $3.83 in the previous year. It surpassed the Zacks Consensus Estimate of $3.54 per ADR.
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| Posted: 25 Aug 2010 01:10 PM PDT We reaffirm our Neutral recommendation on DexCom Inc (NASDAQ:DXCM), a prominent player in the continuous glucose monitoring market. Second-quarter fiscal 2010 loss per share of 20 cents matched the Zacks Consensus Estimate while revenues soared 75% year-over-year riding on solid product sales.
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| Posted: 25 Aug 2010 01:05 PM PDT We recently reiterated our Neutral recommendation on Cepheid (NASDAQ:CPHD) with a target price of $16.00. Cepheid reported a loss per share of 3 cents in the second quarter of fiscal 2010, compared to a loss of 12 cents in the year-ago quarter and the Zacks Consensus Estimate of a loss of 10 cents. Excluding special items, the company reported an EPS of 5 cents, compared to the year-ago loss of 4 cents per share. Revenues were $49.6 million, up 21% from the year-ago quarter, of which $48.6 … [visit site to read more]
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| Posted: 25 Aug 2010 01:05 PM PDT Cyberonics (NASDAQ:CYBX) has reinforced its existing relationship with NeuroVista Corp. by another agreement related to the field of EEG-based seizure detection. Earlier, in October 2009, the company announced that it licensed the NeuroVista technology encompassing the areas of seizure detection, rechargeable battery system, wireless communication, and an implantable lead. Subsequently, in July 2010, the company entered into another agreement related to an external charging system for an implanted … [visit site to read more]
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| China Dumps US Treasuries - Are Times Changing? Posted: 25 Aug 2010 01:01 PM PDT We all know the US flogs its debt to anyone willing to buy it. And up until recently, that’s been China. Very slowly, over the past twelve months China has been lowering its exposure to US treasuries. In fact, in the last twelve months, they’ve offloaded about USD$100 billion dollars worth. Some of this has been by simply not purchasing more bonds upon maturity. While some of it has been by turning those US dollars into precious resources. Instead of waiting for bonds to mature, it has … [visit site to read more]
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| Posted: 25 Aug 2010 12:35 PM PDT Juniper Networks Inc. (NASDAQ:JNPR), one of the leading providers of networking infrastructure products and services, recently announced that it would provide its Media Flow Solutions to privately held BitGravity. Founded in 2006, BitGravity has emerged as a technology leader in the video and media delivery space. The company's video/content delivery network (CDN) eases out complexities relating to the delivery of high definition (HD) video through the Internet. BitGravity's CDN platform also … [visit site to read more]
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| Cummins To Invest $160M In India Posted: 25 Aug 2010 12:35 PM PDT The Indian arm of Cummins Inc. (NYSE:CMI) has announced its plan to invest up to Rs.7.5 billion ($160 million) to expand capacity at its Phaltan site in Maharashtra, India. The company intends to set up at least six manufacturing facilities at the site over a span of two years. The Phaltan site manufactures diesel and gas engines of various capacities to cater to the power, industrial and automotive markets in India, U.S. and Europe. The investment will enable the company to produce a range of … [visit site to read more]
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| Successful Investors Like Stocks Better When They’re Going Down Posted: 25 Aug 2010 12:17 PM PDT Seth Klarman ~ Quote of the Week
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| Beef Shortage Could Boost Agriculture ETFs Posted: 25 Aug 2010 12:17 PM PDT As the global appetite for cattle widens and supplies in the US begin diminishing, a supply and demand imbalance could potentially push cattle prices through the roof enabling exchange traded funds like the PowerShares DB Agricultural Fund (DBA), the iPath Dow Jones-UBS Livestock Subindex Total Return ETN (COW) and the UBS E-TRACS CMCI Livestock TR ETN (UBC) to reap the benefits.
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| Weyerhaeuser’s Special Dividend Posted: 25 Aug 2010 12:05 PM PDT Weyerhaeuser Co. (NYSE:WY) on September 1, 2010, will be paying its special dividend worth $5.6 billion, with cash payments restricted to 10% or $560 million. Shareholders of record as on July 22 were given options for stock or cash payments.
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| Posted: 25 Aug 2010 12:05 PM PDT International Business Machines Corp. (NYSE:IBM) was sued by chip designer Rambus Inc. (NASDAQ:RMBS) challenging the ruling given by the U.S Patent and Trademark Office in favor of IBM in a patent infringement case. The patent relates to a memory controller, which communicates to a memory subsystem via an independent point-to-point link. Rambus filed the suit in a federal court in San Jose, CA. The ruling given by the office’s Board of Patent Appeals and Interferences on Jun 24, 2010, stated that … [visit site to read more]
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| A Tolerance For Event Risk Leads Oil To A Correction, Gold To New Highs Posted: 25 Aug 2010 11:00 AM PDT North American Commodity Update
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