STOCK MARKET WATCH, Tuesday January 16

[ozymandius]

Tuesday January 16, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 734 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2212 DAYS
WHERE'S OSAMA BIN-LADEN? 1917 DAYS
DAYS SINCE ENRON COLLAPSE = 1878
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 7
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54


U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES




AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON January 12, 2007

Dow... 12,556.08 +41.10 (+0.33%)
Nasdaq... 2,502.82 +17.97 (+0.72%)
S&P 500... 1,430.73 +6.91 (+0.49%)
Gold future... 626.90 +13.00 (+2.07%)
30-Year Bond 4.86% +0.04 (+0.81%)
10-Yr Bond... 4.77% +0.03 (+0.72%)






GOLD, EURO, YEN, Loonie and Silver


PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

[ozymandius]

1. WrapUp by Paul Nolte

WHAT'S IN STORE FOR 2007?

The New Year has become old very quickly, especially for those trading the commodity complexes, while stock investors - after a rough start have hit their pre-New Year stride. Economically speaking, do the financial markets still believe that goldilocks is still rummaging around the house - or are the three bears just about to enter stage left?

The figures that we have focused upon over the past couple of years to assist us in determining the strength of the economy are the ISM figures - both for manufacturing and the services. While manufacturing dipped below 50 in December (causing a commotion among economists), it quickly reverted back to above 50 with the most recent figures and with a lower price component to boot. The service side, which accounts for somewhere between 60-80% of the economy depending upon who is talking, remains well above the magic 50 number that indicates an expansion in that part of the economy. Pile upon the ISM figures a bounce in the housing figures (refinance and new mortgage activity) and we may be seeing the early stages of a growth spurt - not unlike one that many of our children occasionally experience! Today’s retail sales figures translate to a 4% spending rate and will boost GDP for the fourth quarter – now estimated at 3%, up from a relatively mild 2.6% before these reports. Confirmation of a strong economy is best seen in the bond market, where rates have backed up to over 4.75% from nearly 4.5% just a couple of weeks ago. In fact, little discussion has been heard about a Fed cut during the first quarter that was rampant around Thanksgiving.

Equity investors have been looking at historical trends and seasonal factors to help guide them through this year's markets. Whether the third year of a presidential cycle or the fact that the market has increased four consecutive years bolsters either the bullish or bearish case respectively. What tends to get ignored is a hard look at valuation levels of the markets. True, earnings have been growing at double digit rates for as long as many analysts can remember (ok, so they are a bit young!), and are scheduled to slow a bit to somewhere around 6-8% - still well above the GDP rate of the economy. The market multiple based upon guesstimate earnings (i.e., forward EPS) is somewhere in the 14-15x camp, with the more reliable (and more robust historically) trailing EPS of 18+x. While it is true that these multiples are the lowest in nearly 10 years, they are nowhere near to low (let alone lowest) over the past 25, 50 or 100 years. The US equity market remains expensive by most measures and a reversion to the mean (of 14-15x TRAILING) is likely to occur AT SOME POINT. However, since the markets can remain irrational longer than we can remain solvent, what are investors to do? Many individual investors take an all or nothing view of stocks - either we buy or sell. However, a better alternative is to begin shaving positions in areas that have run and rotate the money into areas that have been dormant.

http://www.financialsense.com/Market/wrapup.htm

[ozymandius]

2. Today's Report

8:30 AM NY Empire State Index Jan
Briefing Forecast 13.0
Market Expects 20.0
Prior 23.1

http://biz.yahoo.com/c/e.html

[ozymandius]

3. Oil falls $1, Saudi says no need to panic

LONDON (Reuters) - Oil prices fell more than a dollar to below $52 a barrel on Tuesday after Saudi Arabia's oil minister said OPEC production cuts were working well and there was no need for an emergency meeting of the producer group.

By 1233 GMT on Tuesday, U.S. crude was $1.09 lower at $51.90, while Brent futures shed 91 cents to $52.21.

U.S. crude was barely above a 19-month low of $51.56 hit lost week, which took losses since the end of last year to around 15 percent.

-cut-

There has been speculation OPEC could hold an emergency meeting before its next scheduled conference on March 15.

http://news.yahoo.com/s/nm/markets_oil_dc

[ozymandius]

4. BP's Problems Cost CEO His Job

Two years ago, John Browne -- also known as Lord Browne of Madingley -- was the toast of the corporate world and had entered popular culture for making BP stand not only for an oil company but also for a firm looking "beyond petroleum."

Since then, Browne's reputation has been tarnished by a series of debacles -- a refinery explosion in Texas that killed 15 people, leaky Alaska pipelines that shut down the biggest U.S. oil field, costly delays in a big Gulf of Mexico production platform and U.S. government accusations of cornering the propane market and manipulating gasoline futures contracts.

Yesterday, BP's board of directors announced that the man picked three times as Britain's most-admired executive was finished. The company said Browne, who will turn 59 next month, would leave in June, 18 months earlier than scheduled. The company's head of exploration and production, Tony Hayward, 49, will take over.

http://www.washingtonpost.com/wp-dyn/content/article/2007/01/12/AR2007011201096.html

[ozymandius]

6. Nigeria clashes leave a dozen dead

PORT HARCOURT, Nigeria - Royal Dutch Shell evacuated staff from two oil installations in southern Nigeria and the military boosted troop levels in the volatile area Tuesday after community clashes left a dozen community chiefs dead, officials said.

Bisi Ojediran, a spokesman for Shell PLC, said only a skeleton crew remained at the two evacuated pipeline hubs in the Niger Delta region, a vast area of mangrove swamps where all of the crude in Africa's largest producer is pumped.

Production had not been affected by the fighting, which Ojediran characterized as a community fight. He gave no details of how many staff were evacuated.

"This seems to be an inter-community problem and not a direct attack on the oil company by militants," he said.

http://news.yahoo.com/s/ap/20070116/ap_on_re_af/nigeria_oil_unrest_1

[fasttense]

10. So did the Saudis raise their production levels

to punish someone for selling more than their quota, or is this drop a real supply and demand drop? Or are the Saudis giving the American market (not citizens because in their eyes and the bushes eyes we are only a market) a break so we will support the escalation of the Iraq war? Don't you just love monopolies, I mean free markets.

[ozymandius]

13. The drop is a result of major investment banks withdrawal from oil.

Big banks are primarily to blame for the huge price peaks that we saw one year to six months ago. Funny that back then - turmoil in the middle east and Africa brought high prices (as the news reports said). That was true to a small degree. What was never widely reported was the big banks gaming the oil and gasoline future markets. Now, really, turmoil has investment banks nervous about a sustained supply of oil. 'Markets hate uncertainty' as the saying goes. So big players have gone looking elsewhere for a reasonable return on futures.

[AnneD]

18. Panel criticizes BP safety efforts

BP's most senior executives failed to emphasize the importance of safe operations within their U.S. refineries, resulting in widespread problems throughout the plants, a harshly worded and highly critical report released today says.

Federal investigators have said such problems have led to the March 2005 blast in Texas City, where 15 people were killed and scores more injured.

The report was prepared by an independent safety review panel chaired by former Secretary of State James A. Baker III. The panel is made up of 11 people with expertise ranging from process safety to risk management to nuclear power.

The report says BP's board should appoint an independent monitor to routinely report back over the next five years on progress the company is making toward implementing 10 recommendations being made by the panel.

http://www.chron.com/disp/story.mpl/business/4472762.html

Dang if Baker isn't a busy concileria....:eyes:
wonder what the connections are.

[UpInArms]

5. (somewhat daily) dollar watch

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 84.74 Change -0.23 (-0.27%)

US Dollar (USD) Steady as Fed Fund Futures Price in at Most, a 25bp Cut by Dec

http://www.dailyfx.com/story/dailyfx_reports/daily_fundamentals/US_Dollar__USD__Steady_as_1168893602321.html

US Dollar - With the US markets closed for Martin Luther King Jr. Day, it not surprising to see currency trading grind to a halt after the London close. Even though there was no US economic data released today, it does not undermine the fact that this will be a busy data week. The main focus here in the US as well as globally is inflation. Both consumer and producer prices are due for release this week in addition to the Treasury International Capital flow report, the Empire State manufacturing index, the Philadelphia Fed index and the Beige Book report. On balance, the reports are expected to be positive for the dollar, but after such an extensive rally last week, the question is whether there are actually any actually buyers left in the market. According to both our speculative sentiment index and the Commitment of Traders report, there may be. Although both indicate that the market has turned long dollars, neither is anywhere near extreme levels. Since the beginning of the year, we have received a lot of US economic data that indicates that the entire market from analysts to traders have underestimated the resilience of the US economy. Over the past week, we have seen across the board revisions to fourth quarter GDP data with some analysts even projecting growth in excess of 3 percent thanks to a narrower trade deficit, stronger retail sales and a healthy labor market. The drop in oil prices has boosted GDP and encouraged traders to abandon any thoughts that the Federal Reserve will opt to lower rates in the first half of the year. This sentiment is reflected in the Fed Fund futures which went from pricing in a 70 percent chance of a first quarter rate cut at the beginning of last month to a nominal chance of a 25bp cut by the end of this year. We start the busy data week tomorrow with the Empire State manufacturing survey. Having not felt the drag that we saw in the Philly Fed index last month (it turned negative), the survey of manufacturing conditions in the NY region is expected to continue to drop in the month of January.

...more...

Dollar: No Slowdown In Sight

http://www.dailyfx.com/story/strategy_pieces/trade_or_fade/Dollar__No_Slowdown_In_Sight_1168848215350.html

After month of sounding uber hawkish Jean Paul Trichet suddenly appeared quite reticent on the subject of future rates hikes offering no assurance that the Central Bank will raise rates by 25bp in February. As a result the EUR/USD plunged further breaking the 1.2900 barrier for a few hours last week as traders readjusted their expectations to March. No doubt the ECB is troubled by the lackluster consumer demand in the 12 member region as German Retail sales actually contracted –0.3% versus an expected 1.0% gain. The ECB is caught in a tough balancing act as it tries to nurture the nascent recovery that has taken unemployment rates to 3 year lows, and at the same time contain the swelling pools of liquidity that saw M3 balloon to near double digit rates on a year over year basis. As we noted on Friday, “unless the region suddenly hits a massive slowdown, the trend in rates in EZ remains to the upside and that in turn should provide long term support for the unit.” Furthermore, this week Barron’s notes that the free cash flow yield for EZ equities is 6.5% while the cost of credit is 5% presenting many buyout specialists with attractive M&A targets which is yet another factor that should prove supportive to the currency but as longer term factor rather than an immediate trigger to buy.

Next week EZ Industrial Production could offer a small boost to the euro as it is expected to rebound to 0.8% from –0.1% the month prior and the ZEW survey is forecast to improve as well. Overall however, the EZ economic calendar is decidedly second rate this week as trading will most likely ricochet between those traders who bet that the next ECB rate hike comes in Februray and those who will argue that nothing will happen until March - BS

...more...

[ozymandius]

7. Democrats pledge to extend minimum wage

WASHINGTON - Fending off charges of favoritism, House Democrats say a just-passed minimum wage bill will be changed to cover all U.S. territories — including American Samoa — before it reaches President Bush's desk.

House Speaker Nancy Pelosi (news, bio, voting record), D-Calif., told reporters she has instructed the House Education and Labor Committee to help get the bill changed to "make sure that all of the territories have to comply with the U.S. law on minimum wage."

Her remark Friday followed accusations from Republicans a day earlier that American Samoa, which is not now covered by the $5.15 an hour federal minimum wage, was not included in the law raising the federal pay floor to $7.25 an hour because StarKist has a large cannery in the island chain. StarKist is owned by Del Monte Foods Co., which has its headquarters in San Francisco, Pelosi's district.

-cut-

The bill was passed Wednesday by the House as part of the Democrats' 100-hour agenda. The measure included in its coverage another U.S. territory, the Northern Mariana Islands, which had been shielded in the past from the wage law with the help of former House Majority Leader Tom DeLay, R-Texas, and GOP lobbyist Jack Abramoff, now serving a prison sentence.

http://news.yahoo.com/s/ap/minimum_wage

[ozymandius]

8. Technology, globalization changing retail landscape

NEW YORK (Reuters) - Technology and globalization are changing the retail landscape and successful retailers will be those who can respond and adapt to those changes, attendees of the National Retail Federation's annual convention were told on Monday.

Speaking to a crowded ballroom on Monday morning in New York, National Retail Federation President and Chief Executive Tracy Mullin, Metro AG (MEOG.DE) Chief Executive Hans-Joachim Koerber, and Microsoft Corp. (Nasdaq:MSFT - news) Chief Executive Steve Ballmer said technology and the Internet have altered how consumers shop and what they expect from retailers.

-cut-

Retailers who have set up customer reviews, where shoppers can give feedback on products they have purchased, have reported more satisfied customers and fewer returns, she said, because consumers can lean from the experience of others and avoid products with bad reviews.

"The consumer is absolutely in a different position today and going forward than the consumer was in the past," Ballmer told the crowd.

http://news.yahoo.com/s/nm/20070115/bs_nm/retail_nrf_keynotes_dc_3

[ozymandius]

9. Stock Futures Point Higher

U.S. stock futures edged higher on Tuesday after a three-day break, with General Electric Co. in focus after agreeing to make an overseas purchase and with data likely to show improving New York-area manufacturing sentiment.

S&P 500 futures rose 2.2 points at 1,443.00 and Nasdaq 100 futures advanced 4 points at 1,866.25. Dow industrial futures rose 25 points.

-cut-

After gains on Monday, European stock markets were steady, with the FTSE 100 down a fraction of a percentage point. The Nikkei 225 in Tokyo closed fractionally lower as well.

The U.S. dollar was lower against the euro, after stronger-than-forecast German investor sentiment in January. The Empire State manufacturing survey probably also showed improving sentiment, according to economist forecasts.

http://biz.yahoo.com/ap/070116/wall_street.html?.v=4

[ozymandius]

11. Have a wonderful day folks!

And good morning :donut: :donut: :donut:

After getting a late start to the day - it's time to boogie outta here.

I'll try to return before the close.

Ozy :hi:

[AnneD]

17. Morning Marketeers....

:donut: and lurkers.

Religious Experences....Texas Style

I know this may offend some of my Vegan friends, but I had a religious experience this week end.

My Texas roots run deep-like ancestors founding several towns in Texas deep. They only time that the family sojourned out of Texas and into the Arizona territory was due to a familial run in with a Texas Ranger. They cooled their heels there for 2 generations. Anyway, back to my religious experience.

I love bbq...with a passion. And the best is here in Texas. Plenty of folks in other places will brag, and their fool is good-but it is not a religious experience. You have to go to Texas for that. And like any true religion, it knows no race, colour, or status. Folks have been known to travel many miles to get good bbq. Rich white folk will drive to the poorest ghetto or barrio if there is a smoky reward at the end of the journey. A good bbq master is like a preacher-folks worship at their feet. They can have an extensive following. They can minister from a gypsy food wagons by the roadside or giant cathedrals hewn from raw wood and filled with a smoky aroma.

Now some folks take their communion in the form of brisket, sausage, and even chicken. But the king of all bbq is the beef rib. Some folks will say it is the pork rib that is the best-but that is heresy. Ranches didn't herd pig. Now if you want a luau, a pig is a good grind-but it does not impart the good for your soul taste that will cause me to swoon. The really good bbq (esp beef ribs) can stand alone or maybe with a bit of onion and pickle, but the good sides to go with it are potato salad, cole slaw, beans and your token white bread for sopping up the sauce. If you are really hungry, you can top your meal off with cobbler, pecan pie, or if you are lucky-banana pudding.

I had a brief sojourn to New Mexico for 4 years. Sometime, within those intervening years...the beef rib became replaced in most bbq establishment in Houston, by the usurper pork rib. That greasy, fatty excuse for meat is like a bastard at a family reunion. I have been on a 4 year quest to find a decent bbq place that served beef ribs. And this weekend-my quest was rewarded. It was right under my nose. I had a plate of juicy tangy ribs that you had to eat twice (you eat the meat off first, then, as you are sitting around, you notice that there is still plenty of 'good' meat on them and you clean those bone like they've been in the desert for a month. I had thought of desert, but knew that I had not indulged in ribs in a while so I decided not to partake. But this place offered a bit more than tea and sodas. They offered agua frescas. To those of you unfamiliar-agua frescas are the Mexican version of homemade kool aid-with fresh ingredients. I topped my meal off with a watermelon agua fresca. It was like finishing your meal off with a liquid watermelon. While the temp was hovering in the low 40's outside-I was enjoying a taste of summer. And folks, it doesn't get any better than that.

Happy hunting and watch out for the bears.

[ozymandius]

42. Auburn Avenue Rib Shack

Died in 1997. Resurrected in 2005. Worth the trip.

[texpatriot2004]

12. K & R nm

[nitpicker]

14. Some of today's market babble

14 min ago
The major averages are now trading in split fashion as sellers regain some momentum within the last 30 minutes. After briefly hitting a new intraday all-time high, the Dow has since run into some resistance. Intel (INTC 21.82 -0.31) is the Dow's worst performing component (-1.4%) amid concerns it will say after the close that earnings fell for a fourth straight quarter.

Also contributing to further deterioration in Technology (-0.4%) is consolidation in bellwether Cisco Systems (CSCO 28.32 -0.60), which is down 2.1% after it was downgraded on valuation concerns. The PHLX Semiconductor Sector Index is also under pressure following analyst downgrades on KLA-Tencor (KLAC 50.88 -1.29) and Novellus Systems (NVLS 31.97 -0.78). Throw in a Q3 warning from Symantec (SYMC 18.98 -1.50) and it appears investors are becoming a bit worried about tech's earnings prospects and the sustainability of recent gains that have earmarked Tech as this year's best performing S&P 500 sector (+4.2%).

..SOX -1.2%.

44 min ago
Equities are still on the offensive as eight out of 10 sectors remain positive. Industrials (+0.5%) is pacing the way as Transports get a boost from plunging oil prices (-1.6%) as well as analyst upgrades on FedEx (FDX 112.00 +3.14) and Southwest Airlines (LUV 16.40 +0.18). Materials, which is forecast to post 37% year/year earnings growth in Q4, is turning in a similar performance while Health Care is providing some upside leadership after Express Scripts (ESRX 65.81 +0.98) launched a $24.8 bln tender offer for Caremark (CMX 56.39 -0.44). ..DJTA +1.4%.

1 hr 4 min ago
After a three-day break, last week's underlying positive tone is carrying over into this morning's open. Oil prices tacking a 1.8% decline (now near $52/bbl) onto last week's nearly 6% sell-off are providing a floor of support, as is Dow component General Electric (GE 38.10 +0.21) doing its part to keep the M&A theme going in 2007. GE is acquiring the aerospace unit of Smiths Group for $4.8 bln in cash.

However, since investors are still preoccupied with the pace of economic growth, especially with earnings season picking up in earnest this week, the NY Empire State manufacturing index falling to a 20-month low of 9.1 in January, from a downwardly revised reading of 22.2 in December, is minimizing early market gains.

[moroni]

15. Dendreon's PROVENGE Granted FDA Priority Review

SEATTLE, WA, January 16, 2007 – Dendreon Corporation (Nasdaq: DNDN) today announced that the U.S. Food and Drug Administration (FDA) has accepted for filing and has assigned priority review status to the Company's Biologics License Application (BLA) for PROVENGE® (sipuleucel-T), its investigational active cellular immunotherapy for the treatment of asymptomatic, metastatic, androgen-independent (also known as hormone refractory) prostate cancer.

Priority Review is granted to products that, if approved, would provide a significant improvement in the safety or effectiveness of the treatment, diagnosis or prevention of a serious or life-threatening disease. The goal for reviewing a product with Priority Review status is six months from the filing date. The Prescription Drug User Fee Act (PDUFA) date for completion of review by the FDA of the PROVENGE BLA is May 15, 2007.

http://investor.dendreon.com/ReleaseDetail.cfm?ReleaseID=225661


Thought I'd pass this along.

Blessings to all,
moroni

[Zenlitened]

16. Busy, busy days ahead... including Beige Book

Per Wall Street Journal.

Wednesday, January 17, 2007

7:45a.m. MBA Refinancing Index. Previous: +17.3%.
7:45a.m. ICSC Store Sales Index.For Jan 13. Previous: +0.7%.
8:30a.m. Dec Producer Price Index. Expected: +0.5%. Previous: +2.0%.
8:30a.m. Dec Producer Price Index, Ex-Food & Energy. Expected: +0.2%. Previous: +1.3%.
8:55a.m. Redbook Retail Sales Index. For Jan 12. Previous: +1.7%.
9:15a.m. Dec Industrial Production. Expected: +0.1%. Previous: +0.2%.
9:15a.m. Dec Capacity Utilization. Expected: 81.8%. Previous: Unch.
1:00p.m. Jan NAHB Housing Market Index. Previous: 32.
2:00p.m. Fed's Beige Book.

Thursday, January 18, 2007

8:30a.m. Initial Jobless Claims. Expected: +16K. Previous: -26K.
8:30a.m. Dec Consumer Price Index. Expected: +0.4%. Previous: Unch.
8:30a.m. Dec Consumer Price Index, Ex-Food & Energy. Expected: +0.2%. Previous: Unch.
8:30a.m. Dec Housing Starts. Expected: -0.5%. Previous: +6.7%.
10:00a.m. DJ-BTMU Business Barometer. Previous: -2.0%.
10:00a.m. Conference Board Consumer Confidence Index/ Previous: +0.1%.
12:00p.m. Jan Philadelphia Fed Business Index. Expected: 3.0. Previous: -2.3.

Where it's all going, I have no idea. I canceled a couple of limit orders today -- not because I'm worried about a collapse, but because my miserly orders had no chance of being filled with share prices climbing and climbing. :crazy:

I sat on the sidelines in November and December, telling myself there'd be at least a brief dip in January and I'd find my entry points for the couple of shares I'd like to add. But every day the numbers climb higher, the economic data is reported as strong (and taken at face value or, when necessary, rationalized away) and bearish analysts are on the verge of extinction.

So I'm fighting the lizard portion of my brain that says "don't miss out on the feeding frenzy!"... but wondering if the frenzy will ever end in a way that allows for real bargain-buying. There's so much money out there, and so many places to stash it.

Interesting article in the Boston Globe, noting the growth in International investing. Remember, not so very long ago, when investing overseas was considered high-risk? Now it's taken for granted as one more means of diversifying.

BOSTON CAPITAL: Movement abroad

By Steven Syre, Globe Columnist | January 16, 2007

The mutual fund business will remember 2006 as the year of the international investor.

Customers poured billions into mutual funds with international investing mandates. More than half of all customer cash aimed at long-term funds went into some kind of international or global category through the first 11 months of last year, according to Financial Research Corp. of Boston.

But international fund managers aren't alone investing more overseas. Funds labeled as diversified US stock funds are putting a significant amount of their cash into other markets. Better and deeper foreign stock markets are making it easier for all portfolio managers to pursue the fastest growth and best values worldwide.

(snip)

It's difficult to measure exactly how foreign stock investments affect the performance of any US stock fund. But it doesn't always help in the short run. (Emphasis mine. -- Z)

Danoff has almost certainly benefited from foreign investments over years, but Japanese stock holdings hurt his fund in 2006. Tillinghast clearly got a boost from foreign stocks when he outperformed 80 percent of competitors last year, despite holding as much as 12 percent of his money in cash at times.

(snip)

More:
http://www.boston.com/business/globe/articles/2007/01/16/movement_abroad/

Well, NOTHING helps me in the short run. My ability to time the market is utterly nonexistant. I just want to put some savings into a few tried-and-true investments for the long term. But I also find it hard to overcome the buyer's regret when I buy high only to see prices fall in a correction soon after -- even though I'm looking at a 10 to 15 year horizon. *sigh* I'd ike to be a Vulcan, but feel like a Ferengi at times like this! :D

[moroni]

19. International Funds/Stocks

My mutual/401K that is partially invested in the international markets did very well last month.
Last month's return for the international fund was 3.11%... for last year, the return was 26.32%.

moroni

[AnneD]

23. Never gamble....

what you can't afford to lose. At confusing times like these, I find it comforting to peel off a portion (that you would not mind too much if you lost) and invest. Have a good bowl of chicken noodle soup and relax. You'll get some benefit if the stocks rise and a lot of comfort from the soup. If the stocks and market tank, you'll pat yourself on the back for your wisdom. It's a win-win. Remember-cash is a good position at times and chicken noodle soup is always good in the winter.

[Zenlitened]

43. Good advice -- thanks!

:hi:

[AnneD]

20. They do scandal right....

Jail term sought for Hyundai chairman

SEOUL, South Korea — Prosecutors demanded a six-year prison term against Hyundai Motor Co. Chairman Chung Mong-koo for embezzlement and other charges Tuesday, adding to the woes of the largest South Korean automaker.

Chung, 68, has been on trial since June on charges of illegally raising a slush fund from affiliates from which authorities say he spent 69.3 billion won (US$74 million, euro57 million) for private and other purposes, including payments to lobbyists for government favors.

He has also been charged with inflicting financial damage on affiliates through questionable deals and arrangements that allegedly protected or boosted the financial interests of him and his son, Eui-sun, who heads Kia Motors Corp., the country's second-largest car maker. The younger Chung doesn't face trial.

<snip>


The trial has cast a cloud over the company, which also is suffering from a row with its militant labor union that intensified this week with new strikes.

Unionized workers laid down tools for a total of eight hours at three factories Monday in a dispute with management over the size of a bonus payment. Though workers will not strike Tuesday, they have scheduled a longer walkout Wednesday.

<snip>

http://www.chron.com/disp/story.mpl/ap/business/4473069.html

Gotta love the South Koreans. Their labour union are tough, their legislature rough and tumble, and their justice system egalitarian. A lot closer to democracy than we are now.

[Zenlitened]

21. Manufacturing activity slows in New York region

Manufacturing activity slows in New York region
Empire State index falls to lowest level since June '05

By Greg Robb, MarketWatch
Last Update: 10:36 AM ET Jan 16, 2007

WASHINGTON (MarketWatch) -- Manufacturing activity in the New York area fell sharply in January to its lowest level since June 2005, the New York Federal Reserve Bank said Tuesday.

The Empire State index fell to 9.1 in January from 22.2 in December. Read full survey.

The decline was worse than Wall Street expected. Economists were forecasting the index to slip to 20.0 from the initial reading of 23.1 in December. See Economic Calendar.

There were few silver linings in the details of the report, as all of the major sub-components also declined.

(snip)

Economists said the New York index had been relatively higher than other regional indexes in Chicago and Philadelphia, so it was too soon to worry about the factory sector.

"In short, a clear weakening, but it's far from clear that there is any predictive power here," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.

More:
http://www.marketwatch.com/news/story/empire-state-manufacturing-index-sharply/story.aspx?guid=%7BD3F6A745%2D4994%2D4551%2D9905%2DBD025F4718EA%7D

Ugh. "It's a huge drop, but everything's fine!" :crazy: :grr: Think I'll just "invest" in some lottery tickets.

[Zenlitened]

22. U.S. stocks lower as earnings optimism fade

U.S. stocks lower as earnings optimism fade

By Nick Godt, MarketWatch
Last Update: 11:07 AM ET Jan 16, 2007


NEW YORK (MarketWatch) -- U.S. stocks were lower in morning trade Tuesday, as investors cautiously digested a flurry of earnings, including in-line results from Wells Fargo & Co. and weak forecasts from Symantec Corp., while energy shares also weighed amid falling crude oil prices.

(snip)

"It's a waiting game right now in the market," said Stephen Sachs, head of trading at Rydex Investments. "This is a big week on both the economic front, with numbers on inflation and housing, and on the earnings front, starting with Intel after the close."

(snip)

Stock futures had turned weaker ahead of the open after news that manufacturing activity in the New York region was much weaker than expected in January, reviving concerns about economic growth.

But investors started the week full of optimism about the fourth-quarter earnings season, which kicked off last week with strong results from Alcoa Inc.

"We've seen a few early earnings reports supportive of higher prices, but this week will give investors a broader glimpse into the first quarter," said Marc Pado, market strategist at Cantor Fitzgerald.

More:
http://www.marketwatch.com/news/story/us-stocks-lower-earnings-optimism/story.aspx?guid=%7BABF77706%2DEA4E%2D4521%2DB12A%2D99382C612EF3%7D&dist=TNMostRead

[citizen snips]

24. GE Buys Aerospace Unit for $4.8 Billion

LONDON (AP) -- General Electric Co., the world's largest aircraft engine maker, agreed Monday to buy the aerospace business of Smiths Group PLC, Britain's third-largest aerospace company, for $4.8 billion in cash.

Smiths will return $2.1 billion to shareholders, the London-based company said in a statement. GE and Smiths also announced plans for a joint venture called Smiths GE Detection.

The market reacted enthusiastically, pushing Smiths shares up more than 15 percent to 1,135 pence ($22.24) on the London Stock Exchange. The company has been under shareholder pressure to break itself up, but has resisted.

Fairfield, Connecticut-based GE said the purchases would broaden its aerospace portfolio by adding Smiths' flight management systems, electrical power management, mechanical actuation systems and airborne platform computing systems.

more...
http://biz.yahoo.com/ap/070116/britain_smiths_ge.html?.v=2

[citizen snips]

25. Stocks Lower Ahead of Key Profit Reports

NEW YORK (AP) -- Wall Street backed away from record levels to trade nearly flat Tuesday after a plunge in crude prices weighed on oil companies and a handful of profit warnings eroded investors' confidence about earnings.

Investors sent the Dow Jones industrials to a new intraday high in the first hour of trading before it pulled back. The Nasdaq, which had been at a six-year peak, also retreated from those levels.

Behind the retreat was a drop in oil prices to a new 20-month low near $51 a barrel on a report that OPEC leader Saudi Arabia said there may be no need for further production cuts. The statement immediately punished shares of major oil and gasoline companies, and dragged major indexes lower.

Investors kept a wary eye on company announcements as earnings reporting season entered its first big week. The first wave of reports have already shown strength, with Wells Fargo & Co. and TD Ameritrade Holding Corp. posting robust results.

more...
http://biz.yahoo.com/ap/070116/wall_street.html?.v=27

[citizen snips]

26. YRC Worldwide Ready to Run, Analyst Says

NEW YORK (AP) -- A Wachovia Capital Markets analyst on Tuesday upgraded shares of YRC Worldwide Inc., citing a pair of recent operational realignments at the less-than-truckload carrier that could drive future profitability.

Justin Yagerman raised his rating to "Outperform" from "Market Perform," saying the carrier's decision Monday to fold management of its Yellow Transportation and Roadway Express divisions into one organization will better align the two groups while maintaining a sense of collaborative competition.

Called YRC National Transportation, the consolidated unit combines the carrier's two biggest subsidiaries but keeps the brands and networks separate within the less-then-truckload market.

Yagerman said he sees the decision as a prelude to additional consolidation of the company's less-than-truckload operations. Last week, YRC said it would consolidate its USF Bestway and USF Reddaway operations into one organization under USF Reddaway. USF Holland, meanwhile, will expand its service coverage.

more...
http://biz.yahoo.com/ap/070116/yrc_worldwide_analyst_note.html?.v=1

[citizen snips]

27. Sector Snap: Health Care Operators Rise

NEW YORK (AP) -- Shares of health care facility operators edged higher on Tuesday amid acquisitions in the sector and comments from an analyst, who said private equity interest is increasing.

Sunrise Senior Living Inc.'s stock surged on Tuesday, a day after Ventas Inc. offered to buy Sunrise Senior Living REIT's interest in 74 private pay assisted living communities in the U.S. and Canada for $1.8 billion, including debt.

Sunrise shares gained $2.10, or 6 percent, to $34.90 in afternoon trading on the New York Stock Exchange.

In other acquisition-related news, Genesis HealthCare Corp., which runs long-term care facilities, said it will go private in a joint venture formed by private equity firms Formation Capital LLC and JER Partners for $1.25 billion.

more...
http://biz.yahoo.com/ap/070116/health_care_operators_sector_snap.html?.v=1

[Bigmack]

28. Is the falling oil price...

designed (as much as the market can be controlled) by the Saudis and the US to hurt Iran and Venezuela?

[citizen snips]

29. Verizon to Sell New England Assets

NEW YORK (AP) -- Verizon Communications Inc. is selling its residential telephone business in three New England states for $2.72 billion, shedding more of what the company sees as non-core assets as it invests billions to upgrade its wired and wireless networks for next-generation services.

The operations in Maine, New Hampshire and Vermont, serving 1.5 million homes, will be acquired by FairPoint Communications Inc. of North Carolina, the companies announced Tuesday. FairPoint owns local phone networks in 31 mostly rural markets in 18 states, including the three where it is acquiring Verizon's business.

Hoping to head off worries among local officials that Verizon's planned exit might lead to deterioration in phone and Internet service, the companies emphasized there would be no layoffs and that FairPoint would invest heavily in the region to expand broadband availability to more homes.

Verizon had previously indicated it might sell or divest its northern New England business as part of a slimming-down exercise that has included the spinoff of its phone directory business and the sale of its Hawaiian operations to an affiliate of The Carlyle Group for $1.3 billion in cash.

more...
http://biz.yahoo.com/ap/070116/verizon_spinoff.html?.v=3

[citizen snips]

30. Globe Life Acquires Marketing Company

MCKINNEY, Texas (AP) -- Life and supplemental health insurer Torchmark Corp. said Tuesday a unit of its Globe Life And Accident Insurance Co. bought the assets of Direct Marketing Advertising Distributors Inc. for $47 million.

For more than a decade, Hicksville, N.Y.-based Direct Marketing has provided advertising and targeted marketing for Globe's direct response insurance business distributed through mailed coupon packets and publication inserts.

Globe was Direct Marketing's only insurance client at the time of the deal, Torchmark said.

Torchmark shares fell 49 cents to $64.31 in afternoon trading on the New York Stock Exchange.

more...
http://biz.yahoo.com/ap/070116/torchmark_direct_marketing.html?.v=1

[citizen snips]

31. Cargill Profits Rise 34 Percent

WAYZATA, Minn. (AP) -- Agribusiness giant Cargill said earnings rose 34 percent to $662 million in its fiscal second quarter on strong results from selling and shipping commodities and in its financial trading unit.

Cargill said it earned $1.16 billion for the six months ended Nov. 30, up 16 percent from $999 million a year ago. Cargill is privately held and releases limited financial results, and it did not release a revenue figure on Tuesday. The company said the profits were its strongest operating results ever.

"Similar to the first quarter, we experienced fast-changing markets in the second period, brought about by the interest in biofuels, investor flows into commodity futures and other markets offering diversification, and expansionary economies in many parts of the world," said Chairman and Chief Executive Warren Staley.

Cargill said the quarterly profit increase was driven by origination and processing, which handles buying and shipping commodities such as corn, wheat, and soy beans, and by its risk management and financial arm, which makes investments in commodity prices and other financial markets. It said both units "increased results significantly" from the same period last year.

more...
http://biz.yahoo.com/ap/070116/earns_cargill.html?.v=2

[citizen snips]

32. Linear Shares Down 3Q Outlook Prediction

NEW YORK (AP) -- Shares of semiconductor maker Linear Technology Corp. dropped Tuesday on analysts' expectations of a decline in earnings next quarter.

Milpitas, Calif.-based Linear is scheduled to announce its second-quarter 2007 results Wednesday. Goldman Sachs analyst James Covello said trends in communications and handsets would hurt the company. Together, those two areas account for about 65 percent of the company's sales.

Covello also predicted the company will have more channel inventory than its competitors. He kept his price target for the company at $39 per share.

Jeffries & Co. analyst John Lau said he expects Linear's earnings will drop 5 to 7 percent, in keeping with its second-quarter guidance, due to increased competition. He kept his price target at $33 per share.

more...
http://biz.yahoo.com/ap/070116/linear_technology_mover.html?.v=1

[citizen snips]

33. Interest Rates Rise in Treasury Auction

WASHINGTON (AP) -- Interest rates on short-term Treasury bills rose in Tuesday's auction with three-month bills climbing to the highest level since October.

The Treasury Department auctioned $17 billion in three-month bills at a discount rate of 4.975 percent, up from 4.940 percent last week. Another $14 billion in six-month bills was auctioned at a discount rate of 4.950 percent, up from 4.920 percent last week.

The three-month rate was the highest since three-month bills averaged 4.990 percent on Oct. 23. The six-month rate was the highest since 4.955 percent on Nov. 13.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,874.24 while a six-month bill sold for $9,749.75.

more...
http://biz.yahoo.com/ap/070116/treasury_bills.html?.v=3

[citizen snips]

34. Corn Up, Soybeans Decline

CHICAGO (AP) -- Grain and soybean futures ended mostly lower Tuesday on the Chicago Board of Trade.

Wheat for March delivery fell 15 1/2 cents to $4.64 a bushel; March corn rose 6 1/2 cents to $4.03 a bushel; March oats fell 3 1/4 cents to $2.69 a bushel; March soybeans fell 8 cents to $7.08 1/2 a bushel.

Beef futures finished mixed while pork advanced on the Chicago Mercantile Exchange.

February live cattle rose .47 cent to 92.27 cents a pound; March feeder cattle fell .38 cent to 92.57 cents a pound; February lean hogs rose .25 cent to 60.62 cents a pound; February pork bellies rose .83 cent to 91.70 cents a pound.

http://biz.yahoo.com/ap/070116/board_of_trade.html?.v=3

[citizen snips]

35. TD Ameritrade 1Q Profit Up 69 Percent

OMAHA, Neb. (AP) -- TD Ameritrade Holding Corp. reported on Tuesday that its fiscal first-quarter earnings surged 69 percent, aided by rising money market account fees and interest revenue gained since the online brokerage's latest major acquisition.\

Ameritrade's shares gained 85 cents, or 4.9 percent, to $18.20 in afternoon trading on the Nasdaq Stock Market, where they have traded in a 52-week range of $13.30 to $26.37.

Ameritrade reported quarterly earnings of $145.6 million, or 24 cents per share, in the three months ended Dec. 31, up from $86 million, or 21 cents per share in the year ago period. Per-share results are based on 603 million average shares outstanding, up sharply from 406.6 million a year ago.

Excluding items, the company earned $173 million, or 28 cents per share, in the latest quarter.

more...
http://biz.yahoo.com/ap/070116/earns_td_ameritrade.html?.v=14

[citizen snips]

36. Vertex Shares Rise on Analyst Report

NEW YORK (AP) -- Shares of Vertex Pharmaceuticals Inc. moved higher Tuesday after Susquehanna Financial Group upgraded the company's stock, citing positive results in the latest study on VX-950 for hepatitis C.

The stock traded as high as $38.95 on the Nasdaq, at one point marking a 3 percent gain from the previous closing price of $37.80. Shares -- which have traded between $29 and $45.38 over the last 52 weeks -- settled back down by late afternoon, and were recently up 48 cents at $38.28.

Susquehanna analyst Jason Kolbert upgraded the stock to "Neutral" from "Negative" citing greater confidence in VX-950's development and eventual position in the market. In December, the company said a midstage study of the drug showed it was effective compared with placebo, but 9 percent of the patients dropped out because of side effects, including rashes. The study results are not complete and full results are expected sometime this year.

"From our recent discussions with key opinion leaders and feedback from patients, we now have greater confidence that the side-effects seen (in the study) are manageable," he wrote in a note to investors.

more...
http://biz.yahoo.com/ap/070116/vertex_mover.html?.v=1

[citizen snips]

37. Dow Hits Third Consecutive Record Close

NEW YORK (AP) -- Wall Street finished an erratic session mixed Tuesday with the Dow Jones industrials reaching a third straight record close despite concerns about corporate profits and the impact of falling oil prices.

The market wavered in and out of positive territory for much of the day, before the Dow had a late-session advance.

Investors struggled to digest a drop in oil prices, which fell to a 19-month low near $51 a barrel on a report that OPEC leader Saudi Arabia said there may be no need for further production cuts. The statement immediately punished shares of major oil and gasoline companies.

Investors kept a wary eye on corporate announcements as earnings reporting season entered its first big week. The first wave of reports have already shown strength, with Wells Fargo & Co. and TD Ameritrade Holding Corp. posting robust results.

more...
http://biz.yahoo.com/ap/070116/wall_street.html?.v=33

[citizen snips]

38. Intel Q4 Profit Plunges 39 Percent

SAN JOSE, Calif. (AP) -- Intel Corp.'s fourth-quarter profit plunged 39 percent as the world's largest chip maker endured a painful price war with much-smaller rival Advanced Micro Devices Inc. and continued to pay for a massive restructuring.

Still, Intel said Tuesday it sold record numbers of microprocessors and flash memory chips and the company managed to beat analysts' tepid expectations.

Intel said net income for the period ended Dec. 30 was $1.5 billion, or 26 cents per share, versus $2.45 billion, or 40 cents per share, in the same period a year ago.

Revenue for the quarter was $9.7 billion, down 5 percent from $10.2 billion a year ago.

more...
http://biz.yahoo.com/ap/070116/earns_intel.html?.v=6

[citizen snips]

39. Nasdaq 100 Leaders & Laggards: MICC,SYMC

NEW YORK (AP) -- A profit warning made shares of software maker Symantec Corp. the biggest decliner in the Nasdaq 100 Tuesday.

The index lost 5.04, to close at 2497.78.

Symantec lowered its third-quarter 2007 guidance as a result of weaker-than-expected performance and higher operating costs. The stock plunged $2.69, or 13.1 percent, to close at $17.79.

Research in Motion Ltd. shares dipped after retailers reduced the price for the BlackBerry Pearl handset. The stock dropped $5.21, or 3.9 percent, to $127.71.

more...
http://biz.yahoo.com/ap/070116/leaders_nasdaq.html?.v=1

[citizen snips]

40. S&P Leaders & Laggards: RX,CBG,SYMC

NEW YORK (AP) -- Shares of IMS Health Inc. surged ahead Tuesday to become the S&P 500's top gainer.

The index added 1.17 to end at 1,431.90.

IMS shares rose $1.37, or 5.2 percent, to finish at $27.72 on the New York Stock Exchange.

CB Richard Ellis Group Inc. hit a new 52-week high of $36.25 Tuesday, finishing up $1.75, or 5.1 percent, at $35.91 on the NYSE.

A report from a Goldman Sachs analyst sent Monsanto Co. to a new 52-week high of $54.77. The stock closed at $53.68, up $2.53, or 5 percent, also on the Big Board.

On the downside, Symantec Corp. lowered its third-quarter 2007 guidance as a result of weaker-than-expected performance and higher operating costs. The stock plunged $2.69, or 13.1 percent, to close at $17.79 on the Nasdaq.

more...
http://biz.yahoo.com/ap/070116/s_p_leaders.html?.v=1

[ozymandius]

41. for numbers and blather fans - the finale

Dow 12,582.59 Up 26.51 (0.21%)
Nasdaq 2,497.78 Down 5.04 (0.20%)
S&P 500 1,431.90 Up 1.17 (0.08%)
10-Yr Bond 4.751% Down 0.02
NYSE Volume 2,599,548,000
Nasdaq Volume 2,244,540,000

4:20 pm : Even after a long holiday weekend, stocks looked a bit tired Tuesday as the absence of leadership rom the Energy sector amid another sell-off in oil, valuation concerns in tech, and weak economic data minimized blue-chip gains and snapped a three-day winning streak on the Nasdaq.

Stalling follow-through buying interest on the Nasdaq were concerns that the recent rally in tech may not live up to the earnings expectations that have been priced into the sector over the last few months. Exacerbating such concerns was a profit warning from Symantec (SYMC 17.79 -2.69), which tumbled 13% in response to its downwardly revised full-year outlook.

After hitting a multi-year high last week, Cisco Systems (CSCO 28.04 -0.88) plunged 3% after it was downgraded on valuation concerns. Analyst downgrades on KLA-Tencor (KLAC 50.54 -1.63) and Novellus Systems (NVLS 32.20 -0.55) also prompted consolidation in this year's best performing sector.

Not surprisingly, oil prices were a focal point again. Crude for February delivery plunged 3.4% to 19-month lows ($51.21/bbl) after Saudi Arabia's oil minister surprisingly denounced the need for an emergency OPEC meeting and further production cuts. However, while a nearly 6% decline in the front-month crude contract last week was clearly a reason behind the positive tone that contributed to an average gain of 1.9% for the major indices, today's sell-off removing notable leadership from Energy was more of a concern.

The Energy sector had been expected to grow earnings a solid 16% this quarter (Q107), following an anticipated 3% decline in Q4 profits; but that was before the continued downturn in crude now leaves the commodity down 16% already this year.

Since oil makes up as much as 60% of the costs for many chemical companies, DuPont (DD 50.51 +0.78) paced the way (+1.6%) among the 18 Dow components trading higher and helped the Dow inch to another new record close.

Another beneficiary of oil's continued slide was Transports. Airlines, for which oil constitutes roughly 30% of total costs, got an added boost from an analyst upgrade on Southwest Airlines (LUV 16.56 +0.34). FedEx (FDX 111.58 +2.72), which was also upgraded, provided additional support for an Industrials sector that was also dealing with a weaker than expected read on manufacturing conditions.

Before the bell, the January NY Empire Index fell to a 20-month low of 9.1 in January and December's figure was revised lower. Albeit not the most influential of regional surveys, it was today's only scheduled economic release and offered investors one of the first perspectives on economic strength in the New Year. BTK +0.2% DJ30 +26.51 DJTA +2.1% DJUA +0.2% DOT -0.7% NASDAQ -5.04 NQ100 -0.1% R2K -0.4% SOX -1.3% SP400 -0.2% SP500 +1.17 XOI -1.5% NASDAQ Dec/Adv/Vol 1654/1406/2.13 bln NYSE Dec/Adv/Vol 1724/1575/1.39 bln