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The Deep, Inner Meaning Of Bank of America's (BAC) TARP Repayment

Fri, 04 Dec 2009 14:19:07 GMT

As expected, Bank of America (BAC) will repurchase its $45 billion TARP preferreds, funded in part by an additional $18.8 billion in "common stock equivalents", $4.0 billion in asset sales, and $1.7 billion in restricted stock issued to employees in lieu of cash bonuses.[More...]

Forget Yesterday, It's All About Jobs

Fri, 04 Dec 2009 13:21:30 GMT

Good morning. Stocks tanked in the last half-hour on Thursday and while the major news outlets attributed the decline to either profit taking or some trepidation in front of this morning's big Jobs report, we'd like to offer a little more substantial reason for the 85 point dive on an otherwise subdued day of trading.[More...]

Fed Balance Sheet Declines By $15 Billion After Improbable Reduction In MBS, Excess Reserves, Monetary Base Hit Record

Fri, 04 Dec 2009 04:14:41 GMT

The Federal Reserve's balance sheet declined by $15 billion to $2,183 billion from the prior week, after the Fed presumably offloaded $2.7 billion in MBS: this is the first time since QE started that MBS holdings have declined. If anyone can tell us just who the idiots are who bought MBS from the Fed (and at what price), and who the even greater idiots are who are supposed to believe this, please send us an email.[More...]

China Will Continue To Drive The Global Economic Recovery In 2010

Thu, 03 Dec 2009 14:38:07 GMT

China isn’t just leading the global economic recovery – it’s lapping the field.[More...]

Interesting Stat: How Much Private Sector GDP Is From Construction And Real Estate?

Thu, 03 Dec 2009 13:15:56 GMT

Back in June, we discussed commercial real estate at length following attendance at a large real estate conference in NYC. Our tone was cautious and one question we wondered about was the percentage of GDP that real estate represents. We actually came across the answer back in August and meant to share then, but didn't get to it. Since the question/topic remains highly relevant to considering the potential negative economic drag from depressed real estate activity, we're sharing now -- the following table is from an 8/28/09 NYTs article, "Construction That Fueled Growth in the Sun Belt Slows":[More...]

Credit Market Overview: Dec 3, 2009

Thu, 03 Dec 2009 12:59:02 GMT

The credit crunch crisis of confidence which we appear to be crawling out of even though the debt and equity markets catapulted themselves higher earlier this year could be similarly argued to be a crisis that started in the credit markets which crunched confidence around the world as it could a collapse in confidence in the value of the securities investors held which corrupted the credit markets causing them to cease funding.[More...]

Grab Some Northern Exposure With EWC

Wed, 02 Dec 2009 21:39:42 GMT

Emerging markets are captivating investors again, but tidy profits aren’t always far away. Placing your bets on well-established global markets can also prove rewarding. That's why we're looking at Canada.[More...]

Unemployment Struggling To Turn A Corner As Job Losses Mount In November

Wed, 02 Dec 2009 21:20:20 GMT

U.S. job losses in the private sector slowed in November but still exceeded economists’ projections, a report by payroll-processing firm Automatic Data Processing (Nasdaq: ADP) indicated yesterday (Wednesday).[More...]

Why Barrick Closed Their Gold Hedge

Wed, 02 Dec 2009 19:15:14 GMT

It sure looks like gold is going to close above $1,200 an ounce today in New York. And large open market purchases from central banks in China, India and Russia are only helping the price surge more. (Just one year ago, some of these same central banks were actually selling gold in an attempt to fill an annual 10,000-ton supply gap.)[More...]

How To Profit From The 'Next' Dubai

Wed, 02 Dec 2009 13:51:42 GMT

The Dubai World default is a matter of only $60 billion – mere peanuts when compared to other elements of the global financial crisis. It’s thus of concern only to those silly enough to invest in real estate there (and the European banks foolish enough to finance it.) For the rest of us, it is a useful reminder that sudden collapses don’t really come out of nowhere – they can be foreseen, and smart investors can plan for them.[More...]

Earnings roundup: Tween Brands, Perfect World

Mon, 16 Nov 2009 21:47:00 GMT

Among the earnings stories for Monday, Nov. 16, from AP Financial News:
NEW ALBANY, Ohio (AP) - Kids clothing retailer Tween Brands Inc. said that higher sales and lower costs helped it climb to a third-quarter profit from a year-ago loss which included hefty restructuring expenses.
BEIJING (AP) - Online games maker Perfect World Co. said its profit rose 45 percent in the third quarter on higher sales of expansion packs for existing games.

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Cellcom Israel Announces Second Quarter 2009 Results and Strengthens Its Position As the Market Leader

Mon, 17 Aug 2009 05:45:00 GMT

NETANYA, Israel, August 17 /PRNewswire-FirstCall/ --
Cellcom Israel Ltd. ("Cellcom Israel", the "Company"), announced today its financial results for the second quarter of 2009.
Revenues for the second quarter 2009 totaled NIS 1,608 million ($410 million); EBITDA for the second quarter 2009 totaled NIS 637 million ($163 million), or 39.6% of revenues; and net income for the second quarter 2009 reached NIS 277 million ($71 million).

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Cellcom Israel Schedules Second Quarter 2009 Results Release for August 17, 2009

Wed, 05 Aug 2009 05:26:00 GMT

Cellcom Israel Ltd. , announced today that it will be releasing its financial results for the second quarter ended June 30, 2009, on Monday, August 17, 2009.[More...]

Cellcom Israel Ltd. Announces Annual General Meeting of Shareholders

Tue, 21 Jul 2009 05:31:00 GMT

Cellcom Israel Ltd. announced today that the 2009 Annual General Meeting of Shareholders of Cellcom Israel Ltd. will be held on September 2, 2009, at 4:00 p.m., , at the offices of the Company, 10 Hagavish Street, Netanya, Israel. The record date for the Meeting is August 3, 2009.[More...]

Cellcom Israel Ltd. Announces Change of Chief Financial Officer

Mon, 20 Jul 2009 03:48:00 GMT

Cellcom Israel Ltd. announced today that Mr. Tal Raz notified the Company of his resignation from office as the Company's CFO, effective September 20, 2009, following his nomination as CEO of Clal Finance, an IDB group affiliate of the Company. The Company's board of directors has nominated Mr. Yaacov Heen as the Company's CFO, effective September 21, 2009, and resolved to recommend to the General Meeting of Shareholders to nominate Tal Raz as a director of the Company.[More...]

Cellcom Israel Announces First Quarter 2009 Results

Tue, 26 May 2009 05:46:00 GMT

NETANYA, Israel, May 26 /PRNewswire-FirstCall/ --
Cellcom Israel Ltd. ("Cellcom Israel", the "Company"), announced today its financial results for the first quarter of 2009.
Revenues for the first quarter 2009 totaled NIS 1,561 million ($373 million); EBITDA for the first quarter 2009 totaled NIS 611 million ($146 million), or 39.1% of revenues; and net income for the first quarter 2009 reached NIS 348 million ($83 million).

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Cellcom Israel Schedules First Quarter 2009 Results Release for May 26, 2009

Wed, 13 May 2009 05:33:00 GMT

Cellcom Israel Ltd. , announced today that it will be releasing its financial results for the first quarter ended March 31, 2009 on Tuesday, May 26, 2009.[More...]