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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...]

CE Franklin Ltd. Announces 2009 Third Quarter Results

Tue, 27 Oct 2009 22:49:00 GMT

(millions of Cdn.$ except Three Months Ended Nine Months Ended
The integration of the oilfield supply competitor acquired June 1, 2009 is complete and the Company will continue to focus on its key strategic initiatives," said Michael West, President and Chief Executive Officer.
Net income for the third quarter of 2009 was $0.2 million, down from $5.7 million in the third quarter of 2008.

[More...]

Ivanhoe Energy Canada Appoints Calgary Petroleum Executive David Dyck As President and CEO

Wed, 21 Oct 2009 19:49:00 GMT

Mr. Dyck to head development of Ivanhoe Energy's Canadian operations,
CALGARY, Oct. 21 /CNW/ - Robert Friedland, Executive Co- Chairman, President and CEO of Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN), today announced the appointment of North American petroleum industry executive David Dyck as President and CEO of Ivanhoe Energy Canada Inc., Ivanhoe Energy's subsidiary for operations in Canada.
Mr. Dyck, who has taken up duties in the Calgary headquarters of Ivanhoe Energy Canada, will head the company's team that is developing the Tamarack heavy-oil project in Alberta's Athabasca oil sands, including the application of Ivanhoe's proprietary Heavy-to- Light (HTL) heavy-oil upgrading technology.

[More...]

CE Franklin Ltd. Announces 2009 Second Quarter Results

Thu, 23 Jul 2009 20:55:00 GMT

(millions of Cdn.$ except Three Months Ended Six Months Ended
"CE Franklin delivered solid results in the second quarter, significantly outperforming market activity.
The integration of an oilfield supply competitor acquired June 1, 2009 is proceeding well and will strengthen the Company's competitive position and profitability going forward," said Michael West, President and Chief Executive Officer.

[More...]

CE Franklin Ltd. Switches to the NASDAQ Stock Market

Thu, 02 Apr 2009 22:00:00 GMT

CALGARY, April 2 /CNW/ - CE Franklin Ltd. (TSX.CFT, NYSE Alternext US: CFK) announced today that its board of directors has approved management's decision to switch the listing of its common stock from the NYSE Alternext US stock exchange ("Alternext") to the NASDAQ Stock Market LLC ("NASDAQ").
The company's shares will commence trading on the NASDAQ Global Market on Tuesday, April 14, 2009 under its current symbol, "CFK".
"This decision was reached after careful consideration of capital market alternatives and analysis of the electronic market model, which provides added visibility to our investors," said Michael West, President and Chief Executive Officer of CE Franklin Ltd. "We believe that NASDAQ's electronic multiple market maker structure will provide our company with enhanced exposure and liquidity, while at the same time providing investors with the best prices, the fastest execution, and the lowest cost per trade.

[More...]

NASDAQ OMX Announces Second Quarter 2009 New Listings Statistics

Thu, 16 Jul 2009 17:03:00 GMT

The NASDAQ OMX Group, Inc. today announced that The NASDAQ Stock Market ) captured a total of 18 new listings, highlighted by the initial public offerings of Chinese game developer Changyou.com , online reservation management provider OpenTable and Medidata Solutions , a provider of hosted clinical data solutions.[More...]

CE Franklin Ltd. - Conference call announcement

Thu, 02 Jul 2009 21:00:00 GMT

SECOND QUARTER 2009 RESULTS AND DISCUSSION Friday, July 24, 2009 11:00 a.m., Eastern Time[More...]

CE Franklin Ltd. Acquires Western Canadian Oil Field Equipment Distributor

Mon, 01 Jun 2009 12:49:00 GMT

CALGARY, June 1 /PRNewswire-FirstCall/ - CE FRANKLIN LTD. announced today that it has acquired a Western Canadian oil field equipment distributor . The transaction will be financed from existing bank credit facilities.[More...]

CE Franklin Ltd. to Present at NYSSA 12th Annual Energy Equipment and Services Conference

Thu, 14 May 2009 14:03:00 GMT

CE FRANKLIN LTD. (TSX: CFT, NASDAQ: CFK) today announced that Michael West, President and Chief Executive Officer, will be presenting at the NYSSA 12th Annual Energy Equipment and Services Conference in New York, NY on Tuesday, May 19, 2009 at 11:00 a.m. (EDT). Investors may access a web cast of this presentation on the CE Franklin Ltd. website; www.cefranklin.com.[More...]

CE Franklin Ltd. Announces 2009 First Quarter Results

Tue, 28 Apr 2009 17:50:00 GMT

"Our diversification strategies continue to progress, offsetting the decline in activity levels that has affected our core oilfield supply business," said Michael West, President and CEO.
Net income for the first quarter of 2009 was $6.0 million, down $0.3 million from the first quarter of 2008.
The weighted average number of shares outstanding during the first quarter decreased by 0.3 million shares (2%) from the prior year period principally due to shares purchased for cancellation pursuant to the Company's Normal Course Issuer Bid.

[More...]

CE Franklin Ltd. - First Quarter 2009 Results Webcast and Conference Call - April 29, 2009

Wed, 22 Apr 2009 09:55:00 GMT

TORONTO, April 22 /CNW/ - Notification of First Quarter 2009 Results Webcast and Conference Call event: CE Franklin Ltd. (AMEX: CFK) (TSX: CFT.)[More...]