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Daily Forex Outlook - Market Plunges, Dollar Soars

Thu, 29 Oct 2009 13:25:27 GMT

U.S. Dollar Trading (USD) was second only to the Yen as markets around the world were deep in the red and risk aversion came back into play. September Durable Goods Orders 1.0% vs. -2.6% previously.[More...]

USD Continues To Gain On Return To Risk Aversion

Wed, 28 Oct 2009 13:09:58 GMT

The USD continued to advance Tuesday against major currencies as a measure of U.S. consumer confidence registered an unexpected decline for October. Gold futures extended losses from the previous session as the USD rose. December Gold fell $7.40, to settle at $1,035.40 an ounce on the Comex division of the New York Mercantile Exchange and is currently trading around $1041.[More...]

Maybe Economic Theory Is Wrong

Mon, 12 Oct 2009 13:55:18 GMT

I've been meaning to go back and revisit this piece about one of my favorite subjects over the years - owners' equivalent rent - but have so far failed to do so. This first appeared here on September 04, 2008, just over a year ago.[More...]

US Week Ahead: A Hectic Week On Data & Earnings

Sat, 11 Jul 2009 17:40:00 GMT

Despite a rather hectic week of economic releases; earnings news will likely steal the show this week. Big names on the earnings calendar this week include Goldman Sachs, JPMorgan, Bank of America, Citigroup, GE, Intel, Google, IBM, and Johnson & Johnson. However, a recent mixture of good and bad economic news, including decreasing consumer sentiment, rising unemployment, and dreadful retail sales have raised concerns over the potential for a prolonged recession. Therefore, it’s important we pay close attention to Tuesday’s retail sales and PPI data, Wednesday’s CPI and industrial production data, and finally Thursday’s jobless claims number, all of which have the potential to move the market in one direction or another. [More...]

Earnings Preview For June 15 - 19 - Earnings Preview

Fri, 12 Jun 2009 20:08:21 GMT

We will see initial second-quarter numbers with Adobe Systems (ADBE), Best Buy (BBY), Carnival (CCL), FedEx (FDX) and J.M. Smucker (SJM) reporting this week. Notably missing from the group are the investment bankers, the surviving members of which have changed to traditional calendar quarters. Though there are five S&P 500[More...]

Market Briefing For Monday

Mon, 20 Apr 2009 17:36:47 GMT

From the March 6th intra-day lows, the S&P 500 has rebounded 28%. The reasons for the advance are obvious, and Wall Street is continuing to reprice assets. By this I mean, during the March lows, assets (stocks) were being priced for a economic depression. The current market rally is beginning repricing assets (stocks) for an economic recession. Clearly, markets never move in a straight line. Short term technical indicators are overbought and a normal correction or pause to refresh should be expected. As the markets begin to reach extremes during a recessionary climate (early summer), traders will take the opportunity to take profits. Common sense dictates that the economic recovery will not be quick, and in the quarters ahead, lowered earnings comparisons should not be that tough to beat. This morning, Bank of America reported earnings that tripled most analysts expectations. The stock sold off however after the company set aside $6.4 billion in reserves to cover[More...]

Weekly Review - The Return Of Fundamentals?

Mon, 20 Apr 2009 05:06:00 GMT

The first week of earnings season didn't spook the market too badly and major averages managed modest gains. This makes it six straight weeks without a loss. We survived reports from Goldman Sachs, JP Morgan Chase, GE, Citigroup, Intel and Google. If you dig into the numbers of each of these bellwethers there were certainly a few questionable items; nevertheless, the fact that they were all "less bad" than expected gave investors the go ahead to push this rally for another week. Economic reports had little effect this week. CPI and PPI came in below expectations and some bloggers resumed discussion of deflation. The markets, however, shrugged off the news. The worst report was from the housing market where starts dropped to a 510,000 annual rate, well below the expected 540,000 and a clear signal that the real estate market has not yet turned the corner. As usual, I want to present our usual two charts to demonstrate the state of the overall[More...]

Outlook For Inflation/Deflation

Wed, 15 Apr 2009 15:40:00 GMT

In the short term, the deflation bugs are out, especially with the recent release of consumer CPI numbers of various vintages.[More...]

The Week Ahead - Apr 12 2009 12:52PM

Sun, 12 Apr 2009 16:46:45 GMT

Here's a preview of the week ahead for investors from Reuters: NEW YORK (Reuters) – If Wells Fargo's (WFC.N) strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results. The earnings season starts in earnest, with banks Goldman Sachs (GS.N), JPMorgan (JPM.N) and Citigroup (C.N) set to report their latest scorecards. Both JPMorgan and Citigroup are Dow components. General Electric (GE.N), another Dow component, will report earnings on Friday. GE, whose businesses range from broadcasting to making jet engines, is closely watched because its results and outlook may shed light on the broader economy's health. Hopes that the economic slump may be abating and some stability may be returning in the banking sector have helped underpin a month-long recovery in stocks from[More...]

Is It May Yet?

Fri, 03 Apr 2009 12:18:09 GMT

Well, the latest edition of policy "shock and awe" was released yesterday, with FASB adjusting the mark to market rules and the G20 promising a Dr. Evil-esque "one triiilllliiioonnnn dollars!" for the world economy. Markets were so excited that they barely noticed the disappointment from the ECB.Well, that's not entirely true. The euro rallied sharply against the dollar (because in a 16 vol currency pair, an extra 25 bps makes the carry sooooooo much more attractive), and the front end of Europe got butchered. While euribor fell quite a bit, the real carnage was in Schatz. Macro Man stands by the view that German two year bonds are a much more attractive proposition than short-term lending; sadly, the market doesn't agree with him. Perhaps he can employ new FASB guidelines, as his model suggests that Schatz yields should be 1% rather than 1.5%?[More...]

Investment Industry Regulatory Organization of Canada - Trading Halt - CPI Plastics Group - CPI

Thu, 08 Jan 2009 13:17:00 GMT

VANCOUVER, Jan. 8 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC): Issuer Name: CPI Plastics Group[More...]

CPI Plastics Group Limited

Thu, 08 Jan 2009 00:03:00 GMT

MISSISSAUGA, ON, Jan. 7 /CNW/ - CPI Plastics Group Limited announced today that it has been unable to withstand the ravages of the current economic crisis and has been unable to gain the support of its secured lender to restructure CPI's financial affairs. After the close of markets today, the lender demanded immediate repayment of all of CPI's credit facilities and notified CPI that the lender intends to enforce its security over all of CPI's assets if repayment cannot be made. CPI understands that the lender will move immediately for the court appointment of an interim receiver over all of CPI's assets. CPI does not intend to object to the appointment.[More...]

CPI Plastics Group Ltd. announces results for the third quarter of 2008

Mon, 08 Dec 2008 20:56:00 GMT

MISSISSAUGA, ON, Dec. 8 /CNW/ - CPI Plastics Group Ltd., ("CPI" or "The Company") announced today its financial results for the three and nine months ended September 30, 2008. A summary of those results is as follow:[More...]

CPI Plastics Group Limited is granted filing extension by OSC

Mon, 01 Dec 2008 20:34:00 GMT

MISSISSAUGA, ON, Dec. 1 /CNW/ - CPI Plastics Group Limited ("CPI") announced today that the Ontario Securities Commission has granted a compliance extension to the Corporation for the third quarter and it now has until December 8, 2008 to file its financial statements and MD& A. The Corporation intends to complete its filing on or before that date.[More...]

Capital Properties, Inc. Announces Results of Special Shareholders Meeting and Voluntary Delisting from AMEX

Fri, 21 Nov 2008 20:18:00 GMT

Capital Properties, Inc. announced today that its shareholders approved an amendment to the Company's Articles of Incorporation, authorizing the Board of Directors to implement, at its discretion, a seventy-five to one reverse stock split of the Company's common stock and a cash payment per share for resulting fractional shares equal to $25.00. The Company announced that shareholders also approved a proposal to amend and restate the Company's Articles of Incorporation to create a new class of common stock to be designated Class B Common Stock, to increase the number of authorized shares of Class A Common Stock from 6,000,000 to 10,000,000 and provide for certain transfer and ownership restrictions on the Company's stock.[More...]

Schedule "A" - CPI Plastics Group Limited announces covenant violations and delay of filing of its third quarter financial statements and MD&A

Wed, 19 Nov 2008 18:34:00 GMT

MISSISSAUGA, ON, Nov. 19 /CNW/ - CPI Plastics Group Limited ("CPI") announced today that it was not in compliance with the financial covenants governing its lending agreements as at September 30, 2008. As previously announced, the Company has formed a special committee of the Board of Directors and commenced a financial restructuring initiative, under which the Company is in discussion with its lenders with a view to restructuring its debt and correspondingly amend covenants.[More...]

CPI Plastics Group Limited financial restructuring

Mon, 10 Nov 2008 22:18:00 GMT

MISSISSAUGA, ON, Nov. 10 /CNW/ - Peter F. Clark, Chief Executive Officer of CPI Plastics Group Limited ("CPI") announced today that the Corporation was commencing a financial restructuring initiative and in that regard, a special committee of the Board of Directors has been formed to assure that all of the Corporation's stakeholders including shareholders, suppliers, customers and lenders are properly represented. Mr. Clark, the Corporation's controlling shareholder, stated: "I fully support the creation of the said committee in order to ensure that the financing process was completely open and transparent to all concerned."[More...]

TSX Delisting Review - CPI Plastics Group Limited (CPI) - Nov 6 2008 12:19PM

Thu, 06 Nov 2008 15:55:00 GMT

TORONTO, Nov. 6 /CNW/ - DELISTING REVIEW - CPI Plastics Group Limited (the "Company") - Further to TSX Bulletin No. 2008-1221 dated October 30, 2008, the common shares of the Company (Symbol: CPI) will be delisted at the close of market on November 7, 2008 for failure to meet the continued listing requirements of TSX. It is understood that the common shares of the Company will commence trading on TSX Venture Exchange at the market open on November 10, 2008.[More...]

Capital Properties, Inc. Announces Third Quarter 2008 Results

Tue, 04 Nov 2008 17:44:00 GMT

Today, Capital Properties, Inc. reported net income of $478,000 and $1,343,000 for the three and nine months ended September 30, 2008, resulting in a basic income per common share of $.14 and $.41, respectively. For the three and nine months ended September 30, 2007, the Company had reported net income of $333,000 and $1,202,000, respectively, which resulted in a basic income per common share of $.10 and $.36, respectively.[More...]