Friday, January 25, 2013
High Volume High 1/24/13 Edition
Quite a few new high volume highs. There is ATW which caught an overweight rating at Barclays. In addition, BGG and AME reported better than expected results. The same can be said for BPOP, the Puerto Rico banking concerning. Then there is JBHT, the trucking company. There were actually a few transportation firms on my screens and a few that hit the list. JBHT benefited from strong quarterly results and positive analysts comments. The same is true fro SWFT. The industry's stocks probably has caught a bid from a better tonnage index in the latest reported month. DLX's shares were up on better-than-expected top and bottom line results. While the former high-flier that fell from grace NFLX is again attracting investor interest after reporting results. In a fairly rare event, STWD's shares were up after announcing a buyout of another firm. Rounding things out, there were RJF and RYN, both up after reporting quarterly earnings.
Volume Off High 1/24/13 Edition
Jumping in here, PHH, the BPM for mortgage servicing, fell over 6% on no news. Maybe somebody knows something here. This is one to watch. NE reported earnings that missed analysts expectations and the CFO was citing higher drilling costs..... and the stock took it on the chin. Last there is OPK, which fell on the announcement of convert note offering.
Thursday, January 24, 2013
Mineweb Gold Price Competion
Thought this would be interesting
MINEWEB 2013 GOLD PRICE COMPETITION
ADDRESS ENTRIES TO editor@mineweb.com with GOLD PRICE COMPETITION in title line
Entrant name or nickname:
Gold Price High: ..
Gold Price Low:...
Year End Gold price: ..
2013 Average Gold Price: ..
Email address: ..
Comments: ...
Entrants are welcome to alter their forecasts right up until the closing date of January 31st.should events over this period cause them to change their views.
NOTE: WHOLE NUMBERS ONLY PLEASE. DECIMAL ESTIMATES WILL BE ROUNDED TO THE NEAREST WHOLE NUMBER (.50 WILL BE ROUNDED UPWARDS)
WINNERS WILL BE BASED ON OFFICIAL LBMA MORNING AND AFTERNOON FIXINGS AND AVERAGES THROUGHOUT THE YEAR, NOT ON ‘SPOT' PRICES.
ANY SUBMITTED COMMENTS MAY BE USED IN A SUBSEQUENT MINEWEB ARTICLE (WITH ATTRIBUTION) SHOULD WE CONSIDER THEM PARTICULARLY PERTINENT.
MINEWEB 2013 GOLD PRICE COMPETITION
ADDRESS ENTRIES TO editor@mineweb.com with GOLD PRICE COMPETITION in title line
Entrant name or nickname:
Gold Price High: ..
Gold Price Low:...
Year End Gold price: ..
2013 Average Gold Price: ..
Email address: ..
Comments: ...
Entrants are welcome to alter their forecasts right up until the closing date of January 31st.should events over this period cause them to change their views.
NOTE: WHOLE NUMBERS ONLY PLEASE. DECIMAL ESTIMATES WILL BE ROUNDED TO THE NEAREST WHOLE NUMBER (.50 WILL BE ROUNDED UPWARDS)
WINNERS WILL BE BASED ON OFFICIAL LBMA MORNING AND AFTERNOON FIXINGS AND AVERAGES THROUGHOUT THE YEAR, NOT ON ‘SPOT' PRICES.
ANY SUBMITTED COMMENTS MAY BE USED IN A SUBSEQUENT MINEWEB ARTICLE (WITH ATTRIBUTION) SHOULD WE CONSIDER THEM PARTICULARLY PERTINENT.
Map of Muni Bankruptcy Approaches.
The map below is from Governing.com and the article "How Rare Are Municipal Bankruptcies" . Answer rare. Not that I have any, but I thought the information pertained in it would be useful for muni investors.
The following map illustrates states’ different approaches to municipal bankruptcy:
Note: Click a state to view the numbers of local governments per state. Please zoom out to view Alaska and Hawaii. State policy classifications obtained from "Primer on Municipal Debt Adjustment," Chapman and Cutler LLP.
The following map illustrates states’ different approaches to municipal bankruptcy:
| State specifically authorizes Chapter 9 filings | |
| Chapter 9 filing is authorized upon conditions met and further action of state, officials or other entity | |
| Municipalities have limited authorization (click for details) | |
| No Chapter 9 authorization outlined, laws are unclear or filing otherwise prohibited |
El-Erian Weighs in on the Issue of Currency Wars and the Race to the Bottom.
The whole article can be found at Project Syndicate here. The following is an excerpt, but the whole piece is most definitely worth a read.
Not many countries nowadays seek a strong exchange rate; a few, including systemically important ones, are already actively weakening their currencies. Yet, because an exchange rate is a relative price, all currencies cannot weaken simultaneously. How the world resolves this basic inconsistency over the next few years will have a major impact on prospects for growth, employment, income distribution, and the functioning of the global economy.
Not many countries nowadays seek a strong exchange rate; a few, including systemically important ones, are already actively weakening their currencies. Yet, because an exchange rate is a relative price, all currencies cannot weaken simultaneously. How the world resolves this basic inconsistency over the next few years will have a major impact on prospects for growth, employment, income distribution, and the functioning of the global economy.
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