posted By Optiondragon for myhappytrading.com, a social networking site made by traders for traders and INVESTORS!
From Briefing.com
Periodicals Wrap-Up for Friday, August 22
WALL STREET JOURNAL: Freddie Mac (FRE) is talking with private equity firms and other investors about buying the mortgage company’s stock, but investors are worried that they will lose their money if the U.S. government bails out the company. REUTERS: Korea Development Bank said it was open to the idea of buying Lehman Brothers (LEH). FINANCIAL TIMES: Aon (AOC) agreed to buy British reinsurance broker Benfield for GBP844M. WALL STREET JOURNAL: Boeing (BA) is considering abandoning its attempt to win a $40B air tanker contract from the Pentagon, unless the government gives the company an additional six months to submit another bid. REUTERS: Merrill Lynch (MER), Goldman Sachs (GS), and Deutsche Bank (DB) agreed to pay millions of dollars in fines and buy back billions of dollars in auction rate securities to settle government allegations over their methods of selling the securities. WALL STREET JOURNAL: Verizon (VZ) is close to reaching a deal with Google (GOOG) that would make the search engine the default Internet search provider on Verizon devices.
Asian Markets Wrap-Up for Friday, August 22
Asian stocks declined ending the fourth straight week of losses there as crude oil prices rose and credit market concerns adversely affected financial firms…JAPAN: The Nikkei 225 was down 86.17, or 0.7%, to 12,666.04, while the broader Topix index slid 8.11, or 0.7%, to 1,216.42. Bridgestone Corp. (BRDCY) tumbled 2.4% to Y1,729. Inpex Holdings Co. gained 2.2% to Y1.19M. Mitsubishi UFJ Financial Group (MTU) dropped 2.1% to Y793. Aiful Corp. slumped 8.6% to Y997. Kawasaki Kisen lost 3.8% to Y752. Sumitomo Heavy Industries was down 3.9% to Y540. Hitachi Construction Machinery Co. declined 3.6% to Y2,540. Fanuc dropped 2.5% to Y8,120…CHINA: The CSI 300 Index retreated 39.05, or 1.6%, to 2,404.93. China Cosco Holdings Co. was down 1.7% to 14.72 yuan. China International Marine Containers Co. fell 0.18 yuan, or 2%, to 8.64. Dongfang Electric Corp. slid 0.83 yuan, or 3%, to 26.87…AUSTRALIA: The S&P/ASX 200 Index advanced 56.20, or 1.15%, to 4,931.40. BHP Billtion (BHP) was up 3.1% to A$40.15. Rio Tinto Group (RTP) rose 1.8% to A$121. Woodside Petroleum (WOPEY) jumped 3.4% to A$57. Macquarie Infrastructure Group slumped 10% to A$2.23…AROUND ASIA: The Hang Seng Index retreated -539.20, or -2.58%, to 20.392.06.
U.S. equity futures now point to a higher open
U.S. equity futures are now pointing to a higher open. The futures received a boost after a report from Reuters quoted Korea Development Bank as saying they would consider buying Lehman Brothers (LEH). The story was out prior to the headline on Reuters but it caused an immediate jump in Lehman’s share price, now up more than 11.5%. There was also a jump in the futures which are well above fair value.
Lehman Brother’s forecast: Cloudy-WSJ
As storm clouds gather again around Lehman Brothers Holdings (LEH), the Wall Street Journal’s “Heard on the Street” says that any deals that the firm may be about to make need to clear and bold. Now that they may sell parts of their asset management operations, what the firm is up to has added to investor concerns. Stabilization is key, and additionally selling off troubled mortgage assets may help the balance sheet. But it also depends on what assets they can sell and what they can get for them.
Range Resources-RRC upgraded to Buy from Neutral@MLCO
Blue Coat Sys-BCSI: Opportunistic buyers as the quarter was largely in-line@PACS
PacCrest says the technical integration is going as planned. They raised estimates on better cost savings and maintain their Outperform rating.
Research in Motion-RIMM: Concerns on Bold’s pricing overdone@RBCM
RBC Capital said concerns regarding Blackberry Bold’s pricing and features vs. iPhone 3G are overdone. The firm said the Bold targets upgraders and business users while the IPhone 3G is consumer focused targeting media-Smartphone consumers. Shares of RIMM are rated Outperform.
Goldman Sachs-GS target lowered to $186 from $192, maintain Neutral@BOFA
Banc of America lowered their estimates and target to reflect the downward trending equity markets and tougher sales environment. The firm lowered their Q3 estimate to $2.50 from $3.98.
Goldman Sachs-GS target lowered to $186 from $192, maintain Neutral@BOFA
Banc of America lowered their estimates and target to reflect the downward trending equity markets and tougher sales environment. The firm lowered their Q3 estimate to $2.50 from $3.98.
Las Vegas Sands-LVS downgraded to Sell from Neutral@BOFA
Banc of America downgraded shares as they believe the stock’s valuation premium is unwarranted given weaker fundamentals and credit concerns. Target lowered to $30 from $43.
AutoZone-AZO initiated with a Neutral, target $140@UBSW
Apple-AAPL: iPhone geographic expansion not reflected in estimates@PIPR
Piper points out that today, AAPL will release the iPhone 3G in 21 new countries, increasing its potential subscriber base by 290M or 78%. The firm believes the 78% increase is not factored into Street estimates. Shares remain Buy rated.
Yingli Green Energy-YGE plans to construct a solar power plant in Beijing
Yingli Green Energy Holding Company Limited announced that it has entered into a framework agreement with the local government of a county in Beijing regarding the proposed construction of a 10 MW solar power plant.
Concur Tech-CNQR upgraded to Outperform from Perform@OPCO
Oppenheimer upgraded shares on expectations the company will outperform peers as it continues to beat expectations and improve its outlook. Target $55
China Sunergy-CSUN reports Q2 EPS 8c vs. consensus of 3c
reports Q2 revenue $111.6M vs. consensus $94.74M.
Las Vegas Sands-LVS downgraded to Sell from Neutral@BOFA
(Important note on how to use this upgrade/downgrade list with analyst comments and news….you must parse out the factual data (Factual data is the most important) from the opinionated data and always take all analyst comments with a grain of salt. Do not follow blindly with their recommendations. Remember that technicals are the most powerful force in short term direction for stock prices due to the law of supply and demand.)
Fast Money position recap- First Moves: Pete likes AMLN, Joe likes USO higher, Guy thinks CELG is a buy.
Macke Owns (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (MS), Najarian Owns (AAPL) And Is Short (AAPL) Call, Najarian Owns (ANR) And Is Short (ANR) Call, Najarian Owns (JOYG) Call Spread, Najarian Owns (LEH) Put Spread, Najarian Owns (NOK) And Is Short (NOK) Calls, Najarian Owns (XLY) Puts; Terranova Owns (AAPL), (BNI), (CME), (EOG), (FCX), (GS), (GOOG), (INTC), (KOL), (NOV), (POT), (RIMM), (SA), (XLF), (SU), (X), (VLO), (YHOO); Terranova Owns (AIG) Puts; Terranova Is Short Crude Oil Time Spread (Short Dec. 2009, Long Dec. 2012); Terranova Is Long Crude Oil Futures (Dec. 2012).
Some big buyers are hawing on the beaten down financials suck as LEH. My GS call buy yesterday looks great!
Ben is speaking today at 7am PT and today could be lackluster and boring. Watching the financials long here for a trade, and intently watching how the market will go into the weekend with some possible deal making this weekend. Pick plays with a high probability of success, have focus and patience, run technicals through supply and demand. Great Luck and HappyTrading.
Think Fractally, patterns are present in the market as they are in nature, both are run on formulas.
A snowflake’s shape depends on the temperature at which it forms. This type of snowflake, called a sectored plate, forms when the temperate dips below about 5 degrees Fahrenheit (-15 degrees Celsius). A formula is present here.
Did you like this article?
Submitted By 
's
