The major averages ended mixed on Tuesday causing the S&P 500 Index to snap a 6-day winning streak. Volume expanded versus the prior session, however the benchmark index's loss was so slight that it barely amounted to a distribution day of any concern. Decliners led advancers by about a 4-to-3 ratio ratio on the NYSE and on the Nasdaq exchange. Financial shares created a drag on the major averages as the Broker/Dealer Index ($XBD -1.04%) and Bank Index ($BKX -0.44%! ) fell modestly.
Earnings per share trends for 5 Financials: "As shown below, earnings per share estimates have risen for GS and JPM (shown) throughout the quarter, while they have fallen for MS, BAC, and C. Goldman has seen its Q3 EPS estimate rise from $3.40 to $4.18, so GS is expected to knock the cover off the ball again this quarter. With estimates up so much, however, a failure to meet or beat the $4.18 mark could spell doom for the stock. Morgan Stanley's estimates have dropped from $0.50 down to $0.35, while Bank of America and Citigroup started the quarter! with expectations for a loss and have only seen estimates fal! l lower and lower into negative territory." - BespokeInvestment
But it's yielding 6.55%. It keeps raising its d! ividend. Click here. It has the best cell phone service (and best reputation for cell phone service) in North America. And there is talk that it will, finally, get the iPhone.
INTC trading up 5.17% in pre-market. Just remember, they lost money from the previous comparable quarter.
Goldman Sachs recently highlighted 14 companies with the highest probability of receiving a bid, including Devon Energy Corp., the biggest independent U.S. oil company, AK Steel Holding Corp., the fourth-largest U.S.-based steelmaker, and Brocade Communicatio! ns Syste ms Inc., the largest maker of networking gear that connects storage computers.
Other companies cited by Goldman were Edwards Lifesciences Corp.; WellCare Health Plans Inc.; Health Net Inc.; Heartland Payment Systems Inc.; Amdocs Ltd.; TIBCO Software Inc.; Citrix Systems Inc.; Red Hat Inc.; CommValut Systems Inc.; SuccessFactors Inc.; Leap Wireless International Inc.
The Guardian web site is reporting that London based investment company Hermitage Capital has turned to the web to expose a massive fraud involving the highest levels of government. Hermitage CEO William Browder has released his story on the web. It details corrupt and criminal a! cts that have resulted in a theft of 230 Million dollars. Names are named. Its a great insight into the corrupt workings of government and police. In an even more bizarre twist, Bowder is now wanted for questioning in relation to the acts of fraud. A russian language version of the video has now gone viral in Russia and promises to tear the lid off all efforts to cover up criminal activity by the state and police around the case.
The stunning comment that ends the article is that this activity is commonplace in Russia: "The story sounds like a thriller but isn't and it's being repeated every day".
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