Market News
Surging Natural Gas Prices Takes Toll On Rentech
Forbes - 3 Apr 2013 23:35
For much of the latter half of 2012, nitrogen-based fertilizer companies were great investments. These firms often utilize natural gas as a key input for their processes, so when prices of this potent fuel are slumping, ...
Ex-Broker Pleads Guilty to Insider Trading
Wall Street Journal - 3 Apr 2013 23:11
A former Euro Pacific Capital broker accused last year of trading ahead of a $1.2 billion acquisition by International Business Machines Corp. has pleaded guilty to insider trading charges.
Natural-Gas Market Tries a Balancing Act
Wall Street Journal - 3 Apr 2013 22:53
The technology that opened up vast new shale acreage is still there, but the low prices it created are slowly helping bring the natural-gas market back into balance.
Citadel Asks Supreme Court to Hear Derivatives Case
Wall Street Journal - 3 Apr 2013 22:04
The firm wants to loosen the hold of the Chicago Board Options Exchange over contracts linked to major stock indexes.
J.P. Morgan Scores a Victory in Mortgage Suit
Wall Street Journal - 3 Apr 2013 22:03
A federal judge dismissed a significant portion of Dexia's fraud lawsuit against J.P. Morgan Chase, giving the U.S. bank a victory as it tries to fend off legal headaches tied to mortgage securities that soured during th...
2nd Quarter Pivots to Watch
Forbes - 3 Apr 2013 22:00
Stocks closed mixed Tuesday and the market internals were weaker than prices for the first time all year. The Dow Industrials and S&P 500 were both up over 0.5% but more stocks declined than advanced. This now makes this...
Analyst Moves: AMG, PNRA
Forbes - 3 Apr 2013 21:56
Affiliated Manager Group (AMG) was upgraded by Bank of America/Merrill Lynch (BAC) from neutral to buy with a price target of $165 due to the potential for acquisitions.
Analyst Moves: CI, CRL
Forbes - 3 Apr 2013 21:27
Cigna (CI) was downgraded by Citigroup (C) to neutral as the current stock price does not represent a good entry point due to an all time high valuation. The price target was set to $65.
Moleskine Falls in Milan IPO
Wall Street Journal - 3 Apr 2013 21:19
The listing was the first initial public offering on the Milan bourse in almost a year.
Russian Ruble Weakens Amid Rate-Cut Fears
Wall Street Journal - 3 Apr 2013 20:05
The Russian ruble slipped to its lowest levels against the dollar since November amid growing fears that the central bank will give in to growing political pressure to ease monetary policy as an economic slowdown deepens...
China to Pass U.S. as Top Oil Importer
Wall Street Journal - 3 Apr 2013 19:58
With the North American shale boom reducing U.S. import needs, China is expected to be the world's largest oil importer by 2014, the Organization of the Petroleum Exporting Countries said.
IMF: Italy's Debt Woes Quickly Hit Private Sector Borrowers
Wall Street Journal - 3 Apr 2013 19:23
A jump in Italian government bond yields caught domestic banks off guard and caused a credit crunch in the country in late 2011, the International Monetary Fund concluded in a new study.
Big Companies Are Throwing Off Cash Faster Than They Can Spend It
Forbes - 3 Apr 2013 19:16
With Apple stock languishing, the vultures have been circling the company's massive cash hoard. The iPhone maker isn't the only company sitting on a massive war chest though, but it turns out that management inaction isn...
RBS Faces $6 Billion Lawsuit
Wall Street Journal - 3 Apr 2013 18:11
Royal Bank of Scotland Group and four of its former executives have been sued by 12,000 individuals and around 100 institutions alleging that they misled investors about the bank's financial health during a 2008 share sa...
U.S. Stocks Pull Back
Wall Street Journal - 3 Apr 2013 18:10
Stocks slipped, as investors hit pause after a pair of disappointing economic readings from the U.S. and ahead of two key global monetary-policy announcements.
Ex-Goldman Trader Pleads Guilty in Fraud Probe
Wall Street Journal - 3 Apr 2013 18:04
A former Goldman Sachs trader pleaded guilty to one count of wire fraud after he was accused last year by securities regulators of concealing a $8.3 billion futures position.
Lawsuit Against SAC Capital's Cohen Revived
Wall Street Journal - 3 Apr 2013 17:53
A U.S. appeals court partially reinstated a lawsuit against hedge-fund manager Steven A. Cohen by his ex-wife, ruling that a lower court erred when it threw out her fraud claims.
Barclays Report Cites Failings Leading to Scandal
Wall Street Journal - 3 Apr 2013 17:20
Excessive pay, insufficient boardroom oversight and the lack of a cohesive corporate culture at Barclays laid the groundwork for it to stumble into a series of scandals in recent years, according to a report.
EPU: ETF Outflow Alert
Forbes - 3 Apr 2013 17:12
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI All Peru Capped Index Fund (AMEX: EPU) where we have detected an approximate ...
QLD, ALTR, ADI, ADSK: Large Outflows Detected at ETF
Forbes - 3 Apr 2013 17:12
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Proshares Ultra QQQ (AMEX: QLD) where we have detected an approximate $27.7 million dollar...
EFV: Large Outflows Detected at ETF
Forbes - 3 Apr 2013 17:12
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI EAFE Value Index Fund (AMEX: EFV) where we have detected an approximate $19.9...
IEV: Large Outflows Detected at ETF
Forbes - 3 Apr 2013 17:11
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares S&P Europe 350 Index Fund (AMEX: IEV) where we have detected an approximate $24.1 ...