Search This Blog


Search Tool

Sep 16, 2011

Blackberry Messenger disrupted in the Americas: Reuters - Technology Report

Research In Motion's dismal quarterly results, the latest in a string of disappointments by the BlackBerry maker, could prove a boon to prospective buyers eyeing its treasure trove of wireless patents.

RIM's shares took a beating on Friday, tumbling as much as 24 percent, a day after it reported earnings and issued an outlook that gave shareholders little reason to expect an imminent turnaround by the once proud Canadian technology giant.

Seven states have joined the U.S. Justice Department's lawsuit to stop AT&T's proposed purchase of T-Mobile USA, the Justice Department said.

Two of Twitter's earliest investors have left the company's board of directors, the latest change to the fast-growing social media company's leadership.

Private equity company, Silver Lake, is considering a bid to buy Yahoo according to The New York Times. Other companies possibly interested in Yahoo or its assets include Microsoft or the Alibaba Group.

MarketWatch | Weekly Roundup - Top Ten Videos Sept. 12 - 16

Weekly Roundup
SEPTEMBER 16, 2011

MarketWatch top 10 stories Sept. 12 - 16

By MarketWatch

NEW YORK (MarketWatch) — U.S. stocks closed higher for the fifth straight session Friday, pushing weekly gains to more than 4%, as investors dialed down their concerns about an impending Greek debt default.

It was the first weekly rise in three for the Dow average and the S&P 500.

The Dow Jones Industrial Average(DJIA)  gained 7 4.7% for the week. The S&P 500 (SPX) rose 5.4% for the week and the Nasdaq Composite (COMP) rallied 6.3% for the week.

Also, please be sure to watch our Week Ahead videos for the U.S. and Europe.

 U.S. Week Ahead:Fed Meeting, Housing Data

 Europe Week Ahead:Bank Minutes May Give QE Clue

Greg Morcroft, assistant managing editor.

China willing to expand investments in Europe

China views Europe as a strategic partner and stands willing to expand its investments in the region, Premier Wen Jiabao said Wednesday, urging that Europe acknowledge China's status as a market economy. "We have been concerned about the difficulties faced by the European economy for a long time, and we have repeated our willingness to extend a helping hand and increase our investment," the official Xinhua News Agency cited Wen as saying in an address to the World Economic Forum in the northeastern coastal city of Dalian. Read MarketWatch story about China willing to expand investments in Europe

Moody's cuts pair of French banks

Moody's Investors Service on Wednesday downgraded French banks Credit Agricole SA and Societe Generale SA as the credit-rating company also said it has become increasingly concerned about the funding and liquidity needs of the lenders. The announcements came after big swings for French-bank stocks in recent days amid reports that downgrades were imminent and as investors became increasingly nervous about the banks' funding situation. Please see MarketWatch story on French bank debt rating cuts

Buying opportunity of a lifetime getting closer

Even a few weeks ago, most analysts would have argued that the euro could struggle on for a few more years yet.There was plenty of ammunition left in the armory. Moving to a common fiscal policy, and jointly issued eurobonds, would help out the weaker members of the single currency. A massive dose of quantitative easing from the European Central Bank would lift the continent out of depression. Sure, neither would be a long-term solution. But they would keep the show on the road. This week, even a temporary fix looks increasingly unlikely. See full MarketWatch story,

End game approaches for Greek crisis

Financial markets indicate Greece's chaotic sovereign-debt saga is moving inevitably toward default, economists said, leaving European leaders and policy makers scrambling to avert a potentially disastrous domino effect that could wreck the euro and send the global economy into a tailspin. Signs of stress in the banking system continue to mount. The European Central Bank on Wednesday said it allotted $575 million in dollar loans to two banks, marking the second time in a month that its dollar swap facility has been tapped. Read full MarketWatch coverage of Greek crisis

Can stocks pay your mortgage

Should you take out a new mortgage — or home equity line of credit — and spend the money buying stocks? The question may sound totally crazy. It's certainly not for the unsophisticated. But events in the stock, bond and mortgage markets in the past few weeks have made it a question you have to ask. What's going on? Read Brett Arends' commentary, on MarketWatch

Record poverty last year as household income dips

A record number of people were in poverty last year as households saw their income decrease, according to data from the Census Bureau Tuesday, demonstrating the weakness of the economy even after the official end of the recession. The 46.2 million people in poverty in 2010 was the most for the 52 years that estimates have been published, and the number of people in poverty rose for the fourth consecutive year as the poverty rate climbed to 15.1% — the highest since 1993 — up from 14.3% in 2009. Read MarketWatch story on record levels of poverty in the U.S.

Netflix momentum story stalls

The meteoric rise of Netflix Inc. has led many analysts and industry figures to call the online video-rental business a "momentum story." But on Thursday, Netflix cut its quarterly subscriber forecast, leading those already skeptical about the company to say its momentum has faltered. Netflix's case hadn't been helped by a breakdown in talks over continuing its content deal with Liberty Media Corp., which provided content from its Starz programming library. The current deal is set to expire at the end of February 2012. Read MarketWatch coverage of Netflix's woes

Job seekers, get ready for personality tests

And you thought vandalizing your high school's drama club room wouldn't haunt you in adulthood.As it turns out, your childhood misdeeds, along with whether you care about someone else's bad day and how much you read, may have an impact on how a prospective employer views you.To get a read on applicants, more employers are using pre-hire assessments, which can check personality, cognitive ability, and competency, among other areas. About 56% of companies are using some sort of assessment tool as part of the hiring process this year, up from 48% in 2010, according to Aberdeen Group, a Boston-based research firm. Read Ruth Mantell's On the Job column

Foreclosure filings jump 7% in August from July

The number of default notices mailed to homeowners who were late on their mortgages soared in August to a nine-month high — the largest month-to-month increase in four years — and that helped push the rate of overall foreclosure filings higher last month, according to data released by RealtyTrac Inc. on Thursday.Foreclosure filings, which include those late-payment notices plus auction announcements and bank repossessions, rose 7% in August compared with July, hitting a total of 228,098 U.S. properties. But the filing rate fell 33% from a year earlier. Read MarketWatch coverage of foreclosure data

RIM's shrinking margins spark more worry

Sentiment on Wall Street grew even worse on Research In Motion Ltd. on Friday after the handset maker reported another period of disappointing results that indicated potential long-term problems with its business model. In particular, several analysts have keyed in on the decline in the company's gross margins, brought about by a quicker-than-expected decline in sales of older BlackBerry smartphones, as well as higher spending on promotions. Gross margins fell to 39% in the quarter ended Aug. 27, compared to 44% for the same period last year, and RIM projected a further decline for the current period. Three brokers downgraded the stock, adding to negative sentiment that has grown significantly in the last few months. Seventeen brokers now recommend selling the shares, with 13 having buy ratings and 25 maintaining neutral calls, according to Thomson Reuters data. Read MarketWatch coverage of RIM's difficult quarter

SEC | Litigation Release: Escala Group, Inc., Gregory Manning, and Larry Lee Crawford, CPA

SEC Settles Disclosure and Accounting Fraud Charges Against Escala Group, Inc.’s Former CFO, Larry Lee Crawford, CPA.

Escala Group, Inc., Gregory Manning, and Larry Lee Crawford, CPA

Zeal Intelligence Weekly - "Europe Stock Selloff" by Adam Hamilton: From The Desk of Nick Nicolaas - Mining Interactive:

Dear Friends:
This week’s Zeal Intelligence Newsletter has been posted on the Mining Interactive Website.
Zeal Intelligence Weekly

Brought to you by

Potent forces try to tie hands of deficit panel: Reuters - Daily Investor Update


Euro zone hopes lift Wall Street for fifth day
NEW YORK (Reuters) - Stocks rose for a fifth straight day on Friday and the S&P 500 scored its best week since early July on signs that leaders were taking action to limit the damage from a sovereign debt crisis. | Full Article

UBS trader charged with $2 billion fraud
September 16, 2011 02:58 PM ET
LONDON/ZURICH (Reuters) - UBS trader Kweku Adoboli wept in a London court on Friday as he was charged with fraud and false accounting dating back to 2008, a day after the Swiss bank was plunged into crisis by revealing a $2 billion trading loss. | Full Article
BlackBerry bashed as questions swirl about future
September 16, 2011 03:45 PM ET
(Reuters) - Investors drove Research In Motion's stock down 20 percent on Friday as dismal quarterly results raised prospects that the BlackBerry maker will be sold, broken up, or at least placed under new leadership. | Full Article
Consumer mood up but future outlook at 31-year low
September 16, 2011 01:49 PM ET
NEW YORK (Reuters) - Consumer sentiment inched up in early September but Americans remained gloomy about the future with their expectations falling to the lowest level since 1980, a survey released on Friday showed. | Full Article
Geithner presses EU to act; meets resistance
September 16, 2011 03:17 PM ET
WROCLAW, Poland (Reuters) - Treasury Secretary Timothy Geithner drew a cool response from EU policymakers when he urged them to leverage their bailout fund to better tackle the debt crisis and to start speaking with one voice. | Full Article
Suspicious trades probed on Wall Street: regulator
September 16, 2011 02:16 PM ET
NEW YORK (Reuters) - A Wall Street regulator said industry complaints about market manipulation and trade reporting have spiked this year, raising questions about the adequacy of banks' internal controls over their traders. | Full Article
Potent forces try to tie hands of deficit panel
September 16, 2011 04:37 PM ET
WASHINGTON (Reuters) - The days of "go big" in Washington's latest deficit-reduction drama are morphing into "don't go there." | Full Article
Arizona air base locked down after armed man spotted
September 16, 2011 04:25 PM ET
TUCSON, Ariz (Reuters) - Davis-Monthan Air Force Base in southern Arizona was on lockdown because of a "potential security situation" after a man was spotted with a weapon near a dormitory, authorities said on Friday. | Full Article
House Republicans back some of Obama jobs plan
September 16, 2011 04:30 PM ET
WASHINGTON (Reuters) - Sounding cooperative but drawing a firm line on tax increases, House Republican leaders said on Friday they see some areas of possible agreement with President Barack Obama on his jobs plan. | Full Article
Gaddafi loyalists put Libyan forces to flight
September 16, 2011 04:25 PM ET
BANI WALID/SIRTE, Libya (Reuters) - Diehard loyalists of Muammar Gaddafi fired barrages of rockets and mortars to repel an assault by Libyan interim government forces on one of their last bastions on Friday and also held off an advance on another. | Full Article
Power of suggestion affects heart arteries
U.S. to develop chip that tests if a drug is toxic
Active legs at night linked to heart problems
Analysis: Bachmann vaccine comments toxic, doctors say
Prescription drugs poisonings up in kids

Money Shpw Investors Daily Alert - Today's Top Pros' Top Picks: 6 Companies with Big Plans for LNG, Peter Staas

Investors Daily Alert

Today's Top Pros' Top Picks
6 Companies with Big Plans for LNG, Peter Staas
Still the King of Energy Stocks, Allen Good

Today's Gurus' Views & Strategies
No Need to Bet the Farm, Igor Greenwald
Talk About Group Think…, Todd Shriber

Today's Charts in Play
How to Play the Bull Flag in FCX, Tom Aspray Exclusive Interviews
How Much Fear Can You Take?, Michael Yoshikami

Ideas from Around the World
Put China Into Perspective, George Wolff

Today's Featured Videos
PIMCO's Secular Outlook: What Does It Mean for Canada, Stuart Graham
Why Stocks Will Strengthen Into Year End, Robert Gorman

Kitco New York Market Close Report

New York Market Close Sep 16/11 05:24 PM EDT

Book: Female advisers sidelined in Obama White House: The Washington Post | Politics Afternoon Edition

The Washington Post
Politics Afternoon Edition


  1. Book: Female advisers sidelined in Obama White House

    In an excerpt obtained by The Post, a senior female aide to President Obama called the White House a hostile environment for women.
    » Read full article
  2. Perry and vaccine lobbyist have long history

    Texas Gov. Rick Perry's controversial vaccine order raises questions about the influence of a powerful lobbyist.
    » Read full article
  3. Congress finds meaning in Constitution

    Legislators demonstrate an enduring tendency to make the Constitution say whatever they want it to.
    » Read full article
  4. U.N. showdown over Palestinian statehood tests U.S. role in Mideast

    The Obama administration is confronting the stark new limits of its influence in the Middle East.
    » Read full article
  5. Romney stumps on Social Security

    Romney drives home Social Security message to seniors on the campaign trail.
    » Read full article

NYT: Afternoon Business News: Move by Central Banks Lifts Wall Street for 2nd Day


Cold-Water Detergents Get a Chilly Reception

The modest sales of cold-water laundry detergents suggest that skeptical consumers are more concerned about getting the clothes clean than being green.

Move by Central Banks Lifts Wall Street for 2nd Day

Stocks traded higher in New York on Friday, a day after the world's leading central banks acted to provide more dollar liquidity.

Police Charge UBS Trader With Fraud

The charges of false accounting against the trader, Kweku M. Adoboli, are from 2008 to 2009 and from January 2010 through Wednesday.

Alabama County Averts Bankruptcy

The state's most populous county agreed Friday to restructure more than $3 billion of debt, avoiding for now what would have been the biggest municipal bankruptcy filing in American history.

U.A.W. Reports Contract Talks Are 'Very Close'

Negotiators from the United Automobile Workers and General Motors were closing in on a new labor agreement Friday, but parallel talks with Chrysler were going more slowly.

The Economist | Selected New Articles: Buttonwood's Notebook / Difference Engine / Banyan ... and more

Buttonwood's notebook: What's $2 billion between friends?
Another example of why taxpayers shouldn't be responsible for investment banking losses
read more »

Difference Engine: Disaster waiting to happen
Old and creaking, America's electricity grid needs urgently to be rewired
read more »

Banyan: Najib the bold
A welcome dose of reform in Malaysia
read more »

Newsbook: Left turn for Denmark
A left-wing party bucks the European trend and wins an election
read more »

Bagehot's notebook: The depressing tale of Johann Hari
Standards in British journalism sink even further
read more »

Prospero: On your toes
A wonderful Degas show in London
read more »

Free exchange: Central banks to the rescue
Why European banks are so desperate for dollars
read more »

Daily chart: The R-word index
Mentions of recession in the financial press point towards another one
read more »

Online debate: Peace and justice
This house believes that peace and justice need to go hand in hand
read more »

CBS NEWS | Political Hotsheet Top Stories: Romney boasts of Cadillac collection in Arizona

The CBS News Political Hotsheet newsletter

White House hopeful, whose father was governor of Michigan, touts his favoritism for Detroit cars at a Ford showroom in Arizona
Read full story
Romney boasts of Cadillac collection in Arizona

Huntsman snags endorsement from Ridge Former Homeland Security chief says former Utah governor and ambassador to China has unique ability to bring people together

Defense industry goes on offense over cuts As the "super committee" strives for $1.2T in savings, the defense industry launched an aggressive campaign to stave off defense cuts

Obama to meet with Libyan opposition leader President will meet with Transitional National Council leader Mahmoud Jibril while in New York for United Nations general assembly meetings

Obama: My odds are better in 2012 than in 2008 At a fundraiser, president says his chances for re-election are higher than his chances for election were in 2008

U.S. stocks extend win streak to five: U.S. Stock Marketat Close | MarketWatch - Market Pulse

By Laura Mandaro

SAN FRANCISCO (MarketWatch) -- U.S. stocks closed higher for the fifth straight session Friday, pushing up weekly gains to more than 4%, as investors dialed down their concerns about an impending Greek debt default. It was the first weekly rise in three for the Dow average and the S&P 500. The Dow Jones Industrial Average DJIA +0.66% gained 75.91 points, or 0.7%, to 11,509.09 and gained 4.7% for the week. The S&P 500 SPX +0.57% rose 6.9 points, or 0.6%, to 1,216.01 and rose 5.4% for the week. The Nasdaq Composite COMP +0.58% gained 15.24 points, or 0.6%, to 2,622.31 and rallied 6.3% for the week.

CMI | NY Trading - Spot Prices at Close

CMI - Gold & Silver

Spot Prices as of the close of trading in New York
As of: Friday September 16, 2011

  Today Change Week Ago Month Ago Year Ago
Gold $1,813.05 +$32.30 $1,857.85 $1,785.20 $1,273.30
Silver $40.85 +$1.32 $41.62 $39.92 $20.77
Platinum $1,817.00 +$33.60 $1,840.10 $1,821.00 $1,610.10
Palladium $721.30 +$0.00 $739.50 $760.00 $551.55

SEC Enforcement Actions: Judments entered against defendants For Distributing Unregistered Shares Of Universal Express Inc.


U.S. Securities and Exchange Commission

Litigation Release No. 22094 / September 16, 2011

SEC v. Doyle Scott Elliott, Scott Elliott, Inc., Michael J. Xirinachs, Emerald Asset Advisors LLC, Robert L. Weidenbaum, and CLX & Associates, Inc., Case No. 09-cv-7594-RJH-THK (S.D.N.Y. September 6, 2011)

5 checkpoints on your race to retirement. MarketWatch | Personal Finance Daily

Personal Finance Daily
SEPTEMBER 16, 2011

5 checkpoints on your race to retirement

By MarketWatch

Don't miss these top stories:

Robert Powell writes about five easy-to-spot checkpoints you can look at to figure how close you are to the retirement finish line. They include understanding your Social Security and Medicare benefits, calculating how much pay needs to go toward your nest egg and even learning out what you really want to do when you retire.

Also, in today's Realty Q&A column, Lew Sichelman offers caution on setting up a rent-to-own agreement for your property.

Anne Stanley , managing editor, Personal Finance

5 checkpoints on your race to retirement

Everyone likes to keep score. It's a way of telling whether we're making progress or not, of whether we are winning or not. But when it comes to retirement, many don't have a sense of how well they're doing or even if they're in the race.
Read more: 5 checkpoints on your race to retirement.

How to sell your house in a rent-to-own deal

If you want to sell your house to a tenant in a rent-to-own deal, then make very sure you have a contract that outlines all the details. Lew Sichelman offers tips on how to do it right.
Read more: How to sell your house in a rent-to-own deal.


Gold, platinum ratio shifts, hints at wider change

Platinum prices have comfortably traded much higher than gold for the bulk of the last 20 years or so, but that relationship is starting to change and may signal a new order of value in the precious metals.
Read more: Gold, platinum ratio shifts, hints at wider change.

Can empty nesters still afford to splurge?

When their kids strike out on their own, many boomer parents seize the chance to splurge on themselves. Are they putting their retirement at risk?
Read more: Can empty nesters still afford to splurge?

Strategy for a volatile, sideways market

Writing covered calls has been profitable during periods when call prices were relatively expensive, as they are now.
Read more: Strategy for a volatile, sideways market.

What market-timers learned from Lehman

Those who think they can time the stock market's shorter-term gyrations may want to think twice, even thrice. That is the lesson Mark Hulbert draws from market-timers' sobering experience before and after the bankruptcy of Lehman Brothers Holdings Inc. (LEHMQ)
Read more: What market timers learned from Lehman.


Geithner urges euro unity as ministers meet

U.S. Treasury Secretary Timothy Geithner on Friday urged euro-zone finance ministers and the European Central Bank to work together to solve the region's debt crisis, and to enhance the power of the region's rescue fund amid signs that officials have yet to overcome divisions over how to proceed.
Read more: Geithner urges euro unity as ministers meet.

Bid to keep higher mortgage limits in peril

A short-term extension of regulations seeking to allow the maximum size of loans guaranteed by Fannie Mae and Freddie Mac to remain at the current level of $729,750 is expected to fail, for now, a spokesman for a key legislator says.
Read more: Bid to keep higher mortgage limits in peril.

Consumers' views on current economy rise

With improved views of the current economy, a gauge of consumer sentiment rose in September after tumbling to a nearly three-year low in August, according to the gauge from University of Michigan/Thomson Reuters.
Read more: Consumers' views on current economy rise.

Supercommittee should learn to fly right

A business leader says balancing the budget isn't that tough: Just fund the things that work.
Read more: Supercommittee should learn to fly right.

Farm subsidies shouldn't go to land speculators

More investors are buying farmland as a safe asset, but columnist Thomas Kostigen argues they shouldn't get government subsidies aimed at farmers.
Read more: Farm subsidies shouldn't go to land speculators.

Money Show Traders Daily Alert: An Idea So Good you can Taste it

Traders Daily Alert
Tips for Traders
Technical Indicators: Why Less Is More, Sam Evans

Options Idea
How to “Roll Up” Option Profits, Tyler Craig

Charts in Play
Tech Buying Opportunity Ahead, Tom Aspray

Currency Corner
Intro to Trading the British Pound, Stephen D. Simpson

Trading Idea of the Day
Trade Idea So Good You Can Taste it, Andy Waldock

Daily Market Studies
Trading Outlook for Today: Sept. 16, Daniel Gramza Exclusive Interviews
What’s Driving World Currency Markets?, Stanley Dash

Today's Featured Videos
Keys to Trading Success, Rob Hoffman and Fausto Pugliese
Easy Ways to Sabotage Your Trading, Gary Dayton

Unemployment Rates Rose in Majority of States: NYT: Business News

Unemployment Rates Rose in Majority of States

WASHINGTON (AP) — Unemployment rates rose in a majority of states in August for a third straight month, further proof that job growth is weak nationwide.
The Labor Department says unemployment rates increased in 26 states. They fell in 12 and remained unchanged in 12.
Nevada had the nation's highest unemployment rate among states at 13.4 percent. It rose from 12.9 percent in July.
North Dakota had the lowest unemployment rate, at 3.5 percent. That's up from 3.3 percent in July.
Nationwide, hiring fell significantly in August. The economy added no new net jobs, and the unemployment rate stayed at 9.1 percent for the second straight month.

Stocks & Markets in the News: Gold edges higher, vies to snap losing streak: MarketWatch | Metal Stocks

By Claudia Assis, MarketWatch 

SAN FRANCISCO (MarketWatch) — Gold futures rose modestly on Friday, looking to snap a two-day losing streak as investors bought the metal ahead of the weekend and the potential for worrying headlines.
Gold for December delivery GC1Z +0.87%  added $9.50, or 0.5%, to $1,790.80 an ounce on the New York Mercantile Exchange. 

Gold for December delivery GC1Z +0.91%  added $9.50, or 0.5%, to $1,790.80 an ounce on the New York Mercantile Exchange.  

Other metals also trade higher, with December silver SI1Z +2.62%  trading up 68 cents, or 1.8%, to $40.18 an ounce.
Earlier, U.S. Treasury Secretary Timothy Geithner urged euro-zone finance ministers and the European Central Bank to show unity to solve the region’s debt crisis and enhance the euro zone’s rescue fund.
The officials are meeting in Wroclaw, Poland, and Geithner is the first U.S. Treasury Secretary to attend an informal meeting of the euro-zone finance ministers, underscoring the U.S.’s anxiety over the problems in the area. 

Gold dropped below $1,800 on Thursday after the European Central Bank announced a concerted move with other central banks to provide more liquidity for European banks.
The steep 2.5% loss, to $1,781.40 an ounce, took the gold contract to the lowest since Aug. 25. 

 Claudia Assis is a San Francisco-based reporter for MarketWatch.

Caution Likely After Recent Gains Amid Unresolved Fundamental Issues

RTT News: Global Financial Newswires
RTTNews.- The major U.S. index futures are pointing to a lower opening on Friday, with sentiment guarded as fundamental concerns persist despite stray support measures announced by governments and central banks to steady the faltering economic recovery. The markets may focus on a few catalysts, including the results of a consumer sentiment survey by the Reuters/University of Michigan and a 2-day Ecofin meeting beginning later today.

Most Asian markets advanced earlier in the day, while the European markets are also higher for a fourth straight session. However, reflecting a moderation in risk appetite, gold is modestly firmer and other safe havens such as dollar are gaining ground. The gains of the past few sessions may make traders wary, prompting traders to do some profit taking unless further positive catalysts emerge.

Coordinated central bank responses to support the euro saved the day for the U.S. markets on Thursday despite the release of bleak economic data. The coordinated move orchestrated by the Federal Reserve, the European Central Bank, the Bank of England, the Swiss National Bank and the Bank of Japan to ease U.S. dollar funding stress of European financial institutions through the offering of longer-term dollar term loans to banks made traders overlook the Greek debt crisis and a spate of weak data released out of the U.S.

The major averages opened higher despite separate reports showing an increase in weekly jobless claims, continued contraction in manufacturing activity in the New York and the Philadelphia regions and anemic industrial production growth. Although the first hour of trading saw some volatility, the major averages advanced steadily thereafter to close notably higher, extending their gains for a fourth straight session.

The Dow Industrials ended up 186.45 points or 1.66 percent at 11,433 and the Nasdaq Composite Index fell 34.52 points or 1.34 percent before closing at 2,607. Meanwhile, the S&P 500 Index closed at 1,209, up 20.43 points or 1.72 percent.