“Pay no attention to the man behind the curtain!” – L. Frank Baum (The Wizard of Oz) Once again, the release of China’s GDP on October 19th brought few surprises. Year over year growth was reported at 6.9%, slightly higher than an expected increase of 6.8%. Recent volatility in China’s stock markets and growing concerns…
Yahoo released its third quarter earnings report after closing bell tonight, posting earnings of 15 cents per share and revenue of $1.23 billion. Analysts had been expecting earnings of 17 cents per share on revenue of $1.26 billion. In last year’s third quarter, the digital ad and search company reported earnings of 52 cents per…
Near to a generation of the UK is unable to get a foot on the property ladder due to the current affordable housing crisis. With the price of family homes soaring in price on the market, many first-time buyers and young families are being pushed out in favour of comparatively wealthier buy-to-let landlords, reports The…
UK-based payments processor, Worldpay floated its shares last week in the UK. Initially priced at a value of £4.8 billion, Worldpay is London’s largest IPO for 2015. This exit netted a reported £3.2B in profit for Worldpay investors, Advent International and Bain Capital. Reactions to the worldpay IPO Reactions to the IPO have been generally positive in fintech land….
Here’s a link to the post I did back on September 30th in which I said, “I think Tesla’s product delays and high product prices are going to catch up with it, so I put on a small short position today”. In the very brief time since then, it has lost about 20% of its value. Solar…
New Business Netherlands NV (NYSE: RACE) (better known as Ferrari) expects to raise $858 million in its upcoming IPO. Based in Maranello, Italy, New Business Netherlands NV produces luxury performance sports cars, including Ferraris. New Business Netherlands NV will offer 17.17 million shares at an expected price range of $48 to $52. If the underwriters price…
In last week’s update, I discussed the fact the recent oversold condition of the market, combined with a massive short interest position, provided the ingredients necessary for a strong reflexive rally from the recent lows. To wit: “While last week’s FOMC minutes gave the “bulls” some confidence that the Federal Reserve is not removing its accommodative…
While this morning’s dead cat bounce pressed WTI Crude up to almost $47 (Dec contract), it has been an almost non-stop downswing since China reported GDP. This morning’s chaos in the T-Bills market appears to have spooked algos out of risk-on positions and broken WTI Crude back to a $45 handle… Click on image to…
PEP reported quarterly results last week, beating expectations and reinforcing the key reasons why we have like the stock. We continue to believe PEP has a clearer and, as of today, brighter future than Coca-Cola (KO). The ongoing trends that drove PEP’s strong quarter suggest that the strategic differences between PEP and KO will only become…
The mainstream media trumpeted the latest data on housing starts as good news for the economy, but there is a dark side they aren’t talking much about. Reuters reports housing starts rose more than expected in September, driven by high demand for rental units. Groundbreaking increased 6.5% to a seasonally adjusted annual pace of 1.21 million…
