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| Record Crude; Valero, Tesoro, Stocks Decline |
| May 09, 5:01 PM EDT
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| Crude oil surges above $126 a barrel but energy stocks fell. Tesoro and Valero fell as rising oil price crimp refining margins. |
AIG swung to a loss in the first quarter after it took a charge of $9 billion in its credit derivative portfolio. The insurance comapany also plans to raise $12.5 billion through stock offering to bolster its capital base. AIG stock fell nearly 9%, as it raced to 10-year low. UK home repossessions rose to a 10-year high. European markets fell more than 1% in the region. Inflation in India and China surged on rising food and energy costs.
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• Yahoo, Countrywide Fall; Sprint, Oi
• Stocks Fall; Yahoo, Microsoft Talks
• Crude Oil Rise Kills Payrolls Rally
• Fed TAF at $75B, Stocks Gain
• Rally in Techs, Financials Lifts U.
• GM, Ford Sales Fall; Toyota, Nissan
• ExxonMobil Falls; Visa, MasterCard
• Fed Signals Pause, Stocks Fall, Bra
• GDP 0.6%, GM and PG Earnings; Stock
• Stocks Decline on Confidence, Home
• U.S. Stocks Rise on Wrigley, Ford
• Mars Buys Wrigley for $23 B
• Oil Up $2, Techs Down, Financials R
• American Express, Baidu Rise; Micro
• Apple, Credit Suisse Spark Broad Ra
• Financials Lift Dow and S&P 500
More...
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Cognizant Technology Solutions First Quarter Earnings Call
May 09, 4:57 PM EDT |
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| The current economic conditions are driving demand for services, as firms need to invest in cost rationalization to compensate for the pressures. |
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The provider of IT and business process outsourcing services reported a 40% growth in revenue to $643.1 million as the firm sees demand for its services across a range of industries, geographic markets and solution offerings. As a result, income rose 35% to $102 million or 34 cents. The investments made in broadening the service offerings, building deep domain expertise and advanced consulting and analytics capabilities position the firm well to capitalize on these needs. |
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| Nexsan |
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The Company offers energy-efficient SATA RAID systems and intelligent archival systems designed to overcome the challenges organizations face with storing and managing fixed content.
The Company currently offers two scalable lines of \"green\" energy efficient SATA RAID systems: SATABeast and SATABoy. The Company’s standalone SATA RAID disk-based systems are often packaged together by the Company’s channel partners or end users, with software or appliances from the Company’s technology partners to deliver client-tailored solutions. |
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Trade Deficit Narrows in March
May 09, 10:21 AM EDT |
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| March imports were $6.1 billion less than February imports of $212.8 billion. |
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total March exports of $148.5 billion and imports of $206.7 billion resulted in a goods and services deficit of $58.2 billion, down from $61.7 billion in February, revised. March exports were $2.6 billion less than February exports of $151.1 billion. |
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AIG Plunges 10% on Large Loss
May 09, 12:40 PM EDT |
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| AIG book value fell to $31.93 per share on large loss in its credit derivative portfolio. |
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AIG, one of the largest insurance companies in the world, suffered a sharp decline in stock value after it reported net loss in the first quarter of $7.8 billion compared to income of $4.13 billion a year ago. The unrealized loss of $9.1 billion in credit default swap portfolio forced the insurer to seek $12.5 billion in fresh capital. The stock fell 10%. |
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BJ's, Costco and Sam's Club Lead Sales
May 08, 2:48 PM EDT |
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| Discount and warehouse club sales gain in April lead all other retail chains as more consumers look for discounts. |
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April same store sales reported by retailers were better than forecasted by analysts. However, the pattern of consumers shifting the spending to discount chains and warehouse clubs was prominent in the data. BJs, Costco and Wal-Mart led the rise in same store sales after adjusting for calendar days, fuel sales and currency. TJX and Abercrombie & Fitch led the sales gains in apparel chains. |
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Visa Earnings Rise 28%
Apr 28, 7:47 PM EDT |
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Visa reported after the close, second quarter net income of $1.45 billion and net income of $314 million compared to $246 million. Earnings per share were 39 cents or adjusted earnings per share were 52 cents. Visa priced its initial public offering at $44 on March 18 of this year. The stock had run up in anticipation of earnings and fell 5% in the after hours of trading. |
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Diversified in Managers
May 08, 11:18 AM EDT |
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Multi-manager funds normally offer investors a greater level of diversification than could be achieved with a single manager fund. Fund manager Kirk Brown and the four sub-advisors at American Beacon International Equity Fund select securities based upon the security's valuation and investment growth rate relative to its country and industry. The sub-advisors each have a core value philosophy but each looks at things a little differently.
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Davis Appreciation & Income Fund |
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Keith Sabol |
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“We believe that if we can manage the use of the entire capital stack, be it convertible
securities, equities, straight debt or preferred stock, we ought to be able to provide investors with equity-like returns, but with less risk and volatility.” |
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Alpine Dynamic Dividend Fund |
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Jill Evans |
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Our primary objective is to provide both a high level of qualified dividend income plus a positive total return but we do not just
“chase dividends”. We look to invest in great companies that are returning cash to
shareholders. |
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Bullfinch Greater Western New York Fund |
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Christopher Carosa |
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We are a regional mutual fund that invests only in companies with a significant
economic presence in Western New York. We
employ a traditional value investment philosophy with a behavioral finance twist. |
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CSI Equity Fund |
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Leland H. Faust |
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We believe that the investment process is more predictable over a longer period of time than over shorter periods of time. We
are much more interested in the tried and true than in the new and exciting. |
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Seascape Focus Growth Fund |
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James W. McCarthy |
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We focus exclusively on fundamental characteristics to put together a focused
portfolio that creates the best balance between upside potential and diversification.
Overall, we want to own the best 30 companies in terms of earnings, growth rates,
PEG and P/E ratios—no more, no less. |
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more... |
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The Accumulated Wealth of Nations
Apr 25, 2:52 PM EDT |
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When there is a deficiency of information, speculations are abundant. The Sovereign Wealth Funds, established to preserve the accumulated capital in different nations, are often the subject of criticism and mistrust in Europe and the U.S. Rupert Neil Bumfrey clearly explains the role and nature of these funds, both for their own economies and the West. |
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The Dollar Crisis: Causes, Consequences, Cures |
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Richard Duncan |
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“Every bubble pops because eventually prices become so high that the underlying income of society is insufficient to finance the interest on the debt that is fueling the bubble. That is why the US property bubble is now popping.“ |
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FTSE Europe, Middle East and Africa |
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Imogen Dillon-Hatcher |
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“The market participants do not like the uncertainty; they want to know how an index will behave and to understand how we treat corporate actions when they occur. When you buy a FTSE Index, you buy it because of the transparency and the methodology." |
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FTSE RAFI Index Series |
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Jerry Moskowitz |
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“A traditional market-cap weighted index, where the stock price is a key variable, is a reflection of the investor psychology and sentiment,
while the fundamentally weighted index tends to focus on objective business
dynamics only.” |
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EverBank World Markets |
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Chuck Butler |
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“As a separate asset class, currencies provide diversification and a hedge to a portfolio, regardless whether we are in a period of a strong dollar or a weak dollar.” |
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A.G. Edwards |
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Denise Garcia |
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“The big move for video advertising online will come when there is enough video and rich-media content to attract consumers. A large consumer audience will drive advertising dollars. Until then, the Internet will be primarily direct marketing and sea |
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