Daily Highlights: 11.9.09

• Asian stocks gain on G-20 stimulus, Axa takeover; treasuries, dollar fall.
• China may “soon” issue measures to limit the use of debt in real-estate purchases.
• Crude oil rises above $78/bbl as Hurricane Ida entered the Gulf of Mexico.
• Gold surged to records (hits $1,105.11/oz) on a weakening dollar.
• House health bill unacceptable to many in Senate
• India will pull back on its easy fiscal stance next year, sees 7+% growth next year:PM
• Treasuries fall as Asian stocks rose, US prepares to sell record $81B of debt this week.
• AES will sell $1.58 billion in stock to China's sovereign-wealth fund.
• AIG tapped its Treasury Dept. $4.2B in aid of restructuring.
• Allianz Q3 net more than doubles to €1.3B, revs at €22B vs. year ago's €21.1B.
• Axa Asia Pacific rejects unsolicited $10B proposal from AMP, AXA SA.
• Boston Scientific to pay $296M to settle investigation into issues with Guidant's defibrillators.
• China Minsheng Banking Corp. to raise up to $4.7B in Hong Kong IPO.
• GE, Comcast have agreed to value NBC Universal in the neighborhood of $30B.
• General Motors’ China vehicle sales in October more than doubled from a year earlier
• Freddie Mac posted a narrower Q3 loss, says it has no immediate need for more aid.
• Kraft is expected Monday to officially launch a hostile bid for Cadbury.
• Lear Corp. plans to emerge from bankruptcy protection Monday.
• Northrop Grumman to sell its TASC consulting unit to PE firms, General Atlantic, KKR for $1.65B.
• Puma AG 3Q profit fell 24% after cutting prices to clear inventory left from recession
• Reynolds American in talks to buy Swedish maker of products that help people stop smoking.
• Sands China, Macau unit of Las Vegas Sands, to raise $3.83B in a Hong Kong IPO.
• Sprint Nextel, partners readying to pump at least $1.5B more into Clearwire Corp.

Earnings Calendar: AXAS, BPZ, CRZO, CSCX, DISH, ERTS, FLR, IPAR, KWK, LINTA, MBI, SATS, SRE, TRR, TSO.

Companies to watch: Abraxas Petroleum, Cardiac Science, DISH Network Corporation, Electronic Arts, Liberty Media, Priceline.com, Quicksilver Res, Rockwell Automation, Sempra Energy, Tesoro Corporation, TravelCenters of America.

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Comments

[Anonymous]

Right well it matters not what the house passes nor what the senate gets around to doing, it'll be the piecemeal job done behind closed doors thats important.

That said look at the Senate, they are incredibly slow moving, still haven't gotten around to the climate change bill the house passed nearly a year ago. I don't think any Senator wants to vote on a major healthcare reform bill in an election year until unemployment numbers come down, it would be crass.

[Anonymous]

TIME DECAY AND OIL ETFs

If you want to play oil long, UCO is the wrong way to do it. I know, I have gotten burned before. If you actualy want to go long oil you should short SCO and the the time decay due to price volatility do the work for you instead of against you. UCO is exactly where it was on June 11th when oil was only at 72.47 instead of 80.00. So instead of having UCO gain 20% (2X oil's return) during that time, it is flat. By investing and holding a double long etf that factors daily the volatility has cost you 20%. So while oil moves up, unless it does so in a straight line, UCO stays the same or goes down over a long enough timeline. This will eventually put UCO and SCO and all other double leveraged ETFs at the final price of 0.00. Just a thought, only use these to daytrade, or go short.

[lmyh28]

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