Archive for ◊ November, 2009 ◊

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• Monday, November 30th, 2009

Australia hikes quarter point, as expected
The Reserve Bank of Australia raises its policy cash rate, as widely expected, by 25 basis points to 3.75%, marking the central bank’s third rate-hike since September.


Dubai blackout over debt plans to hit Gulf markets (AFP)

Traders follow the market's movement at the Stock Exchange in Kuwait City in September 2009. A lack of details on how Dubai plans to pay off its 80-billion-dollar debt mountain will hit Gulf stock markets sharply this week when they trade for the first time since news broke of the emirate's problems, analysts predict.(AFP/File/Yasser al-Zayyat)AFP – A lack of details on how Dubai plans to pay off its 80-billion-dollar debt mountain will hit Gulf stock markets sharply this week when they trade for the first time since news broke of the emirate’s problems, analysts predict.


FTSE rises 0.30% at open (AFP)

The FTSE 100 reversed early gains to trade in negative territory as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai's debt crisis.(AFP/File/Ben Stansall)AFP – London’s benchmark FTSE 100 shares index advanced in opening trade on Monday, after sharp Asian gains across Asia, on easing worries about Dubai’s debt crisis, dealers said.


How the major stock indexes fared on Monday (AP)
AP – The stock market closed out its best month since the summer, posting big November gains even as investors worried about the strength of the holiday shopping season.

FTSE slides on Dubai worries (AFP)

The FTSE 100 reversed early gains to trade in negative territory as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai's debt crisis.(AFP/File/Ben Stansall)AFP – The FTSE 100 reversed early gains to trade in negative territory on Monday as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai’s debt crisis.


David Weidner’s Writing on the Wall: A new index to measure Wall Street
David Weidner offers a “carper’s index,” a series of statistics outlining what’s happening on Wall Street.


Mark Hulbert: Odds favor large-caps over small-caps
Even if 2009 were a normal year, a smart trading strategy over the next few weeks would be to bet that large caps will outperform the small caps. And this has not been a normal year.


Mark Hulbert: Apple tops the leader board
The stock now at the head of the most popular is Apple Inc., writes Mark Hulbert.


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• Monday, November 30th, 2009

Thor Reports Much Improved First Quarter 2010 Results
JACKSON CENTER, Ohio, Nov. 30 /PRNewswire-FirstCall/ — Thor Industries, Inc. (NYSE: THO) today reported increased sales, net income and E.P.S. for the first quarter ended October 31, 2009. Net income was $23,429,000, more than quadruple last year’s $5,120,000. E.P.S. were 42 cents versus 9 cents last year. Sales for the quarter were $502.6 million, up 15% from $438.8 million.

CRH Medical reports Q3 2009 results
VANCOUVER, Nov. 30 /PRNewswire-FirstCall/ – CRH Medical Corporation (CRM:TSX-V) announced today unaudited results for the three and nine months ended September 30, 2009 (all figures are in US dollars):

S&P holds 1,100 level ahead of Thanksgiving
Encouraging results from Tiffany added to the holiday cheer on Wall Street after the weak dollar lifted stocks

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• Monday, November 30th, 2009

UAE acts to shore up banking system and calm markets (AFP)

A foreign labourer pictured at the construction site of Dubai's Business Bay on November 27. The United Arab Emirates central bank has pumped more liquidity into its banking sector amid fears that local stock markets may plunge after debt-laden Dubai asked to suspend debt payments.(AFP/File/Karim Sahib)AFP – The United Arab Emirates central bank on Sunday pumped more liquidity into its banking sector amid fears that local stock markets may plunge after debt-laden Dubai asked to suspend debt payments.


Most Financial Advisors Long to Be Independent, Schwab Survey Says
Six out of 10 financial advisors at major firms are interested in becoming independent; 80% believe their clients would follow them, the survey found.

UAE stock markets drop, Nakheel seeks debt plans (AFP)

A man follows market movements at the Dubai Financial Market in the Gulf emirate on November 30. Stock markets in Dubai and neighbouring Gulf emirate Abu Dhabi have gone into freefall as investors in the United Arab Emirates grabbed their first chance to respond to Dubai's debt crisis.(AFP/Karim Sahib)AFP – Dubai’s stock market plunged 5.94 percent on Monday as trading opened following an announcement by the Arab emirate that it intends to seek a freeze on debt repayments.


Gravitas Offers Cloud Computing to Hedge Funds, Private Equity Firms
Service allows small- and medium-sized financial alternative asset management firms to rent computing resources.

US stocks slip amid Dubai, retail worries (AFP)

Traders work on the floor of the New York Stock Exchange, on November 16, in New York City. US stocks drifted lower Monday as Dubai debt crisis worries abated after the UAE central bank announced support for banks and traders weighed lackluster Black Friday weekend holiday retail sales.(AFP/Getty Images/File/Mario Tama)AFP – US stocks slipped Monday as Dubai debt crisis worries and lackluster Black Friday weekend holiday retail sales kept traders cautious.


No Country for Old Risk Models
Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology. By Penny Crosman

Challenges in OTC Equity Swaps Processing
With the Fed deadlines coming up for electronic confirmation, sell-side firms are scrambling to streamline the processing of equity swaps.

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• Monday, November 30th, 2009

Thirty financial groups on systemic risk list
Thirty global financial institutions make up a list that regulators are earmarking for cross-border supervision exercises, including banks and insurance groups

Oil and gas chiefs win bonuses despite missing targets
Several oil and natural gas companies in the US and Europe boosted their chief executives’ remuneration last year, in spite of?often?missing?performance targets or other measures of investor value, data collected by the Financial Times show

Mereor Absolute Return Fund Picks GlobeOp as Fund Administrator
Merger and credit arbitrage fund cited GlobeOp’s middle- and back-office support, integrated reporting and SAS 70 certification as factors.

Investors Demand Hedge Fund Transparency
Institutional investors are already demanding more transparency from hedge funds. Not to be outdone, regulators are readying new rules for hedge fund reporting. By Greg MacSweeney

SEC watchdog eyes insider trading probe (Reuters)
Reuters – The internal watchdog for the U.S. Securities and Exchange Commission is probing whether enforcement staff “committed acts of negligence” in conducting an insider trading investigation.

No Country for Old Risk Models
Congress and taxpayers agree on one thing: Financial firms cannot continue to make large, risky bets and expect a government bailout. Survival in 2010 will hinge on more-effective risk management processes and technology. By Penny Crosman

FDIC Insurance Fund for Bank Deposits Turns Red
An increase in U.S. bank failures put the federal fund that guarantees consumer deposits in the red in the third quarter, a report released Tuesday said.

FTSE slides on Dubai worries (AFP)

The FTSE 100 reversed early gains to trade in negative territory as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai's debt crisis.(AFP/File/Ben Stansall)AFP – The FTSE 100 reversed early gains to trade in negative territory on Monday as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai’s debt crisis.


Capital Markets to Broaden Use of Hosted Software in 2010
Still-tight budgets and small IT staffs will drive Wall Street firms’ preference for renting software rather than buying it. By Penny Crosman

Social Networking Is Here to Stay
Social networking is changing the way consumers, investors and traders interact and share information. But all companies are struggling to show how the technology is actually adding to the bottom line. By Greg MacSweeney

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• Monday, November 30th, 2009

Stocks to Watch: Stocks in focus for Tuesday
Among the shares expected to see active trade are Staples, online video-game operator Shanda Interactive and carmakers such as Ford.


US stocks stage late comeback
US stocks turned positive in late trading after Dubai World sought to reassure investors over its future

Currencies: Dollar falls on day, month as Dubai threat cools
The dollar falls against major rivals as concerns ease over Dubai’s debt problems and a regional U.S. economic survey shows improvement, sparking more demand for higher-yielding currencies and commodities.


Short View: Getting technical
With fundamental factors sending mixed pictures, more traders may grasp for the cryptic clues on short-term market moves provided by technical analysis, says Aline van Duyn

Emerging Markets Report: Stocks in Dubai, Abu Dhabi tumble on debt worries
Stocks in Dubai and Abu Dhabi tumble on Monday, the first trading day since state-backed conglomerate Dubai World last week asks creditors for a standstill on its debt, triggering turbulence in global financial markets.


Canadian Markets: Canadian stocks lapse late, rise for month
Stocks post mild gains, overriding a smaller-than-forecast rebound in the Canadian economy, as banks and mining stocks pull the broader index higher.


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• Monday, November 30th, 2009

Magal Security Systems Reports its Financial Results for the Third Quarter 2009 and Nine Month Period Ended September 30, 2009
YAHUD, Israel, November 30 /PRNewswire-FirstCall/ — Magal Security Systems Ltd. (NASDAQ GMS: MAGS, TASE: MAGS) today announced its consolidated financial results for the three and nine month periods ended September 30, 2009.

China’s overdue credit-card debt up sharply
While China has the reputation in the West as a nation of frugal savers, a state-media report cites another sharp rise in overdue credit-card accounts, highlighting a downside to the country’s rapidly expanding economy.


New York Fed to expand reverse repo tests
The Federal Reserve Bank of New York announced, that it is expanding its testing of a key operational tool, designed to drain liquidity from the financial system – known as ‘reverse repos’.

AIG’s Taiwan deal faces political hurdles
Barriers to American International Group’s $2.2bn sale of Nan Shan Life Insurance highlight the difficulties faced by dealmakers working within the greater China region

Linktone Reports Unaudited Third Quarter 2009 Results
BEIJING, Nov. 30 /PRNewswire-Asia-FirstCall/ — Linktone Ltd. (Nasdaq: LTON), one of the leading providers of wireless interactive entertainment services to consumers in China, today announced its unaudited financial results for the third quarter ended September 30, 2009.

After Hours: Guess shares rise as outlook brightens
Guess stock jumps in late trading after the apparel retailer says earnings rose more than analysts forecast and raises its outlook for the current quarter.


GE reportedly strikes deal for Vivendi’s NBC stake
General Electric reportedly reaches a tentative agreement to buy partner Vivendi’s stake in NBC Universal for $5.8 billion.


Pixelplus Reports Financial Results for Fiscal Third Quarter 2009
SEOUL, South Korea, Nov. 30 /PRNewswire-FirstCall/ — Pixelplus Co., Ltd. (Pink Sheets: PXPLY), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today announced unaudited financial results for the third quarter of fiscal 2009, which ended on September 30, 2009.

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• Monday, November 30th, 2009

S&P holds 1,100 level ahead of Thanksgiving
Encouraging results from Tiffany added to the holiday cheer on Wall Street after the weak dollar lifted stocks

FTSE rises 0.30% at open (AFP)

The FTSE 100 reversed early gains to trade in negative territory as investors digested moves by the United Arab Emirates central bank to soothe worries over Dubai's debt crisis.(AFP/File/Ben Stansall)AFP – London’s benchmark FTSE 100 shares index advanced in opening trade on Monday, after sharp Asian gains across Asia, on easing worries about Dubai’s debt crisis, dealers said.


High-Frequency Trading Controversy Continues to Swirl
Regulators are scrutinizing the surge in high-frequency trading strategies, which account for more than 60 percent of equities executions by some estimates. Charges of unfair access likely will continue to drive the HFT controversy in 2010.

How the major stock indexes fared on Friday (AP)
AP – Stocks tumbled Friday as investors worried that a government-backed investment company in Dubai risked defaulting on $60 billion in debt. The fears ripped through world markets and served as a reminder of how fragile the financial system remains a year after it nearly collapsed.

UAE acts to shore up banking system and calm markets (AFP)

A foreign labourer pictured at the construction site of Dubai's Business Bay on November 27. The United Arab Emirates central bank has pumped more liquidity into its banking sector amid fears that local stock markets may plunge after debt-laden Dubai asked to suspend debt payments.(AFP/File/Karim Sahib)AFP – The United Arab Emirates central bank on Sunday pumped more liquidity into its banking sector amid fears that local stock markets may plunge after debt-laden Dubai asked to suspend debt payments.


Kingland to Use IBM Software in Wall Street Data Projects
In one scenario, Kingland and IBM software and unique identifiers could give a firm’s risk operation access to a comprehensive view of all enterprise holdings, clients, subsidiaries, and complex business relationships from across multiple lines of business.

FDIC Insurance Fund for Bank Deposits Turns Red
An increase in U.S. bank failures put the federal fund that guarantees consumer deposits in the red in the third quarter, a report released Tuesday said.

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• Monday, November 30th, 2009

3 Stocks That Blew the Market Away
Beat the market, and the world will beat a path to your door.  


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• Monday, November 30th, 2009

Wall Street braces for Dubai debt fallout, jobs data (AFP)

Traders work the floor at the New York Stock Exchange. Wall Street braced for repercussions of the Dubai debt crisis to unfold and for looming key economic data, after winding down a turbulent holiday-shortened week.(AFP/Getty Images/Michael Nagle)AFP – Wall Street braced for repercussions of the Dubai debt crisis to unfold and for looming key economic data, after winding down a turbulent holiday-shortened week.


US stocks dip amid Dubai, retail worries (AFP)

Traders work on the floor of the New York Stock Exchange, on November 16, in New York City. US stocks drifted lower Monday as Dubai debt crisis worries abated after the UAE central bank announced support for banks and traders weighed lackluster Black Friday weekend holiday retail sales.(AFP/Getty Images/File/Mario Tama)AFP – US stocks drifted lower Monday as Dubai debt crisis worries abated after the UAE central bank announced support for banks and traders weighed lackluster Black Friday weekend holiday retail sales.


NYSE Euronext completes $144M acquisition of NYFIX (AP)
AP – NYSE Euronext, which operates the New York Stock Exchange and other trading venues, on Monday said it completed its acquisition of trading technology provider NYFIX Inc.

New Tools For Tracking Mutual Funds (Investor’s Business Daily)
Investor’s Business Daily – Firms that track mutual funds are always looking for innovation — new ways to crystal-ball a fund’s prospects for outperformance.

Stocks slip on concerns about holiday spending (Reuters)

Signs can be seen above the floor of the New York Stock Exchange, April 9, 2009. REUTERS/Lucas JacksonReuters – U.S. stocks declined moderately on Monday as weak data on holiday retail sales prompted questions about the consumer’s ability to spend.


Stocks drop on holiday spending worry
NEW YORK (Reuters) – U.S. stocks fell on Monday as investors worried that the holiday shopping season might have gotten off to a tepid start as consumers trimmed purchases over the Thanksgiving Day holiday amid concerns about an uncertain economy.

Dubai and Abu Dhabi markets plunge on debt woes (AFP)

A man follows market movements at the Dubai Financial Market. Stock markets in Dubai and neighbouring Abu Dhabi have closed sharply lower, shedding 7.3 percent and 8.3 percent respectively, hit by a lack of buyers after Dubai World's shock proposal to suspend debt payments.(AFP/Karim Sahib)AFP – Stock markets in Dubai and neighbouring Abu Dhabi closed sharply lower on Monday, shedding 7.3 percent and 8.3 percent respectively, hit by a lack of buyers after Dubai World’s shock proposal to suspend debt payments.


U.S. regional manufacturing recovers, consumers wary
NEW YORK (Reuters) – Manufacturing in parts of the United States was picking up steam, data showed on Monday, but jobs were lagging the recovery and consumers remained cautious, economists said.

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• Sunday, November 29th, 2009

Bloomberg Enhances CMBS Tools
Blooomberg has introduced new capabilities that allow users to view more information around an issue based on detailed economic and interest rate conditions.

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