Author Archive: Jeremy Parkinson
Return Of Bond Market Stability Pushes Equity Futures Higher
Following yesterday’s turbulent bond trading session, where the volatility after the worst Bid to Cover in a Japanese bond auction since 2009 spread to Europe and sent Bund yields soaring again, in the process “turmoiling” equities, today’s session has been a peaceful slumber barely interrupted by a “better than expected” Italian and German Bund auction, […]
Morning Call For May 13, 2015
OVERNIGHT MARKETS AND NEWS June E-mini S&Ps (ESM15 +0.25%) this morning are up +0.27% and European stocks are up +0.85% after global bond markets rallied and after Eurozone Q1 GDP expanded as expected. The British pound fell back from a 4-3/4 month high against the dollar after the BOE cut its 2015 UK GDP forecast […]
Wednesday Pre-Market Insights: GEVO, WPZ, HDP, PTIE
Gevo, Inc. (NASDAQ:GEVO) shares are up more than 21% in pre-market trading to $5.68 after the renewable chemicals and advanced biofuels company reported 1Q15 results. Gevo posted quarterly revenue of $5.9 million, a significant increase from $0.9 million in the same quarter of last year. The report also highlighted a recent renewable jet fuel agreement […]
Inside New Leveraged REIT ETN Issued By UBS
ETRACS, the fund brand of UBS, has already made a name for itself in rolling out high yield leveraged products. To carry on its success story, the issuer recently launched a new leveraged ETF targeting the U.S. REIT sector. The fund trades in the name of ETRACS Monthly Pay 2xLeveraged MSCI US REIT Index ETN (LRET – ETF report). […]
First-Quarter REIT Underdog Update
In January I wrote an article on CorEnergy (NYSE:CORR) and I described the company as my “2015 REIT Underdog”. Earlier this week the company announced its first-quarter results, so I decided that I would provide an update on the Energy Infrastructure REIT. Before beginning, I will remind you that CORR generates revenue by leasing infrastructure assets, or offering loans […]
Continued Weak Consumer Spending “Puzzles” BofA
BofAML’s Michelle Meyer is “puzzled” at why the U.S. consumer is not the spendaholic her textbooks said they should be by now… A setback after the bounce in March Based on BAC (BAC) internal data, which tracks spending on credit and debit cards, consumer spending slowed in April. Retail sales ex-autos declined 0.1% mom seasonally adjusted […]
Real Estate ETF Momentum Has Shifted Overseas
The proliferation of publicly traded real estate investment trusts (or REITs) has created access to a global menu of high dividend paying securities. REITs function by generating income from rents and property development that is ultimately passed on to shareholders in the form of dividends. This creates a highly coveted asset class for income oriented […]
J.P.Morgan And Canaccord Genuity Are Confident That Vertex Pharmaceuticals Incorporated’s CF Drug Will Receive FDA Approval
On May 12, the FDA advisory committee recommended that the FDA approve Vertex Pharmaceuticals’ (NASDAQ: VRTX) Orkambi therapy to treat cystic fibrosis. Shares of Vertex increased nearly 8% in pre-market trading following the announcement. The FDA advisory committee provides the FDA with independent sources verifying the safety and efficacy of the new therapies. The FDA has […]
Zillow (Z) Q1 Loss Wider Than Expected; Revenues Fall Short
Zillow Inc. (Z – Snapshot Report) reported first-quarter fiscal 2015 adjusted loss per share (excluding all one-time items but including stock based compensation expenses) of 42 cents, wider than the Zacks Consensus Estimate of a loss of 38 cents. Adjusted loss also widened from the year-ago loss of 16 cents per share. Zillow Inc. – Earnings Surprise | […]
Macro Markets Risk Index: U.S. Trend Steady At Moderate Pace
Macro Markets Risk Index: US Trend Steady At Moderate Pace The US economic trend remains moderately positive as of early May, based on a markets-based estimate of macro conditions. The Macro-Markets Risk Index (MMRI) closed at +6.7% yesterday (May 12), a middling value relative to the benchmark’s range for the year so far. The moderately […]
