Category Archive: Finance
“Art Of The Deal” Says Dril-Quip Is 15% Overvalued
Ever since oil prices fell from their Q2 2014 peak I have been predicting Dril-Quip’s DRQ demise. Offshore E&P has dried up and it will eventually hurt the company’s top line. The company generates 69% of its revenue from subsea equipment sales. Q4 revenue from that segment was flat sequentially after having fallen 13% in […]
Here Comes The Big Flush—Recession Pending, Fed ‘Put’ Ending
Talk about sheep being led to the slaughter. The S&P 500 is up 11% from its February 11th intra-day low (1812) because Wall Street still has inventory to unload. That much is par for the course. Yet the signs of an impending macroeconomic and profits implosion are now so overwhelming that it is truly remarkable that there are any bids left […]
EURUSD: Hesitates Ahead Of Key Support
EURUSD: Having EURUSD continued to hold on to its broader correction, a move higher is envisaged despite its pullback attempts. Support lies at the 1.1100 level. Further down, support lies at the 1.1050 level where a violation will aim at the 1.1000 level. A break of here will aim at the 1.0950 level. Conversely, on […]
Apollo To Pay $1.36B For The Fresh Market, Haggen Set To Offload Stores
Apollo Global Management has entered into a definitive agreement to acquire specialty grocery retailer The Fresh Market (NASDAQ: TFM) for about $1.36 billion in cash. The purchase price of $28.50 per share represents approximate premiums of 24% over The Fresh Market’s closing share price on March 11 and 53% over its price on February 10, the day before speculation […]
The Children’s Place – Chart Of The Day
The Chart of the Day belongs to The Children’s Place (Nasdaq: PLCE). I found the children’s clothing and accessory retailer by using Barchart to sort today’s All Time High list first for the highest number of new highs in the last month, then again for technical buy signals of 80% or better. Next I used the Flipchart feature to review the charts. […]
Gold Daily And Silver Weekly Charts – The Vulture
The precious metal markets appear to be seriously interested in what the FOMC has to say tomorrow afternoon around 2 PM EDT. In fairness to Mr. Rubio, in reference to the video with Greg Palast below, almost all of the mainstream candidates have some ‘vulture’ perched on their shoulders. The only thing that is new […]
Bubble Cycle Inefficiency And Valuations
Last week the Federal Reserve updated its quarterly Financial Accounts of the United States Z1 (formerly Flow of Funds) meaning that we can recheck valuation levels of the stock bubble from alternate points of view (data). The most common valuation given by the report is Tobin’s Q which compares the estimated value of corporate equities (liability) to nonfinancial […]
S&P 500 Snapshot: More Doldrums Before The Fed Meeting
Global equities were in retreat mode when the U.S. market opened. The S&P 500 followed the global pattern, falling to its -0.71% intraday low about 30 minutes later. The index then traded in a narrow range but drifted slowly higher after the lunch hour. It closed at its -0.18% intraday high. Yesterday had the distinction […]
AmTrust Announces Closing Of $125 Million In Depositary Shares Representing Interests In Preferred Stock
NEW YORK, March 15, 2016 (GLOBE NEWSWIRE) – AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the “Company” or “AmTrust”) today announced that it has closed its previously announced underwritten public offering of 5,000,000 of its depositary shares (the “Depositary Shares”), each representing a 1/40thinterest in a share of its newly-designated 7.75% Non-Cumulative Preferred Stock, Series E, at […]
Citi Joins Peers In Downgrading Tiffany & Co. On Pessimism About Near-Term Trends
Shares of Tiffany (TIF) are sliding after Citi downgraded the stock to Neutral, as the firm doesn’t believe the jeweler’s near-term business trends will improve. Analysts at Cowen and Goldman Sachs also had previously downgraded the stock after the company reported holiday sales well below expectations. TRENDS UNLIKELY TO IMPROVE: Citi analyst Paul Lejuez downgraded […]
