Thursday, February 21, 2008
Broker connected to Societe Generale's Kerviel questioned by judges - Forbes.com
Broker connected to Societe Generale's Kerviel questioned by judges - Forbes.com
PARIS (Thomson Financial) - The Fimat broker, who was in touch with Societe Generale rogue trader Jerome Kerviel, was interviewed for three hours this morning by judges, according to a source close to the matter.
Brokerage unit Newedge, was formerly known as Fimat, but last month renamed as Newedge after merging with Credit Agricole's brokerage operations.
Judges Renaud van Ruymbeke and Francoise Desset questioned him on his links with Kerviel and notably on his instant messaging conversations with the trader.
Around 1,600 pages of these messages, dating from between September 2007 and January 2008 have been seized by financial investigators.
Health_and_Healing : Message: Vaccines and Medical Experiments on Children, Minorities
Health_and_Healing : Message: Vaccines and Medical Experiments on Children, Minorities
snips from a huge article
n response to the BBC documentary and article "Guinea Pig Kids", the New York City Administration of Children's Services (ACS) sends out an Apr. 22 press release admitting that foster care children were used in experimental AIDS drug trials, but says that the last trial took place in 2001 and thus the trials are not continuing, as BBC reporter Jamie Doran claims. The ACS gives the extent and statistics of the experimental drug trials, based on its own records, and contracts the Vera Institute of Justice to conduct "an independent review of ACS policy and practice regarding the enrollment of HIV-positive children in foster care in clinical drug trials during the late 1980s and 1990s" (New York City ACS).
Bloomberg releases a series of reports suggesting that SFBC, the largest experimental drug testing center of its time, exploits immigrant and other low-income test subjects and runs tests with limited credibility due to violations of both the FDA's and SFBC's own testing guidelines
Merck begins pushing U.S. states to mandate the vaccination of teenage girls with Gardasil, a vaccine they claim prevents HPV, a sexually-transmitted virus. In February 2007, Texas Gov. Rick Perry -- who was revealed to have financial ties with Merck, the vaccine manufacturer -- mandates the vaccine in teenage girls (see http://www.newstarget.com/021572.html ). A key Merck lobbyist named Mike Toomey, it turned out, had served as Gov. Rick Perry's chief of staff.
The Texas decision to mandate the vaccine was a notable and troubling milestone in public health policy because it is the first time a vaccine is mandated for a disease that cannot be contracted through casual contact in public schools. It also invoked "gunpoint medicine," or the threat of arrest at gunpoint for not agreeing to receive state-mandated injections.
The Gardasil vaccinations remain a grand medical experiment being performed on children because it is not yet known what the long-term side effects of the vaccination will be, nor whether the vaccinations will actually lower rates of cervical cancer as intended.
YouTube - st0ckman's Channel
YouTube - st0ckman's Channel
opening bell 930
sorry for the delay but mccain was on during the normal 9am pre market info
Oil Drops On Pickens' Comment--But Other Commodities Rise - Trader Talk with Bob Pisani - CNBC.com
Pre Market - Trader Talk with Bob Pisani - CNBC.com
Oil Drops On Pickens' Comment--But Other Commodities Rise
Posted By:Bob Pisani
Topics:Earnings | Commodities | Investment Strategy | Stock Market
Companies:Research in Motion Limited
Oil dropped about $0.60 after Boone Pickens said that he was short oil on our air. Natural gas also dropped, as he said he was short that also.
However, gold, platinum, and palladium are once again at new highs this morning, and it's not just those: soybeans, steel, freight, iron ore, coal, are all at highs. Base metals like copper and zinc are strong as well. While materials stocks are up a bit this month, none of them are anywhere near new highs. There seems to be some kind of decoupling going on between commodities and the stocks.
JC Penney [JCP 49.39 
1.44 (+3%) 
] beat their earnings expectations, though comp store sales decreased 2.3 percent. Guidance is so-so, the range for the quarter and the full year is just below analyst expectations; comp store sales projected to decline for the year. Remember, yesterday launched a whole new line, American Living--co-developed with Polo Ralph Lauren. See Margaret Brennan's Retail Detail post on this.
They didn't say for how much, but they did say it would be at a "substantial premium" to the close of $10.18 a share. Up 16 percent pre-open.
Research in Motion [RIMM 107.99 10.08 (+10.3%) ] up 10 percent pre-open, they said net subscriber additions would be 15 to 20 percent higher previously forecast. They affirmed their forecast.
Steel giant Arcelor Mittal said they were raising prices; so is everyone else in the commodity world, it seems.
Political, Economic & Financial Intelligence
Al Martin Raw: Political, Economic & Financial Intelligence
(2-18-08) Last week the marketplace revealed yet another consequence of Bushonomics, namely, that the municipal bond market (which we have been warning people to get out of) began to unravel in earnest as liquidity in the municipal bond market simply dried up.
By Wednesday’s session, we saw that three out of five municipal bond auctions were simply being cancelled due to lack of bids. In the daily municipal cash market where states, counties, municipalities have to turn to if they are unable to rollover securities, we saw that some districts, including the Port Authority of New York and New Jersey, were forced to pay as high as 20% for money last Thursday.
We also saw on Thursday in cash-market municipal borrowing that a wide variety of the nation’s counties, ranging from Harris County, Texas, to Bergen County, New Jersey, had to pay between 9% and 11% for money. This is an increase from 4% for money the week before – yet another ominous sign of the diabolical efficiency of Bushonomics.
NYSE Arca Morning Update
NYSE Arca Morning Update for Thursday, Feb 21, 2008 :
Stocks trading on NYSE Arca at a price more than 15% away from the previous trade day's consolidated close price. (As of 08:30:00 ET)
Stock | Wednesday's Close | Current Price | Pct Chng | Current NYSE Arca Vol |
|---|---|---|---|---|
CPS | $33.65 | $48.20 | 43% | 89,150 |
VDSI | $18.28 | $12.61 | ( 31%) | 46,431 |
SSRX | $11.70 | $8.90 | ( 24%) | 1,300 |
NVTL | $13.83 | $11.05 | ( 20%) | 8,300 |
NEON | $3.28 | $3.87 | 18% | 1,000 |
10 Most Active stocks on NYSE Arca as of 08:30:00 ET
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Pre-Market Most Active Stocks - NASDAQ Premarket
Pre-Market Most Active Stocks - NASDAQ Premarket
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Gapping up:
CPS +44.7%, BCSI +12.6%, LOCM +9.8%, RIMM +8.3%, NTES +8.2%, ARII +7.6%, ANSS +7.0%, ITRI +7.0%, TEX +6.4%, SNPS +6.4%, IFSIA +6.0%, GFI +5.7%, SQNM +5.2%, GA +4.7%, CPST +4.5%, ACH +4.1%, IVAC +3.9%, ADI +3.9%, PQ +3.8%, TQNT +2.7%, GRMN +2.7%, CSCO +2.6%, BHP +2.6%, RTP +2.4%, MRVL +1.9%, TRN +1.9%, RIG +1.4%...
Gapping down:
CTCT -29.9%, ANDS -27.2%, SSRX -23.2%, LAD -18.3%, NVTL -17.8%, MSSR -13.5%, CECO -7.1%, VRGY -6.9%, PSYS -6.9%, LNET -6.9%, MCRI -6.5%, OII -6.3%, DDSS -5.6%, LFG -3.1%, GW -2.3%.
24/7 Wall St.
Top 10 Pre-Market Analyst Calls (AEM, MDRX, BP, CSCO, ENR, GRMN, SHW, STI, TGT, RIG)
These are the early bird analyst calls we are focusing on this Thursday morning at 247WallSt.com:
- Agnico-Eagle Mines Ltd. (NYSE: AEM) cut to Neutral at UBS.
- Allscripts (NASDAQ: MDRX) raised to Buy from Neutral at UBS.
- BP (NYSE: BP) downgraded to Sell from Hold at Citigroup.
- Cisco Systems (NASDAQ: CSCO) raised to Buy from Hold at Citigroup.
- Energizer (NYSE: ENR) raised to Buy from Hold at Citigroup.
- Garmin (NASDAQ: GRMN) raised to Outperform at Baird.
- Sherwin Williams (NYSE: SHW) raised to Overweight from Neutral at JPMorgan.
- SunTrust (NYSE: STI) cut to Underperform at Oppenheimer.
- Target (NYSE: TGT) downgraded to Sell from Hold at Citigroup.
- Transocean (NYSE: RIG) raised to Buy at Goldman Sachs.
U.S. futures gain; Cisco, RIM and ChoicePoint poised to rise - MarketWatch
U.S. futures gain; Cisco, RIM and ChoicePoint poised to rise - MarketWatch
The dollar traded broadly flat against the euro and Japan's yen, while crude oil hovered close to $100 a barrel, with the April light-crude contract down 8 cents at $99.62.
Cisco (CSCO:
CSCO
) was upgraded to buy from hold at Citigroup, sending its Frankfurt-traded shares up 2.6%. Also likely to draw scrutiny, handheld device supplier Research In Motion (RIMM:
RIMM
) said it expects net subscriber account additions in the fourth quarter to be 15% to 20% higher than the 1.82 million additions it had previously forecast. An expected seasonal slowdown in sales didn't materialize, the company said. The bond-insurance sector will be back in focus as well. MBIA (MBI:
MBI
) spurned a plan put forth by hedge-fund manager Bill Ackman to split up struggling insurers, saying it's mainly designed to boost Ackman's negative bets against itself and rival Ambac Financial Group (ABK:ABK
) . See full story. In deal news, ChoicePoint Inc. (CPS:
CPS
) has agreed to be bought by U.K. publishing group Reed Elsevier (RUK:RUK
) for $4.1 billion, including $600 million of assumed debt. The $50-a-share deal represents a 49% premium to Wednesday's closing price for ChoicePoint. Among companies due to report financial results, supermarket operator Safeway (SWY:
SWY
) is expected to report fourth-quarter earnings of 68 cents a share and department-store chain J.C. Penney (JCP:JCP
) is forecast to have earned $1.74 a share in the quarter. Late Wednesday, Analog Devices (ADI:
Asian markets rose overnight, helped by Wall Street's gains in the previous session. European stocks were also trading higher, with the U.K.'s FTSE 100 index adding 1.7% in mid-morning trading.ADI
) said first-quarter profit more than doubled to $370.7 million from $153.2 million due to gains from the sale of two businesses. Pre-Market: Stock Trading Before the Markets Open from CNNMoney
Pre-Market: Stock Trading Before the Markets Open from CNNMoney
| Feb 21 7:44am† | Change | %Change | Level | |
|---|---|---|---|---|
 | ||||
 |  FTSE 100 | +96.30 | +1.63% | 5,989.90 |
|  XETRA-DAX | +93.02 | +1.35% | 6,992.70 |
|  CAC 40 | +67.57 | +1.40% | 4,880.38 |
 |  HANG SENG | +32.42 | +0.14% | 23,623.00 |
|  NIKKEI 225 | +377.91 | +2.84% | 13,688.28 |
| ||||
| U.S. Dollar vs Euro | +0.0018 | +0.12% | 1.4730 | |
| U.S. Dollar vs Yen | +0.1000 | +0.09% | 0.0092 | |
| U.S. Dollar vs UK £ | +0.02 | +0.79% | ||
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