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May 25, 2012
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May 24, 2012
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| theflyonthewall.com: | Jim Cramer's "Mad Money" | | According to Jim Cramer, markets appear rigged, and the only losers appear to be the shareholders. Cramer questions....Was the Facebook (FB) IPO fair? With news that Morgan Stanley (MS) may have alerted some of its biggest customers about slowing growth at the company, it appears not. Were investors at J.P. Morgan Chase (JPM) misled by CEO Jamie Dimon, who repeatedly said things were going great even though the company was in the process of losing $5B? It appears so, Cramer says. Cramer said it gets even worse: Both Morgan Stanley and J.P. Morgan will use shareholder money to investigate and defend themselves against any wrongdoing -- and to pay the fines, too. Cramer said companies get away with stunts like this because the system is broken and Washington isn't doing anything to fix it. Cramer said the bad apples on Wall Street must pay for their actions, and that will only happen if the government starts targeting them directly. Next, Cramer wasn't done with suggestions for J.C. Penney (JCP) CEO Ron Johnson on how to revive the ailing retailer. After comparing J.C. Penney's turnaround attempt to that of Pier 1 Imports (PIR) on Monday, Cramer then compared Penney to the turnaround in Chico's FAS (CHS). Chico's reshuffled its merchandise and took the rare step of raising prices in order to attract its core, older customers while shunning a younger demographic. This strategy worked. Chico's reported a 21% pop in yoy revenue with a 9.6% increase in same store sales. Cramer concluded. J.C. Penney needs to stop pandering to Wall Street and get to work on the almost impossible task of a retail turnaround. Investors need to play defense with their portfolios, Cramer told viewers. That means high-quality domestic companies with no exposure to the trials and tribulations of Europe and a juicy dividend yield. B&G Foods (BGS) is one such company. It has the unique talent of being able to reinvigorate brands. In an environment where commodity costs are falling, Cramer said that B&G, with its excellent balance sheet and great gross margins, is in a terrific position to surprise Wall Street. Shares trade at just 15x earnings and the company has a 12% long-term growth rate. SELL BLOCK: Cramer highlighted several stocks that investors need to avoid at all costs. Best Buy (BBY) has a broken business model. First Solar (FSLR) government subsidies are drying up quick. Cramer also put three stocks in the penalty box, saying investors need to wait at least one quarter before pulling the trigger. He said Mako Surgical (MAKO) stumbled in its last quarter, so he needs to see whether bigger problems exist. The same applies to Deckers Outdoor (DECK) where the company's Ugg boots may or may not be making a comeback. Finally, Cramer thinks Fossil (FOSL), which is levered to Europe, is another wait-and-see situation. In a special interview, Cramer sat down with CNBC colleague David Faber to discuss Faber's latest documentary on J. Crew (JCG) CEO Millard Drexler, which debuts Thursday evening. Faber said Drexler, while unknown to many, is one of the greatest retailers of our generation. He said Drexler's work turning around Gap (GPS) would have been noteworthy enough, but Drexler has continued to innovate and succeed in the cut-throat retail world. LIGHTNING ROUND: (Bullish) V; KOG ; EA. (Bearish) GLW; FB; TVIX; GME; C. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Citigroup to sell stake in Akbank worth about $1.27B, Bloomberg reports | | :theflyonthewall.com |
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May 23, 2012
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| theflyonthewall.com: | Facebook, banks sued by shareholders, Reuters says | | A group of Facebook (FB) shareholders have filed a lawsuit against the social networking giant, its CEO Mark Zuckerberg, and several banks led by Morgan Stanley (MS), according to Reuters. The plaintiffs are alleging that the defendants hid Facebook's reduced growth outlook ahead of the IPO, the news service explains. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | CFTC probing JP Morgan's losses, Washington Post reports | | The Commodity Futures Trading Commission, or CFTC, is probing JP Morgan's (JPM) recent investment losses, the commission's chairman, Gary Gensler, said yesterday, according to The Washington Post. Gensler said that the losses "strongly suggest" that foreign affiliates of U.S. financial firms shouldn't be exempted from new derivative regulations, the newspaper added. Reference Link :theflyonthewall.com |
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May 22, 2012
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| theflyonthewall.com: | U.S allows China to go around Wall Street to buy government debt, Reuters says | | China can now bypass Wall Street when buying U.S. government debt and go directly to the U.S. Treasury, in what is the Treasury's first direct relationship with a foreign government, according to documents seen by Reuters. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | NY regulators investigating mortgage insurers' payments to banks, NY Times says | | New York State regulators are probing whether two insurance companies- Assurant (AIZ) and QBE Insurance - made improper payments to banks in order to obtain a dominant position in a type of mortgage insurance called force-placed insurance, according to The New York Times. Reference Link :theflyonthewall.com |
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May 21, 2012
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| theflyonthewall.com: | Investors can't get enough of U.S. Treasurys, WSJ reports | | Investors in U.S. Treasurys have a good chance of losing money over time, yet they can't seem to get enough of them as Treasury prices move higher and yields fall to near-record lows, reports the Wall Street Journal.Reference Link :theflyonthewall.com |
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May 18, 2012
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May 17, 2012
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| theflyonthewall.com: | White House seeks to toughen bank rules, WSJ reports | | Following the losses at J.P. Morgan Chase (JPM), the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, sources say, reports the Wall Street Journal. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Fitch: World's largest banks must raise $566B, NY Times says | | The world's 29 systemically important banks must raise a combined $566B in order to meet new capital requirements, Fitch Ratings said today, according to The New York Times. The figure represents a 23% increase over what the banks currently hold in reserve, the newspaper added. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | U.S. foreclosure filings fall to five year low, Bloomberg reports | | In April, foreclosure filings in the U.S. fell to a five year low as lenders sought to avoid seizing property and a housing recovery showed signs of taking hold, reports Bloomberg. The number of default, auction and seizure notices sent to homeowners last month was 188,780, down 14% from a year ago and 5% from March, according to RealtyTrac Inc. Reference Link :theflyonthewall.com |
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May 16, 2012
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| theflyonthewall.com: | FieldPoint Petroleum increases borrowing base from Citibank to $11.0M | | FieldPoint Petroleum's (FPP) borrowing base available to the company under its bank line of credit has been increased to $11.0M. This increase was approved following a routine year-end engineering review of the line by Citibank (C). :theflyonthewall.com |
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May 15, 2012
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| theflyonthewall.com: | Citigroup April credit-card write-offs 5.93% vs. 4.79% last month | | :theflyonthewall.com |
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| theflyonthewall.com: | President Obama: Wall Street needs reform, Reuters reports | | President Obama said the trading loss at JPMorgan Chase & Co. (JPM) illustrated the need for Wall Street reform and warned that the same kind of error at a less stable bank may have required government intervention, reports Reuters. Reference Link :theflyonthewall.com |
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May 14, 2012
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| theflyonthewall.com: | American Financial Services Association to host a conference | | 22nd AFSA Finance Industry Conference for Fixed Income Investors is being held in Boston on May 14-16. :theflyonthewall.com |
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| theflyonthewall.com: | Italy's market watchdog: Ban some financial products, Reuters reports | | Authorities must regulate and even ban financial products that can wipe out people's savings, says Giuseppe Vegas, chairman of Italy's market watchdog Consob, following JP Morgan's (JPM) $2B trading loss due to a failed hedging strategy, reports Reuters. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Not just U.S. but global regulators likely to react to JPMorgan events, FT says |
 Subscribe for More Information :theflyonthewall.com |
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May 11, 2012
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| theflyonthewall.com: | Citigroup volatility low as shares trend to three-month low | | Citigroup overall option implied volatility of 39 is below its 26-week average of 43 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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