Mr. Bearbull - Greenspan predicts long recession
Posted on May 13, 2008 - Filed Under MR. BEARBULL
Despite setbacks in the past few days, the US stock market’s three major indices are within striking distance of crossing the 200-day moving average on the upside. Personally, I don’t think that is important, but many technical analysts do. The main index crossed the 50-day average about two months ago but it is backing away from a slowly declining 200-day moving average. Almost all the second-quarter results are known and non-financials have done better than financial analysts had expected. Read more
Buy, collect, earn
Posted on May 12, 2008 - Filed Under STOCKS 101
A LOT of people have hobbies or obsessions that lead to collecting stuff. But are you aware that some of your little “treasures” might already be worth more now than what you originally paid for them?
While not everybody can afford to collect and invest heavily on vintage cars, real estate properties, or Lladro figurines, there are inexpensive things everybody can earn from – with the help of the passing of time. Read more
Foreign direct investments up 46% to $194M in February
Posted on May 12, 2008 - Filed Under NEWSLETTERS
The Philippines recorded net foreign direct investments (FDI) of $194 million in February, 46 percent higher than the preceding month’s net inflow, central bank data showed Monday.
But the figure was much smaller than the net inflow of $1.17 billion recorded in the same month last year.
For the first two months of the year, net inflows reached $327 million. Read more
P42-45 to $1 in next 2 years, says Philippine central bank
Posted on May 12, 2008 - Filed Under NEWSLETTERS
The Bangko Sentral ng Pilipinas (the Philippine central bank) has revised its assumption on the peso-dollar exchange rate for this year and the next to a range of 42 to 45 to $1 given the more volatile external market conditions caused by the global downturn.
The latest assumption, which was presented to the policy-making Monetary Board during its meeting Thursday last week, was a weaker peso range against the dollar from the old assumption of 40-43. Read more
San Miguel plans separate IPOs for packaging, food units
Posted on May 12, 2008 - Filed Under IPO
Food and beverage conglomerate San Miguel Corp. is planning to pursue separate listings for its packaging and food businesses, company president Ramon Ang said Monday.”We will do it (listing) as soon as we are able to comply with the reportorial requirements,” Ang told reporters during the listing ceremonies for the company’s beer unit, San Miguel Brewery Inc. (SMBI). Read more
Gokongweis, JP Morgan eye Petron stake
Posted on May 8, 2008 - Filed Under COMPANIES
A local business family, the Gokongweis, and JP Morgan have expressed interest in buying a 40-percent stake owned by Saudi Aramco in oil refiner and retailer Petron Corp., Energy Secretary Angelo Reyes said Wednesday.
Aramco has received an offer of $550 million from London-based investment fund Ashmore Group for the stake, but the government’s Philippine National Oil Co. (PNOC), which also owns a 40-percent stake in Petron, has right of first refusal. Read more
Mr. Bearbull - Stock index awaits inflation figures
Posted on May 6, 2008 - Filed Under MR. BEARBULL
The news from the US was better than expected and their indices have been rising steadily. The Dow is back above 13,000 and the S&P 500 index is above 1,400. As expected, Federal Reserve Chairman Ben Bernanke made a small cut of a quarter-point to 2.00 percent and said he would keep his pause off interest rates. That does not mean that he cannot reduce them later but for the time being, he has done enough. Two members of the Fed voted against the cut. Read more
Mr. Bearbull - Stock index sinks to new low
Posted on April 29, 2008 - Filed Under MR. BEARBULL
The dividend season started in earnest in the US. As expected, financial companies did badly but non-financials did fairly well with some good results and some disappointing. There are still two weeks to go, after which we will have more than 90 percent of the S&P 500-listed companies. Bank of America announced first-quarter profits down 77 percent from $1.16 to 23 cents, far below expectations. In Switzerland, Credit Suisse lost $2.1 billion, four times greater than predicted by analysts. The shares plunged 23 percent, and there will be 1,320 layoffs. National Australia Bank and Mizuho Financial fell on the news. There were some good financial results, including those of Caterpillar, Texas Instruments, McDonalds, Apple, Microsoft, and to some extent Yahoo. Read more
Mr. Bearbull - PSE index languishes as Wall St rises
Posted on April 26, 2008 - Filed Under MR. BEARBULL, Uncategorized
Wall Street had a strong recovery despite bad news from banks and mixed news from industrials. The worst results were announced by Citigroup, which wrote off another $5 billion and further job cuts of 9,000 in addition to the 4,200 already announced. Wachovia’s earnings per share plummeted from $1.20 to $0.20; the company cut its dividend and said it was raising $7 billion through a share sale to maintain its capital adequacy ratio. The stock dropped eight percent, and the Federal Reserve said, “We will ‘watch over ya.” Bear Stearns profits plunged 79 percent from $548 million to $110 million and the shares traded at $10, compared with $150 a year ago. JPMorgan intends to lay off 4,500 office workers. Read more
There’s no rice shortage!
Posted on April 11, 2008 - Filed Under MARKET WATCH by NT16
People may be shocked if I say “there’s no rice shortage.” Read more
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