I am not gonna tell you GS upgraded AMZN. Not that's not interesting.
Here's what I found:
1. FRE is $2.15 under FNM from $3.50 under some days ago. Noticeable improvement, but will it FINALLY revert. Thinking yet another swap trade.
2. The splash on AMZN and continued discussion about where to spend the 'bate check (rebate, not m-bate) is driving Overstock (OSTK) up very nicely, regardless of traffic per Alexa.com. Will it pierce $35-40 range where it was the last peak?
3. COF is finally up! Thank you pig man for listening on my suggestion on how to "convince" people that this shit is for real, dawg. Yes, there are people voting there is a way to pay for the Tiffanies and Ipods when the statement comes due. Excellent.
4. More news on how cool inflation is for basic material and food processing:
By Duane D. Stanford
May 19 (Bloomberg) -- Campbell Soup Co., the world's
largest soupmaker, fell the most in 5 1/2 years in New York
trading after it posted third-quarter profit and revenue that
trailed analysts' estimates on a decline in U.S. soup sales.
Campbell dropped $1.95, or 5.4 percent, to $34 at 10:32
a.m. in New York Stock Exchange composite trading, the biggest
decrease since November 2002. The shares gained less than 1
percent this year before today.
Condensed soups and ready-to-serve brands Chunky and
Select fell 3 percent in the U.S. as customers bought General
Mills' Progresso brand. Higher prices weren't enough to counter
what Campbell called ``dramatic cost inflation'' for wheat and energy. Chief Executive Officer Douglas Conant has added lower- sodium soups and will enhance marketing to boost sales growth.
``They are losing market share to Progresso and private
label, particularly in the ready-to-serve segment,''
Christopher Growe, an analyst with Stifel Nicolaus & Co. in St.
Louis, said today in a telephone interview. ``Campbell raised
prices, and the competitors have not yet.'' He recommends
investors hold the shares."
5. Look what I just found, as if a footnote is necessary for the Campbell soup story:
By Michael Patterson
May 19 (Bloomberg) -- Most U.S. stocks fell after SanDisk Corp. said high energy prices have hurt sales, spoiling a rally in technology shares that helped propel the market to a four-month high earlier.
SanDisk, the largest maker of digital-camera memory cards, tumbled the most since March after saying April retail sales were ``soft.'' Campbell Soup Co., the world's biggest soup company, posted its biggest drop in five years after results trailed analysts' estimates.
About four stocks retreated for every three that rose on the New York Stock Exchange. The Standard & Poor's 500 Index lost 1.23 points, or 0.1 percent, to 1,424.12 at 3:38 p.m. in New York. The Dow Jones Industrial Average increased 23.69, or 0.2 percent, to 13,010.49. The Nasdaq slipped 16.87, or 0.7 percent, to 2,511.98.
FRE is $2.00 under FNM as I wrote this last bit.
The right enemy
5 years ago