Tag Archives: AAMRQ.PK

Wall Street Breakfast: Must-Know News

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Oil sells off again. For the first time in nine months, the price of a barrel of Brent crude oil fell below the $100 level in London trading earlier today. The number of investors holding net long positions now stands at a one-year low. Later this week, data on oil stockpiles in the U.S. could pressure the market even further.

Italian prosecutors move in Banca Monte case. Italian judges order more than €1.8B ($2.4B) of assets seized as part of a probe into the dealings of Banca Monte dei Paschi. The funds seized included commissions earned by the Milan branch of Nomura International. Prosecutors say they will continue their investigation over the risky derivatives trade carried out by previous management at the Italian bank.

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Glencore-Xstrata deal cleared for takeoff. China’s Ministry of Commerce is expected to announce this week that it has


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Wall Street Breakfast: Must-Know News

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JPMorgan posts record profit of $6.5B. JPMorgan’s (JPM) net income rose to a record $6.5B in Q1 from $4.9B a year earlier as EPS of $1.59 beat forecasts, but revenue slipped to $25.8B from $26.8B and missed consensus. Earnings received an $0.18-a-share benefit from reduced loan-loss reserves in mortgages and credit cards, but the business of banking – loan growth – slowed “across the industry.” Shares were -0.6% premarket.

JAB to buy DE Master Blenders for €7.5B. A consortium led by Joh A Benckise (JAB) has agreed to acquire Dutch Sara Lee spin-off D.E. Master Blenders 1753 for €12.50 a share in a deal that values the maker of Douwe Egberts coffee and Pickwick tea at €7.5B. The price is lower than the €12.75 mentioned when the sides first disclosed talks about a transaction in March. The purchase would add to JAB’s stakes in Peet’s


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Are Any Of Your Stocks Members Of The Triple Digit Club?

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Hickey and Walters (Bespoke) submit:

With a 10% rally in the S&P 500 during the first quarter, it has certainly been a good year for equities so far. It has been so good, in fact, that there are twenty US stocks that began the year with a market cap of more than $100 million that have seen year to date gains of 100% or more in the first quarter. Topping the list are shares of AMR (AAMRQ.PK), the parent company for American Airlines with a gain of 422%. Even though the company is in bankruptcy, it may have just seen its largest three month rally ever.

While you may have never heard of a lot of the names on the list, there are actually ten companies that have average daily volumes of more than 500K shares. The most


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Wall Street Breakfast: Must-Know News

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Wall Street Breakfast Editors submit:

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Cyprus reopens banks under tight restrictions. Stiff capital controls announced Wednesday designed to cut off the flow of money were in place as Cypriot banks reopened this morning. Banks have been shut for nearly two weeks as the government negotiated a bailout package with the EU and became the first eurozone country to impose losses on bank depositors. Cash withdrawals are limited to €300 per day, time deposits cannot be withdrawn until maturity, and check-cashing is banned. Additionally, anyone leaving the country may take only €1K euros with them, down from €3K in an early draft of the restrictions.

Fed doves make themselves heard. "I think this is the point where we have to be patient and let our policies work," the Chicago Fed’s Charles Evans told reporters. Separately, Boston’s Eric Rosengren and Minneapolis’ Narayana Kocherlakota presented a similar theme, with Kocherlakota even suggesting the Fed isn’t


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