Market News - Data Disaster Strikes

A positive start to global trading was promptly dampened this morning by a trio of dire economic data points. Home prices effectively double-dipped today, reaching a new low for the housing recession. Consumer confidence collapsed thanks to expensive gasoline prices that plagued the month of May. Chicago area business expansion, or the manufacturing base of the nation, dropped sharply. The Dow is still up about a half of a point, but there are three solid hours of trading time for that to change.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative Tickers: NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ, NYSE: NOK, NYSE: WMT, NYSE: EJ, NYSE: LGF, NYSE: PVH, Nasdaq: CRIC, Nasdaq: ELTK, NYSE: LAS, Nasdaq: XING, NYSE: FTE, NYSE: NLC, NYSE: TEX, Nasdaq: TRGL, NYSE: ENB, Nasdaq: USTR, Nasdaq: LECO, Nasdaq: SHOO, Nasdaq: YONG, Nasdaq: AGYS, NYSE: CV, Nasdaq: ELTK, Nasdaq: FCEL, NYSE: FBP-PB, Nasdaq: SQNS, Nasdaq: ZNWAZ, Nasdaq: RBNF, Nasdaq: FTWR, Nasdaq: MERU, Nasdaq: HEAT, Nasdaq: BOVA, Nasdaq: FTLK, Nasdaq: INOC, AMEX: AXK, AMEX: CGL-A, Nasdaq: NBIX, AMEX: KBX, NYSE: ASH, NYSE: ARL, Nasdaq: VLYWW, Nasdaq: TBET, Nasdaq: TTHI, Nasdaq: RITT, NYSE: NOK, Nasdaq: CBLI, Nasdaq: DHRM, NYSE: RLD, Nasdaq: BKOR, Nasdaq: MPET, Nasdaq: CBPO, Nasdaq: CFBK, AMEX: URG, NYSE: CEU, NYSE: LAS, Nasdaq: FCVA, AMEX: YMI, Nasdaq: ECTY, Nasdaq: FCCO, AMEX: URZ, AMEX: UEC, AMEX: ORS, Nasdaq: URRE.

Market News - Data Disaster Strikes

Consumer Confidence

The Conference Board’s measure of consumer confidence dropped precipitously at the end of May, acting as the final, yet most sure nail, in hammering down earlier enthusiastic stock trading. The metric of the consumer mood had stagnated after showing months ago that the recovery would not be a smooth one. However, over the past several months, the index had inched ahead. This latest measure marked a 5.2 point collapse, and really raises significant concerns about how deeply high gasoline prices have impacted consumer spending. At 60.8, the monthly mark missed by far the economists’ consensus set at 66.5, as tallied by Bloomberg. The index represents a disappointing state of affairs, and one worse than an already concerning state in April.

Home Prices

The S&P Case Shiller Home Price Index for March marked a new recession level low, effectively recording a double-dip in housing prices. For the first quarter, housing prices fell 5.1% against the prior year, taking prices back to their mid-2002 levels. 12 of 20 Metropolitan Statistical Areas (MSA) hit new lows, and 18 were down from February.

Midwestern Economy

The Chicago Purchasing Managers Index (PMI), reported today for the month of May, showed the pace of business expansion slowed in the Midwest this month. The Business Barometer Index fell to a mark of 56.6, from 67.6 in April. While a reading above 50 still marks economic expansion, the rapid drop in pace reinforces our concerns about economic slippage and downturn.

Investor Confidence

State Street’s (NYSE: STT) Investor Confidence Index gained in May. Amid many varied economic concerns, somehow global investor confidence still managed to improve this last month. Global confidence improved 6.8 points to an index reading of 104.1. The U.S. market was no drag either, as confidence in North American markets increased 7.7 points to 106.3. Even Europe gained 5.2 points to 79, though that absolute level of confidence illustrates recent months of decline.

Greece Uncertainty Cleared

Global markets got a boost this morning thanks to European official commentary regarding the possibility of its issuing additional aid to Greece. The euro gained on the news and markets across the board rose, including U.S. stocks ahead of the later reported poor economic data here at home.

Debt Limit Vote Today

A vote today to raise the debt limit is expected to fail, as it will include no cost cuts. The move to vote on the “clean” bill is a Republican political effort to paint the Democrats in a bad light. Tomorrow, the President meets with the entire GOP representation of the House.

Commodities and Currency

Oil is gaining today on a weakening relative dollar, which is weighed on by the debt dilemma in the States and the day’s European confidence building. WTI Crude Futures are up 1.75% to $102.35. Gold is about flat, while Wheat Futures are down about 3.8% in Chicago. The euro has gained 0.6% on the dollar, to $1.4374.

Corporate Wire

Nokia (NYSE: NOK) issued an earnings warning and its shares are down 15% as a result through midday. Nokia cited intense competition and tough pricing.

Wal-Mart (NYSE: WMT) had its South African acquisition of Massmart approved subject to certain conditions, though no further information was given. Wal-Mart was also in the news because it filled two open top executive spots in China after being hit by surprise resignations earlier this month.

The Corporate earnings wire includes news from E-House (China) Holdings (NYSE: EJ), Lions Gate Entertainment (NYSE: LGF), Phillips Van Heusen (NYSE: PVH), China Real Estate Information (Nasdaq: CRIC), Eltek (Nasdaq: ELTK), Lentuo International (NYSE: LAS), Qiao Xing Universal Resources (Nasdaq: XING). Holding meetings or calls, look for reports from France Telecom (NYSE: FTE), Nalco Holding (NYSE: NLC), Terex (NYSE: TEX), and Toreador Resources (Nasdaq: TRGL). Splitting shares today 2:1 Enbridge (NYSE: ENB), United Stationers (Nasdaq: USTR) and Lincoln Electric (Nasdaq: LECO); 3:2 Steve Madden (Nasdaq: SHOO).

Most Active Stocks

Biggest Gainers: Yongye International (Nasdaq: YONG), Agilysys (Nasdaq: AGYS), Central Vermont Public Service (NYSE: CV), Eltek (Nasdaq: ELTK), FuelCell Energy (Nasdaq: FCEL), First BanCorp Preferred (NYSE: FBP-PB), Sequans Communications (Nasdaq: SQNS), Zion Oil & Gas (Nasdaq: ZNWAZ), Rurban Financial (Nasdaq: RBNF), FiberTower (Nasdaq: FTWR), Meru Networks (Nasdaq: MERU), SmartHeat (Nasdaq: HEAT), Bank of Virginia (Nasdaq: BOVA), Funtalk China (Nasdaq: FTLK), Innotrac (Nasdaq: INOC), Accelr8 Technology (AMEX: AXK), Cagle’s (AMEX: CGL-A), Neurocrine Biosciences (Nasdaq: NBIX), Kimber Resources (AMEX: KBX), Ashland (NYSE: ASH).

Biggest Losers: American Realty Investors (NYSE: ARL), Valley National Bancorp (Nasdaq: VLYWW), Tibet Pharmaceuticals (Nasdaq: TBET), Transition Therapeutics (Nasdaq: TTHI), RIT Technologies (Nasdaq: RITT), Nokia (NYSE: NOK), Cleveland BioLabs (Nasdaq: CBLI), Dehaier Medical Systems (Nasdaq: DHRM), RealD Inc. (NYSE: RLD), Oak Ridge Financial (Nasdaq: BKOR), Magellan Petroleum (Nasdaq: MPET), China Biologic Products (Nasdaq: CBPO), Central Federal (Nasdaq: CFBK), UR Energy (AMEX: URG), China Education Alliance (NYSE: CEU), Lentuo Int’l (NYSE: LAS), First Capital Bancorp (Nasdaq: FCVA), YM BioSciences (AMEX: YMI), Ecotality (Nasdaq: ECTY), First Community Corp. (Nasdaq: FCCO), Uranerz (AMEX: URZ), Uranium Energy (AMEX: UEC), Orsus Xelent (AMEX: ORS), and Uranium Resources (Nasdaq: URRE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Memorial Day

Wall Street Greek thanks those who have served to preserve the freedoms that allow us to voice our opinions. The Lord knows that if we operated in Iran, Saudi Arabia or so many other nations, we might be imprisoned or simply disappear. But in America, thanks to those who have guarded our freedoms, we have the opportunity to make a difference. We can right wrongs, shine light on injustices and simply voice our view, which may not always be popular with all people in positions of power. So, thank you living and deceased American veterans of all wars, conflicts and missions. Without you the dark forces of the world would overcome us more easily. We are so proud of you, and we thank you from deep within our hearts.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative Tickers: NYSE: NOC, NYSE: RTN, NYSE: ATK, NYSE: LMT, NYSE: BA, NYSE: IWM, NYSE: TWM, NYSE: IWD, NYSE: HON, NYSE: GD, NYSE: COL, NYSE: GR, NYSE: LLL, NYSE: SAI, Nasdaq: FLIR, NYSE: ERJ, NYSE: SPR, Nasdaq: BEAV, NYSE: TDG, NYSE: CAE, NYSE: HXL, NYSE: ESL, NYSE: TDY, NYSE: CW, NYSE: HEI, NYSE: TGI, NYSE: ORB, NYSE: AIR, Nasdaq: KAMN, Nasdaq: AVAV, Nasdaq: SWHC, NYSE: DGI, NYSE: GY, AMEX: HWK, Nasdaq: LMIA, NYSE: WMT, NYSE: GE, NYSE: F, NYSE: GM, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ

Memorial Day

Memorial Day is a United States federal holiday observed on the last Monday of May. Once known as Decoration Day, the holiday commemorates U.S. soldiers who died while in military service. While it was first enacted to honor Union soldiers of the American Civil War (the reason why it is celebrated near the day of reunification after the Civil War), it has since been expanded (after World War I) to make it more relevant to modern living in the US. Thus, we now honor Americans who died in any service on Memorial Day.

The informal start to the summer season is marked on Memorial Day, as beach season officially opens along US coasts (at least along the East Coast). It's the beginning of summer driving season as well, and the start to greater draws on gasoline inventory levels. You can monitor gasoline activity, by tuning in to Wall Street Greek on Wednesday's, as we report on and analyze EIA energy data.

Memorial Day is an important holiday for patriotic Americans and everyone else as well, and so the stock market is closed to trading. In the past, the summer season would usually see a lull in trading volume, as vacation season swings into full gear. Your author recalls how much easier it was to get to Wall Street during summer, with schools closed, many on vacation and roads much clearer.

We hope you are enjoying your holiday and wish you a swell summer!

Relative tickers include Northrop Grumman (NYSE: NOC), Raytheon (NYSE: RTN), Alliant Techsystems (NYSE: ATK), Lockheed Martin (NYSE: LMT), Boeing (NYSE: BA), NYSE: IWM, NYSE: TWM, NYSE: IWD, Honeywell (NYSE: HON), General Dynamics (NYSE: GD), Rockwell Collins (NYSE: COL), Goodrich (NYSE: GR), L-3 Communications (NYSE: LLL), SAIC (NYSE: SAI), FLIR Systems (Nasdaq: FLIR), EMBRAER (NYSE: ERJ), Spirit Aerosystems (NYSE: SPR), BE Aerospace (Nasdaq: BEAV), TransDigm Group (NYSE: TDG), CAE (NYSE: CAE), Hexcel (NYSE: HXL), Esterline Technologies (NYSE: ESL), Teledyne Technologies (NYSE: TDY), Curtiss-Wright (NYSE: CW), HEICO (NYSE: HEI), Triumph Group (NYSE: TGI), Orbital Sciences (NYSE: ORB), AAR Corp. (NYSE: AIR), Kaman Corp. (Nasdaq: KAMN), AeroVironment (Nasdaq: AVAV), Smith & Wesson (Nasdaq: SWHC), DigitalGlobe (NYSE: DGI), GenCorp (NYSE: GY), Hawk (AMEX: HWK), LMI Aerospace (Nasdaq: LMIA), Wal-Mart (NYSE: WMT), GE (NYSE: GE), Ford (NYSE: F), GM (NYSE: GM).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

K-V Pharmaceutical (NYSE: KV-A) – Catches a Spark to a 42% Gain

The very volatile K-V Pharmaceutical Company (NYSE: KV-A) caught a spark Friday and jumped 42% higher through the day. There was no news of relevance listed on the company’s wire all day long nor on its website, so investors speculated as to the cause, filling message boards with their fervor. We found the driver for you though, so now you can make an informed investment decision for the short and maybe even the long-term.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

K-V Pharmaceutical (NYSE: KV-A) – Catches a Spark to a 42% Gain

Relative tickers: Nasdaq: AATI, Nasdaq: FTWR, Nasdaq: BCON, Nasdaq: VLYWW, Nasdaq: LPHI, Nasdaq: RUE, Nasdaq: SZYM, Nasdaq: INHX, Nasdaq: TKMR, Nasdaq: HMPR, Nasdaq: ACRX, Nasdaq: SEAC, Nasdaq: KGJI, Nasdaq: CDTI, Nasdaq: PFED, Nasdaq: MRVL, Nasdaq: RXII, Nasdaq: QUIK, Nasdaq: CZFC, Nasdaq: CRMT, Nasdaq: SPPRP, Nasdaq: FEED, Nasdaq: ALXA, Nasdaq: VNET, Nasdaq: LAVA, NYSE: KV-A, NYSE: KV-B, NYSE: ARL, Nasdaq: ACTV, NYSE: ZLC, NYSE: DEXO, Nasdaq: SQNS, Nasdaq: FXCM, NYSE: MSO, NYSE: DAC, NYSE: FRC, NYSE: BZH, NYSE: DRL, NYSE: CIS, NYSE: RUSL, NYSE: MDS, NYSE: END, NYSE: MTR, NYSE: LAS, NYSE: AVD, NYSE: UAN, NYSE: MNI, NYSE: RL, AMEX: URG, AMEX: EGX, AMEX: GHM, AMEX: UQM, AMEX: GBG, AMEX: DNN, AMEX: DMC, AMEX: INV, AMEX: PAL, AMEX: URZ, AMEX: GPL, AMEX: BRD, AMEX: COVR, AMEX: BONE, AMEX: QRM, AMEX: RBY, AMEX: PIP, AMEX: CNR, AMEX: WGA, AMEX: HDY, AMEX: SSY, Nasdaq: AMGN, Nasdaq: BIIB, Nasdaq: GILD, Nasdaq: LIFE, Nasdaq: TEVA, NYSE: WPI, Nasdaq: MYL, NYSE: PFE, NYSE: JNJ, NYSE: GSK, NYSE: SNY, NYSE: NVS, OTC: RHHBY.PK and NYSE: AZN.

It looks as though the fuel behind the big move in KV-A shares Friday was news that OrbiMed, the world’s largest healthcare focused investment firm, with some $5 billion in assets under management, upped its stake in K-V Pharmaceutical to 10.53% since March. It looks as though the news, which was not understood until after the close, was not as hot as the rumor though, as the stock was down after hours. It seems speculators thought there was some operation-relevant news leaked, and the real news just didn’t live up to traders’ dreams.

It’s still very relevant that OrbiMed increased its interest, which was 7.23% in March. This quickly heated stock has a 52-week range of $0.61 to $13.55, and took most of that ground starting in February, when one of its drugs gained FDA approval. Makena reduces the risk of premature birth in pregnant women. When approved in early February, it sent the stock up 131% in a day, and to its peak in March. Makena was the first drug approved by the FDA that is specifically indicated to reduce premature birth risk.

It appears Makena is still competing with unapproved compounds of approved drugs that match Makena’s make-up. It also appears that K-V has had to lower its price to ensure the drug was the chosen option of women at risk of premature birth. It looks to me as though this is what took the steam out of the KV-A locomotive in March.

The stock started Friday at $2.39 and closed at $3.38. It was down about 3.25% after hours though, as nimble money trying to catch a lift on its momentum looked to get out after the non-operational news broke. Given a three-day weekend, that made sense for a lot of traders. My feeling is that the stock might give more ground on Tuesday when it reopens under less cloudy skies, given the story will be well known by then. That said, this stock has long-term appeal, based on the little I currently know about it. If the “right price” and the market opportunity are attractive enough, OrbiMed, the specialist investor, may know exactly what it’s doing.



Other top gainers on the day included Advanced Analogic Technologies (Nasdaq: AATI), FiberTower (Nasdaq: FTWR), Beacon Power (Nasdaq: BCON), Valley National Bancorp (Nasdaq: VLYWW), Life Partners (Nasdaq: LPHI), rue21 (Nasdaq: RUE), Solarzyme (Nasdaq: SZYM), Inhibitex (Nasdaq: INHX), Tekmira Pharmaceuticals (Nasdaq: TKMR), Hampton Roads Bankshares (Nasdaq: HMPR), AcelRx Pharmaceuticals (Nasdaq: ACRX), SeaChange International (Nasdaq: SEAC), Kingold Jewelry (Nasdaq: KGJI), Clean Diesel Technologies (Nasdaq: CDTI), Park Bancorp (Nasdaq: PFED), Marvell Technology (Nasdaq: MRVL), RXi Pharmaceuticals (Nasdaq: RXII), QuickLogic (Nasdaq: QUIK), Citizens First (Nasdaq: CZFC), America’s Car-Mart (Nasdaq: CRMT), Supertel Hospitality (Nasdaq: SPPRP), AgFeed Industries (Nasdaq: FEED), Alexza Pharmaceuticals (Nasdaq: ALXA), 21Vianet (Nasdaq: VNET), Magma Design Automation (Nasdaq: LAVA), K-V Pharmaceuticals (NYSE: KV-A, NYSE: KV-B), American Realty Investors (NYSE: ARL), The Active Network (Nasdaq: ACTV), Zale (NYSE: ZLC), Dex One (NYSE: DEXO), Sequans Communications (Nasdaq: SQNS), FXCM, Inc. (Nasdaq: FXCM), Martha Stewart Living (NYSE: MSO), Danaos (NYSE: DAC), First Republic Bank (NYSE: FRC), Beazer Homes (NYSE: BZH), Doral Financial (NYSE: DRL), Camelot Information (NYSE: CIS), Direxion Daily Russia Bull (NYSE: RUSL), Midas (NYSE: MDS), Endeavor Int’l (NYSE: END), Mesa Royalty Trust (NYSE: MTR), Lentuo International (NYSE: LAS), American Vanguard (NYSE: AVD), CVR Partners (NYSE: UAN), McClatchy (NYSE: MNI), Polo Ralph Lauren (NYSE: RL), Ur Energy (AMEX: URG), Engex (AMEX: EGX), Graham (AMEX: GHM), UQM Technologies (AMEX: UQM), Great Basin Gold (AMEX: GBG), Denison Mines (AMEX: DNN), Document Security Systems (AMEX: DMC), Innovaro (AMEX: INV), North American Palladium (AMEX: PAL), Uranerz Energy (AMEX: URZ), Great Panther Silver (AMEX: GPL), Brigus Gold (AMEX: BRD), Cover-All Technologies (AMEX: COVR), Bacterin International (AMEX: BONE), Quest Rare Minerals (AMEX: QRM), Rubicon Minerals (AMEX: RBY), PharmAthene (AMEX: PIP), China Metro-Rural (AMEX: CNR), Wells-Gardner Electronics (AMEX: WGA), HyperDynamics (AMEX: HDY) and SunLink Healthy (AMEX: SSY). Industry relatives include Amgen (Nasdaq: AMGN), Biogen Idec (Nasdaq: BIIB), Gilead Sciences (Nasdaq: GILD), Life Technologies (Nasdaq: LIFE), Teva Pharmaceutical (Nasdaq: TEVA), Watson Pharmaceuticals (NYSE: WPI), Mylan (Nasdaq: MYL), Pfizer (NYSE: PFE), Johnson & Johnson (NYSE: JNJ), GlaxoSmithKline (NYSE: GSK), Sanofi-Aventis (NYSE: SNY), Novartis (NYSE: NVS), Roche Holding (OTC: RHHBY.PK), AstraZeneca (NYSE: AZN).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Set for Life with an Unemployment Check, a Can of Natural Ice and a Phillies Blunt Cigar

Chillin with My Check

It seems 424K Americans are heading into Memorial Day weekend with at least some cash in their pockets. Perhaps it’s just enough for the casino bus to Atlantic City, where they hope they might turn a government handout into a jackpot to set them up for life.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative Tickers: NYSE: RHI, NYSE: KFY, NYSE: MAN, NYSE: MWW, Nasdaq: KELYA, Nasdaq: JOBS, NYSE: JOB, Nasdaq: CECO, Nasdaq: PAYX, NYSE: BUD, NYSE: SAM, NYSE: TAP, NYSE: PM, NYSE: AYI, NYSE: ASF, Nasdaq: KFRC, NYSE: TBI, NYSE: DHX, NYSE: SFN, NYSE: CDI, Nasdaq: CCRN, Nasdaq: ASGN, NYSE: AHS, Nasdaq: BBSI, Nasdaq: HHGP, NYSE: SRT, Nasdaq: RCMT, Nasdaq: VSCP, OTC: ASRG.OB, OTC: MCTH.OB, OTC: IGEN.OB, OTC: STJO.OB, OTC: TNUS.OB, Nasdaq: TSTF, OTC: STTH.OB, OTC: PSRU.OB, OTC: CRRS.OB, NYSE: BAC, NYSE: JPM, NYSE: GS, NYSE: C, NYSE: MS, NYSE: WFC, NYSE: TD, NYSE: PNC, NYSE: GE, NYSE: WMT, NYSE: MCD, NYSE: AA, NYSE: AXP, NYSE: BA, NYSE: CAT, Nasdaq: CSCO, NYSE: CVX, NYSE: DD, NYSE: DIS, NYSE: HD, NYSE: HPQ, NYSE: IBM, Nasdaq: INTC, NYSE: JNJ, NYSE: KFT, NYSE: KO, NYSE: MMM, NYSE: MRK, Nasdaq: MSFT, NYSE: PFE, NYSE: PG, NYSE: T, NYSE: TRV, NYSE: UTX, NYSE: VZ, NYSE: XOM, NYSE: DE, NYSE: TIF, NYSE: CO, NYSE: FRO, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ.

Set for Life with an Unemployment Check, a Can of Natural Ice and a Phillies Blunt Cigar

The Department of Labor reported Weekly Initial Jobless Claims rose again last week, to 424K; that’s 10K more than the prior week’s revised count. It’s not a good sign after plenty other bad signs throughout the month of May, a dark period that saw tornadoes run wild and unemployment insurance claims re-establish themselves above the 400K mark. The four-week moving average can attest to that, sitting now at 438,500.

I suppose the lull in hiring, which we assume paralleled the increase in jobless claims, was the result of damaged consumer confidence and its result, lighter consumer spending. This article is being published ahead of the government’s Personal Income & Outlays data, due out Friday morning. We’ll receive some sort of color on consumer spending with that release. Though the report will cover April, while these weekly jobless claims announcements reach the wire fresh. Even so, economists surveyed by Bloomberg are looking for the pace of spending to slow to +0.4%, versus the 0.6% pace set in March. What is supposed to accelerate is the Fed’s favorite inflation gauge, the Core PCE Price Index, which is seen rising 0.2%, against the 0.1% increase in March.

Cue Snoop Dog CD here...

It was rising prices this past month that stalled consumers, especially gasoline, which touched $4 a gallon. That’s high enough to keep Americans planted in their backyards with a can of Natural Ice. That’s the cheap beer of the day; you old timers can liken to Milwaukee’s Best, or The Beast, as it’s known among serious beer connoisseurs. You can grab a six pack of Natural Ice for less than $5, and it goes well enough with a Phillies Blunt cigar, the poor man’s Partagas. Heck, sitting on a stoop with the two of those and the gang, listening to a baseball game on a sultry summer night, well it just doesn’t get much better… You can keep your stuffy Midtown bar and your vain, superficial, ravenous foreign lady. I’ll take my American girl and my American game.

Supposedly, insured unemployment fell by a tenth of a point, to 2.9% in the lagged May 14 period. In case you were counting reality, the number of Americans collecting on some sort of UI program numbered 7,739,572 in the May 7 period, which is quite a bit more than 2.9%. And that don’t include the poor saps who have given up, and the poorer of spirit saps who are swallowing their pride waiting tables or writing to the ether-world. Though, at least the poor saps have time to spend with The Beast.

We always like to give you the skinny on regional unemployment so here it is:

The highest insured unemployment rates in the week ending May 7 were in Alaska (5.5 percent), Puerto Rico (4.3), Oregon (4.2), Pennsylvania (4.0), California (3.9), Nevada (3.7), New Jersey (3.7), Connecticut (3.6), Illinois (3.6), Idaho (3.4), Rhode Island (3.4), and Wisconsin (3.4).

The largest increases in initial claims for the week ending May 14 were in Florida (+1,340), Georgia (+747), New Mexico (+415), Idaho (+282), and Hawaii (+236), while the largest decreases were in California (-6,828), Michigan (-6,740), New York (-2,569), Alabama (-2,093) and Wisconsin (-2,079).



Article should interest investors in Paychex (Nasdaq: PAYX), Manpower (NYSE: MAN), Robert Half International (NYSE: RHI), 51Job Inc. (Nasdaq: JOBS), Monster World Wide (NYSE: MWW), Korn/Ferry International (NYSE: KFY), Administaff (NYSE: ASF), Kforce (Nasdaq: KFRC), TrueBlue (NYSE: TBI), Dice Holdings (NYSE: DHX), Kelly Services (Nasdaq: KELYA), SFN Group (NYSE: SFN), CDI Corp. (NYSE: CDI), Cross Country Healthcare (Nasdaq: CCRN), On Assignment (Nasdaq: ASGN), Molson Coors (NYSE: TAP), Boston Beer (NYSE: SAM), Anheuser-Busch InBev (NYSE: BUD), AMN Healthcare Services (NYSE: AHS), Barrett Business Services (Nasdaq: BBSI), Hudson Highland Group (Nasdaq: HHGP), StarTek (NYSE: SRT), RCM Technologies (Nasdaq: RCMT), VirtualScopics (Nasdaq: VSCP), American Surgical (OTC: ASRG.OB), Medical Connections (OTC: MCTH.OB), iGen Networks (OTC: IGEN.OB), St. Joseph (OTC: STJO.OB), General Employment Enterprises (NYSE: JOB), Total Neutraceutical (OTC: TNUS.OB), TeamStaff (Nasdaq: TSTF), Stratum (OTC: STTH.OB), Purespectrum (OTC: PSRU.OB), Corporate Resource Services (OTC: CRRS.OB), Bank of America (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM), Goldman Sachs (NYSE: GS), Citigroup (NYSE: C), Morgan Stanley (NYSE: MS), Wells Fargo (NYSE: WFC), TD Bank (NYSE: TD), PNC Bank (NYSE: PNC), General Electric (NYSE: GE), Wal-Mart (NYSE: WMT), McDonald's (NYSE: MCD), Alcoa (NYSE: AA), American Express (NYSE: AXP), Boeing (NYSE: BA), Caterpillar (NYSE: CAT), Cisco Systems (Nasdaq: CSCO), Chevron (NYSE: CVX), DuPont (NYSE: DD), Walt Disney (NYSE: DIS), Home Depot (NYSE: HD), Hewlett-Packard (NYSE: HPQ), IBM (NYSE: IBM), Intel (Nasdaq: INTC), Johnson & Johnson (NYSE: JNJ), Kraft (NYSE: KFT), Coca-Cola (NYSE: KO), 3M (NYSE: MMM), Merck (NYSE: MRK), Microsoft (Nasdaq: MSFT), Pfizer (NYSE: PFE), Procter & Gamble (NYSE: PG), AT&T (NYSE: T), Travelers (NYSE: TRV), United Technologies (NYSE: UTX), Verizon (NYSE: VZ), Exxon Mobil (NYSE: XOM), Philip Morris (NYSE: PM), Acuity (NYSE: AYI).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Real Estate Market Growth has Begun

Real Estate

Weekly Mortgage Activity hit a lull as contracted average mortgage rates increased last week, but an important component data-point within the Mortgage Bankers Association report reminded us that better days lie ahead for housing. In fact, real estate market growth has already begun!

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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Real Estate Market Growth has Begun

Mortgage activity had benefited over recent weeks on the precipitous decline of mortgage rates. But last week, as average contracted rates on 30-year and 15-year fixed rate mortgages increased to 4.69% (from 4.6%) and 3.78% (from 3.75%), respectively, activity lulled. The MBA’s Market Composite Index only inched ahead 1.1% against the prior week on a seasonally adjusted basis. Purchase activity continued higher as well, with the seasonally adjusted Purchase Index gaining 1.5% against the immediately preceding period.

As expected, the Refinance Index creeped just 0.9% ahead as rates moved higher. We expect most Americans have refinanced their mortgages over the last decade, and the latest deep drop in rates surely swept up some of those who should have refinanced previously. We expect many recent buyers locked in better rates over the last few weeks as well. The refinance share of the mortgage market still increased a tenth of a percentage point though, to 66.8%. The adjustable rate mortgage (ARMS) share of mortgages dropped to 5.8%, against 6.3% the week before.

Many might look to this lull in weekly activity as yet another sign of a still dreadful and dead housing market, but we noticed something important in this week’s MBA data. The Purchase Index marked a point 3.1% above its comparable from a year ago. Last week’s report showed the Purchase Index 1.7% above its prior year comparable. And the report from two weeks ago, which covered the period ending May 6, showed the Purchase Index 25.8% below the prior year comparable. What does this data trend tell us?

Last year’s First-Time Homebuyer Tax Incentive Program drove a spike in mortgage applications and home purchases last spring. However, we’re now approaching the point in the year where it stopped doing so. In effective terms, that spike from three weeks ago likely marked a prior year tax incentive deadline for home purchases to qualify for the program. With two sequential weeks of year-to-year growth now marked, and with the yearly rate of growth increasing, it seems we have entered the portion of 2011 that will drive the real estate market growth most industry organizations have forecast for this year.

This week’s reported New Home Sales growth for April had nothing to do with comparable softness though, and thus offers independent reason for a tasting of optimism. Furthermore, Toll Brothers’ (NYSE: TOL) earnings report from just a day ago showed signs of life in the high-end of the market. TOL marked increased deliveries, contract signings and price improvement in its reported quarter. Thus, it appears clear to us that the real estate market has already begun to grow again.

Study of the National Association of Realtors (NAR) economic forecasts shows the industry organization’s expectation for 7.7% growth in existing home sales this year. While the NAR sees slightly lower New Home Sales in 2011, it still sees the start of quarterly improvement this quarter. Speaking in annual terms, housing starts are expected to rise and even residential construction is expected to start up again. So, with my apologies to pessimistic blowhards, I must declare the real estate market is now off its bottom. At this point, it’s up to investors to look to profit or sit back and watch from the rear.



Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Bank of America (NYSE: BAC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Wells Fargo (NYSE: WFC), Toronto Dominion (NYSE: TD), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG), BB&T (NYSE: BBT), CIT (NYSE: CIT), Bank United (NYSE: BKU), First Citizens (OTC: FCNCA.PK), Synovus (NYSE: SNV), United Bankshares (Nasdaq: UBSI), Hampton Roads Bankshares (Nasdaq: HMPR), WesBanco (Nasdaq: WSBC), City Holding (Nasdaq: CHCO), Sandy Spring (Nasdaq: SASR), First Citizens (OTC: FCBN.OB), SCBT Financial (Nasdaq: SCBT), Wilmington Trust (NYSE: WL), WSFS Financial (Nasdaq: WSFS), Southside Bancshares (Nasdaq: SBSI), Stellar One (Nasdaq: STEL), Union First Market (Nasdaq: UBSH), Eagle Bancorp (Nasdaq: EGBN), First Bancorp (Nasdaq: FBNC), Ameris (Nasdaq: ABCB), The Bancorp (Nasdaq: TBBK), First Community (Nasdaq: FCBC), Capital City (Nasdaq: CCBG), Financial Institutions (Nasdaq: FISI), National Bankshares (Nasdaq: NKSH), Citizens & Northern (Nasdaq: CZNC), Charter Financial (Nasdaq: CHFN), Seacoast Banking (Nasdaq: SBCF), TIB Financial (Nasdaq: TIBB), American National (Nasdaq: AMNB).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Business News 05-26-11

Business Summary

The business news focus of Thursday is centered around the GDP revision in the U.S. and the G-8 meeting internationally. However, we’ve Jobless Claims, a consumer metric, foreclosure data and the regular check on commodities and currency here covered.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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Business News

US Economic Data

Q1 2011 GDP Revision

The Advance Estimate showed GDP only grew at a rate of 1.8%, but economists surveyed by Bloomberg expected the revision to take the rate up to 2.1%. Unfortunately, Ben Bernanke and crew correctly forecasted GDP was going to lean lower, and the report showed economic growth was unchanged at 1.8% in the first quarter. The rest of the day's business news plays second fiddle to GDP today.

Jobless Claims

Weekly Initial Jobless Claims increased in the May 21 period by 10K, to 424K, from the revised prior week period at 414K. The four-week moving average for claims now sits at 438,500, down just slightly. The labor market’s recent retrenchment is only reinforced with every weekly jobless claims figure marking above 400K, and especially when the weekly rate rises.

Bloomberg Consumer Comfort Index

Bloomberg has started reporting its Consumer Comfort Index, a weekly measure of the consumer mood. In this latest reporting, consumer confidence improved, with the index marking negative 48.4 through May 22nd, up from its 9-month low of -49.4 marked in the prior period. Bloomberg speculated that a 12 cent decline in gasoline prices was likely behind the improvement, and we would agree.

Foreclosures

RealtyTrac reported that foreclosures measured 28% of total transactions in the first quarter. That’s up a point from Q4 2010, but down a point from Q1 2010.

Commodities and Forex

Natural Gas Inventory

The EIA’s latest Natural Gas Report covering the period ending May 20 showed a net increase of 105 Bcf from the previous week. Natural gas stores now sit 26 Bcf below their five-year average for this time of year. Stocks were 230 Bcf less than last year. Natural gas futures were down 2.4% on the news.

Oil Prices

WTI Crude Futures were down about 1.5% this morning, just as SocGen published its forecast that oil could reach $106 per barrel. SocGen’s forecast had some basis in last year’s May pullback that was then followed by higher prices. Crude is supposedly benefiting now from a draw-down seen in distillate inventories recently, but I would say that has more to do with refiners doing their best to produce gasoline to replenish stocks impacted by Libyan turmoil. We should rather focus on crude inventories, demand and the dollar when pricing crude!

Dollar / Euro

The euro gained a bit on the dollar this morning, reportedly supported by Chinese demand for Portuguese bailout bonds. You’ll recall that China also had interest in investing in Greece. The euro moved to $1.42, its strongest point in a week. However, the euro is down against most other major currencies today.

Political and Geopolitical

DC Doings

The Senate Banking Committee examines the future of housing finance Thursday.

G-8 Summit

The Group of 8 draws powerhouse national leaders for a summit in France through Friday. President Obama met with the Russians first, as Medvedev pushes for Russian WTO entry.

Corporate Wire

Thursday’s analyst meetings and conference presentations include Raytheon (NYSE: RTN), CSX (NYSE: CSX), Oneok (NYSE: OKE), Johnson & Johnson (NYSE: JNJ), Symantec (Nasdaq: SYMC), Rambus (Nasdaq: RMBS) and Autozone (NYSE: AZO). The EPS schedule includes Blue Coat Systems (Nasdaq: BCSI), H.J. Heinz (NYSE: HNZ), Big Lots (NYSE: BIG), Tiffany (NYSE: TIF), Patterson Cos. (Nasdaq: PDCO), Gushan Environmental (NYSE: GU), America’s Car-Mart (Nasdaq: CRMT), Angeion (Nasdaq: ANGN), Bio-Reference Laboratories (Nasdaq: BRLI), CorVel (Nasdaq: CRVL), dELIA’s (Nasdaq: DLIA), Food Technology Service (Nasdaq: VIFL), Fred’s (Nasdaq: FRED), Gordman’s Stores (Nasdaq: GMAN), HHGregg (NYSE: HGG), Iteris (AMEX: ITI), Magma Design Automation (Nasdaq: LAVA), Marvell Technology (Nasdaq: MRVL), Mobile Telesystems (NYSE: MBT), Oceanfreight (Nasdaq: OCNF), Omnivision Technologies (Nasdaq: OVTI), Paragon Shipping (Nasdaq: PRGN), Patterson Companies (Nasdaq: PDCO), QAD (Nasdaq: QADB), Quality Systems (Nasdaq: QSII), RBC Bearings (Nasdaq: ROLL), rue21 (Nasdaq: RUE), Seneca Foods (Nasdaq: SENEA), Signet Jewelers (NYSE: SIG), Versant (Nasdaq: VSNT) and WSP Holdings (NYSE: WH). This article should also interest SPDR Dow (NYSE: DIA), SPDR S&P 500 (NYSE: SPY), Powershares QQQ (Nasdaq: QQQQ), ProShares Short Dow 30 (NYSE: DOG), ProShares UltraShort S&P 500 (NYSE: SDS), ProShares Ultra Short QQQ (NYSE: QLD), NYSE Euronext (NYSE: NYX), Nasdaq OMX (Nasdaq: NDAQ).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

COST EPS Q3 FY 2011 - Costco Trouble Passing Prices Through

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Costco

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

COST EPS Q3 FY 2011

Costco (Nasdaq: COST) shares were down 1% in Wednesday trading, after the company reported its third quarter profit up 5.9%. Revenue gained 16%, benefiting from U.S., Canadian and Mexican growth. COST’s EPS of $0.73 though, fell short of the consensus view for $0.77, based on Factset data. Costco’s revenue growth benefited from higher gasoline and food prices, but its gross margin was pressured. It appears many companies are having trouble passing price increases completely through. When a discounter's cost of goods sold is pressured, and it competes on price, its margins are getting squeezed. So while a tough economy and rising prices send people to the discounters, driving up their volumes, it also contracts their variable cost margins.



Article interests investors in: S&P Retail ETF (NYSE: XRT), Wal-Mart (NYSE: WMT), Pier 1 Imports (NYSE: PIR), Ethan Allen (NYSE: ETH), Hooker Furniture (Nasdaq: HOFT), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Apple (Nasdaq: AAPL), Best Buy (NYSE: BBY), The Limited (NYSE: LTD), Chicos (NYSE: CHS), Ann Taylor (NYSE: ANN), The Gap (NYSE: GPS), Macy’s (NYSE: M), JC Penney (NYSE: JCP), Nordstrom (NYSE: JWN), TJX Company (NYSE: TJX), Kohls (NYSE: KSS), Costco (Nasdaq: COST), Target (NYSE: TGT), Wet Seal (Nasdaq: WTSLA), Hot Topic (Nasdaq: HOTT), American Eagle Outfitters (NYSE: AEO), Aeropostale (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF), Saks (NYSE: SAK), Tiffany (NYSE: TIF), Talbots (NYSE: TLB), Lumber Liquidators (NYSE: LL), Builders Firstsource (Nasdaq: BLDR), Fortune Brands (NYSE: FO), Leggett & Platt (NYSE: LEG), Tempur-Pedic International (NYSE: TPX), Acuity Brands (NYSE: AYI), La-Z-Boy (NYSE: LZB), Select Comfort (Nasdaq: SCSS), Sleepy’s (NYSE: ZZ), Furniture Brands (NYSE: FBN), Natuzzi (NYSE: NTZ), Sears (Nasdaq: SHLD), Dillard’s (NYSE: DDS), Bon-Ton (Nasdaq: BONT), Cost Plus (Nasdaq: CPWM), Baker’s Footwear (Nasdaq: BKRS.OB), Bebe Stores (Nasdaq: BEBE), The Buckle (NYSE: BKE), Cache (Nasdaq: CACH), Casual Male (Nasdaq: CMRG), Cato (Nasdaq: CATO), Christopher & Banks (NYSE: CBK), Citi Trends (Nasdaq: CTRN), Collective Brands (NYSE: PSS), Destination Maternity (Nasdaq: DEST), Dress Barn (Nasdaq: DBRN), DSW (NYSE: DSW), Finish Line (Nasdaq: FINL), Footlocker (NYSE: FL), Gymboree (Nasdaq: GYMB), Guess (NYSE: GES), J. Crew (NYSE: JCG), Jones New York (NYSE: JNY), Jos. A Banks (Nasdaq: JOSB), New York & Co. (NYSE: NWY), Men’s Wearhouse (NYSE: MW), Syms (Nasdaq: SYMS), The Children’s Place (Nasdaq: PLCE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

RL EPS Q4 FY 2011 - Polo Ralph Lauren Offers Complexity

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Polo Ralph Lauren

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

RL EPS Q4 FY 2011

Polo Ralph Lauren (NYSE: RL) shares were down 11% Wednesday, after it reported 36% lower fiscal fourth quarter net income. The $0.74 a share it earned was short of the $0.79 forecast by analysts. The company said the prior year included an extra week, costing it perhaps $0.13 this year. RL also blamed a shift in the Easter holiday, but investors were not listening, since the analysts’ forecasts would have included those factors. Same-store sales increased 7%, and the company forecast first quarter revenue climbing in the mid-20% range. Same-store sales are seen slipping though to a low double-digit rate. RL experienced a narrowing gross margin, as "unprecedented inflationary pressure" plagued it. The entire industry is seeing higher raw materials costs and also increased wage demands in China. This complex report shows that managing volatile supply, i.e. wildly rising cotton prices, offers an uncertainty that can cost investors.



Article should interest American Apparel (NYSE: APP), Carter’s (NYSE: CRI), Cherokee (Nasdaq: CHKE), China Xiniya Fashion (NYSE: XNY), Columbia Sportswear (Nasdaq: COLM), Crown Crafts (Nasdaq: CRWS), Delta-Apparel (AMEX: DLA), Ever-Glory International (AMEX: EVK), Frederick’s of Hollywood (AMEX: FOH), G-III Apparel (Nasdaq: GIII), Gildan Activewear (NYSE: GIL), Hampshire Group (OTC: HAMP.PK), Hanesbrands (NYSE: HBI), Jaclyn (OTC: JCLY.PK), JLM Couture (OTC: JLMC.PK), Joe’s Jeans (Nasdaq: JOEZ), Liz Claiborne (NYSE: LIZ), lululemon (Nasdaq: LULU), Maidenform Brands (NYSE: MFB), Oxford Industries (NYSE: OXM), Perry Ellis (Nasdaq: PERY), Phillips-Van Heusen (NYSE: PVH), Polo Ralph Lauren (NYSE: RL), Quiksilver (NYSE: ZQK), Superior Uniform (Nasdaq: SGC), Tefron (OTC: TFRFF.PK), Warnaco Group (NYSE: WRC), Triumph Apparel (OTC: TRUA.PK), True Religion (Nasdaq: TRLG), Under Armour (NYSE: UA), V.F. Corp. (NYSE: VFC), Wacoal (Nasdaq: WACLY), Zuoan Fashion (NYSE: ZA).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

AEO Q1 FY 2012 EPS - American Eagle Faces Tight Environment

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American Eagle

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

AEO Q1 FY 2012 EPS

American Eagle Outfitters (NYSE: AEO) shares were down about 5% Wednesday, after the company reported revenues fell 6% in its fiscal first quarter. Cost cuts still allowed AEO to nearly triple EPS to $0.14, which was in line with the analysts’ consensus, according to Factset. Revenues missed consensus though by nearly $30 million. Same-store sales fell 8%. While the company indicated sales were a bit better in the second quarter so far, and that it would be making some inventory changes to help sales along, its EPS guidance of $0.10 to $0.13 a share was disappointing against the analysts’ consensus for $0.13.



Article interests investors in: S&P Retail ETF (NYSE: XRT), Wal-Mart (NYSE: WMT), Pier 1 Imports (NYSE: PIR), Ethan Allen (NYSE: ETH), Hooker Furniture (Nasdaq: HOFT), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Apple (Nasdaq: AAPL), Best Buy (NYSE: BBY), The Limited (NYSE: LTD), Chicos (NYSE: CHS), Ann Taylor (NYSE: ANN), The Gap (NYSE: GPS), Macy’s (NYSE: M), JC Penney (NYSE: JCP), Nordstrom (NYSE: JWN), TJX Company (NYSE: TJX), Kohls (NYSE: KSS), Costco (Nasdaq: COST), Target (NYSE: TGT), Wet Seal (Nasdaq: WTSLA), Hot Topic (Nasdaq: HOTT), American Eagle Outfitters (NYSE: AEO), Aeropostale (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF), Saks (NYSE: SAK), Tiffany (NYSE: TIF), Talbots (NYSE: TLB), Lumber Liquidators (NYSE: LL), Builders Firstsource (Nasdaq: BLDR), Fortune Brands (NYSE: FO), Leggett & Platt (NYSE: LEG), Tempur-Pedic International (NYSE: TPX), Acuity Brands (NYSE: AYI), La-Z-Boy (NYSE: LZB), Select Comfort (Nasdaq: SCSS), Sleepy’s (NYSE: ZZ), Furniture Brands (NYSE: FBN), Natuzzi (NYSE: NTZ), Sears (Nasdaq: SHLD), Dillard’s (NYSE: DDS), Bon-Ton (Nasdaq: BONT), Cost Plus (Nasdaq: CPWM), Baker’s Footwear (Nasdaq: BKRS.OB), Bebe Stores (Nasdaq: BEBE), The Buckle (NYSE: BKE), Cache (Nasdaq: CACH), Casual Male (Nasdaq: CMRG), Cato (Nasdaq: CATO), Christopher & Banks (NYSE: CBK), Citi Trends (Nasdaq: CTRN), Collective Brands (NYSE: PSS), Destination Maternity (Nasdaq: DEST), Dress Barn (Nasdaq: DBRN), DSW (NYSE: DSW), Finish Line (Nasdaq: FINL), Footlocker (NYSE: FL), Gymboree (Nasdaq: GYMB), Guess (NYSE: GES), J. Crew (NYSE: JCG), Jones New York (NYSE: JNY), Jos. A Banks (Nasdaq: JOSB), New York & Co. (NYSE: NWY), Men’s Wearhouse (NYSE: MW), Syms (Nasdaq: SYMS), The Children’s Place (Nasdaq: PLCE).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

HRL Q2 2011 EPS - Hormel Faces Challenging Pricing Dynamics

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Hormel Foods

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

HRL Q2 2011 EPS

Hormel (NYSE: HRL) shares were down 5% Wednesday, as the company is having issue managing its pricing along with its rising costs. HRL grew EPS 41% to $0.40, but analysts were looking for $0.41 a share. Meanwhile, the company earned less income on stronger revenues than analysts had anticipated. It looks as though Hormel has not matched its rising costs perfectly, but the cure for its ailment may not be higher prices in a competitive environment. Hormel did raise its guidance, but analysts were already expecting that. The consensus view now for the full year is $1.71, sitting above the center of the company’s guidance for $1.67 to $1.73. In my view, Hormel seems to be executing rather well considering a difficult and dynamic environment, but it appears investors are worried about the environment more than Hormel’s execution.



Article should interest Smithfield Foods (NYSE: SFD), Brasil Foods SA (Nasdaq: BRFS), Tyson Foods (NYSE: TSN), Hormel (NYSE: HRL), Seaboard (NYSE: SEB), Pilgrim's Pride (NYSE: PPC), Sanderson Farms (Nasdaq: SAFM), Industrias Bachoco (NYSE: IBA), Balchem (Nasdaq: BCPC), Zhongpin (Nasdaq: HOGS), Bridgford Foods (Nasdaq: BRID), Sara Lee (NYSE: SLE), Pepsico (NYSE: PEP), Unilever NV (NYSE: UN), Unilever plc (NYSE: UL), General Mills (NYSE: GIS), Kellogg (NYSE: K), Campbell Soup (NYSE: CPB), ConAgra Foods (NYSE: CAG), Mead Johnson Nutrition (NYSE: MJN), J.M. Smucker (NYSE: SJM), McCormick (NYSE: MKC), Green Mountain Coffee (Nasdaq: GMCR), Ralcorp (NYSE: RAH), Del Monte (NYSE: DLM), Corn Products (NYSE: CPO), Flowers Foods (NYSE: FLO), Treehouse Foods (NYSE: THS), Gruma S.A.B. (NYSE: GMK), American Italian Pasta (Nasdaq: AIPC), Diamond Foods (Nasdaq: DMND), J&J Snack Foods (Nasdaq: JJSF), Lance (Nasdaq: LNCE), B&G Foods (NYSE: BGS), Seneca Foods (Nasdaq: SENEB), Smart Balance (Nasdaq: SMBL), Farmer Brothers (Nasdaq: FARM), John B. Sanfilippo (Nasdaq: JBSS), China Marine Food (Nasdaq: CMFO), MGP Ingredients (Nasdaq: MGPI), China Nutrition (Nasdaq: CNGL), Overhill Farms (AMEX: OFI), Omega Protein (NYSE: OME), Key Technology (Nasdaq: KTEC), Tasty Baking (Nasdaq: TSTY), Inventure Foods (Nasdaq: SNAK), Golden Enterprises (Nasdaq: GLDC).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

TOL Q2 2011 EPS - Toll Brothers Produces Positive Indicators

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Toll Brothers

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

TOL Q2 2011 EPS

Toll Brothers (NYSE: TOL) shares were up about 2.3% through late-day trading, after being alone among homebuilders on the positive side in Tuesday’s trade. TOL reported positive data with regard to contract signings, home deliveries and home sales pricing. That forward looking information helped stave off concern about its EPS miss, as the company reported a $0.12 loss per share, against analyst expectations for a $0.04 loss. Based on my experience as an analyst, the operating figure was probably closer to the analysts’ view, especially considering that revenues came in about in line with the analysts’ view. However, the positive indicators were more than enough to support the shares today. Contract signings rose 8%; home deliveries rose 9%; and the average price of newly signed contracts improved 1%. The company also upped its delivery expectations for the year to 2,300 to 2,800, up from the 2,200 it previously said was possible. This verifies much of what we've been writing on the blog regarding our positive outlook for homebuilders this year, despite only marginal growth seen for real estate.

Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

New Home Sales Jump 7.3% - Ho-Hum?

New Home Sales growth surpassed economists’ expectations in April and housing stocks barely noticed. The 7.3% new home sales growth in April took the annual pace of sales to 323K, which was solidly above the economists’ consensus forecast for 300K. Yet, the S&P Homebuilders Select Industry Index (NYSE: XHB) declined in value by 0.4% Tuesday. The reason was clear; while the pace of home sales improved, the absolute level of activity remained pitiful.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative tickers: Nasdaq: ITIC, NYSE: BAC, OTC: FMCC.OB, OTC: FNMA.OB, NYSE: GS, NYSE: MS, NYSE: WFC, NYSE: TD, NYSE: SRS, NYSE: URE, NYSE: IGR, NYSE: XIN, Nasdaq: RYHRX, Nasdaq: TRREX, NYSE: TOL, NYSE: HOV, NYSE: DHI, NYSE: BZH, NYSE: LEN, NYSE: KBH, NYSE: PHM, NYSE: NVR, NYSE: GFA, NYSE: MDC, NYSE: RYL, NYSE: MTH, NYSE: BHS, NYSE: SPF, NYSE: MHO, AMEX: OHB, NYSE: VNQ, NYSE: PNC, NYSE: JPM, Nasdaq: HOFT, NYSE: ETH, NYSE: PIR, NYSE: WSM, NYSE: HD, NYSE: LOW, AMEX: VAZ, AMEX: NKR, AMEX: MZA, AMEX: NXE, AMEX: NFZ, Nasdaq: XNFZX, Nasdaq: FSAZX, Nasdaq: AVTR, NYSE: AIV, NYSE: EQR, NYSE: AVB, NYSE: UDR, NYSE: ESS, NYSE: CPT, NYSE: SNH, NYSE: BRE, NYSE: HME, NYSE: MAA, NYSE: ELS, NYSE: ACC, NYSE: CLP, Nasdaq: AGNC, NYSE: SUI, NYSE: AEC, NYSE: PMT and AMEX: TWO, NYSE: SPG.

New Home Sales Jump 7.3% Ho-Hum?

New Home Sales ran at an annual rate of 323K in April, a notch plus above March’s revised rate of 301K. April blew economists away in actuality, as the highest economist estimate was for 320K. So why then were housing stocks almost unanimously lower Tuesday? It’s because the real estate market is not measured by new home sales alone. The 323K sales pace matched up against existing home sales of 5.05 million. That’s just 6% of total home sales, so when considering that existing home sales fell 0.8% in April, you can understand why investors paid no attention to new home sales growth Tuesday.

The details of the report showed that sales remained 23.1% short of the rate marked in April 2010, but that time period benefited greatly from tax incentive inspired activity. This latest data showed that month-over-month growth in sales was strongest in the Northeast (+7.7%) and the West (+15.1%), with growth also seen in the Midwest (+4.9%) and South (+4.3%). Yet, yearly comparisons were grossly unfavorable in each region.

Because of the increased rate of sales, inventory measured in months improved to 6.5 months in April from 7.2 months in March. Though in April 2010, supply was 6.2 months. There was relatively good news to be found in pricing data, as both the median price and average price of homes sold in April marked increases over March.

Still, the shares of homebuilders fell Tuesday, with Toll Brothers (NYSE: TOL) an exception, rising fractionally ahead of its earnings release. Toll likely also benefited from a burst in home sales ranging in price from $400K to $500K. Shares in Hovnanian (NYSE: HOV) fell 0.8%; KB Homes (NYSE: KBH) declined 0.6%; D.R. Horton (NYSE: DHI) dropped 1.7%; Pulte Homes (NYSE: PHM) fell 0.8%; and Beazer (NYSE: BZH) dropped 1.9%.



Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Bank of America (NYSE: BAC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Wells Fargo (NYSE: WFC), Toronto Dominion (NYSE: TD), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Papandreou Must Change Greece’s Economic Course

The day’s focus is once again on Europe, where it is looking more and more like austerity is a useless effort for troubled Greece. On Monday, Standard & Poor’s (NYSE: MHP) cut Italy’s credit rating, and despite Moody’s (NYSE: MCO) and Fitch’s affirmation of ratings, global markets fell into tailspin. Europe is a disheveled beast today as a result, and because of lost confidence in Greece’s ability to survive financial ruin.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Relative tickers: NYSE: NBG, NYSE: OTE, NYSE: CCH, NYSE: TK, NYSE: NM, NYSE: NNA, NYSE: NMM, NYSE: TNP, NYSE: OSG, NYSE: ISH, NYSE: EXM, NYSE: SB, NYSE: SEA, NYSE: GNK, NYSE: DSX, NYSE: DAC, NYSE: TNP, NYSE: SFL, NYSE: NAT, NYSE: SSW, NYSE: GMR, NYSE: DHT, NYSE: MPX, Nasdaq: DRYS, Nasdaq: TOPS, Nasdaq: EGLE, Nasdaq: SINO, Nasdaq: PRGN, NYSE: KSP, Nasdaq: ESEA, Nasdaq: SBLK, Nasdaq: ONAV, Nasdaq: VLCCF, Nasdaq: TBSI, Nasdaq: GLNG, Nasdaq: XSEAX, Nasdaq: ACLI, NYSE: DB, Nasdaq: ITUB, NYSE: STD, NYSE: WBK, NYSE: UBS, NYSE: LYG, NYSE: BCS, NYSE: CS, NYSE: AIB, NYSE: BLX, NYSE: BAC, NYSE: C, NYSE: GS, NYSE: JPM, NYSE: MS, NYSE: EEA, Nasdaq: VEURX, NYSE: PEF, NYSE: EKH, NYSE: GUR, NYSE: EPV, NYSE: VEA, NYSE: DFE, NYSE: DEB, NYSE: IEV, NYSE: RNE, Nasdaq: SERAX, Nasdaq: SERBX, Nasdaq: FEUFX, Nasdaq: FIEUX, Nasdaq: IERAX, Nasdaq: PBEUX, Nasdaq: UEPIX, Nasdaq: PEUGX and Nasdaq: RYAEX.

Papandreou Must Change Greece’s Economic Course

The Greek Prime Minister faces pressure to tighten the noose around the neck of his electorate. Unfortunately for Prime Minister Papandreou, his rivals are finding opportunity countering Greece’s failing efforts.

The government is moving ahead now with developing plans to sell off state held assets, including stakes in Telecom stalwart O.T.E. (NYSE: OTE), state-owned Hellenic Postbank, and Greece’s two main ports of Piraeus and Thessaloniki. The New Democracy Party is also pushing for the sale of Greece largest electricity producer, P.P.C. Such privatization actions have been proven wise moves through their initiation in the United States and follow through in the United Kingdom and Europe. The question is, what kind of price will a desperate Greece get now? It must not act like the desperate seller, and be patient for hungry buyers to emerge if it wants to best serve its citizenry and my spiritual brothers. In the end, more efficient business operations will emerge and likely grow in the place of currently fat and fraudulent operators.

New Democracy is taking an important strategic position now in opposition of the cornered Papandreou’s socialist government (PASOK Party), and yours truly happens to agree with the position, despite my favoritism of Papandreou, the man and pseudo-New Yorker. The fact is that I’ve argued against austerity since its start, and clearly stated it matched the American mistake of the Great Depression.

However, when I said Greece would do better to raise taxes across tourism, thus forcing visiting foreigners to my paradise-like spiritual homeland to help front Greece’s bill, detractors said it was a mistake. They said it would kill tourism, to which I correctly forecasted that riots and crime would do more to kill Greece’s tourism industry than well-spread taxes across flights, cruises, hotels and taxi rides. The Greek people would have appreciated its government’s efforts to guard them from financial distress. Instead it told them, my dear people, you take the poison for the sake of our heritage. Greeks responded with angry dissatisfaction.

Greeks have plenty of reason to mistrust their government, with scandal and corruption as common in Greece as it is across the globe. Who would pay taxes to a lost cause, or more taxes to a futile escape effort? Thus, it has done well to target corruption, but perhaps it was too late to establish credibility.

The Greek government currently too closely resembles the panicked Bush-government and its pressured quick decisions. You’ll recall Bush’s mailing of $300 checks to every American, a useless waste of important funds and an illustration of the government’s poor assessment of imminent economic catastrophe. We sadly remember the butchered bailout legislations that sent billions into nebulous necromancy, or better stated, into Wall Street executive bonus packages.

Greece cannot raise taxes forever; rather, it can until its Parliament building burns to the ground. The torch that would start that fire is already burning, and New Democracy can sense it. At least though, for Greeks, it is New Democracy gaining attention for seeking change rather than the Communists or Isolationists or Nationalists. Hopefully Greeks will not remember that it was under New Democracy that the nation’s financial position was mishandled and misreported.

The last thing I want to see in Greece is radical leadership gaining control because of the failed establishment. This threat extends throughout Europe, the Middle East and the globe, and is not negligible. This is how Hitler gained power! Who else would have listened to him but the desperate? So beware and be wise Europeans and Middle Easterners.

I disagree with the position of my better-schooled acquaintance, and I hope friend, Economist Charles Calomiris. I disagree with the view that Greece must default, or has no better option. I also would rather not see Greece dislocated from the euro zone or the umbrella of the E.U. Papandreou must change course, but there are many roads to choose from, each of which looks perilous from here. I’ve supported two of them here, selling assets and taxing the use of them by foreigners.

I remain available to Greece should she call, because I bleed for her.



Editor's Note: This article should interest investors in National Bank of Greece (NYSE: NBG), Hellenic Telecommunications (NYSE: OTE), Coca-Cola HBC (NYSE: CCH), Teekay Corp. (NYSE: TK), Navios Maritime Holdings (NYSE: NM), Navios Maritime Acquisition (NYSE: NNA), Navios Maritime Partners L.P. (NYSE: NMM), Tsakos Energy Navigation Ltd. (NYSE: TNP), Overseas Shipholding Group (NYSE: OSG), International Shipholding (NYSE: ISH), Excel Maritime Carriers (NYSE: EXM), Safe Bulkers (NYSE: SB), Claymore/Delta Global Shipping ETF (NYSE: SEA), Genco Shipping & Trading (NYSE: GNK), Diana Shipping (NYSE: DSX), Danaos (NYSE: DAC), Tsakos Energy Navigation (NYSE: TNP), Ship Finance Int'l (NYSE: SFL), Nordic American Tanker (NYSE: NAT), Seaspan (NYSE: SSW), General Maritime (NYSE: GMR), DHT Maritime (NYSE: DHT), Brunswick (NYSE: BC), Marine Products Corp. (NYSE: MPX), DryShips (Nasdaq: DRYS), Top Ships (Nasdaq: TOPS), Eagle Bulk Shipping (Nasdaq: EGLE), Sino-Global Shipping (Nasdaq: SINO), Paragon Shipping (Nasdaq: PRGN), K-SEA Transportation Partners (NYSE: KSP), Euroseas (Nasdaq: ESEA), Star Bulk Carriers (Nasdaq: SBLK), Omega Navigation (Nasdaq: ONAV), Knightsbridge Tankers Ltd. (Nasdaq: VLCCF), TBS Int'l (Nasdaq: TBSI), Golar LNG (Nasdaq: GLNG), Claymore/Delta Global Shipping (Nasdaq: XSEAX), American Commercial Lines (Nasdaq: ACLI), Deutsche Bank (NYSE: DB), ITA (Nasdaq: ITUB), Banco Santander (NYSE: STD), Westpac Banking (NYSE: WBK), UBS (NYSE: UBS), Lloyd’s Banking Group (NYSE: LYG), Barclay’s (NYSE: BCS), Credit Suisse (NYSE: CS), Allied Irish Banks (NYSE: AIB), Banco Latinamerican (NYSE: BLX), Bank of America (NYSE: BAC), Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM), Morgan Stanley (NYSE: MS), European Equity Fund (NYSE: EEA), Vanguard European Stock Index (Nasdaq: VEURX), Powershares FTSE RAFI Europe (NYSE: PEF), Europe 2001 (NYSE: EKH), S&P Emerging Europe (NYSE: GUR), Ultrashort MSCI Europe (NYSE: EPV), Vanguard Europe Pacific (NYSE: VEA), Wisdomtree Europe SmallCap (NYSE: DFE), Wisdom Tree Europe Total Div (NYSE: DEB), iShares S&P Europe 350 (NYSE: IEV), Morgan Stanley Eastern Europe (NYSE: RNE), DWS Europe Equity A (Nasdaq: SERAX), DWS Europe Equity B (Nasdaq: SERBX), Fidelity Europe (Nasdaq: FEUFX), Fidelity Europe (Nasdaq: FIEUX), ICON Europe A (Nasdaq: IERAX), Pioneer Europe Fund (Nasdaq: PBEUX), ProFunds Europe 30 (Nasdaq: UEPIX), Putnam Europe A (Nasdaq: PEUGX), Rydex Europe 1.25x (Nasdaq: RYAEX).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.