Indices are fighting bad housing data and trying to maintain green.....
Worldwide index are GREEN for 2nd day.....which is saying something has changed for better !!!!
Gold is UP $4.60
Crude UP 18 cents @ $59.77
Canadian $ UP 45 tick against US$...near recent highs.....
VIX @ 29.20...lowest point since hitting 80+++..how low can it go...16 maybe???
In my portfolio :
Doubled my position in TLM....
Portfolio is EGLE,MPEL,PMCS,PALM,TLM.....
I am 90% invested......
MPEL reports before open Wed....
PALM announced PRE sales starting June 6th @ $199.....sell in the news is the story right now???
@12.17 following are RED :
PALM,NDAQ,RIMM,IBN,CMED,GOOG,BIDU,
MA,V,PHM,CTX,RCI,WYNN,LVS,VAR.....
Shipping stocks got upgraded today....they are all UP 9%.....
Most stocks are UP !!!!
BLOG does NOT give buy or sell.
Saleem
2 comments:
interesting story about GE:
General Electric Co. (GE) said Tuesday that it would take at least two years to jettison unwanted assets from its battered finance arm, though Chief Executive Jeff Immelt said capital markets are improving by the day.
Immelt also said the company has already met its corporate funding needs for 2009 and may even pre-fund all of its 2010 target by the end of the year.
In a wide-ranging conference presentation, Immelt was upbeat about the outlook for its sprawling industrial businesses, though noted government stimulus efforts around the world had yet to generate fresh profits.
GE's shares fell to an all-time low in March as losses at the GE Capital finance arm forced it to cut its dividend and led to the loss of its coveted AAA credit rating.
The restructuring of the loss-making GE Capital business remains the focus for investors, and Immelt provided additional detail on efforts to shrink a unit weighed by write-offs and loan losses.
GE Capital's asset base is slated to shrink to about $400 billion to $450 billion, from about $540 billion today. Immelt said Tuesday that "it's going to be a couple of years" before the company sheds the estimated $115 billion or so in assets, with further details expected at a July 28 presentation.
With investors still wary about any further deterioration in asset quality at the unit, Immelt also reiterated that the company didn't need fresh equity, though it may inject more funds if needed into GE Capital next year.
Immelt said GE already has met its target of $45 billion in debt issuance for 2009, helped by improved capital-market conditions that have allowed it to issue unguaranteed debt over the past month.
He also said GE has pre-funded about $7 billion of its $40 billion target for 2010, and could raise the entire 2010 amount before 2009 is out.
"We just think we can completely take 2010 off the table," he said, noting that the credit crisis has reduced competition and created more opportunities for GE Capital's commercial lending unit, which he noted is targeting $45 billion to $55 billion in new business.
Immelt also said GE has set aside about $10 billion for customer financing to protect its $170 billion industrial backlog, and only used about $500 million during the first quarter.
Energy and health care are seen as key drivers for the industrial units, and Immelt said future acquisitions would likely focus on these areas where GE already had substantial bulk.
Its NBC Universal unit has been the weakest of the non-financial businesses, and Immelt described shifting talk-show host Jay Leno to a new 10 p.m. show as its "big bet," voicing optimism it will pay off.
"The early sign is that we're going to be able to get good advertising support for Leno at 10," Immelt said.
Hi Madmax,
Thanks for GE & Jay Leno update..Nice to know that Immelt is happy about Ad for Leno show...
PS...I am a very big fan of Jay Leno !!!!
Saleem
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