PLEASE NOTE: The stories reported below are for informational purposes only to educate our clients on the weekly news stories; real, funny, educational, and otherwise. The source of most news will stem from the Wall Street Journal (WSJ), Financial Times (FT), Barrons (B), Business Week (BW), and Bloomberg (Bbg). The purpose of this is NOT to solicit any offers to buy or sell stocks, mutual funds, commodities, or other financial assets – merely to report the news. Please call us to discuss any investment questions you may have. Additionally, we will not take sides in any political or religious news that we report, we will only present the objective facts, and perhaps opine on them from a neutral perspective. Finally, the opinions represented are those of David Abuaf, and not necessarily of Forman Investment Services or Raymond James or its affiliates.
A quick list of shortcuts: DoJ (Dep’t of Justice), ECB (European Central Bank), EZ (Euro Zone), EU (European Union), BoE (Bank of England), BoJ (Bank of Japan), example: BoX (Bank of X country), SCOTUS (Supreme Court), Ccy (Currency), WH (White House), HY (high yield – bonds), IG (investment grade – high quality bonds), OECD (Org for Economic Coopeartion & Dev), IMF (Int’l Monetary Fund)
News for Week of 6/01/2015 – 6/5/2015
Government / Political / Economic
Drug shortages in the US are frustrating doctors and patients, as the short supply of drugs has risen 74% over the past five years and includes cancer treatments and antibiotics.
Afghanistan’s president threatened to reverse diplomatic outreach unless Pakistan curbs the Taliban and puts its leaders under house arrest.
A passenger ship carrying 458 people, many of them elderly tourists, sank in China’s Yangtze River.
Apparently the ship was previously sited over safety concerns!
And now officials are blaming a cyclone for the tragedy with meteorologists claiming winds up to 100 miles per hour. My take on this? “Uhmmm….”
What’s funny is that the boat’s crew claimed that, but not ONE single passenger who survived even mentioned that. Moreover, it’s the Yangtze River, there are a LOT of cruises going down, did other boats not encounter that!?
Sepp Blatter is stepping down as head of FIFA after all the corruption scandals and arrests. I WANT to believe him, but he also promised to never run for a 4thor 5th presidency!
Now real talk about Qatar hosting the World Cup are being discussed even MORE openly.
General Markets / Economic
OPEC’s pricing leverage is weakening as they are expected to leave oil output unchanged this week, a contrast with the cartel’s past muscular role as a swing producer that could even out price bumps.
Auto Makers posted strong US May sales.
The SEC is eyeing a broader “clawback” provision of compensation for management of companies that restate their results!
US worker productivity fell at a 3.1% annual rate in the first quarter.
Intel is nearing a deal to acquire Altera for $17B, continuing a wave of consolidation in the semiconductor industry.
GE launched the bidding process for a $40B chunk of its US commercial lending operation.
Harley Davidson said its battery powered motorcycle is unlikely to hit the market for at least two or three years.
Ashley Furniture is exploring a sale that could value the family-owned Wisconsin furniture maker at more than $3B.
Dish Network is in talks to merge with T-Mobile.
Yahoo won the rights to the NFL’s first streaming-only broadcast of a football game. If this succeeds, bravo (finally) to Yahoo, otherwise, Yahoo may die very quickly.
Well wouldn’t ya know! The Feds are taking aim at biker gang’s through a novel legal tactic to strike at the heart of what they consider a notorious outlaw motorcycle gang – using trademark law to take away their logo!
Some big banks are either scrapping or considering paring back the use of voicemail!
Harold Geisler is looking to turn a new page in writing by allowing anyone on a computer to scribble with the curves and flourishes of the world’s greatest thinkers and writers. The new font types include Albert Einstein!
With all the news of the drought in California (yet again!) people are still resorting to painting their lawns to look green. Why don’t they put a big bounty on the idea and offer it to smart engineers? I mean, not even the Middle East deals with problems like these and they live in a DESERT!
I don’t know if it was ever stated in the movie, but in the book Jurassic Park, they had identified that a specific frog species – of which their DNA was combined with the DNA of the dinosaurs in the stomachs of the insects in the amber – could reproduce asexually if they were unable to find a match. Well, a research study published this week found that SAME ability in the endangered smalltooth sawfish!
The tallest redwood in California’s Muir Woods was previously believed to be more than 1,500 years old, but new core samples tell a different story of it being only 777 years old
Godzilla has been granted ‘special residency’ status as a citizen of Japan.
We all know how bad the TSA is…. (I used to travel 2-4 times A WEEK via airplane for about a year and not ONE single TSA agent ever found my toothbrush/toothpaste/other liquids/gels stuffed on the OUTSIDE of my carry-on. That is why I never take it out). Well after an internal investigation revealed that TSA agents were 95% ineffective at discovering banned items, the head of the TSA stepped down.
This week, French authorities began removing hundreds of thousands of padlocks from Paris’ pont des Arts bridge.
Oh irony of ironies! Thanks to the Senate Bill 11, passed this week, Texas college students can now carry concealed handguns beginning August 1, 2016. The irony? That’s the 50th anniversary of Charles Whitman’s famous shooting spree at University of Texas.
This information is not a complete description of the securities, markets, or developments discussed and has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein.