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Tesla stock rises ahead of earnings

$TSLA - Tesla reports earnings Thursday. It's the next stock most likely to gap up or gap down after they announce.  Casino action at its finest!I've often remarked that I haven't seen a Tesla car on the road. I finally did last...



Redacted Version of the July 2014 FOMC Statement

June 2014July 2014CommentsInformation received since the Federal Open Market Committee met in April indicates that growth in economic activity has rebounded in recent months.Information received since the Federal Open Market Committee met in June...



Bank of America ordered to pay damages of $1.27 billion for Countrywide fraud

A federal judge on Wednesday ordered Bank of America to pay $1.27 billion in damages over thousands of defective mortgages sold by its Countrywide Financial unit, delivering a win for the government in one of the few major trials stemming from the...



Stocks Pare Losses After Fed Statement



Growth Rebound Stokes Fed Debate

Federal Reserve officials delivered a modestly more upbeat assessment of the economy Wednesday amid a second-quarter growth rebound and deepening debate inside the central bank about when to start raising interest...



'Real GDP increased at 4.0% Annualized Rate in Q2'

Bill McBride at Calculated Risk: BEA: Real GDP increased at 4.0% Annualized Rate in Q2, by Bill McBride: From the BEA: Gross Domestic Product: Second Quarter 2014 (Advance Estimate) Annual Revision: 1999 through First Quarter 2014 Real gross domestic...



The Daily Docket: Argentina Just Hours From Debt Default

A group Argentina banks are working on a last-minute plan to help the country avoid default, The Wall Street Journal reports. As Love Culture Inc. prepares for a Wednesday bankruptcy auction, the clothing retailer is asking a judge to rule that its...



STOCKS FALL, RUSSIA HIT WITH FRESH SANCTIONS: Here's What You Need To Know (DIA, SPX, SPY, QQQ, UPS, PFE, MRK, WIN, FTR, TWTR)

Stocks closed the session mixed, but little changed, as some economic data reported this morning came in mixed, another wave of corporate earnings were reported, and the U.S. and EU announced sanctions against Russian companies. First, the...



Hedge Fund News: Steven Cohen, Warren Buffett & Farallon Capital

Profits Soaring After Disgrace at Cohen’s Hedge Fund (NYTimes) Three months after his once-powerful hedge fund entered a guilty plea to insider trading charges, Steven A. Cohen is doing quite well. This summer, Mr. Cohen and his family rented a...



Beyond Energy Efficiency

The Wall Street Journal had a good front-page article this week about the challenges facing the nation’s utilities. For the longest time, electricity sales and consumption went hand in hand with economic growth. In the last several years, not so...



As Talks Falter, Bond Default by Argentina Appears Likely

Argentina is likely to default on billions of dollars of bonds on Wednesday as talks between both sides appeared to break...



The Switchboard: Why a former NSA director thinks he is worth $1 million a month

Published every weekday, the Switchboard is your morning helping of hand-picked stories from The Switch team. The NSA's Cyber-King Goes Corporate. Former National Security Agency director General Keith B. Alexander thinks he's worth a...



Calls for bankers to swear an oath

Over 2,000 years since the the Hippocratic Oath was introduced there are calls for bankers to follow suit, in an effort to prevent another...



One of My Favorite Posts

From Coyote today, which in my experience not only applies to blog posts, but to more formal settings like particular lectures or even entire courses. But I don’t want to be removed from polite company, so I’ll say only a little here....



Adult docs may not ask about guns, but pediatricians do

Kevin Drum dissents on my earlier NYT piece today: I don’t often disagree with Carroll, but I think I might here. Not about Florida’s law: that really is ridiculous. The state may have an interest in making sure doctors...



My Ten-Dollar Offer to the Halbig Truthers

There's no question that the statutory text of Obamacare contains a mistake. In one of its sections, it authorizes federal subsidies only for taxpayers who enroll through a state-based exchange, not for those who enroll through the federal...



JANA Partners' Letter to PetSmart's Board

Barry Rosenstein's activist hedge fund firm JANA Partners has filed an amended 13D with the SEC regarding their position in PetSmart (PETM).  They currently own 9.8% of the company and are the largest shareholder.Rosenstein's letter to...



Putin's Next Move

The Russian president isn't checkmated quite yet. But the downing of MH17 has left him with few good...



Housing Slowdown? The Case-Shiller Index in Five Charts

As expected, the pace of U.S. home price gains has slowed this year. Prices rose 9.3% from a year earlier in May in 20 cities tracked by the Standard & Poor’s/Case-Shiller index, down from the 10.8% increase reported last month for...



Over at Project Syndicate: The Internet's Next Act

Over at Project Syndicate Ten years ago we had ridden the bust of the internet bubble, picked ourselves up, and continued on. It was true that it had turned out to be harder than people expected to profit from tutoring communications technologies. That,...



Banks Cash In on Mergers Intended to Elude Taxes

Wall Street banks are estimated to have collected, or will soon collect, nearly $1 billion in fees over the last three years advising and persuading American companies to move the address of their headquarters...



Links for 7-29-14

Circles of Influence - Paul Krugman If minimum wages, why not maximum wages? - mainly macro Richard Fisher Wrongly Warned of Inflation 5 Times - New Republic Paul Ryan Would Create Massive Gov.t Bureaucracy - Mike the Mad Biologist Featured Blog:...



Dollar Tree Buying Family Dollar Could Be Bad News For Coca-Cola And Clorox

Dollar Tree announced today that it is buying Family Dollar.  Together, the dollar stores will be bigger than current industry leader Dollar General.  But the merger could "exert pressures on major food, household goods, and drink...



House Republicans Pass Bill to Lower Taxes on the Rich and Raise Taxes on the Poor

So what are Republicans in the House of Representatives up to these days? According to Danny Vinik, they just passed a bill that would reduce taxes on the rich and raise them on the poor. I know, I know: you're shocked. But in a way, I think this...



Tech Today: Zillow Buys Trulia, Apple Bitcoin App Back, New iPhone Leaks, JNPR Upgrade

Here are some things going on today in your world of tech: Shares of Zillow (Z) are falling more than 5% after the online real estate company announced it is buying rival Trulia (TRLA) for $3.5 billion in stock, which jumped on...



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Tech Today: Zillow Buys Trulia, Apple Bitcoin App Back, New iPhone Leaks, JNPR Upgrade

Here are some things going on today in your world of tech: Shares of Zillow (Z) are falling more than 5% after the online real estate company announced it is buying rival Trulia (TRLA) for $3.5 billion in stock, which jumped on...



The Daily Docket: Argentina Just Hours From Debt Default

A group Argentina banks are working on a last-minute plan to help the country avoid default, The Wall Street Journal reports. As Love Culture Inc. prepares for a Wednesday bankruptcy auction, the clothing retailer is asking a judge to rule that its...



Bank of America ordered to pay damages of $1.27 billion for Countrywide fraud

A federal judge on Wednesday ordered Bank of America to pay $1.27 billion in damages over thousands of defective mortgages sold by its Countrywide Financial unit, delivering a win for the government in one of the few major trials stemming from the...



Stocks Pare Losses After Fed Statement

Read full story for details. ...



Growth Rebound Stokes Fed Debate

Federal Reserve officials delivered a modestly more upbeat assessment of the economy Wednesday amid a second-quarter growth rebound and deepening debate inside the central bank about when to start raising interest...



STOCKS FALL, RUSSIA HIT WITH FRESH SANCTIONS: Here's What You Need To Know (DIA, SPX, SPY, QQQ, UPS, PFE, MRK, WIN, FTR, TWTR)

Stocks closed the session mixed, but little changed, as some economic data reported this morning came in mixed, another wave of corporate earnings were reported, and the U.S. and EU announced sanctions against Russian companies. First, the...



Banks Cash In on Mergers Intended to Elude Taxes

Wall Street banks are estimated to have collected, or will soon collect, nearly $1 billion in fees over the last three years advising and persuading American companies to move the address of their headquarters...



Hospira Said To Be in $5 Billion Inversion Deal with Danone

The Danone deal could be the biggest acquisition in Hospira’s history and would enable the company to move its domicile abroad for tax purposesIllinois-based Hospira, Inc. (NYSE:HSP) is said to be in talks with Danone SA (ADR) (OTCMKTS:DANOY)...



Tuesday: Yellen, Retail Sales, NY Fed Mfg Survey

It is dry in California, from CBS: California Gears Up To Vote On Water Wasting Law TuesdayThe State Water Resources Control Board is set to vote Tuesday on tough new rules that would allow any public employee empowered to enforce laws to write tickets...



Barrage of rockets fired into Israel...

Barrage of rockets fired into Israel...(First column, 14th story, link)Related stories:Netanyahu calls father of murdered Palestinian teen...PM's future in doubt as coalition partner ends arrangement...Fierce clashes in Jerusalem revive fears of...



JANA Partners' Letter to PetSmart's Board

Barry Rosenstein's activist hedge fund firm JANA Partners has filed an amended 13D with the SEC regarding their position in PetSmart (PETM).  They currently own 9.8% of the company and are the largest shareholder.Rosenstein's letter to...



Richard Branson Strikes Again: Virgin America Files for IPO

Richard Branson is coming to America yet again. Branson’s Virgin Group Ltd. has filed its paperwork with the U.S. Securities and Exchange Commission (SEC) for its Virgin America Inc. to...



As Talks Falter, Bond Default by Argentina Appears Likely

Argentina is likely to default on billions of dollars of bonds on Wednesday as talks between both sides appeared to break...



Ex Yukos Shareholders Win $50B Landmark Case Against Russia

The $50 billion in damages against Russia is one of the biggest arbitration awards ever made against a sovereign stateThe Hague’s arbitration court ruled Monday that Russia owes former shareholders of the now-defunct oil giant Yukos over $50...



Calpers Pulls Back From Hedge Funds

The largest public pension fund in the U.S. is expected to cut its hedge-fund investments this year by 40%. Other public pensions also are cutting or reconsidering investments in hedge...



Tesla stock rises ahead of earnings

$TSLA - Tesla reports earnings Thursday. It's the next stock most likely to gap up or gap down after they announce.  Casino action at its finest!I've often remarked that I haven't seen a Tesla car on the road. I finally did last...



Some Home Builders Say First-Time Buyers Returning, Others Not Sure

The anticipated return of first-time buyers to the housing market remains, like many economic indicators, prone to fits and starts. This week, two more leading home builders differed on whether first-timers are on their way back. PulteGroup Inc. stirred...



Housing Slowdown? The Case-Shiller Index in Five Charts

As expected, the pace of U.S. home price gains has slowed this year. Prices rose 9.3% from a year earlier in May in 20 cities tracked by the Standard & Poor’s/Case-Shiller index, down from the 10.8% increase reported last month for...



Putin's Next Move

The Russian president isn't checkmated quite yet. But the downing of MH17 has left him with few good...



Hedge Fund News: Steven Cohen, Warren Buffett & Farallon Capital

Profits Soaring After Disgrace at Cohen’s Hedge Fund (NYTimes) Three months after his once-powerful hedge fund entered a guilty plea to insider trading charges, Steven A. Cohen is doing quite well. This summer, Mr. Cohen and his family rented a...