Evening HeadlinesBloomberg: IMF’s Lagarde Says Greek Euro Exit Would Be Expensive. International Monetary Fund Managing Director Christine Lagarde said a Greek exit from the euro area would be “extremely expensive” and hard. Still, the IMF has to be “technically prepared for anything because it’s our job,” she said in an interview with Dutch public television broadcast today. “I’m not suggesting that this is a desirable solution. I’m just saying that this is within the range of multiple options, one that we have to technically look at.” A Greek caretaker government...
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Evening HeadlinesBloomberg: UniCredit, Intesa Among 26 Italian Banks Cut by Moody’s. UniCredit SpA (UCG) and Intesa Sanpaolo SpA (ISP) were among 26 Italian banks that had their credit ratings cut one to four levels by Moody’s Investors Service, which cited weakened earnings and the country’s economic outlook. UniCredit, Italy’s biggest bank, had its long-term debt rating lowered one step to A3, Moody’s said in a spreadsheet on its website yesterday. Milan-based Intesa, the nation’s second- largest lender, also was downgraded to A3 from A2. “Italian banks are particularly...
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Style Outperformer:Large-Cap Growth +.13%Sector Outperformers: 1) Internet +.93% 2) Disk Drives +.91% 3) Oil Tankers +.56%Stocks Rising on Unusual Volume:OPNT, TJX, DKS, P, ACXM, IOC, GRPN, SVVC, GSVC, AMLN, MAKO, A and LENStocks With Unusual Call Option Activity: 1) UUP 2) SYY 3) GRPN 4) P 5) AMLNStocks With Most Positive News Mentions:1) OPNT 2) JBL 3) A 4) ZNGA 5) HDCharts:ETFs Rising on Unusual VolumeStocks Rising on Unusual Volume Read
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Style Underperformer:Mid-Cap Value -.43%Sector Underperformers:1) Coal -5.03% 2) Oil Service -1.63% 3) Gold & Silver -1.33%Stocks Falling on Unusual Volume:CHK, LFL, ANGI, BMA, FIO, EPAM, DB, ACAT, VTUS, PHMD, FRAN, WCRX, HMIN, JAZZ, FOSL, AUXL, PETD, LUFK, AKO/A, EWO, KNM, AL, GORO, VAL, CHKR, ANR and AVPStocks With Unusual Put Option Activity:1) EWJ 2) CX 3) LOW 4) EWG 5) EWYStocks With Most Negative News Mentions:1) BBY 2) PRU 3) CHK 4) JPM 5) AVPCharts:ETFs Falling on Unusual VolumeStocks Falling on Unusual Volume Read
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Bloomberg:Greek Vote Escalates Crisis as Schaeuble Raises Euro-Exit. Greece’s decision to return to the ballot box in the search for a government unleashed a hazardous new phase in Europe’s debt crisis, with German Finance Minister Wolfgang Schaeuble calling the vote a referendum on whether the country stays in the euro. Post-election attempts to form a ruling coalition in Athens broke down today after nine days, sending Greeks back to the polls next month with surveys giving the lead to an anti-bailout party that would tear up the conditions attached to 240 billion euros ($307 billion)...
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Broad Market Tone: Advance/Decline Line: Slightly HigherSector Performance: MixedVolume: Below AverageMarket Leading Stocks: Performing In LineEquity Investor Angst: VIX 21.63 -1.10%ISE Sentiment Index 96.0 +24.68%Total Put/Call 1.12 -10.40%NYSE Arms 1.57 +18.64%Credit Investor Angst:North American Investment Grade CDS Index 116.95 +1.86%European Financial Sector CDS Index 288.29 +2.79%Western Europe Sovereign Debt CDS Index 298.42 +1.64%Emerging Market CDS Index 301.63 +4.72%2-Year Swap Spread 38.5 +.5 basis pointTED ...
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Weekend Headlines Bloomberg:Euro Officials Begin to Weigh Greek Exit. Greece’s possible exit from the euro area moved to the center of Europe’s debt-crisis debate, with officials beginning to weigh the fallout of a withdrawal even as authorities in Athens struggled to form a government. Meetings brokered by Greek President Karolos Papoulias are set to continue today after Syriza, the largest anti-bailout party, rejected a unity government following last week’s inconclusive elections. The country where the 2 1/2-year-old crisis began moved closer to a new vote, and to the...
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Style Outperformer:Large-Cap Growth -.92%Sector Outperformers: 1) Defense -.31% 2) Retail -.40% 3) Coal -.44%Stocks Rising on Unusual Volume:GRPN, GME, IMOS, CHK, VTUS, FRAN, BMC, SYNC, VRTX and MDVNStocks With Unusual Call Option Activity: 1) PCS 2) ARCO 3) KERX 4) EUO 5) ACOMStocks With Most Positive News Mentions:1) SCHW 2) JACK 3) NOC 4) S 5) TCharts:ETFs Rising on Unusual VolumeStocks Rising on Unusual Volume Read
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Bloomberg:Greece Euro-Exit Debate Goes Public. European finance ministers grappled with the costs of keeping Greece in the euro area or letting it go, as Greece’s post-election political feud dragged on with little progress toward forming a government. German Finance Minister Wolfgang Schaeuble said Europe has done the “utmost” to prop up the financially stricken country, limiting any further room for leniency after about 240 billion euros ($308 billion) of aid pledges. “There’s no easy way for Greece, whatever the outcome will be,” Schaeuble told reporters before a meeting of...
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Style Underperformer:Small-Cap Growth -1.0%Sector Underperformers:1) Oil Tankers -3.40% 2) Steel -2.14% 3) Construction -1.82%Stocks Falling on Unusual Volume:TGA, BCS, TI, PBR, BBL, RIO, STMP, KSU, ACOM, GCOM, ACFN, MAKO, CPNO, PSSI, FMCN, CNSL, ANIK, RGLD, APEI, CASY, MPEL, PHMD, HCII, IPGP, VLCCF, TWGP, LMCA, TGA, CCH, GGC, WPC, EWQ, AAP, BCA, LUK, BID, NUS, MAIN and CFXStocks With Unusual Put Option Activity:1) CTRP 2) XME 3) NBR 4) IOC 5) CITStocks With Most Negative News Mentions:1) TIF 2) JPM 3) PNC 4) GCI 5) ICECharts:ETFs Falling on Unusual VolumeStocks Falling on Unusual...
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