Prepare to sell Boeing?
Share price moved below the 25 day and 75 day average. It is still far from the 200 day moving average though. Its divergence is starting to tread the negative region. If it won't show positive gains next week, we better sell it.
Google shows sign of weakness also compared to the other stocks. However, the moving averages are still on safe zones to ever give a sell signal. Its divergence is still positive.
Saturday, March 31, 2007
Friday was so confusing.
Stocks end mixed on last day of quarter (AP)
AP - Stocks rose, dropped and then recovered Friday — just as they did over the course of the first quarter, as Wall Street showed nervousness about rising inflation and dollar weakness but took solace in resilient consumer spending and slow but steady economic growth.
Oil above 69 on Iran standoff
Oil spikes above $69 on week-old Iran standoff
LONDON -- The week-old standoff between London and Tehran over the Iranian detention of 15 British naval personnel sent oil prices surging past $69 here -- a near seven-month high -- and analysts warned they could rise further.
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Consolidation after Easter.
Philippine shares to consolidate ahead of Easter
MANILA, Philippines -- The Philippine stock market will continue consolidating next week with most investors on vacation for the Easter holidays, dealers said Friday.
***After Easter, the stocks will fall. Too much bad news abroad.
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Philip Morris Parent company pays
Philip Morris Parent Pays Full $3.5 Billion to States in ’98 Deal
The move by Altria Group Inc. may bolster the prices of municipal bonds backed by the payments.
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Cancer vaccine stocks
Cancer vaccine stocks soar on Dendreon panel vote (Reuters)
Reuters - Shares of cancer vaccine makers soared on Friday after an advisory panel to the U.S. Food and Drug Administration recommended approval of a product made by Dendreon Corp.
Sentiment Index fall to a 6 month low
Economy - Friday (Investor's Business Daily)
Investor's Business Daily - The Univ. of Mich.'s sentiment index fell to a revised 88.4 from 91.3 in Feb., a 6-month low. The early March reading was 88.8. Worries over rising gasoline prices and slower income gains were cited. The survey's current conditions index fell to 103.5 from Feb.'s 106.7. The consumer expectations index hit a 6-month low of 78.7, down from 81.5 last month.
China news eclipses data in Wall Street
Wall St indexes flat as China news eclipses data (Reuters)
Reuters - U.S. stocks ended the last session of a turbulent quarter little changed on Friday as word the United States had imposed duties on some Chinese imports offset strong economic news and a pullback in oil prices.
Treasuries on defense
Treasuries on defensive (FT.com)
FT.com - US and European government bonds benefited from a brief surge of safe haven buying on Friday, as the prospect of growing tension in the Middle East offset stronger than expected data on the US economy.
US slides again on inflation and trade worries
US stocks slide on trade, inflation worries
NEW YORK - Wall Street retreated Friday, the last trading day of a turbulent first quarter, with investors displaying nervousness on news of US economic sanctions against China and rising inflation.
Friday, March 30, 2007
Energy Deal
US, Saudi, Chinese firms announce $5 billion energy deal (AFP)
AFP - US oil giant Exxon Mobil, Saudi Aramco and Sinopec announced here Friday two joint ventures worth about five billion dollars to operate 750 service stations and a petrochemical refinery in China.
Wall Street
Stocks edge higher at open (AP)
AP - Stocks opened slightly higher Friday, the last trading day of the first quarter, as investors were encouraged by a report showing consumers spent more as their incomes rose in February but wary about data indicating that core inflation rose that month at the fastest rate since August.
Consumer spending is high
Consumer, construction spending rise (AP)
AP - Consumers spent more in February while construction spending rose by the largest amount in 11 months, the government said Friday, in reports that should dispel some of the concerns about the health of the economy.
FTSE
FTSE edges lower as Iran fears offset M&A (FT.com)
FT.com - The FTSE 100 retreated by the end of morning trade on Friday, dragged lower by weakness in market heavyweight Vodafone and amid concerns over mounting tensions between Britain and Iran.
European stocks drop amid high oil prices, takeover news (AFP)
AFP - Europe's main stock markets mostly fell in late morning trade as oil prices remained high and amid fresh takeover announcements, dealers said Friday.
UN cites lack of accountability
The Nation: UN report cites lack of accountability
While President Gloria Macapagal-Arroyo's leadership showed motivation to solve cases of extrajudicial killings, United Nations (UN) special rapporteur Philip Alston said "accountability mechanisms" in the government remain largely ineffective and key players approach human rights concerns passively.
**I think we should graduate more accounting majors. Just kidding.
LPG will rise
The Nation : Dealers to hike LPG prices
After slashing prices of liquefied petroleum gas (LPG) products twice this month, dealers are set to hike prices by P1.50 per kilogram on Monday.
What else is new?
Stocks get past 3200
Stock Market : Stocks get past 3,200 points on window dressing
The World Bank will extend $600 million in annual assistance to the Philippines for the next two years as a sign of confidence.
AC news
Corporate News : Ayala Corp. plans P46.7-B capex
Ayala Corp. is planning to spend about P46.7 billion this year from P42.8 billion last year as it continues to expand the operations of its major subsidiaries and affiliates.
World Bank assists RP
Headline : World Bank increases assistance to RP
The World Bank will extend $600 million in annual assistance to the Philippines for the next two years as a sign of confidence.
Higher Spending drives the market up
Stocks Rise After Spending Data
Stocks climbed higher Friday, the last trading day of a turbulent first quarter, as investors were encouraged by a rise in consumer spending and incomes and data showing growth in Chicago-area manufacturing.
Getting high with milk
Milk prices expected to rise 9 percent (AP)
AP - Dairy economists predict the retail price of milk could rise as much as 30 cents per gallon — a 9 percent jump — by fall. The reasons include rising fuel and feed costs for farmers and increasing demand for milk products around the globe.
Thursday, March 29, 2007
German Unemployment fall by 114k
German unemployment falls to 4.108 million in March (AFP)
German is hiring a lot these days.
AFP - The number of people out of work in Germany, the eurozone's biggest economy, fell by 114,000 to 4.108 million in March, the Federal Labour Agency said Thursday.
German is hiring a lot these days.
Sanyo President ousted
Sanyo President Muscled Out By Investors
Resignation ends 60 years of Iue family control of the ailing electronics maker.
McDonald's alleged to break wage laws
McDonald's, Yum! Alleged To Break Chinese Wage Laws
The U.S. fast-food giants have been accused of underpaying workers and violating rules on working hours.
Porsche wants Volks
Porsche Makes a Bid for the Rest of Volkswagen
The $47.7 billion bid was aimed at leaving Porsche with a controlling stake of Volkswagen rather than full ownership.
Growth Rate Revised
US growth revised up to 2.5 percent in 4th quarter (AFP)
AFP - The US economy expanded a bit faster than previously predicted in the fourth quarter, with growth estimated at a 2.5 percent pace in revised data released Thursday.
Shares to slide some more
Shares seen lower on Wall St. slide
MANILA, Philippines -- Share prices are expected to open lower after Wall Street's fall overnight following comments from Federal Reserve chairman Ben Bernanke that the outlook for the US economy has become more uncertain, reviving fears the world's largest economy may slip into recession, dealers said.
***no good news to curb the slide. It will indeed move down some more.
$1.9Billion Tax
India Hits Hutchison For $1.9 Billion In Taxes
Demands it pay capital gains tax on sale of stake in Hutchison Essar to Vodafone.
***I doubt if they will be successful here.
Citi in China
Citigroup expands in China (Reuters)
Reuters - Citigroup Inc. plans to double its number of outlets in China this year to more than 30, Chairman and Chief Executive Charles Prince said on Thursday.
Stock Market slides
Stock Market : Shares track Wall Street's slide overnight
Share prices closed lower yesterday as they tracked Wall Street's weaker performance overnight.
(Business World) Beverage War
Headline Beverage war brewing
Following the breakup of a partnership, beverage giants San Miguel Corp. and The Coca-Cola Co. have now turned competitors, each pursuing separate strategies in an effort to capture a bigger share of the ever-shifting domestic beverage market.
World oil prices surge
World oil prices surge amid rumors of clash in Iran
NEW YORK -- World oil prices shot up Wednesday to six-month highs as Britain froze ties with Iran and rumors swirled about a possible military clash between the West and the Islamic Republic.
BDO and EPCI reported double digit profit growth in 2006
2 merging banks post double-digit profit growth
MANILA, Philippines -- Merger partners Banco De Oro Universal Bank and Equitable PCIBank both reported double-digit profit growth for 2006, fueling optimism that the merger will yield even better results.
Accenture beats expectation
Accenture Rises After Beating Expectations
The company beat the Street on quarterly results and received an analyst upgrade.
Stocks Fall
Stocks Fall Amid Inflation Concerns (AP)
AP - Stocks fell Wednesday after Federal Reserve Chairman Ben Bernanke chided investors who may have looked past long-standing concerns about inflation. The Dow Jones industrials fell nearly 100 points, the third straight session of declines.
Fed Says "Uncertainties" Have Grown
Fed Chairman Says ‘Uncertainties’ Have Grown
But Ben S. Bernanke reiterated his view that the United States economy is likely to expand at a moderate pace.
Wednesday, March 28, 2007
Economic Uncertainty
Bernanke says economic uncertainty has increased (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke said on Wednesday uncertainties surrounding the U.S. economic outlook had increased recently, and that future interest-rate decisions by the Fed would depend on how the economy evolves.
Durable goods weaker than expected
Durable goods weaker than expected (Reuters)
Hint after hint of a coming slowdown floods the market. We should be wary.
Reuters - Orders for U.S.-made big-ticket items were weaker-than-expected in February as the world's richest economy hit hard by troubles in the housing sector set off the year at a slower pace, a government report on Wednesday showed.
Hint after hint of a coming slowdown floods the market. We should be wary.
technorati tags:indicators
Nikkei falls for the 2nd day
Japanese stocks fall for 2nd day (AP)
AP - Japanese stocks fell for a second day Wednesday investors took profits in steels, real estate developers and banking issues following the market's recent gains.
technorati tags:nikkei
Porsche buys more volkswagen
Porsche Completes Purchase of More Volkswagen Shares
http://www.nytimes.com/2007/03/28/business/worldbusiness/28wire-porsche.html?ex=1332734400&en=951116323369b228&ei=5088&partner=rssnyt&emc=rss
European stock markets
European stock markets slip on high oil prices (AFP)
Reuters - NYSE Stocks were set to open lower on Wednesday as worries about an escalation in tensions between Iran and the West sent oil prices up sharply and data on durable goods orders underscored weakness in the economy.
AFP - European stock markets slid on Wednesday on surging crude oil prices, after losses across other global indices, dealers said.
Reuters - NYSE Stocks were set to open lower on Wednesday as worries about an escalation in tensions between Iran and the West sent oil prices up sharply and data on durable goods orders underscored weakness in the economy.
Japanese sentiments improve slightly
Japanese traders' sentiments improve slightly
Japanese business sentiments towards the Philippines slightly improved this month but remained in the negative territory, the latest poll by the Japan External Trade Relations Organization showed.
Stock market is up
Stock Market : Buying of select blue chips drives stocks up
Share prices yesterday rose as investors hunted for bargains in select index stocks, allowing the bourse to recover from Monday's slide.
technorati tags:pse
CEI news
Corporate News :Crown Equities purchases 5% stake in toll operator's owner
Listed holding firm Crown Equities, Inc. purchased a 5% stake in MTD Manila Expressways, Inc. for P170 million.
technorati tags:CEI
ADB expects RP to grow at the same pace
Headline :RP to buck regional slowdown
Fiscal gains notwithstanding, the Asian Development Bank (ADB) expects the Philippines to grow at the same pace as last year but at the same time buck a regional slowdown.
Gold at 4 week high.
(UPDATE) Gold at 4-week high on oil, eyes Bernanke
SINGAPORE -- Gold prices rose to their highest level in almost four weeks on Wednesday, in sympathy with surging crude oil which raises the metal's allure as a hedge against inflation.
This is understandable, since the market lovers are dumping their stocks, for a different investment package. The favorite? Gold.
In "Stock Market Logic", it was found out that the increase in prices of Gold is inversely proportional to the increase in stock prices.
technorati tags:gold
ALI news
Ayala Land to invest P9B in residential projects this year
MANILA, Philippines -- Ayala Land Inc will invest around P9 billion in building new homes this year, setting its sights on the average of P50 billion in cash remitted every month by Filipinos working abroad, company officials said.
technorati tags:ali
Investors flock to the Philippines
FX investors buy Philippine growth story
SINGAPORE -- As economic fundamentals overshadow the lure of high yield, investor optimism is set to push the Philippine peso even higher. This is despite the inherent risk of volatility in the run-up to the country's congressional elections in May, analysts say.
Indeed, high yield on investments, plus growing concerns on US markets, will push investors to the Philippines. Problem with this hot money? They will go as they come.
technorati tags:currency
Bright mangoes for bright future
Agri chief sees bright future for RP mangoes
THE DEPARTMENT of Agriculture sees brighter prospects for the country's mango industry this year after the United States cleared the way for the import of mangoes grown anywhere in the Philippines to Guam and Hawaii.
technorati tags:mango
Tuesday, March 27, 2007
BDO profits up
Banco de Oro, Equitable profits up sharply
MANILA, Philippines -- Banco de Oro Universal Bank and Equitable PCI Bank reported double-digit growth in earnings for 2006, and said they expected the strong performance to be maintained in 2007 when the firms merge.
Stock Market 3/27/07
Stock Market: Investors take profits ahead of Holy Week
Share prices closed lower yesterday as cautious investors locked in profits while waiting for a fresh positive lead. Investors also took profits ahead of the Holy Week and in preparation for share offerings, dealers said.
As I said...
technorati tags:phisix
Peso at 6 year high versus the dollar
Banking & Finance: Peso nears 6-year high versus dollar
The peso yesterday hovered near a six-year high against the dollar, as a surprisingly strong US home sales data prompted a bout of heavy selling of the greenback.
Meralco raises capital stock
Corporate News: Meralco raising capital stock, building three BPO facilities
Power distributor Manila Electric Co. (Meralco) yesterday approved an increase in the company's authorized stock to P15.5 billion from P13.8 billion previously.
Japan firms snubs RP
Headline: Japanese IT firms shun Philippines
Cautious due to "bad perception" of the Philippines, small- and medium-scale Japanese IT firms — though in need of manpower — have not outsourced to the country, even though the Japan External Trade Organization [JETRO] has high regard for Filipino IT engineers.
Intel plans plant in China
Intel to Build Advanced Chip-Making Plant in China
The $2.5 billion chip-manufacturing plant is set to become the company’s first major production site in Asia.
ADB research on developing economies
Asia's developing economies seen slowing (AP)
AP - Asia's developing economies will slow over the next two years, the Asian Development Bank projected Tuesday, but the more moderate pace is seen stabilizing the region and putting it on better footing for solid growth in the future.
In 2008, China's growth is expected to dip to a still strong 9.8 percent, which would snap five straight years of double-digit growth, the bank said.
India booked a growth rate of 9.2 percent last year, its highest since 1988. But it's seen easing down to 8 percent in 2007 and 8.3 percent the following year.
Southeast Asia, which includes Thailand, Singapore and Malaysia, is projected to slow to 5.6 percent this year and hit 5.9 percent in 2008. Their economies logged 6 percent growth in 2006, the ADB said.
Inflation throughout developing Asia — a group of 43 countries — is expected to ease to an average 3.0 percent this year from 3.4 percent last year, before rising back to 3.2 percent in 2008.
Wal-Mart increases charitable donations
Wal-Mart increases charitable donations (AP)
AP - Wal-Mart Stores Inc. increased its U.S. charitable giving 10 percent last year to $272.9 million, the world's largest retailer said Tuesday, likely defending its position as the country's largest corporate donor of cash.
Good image. I don't know what the ordinary stockholders think.
Futures slip after Lennar, stocks open lower today
Futures slip after Lennar; data eyed (Reuters)
Reuters - Stock futures dipped on Tuesday as home builder Lennar Corp. abandoned its 2007 forecast, darkening the housing market picture, and investors stayed cautious before consumer confidence data.
More bad news for US economy
Consumer sentiment dips in March (Reuters)
To show the growing concerns of a slowdown, the American consumer sentiment slipped to its lowest in six months. In related events, the dollar also fall sharply last Friday after an inflation snapshot triggered renewed concerns about the US economy, traders said (AFP news).
Reuters - U.S. consumer sentiment slipped to its lowest in six months in March, as worries about declining stock prices and the health of the housing market shook consumer's confidence in the economy, a report showed on Friday.
To show the growing concerns of a slowdown, the American consumer sentiment slipped to its lowest in six months. In related events, the dollar also fall sharply last Friday after an inflation snapshot triggered renewed concerns about the US economy, traders said (AFP news).
technorati tags:US, economy, consumer, sentiments, dollar
China boom
Investors beware as China charts consumer boom (Reuters)
Reuters - China is on course to become the world's second-largest consumer market by 2015, but foreign firms looking to tap the retail boom must brace for a bumpy ride and possible price wars, Credit Suisse said on Friday.
Feds hold the key interest rate steady
With new message, Fed signals US economy still on track (AFP)
AFP - The Federal Reserve held a key interest rate steady Wednesday and largely brushed off fears about a downward spiral in the US economy while backing away from a threatened rate hike.
technorati tags:indicators, US, key, rates
Jobless claims fall
Jobless claims unexpectedly fell last week (Reuters)
Reuters - WASHINGTON (Reuters) -The number of Americans filing new claims for jobless benefits unexpectedly fell 4,000 last week to its lowest in six weeks, government data showed on Thursday in a report underscoring a healthy labor market.
technorati tags:jobless, claims, indicators, US
Lennar earnings drops by 73%
Lennar 1Q profit slides 73 percent (AP)
AP - Lennar Corp., one of the nation's largest homebuilders, said Tuesday its first-quarter profit tumbled 73 percent on continued softness in the housing market, and warned it doesn't expect to meet its 2007 earnings guidance.
This may be a slowdown signal. The housing sector is already showing signs of recession. Uh-oh. Did I say recession? Let us hope not. Remember, when the US Market sneezes, the whole world will catch a cold.
Borders losses money
Borders posts a 4Q loss (AP)
AP - Book retailer Borders Group Inc. announced a fourth-quarter loss on Thursday as it disclosed plans to close nearly half of its Waldenbooks stores and the possible sale of most of its international businesses as part of a restructuring plan.
KB Home affected by home building slowdown.
KB Home fiscal 1Q profit plunges (AP)
AP - KB Home, one of the nation's largest homebuilders, said Thursday that first-quarter profit plunged as the company felt pressure from a slowing housing market and rising defaults of subprime mortgages.
One report has its net profit falling 84percent.
Monday, March 26, 2007
Stocks Slip on Housing Data
Stocks Slip on Disappointing Data
Wall Street slid Monday after an unexpected drop in new home sales for February triggered further concern that economic growth is slowing more than expected.
Home sales unexpectedly drop sharply. This clouded the chances of a rebound in the housing sector. Could be a sign of coming slow-down? Hmmm....
Walgreen ups Net Income by 25%
Walgreen 2Q Net Income Up Nearly 25 Pct.
Walgreen Co., the nation's largest drugstore chain by revenue, on Monday said fiscal second-quarter net income rose nearly 25 percent as sales at established stores increased on the strength of a strong retail prescription business.
Applying CANSLIM, it must be investigated if Walgreen qualifies as a buy within the coming days. Momentum is high.
Oil is almost 63
Oil Prices Hover Near $63 a Barrel
Oil prices rose Monday, extending their gains above $62 a barrel, on continued tensions between Iran and the West following Iran's detention of British naval personnel. Recent declines in U.S. oil inventories also supported the market.
technorati tags:oil
Business World: Stock Market to consolidate
Stock Market : Consolidation to continue ahead of Lent
The stock market is expected to continue consolidating this week, but with an upward bias as investor confidence slowly returns several weeks after major corrections in the United States and Chinese markets.
On the contary, I believe that the bias is not upward but sideways to down.
technorati tags:stocks
Citigroup cuts cost
Citigroup may cut 15,000 jobs: paper (Reuters)
Reuters - Citigroup Inc. , the largest U.S. bank, may cut 15,000 jobs and take a charge of more than $1 billion to revitalize itself and boost a lagging share price, the Wall Street Journal said on Monday.
C is at 51.72, divergence is positive at 0.2045 after a little time in the negative region. It was unchanged last Friday, with only 7k volume. Average volume is at 3million. P/E is only at 12, but it may mean that the investors have lost confidence on the stock. Analysts put a buy recommendation to the stock (2.1 average, with 1 being strong buy, and 5 strong sell). Also, AG Edwards gave it a buy recommendation last March 20.
Earnings is a concern though. Hence, the cost cut. Growth is a concern (-1.8% versus the SP500's 4.2% and its sector's 8.0%). C's estimate of eps is down by $0.07 from 90 days ago, and is only at US$4.50.
Given this, and a P/E of 15, we are thinking that C may still trade at 62.50 tops. Given the jobs cut, and its proven resilience over time, C may still be a buy.
I will give it a 2.5 for a buy.
technorati tags:C
Sunday, March 25, 2007
Oracle
Oracle's 3Q profit rises 35 percent (AP)
AP - Business software maker Oracle Corp. has a tough act to follow as it tackles the biggest quarter of its fiscal year.
Oracle was already a buy a few days ago, when its divergence indicators show some movement towards the positive side. Looking at the key stats make it a little overvalued. Given the surge in earnings, this would balance out later. Still, I am having second thoughts on buying Oracle. In fact, my stock portfolio does not contain Oracle anymore, since I sold it on October 2006. Shall I buy it again? I think not. If I will, I will have to limit its shares.
| VALUATION MEASURES |
| Market Cap (intraday): | 94.52B |
| Enterprise Value (25-Mar-07)3: | 93.82B |
| Trailing P/E (ttm, intraday): | 24.35 |
| Forward P/E (fye 31-May-08) 1: | 16.14 |
| PEG Ratio (5 yr expected): | 1.15 |
| Price/Sales (ttm): | 5.96 |
| Price/Book (mrq): | 6.17 |
technorati tags:orcl
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Buy Morgan Stanley (MS)
Morgan Stanley 1Q profit up 69 percent (AP)
AP - Morgan Stanley Inc., the second-biggest investment bank on Wall Street, said Wednesday its fiscal first-quarter profit soared 69 percent on robust trading and strong advisory fees from stock and bond underwriting.
Last Friday, its stock rose by almost 7% in reaction to the news. Divergence however is still negative. The stock has gone up to the area of its 52 week high, at 81.10. Volume is also picking up. The following is the stock's fundamental data according to Yahoo research:
| VALUATION MEASURES |
| Market Cap (intraday): | 85.06B |
| Enterprise Value (25-Mar-07)3: | -180.81B |
| Trailing P/E (ttm, intraday): | 10.01 |
| Forward P/E (fye 30-Nov-08) 1: | 9.81 |
| PEG Ratio (5 yr expected): | 0.78 |
| Price/Sales (ttm): | 2.51 |
| Price/Book (mrq): | 2.60 |
technorati tags:MS, Wallstreet, stocks
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Sell FedEx
FedEx 3Q earnings dip 2 pct. on slowdown (AP)
However, it even went up 2.08 points last Friday, ending at 112.71, or 1.88% higher than the previous day. Its volume is still high at 2,005,348
Looking at the divergence indicators, and considering the slowdown, we may consider selling short for FedEx.
I believe that the 2 pct. slowdown does not affect much of the investors' sentiment about Fedex at the moment. But, better be wary. With P/E at 17.79, the stock is a little undervalued compared with the rest. But this has to give if the profits continue to dip.
Sell FedEx.
AP - FedEx Corp. reported a 2 percent drop in third-quarter earnings Wednesday, blaming the decline largely on an economic slowdown that tested the company's ability to quickly adjust costs. The shipping company said it also will have to struggle to keep up with a long-range goal of 10 percent to 15 percent growth a year in per share earnings.
However, it even went up 2.08 points last Friday, ending at 112.71, or 1.88% higher than the previous day. Its volume is still high at 2,005,348
Looking at the divergence indicators, and considering the slowdown, we may consider selling short for FedEx.
I believe that the 2 pct. slowdown does not affect much of the investors' sentiment about Fedex at the moment. But, better be wary. With P/E at 17.79, the stock is a little undervalued compared with the rest. But this has to give if the profits continue to dip.
Sell FedEx.
TEL
Again, Businessworld research recommended PLDT (TEL) as a buy on March 19, 2007. I agree. Actually on March 21, it was a buy, using divergence indicators. Probably, Business world researchers are using RSI as indicator, because using it, and some gut feel that is based on fundamentals, PLDT is really a buy.
Now, when I say TEL is a buy, it meant that if you don't own the stock yet, you should consider buying it. Or, if you own the stock, and want to purchase some more, then this is the proper time to do it. June 30, 2006 (TEL was at 1800) was a better time though. Last Friday, it closed at 2495.00. Too pricey from nine months ago.
I sold mine last February for 7.33x profit. No regrets.
Now, when I say TEL is a buy, it meant that if you don't own the stock yet, you should consider buying it. Or, if you own the stock, and want to purchase some more, then this is the proper time to do it. June 30, 2006 (TEL was at 1800) was a better time though. Last Friday, it closed at 2495.00. Too pricey from nine months ago.
I sold mine last February for 7.33x profit. No regrets.
EEI?
Business world research recommended EEI as trading buy. Looking at MACD indicators however will point out that the EEI stock has gone up by so much. Sure the up lines are going ahead of the red lines, indicating an upward trend. But, by this time, one should have already purchased EEI, and is only preparing to dump some or all of it. Best time to have bought it was around mid-June 2006. I missed it then. Trading buy means one is wary of selling the stock at the first onset of trouble or stall. On the contrary, Buffett once said that if you won't own the stock for two years, don't own it in two minutes. I have not really owned a stock for more than a year, except for some really good ones. But I will not trade for risk.
Hence, I am not buying EEI
Hence, I am not buying EEI
Saturday, March 24, 2007
BEL
Belle Corporation. I bought this stock 6/23/2006 at 1.04. It went up until 1.64 or so in February 2007. I did not enjoy that rise because I already sold much earlier when it seemed to be heading southwards. Its divergence became negative on November 28, 2006, when I sold it at 1.16, for a 12% profit. On January 23, 2007, I made a risk investing on it when the base wasn't that formed. I bought it again at 1.16. I sold it at 1.44 on March 1, 2007, for 24% profit. Right now, it's moving down again from a peak. Not a good time to buy it.
Stocks - ABS, AC, ALI, BPC, BPI, BDO
ABS-CBN (ABS) will still succumb to selling these coming days. It is not a good time to buy that stock. If you still own this stock, you should unload now.
Ayala Corporation (AC) has made a good base. The second one seems not a good one, since it is small. AC is now about to move up. I think it would be safe to wait for some time before one decides to buy. Feb 12 2007 was the best time to have sold the stock. Like I did. Last June 29, 2006, I bought it at 345.00, following MACD indicators. I sold it on February 12, 2007, again using the indicators of MACD. It was at 630.00. I earned 82.6% profit.
Aboitiz Equity Ventures (AEV) June 23, 2006. Bought it at 5.20 using MACD. Sold at 8.8, January 26, 2007. 69.2% profit. It developed a base again recently, but it's just a single base. Not a good time to buy again.
Ayala Land (ALI) will move up, but the base is not good enough to sustain it. I am considering the MACD indicators. I will not buy a stock unless it came from the negative region (MACD), developed a W-shaped pattern while at the negative region, and started going up in the divergence. I want to buy at the point when the stock first started treading the positive mark. Hence, ALI may be a short term buy.
Benpres (BPC) will start to move up again. It has not developed the W-shaped pattern, so it will not move that high. It will succumb to selling again, move down, develop a base again, and perhaps, if the indicators are right, it will be good to buy Benpres again. Bought BPC at 1.04 on 6/29/2006. Sold at 4.00 2/27/2007. About 300% profit.
Bank of the Philippines (BPI) is developing a second base. Wait to buy BPI.
Banco De Oro (BDO) is going up, but it has not gone to the negative region in the MACD. Not something I would buy. Perhaps good for short term traders.
Ayala Corporation (AC) has made a good base. The second one seems not a good one, since it is small. AC is now about to move up. I think it would be safe to wait for some time before one decides to buy. Feb 12 2007 was the best time to have sold the stock. Like I did. Last June 29, 2006, I bought it at 345.00, following MACD indicators. I sold it on February 12, 2007, again using the indicators of MACD. It was at 630.00. I earned 82.6% profit.
Aboitiz Equity Ventures (AEV) June 23, 2006. Bought it at 5.20 using MACD. Sold at 8.8, January 26, 2007. 69.2% profit. It developed a base again recently, but it's just a single base. Not a good time to buy again.
Ayala Land (ALI) will move up, but the base is not good enough to sustain it. I am considering the MACD indicators. I will not buy a stock unless it came from the negative region (MACD), developed a W-shaped pattern while at the negative region, and started going up in the divergence. I want to buy at the point when the stock first started treading the positive mark. Hence, ALI may be a short term buy.
Benpres (BPC) will start to move up again. It has not developed the W-shaped pattern, so it will not move that high. It will succumb to selling again, move down, develop a base again, and perhaps, if the indicators are right, it will be good to buy Benpres again. Bought BPC at 1.04 on 6/29/2006. Sold at 4.00 2/27/2007. About 300% profit.
Bank of the Philippines (BPI) is developing a second base. Wait to buy BPI.
Banco De Oro (BDO) is going up, but it has not gone to the negative region in the MACD. Not something I would buy. Perhaps good for short term traders.
Philppine Index - March 23, 2007
On June 29, 2006, the Philippine Stock Index closed at when the divergence is at 0.6478. It went up that day from -1.6178 the previous day. The lowest from previous days is -26.9654 on June 14, 2006. The MACD lines during those days were still negative. From then on, we saw it rise to positive region, peaking at around the 90s on January 25, 2007. Now, after that, the Phisix still did move up, but then the MACD lines started to go down.
On March 8, 2007, the 12,26 (up) MACD line touched the negative region. It was at -39.003. Divergence was at -46.7814.
Last Thursday, March 22, 2007, divergence started to be positive again, after wallowing in the negative region for sometime. It was at 8.2383 yesterday.
From these technical indicators, there is a good probability that the index will move up these coming days. The attitude however is still towards selling. I believe that there is another cycle of up-down. Especially since the election days are coming. The market will move up, perhaps to another interim high. At that point, no news will perk it up since the first quarter reports are still coming. If those numbers are good, then the index will inch up some more, but it has to give in again to selling. This will be around end-April or early May. By this time, wait-and-see attitude will have prevailed since the elections will just be around the corner. This is the time for the market to consolidate. If the elections turn out to be peaceful - which I believe will - the market will march up again. That is the time to plunge in the market again.
On March 8, 2007, the 12,26 (up) MACD line touched the negative region. It was at -39.003. Divergence was at -46.7814.
Last Thursday, March 22, 2007, divergence started to be positive again, after wallowing in the negative region for sometime. It was at 8.2383 yesterday.
From these technical indicators, there is a good probability that the index will move up these coming days. The attitude however is still towards selling. I believe that there is another cycle of up-down. Especially since the election days are coming. The market will move up, perhaps to another interim high. At that point, no news will perk it up since the first quarter reports are still coming. If those numbers are good, then the index will inch up some more, but it has to give in again to selling. This will be around end-April or early May. By this time, wait-and-see attitude will have prevailed since the elections will just be around the corner. This is the time for the market to consolidate. If the elections turn out to be peaceful - which I believe will - the market will march up again. That is the time to plunge in the market again.
Friday, March 23, 2007
Business World Philippines 3/24/2007
The Petroleum Association of the Philippines (PAP) has warned that the executive order banning "farm-in"/"farm-out" energy resource exploration, development and production deals has started dampening investor interest.
Front Page
* Oil exploration firms warn of dampened investor interest
* Manufacturing rebounds in January
* Central bank survey shows consumers cautious
Banking & Finance
* Peso ends week at one-month high
Corporate World
* ICTSI unit to raise P6.85 billion from shares sale
* Pacific gets SEC go-signal for IPO
* MacroAsia signs deal with Jinchuan, JCP Geo-Ex
* Century Properties taps US firm to master plan IS project
* Transco exceeds performance targets
* ATR KimEng sues Araneta family anew
* Berkley Philippines sold for P1.25 billion
* Other Stories
The Economy
* Anti-hunger drive ‘challenging’ but ‘doable’
* Ornamental fish growing demo facility to start in Laguna Lake
The Nation
* P644 million needed for security operations in May polls
* Retirees assured of claims even as benefits cut by P3.6B, pork barrel rises to P11.4B
* Oral arguments on Pandacan oil depot case set
* Other Stories
The Stock Market
* Stocks drop on profit taking
Front Page
* Oil exploration firms warn of dampened investor interest
* Manufacturing rebounds in January
* Central bank survey shows consumers cautious
Banking & Finance
* Peso ends week at one-month high
Corporate World
* ICTSI unit to raise P6.85 billion from shares sale
* Pacific gets SEC go-signal for IPO
* MacroAsia signs deal with Jinchuan, JCP Geo-Ex
* Century Properties taps US firm to master plan IS project
* Transco exceeds performance targets
* ATR KimEng sues Araneta family anew
* Berkley Philippines sold for P1.25 billion
* Other Stories
The Economy
* Anti-hunger drive ‘challenging’ but ‘doable’
* Ornamental fish growing demo facility to start in Laguna Lake
The Nation
* P644 million needed for security operations in May polls
* Retirees assured of claims even as benefits cut by P3.6B, pork barrel rises to P11.4B
* Oral arguments on Pandacan oil depot case set
* Other Stories
The Stock Market
* Stocks drop on profit taking
Business World 3/23/2007
Singaporean budget carrier Tiger Airways will reduce flights to the Diosdado Macapagal International Airport (DMIA) in Clark, Pampanga starting Sunday, prompted by what it describes as "regulatory uncertainty."
Front Page
* Airline cuts Clark flights in policy row
* Spam comprises most of RP e-mail
* Mall firm bares P6-B tourism venture
* Two years later, still no convictions in RATE drive
* Arroyo signs ’07 budget
Banking & Finance
* Peso joins rally as Fed keeps rates steady
* Ayala’s BPI sees remittance business growing by a fifth
* Bonds up but volatility still expected
* China Bank net income up nearly 11% to P3.5 billion
* Vehicle links to commodities
Corporate World
* Rockwell listing to fund Lopez Center
* State asks court to rethink order for shutdown of Pandacan
* Smart’s newest service: 3G-based mobile ‘eye’
* Fund manager to get $125M from investors by second quarter
* US research firm opening new call center in Cagayan de Oro
The Economy
* Philippines may beat BoP surplus target
* Subsidies to state firms rise slightly
* Air negotiations delayed
* P45-M e-gov’t portal deal awarded
* Biofuels demand expected to strain coconut production
The Nation
* Arroyo orders new police officers to guard May polls
* Government workers get 10% pay hike
* Namfrel chosen anew as poll body’s citizen’s arm
* Poor segment rises nationwide - SWS survey
* Rights violations probe opens
The Stock Market
* Stocks up, but market still consolidating
Opinion
* Left Field — By A. R. Samson: "Deadlines"
* Vector — By Sonny Coloma: "Know-how vs know-why?"
* One Man’s Meat — By Benjamin G. Defensor: "The business of education"
* Rule Of Law — By Basilio H. Alo: "CHR on trial"
* Commentary — By Jose Antonio Ocampo & Rob Vos Project Syndicate: "Global economic cooperation or bust"
News Plus
Labor & Management
* Labor’s regional department promotes business sense, jobs in informal sector
* Regional schools offer teacher training to prepare students for work force
* Global companies tell top managers to work less
* CSC: HR policies in government now more women-friendly
* In the Workplace — By Reylito A.H. Elbo
"Hiring policy against the third sex"
Specials
Weekender
Section banner stories:
* The Philippine stock market: He’s seen it all
* J & J promotes traditional Pinoy games
* Bush’s health care plan not most effective
* Kiamba Sleepy town’s pleasant surprises
* Women workers recycle banana plantation wastes into cash
* Plus Cinema, Stay In & Going Out
I.T. Matters
* MySpace creates Internet rallying site for politicians, voters to interact
* EU aims to roll out mobile TV by Euro 2008 championship
* Davao’s online marketplace goes from virtual to physical
* Philippine Silicon Valley: "De La Salle and Ateneo: Not just vying for excellence on the court"
Downloads
* Shattering the Glass Ceiling
* 2006 3rd Quarter Banking Report
* 2006 2nd Quarter Banking Report
* Journal for Entrepreneurs: Diversification
* Journal for Entrepreneurs: Innovation
* BW Special Report: Information & Communication Technology Industry
* BW Special Report: The Advertising Industry
* 2005 3rd Quarter Banking Report
* BW Special Report: Microfinance
* Guide to Bonds and Other Fixed-Income Instruments
Front Page
* Airline cuts Clark flights in policy row
* Spam comprises most of RP e-mail
* Mall firm bares P6-B tourism venture
* Two years later, still no convictions in RATE drive
* Arroyo signs ’07 budget
Banking & Finance
* Peso joins rally as Fed keeps rates steady
* Ayala’s BPI sees remittance business growing by a fifth
* Bonds up but volatility still expected
* China Bank net income up nearly 11% to P3.5 billion
* Vehicle links to commodities
Corporate World
* Rockwell listing to fund Lopez Center
* State asks court to rethink order for shutdown of Pandacan
* Smart’s newest service: 3G-based mobile ‘eye’
* Fund manager to get $125M from investors by second quarter
* US research firm opening new call center in Cagayan de Oro
The Economy
* Philippines may beat BoP surplus target
* Subsidies to state firms rise slightly
* Air negotiations delayed
* P45-M e-gov’t portal deal awarded
* Biofuels demand expected to strain coconut production
The Nation
* Arroyo orders new police officers to guard May polls
* Government workers get 10% pay hike
* Namfrel chosen anew as poll body’s citizen’s arm
* Poor segment rises nationwide - SWS survey
* Rights violations probe opens
The Stock Market
* Stocks up, but market still consolidating
Opinion
* Left Field — By A. R. Samson: "Deadlines"
* Vector — By Sonny Coloma: "Know-how vs know-why?"
* One Man’s Meat — By Benjamin G. Defensor: "The business of education"
* Rule Of Law — By Basilio H. Alo: "CHR on trial"
* Commentary — By Jose Antonio Ocampo & Rob Vos Project Syndicate: "Global economic cooperation or bust"
News Plus
Labor & Management
* Labor’s regional department promotes business sense, jobs in informal sector
* Regional schools offer teacher training to prepare students for work force
* Global companies tell top managers to work less
* CSC: HR policies in government now more women-friendly
* In the Workplace — By Reylito A.H. Elbo
"Hiring policy against the third sex"
Specials
Weekender
Section banner stories:
* The Philippine stock market: He’s seen it all
* J & J promotes traditional Pinoy games
* Bush’s health care plan not most effective
* Kiamba Sleepy town’s pleasant surprises
* Women workers recycle banana plantation wastes into cash
* Plus Cinema, Stay In & Going Out
I.T. Matters
* MySpace creates Internet rallying site for politicians, voters to interact
* EU aims to roll out mobile TV by Euro 2008 championship
* Davao’s online marketplace goes from virtual to physical
* Philippine Silicon Valley: "De La Salle and Ateneo: Not just vying for excellence on the court"
Downloads
* Shattering the Glass Ceiling
* 2006 3rd Quarter Banking Report
* 2006 2nd Quarter Banking Report
* Journal for Entrepreneurs: Diversification
* Journal for Entrepreneurs: Innovation
* BW Special Report: Information & Communication Technology Industry
* BW Special Report: The Advertising Industry
* 2005 3rd Quarter Banking Report
* BW Special Report: Microfinance
* Guide to Bonds and Other Fixed-Income Instruments
Thursday, March 22, 2007
Is there a coming Depression?
From Kimberly Amadeo,
Your Guide to U.S. Economy.
What Was The Great Depression of 1929: The Great Depression of 1929 was a worldwide depression that lasted for 10 years. Its kickoff in the U.S. economy was “Black Thursday”, October 24, 1929, when 12.9 million shares of stock were sold in one day, triple the normal amount. Share prices fell 15 - 20%, causing a stock market crash.
How Bad Was the Great Depression of 1929?: By 1933, the height of the depression, unemployment had risen from 3% to 25% of the nation’s workforce. Wages for those who still had jobs fell 42%. GDP was cut in half, from $103 to $55 billion. This was partly because of deflation, where prices fell 10% per year. By 1933, world trade plummeted 65% as measured in dollars and 25% in total number of units.
The Depression caused many farmers to lose their farms. At the same time, years of erosion and a drought created the “Dust Bowl” in the Midwest, where no crops could grow. Thousands of these farmers and other unemployed workers traveled to California to find work. Many ended up living as homeless “hobos” or in shantytowns called “Hoovervilles”, named after then-President Herbert Hoover.
(continue reading here)
Your Guide to U.S. Economy.
What Was The Great Depression of 1929: The Great Depression of 1929 was a worldwide depression that lasted for 10 years. Its kickoff in the U.S. economy was “Black Thursday”, October 24, 1929, when 12.9 million shares of stock were sold in one day, triple the normal amount. Share prices fell 15 - 20%, causing a stock market crash.
How Bad Was the Great Depression of 1929?: By 1933, the height of the depression, unemployment had risen from 3% to 25% of the nation’s workforce. Wages for those who still had jobs fell 42%. GDP was cut in half, from $103 to $55 billion. This was partly because of deflation, where prices fell 10% per year. By 1933, world trade plummeted 65% as measured in dollars and 25% in total number of units.
The Depression caused many farmers to lose their farms. At the same time, years of erosion and a drought created the “Dust Bowl” in the Midwest, where no crops could grow. Thousands of these farmers and other unemployed workers traveled to California to find work. Many ended up living as homeless “hobos” or in shantytowns called “Hoovervilles”, named after then-President Herbert Hoover.
(continue reading here)
Business World Philippines 3/22/2007
Front Page
* China property giant to invest $2-$4 billion
* Philip Morris defers P300-M expansion
* Philippines positions as Asia’s gaming haven
* Tax agency told to make up for poor collections
* Employers, business groups push for more labor reforms
Banking & Finance
* Maybank tries to grow insurance business
* Malaysia eases FX rules to court investors
* Peso appreciates to P48.41 vs dollar as stock market rebounds
* Asian bonds steady ahead of Fed meet
* FCDU assets reach $24.213 billion in 2006
Corporate World
* SPV wants to stop sale of Pepsi-Cola shares by Prime Orion
* Alsons now a shareholder in Aussie firm
* Zest-O allocates P500M for plants’ expansion
* PNCC seeks affirmation for Radstock agreement
* SQL’s former owners to establish another IT services firm
The Economy
* BoI, PEZA investment pledges double
* China firm commits $200M to mining venture
* State exploration arm to push through with Malampaya bid
* Gov’t team to hold non-deal road show in US, Europe
* Shell studying opening autogas stations amid market boom
The Nation
* NGOs question congressional fund use
* Warning out vs tapping groundwater
* Go slow in blaming Armed Forces for killings — Ermita
* Comelec asked to purge party-list group’s roster
* Occupancy rate of hotels grows slowly
The Stock Market
* Stocks gain as investors hunt for bargains
* China property giant to invest $2-$4 billion
* Philip Morris defers P300-M expansion
* Philippines positions as Asia’s gaming haven
* Tax agency told to make up for poor collections
* Employers, business groups push for more labor reforms
Banking & Finance
* Maybank tries to grow insurance business
* Malaysia eases FX rules to court investors
* Peso appreciates to P48.41 vs dollar as stock market rebounds
* Asian bonds steady ahead of Fed meet
* FCDU assets reach $24.213 billion in 2006
Corporate World
* SPV wants to stop sale of Pepsi-Cola shares by Prime Orion
* Alsons now a shareholder in Aussie firm
* Zest-O allocates P500M for plants’ expansion
* PNCC seeks affirmation for Radstock agreement
* SQL’s former owners to establish another IT services firm
The Economy
* BoI, PEZA investment pledges double
* China firm commits $200M to mining venture
* State exploration arm to push through with Malampaya bid
* Gov’t team to hold non-deal road show in US, Europe
* Shell studying opening autogas stations amid market boom
The Nation
* NGOs question congressional fund use
* Warning out vs tapping groundwater
* Go slow in blaming Armed Forces for killings — Ermita
* Comelec asked to purge party-list group’s roster
* Occupancy rate of hotels grows slowly
The Stock Market
* Stocks gain as investors hunt for bargains
Wednesday, March 21, 2007
Business World Philippines 3/21/2007
Front Page
* Manila complains to WTO council
* Stricter rules driving banks to technology
* Gov’t-business cooperation key to raising productivity
* Economic zone locators regain lost perks
* Former Agriculture Secretary bags this year’s Entrepreneur Of The Year Philippines award
Banking & Finance
* Moody’s may keep some bank upgrades
* IFC wants local banks to fund more energy-related projects
* Asian sovereign dollar bonds steady
* Peso tracks gains of regional forex
* UCPB targets bigger OFW profits
Corporate World
* Nokia noncommittal on entry of mobile TV-ready phones
* Alaska to break ties with Hershey Foods
* RD Group eyes tuna canning venture in Yemen to serve Saudi market
* Panasonic net up 136% in first three quarters
* DMCI issues shares to Dacon
The Economy
* Poor revenue collection to shoo away investors
* Real property tax collections below par
* Growth area’s port pact set for signing
* Additional MRT coaches to cost $65 million
* Prioritize basic needs, says Arroyo
* ERRATUM
The Nation
* United States, Philippines dance to same old atrocities tune
* Misuari to seek governorship of Sulu
* Supreme Court sacks appeals court justice for case delays
* Philippines running out of weather forecasters
* Nobel laureates to conduct scientific, cultural exchanges
The Stock Market
* Shares flat as investors worry about rates
* Manila complains to WTO council
* Stricter rules driving banks to technology
* Gov’t-business cooperation key to raising productivity
* Economic zone locators regain lost perks
* Former Agriculture Secretary bags this year’s Entrepreneur Of The Year Philippines award
Banking & Finance
* Moody’s may keep some bank upgrades
* IFC wants local banks to fund more energy-related projects
* Asian sovereign dollar bonds steady
* Peso tracks gains of regional forex
* UCPB targets bigger OFW profits
Corporate World
* Nokia noncommittal on entry of mobile TV-ready phones
* Alaska to break ties with Hershey Foods
* RD Group eyes tuna canning venture in Yemen to serve Saudi market
* Panasonic net up 136% in first three quarters
* DMCI issues shares to Dacon
The Economy
* Poor revenue collection to shoo away investors
* Real property tax collections below par
* Growth area’s port pact set for signing
* Additional MRT coaches to cost $65 million
* Prioritize basic needs, says Arroyo
* ERRATUM
The Nation
* United States, Philippines dance to same old atrocities tune
* Misuari to seek governorship of Sulu
* Supreme Court sacks appeals court justice for case delays
* Philippines running out of weather forecasters
* Nobel laureates to conduct scientific, cultural exchanges
The Stock Market
* Shares flat as investors worry about rates
Tuesday, March 20, 2007
Business World Philippines 3/20/2007
Front Page
* Private sector bucks proposed port rules
* Customs execs balk at revenue commitment
* Gov’t planning to drop T-bill offerings next year
* Budget carriers gain market share, but established airlines still dominant
* Greenspan hit for changing tune
Banking & Finance
* Peso, other Asian FX gain vs dollar
* Asian bonds stable ahead of US Fed
* Chinese regulator tells smaller banks to rein in loan growth
* Ringgit offshore trade not needed, says Malaysian capital control architect
Corporate World
* Meralco fighting P2.2-B tax assessment
* Aboitiz unit given tax perks for 19-megawatt power plant
* Cathay Land earmarks P2B for South Forbes
* ESPN STAR doubles revenues from RP Network to localize programs
* SEC approves Unilab unit’s increase in capital stock
The Economy
* Chief economic planner slams corruption, unstable policies
* Clark airport expansion to start in April
* Paper industry struggles with high costs, low tech and small capacities
* Foreign chambers back freer air services in Clark, Subic
* Tuna consortium building P20-M shipyard
The Nation
* Hunger worse in Metro Manila
* Congress soon to okay perks for disabled persons
* Plea bargain gives ex-Estrada ally two- to six-year jail term
* Changes in Davao Region’s politics pit friends, associates
* Ocampo sent back to Manila
The Stock Market
* Index declines as investors seek clear leads
* Private sector bucks proposed port rules
* Customs execs balk at revenue commitment
* Gov’t planning to drop T-bill offerings next year
* Budget carriers gain market share, but established airlines still dominant
* Greenspan hit for changing tune
Banking & Finance
* Peso, other Asian FX gain vs dollar
* Asian bonds stable ahead of US Fed
* Chinese regulator tells smaller banks to rein in loan growth
* Ringgit offshore trade not needed, says Malaysian capital control architect
Corporate World
* Meralco fighting P2.2-B tax assessment
* Aboitiz unit given tax perks for 19-megawatt power plant
* Cathay Land earmarks P2B for South Forbes
* ESPN STAR doubles revenues from RP Network to localize programs
* SEC approves Unilab unit’s increase in capital stock
The Economy
* Chief economic planner slams corruption, unstable policies
* Clark airport expansion to start in April
* Paper industry struggles with high costs, low tech and small capacities
* Foreign chambers back freer air services in Clark, Subic
* Tuna consortium building P20-M shipyard
The Nation
* Hunger worse in Metro Manila
* Congress soon to okay perks for disabled persons
* Plea bargain gives ex-Estrada ally two- to six-year jail term
* Changes in Davao Region’s politics pit friends, associates
* Ocampo sent back to Manila
The Stock Market
* Index declines as investors seek clear leads
Monday, March 19, 2007
Business World Philippines 3/19/2007
Front Page
* Gov’t constrained on P25-B windfall
* Competitiveness agenda up at employers’ meet
* Stronger peso leads to lower water rates for Metro Manila
* Arroyo set to sign budget bill on Wednesday
* ERNST & YOUNG — Entrepreneur of the Year: Who will be the next?
Banking & Finance
* T-bill rates may fall
* BSP unlikely to touch rates, criticized for too cautious stance
* RCBC eyes P4.75B from share offer to investors
* PostalBank to raise up to P2B this year
* Citigroup streamlines hedge service unit
Corporate World
* Filinvest officials want tax evasion charges dropped
* Winning Mirant bidders eye JBIC loan
* Bataan plastics plant to get emergency power
* Local ceramic maker wants to sell to China
* Court orders refund for unfinished project
The Economy
* No ready funds for rewarding qualified revenue collectors
* US earmarks $125M for Mindanao’s dev’t
* P35.74 billion lost to leakage in individual income tax
* Environment chief projects sharp increase in copper, gold production
* International Finance Corp. eyes water, power, rail projects
The Nation
* Pasig ferry to operate in June, to benefit 30,000 passengers
* Philippines still poor in education goal
* Transco lifts power cut amid new attack
* Agriculture sets aside P350M for corn facilities
* Civil society groups to perform crucial role in elections
The Stock Market
* Bourse to take cue from overseas markets
* Gov’t constrained on P25-B windfall
* Competitiveness agenda up at employers’ meet
* Stronger peso leads to lower water rates for Metro Manila
* Arroyo set to sign budget bill on Wednesday
* ERNST & YOUNG — Entrepreneur of the Year: Who will be the next?
Banking & Finance
* T-bill rates may fall
* BSP unlikely to touch rates, criticized for too cautious stance
* RCBC eyes P4.75B from share offer to investors
* PostalBank to raise up to P2B this year
* Citigroup streamlines hedge service unit
Corporate World
* Filinvest officials want tax evasion charges dropped
* Winning Mirant bidders eye JBIC loan
* Bataan plastics plant to get emergency power
* Local ceramic maker wants to sell to China
* Court orders refund for unfinished project
The Economy
* No ready funds for rewarding qualified revenue collectors
* US earmarks $125M for Mindanao’s dev’t
* P35.74 billion lost to leakage in individual income tax
* Environment chief projects sharp increase in copper, gold production
* International Finance Corp. eyes water, power, rail projects
The Nation
* Pasig ferry to operate in June, to benefit 30,000 passengers
* Philippines still poor in education goal
* Transco lifts power cut amid new attack
* Agriculture sets aside P350M for corn facilities
* Civil society groups to perform crucial role in elections
The Stock Market
* Bourse to take cue from overseas markets
Saturday, March 17, 2007
Market Watch
Reuters
Banks' shares push stocks up, easing mortgage woes
Thursday March 15, 6:08 pm ET
By Caroline Valetkevitch
NEW YORK (Reuters) - U.S. stocks finished higher on Thursday after healthy earnings from Bear Stearns Cos. Inc. (NYSE:BSC - News) eased concerns about subprime lending problems spreading to other companies and the wider economy.
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A spate of mergers, including a surprise offer by the electronic energy marketplace IntercontinentalExchange (NYSE:ICE - News) for CBOT Holdings Inc. (NYSE:BOT - News), the parent of the Chicago Board of Trade.
Bear Stearns, Wall Street's leading underwriter of mortgage-backed securities, said quarterly earnings rose, beating analysts' estimates, and noted that problems with risky mortgages were largely contained. Lehman Brothers Holdings Inc. (NYSE:LEH - News) made similar comments a day earlier.
"Everybody was so hopped up with the subprime lending stuff. But the economy is doing OK, and I still think the market in the long run will have a halfway decent year," said Victor Pugliese, director of listed equity trading at First Albany Corp. in San Francisco.
The Dow Jones industrial average (DJI:^DJI - News) rose 26.28 points, or 0.22 percent, to 12,159.68. The Standard & Poor's 500 Index (^SPX - News) gained 5.11 points, or 0.37 percent, to at 1,392.28. The Nasdaq Composite Index (Nasdaq:^IXIC - News) advanced 6.96 points, or 0.29 percent, to 2,378.70.
WELLS FARGO GAINS, CBOT JUMPS
Financial stocks, which were among the hardest hit in a sell-off on Tuesday, rose for a second day. Shares of Wells Fargo & Co. (NYSE:WFC - News), the No. 5 U.S. bank, gained 1.3 percent, or 45 cents, to $34.10 on the New York Stock Exchange, while shares of Countrywide Financial Corp. (NYSE:CFC - News), which like Wells Fargo made mortgages to subprime borrowers, rose 3.1 percent, or $1.08, to $35.47, also on the NYSE.
Shares of Bear Stearns shot up 2.2 percent, or $3.21, to $148.50, while shares of Lehman rose 1.8 percent, or $1.31, to $73.03.
The bid by ICE pushed CBOT shares up 17.4 percent, or $28.86, to $194.95 on the New York Stock Exchange. CBOT's stock was the second-biggest percentage gainer on the big Board.
In contrast, shares of IntercontinentalExchange dropped 2.9 percent, or $3.83, to $128.10.
In October, the Chicago Mercantile Exchange (NYSE:CME - News) had agreed to buy the CBOT. CME shares fell 5.5 percent, or $31.09, to $532.88.
In other merger news, Cisco Systems Inc. (NasdaqGS:CSCO - News) said it will buy online videoconferencing company WebEx Communications Inc. (NasdaqGS:WEBX - News) for $2.9 billion. Cisco shares dipped 0.2 percent, or 4 cents, to $25.81, while shares of WebEx rose 22 percent, or $10.18, to $56.38. Both trade on the Nasdaq.
BRIEF DIP ON GREENSPAN'S CAVEAT
Stocks pared gains and briefly turned negative after former Federal Reserve Chairman Alan Greenspan, speaking in Florida to the Futures Industry Association, warned that problems in the market could spread into other sectors. (ID:nN15449059)
Also, economic data before the opening somewhat dimmed hopes for an interest-rate cut by the Federal Reserve any time soon. The report showed the U.S. Producer Price Index, a gauge of wholesale inflation, jumped 1.3 percent in February, well above the gain of 0.5 percent that economists were expecting. Excluding food and energy, core PPI rose 0.4 percent.
On Tuesday, the Mortgage Bankers Association reported that the proportion of mortgages in the initial stages of foreclosure rose to the highest rate on record. Stocks fell about 2 percent that day.
Trading was light to moderate on the NYSE, with about 1.51 billion shares changing hands, below last year's estimated daily average of 1.84 billion, while on Nasdaq, about 1.81 billion shares traded, below last year's daily average of 2.02 billion.
Advancing stocks outnumbered declining ones by a ratio of about 8 to 3 on the NYSE and by about 3 to 2 on Nasdaq.
Banks' shares push stocks up, easing mortgage woes
Thursday March 15, 6:08 pm ET
By Caroline Valetkevitch
NEW YORK (Reuters) - U.S. stocks finished higher on Thursday after healthy earnings from Bear Stearns Cos. Inc. (NYSE:BSC - News) eased concerns about subprime lending problems spreading to other companies and the wider economy.
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A spate of mergers, including a surprise offer by the electronic energy marketplace IntercontinentalExchange (NYSE:ICE - News) for CBOT Holdings Inc. (NYSE:BOT - News), the parent of the Chicago Board of Trade.
Bear Stearns, Wall Street's leading underwriter of mortgage-backed securities, said quarterly earnings rose, beating analysts' estimates, and noted that problems with risky mortgages were largely contained. Lehman Brothers Holdings Inc. (NYSE:LEH - News) made similar comments a day earlier.
"Everybody was so hopped up with the subprime lending stuff. But the economy is doing OK, and I still think the market in the long run will have a halfway decent year," said Victor Pugliese, director of listed equity trading at First Albany Corp. in San Francisco.
The Dow Jones industrial average (DJI:^DJI - News) rose 26.28 points, or 0.22 percent, to 12,159.68. The Standard & Poor's 500 Index (^SPX - News) gained 5.11 points, or 0.37 percent, to at 1,392.28. The Nasdaq Composite Index (Nasdaq:^IXIC - News) advanced 6.96 points, or 0.29 percent, to 2,378.70.
WELLS FARGO GAINS, CBOT JUMPS
Financial stocks, which were among the hardest hit in a sell-off on Tuesday, rose for a second day. Shares of Wells Fargo & Co. (NYSE:WFC - News), the No. 5 U.S. bank, gained 1.3 percent, or 45 cents, to $34.10 on the New York Stock Exchange, while shares of Countrywide Financial Corp. (NYSE:CFC - News), which like Wells Fargo made mortgages to subprime borrowers, rose 3.1 percent, or $1.08, to $35.47, also on the NYSE.
Shares of Bear Stearns shot up 2.2 percent, or $3.21, to $148.50, while shares of Lehman rose 1.8 percent, or $1.31, to $73.03.
The bid by ICE pushed CBOT shares up 17.4 percent, or $28.86, to $194.95 on the New York Stock Exchange. CBOT's stock was the second-biggest percentage gainer on the big Board.
In contrast, shares of IntercontinentalExchange dropped 2.9 percent, or $3.83, to $128.10.
In October, the Chicago Mercantile Exchange (NYSE:CME - News) had agreed to buy the CBOT. CME shares fell 5.5 percent, or $31.09, to $532.88.
In other merger news, Cisco Systems Inc. (NasdaqGS:CSCO - News) said it will buy online videoconferencing company WebEx Communications Inc. (NasdaqGS:WEBX - News) for $2.9 billion. Cisco shares dipped 0.2 percent, or 4 cents, to $25.81, while shares of WebEx rose 22 percent, or $10.18, to $56.38. Both trade on the Nasdaq.
BRIEF DIP ON GREENSPAN'S CAVEAT
Stocks pared gains and briefly turned negative after former Federal Reserve Chairman Alan Greenspan, speaking in Florida to the Futures Industry Association, warned that problems in the market could spread into other sectors. (ID:nN15449059)
Also, economic data before the opening somewhat dimmed hopes for an interest-rate cut by the Federal Reserve any time soon. The report showed the U.S. Producer Price Index, a gauge of wholesale inflation, jumped 1.3 percent in February, well above the gain of 0.5 percent that economists were expecting. Excluding food and energy, core PPI rose 0.4 percent.
On Tuesday, the Mortgage Bankers Association reported that the proportion of mortgages in the initial stages of foreclosure rose to the highest rate on record. Stocks fell about 2 percent that day.
Trading was light to moderate on the NYSE, with about 1.51 billion shares changing hands, below last year's estimated daily average of 1.84 billion, while on Nasdaq, about 1.81 billion shares traded, below last year's daily average of 2.02 billion.
Advancing stocks outnumbered declining ones by a ratio of about 8 to 3 on the NYSE and by about 3 to 2 on Nasdaq.
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