EastGroup Properties, Q2 2008 Earnings Call Transcript
July 28, 2008
EastGroup Properties (EGP)
Q2 2008 Earnings Call Transcript
EastGroup Properties, Q2 2008 Earnings Call Transcript
Simon Property Group, Inc. Q2 2008 Earnings Call Transcript
July 28, 2008
Simon Property Group, Inc.
Q1 2008 Earnings Call
Simon Property Group, Inc. Q2 2008 Earnings Call Transcript
The FX Market is Growing Worldwide
July 28, 2008
Kathy Lien submits:
Last year, the Bank of International Settlements announced that FX market volume increased 71 percent between 2004 and 2007 and amidst all of the financial market turmoil, trading is on the rise once again.
The equity, commodity and bond markets have been particularly tough this year, causing many investors to cut back on risk, but in the foreign exchange market, activity has been rising more than ever. New FX daily turnover reports are hot off the presses.
The FX Market is Growing Worldwide
Target is Roadkill - Cramer’s Stop Trading (7/26/08)
July 28, 2008
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One topic of conversation on Monday’s segment of CNBC’s Stop Trading was covered bonds. In response to the proposed bill, Jim Cramer said: “Bank of America (BAC) and Wells Fargo (WFC) should join this.” “While I really appreciate the notion of the covered bonds,” Cramer said, “I’d like to make sure that the notion of our banks not having runs on them is solved first.” “We have to solve the current problems before we worry about this next solution,” he continued. “And I think it’s great as a great sideshow, even as a terrific distraction from our real problems, which is to worry about the next IndyMac.” “In 2012, this is going to be the answer,” Cramer said of covered bonds. He disagrees that they’re the solution we need now.
Target is Roadkill - Cramer’s Stop Trading (7/26/08)
28 Jul 2008 16:00:00 - Top 5 Stocks up on Unusual Volume
July 28, 2008
| Intraday Unusual Volume - Top 5 Up |
| Symbol | Volume % Change |
Price % Change |
News | |
| AMGN | 508% |  60.48% |
news | |
| ALDN | 252% | 10.17% |
news | |
| VARI | 170% | 48.25% |
news | |
| ISYS | 130% | 46.21% |
news | |
| AVID | 124% | 22.65% |
news | |
|
||||
28 Jul 2008 16:00:00 - Top 5 Stocks up on Unusual Volume
Monday Options Update: MER, AMGN, SLW, VNDA, PFG, HW
July 28, 2008
Rebecca Engmann Darst contributed to this report.
Merrill Lynch (MER) – Late Friday we observed an unusual phenomenon in the implied volatility of Merrill Lynch, which seemed to move inexorably higher despite gestures from within and without the company that might otherwise be assumed to have a sedative effect on the volatility reading. Between Tuesday and Friday of last week, implied volatility in Merrill Lynch options rose 75%, 10% of which was sustained late in Friday’s session after Singapore’s Temasek took the step of issuing a formal statement to dispel speculation that it was pulling its money out of Merrill Lynch. On Friday we noted heavy put buying at the August 25 strike, which was then priced to reflect about a 1-in-3 chance of Merrill shares breaking below $25 by mid-August. Today its shares are sitting just above that $25 level with a more than 8% decline to $25.19. And implied volatility has continued to climb higher, up about 5% from Friday’s closing levels to read 111%. Twice as many puts are trading as calls today, with heavy front month action again drawn to the 25-strike puts (which have gained 33% in value today) and lower. Interest in puts extends to the 20 strike in September and the 22.50 strike in October.
Monday Options Update: MER, AMGN, SLW, VNDA, PFG, HW
Dollar Bulls: Increased Economic Tolerance
July 28, 2008
Kathy Lien submits:
For the US dollar, it is going to be a slow start to the new week with no major data due for release until Thursday. Consumer confidence and house prices will be out Tuesday and given the upside surprises last week, the data could be dollar positive. However investors will continue to be cautiously bullish dollars since it is hard to believe that confidence and house prices could improve in the current economic environment.
Last week, micro and not macro drivers impacted the US dollar. Bank earnings, movements in stocks and the fluctuations in oil prices (which can fit into macro) kept the dollar near the top of its monthly range. This week, it will be a tug of war between micro and macro drivers with earnings season in full swing. It makes you wonder how tolerable investors have become to bad news when the Dow and gold prices have not reacted to the reports that two more banks have been shut down by the FDIC over the weekend (First Nation Bank and First Heritage Bank). Although these are relatively small banks, in any other market environment, bank failures would weigh heavily on the dollar and the financial markets in general.
Dollar Bulls: Increased Economic Tolerance
The Top 5 Looming Financial Issues
July 28, 2008
John Lounsbury submits:
With all the turmoil in investment markets, I have found it useful to try to estimate major financial issues that will influence the American economy over the next few years and several decades. This will summarize my current findings ranked in order of total dollar value. All of these problems need to be resolved for the future viability of our way of life. I think it is obvious that if the biggest problem is not solved, what we do with the other four will be of little consequence.
Issue #5: The estimated asset write-downs resulting from the 2007-2008 credit crisis. The International Monetary Fund has estimated this to be $1.1 trillion. Less than half of this has been realized to date. The time frame for this to be totally realized is one to three years. The potential for this estimate to be too high is limited to a couple hundred billion at the most. The potential for this estimate to be too low depends on whether or not we see an extended downward spiral in home prices and the associated worsening of credit markets. Worst case scenario is probably another $1 to $1.5 trillion, corresponding to defaults on 20% to 30% of home mortgages.
The Top 5 Looming Financial Issues
Washington Real Estate Investment Trust Q2 2008 Earnings Call Transcript
July 28, 2008
Washington Real Estate Investment Trust (WRE)
Q2 2008 Earnings Call
Washington Real Estate Investment Trust Q2 2008 Earnings Call Transcript
Earnings Preview: Centex Corporation
July 28, 2008
Centex Corporation (CTX) is expected to report Q1 earnings after market close Tuesday, July 29, with a conference call scheduled for Wednesday at 10:00 a.m. ET.
Guidance
Analysts are looking for a loss of ($1.11) on revenue of $1.3B. The consensus range is ($2.27) to 9c for EPS, and revenue of $1.1B to $1.37B, according to First Call.
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