It looks like Facebook has an IPO price range in the high $20s to mid $30s, giving it a valuation of $85 billion to $95 billion according to reports from the US today. The valuation is below the $100 billion hoped for in recent months, but weak quarterly revenue and earnings data has knocked back…
An interesting insight into one of the world’s largest and expensive drilling rigs in the Gulf of Mexico, Mars, which shows the opportunity, dangers and cost of deep water drilling in areas such as the Gulf, Brazil, the Falklands and Greenland. The Mars field was discovered in 1989 using the drillship, Discoverer Seven Seas. Data…
BG Group is currently down 2.2 percent at 1419p despite a strong growth in underlying earnings on news that production from the North Sea Jasmine field (which is 30% owned by BG) is delayed until 2013 from the end of 2012. Jasmine is operated and and 36.5% owned by Conoco Phillips. This delay is…
Following yesterdays posts where we opined on the implications of the Put:Call ratio making a rare print over 1 (1.1 at its peak) and the deeply oversold status of Spanish equities in particular, it is not surprising to see the Ibex in the vanguard of European equity strength today. With the index scratching against the…
The depressing state of many parts of Britain’s high street was illustrated by a 13 percent slump in Home Retail Group shares, owner of Argos and Homebase, to 87.5p after disappointing results and a dividend cut. Investors in Home Retail who has 748 stores have seen their shares tumble from a 52 week high of…
Data provided by CBOE website. http://www.cboe.com/data/IntraDayVol.aspx One of my favourite indicators with regards to providing a lead indicator for a rise in the market, particularly when in an oversold situation, is the so called Put:Call ratio and more specifically, the equity only component. The print today of 1.1 is very rare and almost without fail…
The markets are down heavily today as the ADP (Automatic Data Processing) shows the weakest growth in US private sector employment in seven months. The Dow Jones Industrials are down 50 points to 13,229 and the FTSE 100 is down 57 at 5,755. The data showed an increase of 119,000 in April, the lowest result…
Spanish stocks have endured a 5% swing lower from the open this morning at just over 7100 to 6700 at last look. The chart above is the intraday chart of the Ibex index and shows a large wedge formation that its now probing to the upside just now and so breaking the strong & determined…
With Cable & Wireless shares now trading at a 4.5p discount to the 38p cash offer by Vodafone, the shares are beginning to look interesting, particularly if a long bet is taken with a guaranteed stop 10% away. The odds of the bid not going through look to be less than 20% and so a…
At the current price of $3.73 (US list) Nokia looks to us to be a classic value purchase opportunity on a price to book (tangible), price to cash, yield and also on a contrarian sentiment basis – almost universally negative. Something has to give soon and we wouldn’t bet against Microsoft finally moving to swallow…
