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Four in a row for the Dow I am afraid..longest losers streak since that bloke at the State of Origin…thin volume and Zombieland took a hit too…as did Gold and the dollar…so not much good macro news..however we will be focussed on the individual company results with a general negative wash over everything else.we held up amazingly yesterday despite negative leads and lots of Ex Divs but think today we will succumb…
Anyway more figures today than you could poke an analyst with…NAB,GEM,CCL and ARI out early…NAB looks solid…its only an update for 9 months …ARI has written off 1bn dollars(really)…CCL underwhelming and GEM looks ok…nothing for the bulls here though..move along.
Today I would expect a down day despite Iron Ore up ….WES ex div before you panic!I reckon we are looking at a 25 down job today…market is really waiting though for FOMC and Jackson Hole…Tapering to come in September is weighing on the minds of US investors…
Can these guys save the world at Jackson Hole!!International Rescue ? But where is Brains(Ben) missing in action!!
Idea of the Day
An IPO…it’s been a while for IPO’s but there is a new one called Regeneus who are looking to raise $10m.This one is a Bio Tech..so that’s lost half of my readers already but before I lose the other half it is s an interesting one .It have developed patented regenerative methods using Adipose(fat) to help eleviate pain in arthritis sufferers both human and even canine! They have sales of around $1.2m and growing and the beauty is that their treatments for muscular skeletal conditions uses the patient’s own adipose. Now it is high risk as it’s a bio tech but some commentators have compared it to a baby MSB…well not sure about that but if it’s a space that interests you I can send you a prospectus and you can make up your mind…I have met the management and was impressed with their plan going forward but the question mark is always does it work…they say yes..but then they would…
Here’s a snippet from today’s press on them…
Regeneus has developed treatments for osteoarthritis and other inflammatory conditions such as tendinopathy and ligament injuries, based on a patented method of extracting mesenchymal stem cells (MSCs) from the patient’s own fat tissue.The group’s human therapy, HiQCell, is being used in three medical facilities in Sydney and one on the Gold Coast, with more than 700 joints in 335 patients treated so far.Regeneus also sells two products, AdiCell and CryoShot, to treat similar musculoskeletal conditions in dogs and horses.
Because the human therapy is autologous — only the patient’s own cells are used — approval is not required from drug gatekeepers such as the local Therapeutic Goods Administration and the US Food and Drug Administration.
Things to make me go mmmmm!!
Not a good look for an internet company like Amazon.. Amazon.com has become the latest high-profile website to go offline in recent days.Visitors to the US shopping site were greeted with a message saying: “Oops! We’re very sorry,” alongside a “500 Service Unavailable Error” report.
Our love affair with online shopping shows no signs of abating…now we have official numbers from the ABS (best guess department) suggesting that we spent $6.2bn on buying stuff from overseas web sites…GST threshold not the only issue as we just like the experience..when you get a parcel it feels like your birthday or Xmas..or is that just me?Probably!
And the CIA has admitted that they were responsible for the 1953 coup in Iran so that the west could further their oil interests and stifle Russia…be interesting to see what comes out in the next fifty years!
Seems last night Q&A between Bowen and Hockey was the meeting of two great minds!It would be nice to get some detail from these guys rather than just the usual rubbish and avoidance..I mean if they are not going to say anything why go on Telly…wastes everyones time!Kev13 looks like a shot duck though and the price of MMS is the best barometer of the Coalition victory..back to 12.40….could have bought these at under 8 bucks if you were quick a couple of weeks ago..gotta love volatility and computers!!
In japan the Nikkei newspaper reported that readings of tritium in seawater taken from the bay near the crippled Fukushima nuclear plant has shown 4700 becquerels per liter. This was the highest tritium level in the measurement history. It gets better: Earlier, Tepco admitted that an estimated 20 to 40 trillion becquerels of tritium may have flowed into the Pacific Ocean since the nuclear disaster….think they need to do something about this and quickly..TEPCO seems to have failed dramatically and continually..time for denial to end!
Few results today
QBE Group’s profits fell 37 per cent to US$477 million in its first half, after a sharp decline in its earnings from investments.
The global insurer today posted weaker than expected results, saying the decline was mainly driven by weaker investment earnings – which had benefited from ”significant unrealised gains” in 2012.Dividend has been cut in half.
Ansell has reported a full-year net profit of $136.8 million, up 5.2 per cent from a year earlier.The medical gloves and condom maker said it had endured a challenging year to June, and expected conditions to remain difficult in the current financial period.The company posted a final dividend of 22 cents, up from 20.5 cents, to be paid on September 26.
APN News & Media boss Michael Miller is riding a wave of optimism with his stock price up 45 per cent since it hit a record low of 24¢ in the middle of June. At its nadir, APN News & Media looked like it would succumb to the same sort of pressures that have hit other companies in the sector and be forced to enter into an involuntary restructure. Miller now seems to have the confidence and investor support to abandon those plans and keep its stake in US media group Clear Channel Communication.
It seems to be the hardest job-hunting season ever for Chinese graduates – as nearly 7 million of them swarmed into the job market this summer. In a sad reflection of the US, it is becoming increasingly difficult for college graduates to secure a job in recent years (let alone a degree-required job) as the number of unemployed graduates has nearly doubled in the last 4 years (from 9% of graduates in 2008 to 17.5% now).
And in the World’s largest democracy, money has been leaving the country faster than you can say Rupee!…. International investors have withdrawn $11.58bn (£7.4bn) in shares and debt from India’s markets since the beginning of June, according to official data, The Indian rupee has declined by nearly 16% against the US dollar since May. The drop has coincided with a slowdown in the country’s growth rate.Asia’s third-largest economy grew at an annual rate of 5% in the 2012-13 financial year, the slowest pace in 10 years.
A guy was walking along a South Coast beach when he came across a lamp, partially buried in the sand. He picks up the lamp and gives it a rub.
A genie appears and tells him he has been granted one wish. The guy thinks for a moment and says, “I want to live forever.”
“Sorry,” said the genie, “I’m not allowed to grant eternal life.”
“OK, then, I want to die after the Labor Party balances the budget and eliminates all the debt.
“You crafty little bugger,” said the genie.
Have a great day
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