(June 2009) - PMI rises to 44.8 pct but New orders contracted to 49.2 pct from May high of 51.1 pct

WHAT RESPONDENTS ARE SAYING ...

• "Customer inventory burn is complete and real demand has reappeared." (Machinery)
• "... a lot of people are requoting old business and using favorable pricing to negotiate with their current suppliers." (Computer & Electronic Products)
• "Banks are reluctant to lend to businesses, and until this changes the economy will continue to be weak." (Fabricated Metal Products)
• "Slow June, but firm large orders in July, August and September." (Food, Beverage & Tobacco Products)
• "Market appears to have bottomed out as aftermarket has picked up slightly over the past month." (Transportation Equipment)

MANUFACTURING AT A GLANCE JUNE 2009
Index	Series Index June	Series Index May	Percentage Point Change	Direction	Rate of Change	Trend* (Months)
PMI	44.8	42.8	+2.0	Contracting	Slower	17
New Orders	49.2	51.1	-1.9	Contracting	From Growing	1
Production	52.5	46.0	+6.5	Growing	From Contracting	1
Employment	40.7	34.3	+6.4	Contracting	Slower	11
Supplier Deliveries	50.6	49.8	+0.8	Slower	From Faster	1
Inventories	30.8	32.9	-2.1	Contracting	Faster	38
Customers' Inventories	43.5	46.0	-2.5	Too Low	Faster	3
Prices	50.0	43.5	+6.5	Unchanged	From Decreasing	1
Backlog of Orders	47.5	48.0	-0.5	Contracting	Faster	14
Exports	49.5	48.0	+1.5	Contracting	Slower	9
Imports	46.0	42.5	+3.5	Contracting	Slower	17
OVERALL ECONOMY				Growing	Faster	2
Manufacturing Sector				Contracting	Slower	17

*Number of months moving in current direction.

Economic activity in the manufacturing sector PMI - 44.8% Jun3 2009

Economic activity in the manufacturing sector contracted 
(any number below 50 percent indicates contraction ).
The consensus range for this index was from 41 to 47.5. 
ISM's manufacturing index for the month of June 2009 was 44.8%, may 2009 PMI was 42.8%.

US Stock Indexes Futures up on first day of Q3

U.S. stock futures are pointing to a higher opening Wednesday as investors await data on the manufacturing and housing industries.

Futures are reflecting gains in European markets, which rose after upbeat reports on manufacturing activity in both Britain and the 16 countries that share the euro currency.

Later Wednesday morning, investors will get a reading on manufacturing activity in the U.S. Economists expect activity to have declined in June for the 17th straight month, but at the slowest pace since last August.

Sales of existing homes showed another gain in May

Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May's increase was the first back-to-back monthly gain since September 2005.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.4 percent to a seasonally adjusted annual rate¹ of 4.77 million units in May from a downwardly revised level of 4.66 million units in April, but remained 3.6 percent below the 4.95 million-unit pace in May 2008.

Dollar stays up as ongoing jobless claims improve - MarketWatch

Dollar stays up as ongoing jobless claims improve - MarketWatch

Posted using ShareThis

Initial Unemployment claim up 0.49; better than estimate

Initial Claims of unemployment up by 0.49%  better than average analyst estimate of 610K (bloomberg est).

In the week ending June 13, the advance figure for seasonally adjusted initial claims was 608,000, an increase of 3,000 from the previous week's revised figure of 605,000. The 4-week moving average was 615,750, a decrease of 7,000 from the previous week's revised average of 622,750.

Week 06/13 Jobless Claim Concensus

As per bloomberg the Jobless claims to rise to 610K (concensus est). Read more...

Whats up with housing data release in June

Mortgage Housing series update

Though housing construction make up 3% of US economy, but acts as a economic bellwether. So what does housing start jump in May 2009 reflect. To understand more about it read the article "Are housing starts a sign of the bottom? "

Bloomberg report that U.S. MBA Mortgage Applications Index Fell 16 Percent Last Week - Mortgage applications in the U.S. fell last week to the lowest level since November as the jump in borrowing costs over the last month caused refinancing to plunge further. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped 16 percent to 514.4 in the week ended June 12, from 611 the prior week. The group’s refinancing gauge declined 23 percent, while the purchase index fell 3.5 percent.

Futures & CPI

Marketwatch reports U.S. stock futures were trading in a tight range Wednesday, with FedEx's gloomy outlook keeping markets under pressure after two sessions of heavy losses. U.S. consumer prices increased a below-forecast 0.1% in May as higher gasoline prices were largely offset by falling food prices, the Labor Department reported Wednesday.It was the first increase in the consumer price index in three months. The core CPI - which excludes often-volatile food and energy prices -- also rose a seasonally adjusted 0.1% in May. The CPI has fallen 1.3% in the past year, the sharpest decline in prices since April 1950. (Bestbuy bellwether for the retial stock as per marketplace article)

U.S. May housing starts jump 17.2% to 532,000 rate - MarketWatch

U.S. May housing starts jump 17.2% to 532,000 rate - MarketWatch

Posted using ShareThis

Golden Cross yet to be achived for S&P 500 - Bloomberg

June 15 (Bloomberg) -- The Standard & Poor’s 500 Index may limp on its way toward a so-called golden cross as trading volume decreases, according to a technical analyst at RBC Capital Markets.

The major stock indexes “are back above their 200-day averages, and it’s increasingly tempting to conclude that a new bull market is underway,” Toronto-based Ray Hanson wrote in a report dated June 12. However, the S&P 500 “has not yet achieved a golden cross” and “the steadily declining volume since early May suggests caution,” he said.

Read More at Bloomberg

Futures Drop - Reason

Bloomberg Reports:
Futures on the S&P 500 expiring in September decreased 1 percent to 931 at 8:44 a.m. New York time, after the benchmark index climbed 40 percent from a 12-year low March 9. Dow Jones Industrial Average futures lost 1.1 percent to 8,643 and Nasdaq- 100 Index futures fell 0.8 percent to 1,473.5. Stocks also retreated in Europe and Asia.

“There is general concern that the three-month rally in equities means that stock prices have got ahead of reality,” said David Morrison, a London-based market strategist at GFT. “Oil and metals are sharply lower this morning and there is a growing realization that China is not yet ready to drag the global economy out of recession.”

Marketwatch Reports

In G8 meeting over the weekend - Finance Minister Alexei Kudrin reportedly said Russia has confidence in the U.S. currency. Upbeat dollar comments deflated commodity prices, hitting markets across Europe and Asia. Crude-oil futures fell 70 cents a barrel and silver and platinum futures fell.

The Empire state index fell to negative 9.4 in June from negative 4.6 in May, indicating the downturn broadened to more firms. Readings under zero indicate more firms said business was worsening than said it was improving.

CNN Money Reports

U.S. stocks were set to fall sharply Monday as a stronger dollar took momentum out of the commodities rally.

Path To Growth

Summary - Job Numbers Treasury to Decide New Weeks Market

Summary
321,480 properties in May 2009 had foreclosure filing initiated (default notice or auctions).
As of May, one (1) in every 398 Mortgage got a foreclosure filing
Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record.
one million foreclosure filings in a three-month period (March, April & May)
Temporary freezes on foreclosure activity ended in March.
RealtyTrac forecasts about 4 million foreclosure filings will be made this year on about 3.1 million households with loans. Last year, there was a record 3.1 million filings on about 2.4 million households.

Read complete report...

In another article titled "Mortgage Rates Head for 6 percent: 5 Reasons They Might Retreat", you can sense that the next week's job numbers is going to decide the trajectory of the market.

Data dive: The relative improvement of recent economic data--which has fueled optimism for a recovery--is also partly responsible for the rise in mortgage rates. "The data is not good yet, but it is at least less bad," says Richard Moody, the chief economist at Forward Capital. Over the fall and winter, 10-year treasury yields were depressed by the economic panic that boosted demand for ultrasafe government debt. But a growing sense of confidence has directed many investors to more risky assets like stocks instead of treasury bonds. As a result, treasury yields have increased, pushing mortgage rates higher. However, if future economic reports come in weaker than expected, investors could return to the safety of treasury bonds. "For example, next month's job numbers are probably going to be measurably worse than the last one," Zandi says, adding "and that will be a reminder" that the economy's troubles are not over yet.

And the other 4 reason
1. Government intervention:
3. Stock market tumble
4. Exit strategy:
5. Competition:
Read More ...

Review 2008 Foreclosure Filing stats...

Also heard

"The oil market will stabilise when the price of a barrel is at 90 dollars. This level should be reached between the middle and the end of 2010," Algeria's Energy Minister Chakib Khelil said in Algiers, according to the APS news agency.

In China - Industrial production, a key gauge of activity in factories and plants across China, grew 8.9 percent in May, the National Bureau of Statistics said -- compared to a 7.3 percent increase in April and 8.3 percent in March. Retail sales meanwhile grew 15.2 percent in May Read More...

Fortune has its list of 40 Stock

Fortune.com has posted its list of 40 stock that you can retire with.

link to the list of stocks

Consumer sentiment rises to 69 in June - MarketWatch

Consumer sentiment rises to 69 in June - MarketWatch
WASHINGTON (MarketWatch) -- U.S. consumer sentiment rose in June, but remained at relatively low levels, according to media reports of a survey released Friday by the University of Michigan and Reuters. The consumer sentiment index rose to 69 in mid-June from 68.7 in May. Economists were looking for a June result of 71. The index hit a 28-year low of 55.3 in November, and has averaged 88.2 over the last 10 years. Recent readings have been boosted by consumers' expectations that the end of the recession is approaching.

Posted using ShareThis

U.S. stock futures signal slightly weaker start - MarketWatch

U.S. stock futures signal slightly weaker start - MarketWatch

Posted using ShareThis

Third-party business fuels Amazon's overall growth - MarketWatch

Third-party business fuels Amazon's overall growth - MarketWatch

Posted using ShareThis

WSJ -- Single-Digit P/E Ratios

Low price/earnings ratios are usually easy to find, even when the broad market seems expensive. For example, the S&P 500-stock index has climbed more than 30% in three months and now trades at 22 times trailing earnings, well above stocks' 137-year average trailing P/E of 15. Still, one out of every eight index members has a P/E in single digits.

Not all low-P/E stocks are bargains, though. Modest valuations often mean earnings are expected to decline, and some declines suggest long-term decay. Others are simply temporary swings in consumer spending or raw materials prices. Shares of companies that trade cheaply because of expected, temporary earnings stumbles might be just the thing for investors worried that the broad market is priced for disappointment. For the humbly priced stocks to follow, a certain amount of anticipated disappointment is already priced in.

Chevron's earnings are expected to plunge this year but rebound sharply next year. My sympathies to the analysts who must come up with forecasts. Last summer, crude peaked at more than $145 a barrel. Just before Christmas, it fell below $35. Now it is over $70 again. Better, perhaps, to focus on the dividend yield, which stands at 3.7%, compared with about 2.3% for the broad market.

Carnival seems perfectly emblematic of the sort of pricey frolicking the middle class can do without during a recession. The stock is accordingly about half its price of two years ago. Profits are indeed expected to fall 27% in Carnival's fiscal year ending Nov. 30, but in its past two quarterly reports, the company topped estimates by double-digit percentages. One downside: Management scrapped the dividend late last year.

Archer Daniels Midland buys, stores, processes and ships crops. Over the long term, its usefulness to a hungry planet seems assured. In the short term, its profits can swing with the frenzy of a futures pit. Last quarter, the company missed earnings forecasts by 30%. The quarter before it beat estimates by 33%. The stock is nine times forecast earnings for its current fiscal year ending June 30, but 12 times next year's lower forecast. Still, the higher of the two numbers seems plenty reasonable compared with the broad stock market. Shares pay 2%. Below are listed these and two other stocks with single-digit P/Es.

—Jack Hough

Treasuries fell, pushing 10-year yields

Bloomberg Reports that

"Treasuries fell, pushing 10-year yields to the highest level since November, as the government prepared to sell $19 billion in the securities and Russia said it may switch some of its reserves from U.S. debt.
Thirty-year bond yields reached the most in a year after a Russian central bank official said the nation may buy International Monetary Fund bonds. The Federal Reserve bought $3.5 billion in debt maturing in 2019 through 2026. Today’s auction is the second of three sales this week that will raise $65 billion, part of the U.S.’s record borrowing program."

Read More ...

U.S. and China optimism lifts stock futures - MarketWatch

U.S. and China optimism lifts stock futures - MarketWatch

Posted using ShareThis

Bloomberg: Report Profits Diluted 4% by U.S

-- Read More at Bloomberg...

June 8 (Bloomberg) -- American common equity is increasing for the first time in five years, threatening to dilute corporate profits as companies sell a record amount of stock and cut dividends the most since 1938.

Wells Fargo & Co., ProLogis and more than 150 other companies raised $82.2 billion this quarter, beating the record pace at the height of the technology bubble in 2000, according to data compiled by Bloomberg. The combination of adding shares and restricting dividends will reduce annual equity returns as much as 4.1 percent, the data show.

Offerings since March 31 will increase outstanding shares in the S&P 500 by 3.4 percent on an annualized basis, adjusting for the market values of companies selling stock, data from Bloomberg and S&P show. The rise is based on S&P’s calculation of shares added or removed from the index through sales, buybacks and takeovers, known as the divisor.

The annualized increase in the S&P 500’s share count would cut estimated per-share profit this year by 3.3 percent to $57.23, data compiled by Bloomberg show.

The 46 percent decline in S&P 500 corporate earnings since its peak in the second quarter of 2007 is forcing companies to conserve cash by shrinking dividends, data compiled by Bloomberg show. Combined payouts will fall 23 percent to $21.97 per share for companies in the benchmark index this year, the most since the 36 percent drop in 1938, S&P estimates.

Dividend Yield

Cutting the dividend yield by 0.8 percentage point from last year to 2.34 percent and the dilution from share sales would cut the S&P 500’s total return by 4.1 percent, data compiled by Bloomberg show.

While a reduction of that size represents less than a third of the average yearly increase in the index from 1982 through 2007, it’s a bigger drag in markets battered by the worst losses in 70 years, when the S&P 500 tumbled 38 percent last year. U.S. equities have returned 6 percent on average since 1900, inflation-adjusted data compiled by the London Business School and Zurich-based Credit Suisse Group AG show.

Bank Losses

U.S. financial companies accounted for almost two-thirds of about $1.5 trillion in global asset writedowns and credit losses that drove shares of banks, brokers and insurers in the S&P 500 down as much as 84 percent since their 2007 peak.

Seventy-nine financial companies sold $60.7 billion of shares this quarter, reducing the claim existing shareholders have on earnings by more than 20 percent, data compiled by Bloomberg show.

Stock sales picked up as the S&P 500 rallied 39 percent from a 12-year low in March and surpassed the record $65.6 billion from the first quarter of 2000, just as the gauge started a 49 percent plunge. The 153 companies that have sold equity since March increased their outstanding shares by an average of 23 percent, according to data compiled by Bloomberg.

The U.S. will shrink by the most since 1946 this year, according to a Bloomberg survey of 61 economists. The jobless rate rose to 9.4 percent in May, a government report showed June 5. Corporate earnings are forecast to decline for two more quarters after dropping the last seven, the longest streak since the Great Depression, analysts’ estimates compiled by Bloomberg show.

‘Rapid Return’

“What we find is that secondary-equity offerings frequently signal a view in management suites that prices are rich,” said Robert Arnott, chairman and founder of Research Affiliates, which oversees $32 billion in Newport Beach, California. “Does that mean this is an interim top? Who knows, but it would be unsurprising.”

-- Read More...

U.S. stock futures point to weaker start - MarketWatch

U.S. stock futures point to weaker start - MarketWatch

Posted using ShareThis

U.S. chicken producers on the mend - MarketWatch

U.S. chicken producers on the mend - MarketWatch

Posted using ShareThis

No chemicals just tap water to clean - Activeion

No chemicals just tap water - Bottle costs $300

The Activeion hand-held sprayer transforms tap water into a powerful cleaner that works as well as or better than other general-purpose, commercial chemical and "green" cleaning products. Using an advanced technology, the Activeion hand-held sprayer is a general-purpose, daily-use cleaner that can be used on both hard (i.e., marble/granite and stainless steel) and soft surfaces (i.e., carpet and clothing), freeing consumers and professionals from harmful chemicals and toxins. The versatility of the product allows the user to replace many of today's most common daily-use cleaners. More video

The science of Activeion

The science that now frees you from chemicals has been used for decades in the food processing, industrial technology, and health-related industries. We’ve just taken the technology and integrated it into a sprayer for the cleaning industry.

1. Charging
A water cell applies a slight electrical charge to the tap water.


2. Transforming
The charged water passes through an ion exchange membrane, creating an oxygen-rich mixture of positive and negative nano-bubbles.


3. Cleaning
The activated water now attracts dirt like a magnet and lifts it from the surface, enabling it to be easily wiped away.

Learn how Activeion technology truly is a revolution in cleaning.

Activeion license its technology ( ec-H2O™) from Tennant Company (NYSE:TNC)- a recognized leader in designing, manufacturing and marketing solutions that help create a cleaner, safer world.

Ran Lerner Design - Waste Free Packaging

Ran Lerner Design

PSM (HK) Co Ltd

Plastarch Material ("PSM"), which is a revolutionary ecological material; is a combination of "plastic functional characteristics and starch biodegradable advantages"; and can be use for a large variety of manufacturing processes such as film blowing, injection molding, sheet extrusion, thermoforming and foaming. PSM has become part of the substitution products on plastic in which it has a very competitive price and excellent product performance in terms of durable and totally degradable under compost conditions and by incineration as well.

PSM is a polymer that is derived from the natural source of corn starch. Corn starch is a kind of polysaccharide polymer which consists of glucoses. It has two separate forms of linear and branched molecules, named as amylose and amylopectin respectively. During the modification process, corn starch is mixed with cellulose and enzymes in a large stirrer where condensation and polymerization happen to modify the starch properties. Enzyme addition and crosslink technique transforms the molecular structure of starch which has three distinguishable properties:

• Change from hydrophile to hydrophobe
• Change from heat sensitivity to high temperature resistance
• Change from brittleness to plasticity

Using Moving Averages to Find Winning Stocks

Using Moving Averages to Find Winning Stocks


Shared via AddThis

US Stock Rally Evaporates After Commodity Prices Turn Lower - MarketWatch

US Stock Rally Evaporates After Commodity Prices Turn Lower - MarketWatch

Posted using ShareThis

CFO - More Companies Tripping up on Loan Covenants

A number of highly leveraged firms are now breaching the leverage ratios, fixed-charge coverage ratios, and net-worth minimums that were set in stronger, more-liquid markets. According to Standard & Poor's Leveraged Commentary & Data, there were 98 covenant amendments (publicly disclosed ones, that is) to high-yield corporate loan agreements in the first quarter of 2009, up from 62 in the previous quarter. Experts expect just as many, if not more, in the second quarter.

Other, less-leveraged companies will also be talking to their lenders about amending covenants. (According to one academic study, between a quarter and a third of all public companies will trip a loan covenant over a 10-year period.) And the conversations may not be pleasant. When credit was abundant, many banks felt they were taken advantage of, says Steven Bavaria, managing director of leveraged finance at credit-rating agency DBRS. "The gun was at their heads to reduce fees and spreads," he says. "Now some of the same borrowers have to go hat in hand and ask for covenant relief. They shouldn't expect a warm, helping hand from the bankers." Read more...

U.S. stock futures waver as recovery debated - MarketWatch

U.S. stock futures waver as recovery debated - MarketWatch

Posted using ShareThis

FHA Loans: Return to 0% Down

A little-noticed Federal Housing Administration program will let first-time home buyers use their $8,000 tax credit for down payments or closing costs

The days of home buying with little or no money down may be back—this time thanks to Uncle Sam.

Blamed for contributing to the housing bubble, zero-down-payment loans largely vanished when the market crashed and Congress blocked seller financing for government-backed loans. Now the federal government will be forking over cash at closing. Read more

News and data that affected markets on 06/03

Worse-than-expected data on factor orders (orders rose just 0.7 percent in April when analysts had called for a 0.9 percent increase) and services industry triggered a sell-off in stocks following 4 weeks of gain. There was also profit booking transaction that move the market.

Keep a close eye on any rise in Treasury yields and a sign of weakness in dollar

On Tuesday stocks extended a rally into a fourth day following an unexpectedly big spike in pending home sales, the latest sign that the battered housing market is starting to turn around.

U.S. stocks slipped early Wednesday as new jobs data beat expectations but neverthelesss showed a continued hemorrhage of jobs in the U.S. economy.

Read more...

U.S. stock futures pause after Monday's rally - MarketWatch

U.S. stock futures pause after Monday's rally - MarketWatch

Posted using ShareThis

US Stocks Higher On Global Data Pointing To Recovery - MarketWatch

US Stocks Higher On Global Data Pointing To Recovery - MarketWatch

Posted using ShareThis

U.S. stock futures advanced

June 1 (Bloomberg) -- U.S. stock futures advanced, indicating the Standard & Poor’s 500 Index may extend gains from the first-three month winning stretch since its 2007 record, as growth in Chinese manufacturing boosted confidence the global economy is recovering.

Alcoa Inc., the largest U.S. aluminum producer, Freeport- McMoRan Copper & Gold Inc. and Barrick Gold Corp. climbed with higher metals prices. Exxon Mobil Corp., the biggest U.S. oil company, and ConocoPhillips gained as crude rallied and China increased prices of gasoline and diesel by as much as 8 percent.

Futures on the Standard & Poor’s 500 Index expiring in June added 1.6 percent to 932.5 at 9 a.m. in New York, even after General Motors Corp. filed for bankruptcy. Dow Jones Industrial Average futures rose 1.3 percent to 8,598. Nasdaq-100 Index futures climbed 1.1 percent to 1,451.

“Investors are reacting to increased optimism surrounding economic numbers,” said Peter Jankovskis, who helps manage $1.2 billion at OakBrook Investments in Lisle, Illinois. “The surge in commodities prices is an indication that people see an economic recovery taking place.”

Who is Al Koch? - (GM to file for Chapter 11)

Read on Bloomberg "GM to Name Al Koch to Top Restructuring Position, WSJ Reports"

Also on marketwatch "GM set to file Ch. 11 Monday morning"

Who is AL Koch?

Albert A. Koch, a turnaround specialist and managing director at the advisory company AlixPartners LLP, was a partner with Ernst & Young for 14 years, including seven years as Managing Partner of the firm's Detroit office. He holds a bachelor's degree in accounting from Elizabethtown College, and is a member of several professional associations. He is a Certified Turnaround Professional and a Fellow of the American College of Bankruptcy, its Treasurer and a member of its Board of Directors. He also is a member of the American Bankruptcy Institute, and the American Institute of CPAs.

Mr. Koch served as interim Chief Financial Officer of Kmart Corporation. In this position, he provided executive leadership and led the development of a multi-year operating business plan, as well as driving financial performance in conformity with the plan. His other assignments have included serving as interim CFO of Oxford Health Plans and leading the restructuring of Ryder System, Inc., which resulted in the building of significant shareholder value.

In 30th June 2002, Al Koch was appointed as interim President & CEO of Champion Enterprises Inc which was in the brink of bankruptcy. To prevent chapter 11 filing, he closed down the company's (manufactured) housing loan origination business, HomePride Finance Corp, four manufacturing facilities and 35 retail sales centers. After putting the company on the path to sustainable profitablity, he stepped down and a new CEO was appointed in 2004. But was the success of the turnaround due to the housing bubble that was brewing because of Greenspan's low interest rate. Currently the company's shares are trading at $0.44.

By appointed Al Koch, GM is again doing more of the same - appointing accountants and business graduates to the top position. They need to appointing someone with engineering experience with an understanding of business, reason being GM is firstly an engineering company and secondly a manufacturing company. This current appointment will send the wrong message to the rank and file.

Hybrid Assistive Limb 5 (HAL 5) From CYBERDYNE Inc

"Robot Suit HAL" is a cyborg-type robot that can expand and improve physical capability.

Photo essay on Cyberdyne's Real Robot at Time.com

Super Size Me

Market Gained over 1 Pct in the last 22 mins

On 29 may 2009 market moved up towards the end of the market after a choppy day.

From Marketwatch.com

U.S. stocks post firm gains for the month of May

NEW YORK (MarketWatch) -- U.S. stocks finished the week and the month of May on a high note, as rallying commodities led the market to higher ground on Friday and helped give the broad market a 5.3% gain for the month. After a late rally on Friday, the Dow Jones Industrial Average (INDU 8,500, +96.69, +1.15%) gained 96 points, or 1.1%, to end at 8,500. Shares of General Motors Corp. (GM 0.78, +0.03, +4.00%) still slumped 33% as markets braced for the auto giant's bankruptcy. The S&P 500 index (SPX 919.14, +12.31, +1.36%) rose 12 points, or 1.4%, to 919, while the Nasdaq Composite (COMP 1,774, +22.54, +1.29%) rose 22 points, or 1.3%, to 1,774. For the week, the Dow gained 2.7%, the S&P rose 3.6%, and the Nasdaq gained 4.9%. For the month, the Dow rose 4%, the S&P gained 5.3%, and the Nasdaq rose 3.3%.

US Stocks Slightly Higher In Choppy Trade; Materials Up - MarketWatch

US Stocks Slightly Higher In Choppy Trade; Materials Up - MarketWatch

Posted using ShareThis

Rethink your email, IM, Text Messaging - With Google Wave

Came across an article on nextbigfuture.com about Google Wave, a new model for communication and collaboration on the web

Other E Reader -readius

Weight:
Ultra light. At 115g just one third the average weight of current eBook readers
Display size:
Large 5" display, 16 greyscales
Device size:
The only pocket sized eReader
Battery life:
30 hours of continuous reading
Connectivity:
Global wireless connectivity, with the greatest coverage of any eReader (Tri Band/3.5G HSDPA)
Supporting ActiveSync and USB mass storage (USB FS)
Communication with accessories and other devices (Bluetooth 2.0)
Processor:
Powerful processing engine (ARM11 400MHz)
Storage:
Flexible, today commercially available up to 8GB (High Capacity Micro SD)
User Interface:
Just 8 SimpleTouch Buttons

New E Readers' - Kindle take note

New E Reader Amazon Kindle alternative

Watch this report on Cool-er Reader by David Pogue.

Coolreaders specification click here

Alexander Wolfe in his blog did make a good point

The deal is, ebook competitors can come up with platforms which slice bread and take you out dancing. It won't matter. Amazon has become the iTunes of the electronic book world, and its competitors are destined to fates comparable to those of the iPod's mp3-player alternatives. Namely, miniscule market shares.

But this new product, which already is making buzz in the electronic world, is more about the technology than the content in its library. Plastic Logic has made a reader using plastic screen thereby reducing weight. Hopefully Amazon can incorporate it in the next version Kindle 3.0.

Here is what Technology Review wrote about this new product

Plastic Logic's Touch-Screen E-Reader

The company hopes to carve out a niche with its touch-based interface.

As with both the Kindle and the Sony Reader, Plastic Logic's display is built using E-ink: black and white microcapsules are suspended in a liquid and controlled using an electric charge. When a charge is applied, the microcapsules assume their position and form black text on a white background. However, in Plastic Logic's reader, the E-ink is deposited on a lightweight plastic backplane instead of on a glass backplane. Plastic Logic says that the plastic backplane allows for a larger reading area without adding more weight or bulk, and this makes the device more robust.

Plastic Logic hopes to further distinguish its reader from Amazon's Kindle and the Sony Reader by targeting those who read business documents created using Microsoft Office and Adobe Acrobat, as well as image files and standard e-reader files. The goal is to eliminate "the huge stack of papers that people take with them when they travel," says Glass. Many people need to sort through thousands of documents quickly, he adds, and want to mark them up by circling or underlining items or by adding notes.

Watch Video from MIT Tech Review website.

What's the next holy grail for e-reader "Color Display"

50 Best Websites 2008 - TIME

GasBuddy - 50 Best Websites 2008 - TIME

Shared via AddThis

Sorting the Jewels from the Junk in the iTunes Store - Top 11 iPhone Applications - TIME

Sorting the Jewels from the Junk in the iTunes Store - Top 11 iPhone Applications - TIME

Shared via AddThis

Stocks cling to gains after sentiment uptick - MarketWatch

Stocks cling to gains after sentiment uptick - MarketWatch

Posted using ShareThis

Microsoft Bing: The Full Press Release

Microsoft Bing: The Full Press Release

Posted using ShareThis

U.S. stocks pointing higher with data, GM in view - MarketWatch

U.S. stocks pointing higher with data, GM in view - MarketWatch

Posted using ShareThis

S&P Futures up 4.5 (0.5%), Nasday Futures up 4.25 points (0.3%) and Dow futures up 37 points (0.44%) on June 09 contracts. (9.08 AM)

John Dvorak's Second Opinion: The good news and bad news on Bing - MarketWatch

John Dvorak's Second Opinion: The good news and bad news on Bing - MarketWatch

Posted using ShareThis

Stocks regain pace after Treasury auction - MarketWatch

Stocks regain pace after Treasury auction - MarketWatch

Posted using ShareThis

PC Mag Bing Screen Print -- Who is Sascha Segan?

Lazy to do another print screen. In slide show related to today's (05/28) PC magazine article " Hands On with Microsoft's Bing Search" you can see a Microsoft outlook notification at the bottom of the screen from Sascha Segan.

US Stocks Turn Lower On New Home Sales Data - MarketWatch

US Stocks Turn Lower On New Home Sales Data - MarketWatch

Posted using ShareThis

U.S. stocks turn negative after housing data - MarketWatch

U.S. stocks turn negative after housing data - MarketWatch

Posted using ShareThis

Futures up

The S&P 500 Jun 08 is up 4.5 (0.50%) Nasdaq 100 Jun 09 up 6.5 points (0.46%) and Dow Jones Futures is up 47 points (0.57%) at9.28 AM (28 May 2009)

Futures edge higher after strong durable goods data

Auto sector remains in focus; Time Warner to spin off AOL unit

US Census Bureau

New Orders

New orders for manufactured durable goods in April increased $3.0 billion or 1.9 percent to $161.5 billion, the U.S. Census Bureau announced today. This was the second increase in the last three months and followed a 2.1 percent March decrease. Excluding transportation, new orders increased 0.8 percent. Excluding defense, new orders also increased 1.0 percent.

Shipments

Shipments of manufactured durable goods in April, down nine consecutive months, decreased $0.3 billion or 0.2 percent to $174.2 billion. This was the longest streak of consecutive monthly decreases since the series was first published on a NAICS basis in 1992 and followed a 1.9 percent March decrease.

Unfilled Orders

Unfilled orders for manufactured durable goods in April, down seven consecutive months, decreased $8.9 billion or 1.2 percent to $748.9 billion. This followed a 1.7 percent March decrease.

Inventories

Inventories of manufactured durable goods in April, down four consecutive months, decreased $2.6 billion or 0.8 percent to $327.0 billion. This followed a 1.7 percent March decrease.

Capital Goods Industries

Nondefense

Nondefense new orders for capital goods in April decreased $1.0 billion or 2.0 percent to $49.5 billion.

Defense

Defense new orders for capital goods in April increased $2.0 billion or 23.2 percent to $10.8 billion.

FDIC - Report more banks in problem list

Twenty-one FDIC-insured institutions failed during the first quarter, the largest number since the fourth quarter in 1992. The FDIC's "Problem List" grew during the quarter from 252 to 305 institutions, and total assets of problem institutions increased from $159 billion to $220 billion.

Not Generating enough cash/profits?

Three out of five insured institutions reported lower net income in the first quarter and one in five was unprofitable.

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported net income of $7.6 billion in the first quarter of 2009, a decline of $11.7 billion (60.8 percent) from the $19.3 billion that the industry earned in the first quarter of 2008.

Read the full press release

list of failed banks since 2000

This list includes banks which have failed since October 1, 2000. Bank Name CERT # Closing Date Updated Date Citizens National Bank, Macomb, IL 5757 May 22 2009 May 27 2009 Strategic Capital Bank, Champaign, IL 35175 May 22 2009 May 27 2009 BankUnited, FSB, Coral Gables, FL 32247 May 21 2009 May 27, 2009 Westsound Bank, Bremerton, WA 34843 May 8, 2009 May 12, 2009 America West Bank, Layton, UT 35461 May 1, 2009 May 18, 2009 Citizens Community Bank, Ridgewood, NJ 57563 May 1, 2009 May 7, 2009 Silverton Bank, N.A., Atlanta, GA 26535 May 1, 2009 May 7, 2009 First Bank of Idaho, Ketchum, ID 34396 April 24, 2009 May 18, 2009 First Bank of Beverly Hills, Calabasas, CA 32069 April 24, 2009 May 18, 2009 Michigan Heritage Bank, Farmington Hills, MI 34369 April 24, 2009 May 7, 2009 American Southern Bank, Kennesaw, GA 57943 April 24, 2009 May 7, 2009 Great Basin Bank of Nevada, Elko, NV 33824 April 17, 2009 May 18, 2009 American Sterling Bank, Sugar Creek, MO 8266 April 17, 2009 May 7, 2009 New Frontier Bank, Greeley, CO 34881 April 10, 2009 May 7, 2009 Cape Fear Bank, Wilmington, NC 34639 April 10, 2009 May 7, 2009 Omni National Bank, Atlanta, GA 22238 March 27, 2009 May 7, 2009 TeamBank, National Association, Paola, KS 4754 March 20, 2009 May 7, 2009 Colorado National Bank, Colorado Springs, CO 18896 March 20, 2009 May 7, 2009 FirstCity Bank, Stockbridge, GA 18243 March 20, 2009 May 7, 2009 Freedom Bank of Georgia, Commerce, GA 57558 March 6, 2009 May 7, 2009 Security Savings Bank, Henderson, NV 34820 February 27, 2009 May 7, 2009 Heritage Community Bank, Glenwood, IL 20078 February 27, 2009 May 7, 2009 Silver Falls Bank, Silverton, OR 35399 February 20, 2009 May 7, 2009 Pinnacle Bank of Oregon, Beaverton, OR 57342 February 13, 2009 May 7, 2009 Corn Belt Bank and Trust Company, Pittsfield, IL 16500 February 13, 2009 May 7, 2009 Riverside Bank of the Gulf Coast, Cape Coral, FL 34563 February 13, 2009 May 7, 2009 Sherman County Bank, Loup City, NE 5431 February 13, 2009 May 7, 2009 County Bank, Merced, CA 22574 February 6, 2009 May 7, 2009 Alliance Bank, Culver City, CA 23124 February 6, 2009 May 7, 2009 FirstBank Financial Services, McDonough, GA 57017 February 6, 2009 May 7, 2009 Ocala National Bank, Ocala, FL 26538 January 30, 2009 May 7, 2009 Suburban Federal Savings Bank, Crofton, MD 30763 January 30, 2009 May 7, 2009 MagnetBank, Salt Lake City, UT 58001 January 30, 2009 May 7, 2009 1st Centennial Bank, Redlands, CA 33025 January 23, 2009 May 1, 2009 Bank of Clark County, Vancouver, WA 34959 January 16, 2009 April 24, 2009 National Bank of Commerce, Berkeley, IL 19733 January 16, 2009 April 24, 2009 Sanderson State Bank, Sanderson, TX En Español 11568 December 12, 2008 April 24, 2009 Haven Trust Bank, Duluth, GA 35379 December 12, 2008 April 24, 2009 First Georgia Community Bank, Jackson, GA 34301 December 5, 2008 April 24, 2009 PFF Bank and Trust, Pomona, CA 28344 November 21, 2008 April 24, 2009 Downey Savings and Loan, Newport Beach, CA 30968 November 21, 2008 April 24, 2009 The Community Bank, Loganville, GA 16490 November 21, 2008 April 24, 2009 Security Pacific Bank, Los Angeles, CA 23595 November 7, 2008 April 24, 2009 Franklin Bank, SSB, Houston, TX 26870 November 7, 2008 April 24, 2009 Freedom Bank, Bradenton, FL 57930 October 31, 2008 April 24, 2009 Alpha Bank & Trust, Alpharetta, GA 58241 October 24, 2008 April 28, 2009 Meridian Bank, Eldred, IL 13789 October 10, 2008 April 24, 2009 Main Street Bank, Northville, MI 57654 October 10, 2008 April 24, 2009 Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT 32633 September 25, 2008 April 24, 2009 Ameribank, Northfork, WV 6782 September 19, 2008 April 24, 2009 Silver State Bank, Henderson, NV En Español 34194 September 5, 2008 April 28, 2009 Integrity Bank, Alpharetta, GA 35469 August 29, 2008 April 24, 2009 The Columbian Bank and Trust, Topeka, KS 22728 August 22, 2008 April 24, 2009 First Priority Bank, Bradenton, FL 57523 August 1, 2008 April 24, 2009 First Heritage Bank, NA, Newport Beach, CA 57961 July 25, 2008 April 24, 2009 First National Bank of Nevada, Reno, NV 27011 July 25, 2008 April 24, 2009 IndyMac Bank, Pasadena, CA 29730 July 11, 2008 April 24, 2009 First Integrity Bank, NA, Staples, MN 12736 May 30, 2008 April 24, 2009 ANB Financial, NA, Bentonville, AR 33901 May 9, 2008 April 24, 2009 Hume Bank, Hume, MO 1971 March 7, 2008 April 24, 2009 Douglass National Bank, Kansas City, MO 24660 January 25, 2008 April 24, 2009 Miami Valley Bank, Lakeview, OH 16848 October 4, 2007 April 24, 2009 NetBank, Alpharetta, GA 32575 September 28, 2007 April 24, 2009 Metropolitan Savings Bank, Pittsburgh, PA 35353 February 2, 2007 April 24, 2009 Bank of Ephraim, Ephraim, UT 1249 June 25, 2004 April 9, 2008 Reliance Bank, White Plains, NY 26778 March 19, 2004 April 9, 2008 Guaranty National Bank of Tallahassee, Tallahassee, FL 26838 March 12, 2004 April 24, 2009 Dollar Savings Bank, Newark, NJ 31330 February 14, 2004 April 9, 2008 Pulaski Savings Bank, Philadelphia, PA 27203 November 14, 2003 July 22, 2005 The First National Bank of Blanchardville, Blanchardville, WI 11639 May 9, 2003 April 24, 2009 Southern Pacific Bank, Torrance, CA 27094 February 7, 2003 October 20, 2008 The Farmers Bank of Cheneyville, Cheneyville, LA 16445 December 17, 2002 October 20, 2004 The Bank of Alamo, Alamo, TN 9961 November 8, 2002 March 18, 2005 AmTrade International Bank of Georgia, Atlanta, GA En Español 33784 September 30, 2002 September 11, 2006 Universal Federal Savings Bank, Chicago, IL 29355 June 27, 2002 April 9, 2008 Connecticut Bank of Commerce, Stamford, CT 19183 June 26, 2002 April 24, 2009 New Century Bank, Shelby Township, MI 34979 March 28, 2002 March 18, 2005 Net 1st National Bank, Boca Raton, FL 26652 March 1, 2002 April 9, 2008 NextBank, N.A., Phoenix, AZ 22314 February 7, 2002 April 24, 2009 Oakwood Deposit Bank Company, Oakwood, OH 8966 February 1, 2002 April 24, 2009 Bank of Sierra Blanca, Sierra Blanca, TX 22002 January 18, 2002 November 6, 2003 Hamilton Bank, N.A., Miami, FL En Español 24382 January 11, 2002 April 24, 2009 Sinclair National Bank, Gravette, AR 34248 September 7, 2001 February 10, 2004 Superior Bank, FSB, Hinsdale, IL 32646 July 27, 2001 April 24, 2009 The Malta National Bank, Malta, OH 6629 May 3, 2001 November 18, 2002 First Alliance Bank & Trust Company, Manchester, NH 34264 February 2, 2001 February 18, 2003 National State Bank of Metropolis, Metropolis, IL 3815 December 14, 2000 March 17, 2005 Bank of Honolulu, Honolulu, HI 21029 October 13, 2000 March 17, 2005

Last Updated 05/27/2009