Friday, February 15, 2013

Herbalife accused of being a pyramid scheme= 1 Billion Short Attack



Herbalife Ltd. shares soared after documents revealed corporate raider Carl Icahn's huge stake in the Los Angeles-based maker of nutritional foods and supplements.
Shortly after the opening bell on Wall Street, Herbalife shares added $4.72, or 12.3%, to $42.99.
A regulatory filing Thursday showed Icahn has paid $214 million for 14 million Herbalife shares, or 13% of the company.
Icahn previously would not disclose whether he had invested in the company. The storied billionaire investor recently squared off, on live television, with fellow New York hedge fund manager Bill Ackman, chief executive of Pershing Square Capital Management.
On Dec. 20, Ackman accused Herbalife of being a pyramid scheme that defrauds distributors of its products. He announced a $1-billion "short" against the company, a massive bet that its stock will fall.
Herbalife shares plunged after Ackman's presentation. The company launched a public-relations counter-attack and accelerated a share buy-back. With Friday's pop in Herbalife stock, the company's shares were  trading slightly higher than they were before Ackman's presentation.
That raises the possibility of a "short squeeze," a run-up in demand for a stock that could wind up costing investors like Ackman, who have bet the stock will decline.
The U.S. Securities and Exchange Commission filing said Icahn would discuss with management the possibility of taking Herbalife private or finding new capital.
Icahn believes the company has a "legitimate business model, with favorable long-term opportunities for growth," according to the filing.
Ackman responded to Icahn's stake in a statement Friday:
“We invest based on a careful analysis of the facts. After 18 months of due diligence, we have concluded that it is a certainty that Herbalife is a pyramid scheme.  Our conclusions are unaffected by who is on the other side of the investment.  Our goal was to shine a spotlight on Herbalife.  To the extent that Mr. Icahn is helping achieve this objective, we welcome his involvement.”

Saturday, February 9, 2013

Canadian stocks hit a one-week high on Friday,

By Claire Sibonney


TORONTO (Reuters) - Canadian stocks hit a one-week high on Friday, led by financial and energy shares, as positive economic data from China, Europe and the United States offset weak domestic numbers and as Manulife Financial Corp (MFC.TO: Quote) rose on reaction to its results.
China's exports and imports surged in January, the country's first hard data of the year showed, pointing to robust domestic demand and a pick-up in the economy.

That more than offset news that Canada's economy unexpectedly shed 21,900 jobs in January, delivering a reality check after months of outsized employment growth, and confirming forecasts of slowing economic expansion.

"I think the next couple of weeks now you'll see the Canadian market react to the specific earnings, more so than the overall economic picture," said John Kinsey, portfolio manager at Caldwell Securities, noting volumes were very light on Friday because of the snowstorm hitting Canada and the U.S. Northeast.

Manulife, which reported a return to quarterly profit on Thursday, was one of the most influential stocks in leading the market higher. The insurer extended the modest gain it made on Thursday after several analysts raised their price targets for the stock. Manulife shares were up 2 percent at C$14.84.
Toronto-Dominion Bank (TD.TO: Quote) rose 0.7 percent to C$83.43.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 45.31 points, or 0.36 percent, at 12,801.23, after touching 12,823.50, its highest point since January 30. The TSX ended the week up 0.3 percent.

The index was not riding as high as its counterparts on Wall Street, with the Nasdaq at a 12-year closing high and the S&P 500 index at a five-year peak. .N   Continued...

BNK.to Up 2.94% On This News


Recent Trades - Last 10 of 2713

Time ETExPriceChangeVolumeBuyerSellerMarkers
16:00:00T3.150.0970079 CIBC80 National BankKQ
16:00:00T3.150.0910072 Credit Suisse80 National BankKQ
16:00:00T3.150.091001 Anonymous80 National BankKQ
16:00:00T3.150.0960072 Credit Suisse80 National BankKQ
16:00:00T3.150.095001 Anonymous80 National BankKQ
16:00:00T3.150.093001 Anonymous39 Merrill LynchKQ
16:00:00T3.150.0920080 National Bank80 National BankKQ
15:59:59T3.150.0920079 CIBC1 AnonymousK
15:59:55T3.150.093,0007 TD Sec7 TD SecK
15:59:40T3.160.09122 RBC82 Stifel Nicholas E


Bankers Climbs On This News: 

http://www.bnkpetroleum.com/en/

Albania throws out offer from Albanian-U.S. Vetro Energy * Vetro failed to pay its 20 percent guarantee * Negotiators to talk to China's Win Business By Benet Koleka TIRANA, Feb 8 (Reuters) - Albania has invalidated the winning 850 million euro ($1.1 billion) bid by Vetro Energy to buy its Albpetrol oil company after the Albanian-U.S. firm failed to come up with an initial payment,

 the energy minister said. Minister Edmond Haxhinasto said on national television on Friday that the government had decided to "consider the first offer invalid" after Vetro failed to pay 170 million euros, equal to 20 percent of its bid. Vetro had asked for a postponement but still failed to pay by a second deadline on Dec. 3. The agreed price, equal to about 10 percent of Albania's gross domestic product, would have been a windfall that the Balkan state could have used to help reduce its budget deficit and public debt.

 "This (government's) decision has authorized the group of negotiators to continue evaluating the other offers," Haxhinasto, who serves also as deputy prime minister, told Top Channel. Chinese consortium Win Business, with an offer of 298 million euros, was next in line to talk to Albanian negotiators, followed by Bankers Petroleum of Canada, which offered 106 million euros.

The government has offered to sell all of Albpetrol's above-ground assets, the right to explore and exploit oil and gas for 25 years and licences to build a refinery and transport and distribute gas.

Chinese consortium Win Business, with an offer of 298 million euros, was next in line to talk to Albanian negotiators, followed by Bankers Petroleum of Canada, which offered 106 million euros.

 A source close to Vetro's majority shareholder, Albanian oil businessman Rezart Taci, said the group was "surprised by the decision because we were working to finalise the deal". The decision could not found on the government's website, where such decisions are normally published.

 The government cancelled the deal after waiting on Vetro for two months and as it starts to prepare for parliamentary elections on June 23.

House Positions for C:BNK from 20130208 to 20130208
HouseBought$ValAveSold$ValAveNet$Net
9 BMO Nesbitt341,9001,068,5023.12521,71767,8323.123320,183-1,000,670
27 Dundee575,3001,792,1973.115426,3001,320,8183.098149,000-471,379
121 Jennings85,550265,0203.0980
85,550-265,020
79 CIBC250,700784,9983.131185,768581,1093.12864,932-203,889
90 Barclays42,900135,0013.1470
42,900-135,001
53 Morgan Stanley24,60077,4263.1471,8605,7943.11522,740-71,632
19 Desjardins18,00056,5953.1441,4004,3613.11516,600-52,234
2 RBC25,16778,6773.1269,50029,8333.1415,667-48,844
10 FirstEnergy6,00018,8403.140
6,000-18,840
15 UBS11,70036,6383.1316,40019,7393.0845,300-16,899
89 Raymond James6,00019,0203.172,0006,2603.134,000-12,760
99 Jitney2,0006,3203.160
2,000-6,320
37 MacDougall1,0003,1203.120
1,000-3,120
123 Citigroup8522,6693.1330
852-2,669
82 Stifel Nicholas 77,397242,2243.1376,566240,1533.137831-2,071
72 Credit Suisse7002,2053.150
700-2,205
101 Newedge10,90034,3083.14810,30032,0193.109600-2,289
48 Laurentian4001,2283.070
400-1,228
57 Interactive652013.0920
65-201
58 Qtrade501553.100
50-155
14 ITG461413.0650
46-141
59 PI0
2006153.075-200615
88 Credential0
8002,4903.113-8002,490
81 HSBC0
1,8705,8033.103-1,8705,803
33 Canaccord312,811975,9703.12315,100983,1123.12-2,2897,142
124 Questrade8,40026,3513.13713,79042,6103.09-5,39016,259
80 National Bank3009443.14722,88071,1033.108-22,58070,159
39 Merrill Lynch5,20016,1883.11334,200105,2783.078-29,00089,090
85 Scotia3,50010,8873.11134,735108,1873.115-31,23597,300
7 TD Sec41,875131,1193.131117,827369,0533.132-75,952237,934
11 MacQuarie0
100,000315,0003.15-100,000315,000
13 Instinet99,800308,8093.094200,700627,2303.125-100,900318,421
1 Anonymous254,700792,5463.112623,9001,949,9003.125-369,2001,157,354
TOTAL2,207,8136,888,2993.122,207,8136,888,2993.1200


Close Prices Last 3 MonthsPrice/volumes not adjusted for restructures
DateExSymOpenHighLowCloseChgTotal Vol#TrBidAsk
T-TSX
A-Alpha
X-Chi-X
P-Pure
O-Omega
M-TriAct
L-LiquidNet
E-TMX Select
2013-02-08TBNK3.063.173.063.150.093,070,2542,7133.153.16
2,207,813
204,641
379,200
224,400
8,400
21,600


24,200
2013-02-07TBNK3.063.082.983.06
1,392,6022,4903.053.06
968,702
196,600
180,600
9,500
8,700
11,400


17,100
2013-02-06TBNK3.033.082.953.07
1,405,8882,5983.063.07
818,688
150,800
189,700
57,900
23,000
148,400


17,400
2013-02-05TBNK3.073.083.043.06
674,0831,8063.053.06
358,615
122,668
152,900
8,000
11,900
5,100


14,900
2013-02-04TBNK3.033.083.033.06-0.02685,9901,4153.053.06
394,844
109,246
130,000
8,600
12,100
13,900


17,300
2013-02-01TBNK3.073.103.053.080.012,288,9932,9133.073.08
1,548,534
328,136
339,900
1,323
46,400
11,800


12,900
2013-01-31TBNK3.053.073.033.07-0.021,095,9062,1303.063.08
687,023
173,383
170,100
3,900
32,500
6,000


23,000
2013-01-30TBNK3.073.113.063.090.023,077,9232,9563.083.09
2,135,028
340,226
548,800
11,469
16,600
7,300


18,500
2013-01-29TBNK3.083.143.023.07
1,629,5803,8163.063.07
1,093,561
231,819
207,200
13,200
10,000
51,300


22,500
2013-01-28TBNK3.083.093.033.08-0.012,460,8793,1443.073.08
1,507,427
226,452
518,800
61,300
24,500
98,000


24,400
2013-01-25TBNK3.123.143.063.08-0.03693,0072,0013.073.08
398,937
113,270
101,900
4,100
7,900
43,500


23,400
2013-01-24TBNK3.093.203.083.110.051,757,4263,9913.113.13
985,488
310,538
228,800
19,400
23,800
75,000
100,000
14,400
2013-01-23TBNK3.033.082.983.060.05902,8432,3993.063.07
598,128
153,215
105,100
12,000
12,200
6,700


15,500
2013-01-22TBNK3.033.073.003.01
811,9421,3563.003.01
505,741
95,600
176,401
6,400
11,000
4,400


12,400
2013-01-21TBNK2.913.042.913.010.05647,5711,6483.013.02
405,771
160,000
55,400
12,200
8,800
1,400


4,000
2013-01-18TBNK2.953.032.932.960.012,091,7783,4232.962.97
1,448,440
293,638
248,800
12,200
15,400
62,300


11,000
2013-01-17TBNK2.872.962.862.950.095,159,5535,0102.942.96
3,889,120
575,333
570,800
11,300
45,800
25,200


42,000
2013-01-16TBNK2.812.892.812.860.052,268,4272,1482.862.87
1,778,094
200,699
139,600
2,234
8,200
100,600


39,000
2013-01-15TBNK2.892.942.7752.81-0.031,068,8792,6052.802.81
719,697
142,482
138,700
15,300
12,200
32,000


8,500
2013-01-14TBNK2.852.882.832.84-0.011,179,7541,5782.832.85
281,701
96,553
73,200
4,400
13,600
48,200
648,000
14,100
2013-01-11TBNK2.852.872.782.85-0.022,997,1202,8782.842.85
2,555,748
180,572
174,200
17,600
36,600
17,700


14,700
2013-01-10TBNK2.892.952.852.87-0.011,179,2882,7312.862.87
684,425
179,663
189,100
11,300
74,300
31,600


8,900
2013-01-09TBNK2.983.022.872.88-0.112,113,0273,1922.872.88
1,330,330
238,697
447,200
22,600
50,000
200


24,000
2013-01-08TBNK2.993.012.922.99-0.041,706,4233,0252.993.00
1,147,020
270,703
227,000
12,200
22,900
2,700


23,900
2013-01-07TBNK3.103.113.003.03-0.102,058,8355,1143.023.03
1,467,602
211,933
258,800
10,300
35,900
53,400


20,900
2013-01-04TBNK3.103.143.073.130.03974,3843,1043.123.13
438,580
158,104
148,200
41,800
167,800
12,600


7,300
2013-01-03TBNK3.143.183.093.10-0.061,108,4233,0173.093.10
637,723
180,000
113,000
22,100
97,700
47,100


10,800
2013-01-02TBNK3.213.313.153.16-0.051,498,5613,0313.153.17
913,272
176,882
183,300
177,107
26,000
1,200


20,800

Saturday, February 2, 2013

Krugar Hammers Morning Joe USA Deficet Reduced By Lower Unemplyment

In the debate over fiscal policy, you frequently hear liberals argue: "It's not time to deal with the deficit, we need to fix the economy first and then fix the deficit when the economy is stronger." While this has merit as a political concept, it's actually giving into a false frame that dealing with the deficit and dealing with unemployment are two separate things that you do at different times. Steps you take to improve unemployment are deficit reduction measures ... While the government has done, technically, nothing to address the deficit in the last few years, the deficit is shrinking (relative to GDP) merely because the economy has improved, and more people are going back to work. If unemployment drops to 7 percent, or 6.5 percent, or 6 percent, we'll get quite a bit of deficit reduction then.
www.huffingtonpost.com

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