I just checked the SEC filing and that's not correct.
Dodge cox did not buy 143 million shares. That's what they had before. If you look closely they have 93 million ADR shares and 143 million ordinary shares. This was reported and its on the nasdaq site. For some reason they report the ADR shares and not the ordinary shares. I don't know why, I think it's the ordinary shares that matter here, with the actual Nokia stock. So then dodge cox may have 143 million shares not 93 but they isn't add 143 million - they added less than that.
Boy this is confusing.
As for Capital Research, their 13D filing does show 82 million shares. But now I'm confused, these are ordinary shares not ADR shares so what does this mean as far as reporting and how much did they really add.
I've never seen such confusing filings in my life. Normally you buy a stock and you report it. Here' there's 2 types of shares and they seem to be reporting the wrong one. These guys are pros and their pro lawyers do the filing so how can they mess this up.
Sentiment: Strong Buy
COP has 2X our production and has a 2013 CAPEX budget of less than $16 billion. There is no reason we should have a CAPEX budget greater than theirs on a percentage basis. So let's cut our CAPEX $2 billion down to $8 bil and pay us $2 biullion!
Unions run amok
I visited this facility many times. French workers receive higher wages but work only three hours. They have an hour for breaks and lunch, talk for three hours and three hours work. I said in front of the French syndicalists. They told me it was like that in France (...). Sir, Your letter refers to the fact that you want Titan start a discussion. You think we're so stupid that? Titan has the money and the know-how to produce tires. The union's crazy? It has the French government. Titan will buy a tire manufacturer from China or India, pay less than a dollar an hour wage and export all tires including France needs. You can keep the so-called workers. Titan is not interested in Amiens North factory. '
It's going to remain overbought for another few months as it is steadily pushed higher. 1600 coming by end of March. You should be buying all you can, not shorting.
Check daily chart. Long term trend is down, short term trend is down. Getting oversold though. Any good news would cause a short term pop. Epic news is needed to turn stock around.
Same $h*t, different day.
REITs that focus on home loans have gone from zero to $400 billion in just a few years. Now they could be headed for trouble.
FORTUNE -- The Federal Reserve has a lot to worry about. The economy. Persistent joblessness. Inflation. What to do with the $2 trillion in bonds it has lying around these days.
So when a Fed governor, Jeremy Stein, takes time away from all those big picture things as he did in a recent speech to highlight an obscure sub-corner of a sub-corner of the financial markets, in this case mortgage REITs, it should make you stop and think. And when he throws in charts like this one it might even cause you to say you're terrified:
Indeed, as the chart shows, mortgage real estate investment trusts (REITs) have grown a lot, particularly since the credit crisis. And they are odd and seemingly complicated financial things.
Mortgage REITs don't actually do any home lending, at least not directly to borrowers, and they don't service any loans. In Wall Street terms, they are the very definition of a carry trade. They borrow money at low short-term rates and use that money to buy up longer-term assets paying higher interest, in this case mortgages, collecting the difference between those as profits.
And that, perhaps surprisingly in the wake of the housing bust and financial crisis, has worked out very well. The pull-back of Fannie Mae and Freddie Mac after the financial crisis, at least initially, created a void of buyers for mortgage bonds. What's more, the Fed has made borrowing very cheap. On top of that, at a time of low interest rates, mortgage REITs have attracted a lot of investors because they pay high dividends, pushing up their stock prices, which as a result has made it even easier for them to go on their mortgage bond buying binge.
MORE: Why some homeowners are turning down free money
And that's where we are now. The good news is despite the scary chart, mortgage REITs are still a very small portion of the mortgage bond market, just 10% of the $5.6 trillion market for government-insured mortgages. And the Fed is buying $40 billion in mortgage bonds a month. So it wouldn't take the Fed that long to suck up all the extra volume if somehow mortgage REITs ran into problems.
The bad news is that mortgage REITs do appear to be running into trouble. In a recent report on the sector, Nomura research analyst Bill Caracache included a chart on what he calls economic return. For nearly all the mortgage REITs it was either zero or negative. Annaly Capital Management (NLY), the largest of the mortgage REITs, had a negative economic return of 8.6%.
The problem: for the last year or so, the spread between short-term rates and mortgage rates has been shrinking, as mortgage rates have come down. The interest rate spread - the difference between what it has to pay to borrow and what the company makes in income from mortgages - at Annaly Capital, has shrunk to just 0.95 of a percentage point.
But Annaly still has to make its hefty dividends. The REIT has a yield of 12.65%. So Annaly needs to boost its returns. And there are a number of ways to do that, one of them being taking on more leverage, which is what Annaly has done. In the past year, its leverage ratio has grown to 6.5 from 5.4. That means it's holding less capital.
MORE: We still have renters to thank for healthier housing market
Financial firms need capital to absorb losses. And Annaly could soon have to swallow some significant losses. The company has $125 billion in plain-vanilla mortgage bonds that would lose value if interest rates were to rise, which they have started to do recently, and many expect will continue this year.
Annaly's management has contended that it has plenty of capital. They point out that their current capital ration of about 11% is higher than most banks, and more than three times as high as metric was at many of the nation's largest banks, some of which were levered 30-to-1, going into the financial crisis.
But that doesn't mean Annaly is totally safe. About two-thirds of its mortgage bonds don't have to be repaid in full until 2042. The longer the time period until a bond is paid back, the more it will lose when interest rates rise. But most mortgage loans don't last 30 years. The average life of a mortgage is more like 5-to-7 years. Still, if rates rise 2%, Annaly could lose $13 billion of its $17 billion in capital, nearly wiping out the firm's capital.
Annaly has hedges in place that could limit its losses to a few billion dollars if interest rates were to rise. But there is a long history in financial markets of well-planned hedges failing.
And while Annaly is still small compared to the rest of the mortgage market, the fear is that it and other mortgage REITs would have to retreat at the same time the Fed is winding down its mortgage bond buying program, which some have said could happen as soon as later this year. That could cause a problem for banks and others that hold a lot of mortgage loans and bonds. But with government-backed mortgage bonds paying around 2.5%, is that really a risk you would take?
Now instead of tap dancing for the employees and stockholders, AP is trying out his soft shoe on the people loaning him money so he can keep betting on horses. That "win" is always a missed commitment date away and this guy has the audacity to ask for a bonus for this fiasco???
I think you are pretty much right on, if it weren't for the whole currency exchange deal. You'd probably have to adjust for this on a daily basis. But, bottom line, yes if they were to sell off this holding, which their other partner longingly covets, you are talking a pre-tax boost that equates to about 20B. Any way you slice it that's a lot of chocolate bars. Depending upon how it all shakes out, whether it is purchased from them, or they merge the 2 companies, it should drive the price of this stock upward by a hefty amount. I'm a long with a fairly significant position with that said. I can be patient to see how things unwind given the very healthy dividend.
The 3Dnmarket popped when an article talked of the printers which had been $5,000 and up getting much cheaper. They spoke of the cheaper(below $500) printers allowing the average user to have a 3D print just like regular printers. In reality the only companies with the "cheap" printers are DDD and Makerbot(A private Copany).
Do you know how long these plants have been scheduled for shutdown? Way before Obama! Oil companies own NG and they know power companies are not going to build new coal fired plants while NG is so cheap. They'll sucker in the utilities....then BOOM.....they'll make a killing on NG!