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XTO Selling $1 Billion In Stock (XTO)

XTO Energy Inc. (NYSE: XTO) intends to sell 20,000,000 shares of common stock in a secondary offering, pursuant to its shelf offering. Lehman Brothers, Goldman Sachs, and JPMorgan are joint book-runners for the offering, and the overallotment option is for 3 million shares. Proceeds of the offering are expected to fund recently announced property acquisitions and to repay indebtedness under its commercial paper program. At current prices, this would indicate a sale of some $1.13 Billion in stock, and today’s market cap is $27.3 Billion. XTO shares closed up 1% at $56.61, but shares are down roughly 2% on this…
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13 February, 2008| Economy | Comments (0) @ 21:15

Microsoft/Yahoo: Why is Microsoft Slow-Playing Its Hand, Part II

Well, today we seen one consequence of Microsoft slow-playing a strong hand: the long-rumored discussions between Yahoo and News Corp (such talks have been mentioned here, as well as at SAI and TechCrunch) have heated up and g…
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13 February, 2008| Economy | Comments (0) @ 21:03

The CBO Prefers a Carbon Tax to Cap-and-Trade

I’m a supporter of a cap-and-trade system over a carbon tax. But I have to say that Terry Dinan, of CBO’s Microeconomic Studies Division, has the best argument in favor of a carbon tax over cap-and-trade that I’ve yet seen. (Her paper is here;…
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13 February, 2008| Economy | Comments (0) @ 20:55

Will Fleming’s Grasp On High Office At Merrill Lynch Be Undone By Justice’s Criminal Investigation?Legal Experts Doubtful, But The Rumors Persist

Wall Street abounds with speculation that Greg Fleming, who has managed to hold on to his position as sole president of Merrill Lynch through a whirlwind of management changes, might finally be facing a challenge that could shake him out of his elevated position.
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13 February, 2008| Economy | Comments (0) @ 20:45

Release the Hounds!

Will Uno carry the market on his shoulders? (Source: AKC)

Regardless of how January turned out, the various indicators that involve some sort of luck and alchemy continue to line up well for U.S. equity markets. First, the S…
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13 February, 2008| Economy | Comments (0) @ 20:43

Dendreon Shares Losing House Committee Hope (DNDN)

CNBC’s Mike Huckman just announced what is going to be a disappointment for Dendreon (NASDAQ: DNDN) holders, and that may be an understatement. The House Committee will not be forcing any action or pressing the FDA over Dendreon’s PROVENGE until FDA makes a final decision, and that could be one to three years away. There had been hopes that the committee would uncover conflicts of interest that have been alleged by many hopeful patients and investors alike. That doesn’t look to be in the realm of possibilities now. As a reminder, there is still hope that the EU might actually…
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13 February, 2008| Economy | Comments (0) @ 20:34

Tech Ticker, Yahoo! Finance

Technology stock picks & industry news:…
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13 February, 2008| Economy | Comments (0) @ 20:32

Bond insurance: Do muni investors still care?

We know the monoline insurance business has been one of the great flaming disasters of the Great Subprime Collapse of 2007. Unlike some other businesses which have taken big losses, like mortgage lenders or brokerages, its not clear the world really needs bond insurers at all. We know that there will be such a business as home building in 2010, but are we so sure anyone will want bond insurance in 2010?Let’s look at the monoline insurer’s bread-and-butter (municipals) for some guidance. According to data from Thomson Financial, only about 28% of municipal bonds issued in January carried insurance from a monoline insurer. That’s down from 46% in 2007. Meanwhile, according to Merrill Lynch, new insurance was dominated by FSA and to a lesser extent, Assured Guaranty. FSA insured $3.8 billion of new issues, about 70% of all new issue munis which carried insurance. Assured picked up most of the remainder ($1.3 billion or 23% of new insured issuers)….
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13 February, 2008| Economy | Comments (0) @ 20:27

Jim Cramer’s Stop Trading

For now agriculture is stuck for the moment but long term it is a good play. The earnings report today was great for Agrium Inc. (AGU) and Jim thinks The Mosaic Company (MOS) is a better play than AGU. There was some concern with Deere & Company (DE) not coming out and saying what the market wanted. Potash Corp./Saskatchewan (POT) rolled over. Cramer called the sector great for the long term with all of the above mentioned as plays except POT. Last natural gas was talked about as a group to watch as well. Ultra Petroleum Corp. (UPL) is a stock he likes. It was stated that the global switch to natural gas is underway.
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13 February, 2008| Economy | Comments (0) @ 20:18

The Safe Way to Trade Taser

addslashes(The Safe Way to Trade Taser

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13 February, 2008| Economy | Comments (0) @ 20:17

MFA Mortgage Ready To Go Vulture Investing In Mortgages (MFA, MFR, NLY, CIM, BX)

MFResidential Investments, Inc. submitted an IPO filing on Tuesday. The total proposed maximum aggregate amount in securities is listed as $250,000,000 in securities, although this number is merely for filing purposes. The underwriting group is listed as UBS, Bear, Stearns, Deutsche Bank, and Morgan Stanley. They have applied for the trading symbol “MFR” on the New York Stock Exchange. MFResidential Investments will target residential mortgage-backed securities (MBS) and residential mortgage loans, as well as other real estate-related financial assets on a leveraged basis. MFA Mortgage Investments, Inc. (NYSE: MFA) owns MFA Manager, LLC, who will externally manage MFResidential Investments. The…
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13 February, 2008| Economy | Comments (0) @ 20:08

Aussie Unemployment Rate Hits Record Low in January

Full-time employment numbers continue to disappoint….
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13 February, 2008| Economy | Comments (0) @ 20:00

Aussie Unemployment Rate Hits a Record Low in January

But full-time employment numbers continue to disappoint….
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13 February, 2008| Economy | Comments (0) @ 20:00

Japanese Fourth Quarter Growth Much Better Than Expected

But economy likely to stumble this year….
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13 February, 2008| Economy | Comments (0) @ 20:00

Singapore Slows in Fourth Quarter

Government lowers 2008 forecast….
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13 February, 2008| Economy | Comments (0) @ 20:00

No! You Can Never Be Too Orange In Moz’s Eyes!

I just saw (not so) “big al [Greenspan]” leaving the hotel on fifth ave (next to cipriani btwn 59th/60th). Not only does the guy have a Louis Vuitton luggage, he had an orange LV duffle. Seriously, what was he thinking?…I would have taken a picture if hadn’t been so nasty outside. The orange was similar to a “blood orange”, even moz would have been appalled….
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13 February, 2008| Economy | Comments (0) @ 19:56

Credit Worries Helps Short-Dated Bonds

Times like this, investors remember that by hook or by crook, the government will pay them back for their investment. That guarantee has fixed-income investors shifting into short-dated Treasury securities today on more worries about failed auction-rate securities and other bad debts.
Initially Treasurys declined, boosting yields, on the back of a stronger-than-expected retail sales report. But renewed concerns about a lack of liquidity in the market as a result of yesterday’s m…
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13 February, 2008| Economy | Comments (0) @ 19:55

Barack Obama Datapoint of the Day

The 2008.PRES.OBAMA contract last traded at 51 - which means that, at least according to InTrade, and as of right now, Barack Obama is probably going to be the next president of the United States.
(HT: M…
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13 February, 2008| Economy | Comments (0) @ 19:07

Layoffs Watch ‘08: Morgan Stanley Ups The Ante

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13 February, 2008| Economy | Comments (0) @ 19:07

All the Gold in India

Enthusiastic investors in exchange-traded funds have helped fuel the dramatic increase in gold prices over the last few years. Of late, the price of gold has stalled at near-record levels, as the primary source of demand — jewelry — has declined due to what some see are exorbitant costs.
This is particularly the case in India, which accounts about one-third of the world’s retail demand (either through investment in coins or bars, as well as jewelry). The World Gold Council s…
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13 February, 2008| Economy | Comments (0) @ 18:59

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