Thursday’s Market Recap (04/30/09)
April 30, 2009
The markets started off strong this morning, but by the end of the day early gains faded as the Dow was slipped 0.22%. The NASDAQ held on to its gains, up 0.31%, while the S&P was down 0.10% closing at 872.81. Futures for both gold and oil were down today settling at $891.20 and $51.12 respectively. The price of the 10-year fell as treasury yields rose to 3.115%. Read more
FDA, Clinical Trial Updates: Pro-Pharma (OTC:PRWP) Looks Promising
April 30, 2009
Below is a summary of updates to the BioMedReports.com database of over 200 entries included in the FDA and Clinical Trial Calendars.
The FDA Calendar includes companies with pending new drug, biological agent, or medical device new product decisions at the FDA sorted by their PDUFA decision deadline dates while the Clinical Trial Calendar encompasses pending clinical trial results (with a focus on late-stage, Phase 3 trials), pending new submissions to the FDA (e.g. NDA, BLA, 510k, PMA, sNDA, sBLA filings), and pending re-submissions to the FDA for complete response rulings by the agency which require more information before an approval can be granted. Read more
Wednesday’s Market Recap (04/29/09)
April 29, 2009
The markets rose significantly today, on news that the Fed feels that the worst of the recession is over and enacted no new monetary policies, allowing the Dow to go up 2.11% closing at 8185.73. The NASDAQ and the S&P were both up 2.28% and 2.16%. The price on the 10-year fell again with yields closing higher, at 3.107%. Crude was up settling at $50.97, while June gold contracts were also up, settling at $900.50. Read more
Japan Can Grow its Economy
April 29, 2009
Back when I was a young whipper snapper at Penn State, I always heard how, “this year is Japan’s year.” Every year I went to school, it seemed like it was “Japan’s Year,” and though gains were made between 2003 and 2006, the Nikkei remains well below its high of 38,900 back in the early 90s. The lost decade is turning into the lost generation, and at this rate we could be looking at the lost century. But is 2009 finally Japan’s year? Dare I be bullish about the Japanese stock market? Well, it depends. Read more
Tuesday’s Market Recap (04/28/09)
April 28, 2009
The markets ended down today, as the S&P 500 closed at 855.16. The NASDAQ was down -0.33% closing at 1673.81, while the Dow Jones was down -0.10% finishing at 8016.95. The price on the 10-year treasury fell with yields rising, closing at 3.011%. Gold and oil both declined today, settling at $893.60 and $49.92 respectively. Read more
J.P. Morgan’s Ahead of the Curve
April 28, 2009
J.P. Morgan Chase [JPM: 43.07, -0.08 (-0.19%)] was a beacon of light that the government had been waiting for this quarter. It reaffirmed its strength as a financial institution by crushing analysts projections of 32 cents a share, posting earnings of 40 cents a share. This news highlighted a week where the banking system may have finally pulled out of its dismal performances. Goldman Sach’s [GS: 173.53, -1.43 (-0.82%)], Bank of America [BAC: 16.85, 0.00 (0.00%)] and Citigroup [C: 3.89, -0.08 (-2.02%)] have also produced solid earnings. However, numerous questions have arisen to the strength of these companies’ earnings. J.P Morgan, however, is not stopping at just its latest filing, and has declared that it will repay its TARP money and avoid future government subsidies. Read more
Monday’s Market Recap (04/27/09)
April 27, 2009
The markets started the week off on a down note, with the Dow Jones down 0.64%. The NASDAQ and S&P also were down closing at 1679.41 and 857.71 respectively. The price on the 10-year treasury was down as the yield closed at 2.914%. Gold contracts were down settling at $908.20, with crude oil also falling, settling at $50.14. Read more
What Will Happen to Securities Lending?
April 27, 2009
Recent financial events have hindered the profitability of prime brokerages and now banks must find a replacement for the once lucrative business of securities lending. Securities lending has been a very profitable activity for prime brokerages that involves swapping ownership rights (excluding voting rights) at a specified rate depending on the security’s ability to borrow. During this time hedge funds generally short the stock. The hedge fund repurchases the shares at a lower price (hopefully) and returns them to the investment bank. Last year was the worse on record for hedge funds as they lost approximately 20% on average. Goldman Sachs [GS: 173.53, -1.43 (-0.82%)], Citigroup [C: 3.89, -0.08 (-2.02%)], and JP Morgan Chase [JPM: 43.07, -0.08 (-0.19%)] won’t be able to rip their clients in the fixed income markets forever. They will need to find a way to replace the business lost on this part of the trading floor. Read more
Kelyniam: Bio-Engineering Medical Innovation
April 25, 2009
Kelyniam Global, Inc. [[OTC:KLYG]] is an advanced design, engineering, manufacturing and rapid prototyping company specializing in the use of CADCAM (Computer Aided Design Computer Aided Manufacturing) technology. KLYG will be manufacturing artificial bone implants for cranial, orthopedic, dental and cosmetic medical applications from FDA approved polymers (which is summarized in a nine minute new medical video on YouTube at this link). Read more
Friday’s Market Recap (04/24/09)
April 24, 2009
The major indices were up today as investors gained confidence from strong earnings announcements, as the Dow closed at 8076.29. The NASDAQ and the S&P were also up significantly, 2.55% and 1.68% respectively. Prices on the 10-year fell as the yield rose to 2.998%. Futures contracts on gold were up settling at $914.10, while crude was also up settling at $51.55. Read more
