(via news-journalonline.com)
Wal-Mart Stores Inc. has taken another step toward building its second Supercenter in Palm Coast.

The Arkansas-based retail giant recently closed on the purchase of 31 acres along Old Kings Road for about $5.9 million from Old Kings Interchange Inc., according to county records.

The site is on the east side of the road, just north of the growing State Road 100 and Interstate 95 interchange. It's about seven miles south of an existing Supercenter at 174 Cypress Point Parkway.

This week, Ambac Financial Group announced to have converted another $11.8 million in debt to 8.6 million shares of Ambac’s common stock. The common stock will be issued to holders of 9⅜% debentures due in August 2011.

Earlier on June 17, Ambac entered into an agreement with 9⅜% debenture holders to exchange $8.5 million in debt for 5.0 million Ambac’s common shares.

Subsequent to the conversion of debt to shares, outstanding common shares of the company totaled 302.0 million. At the end of first quarter of 2010, the company had 288.2 million outstanding common shares.

Ambac’s rigorous effort to lower its debt level is further established by this new conversion. Combining the earlier exchange announcement, the company converted $20.3 million worth of 9⅜% debentures, due August 2011, to 13.6 million shares of the company.

Previously, the company had commuted $16.4 billion of exposure to collateralized debt obligations of asset-backed securities and $1.4 billion non-collateralized debt obligations of asset-backed securities. In addition, it announced that it would commute certain other non-collateralized debt obligations of asset-backed securities with an exposure of $1.5 billion.（via zacks.com）

By: Zacks Equity Research
source:zacks.com
Trucking company, YRC Worldwide Inc. announced to sell a portion of its logistics business to private equity firm Austin Ventures for $37 million, to boost its cash position.

The newly formed company will focus on international freight forwarding, customs brokerage and transportation management in North America, Latin America, Europe and Asia. However, YRC plans to retain its China based logistics operations.

The acquisition is scheduled to be finalized within the next one and a half month.

Till date, YRC is facing major challenges including sustaining liquidity, dilution of preferred stock, loss of customers and a weak LTL (less than truckload) market. The company is trying to deter total financial collapse in every possible way.

YRC also completed its debt-for-equity exchange at the end of December 2009, which will likely be beneficial for the company.

source:dallasnews.com
Was Joe Barton's apology last week to BP CEO Tony Hayward premeditated?

It may seem like splitting hairs, but Democrats, looking to capitalize politically on the much-maligned remarks, are charging that Barton's apology was not just a slip of the tongue.

"That's not a political gaffe. Those are prepared remarks. That is a philosophy," said White House chief of staff Rahm Emanuel on ABC's Sunday morning talk show "This Week."

By Chris Cillizza
source:washingtonpost.com
President Obama spoke from the Oval Office on Tuesday night hoping for a game-changer in public opinion on his handling of the Gulf Coast oil spill.

But unlike in past high-profile addresses -- say, his 2004 speech at the Democratic National Convention, his remarks at the Iowa Jefferson-Jackson Dinner in 2007 and his speech distancing himself from the controversial Rev. Jeremiah Wright in 2008 -- Obama failed to meet the high rhetorical expectations he had set for himself and was roundly panned by the punditocracy.

Combine that lead balloon of a speech with the oil still leaking into the gulf, coastal-state officials taking to cable shows to condemn the federal response and BP executives continuing to stuff their collective feet into their mouths -- "small people," really? -- and it seemed an easy choice to name our commander in chief as having had the Worst Week in Washington.

source:wsj.com
NEW YORK (Dow Jones)--BP PLC's (BP) shares rose in the U.S. Friday despite another hit to its credit rating, as investors saw the actions of the past week as removing some uncertainty and perhaps marking a bottom for the stock.

BP's American depositary shares were up 0.3% at $31.81 in recent trading. Meanwhile, the cost to insure its debt fell slightly from Thursday. Option activity in BP was quieter Friday than in recent days, with the volume in bearish and bullish positions nearly even. With Friday marking the expiration of June options, much of the trading likely reflects investors "rolling"

source:marketwatch.com
MicroStockProfit.com announces an investment report featuring Citigroup Inc.. The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.

In the report, the analyst notes:

"Revenues grew $7.5 billion and net income increased $5.8 billion, excluding the $10.1 billion pre-tax loss from the TARP repayment and exit of the loss-sharing agreement with the U.S. government in the fourth quarter of 2009. Provisions for credit losses and for benefits and claims declined $2.4 billion sequentially to $8.6 billion, the lowest level since the first quarter of 2008. Expenses were down 6% sequentially to $11.5 billion.

"Citigroup Global Transaction Services and Euroclear Bank recently announced an agreement with Bloomberg's Asset and Investment Manager (AIM) system and Euroclear Bank's cross-border fund processing platform -- FundSettle -- to fully automate front-to-back-end fund-transaction processing for institutional clients."

By ROBERT BARR (AP)
source:google.com
LONDON — Shares in BP rose in London Thursday, as the company's agreement to set up a $20 billion fund and cancel dividend payments to cover damage from the Gulf of Mexico oil spill reduced uncertainty over its liabilities.

The shares were up 9.4 percent at 368.7 pence ($5.42) after the first hour of trading on the London Stock Exchange.

They had also rallied in U.S. trading Wednesday, gaining 45 cents to close at $31.85, after BP executives' meeting with President Barack Obama produced an agreement that analysts said provided much-needed clarity for investors.

"BP's package agreed with President Obama should cool the political heat and provide some degree of comfort to equity and bond markets, shareholders and businesses/residents in (the Gulf of Mexico) affected by the Deepwater Horizon accident," analysts at Evolution Securities said in a research note Thursday.

source:mysmartrend.com
SmarTrend has detected shares of Harte-Hanks (NYSE:HHS) have bearishly opened below the pivot of $12.35 today and have reached the first level of support of $12.23.

Should the shares continue to fall, we are monitoring the next support pivots of $12.13 and $11.91. Also, the shares are currently trading below the 50-day moving average of $13.53 and below the 200-day moving average of $12.27.

source:mysmartrend.com
6/16/2010- FedEx Corp. (NYSE:FDX) reported fiscal Q4 net income of $419 million, or $1.33 per share, up from a loss of $876 million, or a loss of $2.82 per share, in the year-ago period.

Revenues rose 20% year-over-year to $9.43 billion, up from $7.85 billion the previous year.

For the full-year, the company reported net income of $1.18 billion, or $3.76 per share, up from $98 million in the year-ago period.

On average, analysts expected EPS of $1.32 on revenues of $9.04 billion.

Full-year revenues fell 2% year-over-year to $34.7 billion, down from $35.5 billion the previous year.
FedEx expects Q1 EPS of $0.85 to $1.05 and fiscal 2011 EPS of $4.40 to $5.00.

By Chip Brian
source:mysmartrend.com
SmarTrend identified a Downtrend for Delta Petroleum (NASDAQ:DPTR) on May 06, 2010 at $1.25. In approximately 1 month, Delta Petroleum has returned 4.8% as of today's recent price of $1.19.

Delta Petroleum is currently below its 50-day moving average of $1.39 and below its 200-day moving average of $1.48. Look for these moving averages to decline to confirm the company's downward momentum.

Source:schaeffersresearch.com
Call volume has ramped up on Ambac Financial Group, Inc. (ABK) this week. On Monday, call trading climbed to nearly three times the usual level, with about 27,000 contracts crossing the tape. On the International Securities Exchange (ISE) alone, traders on Monday bought to open 2,743 calls on ABK, compared to just 103 puts -- resulting in a single-day call/put volume ratio of 26.63.

ABK price chartMuch of the call-buying activity was centered on ABK's July 1 strike, where 3,022 contracts changed hands. The majority of the calls traded at the ask price, suggesting they were purchased, and implied volatility rose 2.7% by the close. This strike added 2,070 contracts to open interest overnight, confirming that new bullish bets were added here on Monday.

Meanwhile, in today's trading, call volume on ABK has already surged to three times the norm. Most of the volume is concentrated at the stock's November 2.50 call, which has seen more than 10,000 contracts trade. A slight majority have changed hands at the ask price, but with open interest here totaling more than 20,700 contracts, it's unclear whether today's activity consists primarily of liquidations or new additions.

source:presstv.ir
BP's main rivals believe safety shortfalls are behind the Gulf oil disaster, saying Gulf of Mexico oil spill could have been prevented had the London-based company followed industry-wide safety procedures.

In a testimony before the Energy and Commerce Committee of the US House of Representatives on Tuesday, global oil titans Chevron, ExxonMobil, ConocoPhillips, and Shell criticized BP's actions.

"I believe the independent investigation will show that this tragedy was preventable," said Chevron chief executive officer John Watson, AFP reported.

"The Deepwater Horizon accident tragically reinforces that all companies must operate with the same high standards of safety and reliability. It is clear that failure to do so has dire consequences," he said.

Source:dailymail.co.uk
Nearly £7billion was wiped off the value of BP yesterday amid growing fears that its crucial dividend payout to shareholders will be suspended.
The shares fell 9.3 per cent, with City analysts warning that they will fall even lower in the coming weeks.
Since the oil rig explosion in April, the market capitalisation of the company has almost halved, losing about £55billion in value.
The BP board met in London to discuss whether or not to pay a dividend, which Barack Obama has put the company under
pressure to scrap in favour of refunding victims of the oil spill. Yesterday a BP spokesman said the company would not be revealing the outcome of the crucial meeting.
But scrapping the dividend would hit, in particular, elderly investors who rely on the income.
Last year, BP handed out around £7billion, paying £1 in every £7 of dividends paid out by companies in the FTSE 100.
BP said it had so far spent around £1billion on its ‘response’ to the disaster, but it was ‘too early to quantify other potential costs and liabilities associated with the incident’.
More than 50,000 claims have been submitted to BP, which has repeatedly insisted that it promises to meet every legitimate one.
To date, it has paid out £42million to more than 26,500 claimants, which is equal to nearly £1,600 each.
Rival oil giant Chevron told the Wall Street Journal that the Gulf of Mexico explosion was a ‘preventable’ incident.
Chief executive John Watson said his company had policies and procedures in place that could have avoided the explosion that triggered the spill.

source:thestreet.com
NEW YORK (TheStreet) -- Sirius XM (SIRI) was one of several stocks trading below $5 poised to move on above-average volume Monday on indications it will be added to the Russell 3000 as part of the index's reconstitution.

Sirius XM shares were gaining ground in early trading Monday after the company's stock was included on the preliminary additions and deletions for the Russell 3000 and Russell Global index as part of their annual reconstitutions. The final membership lists will be released on June 28, following updates on June 18 and June 25.

Ambac Financial Group (ABK) announced that it might seek bankruptcy protection. Previously, in November 2009, Ambac had announced that it might file for bankruptcy protection if it fails to pull through its cash position.

Ambac Financial Group (ABK) said it could default on its loan obligations and was still considering filing a prepackaged bankruptcy. Shares sank over 10% in premarket trading.

Ambac has been neck deep in trouble for quite some time following the collapse of the U.S. housing market. The company has suffered multiple rating downgrades, adversely impacting its ability to generate new business.

Ambac Financial Group (ABK) loses a third of its market value after a news report says some debt holders of the struggling bond insurer will try to push it into a bankruptcy filing.

New Share holders with some patience and some pressure on the ask. 2-3 days this could bounce. Not likely but possible.

The abbreviate absorption on FAS jumped 125.8 percent, or 2,264,132 shares---rising from its antecedent abbreviate absorption akin of 1,800,062 shares to its accepted akin of 4,064,194 shares---during the accomplished few weeks.

FAS has absent $8.39, or 28.47 percent, during the accomplished ages and is currently trading beneath its 20-day, 50-day and 200-day affective averages.

Bond insurer Ambac Financial Group, said again that you can apply for bankruptcy protection after state regulators took control of some of its most problematic.

The company, which has struggled to write new business since losing its AAA credit rating in 2008, said in a filing to the Securities and Exchange Commission on Tuesday that "in the second quarter of 2010" can not decide to make payments interest of its debt, which could result in a default.

"The company had become economically dangerous," said Wisconsin Insurance Commissioner Sean Dilweg, said in an interview with Reuters, adding that under state law, an insurance company is dangerous when it may not be able to to pay claims in the future.

Natixis Bleichroeder downgrades BP plc (NYSE: BP) from Buy to Neutral.

President Obama's now saying about BP, "We will make sure they pay every dime." He also pledged months ago that big banks would repay "every single dime" of bailout money.

The new prime minister of the United Kingdom, David Cameron, focused his campaign in weaning Britain's economy out of the funding - and BP is one of the nation's marquee companies non-financial. If the losses for the cleaning and damage exceed the capacity of BP to pay, the British will not stand by and watch as the shareholders and creditors may - "big fish, but no British pensioners," the rule - lose . Nor will the British stand by if a U.S. company as ExxonMobil tries to sweep and buy the best assets of BP on the cheap.

BP estimates that it will spend about $84 million through June to compensate for lost wages and profits caused by the spill. The company has promised to pay all legitimate claims, and no claim has yet been rejected, Wine said.

Intel Corp. (NASDAQ: INTC) shares reached a 52-week high of roughly $24.30 in April, the stock has been drifting lower for the past four weeks and is now struggling to find a direction above the 50-day or below the 200-day.

Google will embed its Android software into TVs manufactured by Sony and is partnering with Logitech and Intel to provide Atom processor-based TV set-top boxes that can make Google TV compatible with existing TVs.

We believe that an increase of more than 5% of the estimated $ 23 Trefis Intel shares if Google TV can help Intel expand its potential market of 30 million processors by the end of the forecast period of Trefis.

Below the lowest price point of $ 17.67 balance, the losses begin to accumulate and are unlimited until the zero mark. This differs from a long call or put long, where the most you can lose is 100% of the initial investment.