Owner: Stockweb - Eastern Europe trading URL:www.stockweb.blogspot.com Join Date: Mon, 30 Apr 2007 11:17:54 -0500 Rating:0 Site Description: Daily update on investment strategies. Free realtime data for Czech Stock Exchange. Trading shares and derivates in US, EU and Eastern European countries (Czech Republic, Romania, Bulgaria, Poland) Site statistics:Click here
Next FED rate decision ahead. 2008-04-28 16:07:10 Monday:Economic NAEarnings BE Aerospace (BEAV), Humuna (HUM), Sohu (SOHU), Tyson (TSN), Verizon (VZ), Covance (CVD), FMC Tech (FTI), Atheros (ATHR), Manitowoc (MTW), GFI Group (GFIG), Visa (V)Tuesday:Economic Consumer Confidence (62)Earnings Archer D (ADM), AGCO (AG), Boyd (BYD), Burlington (BNI), MasterCard (MA), Nexen (NXY), Office Depot (ODP), Sepracor (SEPR), RTI Metals (RTI), US Steel (X), Under Armour (UA), Valero (VLO), Waste Mgt (WMI), Express Scripts (ESRX), Flextronics (FLEX), General Cable (BGC), Lan Air (LFL), LandAmerica (LFG), OpenText (OTEX), O’Seas Ship (OSG), Panera (PNRA)Wednesday:Economic Weekly Crude, ADP (-55K), GDP & Deflator (.4%, 3.0%), Employ Cost (.8%), FOMCEarnings Alcatel Lu (ALU), Brinks (BCO), Cummins (CMI), First Solar (FSLR), Garmin (GRMN), Gen Motors Read more:decision
, ahead
Emerging markets vs. Developed markets. 2008-04-30 13:20:33 Let's see quick comparison between emerging markets and developed economies. I used ETF as a tool. IShares MSCI EAFA (EFA) as a benchmark for international stocks from developed economies. And IShares MSCI E.M.I.F. (EEM) for emerging markets. You can see there is only slight difference in P/E valuation.P/E ratio:EFA 11,5EEM 12,8Someone can say EEM is not real ETF to measure emerging market performance. That's partially true. More than half (53%) holdings are listed on US markets as ADR. In addition to that big share is from already developed countries like South Korea, Taiwan.The important thing is to compare EPS growth. From attached chart you can see that estimated earnings growth for 2008 is by 4,6 % faster than for EFA. Moreover both ETF are traded currently with premium against NAV.
Search Engines. 2008-05-02 06:43:22 Coming back to the latest statistics released by ComScore in mid of April. It shows the biggest growth in searching for Google among heavily used engines. Month on month the change is +12%. But total winner is Craigslist with 16%. This is very good result for Craigslist. It generates now almost one third of search queries on AOL. Company Mar 08 (MM) MOM growth Google Sites 8,267 12% Yahoo! Sites 2,391 6% Microsoft Sites 1,054 7% AOL LLC 891 3% Ask Network 506 12% Ebay 474 -1% Fox Interactive 377 12% craigslist 277 16% Another interesting comparison is for social networking sites like Facebook, MySpace, YouTube. YouTube already counts one fifth of total Google's sites. MySpace is s Read more:Search
GDP growth prediction for global economies. 2008-05-05 09:32:47 This is the latest prediction for GDP growth from International Monetary Fund IMF. You can see world economic outlook for 2008 and 2009. Numbers are released on April. Middle East and Africa seems to be averse to global slowdown. At least in view of IMF.
Business Week. 30% earnings call for Q1 still open. 2008-05-05 05:34:22 MondayEconomic ISM Services (49.5)Earnings Goldcorp (GG), Marvel (MVL), Tidewater (TDW), Airgas (ARG), Anadarko (APC), McKesson (MCK), Ternium (TX), Weight Watchers (WTW)TuesdayEconomic NAEarnings Barrick (ABX), Fannie (FNM), Molson (TAP), PG&E (PCG), Blue Nile (NILE), J2 Global (JCOM), Ormat (ORA), Synchronoss (SNCR), Tenaris (TS), ValueClick (VCLK), Disney (DIS), WMS (WMS)WednesdayEconomic Weekly Crude, Pending Home (-0.6%), Productivity (1.2%), Consumer Credit ($6.3B)Earnings Cognizant (CTSH), DIRECTV (DTV), FTI Consult (FCN), Lamar (LAMR), Comtech (COGO), Crocs (CROX), Mindray (MR)ThursdayEconomic Weekly Claims (370K), Wholesale Inv’s (0.4%)Earnings Aecom (ACM), Alliant (ATK), AmBev (ABV), Celgene (CELG), Fortress (FIG), NASDAQ (NDAQ), OM Group (OMG), Tesoro (TSO), Urban O’Fitt Read more:Business
, Business Week
Microsoft abandons bid for Yahoo. 2008-05-04 03:25:35 Finally Microsoft
(MSFT) stepped back from acquisition discussion with Yahoo
(YHOO). The price $37 per share was just too much.Who is winner and who is looser?Microsoft will not have additional complications to fulfill dividends plan to its shareholders. They will be focused on their core software business. But Internet business, it is still lost game for Microsoft.Yahoo continues talks about partnership with Google (GOOG). And maybe there is potential deal with AOL (TWX) or News Corporation (NWS). Definitely Yahoo shares will be under selling pressure on Monday. Last quarter nothing exciting and company is loosing market share against its rival Google.Google is winning the game. Still there is not any other power to cut their market share.
GDP growth vs. P/E for international ETF. 2008-05-05 13:28:23 One indicator, PEG, of fundamental analysis measures P/E relative to growth (EPS growth). It is especially helpful to compare stocks, indexes. Low P/E not necessary means under valuated price. It's always needed to compare with potential growth. PEG indicator uses EPS growth as a denominator.I made following analysis for world stock markets. Assets are regional ETF underlying international stocks. It's not problem to find P/E ratio for ETF in question but it's always difficult to find EPS respectively EPS growth data. Therefore I used expected GDP growth (2008) for world economies (based on IMF prediction). Which means as a PEG denominator is GDP growth instead of EPS growth. International ETF - fundamental dat
Yahoo Finance vs Google Finance. 2008-05-07 13:37:32 I've already compared those 2 major finance portals but in reference to stocks screening. You can see my post here. Do you prefer Google
or Yahoo
? Let me point out some pros and cons.Initial pageYahoo has very well organized structure. It is more than just stock markets. You have all aspects of finance world structured in top scroll down menu. Market summary even for major European and Asian indices. Top stories are excellently highlighted. On the other side. It has advertisements. And no possibility to be personalized.Google offers nice sectors summary where the money flows. You have possibility to see your portfolio already on initial page. You don't see any ads. Now disadvantages. The biggest is top stories. It really misses the way how Yahoo can pick the most important stories and part
Structured investments - ETF vs. ETN. 2008-05-09 12:24:22 ETF and ETN are becoming more and more popular products for many investors. Sometimes it is used for investing before "real" stock trading. Both offer many advantages compare to mutual funds. Exchange traded funds or notes you can traded directly on exchange. It means you can buy or sell anytime for market price.ETF are still dominant with assets value $602 bln. ETN now accounts $6 bln but increasing rapidly during last year. We could see almost 200% growth in assets value from $2,1 bln to current $6 bln. ETF market grew by 26%.ETN market is not only Barclays' as it was still one year ago. Swedish Export Credit, Deutsche Bank, Bear Stearns, Morgan Stanley and others now take around 20% of its value.Category allocation for ETF and ETNRelated tickers: (BCS), (EEH), (DB), (BSC), (MS), (UBS), Read more:Structured
Top 10 ETF. 2008-05-09 11:32:49 ETF market is booming. Let's have a look which ETF are currently the biggest in terms of assets value. SPY is still leading and has also biggest nominal increase year on year basis. Among top 10, the highest percentage assets increase has been seen for Emerging market EEM (63%). Followed by Gold GLD 51%.That's where ETF money had flowed in last 12 months. ETF Ticker Assets ($ mil) SPDR Index 500 (SPY) 75,121 iShares MSCI-EAFE (EFA) 47,363 iShares MSCI-Emerging Mkts (EEM) 26,285 iShares S&P 500 (IVV) 18,994 PowerShares QQQ (QQQQ) 17,727 SPDR Equity Gold (GLD) 16,247 iShares Russell 1000 Gr (IWF) 13,447 iShares Russell 2000 (IWM) 10,485 Vanguard MSCI Total Market (VTI) 10,422
Difference between ETF and ETN. 2008-05-09 11:02:24 Exchange traded funds (ETF) and Exchange traded notes (ETN) are derivatives underlying investment assets (stocks, indexes, commodities etc.). Issuer are big investment banks.ETF represents in fact ownership for underlying assets. Therefore especially big institutional holders could and also do asking to redeem their ETF position for underlying stocks. This makes ETF price staying closely along underlying stocks. For example this is not the case for Closed end funds - CEF.Contrary ETN is kind of structured product issued as a debt note. And that's why credit risk is here. Of course nobody really expect Barclays' goes bankrupt. ETN are lack of tracking risk. It means that price exactly reflects underlying index. ETF can differ from NAV.
International ETF in focus. 2008-05-12 13:46:10 Recently I posted how international ETF stand in relation P/E to GDP (link to post). The most undervalued seemed to be emerging markets of BRIC (Brazil, Russia, India, China).World markets had turned to negative on October and have started bear market which lasts already 6 months. But major fall happened at the beginning of year 2008. I run my screen for ETF to see the leaders and laggards on YTD Read more:International
Business Week. CPI data. 2008-05-12 09:07:29 MondayEconomic: Treasury Budget ($157.5B)Earnings: CryptoLogic (CRYP), Holly (HOC), Hecla (HL), JA Solar (JASO), MBIA (MBI), Sprint (S), XM Satellite (XMSR), Clearwire (CLWR), Fluor (FLR), LDK Solar (LDK), Time Warner Tcom (TWTC), McDermott (MDR), Nuance (NUAN)TuesdayEconomic: Import / Export, Retail Sales (0.0%, .2%), Biz Inventories (.5%)Earnings: Camico (CCJ), Canadian Solar (CSIQ), DISH (DISH) Read more:Business
, Business Week
Banking losses in Europe. 2008-05-14 12:26:22 Credit market turmoils spread all over. I list major 4 major banking cases occurred in Europe
due to subprime meltdown.The largest Swiss bank UBS (UBS) writedowns almost 33 bln CHF in last 2 quarters. Shareholders approved capital increase by 15 bln CHF. Already second capital hike after 13 bln CHF from two foreign sovereign wealth funds. Shares price YTD down by 33%.Credit Suisse (CS) faced first
No recession for Europe. 2008-05-15 14:42:20 Today released numbers show good shape for Europe
an economies. Germany more than doubled estimations and grew 1.5% in first three months of 2008 (quarter on quarter). Non-seasonally (quarterly basis) GDP grew 1,8%.Another surprise is coming from France. Quarter on quarter growth by 0,6%. Great Britain up by 0,4%.Smaller European economies, Greece +1,1% and Austria +0,8%. But others shrank slightly
Earnings for Q1. 2008-05-18 11:59:10 Only 6% remains of S&P500 companies to post Q1 earnings. Actually earnings fell by -17,5% against estimated growth +5,7% (data provided by Thomson on 1st Jan 08). Huge "contribution" had financials sector. Compared to Q1 2007 financials posted $142 bln less and finished quarter in loss of $28 bln.Q1 started badly by General Electric (GE) which didn't provide bright outlook for other earnings. Read more:Earnings
Business Week. VIX close to October 07 lows. 2008-05-19 10:51:32 MondayEconomic: Leading Inds (0.0%)Earnings: Campbell’s (CPB), Excel Maritime (EXM), Lowe’s (LOW), Perfect World (PWRD), DryShips (DRYS)TuesdayEconomic: PPI & Core (0.0%, 0.2%)Earnings: AutoZone (AZO), China Energy (CSUN), Home Depot (HD), Target (TGT), Analog Devices (ADI), Hewlett (HPQ), Intuit (INTU)WednesdayEconomic: Weekly Crude, FOMC MinutesEarnings: BJ’s (BJ), Ross (ROST), Solarfu Read more:Business
, October
, Business Week
Steve Ballmer under eggs attack. 2008-05-20 13:49:27 This is first time I post video on my blog. Clip shows CEO of Microsoft (MSFT) being egged during his speech in Hungary. Hungarian protester accused Microsoft from stealing taxpayer money.SteveBallmer
has this Thursday schedule to visit Czech Republic on Thursday. Let's see what we can expect in Prague. Except of speech for University students he is going to meet Ivo Lukacovic, Head of Seznam . c Read more:attack
Following insider trading - SEC Form 4. 2008-05-25 11:06:38 Recently I was browsing internet to find reliable free and not delayed source for insider trading activities. There are couple of sites providing real time information for monthly paid subscription. You can see this also at official SEC site after insiders post Sec Form 4. But this is not really friendly format.I found FinViz which gives you everything for free. You can see buy sell transaction wi Read more:Following
Business Week. Sell in May? 2008-05-26 14:43:17 Tuesday:Economic Consumer Confidence (61), New Home Sales (520K)Earnings Vodafone (VOD), Donaldson (DCI), Shanda (SNDA)Wednesday:Economic Weekly Crude, Durable Orders (-.7%)Earnings American Eagle (AEO), CBRL (CBRL), Chico’s (CHS), Daktronics (DAKT), Polo (RL), Dollar Tree (DLTR), Dress Barn (DBRN), Coldwater Creek (CWTR), Men’s Wearhouse (MW), TiVo (TIVO)Thursday:Economic Weekly Claims (370K) Read more:Business
, Business Week
Finance Yahoo again faster than Finance Google. 2008-05-28 13:43:18 I've already 2 times compared 2 major finance portals. Finance Yahoo
vs Finance Google
. You can see here differences between stock screeners provided by Yahoo and Google. And also my latest analysis for functionality of both portals.Recently Yahoo released free realtime quotes which have moved portal even more ahead. It is shown on summary page for each ticker. ECN realtime data are provided by BA
ETF market boom. But still behind mutual funds. 2008-05-28 13:08:50 European ETF market is still well behind
US. By the end of 2007 assets in European ETF bln vs US $581 bln. Nevertheless European assets grew by 43% last year. In terms of issues 423 vs 601. Even thought ETF is the fastest growing retail investment product ETF market makes up only 5% of mutual funds assets in US. In Europe the number is even smaller, around 2%.Equity based ETF are the most popular.
2 Emerging markets, 2 different stories. 2008-05-28 12:58:45 With recent interest rate decisions I had closer look into 2 emerging markets in Central Europe. Hungary and Poland. Hungarian central bank again by 25bp (to 8,5%) to tighten monetary policy. Currently highest interest rates since January 2005. Bank acted mainly because of upward inflation. Its outlook has been raised from 3,6% to 4,2%.Economic picture doesn't look very well. Retail sales down by Read more:different
Google set to grow. 2008-05-30 14:31:22 Technical picture shows Google
(GOOG) shares returned back above 200 days moving average. This confirms growing trend giving nice signal to long term investors. Open long position with stop loss on level of 200 MA.Main fuel for Google share were Yahoo (YHOO) - Microsoft (MSFT) - Google (GOOG) deal news together with latest ComScore (SCOR) statistics. Numbers indicate 20% growth in paid clicks. Tot
Real time data for US stocks. 2008-06-02 14:50:33 Yahoo introduced as a first free real time data on its Finance site. And today 2 more finance portals followed the idea. Barrons offers exactly the same scope, free data for US listed stocks and indexes. Google has partnered only with NASDAQ till now.One more new update from Google. One thing I complained about Finance Google is getting to improve. They start with creation of international finance
New ETF for emerging European markets. 2008-06-02 09:20:00 At the end of April I informed you about new ETF focused on emerging stock markets in Central and Eastern Europe. iShares released MSCI Eastern Europe (IEER.L). ETF is listed on London Stock Exchange, Borsa Italiana, Euronext Amsterdam, Euronext Paris, Xetra Frankfurt and SWX Swiss exchange.After SPDR S&P Emerging Europe (GUR) and Central Europe & Russia Fund CEF (CEE) it's third fund with Read more:European
Business Week 23. 2008-06-02 03:51:06 MondayEconomic: Construction (-0.6%), ISM (48.0)Earnings: Intrepid Potash (IPI), ABM (ABM), Luluemon (LULU), NCI Bldg (NCS)TuesdayEconomic: Auto/Truck, Factory Orders (0.1%)Earnings: Layne Christensen (LAYN), Toll Bros (TOL), Bob Evans (BOBE), Guess (GES), Hovnanian (HOV), SAIC (SAI)WednesdayEconomic: Weekly Crude, ADP (-30K), Productivity (2.5%), ISM Services (51.0)Earnings: Conns (CONN), Vimpel Read more:Business
, Business Week
Fundamental analysis for CEE emerging markets. 2008-06-03 10:59:15 Yesterday I posted about new ETF iShares MSCI Eastern Europe (IEER.L). Let's have a look to key fundamental indicators of countries included in the fund. Russian index RTX, Polish WIG, Hungarian BUX and Czech PX. Country/Region DivYld P/B P/CF FY0 P/E 12M Trailing P/E FY1 P/E Russia 0.98 2.24 13.91 13.22 10.35 11.6 Pola Read more:Fundamental
Free business magazines. 2008-06-05 13:43:15 Recently I started to display free business magazines down at right sidebar. I was informed directly by RevResponse, company running this service. What is about? They offer paper and electronic magazines. For free you can get sometimes even 4 issues. And what is good, you can find there well known magazines like BusinessWeek, CFO, The Economist, Financial Week and others.Except of finance and busi
Smartphones market share. 2008-06-09 13:29:41 Rapidly growing smartphones sales show 29,3% increase on year-to-year. On total 32,2 mil phones have been sold. Europe, the Middle East, Africa (EMEA markets) posted even 38,7% growth. These markets are also main source for the leading Nokia (NOK) with 45% market share. The biggest sales jump is for Research in Motion (RIMM) selling communicators Blackberry with more than 100% increase. Despite of Read more:Smartphones
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