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The latest news from the New York Shock Exchange



Video: Secret Service Circles Trump As Crowd Rushes Stage In Dayton, OH PDF Print E-mail
The country has become polarized since the financial crisis of '08. After $15 trillion in reparations and quantitative easing to Wall Street and none for the public, the country is angry. That anger is playing out in the current presidential campaigns. Donald Trump has tapped into the "Angry White Male" base of the country, and it just might make him President. The Donald's rally in Chicago was shut down due to fears of violence. On Saturday he was circled by secret service agents as the crowd attempted to rush the stage in Dayton, OH.
 
Trump Rally Chicago Shut Down Due To Security Concerns PDF Print E-mail
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Trump is center of attention. It could get him elected.
Presidential candidate Donald Trump is holding a rally in Chicago tonight. Chicago is one of the most diverse cities in the country so he had to have known it would have been divisive. Protesters have shown up en masse. Trump has become the front runner with a lot of straight talk against immigrants, African Americans, muslims, China ... you name it. He has captured the imagination of the "Angry White Man" and I believe his fan base will make him president. The economy is in the doldrums and politicians have no answers. While they have given $15 trillion in reparations to Wall Street, they have ignored a large segment of society. That segment will no longer be ignored.
 
Weatherford - JP Morgan's Shady Stock Offering Outlawed Under Glass-Steagall PDF Print E-mail
ImageI am on record saying that Weatherford International is insolvent. Even after its recent $630MM capital raise the Swiss Whale's company liquidation value is -$1.2 billion, and that's being kind. The fact that the rating agencies rate the debt at junk status and the bonds trade at cents on the dollar buttress my analysis.  JP MorganChase and Morgan Stanley were lead underwriters for the offering. Every analyst on the Street has turned bullish on Weatherford due to its increased liquidity and reduced debt load. The reality is that [i] the company's debt/EBITDA is at 7x -- junk status and [ii] the proceeds are expected to repay JP Morgan's $967 million revolving credit line. In effect, JP Morgan underwrote shares in an insolvent company and used the proceeds to repay itself. At a minimum the stock sale represents a conflict of interest for JP Morgan.
 
China's Exports Continue To Free Fall PDF Print E-mail
ImageChina's slowing economic growth has been a sign of worry for global investors. Its free falling February exports could add to those concerns. The country's exports fell 25% Y/Y in dollar terms -- the biggest drop since 2009. Imports fell 13.8%. The trade data follows January's disappointing results in which China's exports and imports declined Y/Y by 6.6% and 14.4%, respectively. A slowing China could hurt exports sales of the U.S. and emerging markets, and global financial markets to pull back. Disappointing China trade data could force the Fed to hold on rates despite a blow out February jobs report.
 
Katt Williams Arrested For Second Time In Two Weeks PDF Print E-mail

ImageComedian Katt Williams just can't get right. He is as funny as "all get out." He recently issued a challenge -- snap battle, MMA bout, cypher -- to Kevin Hart in Hart's home town of Philadelphia. Williams, aka "Black Conor McGregory", stays in the news, usually for something negative. Local Georgia television stations are reporting that Katt was arrested and charged with aggravated assault and false imprisonment, amongst other things. This marks the second time in two weeks Katt was arrested -- the last time for punching a grocery store clerk.

 
JP Morgan Claps Back At The Shock Exchange PDF Print E-mail
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Throwing subliminals?
The Shock Exchange has been a Weatherford bear for a nearly a year now. Rating agencies have downgraded the Swiss Whale to junk status and the stock is off 50% since SE started covering it. These data points appear to support SE's short play. Its $7.4 billion (at Q4 2015) is untenable with oil prices sub-$50. With over $1 billion in principal payments coming due by Q2 2017 the company is in dire straits. Secondly, I am on record that based on liquidation value Weatherford is insolvent.  The company recently raised over $600 million via an equity offering -- that's a good thing. JP Morgan, the lead underwriter, recently clapped back at the Shock Exchange:
 
Lakers Wash The Warriors On National TV. Must Be The Socks. PDF Print E-mail
The Golden State Warriors have punished every elite team this year. From the Thunder to the Cavs to the Spurs, no one has had an answer for Steph and company. That's what makes Sunday's thumping at the hands of the Lakers so perplexing. The Lakers played like a team possessed while the Warriors were mistake-prone in suffering their sixth loss of the season. Afterwards Kobe chalked it up to "The bigs running the floor and showing on defense ... or something to that effect." However, I believe it was the socks ... the Kobe-themed socks the Lakers wore. The Shock Exchange couldn't make this stuff up.
 
Why Would JP Morgan Raise Equity For An Insolvent Company? PDF Print E-mail
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Not a good look
I am on record saying that Weatherford International is so highly-leveraged that it needs equity to stay afloat. With debt/EBITDA at 8x and $1 billion in principal payments coming due over the next year, the oilfield services giant is in dire straits. Known in industry circle's as JP Morgan's Swiss Whale, Weatherford has been in talks with JP Morgan Chase to re-negotiate its revolving credit facility -- the only thing keeping the company afloat. However, in a move that shocked the financial markets, JP Morgan led an equity offering that raised $565 million for Weatherford. Based on liquidation value Weatherford is insolvent. The question remains, why would JP Morgan risk its reputation by selling shares in an insolvent company?
 
Video: Nate Diaz Describes His Destruction Of Conor McGregor PDF Print E-mail
Nate Diaz took Conor McGregor out the the woodshed in UFC 196. He took Conor's best shots in round one, but Conor had no answer when Diaz dropped bombs in round two. Nate banged him to the face and body and then choke him out. Below is his description of that destruction.
 
Jay Pharoah, SNL Spoof On Katt Williams, Kevin Hart Beef PDF Print E-mail
The beef between Katt Williams and Kevin Hart seemed for "play play." Katt is funny as all get out ... funny for no reason at all. However, the industry has rewarded Kevin Hart with movies, commercials, NBA All-Star appearances, etc. Hart is a bankable star and the work and money keeps rolling in. That doesn't sit well with Katt whose hood credentials are unmatched, and he let Kevin know about it. It got real after Jay Pharoah and SNL did a spoof over the weekend.
 
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