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"Nine Words" Caused Fed To Tamp Down Rate Expectations PDF Print E-mail

ImageThe Federal Reserve decided to keep interest rates unchanged as expected. The Fed also projected two quarter point rate hikes -- fewer than what had previously been envisioned. Fed Chairwoman Janet Yellen has cited the Fed's data dependency -- usually concerning inflation and unemployment figures. On Wednesday she introduced nine words that could prompt the Fed to keep rates steady for some time: "Global economic and financial developments continue to pose risks." I assumed Yellen would reference the global economy some time during the meeting. However, making it another key data point in deciding whether to hike rates sounds to me like a sea change. Read more:

Valeant Hit My $35 Price Target; Now What? PDF Print E-mail
ImageTuesday the Valeant (NYSE:VRX) released preliminary unaudited Q4 financial results and it did not go well. I perused the results, saw that the 2016 revenue forecast was shy of previous estimates and assumed the stock would rise 10% as usual. By mid-morning my brokerage account had gone haywire; VRX had free fallen 45% and my long-dated puts were deep in the money.
Cameron International Is In For A World Of Hurt PDF Print E-mail
I have been following Cameron International (NYSE:CAM) ever since Q4 2014 when the divergence in oil prices looked like it was here to stay. However, I got greedy and forgot to take profits on my short play. I am still chafing from losses I incurred after Schlumberger's (NYSE:SLB) ill-fated takeover announcement in August. Cameron has since flown under the radar as longs await the deal closing. That said, oil prices are expected to be "lower for longer" and so is Cameron's business outlook. Read more:
Video: Northern Iowa Stings Texas With Half Court Buzzer Beater PDF Print E-mail
The NCAA tournament is noted for upsets and unbelievable finishes. This year will be no different. North Iowa and Texas were in a barn burner -- tied at 72 with less than three seconds left. Paul Jesperson then sent the Longhorns packing with an impossible heave from half court.
Video: Trump Rally Protester Punched In The Face, Arrested PDF Print E-mail
During a Trump rally in Fayettevile, NC anti-Trump protesters were escorted out by authorities. One was sucker punched by a Trump supporter and what was the victim's reward? He was arrested by the cops. The guy who punched probably wanted to "steal" a black man his entire life. After all, what's the point of being an American if you can't punch a black man and get away with it?
Can't Take Stephen F. Austin's Thomas Walkup Anywhere PDF Print E-mail
ImageYou can't take Thomas Walkup and Stephen F. Austin's basketball team anywhere. The 14th seeded Lumberjacks slapped 3rd seeded West Virginia 70-56. The star of the game was Walkup, the senior small forward hung 33 on the Mountaineers. He was dishing and swishing, swerving and derving and garnered a standing ovation from the Barclays center crowd. The Lumberjacks have the longest active winning streak in the country, and if they can continue to get great guard play and control the boards they'll be a tough out. They came up from Nacogoches, TX -- a town of 33,000 folks -- and showed their behind in a city of 8 million. You can't take these fools anywhere. 
While Obama, "Hamilton" Star Freestyled, Weatherford And JP Morgan Betrayed The Public Trust PDF Print E-mail

Earlier this week President Obama's freestyle session with Hamilton star Lin-Manuel Miranda was dope, groundbreaking ... I mean, how often does a rapper get to freestyle at the White House son? Famed rapper Chuck D -- not known for hyperbole -- had this to say :

MrChuckD: This is doPE @Lin_Manuel and @POTUS best ever done it. 

While the President was free styling Weatherford International, Morgan Stanley and JP Morgan were betraying the public trust. That wasn't cool, dope or groundbreaking. However, they may be among the "best who ever done it."

National Oilwell Varco: Head For The Hills PDF Print E-mail
ImageThe free fall in oil prices and oil & gas E&P has taken a toll on oilfield services firms. I previously assumed that the lesser-capitalized firms would get hit the hardest. However, larger firms like National Oilwell Varco (NYSE:NOV) have been ravaged and the carnage may not abate any time soon. NOV is down 30% Y/Y versus a flat return for the S&P 500 (NYSEARCA:SPY); the stock is 20% above its 52-week low of $25 but will likely retest those lows by the first half of 2016. Read more:
Video: Don't Ever Come For Baylor's Taurean Prince PDF Print E-mail

Seeing this interview with Baylor's Taurean Prince reminded me of my last college game. We had gotten bounced in the NCAA tournament and I really was not in a talking mood. Some journalist came for Taurean Prince, "You said you got out-rebounded. I was surprised ya did ... 36-32. How does Yale out-rebound Baylor?" If wasn't just a silly question but the reporter's tone that was totally out of line. It didn't fall his way though.

Weatherford, JP Morgan "Incestuous Relationship" Outlawed Under Glass-Steagall PDF Print E-mail

ImageEarlier this month JP MorganChase (NYSE:JPM) and Morgan Stanley (NYSE:MS) led a surprise equity offering for Weatherford International (NYSE:WFT). Given Weatherford's highly-indebted status I assumed the equity markets were closed to it. With debt/EBITDA at 8x and about $1 billion in principal payments due within 15 months, Weatherford did not seem like a good candidate for an equity raise.

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