Every morning the Street of Walls team puts out an update on market levels, today’s top stories, and active M&A deals.
Today’s Top Stories:
- European Bond Yields Plummet: Spanish 10yr bond yields are all the way back to 5.20%, after peaking around 6.70%. Yields on Italian, Spanish, Belgium and French debt have fallen aggressively yet again, with Italian 10-yr yields bacl to 6.15% and equivalent Spanish debt down to 5.20%
- Barclays on Homebuilders: “Barclays analysts are calling for a housing rebound next year and is UPGRADING DHI to 1-OW. In the absence of a government homebuyer incentive, prices for non-distressed home sales have stabilized for almost a year. He believes most important trend in the housing industry right now. data shows that a distressed home is increasingly being seen as a poor substitute for a non-distressed home and expect bifurcation to widen overtime. raising 2012 EPS ests for DHI, LEN, MTH, PHM, and TOL and lowering estimates for KBH” (Barclays Research)
- People Are Leaving Yahoo: WSJ says that talent is exiting YHOO as morale in the company declines
- GM’s Volt: WSJ says that GM is not finding desired success w/ Volt, probably due to its $41k price tag http://on.wsj.com/rNAlzJ
- Barclays S&P Target: “We initiate our 2012 S&P 500 price target at 1330 and update our EPS estimates for 2011 to $97 and for 2012 to $103. We still expect 6% earnings growth in 2012” (Barclays Research)
- 2011/12 Finance Comp Report: The Options Group is out with their 2011/2012 Global Financial Market Overview and Compensation Reporthttp://bit.ly/sYf6c5
- Infographic on Facebook Helping with Jobs: Can you use Facebook to actually get a job? 16% of employers found their current job from a social networking site, up from 11% last year http://bit.ly/t6BFQu
- HF’s Pouring out of Financials: Hedge fund continued to poor out of Financials during the quarter, funds on average allocated -3.6% less to financials in 3Q http://bit.ly/vNidtf
- Stocks up on EU Optimism: U.S. stock futures pointed to a higher opening for Wall Street on Monday, driven by optimism over Europe’s debt crisis after Italy announced additional fiscal measures and as investors awaited U.S. economic data http://on.wsj.com/tbV9N6
- CMC rejects Icahn’s unsolicited $15/sh bid for company
- SAP to buy SFSF for $3.4 billion
Disclosure: I do not have a position in any stocks mentioned in this article, do not have a plan to initiate a position within the next 72 hours.
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