Dow inched up 16, advancers over decliners 2-1 & NAZ went up 17. The MLP index was up pennies in the 447s & the REIT index slipped pocket change in the 267s. Junk bond funds were mixed to lower & Treasuries saw selling. Oil rose as
Tropical Storm Karen retained strength on a path towards the US coast, threatening crude production
in the region. Gold slipped, taking it closer to 1300.
AMJ (Alerian MLP Index tracking fund)
Photo: Yahoo
At stretches of northern Arizona & southern Utah in the fall, and you're likely to hear a mix of languages as tourists from around the world step into the western landscape, marked by breathtaking canyons & massive rock formations. Millions of visitors tour the region each year for what can be once-in-a-lifetime vacations. Those visitors didn't stop with the gov shutdown, which forced officials to close down roads, campgrounds & tourist centers at national parks dotting the landscape. Arizona Gov. Jan Brewer has offered to use state money to keep the Grand Canyon open, & several businesses made similar pledges — all of which have been politely rejected by the national park. The impact isn't just ruining vacations. It also has brought local economies to a near standstill. The shutdown is hurting the economy which will become more severe going forward.
Shutdown ruins vacations, hurts local economies Associated Press
Photo: Bloomberg
Samsung's strategy of selling smartphones at every price point spurred record earnings. Q3 operating profit rose to about $9.4B, beating estimates, on sales of cheaper handsets in emerging markets. Samsung has expanded its range of mid-priced smartphones such as the Galaxy Golden & S4 Mini to capture sales in China & India. It also has benefited from rising prices for the memory chips it makes for customers. Results are preliminary with no division details released, audited earnings are due later in Oct. Samsung sells at least 40 smartphone models, according to its US website, helping it weather stalling demand for high-end devices.
Samsung’s Smartphone Models Drive Record Profit as HTC Reports First Loss
Photo: Bloomberg
Twitter’s IPO documents suggest a valuation of $12.8B for the microblogging service, underscoring the 7-year rise of a still unprofitable company that has helped revolutionize how people share information. In the most anticipated technology offering since Facebook's (FB) IPO last year. Twitter made public its prospectus & said it’s seeking to raise $1B. That pegged the fair value of a share at about $20.60. There are 620M shares outstanding. Its booming online-advertising business generated revenue of $254M in H1 of this year. At $12.8B, Twitter would be valued at 28.6X revenue over the past 12 months. FB debuted with price-to-sales ratio of about 26X, while LinkedIn (LNKD) sold shares for 14.5X revenue.
Twitter Files for IPO With Implied Value of $12.8 Billion as Sales Surging
There is nothing new from DC on the shutdown. The monthly jobs report was delayed because of the shutdown. Chances are it will not have significant new data, but that's one less input for the Federal Reserve to evaluate. The stock market is drifting. The bulls are happy it is taking the shutdown news as well as it has. Assuming it drones on, more sellers will throw in the towel.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.03% | |
U.S. 2-year |
0.33% | |
U.S. 10-year |
2.64% |
| CLX13.NYM | ...Crude Oil Nov 13 | ...103.93 |  ...0.62 | (0.6%) |
| GCV13.CMX | ...Gold Oct 13 | ........1,309.70 | ...7.70 | (0.6%) |
At stretches of northern Arizona & southern Utah in the fall, and you're likely to hear a mix of languages as tourists from around the world step into the western landscape, marked by breathtaking canyons & massive rock formations. Millions of visitors tour the region each year for what can be once-in-a-lifetime vacations. Those visitors didn't stop with the gov shutdown, which forced officials to close down roads, campgrounds & tourist centers at national parks dotting the landscape. Arizona Gov. Jan Brewer has offered to use state money to keep the Grand Canyon open, & several businesses made similar pledges — all of which have been politely rejected by the national park. The impact isn't just ruining vacations. It also has brought local economies to a near standstill. The shutdown is hurting the economy which will become more severe going forward.
Shutdown ruins vacations, hurts local economies Associated Press
Photo: Bloomberg
Samsung's strategy of selling smartphones at every price point spurred record earnings. Q3 operating profit rose to about $9.4B, beating estimates, on sales of cheaper handsets in emerging markets. Samsung has expanded its range of mid-priced smartphones such as the Galaxy Golden & S4 Mini to capture sales in China & India. It also has benefited from rising prices for the memory chips it makes for customers. Results are preliminary with no division details released, audited earnings are due later in Oct. Samsung sells at least 40 smartphone models, according to its US website, helping it weather stalling demand for high-end devices.
Samsung’s Smartphone Models Drive Record Profit as HTC Reports First Loss
Photo: Bloomberg
Twitter’s IPO documents suggest a valuation of $12.8B for the microblogging service, underscoring the 7-year rise of a still unprofitable company that has helped revolutionize how people share information. In the most anticipated technology offering since Facebook's (FB) IPO last year. Twitter made public its prospectus & said it’s seeking to raise $1B. That pegged the fair value of a share at about $20.60. There are 620M shares outstanding. Its booming online-advertising business generated revenue of $254M in H1 of this year. At $12.8B, Twitter would be valued at 28.6X revenue over the past 12 months. FB debuted with price-to-sales ratio of about 26X, while LinkedIn (LNKD) sold shares for 14.5X revenue.
Twitter Files for IPO With Implied Value of $12.8 Billion as Sales Surging
There is nothing new from DC on the shutdown. The monthly jobs report was delayed because of the shutdown. Chances are it will not have significant new data, but that's one less input for the Federal Reserve to evaluate. The stock market is drifting. The bulls are happy it is taking the shutdown news as well as it has. Assuming it drones on, more sellers will throw in the towel.
Dow Jones Industrials
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