Comcast locks 200000 accounts amid online sale probe
Comcast force reset 200000 active accounts after owners’ data appeared for sale by black market brokers. Lockdown required identity verification and password resets. origin not a network breach but compiled from stolen information. Also notes holiday online sales forecast and big timberland acquisition by Weyerhaeuser.
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Comcast
Pimco seeks dismissal of Bill Gross lawsuit in California
Pimco asks a California judge to toss Bill Gross’s lawsuit accusing former colleagues of ousting him to gain a larger share of the annual bonus pool. Gross co founded Pimco in the 1970s and helped build the firm into a $2 trillion asset manager before leaving amid controversy last year.
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PIMCO
Bill Gross
California
Gross
Market breadth narrows as few stocks drive S&P gains
Analysts warn Wall Street that a shrinking set of top names are powering the market with 10 largest S&P 500 stocks contributing over 100 percent of this year's roughly 2 percent gain while many of the 500 stocks lag. The concern echoes past bubbles when leadership collapsed.
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Wall Street
Standard & Poor
IBM
Polaroid
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Strategas Research Partners
Pal Hungry Wall St Growls About Breadth of Rally
Market watchers note widening gains driven by a shrinking set of leaders as breadth narrows. Analysts warn the rally relies on a few stocks while overall participation remains uneven, signaling possible volatility ahead.
Square's rocky route to IPO begins with roadshow
Square kicks off a roadshow to institutional investors as Jack Dorsey-led Square seeks an IPO valuing the payments company around 4.2 billion if shares hit the 11 to 13 dollar range. The roadshow comes amid a tight tech IPO market and questions over growth, profitability, and valuation. Magic Johnson praises Square while Starbucks deal highlights costs. Early success and competition loom as public market skeptics weigh Square’s business model and future prospects.
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Jackdaw Research
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Big tech leads gains as markets show split leadership
Strategas and S P Capital IQ data highlight Amazon, Microsoft, Alphabet and Apple driving upside while large caps dominate the gains. Gary Kaltbaum calls current market a split tape with leadership concentrated in banks and defense plus areas like Internet retail and oil refiners, signaling weakness in utilities housing and many other sectors.
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Strategas Research Partners
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Kaltbaum Capital Management
Kaltbaum
Banks face new rules to cover bailouts worldwide
The Financial Stability Board calls 30 banks too big to fail and requires about 1.2 trillion dollars extra capital by 2022. The move, applicable in 24 countries including the US China and the UK, sparked stock declines as investors fear asset sales and reduced risk.
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Financial Stability Board
FSB
Lehman Brothers
Jpmorgan
Citigroup
Bank of America
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United States
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