The Little Guy is Getting Screwed... But Nothing is Different

Matthew Kanterman — Thu, 13 Jun 2013 15:19:13 +0000

News coverage over the past day has focused on a CNBC report that Reuters and the University of Michigan were gaming investors by selling their Consumer Confidence Survey early to premium and super premium customers. Is this really news? Is this really a crisis? Is this different to the way it has always been?

The answer to all three questions is simply, definitively, and unequivocally no.

Natural Gas Storage Data

Traders in the natural gas market have seen this trend for some time. This morning, at 10:30 am eastern, the weekly storage data was released. The EIA reported that natural gas inventories rose 95 billion BCF's last week, slightly lower than the expected 96 billion rise and below last week's rise of 111 billion BCF's.

Looking at the United States Natural Gas Fund (NYSE: UNG), there were some interesting trades ahead of the release. At 10:29, one minute before the release, the ETF began trading at $20.01. About 20 second before the release, the fund spiked up to $20.10, dropped to $20.05, and then bounced to $20.12. This all happened before the data was released.

A Pattern?

Similar patterns for this one data release are seen on a weekly basis, and yet no media ...

Exclusive: VeriFone Shares in 'No Mans Land' After Dismal Earnings

Matthew Kanterman — Wed, 05 Jun 2013 20:50:42 +0000

Payment processing company VeriFone Systems (NYSE: PAY) announced second quarter earnings that missed analyst expectations. Further, the company slashed guidance for the second time in three quarter as shares plummeted after hours to within breathing room of a new 52-week low.

CNBC Fast Money host and Metropolitan Capital Advisors co-Founder and President Karen Finerman, notably short the stock, commented exclusively to Benzinga after the earnings release. The stock is in "no mans land here" she said of the company after the dismal report.

Second Quarter

For the fiscal third quarter ended April 30, 2013, VeriFone reported non-GAAP earnings per share of $0.42, lower than the consensus analyst forecast of $0.47 per share by 10.64 percent. Earnings per share were down 34.375 percent from the same period a year ago.

Revenues were also weak in the quarter as the company struggles to grow its business. Revenues were reported at $426.3 million on a non-GAAP basis as compared to the consensus forecast of $440.3 million, missing by 3.18 percent. ...