Another Sharp Comeback
Over the past few months, we have been seeing big rebounds from market declines.
While I began to expect a rally yesterday, equities fared far better than I thought they would. Though I think it was too much, too fast, the pattern of sharp comebacks from market declines has been the character over the last few months.
From my perch, it's all too familiar and all too predictable.
Insider Buying in Altisource
I am seeing a small insider buying in ASPS this afternoon.
Tidbits From Lincoln National
Core business is growing moderately, and excess capital is now approaching $750 million.
Returns on invested capital should be about 9% in 2011, and the company remains sensitive to low interest rates.
LNC's annual analyst day was uneventful.
Did Google Go For Twitter?
Sources say that Google offered between $2.5 billion and $4 billion to buy Twitter earlier this year.
Bank of America Secondary?
BAC's shares continue to trade poorly. The rumor du jour is that there will be a secondary in the name announced shortly. I doubt it.
The proximate cause for the overnight strength was based on news over there.
Specifically, signals that the Irish debt crisis is close to being "resolved" and indications that the Chinese will take a more gradualist approach and would not likely be issuing price controls to stem inflation.