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Frederic Ruffy submits: SentimentThe end of the second quarter is wrapping up in uninspired fashion Wednesday. After a 269-point tumble yesterday, the Dow Jones Industrial Average opened steady despite another dose of disappointing economic news. ADP reported early Wednesday that the US economy added just 13,000 private sector jobs during the month of June. The number fell well short of economist estimates, which called for an increase of 61,000. In addition, the bad news comes two days before the Labor Department releases its monthly report. Economists expect Friday’s data to show the economy losing 100,000 jobs and the unemployment rate edging up to 9.8 from 9.7 percent. The underlying tone of trading might remain cautious ahead of Friday’s numbers and the three-day Fourth of July weekend. Indeed, with an hour left to trade, the Dow Jones Industrial Average is flat. The CBOE Volatility Index (.VIX) lost 1.63 to 32.50. Trading in the options market was brisk early in the day, but has since slowed to well below normal pace. About 4.7 million calls and 4.3 million puts traded so far. Bullish Flow Mosaic (MOS) is up 45 cents to $39.80 and trying to battle back from a grueling 36.2 percent loss sustained since mid-March. In options action, some traders are taking a longer-term view. One player paid $2.50 for the January 2012 $65 call. 3500X. 13.2K now traded vs. 120 in open interest. The call buying seems ambitious, because the contract is 63.3 percent out-of-the-money and it would require a move to $67.50 just to breakeven at expiration. On the other hand, the contract doesn’t expire for a year and a half and MOS was trading above that (67.5) level as recently as January of 2010.Complete Story »

Zacks.com submits:
On June 24, Discover Financial Services (DFS) reported a fiscal second quarter profit of $258 million or 33 cents per share. The earnings were well ahead of the Zacks Consensus Estimate at 11 cents. The surge in profits was due to a significant rise in the use of credit cards with reduced defaults, as well as gains from the payments business driven by strong volumes.The company reported a loss of $132 million or 31 cents per share in the year-ago quarter. However, results in the year-ago quarter excluded an after-tax gain of approximately $295 million related to the settlement of an antitrust litigation with Visa, Inc. (V) and Mastercard Incorporated (MA).Complete Story »

Market Folly submits:(This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund filings.) Next up is investment guru and legend Julian Robertso,n who founded one of the lauded hedge funds of the era, Tiger Management. He grew the fund from $8 million at inception to over $22 billion at its peak. Between 1980 and 2000, Tiger compounded a gross rate of 31.5%, but after losses of 4% in 1998 and 19% in 1999, Tiger shut down. For more information on Julian, check out Daniel Strackman's book entitled, Julian Robertson: A Tiger in the Land Of Bulls And Bears.Complete Story »

Karl Denninger submits: There's nothing here that I like: Consumer credit increased at an annual rate of 1/2 percent in April 2010. Revolving credit decreased at an annual rate of 12 percent, and nonrevolving credit increased at an annual rate of 7 percent.Complete Story »

Market Folly submits:(This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund filings.)Next up is Chris Shumway's hedge fund Shumway Capital Partners. Prior to founding his firm, Shumway was previously one of Julian Robertson's right-hand men at legendary hedge fund Tiger Management. As such, he joins the other successful Tiger Cubs and is included in the Tiger Cub portfolio created with Alphaclone for hedge fund replication. Shumway Capital Partners focuses on intensive fundamental research to drive their long/short equity strategy. Back in 2009, Shumway was listed in Barron's top 100 hedge funds for 2009 with a rolling 3-year annualized return of 28%. However, 2010 has proven difficult for the firm as its Sakkonet Fund was down 10% in May after it had gained 4.3% through April. Shumway received his MBA from Harvard Business School and his undergraduate degree from the University of Virginia.Complete Story »

Brooks McFeely submits:4:08 PM, May 14, 2010 --

• DJIA down 162.79 (1.51%) to 10,620.16.
• S&P 500 down 21.76 (1.88%) to 1,135.68.
• Nasdaq down 47.51 (1.98%) to 2,346.85.

GLOBAL SENTIMENT Complete Story »

Zacks.com submits:
MasterCard Inc.’s (MA) first quarter operating earnings per share of $3.46 came in substantially ahead the Zacks Consensus Estimate of $3.14 and $2.80 in the year-ago quarter. Net income for the reported quarter was $455 million, up 24% from $367 million in the prior-year quarter. Results for the reported quarter improved over the prior-year quarter due primarily to better pricing, an increased number of processed transactions and higher operating margin. However, higher operating expenses as a result of increased fixed costs were on the downside.Complete Story »

Alan Brochstein, CFA submits:
Tech stocks were the stars of the 2009 rally, but they endured a tough first couple of months in 2010. While they are still lagging the overall market, it looks like the correction they endured is over, with Tech SPDR ETF (XLK) breaking through its high from September 2008 this week after pulling back 11% from early January to a low in early February: Amazingly, the sector has recovered 71% of its losses during the bear market.Complete Story »

Miriam Metzinger submits: Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday April 1. The "Inside Baseball" on IPOs: Visa (V), Mastercard (MA) Complete Story »

Scott's Investments submits:I have begun conducting the following screen on a monthly basis. Early results have been positive, especially in a bullish environment like the current one. February's list is here and January's here. The screen looks for the following:

• earnings growers still reasonably priced as judged by the PEG ratio
• low debt
• a history of high return on equity and investment, and
• price momentum as gauged by the percentage the stock is trading to its 250 day high.

January's list returned 1.39% vs .57% for SPY. February's list returned a solid 11.78% vs. 6.77% for SPY. The top stock for February's list was Techwell (TWLL), which returned over 49% in one month. For the full list of stocks and results, please see the right hand side of Scott's Investments.Complete Story »