Trading in Leap reportedly probed

Last week’s trading halt, the May 2010 Flash Crash, Nasdaq’s botched handling of Facebook’s IPO and trading glitches at Knight Trading last year and at Goldman Sachs last week have rattled public confidence in the market. “It seems like there is little consistency in how these things are dealt with,” said Stephen Massocca, a managing director at brokerage Wedbush Equity Management LLC in San Francisco. “I don’t think there is a single methodology for dealing with these things, that quite frankly are going to continue to happen.” Nasdaq faced similar criticism last year when Facebook debuted its share offering. An open conference call held on the morning of that IPO in May 2012 went silent during a critical period, when market-makers wanted to know why trading was not occurring.
Source: http://www.reuters.com/article/2013/08/26/us-nasdaq-halt-communication-idUSBRE97P0V420130826

The REIT invests primarily in income-producing retail properties with strong tenant covenants, stable yields, low vacancy levels and strong growth potential. Retrocom’s historical revenue and net income: The analysis on Retrocom reports that the company’s revenue has been in decline over the past five years, the company has issued CAD170.01 million of debt over the past three years and that the P/B ratio is at a three-year low. The Peter Lynch Chart suggests that the company is currently undervalued : Retrocom is currently trading at a 52-week low of $4.82. Retrocom Mid-Market has a market cap of $295.469 million. Its shares are currently trading at around $4.82 with a P/E ratio etf to buy now of 3.66, a P/S ratio of 2.99 and a P/B ratio of 0.63. The dividend yield of Retrocom stocks is 9.33%.
Source: http://www.nasdaq.com/article/canadian-reits-trading-at-52week-lows-report-insider-buys-cm270961

CME Group, which owns the Chicago Board of Trade and New York Mercantile Exchange, said the study issued on Tuesday showed the benefits of high-frequency trading. “This is an important study demonstrating, as many others have already done, that high frequency trading does not increase volatility, but rather serves as an important provider of liquidity for the marketplace,” CME spokeswoman Laurie Bischel said. Representatives for the ICE and NYSE declined to comment. A spokesman for the Eurex could not immediately be reached.
Source: http://www.reuters.com/article/2013/08/27/trading-fast-study-idUSL2N0GS1XH20130827?type=companyNews&feedType=RSS

Canadian REITs Trading at 52-Week Lows Report Insider Buys

Bill Keep, the dean of the College of New Jersey, who is an expert on pyramid schemes, was recently questioned by Liora Sukhatme, a lawyer in the SECs enforcement area. Sukhatme asked Keep about a meeting he had with Sohn on June 26, he said. Keep, who has ties with the Federal Trade Commission, declined to elaborate on his SEC chat. Sukhatme did not return a call for comment.
Source: http://nation.foxnews.com/2013/08/28/sec-looking-george-soros’-family-fund-alleged-insider-trading

Three Charged With Stealing Flow Traders Trading Software

Jason Vuu, a Flow Traders employee until his resignation in March, was charged with 20 counts of the same offenses. His e-mails were sent from August 2011 to August 2012, and he sometimes changed the file format of the attachments to make it difficult to recognize their contents, according to the complaint. Vuu is accused by prosecutors of sharing the software code with Simon Lu, who wasnt a Flow Traders employee, to create their own trading company. Lu is charged with three counts each of unlawful duplication of computer related material and unauthorized use of secret scientific material. Code Uncompromised Im confident that when the DAs office has completed their investigation they will find Flow Traders did not suffer any economic loss, Jeremy Saland, a lawyer for Vuu, said in an e-mail yesterday. Their algorithms and code werent taken or used in any malicious way that damaged or compromised their financial security. Charles Ross , a lawyer for Cressman, Paul Shechtman, a lawyer for Lu, and Joseph DeMarco, a lawyer for Flow Traders, didnt immediately return phone and e-mail messages yesterday after regular business hours seeking comment on the charges.
Source: http://www.bloomberg.com/news/2013-08-26/three-charged-with-stealing-flow-traders-trading-software.html

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Student loan deal passes Senate

The New York Timesand other publications have written on the trend of increasingly demanding degree requirements for jobs that shouldn’t need one, like receptionists, couriers, or sales agents at rental car outlets. To get a good job, you need a degree. That’s truer now than it’s ever been. Today’s high school graduates face unemployment rates of more than 8%, but people with a bachelor’s degree browse can feel more secure with a 4.5% unemployment rate. However, to get a degree, in nearly every case, you gotta pay to play.
Source: http://www.fool.com/investing/general/2013/08/25/the-student-loan-bubble-is-creating-a-generation-o.aspx

It is comprised of the yield on the 10-year Treasury note on June 1, plus an additional 2.05%. Graduate students will have to pay 5.41% on loans this fall, or 3.6% over the 10-year Treasury, also on June 1. Related: Bill helps college students now, but future students to see rate hikes If rates on Treasury notes rise, so would student loan rates under the new deal. However, if interest rates were to spike, the bill makes provisions to cap the rates. Loans for undergraduates will be capped at 8.25% and for graduates at 9.5%. Over 10 years, the interest rates the government collects on student loans is expected to raise $715 million.
Source: http://money.cnn.com/2013/07/24/news/economy/senate-student-loans/index.html

Government profits to soar more than $700 million with new student loan rates

Tim Walberg, a member of the House Higher Education Committee, also cheered the move. This is a win for students, families and taxpayers, the Tipton Republican said in a statement. But the CBO analysis shows its only a short-term win for students and families. While the CBO projects profits for the government each of the next 10 years, it shows that starting in 2016, the profit level will increase. The CBOs projections look at how much money the federal government will have to subsidize the program.
Source: http://www.freep.com/article/20130825/NEWS05/308250092/federal-government-student-loan-profits-going-up

First Week of September 21st Options Trading For Zions Bancorporation (ZION)

Of course, a lot of upside could potentially be left on the table if ZION shares really soar, which is why looking at the trailing twelve month trading history for Zions Bancorporation, as link well as studying the business fundamentals becomes important. Below is a chart showing ZIONs trailing twelve month trading history, with the $30.00 strike highlighted in red: Considering the fact that the $30.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 58%. On our website under the contract detail page for this contract , Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted).
Source: http://www.forbes.com/sites/stockoptionschannel/2013/08/12/first-week-of-september-21st-options-trading-for-zions-bancorporation-zion/

Doron Barness Named Head Of Oppenheimer’s New York Institutional Equity Sales Trading David Laufer, Anthony Mazzella To Co-Head Cash Equity Trading

In his email, Conheeney described as inaccurate some media reports that SAC Capital will need to get much smaller as it returns money, and might collapse or streamline businesses. On Friday, a U.S. judge approved an agreement between the Connecticut-based fund and federal prosecutors to allow the firm to continue to operate while the criminal case proceeds. SAC has pleaded not guilty. Parameter’s closing comes as about a dozen marketing and sales people were let go by Cohen’s hedge fund over the past few weeks. “It is not that surprising that SAC would lay off marketing staff.
Source: http://www.reuters.com/article/2013/08/12/us-hedgefund-sac-idUSBRE97B0MP20130812?feedType=RSS

SAC Capital’s Parameter Capital trading group closes: sources

Stocks slip in early trading on Wall Street after Japans economic growth disappoints Richard Drew, File/Associated Press – FILE – In this Wednesday, July 31, 2013 file photo, specialists Joseph Dreyer, left, and Donald Civitanova work on the floor of the New York Stock Exchange. After a losing week for the three major stock indexes, investors are hoping for a rebound on Wall Street, Monday, Aug. 12, 2013. By Associated Press, NEW YORK Stocks are slipping in early trading on Wall Street after Japans economic growth came in weaker than analysts had expected. The Dow Jones industrial average was down 25 points, or 0.2 percent, at 15,399 after the first few minutes of trading Monday. More business news
Source: http://www.washingtonpost.com/business/stocks-slip-in-early-trading-on-wall-street-after-japans-economic-growth-disappoints/2013/08/12/f81ba27e-0356-11e3-bfc5-406b928603b2_story.html

IIROC Trading Resumption – TGX

We expect Dorons insight, energy and experience to have a transformative influence on Oppenheimers trading desk in this senior capacity as we seek to expand our institutional market share, said John Hellier, head of Equity Capital Markets. He is ideally positioned to continue the evolution of our business in the face of the ever changing nature of equity trading on Wall Street. Oppenheimer is also pleased to announce the promotion of David Laufer and Anthony Mazzella, who will assume positions as Co-Heads of Cash Equity Trading. David and Anthony, as well as Doron Barness, will continue to report to Head of Equity Trading Peter Feinberg. David joined the Firms Cash Equity desk in 2012 as Senior Technology, Media and Telecommunications (TMT) trader after 12 years at BMO and Canaccord Genuity. His thoughtful and timely updates on the technology sector have rapidly made him a thought leader on the trading desk.
Source: http://www.thestreet.com/story/12007298/1/doron-barness-named-head-of-oppenheimer8217s-new-york-institutional-equity-sales-trading-david-laufer-anthony-mazzella-to-co-head-cash-equity-trading.html

Stocks slip in early trading on Wall Street after Japan’s economic growth disappoints

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) Contact: IIROC Inquiries 1-877-442-4322 (Option 2) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only. For more information on IIROC’s halts and resumptions policy click here . @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes.
Source: http://finance.yahoo.com/news/iiroc-trading-resumption-tgx-134200847.html

Sallie Mae, Education Department Under Fire For Student Loans To Military Service Members

When all else fails, PHCC offers an emergency short-term loan directly from the school to cover up to 15 credit hours. I exhaust every option of free money before I even suggest that, Keller said. Once students pursue four-year degrees, Redd said he can help them to find every revenue source possible to pay for school without accumulating debt. Its not a process you should go through by yourself, he said, adding that high schools also counsel students to help them and their parents find as many sources of financial aid as possible. The key, he said, is putting in the effort which will pay off in the end.
Source: http://www.martinsvillebulletin.com/article.cfm?ID=38651

Signing student loan deal into law, Obama says ‘job is not done’ on college affordability

The agency also could terminate a companys contract. Still, some financial analysts said they doubted the Education Department will take punitive action against Sallie Mae. Michael Tarkan, Compass Point Research & Trading senior analyst, said the likely servicemembers law violation will probably increase political pressure on Sallie Mae, but wont affect its relationship with the Education Department. Sallie Mae is too large and important to the system, which has experienced some growing pains” after the 2010 elimination of a bank-based federal student loan program, Tarkan said. Reducing business sent to Sallie Mae could increase risk and cause further disruption. Its unclear if previous criticism of the Education Departments supervision of Sallie Mae has had any effect.
Source: http://www.huffingtonpost.com/2013/08/08/sallie-mae-education-military_n_3729092.html

As a condition of his support, Sen. Tom Harkin, D-Iowa, chairman of the Senate Health, Education, Labor and Pensions Committee, won a Government Accountability Office report on the costs of colleges. That document was expected to come in December. “Even with this important bill signed into law, much work remains to ensure college stays within reach for middle-class families and those striving to get into the middle class,” White House spokesman Jay Carney said Thursday. But for now, interest payments for tuition, housing and books would be less expensive. In all, some 18 million loans will be covered by the legislation, totaling about $106 billion this fall.
Source: http://abcnews.go.com/Business/wireStory/obama-sign-student-loan-deal-19912849

Susan Tompor: Despite student loan relief, do math carefully when borrowing

So the cost of a 2.25 percent private variable loan is in the same ballpark as the federal loans, Kantrowitz said. But private loans typically do not offer all of the same repayment benefits as federal education loans. Research the options that your private loan may have for repayment plans. Kantrowitz warned that a 5 percent variable rate, if you could get it, might hit 9 percent during a 10-year life of the loan. “You might be chasing after a low teaser rate, but ultimately it will cost you more,” Kantrowitz warned.
Source: http://www.sunherald.com/2013/08/10/4863171/susan-tompor-despite-student-loan.html

Obama to Sign Student Loan Deal

Interest rates will how to apply for Obama student loan forgiveness program not top 8.25 percent for undergraduates. Graduate students will not pay rates higher than 9.5 percent, and parents rates would top out at 10.5 percent. Using Congressional Budget Office estimates, rates would not reach those limits in the next 10 years. In all, some 18 million loans will be covered by the legislation, totaling about $106 billion this fall. The Congressional Budget Office estimated the bill would reduce the deficit by $715 million over the next decade.
Source: http://www.washingtonpost.com/politics/federal_government/obama-set-to-sign-student-loan-bill-that-offers-students-better-deals-and-lower-rates/2013/08/09/ef13d284-00c5-11e3-8294-0ee5075b840d_story.html