JPMorgan fined $920 million in 'London Whale' trading loss

JPMorgan Chairman and CEO Jamie Dimon has kept both his jobs, despite the controversy.

NEW YORK (CNNMoney) JPMorgan Chase agreed Thursday to pay about $920 million fines to U.S. and U.K. regulators to settle charges related to the "London Whale" trading debacle.

With the penalty, the bank is acknowledging that it violated banking rules by not properly overseeing its trading operations. In legal language, regulators said that the bank and engaged in "unsafe and unsound practices."

As a result of those inadequate risk controls, a team of traders made a complex derivatives bet last year that ultimately generated about $6 billion in losses. The trader thought to be responsible for the bet was nicknamed the "London Whale" due to his team's massive trading position, and the fact that he was based in London.

The fine money will be split among regulators, with $300 million going to the Office of the Comptroller of the Currency, $200 million going to the Securities and Exchange Commission, $200 million to the Federal Reserve and $220 million to the U.K. Financial Conduct Authority.

The charges JP Morgan settled were civil, not criminal, and none of its current officers were penalized by the authorities. The bank said it has changed its practices to make sure this kind of loss can not be repeated.

"We have accepted responsibility and acknowledged our mistakes from the start, and we have learned from them and worked to fix them," said JPMorgan Chase Chairman and CEO Jamie Dimon.

The fine is modest one for the bank, which is the nation's largest with $2.4 trillion in assets. It earned net income of $13 billion in the first half of this year alone on revenue of $51.8 billion. And shares of JPMorgan Chas (JPM, Fortune 500)were down about 1% in early trading Thursday after the fine was announced.

B! ut the trading loss has been a black eye to the reputation of JPMorgan Chase, which had weathered the financial crisis five years ago better than many of the nation's other major banks.

When he revealed the loss in May 2012, Dimon admitted that the bank had been "stupid." Still, Dimon kept both his jobs despite a shareholder effort to separate the positions following the loss. However, his bonus was slashed in the wake of the trading loss, and Ina Drew, the firm's chief investment officer, left the bank.

JPMorgan has previously said it has recordings, e-mails and other documents that suggest its traders may have been hiding the losses as they ballooned.

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But in March, the Senate's Permanent Subcommittee on Investigations said its probe of the loss revealed that JPMorgan "disregarded multiple internal indicators of increasing risk; manipulated models; dodged [federal] oversight; and misinformed investors, regulators and the public about the nature of its risky derivatives trading."

Two former employees from the team that made the bets were charged in U.S. District Court in New York last month with conspiring to conceal losses on the trade. One was arrested in Spain, the other is living in France, which generally does not extradite defendants charged with these kinds of crimes. A third trader has avoided prosecution by cooperating with authorities.

Hot Blue Chip Stocks To Own Right Now

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I’m all for buying “blue chip” stocks for the long-term. Hey, what long-term investor isn’t?

Hot Blue Chip Stocks To Own Right Now: Chevron Corporation(CVX)

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The Upstream segment involves in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as holds interest in a gas-to-liquids project. The Downstream segment engages in the refining of crude oil into petroleum products; marketing of crude oil and refined products primarily under the Chevron, Texaco, and Caltex brand names; transportation of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacture and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It a lso produces and markets coal and molybdenum; and holds interests in 13 power assets with a total operating capacity of approximately 3,100 megawatts, as well as involves in cash management and debt financing activities, insurance operations, real estate activities, energy services, and alternative fuels and technology business. Chevron Corporation has a joint venture agreement with China National Petroleum Corporation. The company was formerly known as ChevronTexaco Corp. and changed its name to Chevron Corporation in May 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.

Advisors' Opinion:

• [By GuruFocus] ref="http://www.gurufocus.com/StockBuy.php?GuruName=Tom+Gayner">Tom Gayner initiated holdings in Chevron Corp. His purchase prices were between $114.81 and $126.43, with an estimated average price of $120.86. The impact to his portfolio due to this purchase was 0.18%. His holdings were 43,000 shares as of 06/30/2013.

  New Purchase: Brookfield Property Partners LP (BPY)

  Tom Gayner initiated holdings in Brookfield Property Partners LP. His purchase prices were between $19.57 and $23.64, with an estimated average price of $21.67. The impact to his portfolio due to this purchase was 0.13%. His holdings were 175,122 shares as of 06/30/2013.

  New Purchase: ONEOK, Inc. (OKE)

  Tom Gayner initiated holdings in ONEOK, Inc.. His purchase prices were between $41.16 and $52.13, with an estimated average price of $46.98. The impact to his portfolio due to this purchase was 0.1%. His holdings were 70,000 shares as of 06/30/2013.

  New Purchase: Blackstone Group LP (BX)

  Tom Gayner initiated holdings in Blackstone Group LP. His purchase prices were between $19.1 and $23.45, with an estimated average price of $21.2. The impact to his portfolio due to this purchase was 0.09%. His holdings were 116,900 shares as of 06/30/2013.

  New Purchase: BlackRock Inc (BLK)

  Tom Gayner initiated holdings in BlackRock Inc. His purchase prices were between $245.3 and $291.69, with an estimated average price of $267.9. The impact to his portfolio due to this purchase was 0.08%. His holdings were 9,100 shares as of 06/30/2013.

  New Purchase: KKR & Co LP (KKR)

  Tom Gayner initiated holdings in KKR & Co LP. His purchase prices were between $17.8 and $21.15, with an estimated average price of $19.85. The impact to his portfolio due to this purchase was 0.08%. His holdings were 115,000 shares as of 06/30/2013.

  New Purchase: Eni SpA (E)

  Tom Gayner initiated holdings in Eni SpA. His purchase prices were between $40.39 and $48.96, with an estimate

• [By Jonas Elmerraji]

  Surprisingly, one of the names that's correlating the highest with the S&P 500 right now is oil and gas supermajor Chevron (CVX). Just like the S&P, Chevron is trading in a very well-defined trend channel. The key difference is that the Chevron trade is further along; this stock is bouncing off of trendline support this week. That means it's time to be a buyer.

  Commodities and materials stocks are seeing some buoyancy this week, but Chevron's price action is different -- it's been more sustained over the course of 2013. This stock's proximity to trendline support right now makes it the best-in-breed oil name in my view. As geopolitical risks propel oil prices, the real story at CVX is the fact that support is just a few points away. That makes Chevron a great setup from a risk management perspective.

  Speaking of risk management, if you decide to jump into shares here, I'd recommend keeping a protective stopprotective stop just above the 200-day moving average.

• [By Helix Investment Research]

  We note that Keating Capital's co-investors in many of its portfolio companies are not simply other venture capital or existing investors, but strategic investors as well. Examples include Agilyx, where Waste Management (WM) is a co-investor, BrightSource, where Chevron (CVX) and BP (BP) are co-investors, Kabam, where Google (GOOG) and Intel (INTC) are co-investors, or Tremor Video (TRMR), where Time Warner (TWX) is a co-investor. As of the end of Q2 2013, 9 (excluding Jumptap) of Keating Capital's portfolio companies had unrealized gains, with an average gain of 25.6% (again excluding Jumptap, which had unrealized gains of 8% as of the end of Q2 2013). The remaining 6 companies had an average loss of 44.46%. However, on an overall basis, Keating Capital's portfolio currently has an average unrealized gain of 2.15%. While this is not a large gain, we note that the bulk of Keating Capital's profits are realized upon exiting an investment in conjunction with the portfolio company's IPO or sale. Furthermore, portions of Keating Capital's portfolio are defended by structurally protected appreciation clauses that the company has struck with its portfolio companies, clauses that are not reflected on its balance sheet. These clauses, which are negotiated between Keating Capital and its portfolio companies, allow the company to receive shares in the portfolio company's IPO at a discount, or grant it warrants to purchase additional shares in an IPO for a nominal price. Since inception, Keating Capital has negotiated structurally protected appreciation clauses in 11 of the 20 companies it has invested in. As of the end of Q2 2013, 6 of Keating Capital's 15 portfolio companies were protected by structurally protected appreciation clauses, representing $22 million in total capital (almost 43% of the company's invested capital), thereby entitling Keating Capital to a weighted-average aggregate value of 1.9x its investment at the time of an IPO.

• [By Dividend]

  Chevron (CVX) has a market capitalization of $234.18 billion. The company employs 62,000 people, generates revenue of $241.909 billion and has a net income of $26.336 billion. Chevron�� earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to $59.975 billion. The EBITDA margin is 24.79 percent (the operating margin is 19.15 percent and the net profit margin 10.89 percent).

Hot Blue Chip Stocks To Own Right Now: McDonald's Corporation(MCD)

McDonald?s Corporation, together with its subsidiaries, operates as a worldwide foodservice retailer. It franchises and operates McDonald?s restaurants that offer various food items, soft drinks, coffee, and other beverages. As of December 31, 2009, the company operated 32,478 restaurants in 117 countries, of which 26,216 were operated by franchisees; and 6,262 were operated by the company. McDonald?s Corporation was founded in 1948 and is based in Oak Brook, Illinois.

Advisors' Opinion:

• [By Jim Jubak, Senior Markets Editor, MoneyShow.com]

  It looks like McDonald's (MCD) is facing a big price/cost squeeze. The latest evidence is the chain's test of a new Dollar Menu that would include items selling for as much as $5.00 and simmering discontent among franchisees who say that that company is increasing the fees that it charges them, in an effort to bolster the parent company's bottom line.

• [By Douglas A. McIntyre]

  The arms war among the fast-food chains escalated as McDonald’s Corp. (NYSE: MCD) confirmed that it would begin to sell chicken wings nationwide next month. Dubbed “Mighty Wings,” the new offering will come to market along with a growing set of coffee flavors and desserts. The move is just the kind of competitive menu maneuver that in this case threatens Yum Brands! Inc.’s (NYSE: YUM) KFC, but has been part of McDonald’s strategy for years — launch products meant to take customers from competitors and to build the bottom line.

• [By AnnaLisa Kraft]

  A chicken-wing upstart
  But with success comes competition.�McDonald's (NYSE: MCD  ) is debuting its own Mighty Wings nationally, chicken wings seasoned similarly to Popeye's New Orleans style with cayenne and chili pepper. The huge quantity of wings that McDonald's will need likely driving up prices from $1.44 a pound most recently will of course, affect the entire space including Yum! Brands, AFCE, and chicken focused Buffalo Wild Wings (NASDAQ: BWLD  ) ��

• [By Stoyan Bojinov]

  Fast food bellwether McDonald’s (MCD) announced on Tuesday that it had rolled out a new payment method that it is testing in select cities across the Southwest.Lisa McComb, spokesperson for McDonald’s, commented in an email to Bloomberg that the company has released an application that allows for customers to pay at the register directly from their smartphone. McComb went on to mention that the payment app is currently being tested in restaurant locations across Salt Lake City, Utah and Austin, Texas. McDonald’s also released global monthly sales data on the day; sales in the U.S. improved by 0.2% for the month while Europe saw a 3.3% jump.

  McDonald’s shares traded higher on Tuesday, gaining 0.46% on the day. The stock is up nearly 10% YTD.

Top 10 Penny Stocks For 2014: Apple Inc.(AAPL)

Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication and media devices, and portable digital music players, as well as sells related software, services, peripherals, networking solutions, and third-party digital content and applications worldwide. The company sells its products worldwide through its online stores, retail stores, direct sales force, third-party wholesalers, resellers, and value-added resellers. In addition, it sells third-party Mac, iPhone, iPad, and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and other accessories and peripherals through its online and retail stores; and digital content and applications through the iTunes Store. The company sells its products to consumer, small and mid-sized business, education, enterprise, government, and creative markets. As of September 25, 2010, it had 317 retail stores, including 233 stores in the United States and 84 stores internationally. The company, formerly known as Apple Computer, Inc., was founded in 1976 and is headquartered in Cupertino, California.

Advisors' Opinion:

• [By Rick Aristotle Munarriz]

  Alamy Microsoft CEO Steve Ballmer is heading for the exit. Should Microsoft (MSFT) shareholders follow suit? Shares of the software giant soared 7 percent on Friday on news that it would be replacing Ballmer as CEO within the next 12 months. The market's opinion of the news must sting Ballmer (though it also made him a few hundred million dollars richer), but investors expecting that Microsoft's next leader will be able to return the company to its former glory may be in for a rude awakening. Why would consumers and businesses want to return to a time when they were dependent on a stodgy operating system that was expensive and slow to adapt? What if Microsoft doesn't find the right CEO? What if there is no such thing as the CEO? Those are just a few of the heavy questions that Microsoft's stockholders face in light of Ballmer's pending departure, and they may not like the answers. You Can't Go Home Again First, let's talk fundamentals. Does Microsoft's business make it a good buy for forward-thinking investors? Well, in the past dozen years, Microsoft has gone from being the world's most valuable company to one that is worth less than two-thirds of what current leader Apple (AAPL) is today. Microsoft and Google (GOOG) commanded nearly identical $290 billion market caps at the kick off of this trading week, and the search engine giant wasn't even publicly traded when Ballmer was tapped to be Microsoft's CEO in 2000. In fact, Google had only been founded 16 months earlier. Tech babies grow so fast these days. And that, at least in part, is the root of Microsoft's problems. Computing hasn't merely evolved -- it has metamorphosed. Consumers aren't buying PCs like they used to. Desktop and laptop sales have fallen sharply for five consecutive quarters, which has never happened before. That's not a lull. That's not a bad stretch. That's a trend. And it isn't just a Windows woe. Apple's Mac sales have also been sliding in recent quarters. Most PC buyers never

• [By Michael Vodicka]

  Any time an 800-pound gorilla moves into the neighborhood current residents have reason to be worried. And that is exactly what is happening with Apple, Inc. (AAPL) and Pandora (P) right now.

• [By Reuters]

  Mark Lennihan/APMicrosoft CEO Steve Ballmer at last year's unveiling of the Nokia 920 smartphone. SEATTLE -- Microsoft takes on Google's Motorola Mobility unit this week in the second of two landmark trials between the companies that delve into hot disputes over the patents behind smartphone and Internet technology. The jury trial, starting Monday in federal court in Seattle, is set to resolve whether Motorola breached its contract with Microsoft to license on reasonable terms its so-called standard essential patents, covering wireless and video technology used in the Xbox game console. The proceeding comes days after Microsoft CEO Steve Ballmer unexpectedly announced his retirement. It also follows a complex trial last November that decided what the appropriate fee for Microsoft's use of Motorola-patented technology should be. After five months of deliberation, U.S. District Judge James Robart came down heavily in Microsoft's favor, saying it owed only a fraction of the royalties Motorola had claimed, suggesting the appropriate rate was about $1.8 million, above Microsoft's estimate of $1 million, but well below Motorola's demand for as much as $4 billion a year. Motorola cannot appeal Robart's April ruling until after the jury decides the second phase of the case. In a court filing, Microsoft said it had offered to pay Motorola $6.8 million in past royalties, based on its application of Robart's order. However, Motorola rejected the money, the filing said. In the forthcoming trial, starting with jury selection on Monday, Microsoft will argue that Motorola's initial demand was exorbitant and a clear breach of its agreement to charge reasonable and non-discriminatory terms -- commonly referred to as "RAND" -- for technology that is an industry standard. Microsoft (MSFT) and Google (GOOG) declined comment on the trial. After the result of the first trial, Motorola may have an uphill task in persuading a jury that it did not breach its contract. But Mi

Hot Blue Chip Stocks To Own Right Now: Visa Inc.(V)

Visa Inc., a payments technology company, engages in the operation of retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities. The company owns and operates VisaNet, a global processing platform that provides transaction processing services. It also offers a range of payments platforms, which enable credit, charge, deferred debit, debit, and prepaid payments, as well as cash access for consumers, businesses, and government entities. The company provides its payment platforms under the Visa, Visa Electron, PLUS, and Interlink brand names. In addition, it offers value-added services, including risk management, issuer processing, loyalty, dispute management, value-added information, and CyberSource-branded services. The company is headquartered in San Francisco, California.

Advisors' Opinion:

• [By Ben Levisohn]

  But regardless of the merits, Alcoa (AA), Hewlett-Packard (HPQ) and Bank of America (BAC) are being booted from the index and replaced with Visa (V), Goldman Sachs (GS) and Nike (NKE).

• [By Jon C. Ogg]

  What we would first refer you to is our prediction of the six major dividend hikes before the end of 2013. Then we would focus on Visa Inc. (NYSE: V) as well, even if it was not included in our recent dividend hike predictions. Frankly, it should have been obvious but for some reason was not.

• [By Alex Planes]

  It was from these humble beginnings that Visa (NYSE: V  ) was born. BankAmericard became an independent corporation in 1970 and later changed its name to Visa in 1976 as a way to broaden its appeal internationally. By this point the Master Charge had been established as a competing credit card network, and it had actually grown larger than the former BankAmericard: In the first quarter of 1976, BankAmericard/Visa claimed 31.8 million cardholders and $2.3 billion in sales volume, while the Master Charge had 37.4 million cardholders and processed $2.9 billion in sales. Master Charge, of course, is the forerunner to MasterCard (NYSE: MA  ) , but it hasn't maintained its early lead over Visa. In 2012, Visa's total U.S. purchase volume clocked in at $981 billion compared to $534 billion for MasterCard, and Visa's 278 million American cardholders far outweigh MasterCard's 180 million American cardholders.

Hot Blue Chip Stocks To Own Right Now: Philip Morris International Inc(PM)

Philip Morris International Inc., through its subsidiaries, engages in the manufacture and sale of cigarettes and other tobacco products in markets outside of the United States. Its international product brand line comprises Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris, and Red & White. The company also offers its products under the A Mild, Dji Sam Soe, and A Hijau in Indonesia; Diana in Italy; Optima and Apollo-Soyuz in the Russian Federation; Morven Gold in Pakistan; Boston in Colombia; Belmont, Canadian Classics, and Number 7 in Canada; Best and Classic in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece; and Petra in the Czech Republic and Slovakia. It operates primarily in the European Union, Eastern Europe, the Middle East, Africa, Asia, Canada, and Latin America. The company is based in New York, New York.

Advisors' Opinion:

• [By Dividend Growth Investor]

  Altria Group (MO) was able to spin-off its Kraft Foods division in 2007. Shareholders in Altria received shares in Kraft for each share of Altria stock they held. In 2008, this was followed by the spin-off of Phillip Morris International (PM), which represented the international tobacco business of Altria Group.

Reserve Primary Fund settles shareholder suit for $54.9M

Bruce R. Bent, chief executive officer and co-founder of the Reserve Funds Inc., right, and son Bruce R. Bent II, president of the Reserve Funds Inc. Bloomberg

Bruce R. Bent II, president of the $62.5 billion Reserve Primary money-market fund that failed during the financial crisis, agreed to settle a shareholder lawsuit in an accord worth about $54.9 million.

Bent and his father, Bruce R. Bent, are among defendants that agreed to pay $10 million in cash, drop their claim for $42.4 million from a court-established expense fund, and to allow $2.5 million from the expense fund to go to shareholders. None of the defendants admitted wrongdoing as part of the proposed settlement to end a class-action lawsuit lead by Third Avenue Institutional International Value Fund LP.

The suit was filed in September 2008, two days after Lehman Brothers Holdings Inc. went bankrupt in the midst of the worst U.S. economic crisis since the Great Depression. The Reserve Primary money-market fund held $785 million in Lehman debt. A run on the fund triggered its failure when it “broke the buck” by failing to maintain a $1-a-share net asset value.

A federal jury found Bruce Bent II negligent on one claim of violating a securities law. His father was absolved of all claims in a suit by the U.S. Securities and Exchange Commission.

The fund's closure sparked an investor run on other money funds eligible to buy corporate debt. As they scrambled to sell holdings to meet redemptions, global credit markets froze. The panic abated after the U.S. Treasury guaranteed money-fund shareholders against default for a year and the Federal Reserve began financing the purchase of fund holdings at face value.

The settlement is subject to court approval.

(Bloomberg News) Like what you've read?

AutoZone Earnings Puzzle Investors as Shares Rise, Fall

AutoZone’s (AZO) earnings have investors puzzled as to whether they should buy or sell.

Reuters 

The Wall Street Journal has the goods on AutoZone’s report:

For the quarter ended Aug. 31, AutoZone reported a profit of $371.2 million, or $10.42 a share, up from $323.7 million, or $8.46 a share, a year earlier. Excluding an additional week of sales in the latest period, earnings were $9.76 a share.

Net sales improved 12% to $3.1 billion. Sales at stores open at least one year rose 1%.

Analysts polled by Thomson Reuters had most recently forecast per-share earnings of $10.34 on revenue of $3.09 billion.

Gross margin stayed at 51.8%.

The first reaction: Sell. In pre-open trading this morning, shares of Autozone had dropped 0.6% by 8:30 a.m. But they the stock soon rallied back into positive territory and was trading higher by 0.3% at 9:15. At the open, shares traded up as much as 1%, before falling into the red. Citigroup’s Kate McShane digs into the results, which were decidedly mixed:

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…the beat was driven by revenue growth of +12.0% y/y (vs. our +7.1%) and lower tax rate of 35.5% (vs. our 36.8%), partially offset by flat y/y gross margins (vs. our +117bps) and operating margin expansion of +29bps y/y (vs. our +143bps). Excluding the 17th week, sales would have been +5.6% y/y and EPS of $9.76.

Autozone also said its same-store sales rose just 1%, lower than McShanes estimate of a 3% increase and the analyst consensus of 2.5%.

Autozone has gained 17% this year, but is off by 1.9% during the past month, both of which have lagged the S&P 500. Perhaps that explains the muted reaction to the report. With investors not expecting much, a mixed report is just–a mixed report.

Autozone has dropped 0.3% to $413.22  , while Pep Boys (PBY) has gained 0.2% to $12.19 , Advanced Auto Parts (AAP) has risen 0.3% to $80.35, and O’Reilly Automotive (ORLY) has advanced 0.3% to $124.42 .

Citi sags after announcing mortgage layoffs

NEW YORK (MarketWatch) — Financial stocks sagged on Tuesday, with Citi among the biggest decliners as the lender indicated it was scaling back its mortgage business.

Citigroup (C)  fell, following its announcement late Monday that it will cut 1,000 jobs in its U.S. mortgage business. The cuts are just a small proportion of Citi's overall workforce – it had 253,000 employees as of June 30 – but they're part of a longer pattern. One year ago, Citi had 261,000 workers.

It's a familiar template throughout the entire industry, actually. The mega banks have been cutting jobs across the board to try to goose profits in a time of mediocre revenue growth. Citi said this round of job cuts comes because fewer people are applying for mortgages and refinancings as interest rates rise.

Click to Play Ex-UBS executive under fire over Libor testimony

Alex Wilmot-Sitwell, a former UBS executive, is under fire for testimony he gave to a Parliamentary committee about the Libor scandal.

Citi dipped 43 cents, or 0.9%, to $49.14.

More broadly, the Financial Select Sector SPDR fund (XLF)  fell 0.3%.

Elsewhere in the sector, Twitter plans to list on the New York Stock Exchange when it goes public, according to a report on TheStreet.com. That could be a painful snub to arch-rival Nasdaq (NDAQ)  , the stock exchange that likes to bill itself as the favorite of tech companies.

Though many stock exchanges have been hurt by technical glitches that have made some investors question how safe their money is, Nasdaq had to eat an especially public slice of humble pie last year when the much-ballyhooed public offering of Facebook (FB)   went haywire. That offering, in May 2012, locked out some would-be investors and left others holding shares they didn't want.

NYSE officials never miss a chance to delight in the mistakes of their rival, at least privately, though it's worth noting that the NYSE is itself being dramatically reshaped. The two-centuries-old stock exchange, symbolized by its ornate building at the corner of Wall and Broad, has struggled to stay relevant as high-speed computers replace guys in colored jackets. The NYSE is being bought by a much younger rival, Atlanta-based IntercontinentalExchange, or ICE (ICE)  .

Nasdaq shares actually were higher on the day, up 0.4%. ICE shares slipped 0.1%.

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Goldman Sachs (GS)  also fell, losing 0.3%. Goldman is advising Applied Materials on its plans to buy Tokyo Electron Ltd. in an all-stock deal.

General Solicitation Ban Lifted Today - Three Things You Must Know About It

It's official- startups can now publicly advertise that they are seeking investments, but it does come with additional responsibilities of which all entrepreneurs must be aware. In nine out of ten conversations with startups on RockThePost (a startup investing marketplace I co-founded), entrepreneurs were not aware of what it means to generally solicit or the implications tied to doing so set forth by the Securities and Exchange Commission (SEC). Among them, a potential consequence of failing to follow the regulations is being banned from fundraising for a year. Even if unintentional, acting against promulgated rules could lead to a death sentence for your startup. With changes in the legal landscape around openly fundraising and advertising investment opportunities, all heads of companies should understand Title II of the JOBS Act as it takes effect today.

Starting at the top, general solicitation means to publicly advertise the opening of an investment round in a private company by utilizing mass communication. Publicly advertising an investment round includes, but is not limited to, the following activities: 1. Revealing that the private company is actively seeking investments, 2. providing the details of the investment, such as the deal terms, and 3. revealing any additional information that is considered material for investors to know about the company in order to formulate an informed opinion.

This includes traditional and online media, such as, but not limited to:

A mass newsletter/email A public profile on a startup investment platform A company, personal or third-party website that displays openly that a startup is fundraising Public speaking engagements, such as conferences, panels, or forums Social media such as Facebook Facebook, Twitter, Linkedin or others Public videos

Anything that involves communicating pertinent deal term information on the fundraising efforts to a large audience of people who may or may not be accredited investors, will likely be considered general solicitation.

Beginning today, September 23rd, 2013, under Title ll of the JOBS Act, entrepreneurs will be permitted to publicly advertise that they are fundraising for their businesses, something that was previously illegal for the past 80 years under Rule 506 of Regulation D and Rule 144A of the Securities Act of 1933.

If startups choose to generally solicit their fundraising efforts, here are three things that they must do starting today in order comply with the new regulations of Title II as they stand:

1. Allow only accredited investors into the funding round

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The regulations state that if you do a Regulation D Rule 506 (b) offering, which is private fundraising, you can have up to 35 non-accredited investors participating in your round as long you have a pre-existing relationship with them. In the event you decide to carry out a public fundraising, you relinquish that option. Only verified accredited investors are permitted to invest in private companies that are generally soliciting.

2. Verify that all these investors are accredited.

This means that from the time you start to generally solicit until the time you close your funding round, you will be required to provide official documentation to confirm that each investor meets the accredited investor threshold, according to the SEC requirements specified in Rule 501 of Regulation D.  This can be uncomfortable and burdensome for both investors and startups, but there are third-party services that do this.  For instance, we built a proprietary investor verification service with bank-level security to protect investors' personal information and remove the burden from entrepreneurs to verify the SEC-approved documentation.

3. Declare that a 506(c) publicly advertised offering was undertaken as part of the Form D filing.
Just as of today, you will have to file a Form D within 15 days of receiving your first investment.  This means you will have to declare that you publicly advertised your offering, under new 506(c) regulations.  No additional changes to this process are taking effect at this time.  This could change when amendments to the proposed general solicitation rules are released, but for the moment, there are no further steps to be taken for SEC filings.

In addition to the final rules that are actionable now, there are independently proposed rules that further define the requirements and procedures involved in general solicitation. On September 3rd, 2013 we submitted comments to the SEC, which you can read here, to help shape the spirit of the proposed regulations such that it works more seamlessly with the natural flow of startups fundraising.

Joe Wallin, a highly respected startup lawyer at the forefront of the general solicitation, provides deep insight into why this ban lift is a big deal for entrepreneurs in his blog, which I highly recommend reading. As Wallin says, "for as long as we have all been alive entrepreneurs have been hamstrung. Held down by rules and regulations. Prohibited from speaking to the public at large about what they were working on and the investment opportunity it presented." Today- all of that changes. To see the first startups taking advantage of the general solicitation ban lift, click here.

Hot Casino Stocks For 2014

It's been a tumultuous, Twitter-hacked, earnings-filled week, yet the market continues to chug higher. For skeptics like me, that's an opportunity to see whether companies have earned their current valuations.

Keep in mind that some companies�deserve�their current valuations. Take casino and hotel operator Las Vegas Sands (NYSE: LVS  ) , for example, which is approaching a new 52-week high on the heels of strength in its Macau business. Targeting a broader class of Chinese citizens and tourists, Las Vegas Sands has supplanted Wynn Resorts�in growth and is putting itself atop the casino sector.

Still, other companies might deserve a kick in the pants. Here's a look at three companies that could be worth selling.

Boring doesn't always mean "buy"
You may have heard me mention recently that boring industries can often make the most profitable industries. That is generally true, but it's not a rule! This is why packaging products maker Rock-Tenn (NYSE: RKT  ) has found its way onto my "sell-now" radar.

Hot Casino Stocks For 2014: MGM Resorts International(MGM)

MGM Resorts International, through its subsidiaries, primarily owns and operates casino resorts in the United States. The company?s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. As of December 31, 2010, the company owned and operated 15 properties located in Nevada, Mississippi, and Michigan; and has 50% investments in 4 other casino resorts in Nevada, Illinois, and Macau. In addition, MGM Resorts International has an agreement with the Mashantucket Pequot Tribal Nation, which owns and operates a casino resort in Connecticut, to carry the ?MGM Grand? brand name. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was founded in 1986 and is based in Las Vegas, Nevada.

Advisors' Opinion:

• [By Lisa Abramowicz]

  ��t�� allowed companies such as ourselves to continue to access the capital markets,��Dan D��rrigo, the executive vice president and chief financial officer of Las Vegas-based casino company MGM Resorts International (MGM), said in a Sept. 17 telephone interview. During the crisis, ��e still had access but at much more costly rates to our company,��he said.

Hot Casino Stocks For 2014: (XTRN)

Las Vegas Railway Express Inc. focuses to re-establish a conventional passenger train service between the Las Vegas and Los Angeles metropolitan areas. It plans to establish a ?Vegas-style? passenger train service. The company is based in Las Vegas, Nevada.

Top 5 Stocks To Invest In 2014: Boyd Gaming Corporation(BYD)

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States. As of December 31, 2011, the company owned and operated 1,042,787 square feet of casino space, containing approximately 25,973 slot machines, 655 table games, and 11,418 hotel rooms. It also owned and operated 16 gaming entertainment properties located in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey. In addition, the company owns and operates a pari-mutuel jai-alai facility located in Dania Beach, Florida, as well as a travel agency in Hawaii. Further, it holds a 50% controlling interest in the limited liability company that operates Borgata Hotel Casino and Spa in Atlantic City, New Jersey. Boyd Gaming Corporation was founded in 1988 and is headquartered in Las Vegas, Nevada.

Advisors' Opinion:

• [By Roberto Pedone]

  One gaming player that's rapidly moving within range of triggering a big breakout trade is Boyd Gaming (BYD), which owns and operates gaming entertainment facilities located in Nevada, Mississippi, Illinois, Louisiana and Indiana. This stock has been blazing a trail to the upside so far in 2013, with shares up sharply by 115%.

  If you look at the chart for Boyd Gaming, you'll notice that this stock has been uptrending strong over the last month and change, with shares moving sharply higher from its low of $11.27 to its intraday high of $14.38 a share. During that move, shares of BYD have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of BYD into breakout territory above resistance at $13.79 a share, and it's quickly pushing the stock within range of another big breakout trade.

  Traders should now look for long-biased trades in BYD if it manages to break out above its 52-week high at $14.50 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 2.34 million shares. If that breakout triggers soon, then BYD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $18 to $20 a share.

  Traders can look to buy BYD off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $13 a share. One can also buy BYD off strength once it takes out $14.50 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.

Hot Casino Stocks For 2014: Wynn Resorts Limited(WYNN)

Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts. The company owns and operates Wynn Las Vegas casino resort in Las Vegas, which includes approximately 22 food and beverage outlets comprising 5 dining restaurants; 2 nightclubs; 1 spa and salon; 1 Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; meeting space; and foot retail promenade featuring boutiques. Wynn Las Vegas casino resort also features approximately 147 table games, 1 baccarat salon, private VIP gaming rooms, 1 poker room, 1,842 slot machines, and 1 race and sports book. It also owns and operates an Encore at Wynn Las Vegas resort, a destination casino resort located adjacent to Wynn Las Vegas that features a 2,034 all-suite hotel, as well as a casino with 95 table games, 1 sky casino, 1 baccarat salon, private VIP gaming rooms, and 778 slot machines. In addition, the company operates Wyn n Macau casino resort located in the Macau Special Administrative Region of the People?s Republic of China. Wynn Macau casino resort features approximately 595 hotel rooms and suites, 410 table games, 935 slot machines, 1 poker room, 1 sky casino, 6 restaurants, 1 spa and salon, lounges, meeting facilities, and retail space featuring boutiques. Further, it operates Encore at Wynn Macau resort located adjacent to Wynn Macau. Encore at Wynn Macau resort features approximately 410 luxury suites and 4 villas, as well as casino gaming space, including a sky casino consisting of 60 table games and 80 slot machines, 2 restaurants, 1 luxury spa, and retail space. The company was founded in 2002 and is based in Las Vegas, Nevada.

Hot Casino Stocks For 2014: Pinnacle Entertainment Inc.(PNK)

Pinnacle Entertainment, Inc. owns, develops, and operates casinos, and related hospitality and entertainment facilities in the United States. It operates casinos, such as L'Auberge du Lac in Lake Charles, Louisiana; River City Casino and Lumiere Place in St. Louis, Missouri; Boomtown New Orleans in New Orleans, Louisiana; Belterra Casino Resort in Vevay, Indiana; Boomtown Bossier City in Bossier City, Louisiana; and Boomtown Reno in Reno, Nevada. The company also operates River Downs racetrack in southeast Cincinnati, Ohio. As of May 26, 2011, it operated seven casinos and one racetrack. The company was formerly known as Hollywood Park, Inc. and changed its name to Pinnacle Entertainment, Inc. in February 2000. Pinnacle Entertainment, Inc. was founded in 1935 and is based in Las Vegas, Nevada.

Hot Casino Stocks For 2014: Penn National Gaming Inc.(PENN)

Penn National Gaming, Inc. and its subsidiaries own and manage gaming and pari-mutuel properties in the United States. It operates approximately 27,000 gaming machines; 500 table games; and 2,000 hotel rooms in 23 facilities in 16 jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario. The company was formerly known as PNRC Corp. and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming, Inc. was founded in 1982 and is based in Wyomissing, Pennsylvania.

Susquehanna Upgrades Broadcom; Raises PT (BRCM)

Susquehanna reported on Tuesday that it has raised its rating on Broadcom Corporation (BRCM).

The firm has upgraded BRCM from “Neutral” to “Positive,” and has lifted the company’s price target from $33 to $35. This price target suggests a 23% upside from the stock’s current price of $26.91.

Analyst Chris Caso commented: “Our downgrade of BRCM in May was predicated on already high Street expectations on handsets and no notable improvement in networking to drive upside. We think expectations and the stock price have now been sufficiently reset ahead of what we expect to be catalysts in 2014 – including the iPhone 6 product cycle, potential improvement in networking and the impact from the recent Renesas acquisition. In addition, after several years of overspending on their handset initiatives, we think we are now closer to the point where the company either captures a return on that investment or is forced to moderate spending – either of which benefit profitability. We see the upcoming December analyst meeting as a potential intermediate catalyst.”

Broadcom shares were up 38 cents, or 1.41%, during pre-market trading Tuesday. The stock is down 19% YTD.

Hot Companies To Buy For 2014

Johnson Controls (NYSE: JCI  ) has stepped up its role in India.

On Tuesday, the auto parts manufacturer and self-proclaimed "global leader in automotive seat systems and components" announced that it has bought out local partner Tata Automotive Components' 50% interest in the companies' Tata Johnson Controls joint venture. The purchase -- whose price both parties agreed not to disclose -- gives Johnson control over 11 joint venture locations across India and a work force of 2,100.

Announcing the acquisition, Johnson Controls Automotive Experience India CEO Paul Chawla called India "an emerging market and part of Johnson Controls' global strategy for sustainable growth." Added Chawla, "We enjoyed our partnership with Tata AutoComp, and thank them for their support in making TJC a leading seating systems company in India. We are looking forward to building on the successes of the partnership." Johnson Controls has operated in India since 1995.

Hot Companies To Buy For 2014: pharmagene ord gbp0.05(ATD.L)

Asterand plc provides human tissue and human tissue-based research solutions to drug discovery scientists primarily in North America, the United Kingdom, and Japan. It offers human tissue samples, tissue derivatives, drug discovery services, and consulting services. The company also provides XpressBANK biobank that contains various specimens from a range of therapeutic areas. In addition, it offers custom isolations of specific cell lines and primary cells; custom designed tissue microarrays; and biofluids, including blood, serum, and plasma. Further, the company provides human tissue-based drug discovery research services comprising human gene expression in non-diseased and diseased tissues; human protein expression profiling; and human tissue-based and primary cell assays for metabolism and toxicity analysis. Additionally, it offers panel of human primary cell based disease systems that replicate the intricate cellular interactions present in inflammatory, autoimmune, re spiratory, and cardiovascular diseases through BioMAP platform; and ProCURE service, which collects human tissues and clinical data to meet research requirements within a range of disease categories. The company was founded in 2000 and is based in Royston, the United Kingdom.

Hot Companies To Buy For 2014: Nektar Therapeutics(NKTR)

Nektar Therapeutics, a clinical-stage biopharmaceutical company, engages in developing a pipeline of drug candidates that utilize its PEGylation and polymer conjugate technology platforms. The company?s product pipeline consists of drug candidates across various therapeutic areas, including oncology, pain, anti-infectives, anti-viral, and immunology. Its research and development activities involve small molecule drugs, peptides, and other potential biologic drug candidates. The company?s proprietary drug candidates in clinical development comprise NKTR-118, a peripheral opioid antagonist, which has completed Phase II clinical trail for the treatment of opioid-induced constipation; BAY41-6551 that has completed Phase II clinical trail to treat gram-negative pneumonias; NKTR-102, a topoisomerase I inhibitor-polymer conjugate, which is in Phase II clinical trail for multiple cancer indications, including breast, ovarian, and colorectal; and NKTR-105 that is in Phase I clinica l trail to treat solid tumors. Its preclinical products consists of NKTR-119 (Opioid/NKTR-118 combinations) for the treatment of pain; NKTR-181 (abuse deterrent, tamper-resistant opioid) to treat pain; NKTR-194 (non-scheduled opioid) for the treatment of mild to moderate pain; NKTR-171 (tricyclic antidepressant) to treat neuropathic pain; and NKTR-140 (protease inhibitor candidate) to treat HIV. The company has collaboration with Bayer Healthcare LLC to develop BAY41-6551 (NKTR-061, Amikacin Inhale), which is an inhaled solution of amikacin, an aminoglycoside antibiotic; and a license agreement with AstraZeneca AB for the development and commercialization of Oral NKTR-118 and NKTR-119. In addition, Nektar Therapeutics has various license, manufacturing, and supply agreements for its technology with biotechnology and pharmaceutical companies, such as Affymax, Amgen, Baxter, Roche, Merck, Pfizer, and UCB Pharma. The company was founded in 1990 and is headquartered in San Franc isco, California.

Hot Tech Stocks To Own For 2014: Stratus Properties Inc.(STRS)

Stratus Properties Inc. engages in the acquisition, development, management, operation, and sale of commercial, hotel, entertainment, and multi-family and single-family residential real estate properties located primarily in the Austin, Texas area. It operates the W Austin Hotel & Residences project located on a 2-acre city block in downtown Austin; and residential real estate properties, including developed, under development, and undeveloped properties in the Barton Creek community, the Circle C community and Lantana, and the condominium units at the W Austin Hotel & Residences project. The company also engages in the leasing of commercial properties comprising two office buildings at 7500 Rialto Boulevard; office and retail space at the W Austin Hotel & Residences project; and a retail building and a bank building in the Barton Creek Village, as well as two retail buildings, including a bank building and the Parkside Village project in the Circle C community. Stratus Pr operties Inc. was founded in 1992 and is headquartered in Austin, Texas.

Hot Companies To Buy For 2014: TICC Capital Corp.(TICC)

TICC Capital Corp., a business development company, operates as a closed-end, non-diversified management investment company. The firm invests in both public and private companies. It invests in secured and unsecured senior debt, subordinated debt, junior subordinated debt, preferred stock, and common stock. The firm primarily invests in debt and/or equity securities of technology-related companies that operate in the computer software, Internet, information technology infrastructure and services, media, telecommunications and telecommunications equipment, semiconductors, hardware, technology-enabled services, semiconductor capital equipment, medical device technology, diversified technology, and networking systems sectors. It concentrates its investments in companies having annual revenues of less than $200 million and a market capitalization or enterprise value of less than $300 million. The firm invests between $5 million and $30 million per transaction. It seeks to exit its investments within 7 years. It serves as the investment adviser to TICC. The company was formerly known as Technology Investment Capital Corp. and changed its name to TICC Capital Corp. in December 2007. TICC Capital Corp. was founded in 2003 and is headquartered in Greenwich, Connecticut.

Hot Companies To Buy For 2014: X-Rite Incorporated(XRIT)

X-Rite, Incorporated develops, manufactures, markets, and supports color solutions through measurement instrumentation systems, software, color standards, and services in the United States, Europe, and the Asia Pacific. Its measurement instrumentation systems include colorimeters utilized to measure printed colors on packages, labels, textiles, and other materials; spectrophotometers, which measure light at various points over the visible spectrum; densitometers that are instruments that measure optical or photographic density, compare such measurement to a reference standard, and signal the result to the operator of the instrument; spectrodensitometers, which combine the function of a densitometer with the functions of a colorimeter and a spectrophotometer; and sensitometers that are used to expose various types of photographic film for comparing with a reference standard. The company also provides software and databases that allow the users to collect and store color mea surement data, compare that data to established standards and databases, communicate color results, and formulate colors from a database. In addition, it offers standards product line comprising products for the communication and reproduction of color digitally or in print for establishing color standardization; and support services that provide customers, an access to color professional specialists, training, and technical support through color seminars, classroom workshops, on-site consulting, and interactive media development, as well as service repair operations. Further, the company provides retail paint matching systems for home centers, mass merchants, hardware stores, and paint retailers. It serves printing, packaging, photography, graphic design, video, automotive, paints, plastics, textiles, and dental and medical markets through sales personnel, independent sales representatives, and dealers. The company was founded in 1958 and is headquartered in Grand Rapids, Mi chigan.

Hot Companies To Buy For 2014: NF Energy Saving Corporation(NFEC)

NF Energy Saving Corporation, through its subsidiaries, engages in the energy technology business in the People?s Republic of China. It provides energy saving technology consulting, optimization design services, energy saving reconstruction of pipeline networks, and contractual energy management services for electric power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries. The company also manufactures and sells energy-saving flow control equipment, and intelligent flow control equipment. NF Energy Saving Corporation has a strategic cooperation agreement with GE Enterprise Development (Shanghai) Co. LTD. The company is based in Shenyang, the People?s Republic of China.

Hot Companies To Buy For 2014: Agilent Technologies Inc (A&J)

Agilent Technologies, Inc. (Agilent), incorporated on May 5, 1999, is a measurement company providing bio-analytical and electronic measurement solutions to the communications, electronics, life sciences and chemical analysis industries. During the fiscal year ended October 31, 2011 (fiscal 2011), it had three business segments: electronic measurement business, chemical analysis business and life sciences business. Its electronic measurement business addresses the communications, electronics and other industries. Agilent�� chemical analysis business focuses on the petrochemical, environmental, forensics and food safety industries. Its life sciences business focuses on the pharmaceutical, biotechnology, academic and Government, bio-agriculture and food safety industries. In addition to its three businesses, it conducts research through Agilent Technologies Laboratories (Agilent Labs). In fiscal 2011, the Company acquired A2 Technologies, Lab901 and Biocius Life Sciences Inc. On December 21, 2011, the Company acquired BioSystem Development business and P.V.R. s.r.l., a vacuum pump manufacturer. In February 2012, the Company acquired software solutions and technology for device-level modeling and validation from Accelicon Technologies. In June 2012, the Company acquired cancer diagnostics company, Dako. In August 2012, the Company acquired Aurora SFC Systems, Inc.

Electronic Measurement Business

The Company�� electronic measurement business provides electronic measurement instruments and systems, software design tools and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment, and microscopy products. Related services include start-up assistance, instrument productivity and application services and instrument calibration and repair. It also offers customization, consulting and optimization services throughout the customer's product lifecycle. It sells products and services applicable to a rang! e of communications networks and systems, including wireless communications and microwave networks, voice, broadband, data, and fiber optic networks. Test products include Electronic Design Automation (EDA) software, vector and signal analyzers, signal generators, vector network analyzers, one box testers, oscilloscopes, logic and protocol analyzers, and bit-error ratio testers.

The Company�� wireless communications and microwave network products include radio frequency and microwave test instruments and electronic design automation software tools. These products are required for the design and production of wireless network products, communications links, cellular handsets and base stations. It provides handheld products for the installation and maintenance of wireless networks. Its electronic design automation software tools and instruments are used by radio frequency integrated circuit design engineers to model, simulate and analyze communications product designs at the circuit and system levels.

The Company�� suite of fiber optic test products measure and analyze a range of optical and electrical parameters in fiber optic networks and their components. Components which can be tested with Agilent solutions include source lasers, optical amplifiers, filters and other passive components. Test products include optical component analyzers, optical power meters and optical spectrum analyzers. It sells the products into the general purpose test market, including general purpose instruments, modular instruments and test software, digital test products, semiconductor and board test solutions, electronics manufacturing test equipment, atomic force microscopes and radio frequency and network surveillance solutions. The Company�� general purpose products include spectrum analyzers, network analyzers, signal generators, logic analyzers, digitizing oscilloscopes, voltmeters, multimeters, frequency counters, bench and system power supplies, function generators and waveform synthesizers. Modular! instrume! nts and test software are used by the designers and manufacturers of electronic devices as the building blocks of systems that can be configured for a range of test applications.

The Company�� digital test products are used by research and development engineers across a range of industries to validate the function and performance of their digital product and system designs. These designs include a range of products from digital control circuits to high speed systems, such as computer servers and the gaming consoles. The test products offered include oscilloscopes, logic and serial protocol analyzers, logic-signal sources and data generators.

The Company�� semiconductor and board test solutions enable customers to develop and test semiconductors, test and inspect printed circuit boards, perform functional testing, and measure position and distance information to the sub-nanometer level. It is a supplier of parametric test instruments and systems used to examine semiconductor wafers during the manufacturing process. Its in-circuit test system helps identify quality defects, such as faulty or incorrect parts, that affect electrical performance. Its laser interferometer measurement systems provide precise position or distance information for dimensional measurements. Its atomic force microscopes (AFM) are imaging devices. An AFM allows researchers to observe and manipulate molecular and atomic level features. Its portfolio of AFM products provides customers with tools for a range of nanotechnology applications, including semiconductor, data storage, polymers, materials science and life science studies. The Company�� surveillance systems and subsystems are used by defense and government engineers and technicians to detect, locate and analyze signals of interest. The products offered include receivers for detecting radio frequency signals, probes for detecting wire line signals and software that enables the identification and analysis of these signals. Agilent's electronic measureme! nt custom! ers include contract manufacturers of electronic products, handset manufacturers and network equipment manufacturers who design, develop, manufacture and install network equipment, service providers who implement, maintain and manage communication networks and services, and companies who design, develop, and manufacture semiconductors and semiconductor lithography systems. Its customers use its products to conduct research and development, manufacture, install and maintain radio frequency, microwave frequency, digital, semiconductor, and optical products and systems and conduct nanotechnology research.

The Company competes with Aeroflex Incorporated, Anritsu Corporation, Ansys Corporation, EXFO Electro-Optical Engineering, Inc., National Instruments Corporation, Rohde & Schwartz GmbH & Co. KG, Spirent plc, Danaher Corporation, Bruker Corporation, LeCroy Corporation, Teradyne, Inc., Test Research Inc. and Zygo Corporation.

Chemical Analysis Business

The Company�� chemical analysis business provides application-focused solutions that include instruments, software, consumables and services that enable customers to identify, quantify and analyze the physical and chemical properties of substances and products. Its product categories in chemical analysis include gas chromatography (GC) systems, columns and components; gas chromatography mass spectrometry (GC-MS) systems; inductively coupled plasma mass spectrometry (ICP-MS) instruments; atomic absorption (AA) instruments; inductively coupled plasma optical emission spectrometry (ICP-OES) instruments; software and data systems; vacuum pumps and measurement technologies; services and support for its products. Agilent provides custom or standard analyzers configured for specific chemical analysis applications, such as detailed speciation of a complex hydrocarbon stream, calculation of gas calorific values in the field, or analysis of a new bio-fuel formulation. It also offers related software, accessories and consumable ! products ! for these and other similar instruments. Its MS products incorporate technologies for measuring mass, including single-quadrupole, triple-quadrupole, and ion trap mass spectrometers. It combines its mass spectrometers with other instruments to instruments, such as GC/MS, and ICP-MS. It also offers related software, accessories and consumable products for these and other similar instruments. The Company�� spectroscopy instruments include atomic absorption (AA) spectrometers, inductively coupled plasma-optical emissions spectrometers (ICP-OES), inductively coupled plasma-mass spectrometers (ICP-MS), fluorescence spectrophotometers, ultraviolet-visible (UV-Vis) spectrophotometers, Fourier Transform infrared (FT-IR) spectrophotometers, near-infrared (NIR) spectrophotometers, Raman spectrometers and sample automation products. It also offers related software, accessories and consumable products for these and other similar instruments.

The Company�� vacuum technologies products are used to create, control, measure and test vacuum environments in life science, industrial and scientific applications where clean and vacuum environments are needed. Products include a range of vacuum pumps, including diffusion, turbomolecular and ion getter; intermediate vacuum pumps, including rotary vane, sorption and dry scroll, vacuum instrumentation, including vacuum control instruments, sensor gauges and meters, and vacuum components, including valves, flanges and other mechanical hardware. Its products also include helium mass spectrometry and helium-sensing leak detection instruments used to identify and measure leaks in hermetic or vacuum environments. The Company offers a range of services, including an exchange and rebuild program, assistance with the design and integration of vacuum systems, applications support and training in basic and advanced vacuum technologies. The Company offers a range of consumable products, which support its technology platforms, including sample preparation consumables, suc! h as soli! d phase extraction (SPE) and filtration products, self manufactured GC and LC columns, chemical standards, and instrument replacement parts. Consumable products also include scientific instrument parts and supplies, such as filters and fittings for GC systems; xenon lamps and cuvettes for UV-Vis-NIR, fluorescence, FT-IR and Raman spectroscopy instruments; and graphite furnace tubes, hollow cathode lamps and specialized sample introduction glassware for its AA, ICP-OES and ICP-MS products.

The Company competes with Bruker Corporation, PerkinElmer Inc., Shimadzu Corporation and Thermo Fisher Scientific Inc.

Life Sciences Business

The Company�� life sciences business provides application-focused technologies and solutions, which include instruments, software, consumables and services. Its product categories include liquid chromatography, mass spectrometry, microarrays, polymerase chain reaction (PCR) instrumentation, bioreagents, electrophoresis, software and informatics, nuclear magnetic resonance (NMR) and magnetic resonance imaging (MRI) systems, and, consumables and services. The Agilent liquid chromatograph (LC) portfolio is modular in construction and can be configured as analytical and preparative systems. Agilent's liquid chromatography/ mass spectrometer (LC/MS) portfolio includes instruments built around five analyzer types, such as single quadrupole, triple quadrupole, ion trap, time-of-flight (TOF) and quadrupole time-of-flight (QTOF). It is a provider of microarray-based, genomics research solutions. It provides products for sequencing platforms. Its portfolio of PCR instrumentation, reagents and kits, coupled with its other products, such as microarrays and target enrichment systems for sequencing, provides a range of workflow solutions to customers in the genomics marketplace.

Agilent is a supplier of electrophoretic separation solutions. The 2100 Bioanalyzer analyzes biomolecules or cells in microfluidic networks of channels and wells etched i! nto glass! chips. The 3100 OFFGEL Fractionator resolves proteins or peptides by isoelectric point with liquid-phase recovery. It provides software for instrument control, data acquisition, data analysis, laboratory content and business process management, and informatics. With OpenLab, Agilent has open architecture, which enables capture, analyze, and share scientific data throughout the lab and across the enterprise. It offers a range of consumable products, which support its LC, and MS technology platforms. These consumable products include sample preparation products; self manufactured LC columns and instrument replacement parts, and consumable supplies to meet its customers' analysis needs. It offers a range of startup, operational, educational and compliance support services for measurement and data handling systems. Its support services include maintenance, troubleshooting, repair and training for all of its chemical and bioinstrumentation analysis hardware and software products.

The Company competes with Affymetrix Inc., Bruker Corp., Danaher Corporation, Illumina, Inc., Life Technologies Corp., Thermo Fisher Scientific Inc. and Waters Corp.

Hot Companies To Buy For 2014: Birner Dental Management Services Inc.(BDMS)

Birner Dental Management Services, Inc., a dental business service company, provides dental practice management services to dental practice networks in Colorado, New Mexico, and Arizona. The company offers business services to 64 dental practice offices that include 38 acquired offices and 26 internally developed ?de novo Offices?. Its affiliated dentist offices provide general dentistry services, including crowns and bridges, fillings, and aesthetic procedures, such as porcelain veneers and bleaching; cleanings and periodontal services, including root planning and scaling; and specialty dental services, such as orthodontics, oral surgery, pediatrics, endodontics, and periodontics at some of its offices. The company serves dentists, patients, and third-party payors. Birner Dental Management Services, Inc. was founded in 1995 and is headquartered in Denver, Colorado.

Tokyo's Winning Olympic Bid Will Add to Japan's Debt Headache

Top Blue Chip Companies To Invest In Right Now

AP By Gwynn Guilford Get ready for Tokyo 2020. The International Olympic Committee (IOC) evidently thought it better to go with safe instead of exotic but risky (Istanbul) or bargain-basement (Madrid, which pitched a "low financial investment" Olympics). It announced Tokyo's selection Saturday. Tokyo may be a safe option -- putting aside the risk of natural disaster and further issues with the Fukushima nuclear power plant, whose operators fear may be leaking contaminated water into the Pacific Ocean. But there's a real safety concern for Japan's fiscal stability. And though the economic stimulus that comes with hosting an Olympic Games could be positive, game preparations are also highly likely to exacerbate Japan's already massive debt problems. The cost of Tokyo's bid fell between $5 billion and $6 billion. That includes the construction of 11 new sporting venues and 10 temporary ones, at a cost of $3 billion. The Olympic village will cost another $1 billion, according to the IOC. The Tokyo government projects that the Games will generate $30 billion in economic benefits for Japan -- and that, it said, is a conservative estimate since it calculates only direct spending on the Olympics. One of the notions is that it will boost domestic consumption, helping wrest the country from a couple decades of debilitating deflation. So Tokyo's victory basically is license for the Japanese government to spend like crazy on infrastructure. You can see why Shinzo Abe, Japan's prime minister, put himself on the line to win the bid. An Olympics building bonanza is basically the second pillar of Abenomics -- fiscal stimulus (the first is monetary policy; the third is structural reform) -- on steroids. Japan doesn't need to dope its infrastructure investment when it already has $10.5 trillion in public debt. Equal to about 230% of its GDP these days, its debt-to-GDP ratio is the highest of all the developed countries in the world. And much of that debt was amassed from spending on wasteful infrastructure projects in the 1980s and 1990s.

LinkedIn Capital Raise Aims to Bolster Its Finances Rather Than Shareholder Gains

LinkedIn Corp. (NYSE: LNKD) has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a secondary offering of $1 billion in the company's Class A common stock. The underwriters have a 30-day option on an additional 15% of the number of shares in the offering. No per share price nor number of shares was specified.

According to the filing, LinkedIn plans to use the proceeds:

[T]o increase our financial flexibility and to further strengthen our balance sheet. We intend to use the net proceeds from the shares we are offering primarily for general corporate purposes, including working capital, further expansion of our product development and field sales organizations, international expansion, general administrative matters and for capital expenditures, including infrastructure. In addition, we may use a portion of the proceeds from this offering for strategic acquisitions of, or investments in, complementary businesses, technologies or other assets.

That's some war chest. The company reported more than $870 million in cash and short-term investments at the end of June and when receivables are tossed in, well, the total reaches beyond $1 billion.

Best Cheap Companies To Own In Right Now

Last year the company spent about $452 million on SG&A and another $260 million on R&D, and today's announced stock offering would indicate that the company expects these expenditures to rise even higher. The surprising thing is that investors have not rebelled — yet.

Shares are trading down in after-hours trading on Thursday at $241.30, off about 2% from the closing price of $246.13. The stock's 52-week range is $94.75 to $247.98.

Is GM’s Recovery For Real?

GM has come a long way since filing for Chapter 11 bankruptcy in 2009. After a shaky four years, including a government bailout and a new IPO, GM recently rejoined the S&P 500 in the beginning of June. With stiff competition from Ford (NYSE:F) and Toyota (NYSE:TM), can GM continue its impressive run? Let's use our CHEAT SHEET investing framework to decide whether GM is an OUTPERFORM, WAIT AND SEE, or STAY AWAY.

C = Catalysts for the Stock's Movement

GM's share price is up an impressive 21 percent this year. GM received a symbolic boost when it rejoined the S&P 500 at the beginning of the month. However, as the Fed reduces quantitative easing, a more 'risk on' environment could emerge, hurting new car sales. The end of easy money could mean limited upside for GM for the short-term, but what about for the long term?

Don’t Miss: GM Has Big Aspirations for the Chevy Bowtie

GM has established a strong presence in China owning 13 affiliated plants. The company recently announced that it broke ground on a $1.3 billion dollar Cadillac plant in Shanghai in order to meet rising Chinese luxury car demand. GM's strategy seems to be working as sales hit an all-time high in China last month. The company sold 252,942 vehicles in May, a 9.4 percent increase year-over-year.

Unfortunately, things in Europe aren't going so well for GM and haven't been for a while. The company has been unprofitable there for more than a decade, due to lack of demand for vehicles during the Great Recession and poor capacity planning and plant utilization. GM did reduce its quarter-over-quarter losses during the last quarter, with CEO Dan Akerson attributing this improvement to cost-cutting initiatives and relative success with new models.

You might also like: For the Next Mustang, Ford Looks to the Past

GM has made an impressive commitment to replace 90 percent of its existing vehicle fleet with new offerings by 2016. One of the earliest phases of this revamping process was the rollout of new full-size Chevrolet and GMC trucks this Wednesday. GM's CEO Dan Akerson was optimistic, noting "it's probably [GM's] best launch ever." It is important for GM that these vehicles receive positive reviews, as the company tries to repair relations with many Americans who were unhappy with the government's bailout of the automaker.

E = Earnings are Unpredictable Year over Year

GM's earnings growth has been unpredictable over the past five quarters. The most recent quarter showed a decline in EPS growth year-over-year as GM struggled in European and North American markets. Consistent growth will be difficult for GM to achieve over the next several quarters as it faced increased competition and uncertain demand in overseas markets. The new fleet of vehicles slated for release in the upcoming quarters will certainly help GM's revenue. Additionally, the "new GM" cost-cutting operation and better vehicle pricing should continue to increase operating margins.

	Q1 2013	Q4 2012	Q3 2012	Q2 2012	Q1 2012
Qtrly. EPS	$0.58	$1.326	$0.89	$0.90	$0.60
Qtrly. EPS YoY Growth	-3.33%	6.49%	-13.59%	-41.56%	-66.10%

T = Technicals are Neutral

GM closed Wednesday at $32.55, up 2.29 percent. The stock currently trades below its 50-day moving average of $33.24, but above its 200-day moving average of $29.64. GM is experiencing a long-term uptrend, but a shorter-term downtrend after a disappointing first quarter earnings report. The price movement in the last month has been slightly negative as evidenced by the share price trading below its 50-day moving average.

Conclusion

GM has really turned itself around over the last five years. The automaker looks poised for success in the North American and Chinese markets as it launches its new fleet of vehicles over the next few years. GM has finally fortified its balance sheet with a cash position of $17.68 per share. GM's future in Europe still remains questionable, however, and its disappointing results there have hurt both its earnings growth and its stock price. Until GM hits its stride in Europe, it may be in for a rocky road over the next few quarters. Additionally, the unwinding of quantitative easing raises doubt about the strength of future vehicle demand in North America. With that being said, GM's vehicle fleet looks promising and the company looks set to succeed in the long-term in the North American and Asian markets. For now, GM is an OUTPERFORM.

How to Save $20,000 for a Down Payment in Just 2 Years

Top 5 Casino Companies For 2014

Getty Images, Tetra images Making the move from renter to homeowner is challenging for nearly everyone, and the highest hurdle for most first-time buyers is saving enough money for a down payment. If your No. 1 priority in the next few years is to become a homeowner, financial experts say you'll likely need to make some aggressive moves to cut your spending, boost your income, or both. The National Association of Realtors reported that the national median home price in June 2013 was $199,900 (and prices are rising again). For the purposes of this article, we assume that your goal is to buy a house in two years with a 10 percent down payment of $20,000. To get started, set a timeline and break up your savings goals, suggests Anna Behnam, an Ameriprise financial advisor in Rockville, Md. To save $20,000 in two years, you'll need to save $833 a month for the next 24 months. "Create an account that will hold only savings designated for your new home," Behnam suggests. "This can help keep you organized and track your progress." Start Big If you're truly committed to buying a home and can handle some big changes in lifestyle, you could move in with family for a defined period of time. You could also move to a smaller apartment. "Going from a two-bedroom to a one-bedroom can drop your rent by 25 to 30 percent, depending on where you live," says Rob Jupille, president of RTJ Financial Management in Los Angeles. "If you have a spare room, take in a renter until you save what you need." Another possible lifestyle change is to bring in more income by working overtime if possible or taking on another job.

Timothy Murray, a certified financial planner and owner of Murray Financial in Chantilly, Va., suggests looking for a job doing something that interests you outside of your current career, such as working at a Lowe's or Home Depot if you're a home improvement enthusiast or want to learn more about how to take care of the home you plan to buy. "If your savings goal is aggressive, you may decide that you're willing to make large trade-offs to meet your goal," says Behnam. For a significant boost to your down-payment fund, consider more substantial cost-cutting and money-raising measures, such as selling your current car and trading down to a lower-cost vehicle. Small Steps That Add Up to Big Savings Finding other expenditures to trim requires creating a household budget to see where your money is going. Some of the easier expenses to reduce or eliminate include new clothes, shoes, and other stuff; daily expenses like your morning specialty coffee; monthly expenses like a Netflix subscription; and gas and parking costs (consider carpooling or take public transportation), Behnam says. "Keep in mind when you're in super-saver mode to ask yourself out loud, 'Do I need this or want it?' before you buy anything," says Behnam. "Shop in physical stores if possible (rather than online) and use physical cash rather than credit." Take a critical look at all of your expenditures -- gym memberships, vacations, entertainment -- to see where you can cut back to meet your savings goal. While you don't want to drain all the enjoyment out of your life, you can keep spending in check without sacrificing much. For example, if you like to go to restaurants with friends, Murray says, limit your meals out to one a week, and invite friends over for potlucks instead. Retirement Savings vs. Funding a Down Payment If you're contributing more to your 401(k) than the company will match, temporarily scale back your contribution to the company match for a couple of years and put that extra cash in your down payment fund, suggests Jupille. Scott Cramer, a financial planner and president of Cramer & Rauchegger in Maitland, Fla., says you might want to consider boosting your IRA contributions so you can use the funds for your down payment. "The first-home exemption rule allows individuals to use up to $10,000 in IRA funds toward the purchase of a first home without incurring the 10 percent early withdrawal penalty that applies to withdrawals made from a traditional IRA before age 59½," says Cramer. "If you're married, you and your spouse can each pull from your retirement accounts, giving you $20,000." Before you do this, though, be aware that even though the penalty is waived, you have to pay income taxes on the withdrawal. A Roth IRA withdrawal is considered a "qualified distribution" if you've had the account for at least five years, and Roth IRA withdrawals are tax-free, Cramer says. Where to Stash Your Cash When you're saving for a short-term goal, financial experts recommend you stick with a low-risk investment such as a high-yield savings account or a CD. A credit union or an online bank usually offers better interest rates on savings than most traditional banks. While it is tempting to invest your down-payment savings for a higher return, be aware that there's always a risk that an investment will lose money. Murray says that the rate of return on your down payment savings is less important than making sure the money is available when you need it. Whether your goal is to buy a house or meet some other financial obligation, you'll need discipline and an aggressive savings plan to achieve it. But following the savings tips above will help put your goal within reach.

Specter of Fed Chairman Summers Yields Pessimism, Uncertainty

Markets don’t like Summers — not the doldrums, the man.

Add another to the long list of individuals and organizations that haven’t warmed to Larry Summers (left). The economist/college president/former Treasury secretary/alleged caveman appears to be outpacing Federal Reserve Vice Chairwoman Janet Yellen in a bid to replace Ben Bernanke as chairman.

And the news it isn’t helping ongoing efforts to stimulate the economy, with The New York Times reporting on Tuesday that some jittery analysts are betting that a Summers nomination could lead to slower economic growth, less job creation and higher interest rates.

The unease is the product of a little information and a lot of speculation, since Summers has said little about monetary policy in recent years, according to the Times. Investors are left parsing a handful of comments in which, the paper says, “he has expressed some doubts on the benefits and concern about the consequences of the Fed’s policies.”

“People don’t know what Larry might do,” PIMCO chief Mohamed El-Erian told the paper. “There’s a lack of a lot of information on Larry’s views. We don’t have enough information to make an assessment, just some second- and thirdhand accounts.”

Yellen has long been thought the likely successor due to her qualifications, as well the fact she would be the first female fed chief in an ongoing political era of firsts.

“Yellen does not have much managerial experience, which you need when herding the cats on the FOMC,” Merk Funds’ president and chief investment officer Axel Merk told ThinkAdvisor in July. “She did, however, gain kudos from the press when they recently released the transcripts of the 2007 meeting in which she pretty much predicted everything that happened in 2008.”

Calling Summers the greatest debater he’s ever met, Merk (and others) noted the “mark of scandal” for comments made while president of Harvard about women’s suitability for the higher echelons of science.

“Critics will ask why President Obama chose this ‘sexist’ over Yellen, even though Yellen was obviously qualified,” Merk concluded.

The Times concludes that the sense of uncertainty in a Summers chairmanship is heightened by the fact that “as many as five of the Fed’s seven governors may be replaced in the next year.”

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Check out Axel Merk Predicts Japan as Next Crisis, Yellen as Next Fed Chief on ThinkAdvisor.

rVue Holdings, Inc. Reports 2012 Financial Results (OTCMKTS:RVUE, OTCMKTS:CLNO)

rVue Holdings, Inc. (RVUE)

Today, RVUE has shed (-0.25%) 0.000 at $.199 with 5,000 shares in play thus far (ref. google finance Delayed: 9:39AM EDT July 17, 2013), but don't let this get you down.

rVue Holdings, Inc. previously reported its financial results for the full year ended December 31, 2012.

Summary Results for the Full Year of 2012: Total revenue was $602,363 for fiscal 2012; down slightly from $643,483 in the prior year. Core Fees: This is the focus of our business and source of future growth. Core revenue for the years ended December 31, 2012 and 2011 were, $197,444 and $203,276, respectively.
Non-Core Fees: For the years ended December 31, 2012 and 2011 were $404,919 and $440,207, respectively. The decline was due to the end of a management relationship with Auto Nation. This trend will continue in 2013 as we focus more resources on core business efforts. In addition the Mattress Firm merged with Mattress Giant and we respectfully agree not to renew for 2013 (this represented approximately $230,000 in revenue).

rVue Holdings, Inc. (RVUE) 5 day chart:

Cleantech Transit, Inc. (CLNO)

Cleantech Transit, Inc. (OTCMKTS:CLNO) (www.cleantechtransit.net ) through its Discovery Carbon subsidiary, develops emissions offset strategies for companies, municipalities, and countries. Today, CLNO has shed (+11.11%) down -0.025 at $.200 with 580,687 shares in play thus far (ref. google finance Delayed: 1:06PM EDT July 17, 2013), but don't let this get you down.

CLNO's daily range is at ($.23 – $.1615) thus far and currently at $.200 would be considered a (+18081.81%) gain above the 52 wk low of $.0011. The stock is up +0.20   ( +11664.71%) since the concerning dates of January 18, 2013 – July 17, 2013. +11664.71% is the 6 month high and rightly so.

Cleantech Transit, Inc. (CLNO ) 5 day chart:

SEC Charges SAC Capital’s Cohen

The Securities and Exchange Commission levied civil charges Friday against hedge fund advisor Steven Cohen, founder of SAC Capital Advisors, for failing to supervise two senior employees and prevent them from insider trading under his watch.

The SEC’s Division of Enforcement says Cohen received “highly suspicious information” that should have caused any reasonable hedge fund manager to investigate the basis for trades made by two portfolio managers who reported to him — Mathew Martoma and Michael Steinberg.

Cohen “ignored the red flags and allowed Martoma and Steinberg to execute the trades” in 2008 in two pharmaceutical companies as well as Dell, the SEC says. “Instead of scrutinizing their conduct, Cohen praised Steinberg for his role in the suspicious trading and rewarded Martoma with a $9 million bonus for his work.”

Cohen’s hedge funds earned profits and avoided losses of more than $275 million as a result of the illegal trades, the SEC says.

The SEC’s Enforcement Division is seeking to bar Cohen from overseeing investor funds. His firm has already agreed to pay more than $615 million his firm has already agreed to pay for the alleged insider trading.

After learning about red flags indicating potential insider trading by his employees, Cohen allegedly failed to follow up to prevent violations of the law.

According to the SEC’s order instituting administrative proceedings against Cohen, portfolio managers Martoma and Steinberg obtained material nonpublic information about publicly traded companies in 2008, and they traded on the basis of that information.

The SEC charged Martoma, of the SAC affiliate CR Intrinsic, and the doctor who tipped him with insider trading last year, slapping the affiliate with a record fine of more than $600 million.

Steinberg, a portfolio manager at Sigma Capital Management, was charged earlier this year. Sigma Capital agreed to pay nearly $14 million to settle the charges.

The SEC says that its investigation found that in his supervisory role, Cohen oversaw trading by Martoma and Steinberg and required them to update him on their stock trading and convey the reasons for their trades. “On at least two separate occasions in 2008, they provided information to Cohen indicating their potential access to inside information to support their trading. However, Cohen stood by on both occasions instead of ascertaining whether insider trading was taking place.”

According to the SEC’s order, “Cohen watched Martoma build a massive long position in the stock of two pharmaceutical companies — Elan and Wyeth — based on their joint clinical trial of a drug with the potential to treat Alzheimer’s disease. Cohen allowed this despite repeated e-mails and instant messages to Cohen from other analysts at CR Intrinsic advocating against it.”

The analysts, the SEC says, “questioned whether Martoma possessed undisclosed data on the results of the trial. Cohen responded by saying it was ‘tough’ to know whether Martoma knew something, but that he would follow Martoma’s advice because he was ‘closer to it than you.’”