Friday, July 3, 2015

Financial Planning Weekend Update - July 3, 2015

That wasn't much fun. The spreadsheet looks horrible again, but of course I'm in this for income from dividends and option premium. As long as we're bouncing at the bottom of the S&P's range I'll be looking at expanding a couple positions in two weeks. 


US Markets drop 2% or so in the US on Grexit worries. Scary, but all that really happened is the S&P fell to the bottom of it's 3 month range.


S&P Futures indicated a modestly positive open of about 0.7%

EMR announced a September 30 spin off of its Network Power business as a separate company and that it will "explore other strategic actions". It was bid up as much as $1.75 pre-market.

This will be especially interesting because I'll have the opportunity to split my model into "keep 'em" and "sell 'em" versions. The implications for options will also be interesting. The transaction is expected to be complete by September 30. Assuming that is the closing date, if I write calls on my EMR position on September 21 (as I expect to) I'll have some decisions to make depending on whether the new companies either combined or separately still meet my portfolio requirements.

GE announced the sale of its European private equity business for $2.2 billion


Pretty good up-ish day as people realized the Greek business is probably going to get worked out.


Some fairly weak and worrisome job and economic numbers were released today since Friday's a holiday. The markets started up but drifted negative by mid-day. Not surprising; no one wants to get caught too long (or short) over a long weekend with the Greek business unresolved. 

GE runs into some anti-trust issues with selling it's appliance division to Electrolux. Seems the combined entity would have over 50% of the market appliance market. The Alstom deal in Europe is still tied up with regulators as well.


For us office types this is the Independence Day day off. Markets closed. Whew!

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