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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (23671)	2/16/2005 9:20:28 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

I believe ild's numbers are correct. you have to use the fully diluted shares number from each report. the difference is the change in shares for the qtr. you have to assume the only shares they issued were for options (reasonable). They bought back 17 million shares They still ended up with 16 million LESS shares. Where did those other 16 million shares go if not for purchases or options? I could not find any relevant purchases only cash ones. IMO there are 33 million shares to be accounted for. If they bought back the number of opotions granted then there should be the same number of shares. Where did the other 16 million shares go if not for options? Mish

To: orkrious who wrote (23671)	2/16/2005 9:24:49 AM
From: mishedlo	Respond to of 116555

Forex - Sterling lower as BoE report comes in less hawkish than expected Wednesday, February 16, 2005 1:43:33 PM afxpress.com LONDON (AFX) - The pound came under selling pressure as markets reacted in disappointment to the Bank of England's rather balanced pronouncements on the outlook for inflation Markets had been expecting a more hawkish set of projections The central bank revised up its forecast for inflation from the previous estimate made in November but tempered the adjustment by adding that the risks are skewed towards smaller-than-expected rises in prices The neutral report forced markets to scale back rate-hike expectations. "Given the hawkish shift in market expectations recently, this will force participants to reconsider just how likely an interest rate hike really is," said Daragh Maher at CALYON Accordingly, the UK bond market rallied while the pound suffered falls But the event is predicted to fade into the background as markets prepare for US Fed chairman Alan Greenspan's much awaited testimony to Congress at 1500 GMT today The occasion will offer Greenspan the opportunity to clarify his views on the Bush administration's budget projections and the outlook for the US current account and fiscal deficits Earlier in the month, Greenspan conveyed a fairly optimistic view that the deficits can be narrowed, but market doubts have been many. In fact, some market watchers believe Greenspan's comments then were meant particularly to avert a dollar sell off Clyde Wardle at HSBC Bank USA said Greenspan may highlight that the US rate hikes since last June signal a stance closer to neutrality -- where policy is no longer accommodative "But the dollar's reaction will be dependent upon the impact the speech has on the bond market," said Wardle Elsewhere, the yen stayed broadly weaker after news that the Japanese economy is technically in recession The Japanese Cabinet Office reported that the Japanese economic activity fell 0.1 pct in the three months to December, or at an annualised rate of 0.5 pct. To make matters worse, July-September GDP was revised down to show a 0.3 pct fall from the previous estimate of a 0.1 pct rise.