| Popular Rent Laws Extended; Nobody Happy |
[24 Jun 2011|05:13pm] |
Indeed, we can't believe it's over. This Rent Law Saga will certainly go down in the history books (for what, we're not entirely sure), but Gov. Cuomo and state legislators arrived on an agreement to extend the city's rent laws. As previously speculated, the threshold to deregulate an apartment is moved up to $2,500 from $2,000 a month and yearly income for tenants is moved up to $200,000 from $175,000. In addition, the amount a landlord has to invest in renovating an apartment will go up significantly. In the soon-to-be past a landlord must invest $40 in renovations for every $1 rent increase. That number will be going up to $60.
Sounds like rent regulation activists should be pretty happy about this outcome. Obviously, they're not.
Michael McKee, the treasurer of the Tenants Political Action Committee says "Governor Cuomo has been telling people for months that the big difference between 1997 and now is that George Pataki is not the governor and that he is a strong Democrat and that he is going to deliver real rent reform. This is not real rent reform. This is continuing the phase-out and elimination of the entire rent regulation system in the downstate region.” Sucks for the democratic lawmakers to hear that, because they've pretty much set themselves up for having to pass a pretty unpopular— at least among democrats— property tax cap. But that's a divisive battle for another day.
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| Most popular stock searches for June 23 - (NYSE: BMY), (NYSE: DFS), (NASDAQ: FLOW), (NYSE: LEN), (NY |
[24 Jun 2011|05:19pm] |
The most popular stocks searched on Google Finance for June 23 are Bristol Myers Squibb Co, Discover Financial Services, Flow International Corporation, Lennar Corporation, and Red Hat, Inc. These companies may be the most popular because of upcoming earnings, breaking news, extreme price movements, or other attention grabbing activities. Pay attention to these companies as they may have some hype that can create volatility which is great for trading.
Shares of Bristol Myers Squibb Co. (NYSE: BMY) traded higher by 5.62% or $1.56/share to $29.30. In the past year, the shares have traded as low as $22.31 and as high as $28.99. On average, 11404300 shares of BMY exchange hands on a given day and today's volume is recorded at 25135038. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $28.25 area where the stock will likely see buying pressure.
Shares of Discover Financial Services (NYSE: DFS) traded higher by 1.27% or $0.3/share to $23.89. In the past year, the shares have traded as low as $12.11 and as high as $25.76. On average, 5912790 shares of DFS exchange hands on a given day and today's volume is recorded at 7858513. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $23.83 area where the stock will likely see buying pressure.
Shares of Flow International Corporation (NASDAQ: FLOW) fell by 19.26% or $-0.7801/share to $3.27. In the past year, the shares have traded as low as $2.03 and as high as $4.72. On average, 178115 shares of FLOW exchange hands on a given day and today's volume is recorded at 2267370. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $3.80 area but be careful because the stock may face selling pressure at this level.
Shares of Lennar Corporation (NYSE: LEN) traded higher by 1.88% or $0.34/share to $18.44. In the past year, the shares have traded as low as $11.93 and as high as $21.54. On average, 3989540 shares of LEN exchange hands on a given day and today's volume is recorded at 5754016. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $18.87 represents resistance and the 50-day moving average of $17.83 would be an area of support.
Shares of Red Hat, Inc. (NYSE: RHT) traded higher by 3.43% or $1.5/share to $45.22. In the past year, the shares have traded as low as $27.82 and as high as $49.00. On average, 2265380 shares of RHT exchange hands on a given day and today's volume is recorded at 7379360. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $44.4026 area.
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