The firm Stern Agee begins coverage of the title Fellow of International Business Machines (IBM) with a buy recommendation supported a target of 230 USD, implying a potential yield of 19% over current of about 193 USD.

Such a target of 230 USD is based on a multiple price / earnings ratio of only 13.5 times earnings per share of 17.00 USD expected for fiscal 2013. The analyst Shaw Wu of Stern Agee also expressed the view that the goal of IBM to deliver earnings per share of $ 20.00 in 2015 remains in the realm of possibility.

Last November, the well-known investor Warren Buffett announced it had acquired 5.5% of the shares of computer giant has accumulated its position since March 2011. This online portfolio is equivalent to 64 million shares, and is a total investment of 10.7 billion USD, according to a unit price of about $ 170 share.

At the end of October 2011, International Business Machines (IBM) had announced an increase in its share buyback program for cancellation, mentioning provide a new authorization request to the Board to this effect in April 2012. Indeed, Warren Buffett said to appreciate the fact that the company as much money back to shareholders.

The market capitalization of software giant now stands at nearly 224 billion USD. The share price has traded in a range between $ 151.71 and $ 194.90 US US in the last year

Last August, The New York Post quoted two sources familiar with the case which the game publisher Zynga wanted to delay its IPO. But, Reuters and Business Insider reported that the date would be between 17 and 24 November and they were correct.

Last May, Business Insider reported that Zynga could already opt for a quick introduction on the stock market, so to benefit from increased demand for shares of LinkedIn and Yandex. Meanwhile, Bloomberg noted that a proportion of less than 10% of the Zynga stock could be offered at the initial public offering. The popular game publisher therefore provide only a small percentage of its ownership to investors, thus offering the advantage of retaining control over his destiny, while creating a scarcity effect sufficient to blow its stock price.

Of through this highly anticipated IPO, leaders Zynga seeking funding of between 1.5 billion to 2 billion USD, for a value estimated at 15 to 20 billion USD.

However, a number of risks on the profitability of the company. Thus, a deterioration of business relationships with Facebook could generate significant revenue loss. In addition, a small percentage of players account for the majority of group revenue. Bloomberg points to a low percentage of active players (1%) were responsible for the majority of group revenue, a significant proportion of anywhere between 25% to 50%

While European markets take a break today after new highs at the start of session, the Dow Jones is expected to open slightly lower than 0.1% this afternoon. Operators should therefore opt for caution before the President’s speech at the Federal Reserve, even if the statistics of the day are a little better than expected. The weekly jobless claims came out at 367K while the market waited for 373K and productivity increased by 0.7% while the consensus is 1%.
DOW JONES index finished the session up 0.66% at 12,716 points.

Technically, an upward bias is currently privileged Hourly Data above 12,670 points, crossing of moving averages 20 and 50 hours. In the very short term, then monitor the output of 12670/12780 points to act in one way or the other. A top out of this range would indeed require the rallying points 12830/12875 fast. In contrast, under the 12,670 points, there should be the beginning of a consolidation towards 12,560 points and 12,475 points.

Futures prices this morning have slightly reduced their lead to 14:30 after the release of the ADP survey in the private sector below expectations. 170K jobs were created while the consensus is 189K. At 16h, will still be released the ISM manufacturing index and construction spending, and oil stocks at 16.30.
The U.S. index that finished down slightly from 0.16% to 12,632 points yesterday, is now expected to rise 0.5%.

Technically, the DOW JONES is horizontal consolidation phase for several sessions within the trading range 12560/12710 points. A top out of the zone of indecision would require buy-fast 12,760 points and 12,830 points. In contrast, under the 12,560 points, we can probably expect a downward acceleration with 12,475 points and 12,315 points in sight.

U.S. markets opened up Tuesday after a positive start of earnings season in the U.S. with prospects looking better than expected for Alcoa.

A few minutes before the opening, the future contract on the S & P 500 13.25 points to 1288.75 wins points, while Nasdaq 100 Future takes 23 points to 2369.75 points.

The scores posted all over Europe (+1% to +2.8%) also contribute to the climate of optimism that moved to New York.

Alcoa stock price jumped more than 3% in pre-market quotes. The aluminum giant reported on last night of a loss on the quarter, mainly due to restructuring, and rather reassuring outlook for the coming year.

The group estimated that global demand for aluminum is expected to grow 7% throughout the year, following growth of 12% in 2011.

Tiffany is however expected to decline by 8% after the downward revision of its earnings estimates for the full year ending.

Eastman Kodak will reduce the number of branches to two against three above, to accelerate its shift to digital, return to profitability and create value for its shareholders.

The timing statistics remain scarce today, with wholesale inventories for November, expected up 0.5% on average, after rising by 1.6% in October.

Europe will once again decide in how Wall Street will change this week, culminating in a European summit expected to make a definitive solution to the debt crisis that has shaken the euro area for nearly two years.

Last week, the U.S. stock market recorded its best performance since March 2009 in favor of such hopes for this crisis finally resolved.

If all goes according to plan concocted by Paris and Berlin, the EU has indeed made a big step towards a union budget Friday night, with agreement on a change of European treaties including greater fiscal discipline of the 17 countries the euro area.

Previously, according to this ideal scenario, the European Central Bank (ECB) will be on Thursday once again lowered its interest rates to avoid a relapse into recession and to give some air to banks experiencing difficulties in refinance.

But this happy outcome to the crisis is far from certain as Berlin and Paris still differ on the proper role of the ECB and how to control the budgets of the countries in the euro area.

“Next week everyone will be focused on the summit on Friday. But do not forget that we are already at the highest level since the fifteenth (early) the crisis in the euro area. Each time, stakeholders enthusiastic market before maturity and after … it’s the disappointment, “said Ken Polcari, managing director at ICAP Equities.

Wall Street has evolved sawtooth since the beginning of the fall at the discretion of the evolution of the crisis in Europe.

While the S & P 500 benchmark index fund managers, rebounded by 7.4% last week, volatility remains high due to the sensitivity of investors to any bad news from Europe.

But the predominant feeling is that European leaders have taken the measure of the crisis.

US Makets have suffered for the second straight session of a heavy correction on the eve of triple witchng. This decrease was inspired by the fear of contamination of the European debt crisis to Wall Street.

A more credible scenario that rates have greatly strained throughout Europe (except France, where the ‘spread’ with Germany fell by 30pts-base after setting a record 200 bps).

The correction action was accompanied by a relapse of -3.7% of the price per barrel to $ 98.75.
Oil has been affected by the publication of an index ‘Philly FED’ (activity in the Philadelphia area) in unexpected contraction of 8.7 to 3.6 this month, against a consensus of 9 expected by economists .

With a wave of redemptions of short, indices resumed US 0.3% over the last 2 minutes of the session and 0.5% in the last quarter of an hour. Fortunately, because if Wall Street would have posted an overall loss greater than -2%. The Dow Jones lost to 9:45 p.m. 220Pts not yielded more than 135 Quote.The ‘S & P fell by -1.7% (instead of -2.2% to 9:30 p.m.) but does not preserve the very important support 1.220Pts and the Nasdaq lost -1.95% in 2588 (against 2.576Pts to 7:30 p.m.). The Nasdaq Composite was down significantly the MM100 (2.615Pts, a level that coincides with the former floor of June 17) and even the MM50 (2.590Pts).

The S & P 500 designs over the past 3 weeks a threefold decline in the top 1.285/1.275/1.265Pts: the breaking of the MM100 (1.225Pts) followed by a slide in 1.219Pts (formerly Zenith 1 and September 16) a valid clearly distressing scenario.

While some Chartists believe that the sinking of the ‘key levels’ mentioned above is the line thickness, do not forget that without the recent rebound in 2 minutes already mentioned, the signals would bear suffered ‘no ambiguity.

Wall Street gained 2% after 45 minutes of opening, 2.2% from the first hour, but after this initial acceleration, nothing! It’s like Wall Street froze: indices fluctuated within a range of 0.3% amplitude for 6 hours. Such perfection of lateral consolidation is only obtained with the help of algorithmic robots.

The goal was set at the opening (to ‘stick’ to the European indices) and then it was done so they do not let go of their initial advantage. This is made much easier now that operators are used to seeing robots operate: once it becomes clear that they take control of the trend (the border with the outright manipulation of the courses is very thin ), using as it does no one becomes clear that the market will go nowhere.

Operators, however, were surprised by the acceleration occurred shortly after 3:55 p.m.: it was caused by an unexpected rise in the index of consumer confidence in Michigan that emerged sharply higher in November 64 (against 61 expected), despite sluggish growth, a sluggish job market and house prices taped to the floor.
In initial increase 1.1%, the Dow gained rapidly in the double … before leveling off: he won the final 2.2% to 1.4% and 12.150Pts the past week.

GE has its origins in the businesses founded by the great inventor Thomas Edison. In 1890, Edison decided to incorporate his various interests under the Edison General Electric. On the other hand, Charles Coffin, the leader of the Thomson-Houston Electric Company, acquired key patents by taking over the company’s competitors. Two years after, Edison’s General Electric of Schenectady and Coffin’s Thomson-Houston Electric Company of Lynn underwent a merger, leading to the formation of GE as the world knows today. Subsequently, the Canadian counterpart of the conglomerate, known as Canadian General Electric, was also formed.

Since 1896, GE stock price today is listed in the Dow Jones Industrial Average. It was one of the first 12 companies to make it to the list. Due to effective management and successful growth, GE has maintained its place in the Dow index even though the 11 other originals have disappeared. The Dow index has been documenting GE stock price since 1896.

Despite being profitable, GE has undergone fire because of its contribution to pollution. In 2000, the Political Economy Research Institute stated that the corporation is the 4th largest corporate contributor to air pollution in the U.S. The conglomerate will have to institute the necessary environmental measures to respond to this information and to avoid adverse effects on GE stock price.

Given the density of the news of the day and the outbreak of the Eurostoxx 50, the US index scores have nothing shocking … the entire financial community celebrates the abandonment of the proposed referendum George Papandreou and his probable resignation in case of failure in its attempt to gain the trust of the Greek Parliament tomorrow.

But better not to ask after Papandreou, or wonder how Greece will manage to meet its financial commitments (including a literally explosive social climate and a referendum on membership of the euro zone could be be calm).

The decline 25pts basic rate by the ECB seems also good news … but it was passed unanimously by the members of the ECB about the prospects of recession in Europe in the second half of 2011 (and 2012 does not look shiny).

Moreover, if the ‘G-20′ mobilize all its efforts to prevent contagion of the crisis of sovereign debt to Italy, the word ‘recovery’ is conspicuously absent from the debate: the austerity and recession appear to be part the fate of 4 to 6 quarters ahead.

Wall Street has hardly been able to rely on the statistics of the day to justify an increase of 2% of US clues as latest figures published in the United States in the afternoon are contradictory.

The wave of doubts yesterday regained the lead on the financial markets has not spared the oil that the reflux continued this afternoon. To 13 hours, a barrel of Brent North Sea available in December retroceding 0.7% to 109.4 U.S. dollars when the WTI folded with the same maturity from 0.5% to 86.1 million.

The price of black gold is currently impacted by two main factors. From a technical point of view, the recovery of the dollar, from a high of 1.3914 yesterday in the euro dollar 1.3657 this morning, playing against the price of a barrel. The dollar is actually its unique currency trading, and in case of major currencies strengthening against the competitors, the price of oil tends to fall much, and vice versa.

Furthermore, the optimistic sentiment that prevailed in recent weeks on all financial markets has given way to doubts, while a European summit is expected this weekend. Investor caution is also based on the slowdown of the Chinese economy in the third quarter to 9.1% annualized rate, a rate that did not meet analysts’ projections.

Yesterday, analysts at BofA Merrill Lynch Global Research indicated, however, build, under the fourth quarter, on a barrel of Brent at $ 102 and WTI at $ 88. ‘In the case of a mild global recession, Brent could go under $ 80 before recovering with the likely closure of the valve by OPEC’, says the research note.

But the recession should not last and in 2012, the Brent should be treated on average 114 dollars a barrel, and 102 dollars for WTI. During the next six months, analysts predict that Brent will vary between 90 and 115 dollars, an average of 103 dollars.

The stocks of petroleum products that the U.S. Energy Information Agency (EIA) U.S. release tomorrow will be one of the highlights of the week oil. The consensus currently up more than one million barrels of crude inventories, but declines similar to those of gasoline and distillates (diesel and heating oil).