Global economy woes shake markets

Japanese shares felt the force of the economic uncertainty

Fears about a global economic slowdown, heightened by worsening US job figures, have continued to undermine stock markets around the world.

London's FTSE 100 index lost 2.3% - taking its weekly decline to 7% - its biggest since July 2002.

Markets in Paris and Frankfurt fell by 2.5% as economy concerns spread.

On Wall Street the Dow Jones index clawed back early losses to edge higher despite figures showing the US economy shed 84,000 jobs last month.

But the benchmark US index still had its worst week since May.

Earlier, Japan's main share index fell nearly 3% while markets in Hong Kong, China, Australia and India all slid 2%.

'Ugly' data

The US labor market figures - which showed the unemployment rate rising to 6.1% - were a further jolt to investors who have had to swallow a slew of poor economic data in recent days.

Economists had been expecting 75,000 jobs to be lost while the government also revised upwards.

"This was an ugly number that pretty much confirms that our economy continues to trend downward," said Jack Ablin, chief investment officer of Harris Private Bank.

"This just knocks the legs out of any hope of seeing much economic improvement right now."

'Uncertainty'

Amid the uncertainty, few investors are willing to buy Masayuki Otani, Securities Japan

The FTSE 100 closed down 2.3% at 5,240.70 points. The last time it lost so much value in a week was more than six years ago in the wake of financial scandals such as Enron and WorldCom.

Markets in Paris and Frankfurt continued their recent downward trend, both the Cac-40 index and the Dax-30 dropping about 2.5%.

The Dow Jones index, which lost 3% on Thursday, rose 32.73 points, or 0.3% to 11,220.96, but still ended down 2.8% on the week.

"Given the fact we were down so much yesterday we're seeing a bit of a reflex rally with investors wanting to take advantages of some of the bargains," said Bucky Hellwig, senior vice president at Morgan Asset Management.

The Nasdaq index slipped 3.16 points, or 0.1% to 2,255.88, ending the week 4.7% lower.

Earlier Japan's benchmark Nikkei index fell 361.54 points to 12,196.12 amid a widespread sell-off of shares in Asia.

The Hang Seng index fell more than 3% in Hong Kong while markets also fell sharply in China, Australia and India.

"Amid the uncertainty, few investors are willing to buy," said Masayuki, Otani, chief market analyst at Securities Japan.

"Several bad things happened at once," he added, explaining the fall.

Gloom

Worries about inflation have prevented central banks in Europe from cutting interest rates to help forestall a slowdown.

But analysts believe this could change soon with economic forecasts across Europe looking increasingly gloomy.

The European Central Bank cut its 2009 growth forecast from 1.5% to 1.2% on Thursday while the UK economy stalled in the second quarter.

In a separate development, the Russian rouble fell against the dollar a day after Russia's central bank intervened to support the currency amid concerns about a flight of foreign capital after the conflict with Georgia.

The central bank sold up to $4bn in reserves, the Financial Times reported, after the rouble slipped to its lowest level since February 2007.

Today we saw a continuation of the slide in oil prices as The Labor Department said the economy lost jobs in August for the eighth consecutive month, and at a faster-than-expected pace. The unemployment rate spiked to 6.1 percent from 5.7 percent in July, above the 5.8 percent rate that many analysts forecast. So far this year job losses totaled 605,000. Oil prices sank below $106 a barrel Friday as a jump in the U.S. unemployment rate signaled to traders that Americans might keep scaling back their energy use to save money. "There's been a terrific amount of growing concern about the outlook for demand globally" said John Kilduff, senior vice president of risk management at MFGlobal LLC. "Today's employment report indeed emboldened that concern."

Light, sweet crude for October delivery fell $1.93 to $105.96 a barrel in afternoon trading on the New York Mercantile Exchange, after falling to $105.1, its lowest trading level since early  of April. Since surging to a record $147.26 a barrel on July 11, crude has dropped by over $40( or more than 27 percent)

What could possibly stanch the drop is a cutback in production?? Investors are waiting to see if OPEC decides to restrict oil output at its upcoming meeting next week in Vienna in response to the two-month plunge in prices.

With the dollar on the rebound, many analysts say even a production cutback could prove ineffectual in boosting oil prices.The dollar weakened modestly against the euro and pound on Friday after the employment report but rose against the yen. The dollar's recent comeback has indeed helped accelerate oil's price decline. Commodities were bought by many funds to hedge against inflation and weakness in the U.S. currency, so when the dollar rebounded funds unwound those hedges, thus driving commodities prices lower. The jump in the dollar and the decline in oil has also been driven by signs of economic weakness in developing countries around the world, particularly those in Western Europe.

U.S Mortgage Foreclosures & Delinquencies Reach High

Foreclosures accelerated to the fastest pace in nearly  three decades during the second quarter as interest rates increased and home values fell - prompting more Americans to walk away from homes they couldn't refinance or sell.

New foreclosures increased to 1.19 percent, rising above 1 % for the first time in the survey's 29 years, the Mortgage Bankers Association said in a report today. The total inventory of homes in foreclosure reached 2.75%, almost tripling since the five-year housing boom ended in late 2005. The share of loans with one or more payments overdue rose to a seasonally adjusted 6.41 percent of all mortgages, an all time high, from 6.35 percent in the first quarter.

Foreclosures started on prime mortgages rose to 0.67 percent from 0.54 percent and the foreclosure inventory increased to 1.42% from 1.22 %, the report said. The share of seriously delinquent prime mortgages was 2.35 %, up from 1.99 % The Fed probably will keep the rate level for the next  several months, according to the price of Fed funds futures. There's an 81 % chance of no change at the Sept. 16 meeting and a 75% chance of no action at the Oct. 29 meeting, they indicate.

Prime Mortgages

The share of new foreclosures on prime ARMs was 1.82%, triple the 0.58 % in the year earlier quarter, and the total foreclosure inventory was 4.33 percent, up from 1.29 percent, the report said. The share of seriously delinquent prime ARMs was 6.78%, up from 2.02 percent a year ago. New foreclosures on subprime loans rose to reach 4.7% from 4.06%t in the first quarter. The total foreclosure inventory increased to 11.81% from 10.74% and the so-called seriously delinquent share of loans that are 90 days or more overdue rose to 17.85 from 16.42%

Plays this week

We saw plenty of opportunity for traders this week in our live forum : NEXM TGIC SPNC SCA FSYS THOR SQNM WPRT BLG RAMR ELON FNM HBAN CELG ADCT and today it seems Jim Cramer was able to give Lehman brothers (LEH) a nice bump on a mention during his broadcast! :)

Happy trading

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The market was so disheartened that it displayed little reaction when the Institute for Supply Management said the service sector grew unexpectedly in the month of July for the first time in three months as new orders increased and inflation was moderated. The August reading of 50.60 was higher than the 50 expected, and the reading of 49.20 in July -- but the sector's edging above the threshold between contraction and expansion was hardly a sign of a budding economy.

An economic recovery appears to be far off to investors...and with the Dow down more than 15 percent for the year so far, they don't appear to be holding out for a significant upturn in stocks either.

"We're seeing nothing but sellers!" said Ted Obrhaus, director of equity trading at Lord, Abbet & Co. "In a bear market, you don't need an excuse to sell"

The Dow fell 344.65, or 2.99 percent, to 11,188.23. It was the worst drop for the blue-chip index since June 26th, when it fell more than 358 points, or over three percent.

Broader indexes also tumbled today... The Standard & Poor's 500 index fell 38.15, or nearly three percent, to 1,236.83, and the Nasdaq composite index dropped 74.69, or 3.2 percent, to 2,259. All three indexes moved back into bear market territory, which is defined as a 20 percent drop from a recent peak. The indexes were at highs, including a record 14,198 for the Dow. Full Story

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Securities firms, Banks, and hedge funds are dumping assets and driving down prices of bonds, real estate, stocks and commodities, says Gross, co-chief investment officer of Newport Beach, California-based Pacific Investment Management Co "Unchecked, it can turn a campfire into a raging forest fire, a mild bear market into a destructive tsunami,'' Gross said. "If we are to prevent a continuing asset and debt liquidation of historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury''

Link to Full Story

In other news, traders were able to short shares of The Spectranetics Corp(SPNC) before it was halted today -- quite the win. The stock began trading lower this AM amid rumors of federal intervention. Other stocks on our watch list (for more bullish reasons) : Nexmed(NEXM) , Triad Guaranty(TGIC), FSYS, SCA, FBTX, BLG, RAMR, Sequenom(SQNM), Thoratec(THOR)

Happy Trading

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Clemmons joins Crescent State Bank with more than four years of experience in the banking industry. She earned a bachelor’s degree in economics and a master’s degree in applied and resource economics from East Carolina University in Greenville, N.C. Clemmons is an active member of the Wilmington Chamber of Commerce. A native of Hallsboro, N.C., she resides in Lake Waccamaw, N.C.

Related Links:
www.crescentstatebank.com
www.mmimarketing.com

News Facts:

• Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global Market SM), has announced that Nikki Clemmons has been named commercial loan officer for the bank’s Wilmington office.
• In this position, Clemmons will be responsible for establishing and maintaining effective personal business relations with clients, as well as serving as a primary point of contact for all business banking products and portfolio offerings.
• Clemmons joins Crescent State Bank with more than four years of experience in the banking industry.
• She earned a bachelor’s degree in economics and a master’s degree in applied and resource economics from East Carolina University in Greenville, N.C.
• Clemmons is an active member of the Wilmington Chamber of Commerce.

Quotes:
"Nikki brings an exceptional range of abilities to Crescent State Bank," Carlton said. “Her background will help expand our customer base and plan successful strategies to promote our newest bank products.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $881.1 million, deposits of $653.2 million, and net loans of $702.1 million as of March 31, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

OIL DIPS . Oil prices fell below $106 a barrel on Tuesday in Asia - $10 below its close Friday before the Labor Day weekend! - as investors slowly shifted their focus to slowing global demand after worries about Hurricane Gustav subsided. Full Story

On the watch Screen: COIN, SOLR, USO, SKF.

Happy Trading

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Un libro scritto da due fra i migliori tutor mondiali: Greg Capra e Oliver Velez, i due trader professionisti fondatori di Pristine.com, il pluripremiato sito dedicato alla formazione sul trading che ha contribuito a divulgare eccezionali tecniche operative adatte a svariati time frame, dall’intraday al “5 minuti”, fino al giornaliero.
Le tecniche contenute in questo libro, frutto di anni di applicazione e testing sui mercati reali, sono adatte a quei trader di breve termine che desiderano disporre di un arsenale efficace ma di facile utilizzo. Le strategie proposte sono dettagliatamente spiegate proprio per evitare un impiego “meccanico” delle stesse e per far sì che il trader ne abbia ben compreso il senso prima di applicarle al mercato.
L’opera nel suo insieme affronta efficacemente anche gli aspetti relativi all’approccio corretto verso il mercato, indicando i “sette peccati capitali” accanto alle “virtù”, intese come abilità da acquisire che sono proprie di ogni trader di successo.
Lungi dal proporre una formula magica per prosperare senza faticare, gli autori sottolineano come qualsiasi semplificazione che stimoli l’illusione di facili guadagni vada «evitata come la peste».
Il risultato è un’opera estremamente completa, compatta e dal taglio spiccatamente pratico, destinata a diventare un classico nella biblioteca di ogni trader motivato a raggiungere il successo.

Indice dei contenuti

Prima parte
Diventare master trader: prepararsi mentalmente al successo

• Capitolo 1
  Gli inizi di un master trader: capire il mondo di un master trader
• Capitolo 2
  Acquisire una mentalità vincente: come sviluppare un atteggiamento corretto
• Capitolo 3
  Saper perdere: fondamentale presupposto di un’operatività vincente
• Capitolo 4
  La formazione di un master trader: come formarsi in tempi ragionevoli e senza grosse perdite
• Capitolo 5
  I sette peccati capitali del trading: come combatterli e sconfiggerli
• Capitolo 6
  Le 12 leggi del successo nel trading: principi di vita del master trader
• Capitolo 7
  I segreti del master trader: 15 cose che ogni trader dovrebbe sapere ma che spesso non sa
• Capitolo 8
  10 lezioni per il master trader
• Capitolo 9
  I consigli di una maestra vera: otto lezioni elementari per la vita e il trading da parte di mia madre

Seconda parte
Strumenti e tattiche del master trader: acquisire l’arsenale operativo del master trader

• Capitolo 10
  Strumenti e tattiche per il timing
• Capitolo 11
  Strumenti e tattiche per l’analisi grafica
• Capitolo 12
  Strumenti e strategie di esecuzione degli ordini
• Capitolo 13
  Book di II livello del Nasdaq e relative strategie
• Capitolo 14
  Strategie e tattiche d’ingresso
• Capitolo 15
  Tecniche e strategie di gestione della posizione
• Capitolo 16
  Tecniche e strategie di uscita

Terza parte
Guardare avanti

• Capitolo 17
  Compendio finale
• Capitolo 18
  ESP: il futuro dei software di trading
• Capitolo 19
  Conclusioni

Commento

Trattasi di un libro molto interessante che, oltre a trattare l' aspetto puramente operativo del Trading, prende in considerazione tutto l' aspetto e il bagaglio psicologico necessario per affrontare i mercati.

All' interno del libro inoltre vi si possono trovare delle vere e proprie "Pillole Di Saggezza" , frutto di una notevole esperienza diretta dei due autori nel mondo del Trading Online.

Per quanto riguarda l' aspetto operativo sono illustrati numerosi pattern e svariate tecniche di Trading.

A mio avviso alcuni contenuti comunque rimangono perlopiù destinati a chi opera direttamente sui Mercati Americani ( Dow Jones , Nasdaq ).

In ogni modo questo libro rimane un MUST per tutti in quanto riesce a trasmettere un ottica professionale con cui osservare ed analizzare i mercati finanziari.

Consigliatissimo.

UK: The US is contagious

Britain is facing arguably the worst economic downturn in 60 years which will be "more profound and long-lasting" than people had expected, Alstair Darling, the chancellor, tells the Guardian newspaper today.

Full Story: http://tinyurl.com/5s7qqz

Share   type invest   price open   price close   termen     profit              money invest   Nr shares bought     

RF        short            11.59$        10.59$          1 day       1$/share        11590$            1000

LCC      long             2.37$          2.45$            1 day       0.08$/share   23700$            10000

SDA      long             19.67$        22.77$          1 month  3.1$/share     19670$            1000 

PL         long             35.19$        37.19$          2 weeks   2$/share        35190$            1000

LDK      long             31.99$        39.49$           1 week    7.5$/share      31990$           1000

NEU      long             61.01$         62.90$          1 day      2.89$/share     61010$           1000

ANR      short            96$              91$               1 week   5$/share          96000$           1000

STP       long             34.70$         35.50$           1 week   0.8$/share       34700$           1000

TOTAL PROFIT OF P4S is 23090$ in 2 month july and august.

Confira a matéria publicada:

Depois de rechear o caixa com o polpudo aporte de 63 milhões de dólares dos fundos norte-americanos NEA e Goldman Sachs, a Spring Wireless parte para as aquisições. A companhia acaba de comprar a Okto, empresa de mobile marketing que fornece tecnologia para 75% dos serviços de SMS corporativos no Brasil.

Marcelo Condé (foto), CEO da Spring, não revela o quanto pagou, mas pelo tamanho da Okto, dá para imaginar que não foi pouco: no ano passado a empresa faturou 30 milhões de reais e a projeção para esse ano é chegar em 50 milhões de reais. Em uma conversa por telefone há pouco, Condé me disse que a Spring tem interesse especialmente nas plataformas de mensagens da Okto, para ampliar seus negócios de SMS, que até então representavam de 2% a 3% do faturamento.

A transação vai permitir que a Spring aumente os serviços oferecidos -- como mobile marketing via SMS e também nos serviços interativos, como quiz para os usuários de celular. Isso vale não só para o Brasil, como também para seus mercados internacionais. Na Rússia -- onde a Spring tem clientes gigantes como a L´oréal -- não há serviços de mobile marketing parecidos com o que oferece a Okto, segundo Condé, o que vai permitir à empresa barganhar uma expansão nos contratos.

Outra área que a Spring também vê crescimento com a incorporação da Okto será em mobile banking. A combinação das tecnologias das duas empresas permitirá a redução no nível de complexidade de instalação da interface de internet banking no celular. Segundo Condé, até então um entrave comum era o usuário precisar selecionar no momento do início do uso do mobile banking qual plataforma utilizaria, precisando selecionar o que iria baixar para viabilizar o serviço. Com o novo método, o sistema de internet banking poderá reconhecer automaticamente o modelo e o sistema operacional do celular do usuário e destinar a ele sua versão correta.

A Okto nasceu há seis anos de um spin off da Tiaxa, outra empresa da área de mobile business. Hoje tem 110 clientes no país. Dessa base, 25 são comuns à Spring, entre eles a AmBev, que utiliza sistemas de automação de vendas para terminais móveis. Com a integração, a AmBev poderá negociar seus sistemas móveis com uma só companhia.

Outro exemplo de aplicação possível da tecnologia da Okto combinada à da Spring seria utilizar as informações colhidas no ponto de venda pelos funcionários da AmBev para a criação de uma campanha de marketing móvel para aquele cliente específico, depois de os dados terem passado por um software de inteligência de negócios.

A estrutura da Okto, que hoje tem 150 funcionários e fica baseada em São Paulo, continuará a mesma, comandada pela então CEO Ann Willians. A estrutura permanece a mesma, com os mesmos diretores. Segundo Condé, a diferença é que agora a estrutura pertence à Spring.

Fonte: Portal Exame

  Jrcc

long position;

-price open today:41.61$

-Close position:This month at 44,5$-46,8$

-profit estimate:2,9$-5,2$/share

The FDIC has been keeping a close eye on banks and thrifts with high levels of exposure to the riskiest borrowers and markets, officials say, including sub prime mortgages and construction loans in overbuilt areas.

http://tinyurl.com/5qteaq

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EN PAY DECK LM GPS HEK GW IWM USO YHOO SINA QQQQ PDS LLY CSCO NYT

Infosys Technologies said on Monday it had agreed to buy British consultancy Axon Group Plc for £407m (US$753m) as India’s second-biggest software services exporter looks for growth beyond an uncertain U.S. market.

The cash deal values Axon at £6 per share, a 19.4 per cent premium over Friday’s close of £5.025 and 33 per cent over the average price of the last six months, Infosys CEO Kris Gopalakrishnan said.

The offer price included any interim dividend that Axon, which has a market value of almost US$600m, may announce when it releases results on Tuesday, Infosys said. The Axon board has already ”unanimously recommended” the offer, with its large shareholders and some key employees also supporting the deal, Infosys CFO V. Balakrishnan said.

”They wanted to enter Europe in a big way, and probably this is the reason why they have paid a higher premium,” said R. K. Gupta, managing director of Taurus Mutual Fund in New Delhi.

”It’s a positive sign for the company because they were sitting on a huge cash pile, and it was not generating any return.”

Subject to shareholder and regulatory approvals, Nasdaq-listed Infosys expects to complete the deal in November. Axon, which provides services to companies using products of German business software maker SAP, would be delisted, Infosys said.

Rest of the news here.

Above picture of Infosys Mysore courtesy: Karthik

+++

Netsol is considered a microcap with quite a lot of headroom for growth. The company's stock touched $4 last year before falling to $3 and thereabouts. We do expect it will regain $4 levels before the end of 2008. This would represent roughly 40% return to an investor looking to purchase NTWK at its current price of $2.84.

Ameritrade's news feeds carry this story:

In a radio interview with Chuck Jaffe, MarketWatch senior columnist, Auer noted that investors looking at stocks from the bottom up should not shy away from good small companies -- at a time when the market seems to favor large-caps -- even if that means going down to Pink Sheets companies to find them.

Auer's fund is just a few months old, but his firm has used its current system on private funds for years, looking for stocks that have at least 25% year-over-year earnings growth and revenue growth of 20%, and then looking for a combined price/earnings ratio -- representing trailing, forward and current P/E -- of 12 or less to make sure he's getting those stocks on the cheap.

[..]

"We're focused on the numbers for the company," Auer said, "not the market or the cap size or the sector."

Further proving that willingness to go anywhere, Auer talked about several microcap stocks, putting buy recommendations on Art's-Way Technologies and NetSol Technologies....

Here's a look at NTWK's year-to-date price curve and trade volumes:

We've written about Netsol extensively here at TechLahore, here's a sampling of some of our previous posts:

• Netsol lists on Dubai Stock Exchange
• Stock loses 55% in 3 months - Netsol in trouble?
• Netsol's LeaseSoft application wins award
• Netsol's revenues cross Rs. $1BN
• Najeeb Ghauri on Netsol's China Strategy

Here's more about Netsol from their official press releases:

About NetSol Technologies Inc.

NetSol Technologies (NASDAQ: NTWK) (DIFX: NTWK) is a worldwide provider of global business services and enterprise application solutions. NetSol uses its BestShoring(TM) practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Organized into specialized practices, these product and services offerings include portfolio management systems for the financial services industry, consulting, custom development, systems integration, and technical services for the global Healthcare, Insurance, Real Estate, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 279001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, technology providers, and governmental agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in London, San Francisco, Sydney, Beijing, Bangkok, and Lahore. To join the NetSol Technologies Inc. email distribution list please visit: http://www.b2i.us/irpass.asp?BzID=897&to=ea&s=0.

To learn more about NetSol Technologies Inc, visit www.netsoltech.com

The Linq to Financial Markets provider

An easier way to consume, visualize, understand and quantify just about any information you can imagine from the world of global financial services.

• Real-Time stock quotes to Complex Analytics of Multi-Asset Class Portfolios
• Monte-Carlo simulation with Optional Quantitative Add-Ins
• Efficient frontier Optimization based on Constraints you Set
• User defined heuristics from strategic rebalancing to day-trading

Thanks to Microsoft's Linq technology (introduced in the .NET 3.5 platform), the code in the image above is 100% real. It's well established that by making things easier and more 'declarative' overall productivity goes up, quality improves and most importantly overall maintenance and future extensibility can get the attention they often lack once the non-strategic work is made unnecessary.

In the case above we get the items in our portfolio now priced (using a real-time feed) below their 90 day moving average. You can 'inject' added information as we do above for history. Another option would be to inject some 'predictive' numbers using a simulation technique.

There are many Linq providers, however most are 'technology focused' such as dealing with protocols or platform APIs. We have always been the most interested in solving the harder problems driven from the business perspective. Although there are many technologies involved here, the larger difficulty is making it available in whatever way you would like to see it, across a broad set of dimensions well beyond any technology constraint.

We support more then just 'detail' information, You can use aggregate style commands (say you want to to get you assets for a pie chart that displays asset class holdings in percent). If you then wanted to drill-down, you could use the same asset class information in a 'where' clause to limit the detail to just what you own in that class. But moving well beyond 'SQL' type logic, you can set up monitoring alerts that take action if/when a trigger is met.

The key is the same simple syntax is used for all data providers across all levels of information, including full-text scans and a new feature we're working on now for a future release incorporating an even easier natural language syntax.

This platform is not a fundamentally new way to calculate or retrieve this information. We've had access to many frameworks, API's, data providers, etc. for a long time now.

What this Linq provider does however, it change the dynamics of complexity, time to market, assumed costs in maintenance and testing, and much more. This offering's goal is to make problems in this domain become utterly trivial. Our goal is to empower your team to make trivial what was previously arduous.

You're about to 'declare' what you want, rather then describe each step in the process. If your thinking it looks a lot like 'SQL' you're 100% correct. However SQL could never achieve what Linq provides.

Comparing SQL to what Linq is capable of is like comparing your ability to easily retrieve information from accounting to easily retrieving information from 'anything that is information'.

Due to the nature of the access to this information, we are still working out the details for the open-source version we plan to offer soon. The world of the owners of this data has not caught up to the philosophy we have for transparency and shared value. Send us an email for updates or simply register for the site feed. Also if your in the industry and have an interest we are looking for innovative early adopters. Also, we'll be posting on many of the challenges we faced and a few innovative solutions we applied to the emerging and highly strategic domain of intelligent Linq Parser development.

• Official Microsoft LINQ Project
• 101 C# LINQ Samples
• 101 Visual Basic LINQ Samples
• LINQ to XML Documentation
• Microsoft LINQ forum
• LINQ page on NetFXGuide.com
• LINQ wiki
• LINQ books
• Continuous LINQ
• LINQ To Sharepoint
• LINQ To Active Directory
• Linq Tutorials and Active Articles
• Looking to LINQ - Will Microsoft's Language Integrated Query transform programmatic data access?
• Obtics (Observable Object LINQ)
• LINQ to SNMP
• Different Ways Of Retrieving Data From Collections
• LINQ Exchange - Learn LINQ and Lambda Expressions

The financial figures for the 2008 Carolina 100 list were supplied by Standard & Poor’s Compustat, who provides data used by institutional money managers and analysts worldwide. Compustat provides vital company, index and industry information that supports financial models and proprietary company and industry analysis.

Crescent State Bank, founded and headquartered in Cary, has 13 full-service banking offices in North Carolina.

Related Links:
www.crescentstatebank.com
www.newsobserver.com
www.newsobserver.com/2659/story/1100384.html
www.standardandpoors.com
www.mmimarketing.com

News Facts:
• Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that the bank has been named to the 2008 Carolinas 100, a list compiled by The News and Observer ranking the top 100 publicly traded companies in North Carolina and South Carolina.
• The list, which ranks companies based on revenue, stock performance and market capitalization, included companies in various industries such as banking, technology, consumer goods, retail, real estate and manufacturing.
• Crescent State Bank ranked 85th on the list, reporting more than $57 million in revenue and $6.3 million in profit.
• The financial figures for the 2008 Carolina 100 list were supplied by Standard & Poor’s Compustat, who provides data used by institutional money managers and analysts worldwide.
• Compustat provides vital company, index and industry information that supports financial models and proprietary company and industry analysis.
• Crescent State Bank, founded and headquartered in Cary, has 13 full-service banking offices in North Carolina.

Quotes:
“We are excited to be recognized as one of the top 100 public companies in the Carolinas,” said Carlton. “As a North Carolina community bank, this recognition speaks volumes to our ongoing commitment to the local communities we serve, as well as our tremendous staff of 149 banking professionals.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The bank has total assets of $881.1 million, deposits of $653.2 million, and net loans of $702.1 million as of March 31, 2008. The bank operates 13 full-service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2), North Carolina. For more information, visit www.crescentstatebank.com.

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC

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