Daily Markets - Major US Averages Hold Gains Into After Hours
Daily Markets - Major US Averages Hold Gains Into After Hours |
- Major US Averages Hold Gains Into After Hours
- Option Plays On 22 July: Bank of America, The Blackstone Group, Chiquita Brands International, Eli Lilly & Co., Netflix, Medco Health Solutions, UPS
- Stock Picks For Friday 23 July: Royale Energy, THQ, Banner Corporation
- Missing It Completely
- Stock Market News Briefs: Bank Of America Corporation
- APD’s Net Doubles, Outlook Raised
- KeyCorp Swings To Profit
- Analyst Interviews: Oil & Gas Industry Stock Review
- Sherwin-Williams Beat Estimates
- Amazon Disappoints
- Microsoft Splashes, Shares Dip
- Travelers Misses, Trims Outlook
- An Interview With Jeff Middleswart- Portfolio Manager Of The Vice Fund
- Eli Lilly Shines, Ups Guidance
- Exelon Beats, Raises Estimates
- Robert Half Profit Doubles
- BPO Biz Drives Xerox’s Results
- Hershey Q2 Earnings Tops
- How Chinese Tweets Can Pad Your Nest With Cash
- Visa Buys CyberSource
- Axiom Arrays From Affymetrix
- Cypress Bioscience A Buyout Target
- Citi Shuts Subprime Lending Offices
- SABESP’s 5th Promissory Notes Issue
- Bouillabaisse
- Union Pacific Posts Record Profit
- ArvinMeritor To Invest $23M In R&D
- Rail Traffic Continues To Post Gains Vs. Last Year
- Reynolds Beats, Raises Outlook
- Marriott Upgraded To Outperform
- U.S. Credit Firms Tell Clients Not To Use Their Ratings?
- Xilinx Beats As Profit Quadruples
- Boeing In Demand
- Flying In Farnborough
- Singapore Stock Market Update For Thursday 22 July
| Major US Averages Hold Gains Into After Hours Posted: 22 Jul 2010 06:30 PM PDT It was a nice day in the markets with all averages holding a large part of their gains into the After Hours. This is also only the second time that the market has closed above the downtrend established in April and the DOW, NASDAQ, & SPX all finished today over the 50 Moving Average, potentially turning this mid-term moving average from resistance to support. There is resistance at key levels, 1098 R1/1105 R2 on the SPX, these need to be broken if we are going to see upside push. It … [visit site to read more]
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| Posted: 22 Jul 2010 06:22 PM PDT Chiquita Brands International, Inc. (NYSE:CQB) - Shares of the marketer and distributor of bananas and other fresh produce surged 5.2% this afternoon to an intraday high of $12.68, giving bullish players a healthy appetite for call options on the stock just one week before the firm is slated to report second-quarter financial results. Chiquita Brands International popped up on our 'hot by options volume’ market scanner after investors coveted approximately 2,900 calls at the now … [visit site to read more]
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| Stock Picks For Friday 23 July: Royale Energy, THQ, Banner Corporation Posted: 22 Jul 2010 06:06 PM PDT ( click to enlarge ) Royale Energy (NASDAQ:ROYL) was a great day/swing play today. I hope you were able to take advantage of the easy gains that the stock provide for us on heavy volume. Stocks that trade the way ROYL did gave us plenty of opportunities to trade in and out for nice profits. Make sure you keep your eye on this one over the next couple of days, because it can go much higher. If you locked in profits anywhere, congratulations ! ( click to enlarge ) THQ Inc (NASDAQ:THQI) … [visit site to read more]
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| Posted: 22 Jul 2010 04:06 PM PDT (Image: source) “Most Americans Think Economy Yet to Hit Bottom” (CNBC) Nearly two-thirds of Americans believe that the economy has yet to hit … [visit site to read more]
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| Stock Market News Briefs: Bank Of America Corporation Posted: 22 Jul 2010 03:35 PM PDT With earnings season in full swing, you may find it particularly useful to trade volatility skews. If you have never heard of a volatility skew, don’t panic. It is a simple strategy that professional option traders use successfully.
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| APD’s Net Doubles, Outlook Raised Posted: 22 Jul 2010 03:00 PM PDT Air Products and Chemicals' (NYSE:APD) third quarter 2010 net earnings more than doubled to $253.2 million or $1.17 a share, versus last year's $114.6 million or 53 cents. Excluding non-recurring charges, the specialty chemical producer earned $277 million or $1.28 per share, in line with the Zacks Consensus Estimate. Results, however, overtook the company's own guidance of $1.25 to $1.29 per share. Solid earnings growth came from higher revenues. Third quarter revenues leaped 14% year over … [visit site to read more]
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| Posted: 22 Jul 2010 02:50 PM PDT KeyCorp (NYSE:KEY) reported second quarter income from continuing operations of 6 cents per share, substantially better than the Zacks Consensus Estimate of a loss of 11 cents. This also compares much favorably with a net loss from continuing operations of 68 cents in the prior-year quarter. This represents KeyCorp's first profitable quarter since the beginning of the financial crisis in early 2008. Lower provisions for loan losses, solid expense management and higher fee income were the … [visit site to read more]
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| Analyst Interviews: Oil & Gas Industry Stock Review Posted: 22 Jul 2010 02:45 PM PDT OUTLOOK Crude Oil The improving economic scene, both here in the U.S. as well as worldwide, had been the main driver of the oil rally that saw the commodity zoom past the $85 per barrel level in late April/early May 2010. However, in recent days, concerns about the European debt crisis and China's growth outlook have renewed apprehensions about the global growth and energy demand. As a result, oil prices have slumped to around $76 per barrel. Additionally, high levels of product … [visit site to read more]
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| Sherwin-Williams Beat Estimates Posted: 22 Jul 2010 02:35 PM PDT Paint producer Sherwin-Williams Company (NYSE:SHW) posted net earnings of $1.64 per share in the second quarter of 2010, up 21.5% from $1.35 per share in the year-ago period. Adjusting for a one-time debt repurchase charge of 8 cents, the company earned $1.72 per share, beating the Zacks Consensus Estimate of $1.64. Quarterly revenues climbed 10% year over year to $2.1 billion, outpacing the Zacks Consensus Estimate of $2 billion. The growth revenues came from higher sales across all major … [visit site to read more]
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| Posted: 22 Jul 2010 02:20 PM PDT Amazon.com, Inc. (NASDAQ:AMZN) succeeded in surpassing revenue expectations for its second quarter, but the company fell short of earnings expectations for the first time since 2006.
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| Microsoft Splashes, Shares Dip Posted: 22 Jul 2010 02:20 PM PDT As analysts had been expecting ahead of Microsoft Corp.’s (NASDAQ:MSFT) earnings report for its fiscal 4th quarter and fiscal 2010 year-end, the company managed solid positive surprises on both the top and bottom lines after the closing bell Thursday. Fourth quarter EPS of 51 cents on company-record revenues of $16.04 billion beat the Zacks Consensus Estimates by 10.87% and 5.04%, respectively. For Microsoft’s fiscal year-end, the company posted EPS of $2.10 per share, topping the Zacks Consensus … [visit site to read more]
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| Travelers Misses, Trims Outlook Posted: 22 Jul 2010 02:20 PM PDT Operating earnings of The Travelers Companies (NYSE:TRV) for the second quarter of 2010 was $1.39 per share, lagging the Zacks Consensus estimate of $1.51 by 12 cents. Results compare favorably with operating earnings of $1.25 in the prior-year quarter. Operating income was $690 million, down 5.8% from $732 million in second-quarter 2009. Including net realized investment losses of $20 million or 4 cents per share, Travelers reported a net income of $670 million or $1.35 per share compared with … [visit site to read more]
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| An Interview With Jeff Middleswart- Portfolio Manager Of The Vice Fund Posted: 22 Jul 2010 02:18 PM PDT Vice Fund Jeff Middleswart is portfolio manager of the Vice Fund (VICEX)and Director of Research for Behind the Numbers. The Vice Fund is a mutual fund primarily focused on the alcohol, tobacco, gaming and defense industries. Founded in 1988, Behind the Numbers (BTN) is an independent research provider to institutional money managers. Given that BTN research is focused on stocks to avoid or sell short, Jeff has an extensive background in ferreting out potential problems … [visit site to read more]
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| Eli Lilly Shines, Ups Guidance Posted: 22 Jul 2010 02:05 PM PDT Eli Lilly (NYSE:LLY) reported second quarter earnings per share of $1.24, easily surpassing the year-earlier earnings of $1.12 and the Zacks Consensus Estimate of $1.11. Revenues also exceeded expectations. Revenues came in at $5.75 billion, topping the Zacks Consensus Revenue Estimate of $5.60 billion and 9% above the year-earlier revenues of $5.29 billion. Revenues were driven by an increase in volume (5%) and prices (2%), as well as a favorable impact of foreign exchange (1%). Revenue by Major … [visit site to read more]
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| Exelon Beats, Raises Estimates Posted: 22 Jul 2010 02:05 PM PDT Exelon Corporation (NYSE:EXC) announced second-quarter 2010 operating earnings of 99 cents per share compared with operating earnings of $1.03 per share in the year-ago quarter. The results of the company outstripped the Zacks Consensus Estimate, as provided by 14 coverings analysts, by 9 cents. The operating results exceeded the per-share guidance range of 80 cents to 90 cents provided by the company. The guidance beat was supported by strong results across all of Exelon's operating … [visit site to read more]
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| Posted: 22 Jul 2010 01:45 PM PDT Robert Half International Inc. (NYSE:RHI), a leading global staffing and risk consulting services provider, has reported solid second quarter 2010 results. Robert Half registered net income of $12.2 million or 8 cent a share in the quarter, compared with $5.4 million or 3 cents a share in the earlier year quarter. Earnings per share were in line with the Zacks Consensus Estimate. The year-over-year result benefited from improvement technology staffing, OfficeTeam and Protiviti divisions. For the … [visit site to read more]
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| BPO Biz Drives Xerox’s Results Posted: 22 Jul 2010 01:35 PM PDT Xerox Corporation (NYSE:XRX) showed an improvement in net earnings (adjusted) to $342 million or 24 cents per share in the second quarter of 2010 from $158 million or 18 cents per share in the last year's quarter. This was attributable to an impressive growth in its Services segment, which is, in turn, led by solid performances in its business process outsourcing (BPO) services business. The company overshadowed the Zacks Consensus Estimate of 21 cents per share. The adjusted EPS excluded 8 … [visit site to read more]
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| Posted: 22 Jul 2010 01:35 PM PDT The Hershey Company (NYSE:HSY) second quarter 2010 GAAP earnings slipped 34.5% to $46.7 million from $71.3 million in the year-ago period. Excluding special items, adjusted earnings per share came in at 51 cents, which topped the Zacks Consensus Estimate of 47 cents as well as the year-ago adjusted earnings of 43 cents per share. Hershey's net sales during the quarter increased 5.3% year-over-year to $1.2 billion, matching the Zacks Consensus Estimate. The growth was mainly driven by favorable … [visit site to read more]
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| How Chinese Tweets Can Pad Your Nest With Cash Posted: 22 Jul 2010 01:26 PM PDT Imagine if you couldn't tweet. Think of all those clever observations you couldn't share. Envision yourself, unable to tell the world that you ordered the cream of asparagus over the chicken noodle!
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| Posted: 22 Jul 2010 01:20 PM PDT In a special shareholder meeting, held on July 20, majority of the shareholders of CyberSource Corporation (NASDAQ:CYBS) voted in favor of the acquisition of CyberSource by Visa Inc. (NYSE:V)
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| Posted: 22 Jul 2010 01:20 PM PDT Genetic product maker Affymetrix Inc. (NASDAQ:AFFX) has broadened its Axiom Genotyping Solution (a high-throughput genotyping platform) with the launch of Axiom Custom Genotyping Arrays. This new solution enables the company to address the latest trends in genetic research.
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| Cypress Bioscience A Buyout Target Posted: 22 Jul 2010 01:05 PM PDT Recently, Cypress Bioscience Inc. (NASDAQ:CYPB) confirmed the receipt of a proposal from the New York based investment advisor Ramius LLC to take over the former for $4.00 per share. The board of directors of Cypress Bioscience will evaluate the all cash offer with its financial and legal advisors. The shareholders of Cypress Bioscience have been asked not to take action currently.
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| Citi Shuts Subprime Lending Offices Posted: 22 Jul 2010 01:05 PM PDT Citigroup Inc.'s (NYSE:C) unit CitiFinancial Services has closed nine Minnesota subprime lending offices at the end of June, according to a report in The Business Journal. The shuttered branches were located at Burnsville, Maple Grove, Alexandria, Austin, Blaine, North Branch, Virginia, Northfield and Marshall.
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| SABESP’s 5th Promissory Notes Issue Posted: 22 Jul 2010 01:05 PM PDT São Paulo, Brazil based public water and sewage services provider, Companhia de Saneamento Básico do Estado de São Paulo, or SABESP's (NYSE:SBS) board of directors approved a 5th Promissory Notes issue amounting to R$600 million. Funds raised through the issue will be utilized to meet obligations due in 2010 and 2011.
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| Posted: 22 Jul 2010 01:03 PM PDT 1. Family companies represent 60% of the nation’s employment and almost 80% of all new jobs. Family businesses control roughly 50% of the country’s GDP and some 35% of the Fortune 500 are family businesses. 2. There is a real hunger in consumers for customized, personalized products, and a new wave of entrepreneur is capitalizing on this trend to bring “customization to commerce” for chocolate, men's dress shirts, and a whole lot more. 3. Maywood, a city in California … [visit site to read more]
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| Union Pacific Posts Record Profit Posted: 22 Jul 2010 12:45 PM PDT U.S. railroad giant Union Pacific Corp. (NYSE:UNP) reported excellent results for the second quarter 2010. Quarterly net income was a record high $711 million or $1.40 per share compared to a net income of $465 million or 92 cents per share in the year-ago quarter. Second quarter 2010 EPS of $1.40 was far ahead of the Zacks Consensus Estimate of $1.21. This blockbuster performance was achieved through best-ever operating ratio, massive growth in business volume, cost efficiency, and pricing … [visit site to read more]
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| ArvinMeritor To Invest $23M In R&D Posted: 22 Jul 2010 12:45 PM PDT ArvinMeritor, Inc. (NYSE:ARM) plans to invest $23 million over the next five years in order to enhance its research and development capabilities at a technical center in its Troy, Michigan headquarter. Through the investment, ArvinMeritor will develop advanced technologies related to fuel efficiency, braking system, suspensions and vehicle dynamics. The move will create 125 jobs in the company by 2014.
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| Rail Traffic Continues To Post Gains Vs. Last Year Posted: 22 Jul 2010 12:36 PM PDT The Association of American Railroads released its weekly update today on rail traffic through last week, reporting that rail activity continues to show imporvements compared to the same weeks last year. Highlights include: 1. U.S. railroads originated 282,199 carloads for the week ending July 17, 2010, up 5.5% compared with the same week in 2009, but down 13.8% from pre-recession levels in 2008. 2. Intermodal traffic totaled 227,661 trailers and containers, up 20.1% from the … [visit site to read more]
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| Reynolds Beats, Raises Outlook Posted: 22 Jul 2010 12:30 PM PDT Reynolds American Inc. (NYSE:RAI) has delivered robust second quarter results for 2010. The company posted adjusted quarterly earnings of $1.32 per share surpassed the Zacks Consensus Estimate of $1.30 and year-ago earnings of $1.29 per share. On a reported basis, earnings plunged 9.3% to $1.17 a share in the quarter, compared with $1.29 delivered in year-earlier period. The North Carolina-based manufacturer and distributor of cigarette and other tobacco products narrowed and increased fiscal … [visit site to read more]
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| Marriott Upgraded To Outperform Posted: 22 Jul 2010 12:30 PM PDT We are upgrading our rating on Marriott International Inc. (NYSE:MAR), a leading worldwide hospitality company primarily focusing on property management and franchising, to Outperform from Neutral.
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| U.S. Credit Firms Tell Clients Not To Use Their Ratings? Posted: 22 Jul 2010 12:25 PM PDT By Dian L. Chu, In an article dated July 12, I first reported that Dagong International Credit Rating Co., the largest credit rating agency of China, stripped the the U.S. and some other western nations of the AAA ratings given by its big three Western counterparts. Dagong also accused its Western rivals of not properly disclosing the repayment and causing the global financial crisis and current debt crisis in Europe. This week, Guan Jianzhong, chairman of Dagong, made some … [visit site to read more]
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| Xilinx Beats As Profit Quadruples Posted: 22 Jul 2010 12:20 PM PDT Xilinx, Inc. (NASDAQ:XLNX) posted a net income of $159 million or 58 cents per share in the first quarter of fiscal 2011, beating the Zacks Consensus Estimate of 53 cents. The net income for the quarter quadrupled from the net income of $38.0 million or 14 cents in the year-earlier quarter. Sales of $594.7 million were up 12% sequentially and up 58% year over year. Customer demand remains healthy. This is the third consecutive quarter of growth for Xilinx, driven by growth in new product sales … [visit site to read more]
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| Posted: 22 Jul 2010 12:20 PM PDT Boeing Co. (NYSE:BA) announced that American Airlines, Inc., a wholly-owned subsidiary of AMR Corp. (NYSE:AMR), will procure 35 Next-Generation 737-800s airplanes. This is a follow on order to the already existing order of 84 that Boeing began delivering in 2009. American Airlines currently expects the total number of 737-800s in its single-aisle fleet to be 195 by the end of 2012.
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| Posted: 22 Jul 2010 11:47 AM PDT Back in my home county of Hampshire in England, the Farnborough International Airshow is in full swing this week.
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| Singapore Stock Market Update For Thursday 22 July Posted: 22 Jul 2010 07:57 AM PDT Morning Highlights Olam broke 2.70 Genting broke 1.21 Singapore state investor Temasek said on Thursday it plans to launch a $1 billion (US$725.7 million) 40-year benchmark bond, the longest-ever maturity for Singapore dollar-denominated debt. Watch out for Economic News Release … [visit site to read more]
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