Daily Markets - NIHD Net Falls, Outlook Bright |
- NIHD Net Falls, Outlook Bright
- State Street Upgraded To Neutral
- Vale’s Terrific Results
- MEOH Reverses Loss Yet Misses Ests
- Las Vegas Sands Soars On Asian Biz
- Breaking News: Buffett’s Successor To Be Li Lu
- Cabela’s Earnings Rises
- Strayer Education Outperforms
- BOK Financial Tops Estimates
- Monster Beats On Earnings
- Stock Market News Briefs: American Electric Power Company, Colgate-Palmolive Company, Goldman Sachs Group, McKesson, Merck & Company, Newell Rubbermaid, Walt Disney Company, Amgen, Google
- India’s Economic Ascent: Staying Strong Through The Financial Downturn
- FDA Positive On Medtronic’s Device
- Simon Property Beats Estimates
- Amgen Tops Zacks Consensus
- PKX Starts New Facility In Shenyang
- GDP Revisions Make 2nd Quarter Report Suspect
- Cosan Announces Preliminary Results
- Tyco Beats On Lower Revenues
- Rating Outlook Falls For Big Banks
- Sunoco Rebounds On Refining
- Euro-Zone’s Unemployment Remains At 12-Year High; Moody’s Reduces Iceland’s Credit Rating Outlook To Negative
- Stock Buy: G-III Apparel Group
- Stock Buy: Qualcomm Inc.
- Bull Of The Day: Tractor Supply Co. (TSCO)
- Stock Buy: Pier One Imports Inc.
- Bear Of The Day: Genomic Heath, Inc. (GHDX)
- McDonald’s Vs. Yum!: The Fight To Feed The Chinese Dragon
- Focus On International Investing
- Hot Stock News For Friday 30 July: JPMorgan, Banco Santander, Google, Microsoft, Oracle, General Electric, MetLife, GlaxoSmithKline, Expedia, FirstSolar, Amgen, British Airways
- RiverPark Adds Funds To Initial Active ETF Lineup
- Forex Trading: Eurozone Unemployment
- Forex Trading: Eurozone Flash CPI
- New Gold’s Cerro San Pedro Mine Fully Operating, Presents Buying Opportunity
- Fetters Of Gold And Paper
- Forex Trading: EUR/USD Still Hovering Around 3-Month High
- Bloomberg Businessweek Calls Commodity ETFs “America’s Worst Investment”
- The (market) Spirits Are Willing, But The Fundamentals Are Weak
- Crude Oil Rises On Bargain Buying, Gold’s Fate In The Hands Of Investors
- A Hard And Frustrating Day To Trade
- Watch Out For The Waterfall: Daily ETF Outlook (SPY, DIA, IWM, GLD, USO)
- S&P 500 Trapped Between Daily Moving Averages
- Outlook For The US Dollar And US Stock Market
- From The “You Just Can’t Make This Stuff Up” File: ADA Vs. Chipotle; Happy 20th Birthday ADA
- Bullard, Deflation, And Quantitative Easing
- LAX Freight Traffic Back To Pre-Recession Level
- St. Louis Fed President Bullard, Deflation, And Quantitative Easing
- Singapore Stock Market Update For Friday 30 July
- Little Cause For Optimism
- Lack Of Stock Market Leadership Keeps Markets Stuck In Mud
- Stock Picks For Friday 30 July: Intel, Sohu.com, Royale Energy, Akamai Technologies
- Dividends You Want? Dividends You Get
- Noble Energy Jumps On Volume Growth
- Meredith Outpaces Zacks Estimate
- Stericycle Meets Zacks Estimate
- Gentiva Beats, Ups Revenue Outlook
- Three Forces That Could Ignite Natural Gas
- Three Reasons Silver Is Likely To Shine
- Visa Beats On Strong Top Line
- CME Beats On Higher Top Line
- Cerner Tops, Profit Sails
- EQT Corp. Misses Zacks Estimates
- Xcel Energy Beats By A Penny
- Cincinnati Financial Tops
- DENTSPLY Shy By A Penny
- Ball Corp. Beats On Volumes
- Record Revenues Don’t Help CONSOL
- Q2 Revenues Rise At Celgene
- SCANA’s 2Q Falls Behind
- Assurant Beats Estimates
- Neurocrine Looks Well Positioned
- Iron Mountain Misses Top Line
- UK Order Nix Drags Raytheon
- Initiating Coverage Of Aastrom Bio
- Wisconsin Energy Beats, Ups Outlook
- Warren Buffett’s Favorite Economic Indicator - Weekly Rail Traffic - Maintains Steady Pace
- Interpublic Beats Zacks Estimates
- BMC Software Topline Grows
- ViroPharma Beats; Raises Guidance
- Symantec Tops Expectations
- Becton, Dickinson Exceeds
- Akamai Misses, Shares Plunge
- LGL Group Hits Its Stride
- Waste Management Matches Est.
- Avon Products Beats The Street
- Dr Pepper Tops, Affirms Outlook
- Goodrich Surpasses, Raises Outlook
- Southwest Tops On Solid Traffic
- Northrop Surpasses Zacks Estimate
- “Black Cross” And MTI: A Divergence
- Singapore Stock Market Update For Thursday 29 July
| NIHD Net Falls, Outlook Bright Posted: 30 Jul 2010 07:30 AM PDT Latin American wireless operator NII Holdings Inc. (NASDAQ:NIHD) declared a significant decline in net earnings in its second quarter 2010 financial results. This was primarily due to higher interest expenses, which rose almost 122% year over year. Nevertheless, NII Holdings raised its previously given financial guidance for fiscal 2010.
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| State Street Upgraded To Neutral Posted: 30 Jul 2010 07:15 AM PDT Based on strong organic growth fueled by efficient cost control and favorable global asset management trends, we are upgrading our recommendation on State Street (NYSE:STT) to Neutral from Underperform.
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| Posted: 30 Jul 2010 07:15 AM PDT Brazil's largest miner, Vale S.A. (VALE) reported excellent results of an EPADR of 70 cents for the second quarter of fiscal 2010, a big leap from 15 cents in the year-ago quarter. On a sequential basis, EPADR was also more than double from 30 cents. However, it missed the Zacks Consensus Estimate of 78 cents. Net earnings also increased to $3,705 million from $790 million in the corresponding quarter of 2009 and $1,604 million during the previous quarter. This huge jump was … [visit site to read more]
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| MEOH Reverses Loss Yet Misses Ests Posted: 30 Jul 2010 07:00 AM PDT Methanex Corporation (NASDAQ:MEOH), the world's largest supplier earned $11.7 million or 13 cents in the second quarter of 2010 in contrast to last year's net loss of $5.7 million or 6 cents. However, earnings missed the Zacks Consensus Estimate of 17 cents. It also narrowed from $26.6 million or 31 cents in the first quarter of 2010.
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| Las Vegas Sands Soars On Asian Biz Posted: 30 Jul 2010 07:00 AM PDT Las Vegas Sands Corp. (NYSE:LVS) recorded adjusted earnings of 17 cents per share in the second quarter of 2010, beating the Zacks Consensus Estimate of 9 cents. The company earned one penny a share in the year-earlier quarter.
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| Breaking News: Buffett’s Successor To Be Li Lu Posted: 30 Jul 2010 06:52 AM PDT Li Lu In a shocking article in the WSJ today, Charlie Munger announced who would take over for Buffett. "In my mind, it's a foregone conclusion," Mr. Munger said. Buffett, and Lu have both refused to comment.
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| Posted: 30 Jul 2010 06:45 AM PDT Cabela's Inc. (NYSE:CAB), one of the leading specialty retailers of hunting, fishing, camping, and related outdoor merchandise, recently posted better-than-expected second-quarter 2010 results. The quarterly earnings of 28 cents a share beats the Zacks Consensus Estimate of 22 cents, and rose 64.7% from 17 cents delivered in the prior-year quarter.
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| Posted: 30 Jul 2010 06:35 AM PDT Strayer Education Inc. (NASDAQ:STRA), for-profit education company, recently posted better-than-expected second-quarter 2010 results on the heels of robust student enrollments. The company earned a net profit of $35.7 million during the quarter, up 30% from the prior-year quarter.
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| Posted: 30 Jul 2010 06:35 AM PDT BOK Financial Corporation's (NASDAQ:BOKF) second quarter earnings of $63.5 million or 93 cents per share were well above the Zacks Consensus Estimate of 83 cents. The results also compared favorably with prior quarter earnings of $60.1 million or 88 cents (78 cents excluding a one-time gain from the purchase of the rights to service residential mortgage loans on favorable terms), and prior-year quarter earnings of $52.1 million or 77 cents per shar. Results reflected a higher-than-expected … [visit site to read more]
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| Posted: 30 Jul 2010 06:35 AM PDT Monster Worldwide, Inc. (MWW), parent company of Monster.com, reported revenues of $215 million in the second quarter of 2010, down 4% year over year but essentially flat on a sequential basis. The decline is the lowest percentage decrease since the third quarter of 2008. The results came within management's guidance range of $210 million – $220 million but fell short of the Zacks Consensus Estimate of $216 million. Net loss came in at $3 million or 2 cents per share, compared to a loss … [visit site to read more]
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| Posted: 30 Jul 2010 06:35 AM PDT Google (NASDAQ:GOOG) retracted from its last night’s claims that its search engine was completely blocked in China, saying, “Because of the way we measure accessibility in China, it’s possible that our machines could overestimate the level of blockage… It appears now that users in China are accessing our properties normally.” Disney (NYSE:DIS) announced sale of Miramax for over $660 million to Filmyard Holdings, a group of private investors Amgen (NASDAQ:AMGN) reported inline … [visit site to read more]
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| India’s Economic Ascent: Staying Strong Through The Financial Downturn Posted: 30 Jul 2010 06:29 AM PDT Some 30 years ago, some tech-savvy people in India surprised the business world.
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| FDA Positive On Medtronic’s Device Posted: 30 Jul 2010 06:15 AM PDT Recently, Medtronic Inc. (NYSE:MDT) received positive recommendation from the U.S. Food and Drug Administration's (FDA) Orthopaedic and Rehabilitation Devices panel, for its Spinal Device, Amplify recombinant human bone morphogenetic protein (rhBMP-2) Matrix. The device is used to treat spinal fusions in patients suffering from degenerative disc diseases. The panel's decision came after the review of results from a 463 patient-trial, treated with Amplify rhBMP-2 Matrix. As compared to … [visit site to read more]
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| Simon Property Beats Estimates Posted: 30 Jul 2010 06:15 AM PDT Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), reported second-quarter 2010 FFO (funds from operations) of $487.7 million or $1.38 per share, compared to $313.1 million or $0.96 per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The second-quarter 2010 FFO beat the Zacks Consensus estimate by 4 … [visit site to read more]
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| Posted: 30 Jul 2010 06:15 AM PDT Amgen (NASDAQ:AMGN) reported second quarter earnings per share of $1.34, 5 cents above the Zacks Consensus Estimate of $1.29 and 5.5% above the year-ago earnings. Total revenue, however, increased only 2.5% to $3,804 million. Revenues were slightly above the Zacks Consensus Estimate of $3,735 million.
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| PKX Starts New Facility In Shenyang Posted: 30 Jul 2010 06:15 AM PDT Korean steel maker, POSCO (NYSE:PKX) consummated the construction of POSCO-CLPC, a new processing center in the EU Economic Development Zone in Shenyang, China. The center has the capacity to process 170,000 tons of steel annually and remains equipped with Slitter, a Shear, a Blanking Line and a Mini-Shear.
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| GDP Revisions Make 2nd Quarter Report Suspect Posted: 30 Jul 2010 06:14 AM PDT 2nd quarter 2010 GDP was just released and registered growth of +2.4% versus consensus expectations of +2.6%. Slightly weaker than expected and we can all move on perhaps? Not so fast.
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| Cosan Announces Preliminary Results Posted: 30 Jul 2010 06:05 AM PDT Brazil-based Cosan Ltd. (NYSE:CZZ) announced its preliminary results for the first quarter of fiscal year 2011. Net revenue in the quarter totaled R$3,999.6 million (US$2222 million), up 12.2% year over year. The increase was attributable to higher sugar prices, which more than offset lower sales volume.
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| Posted: 30 Jul 2010 06:05 AM PDT Tyco International Ltd (NYSE:TYC) reported earnings per share from continuing operations of 72 cents, exceeding the Zacks Consensus Estimate of 64 cents. The company's reported revenues of $4.27 billion fell short of the Zacks Consensus Estimate of $4.35 billion.
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| Rating Outlook Falls For Big Banks Posted: 30 Jul 2010 05:45 AM PDT The rating outlooks for big banks have been lowered by Moody's Investor Service, a part of Moody's Corporation (NYSE:MCO). The rating agency has tempered its outlook for Bank of America Corporation (NYSE:BAC) (or BofA) , Citigroup Inc. (NYSE:C) and Wells Fargo & Company (NYSE:WFC) to "negative” from "stable”.
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| Posted: 30 Jul 2010 05:45 AM PDT Independent refiner and marketer of petroleum products, Sunoco Inc. (NYSE:SUN) reported significantly better-than-expected second quarter 2010 results, driven by steady earnings from most of its business segments. Earnings per share, excluding special items, came in at $1.31, outshining the Zacks Consensus Estimate of 74 cents. The reported quarter result was substantially ahead of the loss per share of 27 cents in the second quarter 2009.
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| Posted: 30 Jul 2010 05:22 AM PDT The euro has come under pressure against the greenback and now looks to test the lower bounds of the rising channel. During the overnight trade, German retail sales for the month of June contracted 0.9 percent after climbing a revised 3.0 percent amid economists' expectations of -0.2 percent. Fundamental Headlines • GDP Jitters Hit Futures – Wall Street Journal
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| Stock Buy: G-III Apparel Group Posted: 30 Jul 2010 05:05 AM PDT G-III Apparel Group (NASDAQ:GIII) continues to show excellent earnings results as back-to-school spending rebounds. Shares are also a good value as investors have been cautious with the retail sector.
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| Posted: 30 Jul 2010 05:05 AM PDT Qualcomm Inc. (NASDAQ:QCOM) continues to benefit from consumers increasing their use of 3G devices to stay connected. That is a part of the trend of more consumers using smart phones and other mobile devices to text, email, and access the internet.
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| Bull Of The Day: Tractor Supply Co. (TSCO) Posted: 30 Jul 2010 05:05 AM PDT We maintain our long-term Outperform recommendation on Tractor Supply Co. (NASDAQ:TSCO) as we anticipate it to perform well above the broader market. Tractor Supply is the largest operator of retail farm and ranch stores in the U.S., with a diverse portfolio of branded and private-label merchandise.
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| Stock Buy: Pier One Imports Inc. Posted: 30 Jul 2010 05:05 AM PDT Pier One Imports Inc. (NYSE:PIR) has returned to profitability from the brink of retail death after same store sales grew by 14.3% in the first quarter of 2010. The company is trading at just 11x forward estimates, which is cheaper than its industry average of 14.8x.
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| Bear Of The Day: Genomic Heath, Inc. (GHDX) Posted: 30 Jul 2010 05:05 AM PDT Genomic Health’s (NASDAQ:GHDX) first quarter 2010 loss of $0.07 per share missed the Zacks Consensus Estimate of a loss of $0.03. Although the company’s lead product, Oncotype DX breast cancer test, recorded a year-over-year growth of 20%, revenues declined sequentially.
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| McDonald’s Vs. Yum!: The Fight To Feed The Chinese Dragon Posted: 30 Jul 2010 04:12 AM PDT Speed kills. And in the fast food industry, it’s imperative. The speed of service and the ability to quickly adapt menus, packaging and advertising are what makes a market leader. And right now, the speed at which fast food companies make the transition into foreign markets, particularly China, is what matters most of all. The industry’s two biggest players, McDonald’s Corp. (NYSE:MCD) and Yum! Brands Inc. (NYSE:YUM) - the parent company of KFC, Pizza Hut, and Taco Bell - know … [visit site to read more]
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| Focus On International Investing Posted: 30 Jul 2010 04:10 AM PDT With US equity markets trading sideways in a horizontal band in the last few months, international markets continue to become increasingly appealing to investors. From a macro perspective, many economies outside of North America and Europe do indeed look quite a lot more promising than the US, both in terms of their fiscal position, their growth prospects and other fundamentals. With confidence in US markets so low, there have been very few times in the past where investing in international … [visit site to read more]
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| Posted: 30 Jul 2010 04:03 AM PDT Santander (NYSE:STD) - Co. is interested in acquiring in its home market, and will seriously consider acquiring a stake in a local savings bank. (Handelsblatt) UK GlaxoSmithKline (NYSE:GSK) - Co. sues Colgate-Palmolive over toothpaste 'nurdle’ - court filing. (RTRS) Anglo American - Co.’s H1 net income USD 2.1bln, and H1 EPS USD 1.84 vs. Exp. USD 1.79. Co.’s H1 revenue rose 35% to USD 15.02bln. Co. says it will resume dividend payments. (Sources) British Airways (BAY) - Co.’s Q1 … [visit site to read more]
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| RiverPark Adds Funds To Initial Active ETF Lineup Posted: 30 Jul 2010 04:00 AM PDT RiverPark Advisors first came into the spotlight as a sub-advisor on four actively-managed ETFs launched by Grail Advisors back Oct 2009. In Feb 2010, RiverPark chose to file with SEC to launch its own actively-managed ETF, on what we suggested may be the start of sub-advisors stepping up and going to market by themselves, by-passing platforms such as those provided by Grail and AdvisorShares. In the original 40-APP filed by RiverPark, they proposed the launch of two new actively-managed ETFs … [visit site to read more]
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| Forex Trading: Eurozone Unemployment Posted: 30 Jul 2010 02:04 AM PDT Eurozone Unemployment Rate remains at 10.0%, as expected. This release should have no impact on … [visit site to read more]
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| Forex Trading: Eurozone Flash CPI Posted: 30 Jul 2010 02:02 AM PDT Eurozone Flash CPI y/y came in at 1.7%, weaker than the 1.8% expected, but stronger than the prior reading of 1.4%.
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| New Gold’s Cerro San Pedro Mine Fully Operating, Presents Buying Opportunity Posted: 30 Jul 2010 02:01 AM PDT New Gold (NGD) has been a long term recommendation for my readers since May of 2009 when it was selling at $2.50. I have always been impressed by the quality of assets New Gold owns. New Gold is unique in the mining sector as they are leading the sector in increasing production and reducing cash costs. In two years, this company has gone from being in debt to having a comfortable net cash position. They have three operating mines in mining friendly jurisdictions and cash … [visit site to read more]
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| Posted: 30 Jul 2010 12:01 AM PDT The world economy is experiencing tensions arising from inflexible exchange rates - particularly the dollar-renminbi peg and the Eurozone. Drawing on lessons from the gold standard, this column points out that an international monetary system is a system - nations’ policies have spillovers. Now, as in the 1930s, surplus nations’ refusals to increase spending force deficit countries to contract. Keynes drew this lesson from the Great Depression, which is why he wanted measures to deal … [visit site to read more]
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| Forex Trading: EUR/USD Still Hovering Around 3-Month High Posted: 29 Jul 2010 11:35 PM PDT EUR/USD Still Hovering Around 3-Month High
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| Bloomberg Businessweek Calls Commodity ETFs “America’s Worst Investment” Posted: 29 Jul 2010 10:01 PM PDT Billions of dollars are pouring into exchange-traded funds (ETFs), but it seems there is still much for investors to learn about how these funds work. We’ve written in the past about ETF liquidity issues that hurt investors during the May 6 “flash crash,” the trading costs that can drain away real returns for investors and the impact on investors when ETFs trade at a premium or a discount to their underlying net asset value. This week’s cover story in Bloomberg Businessweek presents … [visit site to read more]
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| The (market) Spirits Are Willing, But The Fundamentals Are Weak Posted: 29 Jul 2010 09:51 PM PDT Recently Barrons asked the question: "Do you believe in technicals or fundamentals?" The article pointed out that while the technical picture looks bullish, the fundamentals remain weak and caution is warranted. I agree that the technical picture looks quite positive as the bulls seem to have regained their footing. On the other hand, respected investors and analysts such as John Hussman to David Rosenberg have been warning about the deteriorating economic backdrop. The price of … [visit site to read more]
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| Crude Oil Rises On Bargain Buying, Gold’s Fate In The Hands Of Investors Posted: 29 Jul 2010 09:02 PM PDT A very interesting week with regard to commodities saw crude oil inventories surge to levels just shy of 10-year highs and gold ETF holdings plummet 500,000 troy ounces. Nevertheless, the near-term outlook for both commodities is highly uncertain. Commodities - Energy Commentary: Oil rose $1.37, or 1.78% on Thursday, as traders used … [visit site to read more]
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| A Hard And Frustrating Day To Trade Posted: 29 Jul 2010 08:50 PM PDT As I am sure most of you readers will agree, it was a hard and frustrating day to trade. On days like, it is important not to overreact and not to overtrade. It is imperative to know what the support and resistance levels are on the indices and to focus on those levels, and treat the rest of the action as noise. Here is an updated version of the S&P chart that I posted yesterday. As you must have noticed, the support and resistance levels I had marked yesterday came into … [visit site to read more]
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| Watch Out For The Waterfall: Daily ETF Outlook (SPY, DIA, IWM, GLD, USO) Posted: 29 Jul 2010 08:47 PM PDT Instratrader Indicators: Yellow Flag: We Expect Choppy Prices Ahead Daily Technical Sentiment Indicators: Neutral Short Term Market Condition: Overbought (short term bearish) Short Term Trend: Up Medium Term Trend: Neutral Long Term Trend: Neutral % of Stocks Above 200 Day Moving Average/Daily Change: 56%/-5.9% % of Stocks Above 50 Day Moving Average/Daily Change: 71.4%/-5.4% Market … [visit site to read more]
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| S&P 500 Trapped Between Daily Moving Averages Posted: 29 Jul 2010 08:45 PM PDT Well that was interesting - the S&P 500 so far has played ping-pong between the 200 day SMA at 1,115 and the 50 day EMA at 1,094. Let’s look closely at these two levels which have become almost exactly today’s high and low price. Today underscores the importance of watching key daily moving averages in your intraday trading. On the current down-swing, you can know in advance that there may very will be intraday support at either the 20 or 50 day EMA, which rest at 1,089 and … [visit site to read more]
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| Outlook For The US Dollar And US Stock Market Posted: 29 Jul 2010 08:40 PM PDT Something significant happened today. The dollar broke through the 82 support zone. This is the first condition of three that will tell us if the almighty dollar is now caught in the clutches of the 3 year cycle decline. The other two are a break below 80 and the next intermediate cycle must turn out to be a left translated and failed cycle. But let’s start with the current daily action. First off a little cycle information. “Most” daily cycles (for the dollar) tend to run about … [visit site to read more]
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| From The “You Just Can’t Make This Stuff Up” File: ADA Vs. Chipotle; Happy 20th Birthday ADA Posted: 29 Jul 2010 08:20 PM PDT Washington Examiner, Investor’s Business Daily, Cato Institute, San Francisco Chronicle, and Reason. “The 9th U.S. Circuit Court of Appeals ruled this week that customers in wheelchairs are being denied the full ”Chipotle experience” of watching their food being prepared because Chipotle’s 45-inch counters are too … [visit site to read more]
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| Bullard, Deflation, And Quantitative Easing Posted: 29 Jul 2010 07:42 PM PDT Click here to see my CNBC interview today on St. Louis Fed President Bullard's comments on possible deflation and the potential need for more quantitative easing by the … [visit site to read more]
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| LAX Freight Traffic Back To Pre-Recession Level Posted: 29 Jul 2010 07:32 PM PDT According to data from Los Angeles World Airports (LAX), air freight cargo at LAX reached a 30-month high in May of 168,297 tons, the highest freight volume since November 2007, the month before the recession officially started. Air freight at LAX decreased slightly in June to 163,959 tons, but that was still a 19.2% improvement from a year earlier. Compared to the recent bottom of 113,205 tons in February 2009, freight traffic at LAX has rebounded by 45%. … [visit site to read more]
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| St. Louis Fed President Bullard, Deflation, And Quantitative Easing Posted: 29 Jul 2010 07:17 PM PDT Click here to see my CNBC interview today on St. Louis Fed President Bullard's comments on possible deflation and the potential need for more quantitative easing by the … [visit site to read more]
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| Singapore Stock Market Update For Friday 30 July Posted: 29 Jul 2010 06:31 PM PDT Morning Highlights Capitaland broke 3.91 New IPO : Consciencefood Holding limited
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| Posted: 29 Jul 2010 06:25 PM PDT It’s that time of year again, when the executives who spend the bulk of their time putting analyzing “the numbers” — the cash flowing into and out of company coffers — offer up their best guess about what the future holds. Most CFOs in the latest Duke/CFO survey have plans for growth, but … [visit site to read more]
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| Lack Of Stock Market Leadership Keeps Markets Stuck In Mud Posted: 29 Jul 2010 06:17 PM PDT With no leadership, (XLF) & (SMH) down, plus the Euro currency stuck in the mud, the market had really no catalyst to help any upside advance into the After Hours. Commodities, (DBA) (ETF w/ Corn, Soybeans, Wheat, and Sugar) continue to move to the upside, and while this could be potentially looking a little tired, those who missed this rally off the June lows may look to nibble on a pullback. In this earnings environment it is worth monitoring the peers that report in a sector … [visit site to read more]
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| Stock Picks For Friday 30 July: Intel, Sohu.com, Royale Energy, Akamai Technologies Posted: 29 Jul 2010 06:09 PM PDT ( click to enlarge ) Shares of Intel (NASDAQ:INTC) touched near the 200-day moving average from above but failed to break through the support line. If the stock price remains above this critical level, then investors may continue to buy the shares in anticipation of an upward price move. If shares of Intel fall below this major support line, the trend of the stock may change. INTC has been in a short-term downtrend since last week, but it might have finally found a bottom. Today, the … [visit site to read more]
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| Dividends You Want? Dividends You Get Posted: 29 Jul 2010 05:58 PM PDT Apparently,inflation that many expected with the government printing presses running red hot is not imminent or likely to appear soon. Many articles have been written about dividend explorations seeking companies that pay a regular dividend and will likely raise dividends a few cents per year. Sorry, that is not for me. I don’t want to wait eons for the dividend to show meaningful growth within my portfolio. And, with the present world order and Beltway economic geniuses working hard to … [visit site to read more]
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| Noble Energy Jumps On Volume Growth Posted: 29 Jul 2010 03:35 PM PDT Noble Energy Inc. (NYSE:NBL) reported adjusted earnings per share of $1.07 for the second quarter of 2010, which surpassed the Zacks Consensus Estimate of 74 cents as well as year-ago earnings of 66 cents. The outperformance was mainly driven by robust volume growth across the company’s businesses.
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| Meredith Outpaces Zacks Estimate Posted: 29 Jul 2010 03:35 PM PDT Meredith Corporation (NYSE:MDP), a leading media and marketing company, recently posted fourth-quarter 2010 results that exceeded the Zacks Estimate on the heels of improved advertising performance at its National and Local Media groups, increased readership and online traffic.
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| Stericycle Meets Zacks Estimate Posted: 29 Jul 2010 03:35 PM PDT Stericycle Inc. (NASDAQ:SRCL) delivered earnings per share of 62 cents in its second quarter ended June 30, 2010, at par with the Zacks Consensus Estimate, and up 19% from 52 cents in the year-ago quarter. In addition to growth fueled by acquisitions, Stericycle also posted healthy internal growth figures in both domestic and international operations.
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| Gentiva Beats, Ups Revenue Outlook Posted: 29 Jul 2010 03:20 PM PDT On July 29, 2010, Gentiva Health Services Inc. (NASDAQ:GTIV) reported its second-quarter income from continuing operations of $22.7 million or $0.74 per share, well ahead of the Zacks Consensus Estimate of $0.68. This also compares favorably with the income of $17.8 million or earnings of $0.61 in the year-ago quarter. The earnings ramped up due to strong growth in Hospice with somewhat softer Home Health Episodic volumes and progressive operating margins.
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| Three Forces That Could Ignite Natural Gas Posted: 29 Jul 2010 03:17 PM PDT Despite being sidelined for the most of the first half of the year, weather conditions, supply and demand imbalances, and Congress could lead to an opportunity in natural gas.
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| Three Reasons Silver Is Likely To Shine Posted: 29 Jul 2010 03:17 PM PDT Although gold continues to grab most of the attention in the precious metal world, its less glamorous sister, silver, may be more appealing and for good reason.
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| Posted: 29 Jul 2010 03:05 PM PDT Visa Inc.’s (NYSE:V) fiscal third-quarter earnings of 97 cents per share were substantially ahead of the Zacks Consensus Estimate of 93 cents.
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| Posted: 29 Jul 2010 03:05 PM PDT CME Group Inc.'s (NASDAQ:CME) second quarter operating earnings of $4.43 per share were substantially ahead of the Zacks Consensus Estimate of $4.30. Earnings for the reported quarter excluded a $20.5 million writedown of goodwill in relation to the company’s subsidiary, Credit Market Analysis Limited (CMA). GAAP earnings came in at $271.2 million or $4.11 per share, compared to $221.8 million or $3.33 in the year-ago quarter. CME Group's total revenue for the reported quarter increased 25.6% … [visit site to read more]
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| Posted: 29 Jul 2010 03:05 PM PDT Cerner Corp. (NASDAQ:CERN), a leading provider of healthcare information technology (HCIT) services, announced better-than-expected second-quarter results with adjusted earnings per share of 69 cents, topping the Zacks Consensus Estimate of 64 cents and the year-ago earnings of 55 cents. Adjusted earnings exclude stock-based compensation expenses of $3.6 million (or 4 cents per share). Net income soared 27% year-over-year to $55.5 million (or 65 cents a share). The results were driven by higher … [visit site to read more]
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| EQT Corp. Misses Zacks Estimates Posted: 29 Jul 2010 02:50 PM PDT EQT Corporation (NYSE:EQT), an integrated energy company with an emphasis on natural gas supply activities, posted weaker-than-expected second-quarter 2010 earnings of 20 cents per share, lower than the Zacks Consensus Estimate of 25 cents. However, earnings were in line with the year-earlier results. Operating revenue in the quarter increased 8.2% year over year to $257.5 million, compared with the Zacks Consensus Estimate of $244 million. Operating income rose more than 16% year over year to … [visit site to read more]
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| Posted: 29 Jul 2010 02:35 PM PDT Electricity and natural gas company Xcel Energy Inc. (NYSE:XEL) announced its operating earnings for the second-quarter 2010 of 29 cents per share versus 25 cents per share in the year-ago quarter, reflecting a growth of 16%. The results of the company were higher than the Zacks Consensus Estimate of 28 cents per share by a penny. Xcel Energy's GAAP earnings for the second quarter of 2010 were 30 cents per share versus 25 cents per share recorded in the year-ago period. The difference between … [visit site to read more]
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| Posted: 29 Jul 2010 02:35 PM PDT Cincinnati Financial Corp.'s (NASDAQ:CINF) second-quarter net income of 26 cents per share came ahead of the Zacks Consensus Estimate of 22 cents. Results were significantly better than the prior-year loss of 3 cents per share. Earnings were aided by an increase in investment income, coupled with a decline in property and casualty underwriting loss.
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| Posted: 29 Jul 2010 02:20 PM PDT Leading dental product maker DENTSPLY International (NASDAQ:XRAY) reported tepid second-quarter fiscal 2010 results with adjusted earnings per share of 50 cents coming in a penny below the Zacks Consensus Estimate and a cent above the year-ago adjusted earnings. Adjusted earnings exclude one-time items such as restructuring charges and tax-related adjustments. Net income edged up 3% year-over-year to $72.4 million (or 49 cents a share).
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| Posted: 29 Jul 2010 02:20 PM PDT Ball Corporation (NYSE:BLL) reported second-quarter 2010 income from continuing operations of $1.38 per share, beating the Zacks Consensus Estimate of $1.29 by 9 cents. The results were ahead of $1.14 per share reported in the prior-year quarter. Net income from continuing operations was $128.8 million, compared with $108.6 million in second-quarter 2009. Better-than-expected results were largely driven by volume increases across its packaging businesses, a strong Aerospace segment and accretive … [visit site to read more]
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| Record Revenues Don’t Help CONSOL Posted: 29 Jul 2010 02:05 PM PDT Coal producer CONSOL Energy Inc. (NYSE:CNX) posted earnings from continuing operations of 45 cents per share in the second quarter of 2010, which was way below the Zacks Consensus Estimate of 67 cents. The lower earnings in the quarter were a result of increased interest expense related to the acquisition of the Dominion Appalachian E&P assets.
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| Posted: 29 Jul 2010 01:50 PM PDT Celgene Corporation's (NASDAQ:CELG) second quarter 2010 earnings (excluding special items) of 69 cents per share was well above the year-ago earnings of 46 cents per share. The Zacks Consensus Estimate for the quarter was 60 cents per share. On a reported basis, the company earned 33 cents per share as opposed to 31 cents in the year-ago quarter. Total revenue for the reported quarter climbed 36% year-over-year to $853 million. The rise in total revenue was driven by strong sales of Celgene's … [visit site to read more]
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| Posted: 29 Jul 2010 01:50 PM PDT SCANA Corporation (NYSE:SCG) reported second-quarter 2010 earnings of 43 cents per share, below the Zacks Consensus Estimate as well as the year-ago earnings of 45 cents.
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| Posted: 29 Jul 2010 01:50 PM PDT Assurant Inc.'s (NYSE:AIZ) operating earnings for the second quarter came in at $1.35 per share, substantially ahead of the Zacks Consensus Estimate of $1.17. This also compared favorably with operating earnings of 84 cents per share recorded in the prior-year quarter. Earnings were boosted by higher premiums from the Employee Benefits and Specialty segments. Total revenue of $2.1 billion was in line with the Zacks Consensus Estimate, but declined 5.9% year over year. The fall was primarily due … [visit site to read more]
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| Neurocrine Looks Well Positioned Posted: 29 Jul 2010 01:35 PM PDT In June 2010, we upgraded our rating on Neurocrine Bio (NASDAQ:NBIX) to Outperform and established a price target of $9 per share. We regard the collaboration deal with Abbott Labs (NYSE:ABT) as a homerun. Neurocrine received $75 million upfront and has the potential to earn an additional $500 million in future milestones, of which CEO Kevin Gorman noted the "vast majority” are for development. This gives us confidence that Neurocrine will recognize a significant portion of these milestones prior to … [visit site to read more]
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| Posted: 29 Jul 2010 01:35 PM PDT A leading information management company, Iron Mountain Inc. (NYSE:IRM) reported strong second quarter 2010 results. Earnings excluding one-time items increased 12.0% year over year to 28 cents, beating the Zacks Consensus Estimate by three cents. The surprise was primarily attributable to the much stronger gross margins reported. Earnings on a GAAP basis plunged 53.5% year over year to 20 cents per share. This includes other expenses of 2 cents and a negative tax impact of 6 … [visit site to read more]
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| Posted: 29 Jul 2010 01:35 PM PDT Before markets opened today, Raytheon Company (NYSE:RTN), digesting the aftershocks of the recent cancellation of its U.K. e-Borders contract, reported earnings per share from continuing operations of 56 cents, less than half the year-ago quarterly earnings of $1.24. The Zacks Consensus estimate was $1.19 for the reported quarter. Excluding the impact of pension adjustment (9 cents) and the U.K. e-Border Agency program termination adjustment (71 cents), EPS came in at $1.36 per share, compared to … [visit site to read more]
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| Initiating Coverage Of Aastrom Bio Posted: 29 Jul 2010 01:35 PM PDT We are initiating coverage of Aastrom Biosciences (NASDAQ:ASTM) with a Neutral rating and $2.50 price target. Aastrom is pioneering the research effort on adult stem cells for therapeutic applications, specifically for the treatment of cardiovascular diseases such as critical limb ischemia (CLI) and dilated cardiomyopathy (DCM). Aastrom's approach involves expansion of a patient's own stem and progenitor cells outside of the body to generate a cell product with significantly increased numbers … [visit site to read more]
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| Wisconsin Energy Beats, Ups Outlook Posted: 29 Jul 2010 01:35 PM PDT Energy utility Wisconsin Energy Corporation (NYSE:WEC) reported its operating earnings for the second-quarter 2010 of 74 cents per share versus 53 cents per share in the year-ago quarter, reflecting a growth of 39.6%. The results of the company were 5 cents higher than the Zacks Consensus Estimate of 69 per share. The year-over-year earnings growth was driven by a return to normal weather and some additional income from the company’s Power the Future plan. GAAP earnings of Wisconsin Energy for … [visit site to read more]
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| Warren Buffett’s Favorite Economic Indicator - Weekly Rail Traffic - Maintains Steady Pace Posted: 29 Jul 2010 01:08 PM PDT WASHINGTON, D.C. – July 29, 2010 – “The Association of American Railroads today reported that rail traffic continues to maintain a steady pace with U.S. railroads originating 286,854 carloads for the week ending July 24, 2010, up 4.7 percent compared with the same week in 2009, but down 13.5 percent from pre-recession levels in 2008. Intermodal traffic totaled 230,443 trailers and containers, up 19.2 percent from the same week a year ago and down only 2.1 percent compared with 2008. … [visit site to read more]
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| Interpublic Beats Zacks Estimates Posted: 29 Jul 2010 12:50 PM PDT Interpublic Group of Companies Inc. (NYSE:IPG) has reported a net income of $105.3 million for the second quarter of fiscal 2010, significantly up from $20.9 million in the year-ago quarter. Earnings per share (EPS) also shot up to 15 cents from just 4 cents in the year ago quarter. EPS also surpassed the Zacks Consensus Estimate of 10 cents. The growth was attributable to increased revenues and strict control over costs.
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| Posted: 29 Jul 2010 12:50 PM PDT BMC Software (NYSE:BMC) reported first quarter 2011 earnings per share of 52 cents, missing the Zacks Consensus Estimate of 56 cents by 7.14%. The company delivered revenue of $461.0 million, below the Zacks Consensus revenue estimate of $474.0 million. Revenue Revenue of $461.0 million was up 2.4% from the year-ago period. The increase in revenue can be attributed to decent bookings growth. The company also continues to grow in other technology segments such as cloud computing, virtualization … [visit site to read more]
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| ViroPharma Beats; Raises Guidance Posted: 29 Jul 2010 12:35 PM PDT ViroPharma Inc. (NASDAQ:VPHM) posted second-quarter earnings of 37 cents per share, beating the Zacks Consensus Estimate by 7 cents and the year-ago figure by 10 cents. Higher Cinryze and Vancocin sales and lower research and development expenses helped boost second quarter 2010 earnings.
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| Posted: 29 Jul 2010 12:35 PM PDT Symantec Corporation (NASDAQ:SYMC) reported first quarter 2011 earnings per share of 35 cents, exceeding the Zacks Consensus Estimate of 32 cents. Revenue of $1.43 billion also exceeded the Zacks consensus of $1.25 billion. Revenue Symantec’s first quarter 2011 GAAP revenue was flat compared to $1.43 billion reported in the year-ago quarter. The sluggish performance is attributable to the cautious stance taken by the company's IT customers. Coming to business segments, Symantec's Consumer … [visit site to read more]
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| Posted: 29 Jul 2010 12:35 PM PDT Becton, Dickinson and Company (NYSE:BDX) announced third-quarter adjusted earnings per share of $1.29, beating the Zacks Consensus Estimate of $1.25 while falling short of the year-ago figure of $1.30.
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| Posted: 29 Jul 2010 12:35 PM PDT Akamai Technologies Inc. (NASDAQ:AKAM) reported second quarter 2010 earnings of 23 cents, missing the Zacks Consensus Estimate of 24 cents. Shares plunged more than 11% in morning trade on the Nasdaq. Earnings including stock based compensation but excluding onetime items increased 6.1% year-over-year, but decreased 5.3% sequentially. Revenue
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| Posted: 29 Jul 2010 12:35 PM PDT Emerging from the Global Slowdown The 2009 recession hit The LGL Group (LGL) as well as the electronics manufacturing industry hard. LGL, which relies on a single product line, was not immune to the weak economic environment as 2009 revenue fell 22.1% year over year. Despite the rough waters, however, the firm emerged stronger and leaner as cost structure was realigned, manufacturing was tapered to three global manufacturing plants and more high-end jobs were transferred overseas. U.S. … [visit site to read more]
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| Posted: 29 Jul 2010 12:20 PM PDT Waste Management Inc. (NYSE:WM) delivered adjusted earnings per share (EPS) of 54 cents in its second quarter ended June 30, 2010, in line with the Zacks Consensus Estimate and a 4% increase from 52 cents in the year-ago quarter. The year-over-year improvement was driven by growth in all of its businesses, disciplined focus on pricing and higher average recycling commodity prices.
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| Avon Products Beats The Street Posted: 29 Jul 2010 12:20 PM PDT Avon Products Inc.'s (NYSE:AVP) second-quarter GAAP earnings more than doubled to $167.6 million from $82.9 million in the year-ago period driven by higher sales and improved margins. Excluding special items, adjusted earnings came in at 48 cents per share, which topped both the Zacks Consensus Estimate of 45 cents and the year-ago result of 38 cents per share. Shares of Avon have gained more than 2% in morning trade on the New York Stock Exchange. Avon's total revenue increased 8.1% … [visit site to read more]
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| Dr Pepper Tops, Affirms Outlook Posted: 29 Jul 2010 12:05 PM PDT Dr Pepper Snapple Group Inc. (NYSE:DPS) reported first-quarter 2010 adjusted earnings of 74 cents per share, compared to 62 cents in the year-ago period. Quarterly earnings also topped the Zacks Consensus Estimate of 69 cents per share. During the quarter, Dr Pepper's net sales grew 2.6% year-over-year to $1.52 billion, narrowly missing the Zacks Consensus Estimate of $1.54 billion. The growth was mainly attributable to higher sales volume, favorable foreign currency translations and revenues … [visit site to read more]
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| Goodrich Surpasses, Raises Outlook Posted: 29 Jul 2010 12:05 PM PDT Goodrich Corporation (NYSE:GR) reported second-quarter 2010 net income of $1.24 per share, surpassing the Zacks Consensus estimate of $1.07 by 17 cents. Results compare favorably with $1.15 per share reported in the year ago period. Net income was $158.9 million compared with $145.9 million in second-quarter 2009.
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| Southwest Tops On Solid Traffic Posted: 29 Jul 2010 12:05 PM PDT On July 29, the low-cost carrier Southwest Airlines Co. (NYSE:LUV) declared its second-quarter 2010 adjusted earnings of 29 cents per share surpassing the Zacks Consensus Estimate of 26 cents and the year-ago earnings of 8 cents. The company reported its earnings before market opens. Higher business travel demand and strong traffic led to the better-than-expected earnings. Net income, excluding special items, shot up 266% year-over-year to $216 million driven by strong revenues partially offset … [visit site to read more]
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| Northrop Surpasses Zacks Estimate Posted: 29 Jul 2010 12:05 PM PDT Los Angeles-based leading shipbuilder and defense contractor Northrop Grumman Corporation (NYSE:NOC) reported impressive second quarter 2010 results of $2.34 per share, compared to $1.21 in the second quarter of 2009. Northrop results exceeded the Zacks Consensus Estimate of $2.19 for the quarter. The company's results reflect the impact of a tax benefit (97 cents) and a pre-tax charge related to consolidation of its shipbuilding operations (24 cents). Operational Performance Sales for the … [visit site to read more]
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| “Black Cross” And MTI: A Divergence Posted: 29 Jul 2010 08:13 AM PDT Remember the controversy back at the beginning of July when the S&P Index posted a “Black Cross” (the 50-dma crossing under the 200-dma). A Brandeis University professor had his five minutes of fame when he published a study concluding that the black cross was an unreliable indicator. The study was picked up by Mark Hulbert in the NYTimes and other media. Just the other day, Mebane Faber of the World Beta blog, renewed the debate by writing:
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| Singapore Stock Market Update For Thursday 29 July Posted: 29 Jul 2010 07:25 AM PDT Morning Highlights Osim broke 1.05 Corporate Announcements: Yangzijiang has received approval from the Taiwan Financial Supervisory Commission, Executive Yuan, the Securities and Futures Bureau for the offering and listing of TDR on the TSE. Keppel Corp has delivered its third multi-purpose platform supply & support vessel to … [visit site to read more]
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