Daily Markets - Supervalu Bottom Line Sinks
Daily Markets - Supervalu Bottom Line Sinks |
- Supervalu Bottom Line Sinks
- Positive Data On Onyx’ Carfilzomib
- Office Depot Posts Narrower Loss
- Earnings Preview: Celgene
- Transdel’s Near-Term Opportunity
- Anadarko Strikes Again In Ghana
- Earnings Preview: Vale SA
- A Supernova In Silver Is Fast Approaching
- AKS Beats Handily, Outlook Uncertain
- CSC Cloud Services For AMP
- ASA Staffing Index Shows Ongoing Strength: 28th Consecutive Weekly Gain Vs. Same Week Last Year
- Health Management Beats
- TMO Meets, Cuts Rev Guidance
- Talisman Beats Zacks Consensus
- Taxing The Rich
- Teva Q2 Earnings Tops
- Option Plays For 27 July: Genzyme, Xerox, Juniper Networks, Du Pont
- Startling Statistics Speak Volumes
- Earnings Preview: Southern Co.
- Earnings Scorecard: Rockwell Collins
- LEAP Bear Spreads: If You Want To “Go Short,” This Is The Way To Do It
- Earnings Scorecard: Yum!
- Home Prices Rise In May
- IBM Faces Anti-trust Probes
- Swiss Franc: Under Pressure
- Early Signs Of A Hotel Rebound
- Earnings Preview: Vale S.A.
- Shipping Rates For Hong Kong To LA Reach Five-Year Highs: Retailers Are Expecting Higher Sales
- DuPont Outperforms, Lifts Outlook
- BSX Launches Neurovascular Stent
- U.S. Steel Falls Far Short
- Earnings Preview: Tesoro Corp.
- Fifth Third’s Rating Outlook Raised
- Singapore Stock Market Update For Tuesday 27 July
- Microsemi Beats Zacks Consensus
- Range Slips Despite Higher Volumes
- Australian Dollar: The Downside Prevails
- Canadian Dollar: Under Pressure
- Japanese Yen: Caution
- British Pound: Under Pressure
- Euro: The Downside Prevails
- Climbing Out Of The Boxes With REITs
- The Pound Un-Stressed
| Posted: 27 Jul 2010 12:00 PM PDT Supervalu Inc. (NYSE:SVU), one of the largest grocery chains in the United States, delivered diminutive earnings for the first quarter of fiscal 2011. Quarterly earnings of 43 cents a share plunged 22% compared with 55 cents posted in the year-ago period. However, the earnings result outpaced the Zacks Consensus Estimate by a penny. On a reported basis, including one-time items, earnings came in at 31 cents a share versus 53 cents delivered in the prior-year quarter. Supervalu re-affirms fiscal … [visit site to read more]
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| Positive Data On Onyx’ Carfilzomib Posted: 27 Jul 2010 12:00 PM PDT Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) recently presented positive top-line results on its multiple myeloma candidate, carfilzomib. Results from the phase IIb study showed that patients treated with carfilzomib achieved an overall response rate of 24%. While the median duration of response was 7.4 months, the clinical benefit rate was 36%. Onyx Pharma said that carfilzomib was well-tolerated with no unexpected or new toxicities being observed. Onyx Pharma will present full data from the study at … [visit site to read more]
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| Office Depot Posts Narrower Loss Posted: 27 Jul 2010 11:45 AM PDT Office Depot Inc. (NYSE:ODP) recently posted improved second-quarter 2010 results. The quarterly loss of 7 cents a share portrayed a substantial improvement from a loss of 22 cents witnessed in the prior-year quarter, and also fared far better than the Zacks Consensus Estimate of a loss of 17 cents. Despite a mid-single digit decline in the top-line, the office supplies retailer was able to narrow its bottom-line loss on the heels of cost containment. Cost of goods sold and occupancy costs fell … [visit site to read more]
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| Posted: 27 Jul 2010 11:45 AM PDT Celgene Corp. (NASDAQ:CELG) is scheduled to report its second quarter 2010 results on Wednesday, July 29, before the opening bell. The Zacks Consensus Estimate for the quarter is earnings of 60 cents per share (with an upside of 3.33%), compared with earnings of 46 cents in the year-earlier period. The Zacks Consensus Estimate for second-quarter 2010 revenues is $821 million as against $629 million reported in the year-ago quarter. First-Quarter Recap Celgene's first quarter 2010 earnings … [visit site to read more]
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| Transdel’s Near-Term Opportunity Posted: 27 Jul 2010 11:35 AM PDT Ketotransdel the Driving Force Last month, we initiated coverage of Transdel Pharmaceuticals (TDLP) with an Outperform rating and price target of $2.50 per share. We believe that TDLP-110, currently known as Ketotransdel, has the potential to be a meaningful share gainer in the treatment of acute soft tissue pain. We even expect use off-label for the treatment of osteoarthritis (OA) and musculoskeletal pain. Ketotransdel (10% w/w ketoprofen transdermal cream) has significant advantages in … [visit site to read more]
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| Anadarko Strikes Again In Ghana Posted: 27 Jul 2010 11:35 AM PDT Texas-based, Anadarko Petroleum Corporation (NYSE:APC) announced a major discovery of approximately 174 net feet of high quality oil in two zones at the Owo prospect in the Deepwater Tano Bloc, located offshore Ghana. The well drilled to a depth of 12,765 feet produced light crude oil between 33 and 36 degrees API.
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| Posted: 27 Jul 2010 11:35 AM PDT Brazilian miner, Vale S.A. (VALE) is slated to report its second-quarter 2010 results on Wednesday, July 28, 2010, ahead of the opening bell. The company has not released any financial forecast for the quarter or the fiscal year 2010. The Zacks Consensus Estimate on the company’s earnings is currently pegged at 80 cents per share, more than five times the EPADR of 15 cents reported in the year-ago quarter and more than double of the EPADR of 30 cents in the previous quarter. The Zacks … [visit site to read more]
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| A Supernova In Silver Is Fast Approaching Posted: 27 Jul 2010 11:34 AM PDT The stage is set for a silver price percentage gain of extraordinary magnitude! Forget the popular refrain of “Got Gold?” and add a substantial quantity of silver to your portfolio to take advantage of the coming silver supernova! The facts below are reasons why: a) Diminishing Supply: Increasing Demand
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| AKS Beats Handily, Outlook Uncertain Posted: 27 Jul 2010 11:20 AM PDT AK Steel Holding Corporation (NYSE:AKS) posted net income of $26.7 million or 24 cents per share in the second quarter of 2010, reversing loses of $47.2 million or 43 cents in the year-ago quarter. Excluding one-time charges related to iron ore purchases, AK Steel earned $37.4 million or 34 cents per share, beating the Zacks Consensus Estimate of 7 cents by almost five-fold. Revenues Quarterly revenues more than doubled to $1.6 billion, surpassing the Zacks Consensus Estimate of $1.5 billion, … [visit site to read more]
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| Posted: 27 Jul 2010 11:20 AM PDT Virginia-based software major Computer Sciences Corp. (NYSE:CSC) will provide one of its cloud-based services to an Australian wealth management company called AMP. AMP, a leading wealth management service provider in Australia and New Zealand, supplies retail and corporate superannuation as well as retirement income products. As per the agreement, CSC will provide AMP with its Collaborative Online Services (COS), which is basically its cloud-based email and collaboration solution. AMP is … [visit site to read more]
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| ASA Staffing Index Shows Ongoing Strength: 28th Consecutive Weekly Gain Vs. Same Week Last Year Posted: 27 Jul 2010 11:02 AM PDT After falling during the week of July 5 due to the Fourth of July holiday, the American Staffing Association (ASA) Staffing Index for temporary and contract employment activity rebounded for the week of July 12 to a level of 91, matching the recent 91 readings for the weeks of June 14 and June 21. These recent readings of 91 for the ASA Staffing Index are the highest since October 2008, 20 months ago (see top chart above). This marks the 13th week … [visit site to read more]
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| Posted: 27 Jul 2010 11:00 AM PDT Health Management Associates (NYSE:HMA) reported second quarter 2010 earnings per share of 16 cents, beating the Zacks Consensus Estimate of 15 cents, as well as the year-ago result of 13 cents. Revenues Health Management's total revenue grew 10% year-over-year to $1,247.8 million. Net sales from continuing operations, on a consolidated basis, increased 10.3% on a year-over-year basis. Operational Statistics On a continuing operations basis, Health Management's, occupancy dipped to 43.8% … [visit site to read more]
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| Posted: 27 Jul 2010 10:45 AM PDT Thermo Fisher Scientific (NYSE:TMO) reported an EPS of 57 cents in the second quarter of 2010 compared to 49 cents in the year-ago period. However, after adjusting for certain one-time items, the EPS was 84 cents, meeting the Zacks Consensus Estimate and 14% higher than the second quarter of 2009. The company reported revenues of $2.65 billion, up 7% compared to the year-ago quarter. Acquisitions had a positive impact of 3% on revenues while unfavorable foreign exchange (forex) movement brought … [visit site to read more]
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| Talisman Beats Zacks Consensus Posted: 27 Jul 2010 10:30 AM PDT Canadian energy explorer Talisman Energy Inc. (NYSE:TLM) reported better-than-expected second quarter 2010 results, helped by higher commodity prices. Earnings per share from continuing operations, excluding non-operating items, came in at 13 Canadian cents (13 cents), above the Zacks Consensus Estimate of 9 cents and in-line with the year ago profit. Revenue of C$1.6 billion was up 5.0% from the second quarter 2009 level. Volume Analysis Total production during the quarter was down … [visit site to read more]
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| Posted: 27 Jul 2010 10:20 AM PDT Long ago and far away I taught economic principles and money and banking in night school. Since those three-hour classes came after long hours in my day job, I must admit—against interest as the lawyers say—that I tended to emphasize things that were easier to teach. Nothing was easier than simple Keynesian relationships because of the precision of their arithmetic.
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| Posted: 27 Jul 2010 10:19 AM PDT Long ago and far away I taught economic principles and money and banking in night school. Since those three-hour classes came after long hours in my day job, I must admit—against interest as the lawyers say—that I tended to emphasize things that were easier to teach. Nothing was easier than simple Keynesian relationships because of the precision of their arithmetic.
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| Posted: 27 Jul 2010 10:15 AM PDT Teva Pharmaceutical Industries' (NASDAQ:TEVA) second quarter earnings of $1.08 per American Depository Share (ADS) was above the Zacks Consensus Estimate of $1.04 and the year-ago earnings of 83 cents. Teva's top-line performance remained strong with revenues increasing 11.8% to $3.8 billion, in-line with the Zacks Consensus Estimate. Strong sales of Copaxone and generics helped drive revenues. Quarterly Details Revenue performance across key business segments was strong. While Pharmaceutical … [visit site to read more]
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| Option Plays For 27 July: Genzyme, Xerox, Juniper Networks, Du Pont Posted: 27 Jul 2010 10:10 AM PDT Genzyme Corp. (NASDAQ:GENZ) - Shares of the world’s largest maker of drugs for rare genetic diseases are down slightly by 0.35% to arrive at $67.16 as of 11:55 am (ET) after earlier rallying 1.25% to briefly touch a new 52-week high of $68.23. This marks a 27.7% increase in its share price since the end of last week, a rally fueled by mounting speculation the firm might be taken over by a larger company, namely, Sanofi-Aventis. One cautious options strategist initiated a three-legged spread in … [visit site to read more]
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| Startling Statistics Speak Volumes Posted: 27 Jul 2010 10:05 AM PDT Thanks to a good friend of Sense on Cents for sharing an array of truly startling statistics about the distribution of wealth in our nation today. These stats are embedded in a recent article which ran at Yahoo Finance entitled, The Middle Class in America Is Radically Shrinking. Let's review the statistics first and add comments later: • 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
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| Earnings Preview: Southern Co. Posted: 27 Jul 2010 10:05 AM PDT One of the largest electric utility holding companies in the U.S., Southern Company (NYSE:SO) is expected to report its second-quarter 2010 earnings on Wednesday, July 28, 2010, before the market opens. The Zacks Consensus Estimate for the second quarter is 59 cents per share.
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| Earnings Scorecard: Rockwell Collins Posted: 27 Jul 2010 10:05 AM PDT Rockwell Collins Inc. (NYSE:COL), a supplier of avionics and military equipment, posted earnings barely better than expected for the third-quarter 2010 ending on June 30. Support came from recovery in the commercial airspace market and steady progress in defense business.
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| LEAP Bear Spreads: If You Want To “Go Short,” This Is The Way To Do It Posted: 27 Jul 2010 09:56 AM PDT Tuesday, July 27, 2010: Issue #1310 Liquidity: When you want to short … [visit site to read more]
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| Posted: 27 Jul 2010 09:50 AM PDT Yum! Brands Inc. (NYSE:YUM), a leading worldwide hospitality company, posted better-than-expected, second-quarter 2010 results on July 13, 2010, driven by its robust performance in the China division. The recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for both the short-term and the long-term outlook on the stock are covered in depth below.
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| Posted: 27 Jul 2010 09:30 AM PDT The Case Schiller Home Price Indexes were generally higher in May. On a seasonally adjusted basis (and there is significant seasonality to home prices, so looking at the unadjusted numbers the way that most of the media does is a serious mistake) both the Composite 20 (C20) and Composite 10 (C10) indexes rose by 0.47% for the month. On a year-over-year basis, the C-20 is up 4.63% and the C10 is up 5.44%. The C10 is a subset of the C20, but has a longer history. The first graph below (from … [visit site to read more]
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| Posted: 27 Jul 2010 09:30 AM PDT The European Union (EU) has accused International Business Machine Corp. (NYSE:IBM) of violating anti-trust guidelines and misusing its dominant position in the Mainframe computer market. The European Commission, the executive arm of European Union, has launched two anti-trust probes against IBM.
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| Posted: 27 Jul 2010 09:18 AM PDT |
| Early Signs Of A Hotel Rebound Posted: 27 Jul 2010 09:05 AM PDT From today’s NY Times: “The hotel industry in the United States appears to be rebounding this summer, mainly because of strengthening business travel.” Add this to Larry Kudlow’s Optimism … [visit site to read more]
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| Posted: 27 Jul 2010 09:00 AM PDT Brazilian miner, Vale S.A. (VALE) is slated to report its second-quarter 2010 results on Wednesday, July 28, 2010, ahead of the opening bell. The company has not released any financial forecast for the quarter or the fiscal year 2010. The Zacks Consensus Earnings Estimate is 80 cents per share, more than five times the EPADS of 15 cents reported in the year-ago quarter and more than double of the EPADS of 30 cents in the previous quarter. The Zacks Consensus Sales Estimate of $11, 275 … [visit site to read more]
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| Shipping Rates For Hong Kong To LA Reach Five-Year Highs: Retailers Are Expecting Higher Sales Posted: 27 Jul 2010 08:56 AM PDT NY Times — “Fighting for freight, retailers are outbidding each other to score scarce cargo space on ships, paying two to three times last year's freight rates — in some cases, the highest rates in five years. And still, many are getting merchandise weeks late. The fight for space means many retailers are expecting higher sales, which is a glimmer of good news. And air carriers are picking up some last-minute shipments from desperate retailers; FedEx reported on Monday that it expected … [visit site to read more]
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| DuPont Outperforms, Lifts Outlook Posted: 27 Jul 2010 08:45 AM PDT As anticipated, chemical giant EI DuPont de Nemours & Company (NYSE:DD) recorded robust growth in revenues and earnings in the second quarter of 2010. DuPont recorded a near three-fold increase in quarterly earnings to $1.20 billion or $1.76 per share versus $400 million or 46 cents in the second quarter of 2009. Excluding non-recurring charges, the company earned $1.1 billion or $1.17 per share, outpacing the year-ago earnings of 61 cents and the Zacks Consensus estimate of 94 cents. Higher … [visit site to read more]
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| BSX Launches Neurovascular Stent Posted: 27 Jul 2010 08:45 AM PDT Recently, Boston Scientific Corporation (NYSE:BSX) launched its fourth generation Neuroform EZ Stent System in the US and Europe, used for the advanced treatment of wide-necked aneurysms. The Neuroform EZ adjunctive Stent System offers flexibility with advanced treatment options for complex brain anatomy. The launch of the Neuroform EZ adjunctive Stent System expands the product portfolio of Boston Scientific's Neurovascular division, which includes a line of catheters used in thrombolysis and … [visit site to read more]
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| Posted: 27 Jul 2010 08:30 AM PDT The leading steel manufacturer in the U.S. and the fifth largest in the world, United States Steel Corp. (NYSE:X), delivered adjusted earnings per share (EPS) of 45 cents in its second quarter ended June 30, 2010, which fell short of the Zacks Consensus Estimate of 63 cents. EPS in the quarter was in stark contrast to the adjusted loss of $3.23 in the year-ago quarter. Revenues and shipments more than doubled, leading to the year-over-year improvement. The EPS of 45 cents, however, excluded a … [visit site to read more]
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| Earnings Preview: Tesoro Corp. Posted: 27 Jul 2010 08:30 AM PDT Independent refiner Tesoro Corporation (NYSE:TSO) is scheduled to report its second quarter 2010 results on Wednesday, July 28, after the closing bell.
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| Fifth Third’s Rating Outlook Raised Posted: 27 Jul 2010 08:30 AM PDT Last Friday, Standard & Poor’s Rating Services (S&P) raised the rating outlook of Fifth Third Bancorp (NASDAQ:FITB) to “Stable” from “Negative” on the back of improved credit quality. The rating agency has also affirmed its “BBB” long-term counterparty credit rating and “BBB+” rating on its banking subsidiaries.
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| Singapore Stock Market Update For Tuesday 27 July Posted: 27 Jul 2010 08:23 AM PDT Morning Highlights Tiger Airway broke 1.98 Parkway broke 3.92 OCBC Investment Research on Tuesday advised shareholders of Parkway Holdings to accept the general offer of $3.95 (US$2.90) a share by Malaysian sovereign wealth Khazanah Nasional. Watch out for Economic News Release … [visit site to read more]
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| Microsemi Beats Zacks Consensus Posted: 27 Jul 2010 08:20 AM PDT Microsemi Corporation's (MSCC) third quarter earnings for fiscal 2010 exceeded the Zacks Consensus Estimate by 11 cents.
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| Range Slips Despite Higher Volumes Posted: 27 Jul 2010 08:20 AM PDT Range Resources Corp. (NYSE:RRC) has reported weaker-than-expected second quarter earnings of 9 cents per share, compared with the Zacks Consensus Estimate of 12 cents and year-earlier earnings of 21 cents. Total revenue in the quarter increased 7.4% year over year to $206.8 million, compared with the Zacks Consensus Estimate of $229 million.
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| Australian Dollar: The Downside Prevails Posted: 27 Jul 2010 08:18 AM PDT |
| Canadian Dollar: Under Pressure Posted: 27 Jul 2010 08:18 AM PDT |
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| Climbing Out Of The Boxes With REITs Posted: 27 Jul 2010 08:18 AM PDT It’s as if the powers that be down on Wall Street read my last posting and decided that the second of the four nested trading range boxes was as good a place as any to pause in the very early phases of an upside move.
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| Posted: 27 Jul 2010 08:17 AM PDT Fundamentals
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