Tuesday, August 24, 2010

Daily Markets - AUD/USD Shows Bearishness In Channel

Daily Markets - AUD/USD Shows Bearishness In Channel

AUD/USD Shows Bearishness In Channel

Posted: 24 Aug 2010 09:43 AM PDT

Price action on AUD/USD (a 4-hour chart of which is shown) as of Tuesday (8/24/2010) has tentatively dropped below 0.8850 support to establish a new one-month low, before correcting back up. This occurs after price came down from another re-test of the top of a new parallel downtrend channel extending from the early August 0.9220 peak. Having reached a low today just below 0.8800 and potentially confirming a downtrend continuation, any re-break below this level should target key further … [visit site to read more]

The Euro Could Again Take Another Hit Against The US Dollar

Posted: 24 Aug 2010 09:39 AM PDT

Good day FX friends! Here’s an update on the EURUSD which I posted last August 17 (please see my previous blog here).

In that post, I mentioned the possibility of the euro breaking out to the upside. It turns out that I was wrong as the EUR, instead of moving north, slid and broke down. As you can see from its chart, it appears that the euro’s recent rally over the greenback is over. After breaking out from an inverted head and shoulders pattern, the fiber or the EURUSD pair managed … [visit site to read more]

More Shale Joint Ventures Ahead

Posted: 24 Aug 2010 09:35 AM PDT

An increasing trend in developing natural gas resources through joint ventures (JVs) can be noticed across the North American markets. Several industry players are prioritizing JVs over other sources of capital for property development.
 
SM Energy Company (NYSE:SM), formerly known as St. Mary Land & Exploration Company, intends to raise $300–$500 million over the next one year via assets sale and JVs. For these, SM Energy looks at various non-core assets and its stake at Marcellus … [visit site to read more]

Royal Caribbean Remains At Neutral

Posted: 24 Aug 2010 09:35 AM PDT

We reiterate our Neutral rating on Miami based Royal Caribbean Cruises Ltd (NYSE:RCL), the second largest company in the cruise vacation industry.
 
Second Quarter Performance
 
Royal Caribbean Cruises reported second quarter 2010 non-recurring earnings of 28 cents per share, which was well ahead of Zacks Consensus Estimate of 19 cents and the year-earlier quarter's loss of 22 cents.
 
Total revenue in the quarter jumped 23.1% year over year to $1.60 billion, almost in line with … [visit site to read more]

Boeing Bids For Air Force Contract

Posted: 24 Aug 2010 09:35 AM PDT

Defense contractor The Boeing Company (NYSE:BA) and team member ProActive Technologies LLC of Orlando, Florida have submitted a bid for the U.S. Air Force’s B-52 Training System Contractor Logistics Support (CLS) program.
 
Under the contract, the companies are expected to provide program management and on-site CLS to operate, maintain, sustain and upgrade training devices located at Barksdale Air Force Base, Los Angeles, and Minot Air Force Base, North Dakota.
 
ProActive will be the … [visit site to read more]

Yahoo Grabs Search Market Share

Posted: 24 Aug 2010 09:05 AM PDT

Yahoo's (NASDAQ:YHOO) share in the Web-search market grew nearly half a percentage point in July, but Google Inc. (NASDAQ:GOOG), despite losing the ground to Yahoo, maintained its dominance in the U.S. search engine market, as shown by figures released by Internet market research company comScore Inc.

Search engines make money when users click on the text ads placed beside search results. Web queries are an important element in helping search engine optimization and web advertising firms decide where … [visit site to read more]

GE Gets LNG Contract

Posted: 24 Aug 2010 09:05 AM PDT

The Oil & Gas business of General Electric Co. (NYSE:GE) has entered into a supply and service agreement for the development of Papua New Guinea (PNG) LNG project. The project involves improvement of gas production and processing facilities of the plant. The project also includes development of onshore and offshore pipelines and liquefaction facilities with annual capacity of 6.6 million tons.
 
The company will be providing long-term service to PNG LNG and will deliver PGT25+G4 gas … [visit site to read more]

QLogic Gains Market Share

Posted: 24 Aug 2010 09:05 AM PDT

QLogic Corporation (NASDAQ:QLGC) announced that the company has gained share in the 10 Gigabit Ethernet adapter market for the fifth consecutive quarter, ending June 2010. QLogic is a leading designer and supplier of storage networking, server networking, data networking and converged networking infrastructure solutions.
 
According to data published by market researchers – Dell'Oro Group, QLogic has 15.7% share in the 10 Gigabit Ethernet adapter market and enjoys the second spot next to … [visit site to read more]

Alternative Housing Finance: How Does “SwapRent” Work

Posted: 24 Aug 2010 08:58 AM PDT

Our nation rests on a foundation of entrepreneurial risk taking. I am a strong proponent that our government should work to promote those who have the minds and spirit to take risk and drive our nation's future economic growth ever higher. That spirit has brought us untold gains over the years. We need to continue to tap into that spirit whenever and wherever we can. On a day in which we just reported that existing home sales dropped 27% in the month of July, I believe it is timely … [visit site to read more]

Forex Trading: USDJPY Breaks Above 84.24 And Stops Ignited.

Posted: 24 Aug 2010 08:45 AM PDT

Note: There is a file embedded within this post, please visit this post to download the file.The 84.45 level is the next target for the … [visit site to read more]

Baxter And Kamada In GLASSIA Deal

Posted: 24 Aug 2010 08:35 AM PDT

Medical product giant Baxter International Inc. (NYSE:BAX) has entered into a definitive distribution agreement with Israel-based biopharmaceuticals company Kamada Ltd. Under the deal, it has secured exclusive marketing rights to Kamada's GLASSIA Alpha 1-Proteinase inhibitor in the U.S., Canada, Australia and New Zealand. .
 
GLASSIA, the first and only liquid, ready-to-use Alpha1-Proteinase inhibitor, is indicated for the treatment of emphysema (a lung disease) due to Alpha 1 deficiency, … [visit site to read more]

CBG Offers Advisory Service To UTX

Posted: 24 Aug 2010 08:35 AM PDT

CB Richard Ellis Group Inc. (NYSE:CBG), the world's largest commercial real estate firm (on the basis of 2009 revenue), was recently selected by United Technologies Corp. (NYSE:UTX) as its preferred service provider across its property portfolio in Europe, the Middle East, Africa and Russia. CB Richard Ellis will provide transaction management, brokerage and strategic real estate advisory services to United Technologies with immediate effect.
 
Under the terms of the agreement, CB Richard … [visit site to read more]

LRY Gets LEED Gold Certificate

Posted: 24 Aug 2010 08:35 AM PDT

Liberty Property Trust (NYSE:LRY), a leading real estate investment trust (REIT), was recently accredited with Leadership in Energy and Environmental Design (LEED) Gold certification from the U.S. Green Building Council for its 211,000 square feet Maitland Summit III building in Orlando, Florida. This is the first LEED-certified development project of the company in the city.
 
LEED is an internationally recognized third-party green building certification system, which ensures that a building … [visit site to read more]

Australian Dollar: The Downside Prevails

Posted: 24 Aug 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Caution

Posted: 24 Aug 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Large Supplies, Slow Demand Sink Crude

Posted: 24 Aug 2010 08:17 AM PDT

Fundamentals
Crude Oil futures have suffered losses recently, due to demand concerns and stockpiling in the US. The slowing economic recovery has caused many market observers to cut their demand outlook for the foreseeable future. The question of whether the US and global economies are heading for a double-dip recession remains unanswered at the moment. While the recovery has really lost quite a bit of steam recently, there are no signs that the economy will be contracting. This could limit the … [visit site to read more]

Forex Trading: USDJPY Rallies Back Up To Trendline Resistance

Posted: 24 Aug 2010 08:12 AM PDT

The 84.06 level is the trendline that was broken earlier today.  In an ironic twist the weaker US data has been ignored and the USDPJPY is back up testing this key level. A move above the level may solicit more short covering as it isn't doing what the market likely expected it to do.  So watch a move above.  The next target for the pair above  the 84.06 level would be 84.24 where the 100 bar MA on the 5 minute chart and the 38.2% retracement of the recent move down is … [visit site to read more]

Forex Trading: GBPUSD Holds 200 Day MA But Stays Above Intraday Support

Posted: 24 Aug 2010 08:05 AM PDT

GBPUSD has risen to test the key 200 day MA on the weaker dollar post the Existing Home Sale data.  The high has reache 1.5478.  The 200 day MA is 1.5476.  A move above this level will likely lead to further buying. ON the downside, a move toward 1.5428-32 has support from trendline and the 200 bar MA on the 5 minute chart.  Look for buyers against this level with sellers on a break below the level.  The GBPUSD is wrestling with direction but is respecting the key … [visit site to read more]

PTR And Shell Take Over Arrow

Posted: 24 Aug 2010 08:05 AM PDT

PetroChina Company Limited (NYSE:PTR) announced the successful completion of the acquisition of Arrow Energy Limited ("Arrow") along with Royal Dutch Shell (RDS.A). The deal was approved by the board of Arrow and Chinese and Australian governmental authorities, almost five months after the announcement of the acquisition in March.
 
As per the announcement, PetroChina International Investment Company Ltd ("PetroChina"), a subsidiary of PetroChina Company Limited, and Shell Energy … [visit site to read more]

Narus Exit Adds $3M To American Cap

Posted: 24 Aug 2010 08:05 AM PDT

Yesterday, American Capital Ltd. (NASDAQ:ACAS) reported that late last month, the company sold the software producing unit Narus to Boeing Co. (NYSE:BA) for $12 million. The company realized a gain of $3 million on this transaction during the third quarter.
 
Headquartered in Sunnyvale, California, Narus is a leading software provider for protection against cyber attacks and persistent threats targeted at large Internet Protocol networks.
 
According to American Capital, the compounded … [visit site to read more]

Panasonic Strengthens Chinese Base

Posted: 24 Aug 2010 08:05 AM PDT

A leading manufacturer of electronic and electrical products, Panasonic Corp. (PC) announced to move a part of its plasma display panel (PDP) production facility based in Amagasaki, Japan to Panasonic Plasma Display (Shanghai) Co. Ltd. (PPDS) in Shanghai, China.
 
The PDP plant in Amagasaki City, near Osaka is Panasonic's third domestic PDP plant. This transfer will boost Panasonic's market position by producing PDP in the rapidly growing Chinese market and meet the rising demand for … [visit site to read more]

Forex Trading: GBPUSD Tests Key 200 Day MA Level At 1.5476

Posted: 24 Aug 2010 07:39 AM PDT

Forex Trading: EURUSD Rallies On Weak Housing As Dollar Selling Dominates

Posted: 24 Aug 2010 07:22 AM PDT
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