Friday, August 13, 2010

Daily Markets - Australian Dollar: The Downside Prevails

Daily Markets - Australian Dollar: The Downside Prevails

Australian Dollar: The Downside Prevails

Posted: 13 Aug 2010 08:18 AM PDT

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


Canadian Dollar: The Downside Prevails

Posted: 13 Aug 2010 08:18 AM PDT

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

Running Out Of Patience?

Posted: 13 Aug 2010 08:17 AM PDT

Fundamentals
That is most likely the mood of Natural Gas bulls, as neither a hot spell in the northeastern portions of the U.S. nor a below average injection into storage last week could keep prices from testing recent lows. Yesterday’s weekly EIA gas storage report showed that only 37 billion cubic feet (bcf) of gas was put into storage last week, which is well below the 63 bcf put into storage this time last year and also below the 5-year average of 39 bcf, as demand for cooling has increased … [visit site to read more]

Earnings Scorecard- CF Industries

Posted: 13 Aug 2010 08:05 AM PDT

Fertilizer company, CF Industries Holdings Inc's (NYSE:CF) second quarter 2010 results fell short of analysts' expectation. Results missed the Zacks Consensus Estimate by a significant 65 cents. However, CF's shares rallied on Terra Industries acquisition that concluded in the beginning of the last month.
 
Terra Acquisition
 
After a year-long battle, CF Industries has finally acquired its Iowa-based rival Terra Industries, and now owns more than 90% of Terra. CF had been wooing … [visit site to read more]

Brinker Misses Zacks Estimate

Posted: 13 Aug 2010 08:05 AM PDT

Brinker International Inc. (NYSE:EAT) posted fourth quarter and full year 2010 adjusted earnings per share of 44 cents and $1.18, respectively, which fell short of the Zacks Consensus Estimates of 46 cents for the fourth quarter and $1.22 for fiscal 2010.
 
On a GAAP basis, the owner of the Chili's Grill & Bar and Maggiano’s Little Italy reported fourth quarter earnings of 62 cents per share, which soared 51% from 41 cents posted in the prior-year quarter.  The upside in … [visit site to read more]

Earnings Scorecard: HCP

Posted: 13 Aug 2010 08:05 AM PDT

HCP Inc. (NYSE:HCP), a health care real estate investment trust (REIT), reported funds from operations of 55 cents per share for the fiscal 2010 second quarter, which exceeded the Zacks Consensus Estimate by a penny. 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.
 
We cover below the results of the recent earnings announcement, subsequent analyst estimate … [visit site to read more]

Earnings Scorecard: AvalonBay

Posted: 13 Aug 2010 08:05 AM PDT

AvalonBay Communities Inc. (NYSE:AVB), a leading real estate investment trust (REIT), reported fiscal 2010 second quarter funds from operations (FFO) of $1.04 per share, which exceeded the Zacks Consensus Estimate by 4 cents. 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.
 
We cover below the results of the recent earnings announcement, as well as the subsequent … [visit site to read more]

Forex Trading: EURUSD Longs Having A Nervous Breakdown As Key Support Is Breached

Posted: 13 Aug 2010 07:58 AM PDT

The longs in the EURUSD are have a nervous BREAK DOWN as support at the 100 day MA and the 38.2% Fibo level at 1.2776 gives way. The next target is the 1.2742 level which is the 50% of the move up from the June 29th low. The technical picture is further deteriorating for the EURUSD in what is a downright bearish week for the pair. For the complete story, click … [visit site to read more]

Debt And Growth Revisited VoxEu

Posted: 13 Aug 2010 07:48 AM PDT

By Carmen M. Reinhart Kenneth Rogoff co-authors of the spectacular, and best selling book This Time Is Different: Eight Centuries of Financial Folly

With the advanced economies at a critical juncture, some economists are urging more fiscal stimulus while others argue that raising debt levels will stunt growth. This column presents the Reinhart-Rogoff findings on the relationship between debt and growth based on data from 44 countries over 200 years with a focus on the debt-growth link … [visit site to read more]

Mixed Quarter For Wendy’s/Arby’s

Posted: 13 Aug 2010 07:35 AM PDT

Wendy's/Arby's Group Inc. (NYSE:WEN) posted second-quarter 2010 adjusted earnings of 7 cents per share, which topped the Zacks Consensus Estimate of 5 cents. Including one-time items, Wendy's/Arby's posted quarterly net income of $10.7 million, well below $14.9 million recorded in the year-earlier quarter. However, reported earnings of 3 cents per share remained flat year over year.
 
Total revenue in the quarter tumbled 3.8% year over year to $877.0 million and lagged the Zacks … [visit site to read more]

Red Robin Misses, Trims Outlook

Posted: 13 Aug 2010 07:35 AM PDT

Casual dining restaurant operator Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) recently reported its second quarter 2010 results. Quarterly earnings of 28 cents per share missed the Zacks Consensus Estimate of 37 cents and were down 32.0% from 41 cents last year.
 
The second quarter results were hurt as 25.0% of Red Robin restaurants are located in California and Arizona, which are facing the brunt of the economic slowdown. These markets have a high unemployment rate; thus traffic has sagged … [visit site to read more]

Earnings Scorecard: Magellan Midstream Partners

Posted: 13 Aug 2010 07:35 AM PDT

Earlier this month, Magellan Midstream Partners L.P. (NYSE:MMP) – a master limited partnership – announced its financial results for the second quarter ended June 30, 2010. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the outlook for the stock.
 
Earnings Review
 
On August 3, 2010, Magellan reported second-quarter 2010 results that came in significantly better than expected, buoyed by higher rates and … [visit site to read more]

Perfect Proportional Representation: Nobody Can Demonstrate It, And Yet It’s Taken As A Norm

Posted: 13 Aug 2010 07:28 AM PDT

“Anyone who has watched football over the years has probably seen at least a hundred black players score touchdowns– and not one black player kick the extra point. Is this because of some twisted racist who doesn’t mind black players scoring touchdowns but hates to see them kicking the extra points?

At our leading engineering schools– M.I.T., CalTech, etc.– whites are under-represented and Asians over-represented. Is this anti-white racism or pro-Asian racism? Or are different groups just … [visit site to read more]

Relative Strength Of Gold Versus Euro Signals Bullishness For Gold

Posted: 13 Aug 2010 07:22 AM PDT

The trade deficit widened unexpectedly this month after the dollar reached extremely oversold levels, which was quite surprising to Wall Street.  Usually, a weaker dollar should lead to an increase of exports of U.S. goods; however, the exact opposite occurred.  This further signifies the global economic slow down despite record government stimulus, a devalued dollar and artificially induced low interest rates.  The market and the employment situation are no better off now than they … [visit site to read more]

Stock Market News Briefs: International Business Machines, J.C. Penney Company Holding Company, Nordstrom, Autodesk, NVIDIA, Unica Corporation

Posted: 13 Aug 2010 07:05 AM PDT

 Nordstrom (NYSE:JWN) last night posted inline second quarter earnings of 66 cents a share, on a 12.7% revenue climb to $2.4 billion, slightly below Zacks estimates of $2.5 billion

 Autodesk (NASDAQ:ADSK) reported earnings of 36 cents for the second quarter, 16 cents above Zacks estimates on a 14% revenue gain to $473 million

 NVIDIA (NASDAQ:NVDA) reported lower-than-anticipated second quarter earnings of 3 cents, an 8-cent miss, on revenue of $811 million, that missed Zacks estimates of … [visit site to read more]

ITT Gets Contract

Posted: 13 Aug 2010 07:05 AM PDT

ITT Corporation (NYSE:ITT) won a contract to supply 220 enhanced night vision goggles and associated accessories to the U.S. Army. The work will be completed by August 2013. The value of the contract is $260.5 million.

For the U.S. military and its allies, ITT is the leading full-service supplier of most of the advanced night vision equipment available in the market.

ITT plays an important role in vital markets, including water and fluids management, global defense and security, and motion and … [visit site to read more]

Gentiva Prices Senior Notes

Posted: 13 Aug 2010 07:05 AM PDT

Gentiva Health Services Inc. (NASDAQ:GTIV) priced its private offering of an aggregate principal amount of $325 million of its 11.5% senior notes due 2018 at an issue price of 100%, reflecting a $20 million increase from the proposed offering of $305 million announced on August 4. Gentiva anticipates closing of the notes offering subject to customary conditions on August 17.
Along with the available cash at Gentiva and about $780 million in proceeds from the new credit facility, Gentiva plans to … [visit site to read more]

Broadridge’s 4Q Earnings Slip

Posted: 13 Aug 2010 07:05 AM PDT

Broadridge Financial Solutions Inc. (NYSE:BR) reported fourth-quarter 2010 earnings per share of 76 cents, down from 83 cents in the prior-year quarter and below the Zacks Consensus Estimate of 84 cents.
Revenues
Total revenue in the fourth quarter was $750.5 million, up 5.0% from $716.3 million in the year-ago quarter, but below the Zacks Consensus Estimate of $759.0 million. The increase in revenues may be attributed to the positive effect of currency translation and higher contributions from … [visit site to read more]

Manufacturing, Technology Stocks Hit By Supply Chain Problems

Posted: 13 Aug 2010 07:04 AM PDT

As growing demand boosts production in the second half of 2010, some companies will fail to meet output due to struggles in the supply chain.

Earnings season has shown industrial companies’ surging profits in the first half of the year and increased optimism for the months to come. Emerging market strength and stable raw material prices have helped the manufacturing boost.

Industry giants like Caterpillar Inc. (NYSE:CAT) and Siemens AG (NYSE:SI) all raised their outlooks and posted … [visit site to read more]

What Does Friday The 13th Have To Do With It?

Posted: 13 Aug 2010 06:50 AM PDT

Well, it’s Friday August 13th, the last weekday of my 2010 summer vacation before returning to my service as a public school teacher on Monday.  But don’t let the date make you afraid of black cats passing in front of you, because we all know that is nonsense.

Actually, I have decided that far from being an unlucky day, this will be a very fun, exciting and yes, profitable day.  And I sincerely hope it is for you, as well!

This is a 30 minute chart of the US Dollar and I snapped … [visit site to read more]

Why Active ETFs Are Not An Oxymoron

Posted: 13 Aug 2010 06:47 AM PDT

Oscar Silver, over at IndexUniverse, came out firing yesterday with a post that concluded by asking the SEC to rein in the development actively-managed ETFs and basically saying that he wished to see Active ETFs come to an end.
The author had two main arguments from my interpretation of the blog post. First, he suggested that the term "Active ETF" is an example of a true oxymoron. That would be true only if you started off with the assumption that all exchange-traded funds should be passive … [visit site to read more]

Capella Enhances Return

Posted: 13 Aug 2010 06:35 AM PDT

Capella Education Company (NASDAQ:CPLA), the provider of online education, in view to further enhance shareholders' return, recently raised its existing share repurchase authorization to $75 million.
Earlier, in July 2008, Capella's board had authorized the share repurchase program of up to $60 million with no expiration date. As of June 30, 2010, the company had bought back 0.6 million shares aggregating approximately $38 million, and still has $22 million at its disposal under its previous … [visit site to read more]

Fluor Begins Work On Rail Project

Posted: 13 Aug 2010 06:35 AM PDT

Fluor Corporation (NYSE:FLR) announced the financial closure of the Eagle P3 commuter rail project (Eagle Project) in the Denver metropolitan area in Colorado.
Denver Transit Partners (DTP), a Fluor-managed team, arranged for $452 million private funds, including $397.8 million in bonds for the six-year design and build phase of the Eagle Project, followed by a 30-year period of operations and maintenance as part of a Build, Own and Operate contract.
The Eagle Project is a public-private … [visit site to read more]

Earnings Scorecard: RadioShack

Posted: 13 Aug 2010 06:35 AM PDT

The future outlook for RadioShack Corp. (NYSE:RSH) is flat. Second quarter 2010 financial results were mostly in line with Zacks Consensus Estimates. Recent earnings estimate revisions are showing an almost 50-50 swing in both directions.
RadioShack continues its solid performance supported by significant growth of wireless businesses. However, the company's non-wireless product segment is facing a gradual decline in sales. Moreover, the company is facing intensifying competition … [visit site to read more]

Forex Trading: USDCHF Tiptoeing Between Support And Resistance

Posted: 13 Aug 2010 06:32 AM PDT

The USDCHF is tiptoeing between support and resistance. ON the downside is support against the 1.0514 level while above there is resistance against the 1.0543-45 level. A break of either extreme should see a further move in the direct of the break. SO watch the key levels and look for a break. For more click on the following … [visit site to read more]

Swiss Franc: Under Pressure

Posted: 13 Aug 2010 06:18 AM PDT

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

Japanese Yen: The Downside Prevails

Posted: 13 Aug 2010 06:18 AM PDT

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

British Pound: Under Pressure

Posted: 13 Aug 2010 06:18 AM PDT

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

Euro: The Downside Prevails

Posted: 13 Aug 2010 06:18 AM PDT

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

CZZ’s Net Falls, Revenue Impressive

Posted: 13 Aug 2010 06:05 AM PDT

Cosan Limited (NYSE:CZZ) reported quite disappointing net results for the first quarter of 2011. The company reported a net loss of US$11.9 million in the first quarter compared with a net income of US$122.6 million in the comparable quarter of 2010. The fall in net income primarily reflects higher expenses that offset top-line growth reported in the quarter.
Revenue
Considering the top line, net sales (excluding eliminations) in the first quarter grew 29.8% year over year to US$2,233.8 million, … [visit site to read more]

Earnings Scorecard: Chevron

Posted: 13 Aug 2010 06:05 AM PDT

Late last month, Chevron Corporation (NYSE:CVX) – the second largest U.S. oil company – announced its financial results for the quarter ended June 30, 2010.
Now that the Wall Street analysts have had some time to digest the quarterly performance of Chevron, they are weighing in their estimate revisions. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the outlook for the stock.
Earnings Review
On July 30, 2010, Chevron … [visit site to read more]

Telekomunikasi Revenue Soars

Posted: 13 Aug 2010 06:05 AM PDT

P.T. Telekomunikasi Indonesia Tbk. (NYSE:TLK), the largest telecom operator of Indonesia, declared solid financial results for the first half of fiscal 2010. Total revenue for the first half of 2010 was a little over $3,777.5 million compared with $3,004.9 million in the prior-year period. This was mainly due to fabulous increase in both Cellular and Fixed-line telephony revenue together with an increase in Data, Internet & Information technology services revenue.
Net income, in the first … [visit site to read more]

Euro-Zone Economic Activity Tops Forecasts In The Second Quarter

Posted: 13 Aug 2010 05:50 AM PDT

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Fundamental Headlines
• Germany Drives Euro-Zone Growth – Wall Street Journal
• Strong Data Lift Euro– Wall Street Journal
• German Growth Lifts Euro-zone GDP by 1% - Financial Times
• Greek Premium to Bunds Jumps to 800 Basis Points for First Time Since June - Bloomberg
• Record German Growth Drives Faster Euro-Region Expansion- Bloomberg
EUR/USD: Euro-zone trade balance in June topped economists' expectations as … [visit site to read more]

TARP Funds – A Boon For Europe?

Posted: 13 Aug 2010 05:35 AM PDT

Criticizing the structure of the U.S. Treasury's $700 billion Troubled Asset Relief Program (TARP) that was created to rescue the nation's financial industry, the Congressional Oversight Panel said in a report on Thursday that the foreign companies got greater benefit from the U.S. bailout program than U.S. companies realized from other countries’ bailout programs.
 
Following the collapse of Lehman Brothers in September 2008, which was acquired by Barclays (NYSE:BCS), the U.S. … [visit site to read more]

Autodesk Tops Zacks Consensus

Posted: 13 Aug 2010 05:35 AM PDT

Software design maker, Autodesk Inc. (NASDAQ:ADSK) reported better-than-expected second quarter 2011 results, with earnings per share of 27 cents, beating the Zacks Consensus Estimate of 20 cents per share. Earnings per share leaped 80.0% year over year from 15 cents reported in the year-ago quarter and were well ahead of the company’s guidance of 19 cents to 22 cents per share.
Earnings exclude one-time charges but include stock based compensation expense. Net income of $64.0 million was up 81.8% … [visit site to read more]

COPEL 2Q Misses Estimate

Posted: 13 Aug 2010 05:35 AM PDT

Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL reported its financial results for the second quarter 2010. Net income dipped 53.2% year over year to R$135.7 million (US$75.4 million), or R$0.50 per share (US$0.28 per ADR) compared with R$290.0 million (US$138.8 million) or R$1.06 per share (US$0.51 per ADR). Earnings per ADR lagged behind the Zacks Consensus Estimate of US$0.50 per share.
The year-over-year decline was primarily due to higher operating expenses, which more than … [visit site to read more]

What Is The Real Rate Of Unemployment In The United States?

Posted: 13 Aug 2010 05:06 AM PDT

Just what is the true rate of unemployment in our country? Our headline U-3 rate is currently 9.5%. Our U-6 rate, more broadly defined, is 16.5%.
Many people are aware of the differences between U-3 and U-6; however, a renowned economist John Williams takes our level of analysis to an entirely new level. Williams is far ahead of the curve in his work.
He likely is not on a regular on the Washington cocktail circuit. Why's that? He goes far deeper in his work and exposes inconsistencies if not … [visit site to read more]

Two Contrasting Active ETF Stories: MINT And GRV

Posted: 13 Aug 2010 04:48 AM PDT

In the month of July, actively-managed ETFs in the US saw their total asset base shrink by nearly $300 million from $2.1 billion to about $1.8 billion. While there several big movers in the past month, including some of WisdomTree's currency ETFs, there were two stories in particular that were interesting – those of PIMCO's Enhanced Short Maturity Fund (MINT: 100.68 0.00%) and AdvisorShares' Mars Hill Global Relative Value ETF (GRV: 24.7499 0.00%).
PIMCO's Enhanced Short Maturity Fund … [visit site to read more]
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