Friday, August 20, 2010

Daily Markets - Australian Dollar: The Downside Prevails

Daily Markets - Australian Dollar: The Downside Prevails

Australian Dollar: The Downside Prevails

Posted: 20 Aug 2010 08:18 AM PDT

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

Canadian Dollar: The Downside Prevails

Posted: 20 Aug 2010 08:18 AM PDT

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

CBO: Deficits On Budget, Surplus Off

Posted: 20 Aug 2010 08:05 AM PDT

The Congressional Budget Office projects that the budget deficit will total $1.342 trillion in fiscal 2010 (which is a pretty firm projection since the year ends on September 30th). That is $71 billion less than fiscal 2009, and $27 billion lower than what it projected last time it did the numbers in March.

For 2011 and beyond, the CBO is required by law to assume that current law remains in place, which means that all of the tax cuts of 2001 and 2003 expire on schedule. That is unlikely … [visit site to read more]

BJ’s Wholesale Misses Estimate

Posted: 20 Aug 2010 08:05 AM PDT

BJ's Wholesale Club Inc. (NYSE:BJ), a leading warehouse club operator in the United States, recently posted lower-than-expected second-quarter 2010 results. The quarterly earnings of 67 cents a share missed the Zacks Consensus Estimate of 73 cents, and also fell short of its outlook of 74 cents. However, the earnings rose 4.7% from 64 cents delivered in the prior-year quarter.
The bottom-line growth was driven by the high single-digit growth in the top line, increase in traffic and cost … [visit site to read more]

Hot Stock News For Friday 20 August: Intel, McAfee, Hewlett-Packard, Dell, BP, Rio Tinto, BHP Billiton, Marvell Tech, Caterpillar

Posted: 20 Aug 2010 07:41 AM PDT

BP (NYSE:BP) - The final plugging of co.’s blown out Macando well is delayed until September to allow replacement of a key piece of equipment, the top US oil spill official said. (RTRS)

UK

Rio Tinto (NYSE:RTP) - Co. CEO said the miner would keep seeking regulatory approval for a USD 116bln joint venture with BHP Billiton, after a report that the deal faces collapse. (RTRS)

BHP Billiton (NYSE:BHP) - Potash is seeking a buyer willing to top BHP Billiton’s USD 39bln hostile takeover offer for … [visit site to read more]

A.M. Best Assigns WellPoint Ratings

Posted: 20 Aug 2010 07:35 AM PDT

A.M. Best Co. assigned its debt rating to the senior unsecured notes due 2020 and 2040, which were recently issued by WellPoint Inc. (NYSE:WLP), keeping the outlook “stable”. The existing ratings of WellPoint and its subsidiaries were unchanged.
WellPoint completed the sale of its $1 billion senior notes on August 12 and the proceeds totaled over $986 million net of underwriting costs. WellPoint stated that the sale proceeds will be utilized for the repayment of WellPoint’s short-term and … [visit site to read more]

McDonald’s Sells $29.5M Yuan Bonds

Posted: 20 Aug 2010 07:35 AM PDT

McDonald’s Corporation (MCD) recently announced that it has raised $29.5 million through the sale of 200 million of Yuan-denominated bonds in a private placement to institutional and professional investors in Hong Kong. The bonds will bear a coupon rate of 3.00% per annum and mature in three
years.
The announcement makes McDonald’s the first foreign corporate to raise such debt after China moderated some rules regarding Yuan to internationalize its currency.
The proceeds from the sale of the … [visit site to read more]

SAP And Sybase Align Resources

Posted: 20 Aug 2010 07:35 AM PDT

SAP AG (NYSE:SAP) and Sybase announced that they will collaborate to develop a mobile platform based on open architecture that supports different operating systems and devices.
Further, the two companies will develop a solution for corporate information management to provide customers with a broader range of database platforms for running SAP applications. Moreover, the companies will offer a comprehensive business analytics platform to support end-to-end functions
from data origination, data … [visit site to read more]

Taubman Expects Higher Fiscal FFO

Posted: 20 Aug 2010 07:05 AM PDT

Taubman Centers Inc. (NYSE:TCO), a real estate investment trust (REIT), has recently announced that it expects 2010 funds from operations (FFO) to be slightly above its previous guidance of $2.65 to $2.75 per share. Fund 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 anticipated increase in FFO is primarily due to a lease cancellation income resulting from the … [visit site to read more]

Qualcomm Gearing Up For India

Posted: 20 Aug 2010 07:05 AM PDT

Qualcomm Inc. (NASDAQ:QCOM), the largest digital mobile chipset developer based-on CDMA technology, has decided to launch broadband services in India in 2011.
 
Last June, the company won BWA (broadband wireless access) spectrum in the 2.3 GHz band, for four telecom circles of Delhi, Mumbai, Haryana and Kerala in India.
 
Government of India recently concluded a spectrum auction for both 3G networks and broadband wireless access. Qualcomm paid $1.045 billion to get the wireless frequency. … [visit site to read more]

HIW To Develop Build-to-Suit Asset

Posted: 20 Aug 2010 07:05 AM PDT

Highwoods Properties Inc. (NYSE:HIW), a real estate investment trust (REIT), has recently announced that it would develop a new eight-storied building in Kansas City for law firm Polsinelli Shughart. The Class A office property spanning 192,000 square feet will serve as the headquarters for the law firm accommodating nearly 500 employees, including 300 lawyers.
At the same time, Highwoods signed an additional deal with yet another law firm Nexsen Pruet to lease 8,300 square feet of space at … [visit site to read more]

Entrepreneurs Can Make A Greater Contribution To Society Through Business Than Charity

Posted: 20 Aug 2010 06:41 AM PDT

From today’s WSJ editorial page “Gates and Buffett Take the Pledge” by Kimberly Dennis: 

“Bill Gates and Warren Buffett announced this month that 40 of America’s richest people have agreed to sign a “Giving Pledge” to donate at least half of their wealth to charity. With a collective net worth said to total $230 billion, that promise translates to at least $115 billion. It’s an impressive number. Yet some—including Messrs. Gates and Buffett—say it isn’t enough. Perhaps it’s … [visit site to read more]

McAfee Joining “Intel Inside”

Posted: 20 Aug 2010 06:35 AM PDT

Intel Corp. (NASDAQ:INTC) announced yesterday that it would be acquiring McAfee Inc. (NYSE:MFE), one of the largest makers of security software for $7.68 billion($6.8 billion net of cash acquired) in an all-cash transaction. The purchase price of $48 a share represents a 60% premium to McAfee’s closing price on Wednesday (after which the deal was announced). Shares surged 57% yesterday, dropping off .06% after hours.
 
This is overall a very good deal for existing McAfee shareholders, so they are … [visit site to read more]

Stock Market News Briefs: Bank Of America, Deutsche Bank AG, Footlocker Inc, Gap, Goldman Sachs Group, Hewlett-Packard Company, J.M. Smucker Company, Lorillard, Inc, Meadwestvaco, Republic Services, Salesforce.com Inc, Visa, Amazon.com, Dell, Intuit, Marvell Technology Group, Ltd.

Posted: 20 Aug 2010 06:35 AM PDT

 JM Smucker (NYSE:SJM) reported better-than-expected fiscal first quarter earnings of $1.04 up from estimates of 96 cents, as revenues slightly missed projections at $1.05 billion off estimates of $1.07 billion

 Goldman Sachs (NYSE:GS) raised Republic Services (NYSE:RSG) to “buy” from “neutral,” taking the price target from $32 to $34

 Bank of America (NYSE:BAC) and Visa (NYSE:V) announced plans to test smartphone payments next month

 Deutsche Bank (NYSE:DB) upgraded MeadWestvaco … [visit site to read more]

First Niagara Acquires NewAlliance

Posted: 20 Aug 2010 06:35 AM PDT

Regional bank First Niagara Financial Group Inc. (NASDAQ:FNFG) said on Thursday that it will acquire NewAlliance Bancshares Inc. (NYSE:NAL) in a $1.5 billion cash and stock deal that would boost its presence in New England. This is the largest unassisted deal announcement in U.S. Banking since the financial crisis in mid 2008.
 
According to Buffalo-based First Niagara, the combined entity would become one of the top 25 banks of the nation, with more than $29 billion in assets which will include … [visit site to read more]

Swiss Franc: Under Pressure

Posted: 20 Aug 2010 06:18 AM PDT

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

Japanese Yen: The Downside Prevails

Posted: 20 Aug 2010 06:18 AM PDT

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

British Pound: Under Pressure

Posted: 20 Aug 2010 06:18 AM PDT

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

Euro: Caution

Posted: 20 Aug 2010 06:18 AM PDT

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

Still “Golden”!

Posted: 20 Aug 2010 06:17 AM PDT

Fundamentals
It was only about 3 weeks ago that some traders were beginning to tout the “end” of the bull market in Gold, as prices looked poised to break below major support at the 1150.00 area. However, this “bull” apparently still has some fight left, as prices have since rallied over $80 per ounce and it appears that investors are confused regarding whether the global economy, particularly here in the U.S., has slowed. Gold appears to have found buyers looking for a “flight to safety” … [visit site to read more]

Tech Sector: HP`s Outlook For 4th Quarter Much Better Than Cisco`s Chambers

Posted: 20 Aug 2010 06:12 AM PDT

I listened to the HP earning`s call, and it was really solid. It appears that HP is integrating the EDS and Palm acquisitions quite well, and will start to gain some upside margin growth in many of their business lines as they start to recognize the synergies of these new acquisitions.

HP currently is probably the most undervalued company in the Dow 30. This is all because of an outstanding CEO resigned due to policy violations. But listening to the call, and I would recommend anyone … [visit site to read more]

Forex Trading: EURUSD Breaks To New Lows. Looking For Momentum

Posted: 20 Aug 2010 05:55 AM PDT

Forex Trading: AUDUSD. The Proxy For Risk Appetite. Watch 100 Day MA For Clues

Posted: 20 Aug 2010 05:35 AM PDT

Forex Trading: GBPUSD Works Toward Resistance. 1.5487 Key Support.

Posted: 20 Aug 2010 05:19 AM PDT

IN FOCUS: WCM/BNY Mellon Focused Growth ADR ETF (AADR)

Posted: 20 Aug 2010 04:00 AM PDT

Launch Date: July 20, 2010
Links: Website, Factsheet, Prospectus
Investment Strategy:
AADR is an actively-managed ETF that looks to achieve long-term capital appreciation above international equity benchmarks. The fund will invest in non-US companies that trade on US exchanges through American Depositary Receipts (ADRs). The fund is sub-advised by WCM Investment Management which analyzes major trends in the global economy in order to identify those economic sectors and industries most likely to … [visit site to read more]

“Stocks Don’t Go Up, They’re Put Up”

Posted: 20 Aug 2010 03:57 AM PDT

I have to admit, while I personally view myself as an an optimist by nature, I come from an immediate and extended family which could redefine what it means to be cynical. Often I will initially chuckle when hearing my siblings (6 brothers) and uncles characterize an individual or situation in less than glowing terms. The busting on each other or others typically continues until somebody goes over the line. That happens fairly regularly.
Invariably a number of my brothers and uncles will not be … [visit site to read more]
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