Daily Markets - CSC Acquires Bass & Company |
- CSC Acquires Bass & Company
- Citi Reiterated At Neutral
- Vulcan Faces Credit Rating Cut
- U.S. Automakers Drive Sales
- Delphi Raises Dividend
- GS Spinoff Features Tech Issue
- Revenues Dip At Alkermes
- Cost Reduction Lowers ENZN Loss
- Stock Market News Briefs: Hewlett-Packard Company, J P Morgan Chase & Co, Medtronic, Apple, DISH Network Corporation
- Profit Drops At Allianz Group
- More On The Higher Education Bubble
- Swiss Franc: Under Pressure
- Japanese Yen: The Downside Prevails
- British Pound: Under Pressure
- Euro: The Downside Prevails
- Magna Beats Estimates
- Strong Sales For Conceptus
- ResMed Beats Estimates
- Forex Trading: EURUSD Has Resistance Against 1.3264 Area.
- Pepco Profits Climb, Revs Drift
- Creating A New Job Carries A Punishing Price Due To Government’s 33% Surtax On A Typical Job
- How To Make Your Mortgage Interest Tax Deductible
- German Trade Balance Widens In July
- The Fundamental Case For Emerging Market Currencies
- Now More Than Ever, ‘Caveat Emptor’
| Posted: 09 Aug 2010 07:35 AM PDT Virginia-based Computer Sciences Corporation (NYSE:CSC) has seen positive news flow in recent times, mainly on account of the steady flow of high-value orders. Now the company has announced the acquisition of a privately-owned strategy and operations consulting firm, Bass & Company, which provides services to electric, gas and water utilities. Financial details of the transaction were not disclosed. The acquisition is expected to enhance the services offered by CSC to its global utilities … [visit site to read more]
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| Posted: 09 Aug 2010 07:35 AM PDT We have reiterated our Neutral rating for Citigroup Inc. (NYSE:C) following the company's earnings release. Our decision is based on the company's fundamentals and the current economic scenario.
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| Vulcan Faces Credit Rating Cut Posted: 09 Aug 2010 07:35 AM PDT Vulcan Material Co.'s (VMC ) corporate credit rating has been pruned to "BBB-" from "BBB" by the Standard & Poor's Ratings Services (S&P). S&P assesses that the company's performance will not match the expectations for the upcoming quarters. Its rating outlook, however, stays "stable".
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| Posted: 09 Aug 2010 07:05 AM PDT The light vehicle sales in the U.S. during July rose marginally by 2.2% to 11.54 million vehicles in terms of seasonally adjusted annual rate, driven mainly by strong sales gain experienced by the U.S. automakers. Pickup trucks and luxury cars were the hottest selling vehicles during the month.
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| Posted: 09 Aug 2010 07:05 AM PDT Employee benefits provider Delphi Financial Group Inc. (NYSE:DFG) yesterday announced a single cent increase in quarterly dividend to 11 cents from 10 cents paid in the second quarter of 2010. This hike represents a 10% increase from the previous dividend.
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| GS Spinoff Features Tech Issue Posted: 09 Aug 2010 07:05 AM PDT Goldman Sachs Group Inc. (NYSE:GS) is facing an unanticipated technology problem related to its plan of spinning off part of its proprietary trading business, according to a report on CNBC. A particular computer language called “Slang” was developed for internal usage for GS' traders which play a key role in the company's proprietary trading operations. The company expects that the new spin-off trading company will not get the right to use the language. Therefore, GS is … [visit site to read more]
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| Posted: 09 Aug 2010 06:35 AM PDT Alkermes Inc.'s (NASDAQ:ALKS) first-quarter fiscal 2011 net loss of 14 cents per share compared unfavorably with the year-ago loss of 2 cents per share. The Zacks Consensus Estimate was a loss of 14 cents per share.
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| Cost Reduction Lowers ENZN Loss Posted: 09 Aug 2010 06:35 AM PDT Enzon Pharmaceuticals' (NASDAQ:ENZN) second quarter 2010 net loss of 8 cents per share (excluding special items) compared favorably with the loss per share of 43 cents suffered in the year-ago quarter. The Zacks Consensus Estimate for the quarter indicated a loss of 6 cents. On a reported basis (including special items), the company reported a loss of 9 cents per share as against a loss of 11 cents in the year-ago quarter.
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| Posted: 09 Aug 2010 06:35 AM PDT DISH Network (NASDAQ:DISH) reported second quarter profits 4-cents better than expected at 57 cents per share, on revenues up 9.3% to $3.17 billion, slightly ahead of Zacks estimates of $3.12 billion Following CEO Mark Hurd’s resignation, Hewlett-Packard (NYSE:HPQ) issued improved preliminary fiscal third quarter sales and earnings projections of $30.7 billion and adjusted earnings of $1.08, up from Zacks estimates of $30.00 billion and $1.07 per share earnings. The company also raised … [visit site to read more]
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| Posted: 09 Aug 2010 06:35 AM PDT The leading German property-casualty and life insurer, Allianz Group reported its second quarter 2010 earnings of $2.91 (€2.21) per share, a substantial decrease of 47% from $5.44 (€4.13) reported in second quarter 2009. Net income to shareholders totaled $1.33 (€1.01) billion, down 45.6% from $2.50 (€1.87) billion in the prior-year quarter. Low realized gains in the quarter were culpable for offsetting double-digit revenues and operating profit improvements.
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| More On The Higher Education Bubble Posted: 09 Aug 2010 06:24 AM PDT Glenn Reynolds has a new follow-up article to his earlier article that predicted that “higher education is in a bubble (see chart above), one soon to burst with considerable consequences for students, faculty, employers, and society at large.” In his new article, Glenn offers some advice to students (don’t go into debt) and colleges (don’t go on spending … [visit site to read more]
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| Posted: 09 Aug 2010 06:18 AM PDT |
| Japanese Yen: The Downside Prevails Posted: 09 Aug 2010 06:18 AM PDT |
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| Posted: 09 Aug 2010 06:05 AM PDT Magna International Inc. (NYSE:MGA) posted a profit of $293 million or $2.59 per share in the second quarter of the year compared with a loss of $205 million or $1.83 per share in the prior-year quarter. The company outdid the Zacks Consensus Estimate of $1.51 per share. Magna benefited from a recovery in light vehicle production (LVP) in its two principal markets, North America and Europe. LVP in North America surged 75% while that in Western Europe increased 13% during the quarter. During the … [visit site to read more]
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| Posted: 09 Aug 2010 06:05 AM PDT Conceptus Inc. (NASDAQ:CPTS), contraception device maker, reported net loss per share of 1 cent during the second quarter of fiscal 2010 compared with a net loss of 2 cents in the year-ago period. However, after adjusting for certain one-time items and treating stock-based compensation as a normal expense, the company reported EPS of 5 cents compared to 3 cents in the second quarter of 2009. Conceptus was expected to break even as per the Zacks Consensus Estimate. Conceptus reported revenues of … [visit site to read more]
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| Posted: 09 Aug 2010 06:05 AM PDT ResMed Inc. (NYSE:RMD) recorded an EPS of 68 cents in the fourth quarter of 2010, surpassing the Zacks Consensus Estimate of 66 cents and 59 cents in the year-ago period. For the full year 2010, the company recorded a 29% growth in EPS to $2.45.
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| Forex Trading: EURUSD Has Resistance Against 1.3264 Area. Posted: 09 Aug 2010 05:37 AM PDT |
| Pepco Profits Climb, Revs Drift Posted: 09 Aug 2010 05:35 AM PDT Pepco Holdings Inc. (NYSE:POM) today reported second quarter 2010 earnings from continuing operations of 36 cents per share, well above the Zacks Consensus Estimate of 22 cents and double of 18 cents earned last year.
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| Creating A New Job Carries A Punishing Price Due To Government’s 33% Surtax On A Typical Job Posted: 09 Aug 2010 05:19 AM PDT Michael Fleischer, a small business owner in New Jersey, writes in today’s WSJ that when he adds it all up, it costs him $74,000 to put $44,000 in his median-paid employee’s pocket and provide her with $12,000 in benefits, because of the 33% surtax charged by the state and federal governments for income taxes, Social Security taxes (employer and employee shares), state and federal unemployment coverage, workers’ … [visit site to read more]
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| How To Make Your Mortgage Interest Tax Deductible Posted: 09 Aug 2010 05:00 AM PDT The following is an article authored by Dave Tout, Mortgage Broker with Dominion Lending Centers in Vancouver, BC. Dave Tout is a Mortgage Broker with Dominion Lending Centers in Vancouver, British Columbia For US homeowners, mortgage interest is automatically tax deductible. But for Canadians, the write-off is not so straightforward. In order to make your mortgage interest tax deductible, homeowners must be able to prove that the money is being reinvested and is not being used for personal … [visit site to read more]
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| German Trade Balance Widens In July Posted: 09 Aug 2010 04:55 AM PDT Fundamental Headlines
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| The Fundamental Case For Emerging Market Currencies Posted: 09 Aug 2010 03:52 AM PDT When it comes to strategic asset allocation, most investors typically move their investments between equities, bonds and cash, and are often satisfied with the returns and diversification they achieve just through investments in international securities within those asset classes. However, the diversification promised by international investments, when sticking to bonds and equities can be quite deceptive. The basic premise behind the belief of diversification benefits achievable from … [visit site to read more]
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| Now More Than Ever, ‘Caveat Emptor’ Posted: 09 Aug 2010 03:29 AM PDT A resounding theme on Wall Street currently is the decline in overall volumes. This reality is not only happening in the equity markets but in virtually every corner of the financial services industry. What happens as a result? Pressure from management increases to 'make the numbers.' That pressure is transferred to clients in a subtle or often not so subtle fashion. In addition to the pressure to transact, investors need to be increasingly on guard against practices which will generate … [visit site to read more]
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