Daily Markets - EI Reduces Stake In Gafisa |
- EI Reduces Stake In Gafisa
- Sears Loss Narrows, But Misses
- Honeywell Design Passes Review
- BHP’s Fresh Offer In Line
- Too Flat?
- Four Banks May Face $42B Loss
- Moody’s Offers Unsecured Notes
- Philips Launches Audio Recorder
- Research Assistants Bust Harvard Professor
- Business Loan Indicators Show Improvements In Q2
- Limited Brands In Line With Zacks
- Progressive’s July Results In Line
- Stock Market News Briefs: Abercrombie & Fitch Company, ENSCO International Incorporated, Goldman Sachs Group, Limited Brands, Radioshack, Williams-Sonoma, Yingli Green Energy Holding Company Limited, Applied Materials, Brocade Communications Systems, Sears Holdings, Staples
- Swiss Franc: Under Pressure
- Japanese Yen: The Downside Prevails
- British Pound: Under Pressure
- Euro: The Downside Prevails
- Staples In-Line With Estimates
- U.K. Retail Sales Tops Forecasts; Bundesbank Raises Germany’s 2010 Growth Forecast
- Significant Change Ahead For GLD, GDXJ, US Dollar & Crude Oil
- Speculation Moving Forex Markets
- US Dollar Index Poised For A Break To The Upside
- New Jersey’s State Pension? Fuhgeddaboutit!!
- How To Prepare Your Portfolio For A Double Dip Recession
- Hot Stock News For Thursday 19 August: Nokia, Microsoft, BP, Google, Shell, BHP Billiton, Target Corp, Applied Materials
- Observations On My Afternoon In New York City
- 3 Reasons Why Bond ETFs Are Dominating Active ETF Landscape
| Posted: 19 Aug 2010 07:35 AM PDT Equity International, one of the significant shareholders of Brazilian homebuilder, Gafisa S.A. (NYSE:GFA), sold $2.7 million worth of ADRs in the Brazilian market to churn its portfolio. Following the sale, Equity International now owns 5.7% in Gafisa.
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| Sears Loss Narrows, But Misses Posted: 19 Aug 2010 07:35 AM PDT Sears Holdings Corp.'s (NASDAQ:SHLD) fiscal 2010 second-quarter GAAP net loss narrowed to $39 million from a net loss of $94 million in the year-ago period. However, excluding special items, adjusted loss per share came in at 19 cents, missing the Zacks Consensus Estimate for a loss of 18 cents per share. Quarterly Details During the quarter, Sears' total revenues declined 0.9% year-over-year to $10,458 million and came in behind the Zacks Consensus Estimate of $10,576 million. The company's … [visit site to read more]
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| Honeywell Design Passes Review Posted: 19 Aug 2010 07:35 AM PDT The critical design review of Honeywell International’s (NYSE:HON) on board Computer, reaction wheel assembly and inertial measurement unit, has passed off successfully. These components are part of Global Positioning Satellite (GPS) III program of the U.S. Air Force.
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| Posted: 19 Aug 2010 07:35 AM PDT Following the rejection of the buy-out offer made by the Australian mining giant, BHP Billiton Ltd. (NYSE:BHP) for Canada’s Potash Corp. of Saskatchewan Inc. (NYSE:POT), the world’s biggest fertilizer manufacturer for $38.56 in total or $130 per share, we believe that BHP will increase its offer price beyond $150 per share.
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| Posted: 19 Aug 2010 07:17 AM PDT Fundamentals
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| Posted: 19 Aug 2010 07:05 AM PDT The four largest U.S. banks may incur losses of up to $42 billion if housing finance giants Fannie Mae (FNMA) and Freddie Mac (FMCC) force them to repurchase faulty mortgages, Fitch Ratings stated on Wednesday.
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| Moody’s Offers Unsecured Notes Posted: 19 Aug 2010 07:05 AM PDT Moody’s Corp. (NYSE:MCO) announced that it has priced an underwritten public offering of $500 million aggregate principal amount of 5.50% senior unsecured notes due 2020. The offering is expected to close on August 19, 2010, subject to customary closing conditions.
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| Philips Launches Audio Recorder Posted: 19 Aug 2010 07:05 AM PDT Philips Speech Processing, a unit of Royal Philips Electronics (NYSE:PHG), unveiled a new version of its SpeechMike audio recording devices. The main features include larger buttons for greater convenience, a laser sensor for cursor movements and an LED indicator to display the level of recording in different colors.
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| Research Assistants Bust Harvard Professor Posted: 19 Aug 2010 06:59 AM PDT “Ever since word got out that a prominent Harvard University researcher was on leave after an investigation into academic wrongdoing, a key question has remained unanswered: What, exactly, did he do? An internal document, however, sheds light on what was going on in Mr. Hauser’s lab. It tells the story of how research assistants became convinced that the professor was reporting bogus data and how he aggressively pushed back against those who questioned his findings or asked for … [visit site to read more]
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| Business Loan Indicators Show Improvements In Q2 Posted: 19 Aug 2010 06:53 AM PDT According to banking data released yesterday by the Federal Reserve, both delinquency rates and charge-off rates for business loans at all commercial banks continued to improve in the second quarter of 2010. Charge-off rates fell for the third consecutive quarter to 1.71% during the April to June period, the lowest rate since the 1.84% rate in the first quarter of 2009; and delinquency rates for business loans fell for the second straight quarter to 3.71%, also at the … [visit site to read more]
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| Limited Brands In Line With Zacks Posted: 19 Aug 2010 06:35 AM PDT Limited Brands Inc. (NYSE:LTD) recently posted second-quarter 2010 results. The quarterly earnings of 36 cents a share remained in line with the Zacks Consensus Estimate, but rose nearly two fold from 19 cents delivered in the prior-year quarter riding on improving sales environment.
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| Progressive’s July Results In Line Posted: 19 Aug 2010 06:35 AM PDT Progressive Corp.'s (NYSE:PGR) earnings per share for July 2010 of 17 cents were in line with July 2009 results. The results of the reported month also compare favorably with earnings of 7 cents per share in June 2010. Net income for the month declined 1% to $113.2 million from $114.9 million in the year-ago period. However, on a sequential basis, net income increased a whopping 156% from $44.2 million reported in the previous month.
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| Posted: 19 Aug 2010 06:35 AM PDT Sears Holdings (NASDAQ:SHLD) posted a second quarter loss of 19 cents per share, one cent above Zacks estimates, on revenues of $10.5 billion, below Zacks estimates of $10.6 billion Staples (NASDAQ:SPLS) posted in-line second quarter earnings of 20 cents a share; however, revenues of $5.5 billion missed Zacks estimates of $5.6 billion Williams-Sonoma (NYSE:WSM) posted better-than-expected second quarter earnings of 31 cents, 9 cents higher than Zacks projections, on a 15.5% revenue … [visit site to read more]
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| Posted: 19 Aug 2010 06:18 AM PDT |
| Japanese Yen: The Downside Prevails Posted: 19 Aug 2010 06:18 AM PDT |
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| Staples In-Line With Estimates Posted: 19 Aug 2010 06:05 AM PDT Staples, Inc. (NASDAQ:SPLS), a global leader in the supply of office products, posted second-quarter 2010 results this morning. The quarterly earnings of 20 cents a share was in line with the Zacks Consensus Estimate and rose 25% from 16 cents earned in the prior-year quarter. On a reported basis, including one-time items, earnings came in at 18 cents a share, up 38.5% from 13 cents posted in the year-ago quarter. Despite the top-line being flat, Staples was able to deliver double-digit growth on … [visit site to read more]
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| U.K. Retail Sales Tops Forecasts; Bundesbank Raises Germany’s 2010 Growth Forecast Posted: 19 Aug 2010 05:18 AM PDT Fundamental Headlines
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| Significant Change Ahead For GLD, GDXJ, US Dollar & Crude Oil Posted: 19 Aug 2010 05:11 AM PDT I may be just a tad ahead of myself, but it appears to me that most everything needed for a significant change is in place for gold, miners and the stock market generally. It appears that gold and the miners are about ready to take a much deserved breather. It also appears that the US Dollar is close to breaking to the downside, allowing the stock market to not only rise, but do so with a major propeller from the oil sector. This first daily chart is the SPDR Gold ETF (GLD). … [visit site to read more]
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| Speculation Moving Forex Markets Posted: 19 Aug 2010 05:06 AM PDT As we mentioned yesterday, the fact that pertinent and concrete economic data has taken a holiday (alongside everyone else) has allowed triviality and speculation to run amuck in the markets. Today’s culprits seem to be print articles coming out of both Japan and Germany. The Japanese newspaper Sankei reported that the BoJ is considering expanding their injections of liquidity through “new funds-supplying operations” which began last December. This is nothing really new for the Yen … [visit site to read more]
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| US Dollar Index Poised For A Break To The Upside Posted: 19 Aug 2010 05:03 AM PDT Hiyo forex peeps! In today’s FX feature is an update on the US dollar index (please see my my previous post here). As you can see from its daily chart, the index appears to be poised for a break to the upside. Why? Well, the index has recently broken above its downtrend line and at present it seems to be forming and inverted head and shoulders formation. As you know, such formation is a bullish reversal pattern. Hence, a move above its neckline could send it all the way to 86.000 … [visit site to read more]
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| New Jersey’s State Pension? Fuhgeddaboutit!! Posted: 19 Aug 2010 04:35 AM PDT In a state that has a reputation for putting the 'organized' in 'organized activities,' is anybody surprised that New Jersey has been charged with misrepresenting the health of its state pensions? (The state has already settled). How do you think politicians get elected? Line the pockets of the unions with lavish pensions and perks, then stick it to future generations. This scam has been played for years. What's new now? The Wall Street Journal provides further details … [visit site to read more]
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| How To Prepare Your Portfolio For A Double Dip Recession Posted: 19 Aug 2010 04:33 AM PDT The last time the U.S. economy suffered through a double-dip recession, this country was struggling to overcome the fallout from an Arab oil embargo, Vietnam War-era deficits, and an inflationary spiral that just wouldn’t let go. That 1981-82 double-dip downturn - the result of an economic “shock treatment” aimed at curing those ills - consisted of two recessions that were separated by a single quarter of growth. The current backdrop is very different from the one that was in place … [visit site to read more]
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| Posted: 19 Aug 2010 04:18 AM PDT BP (NYSE:BP) - Co. is putting its holdings in the Tuscaloosa trend in Louisiana up for sale, as it continues to streamline operations and raise money for the Gulf of Mexico disaster. Co. says the sale is part of their North American Gas business strategy. (upstreamonline.com) - Co. has more testing ahead before it can finally kill its ruptured Gulf of Mexico oil well, the top official overseeing the spill response said on Wednesday. (RTRS) UK Shell (RDS) - Co.’s unit plans to spend as … [visit site to read more]
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| Observations On My Afternoon In New York City Posted: 19 Aug 2010 04:14 AM PDT I spent my afternoon yesterday in New York City meeting with a variety of people. Without violating any confidences, there were a number of common themes that came from all my conversations. The themes included:
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| 3 Reasons Why Bond ETFs Are Dominating Active ETF Landscape Posted: 19 Aug 2010 04:00 AM PDT In the 2 years that actively-managed ETFs have been around, there have been funds launched that focus on various asset classes, ranging from equities and fixed-income to currencies and commodities. While equity focused actively-managed ETFs are the most numerous in number, they certainly haven't seen as much success as funds focused on other asset classes. The graphic below shows a snapshot of the asset class break-up within the Active ETF landscape at the end of July. While WisdomTree's … [visit site to read more]
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