Friday, August 6, 2010

Daily Markets - Global Services Industry Stronger Than Consensus Forecasts

Daily Markets - Global Services Industry Stronger Than Consensus Forecasts


Global Services Industry Stronger Than Consensus Forecasts

Posted: 06 Aug 2010 03:05 AM PDT

Non-manufacturing/services PMIs for July surprised economists and analysts on the upside. Where the flash estimate for the euro zone caught the pundits totally off guard earlier this month, the non-manufacturing ISM survey also took them by surprise with the PMI rising to 54.3 in July from 53.8 in June. The consensus forecast was for a drop to 53.0.
Although the JP Morgan Global Services PMI slowed marginally from 54.9 in June to 54.3 in July, the non-manufacturing/services PMI surveys in the … [visit site to read more]


Marc Faber: “Fed Is Clueless”

Posted: 06 Aug 2010 03:03 AM PDT

In this video, Marc Faber, author of the Gloom, Boom and Doom Report, said the Fed will "print and print and print, until the final crisis wipes out the entire system".
Click through for a wide-ranging … [visit site to read more]


Technical Talk: Trends Still Remain Up On The S&P 500 As Index Hits 100-day Moving Average …

Posted: 06 Aug 2010 03:01 AM PDT

The comments below were provided by Kevin Lane of Fusion IQ.
The S&P 500 recently took out a resistance area (see chart below) near 1,115. The 100-day moving average (1,128) and the intraday highs near 1,131 stand in the way of a deeper breakout to the upside.
Near term the seasonal summer strength and the oversold rally continuation are the main trading themes. Many believe the ral­ly is predicated on a secondary stimulus package being tossed around Washington. Either way, the path of … [visit site to read more]


Look For These Utilities ETFs To Outperform If The Economy Remains Weak

Posted: 06 Aug 2010 03:01 AM PDT

Years ago, people would categorize themselves as either “growth” or “income” investors. The latter group typically consisted of people who were either retired or independently wealthy.

Today the lines are a little fuzzier …

Many younger investors like to see cash flowing into their portfolios regularly as they wait on long-term profits, while retired folks want inflation-beating growth potential on top of steady dividends.

Can you have it both ways? You can certainly try - with a … [visit site to read more]


Meredith Whitney: The Bottom Line On Financials

Posted: 06 Aug 2010 02:59 AM PDT

A look at whether the data we're seeing is a sign of a real turnaround in the financial sector, with Meredith Whitney, CEO of Meredith Whitney Advisory … [visit site to read more]


US Payrolls To Surprise On The Upside?

Posted: 06 Aug 2010 02:56 AM PDT

Analysts expect that the US non-farm payrolls to be published later today will show the US economy continued to shed jobs in July. Yes, initial jobless claims published yesterday were up on the week before. Our analysis differs, though. With the ISM manufacturing and non-manufacturing PMIs for July out, my GDP-weighted employment PMI (manufacturing and non-manufacturing) indicates that between 50,000 and 100,000 more workers may have found jobs during July. Our analysis concurs with the report … [visit site to read more]


Foreclosure – The Next Round …

Posted: 06 Aug 2010 02:49 AM PDT

Forex Trading: EUR/USD Finding More Support From 100 Hr MAVG

Posted: 06 Aug 2010 02:11 AM PDT

Yesterday we posted that the EUR/USD was finding support from the 100 hr moving average; that is true once again. Shown on the hourly chart you can see the pair has tested the line twice again this session. It made some passes through the 23.6% retracement line, but could not close; a close below the 100 hr may be a bearish signal for the pair. If support holds, 1.32325 is the first topside target as is has shown some resistance earlier in the week. With the U.S. non-farm payroll number due out … [visit site to read more]


How To Use Stock Orders To Lock In Profits And Limit Losses

Posted: 06 Aug 2010 01:01 AM PDT

Today’s stock market is not like the market of the good old days. In the 90s, you would put your money in the market and just watch it grow. Not so any longer. Over the last ten years, the S&P 500 is essentially flat.

Today, you have to fight for every percent, and using the appropriate buy or sell order will help you do just that. Let’s take a look at the various types of stock orders, and when it’s best to use each one.

1. Market order. The standard, default order is called a … [visit site to read more]


Crude Oil Uptrend Intact, Gold Win Streak Ends

Posted: 05 Aug 2010 11:51 PM PDT

Commodities – Energy
Crude Oil Uptrend Intact
Crude Oil (WTI) $82.07 +$0.06 +0.07%
Commentary: Crude oil fell $0.46, or 0.56%, on Thursday. The commodity has thus far held onto the bulk of gains registered earlier in the week. Were prices to end the week at current levels near $82, crude will have advanced nearly $3, or 3.8% in the period. Both oil and equities are maintaining an upward bias, as worse-than-expected economic data is not leading to sustained declines, while better-than-expected … [visit site to read more]


Forex Trading: Dollar Slumps Prior To Non Farms Report

Posted: 05 Aug 2010 11:14 PM PDT

Dollar Slumps Prior to Non Farms Report
Weekly U.S. unemployment numbers sent the dollar lower during U.S. trading hours today as applications for unemployment insurance rose to a three month high. The negative employment data comes prior to today’s release of the all important non-farm payrolls.
Economic News
USD - Weak Data Hurts Dollar
The dollar fell following the release of disappointing U.S. weekly employment numbers, only a day before the release of the high impact non-farm payrolls … [visit site to read more]


Momentum Stock: Skechers USA, Inc.

Posted: 05 Aug 2010 11:05 PM PDT

Skechers USA, Inc. (NYSE:SKX) is fresh off the heels of another awesome quarter, posting an 86% earnings surprise in late July. Estimates have since taken a nice jump forward, with the next-year estimate now projecting 12% growth.
Company Description
Skechers USA, Inc. designs and sells footwear for men, woman and children in the United States and internationally. The company was founded in 1992 and has a market cap of $1.61 billion.
While consumers are still battling high levels of unemployment, … [visit site to read more]


Aggressive Growth Stock: Steven Madden

Posted: 05 Aug 2010 11:05 PM PDT

Steven Madden (NASDAQ:SHOO) is pressuring its all-time high as earnings estimates continue to climb on the heels of a record-setting quarter.
Company Description
Steven Madden makes footwear and accessories for the entire family through owned and licensed brands.
Net Income up 63%
On Jul 29 Steve Madden reported second quarter results that were driven by a 36% jump in sales, to almost $159 million. The company’s operating margin also continues to improve, this time up 360 bps to 20.2%.
Both of those … [visit site to read more]


Growth & Income Stock: Cardinal Health

Posted: 05 Aug 2010 11:05 PM PDT

Cardinal Health (NYSE:CAH) is in a stable industry with steady revenues and a safe dividend.
Growth and Income
The company is expected to grow its EPS 10.8% over the next three to five years. The stock also offers investors a dividend yield of 2.3%.
This Zacks #2 Rank stock trades at 13.4x fiscal year 2011 consensus EPS estimates.
Business
Cardinal Health provides health care products and services primarily in the US. Its largest segment distributes branded and private-label pharmaceuticals to … [visit site to read more]


Bear Of The Day: Eastman Kodak Co. (EK)

Posted: 05 Aug 2010 11:05 PM PDT

Eastman Kodak Company (NYSE:EK) reported disappointing results for the second quarter of 2010 based on lower prices and higher raw material costs. We believe this will continue in the near future based on a slower market recovery.
Thus, we reduced our earnings estimate for the quarter and fiscal year. Moreover, a highly competitive market and Kodak’s huge exposure to volatile products pose immense risks. The company also faces integration and other risks related to acquisitions, strategic … [visit site to read more]


Bull Of The Day: Biogen Idec (BIIB)

Posted: 05 Aug 2010 11:05 PM PDT

Biogen Idec (NASDAQ:BIIB) reported second-quarter earnings per share of $1.27, well above the year-ago figure of $0.73 and the Zacks Consensus Estimate of $1.08. Revenue increased 11% to $1.2 billion, with Tysabri and Rituxan being the primary growth drivers.
Based on second quarter results and Biogen’s new guidance for 2010, we have raised our earnings estimate for 2010 by 29 cents to $4.73. Key products Avonex and Tysabri continue to contribute significantly to sales and we expect Biogen to … [visit site to read more]


Russia Bans Grain Exports In Light Of Severe Drought

Posted: 05 Aug 2010 11:01 PM PDT

Russia yesterday (Thursday) banned grain exports after unrelenting heat left the country with its worst drought in at least a half-century.

Wheat rose to a 23-month high after Russia, the world’s third-largest grower, announced a ban beginning Aug.15 that will last through the end of the year. Corn and rice prices also surged yesterday after Russian Prime Minister Vladimir Putin said a ban on those grains would be “appropriate” in light of skyrocketing prices.

Domestic grain prices … [visit site to read more]


How Will U.S. Non-Farm Payrolls Affect Friday’s Stock Market?

Posted: 05 Aug 2010 09:29 PM PDT

Higher-than-expected weekly unemployment claims was the main headline for Thursday, which ended as the lowest volume trading day of the year.  We had a gap-down this morning that slightly intensified.  Soon thereafter, the bulls pulled out a nice bounce that slowly worked its way higher into the close.

We continue to show support around the 200-day moving average of 1115 in the S&P 500.  If we were to break that, we should expect selling pressure towards the bottom of the recent … [visit site to read more]


Singapore Stock Market Update For Friday 06 August

Posted: 05 Aug 2010 06:35 PM PDT

Morning Highlights

Singapore Stock prices fell slightly in opening trades after disappointing US economic data, including an unexpected rise in jobless claims and unimpressive July retail sales. STI opened at 3004.24 and fell below 3000 shortly.
Other Asian Markets were also weighed down. Investors are trading cautious ahead of key U.S. jobs data.
Watch out for Economic News Release Today:

U.S. Change in July Non-farm Payrolls

U.S. July Unemployment Rate

Results Earnings from … [visit site to read more]


While Markets Wait For NFP, Back To School Spending Numbers Slow

Posted: 05 Aug 2010 06:15 PM PDT

Trading volume was light today. Many market participants were on the sidelines, waiting for Friday’s nonfarm payrolls report that comes out premarket at 8:30am ET. Most economists are predicting that the unemployment rate will rise to 9.6% from June’s 9.5%. (To access the Economic Calendar, login to your account and click on the Research tab.) Unemployment numbers and consumer confidence ultimately affect consumer spending. Many retailers reported July sales today. Results were mixed … [visit site to read more]


Stock Picks For Friday 6 August: Royale Energy, American Capital, A123 Systems, Ciena

Posted: 05 Aug 2010 06:11 PM PDT

( click to enlarge )

Shares of Royale Energy (NASDAQ:ROYL) soared 8.25% to 2.23 after the company announced that it has posted a $1,888,666 improvement in the first half of 2010, earning $702,879 compared to a net loss of $1,185,787 for the same six month in 2009. The majority of this income was attributed to the three months ended June 30, 2010 in which earnings were $1,075,394 compared to a loss of $294,731 in 2009. The stock has been on my list many times over the past few weeks, but … [visit site to read more]


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