Daily Markets - Growing Concerned Once Again
Daily Markets - Growing Concerned Once Again |
- Growing Concerned Once Again
- Why Boehner’s Blaming Bureaucrats
- GOL Introduces New Destinations
- Vale In Neutral Lane
- Lexmark Initiates A Legal Battle
- Accenture Wins Outsourcing Deal
- Eaton Acquires Wright Line
- Rating Agencies Upgrade Unisys
- Bob Evans Hikes Dividend
- Analyst Interviews: Alternative Energy Stock Review
- Jabil Downgraded To Neutral
- First Horizon Reiterated At Neutral
- Patterson Ahead By A Penny
- Air Products To Back ArcelorMittal
- Roper’s Rating Affirmed By Moody’s
- Will GDP Growth Be Negative In 3Q?
- Raven Beats Estimates
- Perry Ellis Loss Narrows, Lifts Outlook
- Neutral On Kansas City Southern
- URS Settles I-35W Bridge Litigation
- Forex Trading: USDJPY Comes Down But Range Still Contained
- Markets In Everything: Fantasy Sports Insurance
- Cosan And Shell Join Forces
- Somaxon Strikes Deal With P&G
- Weekly Intermodal Rail Volume Sets 2010 Record
| Posted: 26 Aug 2010 05:03 PM PDT I’ve often made fun of the so-called smart money. Among other things, many of those who hold themselves out to be experts on financial matters failed to see the financial crisis coming and totally missed the boat when it came to predicting the severity of the subsequent downturn.
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| Why Boehner’s Blaming Bureaucrats Posted: 26 Aug 2010 04:07 PM PDT We're moving ever closer to a double-dip. Of course, as I've said before, most Americans never got out of the first one.
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| GOL Introduces New Destinations Posted: 26 Aug 2010 03:35 PM PDT Brazil's largest low-fare airline operator, GOL Linhas Aereas Inteligentes S.A. (NYSE:GOL) has introduced new flights to the city of Montes Claros , in the state of Minas Gerais. Gol has been continuously increasing the frequency of flights to the existing high-demand markets and adding new routes. Recently, it also initiated a couple of flights from Brasilia to the Caribbean. This initiative stems from improving market conditions, which have also bolstered passenger traffic. GOL recorded a … [visit site to read more]
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| Posted: 26 Aug 2010 03:05 PM PDT We reiterate our Neutral recommendation on Vale S.A. (VALE). We are optimistic on the new iron-ore pricing system, the prime reason behind the excellent results during the second quarter of fiscal 2010 with EPADR of 70 cents surging ahead of 15 cents posted in the year-ago quarter. Net operating revenues of $9,658.0 million also almost doubled from $4,948.0 million in the second quarter of 2009 and $6,604.0 million in the previous quarter. However, we are concerned about the instability in … [visit site to read more]
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| Lexmark Initiates A Legal Battle Posted: 26 Aug 2010 03:05 PM PDT Leading printer manufacturer and printing solutions company, Lexmark International Inc. (NYSE:LXK), recently filed a patent infringement complaint with the U.S. International Trade Commission (ITC) against 24 companies. This legal battle is related to issues pertaining to manufacturing, importation and sale of replacement cartridges. As per the latest complaint filed by the printing major, ITC has been requested to issue an order against these companies. The requested ban will be on the import … [visit site to read more]
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| Accenture Wins Outsourcing Deal Posted: 26 Aug 2010 02:35 PM PDT Technology services and outsourcing company Accenture Inc. (NYSE:ACN) announced that it has been awarded with a 3-year contract by Norwegian aluminum producer Norsk Hydro ASA. Financial details were not disclosed. As per the terms of the contract, Accenture will provide technical support and maintenance services globally to two of Norsk Hydro's SAP systems. With these outsourced services, Norsk Hydro expects to maximize the efficiency and cost-effectiveness of its SAP systems, which will help … [visit site to read more]
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| Posted: 26 Aug 2010 02:35 PM PDT Electrical equipment maker Eaton Corporation (NYSE:ETN) announced the completion of its acquisition of Wright Line Holding Inc. The company had agreed to acquire Worcester-based Wright Line on Aug 4, 2010. Maker of information technology equipment, Wright Line's sales were roughly $101 million for the 12 months ended Jun 30, 2010. The company provides customized enclosures, rack systems, and air flow management systems to store, power, and secure mission-critical IT data center … [visit site to read more]
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| Rating Agencies Upgrade Unisys Posted: 26 Aug 2010 02:35 PM PDT Standard & Poor’s (S&P) Ratings Services recently upgraded its corporate credit rating on Unisys Corporation (NYSE:UIS) to B+ from B driven by improved operating performance. The 'B' rating from S&P indicates that the financial situation of the company will vary noticeably and continues to be non-investment grade. Nevertheless, S&P suggested that the company now has adequate liquidity and positive cash flows will help combat the decline in revenues. Earlier, Moody’s … [visit site to read more]
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| Posted: 26 Aug 2010 02:35 PM PDT Bob Evans Farms Inc. (NASDAQ:BOBE), a full-service restaurant company that operates under the brands Bob Evans and Mimis Cafes, recently announced its decision to hike quarterly dividend by 2 cents to 20 cents. This translates to an 11.1% increase from the prior dividend of 18 cents. The increased dividend will be paid on Sep 21, 2010, to stockholders of record on Sep 7, 2010. This brings the new dividend yield to 3.1% from 2.8%. Bob Evans further enhanced shareholder value by repurchasing 170,000 … [visit site to read more]
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| Analyst Interviews: Alternative Energy Stock Review Posted: 26 Aug 2010 02:05 PM PDT OUTLOOK Like everyone else, the Alternative Energy industry was hit hard by the Great Recession and essentially remains in a recovery mode. And while stock prices of alternative energy companies have recovered from their lows, valuations still remain quite attractive by historical standards. Overall industry fundamentals are expected to continue the improving trend into the second half of 2010 and beyond. Notwithstanding current concerns about the near-term the economic outlook, the improving … [visit site to read more]
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| Posted: 26 Aug 2010 02:05 PM PDT We are downgrading Jabil Circuit Inc. (JBL) to Neutral from our previous Outperform rating on negative investor sentiment, as the softer demand environment for electronic products could limit the stock's appreciation in the near term.
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| First Horizon Reiterated At Neutral Posted: 26 Aug 2010 02:05 PM PDT We are reiterating our Neutral recommendation on First Horizon National Corporation (FHN) following the company's earnings release. The reaffirmation is based on the company's business model, strategic efforts, credit environment and regulatory issues.
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| Posted: 26 Aug 2010 01:35 PM PDT Patterson Companies Inc. (PDCO), a leading distributor of dental, companion-pet veterinarian and rehabilitation medical supplies in the U.S. and Canada, reported first-quarter fiscal 2011 (ended July 31, 2010) results with earnings per share of 45 cents beating the Zacks Consensus Estimate by a penny while surpassing the year-ago earnings of 38 cents. Net income jumped 19.6% year-over-year to $53.9 million on the back of higher sales.
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| Air Products To Back ArcelorMittal Posted: 26 Aug 2010 01:35 PM PDT Air Products and Chemicals Inc. (NYSE:APD) has won another contract from ArcelorMittal (NYSE:MT), to supply gases including oxygen, nitrogen and argon to the world's largest steel maker's Gent, Belgium steel facility. The Gent steel mill is operated under ArcelorMittal's Belgium Affiliate. Financial terms of the agreement were not disclosed. Under the current agreement, Air Products will construct a third on-site air separation unit at the Gent site to support ArcelorMittal in meeting its … [visit site to read more]
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| Roper’s Rating Affirmed By Moody’s Posted: 26 Aug 2010 01:35 PM PDT Moody’s Investors Service, a subsidiary of Moody’s Corp. (NYSE:MCO) confirmed its senior unsecured rating of 'Baa3', a low-end investment grade rating and its senior subordinate debt as Ba1, a speculative grade rating for Roper Industries Inc. (ROP).
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| Will GDP Growth Be Negative In 3Q? Posted: 26 Aug 2010 01:05 PM PDT Yesterday's double dose of bad economic news seriously raises the possibility that GDP growth in the third quarter will be negative. That does not mean a double dip for sure, since the general rule of thumb is that a recession is two back-to-back quarters of negative GDP, although the official definition by the National Bureau of Economic Research (NBER) is a bit more complex than that. Also, the NBER, which is the official arbiter of these things, has not yet ruled on when the Great … [visit site to read more]
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| Posted: 26 Aug 2010 01:05 PM PDT Raven Industries Inc. (RAVN) delivered earnings per share (EPS) of 46 cents in its second quarter ended July 31, 2010, surpassing the Zacks Consensus Estimate of 39 cents and 34 cents in the year-ago period. Higher revenues due to a surge in demand in several of its end-markets, including energy, precision agriculture, and military surveillance, led to the outperformance.
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| Perry Ellis Loss Narrows, Lifts Outlook Posted: 26 Aug 2010 01:05 PM PDT Perry Ellis International Inc. (PERY) posted a narrower GAAP net loss of $2.0 million in the second quarter of fiscal 2011, compared to a net loss of $5.3 million in the year-ago period. Excluding special items, adjusted net loss per share came in at 11 cents better than the Zacks Consensus Estimate for a loss of 16 cents per share.
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| Neutral On Kansas City Southern Posted: 26 Aug 2010 12:35 PM PDT We initiate coverage for Kansas City Southern (NYSE:KSU) with a Neutral recommendation, which means the stock will perform mostly in line with the broader market. The company posted strong financial results for the second quarter 2010, beating the Zacks Consensus Estimate. Improvement in business volumes, effective cost control measures, and solid pricing environment are the primary reasons for this excellent result.
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| URS Settles I-35W Bridge Litigation Posted: 26 Aug 2010 12:35 PM PDT URS Corporation (NYSE:URS) has entered into an agreement to settle the I-35W Bridge litigation. The company agreed to pay $52.4 million to resolve the last major lawsuit over I-35W Bridge Collapse.
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| Forex Trading: USDJPY Comes Down But Range Still Contained Posted: 26 Aug 2010 12:19 PM PDT |
| Markets In Everything: Fantasy Sports Insurance Posted: 26 Aug 2010 12:10 PM PDT Now available for the 2010 NFL season - disability insurance for fantasy players. Featured last year on … [visit site to read more]
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| Posted: 26 Aug 2010 12:05 PM PDT Cosan S.A. and Shell International Petroleum Company Limited signed a binding agreement to form a $12.00 billion joint venture for the production of ethanol, sugar and power, and the supply, distribution and retail of transportation fuels. Regulatory approvals are still awaited.
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| Posted: 26 Aug 2010 12:05 PM PDT Somaxon Pharmaceuticals Inc. (NASDAQ:SOMX) shares received a major boost recently with the company entering into a co-promotional deal with Procter & Gamble (NYSE:PG) for its insomnia treatment Silenor. Somaxon shares were up 28.8% on the news. Silenor is approved for the treatment for insomnia characterized by difficulty with sleep maintenance.
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| Weekly Intermodal Rail Volume Sets 2010 Record Posted: 26 Aug 2010 11:57 AM PDT WASHINGTON, D.C. – Aug. 26, 2010 – “The Association of American Railroads (AAR) today reported rail intermodal volume on U.S. railroads for the week ending Aug. 21, 2010 set a new 2010 record for the second consecutive week, with 236,404 total trailers and containers (see top chart), up 22.4 percent from the same week in 2009 (see bottom chart), and up 2.6 percent compared with 2008. Weekly container volume, a subset of intermodal, was the highest on record, also for the second … [visit site to read more]
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