Daily Markets - Hot Stock News For Tuesday 31 August: Research In Motion, Rio Tinto, BHP Billiton, RBS, HSBC, BP

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• Hot Stock News For Tuesday 31 August: Research In Motion, Rio Tinto, BHP Billiton, RBS, HSBC, BP
• Forex Trading: The Yen Is A Battleground
• Yamana Gold Seems Ready To Make A Big Move
• Renewable Auction Mechanism May Boost Solar ETFs
• Forex Trading: EURUSD Stays Above 100 Day MA At 1.2712. Squeezes Higher
• Stock Market News Briefs: Bank Of America, Citigroup, Deere & Company, Exelon, Gap, Piper Jaffray Companies, Rio Tinto Plc, Saks Incorporated, Sanofi-Aventis SA, V.F., Wells Fargo & Company, Genzyme Corporation
• HST Completes Union Square Takeover
• AngioDynamics Improves VenaCure
• Forex Trading: USDCHF Falls To 19 Month Lows. Approaching Support At 1.0158.
• US Housing Market Getting Worse And Worse
• Gold In A Potential Coil Formation
• Global Economic Recovery Watch: India +8.8%
• Good News For Alimera’s Pipeline
• Case-Shiller Home Price Indexes Highest Since ‘08
• Swiss Franc: Under Pressure
• Japanese Yen: The Downside Prevails
• British Pound: Rebound
• Euro: Rebound
• Buy Now Or Wait? Check The Airfare Prediction Tool
• Expeditors Upgraded To Outperform
• A.M. Best Hikes Ameriprise Rating
• Valuation-Informed Indexing: Overvaluation Cannot Be “Exploited” Away
• ECON 101: The Answer To A Housing Recovery Is Lower Prices, Not Incessant Government Tinkering
• Forex Trading: USDCAD Moves Higher On Weaker Growth. Less Rate Pressure
• Motorola Merges Android With MING
• Canadian Personal Finance & Investing Carnival
• Euro-Zone Unemployment Remains At A 12 Year High, U.K. Total Net Lending Disappoints
• In The Spotlight: PIMCO Short Term Municipal Bond Fund (SMMU)

Hot Stock News For Tuesday 31 August: Research In Motion, Rio Tinto, BHP Billiton, RBS, HSBC, BP Posted: 31 Aug 2010 07:45 AM PDT UK Banks - The companies, which include members of the FTSE100, are preparing to argue publicly that dividing the banks’ retail and investment banking arms will make everyday business activities more expensive and less efficient. The campaign will be the first large-scale intervention by Britain’s corporations - the banks’ biggest customers - in the highly-charged debate on financial reform. (Telegraph) UK BP (NYSE:BP) - Co. delayed retrieval of the failed blowout preventer atop its … [visit site to read more]

Forex Trading: The Yen Is A Battleground Posted: 31 Aug 2010 07:38 AM PDT The Euro jumped in the European session as risk appetite returned to the market. The Euro currently trades around 1.27. The tug of war between traders and Bank of Japan is continuing to intensify as Yen trades below a pivotal 85.00 threshold. The British Pound moderated to 1.5370 as economic data continued to disappoint. The Australian economy is continuing on rolling which is positively reflected in the price of Aussie. The Down Under currency appreciated to 0.90 on stellar … [visit site to read more]

Yamana Gold Seems Ready To Make A Big Move Posted: 31 Aug 2010 07:19 AM PDT I will admit it. I was thinking of not doing the Chart of the Day section today. And if you have read my post on how to trade markets such as these from earlier this evening, then you know the reason why. I will be damned if I know whether we end in the green or in the red tomorrow. But here lies the problem. As the regular readers of this blog (and thanks for being regular readers!), I started the Chart of the Day section just yesterday and I would hate to have a no show on just the second … [visit site to read more]

Renewable Auction Mechanism May Boost Solar ETFs Posted: 31 Aug 2010 07:17 AM PDT Recently, the State of California proposed a decision to adopt to a renewable auction mechanism (RAM) which enables rates to be set my market-pricing, which could lead to a new avenue of growth for ETFs like the Claymore/MAC Global Solar Energy Index (TAN), the Market Vectors Solar Energy ETF (KWT) and the Market Vectors Glb Alternative Energy ETF (GEX). This proposed subsidy is expected to work as a feed-in-tariff, which will use market-rate pricing that is being set and driven by a … [visit site to read more]

Forex Trading: EURUSD Stays Above 100 Day MA At 1.2712. Squeezes Higher Posted: 31 Aug 2010 07:16 AM PDT … [visit site to read more]

Stock Market News Briefs: Bank Of America, Citigroup, Deere & Company, Exelon, Gap, Piper Jaffray Companies, Rio Tinto Plc, Saks Incorporated, Sanofi-Aventis SA, V.F., Wells Fargo & Company, Genzyme Corporation Posted: 31 Aug 2010 07:05 AM PDT  Some private investors are reportedly considering an offer for Saks (NYSE:SKS). The offer values the luxury retailer at $1.7 billion, or $11 per share  Citigroup (NYSE:C) noted Sanofi-Aventis (NYSE:SNY) may bid up to $74-$77 per share for Genzyme (NASDAQ:GENZ)  Deere (NYSE:DE) plans to sell its wind energy unit to Exelon (NYSE:EXC) for $860 million  Wells Fargo (NYSE:WFC) upgraded Gap (NYSE:GPS) to “outperform” from “market perform,” with a price target range of $20-$22  Bank of … [visit site to read more]

HST Completes Union Square Takeover Posted: 31 Aug 2010 07:05 AM PDT A recent favorable bankruptcy court ruling paved the way for the acquisition of  W Union Square, a premium luxury hotel in New York, by Host Hotels & Resorts Inc. (NYSE:HST), the largest lodging real estate investment trust (REIT) in the U.S. A bankruptcy petition was filed in March 2010 by a junior mezzanine lender alleging that the hotel owed about $100 million to its creditors.   W Union Square was previously owned by Istithmar World Capital, the Dubai World unit that bought the … [visit site to read more]

AngioDynamics Improves VenaCure Posted: 31 Aug 2010 07:05 AM PDT Therapeutic and diagnostic devices maker AngioDynamics Inc. (NASDAQ:ANGO) has expanded its VenaCure EVLT laser vein treatment with the launch of a new access kit, which will reduce both procedure time and steps for physicians using VenaCure's NeverTouch laser fiber to treat varicose veins (abnormally swollen veins), a condition affecting more than 40 million Americans annually.   The new access kit, which is equipped with a 0.018 inch long-access wire, trims the number of steps (from 8 … [visit site to read more]

Forex Trading: USDCHF Falls To 19 Month Lows. Approaching Support At 1.0158. Posted: 31 Aug 2010 07:04 AM PDT … [visit site to read more]

US Housing Market Getting Worse And Worse Posted: 31 Aug 2010 07:03 AM PDT Just when you thought the housing market couldn’t get worse, it did. New single-family home sales slumped 12.4% in July to a record-low annual rate of 276,000 units, as homebuyers shunned their realtors in the absence of government support. The consensus expectation was for a slight up-tick to a 333,000 unit annual rate, so I suppose it’s time to throw out the models. Sales over the prior three months were also revised lower by 9,000 units. No section of the country was spared, … [visit site to read more]

Gold In A Potential Coil Formation Posted: 31 Aug 2010 06:52 AM PDT We have a potential coil forming on the gold chart. As I’ve mentioned before about 70% of the time the initial thrust out of a coil tends to be a false move soon followed by a more powerful and durable move in the opposite direction. If that holds true then it would be preferable for gold to break out of the coil to the downside. Today will be the 24th day of this daily cycle. The cycle can last up to 30 days and not be out of the ordinary, so it is possible that the daily cycle … [visit site to read more]

Global Economic Recovery Watch: India +8.8% Posted: 31 Aug 2010 06:39 AM PDT Financial Times (free subscription required) — “India's economy grew a brisk 8.8 per cent from April to June, its fastest pace in two-and-a-half years, highlighting the strength of India's economic recovery despite high inflation now acting as a drag on consumer spending. Growth during the first quarter of India's April to March financial year accelerated from the 8.6 per cent last quarter, driven by robust manufacturing and services growth, and a pick-up in farm … [visit site to read more]

Good News For Alimera’s Pipeline Posted: 31 Aug 2010 06:35 AM PDT Recently, Alimera Sciences' (ALIM) pipeline received a boost when the US Food and Drug Administration (”FDA”) accepted the New Drug Application (”NDA”) for its lead candidate, Iluvien. Furthermore, the agency has decided to review the application on a priority basis. The company is looking to gain approval for Iluvien for the treatment of diabetic macular edema (DME..   The company filed the NDA with the FDA in late June 2010. The US regulatory authority generally reviews those drugs … [visit site to read more]

Case-Shiller Home Price Indexes Highest Since ‘08 Posted: 31 Aug 2010 06:33 AM PDT New York, August 31, 2010 – “Data through June 2010, released today by Standard & Poor's for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter. Nationally, home prices are 3.6% above their year-earlier levels. In June, 17 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were … [visit site to read more]

Swiss Franc: Under Pressure Posted: 31 Aug 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Downside Prevails Posted: 31 Aug 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: Rebound Posted: 31 Aug 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: Rebound Posted: 31 Aug 2010 06:18 AM PDT Update on supports and resistances. … [visit site to read more]

Buy Now Or Wait? Check The Airfare Prediction Tool Posted: 31 Aug 2010 06:10 AM PDT When booking air travel, the dilemma is often: should I buy now or wait later to try to get a better price?  Now you’ve got some help.  The Bing Travel Farecast provides a free airfare prediction tool that allows you to specify your travel dates and destinations, and you’ll get a prediction of whether fares for your flight are rising or falling, so you can decide whether you should buy now or wait. From the Bing website: “According to a third-party audit of … [visit site to read more]

Expeditors Upgraded To Outperform Posted: 31 Aug 2010 06:05 AM PDT Following the strong second quarter results, we are upgrading our recommendation to Outperform from Neutral on Expeditors International of Washington Inc. (NASDAQ:EXPD), a provider of logistics services. Currently, the stock has a Zacks Rank of #1 (Strong Buy).   Expeditors' debt-free balance sheet, superior execution, and ability to return cash to shareholders in the form of dividends make it attractive for investment. Over the long term, we continue to expect Expeditors to outperform its … [visit site to read more]

A.M. Best Hikes Ameriprise Rating Posted: 31 Aug 2010 06:05 AM PDT On Monday, A.M. Best upgraded its outlook on Ameriprise Financial Inc. (NYSE:AMP) to 'Stable' from 'Negative'. The rating agency also confirmed its issuer credit rating (ICR) at 'aa-' and financial strength rating (FSR) at 'A+' for the company's primary life insurance subsidiaries − RiverSource Life Insurance Company and RiverSource Life Insurance Company of New York.   The upgrade is based on A.M. Best's improved outlook on the strong risk-adjusted capital position, … [visit site to read more]

Valuation-Informed Indexing: Overvaluation Cannot Be “Exploited” Away Posted: 31 Aug 2010 06:00 AM PDT by Rob Bennett The big problem with Buy-and-Hold Investing is overvaluation. If stock valuations were steady, sticking at the same stock allocation at all times would make perfect sense. In a world in which stocks can become insanely overvalued, it's too dangerous. Overvalued markets always crash. Who wants to be heavily invested in a crashing stock market? University of Chicago Professor Eugene Fama's Efficient Market Theory says it is not supposed to work like this! Inefficiencies in … [visit site to read more]

ECON 101: The Answer To A Housing Recovery Is Lower Prices, Not Incessant Government Tinkering Posted: 31 Aug 2010 05:54 AM PDT “In order for the housing market to build a firm foundation that does not require government aid we will need to see a reduction in prices. Congress is currently discussing creative new ways to prop up this market. It should be plain as day at this juncture that the government cannot fix the housing market with their incessant fidgeting. The market needs to correct further before reaching a sustainable bottom. Lower prices will act as an automatic stabilizer by generating significant demand. … [visit site to read more]

Forex Trading: USDCAD Moves Higher On Weaker Growth. Less Rate Pressure Posted: 31 Aug 2010 05:46 AM PDT … [visit site to read more]

Motorola Merges Android With MING Posted: 31 Aug 2010 05:35 AM PDT Motorola Inc. (MOT), recently launched three MING smartphones in China based on the Andriod operating system of Google Inc. (GOOG). Motorola developed its MING series of mobile handsets especially for China and starting from its launch in 2006; these mobile phones enjoyed an iconic status among the Chinese users.   The newly launched three smarthones will be used in Chinese 3G networks. The handsets are (1) MT810 for China Mobile Ltd's (CHL) TD-SCDMA network (2) XT806 for China Telecom … [visit site to read more]

Canadian Personal Finance & Investing Carnival Posted: 31 Aug 2010 05:10 AM PDT Canadian Personal Finance and Investing Carnival Ladies and Gentlemen. Boys and Girls. Children of all ages. It's time for the fourth edition of the Canadian Personal Finance & Investing Carnival. Once again we didn't receive as many submissions as we'd hoped for so we went ahead and rounded up the best of the best in the realm of Canadian personal finance and investing and will now serve up our findings in this edition of the Canadian Personal Finance & Investing Carnival. In … [visit site to read more]

Euro-Zone Unemployment Remains At A 12 Year High, U.K. Total Net Lending Disappoints Posted: 31 Aug 2010 04:39 AM PDT   Fundamental Headlines • Japan's Decline Leads Asia Stocks Lower – Wall Street Journal • Yen Gains on Dollar, Euro – Wall Street Journal • Bank of Japan Takes Fresh Stimulus Steps - Financial Times • Euro zone Jobless Rate Flat Despite Growth- Bloomberg • Bank of Japan Takes Fresh Stimulus Steps Exports – Bloomberg EUR/USD: The labor force in Germany tumbled 17K in August after falling a revised 21K the month prior amid … [visit site to read more]

In The Spotlight: PIMCO Short Term Municipal Bond Fund (SMMU) Posted: 31 Aug 2010 04:00 AM PDT PIMCO's Short Term Municipal Bond Fund (SMMU: 50.69 0.00%) was launched in late January, 2010 and has since managed to accumulate approximately $18 million in assets, as of the end of July. SMMU is one of 3 actively-managed ETFs that PIMCO has brought to the market. The fund is managed by John Cummings, who is an Executive Vice President and also the head of the municipal bond desk at PIMCO. He also runs PIMCO's Intermediate Municipal Bond Fund (MUNI: 52.53 0.00%) which focuses on longer … [visit site to read more]

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