Thursday, August 5, 2010

Daily Markets - Jack In The Box Misses

Daily Markets - Jack In The Box Misses


Jack In The Box Misses

Posted: 05 Aug 2010 08:05 AM PDT

Jack in the Box Inc. (JACK) posted fiscal 2010 third-quarter earnings of 50 cents per share after the closing bell on Wednesday. The company's earnings came in behind the Zacks Consensus Estimate of 53 cents per share as well as the year-ago result of 57 cents. The worse-than-expected results were primarily caused by sluggish sales and higher overheads.
San Diego-based Jack in the Box is a restaurant company that operates and franchises more than 2,200 Jack in the Box quick-service … [visit site to read more]


Transocean Disappoints On GoM Spill

Posted: 05 Aug 2010 08:05 AM PDT

Transocean Inc. (NYSE:RIG) – the world's largest offshore driller – reported weak second quarter 2010 results, primarily under the influence of increased expenses associated with the Gulf of Mexico accident. Earnings per share, excluding certain charges, came in at $1.66, failing to meet the Zacks Consensus Estimate of $1.69 and the year-earlier adjusted profit of $2.79.
 
Including certain one-time items, earnings per share in the quarter were $2.22, down 10.8% year over … [visit site to read more]


Hot Stocks For Thursday 5 August: Apple, BP, News Corp, Microsoft, Prudential Financial, Boeing, AIG, Rio Tinto, Randgold

Posted: 05 Aug 2010 07:40 AM PDT

Rio Tinto (NYSE:RTP) - Co.’s H1 underlying profit USD 5.8bln vs. Exp. USD 5.5bln, and interim dividend of USD 0.45 per share vs. Exp. USD 0.45 per share. Co. sees FY 2010 capex at USD 6bln, and expects H2 capex up significantly. Co. says global economic conditions to be volatile, and China and India will drive robust commodity demand growth. (RTRS)

UK

BP (NYSE:BP) - Co. said it plans to start pumping cement into its crippled Gulf of Mexico oil well today, the next phase of permanently … [visit site to read more]


Andersons Ups EPS, Misses Revs.

Posted: 05 Aug 2010 07:35 AM PDT

The Andersons Inc. (NASDAQ:ANDE) delivered adjusted earnings per share (EPS) of $1.36 in its second quarter ended June 30, 2010, outperforming the Zacks Consensus Estimate of $1.19, and increasing 56% from 87 cents in the year-ago quarter. The year-over-year improvement reflects strong operating results at Grain & Ethanol Group and Plant Nutrient Group.
 
Total revenue was at par with the year-ago level of $811 million, but fell short of the Zacks Consensus Estimate of $874 million. … [visit site to read more]


Accuray CyberKnife Gets Shonin OK

Posted: 05 Aug 2010 07:35 AM PDT

Accuray Incorporated (NASDAQ:ARAY) reported that its CyberKnife G4 Robotic Radiosurgery System has received the Japanese "Shonin" clearance (pre-market approval) to market the therapy system for non-invasive treatment of all tumor types. The company will sell the product in Japan as CyberKnife Radiosurgery System.  
 
CyberKnife G4 System offers the latest advancements in Accuray's proprietary CyberKnife technology. CyberKnife was first approved in Japan in 1999 for treating head … [visit site to read more]


Foster Wheeler Wins Contract

Posted: 05 Aug 2010 07:35 AM PDT

The Global Engineering and Construction Group of Foster Wheeler AG (NASDAQ:FWLT) has been awarded a contract for setting up an LNG receiving terminal in Uruguay by a state-owned oil company, Administración Nacional de Combustibles, Alcohol y Portland. The value of the contract was not disclosed.
 
The work envisages engineering design and selection of the owner and operator of the terminal. The owner/operator will be responsible for engineering, procurement and commissioning (EPC) of the … [visit site to read more]


Over-Caffeinated?

Posted: 05 Aug 2010 07:18 AM PDT

Fundamentals
Coffee futures have pulled back from the highest levels seen since the Clinton administration due to concerns that the market may be overbought. Coffee roasters have been reluctant to buy at current market levels in light of the fact that the Brazilian bumper crop is expected to be relatively large. However, despite the large crop, many traders are concerned about the scarce availability of quality beans. The cash market in many countries is still trading at or above the current … [visit site to read more]


Stock Market News Briefs: Cardinal Health, CIGNA, Limited Brands, Stage Stores, Time Warner Cable Inc, Costco Wholesale, Foster Wheeler Ltd.

Posted: 05 Aug 2010 07:05 AM PDT

 Viacom (NYSE:VIA.B) posted second quarter earnings of 68 cents, three cents above Zacks estimates, on a 0.1% revenue gain to $3.30 billion, off estimates of $3.43 billion

 Foster Wheeler (NASDAQ:FWLT) missed Zacks estimates by 3 cents with second quarter earnings of 48 cents, as revenues dropped 23.2% from a year earlier to $1.005 billion, below Zacks estimates of $1.1 billion

 Cardinal Health's (NYSE:CAH) fiscal fourth quarter results of 50 cents posted 1 penny above Zacks … [visit site to read more]


Viacom Net Soars On Flat Revs

Posted: 05 Aug 2010 07:05 AM PDT

Viacom Inc. (VIA.B) today declared financial results for the second quarter 2010 with net earnings rising more than 40% year-over-year. However, a flat top-line remains a concern, especially in the Home Entertainment businesses.

Quarterly net income from continuing operation was $418 million or 68 cents per share compared to a net income of $298 million or 46 cents per share in the prior-year quarter. Second quarter 2010 EPS of 68 cents was well above the Zacks Consensus Estimate of 65 … [visit site to read more]


ALNY’s 2Q Loss Down On Lower Costs

Posted: 05 Aug 2010 07:05 AM PDT

Alnylam Pharmaceuticals Inc.'s (NASDAQ:ALNY) second-quarter net loss of 35 cents per share was 20 cents below the loss per share in the second quarter of 2009. The Zacks Consensus Estimate indicated a loss of 30 cents per share for the reported quarter. The narrower year-over-year loss in the second quarter of 2010 was primarily attributable to the lower spend on research and development during the quarter.
 
Revenues for the reported quarter climbed 8% to $26.6 million slightly above the … [visit site to read more]


DIRECTV Beats Zacks Estimates

Posted: 05 Aug 2010 07:05 AM PDT

DIRECTV (NASDAQ:DTV) today declared excellent financial results for its second quarter 2010. Supported by double-digit revenue and significant margin expansion, both top-line and bottom-line outperformed the Zacks Consensus Estimates. During the reported quarter, the company has started two new services: viz and Whole Home DVR, as well as a bundle offering of three dedicated 3D channels.

Second quarter 2010 revenue of $5,848 million was an improvement of 12% year-over-year and well above the Zacks … [visit site to read more]


Vornado Tops Estimates

Posted: 05 Aug 2010 07:05 AM PDT

Vornado Realty Trust (NYSE:VNO), a leading real estate investment trust (REIT), reported second quarter 2010 FFO (funds from operations) of $204.8 million or $1.11 per share, versus $93.5 million or $0.54 in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
 
After adjusting items for comparability, FFO during the second quarter of 2010 was … [visit site to read more]


Forex Trading: EURUSD Comes Down Below Support. 1.3153 Next Key Level To Get Through

Posted: 05 Aug 2010 06:57 AM PDT

European Safety Net = European Unemployment?

Posted: 05 Aug 2010 06:45 AM PDT

Following the post in yesterday’s NY Times Economix blog “Eurosclerosis Comes to America” by Casey Mulligan (U. Chicago economist) the chart above shows monthly payroll employment and monthly job openings (both from BLS) from January 2004 to May 2010 (job openings for June are not yet available).  Casey Mulligan wrote:

“This recession has been unique in terms of the multitude of public policies that dull incentives to work and earn income. Best known are unemployment benefits, … [visit site to read more]


STMicroelectronics Tops View

Posted: 05 Aug 2010 06:30 AM PDT

STMicroelectronics NV (NYSE:STM) reported second quarter 2010 earnings from continuing operations of 18 cents per share, beating the Zacks Consensus Estimate of 14 cents.
STMicroelectronics’ net revenues for the reported quarter were $2,531 million, up 8.9% sequentially. The increase primarily reflects better than seasonal sequential revenue growth trends in ACCI and IMS product segments. However, revenue of STMicroelectronics’ Wireless segment decreased by 10.5%.
On a sequential basis, all market … [visit site to read more]


News Corp Beats Estimate

Posted: 05 Aug 2010 06:30 AM PDT

News Corporation (NWSA) posted better-than-expected fourth-quarter 2010 results on the heels of improved advertising performance at its Television, Cable Networks and Newspaper segments and significant cost-cutting initiatives.

The improvement in advertising trends was witnessed across automotive, retail and telecommunications categories. The quarterly earnings of 30 cents a share outdid the Zacks Consensus Estimate of 20 cents, and rose substantially from a cent delivered in the year-ago … [visit site to read more]


ADC Telecommunications’ Profit Tops

Posted: 05 Aug 2010 06:30 AM PDT

Yesterday, after market close ADC Telecommunications Inc. (NASDAQ:ADCT) declared financial results for the third quarter of fiscal 2010 that beats our expectations. Due to change of the company's reporting fiscal year, management has compared results for the three month period ended July 2, 2010 with the proforma results of its prior-year third quarter ended June 26, 2009. In the after-market trade in NASDAQ, the stock price of ADC Telecommunications was up 2 cents (0.16%) to $12.74.
 
Tyco … [visit site to read more]


Forex Trading: EURUSD Tests Support At 1.3180,but Be Careful

Posted: 05 Aug 2010 06:26 AM PDT

Trichet warned to not make too much of the current data and that has pressured the EURUSD back down. The price is testing support at 1.3180, but be careful of a further move lower. The market may have priced in better comments and the warning comments may get the bulls a little nervous.
The next key level is the 1.3153 which corresponds with the 100 hour MA, the 38.2% retracement of the move up from the July 30th low to the high,  and the trendline support.  A move below that level … [visit site to read more]


Swiss Franc: Under Pressure

Posted: 05 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Japanese Yen: The Downside Prevails

Posted: 05 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


British Pound: Under Pressure

Posted: 05 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Euro: The Downside Prevails

Posted: 05 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Plains Meets Ests, Revenue Climbs

Posted: 05 Aug 2010 06:05 AM PDT

Second quarter 2010 earnings, on an adjusted basis, for Plains All American Pipeline L.P. (NYSE:PAA) came in at 57 cents per unit, meeting the Zacks Consensus Estimate of 57 cents and at the higher end of the company's guidance. However, results in the quarter were below last year's earnings of 74 cents per share.
 
Operational Results 
Plains All American's net revenues of $6.1 billion in the reported quarter were significantly above the Zacks Consensus Estimate of $5.7 billion. … [visit site to read more]


Higher Pricing Pushes Up Rio Tinto

Posted: 05 Aug 2010 06:05 AM PDT

Rio Tinto (NYSE:RTP) reported outstanding interim results for the first half of fiscal 2010. Net earnings attributable to ADR holders of Rio Tinto during the period were $5,845 million, a huge jump from $1,624 million reported in the first half of 2009. The increase was due to the upward movement in the prices of commodities buttressed by lower cost and a slight improvement in the global economy, which enhanced the demand for rough diamonds. Earnings per ADR were $3.00, more than double of $1.36 … [visit site to read more]


Health Care REIT Marginally Beats

Posted: 05 Aug 2010 06:05 AM PDT

Health Care REIT Inc. (NYSE:HCN), a real estate investment trust (REIT) that operates senior housing and health care real estate, reported second quarter 2010 FFO (funds from operations) of 74 cents per share, compared to 80 cents in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
The decrease in year-over-year FFO was primarily due to … [visit site to read more]


Forex Trading: EURUSD Stays Within The Range As Trichet And US Data Dominate

Posted: 05 Aug 2010 05:58 AM PDT

July Monster Employment Index Grows 21% Vs. Last Year, 6th Consecutive Month Of Positive Growth

Posted: 05 Aug 2010 05:44 AM PDT

From today’s Monster Employment report for July:

1. July’s year-over-year growth rate of 21% held steady from the 20.5% annual growth in June, suggesting no significant change in underlying demand for labor nationwide.

2. July was the sixth consecutive month of annual growth in online job availability, and the 21% annual growth rate in July was the highest since July 2006 (see chart). 

3. The Index dropped 3 points in July from June as online job availability eased … [visit site to read more]


Kinross Reports In-Line

Posted: 05 Aug 2010 05:35 AM PDT

Gold miner, Kinross Gold Corporation (NYSE:KGC) recorded net income of $103.8 million or 15 cents per share in the second quarter of 2010, significantly higher than last year's $19.3 million or 3 cents. Excluding one–time charges, the company earned $113.1 million or 16 cents, in line with the Zacks Consensus Estimate.
 
Quarterly revenues leaped 16% to $696.6 million on a 27% hike in average realized gold price to $1,158 per ounce. Pricing gains offset an over 5% decline in gold sales … [visit site to read more]


Forex Trading: EURCHF Corrects Lower To Test Trendline Support

Posted: 05 Aug 2010 05:24 AM PDT

True Strength Index (TSI) - Settings And Techniques

Posted: 05 Aug 2010 04:45 AM PDT

Today’s post will attempt to briefly address some of the recent interest I have heard expressed for the reasons various True Strength Index (TSI) indicator settings may be used.  I will show you some of the choices available, as well as demonstrate advantages to each.  The buy/sell techniques of the ZERO line crossover and the trend line break will be illustrated, as well.

This first chart simply makes the point that the TSI (7,4) setting is faster than the TSI (13,7).  Trust … [visit site to read more]


UBS Loses Huge Auction-Rate Securities Case

Posted: 05 Aug 2010 04:40 AM PDT

Morning in America!!!
Are auction-rate securities holders gaining the upper hand against Wall Street in the fight to gain full justice and restitution with penalties for the improper marketing and distribution of ARS? While 2009 brought many judicial and arbitration defeats for ARS holders, lately we witness a shift in the tide. Thanks to a regular friend of Sense on Cents for sharing that UBS (NYSE:UBS) (Union Bank of Switzerland) not only lost an ARS case but the Swiss bank has to repay ten … [visit site to read more]


Barnes & Noble Will Still Face Structural Issues Even If It’s Acquired

Posted: 05 Aug 2010 04:15 AM PDT

Barnes & Noble Inc. (NYSE:BKS) announced late Tuesday that it would put itself up for sale. But even with its recent struggles analysts aren’t sure of what the company hopes to accomplish.

“There are companies that do this because they have to and there are companies that do this because they have impatient shareholders and I’m not sure what’s driving this kind of statement,” Michael Norris, a senior analyst at Simba Information, told The Associated Press. “It just seems … [visit site to read more]


Rating Agency Feud: S&P Vs. Dagong…For Now

Posted: 05 Aug 2010 03:29 AM PDT

It all started almost a month ago when Dagong, the largest credit rating agency in China, took on S&P, Moody's and Fitch.  Dagong issued its first international sovereign risk report on July 11 by giving 27 countries out of the 50 a markedly different rating than the Western big three.

Dagong did not stop there. It also openly slammed the Western rivals in a Financial Time interview that

“The reason for the global financial crisis and debt crisis in Europe is that the current … [visit site to read more]


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