Thursday, August 26, 2010

Daily Markets - ProLogis’ New Industry Report

Daily Markets - ProLogis’ New Industry Report

ProLogis’ New Industry Report

Posted: 26 Aug 2010 07:35 AM PDT

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, has recently unveiled a new research report on the state of the industrial property markets in the U.S. and Canada. The research report, titled "On the Mend", concluded that improving economic conditions have eventually fuelled a recovery in industrial real estate and the stage is set for a continuing recovery with limited new supply in the pipeline.
 
The in-depth study analyzed the market statistics compiled … [visit site to read more]

Petrobras’ Waste-to-Ethanol Venture

Posted: 26 Aug 2010 07:35 AM PDT

Brazilian state-run energy giant Petroleo Brasileiro S.A. (NYSE:PBR), or Petrobras S.A., has teamed up with Rapid City, South Dakota-based ethanol producer KL Energy Corporation ("KLE") to optimize the latter's proprietary technology. Petrobras' U.S. subsidiary, Petrobras America Inc, has signed a Joint Development Agreement in this regard.
 
The deal calls for the companies to work together on KLE's patented cellulosic ethanol process technology – that uses wood, grasses, or the … [visit site to read more]

Monster Acquires HotJobs

Posted: 26 Aug 2010 07:35 AM PDT

Monster Worldwide, Inc. (MWW) recently completed the acquisition of HotJobs for $225 million in cash. HotJobs is a leading online recruitment website which was previously owned by Yahoo! Inc. (NASDAQ:YHOO).

As per the terms of the deal, Monster and Yahoo! have also entered into a three-year commercial traffic agreement, whereby Monster will become Yahoo!’s exclusive provider of career and job content on the Yahoo! homepage in the United States and Canada.

The HotJobs acquisition will add 6 to 12 … [visit site to read more]

Stock Market News Briefs: Boeing Company, Brush Engineered Materials, Deutsche Bank AG, Goldman Sachs Group, Medtronic, Morgan Stanley, Taiwan Semiconductor Manufacturing Company Limited, UBS AG, Apple, Charles Schwab, Cree, Google, NASDAQ OMX Group, Patterson Companies

Posted: 26 Aug 2010 07:05 AM PDT

 Apple (NASDAQ:AAPL) shares gained 1.2% on reports that the company is expected to introduce iPods with cameras and/or TV capability

 Google (NASDAQ:GOOG) announced that it will add phone calling feature to its Gmail email service, offering competition to Skype

 Goldman Sachs (NYSE:GS) reiterated a “Conviction Buy” on Boeing (NYSE:BA), raised second half earnings estimates and set a price target of $84

 Morgan Stanley (NYSE:MS) downgraded NASDAQ (NASDAQ:NDAQ) and Schwab (NASDAQ:SCHW) from … [visit site to read more]

CAEI Buys A Major Stake In ConnGame

Posted: 26 Aug 2010 07:05 AM PDT

China Architectural Engineering Inc. (NASDAQ:CAEI) announced the completion of its acquisition of a 60% stake in Shanghai ConnGame Network Ltd. ,aka ConnGame, an MMORPG (Massively Multiplayer Online Role Playing Game) developer and operator, equal to 25 million shares of China Architectural's common stock.
China Architectural had announced in the fourth quarter of fiscal 2009, that it has signed a letter of intent to acquire ConnGame. In the first quarter of fiscal 2010, shareholders of China … [visit site to read more]

Mixed Results For Burger King

Posted: 26 Aug 2010 07:05 AM PDT

Burger King Holdings Inc.(NYSE:BKC) posted fourth quarter and full year 2010 adjusted earnings per share of 36 cents and $1.36, respectively, which surpassed the Zacks Consensus Estimates of 34 cents for the fourth quarter and $1.35 for fiscal 2010. However, both fourth quarter and full year earnings dropped 16% and 8% from 43 cents and $1.48 delivered in the comparable year-ago quarter and prior year, respectively.
 Fourth Quarter Performance 
Burger King's total revenue plunged 1% … [visit site to read more]

Chase Tops 900,000 Modifications

Posted: 26 Aug 2010 07:05 AM PDT

JPMorgan Chase & Co.'s (NYSE:JPM) U.S. consumer and commercial banking arm Chase said on Wednesday that it has offered more than 900,000 mortgage modifications since the beginning of 2009.
 
Chase continues to proceed swiftly with its extensive and incessant use of the federal Home Affordable Modification Program (HAMP) along with its other modification programs in an attempt to reduce the number of foreclosed homes across the U.S.
 
Of the total modifications offered, more than … [visit site to read more]

Forex Trading: USDJPY:84.80 Proves To Be A Problem Level For Bulls

Posted: 26 Aug 2010 07:04 AM PDT

The 84.80 level was the low in November 2009 and the market did not reach that level again until this month when the price moved to 84.71. ON Friday the price moved to the new 15 year lows at the 83.57 level and has rebounded modestly over the last few days. With a narrow trading range today, look for a range extension. With rejection above against the 84.80, a move low may be the way. Risk is a move above 84.64 … [visit site to read more]

Forex Markets Wait For Jackson Hole Symposium

Posted: 26 Aug 2010 06:45 AM PDT

An uncanny tranquility has spread over the Forex Market this morning. There was a feeling leaving the office yesterday that renewed fears of a global double-dip recession and sovereign risks were going to spiral out of control. However, US equity markets managed to close in positive territory while bond yields were mixed.

During the Asian session, regional equity market indexes were able to stabilize and Forex risk-correlated trades gained some ground. After yesterday’s torrent of … [visit site to read more]

Forex Trading: USDCAD: 1.0551 Key Level. It Is Time To Make A Move.

Posted: 26 Aug 2010 06:43 AM PDT

Huntington Reiterated At Neutral

Posted: 26 Aug 2010 06:35 AM PDT

We are reiterating our Neutral recommendation on Huntington Bancshares Inc. (NASDAQ:HBAN) following the company's earnings release. The reaffirmation is based on the company's business model, strategic initiatives, credit environment, opportunities and challenges.
 
Second Quarter Performance
 
Huntington reported a profit of $48.8 million or 3 cents per share, ahead of the Zacks Consensus Estimate of a break-even quarter. The better-than-expected results were primarily driven by a … [visit site to read more]

Cyberonics Beats, Ups Guidance

Posted: 26 Aug 2010 06:35 AM PDT

Cyberonics (NASDAQ:CYBX) reported an EPS of 25 cents in the first quarter of fiscal 2011, surpassing both the Zacks Consensus Estimate of 21 cents and 23 cents in the year-ago period. However, excluding the benefit associated with debt refinancing, EPS in the first quarter of fiscal 2010 was 15 cents.
 
Cyberonics is a medical technology company with core expertise in neuromodulation. The company has developed the Vagus Nerve Stimulation (VNS) therapy system, meant for the treatment of … [visit site to read more]

Repros Schedules Meeting With FDA

Posted: 26 Aug 2010 06:35 AM PDT

Biopharmaceutical company Repros Therapeutics Inc. (NASDAQ:RPRX) recently announced that it intends to conduct a type B meeting with the US Food and Drug Administration (FDA) regarding the phase III protocol for the company's lead pipeline candidate, Androxal. Earlier this month, the company had received a feedback from the FDA regarding the company's plans to conduct two phase III studies with Androxal.
Repros is developing Androxal for the treatment of secondary hypogonadism in men, who want … [visit site to read more]

JDS Uniphase Misses By A Penny

Posted: 26 Aug 2010 06:35 AM PDT

Yesterday, after market close, JDS Uniphase Corp. (NASDAQ:JDSU) declared its fourth quarter of fiscal 2010 financial results. On a GAAP basis, quarterly net income was $1.5 million or an income of 1 cent per share compared with a net loss of $63.6 million or a loss of 29 cents per share in the year-ago quarter. However, quarterly adjusted (excluding special items) EPS was 9 cents, a penny short of the Zacks Consensus Estimate of 10 cents.
 
In the after market trade on NASDAQ, stock price … [visit site to read more]

Silver To Make A Major Move On Breakout

Posted: 26 Aug 2010 06:20 AM PDT

Silver had very powerful break out Wednesday as investors are seeking assets that are safe and will retain value during a debt crisis.  Silver is  seeing demand at these price levels as it is historically cheap relative to gold.  If the ratio came down to the levels it was in 2006 it would be close to $27 an ounce.  Silver is soaring because investors are realizing this is a hard asset, it is money and it is historically cheap compared to gold.

Gold has reached overbought … [visit site to read more]

Swiss Franc: Under Pressure

Posted: 26 Aug 2010 06:18 AM PDT

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

Japanese Yen: The Downside Prevails

Posted: 26 Aug 2010 06:18 AM PDT

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

British Pound: Rebound

Posted: 26 Aug 2010 06:18 AM PDT

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

Euro: Rebound

Posted: 26 Aug 2010 06:18 AM PDT

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

TiVo Beats But Loss Widens

Posted: 26 Aug 2010 06:05 AM PDT

A leading provider of advanced television services, TiVo Inc. (NASDAQ:TIVO) reported better-than-expected second quarter of fiscal 2011 results. A loss per share of 13 cents beat the Zacks Consensus Estimate of 15 cents, but decreased from year-ago quarter's loss of 3 cents per share.

The year-over-year decline was mainly due to weak revenue growth, lower subscriber additions and increasing operating expenses based on higher litigation expense.

Net loss for the quarter came in at $15.3 million … [visit site to read more]

Lockheed Adds $111.4M Contract

Posted: 26 Aug 2010 06:05 AM PDT

The U.S. Air Force has awarded Lockheed Martin Corporation (NYSE:LMT), the largest U.S. defense contractor, an extension contract worth $111.4 million for its F-22 Raptor fleet. This extension brings the total value of the contract to $709 million.
This $111.4 million contract follows on the contract that was originally granted to Lockheed in 2008 and extended in 2009. Under the 2010 Follow-On Agile Sustainment for the Raptor (FASTeR) Performance-Based Logistics contract, Lockheed will provide … [visit site to read more]

Hain Celestial Bottom-Line Outdoes

Posted: 26 Aug 2010 06:05 AM PDT

The Hain Celestial Group Inc. (NASDAQ:HAIN), which distributes, markets and sells various natural and organic foods as well as personal care products, recently posted fourth-quarter 2010 results.
 
The quarterly earnings of 26 cents a share outdid the Zacks Consensus Estimate of 24 cents, and surged 23.8% from 21 cents delivered in the prior-year quarter. On a reported basis, including one-time items, earnings came in at 16 cents a share compared with 3 cents earned in the year-ago … [visit site to read more]

Manulife To Restructure Its Funds

Posted: 26 Aug 2010 06:05 AM PDT

To streamline and augment its fund offering, Manulife Mutual Funds, a division of Manulife Asset Management Limited, in turn a unit of Manulife Financial Corporation (NYSE:MFC), decided on mergers and closures of several funds in October/November 2010.
 
The decision to streamline the fund mandates came on the back of a detailed review of all fund mandates following the acquisition of AIC Limited's Canadian retail investment fund business in September 2009.
 
Earlier, on August 12, … [visit site to read more]

US Stock Market Returns – What Is In Store?

Posted: 26 Aug 2010 05:48 AM PDT

Stock market movements since the start of the credit crisis have been characterised by relatively high volatility as uncertainty became paramount. And as new pieces of the economics puzzle are added every day, investors are increasingly struggling to make sense of the most likely direction of stock prices.
It seems to be a case of so many pundits, so many views. Has the market started topping out and is a primary bear market about to resume, or is a new secular bull market merely correcting the … [visit site to read more]

Doug Kass: “I Just Can’t Be That Negative Now”

Posted: 26 Aug 2010 05:47 AM PDT

Despite the the stock market averages taking a nosedive over the past few, strategist Doug Kass said on Tuesday he "just can't be that negative now".
That's largely because Kass thinks the doom-sayers – such as economist David Rosenberg of Gluskin Scheff, who said the economy is in a depression, not a recession – are missing key points. Click on the image for the … [visit site to read more]

Hot Stock News For Thursday 26 August: Citigroup, Apple, Wal-Mart, Dell, Sanofi Aventis

Posted: 26 Aug 2010 05:47 AM PDT

Another round of depressing economic data was largely overlooked by market participants and in spite of a slow start, equities trended higher during the latter half of the session which saw the major averages post decent gains. The move higher was led by consumer services and health care sectors. Elsewhere, NASDAQ 100 outperformed its peers throughout the session; led by Apple (NASDAQ:AAPL) (+1.23%) on the back of reports that co. is to hold an event in September. Finally, at the closing … [visit site to read more]

ECRI Watch: Growth Adjusted Downwards, Further Weakening Ahead!

Posted: 26 Aug 2010 05:45 AM PDT

The ECRI Weekly Indicator for the week ended August 13 came in at 120.8 compared to the previous week's downward adjusted 122.0. The closely watched ECRI WLI Smoothed Annualised Growth Rate came in at -10.0% compared to the downward adjusted -10.2% (previously -9.8%) of the previous week. That compares with our forecast of "weakened".
The smoothed annualised growth rate of the S&P 500 fell from 2.4% to 0.6%.

Sources: ECRI (various internet sources); I-Net; Plexus Asset … [visit site to read more]

Laugh Out Loud: Economic Recovery Recalled

Posted: 26 Aug 2010 05:41 AM PDT

Thursday Market Analysis: Gold Surges Amidst Investors’ Worries

Posted: 26 Aug 2010 05:37 AM PDT

Equities:
The equity sell off continues as Japan’s Nikkei tumbles below 9,000 after losing 150pts yesterday’s. The Nikkei closed at 8,845 and well off it’s 2010 open. European markets lost more ground again on Wednesday after the FTSE 100 dropped 0.90% to close at 5,109. The Stoxx Europe 50 gave back 0.71% to finish the session at 2,416. In the U.S, markets initially tanked from the opening bell, falling as low as 9,950 before retracing their losses. The ratio of advancers to decliners … [visit site to read more]

South African Productivity

Posted: 26 Aug 2010 05:36 AM PDT

By Cees Bruggemans, Chief Economist of FNB.
Congested highways into Cape Town, Johannesburg, Pretoria and Durban even after 09h00 on workdays, and again on the way out even before 16h00 tell a story about dismal productivity which makes a disappointing 2%-3% growth performance all but inevitable.
In addition, I remember a tale being told about another country where the authorities in charge elected to erect hand railings in the middle of the main corridors at all the main government … [visit site to read more]

PetroChina First Half Profit Rises

Posted: 26 Aug 2010 05:35 AM PDT

Chinese energy giant PetroChina Co. Ltd. (NYSE:PTR) announced its first half 2010 earnings of RMB 65.3 billion or RMB 0.36 per diluted share, compared with RMB 50.5 billion or RMB 0.28 per diluted share in the year-earlier period. Earnings per ADR came in at $5.29 (Exchange rate: US$1.00 = RMB 6.8, 1 ADR = 100 shares).
 
The positive comparisons can be primarily attributable to soaring oil prices and stronger volumes that more than offset weak refining margins. PetroChina's total … [visit site to read more]

EUR/USD Extends Wednesday’s Advance As The Euro-Zone’s M3 Money Supply Advances In July; Price Action Remains Capped By 50-Day SMA

Posted: 26 Aug 2010 05:00 AM PDT

Fundamental Headlines
• SEC Votes to Boost Power Over Boards – Wall Street Journal
• Investors Now See "Extended Pause" – Wall Street Journal
• Japan's PM Faces Leadership Threat - Financial Times
• Europe Loan Growth Accelerates as Economy Recovers- Bloomberg
• Bank of China First-Half Profit Gains 27% on Loans – Bloomberg
EUR/USD: M3 money supply in the 16 member euro area advanced an annualized 0.2 percent in July after climbing 0.2 percent the previous month, while … [visit site to read more]
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