Daily Markets - Stock Picks For Thursday 5 August: Dendreon Corporation, Bank Of Ireland, Motorola

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• Stock Picks For Thursday 5 August: Dendreon Corporation, Bank Of Ireland, Motorola
• The Rich And The Rest Of Us
• IMF: U.S. Real Estate Sectors Could Bring Banking Crisis 2.0
• Why You Should Consider Bracing For A Double-Dip Recession
• SurModics Falls Short
• Silgan Beats EPS, Misses Sales
• Frontier Beats, Reaffirms Outlook
• CenterPoint Falls Below Estimates
• Quanta Services Meets
• Changes In Consumer Spending Boost Appeal In Technology
• ETFs For Currency Debasement
• Earnings Scorecard: MWIV
• DNDN’s Loss Up On Higher Costs
• Donnelley’s Second Quarter Beat
• EMS Beats, Lifts Guidance
• XL Group Beats Estimates
• A Broken Link
• Spectra Misses In Q2
• Impella Trims Abiomed Loss
• Health Net Outshines Estimate
• Titanium’s Profit More Than Doubles
• AXIS Capital Lags Expectations
• Cameron Tops, Overcomes GoM Crisis
• US Growth Potential Is Offset By Chinese Stress Test Fears And Inventory Numbers To Freeze Oil Prices
• Pour Some Sugar On Your Portfolio
• CBS Beats Zacks Consensus
• Devon Gains On Hydrocarbon Prices
• ICE Profits Jump, Beats Ests
• El Paso Beats By A Penny
• Whole Foods Tops, Pares Forecast
• Allegheny Tops Zacks View
• Vertex Loss Narrows, Reaffirms Guidance
• Pitney Bowes Falls Short
• ONEOK Beats, Reaffirms Guidance
• The Enthusiasm Gap And You
• WRB Ramps Buyback, Declares Div
• Mixed Results For Manitowoc
• American Medical Beats By A Whisker
• The Pros And Cons Of Mining In West Africa
• Forex Trading: USDCHF Surges Higher Today Turning Intermediate Trend Bullish

Stock Picks For Thursday 5 August: Dendreon Corporation, Bank Of Ireland, Motorola Posted: 04 Aug 2010 05:57 PM PDT ( click to enlarge ) Dendreon Corporation (NASDAQ:DNDN) surprisingly gapped up with a big upward spread and was accompanied by large volume. The stock closed the day very strong at $39.78 representing a gain of over 17% since Tuesday’s close. If DNDN can break through today’s high of $40, I am a buyer of the stock. This can be a fast moving stock, so watch it closely. The technical daily chart above shows bullish signal as %K line is again on top of %D line and MACD is on top of zero. … [visit site to read more]

The Rich And The Rest Of Us Posted: 04 Aug 2010 05:28 PM PDT Forty of America's richest families or individuals – almost all billionaires – have pledged to donate at least half their fortunes to charity. The total is a whopping $125 billion. Warren Buffett and Bill and Melinda Gates reached out to some 80 members of the Forbes billionaires list, seeking their pledges. I think it's admirable that Bill and Melinda Gates and Warren Buffett give so much to charity and have corralled other billionaires to do the same. But I'm also appalled at what … [visit site to read more]

IMF: U.S. Real Estate Sectors Could Bring Banking Crisis 2.0 Posted: 04 Aug 2010 05:14 PM PDT The International Monetary Fund (IMF) stress tested 53 large banking holding companies and published its findings last month. The report concluded that despite restoration of some stability, there remain certain important risks to the U.S. financial system and economy mainly coming from the real estate sectors: Further increases in nonperforming loans due to high unemployment rate and significant weakness in the real estate sectors Credit quality in the commercial real estate (CRE) sector - … [visit site to read more]

Why You Should Consider Bracing For A Double-Dip Recession Posted: 04 Aug 2010 05:01 PM PDT The Commerce Department confirmed what I’ve been saying for weeks: The economy is in shambles, there is no growth momentum and the next bear market leg is about to strike! Last Friday the Commerce Department reported that our GDP grew at an annual rate of 2.4 percent in the second quarter. That’s down from 3.7 percent in the first quarter and 5 percent in the fourth quarter of 2009. What’s more, two of the GDP’s contributors are out of steam, and won’t have much to add to future … [visit site to read more]

SurModics Falls Short Posted: 04 Aug 2010 03:35 PM PDT SurModics Inc.’s (NASDAQ:SRDX) third-quarter fiscal 2010 earnings (excluding special items) of 11 cents per share fell short of the Zacks Consensus Estimate by 3 cents and the year-ago earnings by 9 cents. On a reported basis (including special items), the company suffered a loss of 5 cents per share in the reported quarter. Revenues of $18.6 million were up 1% from the year-ago period and also sequentially. The Zacks Consensus Revenue Estimate was $19 million. The company operates through the … [visit site to read more]

Silgan Beats EPS, Misses Sales Posted: 04 Aug 2010 03:20 PM PDT Silgan Holdings Inc. (NASDAQ:SLGN) delivered adjusted earnings per share (EPS) of 48 cents in its second quarter ended June 30, 2010, outperforming the Zacks Consensus Estimate of 44 cents and increasing 4% from 46 cents in the year-ago quarter. The year-over-year improvement reflected higher average selling prices in the Plastic Container segment, as well as higher unit volumes in the Plastic Container and Closures segments. The reported EPS in the quarter includes a rationalization charge of 1 … [visit site to read more]

Frontier Beats, Reaffirms Outlook Posted: 04 Aug 2010 03:00 PM PDT Frontier Communications (NYSE:FTR) reported second-quarter adjusted earnings per share of 19 cents, which was ahead of the Zacks Consensus Estimate of 15 cents. The result also represents an improvement from 9 cents in the year-ago quarter. Frontier incurred acquisition and integration costs of $23.1 million or 8 cents per share (after tax) related to its acquisition of Verizon Communications’ (NYSE:VZ) regional wireline operations. Net income, including the acquisition cost, plunged 25.8% year over … [visit site to read more]

CenterPoint Falls Below Estimates Posted: 04 Aug 2010 02:50 PM PDT Energy delivery company CenterPoint Energy Inc. (NYSE:CNP) posted earnings of 20 cents per share for the second quarter of 2010, 2 cents lower than the Zacks Consensus Estimate but 4 cents higher than the year-ago quarterly earnings. However, after adjusting for one-time items, earnings per share on a GAAP basis also came in at 20 cents. One time mark-to-market losses from marketable securities (4 cents) and losses from natural gas derivative contracts (1 cent) were reversed by gains from indexed … [visit site to read more]

Quanta Services Meets Posted: 04 Aug 2010 02:35 PM PDT Quanta Services Inc. (NYSE:PWR) reported 2010 second quarter earnings from continuing operations of 18 cents per share, matching the Zacks Consensus Estimate. Revenues for the quarter came in at $870.5 million, below the Zacks Consensus revenue estimate of $936 million. Quanta completed the acquisition of Price Gregory Services Inc. on Oct 1, 2009. Therefore, these reported results of operations include the results of Price Gregory. During the second quarter, the company had a loss on … [visit site to read more]

Changes In Consumer Spending Boost Appeal In Technology Posted: 04 Aug 2010 02:17 PM PDT Despite an uptick in personal savings rates and lackluster results on overall consumer spending, electronics are causing consumers to reopen their wallets, further boosting the appeal of the technology sector. According to a report released by the Commerce Department, outlays of televisions, computers, video and telephone equipment grew by 1.8% in the first six months of 2010, compared to the first half of pre-recession 2007.  In comparison, during the same time periods, sales of … [visit site to read more]

ETFs For Currency Debasement Posted: 04 Aug 2010 02:17 PM PDT As the crisis in Europe continues to take its toll on the markets and bank borrowing costs rise, a nation's debt and currency debasement should me of much concern.  Most recently, a study indicated that the U.S. national debt has ballooned nearly 12 fold over the last 30 years.  Additionally, over this same time span the ratio of debt to GDP has gone from nearly one-third to 85%.  During this time of exploded debt, GDP has only expanded 5.3 times, indicating that debt is … [visit site to read more]

Earnings Scorecard: MWIV Posted: 04 Aug 2010 02:15 PM PDT The announcement of MWI Veterinary Supply’s (NASDAQ:MWIV) third quarter fiscal 2010 results on July 29, 2010, has triggered positive revision of estimates among analysts. Third Quarter Highlights MWI Veterinary Supply, one of the leading distributors of animal health products to veterinarians across the US, reported an EPS of 74 cents in the third quarter of 2010, up 37% from 54 cents in the year-ago period. The Zacks Consensus Estimate for the quarter was 59 cents. The company reported $347.7 … [visit site to read more]

DNDN’s Loss Up On Higher Costs Posted: 04 Aug 2010 02:05 PM PDT Dendreon Corp.'s (NASDAQ:DNDN) second quarter 2010 loss of 49 cents per share (excluding charges for warrant revaluation) was narrower than the Zacks Consensus Estimate of a net loss of 50 cents per share but wider than the year-ago loss of 20 cents per share. On a reported basis (including special items), the company lost $1.04 per share in the second quarter as against $1.20 in the year-ago quarter. The wider loss was attributable to higher operating expenses as the company is working on … [visit site to read more]

Donnelley’s Second Quarter Beat Posted: 04 Aug 2010 02:05 PM PDT A leading provider of integrated communications and printing solutions, R.R. Donnelley & Sons Co. (NYSE:RRD) reported second quarter 2010 results that beat the Zacks Consensus Estimate by 11 cents. Revenues were slightly above the Zacks Consensus Estimate of $2.4 billion. Operating Performance The company reported non-GAAP net income of $99.5 million, or 47 cents per share in the second quarter of 2010. This surpassed the reported net income of $76.3 million or 37 cents per share in the … [visit site to read more]

EMS Beats, Lifts Guidance Posted: 04 Aug 2010 01:50 PM PDT Emergency Medical Services Corp. (NYSE:EMS) reported an EPS of 54 cents in the second quarter of fiscal 2010, down 19.4% from 67 cents in the year-ago period. However, during the quarter the company recorded charges related to early debt retirement ($19 million) and a settlement of investigation ($3.1 million). Excluding these charges, EPS came in at 84 cents, surpassing the Zacks Consensus Estimate of 77 cents. The primary reason for the improvement in EPS was a 50% decline in interest … [visit site to read more]

XL Group Beats Estimates Posted: 04 Aug 2010 01:50 PM PDT XL Group (NYSE:XL) reported its second-quarter 2010 operating income of 71 cents per share, beating the Zacks Consensus Estimate of 64 cents. Results were below second-quarter 2009 operating earnings of 85 cents. Operating income was $242.6 million, compared with $291.4 million in the prior-year quarter. The year-over-year decline was due to lower net investment income as well as a previously announced charge to fully extinguish and terminate all of the guarantees issued to European Investment … [visit site to read more]

A Broken Link Posted: 04 Aug 2010 01:48 PM PDT Although many U.S. residential property owners once viewed their homes as ATMs, it’s apparent that attitudes have changed. In fact, as the following chart suggests, the link between retail spending and mortgage refinancing activity appears to be broken. One likely explanation for the shift is that refis nowadays are primarily geared towards reducing monthly mortgage payments and outstanding debt, not at having more spending power available. No doubt still-dysfunctional lending markets, … [visit site to read more]

Spectra Misses In Q2 Posted: 04 Aug 2010 01:30 PM PDT Spectra Energy Corp. (NYSE:SE) reported second-quarter earnings of 27 cents per share, below the Zacks Consensus Estimate of 29 cents, but ahead of the year-earlier profit of 22 cents. The year-over-year result benefited from Spectra's fee-based businesses, improved commodity prices at its Field Services business, and a stronger Canadian dollar. The company's operating revenues were $1,063 million, slightly below the Zacks Consensus of $1,069 million but surpassed the year-ago period level … [visit site to read more]

Impella Trims Abiomed Loss Posted: 04 Aug 2010 01:30 PM PDT Abiomed (NASDAQ:ABMD) reported first-quarter fiscal 2011 adjusted (excluding one-time items) net loss per share of 10 cents, better than the Zacks Consensus Estimate of a loss of 14 cents and the year-ago loss of 16 cents. Net loss (as reported) trimmed 23% year-over-year to $6 million (or 16 cents a share) as revenues were boosted by a record utilization of the company's Impella cardiac assist device systems. Revenues & Margins Revenues soared 11% year-over-year to $22 million, led by … [visit site to read more]

Health Net Outshines Estimate Posted: 04 Aug 2010 01:15 PM PDT Health Net Inc. (NYSE:HNT) reported second quarter earnings per share (EPS) of 45 cents compared to earnings of 38 cents in the first quarter of 2009. The reported quarter included $24.9 million in charges arising from cost cuts and other expenses, partially offset by a net benefit of $3.2 million arising from various business operations. Excluding these items, the company's operating EPS came in at 61 cents, modestly surpassing the Zacks Consensus Estimate of 55 cents. Health Net … [visit site to read more]

Titanium’s Profit More Than Doubles Posted: 04 Aug 2010 01:15 PM PDT Net earnings of Titanium Metals Corporation (NYSE:TIE) more than doubled to $19 million or 11 cents per share in the second quarter of 2010 from last year's $8.6 million or 5 cents. The robust growth in earnings came from lower raw materials costs, principally titanium sponge and scrap. Results exceeded the Zacks Consensus Estimate by a penny.  Lower costs led to a 71% increase in operating income to $26.7 million. Margins came in at a higher rate of 40.8% versus 31.6% in the … [visit site to read more]

AXIS Capital Lags Expectations Posted: 04 Aug 2010 01:15 PM PDT AXIS Capital Holdings Ltd. (NYSE:AXS) reported operating income of $1.33 per share, lagging the Zacks Consensus Estimate of $1.80. However, results compare favorably with operating income of $1.22 in the prior-year period. Operating income was $180.1 million in the quarter compared with $182.6 million in second-quarter 2009. Including net realized investment gains of $24.7 million or 18 cents per share, the company reported net income of $204.9 million or $1.51, compared with $159.2 million or … [visit site to read more]

Cameron Tops, Overcomes GoM Crisis Posted: 04 Aug 2010 01:15 PM PDT Oil drilling equipment maker Cameron International Corp. (NYSE:CAM) reported second quarter earnings per share (excluding special items) of 58 cents, surpassing the Zacks Consensus Estimate of 55 cents. The better-than-expected results were mainly driven by solid performance in the execution of project-related business. However, revenue of $1.45 billion fell slightly short of our expectations of $1.47 billion. Cameron's earnings outperformance is more impressive in the wake of its role in the … [visit site to read more]

US Growth Potential Is Offset By Chinese Stress Test Fears And Inventory Numbers To Freeze Oil Prices Posted: 04 Aug 2010 01:15 PM PDT North American Commodity Update Commodities - Energy US Growth Potential is Offset by Chinese Stress Test Fears and Inventory Numbers to Freeze Oil Prices Crude Oil (LS NYMEX) - $82.42 // -$0.13 // -0.16% Energy traders were not lacking for fundamental fodder upon which they could determine their positioning and conviction. However, as it would happen, there were two diametrically opposing brands of event risk that would lead the commodity to trade relatively unchanged for the day. In fact, the … [visit site to read more]

Pour Some Sugar On Your Portfolio Posted: 04 Aug 2010 01:06 PM PDT Last year, sugar prices rose more than they had in 35 years. Brazil, the world's largest producer, experienced damaging rain at just the wrong time. And dry weather hurt crops in India, which ranks number two in sugar production. Yet somehow, sugar performed abysmally during the first half of 2010. Now though, the bull market looks ready to take off again, up 35% from its May low of $0.13 a pound. And investors look set to pocket even further sweet gains in the months ahead. Buyers are once … [visit site to read more]

CBS Beats Zacks Consensus Posted: 04 Aug 2010 01:00 PM PDT CBS Corp. (NYSE:CBS), a diversified media conglomerate, recently posted second-quarter 2010 results that topped the Zacks' expectation and portrayed a substantial improvement from the year-ago quarter on the heels of a better operating environment and cost-containment efforts, thereby joining other media companies, which are gradually emerging from the downturn. The company's quarterly earnings of 25 cents a share beat the Zacks Consensus Estimate of 21 cents and witnessed a significant … [visit site to read more]

Devon Gains On Hydrocarbon Prices Posted: 04 Aug 2010 01:00 PM PDT Devon Energy Corporation (NYSE:DVN) posted better-than-expected results for the second quarter of 2010 driven by increased hydrocarbon realizations. The company’s adjusted EPS for the quarter was $1.53, above the Zacks Consensus Estimate of $1.40. Operating Results Quarterly revenues of $2.2 billion fell below the Zacks Consensus Estimate of $2.3 billion, while it rose 23% from prior year revenues. The strong year-over-year performance in the quarter was aided by higher realizations for … [visit site to read more]

ICE Profits Jump, Beats Ests Posted: 04 Aug 2010 01:00 PM PDT IntercontinentalExchange Inc.'s (NYSE:ICE) second quarter adjusted net income of $113.0 million or $1.51 per share came in way ahead of net income of $83.4 million or $1.13 per share in the year-ago period. This also surpassed the Zacks Consensus Estimate of $1.41 per share. After including $11.4 million in Climate Exchange acquisition costs in the reported quarter, net income attributable to shareholders was $101.7 million or $1.36 per share, compared with $72.1 million or 97 cents per … [visit site to read more]

El Paso Beats By A Penny Posted: 04 Aug 2010 01:00 PM PDT El Paso Corporation (NYSE:EP) announced its second-quarter 2010 operating earnings of 22 cents per share, which beat the Zacks Consensus Estimate by a penny. The results of the company were lower than year-ago earnings of 25 cents per share. GAAP earnings in the quarter were 21 cents versus 11 cents in the second quarter of 2009. The difference between the GAAP earnings of 21 cents and operating earnings of 22 cents during the reported quarter was due to the impact of a few one-time items: a … [visit site to read more]

Whole Foods Tops, Pares Forecast Posted: 04 Aug 2010 12:50 PM PDT Whole Foods Market Inc. (NASDAQ:WFMI), one of the leading natural and organic foods supermarkets, recently posted better-than-expected third-quarter 2010 results on the back of strong sales as shoppers flocked to the grocery chain. Quarterly Discussion Whole Foods’ quarterly earnings of 38 cents per share jumped from 25 cents posted in the prior-year quarter, but matched the Zacks Consensus Estimate. Whole Foods sustained its top-line growth momentum with revenues climbing 15.2% year-on-year to … [visit site to read more]

Allegheny Tops Zacks View Posted: 04 Aug 2010 12:50 PM PDT Allegheny Energy (NYSE:AYE) beat the Zacks Consensus Estimate of 38 cents with adjusted earnings per share (EPS) of 57 cents in the second quarter of 2010. Adjusted EPS was also greater than the year-ago quarterly number of 41 cents. On a reported basis the company reported EPS of 71 cents, way ahead of the year-ago number of 43 cents. Operating Statistics Allegheny Energy’s operating revenues rose 16.1% year over year to $945.7 million in the reported quarter, soundly beating the Zacks Consensus … [visit site to read more]

Vertex Loss Narrows, Reaffirms Guidance Posted: 04 Aug 2010 12:50 PM PDT Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) posted a second-quarter loss (including stock-based compensation expense) of 83 cents per share, in-line with the Zacks Consensus Estimate and narrower than the year-ago loss of 92 cents. Despite an increase in expenses, higher revenues helped Vertex Pharma lower its loss from the year-ago period. Quarter in Detail Quarterly revenues amounted to $31.6 million, beating the Zacks Consensus Estimate of $28 million and about 65% higher than the year-ago figure … [visit site to read more]

Pitney Bowes Falls Short Posted: 04 Aug 2010 12:35 PM PDT Pitney Bowes Inc (NYSE:PBI) reported earnings per share from continuing operations of 48 cents in the second quarter of 2010 missing the Zacks Consensus Estimate of 57 cents. Revenues for the quarter came in at $1.3 billion, a decline of 6% year over year. U.S. revenues declined by 7% compared with the prior year; and non-U.S. revenue decreased by 3%, and was little impacted from currency in the quarter. Non-U.S. operations represented 29% of total revenues. Segment Results Small and Medium … [visit site to read more]

ONEOK Beats, Reaffirms Guidance Posted: 04 Aug 2010 12:35 PM PDT ONEOK Inc. (NYSE:OKE) reported second-quarter profit of 39 cents per share, in line with the results of the year-ago quarter and above the Zacks Consensus Estimate of 33 cents. The better-than-expected results are attributed to strong performance across all segments, barring Energy Services.   Operating Statistics   Net revenues in the quarter rose 26% to $2.8 billion, falling behind the Zacks Consensus Estimate of $3.9 billion. Operating income increased 15.4% to $178.7 million … [visit site to read more]

The Enthusiasm Gap And You Posted: 04 Aug 2010 12:31 PM PDT A friend whom I'll call David raised a ton of money for Democrats in 2008 and now tells me they can go to hell. He's furious about the no-strings bailout of Wall Street, the absence of a public option in health reform, financial reform that doesn't cap the size of banks or reinstate the Glass-Steagall wall between investment and commercial banking, and a stimulus that was too small to do much good but big enough to give Republicans a campaign issue. He's also upset about tens of … [visit site to read more]

WRB Ramps Buyback, Declares Div Posted: 04 Aug 2010 12:20 PM PDT Property and casualty insurer W.R. Berkley Corp. (NYSE:WRB) yesterday announced an increase in repurchase authorization to 10 million shares. The increased authorization represents nearly 7% of the company's 151.2 million outstanding shares as of June 30, 2010.   Berkley has been aggressively repurchasing shares. Since 2006, the company has bought back 47.1 million shares at an average price of $27.33 for a total cost of $1.3 billion. During the second quarter of 2010, 5.1 million shares … [visit site to read more]

Mixed Results For Manitowoc Posted: 04 Aug 2010 12:20 PM PDT Manitowoc Co. Inc. (NYSE:MTW) delivered adjusted EPS of 12 cents in its second quarter ended June 30, 2010, outperforming the Zacks Consensus Estimate by 5 cents but plunging 48% from 23 cents reported in the year-ago quarter. Strong results in the Foodservice segment were offset by lackluster performance at the Crane segment.   The reported and year-ago quarters' EPS exclude restructuring expenses of 1 cent and 11 cents, respectively. The year-ago quarter's EPS excluded the loss from … [visit site to read more]

American Medical Beats By A Whisker Posted: 04 Aug 2010 12:00 PM PDT Leading pelvic-health device provider American Medical Systems (NASDAQ:AMMD) reported second-quarter fiscal 2010 adjusted (excluding amortization charges) earnings per share of 31 cents, beating the Zacks Consensus Estimate by a penny while leaping ahead of the year-ago earnings of 29 cents. The results dovetail with the company's expectation of 29 to 31 cents. Net income shot up 22% year over year to $20.6 million (or 26 cents a share), pushed by higher sales. … [visit site to read more]

The Pros And Cons Of Mining In West Africa Posted: 04 Aug 2010 11:33 AM PDT Western Africa seems like the place to be for large mining and steel businesses, such as: Vale ADR (VALE) Rio Tinto ADR (NYSE:RTP) BHP Billiton ADR (NYSE:BHP) ArcelorMittal ADR (NYSE:MT) Aluminum Corp of China or Chinalco ADR (NYSE:ACH) Russian steel company, Severstal These six companies plan to spend billions of dollars in Guinea, Liberia and Sierra Leone – where some of the world's richest deposits of iron ore and bauxite have been found. Yet despite the promises of profits the area holds, those … [visit site to read more]

Forex Trading: USDCHF Surges Higher Today Turning Intermediate Trend Bullish Posted: 04 Aug 2010 11:21 AM PDT … [visit site to read more]

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