Daily Markets - Stock Picks For Wednesday 18 August: Dendreon, Pacific Ethanol, Generex Biotechnology

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• Stock Picks For Wednesday 18 August: Dendreon, Pacific Ethanol, Generex Biotechnology
• Less Than Meets The Eye
• Speculative Interests May Have Shifted But Gold And Oil Are Little Changed
• Microsoft & IBM: Potential Suitors For HP
• TJX Meets, Lifts Outlook
• Chevron Strikes Again In Australia
• Lockheed Martin Wins $113M In Contracts
• Devon Realigning Production Assets
• NCR Corp. Signs Barclays Deal
• Janus Capital Reiterated At Neutral
• Earnings Scorecard: Advance Auto Parts
• Celgene Evenly Poised
• Cardinal And Cumberland Ink Deal
• Gold Continues To Shine
• Earnings Scorecard: Red Robin
• Torchmark Corp. Boosts Dividend
• Ardea Remains Neutral
• Real Compensation Increase From 2000 To 2009: Miltary (84%) Vs. Federal (37%) Vs. Private (9%)
• Deflation Diverted Or Delayed?
• Upgrading Tower To Neutral
• Why Growth Is Good
• Panasonic Expands VIERA Series
• Hasbro Stays Neutral
• St. Jude Recalls Introducer Device
• L-3 Communications Wins Contracts
• ND’s Record-Setting Oil Production Fuels Economic Boom With Record Employment, 3.6% Jobless Rate

Stock Picks For Wednesday 18 August: Dendreon, Pacific Ethanol, Generex Biotechnology Posted: 17 Aug 2010 06:15 PM PDT ( click to enlarge ) Dendreon Corporation (NASDAQ:DNDN) - The stock continued its bullish momentum today, gaining more than 1% to $37.76 with 2 million shares traded. Looking at the technical chart above we can see price break above the trend line resistance indicating potential bullishness targeting $40 in nearest term. The immediate support is now at $37.21. Only a break below that area could trigger further bearish pressure, testing the minor trendline support at $35.96 area but as … [visit site to read more]

Less Than Meets The Eye Posted: 17 Aug 2010 05:41 PM PDT In my latest effort for DailyFinance, “Latest Fed Data: A Worrisome Case of Deja-vu?,” I discuss the large disparity between two related statistical series, industrial production and capacity utilization, and what it might mean for the economy going forward. Needless to say, I believe there’s less to today’s ostensibly positive data than meets the eye. Click here to read the … [visit site to read more]

Speculative Interests May Have Shifted But Gold And Oil Are Little Changed Posted: 17 Aug 2010 05:11 PM PDT North American Commodity Update Commodities - Energy Energy Traders Little Encouraged by Event Risk, Follow Technicals to an Oil Bounce Crude Oil (LS Nymex) - $75.44 // $0.53 // 0.70% As fundamental traders, it is still important to keep a close eye on technical patterns. During periods that speculative drive has leveled out or fundamental matters are exceptionally light, the self-fulfilling quality of these price patterns can often have an outsized influence on price action. This is the … [visit site to read more]

Microsoft & IBM: Potential Suitors For HP Posted: 17 Aug 2010 04:58 PM PDT The longer HP languishes at the $41 a share level, the more likely they become a takeover target. Well, the fact that HP currently doesn`t have a CEO, and the fact that they are dirt cheap with regards to stock price to book value makes them vulnerable. After all, when HP is trading at $55 a share, and any takeover requires a hefty premium of at least 20% to actually get a non-hostile bid to be accepted by the board and shareholders, this becomes a huge roadblock to a M&A deal being … [visit site to read more]

TJX Meets, Lifts Outlook Posted: 17 Aug 2010 04:35 PM PDT The TJX Companies Inc.’s (NYSE:TJX) fiscal second-quarter GAAP earnings grew 16.6% to $305 million from $262 million in the year-ago period. Excluding special items, adjusted earnings came in at 73 cents per share, matching the Zacks Consensus Estimate, but well ahead of 61 cents posted in the year-ago quarter. Buoyed by the quarterly results, TJX lifted its adjusted earnings guidance for fiscal 2011 to a range of $3.27 to $3.37 per share from the earlier outlook of $3.24 to $3.33. The revised … [visit site to read more]

Chevron Strikes Again In Australia Posted: 17 Aug 2010 04:05 PM PDT Integrated oil and gas giant Chevron Corp. (NYSE:CVX) once again made a successful discovery of natural gas through the Acme-1 exploration well in the hydrocarbon-rich area of the Carnarvon Basin. This happens to be Chevron;s ninth and largest offshore discovery in Western Australia in the last 12 months. The Acme-1 well was drilled to a depth of 15,469 feet of water and encountered gas deposits of approximately 896 feet. The find is located in the WA-205-P permit area in the offshore region of … [visit site to read more]

Lockheed Martin Wins $113M In Contracts Posted: 17 Aug 2010 04:05 PM PDT Lockheed Martin Corporation (NYSE:LMT) received three contracts from the U.S. Air Force relating to logistics and research, the combined value of which is $113 million. Lockheed’s Space System division won two contracts. The first one is a $90.5 million contract modification to sustain logistics support and legacy work and the second one, worth $16 million, is for continuation of research to further improve the Advanced Extremely High Frequency Satellite. Lockheed’s missiles and fire control … [visit site to read more]

Devon Realigning Production Assets Posted: 17 Aug 2010 02:05 PM PDT Independent oil and gas company Devon Energy Corporation (NYSE:DVN) successfully completed the sale of its ACG field assets to BP Plc (NYSE:BP) for $2 billion. The company's ACG field assets, located offshore Azerbaijan in the Caspian Sea, currently produce nearly 17 thousand barrels of oil per day (MBbls/d). Devon is in the process of realigning its assets to focus more on the North American onshore market. As a part of this strategic repositioning, it is divesting all of its offshore Gulf of … [visit site to read more]

NCR Corp. Signs Barclays Deal Posted: 17 Aug 2010 02:05 PM PDT Technology and solutions provider NCR Corp. (NYSE:NCR) announced that it would be offering management and maintenance services for Barclays Bank plc's automated teller machines (ATMs). Financial details of this two-year deal were not disclosed. As per the terms of the deal, NCR Corp. will extend its services to Barclays' 550 remote and host-operated ATMs situated in the U.K. NCR Corp.'s managed services will include monitoring of the ATM network, managing the availability of cash, … [visit site to read more]

Janus Capital Reiterated At Neutral Posted: 17 Aug 2010 02:05 PM PDT We have reiterated our recommendation on Janus Capital Group Inc. (NYSE:JNS) at Neutral following the company's earnings release. Our decision is based on the company's fundamentals and the current economic scenario.   Second Quarter Performance   Janus Capital's earnings per share came in at 17 cents, outpacing the Zacks Consensus Estimate of 14 cents, primarily driven by better-than-expected revenues and a moderation in outflows. This also came in significantly higher than the … [visit site to read more]

Earnings Scorecard: Advance Auto Parts Posted: 17 Aug 2010 01:35 PM PDT Advance Auto Parts Inc. (NYSE:AAP) reported second-quarter results on August 11, beating the Zacks Consensus Estimate by 14 cents per share. The market reacted favorably, with its share price rising after the release.   Analysts were highly optimistic given the company's improved results and revised their estimates upward. Below, we will cover the results of the earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for both the short-term and the … [visit site to read more]

Celgene Evenly Poised Posted: 17 Aug 2010 01:35 PM PDT We are maintaining our Neutral recommendation on Celgene Corporation (NASDAQ:CELG) with a target price of $58. Celgene, founded in 1986 and headquartered in Summit, NJ, focuses on the discovery, development and commercialization of drugs in the areas of cancer and immune/inflammatory diseases.  The company's key growth engine is Revlimid, currently approved for myelodysplastic syndrome (MDS) and second-line multiple myeloma (MM). The company is expanding its label into other indications. The … [visit site to read more]

Cardinal And Cumberland Ink Deal Posted: 17 Aug 2010 01:35 PM PDT Cardinal Health (NYSE:CAH), one of the largest distributors of pharmaceuticals and medical supplies, has reportedly inked a distribution agreement with Nashville, Tennessee-based Cumberland Pharmaceuticals (CPIX), a specialty pharmaceutical firm focused on the acute-care hospital and gastroenterology markets. Financial terms of the deal were not divulged by the companies.  Under the three-year deal, Cardinal will exclusively distribute three of Cumberland's drugs in the U.S, Puerto Rico … [visit site to read more]

Gold Continues To Shine Posted: 17 Aug 2010 01:17 PM PDT As fear of a fragile economic recovery and the possibility of a double dip recession take front row, the appeal for gold and its exchange traded funds [[ETFs]] remains shinny.  Recently, ETF Securities USA LLC (ETFS) announced a record day's trading volume in ETFS Physical Swiss Gold Shares (SGOL) of 1.74m shares or approx $208m in dollar value traded 1.74m shares represents the largest one day volume since SGOL's inception on September 9th, 2009.   Additionally, SGOL's … [visit site to read more]

Earnings Scorecard: Red Robin Posted: 17 Aug 2010 01:05 PM PDT Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) posted lower-than-expected second quarter 2010 results on August 12, 2010, due to a sales decline in its key market. The recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for both the short-term and the long-term are covered in depth below.   Earnings Report Review   During the second quarter, Red Robin reported earnings of 28 cents per share, missing the Zacks Consensus Estimate of 37 cents … [visit site to read more]

Torchmark Corp. Boosts Dividend Posted: 17 Aug 2010 01:05 PM PDT The Board of Directors for Torchmark Corp. (NYSE:TMK) authorized a 7% increase in quarterly dividend. Torchmark will now pay a quarterly dividend of 16 cents per share, up from 15 cents per share, paid on July 30, 2010. The increased dividend will be paid on November 1, 2010 to shareholders of record as of October 2, 2010.   Torchmark has had a consistent track record of paying quarterly dividends, primarily supported by its strong balance sheet and its ability to generate healthy cash … [visit site to read more]

Ardea Remains Neutral Posted: 17 Aug 2010 01:05 PM PDT We are maintaining our Neutral recommendation on Ardea Biosciences Inc. (NASDAQ:RDEA) with a target price of $20. Ardea Biosciences, headquartered in San Diego, CA, focuses on the discovery and development of small-molecule therapeutics for the treatment of gout, human immunodeficiency virus (HIV) and cancer. Ardea recently reported disappointing second quarter 2010 results. The development stage biopharmaceutical company's second-quarter 2010 net loss of $12.8 million, or $0.57 per share … [visit site to read more]

Real Compensation Increase From 2000 To 2009: Miltary (84%) Vs. Federal (37%) Vs. Private (9%) Posted: 17 Aug 2010 12:46 PM PDT “Rapidly rising pay and benefits in the armed forces have lifted many military towns into the ranks of the nation’s most affluent communities, a USA TODAY analysis finds. The hometown of the Marines’ Camp Lejeune — Jacksonville, N.C. — soared to the nation’s 32nd-highest income per person in 2009 among the 366 U.S. metropolitan areas, according to Bureau of Economic Analysis (BEA) data. In 2000, it had ranked 287th. The Jacksonville metropolitan area, with a population of 173,064, had the … [visit site to read more]

Deflation Diverted Or Delayed? Posted: 17 Aug 2010 12:35 PM PDT In July, the Producer Price Index (PPI) increased by 0.2% from June and was up 4.2% from a year ago. That increase was in line with consensus expectations. The increase comes on the heels of three straight declines and declines in four of the last five months. In June, the headline PPI fell by 0.5% and in May it was down by 0.3%. Still the PPI was running on the hot side last winter so the year-over-year change is a relatively hot 4.2%. Stripping out the volatile food and energy components to … [visit site to read more]

Upgrading Tower To Neutral Posted: 17 Aug 2010 12:35 PM PDT We are upgrading our recommendation on Tower Group Inc. (NASDAQ:TWGP) to Neutral as we believe the company's earnings will improve during the second half of 2010, following the completion of the acquisition of OneBeacon Insurance Group's Personal Lines division. Though the current economic climate offers limited scope for organic growth, Tower is considering growing inorganically via acquisitions. To this effect, it completed five acquisitions over the past eighteen months: Hermitage, … [visit site to read more]

Why Growth Is Good Posted: 17 Aug 2010 12:33 PM PDT Economic growth is slowing in the United States. It's also slowing in Japan, France, Britain, Italy, Spain, and Canada. It's even slowing in China. And it's likely to be slowing soon in Germany. If governments keep hacking away at their budgets while consumers almost everywhere are becoming more cautious about spending, global demand will shrink to the point where a worldwide dip is inevitable. You might ask yourself: So what? Why do we need more economic growth anyway? Aren't we … [visit site to read more]

Panasonic Expands VIERA Series Posted: 17 Aug 2010 12:05 PM PDT A leading manufacturer of High Definition (HD) televisions, Panasonic Corp. (PC) recently launched a new VIERA GT25 series of full HD three dimensional (3D) Plasma televisions, expanding its premier VIERA brand. The GT25 series has 600Hz sub-field drive; 1080 pixel full HD resolution; 1080 lines of moving picture resolution; VIERA Image Viewer (for viewing of digital still images), 24 pixel cinematic playback and a new fast switching phosphors. GT25 Series can convert a two dimensional (2D) … [visit site to read more]

Hasbro Stays Neutral Posted: 17 Aug 2010 12:05 PM PDT We maintain our Neutral recommendation on toys and games maker Hasbro Inc. (NYSE:HAS). The company's second-quarter earnings were well ahead of the Zacks Consensus Estimate, primarily driven by tight cost-control initiatives, which more than offset the muted sales performance. We believe Hasbro's ability to deliver growth in both revenue and earnings per share depend upon its broad-based strength across its core brand product portfolio and strong execution globally. Its strong product line-up, … [visit site to read more]

St. Jude Recalls Introducer Device Posted: 17 Aug 2010 12:05 PM PDT The FDA issued an urgent Class I recall of several batches of 6 French (6F) Engage Introducer devices of medical devices giant St. Jude medical (NYSE:STJ). The Class I recall is the most serious type of recall as it affects products, which can be potentially hazardous or even cause death. The recall is based on the concern that the 6F Engage Introducer devices have the potential to cause fatal bleeding during their use. The FDA is apprehensive about the possibility of separation of the shaft from … [visit site to read more]

L-3 Communications Wins Contracts Posted: 17 Aug 2010 12:05 PM PDT Aerospace and defense operator L-3 Communications Holdings Inc. (NYSE:LLL) won 2 contracts of a combined value of $25 million from the U.S. Army and U.S. Navy. As per the contract with the U.S. Navy, L-3 Communications will repair items in support of the H-1 helicopter for the Naval Inventory Control Point in Philadelphia. The $7.5 million contract will be carried out in Cape Canaveral Florida with completion expected by August 2015. In the other contract, which was awarded by the U.S. Army, … [visit site to read more]

ND’s Record-Setting Oil Production Fuels Economic Boom With Record Employment, 3.6% Jobless Rate Posted: 17 Aug 2010 11:52 AM PDT Following an ongoing pattern that I have been following all year, North Dakota set more new records in June for monthly oil production (see chart above, data here). According to a report earlier this year from Bloomberg, “Drilling advances are enabling producers to tap the Bakken, where rocks lack the porosity and permeability of conventional oil fields. The Bakken contributed to last year's 7.5 percent gain in U.S. crude output, the biggest since 1955 and the first in 18 … [visit site to read more]

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