Daily Markets - The U.S. Stock Market Has Become Fatally Expensive |
- The U.S. Stock Market Has Become Fatally Expensive
- Amazon Loses Digital Rights
- ABB Starts New Factory In India
- Kirkland’s Misses Consensus
- General Dynamics Wins Contract
- Cameron Stays At Neutral
- Kevin Dillon Vs JP Morgan: David Vs Goliath
- Forex Trading: USDJPY Moves Toward Key Resistance At 84.80
- Initiating CGNH At Outperform
- Emerson: Statoil’s Chosen Supplier
- Forex Trading: GBP/USD Falls To One-Month Low
- AUD/USD: Things Still Look Bearish
- American Eagle Surges On Earnings
- Gerdau’s Full Stake In Ameristeel
- DISH Launches TV Everywhere Portal
- U.S. Dollar Threatened By Fannie & Freddie
- Enbridge’s $550M Bakken Plan
- Worst New Home Sales EVER!
- 3G Femtocell Market Gathers Steam
- Durable Goods Report: Dismal
- Digital Realty Trust Expands
- AT&T Sells Centennial Assets
- Parker Acquires Micro Thermo Tech
- Smith Shareholders Clear Merger
- Australian Dollar: Continuation Of The Rebound
- Canadian Dollar: Bullish Bias Above 1035
- RIMM Acquires Cellmania
- ETP Public Offering Raises $505M
- WPPGY’s Interim Results
| The U.S. Stock Market Has Become Fatally Expensive Posted: 25 Aug 2010 11:45 AM PDT As I said in last week’s column, liquidity indicators and leading economic indicators have deteriorated quickly since March. At the same time sentiment indicators reached levels usually seen at stock market highs. All three are the main components of my forecasting model. Now my model is presenting an even clearer message that the next recession and a bear market are in the offing. And we should expect a test of the March 2009 lows. Moreover, I have massive doubts that these lows … [visit site to read more]
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| Posted: 25 Aug 2010 11:35 AM PDT A feud over e-book rights to some classic works that put literary agent Andrew Wylie and publisher Random House on the warring path appears to have been settled. Andrew Wylie-led Wylie Agency announced that it has abandoned the decision to award exclusive rights to publish 13 classics in electronic format to Amazon.com (NASDAQ:AMZN), a month after the agency infuriated the book industry by awarding the digital rights to the literary works to the company. Random House, which owns the publishing … [visit site to read more]
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| ABB Starts New Factory In India Posted: 25 Aug 2010 11:35 AM PDT Recently ABB Ltd. (NYSE:ABB) inaugurated a wind power generator factory in Vadodara, India. This is the company's fourth wind power factory in India, engaged in the supply of wind power generators to power plants in India as well as worldwide. The wind power generators are vital part of wind turbines.
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| Posted: 25 Aug 2010 11:05 AM PDT Kirkland's Inc. (NASDAQ:KIRK) reported second-quarter 2010 earnings of 16 cents, which missed the Zacks Consensus Estimate of 18 cents. Earnings were up 14.3% year over year. Quarterly net sales grew 2.1% to $89.5 million as against $87.7 million posted in the year-ago quarter. Consolidated comparable store sales rose 1.0% for the quarter compared with an increase of 6.1% in the prior-year quarter. On a year-ago basis, quarterly operating income surged 6.1% to $5,064 million. Kirkland's exited … [visit site to read more]
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| General Dynamics Wins Contract Posted: 25 Aug 2010 11:05 AM PDT General Dynamics' (NYSE:GD) business unit, General Dynamics Information Technology, was awarded a $61.8 million task order to support the U.S. Army Intelligence and Security Command (INSCOM). Under the four-year contract, General Dynamics' will provide uninterrupted information technology (IT) operations and maintenance support that INSCOM and its subordinate units require for creating and sharing globally critical intelligence products.
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| Posted: 25 Aug 2010 11:05 AM PDT We have retained our Neutral recommendation for Cameron International Corporation (NYSE:CAM) following its second quarter 2010 earnings release. Our decision reflects strong revenues and margins in most of the business segments, partially offset by volatility in the current environment.
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| Kevin Dillon Vs JP Morgan: David Vs Goliath Posted: 25 Aug 2010 10:54 AM PDT If image is everything, then how is it that perhaps the most revered global banking institution in the world today allows itself to get enmeshed in an ugly legal complaint with a junior level professional.
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| Forex Trading: USDJPY Moves Toward Key Resistance At 84.80 Posted: 25 Aug 2010 10:51 AM PDT |
| Posted: 25 Aug 2010 10:35 AM PDT e believe the QL Care Analyzer, which incorporates the sensitivity of lab analyzers with the speed and ease of use of POC (”point of contact”) machines, will be well received in the professional POC IVD testing market. Led by an acclaimed cardiologist with two decades of experience in developing and gaining FDA approval of several cardiac marker tests, CardioGenics Holdings' (CGNH) initial tests will target their area of expertise — cardiac markers. Cardiac markers are also the fastest … [visit site to read more]
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| Emerson: Statoil’s Chosen Supplier Posted: 25 Aug 2010 10:35 AM PDT Emerson Process Management, a division of Emerson Electric Company (NYSE:EMR), has been selected by Norway-based Statoil ASA (NYSE:STO) as a preferred supplier of automation and safety systems. This enables Emerson to bid on all future projects in that product area.
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| Forex Trading: GBP/USD Falls To One-Month Low Posted: 25 Aug 2010 10:30 AM PDT Price action on GBP/USD (a daily chart of which is shown) as of Wednesday (8/25/2010) has hesitated after approaching key 1.5350 region support on the heels of almost three weeks of bearish price action that broke down below a key uptrend support line and just established a new one-month low for the pair. This strong support area coincides approximately with a 38.2% Fibonacci retracement level of the bullish trend run from the long-term low just above 1.42 to the high near 1.60. … [visit site to read more]
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| AUD/USD: Things Still Look Bearish Posted: 25 Aug 2010 10:13 AM PDT It’s a bad day for the Aussie bulls since it seems that the bears have just taken over the trading driver seat. As you can see from the AUDUSD’s 4-hour chart, the pair appears to have broken down from a head and shoulders pattern. Remember that the Australian dollar had risen to as much as 0.9200 over the greenback early this month after touching a low of just above 0.8100 in June. though, by the looks of it, it’s luck has already turned. Yesterday’s movement pushed the prices below … [visit site to read more]
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| American Eagle Surges On Earnings Posted: 25 Aug 2010 10:05 AM PDT American Eagle Outfitters Inc.'s (NYSE:AEO) fiscal 2010 second-quarter adjusted earnings slipped to 13 cents per share from the year-ago earnings of 18 cents, but edged past the Zacks Consensus Estimate of 12 cents. The adjusted quarterly earnings excluded a loss of 8 cents per share on American Eagle's underperforming Martin+Osa chain. The company completed the closure of 28 stores and the online business of Martin+Osa in the second quarter. During the quarter, American Eagle's net sales … [visit site to read more]
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| Gerdau’s Full Stake In Ameristeel Posted: 25 Aug 2010 10:05 AM PDT Brazilian steel producer Gerdau S.A. (NYSE:GGB) received shareholders' approval to acquire the remaining 33.7% stake in Gerdau Ameristeel Corporation (NYSE:GNA). A special resolution approving the US$1.6 billion cash transaction was passed. Pursuant to this approval, the transaction is expected to be completed this month, subject to the receipt of court approval and the satisfaction of other customary conditions.
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| DISH Launches TV Everywhere Portal Posted: 25 Aug 2010 10:05 AM PDT DISH Network Corp. (NASDAQ:DISH) recently launched its TV Everywhere portal named as "DISHOnline.com". TV Everywhere is a suite of integrated products designed to maximize the convenience and ease of watching TV anytime and anywhere. The customers of DISH Network need to make a one-time payment for the content and then can remain connected to this service. DISHOnline.com will enable DISH Network subscribers to access all their live TV and recorded programming on a laptop, mobile device, or … [visit site to read more]
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| U.S. Dollar Threatened By Fannie & Freddie Posted: 25 Aug 2010 10:01 AM PDT Social subsidies may make good politics, but all too often bad economics. When Fannie Mae was created in 1938, the seeds were planted for the biggest housing bust the world has ever seen; the going was good while the party lasted for the first 80 years, but ended in the financial crisis of 2008 - the hangover for many still remains. In 2008, many feared the dollar might collapse should Fannie Mae and its smaller cousin Freddie Mac (together here Government Sponsored Entities or GSEs) … [visit site to read more]
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| Posted: 25 Aug 2010 09:40 AM PDT Two Enbridge Inc. (NYSE:ENB) affiliates − Enbridge Energy Partners L.P. (NYSE:EEP) and Enbridge Income Fund − have launched a joint project to expand crude pipeline capacity in the Bakken and Three Forks formations in Montana, North Dakota, Manitoba and Saskatchewan. The project mainly aims to accommodate the rapidly growing production in the region.
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| Posted: 25 Aug 2010 09:35 AM PDT New Home Sales fell by 12.4% in July to a seasonally adjusted annual rate of just 276,000. That is a new record low for the data that stretches all the way back to the early 1960's. The previous record low had been set in May at 281,000. Relative to a year ago, sales are down 32.4% from a 408,000 annual pace. And a year ago was not exactly the best of time for the nation's homebuilders. The peak of new home sales during the housing bubble was a 1.389 annual rate set in July 2005, so we are … [visit site to read more]
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| 3G Femtocell Market Gathers Steam Posted: 25 Aug 2010 09:35 AM PDT Femtocell is quickly emerging as a fundamental technology enabler in the deployment of high-speed 3G as well as emerging next-generation (4G) wireless network infrastructure. A femtocell is a small cellular base station, typically designed for use in a residential or small business environment. This access point communicates to the wireless service providers' network through a broadband connection.
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| Posted: 25 Aug 2010 09:05 AM PDT New Orders for Durable Goods rose just 0.3% in July. That was far below the consensus expectations for an increase of 3.0% (oh, what a difference a silly little decimal point can make!). The news is worse than even that headline number suggests. All of the strength came from the extremely volatile Transportation Equipment side, and more specifically, from the Non-Defense Aircraft component. That is mostly orders for big 777s and 747s from Boeing (NYSE:BA), which are very expensive items. It also … [visit site to read more]
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| Posted: 25 Aug 2010 09:05 AM PDT Digital Realty Trust Inc. (NYSE:DLR), a niche real estate investment trust (REIT), has recently expanded its portfolio by acquiring two fully-leased datacenter facilities for $50.3 million. With the acquisition, the company has strengthened its footprint in two top-tier datacenter markets, forging ties with high-quality tenants at attractive yields.
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| Posted: 25 Aug 2010 09:05 AM PDT AT&T Inc. (NYSE:T), the largest U.S. telecom carrier, completed the sale of certain wireless assets of Centennial Communications Corp. to Verizon Wireless, the domestic wireless segment of Verizon Communication (NYSE:VZ). The deal was part of AT&T's acquisition of Centennial Communications in 2009.
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| Parker Acquires Micro Thermo Tech Posted: 25 Aug 2010 09:05 AM PDT Parker Hannifin Corporation (NYSE:PH) has acquired Micro Thermo Technologies of Canada, a company specializing in refrigerant controls and energy optimization systems. The target company, with annual sales of $10 million, will be merged into the Electronics business unit of Parker. The acquisition will enhance the net income of Parker within the first twelve months.
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| Smith Shareholders Clear Merger Posted: 25 Aug 2010 08:35 AM PDT Shareholders of Smith International Inc. (NYSE:SII) voted in favor of the proposed merger between the company and Schlumberger Limited (NYSE:SLB). The merger is expected to close on August 27. Until then, both the companies will continue to operate independently.
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| Australian Dollar: Continuation Of The Rebound Posted: 25 Aug 2010 08:18 AM PDT |
| Canadian Dollar: Bullish Bias Above 1035 Posted: 25 Aug 2010 08:17 AM PDT |
| Posted: 25 Aug 2010 08:05 AM PDT Amid all the speculation regarding blackberry ban in India and competitive threats from Apple Inc.'s (NASDAQ:AAPL) iPhone, Research In Motion Limited (NASDAQ:RIMM) acquired Cellmania, a California based company, which makes software used to run mobile phone software stores.
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| ETP Public Offering Raises $505M Posted: 25 Aug 2010 08:05 AM PDT Energy Transfer Partners L.P. (NYSE:ETP) – a natural gas and propane gas master limited partnership (MLP) – announced the closure of its previously announced public offering. The partnership priced the public offering of 10.925 million common units (representing limited partner interests) at $46.22 apiece, with an over-allotment option for an additional 1.425 million units, and raised approximately $505 million.
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| Posted: 25 Aug 2010 08:05 AM PDT Ireland-based advertising titan WPP Group plc. (NASDAQ:WPPGY) on August 24 reported interim results for the first half of 2010. Diluted pro forma earnings per share in the reported period were ₤0.191 ($1.46 per ADR), up 48.1% (36.8% in constant currency) from ₤0.129 ($0.96 per ADR) in the year-ago period.
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