Daily Markets - U.S. Stock Market Leaning Towards Bullishness |
- U.S. Stock Market Leaning Towards Bullishness
- CIVETS - The Next Big Emerging Markets?
- Entergy Beats Zacks Consensus
- OSG Posts Mixed Q2
- AstraZeneca EPS Beats & Ups
- MannKind Q2 Loss Shrinks
- Clorox EPS Meets, Affirms Guidance
- Syniverse Sales Rise 40%, Guidance Upped
- Earnings Scorecard: Safeway
- Dean Foods EPS Tops, View Tepid
- Smith Int’l Net More Than Doubles
- Hologic Beats, Raises Guidance
- Analyst Interviews: Insurance Industry Stock Update
- Emerson Outperforms, Raises Outlook
- Marsh & McLennan Beats Estimates
- Hanger Remains “Outperform”
- Tenet Ahead Of Zacks Consensus
- Rowan Beats Zacks Estimates
- HAE Beats, Reaffirms 2010 Guidance
- Investing Uncertainties In The World Of Fat Tails
- IBM Acquires Coremetrics
- Earnings Scorecard: Ecolab
- EUR/USD Back On The Bullish Track
- Mitsubishi UFJ Buys BNP Stake
- Dow Misses Analyst Expectations
- Mobile Phone Shipments Upped
- BNY Mellon Closes BHF Acquisition
- China Manufacturing Contraction Not Enough To Cause “Double Dip” Recession
- Forex Trading: EURUSD And GBPUSD: Setting Up For A Move Lower…again?
- Mixed Bag Of IPO Stock Returns
- Forex Trading: USD/JPY Hits 8-Month Low
- Savings Rate Rising
- NiSource Beats Estimates
- David Sokol - Next CEO Of Berkshire Hathaway?
- American Tower Tops Estimates
- Geron Posts Narrower Loss
- Parker Hannifin Beats Estimates
- More From The “You Just Can’t Make This Stuff Up” File: Universities That Use Kindles Vs. The ADA
- Wright Medical Beats Estimates
- ASA Staffing Index Reaches 91-Week High In July
- HCP Marginally Beats
- Earnings Scorecard: Chipotle
- How To Write Covered Calls: Use This Strategy To Kick Your Portfolio Into Overdrive
- Australian Dollar: The Downside Prevails
- Canadian Dollar: Under Pressure
- Hot Russian Weather Stokes Wheat Rally
- Aloft To Focus On India
- The Origins Of The Enthusiasm Gap
- Forex Trading: EURUSD Rebounds In Choppy Action
- Forex Trading: EURUSD Taking The Next Bearish Step Toward Yesterday’s Close
| U.S. Stock Market Leaning Towards Bullishness Posted: 03 Aug 2010 11:51 AM PDT The market can do anything at anytime, but as we enter Tuesday’s trade the bullish evidence continues to present itself. Yesterday, the S&P 500 closed at its highest point in seventy-six calendar days. This means selling or shorting at any point in the last seventy-six calendar days is currently an underwater trade. For the first time since May 4, 2010, the intermediate-term trend for the S&P 500 appears to be up instead of down. The market is standing just outside of the … [visit site to read more]
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| CIVETS - The Next Big Emerging Markets? Posted: 03 Aug 2010 11:50 AM PDT When countries get grouped together for economic or political purposes, an acronym or other shorthand device is soon to follow. OPEC, EU and G7 are a few of the old standards, while G20, PIIGS (European nations with dangerously large sovereign debt burdens), and of course BRICs are newer examples. Now The Economist is getting into the game with “CIVETS”: Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa - six countries that could be the next wave of emerging markets … [visit site to read more]
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| Posted: 03 Aug 2010 11:50 AM PDT Entergy Corp. (NYSE:ETR) has reported strong earnings per share (EPS) of $1.71 in the second quarter of fiscal 2010, beating both the Zacks Consensus Estimate of $1.68 and the year-ago quarterly EPS of $1.23. On a reported basis, including one-time items, earnings came in at $1.65 in the reported quarter compared to $1.14 in the year-ago quarter. Operational Results Revenue in the reported quarter rose 13.6% year-over-year to $2.9 billion, soundly beating the Zacks Consensus Estimate of $2.6 … [visit site to read more]
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| Posted: 03 Aug 2010 11:35 AM PDT Overseas Shipholding Group (NYSE:OSG), a leading energy transportation company, reported mixed financial results for the second quarter 2010. Quarterly Shipping revenue was $283.9 million, up nearly 0.5% year over year. Second quarter Time Charter Equivalent (TCE) revenue was $231.7 million, down 7% year-over-year but better than the Zacks Consensus Estimate of $229 million. TCE revenue represents Shipping revenue less Voyage expenses. Quarterly net loss was $37.9 million or a loss of $1.26 per … [visit site to read more]
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| Posted: 03 Aug 2010 11:35 AM PDT AstraZeneca plc's (NYSE:AZN) second-quarter earnings came in at $1.79 per American Depositary Share (ADS), surpassing both the Zacks Consensus Estimate of $1.59 and the year-ago figure of $1.64. Lower net finance expense and a lower tax rate boosted AstraZeneca's second quarter earnings. Revenues Total revenue increased 3% year over year to $8.2 billion, about in line with the Zacks Consensus Estimate. The primary reasons for the increase in revenues were strong performance of … [visit site to read more]
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| Posted: 03 Aug 2010 11:15 AM PDT MannKind's (NASDAQ:MNKD) second quarter 2010 net loss of 37 cents per share was narrower than the Zacks Consensus Estimate loss of 40 cents per share. The company, which reported negligible revenues of $93,000 as against none in the year-ago quarter, suffered a loss of 54 cents per share in the year-ago quarter. The narrower year-over-year loss was attributable to lower expenses incurred in the reported quarter on the inhaled insulin candidate Afrezza. The candidate is being developed for … [visit site to read more]
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| Clorox EPS Meets, Affirms Guidance Posted: 03 Aug 2010 11:15 AM PDT The Clorox Co. (NYSE:CLX) posted marginal 0.6% growth in fiscal 2010 fourth-quarter earnings to $171 million from $170 million in the year-ago period. Earnings per share came in at $1.20, matching the Zacks Consensus Estimate, but lagged the year-ago earnings of $1.25 per share. Clorox's net sales during the quarter grew 1.1% year-over-year to $1.52 billion, beating the Zacks Consensus Estimate $1.51 billion. The growth was primarily driven by increased volume and higher pricing in … [visit site to read more]
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| Syniverse Sales Rise 40%, Guidance Upped Posted: 03 Aug 2010 11:00 AM PDT Syniverse Holdings Inc. (NYSE:SVR) reported second-quarter 2010 adjusted earnings per share of 43 cents which met the Zacks Consensus Estimate. It exceeded the 36 cents in the year-earlier quarter.
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| Posted: 03 Aug 2010 11:00 AM PDT The announcement of Safeway Inc.’s (NYSE:SWY) second quarter results on July 22, 2010, has triggered a downward revision of estimates among analysts. Second Quarter Highlights Safeway reported an EPS of 37 cents, missing the Zacks Consensus Estimate by a penny. The company had reported an adjusted EPS of 43 cents in the year-ago quarter, excluding a tax resolution benefit of 14 cents.
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| Dean Foods EPS Tops, View Tepid Posted: 03 Aug 2010 11:00 AM PDT Dean Foods Co.'s (NYSE:DF) second-quarter 2010 GAAP earnings slipped 30.2% to $44.8 million from $64.1 million in the year-ago period. Excluding special items, adjusted earnings per share came in at 29 cents, well behind 43 cents recorded in the year-ago quarter, but topped the Zacks Consensus Estimate of 25 cents per share. However, Dean Foods offered disappointing guidance for the third quarter of 2010 amid continued headwinds in the form of intense competition from private label milk offered … [visit site to read more]
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| Smith Int’l Net More Than Doubles Posted: 03 Aug 2010 10:45 AM PDT Smith International Inc. (NYSE:SII) reported second-quarter 2010 earnings of 29 cents per share, comfortably beating the Zacks Consensus Estimate of 24 cents and higher than the prior year performance of 15 cents. The quarter was primarily influenced by increased drilling activity in the U.S. and the Middle East/Asia region.
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| Hologic Beats, Raises Guidance Posted: 03 Aug 2010 10:45 AM PDT Hologic (NASDAQ:HOLX) reported an EPS of 10 cents in the third quarter of fiscal 2010 compared with the year-ago quarter's 12 cents. However, after adjusting for certain items, EPS was 30 cents, a penny above both the Zacks Consensus Estimate and the year-ago quarter's adjusted EPS.
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| Analyst Interviews: Insurance Industry Stock Update Posted: 03 Aug 2010 10:30 AM PDT After enduring stress with respect to pricing pressure and reduced insured exposure through mid-2009, the overall health of the U.S. insurance industry has improved to a great extent in 2010. Though the market turmoil forced many companies to take immense write-downs, the worst of the crisis appears to be now behind us. The soft market conditions, along with legislative changes, remain the chief causes for concern for the overall industry at this point. The industry continues to be challenged … [visit site to read more]
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| Emerson Outperforms, Raises Outlook Posted: 03 Aug 2010 10:30 AM PDT Emerson Electric Co.’s (NYSE:EMR) third quarter 2010 earnings surprised on the Zacks Consensus Estimate on the bottom line. Earnings per share from continuing operations of 78 cents increased 53% year over year and was also above the Zacks Consensus Estimate of 68 cents. In the last quarter, Emerson had fallen short of the Zacks Consensus Estimate by 1 cent.
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| Marsh & McLennan Beats Estimates Posted: 03 Aug 2010 10:30 AM PDT On August 3, 2010, Marsh & McLennan Companies Inc.(NYSE:MMC) reported second-quarter adjusted income of $248.0 million or 46 cents per share, ahead of the Zacks Consensus Estimate of 44 cents. This also compares favorably with the income of $190.0 million or earnings of 36 cents in the year-ago quarter. Adjusted earnings per share in both periods exclude one-time items, but include the adjusted operating income of Kroll but not the impact of the disposal transaction.
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| Posted: 03 Aug 2010 10:30 AM PDT We reiterate our Outperform recommendation on Hanger Orthopedic (NYSE:HGR). We believe, at the current level the stock offers an attractive entry point for investors considering healthy earnings growth visibility.
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| Tenet Ahead Of Zacks Consensus Posted: 03 Aug 2010 10:30 AM PDT On August 3, 2010, Tenet Healthcare Corporation (NYSE:THC) reported its second-quarter income from continuing operations of $35 million or 7 cents per share, slightly ahead of the Zacks Consensus Estimate of 6 cents. This also compares favorably with income of $2 million in the year-ago quarter.
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| Posted: 03 Aug 2010 10:30 AM PDT Rowan Companies Inc. (NYSE:RDC) recorded second-quarter 2010 earnings of 79 cents per share, well above the Zacks Consensus Estimate of 68 cents, on the back of solid contract drilling operations. However, the quarter's earnings were lower than the year-ago earnings of 85 cents.
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| HAE Beats, Reaffirms 2010 Guidance Posted: 03 Aug 2010 10:30 AM PDT Haemonetics Corporation (NYSE:HAE) reported earnings per share (EPS) of 70 cents in the first quarter of fiscal 2011 compared with 69 cents in the year-ago quarter. However, after adjusting for certain one- time items, EPS came in at 74 cents surpassing the Zacks Consensus Estimate by 2 cents.
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| Investing Uncertainties In The World Of Fat Tails Posted: 03 Aug 2010 10:26 AM PDT There is little doubt we are living through a period of great uncertainty. There are a wide array of vastly diverging opinions as to what our future economic landscape entails. How often have you felt that people with dramatically disparate outlooks on the market and economy each encompass a number of cogent points? I have felt that sensation numerous times. What is the key variable in each and every opinion and assessment? Timing. When things occur is often more important … [visit site to read more]
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| Posted: 03 Aug 2010 10:15 AM PDT International Business Machines Corp. (NYSE:IBM) announced the completion of the acquisition of Coremetrics, a privately held company, based in San Mateo, California to expand its software and services business. Financial details of the acquisition were not disclosed. IBM had earlier announced its plans to acquire Coremetircs in June 2010. Coremetrics is an Internet research company and a leader in web analytics software. It aids businesses in developing and managing their online marketing … [visit site to read more]
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| Posted: 03 Aug 2010 10:15 AM PDT Second Quarter Revisited
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| EUR/USD Back On The Bullish Track Posted: 03 Aug 2010 10:10 AM PDT Good day FX maniacs! Here’s an update on the fiber or the EURUSD pair. As you can see, the pair has managed to bounce off the 1.3000 support and the uptrend line which I noted in my previous post (kindly see it here) to mark a new 3-month high. You see, the pair has been rising since it bottomed out back in June 7. And in the process of doing so, it also broke out from a inverted head and shoulders and escaped from its downtrend line, placing it back on the bullish track. If you look … [visit site to read more]
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| Posted: 03 Aug 2010 10:05 AM PDT Mitsubishi UFJ Financial Group (NYSE:MTU) is planning to buy BNP Paribas’ (BNPQY) stake in a Chinese fund venture, according to a Reuters report. The company intends to acquire this stake for $50 million. Both Mitsubishi UFJ and BNP Paribas are planning to tender proposals to China's securities regulator for the approval of the SYWG BNP Paribas Asset Management Co. stake. Formed in 2004, SYWG BNP Paribas is a joint venture between BNP Paribas and Chinese brokerage Shenyin & Wangguo … [visit site to read more]
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| Dow Misses Analyst Expectations Posted: 03 Aug 2010 10:05 AM PDT Chemical giant The Dow Chemical Company (NYSE:DOW) missed the Zacks Consensus Estimate of 56 cents per share with net earnings of 54 cents in the second quarter of 2010. However, reported earnings were far ahead of last year's income of 5 cents per share. Including one-time charges related to temporary plants shut down, the company earned 50 cents against a loss of 47 cents in the year-ago quarter. Sequentially, earnings increased 22% from 41 cents per share. Quarterly revenues climbed 26% … [visit site to read more]
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| Posted: 03 Aug 2010 10:05 AM PDT According to the latest research by IDC, worldwide shipment of mobile phones jumped 14.5% year over year to 317.5 million units in the second quarter of 2010. The year-over-over growth was mainly attributable to a rising demand for smartphones and iPhones as well as increased user base and a greater usage for cell phones. The cell phones shipments continues to grow as in the first quarter of 2010, the worldwide mobile phone market had grown 21.7%, fueled by a surge in demand for smartphones … [visit site to read more]
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| BNY Mellon Closes BHF Acquisition Posted: 03 Aug 2010 10:05 AM PDT The Bank of New York Mellon Corp. (NYSE:BK) said on Monday that it has completed its previously announced acquisition of Germany’s BHF Asset Servicing GmbH for EUR253 million (US$330 million). This is a part of BNY Mellon's initiative to expand its global market share. This acquisition allows the company to make a big-bang entry into the German banking market.
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| China Manufacturing Contraction Not Enough To Cause “Double Dip” Recession Posted: 03 Aug 2010 10:04 AM PDT The China manufacturing sector expanded at the slowest rate in 17 months in July, showing the government’s efforts to tighten lending is weighing on the country’s economy. But the Asian juggernaut is still posting strong enough growth to keep the rest of the world out of a “double dip” recession. The HSBC China Manufacturing Purchasing Managers’ Index released Sunday showed activity fell to 49.4 in July from 50.4 in June. A reading above 50 signals expansion, indicating manufacturing … [visit site to read more]
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| Forex Trading: EURUSD And GBPUSD: Setting Up For A Move Lower…again? Posted: 03 Aug 2010 10:03 AM PDT |
| Mixed Bag Of IPO Stock Returns Posted: 03 Aug 2010 10:01 AM PDT The returns of recent IPOs have turned in mixed results to date. In last week’s IPO Update we looked at the difference in returns between the offering price and the open price on the first day of trading. Today we’ll take a look at returns to date, plus new companies set to hit the major exchanges this week. There is lots to cover so let’s get started. From now on I’ll use the 1st day open price to calculate an IPO stock’s return. More often than not, it will be difficult to get … [visit site to read more]
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| Forex Trading: USD/JPY Hits 8-Month Low Posted: 03 Aug 2010 10:00 AM PDT Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (8/03/2010) has established a fresh 2010 low, an 8-month low, after having broken down below the last low of 85.93 established late last week. This breakdown occurs within the context of a strong downtrend for the pair and confirms a continuation of this downtrend. Currently, a key downside support target on continued bearish momentum resides in the key 85.00 price region, which represents the general area of the … [visit site to read more]
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| Posted: 03 Aug 2010 09:50 AM PDT In June, Personal Income (PI) was unchanged from May, a slowdown from the 0.3% increase posted in May and the 0.4% increase recorded in both April and March. Disposable personal income, or after-tax income, followed pretty much the same path: unchanged in June after rising 0.3%, and increases of 0.5% in April and 0.4% in March. Personal Consumption Expenditures (PCE) were also unchanged on the month, but that is not as big a slowdown as on the income side since PCE has been growing at a … [visit site to read more]
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| Posted: 03 Aug 2010 09:50 AM PDT Diversified utility NiSource Inc. (NYSE:NI) posted net operating earnings of 13 cents per share in the second quarter of 2010, surpassing the Zacks Consensus Estimate of 9 cents and last year's earnings of 2 cents. The company's results in the quarter benefited from increased electric industrial margins at Northern Indiana Public Service Company (NIPSCO), together with revenue gains from infrastructure and regulatory programs at the company’s natural gas utilities.
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| David Sokol - Next CEO Of Berkshire Hathaway? Posted: 03 Aug 2010 09:49 AM PDT While word has spread that Li Lu is considered to be the next CIO for Berkshire Hathaway (BRK-B) (BRK-A), the CEO appears to be up for grabs. Among the names that are rumored to succeed Warren Buffett is David Sokol CEO of NetJets and previous CEO of MidAmerican Energy, both Berkshire subsidiaries. Recently, CNN Money has a great article highlighting the person who I believe will be the next CEO of Berkshire Hathaway. He has the track record of running a large corporation and has … [visit site to read more]
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| Posted: 03 Aug 2010 09:30 AM PDT American Tower Corp. (NYSE:AMT) today declared its second quarter 2010 financial results. On a GAAP basis, second quarter net income was $99.7 million or 25 cents per share compared with a net income of $56.3 million or 14 cents per share in the prior-year quarter. EPS of 25 cents was well above the Zacks Consensus Estimate of 20 cents. Higher revenues from the U.S., Latin America and Asia delivered solid results with strong growth in both Adjusted EBITDA and Recurring Free Cash … [visit site to read more]
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| Posted: 03 Aug 2010 09:20 AM PDT Geron Corporation (NASDAQ:GERN) posted a net loss of 18 cents per share in the second quarter of 2010, a penny below the Zacks Consensus Estimate and 4 cents below the year-ago loss of 23 cents. Second-quarter revenue of $1 million was in line with the Zacks Consensus Estimate.
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| Parker Hannifin Beats Estimates Posted: 03 Aug 2010 09:20 AM PDT Parker Hannifin Corp. (NYSE:PH) reported earnings per share from continuing operations of $1.35 for the fourth quarter of 2010, exceeding the Zacks Consensus Estimate of $1.08. Fiscal 2010 fourth-quarter revenue was $2.8 billion, an increase of 26.0% compared with the fourth quarter of fiscal 2009. This was higher than the Zacks Consensus revenue estimate of $2.72 billion.
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| More From The “You Just Can’t Make This Stuff Up” File: Universities That Use Kindles Vs. The ADA Posted: 03 Aug 2010 09:11 AM PDT From today’s Washington Examiner: “The Justice Department threatened several universities with legal action because they took part in an experimental program to allow students to use the Amazon Kindle for textbooks. Last year, Princeton, Arizona State and Case Western Reserve wanted to know if e-book readers would be more convenient and less costly than traditional textbooks. The environmentally conscious educators also wanted to reduce the huge amount of paper students use to print files from … [visit site to read more]
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| Wright Medical Beats Estimates Posted: 03 Aug 2010 09:05 AM PDT Wright Medical Group (WMGI) reported second quarter 2010 adjusted (excluding one-time items) earnings per share of 21 cents, beating the Zacks Consensus Estimate of 14 cents as well as the year-ago result of 18 cents.
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| ASA Staffing Index Reaches 91-Week High In July Posted: 03 Aug 2010 08:57 AM PDT The American Staffing Association (ASA) Staffing Index for temporary and contract employment activity reached a 91-week high of 92 for the week of July 19, the highest level since a reading of 93 for the week of October 20, 2008 (see chart above, data here). Compared to the same week last year, the latest ASA Staffing Index has improved by 24.3% for Week 30 (see bottom chart above). This marks the 14th week in a row with percentage gains … [visit site to read more]
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| Posted: 03 Aug 2010 08:50 AM PDT HCP Inc. (NYSE:HCP), a health care real estate investment trust (REIT), reported second quarter 2010 FFO (funds from operations) of $161.9 million or 55 cents per share, compared with $146.1 million or 55 cents per share 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 second quarter 2010 FFO marginally beat the Zacks Consensus Estimate by … [visit site to read more]
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| Posted: 03 Aug 2010 08:30 AM PDT On July 22, Chipotle Mexican Grill Inc. (NYSE:CMG) reported its second-quarter 2010 earnings of $1.46 per share, well ahead of the Zacks Consensus Estimate of $1.39 and the year-earlier earnings of $1.10. Below we will cover the results of the recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for the short term and long term outlook for the stock.
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| How To Write Covered Calls: Use This Strategy To Kick Your Portfolio Into Overdrive Posted: 03 Aug 2010 08:21 AM PDT Tuesday, August 3, 2010: Issue #1315
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| Australian Dollar: The Downside Prevails Posted: 03 Aug 2010 08:18 AM PDT |
| Canadian Dollar: Under Pressure Posted: 03 Aug 2010 08:18 AM PDT |
| Hot Russian Weather Stokes Wheat Rally Posted: 03 Aug 2010 08:17 AM PDT Fundamentals
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| Posted: 03 Aug 2010 08:15 AM PDT Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) with its tech-savvy brand Aloft is set to explore the Indian hotel market. Starwood inaugurated its first Aloft hotel in Chennai a month ago.
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| The Origins Of The Enthusiasm Gap Posted: 03 Aug 2010 08:10 AM PDT Whatever the outcome of the upcoming midterm elections, the activist phase of the Obama administration has likely come to a close. The President may have a fight on his hands even to hold on to what he's already achieved because his legislative successes have been large enough to fuel strong opposition but not big enough to strengthen his support. The result could be disastrous for him and congressional Democrats.
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| Forex Trading: EURUSD Rebounds In Choppy Action Posted: 03 Aug 2010 07:53 AM PDT The EURUSD rebounded higher after not being able to break through the close from yesterday at 1.3179. The push back up also moved the price back through the 200 bar MA and between the Goal Posts as defined by the 100 and 200 bar MA. The pair has been able to hold below the 100 bar MA at the 1.3223 level on the correction - reaching a high of 1.3217.
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| Forex Trading: EURUSD Taking The Next Bearish Step Toward Yesterday’s Close Posted: 03 Aug 2010 07:19 AM PDT |
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