Daily Markets - Wide Of The Mark
Daily Markets - Wide Of The Mark |
- Wide Of The Mark
- Assurant Health To Trim Workforce
- Shipping Boom = Rates Have Doubled Since 2009
- Pressure Bio To Clean Oil Spills?
- Santander On Acquisition Spree
- Why The Current Job Market Recovery Is Stronger Than You Think; Stronger Than Last Two Recessions
- Dick’s Margin Improves In 2Q
- Initiating InTEST At Outperform
- Hospira Expands Japanese Footprint
- Wet Seal In Line With Consensus
- Applied Materials’ China Push
- Warren Buffett Buys Fiserv
- Badger Meter Hikes Dividend Again
- AmSurg Stays Neutral
- Denbury Remains On Growth Track
- Forex Trading: EURUSD Tests Resistance At 1.2681 And Sells Off
- Masimo Expands Supplier Deal
- Equinix Joins With Voxel
- Life Tech Bolsters Asia Portfolio
- Global Economic Recovery Watch: Shipping Boom
- BofA Ratings Upgraded By Fitch
- Earnings Preview: Patterson
- Earnings Scorecard: Brinker
- The Most Energy Efficient Economy In History
| Posted: 23 Aug 2010 04:52 PM PDT It’s amazing how many individuals and organizations give the impression that they are the experts on their industry and yet, they don’t seem to know a whole lot. Take, for example, the National Retail Federation, the world’s largest retail trade association. It seems like only yesterday — actually, it was just over five weeks ago — that the NRF was talking up prospects for the industry’s second-largest selling season: Having outgrown shoes, shirts and even backpacks they've used … [visit site to read more]
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| Assurant Health To Trim Workforce Posted: 23 Aug 2010 03:05 PM PDT Late last week, Assurant Health, a division of Assurant Inc. (NYSE:AIZ), announced that it will cut 130 jobs at its headquarters in Milwaukee, beginning October 1, 2010. This move comes as a part of streamlining the cost structure to better align the organization to match increased costs that will come with the implementation of the recently enacted Health Care Reform Act. Elimination of excess workforce will optimize staffing level, thereby maintaining efficiency. Currently, the company has a … [visit site to read more]
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| Shipping Boom = Rates Have Doubled Since 2009 Posted: 23 Aug 2010 02:47 PM PDT Journal of Commerce — “The Drewry Container Benchmark began tracking the average spot market freight rate from Hong Kong to Los Angeles in late December 2005 and hit its rock bottom at $871 per FEU (forty-foot equivalent units) from July 6 through Aug. 3, 2009. In contrast, a record high of $2,838 per FEU was recorded on Aug. 2 this year (see chart above). The Aug. 16 rate dropped $87 from the week before to $2,737 per FEU in only the second weekly rate decline since March 15. MP: … [visit site to read more]
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| Pressure Bio To Clean Oil Spills? Posted: 23 Aug 2010 02:35 PM PDT Pressure BioSciences Inc.: Brand new application for PCT platform technology In a news release dated on August 23, 2010, Pressure BioSciences, Inc. (NASDAQ:PBIO) announced a collaboration with the Lawrence Berkeley National Laboratory (LBNL). Scientists at LBNL are using PBIO’s pressure cycling technology (PCT) platform in studies aimed at improving the analysis of microorganisms in environments with low biomass, such as oil reservoirs or deep sea oil plumes from oil spills. It is possible that … [visit site to read more]
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| Santander On Acquisition Spree Posted: 23 Aug 2010 02:35 PM PDT Banco Santander SA (NYSE:STD) is on an acquisition spree. The company is intending to acquire a stake in Bank Zachodni WBK, a Polish Bank. In fact, Santander is planning to buy three overseas businesses from Allied Irish Banks (NYSE:AIB), according to a report in the Financial Times. As part of the restructuring efforts following the bailout, Allied Irish Bank needs to sell its 70% stake in Bank Zachodni WBK; a minority stake in M&T Bank (NYSE:MTB), a regional US bank; and a number of branches in … [visit site to read more]
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| Why The Current Job Market Recovery Is Stronger Than You Think; Stronger Than Last Two Recessions Posted: 23 Aug 2010 02:20 PM PDT In its annual Labor Day outlook, global outplacement consultancy Challenger, Gray & Christmas reports that the U.S. job market is well on the road to recovery and is actually rebounding sooner and faster compared to the jobless recoveries that followed the previous two recessions (1990-1991 and 2001). Here are some highlights: 1. At this point in the previous two recoveries – following the 1990-1991 and 2001 recessions – the job market was actually getting worse. Many … [visit site to read more]
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| Posted: 23 Aug 2010 02:05 PM PDT Dick’s Sporting Goods Inc. (NYSE:DKS), an authentic full-line sporting goods retailer, posted impressive second quarter 2010 results, ended July 2010, on the heels of higher sales and improved margins. Quarterly earnings climbed to 43 cents a share from the year-ago level of 36 cents and comfortably outpaced its earnings guidance in the range of 37– 39 cents a share. Dick's also surpassed the Zacks Consensus Estimate of 41 cents per share. A 5.7% increase in consolidated comparable-store … [visit site to read more]
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| Initiating InTEST At Outperform Posted: 23 Aug 2010 02:05 PM PDT inTEST Corporation (NASDAQ:INTT) is a designer, manufacturer and marketer of mechanical, thermal and electrical products that are used by semiconductor manufacturers in conjunction with automatic test equipment (ATE) in the testing of integrated circuits (ICs). Beyond its blue chip portfolio of semiconductor manufacturers, the acquisition of Sigma has propelled the firm to diversify into non-semi thermal testing products. This has the effect of diversifying revenues and opens the company up to new … [visit site to read more]
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| Hospira Expands Japanese Footprint Posted: 23 Aug 2010 01:35 PM PDT Recently, Hospira Inc. (NYSE:HSP) received a boost when the Japanese authorities approved the company's sedative Precedex IV 200ug (dexmedetomidine hydrochloride) for an additional indication. The approval permits the sedative to be marketed in Japan for an extended period of use (greater than 24 hours). In a bid to expand the presence of the molecule across the globe, Hospira had already launched the drug in Canada and South Korea earlier this year.
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| Wet Seal In Line With Consensus Posted: 23 Aug 2010 01:35 PM PDT The Wet Seal Inc. (NASDAQ:WTSLA) delivered second-quarter 2010 earnings of 2 cents a share, in line with the Zacks Consensus Estimate and the year-ago numbers. Revenue and Margins Quarterly net sales slipped 3.6% to $131.5 million as against $136.4 million posted in the year-ago quarter. Consolidated comparable store sales declined 4.3% for the quarter. From a year ago, quarterly operating income plunged 21.2% to $2.6 million. Operating margin dipped 40 basis points to 2.0% in the … [visit site to read more]
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| Posted: 23 Aug 2010 01:35 PM PDT China's emergence as a clean energy powerhouse is driving some prominent Silicon Valley names into shifting their research and innovation facilities to the country. The focus on clean energy stems from the need to reduce dependence on oil and gas, which continue to be largely imported by China. Applied Materials (NASDAQ:AMAT), which makes equipment for the manufacture of solar panels, says China's push for clean energy would result in the country producing nearly two-thirds of the world's … [visit site to read more]
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| Posted: 23 Aug 2010 01:32 PM PDT Warren Buffett recently purchased a roughly $200 million stake in Information-technology provider Fiserv Inc.m a provider of information technology to the financial industries. With a share price of $51.01, Fiserv stock trades at just over 15 times earnings, and has underperformed the S&P 500 over the past year.
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| Badger Meter Hikes Dividend Again Posted: 23 Aug 2010 01:05 PM PDT Badger Meter Inc. (NYSE:BMI) maerrked its eighteen consecutive year of dividend increase by announcing a 2 cent hike in its quarterly dividend to 14 cents per share, or 56 cents per share on an annualized basis. This translates to a 16.7% increase from the prior dividend of 12 cents per share. The higher dividend will be paid on September 15, 2010, to shareholders of record as on August 31, 2010.
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| Posted: 23 Aug 2010 01:05 PM PDT We recently reiterated our Neutral recommendation on AmSurg Corporation (NASDAQ:AMSG) with a target price of $18.00. AmSurg's reported an EPS of 43 cents during the second quarter of fiscal 2010 which surpassed the Zacks Consensus Estimate by a penny. However, earnings were lower than 45 cents reported in the year-ago period.
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| Denbury Remains On Growth Track Posted: 23 Aug 2010 01:05 PM PDT Following better-than-expected second quarter results, we maintain our Neutral recommendation for Denbury Resources Inc. (NYSE:DNR) shares with the Zacks #3 Rank (Hold). The company experienced a solid uptrend in production volumes driven by contributions from recently acquired properties such as Encore Acquisition Company ("EAC").
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| Forex Trading: EURUSD Tests Resistance At 1.2681 And Sells Off Posted: 23 Aug 2010 12:46 PM PDT |
| Posted: 23 Aug 2010 12:35 PM PDT Masimo Corp. (MASI), a leader in the pulse oximetry (a measurement of the amount of oxygen attached to the hemoglobin) monitoring equipment market, has reportedly extended its supply agreement with Premier Purchasing Partners LP (the purchasing unit of Premier Inc.), one of the largest health care group purchasing organizations in the US. Under the expanded supplier contract (valid through May 31, 2012), the members of Premier can now buy the comprehensive suite of Masimo's industry-leading … [visit site to read more]
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| Posted: 23 Aug 2010 12:35 PM PDT Global provider of network-neutral data centers and Internet exchange services for enterprises, content companies, systems integrators, and network service providers Equinix Inc. (NASDAQ:EQIX), is in the process of expanding its cloud computing service network in association with Voxel, a leading provider of hybrid Internet infrastructure. Voxel has been an Equinix customer for the past 10 years. Presumably, the advantages of using Equinix's International Business Exchange data centers have … [visit site to read more]
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| Life Tech Bolsters Asia Portfolio Posted: 23 Aug 2010 12:35 PM PDT Life Technologies (LIFE) has strengthened its product offering in Asia-Pacific with the launch of its 3500 Dx series genetic analyzers, a capillary electrophoresis (CE) system. Following the launch, the product will be available in Australia, India, New Zealand, Singapore, and Taiwan. The genetic analyzer is targeted at the analysis of human DNA or RNA to detect the presence of a particular disease. We also note that since the launch of CE 3500 genetic analyzer in the fourth quarter of … [visit site to read more]
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| Global Economic Recovery Watch: Shipping Boom Posted: 23 Aug 2010 12:15 PM PDT Journal of Commerce — “Container ship charter rates are still climbing through the summer as ocean carriers compete for increasingly scarce tonnage to keep pace with surging cargo volume on key routes from Asia to North America and Europe. Charter rates for ships that can carry 3,500 20-foot containers have more than tripled since the beginning of the year and are set to climb further as unexpectedly strong cargo demand is outstripping the supply of ships for hire and newly built vessels … [visit site to read more]
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| BofA Ratings Upgraded By Fitch Posted: 23 Aug 2010 12:05 PM PDT On Friday, Bank of America Corporation's (NYSE:BAC) individual and preferred stock ratings were upgraded by Fitch Ratings. The rating upgrades reflect the company's efforts to enhance liquidity and improve asset quality trends across various loan portfolios. Fitch upgraded BofA's individual ratings to "C" from "C/D," preferred stock to "BBB-" from "BB-" and trust preferred to "BBB-" from "BB". Apart from these upgrades, the long-term issuer default rating … [visit site to read more]
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| Posted: 23 Aug 2010 12:05 PM PDT Patterson Companies Inc. (NASDAQ:PDCO), a leading distributor of dental, companion-pet veterinarian and rehabilitation medical supplies in the U.S. and Canada, is slated to report results for first-quarter fiscal 2011 (ending July 2010) on Thursday, August 26, 2010. The company has not divulged any financial forecast for the quarter.
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| Posted: 23 Aug 2010 12:05 PM PDT Brinker International Inc. (NYSE:EAT) primarily engaged in the ownership, operation, development and franchising of various restaurant brands, posted fourth quarter and fiscal 2010 results on August 12, 2010. The company's adjusted earnings for both fourth quarter and fiscal 2010 missed the Zacks Consensus Estimate on the back of sagging comparable restaurant sales, hurt by a sluggish economic environment. The recent earnings announcement, subsequent analyst estimate revisions and the Zacks … [visit site to read more]
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| The Most Energy Efficient Economy In History Posted: 23 Aug 2010 11:22 AM PDT The top chart shows that the U.S. had the most energy-efficient economy in history last year (data here), based on the amount of energy consumed to produce each real dollar of Gross Domestic Product (GDP). In 2009, it required only 7,290 BTUs of energy (petroleum, natural gas and other energy) to produce each real dollar of GDP, an all-time record low, and less than half the energy required in the mid-1970s to produce a dollar of output. Just one example of many that contribute to the … [visit site to read more]
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