Wednesday, September 1, 2010

Daily Markets - BRE Buys Assets Worth $185 Million

Daily Markets - BRE Buys Assets Worth $185 Million

BRE Buys Assets Worth $185 Million

Posted: 01 Sep 2010 09:35 AM PDT

BRE Properties Inc. (NYSE:BRE), a real estate investment trust (REIT) that develops and manages multi-family apartment communities, has recently acquired assets worth $185 million in California. With the acquisition, the company has gained a valuable presence in two of the most desirable, high barrier-to-entry submarkets in California characterized by a dearth in developable land and limited new supply.
 
BRE acquired Aqua Marina del Rey, a 500-unit property in Marina del Rey, a seaside … [visit site to read more]

Surprise! ISM Sees Manufacturing Strength

Posted: 01 Sep 2010 09:35 AM PDT

The Institute For Supply Management's (ISM) manufacturing index rose to 56.3 in August from 55.5 in July. This was a big positive surprise, as the consensus had been looking for the index to fall to 52.9.

This is a "magic 50 index" where any reading over 50 indicates that the manufacturing side of the economy is expanding, and any reading under 50 indicates a contraction in manufacturing. The overall index has now been above the magic 50 mark for 13 straight months. Unlike most of the … [visit site to read more]

Wynn Revamps Las Vegas Room

Posted: 01 Sep 2010 09:05 AM PDT

Wynn Resorts Limited (NASDAQ:WYNN), which along with its subsidiaries is a leading developer, owner and operator of destination casino resorts with properties in Las Vegas and Macau, announced recently that it has completed the renovation of the first resort room at Wynn Las Vegas.
 
The renovation was a part of the company's plan, under which it expects to remodel almost 2700 rooms at Wynn Las Vegas.  The remodeling became a necessity as it was almost five years since the company's … [visit site to read more]

SunPower Making Inroads Into U.S.

Posted: 01 Sep 2010 09:05 AM PDT

SunPower Corporation (SPWRA) was selected by a number of U.S. government agencies to install solar projects. The government agencies include the Department of Energy’s National Renewable Energy Lab (NREL), the General Services Administration (GSA), the Navy and the Air Force. SunPower expects to create more than 1000 local jobs while executing these projects.  These contracts represent a minimum of 20 megawatts (MW) of new solar projects for SunPower.
 
SunPower is focused on … [visit site to read more]

Whitney Tilson Bullish On Equities, Bearish On Bonds

Posted: 01 Sep 2010 08:41 AM PDT

Whitney Tilson

Whitney Tilson the famed value investor, and author of Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger , More Mortgage Meltdown: 6 Ways to Profit in These Bad Times and Value Investing Course: Essential Strategies for Market-beating Returns was recently interviewed on CNBC.
Tilson thinks the penduleum might be swinging in favor of stocks over bonds. Tilson described the current situation as "crazy" in which investors are chasing minuscule … [visit site to read more]

Halliburton Seals Deal With Eni

Posted: 01 Sep 2010 08:35 AM PDT

Halliburton (NYSE:HAL) announced that it won an oil field redevelopment contract from Italian oil company Eni SpA (E). Although the financial terms of the contract were not disclosed, the deal is said to be worth a multimillion dollar.
 
Under the terms of the deal, Halliburton will be engaged in increasing oil production from 20 wells in the Zubair field of southern Iraq. The company will use methods such as wire-line logging, perforating and acidizing to enhance production of the existing … [visit site to read more]

Australian Dollar: Caution

Posted: 01 Sep 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Bullish Bias Above 1035

Posted: 01 Sep 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Should Traders Be Souring On Sugar Prices?

Posted: 01 Sep 2010 08:17 AM PDT

Fundamentals
Compared to several other commodity markets, Sugar futures have held their bullish tone lately, due to concerns that Brazilian sugar cane production will be lower than expected due to dry conditions as the growing season nears the end. However, some recent changes in fundamentals might be signaling a price correction could be near. The back-up of ships at Brazilian ports is beginning to ease, which should allow Sugar supplies to reach buyers, helping to elevate current tight … [visit site to read more]

Will The US Stock Market Crash Again?

Posted: 01 Sep 2010 08:15 AM PDT

In a word, not a chance in hell.

Folks we’ve had three real crashes in the last 100 years. The odds of a 4th crash following right on the heels of the 3rd is minuscule.

In the fall of `08 the financial system needed to roll over 700 billion in debt. Unfortunately the credit markets were imploding at that time which made it virtually impossible to refinance that debt. Many of the big banks were on the verge of going under. That was the trigger for the crash we saw in the fall of … [visit site to read more]

CIC To Expand Morgan Stanley Stake

Posted: 01 Sep 2010 08:05 AM PDT

On Tuesday, the Federal Reserve Board approved Chinese Investment Corporation's ("CIC") bid to buy up to 10% voting stake in Morgan Stanley (NYSE:MS) as part of an agreement signed in 2007. The Fed allowed the stake purchase after CIC stated that it will not seek controlling interest and will not occupy more than one seat on the board of directors of the company. CIC's current stake in the company is 2.49%.
 
CIC, a wealth fund wholly owned by the Chinese government for investing its … [visit site to read more]

ADP Sees 10,000 Jobs Lost

Posted: 01 Sep 2010 08:05 AM PDT

The Automatic Data Processing (NYSE:ADP) employment survey was a big disappointment in August. It shows that private sector employment fell by 10,000 in August, well below consensus expectations for a 13,000 increase. This was the first decline in jobs as calculated by ADP this year.

ADP, as the largest payroll processing firm in the country, is in a very good position to look at the state of the job market. In addition, July's job gains were revised down to 37,000 from 42,000. This is more … [visit site to read more]

Verizon And Intuit Join Forces

Posted: 01 Sep 2010 08:05 AM PDT

Verizon Communications Inc. (NYSE:VZ) entered into an alliance with Intuit Inc. (NASDAQ:INTU) to help small businesses expand their foothold by marketing online. Intuit is a leading provider of small-business software, including website services.
 
The alliance between the two companies' will power small businesses with both Internet connectivity and Web marketing tools. Verizon Websites will be available with Intuit and its Web Listings services, which will help small businesses to gain access … [visit site to read more]

Hot Stock News For Wednesday 1 September: BP, JPMorgan, Morgan Stanley, BHP Billiton, Genzyme, Sanofi Aventis

Posted: 01 Sep 2010 07:52 AM PDT

BP (NYSE:BP) - Co. will sell Malaysian Ethylene and Polyethylene interests to Petronas. Petronas will, at closing, pay USD 363mln in cash to co. Both parties anticipate completing the transaction by the end of 2010. (RTRS)

UK

BHP Billiton (NYSE:BHP) - China may launch an antimonopoly probe into co.’s USD 38.6bln bid for Canada’s Potash (NYSE:POT), citing a source familiar with the matter. (China Business News) In other news, co.’s minimum shareholder acceptance threshold of 50.1% of Potash … [visit site to read more]

Stock Market Behavior: How To Break Down The Relationship Between Market Activity And News

Posted: 01 Sep 2010 07:45 AM PDT

Stock Market Behavior: How to Break Down the Relationship Between Market Activity and News
by Marc Lichtenfeld, Advisory Panelist
Wednesday, September 1, 2010: Issue #1337
Last weekend, I hosted a poker game with some friends. During one hand, I made a series of bets, which caused my opponent to think hard about it.
One of the other players coached him: "He's trying to tell you a story with the way he's betting. The question is, do you believe what he's telling you?" My opponent … [visit site to read more]
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