Friday, September 17, 2010

Daily Markets - Credit CARD Act Of 2009: What Credit Card Companies Must Tell You

Daily Markets - Credit CARD Act Of 2009: What Credit Card Companies Must Tell You


Credit CARD Act Of 2009: What Credit Card Companies Must Tell You

Posted: 17 Sep 2010 07:50 AM PDT

The Credit CARD Act of 2009 is a federal law passed by the US Congress and signed by President Obama on May 22, 2009, giving credit card users more protection. In this article, we kick off the first of a series of what you can expect from the new federal actions – explained in an easy-to-understand manner.

As a credit cardholder, you now have the right to be notified by credit card companies of certain changes and rights you have. Here we give you a quick rundown.

Effective February … [visit site to read more]


Stock News To Know For Friday: Johnson & Johnson, Crucell, Research In Motion, Dell, Texas Instruments, Oracle, Banco Santander

Posted: 17 Sep 2010 07:47 AM PDT

The S&P 500 remained virtually unchanged Thursday after a cuts in profit forecast from bellwether stock FedEx (NYSE:FDX) overshadowed gains in technology shares before Apple's (NASDAQ:AAPL) release of the iPad tablet computer in China. FedEx, the second-biggest U.S. package-shipment company, lost 3.8% and homebuilder Pulte Group shed 3.9% as reported foreclosures reached a record. But Apple gained 2.4% to an all-time high of $276.57 and technology stocks advanced the most among 10 … [visit site to read more]


Macy’s To Extend Warehouse Center

Posted: 17 Sep 2010 07:35 AM PDT

With online sales gaining faster traction than traditional sales, Macy’s Inc. (NYSE:M), one of the leading department store retailers in the United States, felt the need to extend its warehouse center near Portland in Robertson County, Tennessee, to better serve the increasing online orders.
 
Online sales, which include macys.com and bloomingdales.com, jumped approximately 20% in 2009 and climbed 31% in the first half of 2010. During the most recent quarter reported online, sales were up … [visit site to read more]


Oracle’s 1Q Beats, Guides Up

Posted: 17 Sep 2010 07:35 AM PDT

Oracle Corp.'s (NASDAQ:ORCL) first quarter 2011 earnings and revenues easily outpaced the Zacks Consensus Estimates on the back of strong new software license (sales to new customers) sales and growth in hardware sales, boosted by the acquisition of Sun Microsystems in January this year. The results indicate increased business spending by corporations.

Total revenue was above the high end of the company's guided range. Moreover, the growth in new licensing revenues and earnings per share (EPS) … [visit site to read more]


Hot Stock News For Friday: Research In Motion, Oracle, BP, Johnson & Johnson, Shell, Vodafone, HSBC

Posted: 17 Sep 2010 07:26 AM PDT

US equities finished the session mixed as employment related data outweighed poor earnings from FedEx and a disappointing headline figure from the Philly Fed survey. Ford (NYSE:F) (+4.8%) was among the best performing stocks after Barclays upgraded the stock to overweight from equal weight and as mentioned earlier, FedEx (NYSE:FDX) fell around 4% after missing the street estimates. The closing stages of the session saw indices push to fresh session highs and at the closing bell DJIA closed up … [visit site to read more]


Forex Trading: USDJPY In Narrow Consolidating Range Today

Posted: 17 Sep 2010 07:22 AM PDT

Cardinal Sells CareFusion Shares

Posted: 17 Sep 2010 07:05 AM PDT

Cardinal Health (NYSE:CAH), a leading distributor of pharmaceuticals and medical supplies, recently sold off the remaining 30.5 million shares of CareFusion Corporation (CFN) for $705.9 million. CareFusion, a San Diego-based vendor for medical equipment and infection control supplies, was spun off from Cardinal Health in 2009.
 
As per the spin-off arrangement, Cardinal Health distributed 0.5 shares of CareFusion common stock for each share of its stock that was outstanding. It retained … [visit site to read more]


Triumph Downgraded To Neutral

Posted: 17 Sep 2010 07:05 AM PDT

We downgrade our recommendation on Triumph Group Inc. (NYSE:TGI) from Outperform to Neutral based on the belief that the current stock price already reflects the synergy benefits from the Vought acquisition. Further, stiff competition and low barriers to entry in the OEM markets including the present slow market movement poses immense risk.
 
During the first quarter of fiscal 2011, the Vought acquisition was highly accretive to earnings and the reported EPS of $1.33 surpassed the Zacks … [visit site to read more]


Stock Market News Briefs: BHP Billiton Limited, CenturyTel, Goldman Sachs Group, HSBC Holdings Plc, International Game Technology, Jefferies Group, Johnson & Johnson, Massey Energy Company, McDonald’s, Noble Energy, Qwest Communications International, UBS AG, Crucell NV

Posted: 17 Sep 2010 07:05 AM PDT

 Johnson & Johnson (NYSE:JNJ) is reportedly planning to buy its remaining stake in Dutch biopharmaceutical firm Crucell (NASDAQ:CRXL), in a deal valued at $2.29 billion

 Goldman Sachs (NYSE:GS) upgraded CenturyLink (NYSE:CTL) to “buy” from “neutral”

 Goldman Sachs (NYSE:GS) upgraded Qwest (NYSE:Q) to “buy” from “neutral,” taking the price target from $5.75 to $7.00

 UBS (NYSE:UBS) downgraded Noble Energy (NYSE:NBL) to “neutral” from “buy,” with a price target of $76

 Macquarie cut … [visit site to read more]


Fuji Outperforms

Posted: 17 Sep 2010 07:05 AM PDT

We maintain our Outperform recommendation on the ADR of Fujifilm Holdings Corporation (FUJIY) based on its strong business and expansion strategy into wider markets with innovative products. Further, Fuji's cost and expense reduction techniques and its acquisition strategy are expected to boost both top-line and bottom-line results.
 
Fuji has been continuously developing innovative products that applied photographic film-related technologies in the medical (X-ray diagnosis), printing, … [visit site to read more]


Forex Trading: USDCAD Tests Key Upside Resistance Levels After Break Above Trendline

Posted: 17 Sep 2010 07:02 AM PDT

The Crackpot Gap: Why It May Be A Boon To Democrats But A Danger To America

Posted: 17 Sep 2010 06:56 AM PDT

After the victories of many of the insurgent primary candidates she's sponsored, Sarah Palin is off to Iowa today (Friday) for a high-profile series of political events. Is it possible she's looking to make a run in 2012? Do birds fly?
Republicans are being fueled by a so-called "enthusiasm gap" but their biggest worry leading up to the midterms should be the "crackpot gap."
In Delaware, Palin-endorsed tea partier Christine O'Donnell is so far right she's called "delusional" … [visit site to read more]


Expanded Approval For BSX’s CRT-Ds

Posted: 17 Sep 2010 06:35 AM PDT

Boston Scientific Corporation (NYSE:BSX) has received approval from the US Food and Drug Administration (FDA) for additional indications for its cardiac resynchronization therapy defibrillators (CRT-Ds). Following this approval, Boston Scientifics' CRT-Ds are the only devices to treat all patients under four classes of heart failure as per New York Heart Association (NYHA). 

Earlier, Boston Scientific's CRT-Ds were approved for two classes of patients – III and IV. Subsequent to the … [visit site to read more]


Kroger Enhances Return

Posted: 17 Sep 2010 06:35 AM PDT

After a hiatus of a day since its earnings release on September 14, 2010, The Kroger Company (NYSE:KR), one of the largest grocery retailers in the U.S., hit the market with the news of dividend increase, reflecting its plan to utilize its free cash to enhance shareholders' return, thereby boosting investor confidence on the stock.
 
The Cincinnati-based company, Kroger, raised its quarterly dividend by 10.5%. This is the fourth time the company has hiked its dividend since the inception … [visit site to read more]


Forex Trading: USDCHF Corrects Lower On Safe Haven Flows

Posted: 17 Sep 2010 06:32 AM PDT

Swiss Franc: Under Pressure

Posted: 17 Sep 2010 06:18 AM PDT

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


Japanese Yen: The Downside Prevails

Posted: 17 Sep 2010 06:18 AM PDT

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


British Pound: Under Pressure

Posted: 17 Sep 2010 06:18 AM PDT

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


Euro: Under Pressure

Posted: 17 Sep 2010 06:18 AM PDT

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


MGM Resorts Announces New COO

Posted: 17 Sep 2010 06:05 AM PDT

MGM Resorts International (NYSE:MGM), one of the world’s leading global hospitality companies, recently announced the promotion of Corey Sanders to chief operating officer (COO). Over a year ago, Mr. Sanders was promoted as the COO of the company's core brand and regional properties. MGM Resorts' management is confident about Mr. Sanders' profound knowledge both on the operational as well as on financial front and believes that he will be equally successful in his new role as he has been in … [visit site to read more]


Sales Rise For Benihana

Posted: 17 Sep 2010 06:05 AM PDT

Benihana Inc. (BNHN) the U.S. chain of Japanese restaurants, reported total sales of $23.5 million for the four week period ending September 12, 2010, up 3.5% from $22.7 million in the year-ago period. Results reflect the benefits of the Benihana teppanyaki Renewal Program, which the company initiated in 2009 to improve the dining experience of the guests at the Benihana teppanyaki restaurants.
 
The company's comparable restaurant sales grew 4.2% for the period, representing the … [visit site to read more]


Bruce Berkowitz Is Loading Up On Financials

Posted: 17 Sep 2010 06:00 AM PDT

Bruce Berkowitz

Bruce Berkowitz's comments from the latest shareholder letter are below. He talks at length about why the company is loading up on financials. I have criticized his complete change of strategy from one that focuses on free cash flow to one that seems more like a macro bet on the financial sector, and is more akin to distress investing.

I wrote a brief article on the topic on Guru Focus several weeks ago. http://www.gurufocus.com/news.php?id=102046. I hope to write … [visit site to read more]


4 Out Of 10 Uninsured Americans: A) Live In Households Making More Than $50,000 Per Year, And B) Are Between The Ages Of 18 And 34

Posted: 17 Sep 2010 05:27 AM PDT

According to this new Census Bureau report “Income, Poverty, and Health Insurance Coverage in the United States: 2009,” there were 50.67 million uninsured Americans in 2009, up from 46.34 million in 2008.

The chart above shows the household income levels of those 50.67 million uninsured Americans. There were 10.6 million uninsured Americans living in households making $75,000 per year or more, and this group represents more than 1 out every 5 uninsured (20.8% of the … [visit site to read more]


Forex Trading: EURUSD Continues Sharp Fall In NY Trade

Posted: 17 Sep 2010 05:13 AM PDT

Great American Gary Aguirre “Cross Examines” SEC In Re: FOIA Exemption

Posted: 17 Sep 2010 05:03 AM PDT

(LD's edit: I truly believe this could be the single most important and enlightening commentary ever put forth at Sense on Cents. Although it is a little lengthy and has some legalese, if you care about truth, transparency, and integrity in our nation, take the time to read and review. You will be better for it. I encourage you to share it with friends and colleagues.)
Washington still does not get it.
I strongly believe the deeply embedded Wall Street-Washington incestuous relationship … [visit site to read more]


Eurozone Construction Output Falls For The First Time Since February

Posted: 17 Sep 2010 04:30 AM PDT

        

Fundamental Headlines
• Weak Dollar Pushes Gold to New Highs – Wall Street Journal
• Euro Gains as Debt Fears Ease – Wall Street Journal
• U.S. Banks Braced for Further Bad News – Financial Times
•Bernanke Shadow of Quantitative Ease Limits BoJ Success With Yen Weakness- Bloomberg
• Junk Bonds Reach Par For First Time Since '07 on Upgrades: Credit Markets – Bloomberg
EUR/USD: Producer prices in Germany were flat for the month … [visit site to read more]


Practical Tips To Best Utilize RESP Savings And Control Student Debt With Aurele Courcelles, Director Of Tax And Estate Planning At Investors Group

Posted: 17 Sep 2010 04:07 AM PDT

Aurele Courcelles is Director, Tax and Estate Planning at Investors Group

According to Statistics Canada, university tuition fees in 2009/10 were up 3.6 per cent to an average of $4,917 and compulsory fees (such as student services fees, administrative charges, athletic and recreation fees) for Canadian students increased 6.8 per cent from the year before to $749. On top of this, student living costs for rent, transportation, food etc. can range from $500 to over $30,000 depending on where … [visit site to read more]


ECRI Watch: Improving!

Posted: 17 Sep 2010 03:29 AM PDT

The ECRI Weekly Indicator for the week ended September 3 came in at 122.0 compared to the previous week's 120.5. The closely watched ECRI WLI Smoothed Annualised Growth Rate came in at -10.1% compared to -10.2% of the previous week. That compares to our forecast of "sharply lower".
Following suggestions by some of my readers and a better than anticipated smoothed annualised growth number for the ECRI WLI published last week I revisited my indicators, as it turned out that the indicators … [visit site to read more]


Yen Intervention Unlikely To Succeed, Says El-Erian

Posted: 17 Sep 2010 03:28 AM PDT

Mohamed El-Erian, chief executive officer of PIMCO, talks about Japan's intervention in the foreign-exchange market to weaken the yen. He also discusses the ineffectiveness of economic policies.

Still on the same topic of the yen, the following comments come courtesy of BCA Research – Daily Insights:
"The Japanese yen fell earlier this week as the Bank of Japan [[BoJ]] intervened in the foreign exchange market to sell the currency for the first time since 2004. Prior to the … [visit site to read more]


Jon Stewart: Faces Of Debt

Posted: 17 Sep 2010 03:26 AM PDT

How badly did the U.S. economy tank during the "summer of recovery"? Which party is winning the Twitter war over tax … [visit site to read more]


Laugh Out Loud: The Cuban Model …

Posted: 17 Sep 2010 02:35 AM PDT

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