Friday, September 3, 2010

Daily Markets - Dell Aims To Secure SMBs

Daily Markets - Dell Aims To Secure SMBs

Dell Aims To Secure SMBs

Posted: 03 Sep 2010 08:05 AM PDT

Round Rock Texas-based PC maker Dell Inc. (NASDAQ:DELL) is reportedly expanding its reach in Web security. Recently, Dell tied up with leading Internet Content Security vendor, Trend Micro Inc., to enrich its security-solutions portfolio.
 
Tokyo-based Trend Micro provides its customers (both corporate and consumer) with timely, easy and effective threat protection at reduced administrative costs.
 
With Trend Micro's "Worry-Free Business Security Services", Dell intends to provide … [visit site to read more]

Hot Stock News For Friday 3 September: Apple, Google, BP, Royal Dutch Shell, HSBC

Posted: 03 Sep 2010 07:50 AM PDT

BP (NYSE:BP) - Co. says cost of oil spill response so far is USD 8bln, and no new oil flowed into Gulf since 15 July (Sources)

UK

Royal Dutch Shell (RDS-A) - Co. may sell Swedish Gas stations to Finland’s ST1. (SVT)

HSBC (NYSE:HBC) - Co. may move its headquarters from Britain if the Government’s new Banking Commission calls for a break up of lenders. (The Times)

BAE Systems - Airgas and co. sign a five year supply pact. (Sources)

United Utilities - Co. was yesterday the … [visit site to read more]

Del Monte Q1 Profit Slips

Posted: 03 Sep 2010 07:40 AM PDT

Del Monte Foods Co. (NYSE:DLM), producer, distributor and marketer of branded pet products and food products, posted weaker top-line and earnings results for the first-quarter of 2011, a 13-week quarter ending on August 1, 2010.

Quarterly Details

San Francisco-based Del Monte's earnings slipped to 29 cents from 30 cents a share in the year-ago period and missed the Zacks Consensus Estimate by 9 cents. The quarter highlights a marginal increase in marketing investment, consistent with the … [visit site to read more]

Ross’ August Comps Ups 5%

Posted: 03 Sep 2010 07:40 AM PDT

Off-price retailer of apparels and home accessories, Ross Stores Inc.'s (NASDAQ:ROST), comparable store sales (comps) for August increased 5% versus a 6% increase in the year-earlier period. The increase was attributable to attractive bargains on a variety of products for back-to-school customers. August comps also surpassed the company's expectation of a 3% – 4% increase. Total sales for the four-week period ended August 28, 2010, surged 9% to $608 million from the year-go … [visit site to read more]

Costco Sustains Momentum

Posted: 03 Sep 2010 07:40 AM PDT

Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, recently posted healthy sales data for the four-week period ended August 29, 2010.
 
The company sustained its sales momentum. After a 6% increase in July 2010, Costco's comparable-store sales for August rose 7%, reflecting comparable sales growth of 6% at its U.S. locations and 11% at its international divisions. Comparable-store sales for fourth-quarter 2010 grew 6% with U.S. sales up 4% and … [visit site to read more]

Canadian Dollar: Bullish Bias Above 1035

Posted: 03 Sep 2010 07:18 AM PDT

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

Long Weekend For Bond Traders On Hold

Posted: 03 Sep 2010 07:17 AM PDT

Fundamentals
Bond traders will be glued to their computer screens Friday morning, instead of leaving early for the beach ahead of the long Labor Day weekend in the US, as important economic data is scheduled to be released at 7:30 am Chicago time — the widely anticipated non-farm payrolls report for August. Analysts expect payrolls fell by about 120,000 jobs last month, which is a bit better than the 131,000 jobs lost in July. The unemployment rate is expected to tick up to 9.6%, vs. 9.5% in … [visit site to read more]

Stock Market News Briefs: Campbell Soup Company, Goldcorp Incorporated, H&R Block, Hewlett-Packard Company, Piper Jaffray Companies, W.R. Grace & Company, CommVault Systems, Dell, Isilon Systems, Take-Two Interactive Software

Posted: 03 Sep 2010 07:05 AM PDT

 H&R Block (NYSE:HRB) posted nickel higher than expected fiscal first quarter results, with a loss of 36 cents on revenues of $275 million, off 0.4% from a year ago but up from estimates of $265 million

 Dell (NASDAQ:DELL) quit the eighteen-day bidding war with Hewlett-Packard (NYSE:HPQ) for 3PAR (PAR). Dell’s exit fed rumors the firm may now turn to other makers of storage systems, with rumors surrounding possible targets including CommVault Systems (NASDAQ:CVLT), Isilon Systems (NASDAQ:ISLN), … [visit site to read more]

Rating Action On CINF

Posted: 03 Sep 2010 07:05 AM PDT

Yesterday, the rating agency Fitch Ratings affirmed the issuer default rating (IDR) as well as senior debt rating of "A-" and "BBB+" on Cincinnati Financial Corporation (NASDAQ:CINF). Along with this, the rating agency also affirmed the issuer financial strength (IFS) rating of A+ on three of its subsidiaries –– the Cincinnati Insurance Co., the Cincinnati Casualty Co., the Cincinnati Indemnity Co., and the Cincinnati Life Insurance Co. All the ratings carry a stable … [visit site to read more]

Campbell Soup EPS Beats

Posted: 03 Sep 2010 07:05 AM PDT

Campbell Soup Co. (NYSE:CPB) reported fiscal 2010 fourth-quarter adjusted earnings of 33 cents per share, topping the Zacks Consensus Estimate of 30 cents. Quarterly earnings also came in ahead of the year-ago result of 30 cents per share.

Campbell's net sales during the quarter declined by a modest 0.7% year-over-year to $1.52 billion, which missed the Zacks Consensus Estimate of $1.60 billion. The decline was primarily caused by higher promotional spending, partially offset by favorable … [visit site to read more]

American Phys. Goes To ProAssurance

Posted: 03 Sep 2010 07:05 AM PDT

Yesterday, medical professional liability insurer American Physicians Service Group Inc. (NASDAQ:AMPH) agreed to be acquired by ProAssurance Corporation (NYSE:PRA). Per the agreement, the shareholders of American Physicians will receive $32.50 per share in cash from the acquirer and the transaction is expected to close in the fourth quarter of 2010. Excluding one-time transaction and restructuring costs, ProAssurance expects the transaction to be accretive to its 2011 earnings.
 
American … [visit site to read more]

Forex Trading: EURUSD Tests 38.2% Fibo Resistance At 1.2871 Level

Posted: 03 Sep 2010 06:39 AM PDT

The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent highs come … [visit site to read more]

Job Losses Beat Expectations

Posted: 03 Sep 2010 06:35 AM PDT

For the third month in a row, the U.S. has posted negative jobs growth. In August, the Bureau of Labor Statistics (BLS) reported that nonfarm payrolls fell by 54,000 jobs — the same as the revised number for July — while expectations were for around 120,000 job losses.

The private sector showed a net jobs increase of 67,000 for August, an improvement over the 44,000 private sector jobs expected. Though still at a modest growth level, private-sector jobs growth is a positive sign for the … [visit site to read more]

Ulta Beats; Outlook Strong

Posted: 03 Sep 2010 06:35 AM PDT

Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ:ULTA) posted its second-quarter 2010 adjusted earnings of 25 cents per share, which were well ahead of the Zacks Consensus Estimate of 19 cents. Including one-time compensation charges, Ulta Salon recorded a quarterly net income of $13.1 million or 22 cents per share, well above $5.8 million or 10 cents recorded in the year-earlier quarter.
 
Total revenue in the quarter under review surged 17.6% year over year to $321.8 million. The increase … [visit site to read more]

Private-Sector Jobs Increase For The 7th Month, First Time Since 2007; +763,00 Jobs This Year

Posted: 03 Sep 2010 06:34 AM PDT

Some highlights of today’s employment report for August:

1. Private-sector jobs have increased in each month this year, and by 67,000 in August, bringing the total to 763,000 private-sector jobs that have been created this year.  This is the first time since January to August 2007, three years ago, of seven consecutive monthly gains in private-sector employment (see top chart above).

2. Temporary help service jobs increased in August by 16,800 to 2,116,000 jobs, the … [visit site to read more]

Forex Trading: USDCAD Tests Support At 1.0425 Level.

Posted: 03 Sep 2010 06:23 AM PDT

Coca Cola Acquires Nidan

Posted: 03 Sep 2010 06:20 AM PDT

The Coca Cola Company (NYSE:KO) has acquired Nidan, the fourth largest juice manufacturing company in Russia. The acquisition is a part of the company’s strategic plan to expand its presence in the fast growing emerging markets through strategic acquisitions. Nidan’s products include Moya Semya, Da! and Caprice; and the company has its facilities in Moscow and Novosibirsk.
Coca Cola already has a presence in the Russian juice market and commands a 22% market share through Multon. Now, with the … [visit site to read more]

Ball Corp. To Close Canadian Plant

Posted: 03 Sep 2010 06:20 AM PDT

Ball Corporation (NYSE:BLL) announced that owing to sluggish market demand it has decided to close its Richmond, British Columbia plant, effective first quarter of fiscal 2011. As a result of the closure, Ball Corporation will record a total non-cash, after-tax charge of approximately $7 million, of which $3 million will be incurred in the third quarter of 2010. Following the final disposition of the land and building, Ball Corporation estimates the closure will result in a net gain of … [visit site to read more]

Swiss Franc: Under Pressure

Posted: 03 Sep 2010 06:18 AM PDT

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

Japanese Yen: The Downside Prevails

Posted: 03 Sep 2010 06:18 AM PDT

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

British Pound: Rebound

Posted: 03 Sep 2010 06:18 AM PDT

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

Euro: Caution

Posted: 03 Sep 2010 06:18 AM PDT

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

Salix Settles MoviPrep Lawsuit

Posted: 03 Sep 2010 06:05 AM PDT

Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) and partner Norgine BV recently announced that they settled a patent litigation with Novel Laboratories, which was looking to bring a generic version of MoviPrep to market. MoviPrep is a liquid bowel cleansing agent. The case is currently pending in the US District Court for the District of New Jersey.
 
Upon the court's approval, Novel Labs will dismiss its claim of invalid patents for MoviPrep while Salix and Norgine will drop their lawsuit against … [visit site to read more]

Forex Trading: GBPUSD Can’t Conquer 38.2% Retracement And Comes Back Off

Posted: 03 Sep 2010 05:53 AM PDT

The price is back between the trendlines now and down toward the 200 day MA at … [visit site to read more]

Forex Trading: EURUSD Remains Contained Between Support And Resistance

Posted: 03 Sep 2010 05:49 AM PDT

1.2812 remains support
1.2871 remains resistance.
Noise in … [visit site to read more]

Forex Trading: GBPUSD Breaks 200 Hour MA…1.5467 Next Target (38.2% Retracement)

Posted: 03 Sep 2010 05:46 AM PDT

…and trendline.  Looking for increased upside momentum with 1.5468 the next target to get through. The high on Wednesday came in at 1.5488. The close last week was 1.5511 and 50% retracement is … [visit site to read more]

Forex Trading: EURUSD Using The 38.2% First Resistance

Posted: 03 Sep 2010 05:40 AM PDT

The level comes in at 1.2871.  A break above targets the 1.2896 trendline … [visit site to read more]

Burger King To Be Bought By 3G

Posted: 03 Sep 2010 05:35 AM PDT

Burger King Holdings Inc. (NYSE:BKC), the world's second-largest hamburger chain after McDonald’s Corp. (NYSE:MCD), announced that it is being acquired by a private investment firm 3G Capital for $24 per share, or $4.0 billion, including the debt of the company.

The offer price is at a 46% premium to the share price before the speculation of buyout talks in the market on Wednesday. The transaction is expected to close in the fourth quarter of 2010.

As per the agreement, Burger King’s Chairman and … [visit site to read more]

PDLI Gives Third-Quarter Outlook

Posted: 03 Sep 2010 05:35 AM PDT

PDL BioPharma Inc. (NASDAQ:PDLI) recently announced that it expects to generate third-quarter 2010 (ending September 30) revenue of $86.0 million, representing an increase of 20% over the year-ago revenue of $71.4 million.
 
The increase is primarily attributable to higher sales of Avastin, Herceptin, Lucentis and Tysabri during the second quarter, on which PDL BioPharma will receive royalties in the third quarter. The Zacks Consensus Estimate for the third quarter is $3 million below the … [visit site to read more]

Health Care Reality Will Be Ongoing Economic Drag

Posted: 03 Sep 2010 03:39 AM PDT

I have often thought that staying physically fit is not only a good way to live but also makes enormous economic sense as well. Not that staying fit will keep one's healthcare premiums totally in check, but the simple fact is the cost of healthcare insurance in our country is downright scary. Staying fit is one way of keeping premiums not quite as egregious.
The pace of change in healthcare premiums has been even scarier. How much so? Do you care to make a best guess as to what the average … [visit site to read more]

Global Manufacturing Production: Momentum Rapidly Decelerating!

Posted: 03 Sep 2010 03:26 AM PDT

The August manufacturing PMIs came in mixed. The U.S. and China surprised on the upside while Japan disappointed with its manufacturing sector barely growing.

Country

Manufacturing PMI

August 2010
July 2010
Trend

United States
56.3
55.5
Higher, expanding

Euro zone
55.1
56.7
Lower, expanding

Germany
58.2
61.2
Robust, slowing

France
55.1
53.9
Higher, expanding

Greece
43.0
45.3
Weaker, contracting

Italy
52.8
54.4
Softer, expanding

Spain
51.2
51.6
Softer, expanding … [visit site to read more]

Ritholtz: What Obama Should Do Next

Posted: 03 Sep 2010 03:23 AM PDT

What President Obama should do next for the economy, with Barry Ritholtz, author of The Big Picture … [visit site to read more]

Quote Du Jour: Dylan Grice – Focus On Things We Know

Posted: 03 Sep 2010 03:19 AM PDT

I referred to some comments by Albert Edwards from Société Générale in a post a few days ago. Today's quote of the day comes from his colleague on the SocGen Global Strategy Team, Dylan Grice. Not only is Grice brilliant at his game but also a wordsmith of note.
"Some have said that the key risk investors face today is 'policy error'. But isn't that always the key risk? Financial history is one long series of 'policy errors' and while policy makers labor under the delusion … [visit site to read more]
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