Monday, September 13, 2010

Daily Markets - Earnings Preview – Best Buy

Daily Markets - Earnings Preview – Best Buy

Earnings Preview – Best Buy

Posted: 13 Sep 2010 08:05 AM PDT

Best Buy Company Inc. (NYSE:BBY), one of the leading specialty retailers of consumer electronic products, is scheduled to report its second-quarter 2011 financial results before the bell on Tuesday, September 14, 2010. The current Zacks Consensus Estimate for the quarter is 44 cents a share.
 
First-Quarter 2011, a Synopsis 
Best Buy reported first-quarter 2011 on June 15, 2010. Despite a sustained growth in the top-line, the quarterly earnings of 36 cents a share fell short of the Zacks … [visit site to read more]

El Paso Offers To Swap Debt

Posted: 13 Sep 2010 08:05 AM PDT

In a process to restructure its debts, El Paso Corporation (NYSE:EP) announced that it will issue 6.50% notes due 2020 and swap them with its outstanding 12.0% senior notes due 2013.
 
The exchange offer is valid till October 7, 2010. However, El Paso has also fixed an early exchange date of September 23, 2010, for swapping the notes. Existing holders of the notes, who tender their notes on or before the early exchange date, will be eligible for an additional early exchange … [visit site to read more]

Hot Stock News For Monday 13 September: Apple, Goldman Sachs, Hewlett-Packard, BP, Xerox, Prudential, Barclays, Deutsche Bank

Posted: 13 Sep 2010 07:47 AM PDT

Equities finished higher on what turned out to be a very quiet end to the week with little in terms of economic releases from the US. The oil and gas sector posted some decent gains after the IEA raised their global oil demand forecast. On the contrary, utilities weighed after a PG&E (-8.35%) gas pipeline exploded in San Francisco. In terms of individual companies, Research in Motion (NASDAQ:RIMM) (-2.0%) saw some underperformance after JPMorgan (NYSE:JPM) (-0.85%) revealed employees would be … [visit site to read more]

Earning Preview: Research In Motion

Posted: 13 Sep 2010 07:35 AM PDT

Research In Motion Ltd. (NASDAQ:RIMM) is on the verge of declaring its quarterly financial results that may turn out to be very critical for its future operations. On September 16, after the closing bell, the company will announce its second quarter results of fiscal 2011. Despite generating healthy net earnings in the last quarter, the stock has plunged nearly 25% in the last two and half months. Considering a 52-week price chart, the stock is down almost 50% from its peak and now trading at the … [visit site to read more]

Investors Big On Japan Real Estate

Posted: 13 Sep 2010 07:35 AM PDT

With the bottoming out of real estate prices and a recovery in the debt market, foreign investors are increasingly favoring Japanese real estate over others. Over $2 billion worth of investment deals were inked since late last year with more in the pipeline.
 
Mapletree Investments, the real estate arm of Singapore’s state investor Temasek Holdings, is one of the leading foreign investors who have shown interest in the Japanese real estate sector with nearly $1 billion earmarked for … [visit site to read more]

Varian To Feature TrueBeam At ESTRO

Posted: 13 Sep 2010 07:35 AM PDT

Varian Medical Systems (NYSE:VAR), a leader in oncology-related devices and software, will showcase its latest TrueBeam medical linear accelerator used for rapid and efficient cancer treatment at the European Society for Therapeutic Radiology and Oncology (ESTRO) exhibition to be held in Barcelona next week. In line with its objective, a fully-loaded TrueBeam system will be the showpiece of the company's exhibits.
 
Varian is a leader in developing technology that promotes the ability of … [visit site to read more]

SEC Probe Of Money Managers Should Also Include FINRA

Posted: 13 Sep 2010 07:11 AM PDT

In reading a Bloomberg commentary this morning, I could not help but think that policy implementations that the SEC would like to impose upon money managers also need to be imposed in retrospect upon its regulatory kin at the Financial Industry Regulatory Authority (FINRA).  Let's navigate. Bloomberg writes, SEC Probes Money Managers for Conflicts in Choosing Hedge Funds,

The U.S. Securities and Exchange Commission, stepping up its oversight of investment advisers, is examining whether … [visit site to read more]

Invesco’s AUM Declines In August

Posted: 13 Sep 2010 07:05 AM PDT

On Friday, Invesco Ltd. (NYSE:IVZ) reported its preliminary month-end assets under management (AUM) of $573.8 billion for the month of August, down 1.1% from $580.3 billion in July 2010. Excluding exchange traded funds (ETFs), Unit Investment Trust (UIT) and passive funds, AUM was $494.5 billion.
 
Decline in the AUM was primarily due to dwindling global financial markets and weakening foreign currencies as against the U.S. dollar, which led to a fall of $2.0 billion in AUM. However, these … [visit site to read more]

Stock Market News Briefs: 3M Company, AutoZone, Cummins, Deutsche Bank AG, Dollar Thrifty Automotive Group, Exxon Mobil, Goldman Sachs Group, Hertz Global Holdings, Inc, Hewlett-Packard Company, Xerox, Arc Sight, Research In Motion Limited

Posted: 13 Sep 2010 07:05 AM PDT

 Deutsche Bank (NYSE:DB) announced plans to raise at least $12.5 billion in fresh capital to meet stricter capital requirements and increase its stake in Postbank from 30% currently

 Hewlett-Packard (NYSE:HPQ) confirmed its intentions to acquire ArcSight (NASDAQ:ARST) for $1.5 billion

 Hertz (NYSE:HTZ) sweetened its offer for Dollar Thrifty (NYSE:DTG) to about $1.56 billion, or $50 per share, up $10.80 per share from its previous bid

 A Barron’s article opined Xerox (NYSE:XRX) shares … [visit site to read more]

Rogers And Astral Join Forces

Posted: 13 Sep 2010 07:05 AM PDT

Canadian communications and media company Rogers Communications Inc. (NYSE:RCI) and Canada’s leading broadcaster of premium pay-and-specialty television services Astral signed an agreement, whereby Rogers' customers will be able to access an array of exciting channels such as TMN, HBO Canada, Mpix, Family Channel and Playhouse Disney entertainment channels. This deal will enable the customers to enjoy these channels anywhere, round the clock and virtually through any visual … [visit site to read more]

Forex Trading: EURJPY Showing Some Bullish Tendencies. Risk Defined.

Posted: 13 Sep 2010 06:39 AM PDT

EURJPY has been pressured down with the strength of the JPY and Eurozone worries. The pair has some small bullish signs that could signal a positive/bullish bias. The low last week was higher than the low in August. The price moved above the 100 and 200 hour MA today. The price is in a two day up channel. If the technical levels can hold and momentum maintained, the pair has room to run to the upside. Al is dependent on holding key technical support. For a review, click on the … [visit site to read more]

Frisch’s Hikes Dividend

Posted: 13 Sep 2010 06:35 AM PDT

Frisch’s Restaurants Inc. (FRS), a full-service restaurant company that operates under the name of Frisch’s Big Boy, recently announced its decision to hike quarterly dividend by 2 cents to 15 cents per share. This translates into a 15.0% increase from the prior dividend. The increased dividend will be paid on October 8, 2010, to stockholders of record on September 20, 2010. This represents the 199th consecutive quarterly dividend paid by Frisch’s Restaurants and brings the new forward … [visit site to read more]

SID To End Railway Project In 2012

Posted: 13 Sep 2010 06:05 AM PDT

Companhia Siderurgica Nacional (NYSE:SID), one of the leading Brazilian steel makers, announced that it expects its Transnordestina railway and logistics project to be fully operational by the end of 2012. The $2.6 billion project will enable CSN to transport over 30 million tons of cargo annually in the northeastern part of Brazil. 
 
Earlier in August 2006, Companhia Siderurgica's affiliate Companhia Ferroviária do Nordeste, or CFN, merged with state-owned Transnordestina S.A., … [visit site to read more]

Earnings Preview: Kroger

Posted: 13 Sep 2010 06:05 AM PDT

The Kroger Company (NYSE:KR), one of the largest US grocery retailers, is scheduled to report its second-quarter 2010 financial results on Tuesday, September 14, 2010. The current Zacks Consensus Estimate for the quarter is 36 cents a share.
 
First-Quarter 2010, a Synopsis
 
Kroger posted first-quarter 2010 results that topped the Zacks expectations. Quarterly earnings of 58 cents a share outpaced the Zacks Consensus Estimate of 54 cents but dropped 12.1% from 66 cents delivered in the … [visit site to read more]

Horizon Bank Fails, Tally Hits 119

Posted: 13 Sep 2010 06:05 AM PDT

Following a lull in bank failures for the last week of August and the first week of September, U.S. regulators last Friday shuttered Bradenton, Florida-based Horizon Bank, pushing up U.S. bank failures to 119 so far in 2010. This compares with a total number of 140 bank failures in 2009, 25 in 2008 and just 3 in 2007.
 
While the bigger banks benefited greatly from the various programs launched by the government, many smaller banks are still weak. Tumbling home prices, soaring loan … [visit site to read more]

Forex Trading: EURUSD Resumes Upside Move. 1.2833 And Then 1.2854 The Next Targets

Posted: 13 Sep 2010 05:53 AM PDT

Consumer Sovereignty By Daily Marketplace Ballot

Posted: 13 Sep 2010 05:35 AM PDT

1. “When we call a capitalist society a consumers' democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers' ballot, held daily in the marketplace."

~Ludwig von Mises in “Socialism: An Economic and Sociological Analysis,” 1951, page 21. 

2. "Consumers are the kings and queens of the market economy, and ultimately they reign supreme over corporations and their … [visit site to read more]

Searching For Yield: At Any Cost?

Posted: 13 Sep 2010 05:16 AM PDT

In an environment with historically low interest rates, fixed income investors have been pouring money into longer-duration securities, substituting 3 and 6 month T-Bills with 10-year Treasures or bond funds. To an extent, this should not be so surprising: the Federal Reserve's (the Fed) extraordinary monetary policies have resulted in extremely low yields at the short end of the yield curve. Investors seeking yield have been forced out the yield curve or into increasingly risky investments … [visit site to read more]

China Has $15 Trillion In Home Equity While The US Has $15 Trillion In Mortgage Debt

Posted: 13 Sep 2010 05:05 AM PDT

Current United States home mortgage debt: $15 trillion. Current China home equity: $15 trillion. Mortgage debt on those homes? Zero. It is easy to suggest that this insight, which reveals a $30 trillion spread between U.S. home mortgage debt and Chinese home equity, better enables us to grasp the underlying forces impacting the economic power shift we are seeing from West to East. While it might be in vogue these days to criticize the United States for being built on a mountain of debt, I'd … [visit site to read more]

Is Now The Time To Short The US Dollar?

Posted: 13 Sep 2010 04:30 AM PDT

The dollar is going to be the key to virtually all markets. If it continues down it’s going to act to support asset prices. Well at least initially. At some point we are going to see the decline become unruly and the Fed’s efforts to prop up asset prices will have serious unintended consequences. Namely, surging inflation. Which is already starting to show up in China, India and many emerging markets.

On a cyclical basis if the dollar drops below 81.80 it will mark a failed daily … [visit site to read more]

Swiss Producer & Import Prices Tops Expectations In August

Posted: 13 Sep 2010 04:30 AM PDT

                       

Fundamental Headlines
• Banks Get New Restraints on Capital– Wall Street Journal
• Waning Recovery Fuels Uncertainty – Wall Street Journal
• Basel Sets Banks New Capital Rules – Financial Times
•Stocks, U.S. Futures Rise on Economic Confidence; Bonds Drop, Banks Gain – Bloomberg
• European Economy to Grow Twice as Forecast This Year, EU … [visit site to read more]

Be Mindful Of The Risk Of Inflation Says Norman Raschkowan, North American Strategist For Mackenzie Investments

Posted: 13 Sep 2010 04:04 AM PDT

This past summer has taken investors on a roller coaster of a ride with capital markets rising and falling so much, it's no wonder investors are feeling queasy. Mixed economic data may be stoking fears of a "double dip" recession, but one North American strategist, says that while there will be an extended period of moderate economic growth, the chances are slim we'll see another actual recession hit.
He reasons that China's recent credit tightening doesn't immediately imply doom. … [visit site to read more]
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