Daily Markets - Has The Fed Run Out Of Ammunition To Resuscitate The U.S. Economy? |
- Has The Fed Run Out Of Ammunition To Resuscitate The U.S. Economy?
- The Real Lesson Of Labor Day
- Cepheid’s TB Test Shows Promise
- Not Buying ‘the Light At The End Of The Tunnel’ Scenario
- New Contract Lifts Air Products
- Goldcorp Heading For Andean
- Krispy Kreme Beats, Raises Outlook
- August Employment Report
- August Employment Report (Part 2)
- Petrobras Inks Oil-for-Shares Deal
- Synopsys Wraps Up Virage Deal
- Earnings Scorecard: Medtronic
- Microchip Remains Outperform
- H&R Block Beats Zacks Consensus
- Oil Tumbles As Speculative Interest Drops, Gold Curbed By Quiet Confidence
- Atheros Completes Opulan Acquisition
- Applied DNA Initiated At Outperform
- Cooper Profit Grows, Lifts View
- LUK Takes Fortescue To Court
- Praxair Rejects CADE Allegations
- Boeing Dreams Big
- Pat Dorsey: Competitive Advantages For Superior Companies
| Has The Fed Run Out Of Ammunition To Resuscitate The U.S. Economy? Posted: 03 Sep 2010 06:01 PM PDT Over the past several years, the Federal Reserve and the U.S. government have tried everything that they can think of to stimulate this dead horse of an economy but nothing has worked. The Fed has slashed the federal funds rate to record low levels, mortgage rates have been pushed to all-time lows and the U.S. government has spent hundreds of billions of dollars in an effort to get the economy going. But despite all these of these extraordinary efforts, the U.S. economy continues to … [visit site to read more]
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| Posted: 03 Sep 2010 04:41 PM PDT Welcome to the worst Labor Day in the memory of most Americans. Organized labor is down to about 7 percent of the private work force. Members of non-organized labor — most of the rest of us — are unemployed, underemployed or underwater. The Labor Department reported on Friday that just 67,000 new private-sector jobs were created in August, which, when added to the loss of public-sector (mostly temporary Census worker jobs) resulted in a net loss of over 50,000 jobs for the month. But at … [visit site to read more]
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| Cepheid’s TB Test Shows Promise Posted: 03 Sep 2010 03:05 PM PDT A study regarding Cepheid's (NASDAQ:CPHD) Xpert MTB/RIF test, which is meant for the detection of tuberculosis (TB), was published in the latest edition of the New England Journal of Medicine. The study was aimed at comparing the sensitivity and specificity of the Xpert MTB/RIF with the standard currently used. Apart from the detection of TB, the study is also meant to identify if the disease is resistant to rifampin, a first-line drug used for the treatment. The study was conducted with 1,730 TB … [visit site to read more]
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| Not Buying ‘the Light At The End Of The Tunnel’ Scenario Posted: 03 Sep 2010 02:59 PM PDT I’ve highlighted news and other reports indicating that conditions on Main Street are far worse than your average Wall Streeter believes they are. Interestingly enough, even those who are ostensibly benefiting from the bullish-Kool-Aid-induced euphoria that’s keeping share prices afloat are pessimistic about the outlook.
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| New Contract Lifts Air Products Posted: 03 Sep 2010 02:35 PM PDT Shares of Air Products and Chemicals Inc. (NYSE:APD) advanced 3.26% or $2.44 and closed at $77.19 on September 2, 2010 after the announcement that the company has won a 15-year contract. Under the contract, Air Products will supply an onsite air separation unit to Voronezhsintezkauchuk, an affiliate of SIBUR, which is a leading petrochemical company in Russia and Eastern Europe. The air separation unit is scheduled to come on stream in 2012 with a capacity up to 3,000 cubic meters per hour of … [visit site to read more]
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| Posted: 03 Sep 2010 02:35 PM PDT Goldcorp Inc. (NYSE:GG), the leading Canadian gold producer is acquiring the Australian gold miner Andean Resources Ltd for a total consideration of C$3.6 billion (US $3.4 billion) along with its key assets including Cerro Negro gold project in Argentina. Currently, the company has resources of 2.54 million ounces of gold and 23.56 million ounces of silver. Goldcorp believes that the acquisition of Cerro Negro that has substantial expansion potential would compliment its high-growth and a low-cost … [visit site to read more]
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| Krispy Kreme Beats, Raises Outlook Posted: 03 Sep 2010 02:05 PM PDT Krispy Kreme Doughnuts Inc.'s (KKD) second quarter fiscal 2011 earnings were 3 cents per share, which outdid the Zacks Consensus Estimate of zero per share. The company also reported profit of $2.2 million compared to a loss of $0.16 million posted in the prior-year quarter. The better-than-expected results were driven by a growth in the top line.
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| Posted: 03 Sep 2010 02:05 PM PDT It looks like Labor might actually have something to celebrate this Labor Day. OK, the celebration will not be with champagne — more like with Budweiser — but they still got something to cheer about in today's employment report. While the unemployment rate did tick up to 9.6% from the 9.5% level it was at in both July and June, that increase was due to more people entering the labor force — a reversal of the recent trend towards a declining civilian participation rate. The total number of … [visit site to read more]
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| August Employment Report (Part 2) Posted: 03 Sep 2010 02:05 PM PDT 4 Different Lengths of Unemployment The census bureau tracks four different groups by length of unemployment. The short-term unemployed are those that have been out of work for less than five weeks (blue line). Almost always this is the largest group of the unemployed. The next biggest group is usually those that have been out of work between five and 14 weeks (red line). Being out of work for a month is really not that big a deal, but as the joblessness stretches on it becomes a bigger and … [visit site to read more]
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| Petrobras Inks Oil-for-Shares Deal Posted: 03 Sep 2010 02:05 PM PDT Brazil’s state-run oil company, Petrobras (PBR) and the Brazilian government agreed to an oil-for-shares swap deal. As per the deal, Petrobras agreed to pay the Government $42.5 billion in new stock for the right to develop 5 billion barrels of offshore oil reserves.
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| Posted: 03 Sep 2010 01:35 PM PDT Electronic design automation (EDA) software company Synopsys Inc. (NASDAQ:SNPS) recently completed the acquisition of Virage Logic Corp. (NASDAQ:VIRL) for $12 per share. The total consideration of the deal came in at approximately $315.0 million. Virage Logic's business is expected to integrate easily with Synopsys, as the former provides semiconductor intellectual property (IP) for the design of complex integrated circuits. In a way, this acquisition is expected to supplement Synopsys’ Designware … [visit site to read more]
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| Posted: 03 Sep 2010 01:35 PM PDT Subsequent to the announcement of Medtronic's (NYSE:MDT) first quarter fiscal 2011 results on Aug 24, 2010, majority of the analysts have lowered their estimates for the forthcoming period. First Quarter Highlights Medtronic began fiscal 2011 on a disappointing note. The company reported an adjusted EPS of 80 cents, which missed the Zacks Consensus Estimate by two cents but was a penny higher than the year-ago quarter. However, first quarter of fiscal 2010 included an extra week, which had a … [visit site to read more]
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| Posted: 03 Sep 2010 01:05 PM PDT Following robust earnings in its latest quarter, we have reiterated our Outperform recommendation on Microchip Technology Inc. (NASDAQ:MCHP). Microchip reported solid results for the first quarter of fiscal 2011 driven by broad-based growth across all geographical regions as well as the three product lines – Microcontrollers, Analog and Serial electrically erasable programmable read only memory products (EEPROMs). We believe the top-line has gained momentum at Microchip Technology … [visit site to read more]
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| H&R Block Beats Zacks Consensus Posted: 03 Sep 2010 01:05 PM PDT H&R Block's (NYSE:HRB) fiscal first-quarter loss from continuing operations came in at 36 cents per share, lower than the Zacks Consensus Estimate for a loss of 41 cents a share as well as the year-ago loss of 39 cents per share. Net loss from continuing operations for the quarter was $114.8 million versus a loss of $130.6 million reported in first-quarter 2010. Primarily, the realignment of field and support services announced in May along with share buyback helped the company to … [visit site to read more]
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| Oil Tumbles As Speculative Interest Drops, Gold Curbed By Quiet Confidence Posted: 03 Sep 2010 01:01 PM PDT North American Commodity Update
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| Atheros Completes Opulan Acquisition Posted: 03 Sep 2010 12:35 PM PDT Atheros Communications Inc. (NASDAQ:ATHR) announced that it has completed the previously announced acquisition of privately-held Opulan Technologies Corp. for approximately $72 million. Atheros might pay additional cash to shareholders in the coming twelve months only if Opulan meets certain business targets. California based Atheros develops semiconductor system solutions for communication products. Its products include solutions for wireless local area network (WLAN), mobile WLAN, Ethernet, … [visit site to read more]
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| Applied DNA Initiated At Outperform Posted: 03 Sep 2010 12:35 PM PDT Unique Anti-Counterfeiting Technology Applied DNA Sciences, Inc. (APDN) is a biotech company engaged in the research, development and commercialization of botanical-DNA based security and authentication solutions that can help protect the products, brands and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. The company has authentication labs and manufacturing facilities in Stony Brook, New York and Huddersfield, Yorkshire, … [visit site to read more]
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| Cooper Profit Grows, Lifts View Posted: 03 Sep 2010 12:35 PM PDT Eye-care and surgical product maker Cooper Companies Inc. (NYSE:COO) reported better-than-expected third-quarter fiscal 2010 (ended July 31, 2010) results with adjusted earnings per share of 91 cents outshining the Zacks Consensus Estimate of 71 cents and the year-ago earnings of 54 cents. Adjusted earnings exclude litigation settlement charges, restructuring costs and acquisition expenses. Net profit zoomed 81% year-over-year to $39.7 million (or 86 cents a share) boosted by healthy performance … [visit site to read more]
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| Posted: 03 Sep 2010 12:05 PM PDT Leucadia National Corporation (NYSE:LUK) sued Fortescue Metals Group Ltd., an Australian iron-ore miner, its subsidiary Chichester Metals Pty Ltd., and Andrew Forrest, its CEO in an effort to stop them from raising more funds through an issue of additional subordinated notes.
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| Praxair Rejects CADE Allegations Posted: 03 Sep 2010 12:05 PM PDT Praxair Inc.'s (NYSE:PX) Brazilian subsidiary, White Martins was fined R$2.2 billion (US$1.3 billion) by the Brazilian Administrative Council for Economic Defense (CADE) for its alleged anticompetitive activity in Brazil. Apart from Praxair, the council imposed fines on four other industrial gas companies in Brazil .
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| Posted: 03 Sep 2010 12:05 PM PDT Boeing Company (NYSE:BA), with a steady recovery in the U.S. and Canadian economies, dreams big for its commercial airlines business. The bullishness was reflected in Boeing’s 2010 North America (U.S. and Canada) market outlook forecast on September 2, 2010. Boeing forecasts that air carriers in North America will take delivery of about 7,200 new airplanes over the next 20 years at an investment of $700 billion. Paradigm Shift Boeing forecast a paradigm shift to the fortunes of the U.S. and … [visit site to read more]
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| Pat Dorsey: Competitive Advantages For Superior Companies Posted: 03 Sep 2010 11:56 AM PDT Pat Dorsey, CFA, is Director of Equity Research at Morningstar, Inc. He played an integral part in the development of the Morningstar Rating for stocks, as well as Morningstar's economic moat ratings. Dorsey is also the author of three excellent books;The Five Rules for Successful Stock Investing:, and The Little Book That Builds Wealth.Heholds a master's degree in political science from Northwestern University and a bachelor's degree in government from Wesleyan … [visit site to read more]
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