Daily Markets - Hotel Industry Improves For 13th Straight Week
Daily Markets - Hotel Industry Improves For 13th Straight Week |
- Hotel Industry Improves For 13th Straight Week
- Earnings Preview: The First Of The Third
- Limited Brands Sustains Momentum
- OMAB: Marginal Traffic Growth
- POSCO Upgraded To Neutral
- MannKind Evenly Poised
- Verifone Acquires Semtek
- Goldman Fined $27M By UK Authority
- Video Game Sales Decline In August
- Embraer Upgraded To Neutral
- Bayer Signs Deal With Kythera
- Murphy Oil Expands Acreage
- Lumber Futures Extend Rally To A Three-Month High On Positive Outlook For The U.S. Economy
- Adjusted For Vehicle Miles, Highway Deaths In 2009 Were The Lowest Ever Recorded, Back To 1921
- Quote Of The Day
- There’s One Thing We Can Always Count On In The Long-Run: 2% Growth In Per-Captia Real GDP
| Hotel Industry Improves For 13th Straight Week Posted: 10 Sep 2010 04:45 PM PDT HENDERSONVILLE, Tennessee – “The U.S. hotel industry reported increases in all three key performance metrics during the week of 29 August-4 September 2010, according to data from STR. In year-over-year comparisons, occupancy increased 7.5 percent to 57.4 percent, average daily rate (ADR) was up 2.1 percent to $94.37, and revenue per available room rose 9.7 percent to $54.16. This was the 13th consecutive week the U.S. reported overall ADR increases. Before this trend emerged, ADR in … [visit site to read more]
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| Earnings Preview: The First Of The Third Posted: 10 Sep 2010 02:35 PM PDT Earnings Preview 9/10/10 The second quarter earning season is over, and now we are getting the first of the third quarter. We define any fiscal period ending in August, September and October to be the third quarter. Still, we are just talking about a trickle of reports, just a total of 47 companies will report. However, that includes six from the S&P 500, including Oracle (NASDAQ:ORCL), Federal Express (NYSE:FDX), Discover Financial (NYSE:DFS), Pall Corp (NYSE:PLL), Kroger's (NYSE:KR) and Best Buy … [visit site to read more]
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| Limited Brands Sustains Momentum Posted: 10 Sep 2010 02:35 PM PDT Limited Brands, Inc. (LTD), a specialty retailer of women's intimate and other apparel, beauty and personal care products, recently posted better-than-expected sales results for the four-week period ended August 28, 2010. The owner of the Victoria’s Secret and Bath & Body Works chains sustained its growth momentum. Limited Brands' comparable-store sales for August 2010 rose 10%, following an increase of 12% registered in July 2010, reflecting a sharp improvement from a decline of 4% … [visit site to read more]
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| Posted: 10 Sep 2010 02:35 PM PDT Mexican airport operator, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) has released its passenger traffic data for August 2010. During August, total passenger traffic grew 5.2% year over year with increases of 4.2% in domestic traffic and 11.7% in international traffic. During July 2010, total passenger traffic grew 4.6% year over year with 2.2% and 20.8% increases in domestic and international traffic, respectively. The increase in passenger traffic was driven primarily by … [visit site to read more]
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| Posted: 10 Sep 2010 02:05 PM PDT We recently upgraded our rating for the South Korean steelmaker POSCO (PKX) from Underperform to Neutral considering the benefits expected from the company's wide regional diversification and higher proportion of value-added products in its product mix. We believe the company stands well positioned to leverage from its recent acquisitions and expansion into international markets. Second Quarter Highlights POSCO reported encouraging financial results for the second quarter of 2010, with net … [visit site to read more]
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| Posted: 10 Sep 2010 02:05 PM PDT We are maintaining our Neutral recommendation on MannKind Corporation (MNKD) with a target price of $6.25. MannKind is a Valencia, California-based biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes, cancer and inflammatory and autoimmune diseases. The company's lead pipeline candidate, Afrezza, is inhaled insulin for the treatment of type I and type II diabetes. MannKind filed a New Drug Application (NDA) for Afrezza … [visit site to read more]
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| Posted: 10 Sep 2010 01:35 PM PDT VeriFone Systems, Inc. (PAY) announced that it has acquired encryption leader Semtek for $18 million in a move to deliver end-to-end encryption solutions. In October 2007, VeriFone made an initial equity investment in Semtek. In April 2008, VeriFone introduced VeriShield Protect, the first commercial offering of end-to-end encryption for payments, which incorporated Semtek technology. VeriShield Protect has since been implemented across VeriFone’s product line. This patented technology … [visit site to read more]
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| Goldman Fined $27M By UK Authority Posted: 10 Sep 2010 01:35 PM PDT Goldman Sachs Group Inc. (NYSE:GS) has been fined £17.5 million ($27 million) for its failure to comply with the principles of the U.K. Financial Services Authority (FSA). FSA has fined Goldman's London-based unit Goldman Sachs International for not satisfying UK regulatory reporting obligations. Goldman Sachs International failed to disclose to the U.K. authorities about the scrutiny being carried out by the U.S. Securities and Exchange Commission (SEC) on one of its London-based executives … [visit site to read more]
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| Video Game Sales Decline In August Posted: 10 Sep 2010 01:05 PM PDT Following flat sales in the month of July, video game sales plunged in August, according to market research firm NPD Group. NPD does not include sales from PC games in its monthly game sales data. Overall US revenues decreased 10.0% year over year to $818.9 million, in sync with analysts' expectations. Overall revenue dipped from $846.5 million in July and $1.1 billion in June. This was the worst performance recorded in August since 2006. Industry sales in the US are down 8%, year to … [visit site to read more]
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| Posted: 10 Sep 2010 01:05 PM PDT We upgrade our recommendation on Empresa Brasileira de Aeronautica S.A., aka Embraer (ERJ), from Underperform to Neutral based on the decent results the company recorded during the second quarter of fiscal 2010. During the quarter, EPADS was $0.39, an increase from $0.37 in the year-ago quarter. Net income was $70.3 million, up 3.7% from $67.8 million in the second quarter of 2009, driven by lower currency exchange loss attributable to the gradual market recovery. The positive change in … [visit site to read more]
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| Posted: 10 Sep 2010 12:35 PM PDT Bayer AG (BAYRY) and Kythera Biopharmaceuticals Inc. recently entered into a licensing deal whereby the latter will grant ex-US and Canada rights of its lead product ATX-101 to Intendis, the dermatology wing of Bayer. ATX-101 is currently being evaluated for the reduction of localized fat under the chin (submental fat).
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| Posted: 10 Sep 2010 12:35 PM PDT In a process to enhance its resource acreage, oil and gas company Murphy Oil Corporation (NYSE:MUR) announced that its subsidiary, Murphy Oil Company Ltd., has entered into an agreement with Kainaiwa Resources Inc., a corporation wholly owned by the Blood Tribe First Nation. The agreement entails the acquisition of 129,280 acres of prospective oil and gas properties located within the Blood Tribe Reserve in southern Alberta, Canada.
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| Lumber Futures Extend Rally To A Three-Month High On Positive Outlook For The U.S. Economy Posted: 10 Sep 2010 12:25 PM PDT BLOOMBERG — “Lumber prices climbed, extending a rally to a three-month high, on signs of optimism in the U.S. economy (see chart above, data here). U.S. wholesale inventories rose in July by the most in two years as a rebound in demand spurred companies to add to stockpiles, Commerce Department data showed. The amount of goods on hand compared with sales indicated that manufacturing gains will be sustained in coming months. Lumber soared as much as 6 percent after jumping the most allowed in … [visit site to read more]
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| Adjusted For Vehicle Miles, Highway Deaths In 2009 Were The Lowest Ever Recorded, Back To 1921 Posted: 10 Sep 2010 11:55 AM PDT “U.S. Transportation Secretary Ray LaHood yesterday released updated 2009 fatality and injury data showing that highway deaths fell to 33,808 for the year, the lowest number since 1950 (see top chart above). The record-breaking decline in traffic fatalities occurred even while estimated vehicle miles traveled in 2009 increased by 0.2 percent over 2008 levels. In addition, 2009 saw the lowest fatality and injury rates ever recorded: 1.13 deaths per 100 million vehicle miles traveled in … [visit site to read more]
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| Posted: 10 Sep 2010 11:34 AM PDT “A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses between life and death. A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.” Ludwig von Mises writing … [visit site to read more]
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| There’s One Thing We Can Always Count On In The Long-Run: 2% Growth In Per-Captia Real GDP Posted: 10 Sep 2010 11:20 AM PDT Over the last 200 years going back to 1809, the chart above shows that the growth in real GDP per capita in the U.S. has been amazingly constant at an average of 2% year, with fluctuations around that long-term secular trend. The National Bureau of Economic Research has documented 33 recessions since 1857, including a few major ones that are easily identifiable in the chart above: a) three severe contractions in the 1865-1880 period following the … [visit site to read more]
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