Thursday, September 16, 2010

Daily Markets - IBM Acquires OpenPages

Daily Markets - IBM Acquires OpenPages

IBM Acquires OpenPages

Posted: 16 Sep 2010 12:05 PM PDT

International Business Machines Corp. (NYSE:IBM) continued its acquisition spree, with the latest candidate being privately held software company OpenPages. Terms of the deal were not disclosed.
 
Based in Waltham, Massachusetts, OpenPages develops risk and compliance management software. According to IBM management, the deal will expand its business analytics division. Since May 2010, IBM has acquired two analytics company, OpenPages being the second one. It had previously acquired Sterling … [visit site to read more]

Safeway Downgraded To Underperform

Posted: 16 Sep 2010 12:05 PM PDT

Recently, we downgraded Safeway (NYSE:SWY) to Underperform with a target price of $19.00.
 
We note that the environment for the retail industry is quite challenging. Consumer spending on durable products has, consequently, been very weak. This is evident from the decline in non-fuel identical (ID) store sales growth. The company expects non-fuel ID store sales growth of -1% to -1.5% in 2010. Although the company did witness a marginal recovery in volume during the latest reported quarter … [visit site to read more]

Edwards’ Trial Results Expected

Posted: 16 Sep 2010 11:35 AM PDT

Edwards Lifesciences Corporation (NYSE:EW), one of the leading players in heart valves and hemodynamic monitoring, is expected to announce results from the PARTNER trial cohort B at the upcoming Transcatheter Cardiovascular Therapeutics on September 23. Heart valve therapy accounted for 59% of total revenue in the second quarter of fiscal 2010. Contribution from this segment has increased steadily over the past, from 47% in 2007 to 54% in 2009.
Edwards has developed transcatheter heart valve … [visit site to read more]

PPL Corp. To Close E.ON Buy In Oct.

Posted: 16 Sep 2010 11:05 AM PDT

PPL Corporation (NYSE:PPL) moved a step closer to completing the proposed E.ON U.S. LLC acquisition. Yesterday, PPL Corp. and E.ON U.S. LLC announced that they have successfully settled the allegations of the two parties who prevented the Federal Energy Regulatory Commission's (FERC) approval of PPL’s acquisition of E.ON U.S.
 
The settlement resolved the concerns raised by the two parties – American Municipal Power and Kentucky Municipals. Both have subsequently withdrawn their … [visit site to read more]

JDS Uniphase Wins LTE Contract

Posted: 16 Sep 2010 11:05 AM PDT

JDS Uniphase Corp. (NASDAQ:JDSU) today received a shot in the arm with a new contract for the next-generation (4G) Long Term Evolution (LTE) network. Chunghwa Telecom Co. Ltd. (NYSE:CHT), the largest integrated telecom operator in Taiwan, has decided to use Signaling Analyzer Real Time of JDS Uniphase for its impending LTE trial runs. Chunghwa decided to implement LTE in 2011 in Taiwan.
 
Emerging LTE network becomes a major growth driver for JDS Uniphase. The first ever super-fast LTE network … [visit site to read more]

Gerdau To Acquire TAMCO

Posted: 16 Sep 2010 10:35 AM PDT

Brazilian steel producer Gerdau S.A.'s (NYSE:GGB) wholly-owned subsidiary Gerdau Ameristeel entered into a definitive agreement with Ameron International, Tokyo Steel and Mitsui & Co. (U.S.A.) to acquire all the
issued and outstanding shares of TAMCO in a cash transaction worth approximately US$165 million.
Subject to regulatory and customary closing conditions, the company expects to consummate the transaction in the fourth quarter of 2010. California-based mini steel producer, TAMCO, will … [visit site to read more]

Foster Wheeler Expands Business

Posted: 16 Sep 2010 10:35 AM PDT

The Global Power Group of Foster Wheeler AG (NASDAQ:FWLT) established two new service centers in Germany and Finland, thus expanding its power boiler service business in these countries. The power plants, in proximity to the service centers, will have access to auxiliary parts, boiler pressure vessel gears and boiler modernization equipments.
 
The service centers of Foster Wheeler provide services to all type of power boilers, i.e. of any brand or model. The new centers will be providing … [visit site to read more]

Stock Options Plays For Thursday: ConAgra Foods, Williams Companies, P.F. Chang’s China Bistro, SAIC

Posted: 16 Sep 2010 10:10 AM PDT

Williams Companies, Inc. (NYSE:WMB) – A large-volume long strangle initiated natural gas producer, Williams Companies, suggests one options strategist is expecting the price of the underlying stock to shift significantly head of expiration in January 2011. Williams' shares are down 4.00% to arrive at $18.34 as of 11:45 am ET. The stock has been volatile throughout the morning, falling as much as 5.025% to an intraday low of $18.14 at the start of the session, and later recovering the … [visit site to read more]

Euro Kicks The US Dollar Out Of Bed

Posted: 16 Sep 2010 10:06 AM PDT

A slump in the dollar this morning seems largely confined to a gain for the single European unit. The British pound has nevertheless made gains against the greenback despite a further sign of impending slowdown. Few dealers appear to want to be the first to prod the Bank of Japan into a second wave of intervention. According to further analysis in the aftermath of Wednesday's initial round of yen sales, the central bank sold far more yen than was initially realized at the time.

U.S. … [visit site to read more]

Jobless Benefit Rolls Plunge

Posted: 16 Sep 2010 10:05 AM PDT

Initial Claims for Unemployment Insurance fell to 450,000, a drop of 3,000 from last week. That is good news, but only in terms of the direction. After several weeks in a row of new claims shooting higher, the upward momentum has been reversed, with four straight weeks of declines.

But initial claims remain far too high. The four-week moving average fell by 13,500 to 464,750. After falling sharply in the second half of last year, the four-week moving average had seemed to be trapped in a tight … [visit site to read more]

Skechers In Neutral Lane

Posted: 16 Sep 2010 10:05 AM PDT

We hold a Neutral recommendation on Skechers USA Inc. (NYSE:SKX) designer, marketer and distributor of footwear, with a target price of $24.00. Moreover, the Zacks #3 Rank, which translates into a short-term 'Hold' recommendation, correlates with our long-term view.
 
Skechers' sustained focus on a new line of products, opening of new retail stores and distribution channels, and the development of new international distribution agreements (in India and Mexico), should facilitate the … [visit site to read more]

Producer Price Index Up 0.4%

Posted: 16 Sep 2010 10:05 AM PDT

The Producer Price Index (PPI) for finished goods rose at a slightly higher-than-expected rate of 0.4% in August on a headline basis. The consensus had been looking for a 0.3% increase. Stripping out the volatile food and energy prices, the core PPI rose just 0.1%, in line with expectations.

In July, headline prices rose 0.2%, but in June they fell 0.5%. Core inflation was 0.3% in July and 0.1% in June. Relative to a year ago, headline PPI is up 3.1%, and the core PPI is up 1.9%.

Most of the … [visit site to read more]

Valero Raises Capex For 2011

Posted: 16 Sep 2010 10:05 AM PDT

Valero Energy Corp. (NYSE:VLO) has increased its capital spending budget by $300 million for 2011 from this year's budget of $2.3 billion. The company said this in a slide presentation filed with the U.S. Securities and Exchange Commission. Valero also gave hints of pre-tax $100 million savings this year, through cost-cutting measures.
 
We appreciate the largest independent refiner's continued focus on reducing costs and improving operating efficiency, which will significantly improve … [visit site to read more]

GameStop Boosts Return

Posted: 16 Sep 2010 09:35 AM PDT

GameStop Corporation (NYSE:GME), the video game and entertainment software retailer, recently notified that its board of directors has authorized an additional repurchase of about $500 million, of which $300 million will be utilized to repurchase shares and $200 million will be spent to buy back Senior Notes in order to lower its debt level.
 
This share repurchase program follows a buyback program of $300 million announced in January 2010 and exhausted in second-quarter 2010. During the … [visit site to read more]

Is Warren Buffett Going To Buy H&M?

Posted: 16 Sep 2010 09:22 AM PDT

By Magnus Andersson of http://fundamentalanalys.blogspot.com/
If Warren Buffett were ever to set his sights on the Stockholm Stock Exchange, very likely he would look at the Swedish apparel fashion giant H&M, a company that has succeeded for decades to combine high margins, very high return on equity and rising profits.
When analyzing H&M you can easily get that too-good-to-be-true feeling that makes you suspect it probably is. However, H&M is among a select few … [visit site to read more]

Railroads Under Congressional Review

Posted: 16 Sep 2010 09:05 AM PDT

In a recent report presented by the U.S. Senate Commerce Committee it is stated that the discretionary pricing power enjoyed by the Class I freight rail transport companies are putting excessive pressure on freight customers. The freight railroad operators are enjoying this pricing power since 1980 when the U.S. government adopted the Staggers Rail Act. The idea was to allow rail transporters to hike price on captive shippers like electric utilities, chemical and agricultural companies in … [visit site to read more]

Forex Trading: Euro Group’s Junker Says Yen Is Not Over Valued Against The Euro

Posted: 16 Sep 2010 08:48 AM PDT

He also noted that forex interventions "are fruitful only if … [visit site to read more]

Forex Trading: Eurogroups Juncker On The Newswires. EURJPY Remains Stable.

Posted: 16 Sep 2010 08:46 AM PDT

Juncker says "Yen is not overvalued versus the Euro".
The EURJPY is currently trading at the 112.15  level. This comment should pressure the EURJPY but so far there is a muted reaction.  This may be indicative of a market still short EURJPY.  Watch 112.31 on the … [visit site to read more]

Wyndham Issues Senior Notes

Posted: 16 Sep 2010 08:35 AM PDT

Wyndham Worldwide Corporation (NYSE:WYN) announced the pricing of $250 million unsecured senior notes. The senior notes bear an annual interest rate of 5.75% and will mature in eight years.  The interest will be paid semi annually on February 1 and August 1 of each year, commencing February 1, 2011. The senior note offering is expected to close by September 20, 2010.
 
The company plans to use the sale proceeds from the offering to finance outstanding debt and other corporate general … [visit site to read more]

Masimo Gets SpHb Clearance In Japan

Posted: 16 Sep 2010 08:35 AM PDT

Masimo Corporation (NASDAQ:MASI), a leading developer, manufacturer and seller of patient monitoring technologies, recently announced regulatory clearance for its non-invasive and continuous hemoglobin (SpHb) measurement from the Ministry of Health, Labor and Welfare (MHLW) of Japan.
 
SpHb is available as an integral part of the Masimo Rainbow SET technology platform. Its clearance by the MHLW ensures that this technology, which provides for real-time results, will become universally … [visit site to read more]

Forex Trading: USDCAD And AUDUSD Using 100 Hour MA As A Trading Borderline

Posted: 16 Sep 2010 08:34 AM PDT

AAR Corp. Posts Upbeat Results

Posted: 16 Sep 2010 08:21 AM PDT

AAR Corporation (NYSE:AIR) posted upbeat results for the first quarter of fiscal 2011 based on the huge leap in revenue from the Government and Defense Services attributable to the acquisition of Aviation Worldwide Services (AWS) in April 2010.
 
During the quarter, net income was $13.7 million or EPS of 35 cents, up 34.3% from the net income of $10.2 million or EPS of 27 cents in the corresponding period of fiscal 2010. Reported EPS beat the Zacks Consensus Estimate of 30 … [visit site to read more]

Apogee Short Of Estimates

Posted: 16 Sep 2010 08:21 AM PDT

Glass products dealer Apogee Enterprises Inc. (NASDAQ:APOG) announced second-quarter fiscal 2011 operating loss of 18 cents per share compared with operating earnings of 46 cents per share in the year-ago quarter. The operating loss per share in the reported quarter was wider than the Zacks Consensus Estimate of a loss of 10 cents.
 
On a GAAP basis, Apogee's earnings for the second quarter of 2011 broke even, compared with 47 cents per share recorded in the year-ago period. The difference … [visit site to read more]

Boots & Coots Approves HAL Deal

Posted: 16 Sep 2010 08:21 AM PDT

Halliburton Co. (NYSE:HAL) – one of the largest oilfield service providers in the world – has received approval from the shareholders of well-intervention firm Boots & Coots Inc. (WEL) to acquire the latter for about $240.4 million in stock and cash. More than 60% of Boots & Coots shareholders voted in favor of the transaction, which had already been approved by the boards of both the companies
 
As per the deal, Boots & Coots shareholders would get $1.73 in cash and $1.27 … [visit site to read more]

Australian Dollar: Under Pressure

Posted: 16 Sep 2010 08:19 AM PDT

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

Canadian Dollar: Under Pressure

Posted: 16 Sep 2010 08:19 AM PDT

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

Forex Trading: USDCHF Retraced To 38.2% Of The Days Range…

Posted: 16 Sep 2010 07:39 AM PDT

Support level at … [visit site to read more]

Forex Trading: EURJPY Breaks Above 100 Day MA Today At 111.68

Posted: 16 Sep 2010 07:21 AM PDT

Move above the 111.68 level today is bullish for the … [visit site to read more]
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