Wednesday, September 15, 2010

Daily Markets - Shell Eyes Chinese Gas Ventures

Daily Markets - Shell Eyes Chinese Gas Ventures

Shell Eyes Chinese Gas Ventures

Posted: 15 Sep 2010 09:35 AM PDT

Royal Dutch Shell plc (RDS.A) is likely to invest $1 billion per year in next few years for commercial gas production in China, as said by the company's chief financial officer in an interview session in Tianjin, China.
 
The contribution of natural gas to China's total energy demand is expected to increase to 10% from the current 4% in a decade. Consequently, the European oil giant is looking forward to a joint initiative with PetroChina Co. (NYSE:PTR), China's largest oil company, to … [visit site to read more]

Jacobs’ Defense Contract

Posted: 15 Sep 2010 09:35 AM PDT

Jacobs Engineering Group Inc. (NYSE:JEC) has won a $3.4 million one-year contract from the United States Army TACOM Life Cycle Management Command (LCMC) in Warren, Mich. The contract can be extended upto three years and is worth $10.6 million.
 
According to the contact, Jacobs will be offering support to the Program Manager Heavy Brigade Combat Team (PM HBCT) with its integrated logistics services, fielding services, new equipment training, total package fielding services, electronic and … [visit site to read more]

Sales Dpopped At Sonic

Posted: 15 Sep 2010 09:35 AM PDT

Oklahoma-based Sonic Corp. (NASDAQ:SONC) announced its preliminary sales results for the fourth quarter and fiscal year 2010. Same store sales dropped 6.4% for the system, within the company's guided range of a decline of 4% to 8%. Company-owned drive-ins fell 6.1%.
 
During fourth quarter, the company's drive-in openings totaled 25 (24 by franchisees). However, franchise openings in the year slipped from 130 in 2009 to 80 in 2010 (lower-end of the guided range of 80-85) due to a … [visit site to read more]

Manulife Financial Prices Notes

Posted: 15 Sep 2010 09:05 AM PDT

Manulife Financial Corporation (NYSE:MFC) has priced its public offer of two series of senior notes aggregating $1.1 billion–$600 million of 3.40% senior notes due 2015 and $500 million of 4.90% senior notes due 2020.
 
Manulife Financial is offering the 3.40% senior notes at 99.854% of face value and 4.90% senior notes at 99.844% of face value.
 
The company intends to use the net proceeds from the sale of the notes for general corporate purposes, including investments in its … [visit site to read more]

Bank Of Japan Inflicts Flesh Wound With Yen Sales

Posted: 15 Sep 2010 08:44 AM PDT

The battle lines dividing the Bank of Japan from speculators driving the yen skyward have been drawn. For the first time in 15 years the yen yesterday dipped beneath ¥83.00 against the dollar serving to prod the authorities into action. The yen slumped to ¥85.52 as the central bank caused a painful resolve to those hell bent on pushing the yen higher. The Nikkei newspaper suggests the Bank sold ¥100 billion while the Wall Street Journal says it hears the amount was three times that … [visit site to read more]

Why Further Stimulus Won’t Help Unemployment, And Why Politicians Ignore That

Posted: 15 Sep 2010 08:38 AM PDT

Every time I hear a politician or economist call for more stimulus to create jobs I just shake my head and wonder, do these people really not understand what is happening in the jobs market? Do they really not understand that government can’t create prosperity? All governments can do is steal (tax) money from it’s citizens and throw it away on nonproductive make work jobs.

Seriously how does it help the country to tax a productive citizen and then use that money to pay another citizen to dig … [visit site to read more]

Yum! Hikes Dividend

Posted: 15 Sep 2010 08:35 AM PDT

Kentucky-based Yum! Brands Inc. (NYSE:YUM) recently announced its decision to hike quarterly dividend by 4 cents to 25 cents per share. This translates into a 19.0% increase from the prior dividend. The increased dividend will be paid on November 5, 2010, to stockholders of record on October 15, 2010. This represents the sixth consecutive annual increase in dividend paid by Yum! Brands since its inception in 2004 and brings the forward annual dividend yield as of September 14, 2010, to … [visit site to read more]

Ventas Stays Neutral

Posted: 15 Sep 2010 08:35 AM PDT

We maintain our Neutral rating on Ventas Inc. (NYSE:VTR), a leading healthcare real estate investment trust (REIT) with a portfolio of 600 healthcare-related facilities strategically located in 44 states across the U.S. and two Canadian provinces.
Ventas is one of the top-performing healthcare REITs in the U.S., having one of the largest and most diversified portfolios in the healthcare sector with exposure to nearly all types of facilities. The product diversity of the company allows it to … [visit site to read more]

AGNC Declares Dividend

Posted: 15 Sep 2010 08:35 AM PDT

American Capital Agency Corp. (NASDAQ:AGNC), a leading real estate investment trust (REIT), has recently declared a third quarter cash dividend of $1.40 per share. American Capital Agency is one of only a few companies to have increased its dividend during the economic downturn. The current payout equates to a total of $11.86 per share in dividends since its initial public offering in May 2008.

American Capital Agency invests only in fixed-rate agency securities where payments are guaranteed by … [visit site to read more]

Traders Flock To The “Dollars From Down Under”!

Posted: 15 Sep 2010 08:14 AM PDT

Fundamentals
Currency bulls are heading to the “land down under”, as the Australian Dollar has rallied to its highest levels since April vs. the US Dollar on signs of improving economic data, as well as an end to the uncertainty surrounding the formation of a new collation government. Prime Minister Julia Gillard was able to finally put together a collation government, after recent election results left neither Ms. Gillard’s Labor Party nor the opposition Liberal /National Coalition led by Mr. … [visit site to read more]

VOLC Plunges Following Notes Offer

Posted: 15 Sep 2010 08:12 AM PDT

Volcano Corporation (NASDAQ:VOLC) is offering $100 million of 2.875% convertible senior notes due September 1, 2015. In addition, the underwriter has an option to purchase up to $15 million of additional notes. The initial conversion rate of 33.7339 shares per $1,000 of notes works out to a conversion price of $29.64 per share, 27.5% higher than the closing price of the stock yesterday. Following this announcement, in anticipation of higher interest expense and shareholder dilution, shares of … [visit site to read more]
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