Friday, September 3, 2010

Daily Markets - Walter Projects Lower Sales In 2010

Daily Markets - Walter Projects Lower Sales In 2010

Walter Projects Lower Sales In 2010

Posted: 03 Sep 2010 11:35 AM PDT

Premier coal producer and exporter Walter Energy (NYSE:WLT) slashed its fiscal 2010 coking coal sales guidance to 7.2 – 7.5 million tons, from the previous guidance range of 7.7 – 7.9 million tons.  This lower guidance results from poorer expectations of coking coal production volumes in 2010.
 
Walter expects coking coal production volumes to total about 1.8 million tons in the third quarter of 2010 at nearly $60 per ton. The company is, however, maintaining its coking coal sales … [visit site to read more]

Honeywell Wins Contract

Posted: 03 Sep 2010 11:35 AM PDT

A group company of Honeywell International Inc. (NYSE:HON), UOP LLC, has been selected to provide its process technology for the conversion of biomass to transportation fuels in Rentech Inc.’s Rialto Renewable Energy Center.
UOP LLC is a worldwide leading provider of process technology used to transform petroleum feedstocks to fuels and chemicals and has even developed a variety of methods to create high-quality, drop-in green fuels from natural feedstocks.
UOP LLC's hydroprocessing technology … [visit site to read more]

VeriFone Acquires WAY Systems

Posted: 03 Sep 2010 11:05 AM PDT

VeriFone Systems Inc. (NYSE:PAY) recently announced its acquisition of the assets of WAY Systems Inc. for $6 million. The purchase price also includes an earn-out of up to an additional $3 million payable in one year subject to certain targeted performances.

Founded in 2002, WAY Systems provides mobile Point of Sale (POS) solutions and gateway services for mobile merchants. The company was founded by Bill Merton, founder of VeriFone, with initial seed capital and received an additional $50 … [visit site to read more]

WPP Group Upgraded

Posted: 03 Sep 2010 11:05 AM PDT

We have upgraded our rating for WPP Group Plc (NASDAQ:WPPGY) from Underperform to Neutral based on a positive outlook for the second half of 2010.
 
First Half 2010 Highlights
 
WPP Group plc's first half 2010 net results soared 48.1% year over year to ₤0.191 per share ($1.46 per ADR) compared with ₤0.129 per share ($0.96 per ADR) in the year-ago period – a marked improvement owing primarily to revenue growth and fall in operating expenses.
 
Net income (pro forma), … [visit site to read more]

Hot Stock Option Plays For Friday 3 September: Tyson Foods, The Blackstone Group, Collective Brands, SPDR S&P Retail ETF

Posted: 03 Sep 2010 10:44 AM PDT

Tyson Foods, Inc. (NYSE:TSN) - Call options on the food products company are a hot commodity this morning for bullish players positioning for a near-term rally in the price of the underlying shares. Tyson Foods’ shares rallied as much as 1.7% at the start of the session to an intraday high of $16.31. Shares of the producer and distributor of chicken, beef, pork, prepared foods and other products are perhaps higher following an upgrade to Ba2 from Ba3 by ratings agency, Moody’s Investors … [visit site to read more]

OMAB Begins New Terminal Operation

Posted: 03 Sep 2010 10:35 AM PDT

Mexican airport operator, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) began operation at its new Terminal B at Monterrey International Airport, where Aeromexico and Aeromexico Connect were the first to operate flights. Later in September, the company is expected to start Delta Airlines and Northwest.
 
The new terminal would definitely help increase passenger traffic as it has the capacity to accommodate approximately two million passengers annually and has platform for … [visit site to read more]

Allscripts Merges With Eclipsys

Posted: 03 Sep 2010 10:35 AM PDT

Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX), a leading vendor focused on healthcare information technology, has announced the completion of its merger with peer Eclipsys Corporation. The combined organization will focus on empowering providers collaborate through connected healthcare communities, thereby providing enhanced care and controlling cost.
 
Allscripts had adjusted revenues of about $1.2 billion in fiscal year 2009. It markets a composite offering of clinical, financial and … [visit site to read more]

MiFi Enters Comcast Network

Posted: 03 Sep 2010 10:05 AM PDT

Novatel Wireless Inc. (NASDAQ:NVTL) recently entered into a Master Purchase Agreement with Comcast Corp. (NASDAQ:CMCSA) through which the company will supply MiFi 2200 Intelligent Mobile Hotspots and Ovation MC760 USB modems to Comcast. At present, Comcast is rolling-out its 4G WiMAX-based High-Speed 2go network throughout the U.S. Both MiFi 2200 and MC760 are now commercially available through Comcast.
 
According to our view, launch of MiFi series of product in Comcast's network is a major … [visit site to read more]

Nabors’ Credit Facility Approved

Posted: 03 Sep 2010 10:05 AM PDT

Nabors Industries Ltd. (NYSE:NBR) announced that it has received the commitment letter regarding an unsecured revolving credit facility. The principal amount of the facility totals up to $700 million and will be valid for four years.
 
With the help of an accordion feature that also forms a part of the facility, Nabors will be able to add lenders and raise the aggregate principal amount up to $850 million. Based upon the company’s senior unsecured credit ratings, the interest margins … [visit site to read more]

Near-Term PC Growth Not Visible

Posted: 03 Sep 2010 10:05 AM PDT

Gartner's View

Research firm Gartner Inc. (NYSE:IT) lowered its worldwide personal computer (PC) growth expectations to 15.3% year over year in the second half of 2010, down 2 percentage points from its previous outlook.

Lower consumer demand for PCs in established or mature markets and caution at PC suppliers has led to a dramatic change in the PC supply chain. Gartner cited weak economic conditions in the U.S. and Western Europe as the reason for the softer PC shipment outlook.

According to … [visit site to read more]

Digital River Extends MSFT Deal

Posted: 03 Sep 2010 10:05 AM PDT

In a recent filing with the Securities and Exchange Commission (SEC), Digital River Inc. (NASDAQ:DRIV) stated that it has extended its e-commerce deal with Microsoft Corporation (NASDAQ:MSFT) through October 31, 2013. The agreement was originally scheduled to end in June 2012.
 
As per the new agreement, Digital River will build, host and manage an e-commerce store for Microsoft that will support the sale and fulfillment of Microsoft and third party software as well as consumer electronics products … [visit site to read more]

Owens-Illinois Buys Brazilian Co.

Posted: 03 Sep 2010 10:05 AM PDT

Owens-Illinois Inc. (NYSE:OI) increased it ambit in Brazil, South America's largest economy and container market, with the acquisition of Brazilian glassmaker Companhia Industrial de Vidros. The deal is valued at $603 million, which includes future tax benefits with an estimated present value of $140 million. These tax benefits include federal and state incentives for development of Brazil's northeastern region.
 
Companhia is a leading glass container producer in northeastern Brazil. … [visit site to read more]

Retailers Gain In August

Posted: 03 Sep 2010 10:05 AM PDT

The nation’s retailers have reported unexpectedly strong August sales numbers as back-to-school requirements kept shoppers from restraining their spending plans. Retailers posted strong results on the heels of solid traffic and sales, albeit backed by heavy promotion and discounting in the back-to-school season. Further, tax-free holidays also provided a boost to the overall sales of the retailers. Seventeen tax-free holidays during August lured shoppers to the malls.

Looking back to only a … [visit site to read more]

HP Wins 3PAR Bid, Dell Loses

Posted: 03 Sep 2010 10:05 AM PDT

After a long, drawn-out bidding battle with rival Dell Inc. (NASDAQ:DELL), Hewlett-Packard Co. (NYSE:HPQ) has managed to secure the 3PAR Inc. (PAR) acquisition.

Bidding wars are rare in the technology sector. In the last notable bidding war in the tech industry, EMC Corp. (NYSE:EMC) outbid NetApp Inc. (NASDAQ:NTAP) last year to buy Data Domain for $2.4 billion.

The bidding closed yesterday with Dell deciding not to top HP's highest offer. Dell will receive a breakup fee of $72 million as a result of the … [visit site to read more]

Vale Loses Paranapanema Bid

Posted: 03 Sep 2010 09:05 AM PDT

Brazil's largest miner, Vale S.A. (VALE), lost its bid at $6.75 per share to acquire the majority stake in Brazilian base metals and fertilizers holding company Paranapanema (PMAM3) on account of invalid tender. At R$6.75, Vale was able to attract only 38% of the shares, when it was supposed to pull 51% shares in order to make it valid.
 
However, Vale has been benefiting from a chain of small acquisitions. Recently, it acquired Corumbá iron ore mining operations from Rio Tinto for … [visit site to read more]

Kansas City Southern Raises Outlook

Posted: 03 Sep 2010 09:05 AM PDT

Kansas City Southern (NYSE:KSU), a leading rail transportation company in the U.S., Mexico, and Panama, has announced that its second half 2010 revenue will increase by nearly 20% year over year due to significant growth in freight volume. According to Kansas City Southern, performance with respect to carloadings in August was the best so far in 2010 and the second best in previous three years.
 
We believe improvement in business volumes, effective cost control measures, and solid pricing … [visit site to read more]

Verizon Ups Dividend, Concerns Remain

Posted: 03 Sep 2010 08:35 AM PDT

Verizon Communications (NYSE:VZ), the second largest U.S. phone company, raised its quarterly dividend by 2.6% to 48.75 cents per share. However, this is the smallest increase in four years due to slowing sales growth.
 
The dividend equates to $1.95 per share on an annualized basis, up from the $1.90 per share paid in August. Verizon will pay the increased dividend on November 1 to shareholders of record as of October 8.
 
Verizon remains committed to offer incremental returns to its … [visit site to read more]

BJ’s Posts Soft Sales

Posted: 03 Sep 2010 08:35 AM PDT

BJ's Wholesale Club Inc. (NYSE:BJ), a leading warehouse club operator in the United States, recently posted soft sales for the four-week period ended August 28, 2010. 
BJ's August & Year-to-date Sales Performance
 
After registering a growth of 2.8% in July 2010, BJ's experienced soft comparable club sales growth of 2.4% in August. For the thirty-week period comps climbed 5.5%. Rising gasoline prices positively impacted the comparable club sales by 0.5% during the reported … [visit site to read more]

Australian Dollar: Caution

Posted: 03 Sep 2010 08:18 AM PDT

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

Forex Trading: GBPUSD Trades Between The Goal Posts As The Week Heads To The Close

Posted: 03 Sep 2010 07:40 AM PDT

The Great Jobs Depression Worsens, And The Choice Ahead Grows Starker

Posted: 03 Sep 2010 07:29 AM PDT

The Great Jobs Depression continues to worsen.
The Labor Department reports this morning that companies created ony 67,000 new jobs in August. That's down from the 107,000 they created in July. And because the government laid off temporary Census workers, the economy as a whole lost 54,000 jobs.
To put this into perspective, we need 125,000 net new jobs a month just to keep up with the growth of the population and the potential workforce.
Think of it this way. The number of Americans willing … [visit site to read more]
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