DailyMarkets.com - Earnings Scorecard: Carnival Corp.

Earnings Scorecard: Carnival Corp.
JPMorgan To Enhance Focus On Asia
ADTRAN Initiated As Neutral
Fluor Wins Contract In Malaysia
US-China Tension Evident In Futile House Currency Bill
DryShip Wins A DrillShip Contract
Honeywell Gets Korean Order
Cornerstone Value: James P. O’Shaughnessy
Jones Lang Increases Credit Limit
Earnings Scorecard: ConAgra Foods
Exxon Ramps Sakhalin-1 Production
BP To Sell $3.5 Billion Debt
Online Job Openings Reach 22-Month High In Sept.
Online Job Openings Reach 22-Month High In Sept.

Posted: 29 Sep 2010 10:05 AM PDT

Carnival Corp. (NYSE:CCL), the world's largest cruise company, posted better-than-expected third quarter 2010 results on September 21, 2010, buoyed by an increase in net revenue yields, attributable to robust demand in summer season and the ongoing cost reduction initiatives, which more than offset the hike in fuel prices. The recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for both the short-term and the long-term outlook for the stock are covered in depth … [visit site to read more]

JPMorgan To Enhance Focus On Asia

Posted: 29 Sep 2010 10:05 AM PDT

With a goal to generate about half of its non-U.S. business from the fastest growing Asian market over the next five years, JPMorgan Chase & Co. (NYSE:JPM) plans to triple its private banking assets in the region, Bloomberg reported on Tuesday.

As the number of millionaires in the Asia-Pacific region has been increasing significantly, according to the report by Bank of America Corporation (NYSE:BAC) and Capgemini, an expansion of private banking assets in the region could substantially … [visit site to read more]

ADTRAN Initiated As Neutral

Posted: 29 Sep 2010 09:35 AM PDT

We are initiating coverage on ADTRAN Inc. (NASDAQ:ADTN) with a Neutral rating. Currently, the stock has a Zacks #2 Rank (Buy).

We believe ADTRAN is benefiting from several new product cycles in broadband access, fiber to the node, Ethernet over copper, optical and enterprise VoIP. The increasing adoption of the TA5000 platform has resulted in incremental market opportunities and share gains that are likely to continue in future. However, competitive pressure, regulatory environment, higher … [visit site to read more]

Fluor Wins Contract In Malaysia

Posted: 29 Sep 2010 09:35 AM PDT

Fluor Corporation (NYSE:FLR) has been awarded the Hijau Gasoil Phase-1 project in Malaysia by Shell Refining Company. The work involves construction of a new 6,000 ton-per-day diesel processing unit at Port Dickson, Malaysia.

Fluor will carry out the engineering, procurement and commissioning of the plant and will book revenues from the contract in the third quarter of 2010. More than 650 professionals are likely to be employed by Fluor and the work is going to be carried out from the … [visit site to read more]

US-China Tension Evident In Futile House Currency Bill

Posted: 29 Sep 2010 09:09 AM PDT

The U.S. House of Representatives today (Wednesday) will vote on legislation that would let the U.S. government take punitive actions against countries that undervalue their currencies.

The bill isn’t likely to have any tangible impact on U.S. policy, but it’s yet another manifestation of the growing friction between the world’s two greatest economic powers.

The Currency Reform for Fair Trade Act (HR 2378) is the apparent result of increasingly harsh rhetoric towards China’s currency … [visit site to read more]

DryShip Wins A DrillShip Contract

Posted: 29 Sep 2010 09:05 AM PDT

DryShips Inc.'s (NASDAQ:DRYS) fully-owned subsidiary Ocean Rig UDW received a $135 million long-term contract from a U.S.based oil company to explore energy off the coast of West Africa for 300 days. This is DryShips first contract for one of its four new rigs, after moving into the deepwater drilling business in 2008, which has been facing financial concerns ever since. The contract involves drilling four wells off the coast of West Africa and is expected to commence in the first or second … [visit site to read more]

Honeywell Gets Korean Order

Posted: 29 Sep 2010 09:05 AM PDT

Honeywell International Inc. (NYSE:HON) announced that UOP LLC, a group company, has been picked by HC Petrochem Co., Ltd. to facilitate technology transfer for expansion of its petrochemicals complex in Daesan, South Korea.
The basic layout design of the plant has commenced and initial production would start in the second half of 2013. HC Petrochem Co., Ltd. plans to increase its output of paraxylene from 380,000 metric tons to 1,180,000 metric tons per annum.
HC Petrochem Co., Ltd. aims to … [visit site to read more]

Cornerstone Value: James P. O’Shaughnessy

Posted: 29 Sep 2010 08:59 AM PDT

By Larry Harmych of http://intelligentinvestors.org/
I recently finished a book entitled "What Works on Wall Street" by James P. O'Shaughnessy. In this book O'Shaughnessy explains the power of passive investing. In fact, O'Shaughnessy goes over several methods of passive investing which lower risk while increasing return, thus highlighting the fact that greater returns don't always come with higher risk. O'Shaughnessy also shows the reciprocal, that greater risk does not always … [visit site to read more]

Jones Lang Increases Credit Limit

Posted: 29 Sep 2010 08:35 AM PDT

Jones Lang LaSalle Incorporated (NYSE:JLL), a leading real estate investment trust (REIT), has recently increased its $840 million credit facility to $1.1 billion to strengthen its liquidity. The new facility consists of $900 million of revolving credit and a $200 million term loan.

Jones Lang also extended the maturity of the credit facility from June 2012 to September 2015. The borrowings under the new credit facility will bear interest in the range of LIBOR plus 1.5% to 3.0%. Jones Lang … [visit site to read more]

Earnings Scorecard: ConAgra Foods

Posted: 29 Sep 2010 08:35 AM PDT

Following the depressing first quarter earnings release on September 21, majority of the analysts covering ConAgra Foods Inc. (NYSE:CAG), North America’s leading packaged food company, have lowered their earnings estimates for fiscal years 2011 and 2012. Based on first quarter results, ConAgra narrowed its earnings per share (EPS) growth expectation from the range of 8%-10% over the fiscal 2011 EPS of $1.74 to just 5%-7%.

First Quarter Summary

ConAgra reported results for the first … [visit site to read more]

Exxon Ramps Sakhalin-1 Production

Posted: 29 Sep 2010 08:20 AM PDT

ExxonMobil Corp. (NYSE:XOM) announced the start-up of production in Odoptu field at the Sakhalin-1 project offshore northeastern Russia. This field is expected to add approximately 11 million barrels of oil to the total oil production of Sakhalin-1 in 2011. The company said that commencement of the field is on schedule and cost is per expectations.

The Sakhalin-1 Project is treated as one of Exxon's attractive investments in Russia. Exxon's subsidiary, Exxon Neftegas Limited has the … [visit site to read more]

BP To Sell $3.5 Billion Debt

Posted: 29 Sep 2010 08:20 AM PDT

BP plc (NYSE:BP) has taken another step toward meeting its $30 billion spill-related obligation. The U.K. oil major has decided to raise cash by using other sources of capital. It plans to sell $3.5 billion debt for the first time since the oil spill on April 20.

Following a prolonged sluggishness, the company recently got back an investment grade credit rating (Baa3 by Moody’s Investors Service, the lowest step of investment-grade), which compelled it to raise money through the debt … [visit site to read more]

Online Job Openings Reach 22-Month High In Sept.

Posted: 29 Sep 2010 08:11 AM PDT

“Online advertised vacancies rose 59,900 in September to 4,296,100 following a decrease of 57,100 in August, according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series released today (see chart above). The gap between the number of unemployed and advertised vacancies (supply/demand rate) stood at 3.51 unemployed for every advertised vacancy in August (the last available unemployment data) but is down from its peak of 4.73 in October 2009. (see Chart 1 in the report).

"Since … [visit site to read more]