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- Forex Trading: Euro Gains On Fitch Comments
- It’s A Race To The Bottom For Global Currencies And The Winner Will Be Gold
- Return Of Quantitative Easing Benefits Gold
- Forex Trading: USD/JPY Trading Sideways
- Forex Trading: Eur/Usd Testing 100 Hour M/A
- Things are Looking More Bearish For The US Dollar
- Forex Trading: Euro Zone Eerily Silent Amid BOJ And Fed Monetary Moves
- U.S. Stock Market Review
- Bear Of The Day: Beckman Coulter, Inc. (BEC)
- Bull Of The Day: Atmel Corporation (ATML)
- Growth & Income Stock: Wipro Ltd.
- Aggressive Growth Stock: Elizabeth Arden
- Momentum Stock: Home Inns & Hotels Management, Inc.
- Forex Trading: Eurozone GfK German Consumer Climate
- Gold Mining Stocks To Outperform Even If Gold Corrects
- Crude Oil Holds Gains Despite Decline In Stocks, Gold Breaks Five-Session Win Streak
- Recycling Is Garbage, Part II
- How The Cell Phone Is Changing Lives In Cuba
- Singapore Stock Market Update For Tuesday 28 September
- Peter Weinberg ‘Tells It Like It Is’
- Forex Trading: EUR/CHF Pushing Against Resistance
- Stock Picks For Tuesday: Eastman Kodak, Hemispherx BioPharma, Rambus, Generex Biotechnology
- Forex Trading: AUD/USD Makes Fresh 2yr Highs
- A Lack Of Speculative Interest And Dollar Bounce Curb Crude, Gold Monday
- Who To Believe
- Obama Responds To The Movie “Waiting For ‘Superman’” (7:40) And Whether His Daughters Would Get Good Education At DC Skools (17:27)
- AXIS Capital To Buy Back Shares
- Kodak Renews Walmart Contract
- Prudential Touted To Buy AIG Units
- Williams Continues At Neutral
- Positive EU Opinion For AZN Drug
- Results Of Sallie’s Tender Offer
- Vale Raises Shareholder Wealth
- GM To Recall 20,000 Cadillacs
- United Technologies Wins Contract
- Dead End For M&T–Santander Deal?
- Merck KGaA MS Drug Faces Hurdle
- Unilever Acquiring Alberto Culver
- Ford To Open New Plant In China
- U.S. Onshore Bodes Well
- AIG Views $2B Profit For AIA In ’10
- L-3 Comm Gets Air Force Contract
- ZOLL Seals Brazilian AED Contract
- Hess’ Upstream Foray Continues
- Net Margins On The March
- Covidien Boosts Dividend
- Nexen Accelerates Buzzard Start-up
- General Dynamics Wins Army Contract
- John Hussman: Not Yet Out Of The Woods
| Forex Trading: Euro Gains On Fitch Comments Posted: 28 Sep 2010 02:58 AM PDT The Euro has been trading continually higher after Fitch stated that Ireland may not suffer further downgrades if a favorable cost plan can be designed for Anglo Irish … [visit site to read more]
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| It’s A Race To The Bottom For Global Currencies And The Winner Will Be Gold Posted: 28 Sep 2010 02:30 AM PDT In 2010, any nation that has a weak currency has a very significant competitive advantage in global trade. A weak currency means that the products and services produced by that nation will be less expensive for other nations. Therefore other nations will buy more of those products and services. When exports go up, employment goes up and more wealth flows into the country. Alternatively, when the value of a national currency declines, exports do down, unemployment increases and … [visit site to read more]
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| Return Of Quantitative Easing Benefits Gold Posted: 28 Sep 2010 01:11 AM PDT The Federal Reserve said two words in its statement last week that should make every gold investor happy: Quantitative Easing. The Fed hinted that we may see additional QE measures as early as November. The news is good for gold investors because it means there could be more dollars chasing a finite amount of resources, further devaluing the U.S. dollar. We've already seen an intervention by Japan's central bank to weaken the yen in an effort to boost the nation's sagging export … [visit site to read more]
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| Forex Trading: USD/JPY Trading Sideways Posted: 28 Sep 2010 12:40 AM PDT Following the BOJ intervention early Friday morning, the pair over corrected itself as the market saw a good opportunity to sell; the pair then traded down to 84.110. Following the move, the pair has tested the 84.110 low twice and has traded inside of a 30 point range for the past 24 hours. Resistance is being shown at the 84.410 level, which is the 23.6 fibo line on the move from the high of 85.380 to the low of 84.110 on the 24th. Adding to that resistance is the 100 hour … [visit site to read more]
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| Forex Trading: Eur/Usd Testing 100 Hour M/A Posted: 28 Sep 2010 12:08 AM PDT Eur/Usd is testing its 100 hour M/A of 1.3404. If the pair can break below the next support lies at 1.3350-55 level. If Eur/Usd holds a move back up to 1.3460-65 is … [visit site to read more]
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| Things are Looking More Bearish For The US Dollar Posted: 28 Sep 2010 12:01 AM PDT Indeed, things are looking more depressed for the greenback. Now, what led me to say such pessimistic statement? Well, technically speaking, the US dollar index (USDX) which is a measure of the greenback's valuation against a basket of other currencies like the arch nemesis, the euro, has just broken down from a massive cone head like head and shoulders pattern. As you know, a break down from such usually leads to a downside reversal which would send the USDX's value to at least its … [visit site to read more]
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| Forex Trading: Euro Zone Eerily Silent Amid BOJ And Fed Monetary Moves Posted: 27 Sep 2010 11:54 PM PDT Euro Zone Eerily Silent amid BOJ and Fed Monetary Moves
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| Posted: 27 Sep 2010 11:30 PM PDT The daily index charts still look bullish but heading into the last hour of trading today, it seemed as if the bulls would be able to make the market close in the green today. But weakness in the financials (what else??) insured that the markets closed at their lows for the day. As far as the S&P is concerned, 1150 continues to act as tough resistance whereas support can be expected at 1132. Russell 2000 paints an interesting picture. The small cap index got rejected right at the … [visit site to read more]
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| Bear Of The Day: Beckman Coulter, Inc. (BEC) Posted: 27 Sep 2010 11:05 PM PDT Currently, the most important issue facing Beckman Coulter (NYSE:BEC) is the warning letter related to its troponin test kits. This overhang has cut revenues in addition to impacting client additions based on which the outlook has been lowered.
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| Bull Of The Day: Atmel Corporation (ATML) Posted: 27 Sep 2010 11:05 PM PDT Atmel Corporation’s (NASDAQ:ATML) top-line growth continues to accelerate, driven by solid growth in 8-bit and 32-bit micron rollers and touch-sensing products.
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| Growth & Income Stock: Wipro Ltd. Posted: 27 Sep 2010 11:05 PM PDT Wipro Ltd. (NYSE:WIT) recently beat the Zacks Consensus Estimate by an impressive 20%. The company has been seeing strong demand for its high-margin IT services and has been hiring rapidly and increasing guidance as a result.
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| Aggressive Growth Stock: Elizabeth Arden Posted: 27 Sep 2010 11:05 PM PDT Elizabeth Arden (NASDAQ:RDEN) analysts keep raising estimates and are now expecting earnings to nearly double over the next 2 years.
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| Momentum Stock: Home Inns & Hotels Management, Inc. Posted: 27 Sep 2010 11:05 PM PDT Home Inns & Hotels Management, Inc. (NASDAQ:HMIN) recently hit a new multi-year high as the industry recovers from a challenging 2009 on the back of a stronger global economy. With estimates on the upswing and a bullish growth projection, HMIN looks like a solid momentum player.
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| Forex Trading: Eurozone GfK German Consumer Climate Posted: 27 Sep 2010 11:01 PM PDT The Euro, which has been trading in a tight range so far this session, traded slightly higher after the German consumer climate came in at 4.9; better than the survey of 4.3 and prior showing of … [visit site to read more]
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| Gold Mining Stocks To Outperform Even If Gold Corrects Posted: 27 Sep 2010 10:52 PM PDT At the end of July I published a series of articles calling an important buypoint in precious metals. To see my archived article from that point click here http://goldstocktrades.com/blog/2010/07/21/trading-method-signals-buy-gold/. In these articles I mentioned a target of $21 by the end of the year. Right now silver has reached that target after making an explosive move higher. Silver has made a 15% gain in 5 weeks. I have found having targets and taking profits at overbought … [visit site to read more]
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| Crude Oil Holds Gains Despite Decline In Stocks, Gold Breaks Five-Session Win Streak Posted: 27 Sep 2010 10:42 PM PDT Commodities – Energy Crude Oil Holds Gains Despite Decline in Stocks Crude Oil (WTI) – $76.22 // $0.30 // 0.39% Commentary: Monday was a quiet day for crude, with prices ending the session $0.03, or 0.04%, higher. U.S. equity markets sold off about 0.5% on the day, so in that context, crude oil's "quiet day" was a strong showing. Overall, oil looks like it is consolidating after last week's 3.8% advance. Two notable bullish factors are underpinning crude in recent days: an … [visit site to read more]
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| Posted: 27 Sep 2010 08:35 PM PDT More on recycling from Jeff Jacboy (see previous post here): “Most of the stuff we throw out — aluminum cans are an exception — is cheaper to replace from scratch than to recycle. "Cheaper'' is another way of saying "requires fewer resources.'' Green evangelists believe that recycling our trash is "good for the planet'' — that it conserves resources and is more environmentally friendly. But recycling household waste consumes resources, too. Extra trucks are required to … [visit site to read more]
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| How The Cell Phone Is Changing Lives In Cuba Posted: 27 Sep 2010 08:21 PM PDT “On the streets of Havana, it is rare to walk a hundred yards and not see someone texting. According to official statistics, by the end of the year the number of mobile phone users nationwide is expected to exceed a million. Considering the growth in cellphone use in other Latin American countries, it is a low figure, only about one Cuban in twelve. Nevertheless, one could say that no element of our economy has grown as fast, in recent months, as mobile phone use. Moreover, despite the … [visit site to read more]
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| Singapore Stock Market Update For Tuesday 28 September Posted: 27 Sep 2010 07:33 PM PDT Morning Highlights The index opens flat at 3112.29. Other Asian markets were l;ower as investors followed Wall Street’s lead and took some cash off the table after recent gains. U.S.September Consumer Confidence Richmond Fed September Manufacturing Index Corporate Announcements: DBS officially opened DBS Asia Hub, which will house more than 3,000, or over 40% of DBS’ Singapore-based staff. News Updates: Morgan Stanley remains the largest … [visit site to read more]
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| Peter Weinberg ‘Tells It Like It Is’ Posted: 27 Sep 2010 07:10 PM PDT I first introduced readers of Sense on Cents to Peter Weinberg a year ago when I wrote, Wall Street "Skin" Needs to Thicken. Weinberg was not reticent then in highlighting Wall Street's misaligned incentive compensation system which clearly practiced the "heads I win, tails you lose" model. The other day, the Financial Times ran a clip in which Peter Weinberg once again provides a refreshing and honest perspective on our markets, economy, Wall Street, Washington, and the global … [visit site to read more]
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| Forex Trading: EUR/CHF Pushing Against Resistance Posted: 27 Sep 2010 06:15 PM PDT The EUR/CHF pair which had been hammered all summer on fears of the Euro's demise, possible bond defaults in Greece, general flight to CHF on risk concerns and in addition by straight demand for Swissy for loan repayments throughout Europe. The appreciation of the Euro in September has out paced the Swissy and we see the pair pushing against trendline resistance. If this level holds we could see the pair lose some steam and push back toward the 38.2% retracement of the September … [visit site to read more]
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| Stock Picks For Tuesday: Eastman Kodak, Hemispherx BioPharma, Rambus, Generex Biotechnology Posted: 27 Sep 2010 06:08 PM PDT ( click to enlarge )
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| Forex Trading: AUD/USD Makes Fresh 2yr Highs Posted: 27 Sep 2010 05:39 PM PDT The AUD/USD made fresh 2 year highs overnight @.9644 and is consolidating early in the Far East around the 96 cent level. A break through the .9650 level could trigger a move higher; although there is speculation of corporate orders and resistance at that seemingly important level. Concerns also persist on the RBA's reaction to an elevated and Aussie and the effects on its export driven economy. We will continue to watch the channel that … [visit site to read more]
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| A Lack Of Speculative Interest And Dollar Bounce Curb Crude, Gold Monday Posted: 27 Sep 2010 05:08 PM PDT North American Commodity Update
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| Posted: 27 Sep 2010 04:56 PM PDT Yet another survey highlights the difference between what the so-called experts have to say about the economy and what most people believe:
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| AXIS Capital To Buy Back Shares Posted: 27 Sep 2010 03:05 PM PDT As part of its concerted effort to enhance value for its shareholders, the board of directors of AXIS Capital Holdings Limited (AXS) has approved an additional $750 million share buyback program. The current buyback approval is in addition to the $121 million available as of September 23, 2010, under the previous share repurchase authorization. The shares can be bought back through December 31, 2012. The initial share repurchase program to buy back share worth $400 million was authorized on … [visit site to read more]
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| Posted: 27 Sep 2010 03:05 PM PDT Eastman Kodak Company (NYSE:EK) recently renewed its contract with Canadian subsidiary of Wal-Mart Stores Inc. (WMT), Walmart Canada Corp. The subsidiary is a leading photo retailer in Canada. The contract was renewed so as to that Walmart Canada remains Eastman Kodak'sprimary operator for retail photo kiosks and dry lab systems.
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| Prudential Touted To Buy AIG Units Posted: 27 Sep 2010 02:35 PM PDT Sources from Wall Street Journal have reported that Prudential Financial Inc. (NYSE:PRU) has resumed talks for the purchase of two of the Japanese life operations of American International Group Inc. (NYSE:AIG). The deal value is expected to lie between $4 billion and $5 billion, based on 7x−8x combined earnings of $600 million, after-tax, generated by the units. Talks between Prudential and AIG over the sale of its operations — AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. — … [visit site to read more]
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| Posted: 27 Sep 2010 02:35 PM PDT We are retaining our Neutral recommendation on Williams Companies, Inc. (WMB), to account for the company's solid asset base, attractive growth opportunities and competitive positioning in major shale. These positives were fairly diminished by the weak natural gas projections, compelling Williams to cut 2010–2012 capital spending and earnings outlook.
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| Positive EU Opinion For AZN Drug Posted: 27 Sep 2010 02:35 PM PDT AstraZeneca (NYSE:AZN) recently received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for Brilique (ticagrelor). The company is seeking approval in the EU for the use of Brilique in the prevention of atherothrombotic events in adult patients with Acute Coronary Syndromes (ACS). The positive recommendation was based on data submitted by the company on Brilique including data from the PLATO study. A final decision from the European marketing approval authority … [visit site to read more]
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| Results Of Sallie’s Tender Offer Posted: 27 Sep 2010 02:35 PM PDT SLM Corporation (NYSE:SLM) or Sallie Mae announced the results of its separate modified 'Dutch Auction' cash tender offers, announced on August 26, 2010, for its Early 2011 Notes and Late 2011 Notes. The company, as of the expiration date on September 23, received tenders of approximately $424.4 million for Early 2011 Notes and $236.4 million for Late 2011 Notes. The maximum principal amount to be expected was fixed at $500 million for both the offerings. Sallie Mae, under its Early 2011 … [visit site to read more]
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| Vale Raises Shareholder Wealth Posted: 27 Sep 2010 02:35 PM PDT The largest Brazilian miner, VALE S.A (VALE) recently authorized the buy-back of 64.8 million common shares and 98.4 million preferred shares for a total amount of $2 billion until March 2011.
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| Posted: 27 Sep 2010 02:05 PM PDT General Motors (MTLQQ) will recall 20,000 vehicles of two of its Cadillac models in order to replace the glove compartment boxes in the vehicles that could cause leg injuries in a crash. The recall includes 5,000 vehicles of Cadillac CTS and CTS-V models from 2009, and more than 15,000 vehicles of the same models from 2010. GM decided to recall the vehicles after a crash test conducted by the government. The test revealed that the front-seat passenger not wearing a seat belt could strike the … [visit site to read more]
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| United Technologies Wins Contract Posted: 27 Sep 2010 02:05 PM PDT United Technologies Corporation (NYSE:UTX) has been awarded a modified contract to supply 22 engines to the U.S. Air Force. The contract was originally won by Pratt & Whitney, a subsidiary company of United Technologies.
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| Dead End For M&T–Santander Deal? Posted: 27 Sep 2010 02:05 PM PDT The M&T Bank (NYSE:MTB) and Banco Santander SA (NYSE:STD) deal has stalled again, according to a Wall Street Journal report. The deal is said to be dead since the companies failed to reach a consensus on who will control the merged entity. The deal has been a matter of discussion for several months. Santander sought to merge Sovereign Bank, its U.S. unit, with M&T Bank, buy Allied Irish Banks plc.'s (NYSE:AIB) 22.5% stake in M&T and take over the control of the merged entity while M&T … [visit site to read more]
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| Merck KGaA MS Drug Faces Hurdle Posted: 27 Sep 2010 02:05 PM PDT Merck KGaA (MKGAF) recently announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended against the approval of cladribine for the treatment of relapsing-remitting multiple sclerosis (MS), citing safety concerns.
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| Unilever Acquiring Alberto Culver Posted: 27 Sep 2010 01:35 PM PDT Consumer products giant Unilever Inc. (NYSE:UL) entered into a definitive agreement to acquire US-based hair-products company Alberto Culver for US$3.7 billion in cash. The acquisition is expected to enhance Unilever's presence in the high-growth personal care category. Personal care is a strategic category for Unilever and in fiscal 2009; it represented 31% of the company's total turnover. Alberto Culver's successful brands such as TRESemmé, Nexxus, VO5 and Simple compliment Unilever's … [visit site to read more]
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| Ford To Open New Plant In China Posted: 27 Sep 2010 01:35 PM PDT Ford Motor Co. (NYSE:F) and its joint venture (JV) partners in China, Mazda and Chongqing Changan Automobile will open a new engine manufacturing plant in the southwestern city of Chongqing. The JV, Changan Ford Mazda Automobile Ltd., has signed a memorandum of understanding with the local government to build the plant. The plant, entailing an investment of $500 million, will be the third plant of the JV. The JV already operates two assembly plants in China, one in Chongqing and the other in … [visit site to read more]
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| Posted: 27 Sep 2010 01:35 PM PDT Though the U.S. land rig counts fell slightly last week, we continue to believe that onshore market will outperform offshore in the near term. The weekly (09.24.2010) release on rig counts from Baker Hughes Inc. (NYSE:BHI) showed that the U.S. land rig counts were down by 5 to 1635 from the previous week (09.17.2010).
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| AIG Views $2B Profit For AIA In ’10 Posted: 27 Sep 2010 01:35 PM PDT Over the weekend, American International Group Inc. (NYSE:AIG) estimated pre-tax earnings of about $2 billion for its Asian life-insurance unit, American International Assurance Group Ltd. (AIA), in fiscal 2010. This is notably higher than the $1.84 billion pre-tax operating profit earned by AIA in fiscal 2009, as reported by Prudential plc (NYSE:PUK) in March 2010. Background Story… AIG started reorganizing for the initial public offering (IPO) of AIA in Hong Kong after Prudential refused to buy … [visit site to read more]
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| L-3 Comm Gets Air Force Contract Posted: 27 Sep 2010 01:05 PM PDT The U.S. Air Force has awarded a $29.4 million contract to L-3 Communications Holdings Inc. (NYSE:LLL) for effecting modifications to four MC-130W aircrafts. Under the contract, L-3 Communications' subsidiary TCS Inc. will install a precision strike package on the aircrafts. The MC-130W aircraft was originally developed by Lockheed Martin Corporation (NYSE:LMT) for use by the special operations forces for their missions.
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| ZOLL Seals Brazilian AED Contract Posted: 27 Sep 2010 01:05 PM PDT Massachusetts-based medical devices maker ZOLL Medical (NASDAQ:ZOLL) has won a major supply contract for its automated external defibrillators (AEDs), devices that diagnose and treat sudden cardiac arrest (SCA). Brazil's Ministry of Health has awarded the company a contract to provide its AED Plus devices for the country's early defibrillation program.
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| Hess’ Upstream Foray Continues Posted: 27 Sep 2010 12:35 PM PDT Hess Corp. (NYSE:HES) continues to gain traction in its upstream growth trajectory. The fifth largest U.S. oil integrated joined hands with the Chinese oil major, PetroChina Co. (NYSE:PTR) for exploration and production (E&P) in the Daqing oil field, one of the largest crude oil producing area in China.
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| Posted: 27 Sep 2010 12:35 PM PDT One of the biggest — but most under-reported — business stories of the last few years has been the stunning recovery in Net Margins. The economy has remained sluggish, and that has meant that revenue growth has been slow. In 2009, for the S&P 500 as a whole, revenues fell by 6.75%, yet total earnings actually increased slightly. Of course, most of the improvement in earnings came from the Financials not going bankrupt at quite the pace they did in 2008, particularly in the fourth quarter … [visit site to read more]
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| Posted: 27 Sep 2010 12:35 PM PDT Leading healthcare products maker Covidien plc (NYSE:COV) has raised its quarterly dividend to 20 cents a share from 18 cents, representing an 11% growth. This lifts the annual dividend to 80 cents per share from the current payout of 72 cents. The revised quarterly dividend is payable on November 8, 2010, to shareholders of record as on October 4, 2010.
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| Nexen Accelerates Buzzard Start-up Posted: 27 Sep 2010 12:05 PM PDT Nexen Inc. (NYSE:NXY), a major Canadian oil and gas company, expedited the start-up of its fourth production platform in the Buzzard oil field in the North Sea. The company intends to commence the platform earlier than expected in an effort to reduce costs and curtail operational interruptions.
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| General Dynamics Wins Army Contract Posted: 27 Sep 2010 12:05 PM PDT Defense contractor General Dynamics (NYSE:GD) announced that its unit General Dynamics Armament and Technical Products received an order worth $35 million from the U.S. Army to manufacture M2A1 quick change barrel (QCB) conversion kits.
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| John Hussman: Not Yet Out Of The Woods Posted: 27 Sep 2010 11:59 AM PDT John Hussman "CAMBRIDGE September 20, 2010 – The Business Cycle Dating Committee of the National Bureau of Economic Research met yesterday by conference call. At its meeting, the committee determined that a trough in business activity occurred in the U.S. economy in June 2009. The trough marks the end of the recession that began in December 2007 and the beginning of an expansion."
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