DailyMarkets.com - American Eagle Sept. Sales Rise |
- American Eagle Sept. Sales Rise
- Neutral On Broadcom Corporation
- Tellabs Remains Neutral
- CNOOC’s ADR Performance Gleams
- Lockheed Targets Shareholder Value
- Earnings Preview: The Flood Begins
- Vivus Sells MUSE To Meda
- TECO Energy: Upgrade To Outperform
- Mortgage Rates Fall To 60-Year Low Of 4.19%
- Goodrich Focus On Shareholder Value
- AMD Prey To PC Market Pressures
- Apache Signs Wheatstone LNG Deal
- Petrobras Reports Another Tupi Find
- Dillard’s September Sales Up
- Itron Maintained At Neutral
- NTT Gets Dimension Data
- Increased Air Demand In Asia May Boost Airline ETF
- Marathon Ancillary Inks Supply Deal
- Bernanke On Quantitative Easing (pt. 1)
- NY Times Outlook Disappoints
- Bernanke On Quantitative Easing (pt. 2)
- Freelance Nation: The Temp Job Market Is Booming
- API: Rising Demand For Petroleum Indicates A Shift From Economic Stagnation To Economic Recovery
- FDA Nod For Alkermes’ Vivitrol
- Noble Upped To Neutral
- UTX Strengthens Security Product Portfolio
- AMSC Upgraded To Outperform
- Tom T. Hall, The Jailer’s Wife’s Belogna, And Monetary Policy
- Empire Manufacturing Indexes Improve In October
- Ericsson: No To Indian Contract
- Earnings Preview: Peabody Energy
- Viacom Restructuring Film Division
- Tensions Rise As Global Policymakers Part Ways
- Forex Trading: AUDUSD: Outside Day, Lower Close A Possibility Going Into The Weekend
- Genuine Parts Overrides Estimates
- Retail Sales’ Rise Surprise
- Forex Trading: USDJPY Tests Trendline Resistance At 81.47
- Financial ETFs May Be Hit By Slim Bank Profits
- GE Beats On Lower Revenue
- CPI Tame In September
- Forex Trading: EURUSD Tests Key Support Levels Again 1.3967-74
- Promising Data On Amgen Drug
- The Choice Of A Valuation Method
- USD/CAD – Bearish Bias Within Steep Downtrend
- Forex Trading: EURUSD Is Not Going Out Quietly This Week. Action Continues
- What QE2 Cannot Do
| American Eagle Sept. Sales Rise Posted: 15 Oct 2010 03:05 PM PDT American Eagle Outfitters Inc.'s (NYSE:AEO) comparable-store sales for September increased 4% as against flat growth in the year-earlier period. Total sales for the five weeks ended October 2, 2010, upped 4% to $251 million from $241 million for the five weeks ended October 3, 2009.
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| Neutral On Broadcom Corporation Posted: 15 Oct 2010 03:05 PM PDT We recently reiterated our NEUTRAL recommendation on Broadcom Corporation (NASDAQ:BRCM).
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| Posted: 15 Oct 2010 03:05 PM PDT We reiterate our long-term Neutral recommendation for Tellabs Inc. (NASDAQ:TLAB), which means the stock will perform mostly in line with the broader market. Tellabs' next-generation advanced IP-access products are receiving increasing market traction. Huge demand for high-speed mobile data and video services has resulted in rapid growth for mobile backhaul and optical transport products. This trend is likely to continue in the long-run as smartphones are becoming the next-generation … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| CNOOC’s ADR Performance Gleams Posted: 15 Oct 2010 03:05 PM PDT Ahead of the quarterly results, we recommend an Outperform rating for CNOOC Ltd. (NYSE:CEO) ADRs with the Zacks #1 Rank (Strong Buy). The recent upswing in CNOOC ADR performance (up more than 12% in the last three weeks) reflects the company's solid balance sheet, premium assets portfolio, excellent execution strategy, unique position as a pure oil player and potential transactions in the merger and acquisition space.
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| Lockheed Targets Shareholder Value Posted: 15 Oct 2010 03:05 PM PDT The largest U.S. defense contractor, Lockheed Martin Corporation (NYSE:LMT) in an effort to enhance value for its shareholders, recently hiked its quarterly dividend by 12 cents to 75 cents. This translates to a 19% increase from the prior dividend of 63 cents. The increased dividend will be paid on December 31, 2010, to stockholders of record as on December 1, 2010.
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| Earnings Preview: The Flood Begins Posted: 15 Oct 2010 02:35 PM PDT Earnings Preview 10/15/10 The third quarter earnings season is now "officially underway.” Things really pick up in the next week as we have a total of 427 firms reporting, including 113 from the S&P 500. We define any fiscal period ending in August, September and October to be the third quarter. In other words, in the next week alone, 22.6% of the S&P 500 will report, and buy the end of the week close to one third of the reports will be in. The firms reporting next week look like a … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 15 Oct 2010 02:35 PM PDT Vivus Inc. (NASDAQ:VVUS) recently announced its intention to divest its erectile dysfunction treatment drug, MUSE, to Meda AB for $23.5 million. This transaction would fetch an upfront payment of $22 million and a milestone payment of $1.5 million. Vivus will receive the milestone payment on the basis of future sales of MUSE.
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| TECO Energy: Upgrade To Outperform Posted: 15 Oct 2010 02:35 PM PDT We recently moved to an Outperform rating for TECO Energy Inc. (NYSE:TE) as we expect the shares to perform ahead of the broader market going forward.
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| Mortgage Rates Fall To 60-Year Low Of 4.19% Posted: 15 Oct 2010 02:11 PM PDT According to Freddie Mac, that’s the lowest 30-year fixed rate since April … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Goodrich Focus On Shareholder Value Posted: 15 Oct 2010 02:05 PM PDT Goodrich Corporation (NYSE:GR) hiked its quarterly dividend by 7% to 29 cents per share from the current level of 27 cents on its common stock. The dividend is payable December 30, 2010 to shareholders of record as of December 1, 2010.
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| AMD Prey To PC Market Pressures Posted: 15 Oct 2010 02:05 PM PDT Advanced Micro Devices (NYSE:AMD) reported third quarter earnings of 12 cents a share (excluding the impact of GlobalFoundries), beating the Zacks Consensus estimate of 6 cents, despite falling revenues. Shares moved up 4.5% in after-hours trading, but have been moving down since the market opened this morning, since guidance was not encouraging. Similar to Intel Corp. (NASDAQ:INTC), AMD also saw softness in the consumer market, although the enterprise side fared better. Management stated that … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Apache Signs Wheatstone LNG Deal Posted: 15 Oct 2010 02:05 PM PDT U.S.energy firm Apache Corp. (APA) entered into a deal to sell liquefied natural gas (“LNG”) from the Wheatstone venture in Australia. The company said that its Australian subsidiary has signed a long-term agreement in this regard with Japanese utility behemoth Tokyo Electric Power Co. (also known as TEPCO) and Chevron Corp. (CVX), the operator of the project.
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| Petrobras Reports Another Tupi Find Posted: 15 Oct 2010 02:05 PM PDT Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., announced the discovery of more light oil in the pre-salt reservoirs of the Tupi areain the country's Santos Basin. The new well – the eighth in Tupi – reinforces the region's potential of 5-8 billion barrels of recoverable reserves.
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| Posted: 15 Oct 2010 02:05 PM PDT U.S. departmental store chain Dillard's Inc. (DDS) experienced a 3% increase in its same store sales as well as net sales figures for the five weeks ended October 2, 2010. Sales in comparable stores decreased 6% in September, 2009.
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| Posted: 15 Oct 2010 01:35 PM PDT We maintain our Neutral recommendation for Itron, Inc. (NASDAQ:ITRI) which means the stock should perform mostly in line with the broader market. The AMI (advanced metering infrastructure) and AMR (automated meter reading) markets exhibit the maximum growth potential.
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| Posted: 15 Oct 2010 01:35 PM PDT Nippon Telegraph & Telephone Corp. (NYSE:NTT), the largest integrated telecom operator in Japan, has received a shot in its arm to boost its cloud computing and integrated communications services business. Last July, NTT had taken a strategic move to acquire South Africa-based leading global IT solutions firm Dimension Data for a consideration of about $3.23 billion. Recently, the company announced that it has received approval from 93.42% of the shareholders of Dimension Data for this … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Increased Air Demand In Asia May Boost Airline ETF Posted: 15 Oct 2010 01:17 PM PDT As economies in Asia continue to prosper, the demand for air travel is following putting the Guggenheim Airline ETF (FAA) in a position to potentially reap the benefits.
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| Marathon Ancillary Inks Supply Deal Posted: 15 Oct 2010 01:05 PM PDT The Andersons Marathon Ethanol LLC ("TAME"), a joint venture of The Andersons Inc. (ANDE) and Marathon Petroleum Company LP, entered into a supply contract with Continental Carbonic Products Inc. Marathon Petroleum Company LP is a wholly owned subsidiary of Marathon Oil Corporation (MRO).
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| Bernanke On Quantitative Easing (pt. 1) Posted: 15 Oct 2010 01:05 PM PDT Fed Chairman Ben Bernanke made an important speech this morning in which he discussed monetary policy in a low interest rate, low inflation environment. Below I present key passages from the speech along with my interpretation/translation. “Although the attainment of price stability after a period of higher inflation was a landmark achievement, monetary policymaking in an era of low inflation has not proved to be entirely straightforward. In the 1980s and 1990s, few ever questioned the desired … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 15 Oct 2010 01:05 PM PDT The ongoing slump in advertising market continues to weigh upon The New York Times Company (NYSE:NYT), the publisher of The New York Times, the International Herald Tribune, The Boston Globe and 15 other daily newspapers. This prompted the diversified media conglomerate to revisit its third-quarter 2010 outlook. The company now expects total revenues to decline between 2% and 3% compared to a growth of 1.2% registered in second-quarter 2010, as advertisers still remain shy due to the fragile … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Bernanke On Quantitative Easing (pt. 2) Posted: 15 Oct 2010 01:05 PM PDT “Generally speaking, large firms in good financial condition can obtain credit in capital markets easily and on favorable terms. Larger firms also hold considerable amounts of cash on their balance sheets. By contrast, surveys and anecdotes indicate that bank-dependent smaller firms continue to face significantly greater problems in obtaining credit, reflecting in part weaker balance sheets and income prospects that limit their ability to qualify for loans as well as tight lending standards and … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Freelance Nation: The Temp Job Market Is Booming Posted: 15 Oct 2010 12:49 PM PDT The overall job market might be struggling to recover from the recession, but there's one sector of the labor market that's doing quite well: temporary, freelance and contract employment. Since September of last year, total private-sector employment has increased by 593,000 jobs (data here), and temporary jobs have accounted for 404,200 (or 68.2%) of that increase (data here), according to the Bureau of Labor Statistics (see chart above). In other words, more than two out of … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| API: Rising Demand For Petroleum Indicates A Shift From Economic Stagnation To Economic Recovery Posted: 15 Oct 2010 12:40 PM PDT WASHINGTON, October 15, 2010 – “U.S. petroleum demand strengthened for all key refined products in September, indicating a shift from economic stagnation to economic recovery, according to the American Petroleum Institute's (API) Monthly Statistical Report for September. September distillate deliveries surged 6.9 percent compared with September 2009, driven by a robust demand recovery in ultra-low-sulfur distillates (ULSD), the type used for on-highway truck diesel fuel, indicating a … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| FDA Nod For Alkermes’ Vivitrol Posted: 15 Oct 2010 12:35 PM PDT Alkermes Inc. (NASDAQ:ALKS) received a boost when the US Food and Drug Administration (FDA) cleared its drug Vivitrol (naltrexone for extended-release injectable suspension) for the prevention of relapse to opioid dependence after opioid detoxification. Opioid dependence refers to a chronic ailment of the brain.
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| Posted: 15 Oct 2010 12:35 PM PDT We have recently upgraded our recommendation for Noble Corporation (NYSE:NE) to Neutral from Underperform due to the impressive accretion from the Frontier acquisition and a strong cash value embedded in the backlog.
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| UTX Strengthens Security Product Portfolio Posted: 15 Oct 2010 12:35 PM PDT UTC Fire & Security, a group company of United Technologies Corp (NYSE:UTX), announced that it intends to offer a comprehensive range of security products through four brands — Interlogix, Lenel, Supra and Onity. Businesses built around leading security brands are intended to operate as independent businesses, with separate product development, customer support and sales organizations.
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| Posted: 15 Oct 2010 12:35 PM PDT We recently upgraded our long-term recommendation (6+ months) on American Superconductor Corporation (NASDAQ:AMSC) from Neutral to Outperform. Our bullishness stems from a strong backlog of $952 million, solid financial position, acquisition of a quarter stake in Blade Dynamics and ambitious growth plans of its largest customer Sinovel.
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| Tom T. Hall, The Jailer’s Wife’s Belogna, And Monetary Policy Posted: 15 Oct 2010 12:33 PM PDT Now that I've been called a horse's behind (my word) for arguing that diminishing marginal utility would apply to bank holdings of excess reserves and that additions to those reserves might be utilized more readily, I guess I should lower my aim for the critics riding Shetlands.
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| Empire Manufacturing Indexes Improve In October Posted: 15 Oct 2010 12:08 PM PDT The NY Fed’s Empire State Manufacturing Survey showed an improvement in October for manufacturers in New York State, as the General Business Conditions index rose to 15.73 this month, an 11.6-point gain from the 4.14 level in September (see blue line above). October marked the 15th consecutive month of a positive reading for the General Business Conditions index, following a 16-month period with 15 negative readings from February 2008 to July 2009 that coincided very closely with the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Ericsson: No To Indian Contract Posted: 15 Oct 2010 12:05 PM PDT L.M Ericsson Telephone Co (NASDAQ:ERIC) has declined to bid for the $451 million telecommunication equipment supply contract floated by Bharat Sanchar Nigam Ltd (BSNL), a Government of India company.
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| Earnings Preview: Peabody Energy Posted: 15 Oct 2010 12:05 PM PDT Coal miner Peabody Energy Corporation (NYSE:BTU) will release its third quarter 2010 financial results on Tuesday, October 19, 2010. The Zacks Consensus Estimate for the third quarter is 91 cents, representing annual growth of 86.69%.
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| Viacom Restructuring Film Division Posted: 15 Oct 2010 12:05 PM PDT The slumping U.S. movie box-office has taken a huge toll on Viacom Inc. (VIA.B). The company continues to struggle with its Filmed Entertainment businesses. Management has decided to reduce headcount by 53 in its Paramount Pictures division.This will save around $10 million per annum.
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| Tensions Rise As Global Policymakers Part Ways Posted: 15 Oct 2010 11:45 AM PDT The tension out there is so thick you can cut it with a knife. I'm talking about the tension building between central bankers and policymakers in developed nations and their counterparts in so-called emerging market countries. On the one hand, you have policymakers here, in Japan, and in England promising to print money until the cows come home. Their aim is to boost their faltering domestic economies and combat deflation. But the money isn't staying at home. It's flowing … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex Trading: AUDUSD: Outside Day, Lower Close A Possibility Going Into The Weekend Posted: 15 Oct 2010 11:44 AM PDT |
| Genuine Parts Overrides Estimates Posted: 15 Oct 2010 11:35 AM PDT Genuine Parts Company (NYSE:GPC) posted a 22% rise in profit to $131.8 million in the third quarter of the year from $107.6 million in the same quarter of last year. On earnings per share basis, the profit improved 24% to 83 cents from 67 cents in the year-ago quarter and the Zacks Consensus Estimate of 76 cents.
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| Posted: 15 Oct 2010 11:35 AM PDT Retail Sales were better than expected in September, and the numbers for August were revised significantly higher. Total retail sales rose 0.6%, better than the 0.4% consensus expectation and are up 7.3% from a year ago. August was revised up from 0.4% growth to 0.7% growth, which makes the overall level of retail sales much better than the consensus was expecting. The Retail Sales report covers far more than just the shopping malls and is a very broad based measure of consumer spending. Since … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex Trading: USDJPY Tests Trendline Resistance At 81.47 Posted: 15 Oct 2010 11:21 AM PDT The USDJPY has marched up to the 81.47 level which is the trendline resistance starting from the highs on October 6th. As per the chart a number of times the price has approached the level. A break above has the 100 hour MA at 81.66 to overcome. The price has been below the 100 hour MA since October … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Financial ETFs May Be Hit By Slim Bank Profits Posted: 15 Oct 2010 11:17 AM PDT Nearly two years after the unfolding of the global financial crisis, U.S. financial companies are struggling to grow revenue streams and are witnessing increased operating costs, resulting in slimmer profits which could lead to slimmer returns for the Financial Select Sector SPDR (XLF), the iShares Dow Jones US Financial Sector Index Fund (IYF), the Vanguard Financials ETF (VFH) and the KBW Bank ETF (KBE).
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| Posted: 15 Oct 2010 11:05 AM PDT General Electric Company (NYSE:GE) released its earnings results for third quarter of 2010 before the opening bell today, reporting earnings per share of 29 cents, beating the Zacks Consensus estimate of 27 cents. With a 32% year over year increase in its earnings, the company benefited from a continued improvement in its economic scenario.
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| Posted: 15 Oct 2010 11:05 AM PDT The Consumer Price Index (CPI) rose by just 0.1% in September, down from increases of 0.3% in August and July. Year over year it is up just 1.1%. Almost all of the increase was due to energy prices, which rose 0.7% after increases of 2.3% in August and a 2.6% increase in July. Year over year, energy prices are up 3.8%. Actually, the increase is even narrower than that, as energy commodities such as gasoline were up 1.8% in September — a sharp deceleration from the 3.8% increase in August and … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex Trading: EURUSD Tests Key Support Levels Again 1.3967-74 Posted: 15 Oct 2010 10:47 AM PDT A break will next target the 200 hour MA at the 1.3938 level (green line in the chart). A break of that will target the 61.8T at … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 15 Oct 2010 10:35 AM PDT Amgen (NASDAQ:AMGN) recently presented encouraging data on its oncology candidate AMG 386. The company presented updated data from a randomized phase II study that was conducted in patients suffering from recurrent ovarian cancer. Results from this study were initially presented at the annual meeting of the American Society of Clinical Oncology (ASCO) in June 2010.
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| The Choice Of A Valuation Method Posted: 15 Oct 2010 10:11 AM PDT By Hugo Roque of www.vforvalue.blogspot.com Bruce Greenwald Bruce Greenwald, professor at Colombia University and heir of the tradition of value investing teaching at that university from the father of the theory, Benjamin Graham (who taught Warren Buffett), presents in his book Value Investing: From Value Investing: From Graham to Buffett and Beyond , an interesting framework for analyzing investment opportunities.
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| USD/CAD – Bearish Bias Within Steep Downtrend Posted: 15 Oct 2010 10:11 AM PDT Price action on USD/CAD (a daily chart of which is shown) as of Friday (10/15/2010) has shown some bullish correctiveness today after hitting parity (1.0000) on Thursday, but overall the pair still appears biased to the downside in line with the steep downtrend that the pair has been entrenched in since falling from key 1.0670 resistance in early September. Within this downtrend, a key downside support target resides in the 0.9930 price region, which represents a major low hit in … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex Trading: EURUSD Is Not Going Out Quietly This Week. Action Continues Posted: 15 Oct 2010 09:26 AM PDT |
| Posted: 15 Oct 2010 12:37 AM PDT The stock and commodity markets have been rallying based on expectations that the Federal Reserve would implement QE2, aka printing money. I have written about the risks to QE2 here and here and I don’t want to beat a dead horse. Despite the general market strength, stocks fell off yesterday based on fears that the mortgage foreclosure mess would seriously impact the financials. Is this 2008 all over again?
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