Tuesday, October 12, 2010

DailyMarkets.com - Avis’ Revised Third Quarter Outlook

DailyMarkets.com - Avis’ Revised Third Quarter Outlook

Avis’ Revised Third Quarter Outlook

Posted: 12 Oct 2010 09:35 AM PDT

Avis Budget Group Inc. (NYSE:CAR) expects impressive third quarter results, thanks to the cost-saving initiatives as well as higher demand for its products. The company plans to announce its third quarter financial results early next month.
Avis expects its revenues to increase to about $1.5 billion in the quarter (up from $1.47 billion in the year-earlier quarter) and anticipates earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $210 million to $220 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DineEquity To Sell 56 Applebee’s

Posted: 12 Oct 2010 09:35 AM PDT

California-based DineEquity Inc. (NYSE:DIN) announced on Monday that it has inked an agreement to sell 56 company-owned Applebee’s restaurants in Missouri, Illinois and Virginia for $38 million as a move to reduce debt burden and to build up a franchise-centric operation. In July 2010, DineEquity also announced the sale of 63 company-operated Applebee’s restaurants in Minnesota and parts of Wisconsin and expects to clinch the deal in fourth quarter 2010.
 
The sale of 36 restaurants in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Carnival Corporation Upgraded

Posted: 12 Oct 2010 09:35 AM PDT

We are upgrading our rating on Carnival Corporation (NYSE:CCL), the largest cruise operator in the world, to Outperform from Neutral.
 
The rating upgrade is based on third quarter 2010 earnings, which were well ahead of the Zacks Consensus Estimate, primarily driven by better-than-expected net revenue yields, robust demand in the summer season and ongoing cost reduction initiatives, which more than offset the hike in fuel prices. Carnival also raised its fiscal year 2010 outlook.
 
We … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Allos’ Encouraging Data On Folotyn

Posted: 12 Oct 2010 09:05 AM PDT

Recently, Allos Therapeutics, Inc. (NASDAQ:ALTH) announced encouraging survival data from a mid-stage study of its cancer drug Folotyn (pralatrexate injection). The randomized study (n=201) evaluated the efficacy of Folotyn against Roche's (RHHBY) erlotinib (Tarceva) in patients suffering from advanced non-small cell lung cancer (NSCLC) who are, or have been, cigarette smokers and did not respond to chemotherapy.
Results from the study, presented at the European Society of Medical Oncology, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview : Freeport-McMoRan

Posted: 12 Oct 2010 09:05 AM PDT

Copper major Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) is scheduled to report third quarter 2010 results on October 21, 2010. The Zacks Consensus Estimate for the current quarter and full year 2010 is pegged at $1.93 and $7.80. Shares of the company have surged higher and are trading near the 52-week high of $96.57 since its better-than-expected second quarter 2010 results.
Although Freeport did not come up with any earnings guidance, it expects copper sales to be around 970 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Highwoods Renews MedSolutions Lease

Posted: 12 Oct 2010 09:05 AM PDT

Highwoods Properties, Inc. (HIW), a real estate investment trust (REIT), has recently renewed its lease agreement with MedSolutions – a premier medical management services provider for 54,000 square feet (sq ft) of space at Cool Springs II in Nashville. In addition, the company also signed a second lease agreement for 42,000 sq ft of space at the same property.
 
With the deal, Cool Springs office park that includes five buildings is 93.6% occupied. The lease renewal and subsequent … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Varian Wins NIH Research Grant

Posted: 12 Oct 2010 09:05 AM PDT

Varian Medical Systems, Inc. (VAR), a global leader in medical devices used for cancer treatment, recently announced that its Ginzton Technology Center and Stanford University won a $3.6 million five-year research grant from the U.S. National Institutes of Health (NIH). The purpose of the grant will be to improve advanced imaging technology. Specifically, it will enhance the quality of Computed Tomography (CT) images for patients with metal objects in their bodies such as dental fillings and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Global Payments Misses

Posted: 12 Oct 2010 09:05 AM PDT

Global Payments Inc. (NYSE:GPN), first quarter 2011 earnings per share of 61 cents (according to the GAAP figures provided by the company) fails to beat Zacks Consensus Estimate of 69 cents per share and also decreased 14.1% from prior year quarter.

Revenue increased marginally 7% to $440.1 million compared to $409.1 million from year ago quarter. The rise in revenue was primarily attributed to 15% and 16% rise in revenue from US and Asia Pacific, respectively. But revenues from Europe dipped 8% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Drifts Lower Toward It’s Intraday Support Level

Posted: 12 Oct 2010 08:59 AM PDT

Forex Trading: GBPUSD Showing Bearish Tendencies

Posted: 12 Oct 2010 08:43 AM PDT

HCN Announces 3Q Investments

Posted: 12 Oct 2010 08:35 AM PDT

Health Care REIT, Inc. (HCN), a real estate investment trust (REIT) that operates senior housing and health care real estate assets, has recently announced gross investments of $702.5 million in the third quarter of fiscal 2010. Year to date, gross investments of the company totaled approximately $1.6 billion.
 
Health Care REIT had earlier targeted $2.0 billion of gross investments in fiscal 2010. With the current investments, management believes that the company is well on course to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Comcast Expanding Xfinity WiFi (revised)

Posted: 12 Oct 2010 08:35 AM PDT

In a major move to counter the competitive threat from other communications service providers, Comcast Corp. (NASDAQ:CMCSA) recently launched its WiFi services called "Xfinity WiFi" on its home turf of Philadelphia, New Jersey, and northern Delaware. Comcast's existing Xfinity Internet subscribers will be able to access all indoor and outdoor WiFi hotspots installed by it without any additional charge. Xfinity WiFi will support download speeds of 6 Mbps – 8 Mbps.

Cable MSOs throughout the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Televisa Chooses Debt Financing

Posted: 12 Oct 2010 08:35 AM PDT

The largest global Spanish-language broadcaster, Grupo Televisa SA (NYSE:TV), has announced plans to sell approximately 10 billion pesos ($802 million) of fixed-rate bonds due in 2020 to fund acquisitions. The money is likely to be utilized to acquire a 35% stake of Univision for a consideration of around $1.2 billion. Almost a year ago, Televisa raised $600 million by issuing fixed-rate bonds.  
Televisa is also in talks with NII Holdings Inc. (NASDAQ:NIHD) over its $1.44 billion investment in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Under Pressure

Posted: 12 Oct 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Under Pressure

Posted: 12 Oct 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Are Beans Overextended?

Posted: 12 Oct 2010 08:18 AM PDT

Fundamentals
Soybean futures gave back much of yesterday's gains, as many traders have become somewhat skeptical of the recent surge in prices. The price of the oilseed had risen to 16-month highs after last Friday's USDA report indicated that ending stocks for the 2010/2011 crop year could fall well short of previous estimates. Bean output is now pegged at 3.408 billion bushels, versus last month's estimate of 3.483 billion bushels. Also, yields were expected to rise, but instead fell to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

King In Pfizer’s Court

Posted: 12 Oct 2010 08:10 AM PDT

The pharmaceutical industry continues to be in acquisition mode with pharma giant Pfizer (NYSE:PFE) announcing its intention to acquire King Pharmaceuticals (NYSE:KG) for $3.6 billion. Pfizer and King Pharma have entered into a definitive merger agreement whereby Pfizer will acquire King Pharma for $14.25 per share.
Offer Price Represents 40% Premium
The offer price represents a 40% premium on King Pharma's closing price as of Oct 11, 2010. The Boards of both companies have approved the deal, which … [visit site to read more] or compare Best Credit Cards and Best CD Rates

King In Pfizer’s Court

Posted: 12 Oct 2010 08:10 AM PDT

The pharmaceutical industry continues to be in acquisition mode with pharma giant Pfizer (NYSE:PFE) announcing its intention to acquire King Pharmaceuticals (NYSE:KG) for $3.6 billion. Pfizer and King Pharma have entered into a definitive merger agreement whereby Pfizer will acquire King Pharma for $14.25 per share.
Offer Price Represents 40% Premium
The offer price represents a 40% premium on King Pharma's closing price as on Oct 11, 2010. The Boards of both companies have approved the deal, which … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chevron Sells Stake Of Colonial

Posted: 12 Oct 2010 08:10 AM PDT

U.S.oil major  Chevron Corporation (CVX) has agreed to sell its ownership interest in the U.S. oil products pipeline company Colonial Pipeline Company. The company sealed the deal with a private equity  firm Kohlberg Kravis Roberts & Company, in partnership with South Korea’s state-run National Pension Service ("NPS").
As per the agreement, Chevron will sell its 23.44% stake in Colonial. The deal was closed on October 8, 2010. Although the exact financial terms of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Shutterfly Upgraded To Outperform

Posted: 12 Oct 2010 08:10 AM PDT

We are upgrading our rating on Shutterfly Inc. (NASDAQ:SFLY), a leading provider of Internet-based social expression and personal publishing service, to Outperform form Neutral.
The rating was upgraded on a host of factors including better-than-expected earnings, seasonality of demand, continued margin expansion, strong demand for photo-book, and strategic partnerships.

Second Quarter Flashback

Shutterfly reported adjusted second quarter 2010 loss of $3.1 million or 12 cents per share versus the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Philips Acquires Dental Portfolio

Posted: 12 Oct 2010 08:10 AM PDT

Koninklijke Philips Electronics NV (NYSE:PHG) is set to acquire Discus Holdings Inc., a leading producer of professional tooth whitening products. The terms of the deal were not disclosed.
Apart from tooth whitening products, Discus' product offering also includes oral care, restoratives, endodontics and soft-tissue lasers. Some of the leading brands of Discus' tooth whitening products are Zoom®!, BriteSmile®, and NiteWhite®. Discus' products are used by dentists in more than 100 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Defense Deal For Computer Sciences

Posted: 12 Oct 2010 08:10 AM PDT

Virginia-based Computer Sciences Corp. (NYSE:CSC) announced that it received an engineering and test support services indefinite-delivery/indefinite-quantity (IDIQ) contract from the U.S. Missile Defense Agency (MDA), jointly with four other companies. The contract has a termination period of five years and is worth $1.6 billion in total.
 
Per the terms of the contract, Computer Sciences will provide engineering and test services to support Engineering and Test directorates of the Ballistic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Stays Below 200 Hour MA And Fibo Level At The 1.5860 Level

Posted: 12 Oct 2010 08:10 AM PDT

In the UK, larger trade deficit and elevated CPI inflation that remains above the 3.1% upper target moved the GBPUSD back higher toward the 200 hour MA (after selling off earlier in the day on the dollar strength) during the London session, but the price has since moved back lower in NY morning trading.  
Perhaps the market is discounting that the worst of the inflation is over and that going forward it might start to ease.  If you were to look at the MoM … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Around The Investment Globe In 5 Minutes

Posted: 12 Oct 2010 07:31 AM PDT

After not having posted articles for a while, the logical first bite at the cherry is a quick review of the overall investment landscape and major asset classes. Covering the globe necessitated a somewhat longer post than usual, but hopefully the read will be useful.
Global manufacturing: growth slowing rapidly
Manufacturing Purchasing Managers Indices ("PMIs") released for September indicate a rapid slowdown in global manufacturing growth.
On a GDP-weighted basis our global manufacturing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

I’m Back – Alive And Kicking!

Posted: 12 Oct 2010 07:29 AM PDT

As you might have guessed, I have taken a few weeks off for some R&R and to spend quality time with my family, including a cruise from Venice down the Adriatic Sea to a few Greek isles such as Mykonos and Corfu, and also mainland Greece. The pictures below should give you a taste … (More will be posted shortly on Facebook.)
The Du Plessis family (I, wife Isabel, and kids Monique and Jean) boarding the Splendour of the Seas for our first-ever cruise …

All dressed up to attend the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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