Tuesday, October 19, 2010

DailyMarkets.com - BP Sheds $1.8B Properties

DailyMarkets.com - BP Sheds $1.8B Properties

BP Sheds $1.8B Properties

Posted: 19 Oct 2010 12:05 PM PDT

BP plc (NYSE:BP) signed another deal to raise funds for paying spill costs. The U.K. oil major will divest its oil and gas properties in Vietnam and Venezuela to its Russian joint venture TNK-BP for $1.8 billion.
 
The assets in question hold reserves of 270 million barrels of oil equivalent (BOE) and production of 40,000 BOE per day.
 
BP is well on track with its $30 billion assets sale. So far, it has sold nearly $11.5 billion worth of assets including the $7 billion sale of onshore … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: EnCana Corporation

Posted: 19 Oct 2010 12:05 PM PDT

Leading natural gas producer, EnCana Corporation (ECA) is expected to report its third quarter 2010 earnings on Wednesday, October 20, 2010. The Zacks Consensus Estimate for the third quarter is 22 cents per share.
 
Second Quarter 2010 Recap
 
EnCana's operating earnings per share, excluding one-time items, came in at 11 cents, missing the Zacks Consensus Estimate of 22 cents and way below the year-ago quarter income of 63 cents.
 
Revenues (net of royalties) came in at $1.5 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bond, Junk Bond: A Casino Royale?

Posted: 19 Oct 2010 11:45 AM PDT

The Federal Reserve's (Fed) extraordinarily low interest rate policies have encouraged fixed income investors to take on evermore exposure to credit risks. With the global economic recovery looking more and more unstable with every new piece of economic data released, fixed income investors may be following a strategy akin to gambling at the roulette table. Investors may want to be careful not to let this transpire into a bad vacation in Vegas; we are concerned many investors may find … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Peabody Doubles Profits

Posted: 19 Oct 2010 11:35 AM PDT

St. Louis-based Peabody Energy Corporation (NYSE:BTU) reported third-quarter 2010 earnings of 99 cents per share, beating the Zacks Consensus Estimate of 91 cents. The company's profits almost doubled compared to  last year's earnings of 49 cents, driven by strong global demand for coal, particularly from China and India.
Revenue
Peabody's quarterly revenue, at $1.86 billion, increased 11% year-over-year on the back of a 36% rise in Australian revenues per ton. The company's revenue … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Manpower

Posted: 19 Oct 2010 11:35 AM PDT

Manpower Inc. (NYSE:MAN) is scheduled to report its third-quarter 2010 financial results before the bell on Wednesday, October 20, 2010. The current Zacks Consensus Estimate for the quarter is 47 cents a share.
We believe that the company is better positioned than its competitors for the economic recovery. The company's comprehensive range of services makes it a true global staffing firm.
 
Second-Quarter 2010, A Synopsis
Manpower posted better-than-expected second-quarter 2010 results … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Label Expansion At Bristol-Myers

Posted: 19 Oct 2010 11:35 AM PDT

Recently, Bristol-Myers Squibb Co. (NYSE:BMY) received a boost with the US Food and Drug Administration (FDA) approving Baraclude (entecavir) for an additional indication. The current approval by the US regulatory authorities allows Bristol-Myers to market Baraclude for treating a more serious form of liver disease than hepatitis B virus (HBV), for which it is one of the top prescribed therapies.
The latest approval allows Baraclude to be marketed for treating adults suffering from chronic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Falls From 2-week High

Posted: 19 Oct 2010 11:15 AM PDT

10/19/10 Front month crude prices reversed yesterday’s rally on speculation fuel demand has decreased and that stockpiles will remain … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Harley Meets Expectations

Posted: 19 Oct 2010 11:05 AM PDT

Harley-Davidson Inc. (NYSE:HOG) posted a 66% rise in profit to $93.7 million or 40 cents per share in the third quarter of the year from $56.4 million or 24 cents per share in the same quarter a year ago. The profit was in line with the Zacks Consensus Estimate.
 
The increase in profit was attributable to the company's aggressive restructuring actions, incorporated in its go-forward business strategy, as well as improvement in profit in Harley-Davidson Financial Services.
 
Operating … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genzyme Corp: Earnings Preview

Posted: 19 Oct 2010 11:05 AM PDT

Genzyme Corp. (NASDAQ:GENZ) is slated to announce its third quarter results on October 20. The Zacks Consensus Estimate is 33 cents, well above the year-earlier earnings. We note that performance in the second half of 2009 was heavily impacted by the temporary shutdown of the company's Allston Landing manufacturing facility, which affected the supply of key products. 

Second Quarter Highlights

Genzyme reported second quarter earnings of 6 cents per share (excluding one-time items but … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Warmer Quarter For AEP

Posted: 19 Oct 2010 10:35 AM PDT

Before the bell, American Electric Power Company Inc. (NYSE:AEP) reported strong third quarter fiscal 2010 results. In the reported quarter, the company comfortably beat the Zacks Consensus Estimate of $1.04 by 11 cents with an EPS of $1.15. The company's results also climbed from the year-ago quarterly EPS of 93 cents. Earnings in the reported quarter were boosted by a warmer climate throughout its entire service territory while industrial sales recorded growth for two consecutive … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AIG’s AIA IPO Closes In Advance

Posted: 19 Oct 2010 10:05 AM PDT

Given the ramp up in the demand for shares of American International Group Inc.'s (NYSE:AIG) Asian life-insurance unit, American International Assurance Group Ltd. (AIA), on Monday, AIG decided to close the AIA initial public offering (IPO) two days earlier than scheduled. Consequently, the institutional book for AIA's IPO is set to close today, while raising about $20.6 billion, higher than over $15 billion previously expected.
The decision was taken on the back of strong demand, modest … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Omnicom Meets Zacks Estimate

Posted: 19 Oct 2010 10:05 AM PDT

Omnicom Group Inc. (NYSE:OMC) posted another strong quarter with year-over-year increases of 5.4% and 5.5% in net income and revenue base, respectively, for the third quarter of fiscal 2010.
During the quarter, net income grew 5.4% year over year to $174.6 million from $165.6 million in the third quarter of fiscal 2009. EPS also stretched by 4 cents from 53 cents in the year-ago quarter to 57 cents in the reported quarter. Reported EPS coincided with the Zacks Consensus Estimate of 57 cents.
Total … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMC Reports Strong 3Q

Posted: 19 Oct 2010 10:05 AM PDT

EMC Corporation (NYSE:EMC) reported strong third quarter 2010 results, with earnings up 47.1% year over year to 25 cents per share versus 17 cents in the third quarter of 2009. Earnings per share (including stock-based compensation but excluding restructuring charges) beat the Zacks Consensus Estimate of 24 cents by a penny. The year-over-year growth was primarily driven by strong revenue growth in the quarter.
Revenue
Revenues increased 19.7% year over year to $4.21 billion in the third quarter. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Warning Signs Of A U.S. Stock Market Correction

Posted: 19 Oct 2010 09:45 AM PDT

We’re now starting to see warning signs pop up that a correction is imminent.

Despite the market making new highs breadth is diverging badly. Aka the market is being driven higher by fewer and fewer stocks. When this starts to happen late in the daily cycle a correction isn’t far away.

We now have a large divergence in the McClellan oscillator.

If we happen to see a down day today the slower 10 day moving average will turn down and join the faster 5 day average on the new … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BNY Mellon Misses Marginally

Posted: 19 Oct 2010 09:35 AM PDT

The Bank of New York Mellon Corporation's (NYSE:BK) third-quarter earnings from continuing operations of 51 cents per share came in 3 cents below the Zacks Consensus Estimate of 54 cents. However, this compares favorably with a loss of $2.04 in the year-ago quarter.
BNY Mellon experienced sequential and year-over-year increases in assets under custody and administration during the reported quarter. Increased securities servicing fees, improved provision for credit losses and continued long-term … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lincare EPS In Line, Sales Misses

Posted: 19 Oct 2010 09:35 AM PDT

Lincare Holdings (NASDAQ:LNCR), a leading provider of oxygen and respiratory therapies, reported third quarter fiscal 2010 results after the closing bell on October 18. Earnings per share of 47 cents matched the Zacks Consensus Estimate while increasing from 36 cents a year-ago.
Net income surged 26.2% year-over-year to $45.5 million riding on higher sales. Revenues rose 6.6% year-over-year to $418.7 million, but missed the Zacks Consensus Estimate of $422 million. Results included an unfavorable … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bonds And Helicopter Money

Posted: 19 Oct 2010 09:18 AM PDT

Fundamentals
Many Bond traders seem to believe that the Fed will step-up its purchases of Bonds and other assets. The central bank has zero wiggle room with regard to actual interest rate policy, leaving the asset purchase program as one of the only means of injecting liquidity. As a result of these expectations and the fact that not everyone is sold on the sustainability of the current market rally, Bonds have been especially resilient. Given the fact that commodities have rallied so strongly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Interactive Maps For Crime And Weed

Posted: 19 Oct 2010 09:11 AM PDT

You can check crime reports by address or zipcode at the CrimeReports website, and you can even check to see where any registered sex offenders live, and see his or her picture.  The map above shows all the reported crimes over the last 30 days near the White House, and one of the registered sex offenders in the neighborhood.   

At another website called WeedMap, you can find legal marijuana dispensaries by address or zip code, see an example map below for San … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goldman Sachs: Support & Resistance To Watch

Posted: 19 Oct 2010 09:10 AM PDT

As can be seen from the chart below, 158 remains a key level for Goldman Sachs (NYSE:GS) and a break of this level, could lead to a big move to the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Illinois Tool 3Q Beats Estimate

Posted: 19 Oct 2010 09:05 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) reported encouraging results for the third quarter of 2010. Earnings per share from continuing operations were 83 cents, up 38% compared with 60 cents in the comparable quarter of 2009. EPS in the quarter surpassed the Zacks Consensus Estimate of 82 cents by a penny and was toward the high-end of the company's guidance range of 72–84 cents.
Net income from continuing operations soared 38.6% year over year to $419.3 million, compared with $302.4 million in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Parker Hannifin Beats

Posted: 19 Oct 2010 09:05 AM PDT

Parker Hannifin Corporation (NYSE:PH) released its first quarter fiscal 2011 earnings result before the opening bell today, reporting earnings per share from continuing operations of $1.51. The company surpassed the Zacks Consensus Estimate of $1.07. Earnings for the period was more than three times the earnings of 45 cents in first quarter of fiscal 2010.
Revenue
Total revenue for the quarter was $2.8 billion, representing a year-over-year increase of 26.5% and also above the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Occidental Beats Estimate

Posted: 19 Oct 2010 09:05 AM PDT

Occidental Petroleum Corporation (NYSE:OXY) announced third quarter 2010 operating earnings of $1.47 per share versus $1.14 in the year-ago quarter, reflecting a growth of 28.9%. The third quarter result surpassed the Zacks Consensus Estimate of $1.37 by 10 cents.
Total Revenue
Occidental’s total operating revenue for third quarter 2010 was $4.9 billion versus $4.1 billion reported in the year-ago quarter, reflecting a growth of 19.3%. The actual results of the company were higher than the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bank Of America: Support & Resistance To Watch

Posted: 19 Oct 2010 08:51 AM PDT

Due to rapid fall in Bank of America (NYSE:BAC) last week, it does not face much overhead resistance at 12 levels. It gapped down from 13.25 to 13.03 last week, so gap resistance should be expected at 13.03. Otherwise too, there is strong resistance at 13.02 to 13.05 levels. If there is no clear resistance in the vicinity, the same goes for resistance too. A break of Friday’s low and it could be a steep ride … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New York Times Beats, Earnings Drop

Posted: 19 Oct 2010 08:35 AM PDT

The New York Times Company (NYSE:NYT) this morning posted better-than-expected third-quarter 2010 results. The quarterly earnings of 7 cents a share beat the Zacks Consensus Estimate of 5 cents, but dropped more than 50% from 16 cents earned in the prior-year quarter.
On a reported basis, including one-time items, the company posted a quarterly loss of 3 cents compared to a loss of 25 cents delivered in the year-ago quarter.
The New York Times also registered a drop in top-line during the quarter. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

United Gains On Higher Revenues, Ups Estimates

Posted: 19 Oct 2010 08:35 AM PDT

United Health Group (NYSE:UNH) has kicked off the earnings season for the health insurance group by reporting core operating earnings of $1.14 cents per share. The earnings are well ahead of the Zacks Consensus Estimate of 84 cents. Earnings also compares favorably with the 89 cents reported in the prior year quarter.
 
Better than expected earnings sprang from higher total revenues which increased 9.0% year over year to $23.7 billion. The Zacks Consensus Estimate predicted revenues of $23.3 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Weatherford Beats By A Penny

Posted: 19 Oct 2010 08:15 AM PDT

Leading oilfield services company Weatherford International Ltd. (NYSE:WFT) reported better-than-expected third quarter 2010 adjusted earnings of 18 cents per share. The results surpassed the Zacks Consensus Estimate of 17 cents and year-earlier profit of 9 cents. The improvement was mainly driven by continued strength in North America, which was offset by lackluster international results.
Total revenue in the quarter increased 18% year over year to $2.5 billion, but was below the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

IBM’s 3rd Quarter, In Depth

Posted: 19 Oct 2010 08:15 AM PDT

Tech giant International Business Machines Corp. (NYSE:IBM) reported third quarter 2010 earnings that beat the Zacks Consensus Estimate. The current quarter profitability was fueled by margin expansion due to a shift to the higher-margin software business, increased sales in emerging and growth markets and higher development in the hardware, software and services businesses.
Revenues came in slightly above the Zacks Consensus Estimate with the strongest performance coming from its hardware … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Coca-Cola Q3 Profit Rises

Posted: 19 Oct 2010 08:15 AM PDT

Coca-Cola Co.'s (NYSE:KO) third-quarter GAAP earnings grew 7.8% to $2.1 billion from $1.9 billion in the year-ago quarter. Excluding special items, adjusted earnings per share came in at 92 cents, which surpassed both the Zacks Consensus Estimate of 89 cents as well as the year-ago result by 12%. The better-than-expected results were driven by volume growth and improved margin performance.

Quarterly Details

During the quarter, Coca-Cola's net revenues rose 4.7% to $8.4 billion from $8.0 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goldman Sachs Tops Estimates

Posted: 19 Oct 2010 08:15 AM PDT

The Goldman Sachs Group Inc.'s (NYSE:GS) third quarter 2010 earnings per share of $2.98 were significantly ahead of the Zacks Consensus Estimate of $2.29. Goldman's impressive results reflected strong performance in Investment Banking and lowered operating expenses. Though economic conditions were challenging, the company gained from a solid balance sheet.
Net income in the quarter was $1.9 billion, compared with $613 million in the prior quarter and $3.2 billion in the prior-year … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Royal Caribbean Upped To Outperform

Posted: 19 Oct 2010 08:15 AM PDT

We are upgrading our rating on Miami-based Royal Caribbean Cruises Ltd. (NYSE:RCL) to Outperform form Neutral. Royal Caribbean is the second largest company in the cruise vacation industry.
The rating was upgraded on a host of factors including strong booking momentum, improvement in net yield, efficient expense control, seasonality of demand and a slowdown in industry capacity.
Royal Caribbean reported adjusted second quarter 2010 non-recurring earnings of 28 cents per share, well ahead of Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pfizer-Biocon In Diabetes Deal

Posted: 19 Oct 2010 08:15 AM PDT

Pfizer (NYSE:PFE) recently entered into a global agreement with Indian biotech company Biocon, for certain diabetes biosimilars. The deal relates to the global commercialization of biosimilar versions of insulin and insulin analog products like recombinant human insulin, glargine, aspart and lispro.
Terms of the Deal
Per the terms of the deal, Pfizer will commercialize these products across the world excluding certain territories. The company will share commercialization rights with Biocon for all … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forest Labs Beats, Raises Outlook

Posted: 19 Oct 2010 08:15 AM PDT

Forest Laboratories, Inc. (NYSE:FRX) reported earnings per share of $1.00 for the second quarter of fiscal 2011, beating the Zacks Consensus Estimate of 93 cents and the year-earlier earnings of 85 cents. Strong Namenda sales, lower R&D spend and lower share count boosted earnings. Including one-time items, earnings came in at 61 cents per share.
Second quarter revenues increased 2.3% to $1.09 billion, with net sales increasing 7.7% to $1.04 billion. Total revenues topped the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sierra Monitor Poised For Growth

Posted: 19 Oct 2010 08:15 AM PDT

Sierra Monitor Corporation (SMRC) designs and develops hazardous gas monitoring devices for the protection of personnel and facilities in industrial workplaces. Through its subsidiary FieldServer Technologies, the firm has branched into protocol translation technology, which enables machine to machine (M2M) communication in energy and building automation applications.

This high-growth business should complement the gas detection business, while not sacrificing market or margins. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Key ST Resistance At 10725

Posted: 19 Oct 2010 08:14 AM PDT

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

Canadian Dollar: The Downside Prevails

Posted: 19 Oct 2010 08:14 AM PDT

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

Forex Trading: EURUSD Needs To Break 1.3775 Next

Posted: 19 Oct 2010 08:08 AM PDT

Coca-Cola’s Net Income Rise 8.4%

Posted: 19 Oct 2010 07:41 AM PDT

10/19/10 the world’s largest soft drink maker said tuesday that its net income rose 8.4% during the previous … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: BAC, GS, AAPL, LMT

Posted: 19 Oct 2010 02:26 AM PDT

10/19/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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