DailyMarkets.com - Confident Enough To Quit

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• Confident Enough To Quit
• Acquisitions Fuel Growth At CrowdGather
• AIV Modifies Credit Agreement
• Third Quarter Oil & Gas Deals Reach $85 Billion On Back Of Colossal Petrobras Pre-Salt Deal
• QE2: How New Quantitative Easing Is Very Good News For Emerging-Market Stocks
• Earnings Preview: Alcoa Inc.
• Watson Pharma Inks Deal
• Forex Trading: EURUSD Now Has Risk Up To The 1.3923 Level
• Transocean Upped To Neutral
• Good News For MDCO
• Cell Therapeutics Cut To Underperform
• 37% Of The S&P 500 Is Trading At 52-Week Highs
• Sanofi Makes Hostile Bid
• Statoil Extends AGR Contract
• Good News For Dynavax Pipeline
• Federal Capital Partners Sell Assets
• Tesoro Penalized For Refinery Explosion
• How Big Is The Punch Bowl?
• Is International Speedway Corp (ISCA) Undervalued?
• Three Simple Rules That Explain Everything
• Moody’s Upgrades Navistar
• CSX Hikes Quarterly Dividend Rate
• PepsiCo Reports In Line
• Swiss Franc: Under Pressure
• Australian Dollar: Under Pressure
• Canadian Dollar: Under Pressure
• Japanese Yen: The Downside Prevails
• British Pound: Under Pressure
• Euro: Under Pressure
• Astec Upgraded To Neutral
• CSX Hikes Quarterly Dividend Rate
• Moody’s Upgrades Navistar
• Jamba And Nestlé To Team Up Again
• ProLogis Leases In Europe
• Can Crude Finally Break Through?
• Sempra Energy Ups Storage Capacity
• Novatel Unveils 4G Portfolio
• Moody’s Upgrades Navistar
• Initial Jobless Claims Fall Again
• Cosan Opens First Plant In Caarapó

Confident Enough To Quit Posted: 07 Oct 2010 12:05 PM PDT In August, the total number of job openings in the country rose by 60,000, which, in the context of the 3.201 million total, is pretty close to unchanged. However, over the last year, the total number of job openings is up by 790,000, or 32.8%. Looking at only private sector openings, they were up by 28,000 on the month, and are up by 751,000 over the last year. Keep in mind that this is August data, and we will be getting data on September tomorrow. This comes from the Job Openings and Labor … [visit site to read more]

Acquisitions Fuel Growth At CrowdGather Posted: 07 Oct 2010 12:05 PM PDT CrowdGather, Inc. (CRWG) is an Internet company that specializes in the development and hosting of forum-based Web sites. The firm endeavors to monetize a network of online forums and message boards. Forums remain a much undervalued part of the Internet pie at $4.8 billion, and CrowdGather is the only public company dedicated to monetizing this area. More page results equate to more revenue as page views have jumped from 12 million to 80 million through several mergers. CRWG is now in … [visit site to read more]

AIV Modifies Credit Agreement Posted: 07 Oct 2010 12:05 PM PDT Apartment Investment and Management Company, or Aimco (NYSE:AIV) as the real estate investment trust (REIT) is popularly known, has recently amended its revolving credit facility to strengthen its liquidity. The borrowings under the new credit facility will bear an interest rate of LIBOR +1.5%, effectively reducing the interest rate under the facility by 0.5%. The new facility increases its borrowing capacity from $180 million to $300 million, and extends the maturity of the same from May 2012 to … [visit site to read more]

Third Quarter Oil & Gas Deals Reach $85 Billion On Back Of Colossal Petrobras Pre-Salt Deal Posted: 07 Oct 2010 11:45 AM PDT The value of deals announced reached $85 billion in the global E&P sector during Q3 2010, driven by the massive $42.5 billion deal between Petrobras (NYSE:PZE) and the government of Brazil and strategic reorganisations of assets by super-majors including BP (NYSE:BP) and ConocoPhillips (NYSE:COP). That's according to Evaluate Energy's Global M&A database (www.evaluateenergy.com) which tracks all global E&P deals on a daily basis. Excluding the Petrobras deal, total value is still … [visit site to read more]

QE2: How New Quantitative Easing Is Very Good News For Emerging-Market Stocks Posted: 07 Oct 2010 11:45 AM PDT In Wall Street circles, it’s known as “QE2″ – for “Quantitative Easing – Round 2.” The U.S. Federal Reserve and the Bank of England (BOE) are moving rapidly towards it, and the Bank of Japan (BOJ) has pledged to enact it. That Bank of Japan pledge ignited a $23.50 spike in the price of gold on Tuesday. But that’s nothing compared to what would happen after a Fed move. An additional easing by the U.S. central bank would cause gold and commodity prices to spike – and emerging-market … [visit site to read more]

Earnings Preview: Alcoa Inc. Posted: 07 Oct 2010 11:35 AM PDT Alcoa Inc. (NYSE:AA), the U.S. aluminum giant, is scheduled to report its third-quarter 2010 results after the markets close today. For the quarter, analysts are looking for net earnings of 6 cents per share versus last year's 4 cents. The full year 2010 estimate is pegged at 45 cents. Alcoa has reported mixed results in the past few quarters. The company has reported losses from the last quarter of 2008 until the second quarter of 2009, affected by the economic turmoil. The third quarter of … [visit site to read more]

Watson Pharma Inks Deal Posted: 07 Oct 2010 11:35 AM PDT Watson Pharmaceuticals, Inc. (NYSE:WPI) continues to expand and strengthen its footprint in ex-US territories. The company recently inked a deal with Brazilian company, Moksha8, for the manufacture and supply of certain products.    Terms of the Deal   Under the terms of the deal, Watson Pharma will provide Moksha8 with specific products that will be marketed, sold, and distributed exclusively by the latter in Brazil and Mexico. The companies will initially start with a dozen … [visit site to read more]

Forex Trading: EURUSD Now Has Risk Up To The 1.3923 Level Posted: 07 Oct 2010 11:06 AM PDT The move down in the EURUSD to the 1.3858 level . The price fell below the 38.2% retracement of the move up from the last leg up at the 1.3876 level but has since rebounded back higher.  If the trend down is to continue the price will need to stay below resistance levels above.  The first retracement level is the 38.2% retracement of the move down from the high today to the low. That level comes in at the 1.3923 level.  The second key level to stay below is the 1.3938 … [visit site to read more]

Transocean Upped To Neutral Posted: 07 Oct 2010 11:05 AM PDT We have upgraded offshore driller Transocean Inc. (RIG) shares to Neutral from Underperform, reflecting our belief that the market is overestimating the company's legal liability associated with the Gulf of Mexico ("GoM") oil spill.   As a reminder, on April 20, Transocean's ultra-deepwater Horizon drilling platform, contracted to British major BP plc (BP), sank following an explosion while operating in the U.S. GoM off the coast of Louisiana. The incident killed 11 workers and … [visit site to read more]

Good News For MDCO Posted: 07 Oct 2010 11:05 AM PDT The Medicines Company's (NASDAQ:MDCO) efforts to extend the patent life of its lead product Angiomax continue to progress on a positive note. The company recently announced that the US Government has not filed an appeal against the Aug 3, 2010 decision issued in favor of The Medicines Company by the US District Court for the Eastern District of Virginia.   In its Aug 3 ruling, the court had ordered the US Patent and Trademark Office (PTO) to treat the company's patent term extension … [visit site to read more]

Cell Therapeutics Cut To Underperform Posted: 07 Oct 2010 11:05 AM PDT We are downgrading Cell Therapeutics, Inc. (CTIC) to Underperform from Neutral with a price target of $0.25 primarily due to the uncertainty surrounding the US approval of its lead candidate, pixantrone. Pixantrone (proposed trade name: Pixuvri), is currently under development for the treatment of relapsed or refractory aggressive non-Hodgkin's lymphoma (NHL) in patients who have not responded to other treatment options.   Cell Therapeutics Inc., based in Seattle, Washington, is … [visit site to read more]

37% Of The S&P 500 Is Trading At 52-Week Highs Posted: 07 Oct 2010 10:35 AM PDT If it seems like every stock you own or watch is breaking out to new highs, you’re almost right. As the September rally has continued into October, it has pushed 37.4% of the stocks on the S&P 500 to either new 52-week highs or within a fraction of that high. While it is an diverse group of companies, from food companies, to apparel, to integrated oil, to hotels that are hitting new highs, one group stood out from the pack: the utilities. Yes, the one area most investors consider dull and … [visit site to read more]

Sanofi Makes Hostile Bid Posted: 07 Oct 2010 10:35 AM PDT   French pharma giant Sanofi-Aventis (NYSE:SNY) recently went hostile with its bid to acquire biotech company Genzyme Corporation (NASDAQ:GENZ). Sanofi has launched a tender offer for all outstanding shares of Genzyme – the offer is scheduled to expire on Dec 10. Sanofi's offer price stands at $69 per share with the entire deal being valued at $18.5 billion.   The $69 offer price represents a 38% premium over Genzyme's share price on July 1, 2010. Rumors regarding Sanofi's intention … [visit site to read more]

Statoil Extends AGR Contract Posted: 07 Oct 2010 10:35 AM PDT Statoil ASA (NYSE:STO) has extended its existing service contract with AGR Field Operations by two more years. The extension has an estimated total value of NOK 40 million (approximately $6.8 million) over a period of 24 months. Under the agreement, AGR will supply surface management services to 13 offshore installations and the Sture onshore terminal. Apart from the current extension, AGR is already involved with Statoil for the remaining 31 installations on the Norwegian continental shelf … [visit site to read more]

Good News For Dynavax Pipeline Posted: 07 Oct 2010 10:05 AM PDT Recently, Dynavax Technologies Corp. (NASDAQ:DVAX) received a boost when its lead candidate, Heplisav, a vaccine under development for treating patients suffering from the hepatitis B virus (HBV) proved to be superior to GlaxoSmithKline plc's (NYSE:GSK) HBV vaccine, Engerix-B (the current standard of care).   These results were published on the website of the 61st annual meeting of the American Association for the Study of Liver Diseases (AASLD). The Dynavax vaccine (two doses over 4 weeks) … [visit site to read more]

Federal Capital Partners Sell Assets Posted: 07 Oct 2010 10:05 AM PDT This article has been unpublished. Walter, need new … [visit site to read more]

Tesoro Penalized For Refinery Explosion Posted: 07 Oct 2010 10:05 AM PDT The Washington State Department of Labor & Industries ("L&I") imposed a hefty fine of $2.39 million on Tesoro Corporation (TSO) for the April 2, 2010, deadly explosion at the company's Anacortes refinery. The state government commentated that the blast, which killed seven workers, could have been avoided. After a six month long investigation, the Washington sate regulators concluded that Tesoro's indifferent and careless attitude caused the mishap. Tesoro has been held … [visit site to read more]

How Big Is The Punch Bowl? Posted: 07 Oct 2010 10:00 AM PDT Party on. In watching a midday Bloomberg interview, the host Tom Keene asked his guests just how big the punch bowl will be that Fed chair Ben Bernanke puts in front of investors at the next Fed meeting. The punch bowl being the size of the highly anticipated second round of Federal Reserve quantitative easing that is driving interest rates lower and asset prices higher.   While this punch bowl may be smaller than the initial party launched in 2009, the fact is expectations … [visit site to read more]

Is International Speedway Corp (ISCA) Undervalued? Posted: 07 Oct 2010 09:59 AM PDT By Ben Strubel President of Strubel Investment Management (http://www.strubelim.com) a Registered Investment Advisor in PA that manages investment portfolios for clients using a value investing philosophy. He also publishes a monthly newsletter The Value Investor's Edge. The best type of business to own is a monopoly. Unfortunately, in the United States monopolies are not legal (and for good reason, monopolies are usually bad for consumers). There is one huge exception, professional sports … [visit site to read more]

Three Simple Rules That Explain Everything Posted: 07 Oct 2010 09:53 AM PDT I’m intrigued by two dramatically different charts that I’d like to bring to your attention: EEM and GLD. I’ve superimposed onto both of these the S&P 500 (in blue) for comparison purposes. Before saying another word, let me show you what I’m talking about (click on images to enlarge): EEM vs. S&P 500 The take-away from this chart is that both the U.S. and the Emerging Markets had similar declines from the 2007 to the 2010 peaks, EEM has be able to break above that trendline (solid … [visit site to read more]

Moody’s Upgrades Navistar Posted: 07 Oct 2010 09:35 AM PDT Moody’s Investors Service, the credit rating agency of Moody’s Corporation (NYSE:MCO), raised its ratings outlook on Navistar International Corp. (NYSE:NAV) from "Stable" to "Positive." The ratings upgrade was based on a recovery in the medium and heavy truck markets. The U.S. government is one of Navistar’s dedicated customers, which provides stability to the company's sales. The company continues to derive about 25% of its revenues from the U.S. government. Most of its existing U.S. … [visit site to read more]

CSX Hikes Quarterly Dividend Rate Posted: 07 Oct 2010 09:35 AM PDT Jacksonville, Florida-based CSX Corporation's (NYSE:CSX) board of directors have approved an 8.0% hike in the company's quarterly dividend rate. The revised quarterly rate now stands at 26 cents per common share compared with 24 cents previously, resulting in an annual rate of $1.04 per common share. The revised dividend will be paid on December 15, to shareholders as of the close of business on November 30.   CSX Corporation follows a consistent policy of returning cash to shareholders … [visit site to read more]

PepsiCo Reports In Line Posted: 07 Oct 2010 09:35 AM PDT PepsiCo Inc. (NYSE:PEP), which has the world’s largest portfolio of food and beverage brands, delivered robust third quarter 2010 results for the 12-week period ending on September 4, 2010. New York-based PepsiCo's core earnings advanced to $1.22 per share in the quarter from $1.09 registered in the year-ago period, in-line with the Zacks Consensus Estimate. The year-over-year growth reflects the acquisition of its two anchor bottlers, broad-based gains across its snack and beverage portfolio … [visit site to read more]

Swiss Franc: Under Pressure Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

Australian Dollar: Under Pressure Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Under Pressure Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Downside Prevails Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: Under Pressure Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: Under Pressure Posted: 07 Oct 2010 09:18 AM PDT Update on supports and resistances. … [visit site to read more]

Astec Upgraded To Neutral Posted: 07 Oct 2010 09:05 AM PDT We upgrade our recommendation to Neutral for Astec Industries Inc. (NASDAQ:ASTE), which means the stock will perform mostly in line with the broader market. We believe President Obama's recent announcement of a $50 billion plan to rebuild U.S. infrastructure bodes well for Astec and somewhat offsets the concerns regarding the lack of visibility of a renewal of the Highway Bill for the time being. A large number of Astec's customers depend substantially on government funding for highway … [visit site to read more]

CSX Hikes Quarterly Dividend Rate Posted: 07 Oct 2010 09:05 AM PDT Jacksonville, Florida-based CSX Corporation's (NYSE:CSX) board of directors have approved an 8.0% hike in the company's quarterly dividend rate. The revised quarterly rate now stands at 26 cents per common share compared with 24 cents previously, resulting in an annual rate of $1.04 per common share. The revised dividend will be paid on December 15, to shareholders as of the close of business on November 30.   CSX Corporation follows a consistent policy of returning cash to shareholders … [visit site to read more]

Moody’s Upgrades Navistar Posted: 07 Oct 2010 08:35 AM PDT Moody’s Investors Service, the credit rating agency of Moody’s Corporation (NYSE:MCO), raised its ratings outlook on Navistar International Corp. (NYSE:NAV) from "Stable" to "Positive." The ratings upgrade was based on a recovery in the medium and heavy truck markets. The U.S. government is one of Navistar’s dedicated customers, which provides stability to the company's sales. The company continues to derive about 25% of its revenues from the U.S. government. Most of its existing U.S. … [visit site to read more]

Jamba And Nestlé To Team Up Again Posted: 07 Oct 2010 08:35 AM PDT California-based Jamba Inc. (NASDAQ:JMBA), a leading restaurant retailer of food and beverage offerings, announced on Tuesday that it will renew its partnership with Nestlé USA, part of Nestlé SA to develop a new ready-to-drink beverage line. The beverage line will be sold at retail counters in the Northeastern United States by early 2011. Both Jamba Juice and Nestlé USA plan to capitalize on their respective product development talents to create a differentiated line of energy drinks within the … [visit site to read more]

ProLogis Leases In Europe Posted: 07 Oct 2010 08:35 AM PDT ProLogis (NYSE:PLD), a leading global provider of distribution facilities, has recently signed three new lease agreements spanning about 449,000 square feet of its development portfolio in Europe. The continued leasing activities in the region show signs of stabilization in the industrial property market after a prolonged recession that pushed back the sector. ??????About 273,000 square feet of space were leased to an unnamed global logistics and freight services company. The lessee will occupy … [visit site to read more]

Can Crude Finally Break Through? Posted: 07 Oct 2010 08:10 AM PDT Fundamentals Crude Oil futures finished higher yesterday, despite giving back most of its early gains. The EIA report showed a build of 3.1 million barrels of Crude Oil, which was much higher than many had expected. Petroleum products, however, did have drawdowns, neutralizing the bearish Oil number. This is an employment report week, with ADP Employment, Initial Claims and Nonfarm Payrolls all being released this week, which could make trading through the end of the week choppy. Yesterday's … [visit site to read more]

Sempra Energy Ups Storage Capacity Posted: 07 Oct 2010 08:10 AM PDT Sempra Energy (NYSE:SRE) announced that its natural gas storage capacity is enhanced by 5 billion cubic feet (Bcf) with the commissioning of the Cavern 4 at Bay Gas Storage facility in Alabama. The expansion of the facility was undertaken by the company's business unit Sempra Pipeline and Storage. Sempra's natural gas storage facility, Bay Gas Storage, had a storage capacity of 11.4 Bcf, which was increased to 16.4 Bcf when Cavern 4 was pressed into service. The company is planning to further … [visit site to read more]

Novatel Unveils 4G Portfolio Posted: 07 Oct 2010 08:10 AM PDT Recently, Novatel Wireless Inc. (NASDAQ:NVTL) has launched an innovative product portfolio for customer broadband access capable of supporting next-generation (4G) super-fast wireless broadband networks of WiMAX and LTE. The portfolio includes LTE embedded modules, USB devices and WiMAX-capable MiFi Intelligent mobile hotspots. Just two weeks ago, Novatel has introduced Ovation MC545 USB modem for Dual-Carrier HSPA+ networks. Ovation MC545 theoretically supports downlink speed of 42 Mbps and uplink … [visit site to read more]

Moody’s Upgrades Navistar Posted: 07 Oct 2010 08:10 AM PDT Moody’s Investors Service, the credit rating agency of Moody’s Corporation (NYSE:MCO), raised its ratings outlook on Navistar International Corp. (NYSE:NAV) from "Stable" to "Positive." The ratings upgrade was based on a recovery in the medium and heavy truck markets. The U.S. government is one of Navistar’s dedicated customers, which provides stability to the company's sales. The company continues to derive about 25% of its revenues from the U.S. government. Most of its existing U.S. … [visit site to read more]

Initial Jobless Claims Fall Again Posted: 07 Oct 2010 08:10 AM PDT Initial Claims for Unemployment Insurance fell by 11,000 last week to 445,000. That is the second week in a row, and the sixth in the last seven weeks that initial claims have declined. Since claims can be volatile from week to week, it is better to track the four-week moving average to get a better sense of the trend. It declined by 3,000 to 45,750. After declining sharply in the second half of 2009, the four-week moving average has been stuck in a tight “trading range.” In mid-August, the … [visit site to read more]

Cosan Opens First Plant In Caarapó Posted: 07 Oct 2010 08:10 AM PDT The Cosan Group (NYSE:CZZ) recently inaugurated its first sugar and ethanol plant in the city of Caarapó , situated in the State of Mato Grosso do Sul. The plant, with a processing and crushing capacity of approximately 2.5 million tons of sugarcane, will produce around 90 million liters of ethanol and 185,000 tons of sugar per harvest. The Group invested roughly R$530 million on the mill, with about R$275 million financed by BNDES (Banco Nacional de Desenvolvimento Econômico e Social), … [visit site to read more]

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