DailyMarkets.com - IMF Warns Of Slower Economic Growth As Currency War Rages On
DailyMarkets.com - IMF Warns Of Slower Economic Growth As Currency War Rages On |
- IMF Warns Of Slower Economic Growth As Currency War Rages On
- Nobel Prize In Economics Odds
- Both Gold And Crude Reverse Sharply As Risk Appetite Stalls, ECB Disappoints
- Ford To Cut 33% Of Lincoln Dealers
- BofA To Focus On Direct Lending
- Iron Mountain Falls On Weak Outlook
- Downside Risk In U.S. Stock Market Mitigated By Fed, Economy & Technicals
- Analyst Interviews: REIT Industry Outlook
- Steel Dynamics Adds Capacity
- Equinix Revision Hits Hard
- Initiating Chesapeake Financial At Neutral
- Whitney Tilson From The Value Investing Congress (2008)
- Honeywell’s Air Traffic Control
- Buffalo Wild Wings On Expansion Track
- Alcoa Leads Off With Improvement
- Internet Explorer Browser Share Falls Below 50%
- Caveman Thinking And Our Protectionist Instinct
- Washington Post To Enhance Returns
- Newell Upgraded To Neutral
- Jacobs’ Five-Year Contract
- PAC Records High Mexican Traffic
- Weekly Rail Traffic Maintains Steady Growth
- Complexity A Good Thing For InTEST
- Aug. Private Sector Job Openings +36% Vs. 2009
- The Secret Big-Money Takeover Of America
| IMF Warns Of Slower Economic Growth As Currency War Rages On Posted: 07 Oct 2010 05:01 PM PDT Meetings of the Group of Seven (G-7) countries in Washington this week could feature a clash of views that have sparked an international currency war even as the International Monetary Fund (IMF) warned that growth in developed economies is slowing. The conflict represents a fundamental disagreement about how to sustain the global economic recovery among countries that prefer flexible exchange rates like the United States, and others that are resisting calls to allow its currency to … [visit site to read more]
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| Posted: 07 Oct 2010 04:57 PM PDT The Nobel Prize for Economics will be announced next Monday, October 11 in Sweden. From the New Zealand-based prediction website iPredict, here are the current odds for winners: Richard Thaler: 24.35% Oliver Hart: 24% Robert Shiller: 20.86% Jean Tirole: 19.78% Martin Weitzman: 17.50% William Norhaus: 16.80% Angus Deaton: 11.24% Eugene Fama: 8.32% Avinash Dixit: 7.82% Robert Barro: … [visit site to read more]
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| Both Gold And Crude Reverse Sharply As Risk Appetite Stalls, ECB Disappoints Posted: 07 Oct 2010 04:30 PM PDT North American Commodity Update
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| Ford To Cut 33% Of Lincoln Dealers Posted: 07 Oct 2010 03:35 PM PDT Ford Motor Co. (NYSE:F) has announced to eliminate a third of its 1,200 Lincoln dealers in the U.S. Out of 500 Lincoln dealerships in the nation's metropolitan markets, 175 dealerships have been rumored to be eliminated. The automaker's remaining 700 dealerships are located in rural areas. Ford plans to market Lincoln models in 130 urban areas where demand for luxury good is very strong. The automaker will ask the remaining dealerships to upgrade their showrooms and services. Ford has … [visit site to read more]
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| BofA To Focus On Direct Lending Posted: 07 Oct 2010 03:05 PM PDT Bank of America Corporation (NYSE:BAC) announced this week that it plans to concentrate on direct lending to its customers and will stop using first mortgage wholesale channel (independent brokers) to offer loans. BofA's move stems from its struggle with a large number of lawsuits, buy-back requests and fraud charges from loans that were originated hastily. The (Un)Securitized Loan Problem Since wholesale mortgage originators have little contact with the loans once these are securitized, they … [visit site to read more]
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| Iron Mountain Falls On Weak Outlook Posted: 07 Oct 2010 03:05 PM PDT A leading provider of information protection and storage services, Iron Mountain Inc.'s (NYSE:IRM) share price slid 8.6% following the company's lower-than-expected outlook for fiscal 2010 and 2011 as announced at its 13th Annual Investor Day. Management highlighted the company's long-term growth strategy. The company lowered its fiscal 2010 estimates and provided a weak 2011 outlook. However, Iron Mountain also increased its share repurchase program. Fiscal 2010 Outlook Reduced Iron … [visit site to read more]
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| Downside Risk In U.S. Stock Market Mitigated By Fed, Economy & Technicals Posted: 07 Oct 2010 03:01 PM PDT From current levels, the downside risk in stocks, and risk assets in general, is probably not as significant as many believe. Three factors mitigate the risks relative to a gut-wrenching correction in risk assets: (1) the Fed, (2) the economy, and (3) a significant band of support in the S&P 500. Since global balance sheets from the consumer to the U.S. government remain impaired, one of the objectives of the Fed's policies is to create conditions which can stabilize, and … [visit site to read more]
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| Analyst Interviews: REIT Industry Outlook Posted: 07 Oct 2010 02:35 PM PDT The U.S. Real Estate Investment Trust (REIT) industry gained its momentum back in the fiscal 2010 third quarter, after lackluster results in the second quarter that was preceded by two strong back-to-back performances in first quarter 2010 and fourth quarter 2009. The FTSE NAREIT Equity REIT Index reported total returns of 10.9% in the third quarter (as of September 23, 2010), vs. returns of 9.6% and a 9.5% for the Dow Jones Industrials and the S&P 500, respectively. In the second quarter … [visit site to read more]
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| Posted: 07 Oct 2010 02:35 PM PDT Anticipating a stronger non-residential construction market in the longer term, Steel Dynamics Inc. (NASDAQ:STLD), one of the leading steel producers in the U.S., is ramping up steel capacity at its New Millennium Building Systems subsidiary. The company has recently announced its decision to acquire some of Commercial Metals Corporation's idled steel-joist manufacturing facilities located in Arkansas, Nevada and Mexico. In addition, Steel Dynamics will also purchase production and material … [visit site to read more]
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| Posted: 07 Oct 2010 02:35 PM PDT Leading data center solutions provider Equinix Inc. (NASDAQ:EQIX) made some revisions to its third quarter and fiscal 2010 guidance that was provided with the second quarter earnings release on July 28. Subsequently, shares have tumbled from roughly $105 to $75 per share. For the third quarter, Equinix expects total revenue to range between $328.0 million and $330.0 million, below the previous guidance range of $335.0 to $338.0 million. For the fiscal year, Equinix expects total revenue to be … [visit site to read more]
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| Initiating Chesapeake Financial At Neutral Posted: 07 Oct 2010 02:35 PM PDT We are initiating coverage on Chesapeake Financial Shares, Inc. (CPKF) with a Neutral rating. CPKF has done an exceptional job navigating the treacherous financial landscape that has characterized the past few years, with EPS growing throughout this period. While asset quality has weakened this year, it still remains satisfactory. The balance sheet continues strong. Going forward, we estimate that diluted EPS will increase 3% to $1.82 in 2010 and an additional 5% to $1.92 in 2011. Turning to … [visit site to read more]
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| Whitney Tilson From The Value Investing Congress (2008) Posted: 07 Oct 2010 02:19 PM PDT Whitney Tilson In the spirit of the upcoming Value Investing Congress which I plan on attending and reporting from, I found some interesting videos from the previous Congress in 2008 which I wanted to share. I discovered a total of 11 videos on the internet. Most of them are quite interesting, and informative.
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| Honeywell’s Air Traffic Control Posted: 07 Oct 2010 02:05 PM PDT Honeywell International (NYSE:HON) is foraying into developing a modern air traffic control system. It has been awarded a research program by the Federal Aviation Administration (FAA) to develop advanced air traffic management technology that will enable aircrafts to fly more direct routes and save on operating costs in addition to adhering to flying schedule. Four-dimensional flight trajectory-based technology will take into account timing and data positions to improve air traffic operations. … [visit site to read more]
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| Buffalo Wild Wings On Expansion Track Posted: 07 Oct 2010 02:05 PM PDT Buffalo Wild Wings Inc. (NASDAQ:BWLD) has opened its 700th restaurant in the United States and thus remains on track to attain its target of opening 1,000 restaurants in the United States by 2013. The new restaurant is opened in Tempe, Arizona, which is the seventeenth restaurant in that state. Minneapolis-based Buffalo Wild Wings was founded in 1982 and it opened its first restaurant near Ohio State University. The company began franchising in 1991. In the last 28 years, the company has expanded … [visit site to read more]
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| Alcoa Leads Off With Improvement Posted: 07 Oct 2010 02:05 PM PDT So here we go again. Alcoa (NYSE:AA), the perennial lead-off company for earnings season, reported third-quarter earnings per share and revenue that improved from last year, while also raising its aluminum consumption forecast for the year. The company earned 9 cents per share, excluding a negative impact of 3 cents, which was ahead of the Zacks Consensus Estimate by 3 cents and better than last year’s 4 cents. Revenues reached $5.3 billion, or a 15% improvement from $4.6 billion in the third … [visit site to read more]
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| Internet Explorer Browser Share Falls Below 50% Posted: 07 Oct 2010 02:00 PM PDT CNNMoney — “StatCounter, which tracks Internet data, said that Internet Explorer’s share of the browser market fell to 49.9% in September. More people still use IE than any other single browser, but the combined market share of non-Microsoft browsers now outpaces IE. The other browsers have outpaced IE’s innovations, has led Mozilla’s Firefox, Google’s (GOOG, Fortune 500) Chrome and Apple’s (AAPL, Fortune 500) Safari browser to eat away at Microsoft’s market share. Internet Explorer’s use … [visit site to read more]
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| Caveman Thinking And Our Protectionist Instinct Posted: 07 Oct 2010 01:37 PM PDT Economic Paul Rubin writing in today’s Wall Street Journal explains why our “caveman heritage” makes us resistant to clear thinking about international trade: “There are two aspects of our evolved psychology that help explain beliefs about trade. First, humans tend towards zero-sum thinking. That is, we do not intuitively understand the possibilities of economic growth or the benefits of trade in achieving it. Our ancestors lived in a static world with little intertribal trade and virtually … [visit site to read more]
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| Washington Post To Enhance Returns Posted: 07 Oct 2010 01:35 PM PDT In order to enhance shareholders' returns, The Washington Post Company (NYSE:WPO), a diversified media conglomerate, announced a share repurchase program. The company stated that its Board of Directors has authorized the repurchase of up to 750,000 shares of its Class B common stock. The new repurchase … [visit site to read more]
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| Posted: 07 Oct 2010 01:05 PM PDT We recently upgraded our recommendation on Newell Rubbermaid Inc. (NYSE:NWL), a global manufacturer and marketer of consumer and commercial products, to Neutral with a price target of $19.00. Previously, we had an Underperform rating on the stock. Newell is one of the leading manufacturers of home and office products. The company has several established brands, which includes Sharpie, Paper Mate, Dymo, Waterman, Parker, Irwin, Lenox, Rubbermaid, Levolor, Graco, Calphalon and Goody. We believe … [visit site to read more]
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| Posted: 07 Oct 2010 01:05 PM PDT Jacobs Engineering Group Inc. (NYSE:JEC) recently won a five-year $50 million contract from Millennium Challenge Corporation to supply professional services. This was the first contract for Jacobs in the month of October. In September, the company won a number of contracts including a contract from Huntsman Corporation, Hydrogen Energy California, LLC, Scania, one-year contract from the United States Army TACOM Life Cycle Management Command and an extension of its consultancy contract from Kent … [visit site to read more]
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| PAC Records High Mexican Traffic Posted: 07 Oct 2010 01:05 PM PDT Grupo Aeroportuario del Pacífico S.A.B. de C.V. (NYSE:PAC), a top Mexican airport operator, recorded a 6.2% increase in passenger traffic for September 2010 in comparison with the same period of fiscal 2009. Domestic traffic rose 7.6% while International traffic shot up by 2.5% year over year. In August 2010, Grupo Aeroportuario del Pacífico recorded a 3.6% year-over-year increase in its traffic with a 2.3% increase in domestic traffic and 6.6% International traffic. In July 2010, passenger … [visit site to read more]
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| Weekly Rail Traffic Maintains Steady Growth Posted: 07 Oct 2010 01:03 PM PDT “The Association of American Railroads today reported that weekly rail traffic continues to maintain a steady pace with U.S. railroads originating 299,394 carloads for the week ending Oct. 2, 2010, up 7.7% compared with the same week in 2009, but down 10.7% from the same week in 2008. In order to offer a complete picture of the progress in rail traffic, AAR reports 2010 weekly rail traffic with comparison weeks in both 2009 and 2008. Intermodal traffic on U.S. railroads totaled 240,252 … [visit site to read more]
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| Complexity A Good Thing For InTEST Posted: 07 Oct 2010 12:35 PM PDT inTEST Corporation (NASDAQ:INTT) is a designer, manufacturer and marketer of mechanical, thermal and electrical products that are used by semiconductor manufacturers in conjunction with automatic test equipment (ATE) in the testing of integrated circuits (ICs). Beyond its blue chip portfolio of semiconductor manufacturers, the acquisition of Sigma has propelled the firm to diversify into non-semi thermal testing products. This has the effect of diversifying revenues and opens the company up to new … [visit site to read more]
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| Aug. Private Sector Job Openings +36% Vs. 2009 Posted: 07 Oct 2010 11:43 AM PDT The BLS reported today that job openings increased to 3.2 million at the end of August, which was 60,000 higher than job openings at the end of July, and 790,000 higher than at the end of August last year (or 33%). Job openings for the private sector are 36% ahead of last year, or by 751,000 openings. Compared to last August, job openings have improved in all six sectors except for Education and Health Services, which declined by 7%. Job openings in all of the other … [visit site to read more]
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| The Secret Big-Money Takeover Of America Posted: 07 Oct 2010 11:38 AM PDT Not only is income and wealth in America more concentrated in fewer hands than it's been in 80 years, but those hands are buying our democracy as never before – and they're doing it behind closed doors.
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