Monday, October 25, 2010

DailyMarkets.com - Kensey Nash Misses, Cuts Outlook

DailyMarkets.com - Kensey Nash Misses, Cuts Outlook

Kensey Nash Misses, Cuts Outlook

Posted: 25 Oct 2010 09:35 AM PDT

Medical devices maker Kensey Nash Corporation's (NASDAQ:KNSY) first-quarter fiscal 2011 (ended September 30) earnings per share of 41 cents came in a penny short of the Zacks Consensus Estimate and below the year-ago earnings of 43 cents. Net income dipped 21% year-over-year to $3.8 million, hit by lower sales. The Pennsylvania-based company pruned its guidance for fiscal 2011.
Revenues
Revenues clipped 14% year-over-year to $17 million, in line with the Zacks Consensus Estimate. Net sales … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BHP Upgraded On Improving Economy

Posted: 25 Oct 2010 09:35 AM PDT

We upgrade our recommendation on BHP Billiton Ltd. (NYSE:BHP) from Neutral to Outperform based on our optimism of the increased production in the first quarter of fiscal 2011 driven by the gradual market recovery since the start of calendar 2010.
BHP Billiton reported higher production for the first quarter of fiscal 2011 with a 6% year-over-year increase in its iron ore production and 3%, 3% and 10% increases in its oil and natural gas, copper, and coking coal production, respectively. During the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Global Economic Recovery Watch: Hotel Industry Is Rebounding In U.S. And Around The World

Posted: 25 Oct 2010 09:13 AM PDT

“The U.S. hotel industry reported increases in all three key performance metrics for third-quarter 2010 in year-over-year measurements, according to data from STR.  The industry's occupancy was up 6.7 percent to 63.9 percent, average daily rate (ADR) rose 1.6 percent to $99.07, and revenue per available room (RevPAR) increased 8.4 percent to $63.34.  Year-to-date 2010, occupancy increased 5.2 percent to 58.9 percent, ADR fell 0.7 percent to US$97.89, and RevPAR was up 4.5 percent to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FEMSA Profits Up

Posted: 25 Oct 2010 09:05 AM PDT

FEMSA (NYSE:FMX), formally known as Fomento Economico Mexicano, S.A.B. de C.V., reported third quarter 2010 net income from continuing operations of MXN 5,057 million ($394.7 million). The quarter's net income increased an impressive 35.1% from the year-ago quarter.
Total revenue grew 4.3% year over year to MXN 42,782 million ($3,338.8 million). The growth was primarily driven by a 15.2% growth in FEMSA Comercio, which generated MXN 16,219 million ($1,265.8 million) in revenues, mainly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Invesco Tops Zacks Consensus

Posted: 25 Oct 2010 09:00 AM PDT

Invesco Limited's (NYSE:IVZ) third quarter 2010 earnings came in at 39 cents per share, 4 cents ahead of the Zacks Consensus Estimate of 35 cents. This also compares favorably with earnings of 27 cents in the prior-year quarter.

On a GAAP basis, earnings came in at 32 cents per share, compared with 24 cents in the year-ago quarter. GAAP results for the reported quarter included $26.8 million in transaction and integration charges related to the acquisition of the retail asset management … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Respectable Quarter For Dr Reddy’s

Posted: 25 Oct 2010 09:00 AM PDT

Dr Reddy's Laboratories (NYSE:RDY) reported second quarter fiscal 2011 earnings per American Depository Share (ADS) of 40 cents compared with earnings of 30 cents in the year-ago period. Higher gross margin led to an increase in earnings.
Revenues
The company reported quarterly revenues of $420 million, up 2%. Dr Reddy's reports revenues under two segments – Global Generics and Pharmaceutical Services & Active Ingredients (PSAI). Global Generics segment revenues went up 8% (on an INR … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold Rally Is Unconvincing

Posted: 25 Oct 2010 08:55 AM PDT

Has gold begun its overdue correction, or is last week's token pullback all we're getting for now?

In my last gold review I said there were some reasons for caution but that I wasn't prepared to take on the bullish trend yet (Gold Takes A Breather With The US Closed). Since then the price hit a fresh high of $1387, but then fell below the Marabuzo line at $1326, and closed well below the rising 21-day moving average.

On Friday buyers stepped up to the plate, pushing the price … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Remains Down Vs. Rivals After Upbeat U.S. Housing Data

Posted: 25 Oct 2010 08:55 AM PDT

Forex Pros – The U.S. dollar remained down against all of the other major currencies on Monday, following the release of better-than-expected U.S. data on existing home sales.

During European afternoon trade, the greenback was down against the euro, with EUR/USD up 0.23% to hit 1.3987. Earlier in the day, official data showed that the euro zone's industrial new orders rose significantly more-than-expected in August.

The greenback was also down against the pound and the Swiss franc, with … [visit site to read more] or compare Best Credit Cards and Best CD Rates

After The Midterms: Why Democrats Move To The Center, And Republicans Don’t

Posted: 25 Oct 2010 08:51 AM PDT

If Republicans succeed in taking over the House and come even close to gaining a majority in the Senate, expect calls for the President to "move to the center." These will come not only from Republicans but also from conservative Democrats, other prominent Dems who have been defeated, Fox Republican News, mainstream pundits, and White House political advisers.
After the 1994 midterm, when Dems lost the House and Senate, Bill Clinton was told to "move to the center." He obliged by hiring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Pares Gains After Better-than-expected U.S. Data

Posted: 25 Oct 2010 08:48 AM PDT

Forex Pros – The euro trimmed gains against the U.S. dollar on Monday, retreating from a 6-day high, following the release of better-than-expected U.S. data on existing home sales.

EUR/USD retreated from 1.4080, the pair's highest since October 15, to hit 1.3985 during European afternoon trade, gaining 0.23%.

The pair was likely to find support at 1.3857, Friday's low and resistance at 1.4157, the high of October 15 and an 8-month high.

Earlier in the day, the National Association of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Holds Gains After Upbeat U.S. Home Sales Data

Posted: 25 Oct 2010 08:40 AM PDT

Forex Pros – The pound held early gains against the U.S. dollar on Monday, trading at an intra-day high, following the release of better-than-expected U.S. data on existing home sales.

GBP/USD hit 1.5774 during early European trade, the pair's highest since last Thursday, the pair subsequently consolidated at 1.5746, gaining 0.41%.

Cable was likely to find support at 1.5601, the low of September 22 and resistance at 1.5848, the high of October 21.

Earlier in the day, U.K. Prime Minister … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CNOOC Topples Exxon On Jubilee Bid

Posted: 25 Oct 2010 08:35 AM PDT

China’s CNOOC Ltd. (NYSE:CEO) and Ghana National Petroleum Corp. have bid for Kosmos Energy's (a Texas-based oil and production company) assets in the West African state, including its stake in the Jubilee field, according to news published in Bloomberg.com.
The amount of the bid was $5 billion, which topped a failed bid of more than $4 billion from ExxonMobil Corp. (NYSE:XOM). Exxon's bid includes a coveted 23.49% stake in the Jubilee field, which holds an approximately 1.8 billion barrels of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Siemens Wins U.S. Order

Posted: 25 Oct 2010 08:35 AM PDT

Siemens Government Services, a division of Siemens AG (NYSE:SI), has bagged a $38.5 million order from General Services Administration in USA. The scope of work includes improving energy efficiency in 39 government facilities spread across the Greater Southwest Region.
The 26-month contract period will see Siemens deliver renewable energy as well as build automation systems, which include photovoltaic generating technologies and sophisticated heating, ventilation and air conditioning … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Waters

Posted: 25 Oct 2010 08:35 AM PDT

Waters Corp. (NYSE:WAT) is slated to report its third quarter 2010 earnings on October 26, 2010 before the opening bell. The current Zacks Consensus Estimate for the third quarter is 97 cents per share, representing a year-over-year growth of 4.3%. Waters has surpassed earnings estimates consistently in the last four quarters with a trailing four-quarter average surprise of 3.55%.
Second Quarter Recap
Waters Corp.'s second quarter 2010 per share from continuing operations was 90 cents, an … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Moves Toward 200 Hour MA Support At 1.3953

Posted: 25 Oct 2010 08:14 AM PDT

The EURUSD has moved below support at the 1.4000 level and is finding selling pressure that has pushed the priced toward the 200 hour MA support at 1.3953. I would expect buyers on dips toward this level with stops on a move below.
On the topside, if the price can remain below the 1.3994 -1.4000level, the intraday bias to the downside should remain in tact (see chart … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tractor Supply Beats Estimate

Posted: 25 Oct 2010 08:10 AM PDT

Tractor Supply Co. (NASDAQ:TSCO), a leading retail farm and ranch store brand, recorded another quarter of good growth. Earnings per share in the third quarter of fiscal 2010 came in at 43 cents a share, which outdid the Zacks Consensus Estimate of 37 cents a share as well as the prior-year quarter earnings of 30 cents. Results improved on the heels of good inventory and markdown management.
Strong performance in consumable, usable and edible categories − for instance, pet food and animal feed − … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: JAKKS

Posted: 25 Oct 2010 08:10 AM PDT

JAKKS Pacific Inc. (NASDAQ:JAKK), a multi-brand company that designs and markets a broad range of toys and consumer products, is slated to release its third quarter 2010 results on Tuesday, October 26. The current Zacks Consensus Estimate for the quarter is $1.06 per share, representing an annualized growth of negative 6.10%.  
With respect to earnings surprises over the trailing four quarters, JAKKS has oscillated greatly from approximately negative 4.4% to positive 240.0%. The average … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Trims Losses After Upbeat U.S. Home Sales Data

Posted: 25 Oct 2010 08:09 AM PDT

Forex Pros – The U.S. dollar trimmed losses against its Canadian counterpart on Monday, easing off a 6-day low after the release of better-than-expected U.S. data on existing home sales.

USD/CAD retreated from 1.0153, the pair's lowest since October 18, to hit 1.0192 during early U.S. trade, shedding 0.69%.

The pair was likely to find support at 1.0116 the low of October 18 and resistance at 1.0301, the high of October 22.

Earlier in the day, the National Association of Realtors said … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Key ST Resistance At 10725

Posted: 25 Oct 2010 08:07 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: 25 Oct 2010 08:07 AM PDT

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

Bond Rally Takes A Breather Ahead Of Mid-term Elections And November FOMC Meeting

Posted: 25 Oct 2010 08:07 AM PDT

Fundamentals
After rising by nearly 20-full points since April of this year, the 30-yr Bond futures rally looks a bit tired lately, and prices seem to have entered a consolidation phase. Many traders have pared back their position in treasuries ahead of the November 2nd mid-term elections here in the U.S., along with the upcoming 2-day Federal Open Market Committee meeting (FOMC) scheduled for November 2nd and 3rd. The FOMC meeting will be highly anticipated by traders looking for comments … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lorillard Sees Rise In 3Q Net Income

Posted: 25 Oct 2010 07:39 AM PDT

10/25/10 Lorillard announced Monday that its 3Q net income rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Higher After The Open; Dow Jones Rises 0.78%

Posted: 25 Oct 2010 07:34 AM PDT

Forex Pros – U.S. stocks were higher after the open on Monday, as strong corporate earnings reports boosted sentiment on Wall Street and led markets higher.

During early U.S. trade, the Dow Jones Industrial Average rose 0.78%; the S&P 500 index gained 0.72%, while the Nasdaq Composite index was up 0.77%.

In earnings news, office supplies retailer Office Depot saw its shares soar 9.94% after it announced better-than-expected preliminary third quarter earnings, ahead of the release of its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Hits Fresh 3-day High After U.S. Home Sales Data

Posted: 25 Oct 2010 07:33 AM PDT

Forex Pros – New Zealand's dollar soared to a fresh 3-day high against its U.S. counterpart on Monday, after the release of better-than-expected U.S. data on existing home sales.

NZD/USD hit 0.7562 during European afternoon trade, that pair's highest since October 20; the pair subsequently consolidated at 0.7555, soaring 1.18%.

The pair was likely to find support at 0.7434, last Friday's low and resistance at 0.7624, the high of October 14 and a 1-year high.

Earlier in the day, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: ODP, RSH, LO

Posted: 25 Oct 2010 02:24 AM PDT

10/25/10 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

Five Overlooked Dividend-Rich Stocks

Posted: 24 Oct 2010 08:55 PM PDT

Investors are generally a creative lot. We yearn for our inner voice to approvingly utter the classic Indiana Jones line when the old knight tells Indiana Jones, upon selecting the correct chalice from the many pretenders, “You Have Chosen Wisely”. But there is more to the passion for many. I enjoy reading old predictions from the likes of Barrons, Forbes, Fortune, The Wall Street Journal and Money print media – and in retrospect find humor in how most did not stand the test of time. I also … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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