Wednesday, October 27, 2010

DailyMarkets.com - Postbank Lets Deutsche Bank Down

DailyMarkets.com - Postbank Lets Deutsche Bank Down


Postbank Lets Deutsche Bank Down

Posted: 27 Oct 2010 10:05 AM PDT

Deutsche Bank AG (NYSE:DB) reported a third quarter 2010 net loss of €1.2 billion ($1.7 billion) or €1.75 per share, compared with a profit of €1.4 billion or €1.92 per share in the prior-year period, primarily reflecting the €2.3 billion in charges for the Deutsche Bank's stake in Postbank and the related mandatory exchangeable bond. Excluding that charge, Deutsche Bank reported a net profit of €1.1 billion in the reported quarter. 
Deutsche Bank had already cautioned in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


General Dynamics Tops, Ups Outlook

Posted: 27 Oct 2010 10:05 AM PDT

Defense and aerospace operator General Dynamics Corporation (NYSE:GD) announced its third-quarter 2010 operating earnings of $1.70 per share, which surpassed the Zacks Consensus Estimate of $1.64. The results of the company were 22 cents ahead of the year-ago figure of $1.48 per share.
The GAAP earnings of the company during the quarter were $1.70 per share versus $1.47 per share reported in the third quarter of 2009.
Total Revenue
General Dynamics generated total revenue of $8,011 million in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


ADP Beats, Outlook Raised

Posted: 27 Oct 2010 09:40 AM PDT

Automatic Data Processing Inc.(NYSE:ADP) announced results for the first quarter of fiscal 2011. Net earnings from continuing operations were 56 cents per share, up 3 cents as compared with the Zacks Consensus Estimate.
Earnings per share were in line year over year, primarily due to fewer shares outstanding in the quarter. Increase in operating expenses had a negative impact on earnings growth in the quarter.
Revenue
Revenues were $2.23 billion, up 6.4% year over year as compared with $2.09 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Earnings Preview: Varian Medical

Posted: 27 Oct 2010 09:35 AM PDT

Varian Medical Systems (NYSE:VAR) is slated to report fourth quarter fiscal 2010 (ending September 30) results on Thursday, October 28. The company expects earnings per share in the range of 80 cents to 83 cents for the fourth quarter and in a band of $2.90 to $2.93 for fiscal 2010. The current Zacks Consensus Estimate for the fourth quarter is 84 cents, representing an estimated year-over-year increase of 8.04%.
Third Quarter Recap
Varian posted third-quarter 2010 adjusted (excluding one-time … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Whirlpool Meets Expectations

Posted: 27 Oct 2010 09:35 AM PDT

Whirlpool Corporation (NYSE:WHR) reported a profit (before special items) of $2.22 per share that was in line with the Zacks Consensus Estimate. The profit improved from $1.67 per share (before special items) in the year-ago quarter.
Revenues in the quarter increased marginally by $22 million to $4.52 billion, meeting the Zacks Consensus Estimate. The adjusted operating profit was $234 million in comparison to $193 million in the previous year.
The company's results were driven favorably by cost … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hess Tops Substantially

Posted: 27 Oct 2010 09:35 AM PDT

Hess Corp. (NYSE:HES) reported better-than-expected third-quarter earnings of $1.31 per share, compared with the Zacks Consensus Estimate of $1.04 and the year-earlier profit of 74 cents. We have adjusted the reported quarter as well as the year-earlier figures for the non-recurring items.
Total revenue increased 21% year over year to $8.95 billion, but remained well below the Zacks Consensus Estimate of $10.33 billion.
Operational Performance
The Exploration and Production (E&P) segment … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Life Tech Beats, Raises EPS Outlook

Posted: 27 Oct 2010 09:05 AM PDT

Life Technologies Corporation (LIFE) reported an EPS of 56 cents in the third quarter of 2010 compared to 22 cents in the year-ago period. However, after adjusting for certain one-time items, the EPS was 87 cents, surpassing the Zacks Consensus Estimate of 78 cents and 19% higher than 73 cents in the year-ago quarter.
Growth in all the divisions of Life Technologies helped adjusted revenues increase 8% year over year to $869 million, ahead of the Zacks Consensus Estimate of $857 million. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Massey Falls Below Estimates

Posted: 27 Oct 2010 09:05 AM PDT

Coal miner Massey Energy Company (NYSE:MEE) reported a third quarter adjusted loss of 33 cents per share (excluding Upper Big Branch mine tragedy related charges), falling 19 cents behind the Zacks Consensus Estimate of a loss of 14 cents. The decline in the quarter is primarily attributable to the disruption caused by the Upper Big Branch mine blast.
Operating Results
Net revenues in the reported quarter jumped 26.3% year over year to $810.2 million, mainly due to higher average prices realized … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Up Across The Board On Gradual Easing Expectations

Posted: 27 Oct 2010 08:53 AM PDT

Forex Pros – The U.S. dollar was up against all of the other major currencies on Wednesday after a report in the Wall Street Journal said that the Federal Reserve was likely to unveil a gradual monetary easing program, confounding market expectations of very large scale easing.

During European late afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.53% to hit 1.3784. Earlier in the day, official data showed that euro zone M3 money supply fell unexpectedly in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Hits Fresh Daily Low After Upbeat U.S. Housing Data

Posted: 27 Oct 2010 08:41 AM PDT

Forex Pros – The pound extended earlier losses against the U.S. dollar on Wednesday, falling to hit a fresh daily low after official data showed that U.S. new home sales rose more-than-expected in September.

GBP/USD hit 1.5757 during late European trade, a fresh daily low; the pair subsequently consolidated at 1.5794, shedding 0.31%.

Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.

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


McKesson Misses, Reaffirms

Posted: 27 Oct 2010 08:35 AM PDT

McKesson Corp.'s (NYSE:MCK) second quarter fiscal 2011 earnings of $1.03 per share (excluding special items) fell short of the Zacks Consensus Estimate by 5 cents and the year-ago earnings by 4 cents. However, on a reported basis (including special items), the company's earnings increased approximately 13% to $1.25. Reported earnings for the quarter were inclusive of a gain of 28 cents per share from the sale of McKesson Asia-Pacific Pty Limited.
Revenues for the second quarter of fiscal 2011 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Extends Losses After Rise In U.S. New Home Sales

Posted: 27 Oct 2010 08:31 AM PDT

Forex Pros – The euro extended earlier losses against the U.S. dollar on Wednesday, falling to a fresh 5-day low following the release of better-than-expected U.S. data on new home sales.

EUR/USD hit 1.3759 during late European trade, the pair's lowest since October 20; the pair subsequently consolidated at 1.3779, falling 0.57%.

The pair was likely to find short-term support at 1.3636, the low of October 5 and resistance at 1.3981, Tuesday's high.

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


Forex Trading: EURUSD Bounces Off Our Support At 1.3756.

Posted: 27 Oct 2010 08:20 AM PDT

A move back obave teh 1.3775 area is needed to put the low in.    Watch this level.  A move above would target the 38.2% retracement of the move down today. That comes in at 1.3804 .  The 100 bar MA on the 5 minute chart is at 1.3807 currently and will also provide upside … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Australian Dollar: Key ST Resistance At 10725

Posted: 27 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


Procter & Gamble Reports Modest Q1

Posted: 27 Oct 2010 08:15 AM PDT

Procter & Gamble Co. (NYSE:PG) reported modest results for the first quarter of 2011. Net earnings from continuing operations of $1.02 a share were 5% above the 97 cents a share profit posted in the year-ago period. Earnings were also above the Zacks Consensus Estimate of $1.00.
Procter & Gamble forecasts second-quarter 2011 net earnings from continuing operations and core earnings to be in the range of $1.05 to $1.11 per share, reflecting a 4%–10% growth rate. The guidance implies that … [visit site to read more] or compare Best Credit Cards and Best CD Rates


SAP Slips

Posted: 27 Oct 2010 08:15 AM PDT

SAP AG (NYSE:SAP) released its earnings results for third quarter 2010, reporting earnings per share of €0.42 or 54 cents. The company's earnings for the quarter missed the Zacks Consensus Estimate of 67 cents by 20%.
Revenue
SAP AG reported total revenues of €3 billion or $3.87 billion, above the Zacks Consensus Estimate of $3.81 billion. The revenues in the quarter increased by 13% at constant currency, led by strong growth in software revenue, support revenue and double digit growth in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Buffalo Wild Wings Beats, Shares Fall

Posted: 27 Oct 2010 08:10 AM PDT

Buffalo Wild Wings Inc.'s (NASDAQ:BWLD) third quarter 2010 earnings of 47 cents per share outdid the Zacks Consensus Estimate of 43 cents and soared 23.7% from 38 cents posted in the prior-year quarter. The better-than-expected results were driven by double-digit growth in the top line and lower chicken wing prices.
Total revenue climbed 14.0% year over year to $151.3 million and also outperformed the Zacks Consensus Estimate of $150.0 million. Sales at company-operated restaurants rose 13.9% to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Broadcom Beats Expectations

Posted: 27 Oct 2010 08:10 AM PDT

Leading chipmaker Broadcom Corporation (BCRM) reported solid results for the third quarter of 2010, which beat both management and the Zacks estimates.
Broadcom generated revenues of $1.806 billion in the third quarter of 2010, up 44% year over year and up 12.6% sequentially. The results surpassed management's revenue guidance of $1.7 – $1.8 billion and the Zacks Consensus Estimate of $1.749 billion.
The sequential growth in the quarter was propelled by strength in Mobile and Wireless and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


LAN Beats Expectations

Posted: 27 Oct 2010 08:10 AM PDT

LAN Airlines S.A. (NYSE:LFL) reported outstanding results during the third quarter of fiscal 2010 with double the net income compared to the third quarter of fiscal 2009.
During the quarter, LAN posted a net income of $106.2 million from $52.1 million in the year-ago quarter. Earnings per ADS came to 31 cents compared to 15 cents in the corresponding quarter of fiscal 2009. The increase was basically driven by increases of 49% and 20% in the cargo and passenger revenue, respectively. Reported … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Chicago Bridge & Iron Beats

Posted: 27 Oct 2010 08:10 AM PDT

Chicago Bridge & Iron Company (NYSE:CBI), a.k.a. CB&I, has reported its third quarter 2010 results. Net income was $51.8 million, or 52 cents per share, topping the Zacks Consensus Estimate of 48 cents per share. Quarterly revenue was $909 million, which was below the Zacks Consensus Estimate of $1,024 million.
New awards totaled $893.1 million in the quarter, down 2.5% sequentially. The order backlog at the end of the quarter was $6.9 billion.
Lummus Technology, a CB&I Company, has … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Jacobs Wins Construction Contracts

Posted: 27 Oct 2010 08:10 AM PDT

Jacobs Engineering Group Inc. (NYSE:JEC) won a construction contract from Bonneville Power Administration (BPA), a federal agency in Portland that markets wholesale electricity and transmission services to public and private utilities in the Pacific Northwest and direct service industries.
Although the contact value was not disclosed, the total cost is expected to be as high as $6 billion. Per the agreement, Jacobs will provide on-site construction administration and inspection services for … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Mylan Beats On EPS, Misses On Sales

Posted: 27 Oct 2010 08:10 AM PDT

Mylan Inc. (NYSE:MYL) reported third quarter earnings per share of 43 cents,  a penny above the Zacks Consensus Estimate but well above the year-ago earnings of 32 cents. Revenues increased 7.2% to $1.36 billion but fell short of the Zacks Consensus Estimate of $1.41 billion.
Quarter in Detail
Both revenue segments at Mylan recorded growth during the third quarter. While Generics accounted for about 90% of total third quarter revenues, posting sales of $1.22 billion (up 8.9%), revenues from … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian Dollar: The Downside Prevails

Posted: 27 Oct 2010 08:10 AM PDT

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


Forex – USD/CAD Soars To 5-day High As Crude Oil Tumbles

Posted: 27 Oct 2010 08:02 AM PDT

Forex Pros – The U.S. dollar soared to a 5-day high against its Canadian counterpart on Wednesday, as crude oil prices tumbled in the wake of official data which showed that U.S. stockpiles rose significantly more-than-expected last week.

USD/CAD hit 1.0335 during European afternoon trade, the pair's highest since October 20; the pair subsequently consolidated at 1.0318, soaring 0.79%.

The pair was likely to find support at 1.0180, Tuesday's low and resistance at 1.0373, the high of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Keeps Pressure On But Respects Support

Posted: 27 Oct 2010 07:58 AM PDT

The EURUSD has tested the support at the 1.3775 area for the second time today and bounced. The level corresponds to the October 12th low (at 1.3773) .  The price broke below the level last week on its way to the low at 1.3698.  This would be a target on a break lower.  Before that support point look for buyers against the 1.3749-55 level  This is where trendlines are located.   Worries about Greek debt has the EURUSD under pressure today. The better than … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stocks Lower After The Open; Dow Jones Sheds 0.97%

Posted: 27 Oct 2010 07:51 AM PDT

Forex Pros – U.S. stocks were lower after the open on Wednesday, amid speculation over the scope of additional monetary easing by the Federal Reserve, while disappointing earnings reports led markets lower.

During early U.S. trade, the Dow Jones Industrial Average was down 0.97%; the S&P 500 index fell 0.84%, while the Nasdaq Composite index was down 0.28%.

Investor confidence was undermined after a Wall Street Journal report late Tuesday said that the Fed was likely to unveil a program … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Opening Bell Market Monitor: PG, NOC, COP

Posted: 27 Oct 2010 07:33 AM PDT

10/27/10 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


Forex- NZD/USD Tumbles To 5-day Low After U.S. New Home Sales Rise

Posted: 27 Oct 2010 07:26 AM PDT

Forex Pros – New Zealand's dollar extended losses against its U.S. counterpart on Wednesday, falling to a fresh 5-day low after the release of better-than-expected U.S. data on new home sales.

NZD/USD hit 0.7439 during European afternoon trade, the pair's lowest since October 20; the pair subsequently consolidated at 0.7432, tumbling 0.84%.

The pair was likely to find short-term support at 0.7356, the low of October 5 and resistance at 0.7560, the high of October 25.

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


U.S. New Home Sales Rise More-than-expected

Posted: 27 Oct 2010 07:11 AM PDT

Forex Pros – U.S. new home sales rose more-than-expected in September, official data showed on Wednesday.

In a report, the U.S. Census Bureau said new home sales rose to a seasonally adjusted 307,000 units in September, after rising to 288,000 units in August.

Analysts had expected the number of new home sales to rise to 300,000 units in September.

The report said that year-on-year, new home sales were down 21.5% in September.

Following the release of the data, the U.S. dollar was up … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Pares Losses After Weak U.S. Durables Data

Posted: 27 Oct 2010 06:09 AM PDT

Forex Pros – The pound pared losses against the U.S. dollar on Wednesday, retreating from a daily low, after official data showed that U.S. core durable goods orders fell unexpectedly in September.

GBP/USD retreated from 1.5758 the daily low, to hit 1.5824 during European afternoon trade, shedding 0.12%.

Cable was likely to find support at 1.5650, the low of October 22 and resistance at 1.6002, the high of October 18.

Earlier in the day, the U.S. Census Bureau said core durable goods … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Trims Losses After U.S. Durables Disappoint

Posted: 27 Oct 2010 05:59 AM PDT

Forex Pros – the euro trimmed losses against the U.S. dollar on Wednesday, retreating from a 5-day low, following the release of worse-than-expected data on U.S. durable goods orders.

EUR/USD retreated from 1.3770, the pair's lowest since October 20 to hit 1.3814 during European afternoon trade, shedding 0.30%.

The pair was likely to find short-term support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday's high.

Earlier in the day, the U.S. Census Bureau said core … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Core Durable Goods Orders Fall Unexpectedly

Posted: 27 Oct 2010 05:39 AM PDT

Forex Pros – U.S. core durable goods orders fell unexpectedly in September, official data showed on Wednesday.

In a report, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 0.8% in September, after rising by 1.9% in August, whose figure was revised down from 2.0%.

Analysts had expected core durable goods orders to rise by 0.2% in September.

The report also showed that durable goods orders, which include transportation items, rose significantly … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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