Monday, October 11, 2010

DailyMarkets.com - PowerShares To Shut Door On 10 ETFs

DailyMarkets.com - PowerShares To Shut Door On 10 ETFs


PowerShares To Shut Door On 10 ETFs

Posted: 11 Oct 2010 06:17 PM PDT

Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds [[ETFs]] with more than $50 billion in franchise assets, announced that it plans to close 10 of its ETFs.
The 10 ETFs include:

PowerShares Dynamic Healthcare Services Portfolio (PTJ)
PowerShares Dynamic Telecommunications & Wireless Portfolio (PTE)
PowerShares FTSE NASDAQ Small Cap Portfolio (NASDAQ:PQSC)
PowerShares FTSE RAFI Europe Portfolio (PEF)
PowerShares FTSE RAFI Japan Portfolio … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Picks For Tuesday: GigaMedia Limited, American Oriental Bioengineering, THQ, A123 Systems

Posted: 11 Oct 2010 06:12 PM PDT

( click to enlarge )
Dear Traders, I hope your weekend was wonderful and that you’ve come back to the trading week excited about what I have to share with you. To start things off, let’s take a look at the daily chart of the GigaMedia Limited (NASDAQ:GIGM). The signal to buy was given today when the previous day high at $2.02 was taken out. On daily chart above we can see that the price broke above the trend line resistance at $2, indicating potential further upside pressure. The bias is … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Price Discrimination: Russians Get A Discount

Posted: 11 Oct 2010 05:48 PM PDT

It is well-known in Russia that citizens often get discounts to museums, cathedrals and other culturally important national and historic landmarks. But how do Russians get the discount?

One common method of price discrimination is illustrated in the picture above, which shows a sign at St. Issac’s Cathedral in St. Petersburg, Russia. The top sign says “ENTRANCE TO THE MUSEUM” in Russian. If you can read Russian, you enter to the left and go to a ticket counter that has a lower entrance … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Prof. Lewis: Climate Change Is The Greatest And Most Successful Pseudoscientific Fraud I Have Seen

Posted: 11 Oct 2010 05:23 PM PDT

87-year old Professor Hal Lewis, Emeritus Professor of Physics at the University of California-Santa Barbara, formally resigned from the American Physical Society (APS) last Wednesday after 67 years as a member.

From Professor Lewis’ resignation letter to Curtis G. Callan, Princeton University, President of the APS:

“For reasons that will soon become clear my former pride at being an APS Fellow all these years has been turned into shame, and I am forced, with no … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Tame Trading For Crude And Gold Underlined By Low Volume

Posted: 11 Oct 2010 05:16 PM PDT

North American Commodity Update
Commodities – Energy
Oil Falls Back into its Range as Trading Volume Drops by Nearly Two Thirds of Friday's Turnover
Crude Oil (LS Nymex) – $82.21 // -$0.45 // -0.54%
Overall price action on the active crude futures contract was tame Monday as traders found little guidance in the form of fundamental catalysts or underlying risk appetite trends. For price action, the benchmark energy asset its third decline in six sessions. Notably, this market has not seen a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


We Should Be Angry At What The Fed Has Pledged To Do To Us

Posted: 11 Oct 2010 05:01 PM PDT

Much of the content of the latest Fed statement, released on September 21, echoes the central bank’s previous post-credit crunch pronouncements: there is still too much slack in the economy, interest rates are still going to be near-zero for an “extended period,” and the Fed will continue to use payments from its Treasury purchases to buy yet more Treasuries.

But this recent statement uses a new turn of phrase that should have Americans very upset. The Fed says that “measures of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Big Hole

Posted: 11 Oct 2010 03:31 PM PDT

People have been throwing around numbers in the millions and billions and trillions since the crisis started. Over time, the data deluge has turned into a flood, and, occasionally, it is even hard for someone like me — who has been tracking and analyzing this stuff for a while — to get a grip on what it all means.
Maybe that’s the strategy: overwhelm the masses with endless zeroes and hope they either zone out or lose sight of the fact that those numbers represent decades of poor … [visit site to read more] or compare Best Credit Cards and Best CD Rates


MoneyGram Downed To Neutral

Posted: 11 Oct 2010 03:05 PM PDT

On Friday, we downgraded our recommendation on MoneyGram International Inc. (NYSE:MGI) to Neutral from Outperform. The company's second quarter loss modestly missed the Zacks Consensus Estimate. This was primarily attributable to a negative top-line growth based on lower revenue per transaction and shrunken investment revenue coupled with net securities loss. This more than offset the upside from higher money transfer transaction volumes and decreased operating expenses.

Moreover, increased … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Cardinal Snaps Up Antero Assets

Posted: 11 Oct 2010 03:05 PM PDT

Cardinal Midstream LLC, a privately held natural gas midstream company , has agreed to acquire certain assets of Antero Resources LLC, an oil and gas firm for $268 million in cash. As per the deal, which is expected to close in early November, the Denver-based Antero Resources LLC will sell natural gas midstream properties in the Woodford shale area of the Arkoma basin in Oklahoma to affiliates of Cardinal Midstream LLC.
The assets include Antero's 60% interest in Centrahoma Processing LLC, a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


InterMune Sells Drug Rights To Roche

Posted: 11 Oct 2010 02:35 PM PDT

InterMune Inc. (NASDAQ:ITMN) recently announced that it has sold the worldwide development and commercialization rights for its pipeline product, danoprevir, to Roche Holdings Ltd. (RHHBY) for $175 million. The candidate, which is currently in mid-stage trials for the treatment of hepatitis C, has demonstrated positive results in pre-clinical and early-stage trials.
Earlier, InterMune and Roche were developing danoprevir (also known as RG7227 and ITMN-191) under a collaboration agreement as signed … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Statoil Forms JV In South Texas

Posted: 11 Oct 2010 02:35 PM PDT

The Eagle Ford Shale play in south Texas created big news yesterday. Statoil ASA (NYSE:STO) and Talisman Energy Inc. (NYSE:TLM) entered into a definitive agreement to form a 50/50 joint venture for the acquisition of additional acreages in this play.
The news follows a deal between the leading U.S.natural gas producer Chesapeake Energy Corporation (NYSE:CHK) and Chinese offshore major CNOOC Ltd. (NYSE:CEO). Under this agreement, Chesapeake sold its one-third undivided interest in the Eagle Ford Shale to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


5 ETFs To Play Australia

Posted: 11 Oct 2010 02:17 PM PDT

Over the last century, Australia has outperformed its counterparties in the developed world, while offering one of the lowest volatilities to investors. As for the future, the Land Down Under is expected to continue its growth, providing returns and the path to opportunity for some. 
A major reason that the future remains prosperous for Australia is due to its close ties with Asia.  According to the International Monetary Fund (NYSE:IMF), exports to China and India have been growing at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Moody’s More Optimistic On Ford

Posted: 11 Oct 2010 02:05 PM PDT

Moody’s Investors Service, the credit rating agency of Moody’s Corporation (NYSE:MCO), has upgraded its ratings outlook on Ford Motor Co. (NYSE:F) based on improved operating performance of the automaker.

The rating agency raised Ford's corporate family rating from B1 to Ba2, two notches below investment grade. This is, in fact, an upgrade from CAA3 — nine levels below investment grade — assigned by the rating agency in December 2008, when the global economic crisis kicked in.

The rating agency … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Diamond Foods Beats Estimates

Posted: 11 Oct 2010 02:05 PM PDT

Diamond Foods Inc's (NASDAQ:DMND) fiscal fourth-quarter earnings from continuing operations came in at 34 cents per share, surpassing the Zacks Consensus Estimate of 28 cents. This also compares favorably with 25 cents incurred in the year-ago period. Net income from continuing operations for the quarter was $7.5 million versus $4.2 million reported in fourth-quarter 2009.

Including $1.3 million in acquisition and integration costs related to the purchase of Kettle Foods in March, Diamond Foods … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Edison To Revamp California Plant

Posted: 11 Oct 2010 02:05 PM PDT

Southern California Edison (SCE), a unit of Edison International (NYSE:EIX), is going to initiate a major construction program at Unit 3 of its San Onofre Nuclear Generating Station in California. As a part of this, the company is shutting down one of its two reactor units at the 1,080-megawatt plant this fall.
The construction project entails the replacement of the plant's steam generators, refueling the reactor and maintenance works at the plant. The company expects the construction outage at … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Investing In The Health Care Sector: What’s The Outlook?

Posted: 11 Oct 2010 02:01 PM PDT

The health care industry encompasses pharmaceuticals, medical devices, medical equipment, insurers, hospitals and long term care facilities. Each offers its own unique investment opportunities and challenges. Since the new health care reform bill was passed earlier this year, the questions surrounding the impact to both the consumer and businesses, remain a constant debate. Due to the complexity of the bill and the true impact has caused many investors to steer clear of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Entergy Redeems Bonds

Posted: 11 Oct 2010 01:35 PM PDT

Entergy Arkansas Inc., a unit of Entergy Corporation (NYSE:ETR), announced plans to buy back all of its 6% and 6.70% series bonds on November 8, 2010. The bonds to be redeemed include all of the company's outstanding First Mortgage Bonds in the 6% Series due November 1, 2032 and 6.70% Series due April 1, 2032, worth $100 million each.
 
The 6% Series Bonds are listed on the New York Stock Exchange and trade under the symbol EHB; and the 6.70% Series Bonds are listed on the New York Stock … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Conoco Signs Bangladesh Deal

Posted: 11 Oct 2010 01:06 PM PDT

ConocoPhillips (COP) signed an agreement with the Bangladesh state-run Petrobangla for the exploration of hydrocarbon in the Bay of Bengal. The deal is subject to the signing of a production sharing contract (PSC), which has been detained by disputes with Myanmar and India.
 
Conoco is set to explore around two blocks (block 10 and 11), which are situated in the undisputed region. The company is expected to initiate seismic surveys and exploration around those deepwater gas blocks after … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bristol-Zymo Deal Nears Completion

Posted: 11 Oct 2010 01:06 PM PDT

The impending acquisition of biotechnology firm ZymoGenetics Inc. (NASDAQ:ZGEN) by Bristol-Myers Squibb Co. (NYSE:BMY) moved forward another step with the pharma giant buying 94.9% (approximately 82.6 million shares) of ZymoGenetics in the cash tender offer that expired at midnight, New York City time, on October 7, 2010.
 
Bristol-Myers intends to seal the deal via a “short-form merger" (without a vote or meeting of the remaining ZymoGenetics stockholders). The cash tender offer to buy the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Constellation Acquires CPower

Posted: 11 Oct 2010 12:35 PM PDT

Constellation Energy Group Inc. (NYSE:CEG) has acquired privately held energy management company CPower. The acquisition added approximately 850 MW of demand response capacity that can be dispatched to energy markets throughout North America.
 
The transaction also expanded Constellation Energy's total demand response capacity to 1,500 MW, and both strengthened and complemented the company's position as a leading player in competitive electricity and natural gas supply. The company … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pipeline Setback For Targacept

Posted: 11 Oct 2010 12:35 PM PDT

Recently, Targacept Inc. (NASDAQ:TRGT) suffered a setback when its candidate AZD1446, developed for treating adults suffering from Attention Deficit Hyperactivity Disorder (ADHD), fared disappointingly in a mid-stage study. The multi-center, randomized, double-blind study was conducted by partner AstraZeneca Plc (NYSE:AZN). The candidate was licensed to AstraZeneca by Targacept following a deal inked in 2005.
 
The results from the placebo-controlled study revealed that treatment with AZD1446 did … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: GBPUSD Quietly Retreats

Posted: 11 Oct 2010 12:16 PM PDT

The GBBPUSD has wandered down today and it is currently below the 100 hour MA at 1.5903.  The GBPUSD has been largely contained over the last few weeks with volatile up and down action. Being below the 100 hour MA turns the bias to the down side.  A move below the 200 hour "confirming" moving average at the 1.5855 level should increase the bearish bias for the pair from a technical perspective.
This week CPI inflation will be eyed with expectations of the YoY remaining above the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Earnings Preview: Air Products

Posted: 11 Oct 2010 12:05 PM PDT

Air Products and Chemicals Inc. (NYSE:APD) is scheduled to report third quarter 2010 earnings on October 21, 2010, before the market opens.
 
Air Products expects fiscal 2010 earnings to grow over 20% as the global economy, led by Asia, experiences gradual recovery, coupled with the leverage in its existing capacity, new projects and improving productivity. As a result, the company lifted its guidance for fiscal 2010 again to $4.94−$5.00 per share from its previous guidance of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FDA Delays Alexza’s Adusuve

Posted: 11 Oct 2010 12:05 PM PDT

This morning the U.S. FDA issued a complete response letter (CRL) to Alexza Pharmaceuticals (NASDAQ:ALXA) on the approval of Adusuve Staccato (formerly AZ-004, Staccato loxapine) for the rapid treatment of agitation in patients with schizophrenia or bipolar disorder. The FDA raised four issues in the CRL with the new drug application for Adusuve:

1) The FDA raised concern on the clinical safety data from the three phase I pulmonary safety studies with AZ-004 based on observed, dose-related … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Earnings Preview: Universal Forest

Posted: 11 Oct 2010 12:05 PM PDT

Universal Forest Products Inc. (NASDAQ:UFPI) is slated to release its third-quarter 2010 results on Thursday, October 19. The current Zacks Consensus Estimate for the third quarter earnings per share (EPS) is 52 cents, representing an annualized growth of 2.45%.    
 
With respect to earnings surprises, over the trailing four quarters, Universal Forest outperformed the Zacks Consensus Estimate in two quarters, lagged behind in one, and in line with one. The average earnings … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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