DailyMarkets.com - What To Do If There’s A Bank Error In Your Favor?

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• What To Do If There’s A Bank Error In Your Favor?
• CIT Reduces $860 Million Of Debt
• Mindray To Demo New Products
• Hot Stocks To Know For Friday: IBM, Adobe, Microsoft, Micron Technology, Alcoa, Sanofi-Aventis, Genzyme, Barclays, Credit Suisse, HSBC
• Emerson’s NextGen DCIM Solution
• Air Product Wins Contract
• Gain Of +863,000 Private Payroll Jobs This Year
• Lunar Cycle Update
• Stocks To Watch On Friday: Microsoft, Adobe, Alcoa, Micron, Genzyme, BHP Billiton, Potash, Rio Tinto, HSBC, Sanofi Aventis
• Genzyme Rejects Sanofi Again
• Payroll Numbers In-Line, Unfortunately
• Atmel Completes Smart Card Deal
• Stock Market News Briefs: Barclays PLC, Citigroup, Credit Suisse Group, Goldman Sachs Group, Micron Technology, Motorola, Owens-Illinois, Pepsico, Amazon.com, Expedia, Google, Priceline.com Incorporated
• DaVita Prices Notes
• Another Horrible Jobs Report — And Why The Great Jobs Recession Continues
• Speculators Shun Bull Market In Bonds
• Exxon To Shed GoM Assets
• Mechel Flips Losses
• Micron Misses Expectations
• Medicines Co. Upped To Outperform
• TransDigm To Boost OEM Capability
• Wells Fargo Pays $24M To End Probe
• AvanlonBay On Acquisition Spree
• Plains Buys Eagle Ford Acreage
• Should We Have Trusted The Chinese To Let The Yuan Appreciate?
• Suntech Betting Big On Smart Panel
• Alcoa Beats, Raises Outlook
• Canada’s Employment Report Unexpectedly Drops 6.6K In September

What To Do If There’s A Bank Error In Your Favor? Posted: 08 Oct 2010 07:50 AM PDT Many people suffer the apparent loss of money due to bank errors, to which they usually report immediately and get the money back. But, what happens when you get a bank error in your favor? Those are sometimes harder to report to the bank immediately, due to the fact that it seems like a good thing that there was a bank error in your favor. It all comes down to your values. The money is not yours, and sooner or later the bank will find out and withdraw the money that was deposited in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CIT Reduces $860 Million Of Debt Posted: 08 Oct 2010 07:35 AM PDT On Tuesday, CIT Group Inc. (NYSE:CIT) announced that it will repay its entire outstanding 10.25% Series B second lien notes amounting to approximately $860 million. As per the terms, the company has set the redemption price at 103.5% of the total principal amount.    CIT Group aims to complete the redemption on November 4, having already given the redemption notice to the trustees. These 10.25% Series B notes are maturing in 2015 and 2016. After the completion of this redemption, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mindray To Demo New Products Posted: 08 Oct 2010 07:35 AM PDT Mindray Medical International Limited (NYSE:MR), a leading Chinese medical devices maker, will feature its new products at the upcoming China International Medical Equipment Fair (“CMEF”), scheduled to be held in Shenyang from October 12 -15, 2010. CMEF is the largest exhibition of medical equipment in the Asia-Pacific region.   Mindray reckons the CMEF as the ideal platform to demonstrate its expanding portfolio of high-quality products and its sustained R&D commitment to provide … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Stocks To Know For Friday: IBM, Adobe, Microsoft, Micron Technology, Alcoa, Sanofi-Aventis, Genzyme, Barclays, Credit Suisse, HSBC Posted: 08 Oct 2010 07:31 AM PDT U.S. stocks fell Thursday, sending the S&P 500 Index lower for a second day, as mining and energy companies fell after commodity prices erased gains and PepsiCo (NYSE:PEP) led consumer-staples shares lower. Chevron (NYSE:CVX) and Freeport-McMoRan Copper & Gold (NYSE:FCX) paced losses in commodity producers as a rebound in the dollar drove down oil and metals prices. PepsiCo shed 3% percent after lowering the top end of its annual profit forecast, while Marriott International (NYSE:MAR) slumped … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Emerson’s NextGen DCIM Solution Posted: 08 Oct 2010 07:10 AM PDT Emerson Electric Co. (NYSE:EMR), though its Network Power business, has launched its next generation strategic data center infrastructure management (DCIM) solution. The new system, Avocent Data Center Planner, is Emerson's latest addition to its DCIM portfolio. The Avocent Data Center Planner facilitates the IT managers to manage the rapidly changing and complex data center environment both holistically and efficiently. Customers can administer the physical infrastructure of a data center and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Air Product Wins Contract Posted: 08 Oct 2010 07:10 AM PDT Industrial gas producer, Air Products and Chemical's Inc. (NYSE:APD) has inked a long-term gas deal with a leading Malaysian photovoltaic manufacturer. Under the terms of the contract, Air Products will supply its SunSource™ Solutions gases such as nitrogen, hydrogen, argon, oxygen, silane, ammonia and nitrogen trifluoride, gases equipment and services to the clients' crystalline photovoltaic facility in Melaka, Malaysia. Air products stated that the undisclosed California-based customer … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gain Of +863,000 Private Payroll Jobs This Year Posted: 08 Oct 2010 07:06 AM PDT Some highlights of today’s employment report: 1. The September jobless rate remained unchanged at 9.6%. 2. Private-sector payroll employment increased in September for the ninth straight month (every month this year).  The increase of 64,000 jobs last month brings the total number of private-sector jobs added this year to 863,000, which is the largest 9-month gain in private payroll employment since the summer of 2007 (see top chart above). 3. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lunar Cycle Update Posted: 08 Oct 2010 07:00 AM PDT I wrote the following on September 24, on the eve of the last Full Moon: “This is one time I don’t mind being on the losing end of a score. Since the market moved nicely for the past couple of weeks as it barrels ahead to the 1150-1164 hurdle, the Moon’s batting average dropped to 66.7% over the previous 12 months and 67.7% since I started keeping track. With the way market momentum seems to be expanding (at 1146, it’s excitingly close the hurdle this morning), I’d be disappointed if the next … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch On Friday: Microsoft, Adobe, Alcoa, Micron, Genzyme, BHP Billiton, Potash, Rio Tinto, HSBC, Sanofi Aventis Posted: 08 Oct 2010 06:40 AM PDT Equities finished the session mixed as traders booked profits ahead of the crucial jobs report. The move lower was led by the telecommunication and basic materials stocks that fell on the back of a stronger USD. The latter half of the session saw major averages pare back some of the earlier losses but fail to move into positive territory. Worth noting several stock news: NY Times reported that Microsoft (NASDAQ:MSFT) (+0.41%) executives met with Adobe (NASDAQ:ADBE) (+11.5%) which saw Adobe … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genzyme Rejects Sanofi Again Posted: 08 Oct 2010 06:35 AM PDT In response to the hostile takeover bid launched by Sanofi Aventis (NYSE:SNY), Genzyme Corp.'s (NASDAQ:GENZ) Board of Directors once again rejected Sanofi's proposal and urged shareholders to refrain from tendering their shares to Sanofi.   On Oct 4, Sanofi had 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.   Offer Deemed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Payroll Numbers In-Line, Unfortunately Posted: 08 Oct 2010 06:35 AM PDT This morning, the long-expected nonfarm payroll numbers from the Bureau of Labor Statistics were released, and the headline numbers were mixed, albeit more or less in line with expectations. We lost 95,000 jobs in the month of September, but the unemployment rate remained unchanged at 9.6%. The 95,000 number is larger than was generally expected; the expiring federal Census jobs totaled 77,000 in the month (70,000 was expected by IHS Global Insight) and private employment rose by 64,000, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Atmel Completes Smart Card Deal Posted: 08 Oct 2010 06:35 AM PDT Atmel Corporation (NASDAQ:ATML) recently completed the previously announced sale of its Smart Card (SMS) business based in Rousset, France and East Kilbride, U.K. to INSIDE Contactless for $32 million and an additional cash consideration of up to $21 million if certain earn-out targets are met in 2010 and 2011. SMS business generated sales of approximately $27 million in the second quarter of 2010. As part of the proposed transaction, Atmel would make a minority investment of $4 million in INSIDE … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Barclays PLC, Citigroup, Credit Suisse Group, Goldman Sachs Group, Micron Technology, Motorola, Owens-Illinois, Pepsico, Amazon.com, Expedia, Google, Priceline.com Incorporated Posted: 08 Oct 2010 06:35 AM PDT  Micron Technology (NYSE:MU) posted disappointing fiscal fourth quarter earnings of 32 cents a share, a 6-penny miss, even as revenues surged 91.5% to $2.5 billion, below estimates of $2.7 billion  Goldman Sachs (NYSE:GS) removed PepsiCo (NYSE:PEP) from its Conviction Buy List, but kept its “buy” rating, dropping the price target to $75 from $76  Barclay’s (NYSE:BCS) downgraded Credit Suisse (NYSE:CS) to “underperform” from “equal perform”  Goldman Sachs (NYSE:GS) removed Amazon.com … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DaVita Prices Notes Posted: 08 Oct 2010 06:35 AM PDT Moving ahead with its debt restructuring activity, on Tuesday, DaVita Inc. (NYSE:DVA) announced the pricing of $775 million principal amount of 6⅜% senior notes due 2018 and $775 million principal amount of 6⅝% senior notes due 2020 totaling $1.55 billion. The net proceeds from the offering will be used to redeem another set of outstanding 6⅝% senior notes due 2013 and 7¼% senior subordinated notes due 2015. DaVita has appointed Banc of America Securities LLC, an arm of Bank of America … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Another Horrible Jobs Report — And Why The Great Jobs Recession Continues Posted: 08 Oct 2010 06:33 AM PDT America's private sector generated 64,000 jobs in September — just about half the number needed to keep up with the growth in the labor force. (Government, meanwhile, shed jobs.) That means American workers are in worse shape today than they were a year ago. The Great Jobs Recession continues. And we won't get out of it until we face and deal with the structural problem at its core: A record share of the nation's income going to the top, leaving the vast middle without enough purchasing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Speculators Shun Bull Market In Bonds Posted: 08 Oct 2010 06:17 AM PDT Fundamentals Bond market participants are taking a breather, with prices near contract highs, as traders prepare for the highly anticipated non-farm payrolls report for September which is scheduled for release Friday morning at 7:30 am Chicago time. Traders have received mixed data as to the state of the jobs market in the U.S., with the ADP/Macroeconomic Advisers National Employment Report showing that private-sector employment fell by 39,000 jobs in September, which is well below the +20,000 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Exxon To Shed GoM Assets Posted: 08 Oct 2010 06:05 AM PDT ExxonMobil Corporation (NYSE:XOM) intends to sell a few of its oil and gas production assets in the shallow water of Gulf of Mexico (GoM), including some pipeline holdings, in order to manage its portfolio.   In the initial divestiture phase, the oil giant will shed pipeline assets and platforms situated along the central Gulf Coast that produce approximately 12,000 barrels of oil per day and 49 million cubic feet of natural gas per day, or about 14% of the company’s oil and gas production in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mechel Flips Losses Posted: 08 Oct 2010 06:05 AM PDT Russian mining company, Mechel OAO (NYSE:MTL) recorded net income of $120.8 million in the first half of 2010, flipping losses of $471.4 million in the first half of 2009. Revenues in the first half soared 76.1% year over year to $4.3 billion on higher sales volume, particularly of coking coal. Sales were previously impacted by weak demand for steel and coking coal, as well as foreign exchange losses. Higher revenues and lower production costs yielded operating income of $555.1 million against … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Micron Misses Expectations Posted: 08 Oct 2010 06:05 AM PDT Micron Technology Inc. (NYSE:MU) reported adjusted fourth quarter earnings per share of 30 cents, which missed the Zacks Consensus Estimate of 40 cents. Subsequently, shares fell 8 cents after the market closed, representing a decline of 1.13%.   Revenue   Total revenues were $2.49 billion, up 91.5% year over year and 9.0% sequentially. However, the reported revenues were below the Zacks Consensus Estimate of $2.68 billion. The quarter's revenues include significant contribution from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Medicines Co. Upped To Outperform Posted: 08 Oct 2010 06:05 AM PDT We recently upgraded The Medicines Company (NASDAQ:MDCO) to Outperform based on our improved outlook on the stock. In August 2010, The Medicines Company received good news when the US District Court for the Eastern District of Virginia ordered the US Patent and Trademark Office (PTO) to treat the company's patent term extension application for lead product Angiomax as having been filed on a timely basis.   Following this ruling, the PTO granted a one-year interim extension of the principal US … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TransDigm To Boost OEM Capability Posted: 08 Oct 2010 06:05 AM PDT TransDigm Group Inc. (NYSE:TDG) will be looking to give a fillip to its air transport OEM and aftermarket capability by acquiring McKechnie Aerospace Holdings Inc. for $1.27 billion. The purchase price takes into account the retirement of all outstanding debt of the target. The transaction is expected to close in the fourth quarter of 2010 after meeting customary closing conditions.   McKechnie has major manufacturing capabilities in the OEM and aftermarket segments for the entire range of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wells Fargo Pays $24M To End Probe Posted: 08 Oct 2010 06:05 AM PDT The time is out of joint for Wells Fargo & Co. (NYSE:WFC). The company has agreed to pay up $24 million to settle a probe by eight states about a mortgage marketing practice of its acquired company, Wachovia.   The states alleged a lack of transparency in the loan payment options of Wachovia Corp. and a California company it bought, World Savings Bank. They claimed that the mortgage marketing practices that were adopted did not disclose the risks associated with them.    The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AvanlonBay On Acquisition Spree Posted: 08 Oct 2010 06:05 AM PDT AvalonBay Communities Inc. (NYSE:AVB), a real estate investment trust (REIT) primarily focusing on developing multi-family apartment communities, has recently acquired two apartment homes in Maryland for $146 million. The acquisition is part of the long-term strategy of the company to own assets in high barrier-to-entry markets of the Northeast, Mid-Atlantic, Midwest and West Coast regions of the U.S., where there is very limited new apartment construction.   AvalonBay acquired Grove Park … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plains Buys Eagle Ford Acreage Posted: 08 Oct 2010 06:05 AM PDT With a strong focus on eliminating its offshore exposure, Plains Exploration & Production Company (NYSE:PXP) continues to build on new onshore oil-producing prospects. The company expects average sales volumes of 89 thousand barrels of oil equivalent per day in the third quarter of 2010.   The company recently acquired significant acreage in the Eagle Ford shale play in South Texas. Plains has agreed to pay $578 million in cash for roughly 60,000 net acres in the Karnes County of South … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Should We Have Trusted The Chinese To Let The Yuan Appreciate? Posted: 08 Oct 2010 05:58 AM PDT To what degree can international trading partners trust each other in the face of an ongoing decline in overall aggregate global demand for goods and services?  More specifically, to what degree can the two major economic superpowers, those being the United States and China, trust each other in the midst of major economic challenges. While everybody can smile for the camera at trade conferences and international economic summits, what happens when those officials go … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Suntech Betting Big On Smart Panel Posted: 08 Oct 2010 05:35 AM PDT Suntech Power Holdings Company Ltd.(NYSE:STP) has entered a collaboration agreement with three companies to boost its offering of Smart Panel Technology. The company has entered an agreement with Azuray Technologies, Enphase Energy and National Semiconductor.   Suntech Power aims to increase its solar energy generation from its panels by using Azuray Technologies' maximum power point tracking (MPPT) DC to DC technology, which yields up to 25% greater solar energy from panels. Azuray … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Alcoa Beats, Raises Outlook Posted: 08 Oct 2010 05:35 AM PDT Shares of Alcoa Inc. (NYSE:AA) advanced about 3% to $12.54 in after hours with the aluminum major reporting net earnings of $96 million or 9 cents per share (excluding non-recurring charges of 3 cents), outperforming the Zacks Consensus Estimate of 6 cents and last year's net income of $39 million or 4 cents per share (net of one-time charges). Encouraging full year 2010 guidance further triggered positive market sentiments. Alcoa anticipates a 13% (higher than the prior guidance of 12%) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canada’s Employment Report Unexpectedly Drops 6.6K In September Posted: 08 Oct 2010 04:44 AM PDT          Fundamental Headlines • Dollar Drubbing Takes A Breather – Wall Street Journal •Osborne Credits U.K. Austerity Plan Stimulus Checks Sent to Dead – Wall Street Journal • Investors Price In U.S. Inflation Fears- Financial Times •Global Government Debt Levels On "Explosive Path," S&P Says – Bloomberg • Trichet On "Battlefield" Edge as Policy Propels Euro to $1.40– Bloomberg USDCAD: Canada's net change in employment … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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