DailyMarkets.com - Why Warren Buffett Picks Little-Known Hedge Fund Manager Todd Combs As His Successor

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• Why Warren Buffett Picks Little-Known Hedge Fund Manager Todd Combs As His Successor
• Hot Stocks To Know For Thursday: Broadcom, Microsoft, Toyota, 3M, Lockheed Martin, Shell, Banco Santander, AstraZeneca
• Breakout Or Breakdown?
• Forex Trading: USDJPY Falls To Next Support 80.84-88
• Swiss Franc: Under Pressure
• Japanese Yen: The Downside Prevails
• British Pound: Under Pressure
• Euro: Under Pressure
• Arris 3Q Mixed, Outlook Disappoints
• SK Telecom Profits Sink On Costs
• Stock Market News Briefs: Avon Products, Colgate-Palmolive Company, Dow Chemical Company, Duke Energy, Eastman Kodak Company, Las Vegas Sands Corp., Motorola, Potash Corporation Of Saskatchewan, Raytheon Company, Tyco Electronics Ltd., Visa
• ESRX Beats On EPS, Misses On Sales
• U.S. Stocks Advance After The Open; Dow Jones Gains 0.34%
• Forex – EUR/GBP Edges Down To 12-day Low Ahead Of EU Fiscal Summit
• Forex Trading: EURUSD Tests 100 And 200 Hour MA. A Good Area To Pause And Regroup?
• Skechers Misses
• Shutterfly Tops, Loss Narrows
• Range Tops On Record Volumes
• Enbridge Energy Outperforms
• Visa In Line With Zacks Est.
• Kodak Beats Zacks Estimate
• Forex – GBP/USD Surges To 7-day High After Unexpected Drop In Claims
• Flowserve Ahead Of Zacks Consensus
• Starwood Beats On EPS, Not On Sales
• Forex – EUR/USD Hits 2-day High After U.S. Jobless Claims Drop
• Forex Trading: USDJPY Moves Below 81.12. The 80.84-88 Next Target. 81.24 Key Resistance Above
• Strong Quarter For BorgWarner
• Shell Continues To Outperform
• Equity Residential Marginally Beats
• AvalonBay Beats FFO Estimates
• U.S. Initial Jobless Claims Fall Unexpectedly
• Forex Trading: GBPUSD Breaks Above Intraday Bull Flag. Stalls At Fibo Level
• PetroChina Reports Profit Growth
• Forex – Dollar Down Vs. Rivals As Initial Jobless Claims Eyed
• U.S. Dollar Tumbles Across The Board Amid Renewed Risk Appetite Ahead Of Tomorrow’s U.S. GDP Report
• Stocks To Watch On Thursday: Visa, Research In Motion, Express Scripts, Norfolk Southern, Symantec, BP, Shell, Sanofi-Aventis, Deutsche Bank, Barclays, HSBC

Why Warren Buffett Picks Little-Known Hedge Fund Manager Todd Combs As His Successor Posted: 28 Oct 2010 07:39 AM PDT Warren Buffett’s announcement Monday that a little-known hedge fund manager, Todd Combs, will help oversee his $100 billion investment portfolio at Berkshire Hathaway Inc. (BRK-B) (BRK-A) surprised investors and highlighted Buffett’s emphasis on risk management for investment success. Adding 39-year-old Combs to the Berkshire team makes him a top contender to take over Buffett’s investment management duties whenever the Oracle of Omaha leaves his company. “He is a 100% fit for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Stocks To Know For Thursday: Broadcom, Microsoft, Toyota, 3M, Lockheed Martin, Shell, Banco Santander, AstraZeneca Posted: 28 Oct 2010 07:30 AM PDT Wednesday had a similar feel to Tuesday. There was a fair amount of negative news/price action early and then a rally in the afternoon. The WSJ ran an article suggesting the Fed would take a measured approach to QE while in Europe Sovereign Spreads were blowing out (Greece +9%, Spain +3%). The Dollar rallied (DXY +.5%) and commodities (CRB -1%) came under pressure. Good US Macro (Durable Good, New Home Sales) led to a further unwind of the QE trade. The S&P futures hit their low … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Breakout Or Breakdown? Posted: 28 Oct 2010 07:23 AM PDT Fundamentals Crude Oil futures continue to trade between the $80 and $83 levels, seemingly unable to find a direction. The weakness in the US Dollar has supported Oil and other commodities. If you were to compare the Dollar and Oil charts during the month of October, they have an almost perfect inverse relationship. While the greenback’s weakness has been supportive for Crude Oil, the failure of the petroleum market to deviate from this relationship indicates that there may be plenty of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Falls To Next Support 80.84-88 Posted: 28 Oct 2010 07:18 AM PDT … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Under Pressure Posted: 28 Oct 2010 07:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Japanese Yen: The Downside Prevails Posted: 28 Oct 2010 07:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

British Pound: Under Pressure Posted: 28 Oct 2010 07:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro: Under Pressure Posted: 28 Oct 2010 07:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Arris 3Q Mixed, Outlook Disappoints Posted: 28 Oct 2010 07:10 AM PDT Yesterday, after the closing bell, Arris Group Inc. (NASDAQ:ARRS) declared its third quarter 2010 financial results that barely meet our expectations. However, an extremely week fourth quarter financial guidance resulted in the stock price reduction of 50 cents (5.32%) to $8.89 in the aftermarket trade on NASDAQ. GAAP net income in the third quarter was $14.1 million or 11 cents per share compared with a net income of $21.7 million or 17 cents per share in the prior-year quarter. Adjusted (excluding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SK Telecom Profits Sink On Costs Posted: 28 Oct 2010 07:05 AM PDT SK Telecom Corp. Ltd. (NYSE:SKM), a leading South Korean telecom operator, declared depressed financial results for third quarter 2010. Net income plunged 13% year over year to KRW 364 billion ($309 million) due to higher investment in network as well as increased marketing campaign costs. Revenues Revenues upped 4% to KRW 3.181 trillion ($2.70 billion) boosted by solid smartphone growth and record-breaking wireless Internet revenue. Total cellular service revenue grew 3% year over year to KRW … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Avon Products, Colgate-Palmolive Company, Dow Chemical Company, Duke Energy, Eastman Kodak Company, Las Vegas Sands Corp., Motorola, Potash Corporation Of Saskatchewan, Raytheon Company, Tyco Electronics Ltd., Visa Posted: 28 Oct 2010 07:05 AM PDT  Visa (NYSE:V) posted inline fiscal fourth quarter results of $0.95 on revenues of $2.12 billion up from Zacks projections of $2.08 billion  Las Vegas Sands (NYSE:LVS) reported estimate-topping third quarter results of $0.34, ahead of Zacks estimates of $0.23, on revenues of $1.91 billion that beat estimates of $1.78 billion  Colgate-Palmolive (NYSE:CL) posted third quarter earnings of $1.21, up from Zacks estimates of $1.19, on revenues of $3.94 billion that missed estimates of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ESRX Beats On EPS, Misses On Sales Posted: 28 Oct 2010 07:05 AM PDT Express Scripts Inc.'s (NASDAQ:ESRX) third quarter earnings of 65 cents per share (excluding special items) were in line with the Zacks Consensus Estimate but well above the year-ago adjusted earnings of 42 cents. On a reported basis (including special items), the company earned 57 cents per share as against 35 cents earned a year ago. Earnings in the quarter were driven by the 100.5% jump in revenues to $11.3 billion during the quarter. In spite of the jump, revenues fell short of the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Advance After The Open; Dow Jones Gains 0.34% Posted: 28 Oct 2010 06:58 AM PDT Forex Pros – U.S. stocks were up after the open on Thursday, as investor confidence was lifted by upbeat corporate earnings reports and better-than-expected data on U.S. jobless claims. During early U.S. trade, the Dow Jones Industrial Average gained 0.34%; the S&P 500 index rose 0.47%, while the Nasdaq Composite index was up 0.21%. In earnings news, shares in the world's largest casino company Las Vegas Sands soared 9.60% after the company reported a third-quarter profit, after net … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Edges Down To 12-day Low Ahead Of EU Fiscal Summit Posted: 28 Oct 2010 06:49 AM PDT Forex Pros – The euro was down against the pound on Thursday, falling to hit a fresh 12-day low ahead of a potentially devisive EU summit meeting to examine proposals for tougher sanctions against governments failing to observe deficit caps. EUR/GBP hit 0.8702 during European afternoon trade, the pair's lowest since October 12; the pair subsequently consolidated at 0.8721, shedding 0.12%. The pair weas likely to find short-term support at 0.8686, the low of October 6 and resistance at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests 100 And 200 Hour MA. A Good Area To Pause And Regroup? Posted: 28 Oct 2010 06:46 AM PDT The EURUSD reached a peak of 1.3897, just short of the 100 and 200 hour resistance at the 1.3898 level. When the two moving averages and price converge it is indicative of a non-trending market. Typically, the market price moves away from the level. Since the EURUSD has had a steady climb higher today that has taken the pair up from a low of 1.3733 during yesterdays NY PM trading, the market is likely to pause the ascent.   Support is likely to come in at the 1.3861 area … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Skechers Misses Posted: 28 Oct 2010 06:35 AM PDT Skechers USA Inc. (NYSE:SKX), the designer, marketer and distributor of footwear, recently delivered third-quarter 2010 results that missed the Zacks' expectation for both the top and bottom lines. The Zacks Consensus Estimate had been falling prior to the earnings announcement. The quarterly earnings of 74 cents a share jumped 42.3% from 52 cents delivered in the prior-year quarter but missed the Zacks Consensus Estimate of $1.00. Skechers, which competes with Deckers Outdoor Corporation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Shutterfly Tops, Loss Narrows Posted: 28 Oct 2010 06:30 AM PDT Shutterfly Inc. (NASDAQ:SFLY) reported adjusted third-quarter 2010 loss of 8 cents per share, lower than the loss of 11 cents in year-earlier quarter and the Zacks Consensus Estimate of 26 cents loss per share. The results were also better of the guidance range of 18 cents to 16 cents loss per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Range Tops On Record Volumes Posted: 28 Oct 2010 06:30 AM PDT Range Resources Corp. (NYSE:RRC) reported better-than-expected third-quarter earnings of 12 cents per share, compared with the Zacks Consensus Estimate of 4 cents, mainly attributable to the record production level. However, the reported quarter's figure was down from the year-earlier earnings of 26 cents. Revenue in the quarter increased 11.5% year over year to $227 million, compared with the Zacks Consensus Estimate of $243 million. Operational Performance Third-quarter production volume was a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Enbridge Energy Outperforms Posted: 28 Oct 2010 06:06 AM PDT Enbridge Energy Partners L.P. (NYSE:EEP) reported significantly better-than-expected third-quarter 2010 earnings of 76 cents per unit, compared with the Zacks Consensus Estimate of 65 cents. However, earnings were lower than year-over-year figure of 86 cents. Total revenue in the quarter increased 39% year over year to $1.89 billion, compared with the Zacks Consensus Estimate of $1.77 billion. Despite crude oil spill in lines 6A and 6B during the quarter, solid contribution from the Liquids … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Visa In Line With Zacks Est. Posted: 28 Oct 2010 06:06 AM PDT Yesterday, Visa Inc.'s (NYSE:V) fiscal fourth quarter 2010 (ended September 30, 2010) operating earnings of 95 cents per Class A common share were in line with the Zacks Consensus Estimate but came in substantially ahead of 74 cents reported the year-ago quarter on lower share count. Visa's GAAP net income for the quarter came in at $774 million or $1.06 per share, dramatically increasing 50.6% from $514 million or 69 cents per share in the year-ago quarter. Operating income substantially … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Kodak Beats Zacks Estimate Posted: 28 Oct 2010 06:06 AM PDT Eastman Kodak Company (NYSE:EK) reported improved results for the third quarter of fiscal 2010 with a loss per share (excluding one-time items) of 2 cents from a loss per share of 23 cents in the year-ago quarter. Reported loss per share was much better than the Zacks Consensus Estimate of a loss of 31 cents per share. Net loss came in at $5.0 million from a loss of $63 million in the third quarter of fiscal 2009. Kodak reported sales of $1,758 million, representing a decrease of 1% year over year … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Surges To 7-day High After Unexpected Drop In Claims Posted: 28 Oct 2010 06:05 AM PDT Forex Pros – The pound extended gains against the U.S. dollar on Thursday, surging to a fresh 7-day high after the release of official data showing that the number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly. GBP/USD hit 1.5939 during European afternoon trade, the pair's highest since October 19; the pair subsequently consolidated at 1.5922, jumping 0.96%. Cable was likely to find support at 1.5650, the low of October 22 and resistance at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Flowserve Ahead Of Zacks Consensus Posted: 28 Oct 2010 05:45 AM PDT Flowserve Corp. (NYSE:FLS) reported third quarter 2010 earnings per share of $1.84 from continuing operations, exceeding the Zacks Consensus Estimate of $1.81.  Excluding realignment charges of 3 cents, earnings per share were down primarily due to an erosion of gross margin by 230 basis points. There was a reduction of $20 million in SG&A expenses compared with the prior-year quarter. Sales for the quarter were $972 million, down 7.6%, or 4.5% excluding negative currency effects of $32 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Starwood Beats On EPS, Not On Sales Posted: 28 Oct 2010 05:45 AM PDT Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) reported its third-quarter adjusted earnings from continuing operations of 25 cents, ahead of the Zacks Consensus Estimate of 22 cents and the year-earlier quarter's earnings of 14 cents. The earnings outpaced the guidance range of 15 cents to 19 cents. On a GAAP basis, including a loss of $56 million from asset disposition, Starwood incurred a loss of 3 cents per share compared with the year-ago gain of 20 cents. The quarter's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Hits 2-day High After U.S. Jobless Claims Drop Posted: 28 Oct 2010 05:43 AM PDT Forex Pros – The euro extended gains against the U.S. dollar on Thursday, soaring to a 2-day high after the release of significantly better-than-expected data on U.S. initial jobless claims. EUR/USD hit 1.3888 during European afternoon trade, the pair's highest since Tuesday; the pair subsequently consolidated at 1.3873, gaining 0.77%. The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.3981, Tuesday's high. Earlier in the day, official data showed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Moves Below 81.12. The 80.84-88 Next Target. 81.24 Key Resistance Above Posted: 28 Oct 2010 05:37 AM PDT   The USDJPY has moved below the 81.12 level and despite the strong Initial Claims, the price is remaining down. Watch the 100 and 200 hour MA at the 81.24 level for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Strong Quarter For BorgWarner Posted: 28 Oct 2010 05:37 AM PDT BorgWarner Inc. (NYSE:BWA) posted net earnings of $111.7 million or 87 cents per share during the third quarter of 2010 compared with $17.2 million or 15 cents per share reported a year ago. Net earnings included a positive impact from reversal of foreign tax credit valuation allowance of $21.2 million. Excluding this impact, adjusted EPS was 71 cents during the quarter, outpacing the Zacks Consensus Estimate of 63 cents. Sales amounted to $1.41 billion, up 37.3% from $1.03 billion in the same … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Shell Continues To Outperform Posted: 28 Oct 2010 05:37 AM PDT Europe's largest oil company Royal Dutch Shell plc (RDS.A) reported strong third quarter 2010 results, buoyed by a robust operating environment, production growth and cost cutting initiatives.  Earnings per ADR (on a current cost of supplies basis), excluding one-time items and gains or losses from inventories, came in at $1.61, significantly ahead of the year-ago result of 86 cents and also exceeded the Zacks Consensus Estimate of $1.34. Revenues were up 20.9% to $90.7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Equity Residential Marginally Beats Posted: 28 Oct 2010 05:37 AM PDT Equity Residential (NYSE:EQR), a leading real estate investment trust (REIT), reported fiscal 2010 third quarter funds from operations (FFO) of $166.2 million or 55 cents per share, compared to $154.4 million or 53 cents in the year-ago quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The third quarter 2010 FFO marginally beat the Zacks Consensus Estimate by a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AvalonBay Beats FFO Estimates Posted: 28 Oct 2010 05:37 AM PDT AvalonBay Communities Inc. (NYSE:AVB), a leading real estate investment trust (REIT), reported fiscal 2010 third quarter funds from operations (FFO) of $84.5 million or 98 cents per share, compared with $87.7 million or $1.09 in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The quarter’s FFO beat the Zacks Consensus Estimate by 2 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Initial Jobless Claims Fall Unexpectedly Posted: 28 Oct 2010 05:36 AM PDT Forex Pros – The number of people who filed for unemployment assistance in the U.S. last week fell unexpectedly, dropping to their lowest in three months, official data showed on Thursday. In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 23 fell to a seasonally adjusted 434K, after falling to 455K in the preceding week, whose figure was revised up from 452K. Analysts had expected initial jobless claims to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Breaks Above Intraday Bull Flag. Stalls At Fibo Level Posted: 28 Oct 2010 05:25 AM PDT … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PetroChina Reports Profit Growth Posted: 28 Oct 2010 05:21 AM PDT Chinese energy giant PetroChina Co. Ltd. (PTR) announced its third quarter 2010 earnings of RMB 34.7 billion or RMB 0.19 per diluted share, compared with RMB 30.8 billion or RMB 0.17 per diluted share in the year-earlier period. Earnings per ADR came in at $2.84 (exchange rate: US$1.00 = RMB 6.7, 1 ADR = 100 shares). The positive comparisons can be primarily attributable to higher commodity prices and stronger volumes amid robust domestic energy demand. PetroChina's total revenue for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Down Vs. Rivals As Initial Jobless Claims Eyed Posted: 28 Oct 2010 05:04 AM PDT Forex Pros – The U.S. dollar was down against all of the other major currencies on Thursday, ahead of the release of key weekly U.S. employment data. During European early afternoon trade, the greenback was down against the euro, with EUR/USD rising 0.58% to hit 1.3848. Earlier Thursday, the euro zone CB economic-sentiment index rose to 104.1 in October, up from 103.2 in September. The greenback was also down against the pound, with GBP/USD surging 0.69% to hit 1.5879. Earlier in the day, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Dollar Tumbles Across The Board Amid Renewed Risk Appetite Ahead Of Tomorrow’s U.S. GDP Report Posted: 28 Oct 2010 04:45 AM PDT         Fundamental Headlines • Easing Uncertainty Pushes Dollar Lower– Wall Street Journal • Strong Earnings Lift Europe's Markets – Wall Street Journal • Earnings and Falling Dollar Improve Investors' Mood – Financial Times • Fed Asks Dealers To Estimate Size, Impact of Debt Purchases – Bloomberg • Europe Economic Confidence Improves More Than Forecast – Bloomberg EURUSD: Economic confidence in the 16 member euro area topped expectations … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch On Thursday: Visa, Research In Motion, Express Scripts, Norfolk Southern, Symantec, BP, Shell, Sanofi-Aventis, Deutsche Bank, Barclays, HSBC Posted: 28 Oct 2010 04:38 AM PDT Equities finished the session mixed amid WSJ report which suggested that the Fed may take a more measured approach to any QE announcement. In addition, disappointing durable goods data outweighed better new home sales numbers and led stocks to endure a bout of selling pressure. Elsewhere, NASDAQ 100 outperformed its peer, with Research In Motion (NASDAQ:RIMM) (+1.95%) among the best performing stocks there as analysts continued to praise co.'s PlayBook. The second half of the session saw … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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