Wednesday, October 27, 2010

DailyMarkets.com - Why You Shouldn’t Close Your Credit Card Accounts

DailyMarkets.com - Why You Shouldn’t Close Your Credit Card Accounts


Why You Shouldn’t Close Your Credit Card Accounts

Posted: 27 Oct 2010 07:44 AM PDT

If you have any late payments, charge-offs or overspending associated with your credit card accounts, closing an account won't correct anything.

This is because the account history is in your credit report for at least seven years. You simply can’t change your past.

Don't worry though; most negative items in your credit report will become less important with time. However, by canceling a credit card account, your good history might disappear as well.

Another reason why it’s a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hot Stocks To Know For Wednesday: Apple, Cisco, Microsoft, Yahoo, Google, Research In Motion, Juniper Networks, IBM, British Airways, SAP, Deutsche Bank, Elan, F5 Networks, Equinix, Novellus Systems, United States Steel, Ford

Posted: 27 Oct 2010 07:31 AM PDT

The market put in a respectable performance Tuesday considering the amount of negative news. Despite Ford (NYSE:F) beating expectations by a whopping 25 percent the stock only rallied 1.5 percent. Three of the major Steel Players – Arcelor Mittal (NYSE:MT), United States Steel (NYSE:X), AK Steel (NYSE:AKS) – missed and fell 4 percent on average. Meanwhile Kimberly-Clark (NYSE:KMB), the maker of Huggies nappies and Kleenex tissues, lost 5.8 percent as profit dropped amid higher costs for materials. But … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Is The Recovery In Corporate Profit Margins Over?

Posted: 27 Oct 2010 07:19 AM PDT

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


Wheat Prices Rebound Despite Dollar’s Gains

Posted: 27 Oct 2010 07:17 AM PDT

Fundamentals
Defying the effects of a stronger U.S. Dollar on Tuesday, Wheat futures climbed nearly 3%, as lower than expected crop condition ratings for U.S. Winter Wheat plus continued concerns about Wheat supplies from Eastern Europe and Russia overtook the positive “greenback effect”. The USDA announced in its weekly crop progress report that only 47% of the Winter Wheat crop was rated good to excellent, vs. 62% this time last year. The tough start to the U.S. Wheat crop is making some … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Sprint Surpasses, Loss Widens Again

Posted: 27 Oct 2010 07:05 AM PDT

Sprint Nextel (NYSE:S), the third-largest U.S. wireless carrier, reported third quarter 2010 adjusted net loss per share of 18 cents, which surpassed the Zacks Consensus Estimate of net loss of 28 cents. Adjusted earnings excluded a one-time tax related to non-cash charge of $365 million (12 cents per share). Sprint reported its third quarter results before the opening bell.
On a GAAP basis, Sprint posted a net loss of $911 million (30 cents per share), 91% more than the net loss of $478 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates


CB Richard Ellis EPS Soars

Posted: 27 Oct 2010 07:05 AM PDT

CB Richard Ellis Group Inc. (NYSE:CBG) reported third-quarter 2010 revenues of $1.3 billion compared with $1.0 billion in the year-earlier quarter, reflecting an increase of 24%. The revenues in the reported quarter beat the Zacks Consensus Estimate of $1.2 billion.
 
The company reported a net income of $57.0 million or 18 cents per share during the quarter, compared with $12.4 million or 4 cents in the year-ago period. Excluding non-recurring items, CB Richard Ellis reported a net income of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Markets/Websites In Everything

Posted: 27 Oct 2010 07:04 AM PDT

It’s not exactly a “market,” but here a free website (donations are accepted) that helps you when “I Can’t Find My Phone.” Amazing.

HT: Nicholas Bretagna … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian National Beats On Volumes

Posted: 27 Oct 2010 06:50 AM PDT

The largest rail network in Canada, Canadian National Railway Company (NYSE:CNI) reported adjusted earnings per share of C$1.19 ($1.14) in the third quarter of 2010, easily surpassing the Zacks Consensus Estimate of $1.12.
Adjusted earnings increased 27% from the year-ago earnings of 94 Canadian cents. Higher-than-expected earnings were led by solid revenue growth, effective cost-control measures and improved productivity.
Total revenue climbed 15% year over year to C$2,122 million ($2,042 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Office Depot Beats Estimate

Posted: 27 Oct 2010 06:50 AM PDT

Office Depot Inc. (NYSE:ODP) recently posted better-than-expected third-quarter 2010 results. The quarterly earnings of 3 cents a share portrayed a substantial improvement from a loss of 8 cents in the prior-year quarter, and also fared better than the Zacks Consensus Estimate of a one-cent loss. The Zacks Consensus Estimate had been improving prior to the earnings announcement.
On a reported basis, including one-time items, earnings came in at 18 cents a share, as against a loss of $1.51 in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Boston Properties Beats Estimates

Posted: 27 Oct 2010 06:50 AM PDT

Boston Properties Inc. (NYSE:BXP), one of the leading real estate investment trusts (REITs), reported third quarter 2010 FFO (funds from operations) of $150.8 million or $1.07 per share, compared with $158.5 million or $1.13 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 third quarter earnings surpassed the Zacks Consensus Estimate by 5 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: American Electric Power Company, Exelon, General Dynamics, Goldman Sachs Group, International Paper Company, Office Depot, Procter & Gamble Company, Public Service Enterprise Group Incorporated, Sprint Nextel, Whirlpool, Wisconsin Energy, Comcast Corporation

Posted: 27 Oct 2010 06:50 AM PDT

 Procter & Gamble (NYSE:PG) reported fiscal first quarter earnings $0.02 better than expected at $1.02 on a 1.6% revenue gain to $20.1 billion, just below Zacks estimates of $20.2 billion. The company said it sees fiscal 2011 guidance earnings of $3.91 to $4.01

 Whirlpool (NYSE:WHR) reported third quarter earnings of $2.22, in-line with Zacks estimates, on inline revenues of $4.5 billion. The company said it sees full-year earnings of $9.56 to $10.06 a share

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


Canadian National Beats On Volumes

Posted: 27 Oct 2010 06:36 AM PDT

The largest rail network in Canada, Canadian National Railway Company (NYSE:CNI) reported adjusted earnings per share of C$1.19 ($1.14) in the third quarter of 2010, easily surpassing the Zacks Consensus Estimate of $1.12.
Adjusted earnings increased 27% from the year-ago earnings of 94 Canadian cents. Higher-than-expected earnings were led by solid revenue growth, effective cost-control measures and improved productivity.
Total revenue climbed 15% year over year to C$2,122 million ($2,042 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Sept. Durable Goods Orders Reach Two-Year High

Posted: 27 Oct 2010 06:36 AM PDT

New orders for durable manufactured goods in September reached the highest level ($199.1 billion) since September 2008, two years ago (see top chart above). The 12.2% increase in durable goods orders in September compared to the same month last year was the ninth consecutive double-digit increase starting in January of this year.  From the cyclical low of $160 billion in March 2009, new orders for manufactured goods have increased by about 25% to almost $200 billion last … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Western Union Delivers Ahead

Posted: 27 Oct 2010 06:35 AM PDT

Western Union Co.'s (NYSE:WU) third quarter earnings came in at 37 cents per share, 3 cents ahead of the Zacks Consensus Estimate, benefiting from a strong margin improvement led by its Consumer-to-Consumer (C2C) segment. Earnings also compared favorably with 35 cents in the prior-year quarter.
Western Union's revenues for the quarter were $1.3 billion, in line with the Zacks Consensus Estimate, up 1% year over year. On a constant currency basis, revenues were up 3%.  Operating margin was … [visit site to read more] or compare Best Credit Cards and Best CD Rates


NewAlliance Beats By A Penny

Posted: 27 Oct 2010 06:35 AM PDT

New Alliance Bancshares Inc.'s (NYSE:NAL) third quarter 2010 earnings came in at 17 cents per share, just a penny ahead of the Zacks Consensus Estimate. Results were up 13% from the prior quarter and 31% from the prior-year quarter.
Earnings for the reported quarter leave out $4.6 million of merger-related expenses (pre-tax). Taking this into consideration, New Alliance reported a net income of 14 cents per share compared with 13 cents in the year-ago quarter.
The results improved primarily … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Molex Beats, Guidance Disappoints

Posted: 27 Oct 2010 06:35 AM PDT

Molex Inc.'s (NASDAQ:MOLX) earnings for the first quarter of fiscal 2011 beat the Zacks Consensus by 2 cents, or 4.6%. Revenue for the quarter beat by 3.5%. Despite the positive surprise, investors were disappointed with the declining orders and backlog, which resulted in a weak guidance for the December quarter. As a result, Molex share prices dropped 4.04% in after-hours trading.
Revenue
Molex reported revenue of $897.7 million, which was up 5.9% sequentially and 33.2% year over year, exceeding … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Comcast Again Beats Zacks Estimate

Posted: 27 Oct 2010 06:35 AM PDT

Comcast Corp. (NASDAQ:CMCSA) reported third quarter 2010 financial results, which exceeded the Zacks Consensus Estimate. Adjusted EPS in the reported quarter was 32 cents compared with 28 cents in the prior-year quarter. Adjusted EPS includes $39 million, net of tax expense related to the NBC Universal Transaction.
Adjusted EPS exceeds the Zacks Consensus Estimate of 30 cents. Better-than-expected results were due to a solid customer growth, an improving advertising market and continued strength in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Wednesday 27 October

Posted: 27 Oct 2010 06:19 AM PDT

No quick picks.

Index opened flat but closed low. Index dropped 38.13 points to close 3124.38 with 2.112 billion traded. We expect strong resistance at 3200, so index will attempt to challenge that point again. However, bullish outlook remains intact since index is experiencing temporary pullback.

News update :

1) US home prices down 0.2% in August; Case-Shiller.
2) US consumer-confidence gauge rises to 50.2 in October from September’s 48.6.
3) IBM shares turn positive after board approves … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Swiss Franc: Under Pressure

Posted: 27 Oct 2010 06:18 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: 27 Oct 2010 06:18 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: 27 Oct 2010 06:18 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: 27 Oct 2010 06:18 AM PDT

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


Royal Caribbean Tops, Ups Outlook

Posted: 27 Oct 2010 06:06 AM PDT

Royal Caribbean Cruises Ltd. (NYSE:RCL) reported third-quarter 2010 non-recurring earnings of $1.64 per share, well ahead of Zacks Consensus Estimate of $1.56 and the year-earlier quarter's earnings of $1.07. The quarter's earnings also inched past management's guidance range of $1.52 and $1.57. Strong results came on the back of an improvement in close-in bookings and strict cost control.
Total revenue in the quarter increased 16.7% year over year to $2.1 billion, surpassing the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Royal Caribbean Tops, Ups Outlook

Posted: 27 Oct 2010 06:06 AM PDT

Royal Caribbean Cruises Ltd. (NYSE:RCL) reported third-quarter 2010 non-recurring earnings of $1.64 per share, well ahead of Zacks Consensus Estimate of $1.56 and the year-earlier quarter's earnings of $1.07. The quarter's earnings also inched past management's guidance range of $1.52 and $1.57. Strong results came on the back of an improvement in close-in bookings and strict cost control.
Total revenue in the quarter increased 16.7% year over year to $2.1 billion, surpassing the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian National Beats On Volumes

Posted: 27 Oct 2010 06:06 AM PDT

The largest rail network in Canada, Canadian National Railway Company (NYSE:CNI) reported adjusted earnings per share of C$1.19 ($1.14) in the third quarter of 2010, easily surpassing the Zacks Consensus Estimate of $1.12.
Adjusted earnings increased 27% from the year-ago earnings of 94 Canadian cents. Higher-than-expected earnings were led by solid revenue growth, effective cost-control measures and improved productivity.
Total revenue climbed 15% year over year to C$2,122 million ($2,042 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Capella Beats, Enrollment Slows

Posted: 27 Oct 2010 06:06 AM PDT

Capella Education Company (NASDAQ:CPLA), the provider of online education, recently delivered better-than-expected third-quarter 2010 results buoyed by a rise in enrollment. The quarterly earnings of 80 cents a share beat the Zacks Consensus Estimate of 78 cents, and grew 40.4% from 57 cents posted in the prior-year quarter. The Zacks Consensus Estimate was stable prior to the earnings announcement.
Behind the Headline
Total enrollment soared 25.7% year over year to 38,634. Graduate program … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Technology Sector To Lead Stock Market Higher As It Eclipses April High

Posted: 27 Oct 2010 06:01 AM PDT

Technology as a sector has been hot and cold during the move off the August lows. The primary reason is the lack of  unity in the sub-sectors leading the index higher. Each one has taken it's turn at being an anchor and/or leader for the broad sector overall. The initial leadership came from software starting the move higher two weeks prior to the others following along. The technology sector made a move past the April high this week and it warrants a look at what is … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Commodities Producers To Benefit From Soaring Corn Prices

Posted: 27 Oct 2010 05:45 AM PDT

Corn prices have surged more than 70% since May and could rise even higher in coming weeks. Prices will remain elevated for at least the next year, perhaps even testing their 2008 record high of $7.65 a bushel. That will likely mean higher food prices across the board for at least the next year.

Money Morning predicted in May that after falling below $3.50 per bushel in March, corn prices would surge higher than $6 by the end of the year. That forecast has proven prescient, as corn … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Virgin Media Posts Excellent 3Q

Posted: 27 Oct 2010 05:35 AM PDT

Virgin Media Inc. (NASDAQ:VMED) outperforms in the third quarter of 2010 supported by higher revenue, higher operating income, and customer's preference towards the company's bundled services. Contrary to the Zacks Consensus Estimate of a loss from continuing operations, Virgin Media achieved profitability.
Quarterly total revenue of approximately $1,517 million was up 6.4% year over year and far ahead of the Zacks Consensus Estimate of $1,461 million. This was primarily due to significant … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Height Of Hypocrisy Or Why America Should Be So Outraged

Posted: 27 Oct 2010 05:26 AM PDT

Not that we needed any more reason to castigate those who have driven our economy and our nation into a ditch but the story I bring you this morning provides us just that.
I am well past the point of surprise in finding shock value in stories exposing financial charades. That said, I hope I never lose the feeling of complete and total indignation in shedding light on those involved in the charades and others who would provide cover for it. To wit, count me as extremely pissed off this Wednesday … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Watch On Wednesday: Research In Motion, IBM, Broadcom, HSBC, AFLAC, CH Robinson, GlaxoSmithKline, Vodafone, AstraZeneca, Deutsche Bank, SAP

Posted: 27 Oct 2010 05:25 AM PDT

Despite opening lower following disappointing pre-market earnings, equities finished mixed following better than expected consumer confidence data, combined with bellwether IBM (NYSE:IBM) (+0.59%) approving an additional USD 10bln in share repurchases, which lifted sentiment. Stock oscillated between both territories throughout the entire session, with consumer services outperforming in the S&P 500, whilst healthcare weighed. The NASDAQ 100 finished higher led by Research in Motion … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Solid Quarter For Nabors

Posted: 27 Oct 2010 05:25 AM PDT

Nabors Industries Ltd (NBR) – North America's largest onshore oil and natural gas driller – reported better-than-expected third quarter results on the back of strength in its North American onshore activity levels.
Earnings per share (excluding special items) came in at 29 cents, 6 cents ahead of both the Zacks Consensus Estimate and the year-ago profit. Revenues of $1.1 billion surpassed the Zacks Consensus Estimate of $948 million and the third quarter 2009 sales of $804.5 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


DeVry Tops Consensus

Posted: 27 Oct 2010 05:25 AM PDT

DeVry Inc. (NYSE:DV) registered first-quarter 2011 earnings of $1.03 per share, exceeding the Zacks Consensus Estimate of 95 cents by 8.4% and the year-ago earnings of 76 cents by 35.5%.
The upbeat results came in the wake of successful implementations of growth and diversification strategies, improvement in academic quality and successful student enrollment. Further, graduates are also being able to find suitable placements despite a tough job market.
On a year-ago basis, total sales jumped 21% … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian National Beats On Volumes

Posted: 27 Oct 2010 05:07 AM PDT

This article has been unpublished. Walter, need new message.
 
CDN NATL RY CO (CNI): Free Stock Analysis … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Johnson Controls’ Profits Up 21%

Posted: 27 Oct 2010 05:07 AM PDT

Johnson Controls Inc. (NYSE:JCI) reported a 21% increase in profit to $409 million (excluding non-recurring items) in the fourth quarter of its fiscal year from $339 million (excluding non-recurring items) in the same quarter of previous year. On earnings per share, profits improved to 60 cents from 52 cents in the prior year and the Zacks Consensus Estimate of 57 cents.
Net sales in the quarter rose 15% to $9.04 billion, higher than the Zacks Consensus Estimate of $8.72 billion. For the full … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EURUSD Extends Decline Amid Softer Than Expected M3 Money Supply

Posted: 27 Oct 2010 04:45 AM PDT

        

Fundamental Headlines
• Federal Reserve Gears Up for Stimulus– Wall Street Journal
• EU Pushes China to Open Bidding – Wall Street Journal
• Firm Dollar Damps Demand for Stocks and Commodities – Financial Times
• Cameron's Budget Gamble Pays Off as U.K. Economy Holds Firm – Bloomberg
• Greek Bonds Tumble as Government Says Tax Revenue Falling Short – Bloomberg
EURUSD: The M3 money supply in the 16 member euro area rose an … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Mylan Falls Short On Revenue

Posted: 27 Oct 2010 04:36 AM PDT

Mylan, Inc. (MYL) reported third quarter 2010 adjusted earnings of 43 cents, beating the Zacks Consensus Estimate of 42 cents. The quarterly EPS was up 16.2% sequentially and 34.4% from the year-ago quarter.
On a GAAP basis, the company reported earnings of 33 cents compared to a loss of 13 cents in the comparable quarter of 2009.
Total revenues for the company increased 7.9% from the previous year quarter to $1.36 billion, but fell short of the Zacks Consensus Estimate of $1.41 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Active ETF Basics: Breaking Down Active ETFs

Posted: 27 Oct 2010 04:00 AM PDT

In an interview with Forbes, Jason Huntley – CIO of Mars Hill Global Relative Value Fund, spoke about the what Active ETFs are, how they compare with passive ETFs, what it'll take for them to take off and how ETFs are "bought" while mutual funds have always been "sold". Mars Hill is the sub-advisor to a recently launched actively-managed ETF from AdvisorShares, the Mars Hill Global Relative Value ETF (GRV: 24.58 0.00%) which was the first long-short equity ETF on the market. GRV has … [visit site to read more] or compare Best Credit Cards and Best CD Rates


How To Think About The Economy With Noted Economist Dr. Paul Summerville

Posted: 27 Oct 2010 03:37 AM PDT

Paul Summerville is a Senior Fellow at the Centre for Global Studies at the University of Victoria, British Columbia

Biography: Paul Summerville is a Senior Fellow at the Centre for Global Studies at the University of Victoria, British Columbia. Paul has held senior positions as an economist, equity research director, and Asian regional head at several prominent global investment banks in Tokyo, Toronto, and Boston. He completed a Ph.D. from the University of Tokyo (1988) with a thesis on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Tumbles To 1-week Low After Weak Domestic Data

Posted: 27 Oct 2010 03:29 AM PDT

Forex Pros – The Australian dollar tumbled to a 1-week low against its U.S. counterpart on Wednesday, following the release of weak domestic data on inflation and as the greenback staged a broad rally.

AUD/USD hit 0.9683 during European morning trade, the pair's lowest since October 20; the pair subsequently consolidated at 0.9723, plunging 1.34%.

The pair was likely to find short-term support at 0.9662, the low of October 20 and resistance at 0.9926, Tuesday's high.

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


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