Wednesday, November 3, 2010

DailyMarkets.com - $15 Million Susan Boyle Banned From Owning A Credit Card?

DailyMarkets.com - $15 Million Susan Boyle Banned From Owning A Credit Card?

$15 Million Susan Boyle Banned From Owning A Credit Card?

Posted: 03 Nov 2010 07:30 AM PDT

Singing sensation Susan Boyle, who first rose to international fame after appearing on Britain’s Got Talent, is thought to have amassed a fortune of $15 million in royalties after her debut album ‘I Dreamed A Dream’ sold 8.5 million copies worldwide.

But surprise, surprise. She lives on an allowance – of $450 a week, and that allowance is given by her professional management team (which is separate from SyCo, Simon Cowell’s music company).

The thing is, can she survive on such a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Key ST Resistance At 10725

Posted: 03 Nov 2010 07:23 AM PDT

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

Canadian Dollar: The Downside Prevails

Posted: 03 Nov 2010 07:23 AM PDT

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

Forex – EUR/USD In Tight Range After Upbeat U.S. Data, Pre-Fed

Posted: 03 Nov 2010 07:18 AM PDT

Forex Pros – The euro was lower against the U.S. dollar on Wednesday, with the pair trading in a tight range after a flurry of better-than-expected U.S. economic data and ahead of a critical announcement by the Federal Reserve.

EUR/USD hit 1.3992 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.4022, shedding 0.07%.

The pair was likely to find support at 1.3881, Tuesday's low and resistance at 1.4157, the high of October 15.

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

ISM Business Activity For Services Expands For The 11th Staight Month In October

Posted: 03 Nov 2010 07:15 AM PDT

“ISM’s Non-Manufacturing Business Activity Index in October registered 58.4 percent, an increase of 5.6 percentage points when compared to the 52.8 percent registered in September (see chart above). Ten industries reported increased business activity, and three industries reported decreased activity for the month of October. Five industries reported no change from September.”

Comments from respondents include: “Continued strength in core businesses and capital expenditures for balance of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Non-manufacturing PMI Rises More-than-expected

Posted: 03 Nov 2010 07:08 AM PDT

Forex Pros – The service sector in the U.S. grew more-than-expected in October, expanding for the 10th consecutive month, industry data showed on Wednesday.

In a report, the Institute of Supply Management said its non-manufacturing purchasing manager’s index rose to 54.3 in October, after rising to 53.2 in September.

Analysts had expected the index to rise to 53.6 in October.

A reading above 50.0 indicates the non-manufacturing sector economy is generally expanding; below 50.0 indicates … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Triumph Beats Zacks Estimate

Posted: 03 Nov 2010 07:05 AM PDT

Triumph Group Inc. (NYSE:TGI) reported encouraging results for the second quarter of fiscal 2011 with an EPS of $1.70 (excluding integration cost of the Vought acquisition), up from $1.25 in the year-ago quarter. Reported EPS surpassed the Zacks Consensus Estimate of $1.48. Net earnings were more than double the second quarter earnings in fiscal 2010. Net earnings reached $42.6 million from $20.7 million in the year-ago quarter.
Total sales grew to $769.1 million from $313.1 million in the same … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Magellan Just Misses, Sales Surge

Posted: 03 Nov 2010 07:05 AM PDT

Magellan Midstream Partners L.P. (NYSE:MMP), a master limited partnership ("MLP"), announced marginally weaker-than-expected third quarter 2010 results, pulled down by increase in costs.
The partnership reported earnings per unit (EPU) of 54 cents (excluding mark-to-market commodity-related pricing adjustments), a penny below the Zacks Consensus Estimate. However, compared to the third quarter of 2009, Magellan's earnings per unit posted a 25.6% improvement (from 43 cents to 54 cents), … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Rise As Fed FOMC Looms; Dow Jones Gains 0.13%

Posted: 03 Nov 2010 07:02 AM PDT

Forex Pros – U.S. stocks posted modest gains after the open on Wednesday, as investors awaited a critical Federal Reserve decision and following significantly better-than-expected ADP non-farm payrolls data..
 
During early U.S. trade, the Dow Jones Industrial Average eased up 0.13%; the S&P 500 index added 0.12%, while the Nasdaq Composite index gained 0.02%.

Earlier in the day, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMS Beats On Revenues, Cuts Outlook

Posted: 03 Nov 2010 06:35 AM PDT

Emergency Medical Services Corp. (NYSE:EMS) reported an EPS of 82 cents in the third quarter of fiscal 2010, up 24.7% from 66 cents in the year-ago period. However, the EPS missed the Zacks Consensus Estimate of 85 cents.
During the quarter, Emergency Medical had to incur $3 million (4 cents impact on EPS) of increased employee medical claim charges related to four large claims under its self-insured health plans. Revenues increased 10.8% annually to reach $737.2 million, which surpassed the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wynn Misses EPS, Beats Revenue

Posted: 03 Nov 2010 06:35 AM PDT

Wynn Resorts Limited (NASDAQ:WYNN) reported third quarter 2010 adjusted earnings of 39 cents per share, below the Zacks Consensus Estimate of 41 cents, but above the year-ago quarter earnings of 33 cents. On a GAAP basis, net loss was $33.5 million or 27 cents per share versus a net income of $34.2 million or 28 cents recorded in the comparable quarter last year.
Results were boosted by higher-than-expected revenues. Net revenues surged 30.1% year over year to $1005.9 million, outpacing the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Aetna, Agrium, Bank Of America, BlackRock, BP P.l.c., CVS, Goldman Sachs Group, PNC Bank Corp., Qwest Communications International, R.R. Donnelley & Sons Company, Time Warner, WellPoint Health Networks, Wynn Resorts, Limited

Posted: 03 Nov 2010 06:35 AM PDT

 WellPoint (NYSE:WLP) reported estimate-topping third quarter earnings of $1.74 a share, up from Zacks estimates of $1.58, on revenues of $14.33 billion, above Zacks estimates of $14.22 billion 

 Aetna (NYSE:AET) topped projections with third quarter results of $0.84 a share, up from Zacks estimates of $0.67, on better-than-expected revenues of $8.54 billion, up from Zacks estimates of $8.33 billion

 Time Warner (NYSE:TWX) posted better-than-estimated third-quarter earnings of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Surges To 9-day High After Strong ADP Data

Posted: 03 Nov 2010 06:31 AM PDT

Forex Pros – The euro was up against the yen on Wednesday, surging to a 9-day high after the release of significantly better-than-expected U.S. data on ADP non-farm payrolls.

EUR/JPY hit 113.89 during European afternoon trade, the pair's highest since October 21; the pair subsequently consolidated at 113.85, gaining 0.64%.

The pair was likely to find support at 111.86, Tuesday's low and resistance at 114.75, the high of October 15.

Earlier in the day, U.S. payroll processing firm ADP … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Markets Waiting On The FOMC

Posted: 03 Nov 2010 06:29 AM PDT

FX Trading throughout the Asian session was choppy and basically directionless – which is to be expected ahead of such a critical event. We suspect that major levels will remain untested as traders will decide to err on the side of caution and stay sidelined until the final news comes out. The general consensus spreading across the market today is that the FOMC will announce around $500-600 bn of treasury purchases spread out over a period of 6 months. The purchases will occur at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Under Pressure

Posted: 03 Nov 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: 03 Nov 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: 03 Nov 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: 03 Nov 2010 06:18 AM PDT

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

Forex – AUD/USD Turns Lower After Weak Australian Data

Posted: 03 Nov 2010 06:10 AM PDT

Forex Pros – The Australian dollar was down against its U.S. counterpart on Wednesday, falling to a daily low as significantly worse-than-expected Australian construction sector data dampened demand for the currency.

AUD/USD hit 0.9960 during European afternoon trade, a daily low; the pair subsequently consolidated at 0.9976, shedding 0.18%.

The pair was likely to find support at 0.9865, Tuesday's low and short-term resistance at 1.0023, Tuesday's high.

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

Two More States (AR And OK) Are Reporting Double-Digit Tax Revenue Gains For October

Posted: 03 Nov 2010 06:06 AM PDT

1. “October’s sales tax report for Oklahoma continued an encouraging trend, prompting some cautious optimism Tuesday from Oklahoma City officials. Sales tax revenue was up 16.7 percent over expectations and 19.2 percent over last year’s collections for the same period. It is the sixth straight month of sales tax growth over the previous year.”

2.  “Arkansas tax collections for October were above the monthly forecast and above collections from a year ago, the state's top fiscal officer … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fujifilm Improves On Market Demand

Posted: 03 Nov 2010 06:05 AM PDT

Fujifilm Holdings Corporation (FUJIY) announced improved financial results for the second quarter of fiscal 2011. During the quarter, the company reported an income of ¥22.5 billion (US$261.9 million) compared with a loss of ¥4.7 billion (US$50.2 million) during the same period of fiscal 2010. On a per ADR basis, Fujifilm reported a net income of ¥46.14 (57 US cents) compared with a net loss of ¥9.65 (10 US cents) in the prior-year period.
Revenue topped 3.1% year over year to reach … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BIOS Disappoints, Withdraws Outlook

Posted: 03 Nov 2010 06:05 AM PDT

BioScrip Inc. (NASDAQ:BIOS) reported an EPS of 4 cents in the third quarter of 2010, falling below both the Zacks Consensus Estimate of 9 cents and the year-ago quarter's 14 cents. However, revenues were $441.2 million, higher than the Zacks Consensus Estimate of $433 million and 32.3% above the year-ago quarter.
BioScrip reports under two segments – Pharmacy Services and Infusion/Home Health Services with revenues of $329.3 million (up 11% year over year) and $111.8 million (up 203.8%), … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Interview With David Martin, Author Of Risk And The Smart Investor

Posted: 03 Nov 2010 06:05 AM PDT

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


Forex – Dollar Mixed After Strong ADP Data, Pre-Fed

Posted: 03 Nov 2010 05:58 AM PDT

Forex Pros – The U.S. dollar was mixed against the other major currencies on Wednesday, after the release of significantly better-than-expected data on ADP non-farm payrolls and ahead of a critical announcement by the Federal Reserve.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.02% to hit 1.4032.

Earlier in the day, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in October, after falling by a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Tumbles To 13-day Low As Crude Oil Rallies

Posted: 03 Nov 2010 05:38 AM PDT

Forex Pros – The U.S. dollar was down against its Canadian counterpart on Wednesday, falling to a 13-day low as crude oil prices rallied on the back of a stronger U.S. dollar.

USD/CAD hit 1.0064 during European afternoon trade, the pair's lowest since October 15; the pair subsequently consolidated at 1.0078, shedding 0.10%.

The pair was likely to find support at 1.0011, the low of October 15 and resistance at 1.0156, Tuesday's high.

Earlier in the day, crude oil prices soared 1.17% to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Statoil Doubles Net, Cuts Guidance

Posted: 03 Nov 2010 05:36 AM PDT

Statoil ASA (NYSE:STO) reported significantly better-than-expected third-quarter earnings of 70 cents per ADR, compared with a Zacks Consensus Estimate of 50 cents and year-earlier earnings of 38 cents. Total revenue in the quarter was NOK 127.4 billion ($20.6 billion).
Net income in the quarter more than doubled to NOK 13.8 billion ($2.24 billion). Adjusted earnings after tax were NOK 8.5 billion ($1.38 billion), down 8% from the year-earlier quarter due to lower volumes of gas sold, partly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Leap Wireless Disappoints In 3Q

Posted: 03 Nov 2010 05:36 AM PDT

Yesterday, after market close, Leap Wireless International Inc. (NASDAQ:LEAP) declared third quarter of 2010 financial results that fell below our expectations. The company suffered a net subscriber loss in the reported quarter as customer churn rate increased. In synergy with this poor performance, share price of Leap Wireless plunged 52 cents (4.51%) to $11 in the after-market trade on NASDAQ.
Quarterly total revenue was $602.7 million, up 0.5% year over year but well below the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Talisman Trails Zacks Estimate

Posted: 03 Nov 2010 05:36 AM PDT

Canadian energy explorer Talisman Energy Inc. (NYSE:TLM) reported weaker-than-expected third quarter 2010 results, hampered by unfavorable foreign currency variations. Earnings per share from continuing operations, excluding non-operating items, came in at 2 Canadian cents (1 U.S. cent), significantly below the Zacks Consensus Estimate of 12 cents. In the year-ago period, the company earned 9 Canadian cents a share.
However, Alberta-based Talisman's reported net income of 12 Canadian cents per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. ADP Non-farm Payrolls Rise More-than-expected

Posted: 03 Nov 2010 05:24 AM PDT

Forex Pros – U.S. non-farm private employment rose more-than-expected in October, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in October, after falling by 2K in September, whose figure was revised from a decrease of 39K.

Analysts had expected non-farm private sector employment to increase by 25K in October.

The report said employment in the service-providing sector rose by 77K in October, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Now What?

Posted: 03 Nov 2010 05:18 AM PDT

With the 2010 election results now in the books, what is next for the 'wizards in Washington?'

Gearing Up For 2012

The country has spoken. Did those on Capitol Hill and at 1600 Pennsylvania Avenue listen?
The pursuit of truth, transparency, and integrity NEVER ends.
Larry Doyle
I have no affiliation or business interest with any entity referenced in this commentary. As President of Greenwich Investment Management, an SEC regulated privately held registered investment adviser, I am … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EOG Slips, Oil Growth At A New High

Posted: 03 Nov 2010 05:08 AM PDT

EOG Resources Inc. (NYSE:EOG), a major independent oil and gas exploration and production company, reported weaker-than-expected third-quarter results. Quarterly earnings were 18 cents per share, below both the Zacks Consensus Estimate of 20 cents and the year-ago profit of 81 cents.
Despite an increase in production volumes and higher commodity prices, earnings missed mainly due to higher operating expenses. While EOG's results came in below our expectations, the company maintained its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Hits Daily Low After Upbeat U.K. Service PMI Data

Posted: 03 Nov 2010 04:51 AM PDT

Forex Pros – The euro was down against the pound on Wednesday, falling to hit a fresh daily low, following the release of better-than-expected U.K. service PMI data.

EUR/GBP hit 0.8704 during European morning trade, a daily low; the pair subsequently consolidated at 0.8707, shedding 0.46%.

The pair was likely to find support at 0.8652, Tuesday's low and resistance at 0.8767, Tuesday's high.

Earlier in the day, data showed that the CIPS/Markit U.K. services purchasing manager's index … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.K. PMI Services Tops Expectations In October, GBPUSD Extends Overnight Advance

Posted: 03 Nov 2010 04:45 AM PDT

    

Fundamental Headlines
• GOP Claims House in Huge Swing – Wall Street Journal
• Market Focus Shifts From Midterm to Fed – Wall Street Journal
• Markets Brace as Fed Decision Looms – Financial Times
• Bernanke Faces Greater Scrutiny After Republican Election Gains – Bloomberg
•U.K.'s October Services Growth Unexpectedly Accelerates – Bloomberg
GBPUSD: PMI services in the U.K. rose to its highest level since June of this year as figures climbed to 53.2 In … [visit site to read more] or compare Best Credit Cards and Best CD Rates

In The Spotlight: One Fund (ONEF)

Posted: 03 Nov 2010 04:00 AM PDT

One Fund (ONEF: 26.6499 0.00%) is an actively-managed ETF that has been around for nearly 6 months now. It was launched in May 2010 by U.S. One, Inc. as a one-stop solution for investors looking for a globally diversified stock portfolio in a single fund. The fund is managed by portfolio manager, Paul Hrabal, who is the President and Chief Investment Officer of U.S. One.
The fund has slowly been able to increase its asset base from about $2 million upon launch to close to $7 million, where it … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Stocks Advance Ahead Of Fed FOMC; DAX Up 0.28%

Posted: 03 Nov 2010 03:40 AM PDT

Forex Pros – European stocks advanced on Wednesday, as shares in the financial sector led markets higher, while U.S. futures indexes pointed to a higher open on Wall Street.

During European morning trade, the EURO STOXX 50 was up 0.23%; France's CAC 40 rose 0.44%; while Germany’s DAX gained 0.28%.

Shares in France's second-largest lender Societe Generale soared 3.52% after it said third-quarter net profit more than doubled to EUR 896 million, up from EUR 426 million a year earlier. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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