Wednesday, November 17, 2010

DailyMarkets.com - Get $100 Statement Credit When You Apply For A Citi Forward Credit Card This Month

DailyMarkets.com - Get $100 Statement Credit When You Apply For A Citi Forward Credit Card This Month


Get $100 Statement Credit When You Apply For A Citi Forward Credit Card This Month

Posted: 17 Nov 2010 07:35 AM PST

Citi (NYSE:C) just launched the Citi Forward Card – $100 Statement Credit, which is a time-limited promotional card which is an even better card offer compared to the original Citi Forward Card, one of the top-rated rewards credit cards at DailyMarkets.com.

With the Citi Forward Card – $100 Statement Credit, you get a $100 statement credit after making at least $500 in purchases that are not returned within the first 3 months of account opening. This is an amazing bonus incentive you won’t get … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Weak US Inflation Data Re-affirms Need For QE2, & That Works Against The US Dollar

Posted: 17 Nov 2010 07:17 AM PST

The US Dollar is likely to come under pressure in the US session as we had two weak reports come out, reinforcing the case for the Fed to go through with the full amount of QE 2. While there is a chance the Fed scales back the size of their bond-buying program, the recent run of better than expected data is not enough to sway a majority of the FOMC members.

The main concern on the minds of Fed policy makers is the inflation rate, which has been very weak as of late, and continued to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stocks Advance After The Open; Dow Jones Adds 0.07%

Posted: 17 Nov 2010 07:11 AM PST

Forex Pros – U.S. stocks were higher after the open on Wednesday, as strong corporate earnings reports overshadowed worse-than-expected U.S. data on consumer prices, building permits and housing starts.

During early U.S. trade, the Dow Jones Industrial Average gained 0.07%; the S&P 500 index added 0.32%, while the Nasdaq Composite index climbed 0.46%.

In earnings news, shares in the second-largest U.S. discount retailer Target soared 3.62% after it said third quarter profit jumped by … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Used Car Prices Reach Record High In October

Posted: 17 Nov 2010 07:08 AM PST

Used car prices reached a record high in October according to Manheim Consulting’s Used Vehicle Index (see chart above) and also Edmunds.com, which reported the average used car price reached a record high of $18,570 last month.  From a CNN article:

“According to Karl Brauer, an analyst for automotive website Edmunds.com, those preferring used cars over new fall into two categories: buyers who are forced to economize and others who can afford new but decide to hold off because “there’s a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


State Street Latest To Eliminate Derivatives From Active ETFs

Posted: 17 Nov 2010 07:07 AM PST

State Street Global Advisors (SSgA) is the latest to amend its application for actively-managed ETFs with the SEC to remove the usage of derivatives from the portfolio management process. SSgA first made the original filing with the SEC to launch actively-managed ETFs in Sep 2009, more than a year ago. That application would have allowed the planned funds to invest without limitation in derivative instruments including futures, options and swaps.
SSgA is just one of the many issuers that has … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Earnings Scorecard: Marathon Oil

Posted: 17 Nov 2010 07:05 AM PST

Earlier this month, Marathon Oil Corporation (NYSE:MRO) – the fifth largest refiner and marketer of petroleum products in the U.S. – reported its financial results for the third quarter ended September 30, 2010.
Now that the analysts have had some time to ponder over the quarterly performance of Marathon, they are weighing in their estimate revisions. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


WCRX Beats On Earnings, Ups Outlook

Posted: 17 Nov 2010 07:05 AM PST

Warner Chilcott plc (NASDAQ:WCRX) posted third-quarter earnings of 86 cents per share, beating the Zacks Consensus Estimate of 82 cents and the prior-year earnings of 41 cents per share. Higher revenues accounted for increased earnings.
Revenues
Quarterly revenues, at $703.2 million, increased substantially from the yaer-ago revenues of $252.8 million, but came in way below the Zacks Consensus Estimate of $745 million. The astronomical year-over-year increase resulted primarily from contributions of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Hits Daily High After U.S. Economic Data Disappoints

Posted: 17 Nov 2010 07:04 AM PST

Forex Pros – The euro was up against the yen on Wednesday, rising to hit a fresh daily high after the release of worse-than-expected U.S. data on consumer prices and building permits.

EUR/JPY hit 112.79 during European afternoon trade, the daily high; the pair subsequently consolidated at 112.59, gaining 0.19%.

The pair was likely to find support at 112.25, Tuesday's low and resistance at 113.42, Tuesday's high.

Earlier in the day, official U.S. data showed that core consumer price … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Extends The Range. Trendline Resistance Next Target

Posted: 17 Nov 2010 07:02 AM PST

Forex – USD/CAD Trims Losses Despite Weak U.S. Economic Data

Posted: 17 Nov 2010 06:51 AM PST

Forex Pros – The U.S. dollar trimmed losses against its Canadian counterpart on Wednesday, pulling back from the daily low despite the release of worse-than-expected U.S. data on inflation and building permits.

USD/CAD hit 1.0194 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.0208, shedding 0.14%.

The pair was likely to find support at 1.0069, Tuesday's low and resistance at 1.0285, the high of October 28.

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


Forex Trading: USDJPY Needs To Breach Trendline Support At 83.25

Posted: 17 Nov 2010 06:39 AM PST

Earnings Scorecard: Scripps Networks

Posted: 17 Nov 2010 06:35 AM PST

The lifestyle content and interactive services provider Scripps Networks Interactive Inc. (NYSE:SNI) posted excellent third quarter 2010 financial results, which outpaced the Zacks Consensus Estimate. The strong result was mainly driven by a double-digit growth in advertising and affiliate-fee revenues at the company's flagship Lifestyle Media business together with a surprising top-line increase at Interactive Services.
Overall, the analysts' opinion was positive on the stock. The recent … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Dick’s Comfortably Beats

Posted: 17 Nov 2010 06:35 AM PST

Dick’s Sporting Goods Inc. (NYSE:DKS), an authentic full-line sporting goods retailer, posted strong third quarter 2010 results, ended October 30, 2010, on the heels of higher sales and improved margins. Quarterly earnings climbed to 22 cents a share from the year-ago level of 16 cents and comfortably outpaced its earnings guidance in the range of 15 to 16 cents. Dick's also surpassed the Zacks Consensus Estimate of 17 cents.

A 5.1% increase in consolidated comparable-store sales (comps) and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: BHP Billiton Limited, BJ’s Wholesale Club, CSX, GlaxoSmithKline PLC, Goldman Sachs Group, Home Depot, Jefferies Group, Norfolk Souther, Potash Corporation Of Saskatchewan, Target, Human Genome Sciences, Marvell Technology Group, Ltd.

Posted: 17 Nov 2010 06:35 AM PST

 Target’s (NYSE:TGT) third quarter matched sales and earnings estimates, with earnings of $0.68 and revenues $15.61 billion

 BJ’s Wholesale Club (NYSE:BJ) posed third quarter results beating estimates by $0.07 at $0.43, on revenues up 4.9% YoY to $2.6 billion, in-line with expectations

 Human Genome Sciences (NASDAQ:HGSI) resumed trading this morning after news that its lupus-fighting drug, Benlysta, developed with GlaxoSmithKline (NYSE:GSK), was recommended for FDA approval by an FDA … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Swiss Franc: Under Pressure

Posted: 17 Nov 2010 06:19 AM PST

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


Japanese Yen: Under Pressure

Posted: 17 Nov 2010 06:19 AM PST

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


British Pound: Capped By A Negative Trend Line

Posted: 17 Nov 2010 06:19 AM PST

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


Euro: Caution

Posted: 17 Nov 2010 06:18 AM PST

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


Wider Loss At Cypress Bio

Posted: 17 Nov 2010 06:06 AM PST

Cypress Bioscience, Inc. (NASDAQ:CYPB) reported a net loss of 94 cents per share in the third quarter, significantly higher than the Zacks Consensus Estimate of a loss of 33 cents and the year ago loss of 12 cents. Despite an increase in revenues, higher operating expenses led to the wider loss in the reported quarter.
Quarter in Detail
Third-quarter revenues came in at $8 million, well above the Zacks Consensus Estimate of $5 million and 45.3% above the year-ago revenues of $5.5 million. Third … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Dynegy Just Got Pricier

Posted: 17 Nov 2010 06:06 AM PST

Houston-based merchant generator, Dynegy Inc. (NYSE:DYN) just got dearer for Private Equity firm The Blackstone Group (NYSE:BX), its suitor. Faced with a lukewarm response from shareholders for the deal, Blackstone on Tuesday raised its bid for Dynegy by 11% to $5 per share from the earlier bid of $4.50.
Blackstone was forced to raise the bar after two major holders of Dynegy, billionaire investor Carl Icahn and Seneca Capital went public with their sentiments about the deal being undervalued. With … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bruce Greenwald On Emerging Markets

Posted: 17 Nov 2010 05:57 AM PST

Bruce Greenwald

I just found this great hour plus long video by a guest lecturer teaching Bruce Greenwald's class. The person speaking is Bill Browder (more info about the video below) he discusses emerging market investing.
For anyone unfamiliar with Greenwald here is a brief bio:
Bruce Greenwald is director of research at First Eagle Funds (a top value mutual fund family). He is also the Robert Heilbrunn Professor of Finance and Asset Management at the Columbia Business School. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Broadly Lower Vs. Rivals After Disappointing U.S. Data

Posted: 17 Nov 2010 05:48 AM PST

Forex Pros – The U.S. dollar was broadly lower against its major rivals on Wednesday, following the release of worse than-expected U.S. data on consumer price inflation and building permits.

During European afternoon trade, the greenback was down against the euro, with EUR/USD edging up 0.08% to hit 1.3502.

Late Tuesday, euro zone finance ministers agreed that a team from the European Commission, the International Monetary Fund and the European Central Bank  could begin to examine what … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Building Permits Rise Less-than-expected

Posted: 17 Nov 2010 05:46 AM PST

Forex Pros – The number of building permits issued in the U.S. rose less-than-expected in October, official data showed on Wednesday.

In a report, the U.S. Census Bureau said the number of building permits issued in October was a seasonally adjusted 0.55 million, unchanged from 0.55 million in September, whose figure was revised up from 0.54 million.

Analysts had expected building permits to rise to 0.57 million in October.

The report also said that U.S. housing starts fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates


“Governments Don’t Creat Jobs; Only The Private Sector Creates Jobs”

Posted: 17 Nov 2010 05:38 AM PST

I hear variations of the quote above almost every day, which usually go unchallenged. How can that be since it is so obviously wrong? It reminds me of the old Richard Pryor line: "Who are you going to believe: me or your own lying eyes?
Local governments hire policemen, fire fighters, and school teachers. State governments hire the employees that drive us crazy down at the Division of Motor Vehicles. The Federal government hires employees to work for the Social Security Administration and TSA … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Core CPI Unexpectedly Flat In October

Posted: 17 Nov 2010 05:37 AM PST

Forex Pros – Core consumer price inflation in the U.S. was unexpectedly flat in October, official data showed on Wednesday.

In a report, the Bureau of Labor Statistics said that consumer prices, less food and energy was flat in October, unchanged from a flat reading in September.

Analysts had expected core consumer prices to rise by 0.1% in October.

The report said that consumer prices including food and energy costs rose less-than-expected in October, increasing by a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hot Topic In Line

Posted: 17 Nov 2010 05:35 AM PST

Hot Topic Inc. (NASDAQ:HOTT) reported third quarter fiscal 2010 earnings of 5 cents a share, in line with the Zacks Consensus Estimate. However, it dropped substantially from the prior-year earnings of 13 cents a share. Earnings per share in the reported quarter exclude approximately 4 cents related to the impairment of ShockHound assets. Including impairment charges, earnings per share came in at 1 cent.
Total revenue declined 3.4% year over year to $183.2 million, meeting the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bob Evans Misses On Higher Charges

Posted: 17 Nov 2010 05:35 AM PST

Bob Evans Farms Inc. (NASDAQ:BOBE) announced second quarter 2011 earnings of 26 cents per share, which missed the Zacks Consensus Estimate of 41 cents and were also 48% below year-ago quarter's 50 cents.
Earnings reduced in the second quarter of 2011 on the back of a fixed asset impairment charge of $10.3 million associated with five underperforming Mimi's cafes and approximately $3.6 million of charges, given that the company closed down its sausage-production lines and paid out retirement and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EOG Inks Deal With Newfield

Posted: 17 Nov 2010 05:35 AM PST

A major independent oil and gas exploration and production company, EOG Resources Inc. (NYSE:NFX). The transaction is valued at $405 million  and constitutes a part of EOG’s divestiture program, which is expected to bring in about $1 billion for the company by the end of 2010.
The acreage represents less than 0.5% of EOG’s North American production and includes five producing natural gas wells with 7 million cubic feet per day of gross output.  The companies expect the deal to close by … [visit site to read more] or compare Best Credit Cards and Best CD Rates


TAM Posts Decent Results

Posted: 17 Nov 2010 05:05 AM PST

Brazilian airport operator TAM S.A. (NYSE:TAM) reported decent results for the third quarter of fiscal 2010 with a 31.6% increase in adjusted net income and a 23.4% rise in adjusted revenue.
Adjusted net income excludes the reversal of tariff for TAM. In September 2010, the Superior Court of Justice confirmed the decision that releases TAM from paying the additional tariff, calculated at 1% of the fare for all regular domestic tickets sold. In light of the decision, TAM reverted the accounting … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – NZD/USD Trims Losses As Key U.S. Economic Data Eyed

Posted: 17 Nov 2010 05:00 AM PST

Forex Pros – New Zealand's dollar trimmed losses against its U.S. counterpart on Wednesday, retreating from a 13-day low ahead of the release of key U.S. economic data.

NZD/USD clawed up from 0.7630, the pair's lowest since October 29, to hit 0.7670 during European afternoon trade, slipping 0.08%.

The pair was likely to find support at 0.7510, the low of October 29 and resistance at 0.7754, Tuesday's high.

Market sentiment was dampened by fears over sovereign debt contagion among … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Hits Daily Low As Spotlight Stays On Ireland

Posted: 17 Nov 2010 04:33 AM PST

Forex Pros – The Australian dollar was down against its U.S. counterpart on Wednesday, falling to a daily low as markets waited to see if Ireland will seek a bailout from the European Union and the International Monetary Fund.

AUD/USD hit 0.9727 during European afternoon trade, the daily low; the pair subsequently consolidated at 0.9753, sliding 0.13%.

The pair was likely to find support at 0.9677, the low of October 29 and resistance at 0.9892, Tuesday's high.

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


“Executives Typically Refrain From Criticizing Finra Or Its Policies Publicly”

Posted: 17 Nov 2010 04:25 AM PST

When I worked at JP Morgan (NYSE:JPM) we had a year end peer review process that I believe was largely a joke. Why? It lacked integrity and honesty. How so? Individuals largely gamed the system by not being honest with each other. As a result, the overall assessment of individuals, departments, divisions, and the firm itself were skewed. I recall looking at the composite and average scores and remarking to my boss, "This firm is NOT this good."
Mind you, JP Morgan (NYSE:JPM) had and still has … [visit site to read more] or compare Best Credit Cards and Best CD Rates


IN FOCUS: PIMCO Build America Bond Strategy Fund (BABZ)

Posted: 17 Nov 2010 04:00 AM PST

Date Launched: Sep 20, 2010
Links: Factsheet, Website, Prospectus
Investment Strategy:
BABZ is an actively-managed ETF that provides investors with exposure to taxable municipal debt securities issued under the Build America Bond program. The fund invests in investment-grade debt and provides daily transparency of holdings. PIMCO conducts issuer-specific credit analysis to analyze each issuer in order to avoid municipalities with deteriorating credit quality. The active management pursued by … [visit site to read more] or compare Best Credit Cards and Best CD Rates


BOE Minutes Show Three Way Split For The Second Straight Month, U.K. Jobless Claims Unexpectedly Falls

Posted: 17 Nov 2010 03:45 AM PST

Fundamental Headlines
• Irish Aid Package in Works – Wall Street Journal
• Another Deficit Plan Targets Taxes – Wall Street Journal
• Debt Crisis Team Heads for Dublin – Financial Times
•Fed May Hesitate On More Easing After Critics Question Mandate – Bloomberg
•Bernanke's "Cheap Money" Spurs Corporate Investment Outside U.S. – Bloomberg
GBPUSD: Jobless claims in the U.K. fell 3.7K in October after rising a revised 1.3K the month prior amid expectations of 6.0K. At the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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