Monday, November 22, 2010

DailyMarkets.com - Gold, Weaker Dollar And US Exports

DailyMarkets.com - Gold, Weaker Dollar And US Exports

Gold, Weaker Dollar And US Exports

Posted: 22 Nov 2010 05:44 PM PST

With the Chinese yuan and Brazilian reals off-limits to most retail investors, turning to gold may be the best bet. Even with the gold hitting the $1,400 an ounce mark, it's still a good idea to allocate around 20% of your portfolio to this precious metal. Consider that over the last decade, gold is up by 17%. Compare this to stocks over the same period and you'll see the difference. Stocks were up by only 1%.

In today's economic climate, gold can serve as a hedge against a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Tuesday: Eastman Kodak, A123 Systems, Crocs

Posted: 22 Nov 2010 05:05 PM PST

( click to enlarge )
Eastman Kodak Company (NYSE:EK) should be on your watch screen for the rest of the week. The stock broke out of a base in October and has been consolidating above the base since then. EK has been trading in a very tight channel as volatility dies down. The stock was indecisive today, closing the day at $4.77 with the overall trading volume of 2.78M shares for the day. The bias remains neutral in nearest term as price still trapped in range area of $4.66-$4.96 as you … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Down During The Asian Session

Posted: 22 Nov 2010 04:45 PM PST

Forex Pros – The British Pound was lower against the Japanese Yen on Tuesday.

GBP/JPY was trading at 132.88, down 0.06% at time of writing.

The pair was likely to find support at 132.24, Thursday's low, and resistance at 134.22, Thursday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.07% to hit 1.5949 and EUR/GBP falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Toyota Plans To Sell A Plug-in Hybrid In 2012, Announces 11 New Models

Posted: 22 Nov 2010 04:00 PM PST

11/22/10 The Toyota Motor Co. announced plans to not only sell a plug-in hybrid in the US, Europe, and Japan in 2012, but it also confirmed that it will introduce 11 new hybrid models by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The Asian Session

Posted: 22 Nov 2010 03:50 PM PST

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Monday.

NZD/USD was trading at 0.7715, down 0.06% at time of writing.

The pair was likely to find support at 0.7632, Wednesday's low, and resistance at 0.7836, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.09% to hit 1.2794 and EUR/NZD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Case Study In Rent-Seeking And Capture Theory

Posted: 22 Nov 2010 03:44 PM PST

WASHINGTON — “The companies with multimillion-dollar contracts to supply American airports with body-scanning machines more than doubled their spending on lobbying in the last five years and hired several high-profile former government officials to advance their causes in Washington, records show.
 

L-3 Communications, which has sold $39.7 million worth of the machines to the federal government, spent $4.3 million to influence Congress and federal agencies during the first nine months … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TOTAL Expands In Malaysia

Posted: 22 Nov 2010 03:35 PM PST

Integrated oil and gas company TOTAL S.A. (NYSE:TOT) has agreed to acquire an 85% interest in Block SK317B, offshore Malaysia. The company has entered into a pact with the national oil company Petronas for interest in the Malaysian assets encompassing an area of 700 square kilometers.
Under the terms of the agreement, TOTAL will operate the Block alongside its partner Petronas Carigali holding the remaining 15% interest. 
The Block SK317B is located near Sarawak in the water depths of 200 to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: US, German GDP, FOMC Minutes

Posted: 22 Nov 2010 10:30 AM PST

11/23/10 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RenaissanceRe Sells Unit To QBE

Posted: 22 Nov 2010 03:05 PM PST

RenaissanceRe Holdings Ltd. (NYSE:RNR) has agreed to sell its U.S. property and casualty business to an Australian insurer QBE Holdings, Inc. for about $275 million to get rid of its relatively small operation.
RenaissanceRe's U.S. property and casualty business was underwritten through managing general agents, and its crop insurance business through Agro National Inc. and its commercial property insurance operation.
RenaissanceRe stated that all of its insurance businesses will be sold off, and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goodrich To Supply DB-110 To Egypt

Posted: 22 Nov 2010 03:05 PM PST

Goodrich Corporation (NYSE:GR) was awarded a contract under the U.S. Air Force's Foreign Military Sale (FMS) contract to provide its advanced DB-110 airborne reconnaissance system for the Egyptian Air Force’s new Block 52 F-16 fighter aircraft. Egypt is the eighth country to select Goodrich’s DB-110 system.
Egypt is also acquiring 20 new Lockheed Martin Corporation's (NYSE:LMT) Advanced Block 52 F-16 multi-role fighters under the Peace Vector Foreign Military Sale program.
Work for Goodrich's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMC To Acquire Isilon Systems

Posted: 22 Nov 2010 02:35 PM PST

A leading provider of data storage systems, EMC Corp. (NYSE:EMC) announced the commencement of a cash tender offer to acquire storage systems vendor Isilon Systems Inc. (NASDAQ:ISLN). The acquisition will facilitate EMC Corp. to tap the surging demand for data storage technology.
The purchase price is approximately $2.25 billion or $33.85 per share in cash without interest and withholding taxes. The deal represents a 29% premium for Isilon shareholders. It is the largest deal in the storage space after … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ACE Limited Offers Notes

Posted: 22 Nov 2010 02:05 PM PST

ACE INA Holdings Inc., a subsidiary of ACE Limited (NYSE:ACE), will sell senior notes worth $700 million, bearing a coupon of 2.60%, which mature in November 2012. The company increased the offer size from $500 million planned earlier.
Rating agency A.M. Best Co. has assigned a debt rating of "a-" to these senior unsecured notes. The rating outlook is positive.
The company intends to deploy the net proceeds to refinance existing and maturing debt.
ACE Limited ended the third quarter of 2010 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EPD Acquires Houston Ship Channel

Posted: 22 Nov 2010 02:05 PM PST

Enterprise Products Partners L.P. (EPD) announced the acquisition of Houston Ship Channel facility for $38.5 million. The latter was previously a part of Bigler LP with a production capacity of 300 million pounds of high-purity isobutylene (HPIB) per annum, required in the manufacture of tires, lubricants and other petroleum-based products.
The facility is situated within a complex of almost 250-acre and houses four pressurized spheres for the storage of HPIB and butanes. Multiple … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down At The End Of U.S. Session

Posted: 22 Nov 2010 01:55 PM PST

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3625, down 0.36% at time of writing.

The pair was likely to find support at 1.3461, Wednesday's low, and resistance at 1.3786, today's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.20% to hit 0.8538 and EUR/JPY falling 0.63% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: TSN, GS

Posted: 22 Nov 2010 01:53 PM PST

11/22/10 The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 22 Nov 2010 01:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Monday.

USD/JPY was trading at 83.29, down 0.29% at time of writing.

The pair was likely to find support at 83.04, Wednesday's low, and resistance at 83.78, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.40% to hit 1.3619 and GBP/USD falling 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Praxair Starts New Plant In Mexico

Posted: 22 Nov 2010 01:35 PM PST

Praxair Mexico, a subsidiary of Praxair Inc. (NYSE:PX), commenced its operations at a new air separation plant and also announced an increase in its liquid storage capacity in the San Nicolas Industrial Complex in the Monterrey metropolitan area, Nuevo Leon, México.
The air separation unit has a capacity of 400 tons per day, which will enable Praxair Mexico to meet its client's demand for oxygen, nitrogen, argon and carbon dioxide. The new unit is in addition to an existing air separation unit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Exxon’s Asset Disposal Program

Posted: 22 Nov 2010 01:35 PM PST

According to a report by Sunday Times, oil major ExxonMobil Corporation (NYSE:XOM) intends to dispose of its North Sea assets worth $2 billion, including its vast Beryl field, to focus more on other fast growing areas such as Brazil. The company declined to comment on the report, but confirmed that it plans to divest 100 petrol stations in Scotland.
Regarding the North Sea divestiture plan, Exxon's spokesman pointed out that the company intends to continue as a major investor in the North Sea … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 22 Nov 2010 01:25 PM PST

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3622, down 0.38% at time of writing.

The pair was likely to find support at 1.3461, Wednesday's low, and resistance at 1.3786, today's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.24% to hit 0.8536 and EUR/JPY falling 0.70% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Mixed At Close; Dow Jones Down 0.22%

Posted: 22 Nov 2010 01:10 PM PST

Forex Pros – U.S. stocks were mixed after the closing bell on Monday.

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.22%, the S&P 500 index shed 0.16%, while the Nasdaq 100 index climbed 0.73%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 1.07%; Germany's DAX shed 0.31%; Britain's FTSE 100 declined 0.91%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Union Pacific Downgraded To Neutral

Posted: 22 Nov 2010 01:05 PM PST

We downgrade our recommendation for Union Pacific Corp. (NYSE:UNP) to Neutral based on its current valuation, which has moved up by 52% in the last one year and is currently trading at higher multiples with respect to several valuation metrics compared to the S&P 500 average.
Union Pacific is currently trading at the high-end of its 52-week price range. At this high valuation level, we believe there exists very limited scope for any near-term above-market gain.  
The company's third … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Baxter Buying Hemophilia Assets

Posted: 22 Nov 2010 01:05 PM PST

Baxter International (NYSE:BAX) recently signed a definitive agreement to purchase hemophilia-related assets from privately held biopharmaceutical firm, Archemix. In addition, the companies have established an exclusive license agreement for select intellectual properties.
Hemophilia is a rarely occuring genetic clotting disorder that mainly affects men. Patients suffering from hemophilia do not have enough of, or lack, one of the blood clotting proteins normally found in blood.
The primary … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Resource Capital Closes Two Loans

Posted: 22 Nov 2010 01:05 PM PST

Resource Capital Corp. (NYSE:RSO), a real estate investment trust (REIT) that invests in commercial real estate debt and other commercial finance assets, has recently obtained two self-originated loans totaling $17.9 million.
The deal signifies a positive development for the company, which is presently in a defensive mode as it tries to weather the turmoil in the credit markets and downturn in commercial real estate.
The company procured a three-year loan of $8.1 million secured by a neighborhood … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The U.S. Session

Posted: 22 Nov 2010 12:45 PM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Monday.

GBP/USD was trading at 1.5963, down 0.12% at time of writing.

The pair was likely to find support at 1.5856, Wednesday's low, and resistance at 1.6095, Friday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.22% to hit 0.8537 and GBP/JPY falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bio-Path (BPTH) Unique Drug Delivery Technology With Great Potential

Posted: 22 Nov 2010 12:35 PM PST

Grant Zeng, CFA

Bio-Path Holdings, Inc. ( BPTH )is a development stage biotech company. The Company was founded with technology from The University of Texas, MD Anderson Cancer Center dedicated to developing novel cancer drugs under an exclusive license arrangement. Since its inception, the Company has acquired three exclusive licenses from MD Anderson Cancer Center for three lead products and related nucleic acid drug delivery technology, including tumor targeting technology.
 
The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bio-Path (BPTH) Unique Drug Delivery Technology With Great Potential

Posted: 22 Nov 2010 12:35 PM PST

Grant Zeng, CFA

Bio-Path Holdings, Inc. ( BPTH )is a development stage biotech company. The Company was founded with technology from The University of Texas, MD Anderson Cancer Center dedicated to developing novel cancer drugs under an exclusive license arrangement. Since its inception, the Company has acquired three exclusive licenses from MD Anderson Cancer Center for three lead products and related nucleic acid drug delivery technology, including tumor targeting technology.
 
The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GE Wins China Aviation Deals

Posted: 22 Nov 2010 12:35 PM PST

CFM International, a 50/50 joint venture between General Electric Co (NYSE:GE) and French company Snecma, has obtained contracts worth $2.1 billion for supply of engines and services to Air China, China Eastern Airlines and the HNA Group.
The supply will include 20 CFM56-5B engines for Air China, 30 CFM56-5B engines for China Eastern Airlines and 42 CFM56-5B engines for new A320s under the HNA Group.
CFM International has already signed up with Commercial Aircraft Corporation of China Limited as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Accenture To Acquire CAS Computer

Posted: 22 Nov 2010 12:05 PM PST

Technology outsourcing and consulting major Accenture plc (NYSE:ACN) recently announced its intention to acquire Germany-based customer relationship management (CRM) and mobility software provider CAS Computer AG. The acquisition is expected to close by the end of January 2011. Financial terms of the deal were not disclosed.
CAS Computer provides software applications that facilitate organizations to better manage their trade promotions, retail executions and customer service. The company's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up During The U.S. Session

Posted: 22 Nov 2010 12:05 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Monday.

USD/CAD was trading at 1.0184, up 0.14% at time of writing.

The pair was likely to find support at 1.0122, today's low, and resistance at 1.0262, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.45% to hit 1.3613 and GBP/USD falling 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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