Friday, November 12, 2010

DailyMarkets.com - ‘Is This An Episode Of The Twilight Zone?’

DailyMarkets.com - ‘Is This An Episode Of The Twilight Zone?’

‘Is This An Episode Of The Twilight Zone?’

Posted: 12 Nov 2010 04:12 PM PST

Amid the economic wreckage that surrounds us, sometimes all you can do is laugh. In fact, I was nearly crying with laughter while watching “Quantitative Easing Explained,” a devastating (but very funny) YouTube video cartoon smackdown of the Federal Reserve and its dangerously misguided efforts to get the economy moving again. Here are two brief snippets:
Woman: So, why do they call it the “quantitative easing”? Why don’t they just call it printing money?
Man: Because the printing money … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pepco Gets $3.9 Million Contract

Posted: 12 Nov 2010 04:05 PM PST

Pepco Energy Services Inc., a subsidiary of Pepco Holdings Inc. (NYSE:POM), has been awarded a $3.9 million contract to design and build a plant at the Alpha Ridge Landfill, near Baltimore.
The contract award by Howard County, Maryland, entails the construction of a new 1 MW landfill gas-to-energy generating plant at the Alpha Ridge Landfill.
The new plant will use methane gas as a fuel for a reciprocating engine and generator to produce 1 MW of electric power. The electric power produced at the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

October Sales For Volkswagen Accelerate

Posted: 12 Nov 2010 04:00 PM PST

11/12/10 Strong demand in China and the US allowed Volkswagen AG to announce that it sold nearly 10% more cars in October than it did the previous … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chinese Workers Build 15-story Hotel In Just 6 Days

Posted: 12 Nov 2010 03:48 PM PST

Yahoo! News — “A construction crew in the south-central Chinese city of Changsha has completed a 15-story hotel in just 6 days. The work crew erected the hotel — a soundproofed, thermal-insulated structure reportedly built to withstand a magnitude 9 earthquake — with all prefabricated materials. In other words, a crew of off-site factory workers built the sections, and their on-site counterparts arranged them on the foundation for the Ark Hotel project.

Despite the frenetic pace of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ETP’s Projects Nearing Completion

Posted: 12 Nov 2010 03:35 PM PST

Energy Transfer Partners L.P. (ETP), a master limited partnership ("MLP"), announced that two pipeline projects (Fayetteville Express Pipeline and the Tiger Pipeline) that will transport shale gas further downstream, will come online several months ahead of schedule and significantly below budget.
The Fayetteville Express Pipeline (a 185 mile 42-inch interstate pipeline originating in the Fayetteville Shale and extending through Arkansas and into Mississippi) and the Tiger Pipeline (a 175 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CSC To License Billing Software

Posted: 12 Nov 2010 03:35 PM PST

Virginia-based Computer Sciences Corp. (NYSE:CSC) announced that it has signed a multi-year licensing agreement with leading insurance group, Shelter Mutual Insurance Company of Columbia. Financial terms were not disclosed.
As per the agreement, Computer Sciences will license its Exceed Billing Software to Missouri-based Shelter Mutual Insurance. The software adds new capabilities in the insurance business that make the billing process faster, more cost effective and the settlement of claims … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chevron Retains Neutral Rec

Posted: 12 Nov 2010 03:35 PM PST

We are maintaining our Neutral rating on Chevron Corporation (CVX), reflecting lower-than-expected third quarter 2010 results. Higher costs incurred in association with the Gulf of Mexico ("GoM") drilling moratorium and lower U.S. volumes have impaired the company's performance.
3Q10 Quarter Recap
Chevron's earnings per share (excluding foreign-currency effects) came in at $2.06, running behind the Zacks Consensus Estimate of $2.15. On a year-over-year basis, earnings moved up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LAN Traffic Rises Significantly

Posted: 12 Nov 2010 03:05 PM PST

Chile-based LAN Airlines S.A. (NYSE:LFL) released its passenger traffic data for October 2010. Total passenger traffic grew significantly by 16.0% year over year, with an 11.9% increase in domestic traffic and 17.7% in international traffic. International passenger traffic accounted for approximately 70% of the total passenger traffic.
Cargo traffic shot up 18.5% year over year based on higher imports into Latin America and increased operations to Europe with the Boeing 777-200 freighter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

L-3 Comm Gets Another Contract

Posted: 12 Nov 2010 03:05 PM PST

L-3 Communications Holdings Inc. (NYSE:LLL) announced that its STRATIS division has been selected as one of the three prime contractors for the Intelligence Support Services-Afghanistan (ISS-A) contract.
Under this contract, L-3 has already been awarded two firm fixed-price task orders valued at $36 million to provide intelligence support to the United States Forces-Afghanistan (USFOR-A). Going forward, L-3 will provide multi-functional analysis, counterintelligence support, signals intelligence … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: MWI Vet Supply

Posted: 12 Nov 2010 03:05 PM PST

The announcement of MWI Veterinary Supply’s (NASDAQ:MWIV) fourth quarter and fiscal 2010 results on November 4, 2010, has triggered the positive revision of estimates among analysts for fiscal 2011 and 2012.
Previous Quarter and Fiscal 2010 Highlights
MWI Veterinary Supply reported an EPS of $0.71 in the fourth quarter of fiscal 2010, up 34% from $0.53 in the year-ago period and surpassing the Zacks Consensus Estimate of $0.61.
For fiscal 2010, the company reported an EPS of $2.70, well above the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lockheed Wins Navy Contract

Posted: 12 Nov 2010 03:05 PM PST

Lockheed Martin Corporation (NYSE:LMT) announced that it received a contract from the U.S. Navy worth $97 million for production of the Aegis Weapon System for destroyer DDG-113. The contract value also includes advance funding for procurement of additional systems for DDG 14 and 15.
As per the contract, Lockheed will produce four Aegis multi-mission signal processors, three for the destroyers and one for the U.S. Navy’s Surface Combat System Center on Wallops Island, Virginia.
This contract also … [visit site to read more] or compare Best Credit Cards and Best CD Rates

MeadWestvaco To Acquire Spray Plast

Posted: 12 Nov 2010 02:35 PM PST

Paper and plastics maker MeadWestvaco Corporation (NYSE:MWV) entered into an agreement to acquire Spray Plast SpA in a drive to expand its European footprint in the Home & Garden business. The acquisition is expected to close by the end of the fourth quarter of this year.
Based in Italy, Spray Plast is a producer of all-plastic trigger sprayers and dispenser pumps, which are widely used in the consumer and professional markets.
MeadWestvaco’s Home & Garden business is faring well in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PPL’s E.ON Financing Complete

Posted: 12 Nov 2010 02:35 PM PST

PPL Corporation (NYSE:PPL) announced the completion of the final leg of financing for the recently acquired LG&E and KU Energy LLC, formerly E.ON U.S., the parent company of Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU).
The three Kentucky companies agreed to sell $2.9 billion worth of debt, proceeds of which will be used to repay interim financing made by PPL to the Kentucky companies in connection with PPL’s acquisition of them.
Of the planned $2.9 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: DIS, JCP, WEN

Posted: 12 Nov 2010 02:18 PM PST

11/12/10 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

Earnings Preview: Jacobs Engineering Group Inc.

Posted: 12 Nov 2010 02:05 PM PST

Jacobs Engineering Group Inc. (NYSE:JEC) is scheduled to report its fourth quarter and fiscal 2010 operating results on November 16. Management expects fiscal 2010 EPS to be in the range of $2.30-$2.65 and the Zacks Consensus Estimate to remain at $2.45 per share.
Third Quarter Highlights
On July 26, Jacobs reported in-line results for the third quarter of fiscal 2010. During the quarter, Jacobs reported earnings per share (EPS) of $0.63, a decrease of $0.13 from the year-ago level of $0.76, but a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mindray’s Products At MEDICA 2010

Posted: 12 Nov 2010 02:05 PM PST

Leading Chinese medical devices maker Mindray Medical International Limited (NYSE:MR) has announced that it will participate at the "MEDICA 2010" international medical technology trade fair, slated to be held in Dusseldorf, Germany from November 17-20, 2010.
MEDICA is one of the largest international trade fairs for the medical sector with more than 135,000 visitors across the globe are expected to attend the event this year.
Mindray plans to showcase more than 50 devices from its three major … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EPD’s Organic Growth Continues

Posted: 12 Nov 2010 02:05 PM PST

Enterprise Products Partners L.P. (NYSE:EPD) intends to construct a crude oil storage facility, the Enterprise Crude Houston terminal, and associated pipelines to accommodate growing production from the Eagle Ford Shale play in South Texas. The construction mainly aims at facilitating the refiners in the Houston area. The partnership expects the total infrastructure to come online in mid-2012.
In a 150-acre tract in southeast Houston, the Enterprise Crude Houston terminal, will receive crude oil … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Nov 2010 02:00 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of euro zone data on GDP.

EUR/USD was trading at 1.3692, up 0.17% at time of writing.

The pair was likely to find support at 1.3574, today's low, and resistance at 1.4085, Monday's high.

Earlier in the day, preliminary official data showed that Gross domestic product in the euro zone rose less-than-expected to a seasonally adjusted 0.40% in the last quarter from 1.00% in the preceding quarter.

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

Forex – USD/CAD Up Toward The End Of U.S. Session

Posted: 12 Nov 2010 01:45 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

USD/CAD was trading at 1.0102, up 0.70% at time of writing.

The pair was likely to find support at 0.9977, Thursday's low, and resistance at 1.0146, today's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 69.30 last month from 67.70 in the preceding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PX India’s Daily Gas Supply For Tata Steel

Posted: 12 Nov 2010 01:35 PM PST

Praxair Inc's (NYSE:PX) Indian unit, Praxair India Private Limited contracted to supply 600 tons of high pressure nitrogen daily to Tata Steel Limited. The gas supplied will be used primarily for steel production by the Indian steel maker.
The contract enhances Praxair’s long-term bonding with Tata Steel, as the company has been supplying gaseous oxygen, nitrogen and argon to Tata Steel's Jamshedpur facility since 2005. The company has three air separation units set with a total capacity of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: Qualcomm Inc.

Posted: 12 Nov 2010 01:35 PM PST

Qualcomm Inc. (NASDAQ:QCOM) reported strong earnings results for the fourth quarter of fiscal year 2010, beating the Zacks Consensus Estimate by 2 cents per share. Overall, the analysts are bullish, given the company's impressive fourth quarter results.
Qualcomm benefited from a significant surge in demand for high-end 3G smartphones, the company's technology leadership, solid MSM chipset shipments, an extremely healthy balance sheet and strong execution. Management is now more confident … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up Toward The End Of U.S. Session

Posted: 12 Nov 2010 01:30 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday.

GBP/USD was trading at 1.6138, up 0.10% at time of writing.

The pair was likely to find support at 1.5954, Tuesday's low, and resistance at 1.6215, Monday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.09% to hit 0.8486 and GBP/JPY rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Lower; Dow Jones Down 0.8%

Posted: 12 Nov 2010 01:28 PM PST

Forex Pros – U.S. stocks were down after the closing bell on Friday.

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.8%, the S&P 500 index shed 1.18%, while the Nasdaq 100 index declined 1.62%.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 69.30 last month from 67.70 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 69.00 last month.

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

Earnings Scorecard: Devon Energy

Posted: 12 Nov 2010 01:05 PM PST

Following Devon Energy Corporation's (NYSE:DVN) robust third quarter 2010 earnings results on November 3, 2010, analyst sentiments on the stock were mixed, while estimates are drifting more to the upside. Strong realized prices for hydrocarbons and improved cost efficiencies resulting from the asset repositioning Devon to outperformance during the September quarter.
Earnings Review
Devon Energy Corp. for the third quarter of 2010 clocked adjusted EPS of $1.44, which was above the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

StanCorp Financial Upgraded

Posted: 12 Nov 2010 01:05 PM PST

We recently upgraded StanCorp Financial Group (NYSE:SFG) to Neutral from Underperform on the back of solid third-quarter results.
StanCorp Financial reported third-quarter 2010 operating earnings of $1.39 per share beating the Zacks Consensus Estimate as well as the year-ago figure. The beat was driven by favorable claims and increased premiums in the Insurance Services segment, coupled with improved earnings in the Asset Management segment and share buyback activity.
StanCorp Financial witnessed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Church & Dwight Tops Estimate

Posted: 12 Nov 2010 12:35 PM PST

Church & Dwight Co. Inc. (NYSE:CHD), a leading consumer products company, posted third-quarter earnings of 96 cents a share, outpacing the Zacks Consensus Estimate of 89 cents a share.  However, earnings fell short of the prior-year figure of 98 cents a share.
Church & Dwight's topline grew 1.7% to $656.9 million for the third quarter of fiscal 2010 with organic sales growth of 2.8%. The growth in organic sales was attributable to volume expansion of 5.0%. Volume growth was, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Brinker Raises Share Buy Back

Posted: 12 Nov 2010 12:35 PM PST

Brinker International Inc. (EAT), which operates Chili's Grill & Bar and Maggiano's Little Italy restaurants, raised its share buyback program by an additional $325 million.
Management plans to continue to repurchase shares with the proceeds stemming from the On The Border divestiture on June 2010, as well as with excess free cash flow in fiscal 2011. On March 26, 2010, Brinker’s board of directors authorized an additional $250 million of share repurchases.
During the first quarter of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PKX Invests In Brazil’s Steel Market

Posted: 12 Nov 2010 12:35 PM PST

Korean steel producer, POSCO (NYSE:PKX) joined hands with Brazil's Vale S.A. (VALE) and Dongkuk Steel Mill for the construction of a steel plant in the state of Ceara, Brazil. Vale will hold a 50% stake in the plant with POSCO holding 30% and Dongkuk Steel Mill the remaining 20%.
As per the memorandum of association signed, the three companies will begin construction of the plant early in 2011 with a view to having an initial production capacity of 3 million tons of steel slabs. For the second … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Nov 2010 12:05 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

EUR/USD was trading at 1.3693, up 0.18% at time of writing.

The pair was likely to find support at 1.3574, today's low, and resistance at 1.4085, Monday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 69.30 last month from 67.70 in the preceding month.

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

The Failure Of The G-20 Summit

Posted: 12 Nov 2010 11:34 AM PST

The President emerged today from a meeting with the heads of state and finance ministers of the 20 biggest economies, in Soeul, South Korea, saying they had agree to "get the global economy back on the path of recovery."
But where are the specifics? The three-page communique that also emerged from the session brims with bromides about the importance of "rebalancing" the global economy, "coordinating" policies, and refraining from "competitive devaluations."
All nice, but not a … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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