Friday, November 26, 2010

DailyMarkets.com - Rio Tinto’s Investment Plans

DailyMarkets.com - Rio Tinto’s Investment Plans

Rio Tinto’s Investment Plans

Posted: 26 Nov 2010 09:35 AM PST

Rio Tinto Plc. (NYSE:RIO) has decided to invest C$10 million (approximately US$10.1 million) for five years to build a Rio Tinto Centre for Underground Mine Construction. The new centre would improve construction activities in underground mines and help maximize output.
Rio Tinto is also on an investment spree to enhance production based on the gradual market recovery.  Recently, Rio Tinto announced plans to invest $2.1 billion for further development of its Pilbara iron-ore mine and $140 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SIRIUS XM Remains Neutral

Posted: 26 Nov 2010 09:30 AM PST

SIRIUS XM Radio Inc. (NASDAQ:SIRI) reported excellent financial results for the third quarter of 2010 that beat the Zacks Consensus Estimates. This was the combined results of a double-digit growth in revenue, significantly higher net addition to its pay-radio services, and a meaningful improvement in ARPU (average revenue per user).
The company, which was facing bankruptcy in 2009, is now steadily moving toward stability. After Comcast Corp. (NASDAQ:CMCSA), SIRIUS XM is the second largest entertainment … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On DIRECTV

Posted: 26 Nov 2010 09:30 AM PST

DIRECTV (NASDAQ:DTV) has successfully established itself as a premium brand in the U.S. pay-TV market. The company is targeting mainly the high-end customers who are willing to pay for its costly HD, DVR and interactive services and premium programs.
Since most of its subscribers belong to the upper strata of the society, churn rate of DIRECTV is very low. DIRECTV has initiated a massive marketing drive to attract customers to its exclusive programming. This strategy paid off as subscribers are … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AK Steel Downgraded

Posted: 26 Nov 2010 09:05 AM PST

According to Associated Press (AP), Standard & Poor’s Ratings Services, a credit rating agency, has lowered its outlook on steel producer, AK Steel Holding Corporation (NYSE:AKS) to “Negative” from its initial "Stable" outlook. Other ratings included a “BB” corporate credit rating that places AK Steel in non-investment grade status, two notches below the investment grade.
Last month, AK Steel reported third quarter 2010 results. The company posted net losses of $59.2 million or 54 cents … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ABB Invests In Renewable Energy

Posted: 26 Nov 2010 09:05 AM PST

ABB Ltd. (NYSE:ABB) made an investment of $13 million in Aquamarine Power, a Scotland based renewable energy company. Aquamarine engages in the conversion of wave energy into consumable electricity.
The investment was made by ABB's venture capital division, ABB Technology Ventures, and a portion of the investment of $4.8 million was from SSE Venture Capital, the venture capital unit of Scottish and Southern Energy and other investors.
The venture enhances the scope of ABB in the increasingly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Home Sales Still Falling

Posted: 26 Nov 2010 09:05 AM PST

New Home Sales in October fell by 8.1% from September to a dismal rate of 283,000. Relative to a year ago, sales are down 28.5. It’s not like September was a strong month for new home sales, either — the six lowest months on record (back to 1963) for new home sales, have all been in the last six months.

About the only good thing you can say about this report is that it was not the absolutely worst month on record. That dubious honor is still held by August 2010, with a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down At The End Of European Session

Posted: 26 Nov 2010 09:00 AM PST

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

EUR/USD was trading at 1.3241, down 0.88% at time of writing.

The pair was likely to find support at 1.3201, today's low, and resistance at 1.3786, Monday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8480 and EUR/JPY falling 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Mobile Carriers Partner On Isis Project

Posted: 26 Nov 2010 09:00 AM PST

11/26/2010 Wireless phone carriers AT&T, T-Mobile, Verizon launched a joint mobile payment network called the Isis … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Current Stock Market Correction Should Be Tamer Than Spring/Summer Plunge

Posted: 26 Nov 2010 08:50 AM PST

We have some elements in place for corrective activity, including fundamental concerns in Europe and high levels of investor optimism. The spring 2010 correction was painful with the S&P 500 falling 16%. If history is any guide, the current correction will most likely fall into the 3% to 5% range, rather than the 8% to 16% range. All corrections are unsettling, but the current situation should not be as gut-wrenching as what transpired between the April 2010 highs and the July … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: Walmart & Del Monte Foods

Posted: 26 Nov 2010 03:42 AM PST

11/26/10 The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 9:30 am EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bond Haircuts Talk Spooks Market

Posted: 26 Nov 2010 08:40 AM PST

US markets reopen today after the Thanksgiving Holiday, but volumes will be well below average and no US data are due. US-specific interest returns next week with a busy data schedule leading up to nonfarm payrolls a week today. For now market sentiment will likely be dominated by a triple threat of the (1) North/South Korea dispute, (2) EU sovereign debt crisis and (3) fear of policy tightening in China, all of which will keep the USD biased higher. With the US and South Korea to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Total Expands In Gabon

Posted: 26 Nov 2010 08:35 AM PST

Integrated oil and gas company TOTAL S.A. (NYSE:TOT) announced that its subsidiary Total Gabon received approval from the Gabonese government to carry on exploration in the sedimentary basin of Gabon.
Total Gabon received approval for exploring in three onshore regions, namely, a 50% interest in the Mutamba-Iroru license alongside Vaalco, stretching over 422.4 square  miles in southern Gabon; a 30% interest in the DE7 license alongside Perenco, located in central Gabon, covering an area of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Baker Hughes In Neutral Lane

Posted: 26 Nov 2010 08:35 AM PST

We are maintaining our Neutral stance on Baker Hughes Inc. (NYSE:BHI) following its impressive third quarter results, strong North American land business as well as a well-rounded suite of product offerings.
Baker's earnings saw a more than three fold jump in the recently concluded quarter, driven by strength in the US Land market and seasonal recovery in Canada. Notably, the third quarter was the first full quarter following the acquisition of BJ Services. We believe the integration will likely … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Duke Energy Thinks Out Of The Box

Posted: 26 Nov 2010 08:30 AM PST

Charlotte, North Carolina based Duke Energy Corporation (NYSE:DUK) is thinking beyond its traditional electricity generation utility space. Trying to diversify its renewable energy portfolio, the company signed an agreement with Tokyo-based ITOCHU Corporation to collaborate on advanced energy technologies. The duo will initially focus on creating a new market for the used and discarded electric vehicle (EV) batteries in other applications.
Duke Energy's out-of-the-box thinking will open up a new … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lockheed Sells EIG Business

Posted: 26 Nov 2010 08:30 AM PST

Lockheed Martin Corporation (NYSE:LMT) has successfully sold off its Enterprise Integration Group (EIG) business to Veritas Capital. The company received $815 million in cash for the sale, which was announced on June 2, 2010.
Lockheed's decision to dispose EIG was based on the U.S. Government’s apprehension regarding the perceived organizational conflicts of interest. Divesting the business is intended to reduce the scope of such perception and benefit customers, shareholders and employees.
EIG … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On Lamar Advertising Company

Posted: 26 Nov 2010 08:30 AM PST

We recently reiterated our Neutral recommendation on Louisiana-based, Lamar Advertising Company (NASDAQ:LAMR).
The company is one of the largest owners and operators of outdoor advertising structures in the U.S. with three prime sources of revenue including billboards, logo signs and transit advertising displays.
Lamar's financial results for the third quarter 2010 were impressive as the company reported positive earnings of a cent compared with a 5 cent loss in the comparable quarter of 2009. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cogo Announces Design Wins

Posted: 26 Nov 2010 08:30 AM PST

Cogo Group Inc. (NASDAQ:COGO) announced its latest series of embedded solution design wins in the automotive sector. The new design wins will broaden Cogo’s presence in China’s rapidly growing automotive sector beyond its current partnership with BYD, a leading domestic auto manufacturer.
The customized, embedded solutions and software design wins are targeted toward the largest domestic Chinese auto-vendor, Chery, and include a number of key applications including GPS navigation, in-car PCs, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 26 Nov 2010 08:05 AM PST

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

USD/CAD was trading at 1.0193, up 1.02% at time of writing.

The pair was likely to find support at 1.0076, Thursday's low, and resistance at 1.0265, Tuesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 1.00% to hit 1.3225 and GBP/USD falling 0.98% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Del Monte’s Frsh Start, Agrees To $4 Billion Buyout

Posted: 26 Nov 2010 08:03 AM PST

11/26/10 The Del Monte Food Co. announced Thursday that it will be bought by a private equity group for roughly $4 billion in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 26 Nov 2010 07:30 AM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 84.11, up 0.61% at time of writing.

The pair was likely to find support at 82.79, Tuesday's low, and resistance at 84.18, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.86% to hit 1.3243 and GBP/USD falling 0.83% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Warren Buffett On TARP, Economy And Stocks

Posted: 26 Nov 2010 06:33 AM PST

click to view

Warren Buffett was on Cnbc recently talking to his favorite anchor Becky Quick. I was able to locate two videos of the interview on the internet.
The first video talks about the positive role Government played with the passage of TARP. Buffett joked that if it was not for TARP he would be spending thanksgiving at McDonalds. Buffett believes if it was not for the Government's passage of TARP there would have been a domino effect which would have destroyed our entire … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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