DailyMarkets.com - Singapore’s Acquisition Of Australian Stock Exchange May Be Off

Singapore’s Acquisition Of Australian Stock Exchange May Be Off
Forex – AUD/USD Down On Economic Data
Big 5 Misses By Small Margin
Forex – EUR/USD Up During The Asian Session
Forex – USD/JPY Up During The Asian Session
The Day Ahead: FOMC Announcement, ADP Report
Earnings Preview: Computer Sciences
Greatbatch Lowered To Underperform
Closing Bell Market Monitor: MA, MHS, ADM, PFE
Earnings Scorecard: V.F. Corp.
Omnicom Expands Its Global Reach
Earnings Preview: Qualcomm Inc.
TRB: FA = JM
Earnings Preview: IFF
URS Gets U.S. Navy Order
Capella Education: Earnings Scorecard
RC2 Downgraded To Neutral
Forex – EUR/USD Up Toward The End Of U.S. Session
Forex – GBP/USD Down Toward The End Of U.S. Session
NYSE Beats But EPS Falls
PPL Completes E.ON Acquisition
Forex – USD/CAD Down Toward The End Of U.S. Session
U.S. Markets Close Higher; Dow Jones Up 0.58%
Impressive 3Q For Stratasys
Stanley B&D To Offer Preferred Units
Forex – EUR/JPY Up Toward The End Of U.S. Session
Rowan Posts Impressive 3Q
Emerson Underperforms Estimate
Evergreen Falls Below Estimates
Vale’s Investment Doubled
Forex – USD/CHF Down Toward The End Of U.S. Session
Nile Therapeutics Heart Drug Passes Phase 2
AmerisourceBergen Beats In Q4, Raises 2011 View
Nile Therapeutics Heart Drug Passes Phase 2
AmerisourceBergen Beats In Q4, Raises 2011 View
Nile Therapeutics Heart Drug Passes Phase 2
Nile Therapeutics Heart Drug Passes Phase 2
Expeditors Beats Estimates
Rowan Posts Impressive 3Q
Rowan Posts Impressive 3Q
Forex – AUD/USD Up On Economic Data
Fed Speculation Continues To Hurt Dollar

Singapore’s Acquisition Of Australian Stock Exchange May Be Off

Posted: 02 Nov 2010 05:01 PM PDT

A combination of narrow Australian nationalism, reasonable suspicion of Singapore's statist system and revolt by the non-government shareholders in the Singapore Stock Exchange (SGX) may yet kill its US$8.3 billion offer for the Australian Stock Exchange (ASX).

But the offered price reveals much about Singapore's trophy-hunting mentality, and that of the supposed star western executives it loves to hire – in this case Magnus Bocker, recruited in 2009 from Nasdaq-OSX. It is a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down On Economic Data

Posted: 02 Nov 2010 05:00 PM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Wednesday.

AUD/USD was trading at 0.9988, down 0.07% at time of writing.

The pair was likely to find support at 0.9680, Friday's low, and resistance at 1.0023, Tuesday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.06% to hit 1.4050 and AUD/JPY falling 0.00% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Big 5 Misses By Small Margin

Posted: 02 Nov 2010 04:35 PM PDT

Big 5 Sporting Goods Corp. (NASDAQ:BGFV) reported third quarter 2010 earnings per share of 31 cents missing Zacks Consensus estimates by a penny. Earnings per share also decreased 16.2% compared to same quarter last year.
Quarter in Detail
Net sales increased marginally to $231.8 million from $231.6 million year-over-year. The sales also could not match up to the Zacks Consensus Estimates of $233 million.
The only marginal increase in net sales was attributable to the negative impact of the calendar … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 02 Nov 2010 04:30 PM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.4036, up 0.01% at time of writing.

The pair was likely to find support at 1.3779, Thursday's low, and resistance at 1.4058, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8752 and EUR/JPY rising 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session

Posted: 02 Nov 2010 04:05 PM PDT

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

USD/JPY was trading at 80.67, up 0.05% at time of writing.

The pair was likely to find support at 80.25, Monday's low, and resistance at 81.70, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.01% to hit 1.4033 and GBP/USD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: FOMC Announcement, ADP Report

Posted: 02 Nov 2010 04:00 PM PDT

11/03/10 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

Earnings Preview: Computer Sciences

Posted: 02 Nov 2010 03:35 PM PDT

Computer Sciences Corporation (NYSE:CSC) is scheduled to announce its second quarter fiscal 2011 results on November 10, 2010, and we do not see substantial variation in analyst estimates at this point.
First Quarter Overview
The company reported decent first quarter 2011 numbers, with earnings per share (EPS) of $0.91 exceeding the Zacks Consensus Estimate of $0.90, although earnings declined from the year-ago quarter. Computer Sciences generated revenues of $3.94 billion, up 1.1% from the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Greatbatch Lowered To Underperform

Posted: 02 Nov 2010 03:05 PM PDT

We downgrade our recommendation for Greatbatch Inc (NYSE:GB) to Underperform following its lower-than-expected third quarter fiscal 2010 results and management's tepid outlook. Both revenues and earnings for the quarter missed the Zacks Consensus Estimate, impacted by the decline in the company's CRM/Neuromodulation business.
Higher sales from Electrochem (up 33% year over year), Vascular (up 8%) and Orthopedic (up 21%) businesses in the quarter were partly masked by a weak CRM/Neuromodulation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: MA, MHS, ADM, PFE

Posted: 02 Nov 2010 02:44 PM PDT

11/02/10 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 Scorecard: V.F. Corp.

Posted: 02 Nov 2010 02:35 PM PDT

On October 21, 2010, V.F. Corporation (NYSE:VFC) reported third-quarter fiscal 2010 earnings per share of $2.22, and handily surpassed the Zacks Consensus Estimate of $2.11. The stronger-than-expected results prompted management to raise its guidance. The company now expects fiscal 2010 earnings in the range of $6.25 to $6.30 per share, up from the previous guidance of $6.10.
Quarterly Review
V.F. Corp.'s 7.0% increase in sales to $2,232.4 million, compared with $2,093.8 million in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Omnicom Expands Its Global Reach

Posted: 02 Nov 2010 02:35 PM PDT

Unit of Omnicom Group Inc. (NYSE:OMC), Diversified Agency Services (DAS), acquired the U.K. based design and communications agency, The Core.
Part of Diversified Agency Services (DAS), Adelphi Worldwide, partnered with Face to Face GmbH, Cologne-based healthcare communications agency, to enhance its market research and strategic communications.
In addition to the above, Adelphi has recently acquired U.K.-based Excerpta Medica and established Adelphi Germany to expand its global reach and its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Qualcomm Inc.

Posted: 02 Nov 2010 02:35 PM PDT

Qualcomm Inc. (QCOM) is slated to release its fourth quarter 2010 results on Wednesday, November 3 after the closing bell. The current Zacks Consensus Estimate for the fourth quarter is 51 cents per share, representing annualized growth of 16.67%.
With respect to earnings surprises, over the trailing four quarters, Qualcomm’s average earnings surprise was a positive 3.40%, implying that the company has outperformed the Zacks Consensus Estimate by the same magnitude over the last four … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TRB: FA = JM

Posted: 02 Nov 2010 02:06 PM PDT

Joshua Brown at The Reformed Broker is back with a second annual list of finance blogs that he monitors on a semi-regular basis, and Financial Armageddon is among the 33 listed under the heading “Jedi Masters – Macroeconomics, Capitalism, Big Picture Wisdom,” which includes:

The Big Picture
Economists View
Investment Postcards
Calculated Risk
Baseline Scenario
Cafe Americain
Bronte Capital
Abnormal Returns
Global Econ Trend Analysis
Psy-Fi Blog
Market-Ticker
Naked Capitalism
Infectious … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: IFF

Posted: 02 Nov 2010 02:05 PM PDT

International Flavors & Fragrances Inc. (NYSE:IFF) is slated to release its third quarter 2010 results on Thursday, November 4. The current Zacks Consensus Estimate for the third quarter earnings per share (EPS) is 86 cents, representing an annualized growth of 5.23%.
International Flavors has outperformed the Zacks Consensus Estimate in the preceding four quarters. The company has a positive average earnings surprise of 6.55%, implying that the stock has outdone the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

URS Gets U.S. Navy Order

Posted: 02 Nov 2010 02:05 PM PDT

URS Corporation (NYSE:URS) has been awarded a $45 million contract to provide technical and program management capabilities to the Naval Surface Warfare Center in Crane, Indiana.
URS will offer research, design and development services in addition to acquisition, prototyping and life-cycle management for Navy and Department of Defense Electronic Warfare Systems. The contact has a maximum duration of two years.
URS continues to see favorable trends in the federal government sector. There is strong … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Capella Education: Earnings Scorecard

Posted: 02 Nov 2010 02:05 PM PDT

Capella Education Company (NASDAQ:CPLA), the provider of online education, delivered better-than-expected third-quarter 2010 results on October 26, 2010, buoyed by a rise in enrollment.
Street analysts had nearly a week to digest the news. In the paragraphs that follow, we cover the recent earnings announcement, subsequent analyst estimate revisions and the Zacks ratings for the short-term and long-term outlook for the stock.
Earnings Report Review
Capella's quarterly earnings of 80 cents a share, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RC2 Downgraded To Neutral

Posted: 02 Nov 2010 02:05 PM PDT

RC2 Corp. (NASDAQ:RCRC), a leading toy company, has been downgraded from Outperform to Neutral.
The rating has been downgraded mainly due to the disappointing third quarter results. Additionally, tough comparisons in 2010 due to the loss of the Thomas & Friends license may be a drag on the stock.
We also remain cautious on the stock, owing to input cost pressure and currency fluctuation risk. Moreover, competition from private label toys and the video game industry is increasing and orders from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 02 Nov 2010 01:55 PM PDT

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

EUR/USD was trading at 1.4032, up 1.00% at time of writing.

The pair was likely to find support at 1.3779, Thursday's low, and resistance at 1.4058, today's high.

Earlier in the day, data showed that the euro zone's manufacturing PMI rose unexpectedly to 54.60 last month, from 54.10 in the preceding month.

Analysts had expected the euro zone's manufacturing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 02 Nov 2010 01:40 PM PDT

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

GBP/USD was trading at 1.6034, down 0.01% at time of writing.

The pair was likely to find support at 1.5762, Thursday's low, and resistance at 1.6089, Monday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 1.03% to hit 0.8754 and GBP/JPY rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NYSE Beats But EPS Falls

Posted: 02 Nov 2010 01:35 PM PDT

NYSE Euronext Inc.'s (NYSE:NYX) third quarter operating earnings per share of 46 cents came in three pennies ahead of the Zacks Consensus Estimate of 43 cents. However, earnings were substantially behind the 53 cents recorded in the year-ago quarter and 64 cents recorded in the prior quarter.
Results reflect weak transaction and clearing volumes, particularly in the European cash and derivatives trading that primarily lowered the top line. Both New York Portfolio Clearing (NYPC) and NYSE Liffe … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PPL Completes E.ON Acquisition

Posted: 02 Nov 2010 01:35 PM PDT

PPL Corporation (NYSE:PPL) announced the successful completion of the acquisition of E.ON U.S. LLC, the parent company of Kentucky’s two major utilities – Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU). The company paid $7.6 billion, including assumed debt, to E.ON AG for the acquisition.
The addition of LG&E and KU to PPL's assets has enhanced its business mix by adding a significant amount of regulated delivery and generation assets. The newly acquired … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 02 Nov 2010 01:25 PM PDT

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Tuesday.

USD/CAD was trading at 1.0094, down 0.57% at time of writing.

The pair was likely to find support at 1.0082, today's low, and resistance at 1.0287, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 1.01% to hit 1.4034 and GBP/USD falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 0.58%

Posted: 02 Nov 2010 01:10 PM PDT

Forex Pros – U.S. stocks were up after the closing bell on Tuesday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.58%, the S&P 500 index gained 0.78%, while the Nasdaq 100 index climbed 1.09%.

Meanwhile, across the Atlantic, European stock markets closed higher. France's CAC 40 was up 0.64%; Germany's DAX gained 0.75%; Britain's FTSE 100 climbed 1.10%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Impressive 3Q For Stratasys

Posted: 02 Nov 2010 01:06 PM PDT

Stratasys Inc. (NASDAQ:SSYS) reported third quarter 2010 earnings per share of 15 cents, 3 cents above the Zacks Consensus Estimate of 12 cents per share.
Revenue
Stratasys reported third quarter 2010 revenue of $30.3 million, up 24.0% from $24.3 million reported in the year-ago quarter. Growth in revenue is attributable to an improvement in business conditions within the company's core market.
Consumable and system unit sales were also encouraging, increasing 34% and 39%, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stanley B&D To Offer Preferred Units

Posted: 02 Nov 2010 01:06 PM PDT

Stanley Black & Decker Inc. (NYSE:SWK) will be issuing 5.50 million of Convertible Preferred Units due in 2018 at $100 per unit. The units will also carry a purchase contract to obtain convertible preferred stock on November 17, 2015.
Settlement of the purchase contract, earlier than the stated time will entitle only 0.85 shares of convertible preferred stock for each contract.
Stanley Black & Decker intends to use the proceeds for the redemption of its 5.902% fixed and floating rate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up Toward The End Of U.S. Session

Posted: 02 Nov 2010 12:45 PM PDT

Forex Pros – The Euro was higher against the Japanese Yen on Tuesday after the release of euro zone data on Manufacturing PMI.

EUR/JPY was trading at 113.21, up 1.22% at time of writing.

The pair was likely to find support at 111.53, Friday's low, and resistance at 113.48, today's high.

Earlier in the day, data showed that the euro zone's manufacturing PMI rose unexpectedly to 54.60 last month, from 54.10 in the preceding month.

Analysts had expected the euro zone's manufacturing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rowan Posts Impressive 3Q

Posted: 02 Nov 2010 12:35 PM PDT

Rowan Companies Inc. (NYSE:RDC) reported third-quarter 2010 earnings of 57 cents per share, well above the Zacks Consensus Estimate of 51 cents and the year-earlier profit of 54 cents. The result was aided by solid contract drilling operations and a lower effective income tax rate. We have adjusted the prior-year quarter's results for 15 cents per share net tax benefit.
The quarter's revenues of $437.9 million increased nearly 11.3% year over year, but missed the Zacks Consensus Estimate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Emerson Underperforms Estimate

Posted: 02 Nov 2010 12:35 PM PDT

Emerson Electric Co.'s (NYSE:EMR) third quarter 2010 earnings result, released before the opening bell today, were below the Zacks Consensus Estimate on the top and bottom line. Earnings per share from continuing operations of 75 cents increased 12% year over year, but underperformed the Zacks Consensus Estimate of 78 cents. In the last quarter, Emerson had surpassed the Zacks Consensus Estimate by 10 cents.
Earnings result in the quarter was negatively impacted by 4 cents from the acquisition … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Evergreen Falls Below Estimates

Posted: 02 Nov 2010 12:35 PM PDT

Massachusetts-based Evergreen Solar Inc. (NASDAQ:ESLR) reported third-quarter 2010 loss per share of 13 cents, more than double of the year-ago quarterly loss of 6 cents. This is also higher than the Zacks Consensus Estimate of a loss of 11 cents.
Operational Results
Evergreen Solar's revenues for the third quarter of 2010 were $86.5 million, up 2.4% and 11.4% compared with second-quarter 2010 revenues of $84.5 million and year-ago revenues of $77.7 million. Revenues however, were below the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Vale’s Investment Doubled

Posted: 02 Nov 2010 12:35 PM PDT

Recently, Brazil's largest miner, Vale S.A. (VALE), declared a capital investment budget of $24 billion for fiscal 2011, more than double the $10.7 billion invested in the year ended September 30, 2010.
The increased investment is expected to support 15 new approved projects, projects in queue and existing operations. Vale will focus more on organic growth and, therefore, 81.3% of the total budget will be spent on Research & Development (R&D) as well as Greenfield and Brownfield … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 02 Nov 2010 12:25 PM PDT

Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Tuesday.

USD/CHF was trading at 0.9796, down 1.22% at time of writing.

The pair was likely to find support at 0.9758, today's low, and resistance at 0.9972, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the Japanese Yen, with EUR/USD gaining 1.02% to hit 1.4035 and USD/JPY rising 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates