Friday, November 12, 2010

DailyMarkets.com - SurModics Disappoints In Q4

DailyMarkets.com - SurModics Disappoints In Q4

SurModics Disappoints In Q4

Posted: 12 Nov 2010 12:05 PM PST

SurModics Inc. (NASDAQ:SRDX) suffered a loss (excluding special items) of $0.05 per share in the fourth quarter of fiscal 2010, well short of the Zacks Consensus Estimate which hinted at earnings of $0.13 per share. The company reported earnings of $0.16 per share in the year-ago quarter. The weak performance in the final quarter of fiscal 2010 was attributable to lower revenues.
Revenues dropped 19.3% year over year to $15.5 million in the reported quarter well short of the Zacks Consensus Estimate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Siemens Underperforms EPS Estimate

Posted: 12 Nov 2010 12:05 PM PST

Siemens AG (NYSE:SI) reported loss per share from continuing operations of €0.47 (61 cents) for the fourth quarter of fiscal 2010 compared with a loss per share of €1.21 in the year-ago quarter. The Zacks Consensus Estimate for the quarter was earnings per share of $1.78.
Revenue
The company recorded strong growth in order and revenue, positively affected by currency translation impacts. Total revenue was €21.23 billion ($27.39 billion) compared with €19.17 billion in the third quarter of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Charles River Misses, Trims Outlook

Posted: 12 Nov 2010 11:35 AM PST

Charles River Laboratories International Inc. (NYSE:CRL) posted third quarter fiscal 2010 earnings (excluding special items) of 45 cents per share, falling short of the Zacks Consensus Estimate of 49 cents and 30.8% below the year-ago earnings of 65 cents. The decrease in earnings was attributable to lower sales volume and higher costs incurred on Charles River's enterprise resource planning (ERP) initiative.
Revenues
Quarterly revenues decreased 7.2% to $276.1 million, short of the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The LGL Group (LGL) Makes Operating And Non-Operating Gains

Posted: 12 Nov 2010 11:35 AM PST

Written by Ken Nagy, CFA

On November 11, 2010 The LGL Group  (LGL) announced results for the third quarter of fiscal year 2010 ending September 2010. Revenue for the period was $12.4 million falling slightly sequentially from $12.4 million and up 69.3% year over year. MISA contracts won in the second half of 2009 have begun to contribute significantly to revenue. The contracts deal with military personnel protection and homeland security.

Foreign Sales Increase

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

Telefonica Reports Strong Results

Posted: 12 Nov 2010 11:35 AM PST

Spanish telecom giant Telefonica (NYSE:TEF) reported results for the first nine months of 2010 with earnings per share of €1.95 ($2.57) above €1.17 in the year-ago period. Despite weak Spanish operations, revenue growth in Latin America led to strong results for the period. Notably, earnings per share more than doubled year over year to €1.12 ($1.47) in the third quarter.
Net income jumped 65.6% year over year to €8.8 billion ($11.6 billion) for the first nine months of 2010. In the third … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AIG’s Nan Shan Deal Coming Soon?

Posted: 12 Nov 2010 11:05 AM PST

Moving ahead with its rigorous restructuring program, on Thursday, American International Group Inc. (NYSE:AIG) revealed its intentions of divesting its Nan Shan insurance unit in Taiwan in a couple of months, for about $2 billion, as reported by Reuters. The proceeds of the sale will be utilized to repay a part of the U.S. bailout loan.
Concurrently with its earnings release last week, AIG had intimated its intention of disposing of Nan Shan by the end of 2011. The latest newsflow narrows the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Telekomunikasi Posts Strong Results

Posted: 12 Nov 2010 11:05 AM PST

P.T. Telekomunikasi Indonesia Tbk. (NYSE:TLK), the largest telecom operator of Indonesia, declared impressive financial results for the first nine months of fiscal 2010. Net income in the first nine months of 2010 was nearly $1,001 million or $2.00 per ADS (American Depository Shares) compared to a net income of $875 million or $1.78 per ADS in the year-ago period. This was mainly due to higher revenues.
Total revenue for the first nine months of 2010 was a little over $5,840 million, up 3.9% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

California Pizza Beats, Shares Fall

Posted: 12 Nov 2010 11:05 AM PST

California Pizza Kitchen, Inc. (NASDAQ:CPKI), one of the leading casual dining restaurant chains, recently posted third quarter 2010 adjusted earnings of 23 cents per share, surpassing the Zacks Consensus Estimate of 19 cents, but dropped 4.2% from 24 cents in the prior-year quarter. The better-than-expected results were driven by positive comparable same store sales.
However, including charges for impairment, legal settlement and shutting down stores, the company reported a loss of $7.5 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Nov 2010 11:00 AM 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 1.0115, up 0.83% 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

Unusual Volume Movers In U.S. Stock Market On Friday

Posted: 12 Nov 2010 10:51 AM PST

I am tired – was up last night watching the latest market action. China has been dropping on inflation fears, adding fuel to the currency debate and then the delay of the Fed open market purchase brought out all the conspiracy theorists. These are the types of headlines that could act as a catalyst for the bears, at least for the short term, but potentially allows those who missed the last 7% to the upside to potentially scale in. Watching short-term supports — use 5-, 20-, and 35-Day … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Upward Trend In US Equities Is Still In Place”

Posted: 12 Nov 2010 10:49 AM PST

11/12/10 Sunrise Securities’ Ben Willis discusses the recent pullback in US equities, and potential monetary policy tightening in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Rebounds On Irish Bailout Speculation

Posted: 12 Nov 2010 05:42 AM PST

11/12/10 The euro continued its rebound this session following growing speculation of an Irish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Movers On Friday: GLD, NVDA, GMCR, EEM

Posted: 12 Nov 2010 10:41 AM PST

Nvidia Corp. (NASDAQ:NVDA) – It appears that Nvidia's strategic change might be paying off after challenges to its core chipset business from AMD and Intel threatened to derail its fortunes. Earlier results showed profits beat expectations albeit by a penny but prompted the company to raise revenue forecasts in a sign of a revival in personal computer demand. The company's revival involves new products in the market for chips that run add-in graphics to computers. The success is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: O’Reilly Automotive

Posted: 12 Nov 2010 10:35 AM PST

O'Reilly Automotive Inc. (NASDAQ:ORLY) reported its third quarter earnings for 2010 on October 27, 2010. The company has topped the Zacks Consensus Estimate by 12 cents per share and its own guidance of 69 cents–73 cents per share. The market reacted favorably, with share prices rising subsequent to the earnings release.
Analysts were highly optimistic given the company's impressive results and upgraded outlook as every one of them covering the stock had revised the estimates upward. Below we … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BofA And PNC Sell BlackRock Stake

Posted: 12 Nov 2010 10:35 AM PST

Bank of America Corporation (NYSE:BAC) and PNC Financial Services Group Inc. (NYSE:PNC) sold $8.3 billion of stock in the world’s largest money manager, BlackRock Inc. (NYSE:BLK), on November 9. The largest stakeholders of BlackRock disposed of their share as this was not vital to their main business.
Of the combined 51.1 million shares sold, the biggest public offering in the U.S. this year, BofA contributed 43.6 million and PNC the remaining. The shares were priced at $163 each.
BofA, which held 34% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD Makes Bearish Correction After Hitting 9-Month High

Posted: 12 Nov 2010 10:33 AM PST

Price action on EUR/USD (a daily chart of which is shown) as of Friday (11/12/2010) has made a bearish correction down to a key 38.2% Fibonacci retracement of the last major bullish run (from the late August low to the early November high). This correction occurs after price hit a 9-month high at 1.4280 just last week.

EUR/USD is still heavily entrenched within an unmistakable overall uptrend originating from the June lows. The corrections that have occurred thus far within this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Nov 2010 10:00 AM PST

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

GBP/USD was trading at 1.6129, up 0.04% 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.

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

European Markets Mixed At Close; Dax Up 0.17%

Posted: 12 Nov 2010 09:55 AM PST

Forex Pros – European stocks were mixed after the closing bell on Friday.

At the close of European trade, Germany's DAX rose 0.17%, London's FTSE 100 shed 0.32%, France's CAC 40 declined 0.94% and the EURO STOXX 50 was down 0.31%.

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 had expected GDP to rise 0.50% in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Steep Slide In Crude On European Debt Concerns

Posted: 12 Nov 2010 03:08 AM PST

11/12/10 There was a steep decline this session for crude prices following growing debt concerns for European … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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