Monday, November 29, 2010

DailyMarkets.com - UnitedHealth Reiterated As Neutral

DailyMarkets.com - UnitedHealth Reiterated As Neutral

UnitedHealth Reiterated As Neutral

Posted: 29 Nov 2010 09:35 AM PST

We are reiterating our recommendation on the shares of UnitedHealth Group (NYSE:UNH) at Neutral following third quarter results.
During the third quarter, UnitedHealth reported earnings of $1.14 per share, way ahead of the Zacks Consensus Estimate of 84 cents, benefiting primarily from lower medical utilization. Both its Health Services and Health Benefits segments performed well during the quarter.
UnitedHealth has seen an increase in medical membership by one million, including growth of 210,000 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pemex OKs New Contract Model

Posted: 29 Nov 2010 09:35 AM PST

Mexico's state oil monopoly Petroleos Mexicanos, or Pemex, announced the approval of a new contracting model that allows for the employment of private companies to operate Mexican oilfields on its behalf. Taking advantage of a two-year old legislation that permits foreign partnerships, Pemex's Board of Directors gave the nod for the tendering of new 'integrated service contracts' that seek to raise output from mature oilfields in Mexico’s southern region.     
The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Equity One Gains Site Approval

Posted: 29 Nov 2010 09:05 AM PST

Equity One Inc. (NYSE:EQY), a real estate investment trust (REIT) engaged in the ownership, management, and development of neighborhood and community shopping centers in the U.S., has recently obtained the site approval for the construction of  ‘The Gallery at Westbury Plaza’ – a 330,000 square feet retail center in New York.
Equity One will commence development work for the project in 2011, with a grand opening expected in Fall 2012. The Gallery at Westbury Plaza will be the latest … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests Key Fibo Support Again

Posted: 29 Nov 2010 08:59 AM PST

Key Intraday Range Levels For ES Futures And S&P 500

Posted: 29 Nov 2010 08:55 AM PST

I've been making note lately about the "range" between the 1,200 level in the S&P 500 as short-term resistance and 1,175 as the short-term support.

Let's now step into the futures market – including overnight levels – to see the current structure of the compressed range and what it means for intraday traders right now.

First, the broader 60-min @ES Futures Structure:

(Click for full-size image)

The broader structure shows us the 1,200 level as important … [visit site to read more] or compare Best Credit Cards and Best CD Rates

All Good Economic News, So Why Am I Bearish On Stock Market For 2011?

Posted: 29 Nov 2010 08:44 AM PST

Jobless claims in the U.S. declined to 407,000 last week, according to the Labor Department, the lowest level since July 2008. My take: The economy is clearly improving. If the jobless claims are falling, then the unemployment rate for November 2010 will fall. (President Obama and Fed Chairman Bernanke will be happy people when those November unemployment numbers come out!)

Consumer spending in the U.S. rose in October for a fifth consecutive month according to the Commerce Department. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

National Fiscal Hypocrisy Week

Posted: 29 Nov 2010 08:39 AM PST

Welcome to National Fiscal Hypocrisy Week.
Today (Monday), Congress takes up a measure delaying by one month a scheduled 23% cut in federal reimbursements to doctors. The cut will automatically go into effect unless Congress acts. But of course Congress will act. Doctors threaten to drop Medicare patients if their rates are cut. Congress has delayed scheduled Medicare cuts for years.
The best outcome would be an agreement to contain future health-care costs by allowing Medicare to use its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

School Specialty To Underperform

Posted: 29 Nov 2010 08:35 AM PST

We expect School Specialty Inc. (NASDAQ:SCHS), an education company offering supplemental educational products and equipment, to Underperform and set a price target of $11.00. Earlier, we had a Neutral recommendation on the stock.
The recent economic downturn has resulted in an uncertainty related to state budget funding levels in the school districts, which has led to a cautious spending approach. Consequently, School Specialty has been registering a sustained decline in the top line. A continued … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rowan Companies Stays Neutral

Posted: 29 Nov 2010 08:35 AM PST

We maintain our Neutral recommendation for Rowan Companies Inc. (NYSE:RDC) following better-than-expected third-quarter results. Revenue was up more than 11% year over year. The company is confident of adding backlog on several high-spec jackups in the near term. This was affirmed by the recent contract award for its first N-class jackup acquired as part of Skeie Drilling & Production ASA. 
With oil prices remaining strong and tendering activity on the rise, we expect the international … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LAN Acquires AIRES

Posted: 29 Nov 2010 08:35 AM PST

LAN Airlines S.A. (NYSE:LFL) formed an agreement to acquire 98.942% of the Colombian airline, AIRES S.A., for US$12 million in cash, in addition to the net liabilities of approximately US$100 million, including US$18 million of bank debt.
LAN will benefit from the geographical diversification. Moreover, LAN is well positioned to benefit from the global economic recovery, particularly from the emerging economies in Latin America.
The economic growth in the emerging markets will be higher than the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Halliburton Wins Shell Contract

Posted: 29 Nov 2010 08:15 AM PST

As per a popular Iraqi website, Halliburton Company (HAL) was awarded a one-year contract by Royal Dutch Shell Plc (RDS.A) and its associates for developing the Majnoon oilfield in southern Iraq. The announcement of the contract was first made in August.
Under the terms of the contract signed on November 22, Halliburton will set up operations for 15 new wells.
In 2009, Shell along with Petroliam Nasional Berhad ("Petronas"), the national oil company of Malaysia, signed a 20-year contract … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Teradata Wins New Customer

Posted: 29 Nov 2010 08:15 AM PST

A leading provider of Enterprise Data Warehousing (EDW) solutions, Teradata Corporation (NYSE:TDC) and SAS, the premier provider of business analytics software and services announced that INPS (Italy’s social security agency) has selected a combined Teradata and SAS enterprise data warehouse (EDW) and analytics system for healthcare-related fraud detection.
INPS has deployed Teradata and SAP AG's (NYSE:SAP) new system that includes software, hardware and services, which will help INPS fulfill the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DryShips Upgraded To Outperform

Posted: 29 Nov 2010 08:15 AM PST

We upgrade our recommendation to Outperform for DryShips Inc. (NASDAQ:DRYS), following its excellent third quarter of 2010 financial results, far ahead of the Zacks Consensus Estimates. The company's strategy to put vessels under long-term charters during the quarter to avoid volatility in the spot-market paid off, resulting in soaring net earnings.
DryShips is steadily transforming itself into a drillship company from a drybulk cargo operator. As a result both the top-line and bottom-line are … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Key ST Resistance At 10725

Posted: 29 Nov 2010 08:14 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: The Downside Prevails

Posted: 29 Nov 2010 08:14 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Market Brewing In Coffee Futures?

Posted: 29 Nov 2010 08:13 AM PST

Today’s Idea
With Coffee fundamentals starting to favor the bearish camp and a potentially bearish technical formation seen on the daily charts, some traders may possibly wish to explore bearish trading strategies using Coffee futures options. For example, with March Coffee trading at 202.70 as of this writing, one could sell a January Coffee 220.00 call for about 1.50 points, or $562.50 per option, not including commissions. The premium received would be the maximum potential gain on the trade … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: DE, WMT

Posted: 29 Nov 2010 08:03 AM PST

11/29/10 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

Forex – Dollar Broadly Higher Vs. Rivals As Contagion Fears Dent Risk

Posted: 29 Nov 2010 07:43 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major rivals on Monday, as risk aversion dominated market sentiment, spurring demand for the U.S. dollar as a safe haven.

During European afternoon trade, the greenback was sharply higher against the euro, with EUR/USD plunging 1.09% to hit 1.3095.

Concerns centered on speculation that the rescue fund created by the International Monetary Fund and the European Union could run out if either Spain or Portugal followed Ireland and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Hits Fresh 2-month Low As Risk Appetite Hit

Posted: 29 Nov 2010 07:36 AM PST

Forex Pros – The pound extended early losses against the U.S. dollar on Monday, tumbling to a fresh 2-month low as fears that Ireland's debt problems would spread to Portugal or Spain hit risk appetite.

GBP/USD hit 1.5529 during European afternoon trade, the pair's lowest since September 21; the pair subsequently consolidated at 1.5544, shedding 0.29%.

Cable was likely to find support at 1.5448, the low of September 15 and resistance at 1.5771, last Friday's high.

Earlier in the day, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Plunges To New 2-month Low On Contagion Fears

Posted: 29 Nov 2010 07:34 AM PST

Forex Pros – The euro was sharply lower against the U.S. dollar on Monday, tumbling to a new 2-month low as fears over sovereign debt contagion among peripheral euro zone nations decimated risk appetite.

EUR/USD hit 1.3064 during European afternoon trade, the pair's lowest since September 21; the pair subsequently consolidated at 1.3091, plummeting 1.11%.

The pair was likely to find support at 1.2828, the low of September 14 and resistance at 1.3361, last Friday's high.

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

Walmart To Buy 51% Stake In Massmart

Posted: 29 Nov 2010 02:31 AM PST

11/29/10 In a joint statement released on Monday, Walmart announced tthat it will buy a 51% stake in South Africa’s Massmart … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Plunge After The Open; Dow Jones Down 1.22%

Posted: 29 Nov 2010 07:31 AM PST

Forex Pros – U.S. stocks posted sharp losses after the open on Monday, as investors overlooked a bailout package for Ireland amid ongoing fears that Spain and Portugal could be the next euro zone nations to request assistance.

During early U.S. trade, the Dow Jones Industrial Average tumbled 1.22%; the S&P 500 index plunged 1.09%, while the Nasdaq Composite index plummeted 1.38%.

On Sunday, European Union finance ministers endorsed a EUR 85 billion loan package to shore up Ireland's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 11.29.10

Posted: 29 Nov 2010 06:36 AM PST

The morning news notes as prepared by TL…South Korea, Ireland, Germany faces tough choice as Spain wobbles, initial jobless claims from last week, Black Friday, Bush tax cuts, White House deficit reduction commission, inflation in emerging markets, and Fed to become more hawkish in 2011.

“Morning News Notes: November 29, 2010″

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

Corporate Profits: What The Current Level Tells Us About S&P 500 Returns Over The Next Five Years

Posted: 29 Nov 2010 06:23 AM PST

click to enlarge

By Seeking Delta of http://seekingdelta.wordpress.com
Last week, in his weekly market comment, John Hussman posted an interesting chart (see below) comparing the corporate profit to GDP ratio and the subsequent growth rate in corporate profits. I have previously posted on profit margins (see here and here) and will now further explore what profits margins at current levels imply about the next five years for the S&P 500 index.
But first a question: why is … [visit site to read more] or compare Best Credit Cards and Best CD Rates
at

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