Monday, November 1, 2010

DailyMarkets.com - Why It Pays To Use Your Discover Credit Card In Supermarkets In November

DailyMarkets.com - Why It Pays To Use Your Discover Credit Card In Supermarkets In November


Why It Pays To Use Your Discover Credit Card In Supermarkets In November

Posted: 01 Nov 2010 07:38 AM PDT

If you have a Discover credit card and are aware of the Discover Everyday Giveaway that is taking place this year whereby you can win up to $1,000,000 in the final lucky draw, then you might be interested in what's coming next.

For this month of November, the Featured Category is Grocery and Drug Stores. So each time you make a purchase in a grocery or drug store in November, you will get 4 bonus entries to the daily lucky draw instead of the 1 entry you normally get each time you make a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Eases Off Fresh 15-year Low After Upbeat U.S. PMI

Posted: 01 Nov 2010 07:16 AM PDT

Forex Pros – The yen briefly touched a fresh 15-year high against the U.S. dollar on Monday, before pulling back after the release of better-than-expected data on the U.S. manufacturing sector.

USD/JPY hit 80.25 during European afternoon trade, the pair's lowest since April 19, 1995; the pair subsequently consolidated at 80.53, gaining 0.17%.

The pair was likely to find support at 79.75, the low of April 19 1995 and the all-time low and resistance at 81.97, the high of October … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. ISM Manufacturing PMI Rises Unexpectedly

Posted: 01 Nov 2010 07:06 AM PDT

Forex Pros – Manufacturing activity in the U.S. rose unexpectedly in October, industry data showed on Monday.

In a report, the Institute for Supply Management said its index of purchasing managers increased to 56.9 in October, after falling to 54.4 in September.

Analysts had expected the index of purchasing managers to fall to 53.6 in October.

On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

The report also showed that the ISM index of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


OfficeMax Remains Cautious

Posted: 01 Nov 2010 07:05 AM PDT

Despite posting better-than-expected third-quarter 2010 results, OfficeMax Inc. (NYSE:OMX) forecasted soft sales for fourth-quarter and fiscal 2010, as it remains cautious about the macroeconomic environment and sluggish job market.
Quarterly Discussion
The quarterly earnings of 23 cents a share beat the Zacks Consensus Estimate of 12 cents, and portrayed a strong turnaround from 8 cents earned in the prior-year quarter, on the heels of effective cost and inventory management that offsets the fall … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Maxim Has Good Q1, Outlook Murky

Posted: 01 Nov 2010 07:05 AM PDT

Maxim Integrated Products' (MXIM) first quarter earnings excluding special items and including stock-based compensation expenses beat the Zacks Consensus by 6 cents. Revenue was also slightly ahead of our expectations, beating by 1.8%.
Revenue
Maxim's first quarter revenue of $626.1 million was up 10.6% sequentially, 39.4% year over year and toward the high end of management's guidance range of $600−$630 million, or up 6%−11% sequentially. Revenue growth was fairly broad-based … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Humana Exceeds, Ups EPS Outlook

Posted: 01 Nov 2010 07:05 AM PDT

Humana Inc. (NYSE:HUM) reported its third-quarter earnings (excluding special items) of $2.01 per share, well ahead of the Zacks Consensus Estimate of $1.67. This also compares favorably with earnings of $1.78 in the year-ago quarter.
Further, the adjusted earnings surpassed management's guidance of $1.65-$1.75. The better-than-expected showing was attributable to a strong performance at Humana's Government segments along with improvement in the Commercial segment, helped by increased … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: Arch Coal, Baker Hughes Incorporated, CNA Financial, Cooper Tire & Rubber Company, Corning Incorporated, Humana, Loews, Motorola, Simon Property Group, Apple, EBay, Smurfit-Stone Container Corporation

Posted: 01 Nov 2010 07:05 AM PDT

 Baker Hughes (NYSE:BHI) posted third quarter earnings of $0.54, $0.07 better-than-expected, on an 83% revenue surge to $4.1 billion, up from Street estimates of $3.8 billion

 Humana (NYSE:HUM) beat estimates by $0.35 with third quarter adjusted earnings of $2.01, versus estimates of $1.66, on an inline, 9.2% revenue increase to $8.4 billion

 Corning (NYSE:GLW) reported third quarter earnings of $0.51, off by one penny, on in-line revenues of $1.6 billion, a 6.4% YoY … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Tries Rotation To The Upside.

Posted: 01 Nov 2010 06:57 AM PDT

The EURUSD held support against the 200 hour MA on 4 separate occassions over the last 20 or so hours. It will be watched as support going … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stocks Advance After The Open; Dow Jones Gains 0.83%

Posted: 01 Nov 2010 06:53 AM PDT

Forex Pros – U.S. stocks were higher after the open on Monday, as strong corporate earnings reports boosted markets and overshadowed downbeat data on consumer spending and inflation. 

During early U.S. trade, the Dow Jones Industrial Average gained 0.83%; the S&P 500 index rose 0.79%, while the Nasdaq Composite index was up 0.95%.

Earlier in the day, official U.S. data showed that personal spending rose less-than-expected in September, while personal income fell unexpectedly. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Big Week For The US Dollar

Posted: 01 Nov 2010 06:47 AM PDT

Huge week for financial markets as several Central Banks will be having their meetings along with elections in the US – some leading economic data is also due out this week (just in case you have not heard). All together, the week should make for some directionless volatility. We suspect that the highlight of the week, the FOMC meeting, will underwhelm the market regarding the size and scope of QE2.

While the initial injection will likely fall short of expectations, incremental … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Real Consumer Spending In September Bounces Back To Pre-Recession Level Of $9.35 Billion

Posted: 01 Nov 2010 06:47 AM PDT

The BEA reported today that real personal consumption expenditures reached $9.349 billion in September, the highest level of U.S. consumer spending since the recession started in December 2007, 33 months ago (see chart above).  On a year-over-year basis, September’s 2.3% increase in consumer spending was the largest percentage increase in three years, since September of 2007 (see bottom chart above). … [visit site to read more] or compare Best Credit Cards and Best CD Rates


BJ’s Upgraded To Outperform

Posted: 01 Nov 2010 06:31 AM PDT

We are upgrading our rating on California-based BJ’s Restaurants Inc. (NASDAQ:BJRI) to Outperform from Neutral. The rating was upgraded on a host of factors including strong third quarter results, unit expansion, and positive same-store sales growth as well as a revival in underperforming markets.
BJ's owns and operates a chain of high-end casual dining restaurants in the United States that serves its signature deep-dish pizzas, salads, sandwiches, burgers, pastas, steaks, and its own hand-crafted … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Verizon Upgraded On Solid 3Q

Posted: 01 Nov 2010 06:20 AM PDT

We are upgrading our recommendation on Verizon Communications (NYSE:VZ), the second largest U.S. phone company, to Neutral from Underperform. The improvement is based on solid third quarter results as well as strong future growth prospects for the company.
Verizon reported stronger-than-expected earnings in the third quarter and surpassed the Zacks Consensus Estimate. Continued strength in Wireless, FiOs and strategic business services fuelled the earnings growth. Total revenue also improved … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Swiss Franc: Under Pressure

Posted: 01 Nov 2010 06:18 AM PDT

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


Japanese Yen: The Downside Prevails

Posted: 01 Nov 2010 06:18 AM PDT

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


British Pound: Under Pressure

Posted: 01 Nov 2010 06:18 AM PDT

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


Euro: Under Pressure

Posted: 01 Nov 2010 06:18 AM PDT

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


Forex – EUR/USD Pares Losses After Weak U.S. Inflation Data

Posted: 01 Nov 2010 06:13 AM PDT

Forex Pros – The euro pared losses against the U.S. dollar on Monday, following the release of disappointing U.S. data on inflation and consumer spending.

EUR/USD hit 1.3932 after retreating from a daily low of 1.3894 during European afternoon trade, shedding 0.09%.

The pair was likely to find support at 1.3763, last Thursday's low and resistance at 1.4079, the high of October 25.

Earlier in the day, the U.S. Bureau of Economic Analysis said its seasonally adjusted core personal … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Highed Education Bubble Update: A Public University Joins The Expanding $50K Club

Posted: 01 Nov 2010 06:07 AM PDT

Chronicle of Higher Education — “The ranks of the most expensive colleges have grown again: 100 institutions are charging $50,000 or more for tuition, fees, room, and board in 2010-11, according to a Chronicle analysis of data released last week by the College Board (see the top 20 above). That’s well above the 58 universities and colleges that charged that much in 2009-10, and a major jump from the year before, when only five colleges were priced over $50,000.

This year marks a milestone … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Patterson-UTI Trumps Forecast

Posted: 01 Nov 2010 06:06 AM PDT

Onshore contract driller Patterson-UTI Energy Inc. (NASDAQ:PTEN) reported better-than-expected third-quarter results, reflecting strong land drilling margins and robust pressure pumping activity.
Earnings per share excluding financing costs came in at 21 cents, well ahead of the Zacks Consensus estimate of 18 cents. In the year-ago period, the company lost 12 cents.
Quarterly revenue of $378.7 million was up 137.2% from the year-earlier level and was 4.9% above our projection.
Rig Count … [visit site to read more] or compare Best Credit Cards and Best CD Rates


TC PipeLines Beats, Net Rises

Posted: 01 Nov 2010 06:06 AM PDT

TC PipeLines L.P. (TCLP ) , a master limited partnership ("MLP"), announced better-than-expected third-quarter 2010 results, reflecting strong contributions from the Northern Border and Great Lakes systems.
The partnership reported earnings per unit (EPU) of 82 cents, comfortably ahead of the Zacks Consensus Estimate of 55 cents and the year-ago profit of 65 cents.
Distribution Raised
Importantly, TC PipeLines raised its third quarter 2010 cash distribution to 75 cents per unit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Core PCE Price Index Unexpectedly Flat

Posted: 01 Nov 2010 05:37 AM PDT

Forex Pros – The U.S. core personal consumption expenditure index was unexpectedly flat in September, official data showed on Monday.

In a report, the Bureau of Economic Analysis said its seasonally adjusted core CPE price index was flat at 0.0% in September, down from 0.1% in August.

Analysts had expected the core personal consumption expenditure index to rise by 0.1% in September.

The report also said that personal spending rose less-than-expected in September, rising by a seasonally … [visit site to read more] or compare Best Credit Cards and Best CD Rates


RightNow Beats Zacks Consensus

Posted: 01 Nov 2010 05:36 AM PDT

RightNow Technologies Inc (NASDAQ:RNOW) reported earnings from continuing operations of 9 cents per share for the third quarter of 2010, exceeding the Zacks Consensus Estimate of 7 cents. Total revenues for the quarter were $48.6 million, up 25% year over year.
Recurring revenue, a key measure of growth, increased 30% over the year-ago quarter, and this growth rate is amongst the highest among the software-as-a-service (SaaS) vendors. Professional service revenue was approximately $10 million for … [visit site to read more] or compare Best Credit Cards and Best CD Rates


AGNC Reports Modestly

Posted: 01 Nov 2010 05:36 AM PDT

American Capital Agency Corp. (NASDAQ:AGNC), a real estate investment trust (REIT) that focuses on investments in mortgage pass-through securities and collateralized mortgage obligations (CMOs), reported earnings of $1.69 per share during third quarter 2010, compared to $1.82 in the year-earlier quarter. Excluding non-recurring items, recurring net income for the reported quarter was $1.11 per share.
The company recorded an annualized return on equity of 27.9% for the quarter. As of September 30, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market Valuation November 1st 2010

Posted: 01 Nov 2010 05:30 AM PDT

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


Gordon Tullock Makes The Case For Not Voting

Posted: 01 Nov 2010 05:29 AM PDT

 
In a heretical, irreverent look at voting, George Mason economist Gordon Tullock explains in this video why he doesn’t vote, and why he believes you’re better off avoiding the polls altogether on Election Day.

“It’s more likely that you’ll get killed driving to the polling booth, than it is that your vote will change the outcome of the election.”

But what if nobody voted? Professor Tullock … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Mixed As U.S. Consumer Spending Data Eyed

Posted: 01 Nov 2010 05:11 AM PDT

Forex Pros – The U.S. dollar was mixed against the other major currencies on Monday as strong Chinese manufacturing data and continuing uncertainty over further monetary easing by the Federal Reserve weighed on the currency.

During European early afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.11% to hit 1.3929.

The greenback was also up against the yen and the Swiss franc with USD/JPY rising 0.03% to hit 81.42 with USD/CHF climbing 0.64% to hit 0.9885. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Henry Schein Beats, Narrows Guidance

Posted: 01 Nov 2010 05:06 AM PDT

Henry Schein (NASDAQ:HSIC) reported an EPS of 94 cents in the third quarter of fiscal 2010, surpassing the Zacks Consensus Estimate of 87 cents. The EPS was also 17.5% higher than the year-ago period's adjusted EPS of 80 cents. Without considering a one-time benefit of 23 cents, EPS for the third quarter of 2009 was $1.03. The company reported a 14.1% rise in net sales to reach $1.9 billion, consisting of a 16.4% growth in local currency offset by a 2.3% decline associated with foreign … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Honeywell Sells Auto Sensor Business

Posted: 01 Nov 2010 05:06 AM PDT

Honeywell International (NYSE:HON) has agreed to sell its auto sensor products portfolio for $140 million to Sensata Technologies (ST). The transaction is expected to be completed in early 2011. The business line, a part of Honeywell’s Sensing and Control Unit, is not a core area of the company's focus and is being sold to streamline operations.
Sensata Technologies is an industrial technology company that designs, manufactures and sells sensors and control equipment.
Honeywell’s attractive … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.K. PMI Maufacturing Tops Expectations, GBPUSD Bullish Trend Remains Intact

Posted: 01 Nov 2010 04:45 AM PDT

        

Fundamental Headlines
• Stocks Face Dark Side of Gridlock in Capital – Wall Street Journal
• China, India Manufacturing Surge – Wall Street Journal
• Dollar Advances Ahead of Fed Policy Meeting – Financial Times
• Thirty-Three Hour Race May Induce ECB Surrender on Weak Dollar – Bloomberg
• Currency Swings Show G-20 Faith Fading as Korea Eyes Controls – Bloomberg
GBPUSD: PMI manufacturing in the U.K. topped expectations during the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Major Moves Oct: Assets Grow, Focus On Active Bond ETFs

Posted: 01 Nov 2010 04:00 AM PDT

The S&P500 was up 3.69% in the month of October, continuing the strong returns from the stellar month in September when the S&P was up nearly 9%. The NASDAQ surpassed the S&P numbers to deliver 5.86% returns for October. The market continued to rally as the US Fed essentially confirmed for the markets on several occasions that QE2 is going to happen, it's more a matter of when and how much.
In Active ETF land, October was a month of more new product filings from current issuers … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – NZD/USD Soars To 27-month High Ahead Of FOMC Meting

Posted: 01 Nov 2010 03:48 AM PDT

Forex Pros – New Zealand's dollar was up against its U.S. counterpart on Monday, soaring to a 27-month high ahead of a two-day meeting of Federal Reserve policymakers.

NZD/USD hit 0.7681 during European morning trade, the pair's highest since July 17, 2008; the pair subsequently consolidated at 0.7672, gaining 0.11%.

The pair was likely to find support at 0.7510, Friday's low and resistance at 0.7759, the high of July 17, 2008.

Earlier in the day, a report by ANZ Bank showed that New … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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