Friday, November 26, 2010

DailyMarkets.com - Your Goal In 2011: As Ridiculous As It Sounds, Buy A Property

DailyMarkets.com - Your Goal In 2011: As Ridiculous As It Sounds, Buy A Property

Your Goal In 2011: As Ridiculous As It Sounds, Buy A Property

Posted: 26 Nov 2010 05:35 PM PST

Does anyone really care about the housing market anymore? The banks and developers that got stuck care. But the public doesn't and that's something I like.

Figures released Wednesday by the U.S. Commerce Department show that sales of new homes fell 8.1% in October to an annualized rate of 283,000—close to a 47-year low. Existing home sales did just as bad. According to the National Association of Realtors, sales of existing homes in the U.S. fell 26% in October 2010 from October … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CIGNA Incurs Higher Advocacy Costs

Posted: 26 Nov 2010 02:35 PM PST

In an effort to reshape regulation, health insurer CIGNA Inc. (NYSE:CI) is reported to have spent $300,000 in the third quarter of 2010, up 15% from $260,000 in the prior-year quarter. The spending was, however, down 25% from $400,000 in the previous quarter.
Philadelphia-based managed care company CIGNA lobbied on issues related to the Patient Protection and Affordable Care Act (PPACA) Medicare Advantage and Part D prescription drug programs.
The PPACA was signed into law by President Obama on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CIGNA Incurs Higher Advocacy Costs

Posted: 26 Nov 2010 02:35 PM PST

In an effort to reshape regulation, health insurer CIGNA Inc. (NYSE:CI) is reported to have spent $300,000 in the third quarter of 2010, up 15% from $260,000 in the prior-year quarter. The spending was, however, down 25% from $400,000 in the previous quarter.
Philadelphia-based managed care company CIGNA lobbied on issues related to the Patient Protection and Affordable Care Act (PPACA) Medicare Advantage and Part D prescription drug programs.
The PPACA was signed into law by President Obama on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sept. Leading Indicators: Three Up, One Down

Posted: 26 Nov 2010 02:12 PM PST

The Conference Board reported this week that Leading Indicators increased in September for:

1. France by 0.8%.

2. Germany by 0.3%.

3. Mexico by 0.6%.

But decreased in September for

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

Arrow Acquires Intechra

Posted: 26 Nov 2010 02:05 PM PST

Electronics parts distributor Arrow Electronics, Inc. (NYSE:ARW) recently announced that it would acquire Intechra. Headquartered in Jackson, Mississippi, Intechra provides comprehensive end-to-end IT asset disposition services.
Intechra's services include legislative compliance, data security and destruction, risk management, redeployment, remarketing, lease return, logistics management, and environmentally responsible recycling of all types of information technology. Intechra provides fully … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genworth Repays Outstanding Debt

Posted: 26 Nov 2010 02:05 PM PST

Genworth Financial (NYSE:GNW) repaid the outstanding borrowings under its five-year revolving credit facilities. The outstanding amount of $480 million constituted $240 million of outstanding borrowings under each of the two facilities.
The company repaid the debt from the proceeds from sale of senior notes offered by the company on November 17 along with cash in hand. The 10-year senior notes worth $400 million carried a coupon of 7.20%.
A.M. Best Co.assigned "bbb" rating to the senior … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down At The End Of U.S. Session

Posted: 26 Nov 2010 02:00 PM 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 0.17% to hit 0.8492 and EUR/JPY falling 0.32% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Lower; Dow Jones Down 0.85%

Posted: 26 Nov 2010 02:00 PM PST

Forex Pros – U.S. stocks were down after the closing bell on Friday.

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.85%, the S&P 500 index shed 0.75%, while the Nasdaq 100 index declined 0.31%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 0.84%; Germany's DAX shed 0.45%; Britain's FTSE 100 declined 0.53%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 26 Nov 2010 01:55 PM PST

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

GBP/USD was trading at 1.5594, down 1.05% at time of writing.

The pair was likely to find support at 1.5578, today's low, and resistance at 1.6084, Monday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.17% to hit 0.8492 and GBP/JPY falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NRG Energy Lowers Guidance

Posted: 26 Nov 2010 01:35 PM PST

Energy generation company NRG Energy Inc. (NYSE:NRG) announced a downward revision of its 2011 guidance due to the exclusion of 3,884 megawatts (MW) of gas assets in California and Maine from its generation fleet. The exclusion was due to the rejection by Dynegy Inc.’s (NYSE:DYN) shareholders of Blackstone Group L.P.’s (NYSE:BX) buyout offer, a portion of which was to be bought by NRG Energy.
The Blackstone buyout offer included a separate agreement by which a portion of Dynergy generation assets were … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Good News For Hologic

Posted: 26 Nov 2010 01:35 PM PST

Hologic (NASDAQ:HOLX) has taken a step forward to get its Selenia Dimensions three-dimensional (3D) digital mammography tomosynthesis system approved in the US. Recently, the company received an approvable letter from the US Food and Drug Administration (FDA) for Selenia. However, the company is yet to receive the final approval, which is subject to inspection of its manufacturing facility.  
Selenia has been developed on the Dimensions platform utilizing tomosynthesis technology to produce … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Broadridge To Acquire Matrix

Posted: 26 Nov 2010 01:35 PM PST

New York-based global outsourcing service provider Broadridge Financial Solutions Inc. (NYSE:BR) inked a deal to acquire financial services provider Matrix Financial Solutions Inc. for a cash consideration of roughly $201.0 million. The deal is expected to close before the end of the calendar year.
Denver, Colorado-based, Matrix Financial Solutions provides back-office, trust, custody, trading and mutual fund settlement services to banks, trust companies, registered investment advisors and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Weekly Rail Freight Continues To Post Gains

Posted: 26 Nov 2010 01:28 PM PST

“The Association of American Railroads today reported for the week ending Nov. 20, 2010, U.S. freight railroads continue to post weekly rail traffic gains, originating 297,990 carloads, up 3.9% compared with the same week last year. Intermodal traffic for the week totaled 235,999 trailers and containers, up 10.6% compared with the same week in 2009, with container volume up 11.7% and trailer volume up 5.2% (see … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Marsh & McLennan Acquires Hammond

Posted: 26 Nov 2010 01:05 PM PST

Focusing on alternatives investment, yesterday Marsh & McLennan Companies Inc.(NYSE:MMC) entered into a definitive agreement to purchase Hammond Associates, the third largest investment consulting company for endowments and foundations in the US, for an undisclosed amount. The deal is expected to close by the end of 2010 subject to regulatory approvals, although other terms are yet to be revealed.
Accordingly, post acquisition, Hammond will be merged with the operations of Marsh & … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ford Cuts Nearly $2 Billion In Debt

Posted: 26 Nov 2010 01:05 PM PST

Ford Motor Co. (NYSE:F) has reduced its debt by more than $1.9 billion by swapping its investor's notes for shares. The investors converted $554 million of the company's 4.25% Senior Convertible Notes due December 15, 2036 and $1.992 billion of its 4.25% Senior Convertible Notes due November 15, 2016.
In exchange, Ford paid $534 million in cash premiums and issued 274 million shares of its common stock to the convertible note holders. The conversion offer will result in a special item charge … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wynn Resorts Remains Neutral

Posted: 26 Nov 2010 12:35 PM PST

We maintain our Neutral recommendation on Wynn Resorts Limited (NASDAQ:WYNN), a renowned developer and operator of high-end hotels and casinos.
The company, based in Paradise – Nevada, reported third quarter 2010 earnings, below the Zacks Consensus Estimate, but results improved on a year-over-year basis, driven by higher-than-expected revenues. Net revenues surged 30.1% year over year and also outpaced the Zacks Consensus Estimate due to solid results at its Macau operations.
Net revenues … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Upgrading Autodesk To Outperform

Posted: 26 Nov 2010 12:35 PM PST

We upgrade Autodesk Inc. (NASDAQ:ADSK) to Outperform from our previous Neutral recommendation, given our long-term confidence about ADSK's growth opportunities.
Over the long term, we remain positive on the stock, given its operating margin leverage, strong revenues due to stability in end market,increased demand for 3D products, expanding market share, a diversified product pipeline and cost-cutting initiatives.
Autodesk's business outlook is improving with an expectation for potential revenue … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RRD Completes Bowne Merger

Posted: 26 Nov 2010 12:05 PM PST

R.R. Donnelley & Sons Company (NYSE:RRD) confirmed that it has completed the acquisition of Bowne & Co. Inc. (NYSE:BNE) as announced on February 23, 2010. 
R.R. Donnelley acquired Bowne & Co. for approximately $487.0 million in cash, or $11.50 per share. The offer price of $487 million represented a 65.0% premium to Bowne's closing price of $6.97 on February 23. The acquisition of Bowne will be accretive to R.R. Donnelley’s earnings in the first full year after the close of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GM Invests In Three U.S. Plants

Posted: 26 Nov 2010 12:05 PM PST

General Motors Corporation (NYSE:GM) has announced that it will invest $163.2 million in its Flint and Bay City plants in Michigan and Defiance plant in Ohio in order to boost engine production for its Chevrolet lineups including Chevrolet Volt, Chevrolet Cruze and a new Chevrolet small car. The investment will secure 184 jobs at the plants.
The automaker will invest $138.3 million in Flint engine operations protecting 135 jobs, $12.7 million in the Bay City components plant saving 8 jobs, and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Extends Decline As Forex Traders Focus Their Attention On Portugal

Posted: 26 Nov 2010 11:45 AM PST

Thursday's session was relatively quiet as US banks and stock market were closed, depriving the market of liquidity. As we head into the weekend though, our familiar stories for this week resurfaced as traders speculate on Portugal being the next domino to drop in the Euro-zone sovereign debt crisis and we saw tensions high on the Korean peninsula. The US Dollar – playing its role as a safe harbor in times of stress – rallied on both developments.

Euro Extends its Decline as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Citi To Boost European Retail Ops

Posted: 26 Nov 2010 11:35 AM PST

Citigroup Inc. (NYSE:C) is planning to restructure its retail presence in Europe, according to a report in Financial Times. As reported, the company is looking forward to rebuilding a network of flagship outlets for strengthening its operations in major Western European cities next year. 
The network is expected to be built across almost 100 cities around the world with 10 to 15 of them in Western Europe. Wealthy customers who travel very often are targeted. The flagship outlets of Citi would … [visit site to read more] or compare Best Credit Cards and Best CD Rates

T. Rowe Upgraded To Outperform

Posted: 26 Nov 2010 11:35 AM PST

We have upgraded our recommendation on T. Rowe Price Group Inc. (NASDAQ:TROW) to Outperform from Neutral based on its above-average organic growth rate, strong debt-free balance sheet and robust earnings.
T. Rowe Price's third quarter 2010 earnings came in at 64 cents per share, significantly up from 50 cents in the prior-year quarter. Results also outpaced the Zacks Consensus Estimate of 60 cents.
The results were primarily supported by better-than-expected top-line growth and increased assets … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Juniper Products Reach Saudi

Posted: 26 Nov 2010 11:35 AM PST

Juniper Networks Inc. (NASDAQ:JNPR), one of the leading providers of networking infrastructure products and services, announced that its entire suite of network infrastructure (switching, routing and security solutions) products is being used by the Kingdom of Saudi Arabia’s Ministry of Communications and Information Technology (MCIT). Financial terms of the deal have not been disclosed.
With the help of Juniper's networking products, MCIT is setting up an improved networking system and data … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Juniper Products Reach Saudi

Posted: 26 Nov 2010 11:35 AM PST

Juniper Networks Inc. (NASDAQ:JNPR), one of the leading providers of networking infrastructure products and services, announced that its entire suite of network infrastructure (switching, routing and security solutions) products is being used by the Kingdom of Saudi Arabia’s Ministry of Communications and Information Technology (MCIT). Financial terms of the deal have not been disclosed.
With the help of Juniper's networking products, MCIT is setting up an improved networking system and data … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: DLM, F

Posted: 26 Nov 2010 11:33 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 4:00 pm EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GENZ Meets Consent Decree Deadline

Posted: 26 Nov 2010 11:05 AM PST

Genzyme Corporation (NASDAQ:GENZ) recently announced that it achieved the first milestone under the consent decree implemented by the US Food and Drug Administration (FDA). The company said that it has successfully transferred fill/finish operations for certain products from its Allston Landing plant to its Waterford plant in Ireland and to contract manufacturer Hospira (NYSE:HSP).
The company transferred fill/finish operations for Cerezyme, Myozyme, Fabrazyme and Thyrogen sold in the US. Genzyme also … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The U.S. Session

Posted: 26 Nov 2010 11:00 AM PST

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

EUR/USD was trading at 1.3236, down 0.92% 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 down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.01% to hit 0.8478 and EUR/JPY falling 0.41% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Rise Continues On Global Debt Concerns

Posted: 26 Nov 2010 10:54 AM PST

11/26/10 The US dollar continued to slide this session following growing speculation that Portugal is next to request assistance with debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Declines On Dollar Rally

Posted: 26 Nov 2010 05:46 AM PST

11/26/10 Another rise in the US dollar has paved the way for another decline in crude prices to close the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Simon Bids For Capital Shopping

Posted: 26 Nov 2010 10:35 AM PST

Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), has recently made a $3.6 billion acquisition offer for Capital Shopping Centers Group Plc (CSCG.L), the largest shopping center operator in the U.K. Following the offer, Capital Shopping share prices surged 13% on the London Stock Exchange – the highest since it began trading as a public company in 1992.
The offer was disclosed when Capital Shopping announced an agreement to buy the Trafford Centre shopping mall … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Monster Climbs Up As Claims Fall

Posted: 26 Nov 2010 10:35 AM PST

Shares of Monster Worldwide Inc (MWW) surged 9.61% in regular trading on November 24 as jobless claims in the US declined by 34,000 to 407,000.
According to the Labor Department, approximately 407,000 workers filed new applications for unemployment benefits last week, the lowest in over two years.
Monster is an online recruitment firm of the parent company Monster.com, the leading career website in the world. Monster works by connecting employers with quality job seekers at all levels and by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During The U.S. Session

Posted: 26 Nov 2010 10:35 AM PST

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

AUD/USD was trading at 0.9630, down 1.81% at time of writing.

The pair was likely to find support at 0.9613, today's low, and resistance at 0.9954, Monday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.88% to hit 1.3742 and AUD/JPY falling 1.33% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Friday’s Forex Roundup For US Dollar Index, UUP And EUR/USD

Posted: 26 Nov 2010 10:15 AM PST

The US Dollar Index (DXY) cleared the psychological 80 level on the third attempt in as many days. The key 61.8% retracement was reached before consolidation took hold. The 200-day moving average is now targeted while price-action remains supported by last week’s swing high of 79.461. Meanwhile, the Powershares Bullish US Dollar Index ETF (UUP) has cleared 23 resistance to bring the 24 level into focus.

The EUR/USD failed to reclaim the 1.3446 former support region, leading to a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Del Monte To Be Acquired

Posted: 26 Nov 2010 10:05 AM PST

Del Monte Foods Company (NYSE:DLM) has agreed to be acquired by a consortium formed by pooling funds from Kohlberg Kravis Roberts & Co. (KKR), Vestar Capital Partners and Centerview Partners. Per the agreement signed, the consortium will acquire Del Monte for $5.3 billion or $19.00 per share in cash. The transaction price includes assumption of approximately $1.3 billion in net debt.
According to the agreement Del Monte can solicit alternative proposals from third parties through January 8, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GOL’s New Destination

Posted: 26 Nov 2010 10:05 AM PST

Brazil's largest low-fare airline operator, GOL Linhas Aereas Inteligentes S.A. (NYSE:GOL) has introduced new flights to the city of Aeroparque Jorge Newbery, in Buenos Aires, Argentina.
GOL has been continuously increasing the frequency of flights to the existing high-demand markets and adding new routes. Recently, it initiated a couple of flights from Brasilia to the Caribbean. This initiative stems from improving market conditions, which have also bolstered passenger traffic.
GOL is expected … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CEG Gets Consent For Asset Purchase

Posted: 26 Nov 2010 10:05 AM PST

Constellation Energy Group Inc. (NYSE:CEG) received a regulatory approval from the United States Bankruptcy Court for the Southern District of New York approving its acquisition of the generation assets of Boston Generating LLC, a unit of privately held US Power Generating Company.
The $1.1 billion transaction although finalized in August 2010, was held up due to the approval of the court as part of U.S. Power Generating's ongoing bankruptcy proceedings. However, the final regulatory approval … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The U.S. Session

Posted: 26 Nov 2010 10:00 AM PST

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

NZD/USD was trading at 0.7500, down 1.32% at time of writing.

The pair was likely to find support at 0.7480, today's low, and resistance at 0.7836, Monday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and down against the Euro, with AUD/NZD shedding 0.36% to hit 1.2858 and EUR/NZD rising 0.47% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Lower; Dax Down 0.45%

Posted: 26 Nov 2010 09:55 AM PST

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

At the close of European trade, Germany's DAX fell 0.45%, London's FTSE 100 shed 0.53%, France's CAC 40 declined 0.84% and the EURO STOXX 50 was down 1.02%.

Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 0.78%; the S&P 500 index shed 0.64%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 26 Nov 2010 09:30 AM PST

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

GBP/USD was trading at 1.5616, down 0.91% at time of writing.

The pair was likely to find support at 1.5591, today's low, and resistance at 1.6084, Monday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.04% to hit 0.8475 and GBP/JPY falling 0.36% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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