DailyMarkets.com - Boost For BMRN Pipeline

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• Boost For BMRN Pipeline
• Kodak’s Product Launch
• Phrase Of The Day: Frugality Fatigue
• Morgan Stanley Sells CICC Stake
• Rating Actions On Manulife
• USD Down After US Jobs Report
• “Long Term..numbers Going In Right Direction”
• Goldman To Sell Mortgage Unit?
• Toll Brothers Beats By High Margin
• DirecTV Predicts Stronger Growth
• Treasury Gets $1.8B From GM
• Cogent A Part Of 3M Now
• Forex Trading: EURUSD Also Tests Trendline Resistance At 1.3412
• California Consumes More Oil Than China: Fact Or Market Manipulation?
• Forex Trading: AUDUSD Approaches Resistance. RBA Decision And Comments Next Week
• EUR/USD – Continues Upside Correction After Non-Farm Payrolls
• ProLogis Leases Big In The U.S.
• Apache Offers Bonds To Get Funding
• Forex Trading: GBPUSD Tests Upside Target From Bull Flag
• Salix Stays Neutral
• An Update On Alexza Pharma (ALXA)
• Costco Sustains Sales Momentum
• Australian Dollar: Bullish Bias Above 9825
• Canadian Dollar: Rebound In Sight
• Lincoln Electric Hikes Dividend
• Big Lots Misses By A Penny
• Merck Strikes Deal With SmartCells
• Nicor Looking For Suitors?
• CIGNA To Buy Back Notes
• The American Jobs Emergency Requires Action
• Forex Trading: GBPUSD Bull Flag?
• Schumpeterian Creative Destruction In IT
• Forex Trading: EURUSD Tests 100 Day MA At 1.3327
• Opening Bell Market Monitor: BIG, WLT, PAY
• Still About The Dollar

Boost For BMRN Pipeline Posted: 03 Dec 2010 11:35 AM PST Recently, BioMarin Pharmaceutical Inc.'s (NASDAQ:BMRN) pipeline received a boost with the UK regulatory body, the Medicines and Healthcare Products Regulatory Agency (MHRA) completing the scrutiny of the clinical trial application (CTA) for BMN 673 for treating patients suffering from genetically-defined cancers. The agency subsequently issued a notice of acceptance for the candidate.  The company intends to move the candidate into a phase I/II study by the first quarter of next year. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Kodak’s Product Launch Posted: 03 Dec 2010 11:35 AM PST Eastman Kodak Company (NYSE:EK) introduced PYNK Smart Print System at 5,000 CVS/pharmacy stores worldwide. The PYNK Smart Print System will help print photos in a manner so that they exactly fit the frames. It will facilitate in removing problems in the collage photo frame products and will help in cutting and sizing the photos with proper images to perfectly fit-in the desired photo frames. Kodak carries out numerous expansion programs and continuously launches new products at competitive prices; … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Phrase Of The Day: Frugality Fatigue Posted: 03 Dec 2010 11:12 AM PST WSJ — “Retailers’ reports of robust November sales offered more evidence that the lackluster U.S. economy may finally be gaining momentum, despite stubbornly high unemployment. After several years of relative thrift, consumers may be parting with their money more willingly simply due to pent-up demand, something industry watchers are calling “frugality … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morgan Stanley Sells CICC Stake Posted: 03 Dec 2010 11:05 AM PST Morgan Stanley (NYSE:MS) has received approval from the Chinese regulators to sell its 34.3% stake in China International Capital Corp. ("CICC") to Kohlberg Kravis Roberts & Co., TPG Capital, Singapore's Great Eastern Holdings Ltd. and Government of Singapore Investment Corp., Bloomberg reported on Wednesday. The entire stake is valued at about $1 billion. Morgan Stanley has been involved with CICC for about 15 years. Though the company had attempted to dispose of its holding in CICC for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rating Actions On Manulife Posted: 03 Dec 2010 11:05 AM PST The issuer credit ratings (ICR) and debt ratings of  Manulife Financial Corporation (NYSE:MFC) have been lowered to "a-" from "a" by A.M. Best Co. The rating agency has also downgraded the ICR and debt ratings to "a-" from "a" of The Manufacturers Investment Corporation, a subsidiary of Manulife Financial. Also, A.M. Best Co. has lowered the ICR to "aa-" from "aa" but reiterated the financial strength rating (FSR) of A+ (Superior) of Manufacturers Life Insurance … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD Down After US Jobs Report Posted: 03 Dec 2010 11:04 AM PST 12/03/10 The USD traded lower, following the disappointing November employment report. EUR/USD extended gains by over … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Long Term..numbers Going In Right Direction” Posted: 03 Dec 2010 05:47 AM PST 12/03/10 DME Securities’ Alan Valdes weighs in on the US jobs report, and discusses expectations for the upcoming … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goldman To Sell Mortgage Unit? Posted: 03 Dec 2010 10:35 AM PST Goldman Sachs Group Inc. (NYSE:GS) is thinking for a sale of Litton Loan Servicing LP, its mortgage servicing division, according to a report in the Financial Times. The sale would result in the closure of Goldman's business of home loan collections and foreclosing on delinquent borrowers. The report has cited that at least one prospective buyer approached Goldman for this unit. However, the talks collapsed over the price issue and no sale is on the cards right now. According to the report, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Toll Brothers Beats By High Margin Posted: 03 Dec 2010 10:35 AM PST Toll Brothers Inc. (NYSE:TOL) recorded a profit of $39.5 million or 24 cents per share (excluding the benefit from an $11 million reversal of accruals that is no longer needed related to joint ventures) in the fourth quarter of its fiscal year ended October 31, 2010 compared with a loss of $111.4 million or 68 cents per share in the prior-year quarter. The profit overruled the Zacks Consensus Estimate of a loss of 8 cents per share. Revenues in the quarter dipped 17% to $402.6 million as home … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DirecTV Predicts Stronger Growth Posted: 03 Dec 2010 10:35 AM PST DIRECTV (NASDAQ:DTV), the largest satellite TV service provider in the U.S., projected accelerating subscriber gains for the fourth quarter of 2010 and stronger growth by 2013. DIRECTV expects to add a net 200,000 U.S. subscribers in the fourth quarter based on increasing customer demand. During third quarter 2010, DIRECTV had net subscriber additions of 174,000 compared with 136,000 in the year-ago quarter. As of September 30, 2010, DIRECTV U.S. had 18.93 million subscribers, up 2.7% year over … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Treasury Gets $1.8B From GM Posted: 03 Dec 2010 10:35 AM PST The Treasury Department of U.S. announced that it has received $1.8 billion as bankers, handling the initial public offering (IPO) of General Motors (NYSE:GM), have exercised options to purchase an additional 53.8 million shares of its stock. Last week, the Treasury received $11.7 billion from the IPO. The payment was received against its $52 billion loan extended to GM last year. The treasury has sold 358.5 million shares in the IPO. This along with the net proceeds from stock options pushed the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cogent A Part Of 3M Now Posted: 03 Dec 2010 10:35 AM PST Recently, 3M Company (NYSE:MMM) completed the acquisition of Cogent Inc., after the transaction was given consent by Cogent's stockholders at a meeting held on December 1, 2010. Cogent shares were valued at $10.50 per share. The transaction was initially announced on August 30, 2010 and as per expectation closed in the fourth quarter of the year. With the completion of the acquisition, Cogent is now a wholly-owned subsidiary of 3M, and is called 3M Cogent Inc. Cogent's biometric systems … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Also Tests Trendline Resistance At 1.3412 Posted: 03 Dec 2010 10:28 AM PST   Thanks to long time supporter Peter Shephard who pointed out the most obvious. The EURUSD tested topside trendline resistance at the 1.3412 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

California Consumes More Oil Than China: Fact Or Market Manipulation? Posted: 03 Dec 2010 09:54 AM PST In this clip dated Nov. 17, CNBC’s Sharon Epperson quoted an analyst’s note from HSBC (NYSE:HBC) pointing out that California currently consumes more crude oil than China. As I do not have a copy of the HSBC report, and therefore cannot verify how the conclusion was reached; however, it is hard for me to fathom California even belongs in the same sentence with China on any economic measures. Fortunately, since crude oil is probably the most widely traded commodity in the world, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: AUDUSD Approaches Resistance. RBA Decision And Comments Next Week Posted: 03 Dec 2010 09:54 AM PST This weeks Australia announced retail sales that were horrendous but the last three days has seen the AUDUSD rally strongly. On Monday night (10:30 PM ET), the RBA will announce it's interest rate decision. Will the central bank change it's tune a bit given weak retail sales, expectation of China tightening, slower US growth? There is some technical resistance ahead that might lead to some profit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD – Continues Upside Correction After Non-Farm Payrolls Posted: 03 Dec 2010 09:49 AM PST Price action on EUR/USD (a 4-hour chart of which is shown) as of Friday (12/03/2010) has made a bullish correction on the heels of the Non-Farm Payrolls report that has brought price up to around the 50% Fibonacci retracement level of the most recent bearish run of late November. This occurs within the context of a parallel downtrend channel extending from the early November high around 1.4280, that continues to be valid for the time being. The current 50% retracement has brought price … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ProLogis Leases Big In The U.S. Posted: 03 Dec 2010 09:35 AM PST ProLogis (NYSE:PLD), a leading global provider of distribution facilities, has recently signed two new lease agreements spanning about 179,000 square feet in the U.S. The continued leasing activities show signs of stabilization in the industrial property market after a prolonged recession that pushed back the sector. About 106,000 square feet were leased to an unnamed manufacturer in the bedding industry. The lessee will occupy the space at ProLogis Park 275 Building Four in Cincinnati. ProLogis … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Apache Offers Bonds To Get Funding Posted: 03 Dec 2010 09:35 AM PST U.S.energy firm Apache Corp. (APA) has priced a public offering of bonds – 3.625% notes due 2021 and 5.25% notes due 2042 aggregating $1 billion ($500 million for each tranche of senior notes). The company plans to use the net proceeds from this offering – expected to be approximately $977 million after the underwriting discount and estimated offering expenses – to pay back the outstanding debt as part of its purchase of Mariner Energy Inc. The offering is expected to close on December 3, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Tests Upside Target From Bull Flag Posted: 03 Dec 2010 09:17 AM PST See prior post: CLICK … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Salix Stays Neutral Posted: 03 Dec 2010 09:05 AM PST We recently reiterated our Neutral recommendation on Salix Pharmaceuticals (NASDAQ:SLXP). Salix posted a loss of 5 cents per share in the third quarter of 2010, narrower than the Zacks Consensus Estimate and the guidance provided by the company. Salix had reported a loss of 15 cents in the year-ago quarter. Higher revenues helped the company post a narrower loss in the reported quarter. Third quarter revenues increased 22.8% to $80.6 million, mainly due to strong Xifaxan sales. Xifaxan (rifaximin) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

An Update On Alexza Pharma (ALXA) Posted: 03 Dec 2010 09:05 AM PST Jason Napodano, CFA On October 10, 2010, the U.S. FDA issued a complete response letter (CRL) on the approval of AZ-004 (Staccato loxapine) for the rapid treatment of agitation in patients with schizophrenia or bipolar disorder.  The FDA raised four issues in the CRL with the new drug application for Adusuve: 1) The FDA raised concern on the clinical safety data from the three phase I pulmonary safety studies with AZ-004 based on observed, dose-related post-dose decreases in forced … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Costco Sustains Sales Momentum Posted: 03 Dec 2010 08:35 AM PST Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted healthy sales data for the four-week period ended November 28, 2010. The company sustained its sales momentum. After a 6% increase in October 2010, Costco's comparable-store sales for November rose 9%, reflecting comparable sales growth of 7% at its U.S. locations and 13% at its international divisions. For the thirteen-week period ended, the company registered comparable-store sales … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Bullish Bias Above 9825 Posted: 03 Dec 2010 08:22 AM PST Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Rebound In Sight Posted: 03 Dec 2010 08:22 AM PST Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lincoln Electric Hikes Dividend Posted: 03 Dec 2010 08:20 AM PST Lincoln Electric Holdings Inc. (NASDAQ:LECO) maintained its annual trend of dividend hikes, exemplified by the past 16 years, increasing its quarterly dividend by 3 cents to 31 cents. This translates to a 10.7% increase from the prior dividend of 28 cents. Lincoln Electric’'s shares upped 1.1% to $63.30 on the news. The increased dividend will be paid on January 14, 2011, to stockholders of record on December 31, 2010. The last increase had been declared exactly a year back in December 2009, which … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Big Lots Misses By A Penny Posted: 03 Dec 2010 08:20 AM PST Big Lots, Inc. (NYSE:BIG) recently posted lower-than-expected third-quarter 2010 results. The quarterly earnings of 23 cents a share missed the Zacks Consensus Estimate by a penny, and dropped 14.8% from 27 cents earned in the prior-year quarter. Consequently, management lowered its projections, thereby sending the stock down 5.1% or $1.59 cents to $29.50 in pre-market trading. The Zacks Consensus Estimate tumbled by 3 cents prior to the earnings announcement with 12 out of 13 analysts covering … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Merck Strikes Deal With SmartCells Posted: 03 Dec 2010 08:20 AM PST Merck & Co., Inc. (NYSE:MRK) recently announced an agreement that should help strengthen its diabetes franchise. The company entered into a definitive agreement with SmartCells, Inc. whereby it will acquire the latter. Terms of the Agreement Per the terms of the agreement, Merck will acquire all outstanding stock of SmartCells for an upfront payment and additional payments based on the achievement of development and regulatory milestones. The entire deal could be worth more than $500 million. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nicor Looking For Suitors? Posted: 03 Dec 2010 08:20 AM PST Nicor Inc. (GAS), a natural gas utility, has been put up for sale, Bloomberg News has reported. The company is working with JPMorgan Chase & Co. (JPM) to find a buyer, according to people familiar with the situation, who declined to be identified because a sale has not been announced. Some utility companies and infrastructure funds have looked at the company and decided the price was too high for a bid, said sources. Naperville, Illinois-based Nicor's shares are currently trading at 15 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CIGNA To Buy Back Notes Posted: 03 Dec 2010 08:20 AM PST Health insurer CIGNA Corp. (NYSE:CI) has announced the offering of $250 million of 4.375% senior notes due 2020. Interest on the notes is payable on June 15 and December 15 of each year, beginning June 15, 2011. CIGNA intends to use a portion of the net proceeds from the notes issue to buy back a part or whole of its 8.5% of $350 million senior notes due in 2019. The company announced to buy back the notes concurrent with the notes issue. CIGNA's debt-to-capital ratio stood at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The American Jobs Emergency Requires Action Posted: 03 Dec 2010 08:14 AM PST This is not a recovery. It's a continuing jobs emergency and it demands action. Unemployment rose to 9.8 percent in November and employers added only 39,000 jobs. Private employers added 50,000 — the smallest gain since January. Government employment continued to shrink. We're heading in the wrong direction. In October, the jobless rate was 9.6 percent, and employers added 172,000 jobs. Private-sector job growth totaled 160,000. At this rate unemployment won't return to its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Bull Flag? Posted: 03 Dec 2010 07:56 AM PST The GBPUSD moved down and bottomed on the back of the better US Non MFG PMI data. The pair held the 100 bar MA on the 5 minute chart and the bull flag trendline at the same level.  The price has rebounded and is trading near the highs now.  If the bull flag completes its target, it would bring the price up toward the 1.5747 level.  Risk remains the topside of the flag which comes in at the 1.5680 level … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Schumpeterian Creative Destruction In IT Posted: 03 Dec 2010 07:33 AM PST 1. The Apple iPad is a Kindle Killer – Amazon Kindle’s market share fell 15 points in November to less than half of the e-reader market (47%), due to competition from the Apple iPad (32% market share).  2. “A research firm predicts that in 2011, computing's third major technology wave will become mainstream, when computers held in one's hand — smartphones and tablets — really take over and start putting personal computers in the rearview … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests 100 Day MA At 1.3327 Posted: 03 Dec 2010 07:31 AM PST See prior post by clicking … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: BIG, WLT, PAY Posted: 03 Dec 2010 07:25 AM PST 12/03/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Still About The Dollar Posted: 02 Dec 2010 09:47 AM PST While the S&P500 goes on to test the recent highs, let’s make no mistake about it that the last 2 days of positive price action have been predicated on a falling Dollar.  Of course, this set of circumstances is no different than the dynamic that has occurred since the March, 2009 lows: that the Dollar and S&P500 have been negatively correlated.  A falling Dollar is good for equities and a rising Dollar is a headwind.  Ok, nothing new here. Figure 1 shows that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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