Wednesday, December 22, 2010

DailyMarkets.com - Chase Freedom 5% Cash Back Rotating Categories For 2011

DailyMarkets.com - Chase Freedom 5% Cash Back Rotating Categories For 2011

Chase Freedom 5% Cash Back Rotating Categories For 2011

Posted: 22 Dec 2010 07:35 AM PST

JPMorgan Chase (NYSE:JPM) has just announced the 5% cash back quarterly rotating categories for 2011 for their Chase Freedom – $100 Bonus Cashback credit card. And if you already have this popular cash back card, you can start enrolling for your Chase Freedom 5% cash rebate now.

Cardmembers get to receive an unlimited 1% cash back on all other purchases, and for new sign-ups, you can get a $100 bonus cash back after spending $500 in the first 3 months.

As we mentioned in our review of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Another One For The Record Books!

Posted: 22 Dec 2010 07:20 AM PST

Today’s Idea
With the current level of heightened volatility seen in the Cotton futures market lately, it should come as no surprise that Cotton option premiums are quite high, especially in the old-crop contract months. Some traders expecting a potentially large increase in Cotton plantings this coming spring may wish to explore a bearish strategy in new-crop December Cotton futures. An example of such a strategy would be buying a bear put spread. The cost to buy a higher strike put is offset … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Existing Home Sales Rise Less-than-expected

Posted: 22 Dec 2010 07:15 AM PST

U.S. existing home sales rose less-than-expected last month, industry data showed on Wednesday.

In a report, the National Association of Realtors said that home sales rose to 4.68M, from 4.43M in the preceding month.

Analysts had expected existing home sales to rise to 4.75M last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Suncor Reveals 10-Year Growth Plan

Posted: 22 Dec 2010 07:05 AM PST

Canada’s largest energy company Suncor Energy Inc. (SU) recently unveiled its ten-year business strategy.
In particular, the firm outlined plans to increase production to more than 1 million barrels of oil-equivalent per day (MMBOE/d) by 2020. Suncor sees oil sands production to grow by 10% and company-wide production to grow by 8% in each of the next ten years.
Growth will mainly come from Suncor’s in situ projects (Firebag Stages 3 through 6 and the second stage of MacKay River ), … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Navistar International, Nike, Red Hat, Walgreen Company, Cintas Corporation

Posted: 22 Dec 2010 07:05 AM PST

 Walgreen (NYSE:WAG) reported better-than-expected fiscal first quarter earnings of $0.62, ahead of the Zacks Consensus Estimate of $0.54, on revenues of $17.34 billion, that topped the Zacks Consensus Estimate of $17.29 billion

 Navistar International (NYSE:NAV) reported fiscal third quarter results of $0.54, lower than the Zacks Consensus Estimate of $0.60, on revenues that rose 2.6% to $3.37 billion to beat the Zacks Consensus Estimate of $3.26 billion

 Nike (NYSE:NKE) bested … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Excel Trust Acquires Assets

Posted: 22 Dec 2010 07:05 AM PST

Excel Trust, Inc. (EXL), a real estate investment trust (REIT) primarily focusing on retail assets, has recently acquired two shopping centers in California for about $161 million to strengthen its position in the market. The properties purchased included Park West Place – a 739,234 square-foot retail shopping center in Stockton for $92.5 million and Gilroy Crossing – a 473,640-square-foot retail shopping center in Gilroy for $68.5 million.
Built in 2004, Park West Place is the only … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.22.2010 – GBP/JPY EUR/JPY EUR/GBP

Posted: 22 Dec 2010 06:53 AM PST

GBP/JPY Targets 128.00
Resistance 1: 129.50-129.60; R2: 130; R3: 130.75-131.00
Support 1: 129.50 (cracked): S2: 128.00-128.15; S3: 126.50

- The GBP/JPY has declined in a channel and tested 129.50. Today, we see a break and therefore a target now is 128.00-128.15 (78.6% retracement and swing projection using 134.25-129.50 swing from 133.00).
- As with any breakout, I suspect a pullback, and if a pullback can stop at 130.00, further decline towards 128.00-128.15 is very likely. However, a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GD Gets German Contract

Posted: 22 Dec 2010 06:35 AM PST

General Dynamics Corporation(NYSE:GD) received a $165 million contract from the German Federal Office of Defense Technology and Procurement for the delivery of 195 highly protected EAGLE vehicles. The contract will boost the order book of the Combat Systems segment of the company.
General Dynamics' Combat Systems business segment witnessed 13.6% decline in revenues in the first nine months of 2010 on being compared year over year. This was due to lower volumes in the Abrams main battle tank and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ProLogis Repositions Portfolio

Posted: 22 Dec 2010 06:35 AM PST

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, has recently entered an agreement with TPG Capital, a premier global private investment firm, to sell a portfolio of retail and mixed-use assets for approximately $505 million. The transaction is expected to be completed in first quarter 2011. ProLogis intends to utilize the proceeds from the asset sale to repay debt and fund future development activity.
ProLogis sold a portfolio of 11 mixed-use projects with related land … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Respecting Our Elders

Posted: 22 Dec 2010 06:23 AM PST

Growing up in an Irish Catholic household, "spare the road and spoil the child" was very much the order of the day. Along with that, there were many other principles that left a profound imprint on me. One of the strongest was the tenet that we 'respect our elders.' I believe experience is the best teacher. I also believe basic respect is a precious virtue. Combining the two, 'respecting our elders' is not only an admirable quality but an overriding tenet encompassing 'sense on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Rebound Expected

Posted: 22 Dec 2010 06:23 AM PST

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

Japanese Yen: Caution

Posted: 22 Dec 2010 06:22 AM PST

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

British Pound: Rebound

Posted: 22 Dec 2010 06:22 AM PST

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

Euro: Rebound

Posted: 22 Dec 2010 06:22 AM PST

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

Forex – USD/CAD Falls To 2-day Low As Crude Oil Prices Rally

Posted: 22 Dec 2010 06:20 AM PST

Forex Pros- The U.S. dollar fell for the first time in five days against its Canadian counterpart on Wednesday, tumbling to a 2-day low, as crude oil, Canada's largest export, rallied.

USD/CAD hit 1.0112 European afternoon trade, the pair's lowest since December 20; the pair subsequently consolidated at 1.0162, shedding 0.08%.

The pair was likely to find support at 1.0101, the low of December 20, and resistance at 1.0205, Tuesday's high.

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

Another Setback For AstraZeneca

Posted: 22 Dec 2010 06:05 AM PST

AstraZeneca (NYSE:AZN) suffered another pipeline setback recently with the company announcing that it no longer intends to develop motavizumab for the prophylaxis of serious respiratory syncytial virus (RSV) disease.
The company has requested the US Food and Drug Administration (FDA) to withdraw the Biological License Application (BLA) for the candidate. AstraZeneca expects to incur an impairment charge of $445 million in the fourth quarter of 2010 due to the discontinuation of the development of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Adobe Beats On Enterprise Strength

Posted: 22 Dec 2010 06:05 AM PST

Adobe Systems Inc. (NASDAQ:ADBE) reported earnings for the fourth quarter ended November 2010 that beat the Zacks Consensus Estimate by 5 cents. The company's results reflect the gradual turnaround in the broader commercial and enterprise markets.
Revenue
Adobe's total revenue was $1.01 billion, up 1.8% sequentially, 33.1% year over year and just over management's own expectations of $950 million to $1 billion. Revenue also exceeded the Zacks Consensus Estimate of $988 million by 2.0%. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eli Lilly Acquires Avid

Posted: 22 Dec 2010 06:05 AM PST

Eli Lilly and Company (NYSE:LLY) recently announced the completion of the acquisition of privately-held company, Avid Radiopharmaceuticals, Inc. for an upfront payment of $300 million. In addition to this upfront payment, Eli Lilly may have to pay up to $500 million on the achievement of certain regulatory and commercial milestones related to Avid's lead candidate, florbetapir.
The acquisition has provided Eli Lilly the access to florbetapir F 18 (18F-AV-45), which is currently under US Food and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rockwell Acquires Blue Ridge

Posted: 22 Dec 2010 06:05 AM PST

Rockwell Collins Inc.(NYSE:COL), a supplier of avionics and military equipment, acquired Blue Ridge Simulation Inc., a leading supplier of high-performance sensor simulation to the U.S. Department of Defense, commercial and international training applications.
Based in Leesburg, Virginia, Blue Ridge Simulation provides a broad portfolio of high-performance sensor simulation that span from basic weather radar simulators to high-performance Digital Radar Landmass Simulators. It helps in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.22.2010 EUR/USD GBP/USD USD/JPY

Posted: 22 Dec 2010 05:53 AM PST

EUR/USD's PullbackResistance pivot: 1.3180-1.32; R2 declining channel resistance (near 1.3240)
Support 1: 130.60; S2: S2: 129.70; S3: 129.20

- The EUR/USD was in a pullback. The pullback behaved like it would in a bearish market. The rally was stopped at the 1.3180 pivot, and a decline followed.
- The RSI came to 60 and turned lower from there. There is a negative reversal signal since the RSI made a higher high, but the price peak did not.
- The projection for this signal is to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

October Traffic Volume Sets New Record; Five Straight Months Of Traffic Above 2007 Levels

Posted: 22 Dec 2010 05:51 AM PST

The Federal Highway Administration reported today that travel on all roads and streets in the U.S. increased by +1.9% in October compared to the same month last year. Total travel for the month of October was estimated at 259.5 billion vehicle miles, the highest travel volume ever for the month of October.  The October increase in traffic was the fifth consecutive monthly increase compared to the same month last year, and the seventh increase in the last eight months. For the last five … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Fails To Rev-up To More Chinese Overtures To Lisbon

Posted: 22 Dec 2010 05:47 AM PST

Wednesday brings another reprieve for the euro after reaching a three-week low on Tuesday as sentiment flopped with traders giving up their posts for the year. The Financial Times claims that China has assured European officials that it will take further action to support European stabilization efforts, which are assumed to be further purchases of higher-yielding government bonds. With two-way trade flows of $434 billion in the first 11 months of the year, the EU represents China’s largest … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. GDP Rises Less-than-expected

Posted: 22 Dec 2010 05:40 AM PST

Gross domestic product in the U.S. rose less-than-expected in the last quarter, official data showed on Wednesday.

In a report, the Bureau of Economic Analysis said that GDP rose to a seasonally adjusted annual rate of 2.60%, from 1.70% in the preceding quarter.

Analysts had expected U.S. gross domestic product to rise 2.70% in the last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Massive Rate Hike For Georgia Power

Posted: 22 Dec 2010 05:35 AM PST

Georgia Power – electricity producer Southern Co's. (SO) biggest unit – has won state approval for a massive base rate hike over three years. Starting next month, Georgia Power bills for its 2.4 million customers will jump about $15, one of the largest rate increases in the state's history.
The new rates approved by the Georgia Public Service Commission's order will add about $10.76 to an average monthly residential customer bill (homeowners using about 1,000 kilowatt hours per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

How Gov’t. Failure Caused The Great Recession

Posted: 22 Dec 2010 05:34 AM PST

The banking crisis that began in August 2007 shocked markets and precipitated the Great Recession. To fully explain the banking crisis, one must account for its timing, severity, and global impact.  For example, why didn't a banking crisis erupt sooner—say, in the recession years of 1990-1991 or 2001-2002? What changed in recent years that led to business risk-taking capable of wrecking the U.S. housing market and the U.S. banking system and other banking systems throughout the world? … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/CHF Hits Fresh Record Low As Euro Zone Debt Woes Weigh

Posted: 22 Dec 2010 05:17 AM PST

Forex Pros – The euro tumbled to a fresh all-time low against the safe haven Swiss franc on Wednesday, amid lingering concerns over the fiscal health of peripheral euro zone nations.

EUR/CHF hit 1.2493 during European afternoon trade, a fresh record low; the pair subsequently consolidated at 1.2505, shedding 0.37%.

The pair was likely to find support at 1.2493 and resistance at 1.2711, Tuesday's high.

Lingering concerns over euro zone sovereign debt contagion continued to weigh on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Architecture Billings Index Hits Pre-Recession Level

Posted: 22 Dec 2010 04:51 AM PST

Washington, D.C. (link will appear shortly) – “After stepping back in October reversing into the negative territory, the Architecture Billings Index (ABI) rose more than three points in November to reach its highest mark since December 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI score … [visit site to read more] or compare Best Credit Cards and Best CD Rates

S&P 500 Index – 25% To Go To All-time Peak

Posted: 22 Dec 2010 04:38 AM PST

The S&P 500 Index yesterday advanced for the 13th time in 15 sessions, reaching a two-year high – a level last seen before the collapse of Lehman Brothers in September 2008. According to the Advisors Sentiment of Investors Intelligence, the percentage bulls increased to 58.8% over the past week – a new high since October 2007 when the number peaked at 62.0%.
A flood of liquidity has propelled the Index to 85.4% above the bear market low of March 9, 2009, meaning another 24.8% increase … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Yardeni: Economic Boom In ‘11

Posted: 22 Dec 2010 04:37 AM PST

Could there be a global economic boom in 2011? Edward Yardeni, president of Yardeni Research, argues the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Don Coxe – Investment Recommendations (December 2010)

Posted: 22 Dec 2010 04:36 AM PST

The December edition of Donald Coxe's Basic Points research report (subtitled "The eurodream becomes a nightmare") has just been published. His investment recommendations, as summarized in this document, are listed in the paragraphs below, but I do recommend you also read the full report at the bottom of the post. (Also note that Donald's weekly webcasts can be accessed from the sidebar of the Investment Postcards site.)
1. Continue to reduce endogenous portfolio risk by selling shares … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Buying Bonds? Look Abroad!

Posted: 22 Dec 2010 04:35 AM PST

Pimco's Tony Crescenzi says investors looking for bonds should stay away from the developed world and buy from Asian and Latin American countries.

a href="http://www.feedburner.com/fb/a/emailverifySubmit?feedId=921608&loc=en_US">Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Kass: “Explosive” Surprises For 2011

Posted: 22 Dec 2010 04:34 AM PST

Doug Kass has been sharing his ten surprises for 2010 over the past few weeks on CNBC's Fast Money. Friend Barry Ritholtz, writer of The Big Picture blog, has done the hard work of providing a neat summary.
1: I expect a series of populist initiatives by the current administration beginning by a frontal assault on mutual fund 12b-1 fees.
2: The Internet becomes the tactical nuke of the digital age. Cybercrime likely explodes exponentially as the Web is invaded by hackers.
3: Scarcity of water … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Copper Could Jump 50%, Says Griffiths

Posted: 22 Dec 2010 04:33 AM PST

The price of copper is set to see significant gains and could even jump 50%, while oil is also likely to see a strong rise, Robin Griffiths, technical strategist at Cazenove Capital, told … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Face To Face With Bremmer And Sanger On Korean Tensions

Posted: 22 Dec 2010 04:31 AM PST

Charlie Rose sits down with Ian Bremmer of the Eurasia Group and David Sanger of The New York Times to have a look at the tensions in the Korean Peninsula.
A link to the transcript of the interview follows at the end of the post.
Click here or on the image below to view the video.

Click here for a transcript of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Laugh Out Loud: Debt And The Next Generation

Posted: 22 Dec 2010 04:30 AM PST

Forex – Dollar Declines Against Most Rivals As U.S. GDP Data Eyed

Posted: 22 Dec 2010 04:17 AM PST

Forex Pros – The U.S. dollar was down against most of its major rivals on Wednesday, ahead of the release of a flurry of U.S. economic data, including a final report on third quarter gross domestic product and existing home sales.   

During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.36% to hit 1.3147.

Earlier in the day, a report in Portugal's leading financial newspaper Jornal de Negocios said that China was planning to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

How Did Our Mid-Year Predictions For Active ETFs Pan Out?

Posted: 22 Dec 2010 04:00 AM PST

At the beginning of July 2010, we made four forecasts to anticipate and look out for during the remainder of 2010. As we come to the end of 2010, let's look back at those four predictions we made back then to see how they panned out!
Mid-Year Prediction 1: Increase in mutual fund conversion plans
That has happened. Until June, only one company had expressed publically any sort of interest in converting active mutual funds into actively-managed ETFs. Grail Advisors was reportedly in talks with … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Extends Gains On Report China To Buy Portugal Debt

Posted: 22 Dec 2010 03:57 AM PST

Forex Pros – The euro extended gains against the U.S. dollar on Wednesday, rising to a fresh daily high, as a report that China was ready to purchase significant amounts of Portuguese sovereign debt boosted the single currency.   

EUR/USD hit 1.3181 during European afternoon trade, a fresh daily high; the pair subsequently consolidated at 1.3145, climbing 0.34%.

The pair was likely to find support at 1.3059, the low of December 2, and resistance at 1.3358, the high of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BoE Minutes Reveal Three Way Split For The Third Consecutive Month, GDP Rises Less Than Expected

Posted: 22 Dec 2010 03:45 AM PST

Fundamental Headlines
• South Korea Prepares New Drills – Wall Street Journal
• Japan Sees End to Economic Lull – Wall Street Journal
• China Extends Help to Tackle Euro Crisis – Financial Times
• U.S. Stocks Erasing Loss Since Lehman Failure Fuels 2011 Bulls – Bloomberg
• U.K. Economy Slows More Than Estimated as BoE Splits – Bloomberg
GBPUSD: The Bank of England minutes for the month of December showed a three way split for the third consecutive month as policy maker … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Tumbles To 7-week Low On Downbeat U.K. Data

Posted: 22 Dec 2010 03:28 AM PST

Forex Pros – The pound was down against the yen for the fourth consecutive day on Wednesday, tumbling to a 7-week low, following the release of worse-than-expected data on U.K. gross domestic product and its current account.   

GBP/JPY hit 1.2892 during early European trade, the pair's lowest since November 1; the pair subsequently consolidated at 1.2911, slumping 0.33%.

The pair was likely to find support at 1.2796, the low of October 29, and resistance at 1.3030, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Plunges To 2-month Low Amid Ongoing Euro Debt Woes

Posted: 22 Dec 2010 03:10 AM PST

Forex Pros – The U.S. dollar was down for the third consecutive day against the Swiss franc on Wednesday, plunging to a 2-month low, as ongoing concerns over euro zone sovereign debt contagion generated support for the safe haven franc.

USD/CHF hit 0.9507 during European morning trade, the pair's lowest since October 15; the pair subsequently consolidated at 0.9523, tumbling 0.59%.

The pair was likely to find support at 0.9484, the low of October 15, and resistance at 0.9653, Tuesday's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Falls To 1-week Low In Subdued Trading

Posted: 22 Dec 2010 02:52 AM PST

Forex Pros – The U.S. dollar slipped to a 1-week low against the yen in subdued trading on Wednesday, amid speculation Japanese exporters bought the currency to bring home funds before the end of the year.

USD/JPY hit 83.41 during European morning trade, the pair's lowest since December 14; the pair subsequently consolidated at 83.51, shedding 0.28%.

The pair was likely to find support at 82.83, the low of December 14 and resistance at 84.11, the high of December 20.

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

Forex – GBP/USD Tumbles To 3-month Low After Weak U.K. Data

Posted: 22 Dec 2010 02:25 AM PST

Forex Pros – The pound erased gains against the U.S. dollar on Wednesday, tumbling to a fresh 3-month low, following the release of worse-than-expected data on its gross domestic product and current account.   

GBP/USD hit 1.5428 during early European trade, the pair's lowest since September 14; the pair subsequently consolidated at 1.5457, shedding 0.09%.

The pair was likely to find support at 1.5347, the low of September 14, and resistance at 1.5567, Tuesday's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gulfsands Petroleum Sells Three Gulf Of Mexico Properties

Posted: 22 Dec 2010 01:00 AM PST

Gulfsands Petroleum (LON:GPX) , the oil and gas exploration and production group active in Syria, Iraq, Tunisia, Italy and the US, has sold three properties from its Gulf of Mexico asset portfolio for US$4.2m.The non-core producing assets are located in the shallow water shelf area of the Gulf of Mexico and the disposal is a part of an ongoing plan at Gulfsands to rationalise its US oil and gas property portfolio.

The properties include various working interests in the Eugene Island 57/58 (EI … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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