Thursday, December 16, 2010

DailyMarkets.com - Coming Tomorrow: Mackinac Center For Public Policy Cigarette Taxes And Smuggling Study

DailyMarkets.com - Coming Tomorrow: Mackinac Center For Public Policy Cigarette Taxes And Smuggling Study

Coming Tomorrow: Mackinac Center For Public Policy Cigarette Taxes And Smuggling Study

Posted: 16 Dec 2010 06:12 PM PST

State cigarette excise taxes vary around the country from a low of 17 cents per pack in Missouri to a whopping $4.35 per pack in New York (see map above, data here). Add another $1.50 per pack in New York city taxes, and a pack of Marlboros in Manhattan can now cost as much as $14, according to this recent New York Post article.  As you might expect, those prohibitively high taxes have fueled a huge black market in New York, and the Post reported that “Illegal cigarettes are pouring into … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LA Port Export Volume Highest Ever For November

Posted: 16 Dec 2010 04:53 PM PST

The Port of Los Angeles released container statistics today for November, and one of the highlights of the report is that the number of loaded outbound containers (exports) in November at 170,319 TEUs (twenty-foot equivalents) was the third highest monthly total on record, the highest monthly volume since August 2008, and the highest-ever export container count for the month of November in history.  Compared to the pre-recession level of 145,227 TEUs in November 2007, export volume this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The “Economics Of Seinfeld” Website, Updated

Posted: 16 Dec 2010 04:19 PM PST

Back in October, a CD post featured the website “The Economics of Seinfeld,” which features dozens of Seinfeld episodes that are identified for highlighting specific economic principles like price ceilings, incentives, imperfect information, moral hazard, marginal analysis, cost-benefit analysis, game theory, arbitrage (the famous “Bottle Deposit” episode, featured above), free entry and exit, etc. 

The website has now been updated, with video clips from the Seinfeld show that are now … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nationwide Consumer Confidence Falls Unexpectedly

Posted: 16 Dec 2010 04:15 PM PST

The U.K.'s Nationwide consumer confidence index fell unexpectedly last month, industry data showed on Friday.

In a report, Nationwide said that Nationwide consumer confidence fell to a seasonally adjusted 45.00, from 52.00 in the preceding month.

Analysts had expected Nationwide consumer confidence to rise to 53.00 last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Quadruple Witching

Posted: 16 Dec 2010 04:00 PM PST

12/17/10 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The Asian Session

Posted: 16 Dec 2010 03:50 PM PST

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Thursday.

NZD/USD was trading at 0.7403, up 0.01% at time of writing.

The pair was likely to find support at 0.7344, today's low, and resistance at 0.7576, Tuesday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.08% to hit 1.3362 and EUR/NZD falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Autodesk Reaffirms

Posted: 16 Dec 2010 03:35 PM PST

Maker of 3D design software applications, Autodesk Inc. (NASDAQ:ADSK) reiterated its previously issued guidance for the fourth quarter and full fiscal 2011 as well as for fiscal 2012. Management had previously given its guidance during the third quarter earnings call on November 18, 2010.
For the fourth quarter of 2011, Autodesk expects revenues to be in the range of $500.0 million to $520.0 million. Non-GAAP earnings are expected in the range of 30 cents to 33 cents per share for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Embraer’s Strong Orders

Posted: 16 Dec 2010 03:35 PM PST

The gradual economic recovery is encouraging almost all the industries to open up. The airline industry, which took a big hit from the recession, is also looking for opportunities as fuel costs have more or less halved from $150 per barrel in 2008.
Empresa Brasileira de Aeronautica S.A., or Embraer (NYSE:ERJ), the largest Brazilian aircraft manufacturer, signed an agreement with Deutsche Lufthansa AG for eight new EMBRAER 195 jets for a total value of $338 million.
Embraer also … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Market Stuck At Resistance

Posted: 16 Dec 2010 03:18 PM PST

Cusick's Corner
This has been a nice and orderly Expiration week even with futures and December options coming off over the next 24 hours. The market is watching earnings — been positive, the bonds — prices have firmed and the EU — finance ministers have been quiet. The market is still stuck at resistance and needs to break through with conviction. We are at levels that we have not seen in years. Leading Indicators are due out in the morning and if you have a December option, make sure … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch For The 17th Of December

Posted: 16 Dec 2010 03:09 PM PST

 ( click to enlarge )

Motorola, Inc. (NYSE:MOT) broke out today to a new 52-week high on strong volume. The stock cleared resistance at $8.68 and appears ready to make a nice advance. This should be the first part of a bigger move, which is why I will be watching the stock closely on Friday. My target is $9.76. Expect some resistance near $9.29.

  ( click to enlarge )

Eastman Kodak Company (NYSE:EK)  is still consolidating here and may still have a chance to move higher. Long … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wyndham’s Hawaii Update

Posted: 16 Dec 2010 03:05 PM PST

Wyndham Worldwide Corporation (NYSE:WYN) through its subsidiary Wyndham Hotel Group announced the completion of the first phase of its first property in Hawaii. The project comprises the development of a luxury resort and residential unit at Koloa Landing located at Poipu Beach on the south shore of Kauai, one of the most coveted locations in the Hawaiian Islands.
The project will be developed in phases and will feature multiple facilities.  It took more than two years to complete the first … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BP To Sell Assets To UEG

Posted: 16 Dec 2010 03:05 PM PST

In the process of collecting cash to pay off the Gulf of Mexico disaster-related costs, BP plc (NYSE:BP) has signed a deal with Hong Kong-based United Energy Group Limited ("UEG") for the planned divesture of most of its oil and gas assets in Pakistan.
BP had announced its plans to sell the assets in July and will receive a total consideration of $775 million in cash, slightly higher than the estimated value of the properties given three months ago by analysts.
United Energy Group has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Black Box Economics

Posted: 16 Dec 2010 02:53 PM PST

Ceteris Paribus Lost
"The Fed is printing money, and Economics 101 tells us that if you increase the supply of something, ceteris paribus, its price falls. The Fed is devaluing the dollar."
This paraphrased line was used on me recently in a recent TV debate on the impact of QE2. I couldn't see the fellow in the other box, but I could hear his smile as he savored what he considered his knock-out punch.
It would no doubt come as a surprise to him that in my distant past I had run across … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LUK Completes 30% Stake Sale

Posted: 16 Dec 2010 02:35 PM PST

Leucadia National Corporation (NYSE:LUK) announced the completion of a 30% stake sale in Cobre Las Crucescopper mining project to Canada’s Inmet Mining Corp. As disclosed earlier, the transaction value was approximately $480 million and additionally, LUK was released from a guarantee of $72 million debt owned by Las Cruces to an affiliate of Inmet.
As per the terms of the agreement, of the total sales consideration, Leucadia received roughly $150 million in cash and 5.4 million Inmet's shares … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Oracle Impresses In Fiscal Q2

Posted: 16 Dec 2010 02:35 PM PST

Software giant Oracle Corp. (NASDAQ:ORCL) has solidly outperformed estimates for the 2nd time in as many quarters in fiscal 2011. Oracle posted non-GAAP EPS of 51 cents a share, easily beating the Zacks Consensus Estimate of 44 cents. Oracle’s revenue jumped 47% year over year to $8.6 billion in the quarter (both GAAP and non-GAAP). The Zacks Consensus Estimate for revenue was $8.3 billion.

Oracle had forecast healthy growth in new software license sales, but the 21% gain outperformed the company … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Boeing Will Fly To Russia

Posted: 16 Dec 2010 02:35 PM PST

The Boeing Company (NYSE:BA) has signed an agreement of intent with OAO Aeroflot, the Russian flag carrier and largest airline based on passengers carried in Russia. Per the agreement Aeroflot will buy eight each B777-200ER and B777-300ER series aircraft with options to purchase four B787 Dreamliner series aircraft.
The agreement is sort of a coup for Boeing having garnered a greater foothold in a market with a small presence compared to its peers – Airbus and Ilyushin.
Headquartered in Chicago, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

HP Wins $1.4B Contract

Posted: 16 Dec 2010 02:05 PM PST

Computing major Hewlett-Packard & Co. (NYSE:HPQ) announced that its German unit has clinched a five year technology infrastructure outsourcing contract from E.ON's IT GmbH. E.ON's IT GmbH is the information technology (IT) and telecommunications subsidiary of Germany-based utility company E.ON AG. HP will receive a handsome $1.4 billion for the project.
Under the terms of the agreement, HP will directly handle data center services and workplace services for more than 80,000 E.ON employees. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Foster Wheeler Gets Technology

Posted: 16 Dec 2010 02:05 PM PST

Global Engineering and Construction Group of Foster Wheeler AG (NASDAQ:FWLT) has acquired the CEntry Sulfur Recovery technology from FLSmidth & Company.
The Sulfur Recovery technology is used to treat gas streams containing Hydrogen Sulfide for the purpose of reducing the sulfur content of fuel products and segregate a saleable by-product.
This acquisition enhances the company’s ability to provide refiners with the process technology to meet stringent environmental and fuel product … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RIMM Outperforms Zacks Estimate

Posted: 16 Dec 2010 02:05 PM PST

Research In Motion Ltd. (NASDAQ:RIMM) recently reported fiscal third-quarter earnings per share of $1.74, which was a dime, or 6%, better than the Zacks Consensus Estimate. This mobile communications giant also announced revenue of $5.49 billion, topping Zacks’ expectation of $5.38 billion while gaining 40% year over year and 19% sequentially.
While this was all good news, none of it was unexpected. When you're talking about RIMM today, you're really comparing this company to Google (NASDAQ:GOOG) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 16 Dec 2010 01:57 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3241, up 0.21% at time of writing.

The pair was likely to find support at 1.3181, today's low, and resistance at 1.3497, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.35% to hit 0.8470 and EUR/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: FDX, DFS, V, MA

Posted: 16 Dec 2010 01:41 PM PST

12/16/10 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

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 16 Dec 2010 01:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Thursday.

USD/JPY was trading at 84.02, down 0.26% at time of writing.

The pair was likely to find support at 82.84, Tuesday's low, and resistance at 84.51, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.20% to hit 1.3241 and GBP/USD rising 0.58% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Regency Acquires Shopping Center

Posted: 16 Dec 2010 01:35 PM PST

Regency Centers Corp. (NYSE:REG), a leading operator and developer of grocery-anchored and community shopping centers across the U.S., has recently acquired Willow Festival, a 405,227 square foot neighborhood shopping center in the Chicago metro area. The company purchased the property for $64 million from Hamilton Partners, a privately-owned real estate development firm.
Willow Festival is anchored by leading retailers such as Lowe’s Companies Inc. (NYSE:LOW), Whole Foods Market, Inc. (NASDAQ:WFMI) and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

First Horizon: TARP Update

Posted: 16 Dec 2010 01:35 PM PST

Memphis-based First Horizon National Corp. (NYSE:FHN) is progressing well with its capital raise initiatives to repay the bailout money it received under the U.S. Government's Troubled Asset Relief Program (TARP).
On Wednesday, First Horizon sold $500 million in senior holding company notes, according to IFR, a Thomson Reuters service. The deal size exceeded the originally planned $400 million. The notes carry a rating of "Baa1" from Moody's Investor Service, a unit of Moody's Corp. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 16 Dec 2010 01:25 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3235, up 0.16% at time of writing.

The pair was likely to find support at 1.3181, today's low, and resistance at 1.3497, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.40% to hit 0.8466 and EUR/JPY falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 0.36%

Posted: 16 Dec 2010 01:10 PM PST

Forex Pros – U.S. stocks were up after the closing bell on Thursday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.36%, the S&P 500 index gained 0.62%, while the Nasdaq 100 index climbed 0.71%.

Meanwhile, across the Atlantic, European stock markets were mixed at close. France's CAC 40 was up 0.21%; Germany's DAX gained 0.11%; Britain's FTSE 100 declined 0.02%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Siemens Sells IT Unit

Posted: 16 Dec 2010 01:05 PM PST

Siemens AG (NYSE:SI) is set to sell its IT solutions and services business to Atos Origin for €850 million or $1.1 billion.
The Siemens IT business provides outsourcing services to midsize and large companies and accounts for 6% of total revenue. The unit also maintains internal corporate IT systems at Siemens and develops software for its medical and industrial businesses. The business lost €537 million in FY10.
Siemens is likely to retain a 15% stake in Atos Origin for at least five … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Options Player Puts The Strangle-hold On Cablevision Systems Corp.

Posted: 16 Dec 2010 01:00 PM PST

Options player puts the strangle-hold on Cablevision Systems Corp.
Today’s tickers: CVC, OSTK, AKS, SLB, MON, NDAQ & WGO
Cablevision Systems Corp. (NYSE:CVC) – A short strangle implemented on the cable operator during afternoon trading indicates one strategist expects shares in Cablevision Systems Corp. to remain range-bound through June 2011 expiration. Cablevision’s shares rose earlier in the day, but are down 0.35% to arrive at $34.57 as of 3:40pm in New York. It appears the strangle-player … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 16 Dec 2010 12:45 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Thursday.

GBP/USD was trading at 1.5623, up 0.50% at time of writing.

The pair was likely to find support at 1.5532, Wednesday's low, and resistance at 1.5911, Tuesday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.40% to hit 0.8466 and GBP/JPY rising 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nasdaq To Purchase FTEN

Posted: 16 Dec 2010 12:35 PM PST

Expanding its risk management solutions, yesterday, Nasdaq OMX Group Inc. (NASDAQ:NDAQ) announced its agreement to acquire leading real-time risk management solutions provider, FTEN Inc., for an undisclosed amount. Besides, while other terms of the deal are yet to be revealed, it is expected to be closed by the end of this month.
FTEN is jointly owned by Goldman Sachs Group Inc. (NYSE:GS), Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM) and Credit Suisse Group AG (NYSE:CS).
Based in New … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Honda To Quit Indian Venture

Posted: 16 Dec 2010 12:35 PM PST

Honda Motor Co. (NYSE:HMC) will possibly exit from its 26-year old motorcycle joint venture (JV) in India, Hero Honda Motors Ltd. with Hero Group. The Nikkei Business Daily reported that Honda will sell its 26% stake in the JV in order to focus on its fully owned two-wheeler venture in the country, Honda Motorcycle & Scooter India Pvt. Ltd.
The Delhi-based Hero Honda was established in 1984 and offers 15 motorcycle models, including the Splendor, Karizma, Passion, Hunk and Glamour. It has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

XEL-WFR To Build Solar Project

Posted: 16 Dec 2010 12:35 PM PST

Southwestern Public Service Company, a unit of Xcel Energy Inc. (NYSE:XEL), and SunEdison, a subsidiary of MEMC Electronic Materials Inc. (NYSE:WFR), announced the start of construction at one of the sites of the five-site solar project coming up in New Mexico.
The ground-breaking event for the 54 megawatt (MW) photovoltaic solar deployment project was held at the Woolworth Community library in Jal, New Mexico. The solar project to be built at five separate sites in Lea and Eddy counties, New Mexico, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Watching The Strength Of This Uptrend

Posted: 16 Dec 2010 12:18 PM PST

Cusick's Corner
The market continues to rise in the face of the Dollar, DXH11, over .80 the Euro, FXE, hovering at 132 and the Volatility Index VIX is at 17.43, a level that we have not seen since April. I am watching the strength of this uptrend into the After Hours — I want to see the market close on its highs. Once again the trend is definitely to the upside, the concern is the growing complacency with the market and the overall bullishness of the retail investor — oX Put/Call ratio and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ABM Matches EPS, Beats Revenue

Posted: 16 Dec 2010 12:05 PM PST

ABM Industries Inc. (NYSE:ABM) reported fourth-quarter 2010 adjusted earnings per share (EPS) of 43 cents per share, in line with the Zacks Consensus Estimate and 10% above the prior-year quarter EPS of 39 cents. Increase in revenues in conjunction with effective management of costs culminated in the improved year-over-year performance.
The EPS in the reported quarter excluded acquisition costs and insurance adjustments. The prior-year figure excluded charges related to insurance adjustments and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stanley B&D To Buy InfoLogix

Posted: 16 Dec 2010 12:05 PM PST

Stanley Black & Decker (NYSE:SWK) signed a definitive agreement to acquire InfoLogix Inc. (IFLG.PK) in a cash transaction amounting to $61.2 million, including assumption of debt. The completion of the transaction is expected early in the first quarter of 2011, subject to various closing conditions.
Per terms of the agreement, Stanley will acquire each outstanding share of InfoLogix at $4.75 each. Debt assumed will include current outstanding debt of $22.1 million and a portion of debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up During The U.S. Session

Posted: 16 Dec 2010 12:05 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Thursday.

USD/CAD was trading at 1.0058, up 0.08% at time of writing.

The pair was likely to find support at 1.0003, Wednesday's low, and resistance at 1.0111, Tuesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.001% to hit 1.3214 and GBP/USD rising 0.39% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Taking Out The Crystal Ball: 2011 Gold Bullion Forecast

Posted: 16 Dec 2010 11:52 AM PST

The end of this year will make the ninth consecutive December 31 when the price of gold bullion was higher than the previous December 31. Gold has risen from approximately $300.00 in 2002 to $1,380 per ounce today—a gain of 360%.

At this point of the gold bull market, we are at what I call phase two. Phase one is when the very smart money starts accumulating an asset because it is so depressed that no one wants it. For gold bullion, this can be classified as the period between 2001 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Is The U.S. Dollar Too Big To Fail?

Posted: 16 Dec 2010 11:45 AM PST

Those in the U.S. power structure know what the plan is should the U.S. dollar fail. They are not admitting publically that there is even the remotest chance that it could happen but, rest assured, there is a plan.  There is always a plan.  To paraphrase Franklin Roosevelt, nothing happens by chance in government, so don't be caught up in such a 'surprise' event – whatever it may be and whenever it occurs.

The U.S. Dollar: Too Much of a Good Thing?

The U.S. dollar really is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

General Mills Misses Estimates

Posted: 16 Dec 2010 11:35 AM PST

General Mills (NYSE:GIS) reported results for the second quarter of fiscal 2011. For the quarter, adjusted earnings decreased 1.3% to 76 cents a share compared with 77 cents in the year-ago period. The quarterly EPS was also below the Zacks Consensus Estimate of 78 cents by 2.6%. Profits were impacted by higher commodity costs and higher levels of price promotion.
Management reiterated its fiscal 2011 earnings in the range of $2.46 – $2.48 a share. Excluding mark-to-market effects and the tax … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GM Repays Thru Buyback

Posted: 16 Dec 2010 11:35 AM PST

The Treasury Department of U.S. announced that it has received $2.1 billion against the sale of preferred shares to General Motors (NYSE:GM) that were issued in GM’s bailout last year.
The buyback of Series A preferred stock by GM was agreed at a price of $25.50 per share in October. The automaker said it would record a $700 million charge against its net income in the 2010 fourth quarter for the difference between the purchase price and the recorded value of the preferred shares. The preferred … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 16 Dec 2010 11:15 AM PST

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

EUR/USD was trading at 1.3211, down 0.02% at time of writing.

The pair was likely to find support at 1.3181, today's low, and resistance at 1.3497, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.41% to hit 0.8465 and EUR/JPY falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Falls As USD Pares Losses

Posted: 16 Dec 2010 11:09 AM PST

Crude oil futures traded lower as the dollar pared earlier weakness against the euro. The USD gained on the strength in the Philly Fed manufacturing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Discover Beats Zacks Estimates

Posted: 16 Dec 2010 11:05 AM PST

Discover Financial Services (NYSE:DFS) reported a fiscal fourth quarter earnings of $346.5 million or 64 cents per share, well ahead of the Zacks Consensus Estimate of 42 cents.
The prior-year quarter posted a net loss of $77.9 million or 14 cents per share, excluding an after-tax gain of approximately $285 million related to the settlement of an antitrust litigation with Visa Inc. (NYSE:V) and MasterCard Inc. (NYSE:MA).
Discover also posted net income of $765 million in the fiscal 2010, as against the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tax-Cut Deal: Enough To Boost Jobs?

Posted: 16 Dec 2010 11:05 AM PST

Is sustaining the Bush-era tax cuts adequate to address unemployment? President Barack Obama's tone at a White House event last week gives us confidence, but questions on the efficacy of the tax-cut still lingers.
Though the tax-cut deal — better to say Obama's compromise with Republicans to break the deadlock over taxes — gives Americans increased take-home money, it might significantly increase the nation’s federal budget deficit over the next two years.
As the pay rise will help … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Advances After Philly Fed Data

Posted: 16 Dec 2010 06:02 AM PST

12/16/10 The US dollar pared earlier weakness vs. the EUR, following the improvement in the Philadelphia Fed’s index on regional … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Markets Still Seem To Be Confused”

Posted: 16 Dec 2010 05:49 AM PST

12/16/10 Meridian Equity Partners’ Jonathan Corpina discusses underlying fundamental affecting the equity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Housing Starts Up, Permits Down

Posted: 16 Dec 2010 10:35 AM PST

Housing Starts rose in November to a seasonally adjusted annual rate of 555,000 from 534,000 in September, an increase of 3.9%. The October numbers were revised higher from 519,000, so it is possible to see the increase as 21,000 or 6.9%.

Relative to a year ago, they are down 5.8%. Quite frankly, a year ago was a pretty lousy time for the home builders, as well.

If one looks at only single-family houses, the improvement was somewhat better, rising to 465,000 from 435,000 in October (revised … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 16 Dec 2010 10:35 AM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Thursday.

AUD/USD was trading at 0.9874, up 0.05% at time of writing.

The pair was likely to find support at 0.9832, today's low, and resistance at 1.0029, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.04% to hit 1.3383 and AUD/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Schlumberger Bull Enacts Four-legged Options Combo Play

Posted: 16 Dec 2010 10:28 AM PST

Schlumberger bull enacts four-legged options combo play
Today’s tickers: SLB, MON, NDAQ & WGO
Schlumberger, Ltd. (NYSE:SLB) – A four-legged transaction on the oil services company today appears to be the work of an investor positioning for the price of the underlying stock to rise ahead of May 2011 expiration. Schlumberger’s shares are up 0.10% to arrive at $80.80 as of 12:30pm. The options strategist initiated a short strangle in order to partially finance the purchase of in- and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Apogee Posts 3rd Quarter Loss

Posted: 16 Dec 2010 10:05 AM PST

Apogee Enterprises Inc. (NASDAQ:APOG) reported third-quarter fiscal 2011 operating loss of 8 cents per share compared with operating earnings of 39 cents in the year-ago quarter. The operating loss per share in the reported quarter was an improvement over the Zacks Consensus Estimate of a loss of 10 cents.
Total Revenue
Apogee's total operating revenue for second-quarter fiscal 2011 was $147.2 million versus $179.8 million reported in the year-ago period, reflecting a decline of 18%. The decline … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ITW Revenue Update, Guidance Intact

Posted: 16 Dec 2010 10:05 AM PST

Illinois Tool Works Inc. (NYSE:ITW) reported an 11% year-over-year rise in its operating revenues for the three months ended November 30, 2010.  The increase records a 9% growth attributable to a hike in base revenue and 3% to acquisitions. Currency translation had a negative 1.0% impact on the revenue. End markets were strong with a solid demand for the company's products.
Transportation revenue grew by 10.1% year over year, while Industrial Packaging by 14.6%. Power Systems and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Coming In For A Landing – Gold And Silver

Posted: 16 Dec 2010 10:00 AM PST

I have nick names for various True Strength Index (TSI) indicator patterns.  What I am going to show you today is what I call “The Hot Air Balloon Landing”.
*
William Blau, the inventor of the TSI, was fond of using his indicator set to (25,13).  I have found this setting to be an extremely accurate representation of longer term trend. Those readers who prefer to trade trends as opposed to the hand to hand combat action of day trading [use TSI (7,4)] really should give the (25,13) TSI … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EU Summit Begins, EUR/USD Finds Support At 1.32, Spanish Bond Auction Sees Borrowing Costs Spike

Posted: 16 Dec 2010 09:57 AM PST

1. EU Summit Starts with Small Goal – Future Permanent Mechanism: The EU Summit is here and so far it seems there will be a minimalistic approach, centered around making sure there is a permanent mechansims to support countries with financing past t2013, the expiration of the current EFSF (European Financial Stabilization Fund).

EU governments are close to agreeing on a two-sentence amendment to the bloc's Lisbon Treaty foreseeing a "mechanism to safeguard the stability of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Major Resistance In Terex Corporation

Posted: 16 Dec 2010 09:55 AM PST

Terex Corporation (NYSE:TEX) is testing two-year highs and has run into a major confluence of resistance, which could lead to weakness ahead. Take a look..

Confluence of Resistance

The daily chart shows $TEX is testing the high for the year between $28.50 and $28.70, which has been tested in April and December. Not only is this zone visual resistance, but it also has monthly pivot resistance, with R2 and H5 of the Floor Pivots and Camarilla Equation, respectively.

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

Wired For Growth: Nigel Hunter Of Creative Agency Fuse 8 Speaks To Stockopedia

Posted: 16 Dec 2010 05:24 AM PST

Late last year there was a sense among City analysts that the floodgates would soon open for new issues on the Alternative Investment Market. A bleak year in 2009 that had seen many more companies leave the market than join its ranks was consigned to history and expectations were high that pent up demand among companies and their advisors would fuel a new wave of IPOs. As it turned out, investors were more cautious and while an increasing number of deals did get away, it was a mere sprinkling … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Time For America To Wake Up To Brazil

Posted: 15 Dec 2010 10:00 PM PST

When it comes to the BRICs, Brazil is sometimes an afterthought. China and India are burgeoning global powerhouses with more than 1 billion people each. Russia is a former military superpower looking to transition into an economic one.
Somewhere in the middle lies Brazil. It's the largest country in South America, both in terms of size and population, with just over 200 million people. The country is poised to overtake France and Britain as the world's fifth-largest economy and will play … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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