Friday, December 10, 2010

DailyMarkets.com - Edwards Stays Neutral

DailyMarkets.com - Edwards Stays Neutral

Edwards Stays Neutral

Posted: 10 Dec 2010 03:35 PM PST

Recently, we reiterated our Neutral recommendation on Edwards Lifesciences (NYSE:EW) with a target price of $74.00.
During the third quarter of fiscal 2010, Edwards reported revenues of $348.9 million, up 7.1% from the year-ago period. However, the growth rate would have been 12.6% excluding the negative impact of currency movement and discontinued products. Heart Valve Therapy remained the strongest segment at Edwards with an annualized growth of 15.2% to $200.6 million. Sales of surgical heart … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: News Lifts Major Averages Friday

Posted: 10 Dec 2010 03:18 PM PST

Cusick's Corner
Rates at 0%, bond yields plummeting, cash is in the market and the Bull is fully vested at this stage. While you will still hear the word "oversold" for weeks to come, that's positive for the market, especially since we settled at levels not seen since '08. Hit the blog www.xpressblog.com and check out the discussions on bullish opportunities in low implied volatility environments. Have a good weekend and see you Midday.
Upbeat economic news and a dividend increase at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Johnson Acquires German Seat Maker

Posted: 10 Dec 2010 03:05 PM PST

Johnson Controls Inc. (NYSE:JCI) signed a purchase agreement to acquire C. Rob. Hammerstein Group ("CRH"), a Solingen, Germany-based manufacturer and global supplier of metal seat structures and mechanisms. CRH has operations in nine countries and has 3,600 employees across the world.
CRH's product portfolio includes front seat structures, seat tracks, height adjusters, multi-way adjusters and power gearboxes as well as special applications such as steering column adjusters.
The acquisition … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chubb’s New Buyback Authorization

Posted: 10 Dec 2010 03:05 PM PST

In a concerted effort to increase shareholders' wealth, The Chubb Corp. (NYSE:CB) yesterday announced a fresh share buyback authorization of 30 million shares. 
During the recently concluded third quarter, the commercial property insurer Chubb repurchased 10.2 million shares for a total of $555 million at $54.63 per share. For the first nine months of the year, the average repurchased cost per share was $51.94. As of September 30, 2010, there were 6.6 million shares remaining under the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Heavy Data Week Ahead

Posted: 10 Dec 2010 02:35 PM PST

Earnings Preview 12/10/10

The third quarter earnings season is over, and we will actually start to see a handful of fourth quarter reports next week, those with November fiscal ends. Only 63 firms will report, but 6 of those will be S&P 500 firms.

We define any fiscal period ending in November, December and January to be the fourth quarter. While there are a not a lot of reports, the reports we get will provide some early clues on the fourth quarter. The firms reporting this week include: … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pacifico’s Traffic Declines

Posted: 10 Dec 2010 02:35 PM PST

Mexican airport operator Grupo Aeroportuario del Pacifico S.A.B. de C.V. (NYSE:PAC) recorded a 1.3% decrease in passenger traffic in November 2010 compared with the year-ago period. Domestic traffic and International traffic dropped 0.9% and 2.1%, respectively.
Decrease in domestic traffic was primarily attributable to the decline in passenger traffic at the Guanajuato, and Los Cabos airports. International traffic declined due to decrease in passenger traffic at Mexicali, Morelia, and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Devon Cuts Output On Line Outage

Posted: 10 Dec 2010 02:35 PM PST

Oil and gas company Devon Energy Corporation (NYSE:DVN) has cut its production by roughly 10,000 barrels per day due to outages at Enbridge Inc.'s (NYSE:ENB) pipeline network.
Devon Energy said that its Canadian heavy oil volumes have been impacted due to the recent disruptions on the Enbridge pipeline system. Enbridge’s pipelines have had temporary disruptions after the company raised apportionment levels on its main system, which carries the bulk of Canadian oil exports to the United … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: GE, THC, CYH, BEC

Posted: 10 Dec 2010 02:18 PM PST

12/10/10 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 – EUR/USD Down At The End Of U.S. Session

Posted: 10 Dec 2010 02:10 PM PST

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

EUR/USD was trading at 1.3228, down 0.08% at time of writing.

The pair was likely to find support at 1.3166, Thursday's low, and resistance at 1.3420, Monday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.28% to hit 0.8370 and EUR/JPY rising 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Positive Data From Genomic Health

Posted: 10 Dec 2010 02:05 PM PST

Genomic Health (NASDAQ:GHDX), an oncology based biotech company, presented initial data for a prostate cancer study. About 295 genes associated with clinical recurrence following radical prostatectomy were identified.
Based on encouraging data, the company will be going ahead with full clinical development of the study. Along with Cleveland Clinic, the research partner, the company plans to present complete data at ASCO in February 2011.
Successful development of the test will be beneficial for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Government Spending Growth

Posted: 10 Dec 2010 02:05 PM PST

My post Wednesday on the growth of government employment (all levels) relative to population growth (see “Government Job Growth and Population”) has generated far more comment activity than most Zacks posts. Several of the commenters raised very valid points and suggested other related things to look at.

I thought it would be worthwhile to go down a few of those paths. Just to be clear here, we are talking about total government spending — Federal, State and Local, not just Federal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

National Semi Trending Down

Posted: 10 Dec 2010 02:05 PM PST

National Semiconductor Corporation's (NYSE:NSM) earnings for the second quarter ended November 2010 came in 2 cents over the Zacks Consensus estimate of 32 cents.
National Semi's revenues clearly disappointed, with a corresponding negative impact on the gross and operating margin lines. However, the tax rate was lower, helping the company deliver numbers slightly ahead of consensus expectations.
While National Semi's surprise history has not really been spectacular, the 5.9% positive … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 02:05 PM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 83.95, up 0.24% at time of writing.

The pair was likely to find support at 82.34, Tuesday's low, and resistance at 84.30, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.08% to hit 1.3228 and GBP/USD rising 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 02:00 PM PST

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

GBP/USD was trading at 1.5803, up 0.21% at time of writing.

The pair was likely to find support at 1.5656, Monday's low, and resistance at 1.5861, today's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.28% to hit 0.8370 and GBP/JPY rising 0.46% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Washing Windows Hanging Off A Rope; I Hope They Are Paid More Than Those Washing The Other Side

Posted: 10 Dec 2010 01:48 PM PST

Here’s one example of why men might earn more on average than women: they tend to far outnumber women in jobs that are very dangerous, and therefore highly-paid: coal mining, working on oil rigs, fishing, farming, logging, excavation, construction and window-washing, etc.  I took the picture above of two window-washers hanging off the AEI building today on ropes, with no obvious safety equipment other than the normal-size ropes attached to something on the top of the building (notice the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 01:40 PM PST

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

EUR/USD was trading at 1.3230, down 0.06% at time of writing.

The pair was likely to find support at 1.3166, Thursday's low, and resistance at 1.3420, Monday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.30% to hit 0.8369 and EUR/JPY rising 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tenneco Prices Private Offering

Posted: 10 Dec 2010 01:35 PM PST

Tenneco Inc. (NYSE:TEN) announced that it has priced a private offering of $500 million of 6 7/8% senior notes due December 15, 2020. The company will use the net proceeds to purchase any or all of its outstanding $500 million 8 5/8% senior subordinated notes, tendered recently, to redeem any of such notes that are not tendered and to pay fees, premiums, expenses and accrued interest related to the tender offer or redemption.
These transactions are expected to reduce Tenneco's annual interest … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 01:25 PM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 83.96, up 0.26% at time of writing.

The pair was likely to find support at 82.34, Tuesday's low, and resistance at 84.30, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.01% to hit 1.3237 and GBP/USD rising 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

APS Expands Its AZ Sun Program

Posted: 10 Dec 2010 01:20 PM PST

Arizona Public Service Co. (APS), a unit of Pinnacle West Capital Corporation (NYSE:PNW), has made ties with SunEdison, a subsidiary of MEMC Electronic Materials (NYSE:WFR), for the construction of two photovoltaic (PV) power plants under its AZ Sun program.
Under the contract, SunEdison will develop two PV plants at Hyder and Chino Valley, which are located 40 miles east of Yuma and 15 miles north of Prescott, respectively. Combined capacity at these plants is expected to be 37 megawatts, with … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY: Weekend Technical Commentary

Posted: 10 Dec 2010 01:18 PM PST

U.S. Markets Close Higher; Dow Jones Up 0.35%

Posted: 10 Dec 2010 01:10 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.35%, the S&P 500 index gained 0.60%, while the Nasdaq 100 index climbed 0.63%.

Meanwhile, across the Atlantic, European stock markets were mixed at close. France's CAC 40 was down 0.02%; Germany's DAX gained 0.60%; Britain's FTSE 100 climbed 0.09%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD: Weekend Technical Update

Posted: 10 Dec 2010 01:05 PM PST

UTX Reaffirms 2010 Outlook

Posted: 10 Dec 2010 01:05 PM PST

United Technologies Corp. (NYSE:UTX) reaffirmed its 2010 earnings per share guidance of $4.70 on sales of $54 billion.  It also guided 2011 earnings per share at $5.05 to $5.35, a year-over-year growth of 7% to 14%.  Revenues for 2011 are expected to be $56 billion to $57 billion, up 4% to 6% from prior-year period reflecting 3% to 5% organic growth.
Pratt & Whitney, a group company, has delivered the first F135 Short Take Off/Vertical Landing engine for the F-35 Lightning aircraft, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On MannKind

Posted: 10 Dec 2010 01:05 PM PST

We are maintaining our Neutral recommendation on MannKind Corporation (NASDAQ:MNKD) with a target price of $7.50.
MannKind is a Valencia, California-based biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes, cancer and inflammatory and autoimmune diseases. The company's lead pipeline candidate, Afrezza, is an inhaled insulin for the treatment of type I or type II diabetes.
MannKind filed a New Drug Application (NDA) for Afrezza … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bulls Find Lululemon Call Options Irresistible As Shares Soar

Posted: 10 Dec 2010 12:54 PM PST

Bulls find Lululemon call options irresistible as shares soar
Today’s tickers: LULU, IRM, GAP, SNDK, STI & DFS
Lululemon Athletica, Inc. (NASDAQ:LULU) – Shares of the yoga clothing and accessories maker stretched and lengthened up to new all-time highs yet again today, attracting bullish options players more than willing to flex their call-buying muscles in the December and January 2011 contracts. LULU’s shares jumped more than 8.95% to secure an intraday- and new all-time high of $69.25 in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 12:45 PM PST

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

GBP/USD was trading at 1.5809, up 0.24% at time of writing.

The pair was likely to find support at 1.5656, Monday's low, and resistance at 1.5861, today's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.31% to hit 0.8368 and GBP/JPY rising 0.42% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Edison Ups Quarterly Dividend

Posted: 10 Dec 2010 12:35 PM PST

Electric utility, Edison International (NYSE:EIX) boosted its quarterly dividend to 32 cents per share. The company will now pay an annual dividend of $1.28 per share compared to $1.26 previously. This move lifts the company's dividend 1.6% over last year's dividend.
Edison International said that the dividend will be paid on January 31, 2011 to share holders of record as of December 31, 2010.
The board of directors of Edison said the modest increase in the dividend balances the substantial … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CME Acquires Elysian System

Posted: 10 Dec 2010 12:35 PM PST

Expanding its clearing services operation, yesterday CME Group Inc. (NASDAQ:CME) announced the acquisition of London-based Elysian Systems Ltd. for an undisclosed price. The full integration with CME's clearing services is expected in 2011. However, other terms are yet to be revealed.
Elysian Systems is an independent provider of electronic trading and market technology. The company's technology is globally used by more than 200 banks, brokers and exchanges through over 1400 screens, its most … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD:Weekend Technical Review

Posted: 10 Dec 2010 12:18 PM PST

Three ETFs To Play Canada’s Rich Supply Of Resources

Posted: 10 Dec 2010 12:17 PM PST

With its array of natural resources, supply of commodities and enviable banking system, Canada remains relatively appealing and poses an opportunity for investors.
The democratically governed nation is one of the world's largest trading nations and is a net exporter of energy. In fact, Canada boasts the world's second largest oil reserves, behind Saudi Arabia, as well as ample supplies of natural gas and nuclear energy. Due to its abundance of energy-related resources, the maple-leaf nation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Drops On USD Strength, China Rate Concerns

Posted: 10 Dec 2010 12:10 PM PST

12/10/10 Crude oil futures declined as the US dollar strengthened, and as China moved to counter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morton’s Obtains Credit Facility

Posted: 10 Dec 2010 12:05 PM PST

Morton's Restaurant Group Inc. (NYSE:MRT) recently announced a credit and guaranty agreement with Goldman Sachs Bank USA, a part of Goldman Sachs Group, Inc. (NYSE:GS). Under this agreement, the restaurant company received a new five-year $70 million credit facility, which carries a short-term variable interest rate along with a leverage-based margin.
The agreement includes a $60 million senior term loan and $10 million senior revolving credit facility. It replaces the company's previous $70 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 10 Dec 2010 12:05 PM PST

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

USD/CAD was trading at 1.0089, down 0.17% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.05% to hit 1.3231 and GBP/USD rising 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Could The FTSE 100 Hit 6000 By Christmas?

Posted: 10 Dec 2010 05:34 AM PST

When Keith Skeoch, the chief executive of Standard Life Investments, predicted in August that the FTSE 100 would break the psychologically all-important 6000 level by the end of the year, eyebrows were raised around the City. After all, the market had been in decline since mid-April and while it had rebounded from the lows reached in early July, no-one was forecasting much of a break out. 
Indeed, the aftermath of the credit crunch continued to make its presence felt throughout the year. … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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