Monday, December 6, 2010

DailyMarkets.com - Forex – EUR/USD Up During The Asian Session

DailyMarkets.com - Forex – EUR/USD Up During The Asian Session

Forex – EUR/USD Up During The Asian Session

Posted: 06 Dec 2010 06:05 PM PST

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

EUR/USD was trading at 1.3316, up 0.06% at time of writing.

The pair was likely to find support at 1.3061, Thursday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8462 and EUR/JPY falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Singapore Stock Market Update For Tuesday 07 December

Posted: 06 Dec 2010 06:03 PM PST

Morning Highlights

There Are No Quick Picks For Today!
Singapore market opened slightly lower, with STI down 4.14 points to 3177.27.

Citi starts Yanlord at ‘buy’, target $2.38

OCBC ups Venture target to $12.10, keeps ‘buy’

Watch Out For Economic News Today

U.S IBD/TIPP Economic Optimism (Dec) 

Corporate Announcements

NOL announced its shipping operating performance for the four weeks (Period 11) from 16 October to 12 November. Volumes in FEU terms rose 6% YoY and are up 23% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Case For Gold

Posted: 06 Dec 2010 05:40 PM PST

A Valuable Commodity with Rising Demandand Declining Production

Worldwide demand for gold is rising while new mine production has stalled. Key gold producing countries like South Africa, Australia and the United States, which account for about one third of the global output, have seen production decline substantially over the last five years. As more investors enter the market and developing nations add to their reserves, the supply side of gold mining is running at a significant … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Down During The Asian Session

Posted: 06 Dec 2010 05:35 PM PST

Forex Pros – The Euro was lower against the Japanese Yen on Tuesday.

EUR/JPY was trading at 109.68, down 0.30% at time of writing.

The pair was likely to find support at 109.62, today's low, and resistance at 111.19, Thursday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.11% to hit 1.3293 and EUR/GBP falling 0.11% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Down Is The New Up

Posted: 06 Dec 2010 05:22 PM PST

 
(Source: Image.)
Before the events of the past few years, Americans believed the path of least resistance was up when it came to matters of economics, business, and finance. Growth was normal and anything less was just a temporary aberration. In the long run, the conventional wisdom had it, output, revenues, profits, salaries, and living standards improved, so they needed to think in those terms. In fact, people were encouraged — and no small number became firmly convinced — that they … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Tuesday: DryShips, Key Energy Services, Uranium Resources, Rubicon Minerals, OceanFreight, Cell Therapeutics

Posted: 06 Dec 2010 05:10 PM PST

( click to enlarge )
This morning, Morgan Stanley (NYSE:MS) raised its price target for  DryShips Inc. (NASDAQ:DRYS) to $9.50 from $9, while repeating his Neutral rating. Morgan Stanley reports that, “Although we see attractive drill ship demand dynamics and view the proposed private transaction positively (as it would remove some uncertainty around drill ships financing); we remain Neutral rated given DRYS's less positive record of managing fleet growth through the cycle and a higher risk … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Down During The Asian Session

Posted: 06 Dec 2010 04:45 PM PST

Forex Pros – The British Pound was lower against the Japanese Yen on Tuesday.

GBP/JPY was trading at 129.74, down 0.12% at time of writing.

The pair was likely to find support at 129.49, Friday's low, and resistance at 131.76, Thursday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.07% to hit 1.5705 and EUR/GBP falling 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plains E&P Advances Plans

Posted: 06 Dec 2010 04:05 PM PST

Plains Exploration & Production Company (NYSE:PXP) has updated its natural gas derivative positions for 2011 and 2012 and also provided details on its Gulf of Mexico (GOM) divestments.
Hedge Positions
Plains Exploration & Production announced that its has hedged nearly 200,000 MMBtu per day of 2011 natural gas production under three-way collars having a floor price of $4.00 with a limit of $3.00 and a weighted average ceiling price of $4.92. The company has also hedged 160,000 MMBtu per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Verizon Launches 4G Wireless Broadband Network

Posted: 06 Dec 2010 04:00 PM PST

12/06/10 After much anticipation, Verizon officially gave the thumbs up to the Sunday launch of its 4G wireless broadband network in 38 US … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The Asian Session

Posted: 06 Dec 2010 03:50 PM PST

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

NZD/USD was trading at 0.7607, down 0.15% at time of writing.

The pair was likely to find support at 0.7403, Wednesday's low, and resistance at 0.7675, Friday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.10% to hit 1.2982 and EUR/NZD falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ELP Upgraded To Neutral

Posted: 06 Dec 2010 03:35 PM PST

We recently upgraded our recommendation for Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL, a fully integrated electric utility of Brazilfrom Underperform to Neutral.
The company is one of the leading Brazilian electric utility companies and accounts for approximately 7.0% of total electricity production in the region, with 99% of its production derived chiefly from hydroelectric sources.
With the global economy reviving gradually from the recent crisis, demand for electricity is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

OGE Energy Hikes Dividend

Posted: 06 Dec 2010 03:35 PM PST

In order to share more profits with its shareholders, the board of directors of OGE Energy Corporation (NYSE:OGE) increased the company’s quarterly dividend to $0.375 per share from $0.3625.
The increase is effective with the first-quarter 2011 dividend of $0.375 per common share of stock, to be paid on January 28, 2011, to shareowners of record as on January 10, 2011. This raises the annualized dividend of the company to $1.50 per share from $1.45.
Over the years, OGE Energy has rewarded … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On H.J. Heinz Co.

Posted: 06 Dec 2010 03:35 PM PST

We recently reiterated our Neutral recommendation on H.J. Heinz Co. (NYSE:HNZ).
Heinz reported an EPS of 78 cents per share for the second quarter of fiscal 2011, beating the Zacks Consensus Estimate of 76 cents. The EPS was also 2.6% up compared to 76 cents in the year-ago period. Revenues were $2.61 billion, down 1.2% compared with the year-ago quarter's $2.64 billion, but missed the Zacks Consensus Estimate of $2.66 billion.
Heinz's growth in domestic businesses, strengthening international … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: RBA, BOC Rate Decision, Irish Budget Vote

Posted: 06 Dec 2010 10:30 AM PST

12/07/10 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

Eni Meets Target In Iraq

Posted: 06 Dec 2010 03:05 PM PST

Italy's Eni SpA (NYSE:E) touched the first production milestone at Zubair oilfield in Iraqunder the Zubair Technical Service Contract (TSC). The production rate has increased from approximately 183,000 barrels of oil per day (the initial production rate on the TSC effective date of February 18, 2010) to a sustained rate of over 201,000 barrels of oil per day. This was the minimum required production rate to trigger cost recovery.
The Eni lead consortium won the contract for developing the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genomic Presenting On Oncotype DX

Posted: 06 Dec 2010 03:05 PM PST

Genomic Health (NASDAQ:GHDX), an oncology based biotech company, will present results from seven studies at an upcoming breast cancer conference. The studies are related to the company's flagship product, Oncotype DX breast cancer test to predict the likelihood of cancer recurrence, patient survival within 10 years of diagnosis and chemotherapy benefit.
In October 2010, Genomic Health provided positive results from a study conducted with Oncotype DX test at the European Society for Medical … [visit site to read more] or compare Best Credit Cards and Best CD Rates

California Pizza Expands In Mexico

Posted: 06 Dec 2010 03:05 PM PST

California Pizza Kitchen Inc. (NASDAQ:CPKI), one of the leading casual dining restaurant chains, recently announced that it has opened a 6,400 square feet restaurant, which accommodates a seating arrangement for 210 guests in Jardines del Pedregal, Mexico. This is California Pizza Kitchen's ninth restaurant in Mexico, which the company opened with its franchise partner Grupo Calpik, S.A.P.I. de C.V.
The new restaurant is located in the Terraza Pedregal business center. Given its strategic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Analyst Interviews: Medical Devices Industry Outlook

Posted: 06 Dec 2010 02:35 PM PST

Industry Dynamics
 
The global medical devices industry is fairly large, intensely competitive and highly innovative with 2009 worldwide sales in excess of $220 billion. The U.S. accounts for approximately 41% of this market. The industry is divided into different segments such as Cardiology, Oncology, Neuro, Orthopedic, Aesthetic Devices and Healthcare IT ("HCIT").

The U.S. medical devices industry continues to grow at a brisk rate, thanks to an aging Baby Boomer population, high … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DeVry In Neutral Lane

Posted: 06 Dec 2010 02:35 PM PST

We recently reiterated our Neutral recommendation on DeVry Inc. (NYSE:DV).
DeVry reported an EPS of $1.03 per share for the first quarter of fiscal 2011, beating the Zacks Consensus Estimate of 95 cents. The EPS was also 35.5% up compared to 76 cents in the year-ago period. Revenues were $521 million, up 21% compared with the year-ago quarter, but missed the Zacks Consensus Estimate of $522 billion.
With a market cap of $4 billion, DeVry is a leading provider of post-secondary educational services … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ITT Acquires EchoStorm Assets

Posted: 06 Dec 2010 02:35 PM PST

ITT Corporation (NYSE:ITT) is set to acquire the business operations of closely-held EchoStorm Worldwide which delivers video and data management technology for military, government and commercial applications.
The acquisition will bolster the company’s already dominant position in airborne intelligence, surveillance and reconnaissance markets.
The acquisition is likely to be consummated by early 2011. Financial terms and conditions were not disclosed.
ITT plays an important role in vital markets, … [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: 06 Dec 2010 01:55 PM PST

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

EUR/USD was trading at 1.3307, down 0.81% at time of writing.

The pair was likely to find support at 1.2972, Wednesday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.45% to hit 0.8468 and EUR/JPY falling 0.62% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor:

Posted: 06 Dec 2010 01:44 PM PST

12/06/10 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 Up Toward The End Of U.S. Session

Posted: 06 Dec 2010 01:40 PM PST

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

USD/JPY was trading at 82.68, up 0.16% at time of writing.

The pair was likely to find support at 82.53, Friday's low, and resistance at 84.40, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.85% to hit 1.3301 and GBP/USD falling 0.38% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rio Tinto, Chinalco Form JV

Posted: 06 Dec 2010 01:35 PM PST

Rio Tinto Plc (NYSE:RIO) and Aluminum Corporation of China Limited – Chinalco (NYSE:ACH) have formed a joint venture, which will become active by fiscal 2011, in order to explore mineral deposits in China. Rio Tinto will have 49% share while Chinalco will own the balance.
Rio Tinto also extended its joint venture with Sinosteel Corporation to enhance the production in the Pilbara region by another 50 million tons of iron ore.
Rio Tinto recently, announced plans to invest $1.2 billion in its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sinopec Lands In Offshore Indonesia

Posted: 06 Dec 2010 01:35 PM PST

China Petroleum and Chemical Corporation (NYSE:CVX) to join the $6 billion-plus Gendalo-Gehem deepwater natural gas project off Indonesia’s East Kalimantan province.
Sinopec will assume an 18% interest in the project, comprising Rapak, Ganal and Makassar Straitdeep-sea blocks. The deal follows CNOOC Ltd.'s (NYSE:CEO) recent acquisition of Argentine assets from BP plc (NYSE:BP) for $7.06 billion.
Though the financial terms of the deal have not been revealed, it helps Sinopec to perk up its position. … [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: 06 Dec 2010 01:25 PM PST

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

EUR/USD was trading at 1.3303, down 0.83% at time of writing.

The pair was likely to find support at 1.2972, Wednesday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.44% to hit 0.8468 and EUR/JPY falling 0.69% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Expands Pawn Lending

Posted: 06 Dec 2010 01:20 PM PST

On Dec 2, diversified financial services company, Dollar Financial Corp. (NASDAQ:DLLR) announced that one of its wings, Dollar Financial UK Ltd., has committed to purchase a leading pawn lending Scandinavian company, Sefina Finance AB, for approximately $73 million in cash. While $58 million will be paid immediately, the balance is expected to be paid in instalments in 2011.
Based in Stockholm, Sweden, Sefina has an operating history of more than 125 years. The company provides pawn loans that are … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BMC Advances In Automation

Posted: 06 Dec 2010 01:20 PM PST

Leading large enterprise software company BMC Software Inc. (NYSE:BMC) recently acquired privately held GridApp Systems Inc. in an effort to enrich its Business Service Management (BSM) product suite. Financial details of the deal were not disclosed. 
New York based GridApp Systems is the leading provider of database automation solutions, which help businesses simplify, standardize and control their heterogeneous database assets. The solutions are cost effective and reduce complexities and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Lower; Dow Jones Down 0.17%

Posted: 06 Dec 2010 01:10 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.17%, the S&P 500 index shed 0.13%, while the Nasdaq 100 index declined 0.06%.

Meanwhile, across the Atlantic, European stock markets were mixed at close. France's CAC 40 was down 0.04%; Germany's DAX gained 0.10%; Britain's FTSE 100 climbed 0.43%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BJ’s Delivers Healthy Sales

Posted: 06 Dec 2010 01:05 PM PST

BJ's Wholesale Club Inc. (NYSE:BJ), a leading warehouse club operator in the United States, recently posted healthy sales results for the four-week period ended November 27, 2010.
After registering a growth of 3.7% in October 2010, BJ's experienced comparable club sales growth of 5% in November. For the forty-three week period, comps climbed 4.8%. Rising gasoline prices positively impacted the comparable club sales by 1.2% and 1.9% during the four and forty-three week periods, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Target Date For HGSI’s Benlysta

Posted: 06 Dec 2010 01:05 PM PST

Recently, the US Food and Drug Administration (FDA) extended the review period for potential blockbuster lupus drug candidate, Benlysta, co-developed by Human Genome Sciences Inc. (NASDAQ:HGSI) and GlaxoSmithKline plc (NYSE:GSK), by three months.
The US regulatory agency, which was to decide on Benlysta's fate on December 9, 2010, will do so on March 10, 2011. The partners are seeking approval for Benlysta as a treatment for patients suffering from systemic lupus erythematosus (SLE).
The necessity to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 06 Dec 2010 12:45 PM PST

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

GBP/USD was trading at 1.5721, down 0.31% at time of writing.

The pair was likely to find support at 1.5512, Thursday's low, and resistance at 1.5788, Friday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.36% to hit 0.8475 and GBP/JPY falling 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DryShips Strengthening Liquidity

Posted: 06 Dec 2010 12:35 PM PST

DryShips Inc. (NASDAQ:DRYS) has decided to sell $500 million worth of shares of its wholly own subsidiary Ocean Rig UDW Inc. through a private placement. The main purpose of this share offering is to finance the construction costs of the ultra deepwater newbuilding drillships under construction at Samsung Shipyard in South Korea and to exercise the option to build more ultra deepwater drillships. The private placement will reduce Dryships' holding in Ocean Rig to around 78%-80%.
DryShips recently … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks Both Cheap And Improving

Posted: 06 Dec 2010 12:35 PM PST

It is possible to develop a well diversified portfolio of firms that have the twin virtues of being cheap, and which the analysts have recently been raising their earnings estimates. A large number of analysts raising their estimates is one of the best signs around that things are getting better at the company.

In the list below, “cheap” is defined as having a FY2 P/E, which for most companies means 2011 consensus earnings estimates below 10 times. Our measure of positive earnings estimate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 06 Dec 2010 12:05 PM PST

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

USD/CAD was trading at 1.0042, up 0.02% at time of writing.

The pair was likely to find support at 1.0003, Friday's low, and resistance at 1.0272, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.69% to hit 1.3322 and GBP/USD falling 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Perfect SAT Scores: Male Vs. Female For 2010

Posted: 06 Dec 2010 11:52 AM PST

Perfect scores by gender for the 2010 SAT tests for mathematics, critical reading and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Moves Above 100 Day MA At 1.5726 But Has Additional Resistance At 1.5731

Posted: 06 Dec 2010 11:36 AM PST

 The 100 day MA on the GBPUSD comes in at 1.5726.  The
The GBPUSD is up testing the 100 day MA and the underside of the trend line that comes up from the low on Dec 2nd comes in at 1.5731.  This area should solicit some profit taking by those traders who bought lower levels today.  A move above 1.5736 will likely solicit buyers however. A move below the 1.5726 will be eyed as a clue that profit takers are entering the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Is It The Moon …. Or Lucky “Rule Of 7(0)”?

Posted: 06 Dec 2010 11:14 AM PST

Another two phases of the moon’s cycle and this month it was a perfect score. In line with the theory, the Waxing phase between November 6 and November 21 resulted in a 2.78% decline; that was almost totally offset by a 2.77% increase in the Waning phase between November 21 and December 5 (if for whatever reason you may want to enlarge this, and I have no idea why you would, click on image):

Since we’re talking about inexplicable stock market phenomena (i.e., the lunar cycle), I thought I’d … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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