Tuesday, December 7, 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: 07 Dec 2010 06:05 PM PST

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

EUR/USD was trading at 1.3261, up 0.001% at time of writing.

The pair was likely to find support at 1.3199, Friday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8416 and EUR/JPY rising 0.17% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Debunking Bernanke’s Myth

Posted: 07 Dec 2010 05:35 PM PST

In his interview with "60 Minutes", Federal Reserve (Fed) Chairman Ben Bernanke suggested it is a myth that quantitative easing implies printing money. With all due respect, Mr. Bernanke, if it looks like a duck and quacks like a duck, it is a duck!

Bernanke argues his policies do not amount to printing money, as neither currency in circulation, nor money supply has increased. This analogy is a bit like giving a loaded gun to a kid, then telling your friends that it's not a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During The Asian Session

Posted: 07 Dec 2010 05:35 PM PST

Forex Pros – The Euro was higher against the Japanese Yen on Wednesday.

EUR/JPY was trading at 111.06, up 0.31% at time of writing.

The pair was likely to find support at 109.58, Tuesday's low, and resistance at 111.12, Friday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.07% to hit 1.3270 and EUR/GBP rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Wednesday: Solarfun Power, LDK Solar, GT Solar, Oshkosh

Posted: 07 Dec 2010 05:06 PM PST

( click to enlarge )
Solarfun Power Holdings Co., Ltd. (NASDAQ:SOLF) – The violent reversal from its 200-day moving average leads the way to a retest of $8.27 support. If the stock can hold above this area we could assist to a rebound for a retest of today’s highs and a possible breakout to the upside.

( click to enlarge )
LDK Solar Co., Ltd. (NYSE:LDK), retested the 50-day mving average and failed to close over that level. We should see a potential upside if the stock manages to close … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session

Posted: 07 Dec 2010 04:45 PM PST

Forex Pros – The British Pound was higher against the Japanese Yen on Wednesday.

GBP/JPY was trading at 131.66, up 0.07% at time of writing.

The pair was likely to find support at 129.49, Friday's low, and resistance at 131.80, Tuesday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.04% to hit 1.5752 and EUR/GBP falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Juniper Wraps Up Altor Acquisition

Posted: 07 Dec 2010 04:05 PM PST

Leading networking infrastructure products and service provider Juniper Networks Inc. (NASDAQ:JNPR) wrapped up its acquisition of virtualization security technology provider Altor Networks. The acquisition cost Juniper $95.0 million in cash. 
Founded in 2007, Altor Networks has evolved as one of the leading innovator and provider of security for virtual data centers and clouds. The company developed the world's first firewall purpose-built for virtual networks, which enforces security … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Suntech Power Updates Outlook

Posted: 07 Dec 2010 04:05 PM PST

Solar panel producer Suntech Power Holdings Company Ltd. (NYSE:STP), on its Analyst Day, updated fiscal 2010 and 2011 earnings guidance. The company also announced its intention to increase its cell capacity through a joint venture.
Guidance for 2010
Suntech expects revenue for the fourth quarter 2010 in the range of $820 million to $870 million, with gross margin of 17% and operating margin in the range of 9% to 10%. Suntech expects to ship more than 1.5 Gigawatts (GW) of solar products in fiscal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Installing A Network Router And The Market

Posted: 07 Dec 2010 03:56 PM PST

Which is more excruciatingly painful: root canal or trying to get your wireless network to work. I’ve done both and I think it’s working at installing a Cisco Linksys wireless network router. After a week of trial and error, buying a new unit to replace what I thought was a defective older one and spending many hours in cues waiting to text-message with technical service people somewhere on the sub-continent during the day and from 8:00 p.m. till 2:30 a.m. when I finally gave up without a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The Asian Session

Posted: 07 Dec 2010 03:50 PM PST

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

NZD/USD was trading at 0.7568, down 0.03% at time of writing.

The pair was likely to find support at 0.7456, Thursday's low, and resistance at 0.7675, Friday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.08% to hit 1.2993 and EUR/NZD falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ford Out With 4 New Taiwan Models

Posted: 07 Dec 2010 03:35 PM PST

Ford Motor Co. (NYSE:F) has revealed that it will introduce four models in Taiwan in the next 3 to 4 years as a part of its expansion plan in the Asia-Pacific region. The company has been operating in Taiwan since 1986. In the first 11 months of 2010, it sold 31,530 vehicles in the country, up 27% from the year ago level.
Ford has been pursuing its expansion plan in the emerging countries, including Argentina, Brazil, China, India and Thailand. Through the plan, the automaker aims to tap the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

WFSL Lowered To Underperform

Posted: 07 Dec 2010 03:35 PM PST

We have recently downgraded our recommendation on Washington Federal Inc. (NASDAQ:WFSL) to Underperform from Neutral based on its sizable exposure to risky loan portfolios and rising costs.
Washington Federal's fiscal fourth-quarter 2010 earnings missed the Zacks Consensus Estimate by a nickel. Results primarily benefited from a rise in revenue and a fall in the provision for loan losses. On the other hand, weak loan demand and increase in operating expenses were among the negatives.
Though the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stryker To Jettison OP-1 For $60M

Posted: 07 Dec 2010 03:35 PM PST

Orthopedic devices giant Stryker Corp (NYSE:SYK) has forged a definitive agreement with Tokyo-based optical, medical and communication equipment manufacturer Olympus Corporation to sell its bone growth product franchise (the "OP-1" product line) to the latter for $60 million.
The deal also includes the divestiture of the Michigan-based company's manufacturing plant in Lebanon, New Hampshire. The transaction ha been cleared by the Boards of both companies.
The OP-1 product line includes OP-1 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: German Industrial Production, German Trade Balance, EIA Petroleum Report

Posted: 07 Dec 2010 03:30 PM PST

12/08/10 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

Another Acquisition By 3M

Posted: 07 Dec 2010 03:05 PM PST

3M Company (NYSE:MMM) has entered into an agreement to acquire Winterthur Technologies AG, a worldwide renowned provider of precision grinding technology, for approximately $448 million. Per share purchase value of Winterthur has been fixed at CHF 62.00 ($63.56) and has received the unanimous recommendation of Winterthur's board of directors.  
As per a binding duty, the Winterthur Chairman will allow 3M to tender his 14% shares in Winterthur. The offer, however, depends on tendering of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AutoZone Beats, Profits Up 20%

Posted: 07 Dec 2010 02:35 PM PST

AutoZone Inc. (NYSE:AZO) recorded a 20.1% increase in profit to $172.1 million in the first quarter of its fiscal 2011 from $143.3 million in the same quarter of the prior fiscal year. On earnings per share basis, profits of $3.77 were higher than $2.82 in the year-ago quarter and the Zacks Consensus Estimate of $3.43.
Net sales rose 12.7% to $1.79 billion. Domestic same store sales, i.e., sales for stores open at least one year, increased 9.5% during the quarter compared with 5.6% a year ago. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FDA OKs Conmed Tissue Device

Posted: 07 Dec 2010 02:35 PM PST

Surgical devices maker Conmed Corp (NASDAQ:CNMD) has secured approval from the U.S. Food and Drug Administration (FDA) for its new tissue sealing device for use in a broad range of surgeries. The device, dubbed Altrus Thermal Tissue Fusion System, uses thermal energy to seal, cut, grasp and dissect vessels up to 7 millimeter (mm) in size.
The market for energy-based instruments is worth roughly $1.5 billion and is reportedly growing 11% annually. The use of these devices has expanded in surgical … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nordstrom’s Comparables Rise

Posted: 07 Dec 2010 02:35 PM PST

Nordstrom Inc's (NYSE:JWN) same-store sales for November 2010 increased 5.1% compared with the same month last year. Total retail sales were $815 million, up 8.8% from $749 million in November 2009.
The company reported an increase in same-store sales of 8.2% year to date. Total retail sales improved 13.0% to $7.31 billion from $6.47 billion for the same period in fiscal 2009.
Based on same-store sales growth of 6%, Nordstrom also expects fiscal 2010 earnings in a range of $2.60 to $2.65 per … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Occidental Meets Production Target

Posted: 07 Dec 2010 02:35 PM PST

Occidental Petroleum Corporation (NYSE:OXY) along with Korea Gas Corporation has attained and sustained a 10% increase in oil production at the Zubair field, near Basra, in southern Iraq.
In January 2010, Occidental Petroleumalong with Eni, Korea Gas Corporation and Missan Oil Company signed a technical service contract with the government of Iraq to develop the Zubair Field. Occidental has a 23.44% stake in the project.
Initial production from the Zubair field was 183,000 barrels of oil a day … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Four ETFs Supported By Copper’s Supply Woes

Posted: 07 Dec 2010 02:18 PM PST

The price of copper has witnessed positive support over the last few months and imbalances in supply and demand of the base metal are expected to provide further support to prices in the near future, enabling the iPath Dow Jones Copper Index ETN (JJC), the PowerShares DB Base Metals (DBB), the iShares MSCI Chile Index (ECH) and the iShares MSCI Australia Index (EWA) to reap the benefits.
According to forecasts by analysts surveyed by Bloomberg, demand for copper is expected to outpace … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sureste Domestic Air Traffic Grounded

Posted: 07 Dec 2010 02:06 PM PST

Mexican airport operator, Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR) recorded only a 1.0% increase in passenger traffic in November 2010 compared with the year-ago period. Domestic traffic dropped 1.8% while International traffic shot up by 3.4% year over year.
Decrease in domestic traffic was primarily attributable to the 30.1% decline in passenger traffic at the Minatitlán airport. During October 2010, also Sureste recorded a 34.8% decrease in passenger traffic at the … [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: 07 Dec 2010 01:55 PM PST

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

EUR/USD was trading at 1.3263, down 0.34% 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 up against the Japanese Yen, with EUR/GBP shedding 0.63% to hit 0.8414 and EUR/JPY rising 0.64% to hit … [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: 07 Dec 2010 01:40 PM PST

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

USD/JPY was trading at 83.48, up 0.99% at time of writing.

The pair was likely to find support at 82.34, today's low, and resistance at 84.37, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.34% to hit 1.3263 and GBP/USD rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ventas Completes Sunrise Acquisition

Posted: 07 Dec 2010 01:35 PM PST

Ventas Inc. (NYSE:VTR), a leading healthcare real estate investment trust ('REIT'), has recently completed the acquisition of the full ownership of 58 high-quality senior living communities from Sunrise Senior Living Inc. (NYSE:SRZ), the largest provider of senior living services in the U.S., for $186 million (including $144 million in mortgage debt). Both the companies also modified the management agreements on the entire Sunrise portfolio.
 
Ventas previously had a 100% ownership stake in … [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: 07 Dec 2010 01:25 PM PST

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

EUR/USD was trading at 1.3264, down 0.33% 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 up against the Japanese Yen, with EUR/GBP shedding 0.64% to hit 0.8414 and EUR/JPY rising 0.67% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RAIT Financial Trust Sells Asset

Posted: 07 Dec 2010 01:20 PM PST

RAIT Financial Trust (NYSE:RAS), a real estate investment trust (REIT), has recently sold a 167-unit apartment community in Colorado for $12.95 million at a profit of approximately $1.0 million after payment of associated costs and underlying debt. The asset sale was part of the long-term strategy of the company to increase funds for re-investment through commercial real estate securitizations.
RAIT Financial Trust originally held the first mortgage and mezzanine loan on the Class-B garden-style … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gen’l Dynamics To Build Saudi Tanks

Posted: 07 Dec 2010 01:20 PM PST

Defense Contractor General Dynamics Corporation (NYSE:GD) received a $19 million contract to convert 15 of Saudi Arabia’s M1A1 tanks into the M1A2S model. The contract adds to the company's existing $58 million contract entered in 2008, and modified in 2009.
The contract was awarded to General Dynamics Land Systems, a unit of General Dynamics, by the U.S. Army TACOM Lifecycle Management Command on behalf of the Royal Saudi Land Forces.
The M1A2S model vehicles possess distinct capabilities that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Mixed At Close; Dow Jones Down 0.03%

Posted: 07 Dec 2010 01:10 PM PST

Forex Pros – U.S. stocks were mixed after the closing bell on Tuesday.

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.03%, the S&P 500 index gained 0.05%, while the Nasdaq 100 index declined 0.02%.

Meanwhile, across the Atlantic, European stock markets closed higher. France's CAC 40 was up 1.63%; Germany's DAX gained 0.68%; Britain's FTSE 100 climbed 0.66%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DineEquity To Sell 30 Applebee’s

Posted: 07 Dec 2010 01:05 PM PST

California-based DineEquity Inc. (NYSE:DIN) announced that it has inked a deal to sell 30 company-owned Applebee’s restaurants in Washington D.C and nearby areas. The financial consideration of the deal comes at $32 million. This deal will likely prove to be beneficial in reducing financing obligations and to build up a franchise-centric operation.
In October 2010, DineEquity also announced the sale of 36 company-operated Applebee’s restaurants in Missouri, Illinois and expects to close the deal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Dec 2010 12:45 PM PST

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

GBP/USD was trading at 1.5765, up 0.31% at time of writing.

The pair was likely to find support at 1.5512, Thursday's low, and resistance at 1.5822, today's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.57% to hit 0.8420 and GBP/JPY rising 1.34% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ALICO To Earn For MetLife In 2011

Posted: 07 Dec 2010 12:35 PM PST

Yesterday, MetLife Inc. (NYSE:MET) announced its projected operating earnings growth to be more than 38% year over year in 2011, which is guided in the range of $5.1–$5.5 billion or $4.75–$5.15 per share. The raised optimism reflects the company's major acquisition of American Life Insurance Co. (ALICO) from American International Group Inc. (NYSE:AIG) last month for $16.2 billion.
The addition of the global life insurer, ALICO, is expected to diversify the company's income sources while also … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Macy’s Sales Up, Lifts Outlook

Posted: 07 Dec 2010 12:35 PM PST

Macy's Inc. (NYSE:M) recently posted better-than-expected sales results for the four-week period ended November 27, 2010, driven by robust online and Black Friday sales. Consequently, the company has lifted its outlook.
Macy's comparable-store sales for November 2010 rose 6.1%, following an increase of 2.5% registered in October 2010 and reflecting a sharp improvement from a decline of 6.1% witnessed in November 2009.
Cincinnati, Ohio-based Macy's pointed out that year-to-date … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lawsuit Slams Discover Bank

Posted: 07 Dec 2010 12:35 PM PST

Discover Bank, a unit of Discover Financial Services (NYSE:DFS) has been accused by the Minnesota attorney general of keeping customers uninformed about their buying decisions pertaing to the company's services. The lawsuit was filed in the Hennepin County District Court.
According to the lawsuit, Discover makes deceptive telemarketing calls to consumers offering them its several optional products, including an identity-theft protection, a credit-score tracker and a payment protection plan, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: Medtronic

Posted: 07 Dec 2010 12:35 PM PST

Subsequent to the announcement of Medtronic's (NYSE:MDT) second quarter fiscal 2011 results on November 23, 2010, majority of the analysts have lowered their estimates for the forthcoming period.
Second Quarter Highlights
Medtronic reported an adjusted EPS of $0.82 during the second quarter of fiscal 2011, beating the Zacks Consensus Estimate by a penny and 6% higher than $0.77 in the year-ago quarter. However, including certain charges, primarily legal, the company reported a 33% decline in EPS … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BP To Offload North Sea Assets

Posted: 07 Dec 2010 12:05 PM PST

BP Plc (NYSE:BP) appears on track with its $30 billion assets divestiture program. The British oil giant intends to dispose its North Sea assets worth approximately $1 billion, according to the Daily Telegraph newspaper. Although the newspaper stated that BP has already approached many U.K.-focused prospective buyers, management declined to comment on the news.
BP is trying to offload some of its fields and infrastructure in the North Sea that have been operational for more than forty years. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NextEra To Buy Solar Projects

Posted: 07 Dec 2010 12:05 PM PST

NextEra Energy Resources LLC, a unit of NextEra Energy Inc. (NEE) has agreed to buy four solar photovoltaic (PV) projects in Ontario, Canada from First Solar Inc. (NASDAQ:FSLR). Total capacity of these projects, located in Sombra and Moore Townships, Ontario, is estimated to be 40 megawatts (MW), capable of serving nearly 6,440 homes.
First Solar has agreed to complete construction at its Sombra and Moore Solar Energy Centers before NextEra Energy Resources' Canadian subsidiary, NextEra Energy … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 07 Dec 2010 12:05 PM PST

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

USD/CAD was trading at 1.0099, up 0.42% at time of writing.

The pair was likely to find support at 1.0003, Friday's low, and resistance at 1.0191, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.20% to hit 1.3282 and GBP/USD rising 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold – Signs Are In For A Potential Top

Posted: 07 Dec 2010 11:50 AM PST

If gold closes positive today it will be moving higher at a 76% clip.

Today will mark the 14th day of the current daily cycle. We will soon enter the timing band for the next cycle low. The dollar is now deep into the timing band for a cycle low and could bottom sometime this week.

Sentiment is starting to get frothy. Traders are starting to find reasons for why gold and silver will just continue higher indefinitely. (JPMorgan (NYSE:JPM) short squeeze)

All signs that an … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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