Wednesday, December 1, 2010

DailyMarkets.com - SurModics Cut To Underperform

DailyMarkets.com - SurModics Cut To Underperform

SurModics Cut To Underperform

Posted: 01 Dec 2010 11:35 AM PST

We are downgrading SurModics Inc. (NASDAQ:SRDX) to Underperform from Neutral following its disappointing showing in the final quarter of fiscal 2010. Our target price is $8.50.
The company missed Zacks Consensus Estimates both in terms of revenues and earnings. The below par showing was attributable to the sharp decline in revenues across all segments.
(Read our full coverage on the earnings results: SurModics Disappoints in Q4 )
Following the lackluster showing, Surmodics decided to trim its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CB&I Wins China Contract

Posted: 01 Dec 2010 11:35 AM PST

Chicago Bridge & Iron Company (NYSE:CBI) announced that it has won a contract from Liaoning Tongyi Petrochemical Co., Ltd. for the engineering design consultancy work for OCT olefins conversion and dehydrogenation units at several sites in China.
The units will produce isobutylene and propylene which are the building blocks in the petrochemical industry for a variety of finished products, including plastics and automotive components.
Chicago Bridge & Iron Company is a worldwide provider of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TARP: More Efficient Than Thought?

Posted: 01 Dec 2010 11:05 AM PST

According to an estimate released by the Congressional Budget Office (CBO) on Monday, the $700 billionTroubled Asset Relief Program (TARP), which was initiated two years back to rescue the nation's financial industry, will cost taxpayers much less than anticipated.
The CBO now anticipates the cost to come down to $25 billion from its previous estimate of $66 billion in August.The cost is even lower than the Treasury's estimate of $50 billion in October, to say nothing of its $91 billion … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fidelity Seals Bradesco Deal

Posted: 01 Dec 2010 11:05 AM PST

Electronic payment processor, Fidelity National Information Services Inc. (NYSE:FIS) announced that it has signed a deal or memorandum of understanding (MOU) with Banco Bradesco (NYSE:BBD), a Brazilian card processing bank. Financial terms of the deal were not disclosed.
Under the 10-year deal, Fidelity Processadora e Servicos S.A (FPS), Fidelity's Brazil-based card processing services company, will provide card processing, call center, collection and back-office services for Banco Bradesco's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NRG Signs Green JV With SunPower

Posted: 01 Dec 2010 11:05 AM PST

Energy generation company NRG Energy Inc. (NYSE:NRG) announced that its unit NRG Solar and SunPower Corporation (SPWRA) have entered into a joint venture agreement to produce solar power. The NRG unit will make an equity investment of $450 million in the California Valley Solar Ranch project over the next four years.
The construction work of the 250 megawatt (MW) California Valley Solar Ranch in San Luis Obispo County will begin next year. This project will create 350 jobs during the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Rebounds On Data

Posted: 01 Dec 2010 10:52 AM PST

12/01/10 The US dollar rebounded this afternoon following strong results in domestic economic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Markets In Everything: Online Jury Trials

Posted: 01 Dec 2010 10:36 AM PST

“The website eJury provides an attorney the opportunity to “pre-try” the case before it goes to trial in front of an actual jury at the courthouse.  Cases at the courthouse are usually tried to juries of 12 people.  At eJury, each case is tried to a minimum of 50 people.  This provides the attorney with a tremendous amount of feedback which he/she will use to establish a settlement value, find strengths and weaknesses in the evidence, learn “public” attitudes, improve jury … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Commerce Bancshares Outlook Raised

Posted: 01 Dec 2010 10:35 AM PST

Rating outlook of Commerce Bancshares Inc. (NASDAQ:CBSH) and its subsidiaries were upgraded by Moody’s Investors Service, a unit of Moody's Corp. (NYSE:MCO).The rating outlook was upped to "stable" from "negative". The reason behind this upward revision is the company's stable performance, solid capital and liquidity in times of challenging economic conditions in the U.S. Commerce Bank has a long-term deposit rating of “Aa2″ and a financial strength rating of “B+”.
According to the rating … [visit site to read more] or compare Best Credit Cards and Best CD Rates

2nd Leg Of Home Price Declines Underway (revised)

Posted: 01 Dec 2010 10:35 AM PST

In September, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.67% on a seasonally adjusted basis, and is up just 1.52% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) fell by 0.80% on the month and is up 0.55% from a year ago.

In August, the year-over-year gains were 2.50% for the C-10 and 1.61% for the C-20, so it looks like the year-over-year gains are rolling over. Of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tenneco To Support Nissan March

Posted: 01 Dec 2010 10:35 AM PST

Tenneco Inc. (NYSE:TEN) announced that it has started supplying emission and ride control systems to Japan's Nissan Motor (NASDAQ:NSANY) for its global supermini compact car, March (also known as Micra in some regions including India).
The systems are manufactured in the company's Asian operations. They include new manufacturing plants in Chennai and Hosur in India; Guangzhou, China and in Chonburi, Thailand. However, Tenneco has designed and developed the products (including shock absorbers and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Key ISM Sub-Indexes Deteriorate

Posted: 01 Dec 2010 10:35 AM PST

The Institute for Supply Management's (ISM) manufacturing index fell to 56.6 in November from 56.9 in October. In September it was at 54.4. This was a minor positive surprise, as the consensus had been looking for the index to fall to 56.5.

This is a "magic 50 index," where any reading over 50 indicates that the manufacturing side of the economy is expanding and any reading under 50 indicates a contraction in manufacturing. The overall index has now been above the magic 50 mark for 16 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Markets In Everything: Cash For Hair, Part 2

Posted: 01 Dec 2010 10:25 AM PST

From the New York Times last week, an article about harvesting the best hair in the world: naturally blond hair in Russia, which a “golden treasure” for the global beauty industry.  The going rate for “a 16-inch braid, the shortest length a buyer will consider, fetches about $50.” 

HT: Greg … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chesapeake Remains In Neutral Zone

Posted: 01 Dec 2010 10:15 AM PST

We maintain our Neutral recommendation for Chesapeake Energy Corporation (NYSE:CHK) following strong third quarter results and several potential shale play transactions.
After a whopping 22% increase in average daily production volumes in the third quarter, Chesapeake is guiding toward production growth of 13% for full-year 2010, and 18% for both 2011 and 2012.
Chesapeakehas been involved in several shale play deals in the past few months to raise funds for development activities. Early this year, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

America West Resources (AWSR)

Posted: 01 Dec 2010 10:15 AM PST

Zacks Investment Research has initiated coverage on America West Resources (AWSR)
America West Resources owns a coal mine in Utah that is in the transition from development to production. The mine is currently producing from only one section with a capacity of 80,000 tons of coal a quarter. Another section should be on line in the first quarter of 2011 and a third section should be in production in the third quarter of 2011.
Over the past two years the company has signed contracts for over … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURJPY. The Bullish And Bearish Sides For The Pair

Posted: 01 Dec 2010 09:50 AM PST
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