Friday, January 28, 2011

DailyMarkets.com - AEP Misses But Reaffirms Guidance

DailyMarkets.com - AEP Misses But Reaffirms Guidance

AEP Misses But Reaffirms Guidance

Posted: 28 Jan 2011 12:10 PM PST

Before the bell, American Electric Power Company Inc. (NYSE:AEP) reported its fourth quarter and fiscal 2010 results. In the reported quarter, the company with ongoing earnings of 38 cents a share came marginally below the Zacks Consensus Estimate of 39 cents. The company's results also came way below the year-ago quarterly earnings of 50 cents.
Earnings in the reported quarter were lower than the year-ago period due to lower utility earnings (5 cents), loss from property casualty (1 cent) and a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cloud Computing IBM’s Edge

Posted: 28 Jan 2011 12:10 PM PST

A leading provider of information technology (IT), International Business Machines Corp. (NYSE:IBM) announced new partnerships with leading companies and institutions for providing cloud computing solutions.
IBM's LotusLive public cloud service is helping clients by providing integrated email, web conferencing, and social networking and collaboration services. This improves the day-to-day business functioning and efficiencies and helps in developing innovative ideas much faster.
According to the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rite Aid’s Slow But Steady Comps

Posted: 28 Jan 2011 12:05 PM PST

Leading drugstore chain operator Rite Aid Corp. (NYSE:RAD) reported growth of 1.1% in same-store sales for the four weeks ended January 22, 2011. The company reported two consecutive months of same-store sales increase after 18 consecutive months of decline ever since May 2009, when it had registered positive same-store sales of 0.6%.
For the month of January, front-end same-store sales increased 2.2%. Results moved higher from an increase of 0.1% in December 2010.
Pharmacy same-store sales in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SanDisk Performs Well

Posted: 28 Jan 2011 12:05 PM PST

SanDisk's (NASDAQ:SNDK) third quarter 2010 earnings of $1.37 per share exceeded the Zacks Consensus Estimate of $1.08.
Revenue
Total revenue for the fourth quarter was $1.33 billion, up 7.0% on a year-over-year and 8.0% on a sequential basis. Revenue for the quarter was above the company's guidance range of $1.25 billion to $1.32 billion. The company benefited from strong demand in both the retail and OEM channels.
Moreover, within the embedded business (including iNAND), the OEM channel grew … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Commodity Bull? Here’s Why You Might Want To Wait Before Buying Gold

Posted: 28 Jan 2011 11:55 AM PST

Psst! I have a secret for you. Central bankers in developed markets may actually start raising interest rates some day!

Shocker, I know! But if you follow the latest market moves — and listen to some of the chatter coming out of places like Europe — that's the inevitable conclusion you arrive at.

The increasing possibility of more rate hikes is starting to drive market action in commodities, equities, and bonds. So that means we need to sit up and pay attention!

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

Revenues Grow At VeriSign

Posted: 28 Jan 2011 11:25 AM PST

Internet infrastructure services provider VeriSign Inc. (NASDAQ:VRSN) reported revenues of $179 million from continuing operations for the fourth quarter of 2010, up 13% year over year and up 4% from the prior quarter. The results beat the Zacks Consensus Estimate of $177 million.
The continuing operations of the company consist primarily of the results of the Naming Services business, which comprises Registry Services and Network Intelligence and Availability (NIA) Services. NIA Services include … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chubb Chugs Ahead Of Estimates

Posted: 28 Jan 2011 11:25 AM PST

The Chubb Corp.'s (NYSE:CB) fourth quarter operating earnings of $1.69 per share were fairly ahead of the Zacks Consensus Estimate of $1.57 led by higher premiums earned. Results also compare favorably with $1.66 earned in the prior-year quarter.
For the full year, operating income per share was $5.90, which was above the Zacks Consensus Estimate of $5.79.
Quarter in Detail
Net premiums written rose 3% year over year to $2.9 billion, driven largely by higher exposures resulting from perked up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 28 Jan 2011 11:13 AM PST

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

EUR/USD was trading at 1.3607, down 0.92% at time of writing.

The pair was likely to find support at 1.3540, Monday's low, and resistance at 1.3758, Thursday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.45% to hit 0.8583 and EUR/JPY falling 1.81% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Monster Misses Expectations

Posted: 28 Jan 2011 11:05 AM PST

Monster Worldwide, Inc. (MWW), the parent company of Monster.com, reported revenues of $255 million, up 19.7% from the year-ago quarter and up 11.4% sequentially, but missed the Zacks Consensus Estimate of $264 million. The reported figure includes a $3.3 million purchase accounting adjustment related to the HotJobs acquisition.
Excluding the purchase accounting adjustment, Monster generated revenues of $258 million, up 21% year over year. Currency translation had a $3 million negative impact … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Big Short” Paulson Continues To Be “Big Long”

Posted: 28 Jan 2011 10:46 AM PST

Back in May, I featured a CNBC report about John Paulson going from “Big Short” to “Big Long”:

“John Paulson, the hedge fund manager who reaped billions from the infamous 'Big Short" against the subprime housing market and the American financial system, is now increasing his bet on their recovery, according to recent filings.”

Today’s WSJ reports on its front page today that:

“Hedge-fund manager John Paulson personally netted more than $5 billion in profits in 2010—likely the largest … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AstraZeneca Revenues Disappoint

Posted: 28 Jan 2011 10:40 AM PST

AstraZeneca plc's (NYSE:AZN) fourth-quarter earnings came in at $1.39 per American Depositary Share (ADS), six cents above the Zacks Consensus Estimate but 2% below the year-ago figure of $1.42. Full year earnings came in at $6.71, well ahead of the Zacks Consensus Estimate of $6.62 and 6% above the year-ago earnings of $6.32.
Lower revenues led to the decline in fourth quarter earnings.
Revenues
Fourth quarter revenues declined 4% year over year to $8.6 billion. Revenues were, however, slightly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

T. Rowe Price Profit Soars

Posted: 28 Jan 2011 10:40 AM PST

T. Rowe Price Group Inc.'s (NASDAQ:TROW) fourth quarter 2010 earnings of 72 cents per share were significantly up from 57 cents reported in the prior-year quarter. Higher-than-expected top-line growth and higher assets under management (AUM), partially offset by higher operating expenses, cumulated in improved performance. The quarter's earnings also outpaced the Zacks Consensus Estimate of 69 cents. 
Net income increased 25.6% to $191.6 million from $152.5 million in the year-ago … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bulls Bulk Up On US Oil Fund Call Options

Posted: 28 Jan 2011 10:40 AM PST

Bulls bulk up on US Oil Fund call options
Today’s tickers: USO, MWW, AMCC & CLDX
United States Oil Fund, LP (USO) – Crude oil rose Friday with traders finding more than a few excuses to support chasing the United States Oil Fund higher by as much as 4.75% to an intraday high of $37.64. The exchange traded security is meant to broadly track the price of oil and had fallen sharply at the outset of the week after OPEC’s leading producer, Saudi Arabia hinted strongly that it would accommodate … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Arch Misses; Outlook Remains Strong

Posted: 28 Jan 2011 10:35 AM PST

Coal producer Arch Coal Inc. (NYSE:ACI) reported net adjusted earnings of 33 cents per share for the fourth quarter 2010, which is below the Zacks Consensus Estimate of 46 cents. For the full-year 2010, Arch Coal posted adjusted earnings of $1.14, which outperformed Zacks Consensus Estimate of $1.12 by 2 cents.
GAAP net earnings during the quarter were 29 cents per share versus 1 cent earned in the year ago quarter. GAAP earnings for the quarter included pre-tax charges related to non-cash … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SRDX Beats On EPS, Sales Slip

Posted: 28 Jan 2011 10:35 AM PST

SurModics Inc.'s (NASDAQ:SRDX) first quarter fiscal 2011 earnings (excluding special items) of $0.05 per share was well ahead of the break even earnings suggested by the Zacks Consensus Estimate. However, earnings fell short of the year-ago earnings of $0.11. The weak year-over-year performance in the first quarter of fiscal 2011 was attributable to lower revenues.
Revenues on an adjusted basis dropped 36.4% year over year to $15.4 million in the reported quarter. Revenues also fell short of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Where The Q4 Growth Came From

Posted: 28 Jan 2011 10:35 AM PST

In the fourth quarter, the economy grew at an annual rate of 3.2%, up from 2.6% in the third quarter, and up from the 1.7% pace in the second quarter of 2010. The growth rate was somewhat below consensus expectations, 3.5%, and frankly a bit lower than I was expecting. However, the quality of the growth was extremely high, so overall I would have to say that this was a very strong report.

So how did we get to the 3.2% overall growth? What parts of the economy were growing and thus adding to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 28 Jan 2011 10:33 AM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Friday after the release of U.S. data on GDP.

AUD/USD was trading at 0.9921, up 0.03% at time of writing.

The pair was likely to find support at 0.9864, Monday's low, and resistance at 1.0022, Monday's high.

Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally adjusted annual rate of 3.20% in the last quarter from 2.60% in the preceding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Earnings, Geopolitical Unrest…cause For Concern”

Posted: 28 Jan 2011 10:25 AM PST

01/28/11 Seaport Securities’ Jason Weisberg weighs in on the slide in US equities, and discusses the upcoming trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Near-Term Economic Outlook Has Improved

Posted: 28 Jan 2011 10:22 AM PST

From the conclusion of the Dallas Fed’s National Economic Update released yesterday:

Conditions Favor Growth
 
“Recent data indicate that the risks of a double-dip recession and deflation have ebbed. Although the regenerating channels of credit and finance remain vulnerable to shocks, renewed signs of a self-sustaining recovery in consumer and business spending are growing as the underlying factors behind the recession and subpar recovery continue to unwind. While housing, municipal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

When Divergences Really Matter: SPX At 1300

Posted: 28 Jan 2011 10:18 AM PST

I posted yesterday about the precarious internal situation regarding market internal and momentum divergences at the key major resistance level 1,300.
Today the divergences ultimately mattered and the market snapped-back like a rubber band early in the trading session, after slipping up into one of the most vicious bull traps in a while.
Let's take a look at the mid-day update and see how yesterday's divergences – and the tremendously weak new index high this morning – hinted at such a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Politcal Unrest In Egypt Lifts Risk Aversion

Posted: 28 Jan 2011 05:00 AM PST

01/28/11 Risk aversion has strengthened this afternoon within the forex markets following growing unrest between protesters and police in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 28 Jan 2011 09:58 AM PST

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

NZD/USD was trading at 0.7734, up 0.15% at time of writing.

The pair was likely to find support at 0.7568, Monday's low, and resistance at 0.7793, today's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.07% to hit 1.2852 and EUR/NZD falling 1.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Lower; Dax Down 0.74%

Posted: 28 Jan 2011 09:53 AM PST

Forex Pros – European stocks were down after the closing bell on Friday.

At the close of European trade, Germany's DAX fell 0.74%, London's FTSE 100 shed 1.40%, France's CAC 40 declined 1.41% and the EURO STOXX 50 was down 1.19%.

Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 1.13%; the S&P 500 index shed 1.35%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Finds Support/profit Taking Buyers

Posted: 28 Jan 2011 09:43 AM PST

The EURUSD resistance levels at 1.3618. A move above that targets 1.3636-43 again.
Key support comes in against the 1.3577-85 now where MA and Fibo support is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold And Oil Reversing Higher On Islamic Revolutions

Posted: 28 Jan 2011 09:38 AM PST

An unexpected specter is haunting the streets throughout the capitals of North Africa and the Middle East. Although revolution has been quelled for many years, dollar devaluation has caused prices of basic goods to soar in emerging economies like these. Young people are unemployed and face little opportunities in autocratic societies. Tens of thousands of young, leaderless Arabs are rioting in the streets demanding an end to pro-Western leaders. Egypt's stock market (EGPT) has been shut … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold And Silver Weekly Update – Choppiness Increases Around Support Areas; Corrective Rally?

Posted: 28 Jan 2011 09:30 AM PST

Previous post (1/27): Gold and Silver Offer Bearish Negative Reversal Signals
Gold (XAU/USD)

- Gold has found support at 1310. The daily showed that the 1315 area was a support pivot, and also coincided with 161.8% projection. So if the current wave is a C wave, it could be complete with an classic C to A swing ratio.
- A rally is strong at the moment, and should kick off a bull run.
- If we anticipate further bearish attempts, we still can expect a bull rally.
- We did complete a bearish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rises Yet Still Below $86

Posted: 28 Jan 2011 09:00 AM PST

01/28/11 Front month crude prices esperienced a slight rise this session but continued to remain limited to trading below $86 a … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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