Monday, January 3, 2011

DailyMarkets.com - AIG To Sell Its Blackstone Stake?

DailyMarkets.com - AIG To Sell Its Blackstone Stake?

AIG To Sell Its Blackstone Stake?

Posted: 03 Jan 2011 11:35 AM PST

In an attempt to repay the government bailout, American International Group Inc. (NYSE:AIG) is planning to dispose its $510 million stake in The Blackstone Group (NYSE:BX).
According to the SEC filing, AIG had acquired 7% stake in Blackstone by investing $150 million in July 1998. In addition, during the initial public offering of June 2007, AIG was supposed to receive 48.8 million partnership units, being one of the Blackstone's owners at the time. The partnership units are exchangeable for common … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Allstate Sues BofA On MBS Purchase (revised)

Posted: 03 Jan 2011 11:35 AM PST

On Monday, Allstate Corp. (NYSE:ALL) filed a federal complaint against the mortgage giant, Countrywide Financial Corp., and 17 other defendants, alleging that the latter have sold $700 million of toxic investments in lieu of safe investments to Allstate in 2005, which later experienced a drastic price decline.

However, Countrywide Financial was acquired by Bank of America Corp. (NYSE:BAC) (BofA) in July 2008. Accordingly, Allstate now directly demands for justice and penalty from the leading US … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cooper Completes Hernis Acquisition

Posted: 03 Jan 2011 11:05 AM PST

Cooper Industries plc (NYSE:CBE) completed the acquisition of the Norwegian closed circuit television (CCTV) systems manufacturer Hernis Scan Systems AS, a group company of Vislink plc. The acquisition had been subjected to regulatory clearances and consent of the shareholders of Vislink plc.
Hernis specializes in making CCTV systems, designed specially for onshore and offshore oil and gas, marine and petrochemical markets worldwide. The transaction was initially announced in mid-November 2010 and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Monsanto Company

Posted: 03 Jan 2011 11:05 AM PST

Missouri-based agricultural company, Monsanto Company (NYSE:MON) is scheduled to report its first quarter results on January 6, 2010. The current Zacks Consensus Estimate for the first quarter is a penny per share.
FourthQuarter & Fiscal 2010 Summary
On October 6, Monsanto announced weak results for the fourth quarter and fiscal 2010. During the quarter, net loss was $143 million compared with a loss of $233 million in the corresponding quarter of 2009. Loss per share (excluding a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Global Portfolio Diversification: Striking The Right Balance Between Risk And Reward

Posted: 03 Jan 2011 10:53 AM PST

Global Portfolio Diversification: Striking the Right Balance Between Risk and Reward
by Carl Delfeld, Contributing Editor, Investment U
Monday, January 03, 2010: Issue #1419
As another New Year gets underway, it's traditionally a good time for many investors to rebalance their portfolios.
Question is, exactly how diversified should your global portfolio be? It's one of the trickiest issues that investors face.
Mutual funds have long been a popular choice when it comes to increasing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Rises On ISM Data

Posted: 03 Jan 2011 05:30 AM PST

01/03/11 The US dollar rebound continued this session following a surprising rise in ISM manufacturing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Trend For US Equities Is To The Upside”

Posted: 03 Jan 2011 10:29 AM PST

01/03/11 Sunrise Securities’ Ben Willis weighs in on today’s rally, and highlights this week’s key … [visit site to read more] or compare Best Credit Cards and Best CD Rates

KeyCorp Upgraded To Outperform

Posted: 03 Jan 2011 10:05 AM PST

We are upgrading our recommendation on KeyCorp (NYSE:KEY) to Outperform from Neutral, based on its strong earnings and improving fundamentals. KeyCorp's third quarter results mark its second consecutive profitable quarter since the beginning of the financial crisis in early 2008.
Third quarter net income from continuing operations came in at 19 cents per share, substantially better than the Zacks Consensus Estimate of 3 cents. This also compares favorably with a net loss from continuing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fearless Forecasts For 2011

Posted: 03 Jan 2011 10:05 AM PST

The S&P 500 is currently expected to earn about $92 per share in 2011, up from $82 in 2010. That is growth of just over 12%. However, throughout 2010, companies were far more likely to exceed estimates than fall short of them. The ratio was better than 4 to 1 in each of the four quarters.

S&P 500 Prediction

Since the end of the third quarter, more analysts have been raising estimates than cutting them. I would thus expect that when all is said and done, earnings for the S&P 500 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 03 Jan 2011 10:00 AM PST

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

NZD/USD was trading at 0.7752, down 0.63% at time of writing.

The pair was likely to find support at 0.7548, Wednesday's low, and resistance at 0.7814, Friday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.39% to hit 1.3162 and EUR/NZD rising 0.56% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Option Trader Closes Out Bull Position In Homebuilder As Rally Bites

Posted: 03 Jan 2011 09:41 AM PST

Option trader closes out bull position in homebuilder as rally bites
Today’s tickers: KBH, BAC, LNG & ZION
KB Home (NYSE:KBH) – With markets in buoyant mood to start a New Year, investors continue to buy into the homebuilding sector. On Friday we noted bullish options activity on Toll Brothers and today with homebuilders up once more we’ve picked up on the rewards one investor is cashing in on in today’s activity on fellow sector member, KB Home. On September 17 we reported how an investor was … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pfizer To Acquire Synbiotics

Posted: 03 Jan 2011 09:35 AM PST

Pfizer Inc.(NYSE:PFE) recently announced its decision to acquire Synbiotics Corp. which will form a part of Pfizer's Animal Health unit, for an undisclosed amount. Kansas City based company, Synbiotics, is a leader in the manufacturing of immunodiagnostic tests for animals.
The addition of Synbiotics' proven and effective diagnostics solutions and interesting pipeline to its Animal Health business would bolster Pfizer's aim to become a comprehensive solutions provider in the animal health … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sempra Sells California Facility

Posted: 03 Jan 2011 09:35 AM PST

Sempra Generation, a subsidiary of Sempra Energy (NYSE:SRE), has sold its 50% interest in the Elk Hills Power generation facility to Occidental Petroleum Corporation (NYSE:OXY). Occidental will pay Sempra cash plus year-end cash distribution totaling $179 million for the purchase.
The Elk Hills Power generation facility is a natural gas-fueled power plant, located near Bakersfield, California. The facility has an operating capacity of 550-megawatt. Sempra Generation and Occidental have jointly owned … [visit site to read more] or compare Best Credit Cards and Best CD Rates

J. C. Penny In Neutral Lane

Posted: 03 Jan 2011 09:35 AM PST

J. C. Penney Company Inc.'s (NYSE:JCP) well diversified supplier base, compelling private and national brands, marketing campaigns, point-of-sale technology initiatives as well as effective cost and inventory management should drive sales and margin trends over the long term. The company also remains on track to deliver comparable-store sales growth and boost market share.
Management guided comparable-store sales growth of 3% to 4% and total sales growth of 1.5% to 2.5% for fourth-quarter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Host Hotels Stays Neutral

Posted: 03 Jan 2011 09:05 AM PST

We maintain our ‘Neutral’ rating on Host Hotels & Resorts Inc. (NYSE:HST), the largest lodging real estate investment trust (REIT) in the U.S.
Host Hotels is one of the largest owners of luxury and upper-upscale hotels, primarily operated under premium brands, such as Marriott, Westin, Sheraton, Ritz-Carlton, Hyatt, W, Four Seasons, and St. Regi. Based in Bethesda, Maryland, Host Hotels owns properties and conducts operations through Host Hotels & Resorts. L.P., which is a limited … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pfizer To Acquire Synbiotics

Posted: 03 Jan 2011 09:05 AM PST

Pfizer Inc.(NYSE:PFE) recently announced its decision to acquire Synbiotics Corp. which will form a part of Pfizer's Animal Health unit, for an undisclosed amount. Kansas City based company, Synbiotics, is a leader in the manufacturing of immunodiagnostic tests for animals.
The addition of Synbiotics' proven and effective diagnostics solutions and interesting pipeline to its Animal Health business would bolster Pfizer's aim to become a comprehensive solutions provider in the animal health … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down At The End Of European Session

Posted: 03 Jan 2011 09:00 AM PST

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

EUR/USD was trading at 1.3371, down 0.13% at time of writing.

The pair was likely to find support at 1.3085, Wednesday's low, and resistance at 1.3424, Friday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.66% to hit 0.8632 and EUR/JPY rising 0.37% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ph.D. Jobs: What’s Hot (Econ), What’s Not (History)

Posted: 03 Jan 2011 08:52 AM PST

From today’s Inside Higher Ed:

“During the 2009-10 academic year, the number of positions listed with the American Historical Association dropped by 29.4 percent, according to a study the group will release today. That follows a 23.8 percent drop the year before. Last year, the association announced that the number of listings it received — 806 — was the smallest in a decade; this year’s total of 569 marks the smallest number in 25 years.

But in data also being released this week, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Touches 2-year High Above $92

Posted: 03 Jan 2011 08:41 AM PST

01/03/11 Front month crude prices traded at a 2-year high this session following a weak dollar and optimism over the health of the US … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Pacific Initiated

Posted: 03 Jan 2011 08:35 AM PST

We are initiating coverage on Canada’s second-largest railway Canadian Pacific Railway Limited (NYSE:CP) with a Neutral rating. Currently, the stock has the Zacks Rank of #3 (Hold).
We believe Canadian Pacific is benefiting from strong volume growth and continued operating gains. Despite the choppy economic recovery, management is confident of delivering strong results with low operating ratio (defined as operating expenses as a percentage of revenue) over the upcoming years. The company remains … [visit site to read more] or compare Best Credit Cards and Best CD Rates

American Public At Neutral

Posted: 03 Jan 2011 08:35 AM PST

American Public Education (NASDAQ:APEI) has carved a unique niche for itself in the online post secondary education industry by focusing on recruits serving the U.S. military as well as federal, national, and local law enforcement personnel. Moreover, the company's part-time programs are well suited to irregular and extended work schedules of these personnel who travel and relocate frequently and have limited financial resources. This provides a significant upside potential for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Diamond Offshore To Build New Drilling Rig

Posted: 03 Jan 2011 03:35 AM PST

01/03/11 Diamond Offshore Drilling Incorporated (DO) announced Monday that it will be spending $590 million on a new drilling … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Tests Trendline Support At 81.47 Area

Posted: 03 Jan 2011 08:29 AM PST

The 100 hour MA held as per the prior post and has reversed toward trendline support at 81.47/48 currently (looking closer the support trendline comes in at 81.47). The level is a borderline that provides a low risk trading opportunity for those looking to buy.  The risk?  A break.  Profit potential? A break of the 100 hour MA at 81.69 leads to higher … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Three Sectors Ready To Lead The Stock Market In 2011

Posted: 03 Jan 2011 08:25 AM PST

The predictions are in and today begins the 2011 market year. I have read everything from the markets crashing to a 50% gain in equities this year. As with every year only time will tell and the key is to take what the market gives and be disciplined enough to capture the move up or down. The one word that summarizes all the discussions is optimism. In fact, that is the one word I would use to describe the year, optimism. The outlook is optimistic the economy will improve, jobs will grow … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will Gold Continue To Shine Brightly In 2011?

Posted: 03 Jan 2011 08:25 AM PST

Today’s Idea
Just like the Crude Oil futures market we discussed in a recent edition of XPRESSO, February Gold seems to have solid chart support at the recent lows near the 1360.00 area. Some traders who are expecting these lows to hold in the near-term may wish to sell Gold puts with a strike price below chart support. For example, with February Gold trading at 1419.20 as of this writing, the February Gold 1340 puts could be sold for about 3.80 points, or $380 per option, not including … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wimm-Bill-Dann Expands

Posted: 03 Jan 2011 08:20 AM PST

Wimm-Bill-Dann Foods OJSC (NYSE:WBD), a Russian dairy and juice company,  recently announced that it has acquired one of the leading and technologically advanced dairy plants in the Perm region. Completion of the deal is subject to the Russian Federal Antimonopoly Service approval. Financial terms of the transaction were not disclosed.
Wimm-Bill-Dann believes that the acquisition of Kungur Dairy Plant in Perm region is in sync with its growth strategy. In November 2010, the Moscow based … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Nelnet Downgraded To Neutral

Posted: 03 Jan 2011 08:20 AM PST

We are downgrading our recommendation on Nelnet Inc. (NYSE:NNI) to Neutral from Outperform.
Although the student loan reform law has barred companies such as Nelnet and SLM Corp. (NYSE:SLM), commonly known as Sallie Mae, from originating federal student loans since July, in recent years, Nelnet has expanded in areas that are independent of the federal program. Increasing revenues from its fee-based business and servicing of loans for the Education department along with restructuring initiatives … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Record Production In Petrobas Pie

Posted: 03 Jan 2011 08:20 AM PST

Petróleo Brasileiro S.A. (aka Petrobas or PBR), a Brazilian state-owned oil company, expects to hit monthly and fiscal all-time high oil production levels for December as well as full-year 2010. A significant contribution from the Campos Basin is the primary reason behind this solid expectation.
The company expects December production to reach roughly 2,120 thousand barrels per day (Mbpd). The previous record was set in April last year at 2,033 Mbpd. Petrobas also pointed out that upon … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plains E&P Disposes GoM Assets

Posted: 03 Jan 2011 08:20 AM PST

Plains Exploration & Production Company (NYSE:PXP) completed the sale of its Gulf of Mexico shallow water shelf properties to McMoRan Exploration Co. (NYSE:MMR). McMoRan paid roughly $86 million in cash and 51 million shares of McMoRan common stock in exchange for all of PXP’s interests in the shallow Gulf of Mexico assets. McMoRan had agreed to buy these assets on September 20, 2010.
Apart from becoming a majority shareholder in McMoRan through this transaction, Plains Exploration also … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Moves Back Toward Key 100 Day MA At 1.3374

Posted: 03 Jan 2011 08:05 AM PST

The key 100 day MA at 1.3374 is being approached after the 100 and 200 bar MA on the 5 minute chart held. The market is still feeling out the bias it wants to establish early in the new … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Break Lower FAILS.

Posted: 03 Jan 2011 07:59 AM PST

….and the shorts cover quickly. NO momentum yet as the first trading day of the year continues to have scared and skittish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Holds Steady Vs. Rivals After ISM PMI Data

Posted: 03 Jan 2011 07:56 AM PST

Forex Pros – The U.S. dollar remained broadly higher against its major counterparts on Monday, following a report showing that U.S. manufacturing activity rose slightly less-than-expected in December.

During European late afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.43% to hit 1.3327.

Earlier Monday, data showed that manufacturing activity in the euro zone increased more than initially forecast in December, rising to an 8-month high as rising export orders … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Extends Losses After U.S. ISM Data

Posted: 03 Jan 2011 07:49 AM PST

Forex Pros – The pound extended losses against the U.S. dollar on Monday, tumbling to a fresh daily low following a report showing that U.S. manufacturing activity rose slightly less-than-expected in December.

GBP/USD hit 1.5436 a fresh daily low, during European late afternoon trade; the pair subsequently consolidated at 1.5438, plunging 1.1%.

Cable was likely to find support at 1.5349, the low of December 29 and resistance at 1.5663, the high of December 31.

Earlier in the day, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURJPY Between Support And Resistance After Sharp Run Up

Posted: 03 Jan 2011 07:37 AM PST

The EURJPY has had a nice run up today from the lows. The move has taken the price above the 100 hour MA (blue line), the 200 hour MA (green line) but stalled at the highs from the last two days at the 108.91 level.  The subsequent move off the high has so far held the 200 hour MA at the 108.64 level. This keeps the bullish bias intact.  I expect sellers on a break below as the market longs liquidate on the failure to breach the ceiling at 108.91.  If support holds, look … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: BAC, BGP, BA

Posted: 03 Jan 2011 07:29 AM PST

01/03/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Trims Gains Vs. Euro After U.S. ISM Disappoints

Posted: 03 Jan 2011 07:28 AM PST

Forex Pros – The U.S. dollar trimmed gains against the euro on Monday after data showed that U.S. manufacturing activity rose slightly less-than-expected in December.

EUR/USD retreated from 1.3249; the pair's lowest since December 29, to hit 1.3321 during European late afternoon trade, shedding 0.5%.

The pair was likely to find support at 1.3082, the low of December 29 and resistance at 1.3423, the high of December 31.

Earlier in the day, the Institute for Supply Management said its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Today’s Top Stories: Manufacturing Data From China And US; Risk Appetite In Still Thin Conditions

Posted: 03 Jan 2011 07:24 AM PST

1. Markets Start 2011 with Risk-On Trading:
Equity markets were closed in Australia, Japan, China, and London, and so thin trading conditions continue in currency markets. We started Sunday with traders selling the EUR and buying USD, but that turned around in European trading as risk appetite reigned. The commodity bloc of currencies gained on better risk appetite, though the Canadian Dollar outperformed its Australian and New Zealand counterparts.
Oil was higher by 1% and a prominent … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 1.3.11

Posted: 03 Jan 2011 06:10 AM PST

The morning news notes as prepared by TL…Gallup Poll shows Americans more optimistic about 2011, balance sheets improving, Goldman Sachs invests in Facebook, copper at highs, unrest in Europe, and small caps v. large caps.

“Morning News Notes: January 3, 2011″

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