Monday, January 10, 2011

DailyMarkets.com - The Day Ahead: Earnings, US Wholesale Inventories

DailyMarkets.com - The Day Ahead: Earnings, US Wholesale Inventories


The Day Ahead: Earnings, US Wholesale Inventories

Posted: 10 Jan 2011 04:00 PM PST

01/11/10 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


Forex – NZD/USD Down During The Asian Session

Posted: 10 Jan 2011 03:50 PM PST

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

NZD/USD was trading at 0.7628, down 0.10% at time of writing.

The pair was likely to find support at 0.7552, Thursday's low, and resistance at 0.7682, Wednesday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and down against the Euro, with AUD/NZD shedding 0.08% to hit 1.3029 and EUR/NZD rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: USD/JPY Finding Some Short Term Support Around 82.66

Posted: 10 Jan 2011 03:42 PM PST

Shown below you can see that the USD, over the past nine hours, has not been able to move lower through the 50.0% line on the move from January 4th lows to the high on the 10th. The pair could not close below 82.882 from January 5th util today when it moved and closed below the line, and found the 50.0% level at 82.668. If support continues the next topside level would be 82.905, but a weakening in the USD may see the pair visit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hot Option Plays: No Trend Reversal Has Materialized Yet

Posted: 10 Jan 2011 03:18 PM PST

Cusick's Corner
The market is at excessive levels and in condition of being overbought (with no real selling except for a small amount last week); no trend reversal has materialized yet. There are two ways that this environment can work itself out: 1) by grinding in a range, which the Small Caps (IWM) have been doing or 2) a correction comes into play. A consolidation, like what we have seen in the Consumer and Small Cap names, is already in play and both are lagging the overall market … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Trade Ideas For Tuesday, January 11

Posted: 10 Jan 2011 03:13 PM PST

( click to enlarge )

Force Protection, Inc. (NASDAQ:FRPT) is breaking out of an ascending triangle pattern with good volume support and found some resistance just below the $6 level. It looks good to continue its upward trend. The bias remains bullish in nearest term. Immediate resistance is now at $5.98. Break above that level could trigger further bullish momentum towards $6.30 area.

( click to enlarge )

In order to stage a bullish trend reversal, Canadian Solar Inc. (NASDAQ:CSIQ)  needs … [visit site to read more] or compare Best Credit Cards and Best CD Rates


GE Gets $576 Million Contract

Posted: 10 Jan 2011 03:05 PM PST

General Electric Co (NYSE:GE) has won a $576 million U.S. Navy contract to replace, repair and support components of the engine used on F/A-18 and EA-18G aircraft. The contract has a duration of three years and will be executed at Jacksonville, Florida.
GE has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like services business. 
Infrastructure businesses from GE … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Home Inns Expands In China

Posted: 10 Jan 2011 03:05 PM PST

Shanghai-based Home Inns & Hotels Management Inc (HMIN) is all set to capitalize on China’s secular growth story by further increasing its presence in that country. Home Inns is planning to expand its portfolio in China from 818 hotels in 2010 to 1,100 by the end of 2011.
The company is targeting to open 260 to 280 hotels in 2011, as compared to 208 hotels opened in 2010, thus expanding its portfolio by more than 30% in China. Home Inns will open 100 to 110 new hotels as leased-and-operated … [visit site to read more] or compare Best Credit Cards and Best CD Rates


AngioDynamics Remains Neutral

Posted: 10 Jan 2011 03:05 PM PST

We reiterate our Neutral recommendation for therapeutic and diagnostic devices maker AngioDynamics (NASDAQ:ANGO). The company produced a mixed-bag in second-quarter fiscal 2011 with earnings beating the Zacks Consensus Estimate by a penny while revenues missing the forecast. Despite a modest decline in sales, profit rose 4.8% year over year on the back of management's cost containment measures. The company backed its outlook for fiscal 2011.
Healthy double-digit growth at the Oncology division was … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Neutral On Procter & Gamble

Posted: 10 Jan 2011 02:35 PM PST

We are maintaining our Neutral recommendation on Procter & Gamble Co. (NYSE:PG).
Procter & Gamble reported an EPS of $1.02 per share for the first quarter of fiscal 2011, up 5.2% from 97 cents in the year-ago period, beating the Zacks Consensus Estimate of $1.00. Revenues were $20.1 billion, up 0.2% compared with the year-ago quarter's $19.8 billion and missing the Zacks Consensus Estimate of $20.2 billion.
A major growth driver for Procter & Gamble has been the continual expansion … [visit site to read more] or compare Best Credit Cards and Best CD Rates


GOL Linhas Traffic Surges

Posted: 10 Jan 2011 02:35 PM PST

Brazil's largest low-fare airline operator, GOL Linhas Aereas Inteligentes S.A. (NYSE:GOL) reported passenger traffic for December 2010 in comparison with December 2009. Total traffic surged 4.5% with domestic traffic increasing 4.7% and International traffic up 3.1% year over year.
The prime reason for the significant increase in passenger traffic was the recovery in market conditions and particularly the emerging economies like Latin America. Fuel prices have also reduced to their mid-80s from … [visit site to read more] or compare Best Credit Cards and Best CD Rates


JinkoSolar Expands In U.S.

Posted: 10 Jan 2011 02:05 PM PST

JinkoSolar Holding Co. Ltd. (JKS), a solar energy company, signed a deal with California-based Premier Power Renewable Energy to supply 1.3 megawatts of multi-crystalline solar modules to the latter. The contract will be executed during the first quarter of 2011. Financial terms of the deal were not disclosed. 
The agreement strengthens Chinese company JinkoSolar's footing in the U.S. solar supply market. The company emphasizes in low-cost production of solar products with the help of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Alcoa Leads Off With A Beat

Posted: 10 Jan 2011 02:05 PM PST

Alcoa (NYSE:AA) cut the tape on a new earnings season today with better-than-expected EPS and revenue for its fourth quarter.
Now, we could debate whether or not AA is a good bellwether all day long, but it is, nonetheless, nice to see this aluminum giant with a rather positive report to begin an earnings season that many are excited about.
Excluding items, Alcoa earned 21 cents per share in the fourth quarter, which soared above last year’s penny profit. The result also beat the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up At The End Of U.S. Session

Posted: 10 Jan 2011 01:55 PM PST

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

EUR/USD was trading at 1.2950, up 0.33% at time of writing.

The pair was likely to find support at 1.2874, today's low, and resistance at 1.3325, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.17% to hit 0.8316 and EUR/JPY falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Closing Bell Market Monitor: DUK, SNN, RSH

Posted: 10 Jan 2011 01:50 PM PST

01/10/11 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


A Cynically Hip Sign Of The Times

Posted: 10 Jan 2011 01:49 PM PST

It was nearly a year ago when I made reference to the big assumption underlying most efforts to reverse the tide of rising red ink and economic destruction unleashed by the Great Unraveling:
Throughout the financial crisis, policymakers have focused on keeping things afloat until the storm passes. They’ve spent vast sums of taxpayer funds trying to jumpstart growth until the economy is back on track. They’ve encouraged people to keep the faith until businesses start hiring again.
But what … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 10 Jan 2011 01:40 PM PST

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

USD/JPY was trading at 82.71, down 0.51% at time of writing.

The pair was likely to find support at 81.89, Wednesday's low, and resistance at 83.69, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.32% to hit 1.2948 and GBP/USD rising 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Salesforce Acquires Dimdim

Posted: 10 Jan 2011 01:35 PM PST

Last week, the leading on-demand customer relationship management (CRM) and cloud computing company Salesforce.com Inc. (NYSE:CRM) completed the acquisition of web-based video conferencing firm, Dimdim. The acquisition will cost Salesforce $31.0 million in cash.
Founded in 2007, Dimdim provides a cloud-based real-time communications platform. Salesforce believes that Dimdim's technology will better complement its existing collaborative cloud offering, known as Chatter (introduced in June … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Ross On Positive Comps Streak

Posted: 10 Jan 2011 01:35 PM PST

Ross Stores Inc. (NASDAQ:ROST), the second largest off-price retailer of apparels and home accessories, recently marked the 11th consecutive quarter of positive comparable store sales trend, clocking 4.0% for the five-week period ended January 1, 2011. Ross also upgraded its outlook for the fourth quarter of fiscal 2010.
Regionally, Florida acted as the catalyst for the increase in comparable store sales. Categories like Juniors and Dresses left a positive footprint on results. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


MetLife Trades $500M Notes

Posted: 10 Jan 2011 01:35 PM PST

Last week, MetLife Inc.'s (NYSE:MET) unit, MetLife Institutional Funding II, sold 1.25-year year floating-rate notes worth approximately $500 million in the 144A private placement market, according to Reuters.
These floating-rate notes were issued at a price of $100.00, maturing on July 12, 2012.  The non-callable notes are projected to have a coupon rate of 40 basis points over the existing 3-month LIBOR rate. Interest on the notes is payable quarterly, in equal instalments, commencing … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Logical Conclusion Of Protectionism

Posted: 10 Jan 2011 01:33 PM PST

From Don Boudreaux:
Reductios work so well when arguing against proponents of economic nationalism (that is, "protectionists") because, economically and morally speaking, there is absolutely no difference between Suzy trading with Joe her next-door neighbor and Suzy trading with Jose in Mexico, Josef in Austria, or Javu in China.  None.

So when any protectionist argues, based on reason X, for restrictions on trade drawn along national political borders, it's always enlightening to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 10 Jan 2011 01:25 PM PST

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

EUR/USD was trading at 1.2948, up 0.32% at time of writing.

The pair was likely to find support at 1.2874, today's low, and resistance at 1.3325, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8316 and EUR/JPY falling 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Is Something Brewing With San Miguel Brewery (SMB)?

Posted: 10 Jan 2011 01:19 PM PST

Is something brewing with San Miguel Brewery (SMB) as of late? That is the question. Based on its price action for the last month or so, it looks like that the company is on to something. As you can see from its daily chart, SMB had sprung sharply from just below PHP 10.00 to a high of PHP 31.90 in an almost vertical fashion. After marking the said high, SMB has since consolidated into an ascending triangle. Remember that in an ascending triangle, the buyers are the ones who are more … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Two ETFs To Reap Earnings Growth In Financials

Posted: 10 Jan 2011 01:18 PM PST

Despite facing new and fresh stress tests, large-cap financial institutions appear to be positioned for earnings-per-share growth in 2011, making the Financial Select Sector SPDR (XLF) and the iShares Dow Jones US Regional Banks Index Fund (IAT) attractive.
According to an article in Barron's magazine, Credit Suisse expects large-cap financial institutions like Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), PNC Financial Services (NYSE:PNC), US Bancorp (NYSE:USB) and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Markets Mixed At Close; Dow Jones Down 0.32%

Posted: 10 Jan 2011 01:10 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average fell 0.32%, the S&P 500 index shed 0.14%, while the Nasdaq 100 index climbed 0.34%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 1.64%; Germany's DAX shed 1.31%; Britain's FTSE 100 declined 0.47%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Novatel To Launch 4G MiFi

Posted: 10 Jan 2011 01:06 PM PST

Novatel Wireless Inc. (NASDAQ:NVTL) will soon introduce its first 4G MiFi mobile intelligent hotspots with Verizon Wireless (NYSE:VZ). The MiFi 4510L will be available for Verizon's super-fast LTE mobile broadband network. Verizon has started deploying LTE networks in different parts of the U.S. from early December 2010.
Novatel has already launched its MiFi 2200 series products with Verizon that received encouraging market traction. Verizon's LTE mobile broadband network is expected to support … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Parker-Hannifin Acquires HDA

Posted: 10 Jan 2011 01:06 PM PST

Parker-Hannifin Corporation (NYSE:PH) has acquired a Brazilian manufacturer of hydraulic filters and accessories, HDA Acessorios e Equipamentos Ltd. The hydraulic filters and accessories made by HDA are used by the companies operating in mobile equipment, industrial and agriculture markets and having offices and manufacturing location in Sao Paulo.
Revenue from the acquired HDA business will report in Parker's Industrial segment and the business will be added to Parker Latin America Group. HDA … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURCHF Tests Support At 1.2525/32 Area

Posted: 10 Jan 2011 12:55 PM PST

The EURCHF has support from a pennant formation, and the 200 hour MA (green line in the chart above) on the hourly chart. Looking at the 5 minute chart the 100 hour MA is also moving toward that level.  The pair should find support against the level.  A break should solicit some short term … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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

Posted: 10 Jan 2011 12:45 PM PST

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

GBP/USD was trading at 1.5575, up 0.18% at time of writing.

The pair was likely to find support at 1.5407, Friday's low, and resistance at 1.5628, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.14% to hit 0.8314 and GBP/JPY falling 0.27% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Cosan To Acquire Zanin

Posted: 10 Jan 2011 12:35 PM PST

Sugar and ethanol producer Cosan Limited (NYSE:CZZ) entered into a definitive agreement to acquire Usina Zanin Acucar e Alcool Ltda. (Zanin), a sugarcane producer based in the Araraquara region. Completion of the transaction is subject to satisfaction of certain required conditions.
As per the memorandum of understanding signed between the companies, Cosan will acquire all the outstanding shares of Zanin for R$142 million as well as assume debts of approximately R$236.6 million. Cosan intends … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Sector Watch: Consumer, Retail, Medical

Posted: 10 Jan 2011 12:35 PM PST

In my weekly Earnings Trends report, I rank the 16 economic sectors on a wide variety of earnings and sales metrics. The report just looks at the 500 firms in the S&P 500, not the whole Zacks Universe. However, since it is organized by the individual metric, such as Annual Earnings Growth or P/E, it can be hard to get an overall picture of a given economic sector.

In these posts I will try to rectify that. Since there is a lot to write about in each sector, I will cover four sectors in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Honeywell’s Expectation For FY11

Posted: 10 Jan 2011 12:35 PM PST

Strong 2010 performance increased Honeywell International Inc.'s (NYSE:HON) expectations for 2011. Sales for the year are expected by the company to grow by 6% to 9% year over year to a range of $35 billion to $36 billion. Earnings per share, on proforma basis, are expected to be in the range of $3.50 to $3.70, representing a year-over-year increase of 17% to 24%.
The company expects free cash flow (cash flow from operations less capital expenditures) to be in the range of $3.5 billion to 3.7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Daewoo Plans For Myanmar Gas Project

Posted: 10 Jan 2011 12:35 PM PST

This article has been unpublished. Walter, need new message.
 
ARCELOR MITTAL (MT): Free Stock Analysis … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: AUDUSD Holds 100 Hour MA

Posted: 10 Jan 2011 12:19 PM PST

The AUDUSD tested the targeted 100 hour MA and found profit takers.  Tonight the Trade balance for November is due and the expectation is for a smaller surplus of 2050M vs 2625M last month.  China, a major export country for Australia, had their December Trade Balance come out weaker over the weekend.  However, China's November imports from Australia rose from $5.15 billion to $6.05 billion.   A lower Trade Balance is likely to pressure the AUD$.  The 100 hour … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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

Posted: 10 Jan 2011 12:05 PM PST

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

USD/CAD was trading at 0.9935, down 0.01% at time of writing.

The pair was likely to find support at 0.9898, Friday's low, and resistance at 1.0024, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.33% to hit 1.2949 and GBP/USD rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EUR/AUD’s Double Top And Negative Reversal Signals Target 1.29

Posted: 10 Jan 2011 11:36 AM PST

EUR/AUD

1H and 15min: If the double top seen in the 15-min chart remains intact (a rally stays under the moving averages, or at most 1.0340. Preferable the rally does not break above 1.3020. The bearish scenario is now open if the 15-min RSI dips below 30, and price declines below 61.8% retracement at 1.2982.
The RSI in the 1H chart shows a failed attempt to break 60, although it cracked it. The RSI suggests bearish continuation as soon as it dips below 40 because there is a negative … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Outlook 2011: Fear And Love In Gold Trading

Posted: 09 Jan 2011 10:00 PM PST

Wall Street has been calling gold a bubble since 2005 when it hit $500. Some media naysayers remained negative even as they wrote the headlines proclaiming record highs and saw gold rise almost 30 percent in the past 12 months.  
Interestingly, despite gold's latest run, it was still a laggard compared to many other commodities. In the commodity world, gold didn't even place in the top half in 2010. Against a basket of 14 commodities that includes everything from aluminum to wheat, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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