Wednesday, January 12, 2011

DailyMarkets.com - Forex – EUR/USD Down During The Asian Session

DailyMarkets.com - Forex – EUR/USD Down During The Asian Session

Forex – EUR/USD Down During The Asian Session

Posted: 12 Jan 2011 06:05 PM PST

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

EUR/USD was trading at 1.3119, down 0.09% at time of writing.

The pair was likely to find support at 1.2874, Monday's low, and resistance at 1.3145, Wednesday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.01% to hit 0.8330 and EUR/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Right Out Of My Mouth

Posted: 12 Jan 2011 06:00 PM PST

(Image: Source.)
Sometimes I read something and it feels like the author took the words right out of my mouth. That includes this excerpt from a post at Prudens Speculari (an old friend of Financial Armageddon), entitled “Thinking”:
I have been doing a lot of thinking over the last few days to start the new year. As much as it makes my head hurt I still try to do it.
Things that I have been thinking about….

the almost universal market bullishness of CNBC … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During The Asian Session

Posted: 12 Jan 2011 05:35 PM PST

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

EUR/JPY was trading at 109.09, up 0.09% at time of writing.

The pair was likely to find support at 106.83, Monday's low, and resistance at 109.14, today's high.

Meanwhile, the Euro was down against the U.S. Dollar and up against the British Pound, with EUR/USD shedding 0.04% to hit 1.3126 and EUR/GBP rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Summary For Wednesday, January 12, 2011

Posted: 12 Jan 2011 04:47 PM PST

Stocks posted solid gains today with the major indexes making new 52-week highs. Investor participation was decent and breadth was good.  However, the number of new lows on the NYSE expanded to 42 where recently this number has been in the single digits.  One day does not make a trend but we will need to watch this closely going forward.  In the last few hours of trading stocks retreated a little but by the close the major indexes closed near their highs.  We are raising … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session

Posted: 12 Jan 2011 04:45 PM PST

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

GBP/JPY was trading at 130.87, up 0.02% at time of writing.

The pair was likely to find support at 128.33, Monday's low, and resistance at 131.16, Wednesday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.08% to hit 1.5752 and EUR/GBP rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chevron Expects 4Q To Pour Out Profits

Posted: 12 Jan 2011 04:15 PM PST

01/12/11 The Chevron Corporation (CVX) announced that it expects 4Q results to be higher than during the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: ECB And BoE Rate Announcements, US Jobless Claims, US PPI, US Trade Balance

Posted: 12 Jan 2011 11:00 AM PST

01/13/10 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: 12 Jan 2011 03:50 PM PST

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

NZD/USD was trading at 0.7625, down 0.16% at time of writing.

The pair was likely to find support at 0.7556, Friday's low, and resistance at 0.7647, Monday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.12% to hit 1.3056 and EUR/NZD rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Illumina Illuminates Results

Posted: 12 Jan 2011 03:35 PM PST

Illumina Inc. (NASDAQ:ILMN) has announced preliminary results for the fourth quarter and fiscal 2010. The company expects to report $260 million of revenues during the quarter, higher than the Zacks Consensus Estimate of $248 million.
Moreover, revenues for the fiscal is expected to be around $901 million, representing a 35% annualized growth and higher than the Zacks Consensus Estimate of $887 million. However, Illumina's adjusted EPS of 28 -29 cents (for the quarter) and $1.05-$1.06 (for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

URS Wins $47M Navy Contract

Posted: 12 Jan 2011 03:35 PM PST

URS Corporation (NYSE:URS) has won an engineering services contract to provide technical and programming support to the U.S. Naval Surface Warfare Center.
The contract has a one-year base period followed by four optional periods of one-year durations. It has a maximum value of $47 million for URS.
URS has been contracted to provide software engineering, research and analysis, development, testing and engineering support services.
URS continues to see favorable trends in the federal government … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Money Flowing Out Of Safety And Into Risk

Posted: 12 Jan 2011 03:17 PM PST

Cusick's Corner
Money is flowing out of safety and into risk, out of Gold/Bonds and into Stocks. Many of you are responding to this latest trend with a No Duh! The sector that warrants some review is Finance, XLF. This sector is critical for measuring the strength of this overall market move. XLF looks potentially ready to challenge the highs of $17 and has established support at $15. As I mentioned in the Midday, spreads could be the strategy of choice — why? Let's look at this example: I … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Top Trade Ideas For Thursday, January 13

Posted: 12 Jan 2011 03:11 PM PST

( click to enlarge )

JPMorgan Chase & Co. (NYSE:JPM)  looks strong as it is trading well above its short term moving average with rising RSI and MACD which indicates bullishness in the stock. Going forward I expect price to move up to the levels of $46 with a stop loss below $43. The immediate resistance appears at $44.95.

 ( click to enlarge )

The Accumulation/Distribution indicator is moving up, which means the buyers are driving the price move and the stock is being … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CSC Orderbook Expands

Posted: 12 Jan 2011 03:05 PM PST

After the recent acquisition of CenTauri Solutions LLC. by the technology major Computer Sciences Corp. (NYSE:CSC), the pace of deal wins has accelerated. CSC has recently signed a 10-year agreement with a diversified financial services company to license its Wealth Management Accelerator.
The new product is a browser-based life insurance and annuity administration system that allows carriers to rapidly introduce wealth management features and streamline back office administration processes.
A few … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ProLogis Releases Study Results

Posted: 12 Jan 2011 03:05 PM PST

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, recently came out  with its research on the supply chain mechanism in Europe, focusing specifically on transport collaboration. The research report, titled "Transport Collaboration in Europe," explored the various options available to individual companies to collaborate with both competitors and non-competitors in order to reduce the transportation costs.
The in-depth study analyzes the market statistics gathered … [visit site to read more] or compare Best Credit Cards and Best CD Rates

7 Days Group Accelerates Growth

Posted: 12 Jan 2011 03:05 PM PST

7 Days Group Holdings Limited (SVN), a leading economy hotel chain based in China, recently announced the opening of 231 net hotels in 2010. Among these, 85 were leased-and-operated hotels and 146 were managed hotels. The number of units opened was way ahead of the company's targeted range of 170–200 for the year.
Following an economic revival, management has embarked on an aggressive expansion plan, which will keep its pace in 2011 as well. Considering the current rate of expansion, 7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cliffs Acquires Thompson Iron

Posted: 12 Jan 2011 03:05 PM PST

North America's largest iron-ore producer, Cliffs Natural Resources Inc. (NYSE:CLF) agreed to buy Canada's Consolidated Thompson Iron Mines Ltd. for about C$4.9 billion ($4.95 billion) or C$17.25 per share, to expand iron ore sales to Asia.
Cliffs also signed a support agreement with Consolidated Thompson’s largest shareholder, Wuhan Iron and Steel of China, which owns a 19% stake in the latter. The acquisition will provide Cliffs with significant exposure to growing Asian markets.
After the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Record Fed Profits Paid To Treasury

Posted: 12 Jan 2011 02:46 PM PST

The Board of Governors recently announced a record $78.4 billion of Reserve bank earnings paid to the Treasury (and taxpayers) in 2010, up from a record $47.4 billion in 2009. These record earnings come from the growth in assets related to recent Fed policy. To the extent that outstanding Treasury debt is purchased by the Fed, the burden of interest payments on the public debt is reduced almost proportionally.
As usual, serial Fed bashers are stretching to find ways to criticize the Fed. This … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AIG Finally Sells Nan Shan

Posted: 12 Jan 2011 02:35 PM PST

After several impediments in the way of disposing American International Group Inc.'s (NYSE:AIG) Nan Shan unit in Taiwan, the company has finally decided on Ruentex Group, cement-to-supermarkets conglomerate, according to Reuters and Taiwan newspapers. While the exact price of the deal remains undisclosed, it is expected to range between $2.15 and $2.50 billion. Moreover, an affirmation from the company is still awaited.
Last month, AIG saw some light at the end of the tunnel, with handful of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Talisman Reveals 2011 Budget

Posted: 12 Jan 2011 02:35 PM PST

Canadian energy explorer Talisman Energy Inc. (NYSE:TLM) declared its production outlook and capital expenditure budget for 2011.
Talisman expects overall production growth rate of approximately 5% to 10% in 2011, with the BP Colombia acquisition adding incremental output of 12,000 to 15,000 barrels of oil equivalent per day (boe/d). Liquids production is expected to comprise half the total volume coming from North America as well as the North Sea and Colombia shale plays.
Calgary-based Talisman … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Agreement For GOL

Posted: 12 Jan 2011 02:05 PM PST

GOL Linhas Aereas Inteligentes S.A. (NYSE:GOL) has formed a code-share agreement with Qatar Airways where the latter will add its code (QR) to all the 48 GOL flights departing from Sao Paulo.  
This new agreement might help GOL Linhas in increasing its passenger traffic for the coming months. GOL Linhas has been continuously increasing the frequency of its flights to the existing high-demand markets and adding new routes. Recently, it initiated a couple of flights from Brasiliato, in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Varian Proton Therapy Cleared

Posted: 12 Jan 2011 02:05 PM PST

Leading integrated radiotherapy systems maker Varian Medical (NYSE:VAR) has secured the approval of the U.S. Food and Drug Administration (FDA) for its novel Proton Therapy System, which delivers protons for precision radiotherapy of lesions, tumors and conditions suitable for radiation treatment. It is the first system capable of delivering precise intensity modulated proton therapy ("IMPT") leveraging pencil beam scanning technology.
Proton therapy is a type of radiation treatment that uses … [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: 12 Jan 2011 01:55 PM PST

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

EUR/USD was trading at 1.3133, up 1.22% at time of writing.

The pair was likely to find support at 1.2874, Monday's low, and resistance at 1.3145, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8331 and EUR/JPY rising 0.92% to hit … [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: 12 Jan 2011 01:40 PM PST

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

USD/JPY was trading at 82.98, down 0.32% at time of writing.

The pair was likely to find support at 82.67, Monday'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 1.21% to hit 1.3131 and GBP/USD rising 1.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

KC Financial Stress Index: A Return To Normalcy

Posted: 12 Jan 2011 01:36 PM PST

The Kansas City Federal Reserve Bank calculates and reports a monthly “Financial Stress Index” (KCFSI), and it’s being featured here on Carpe Diem for the first time (see chart above, data here).  The index is described here by the K.C. Fed: 

“The KCFSI is a monthly composite index of 11 variables reflecting stress in the U.S. financial system. These variables fall into two broad categories–average yield spreads, and measures based on the actual or expected behavior of asset … [visit site to read more] or compare Best Credit Cards and Best CD Rates

JPMorgan Looks To Raise Dividend

Posted: 12 Jan 2011 01:35 PM PST

On Tuesday, JPMorgan Chase & Co.'s (NYSE:JPM) CEO Jamie Dimon commented in an interview on CNBC that the company will soon increase its annual dividend to the range of 75 cents to $1 per share. The dividend hike is expected in the second quarter of 2011.
According to Mr. Dimon, once the Federal Reserve completes stress tests of the large U.S. banks and gives its approval, JPMorgan will be among the first U.S. banks to increase its dividend. At present, the company pays an annual dividend of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DELL Extends Retail Solutions

Posted: 12 Jan 2011 01:35 PM PST

Dell Inc. (NASDAQ:DELL) recently extended its Retail Solutions portfolio, adding secure cloud support for application integration. The company expects the initiative to be particularly helpful for small and medium businesses (SMBs) that are increasingly turning to the cloud. The solutions are expected to address the SMB retailers' needs for integration of activities and data right from the storefront to the back office.
Dell's retail solutions for the storefront provide support for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Office Depot Buys Swedish Co.

Posted: 12 Jan 2011 01:35 PM PST

Office Depot Inc. (NYSE:ODP), in its streak to expand its global footprint, recently announced its plan of acquiring Swedish office supply company, Svanstroms Gruppen.
The acquisition will facilitate Office Depot to expand its European market presence, placing it among the leading office supply companies in Sweden. However, the acquisition must get clearance from Sweden's antitrust authority.
Office Depot, one of the leading suppliers of office products and services across the globe, through its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: AKS, ITT, WFC

Posted: 12 Jan 2011 01:35 PM PST

01/12/10 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

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

Posted: 12 Jan 2011 01:25 PM PST

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

EUR/USD was trading at 1.3135, up 1.24% at time of writing.

The pair was likely to find support at 1.2874, Monday's low, and resistance at 1.3145, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.15% to hit 0.8330 and EUR/JPY rising 0.93% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 0.72%

Posted: 12 Jan 2011 01:10 PM PST

Forex Pros – U.S. stocks were up after the closing bell on Wednesday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.72%, the S&P 500 index gained 0.90%, while the Nasdaq 100 index climbed 0.71%.

Meanwhile, across the Atlantic, European stock markets closed higher. France's CAC 40 was up 2.15%; Germany's DAX gained 1.83%; Britain's FTSE 100 climbed 0.61%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tetra Tech Eyes Oil Sands

Posted: 12 Jan 2011 01:05 PM PST

Tetra Tech Inc. (NASDAQ:TTEK) plans to acquire an engineering company, Fransen Engineering of Richmond, British Columbia. Employing about 180 people, Fransen provides engineering and technical support to industrial clients specializing in water treatment and tailings management for oil sands producers.
Revenue generated by Fransen in the past twelve months amounts to about $27 million. The acquisition will provide an opportunity for Tetra Tech to enter the oil sand market and provide expert … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AMMD Posts Prelim Sales, Reaffirms

Posted: 12 Jan 2011 01:05 PM PST

Leading pelvic-health devices maker American Medical Systems (NASDAQ:AMMD) has released preliminary sales data for fourth-quarter fiscal 2010. The company expects to report final results on February 15, 2011.
Revenues for the quarter edged up 0.7% year over year to $147 million, beating the Zacks Consensus Estimate of $144 million and the company's guidance of $141-$146 million. For fiscal 2010, revenues grew 4.4% to $542.3 million, also exceeding the Zacks Consensus Estimate of $539 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Constructs Three-legged Spread On Beazer Homes USA

Posted: 12 Jan 2011 12:57 PM PST

Bull constructs three-legged spread on Beazer Homes USA
Today’s tickers: BZH, HBC, MON, EBAY, ELX & PMCS
Beazer Homes USA, Inc. (NYSE:BZH) – A three-legged options combination play initiated on the homebuilder that designs, sells and builds single-family and multi-family homes in the U.S. indicates one strategist sees shares improving ahead of August expiration. Shares in Beazer Homes USA rose 1.5% this afternoon to $5.99 in the final hour of the session. The homebuilding company will reveal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Today’s FXTimes Brief (1/12): More Positive Developments Send EUR Higher

Posted: 12 Jan 2011 12:51 PM PST

Summary: Today was a day for risk appetite in European equity markets, and it helped to translate to gains in EUR pairs. Portugal's awaited debt auction went off smoothly, easing concerns about sovereign debt fears, and there was increased specualtion that some changes would be made to the European Financial Support Facility – the €450 billion euro bailout fund – that could help increase its effecting lending capabilities.

(function ($) { … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Jan 2011 12:45 PM PST

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

GBP/USD was trading at 1.5767, up 1.07% at time of writing.

The pair was likely to find support at 1.5407, Friday's low, and resistance at 1.5780, today's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.12% to hit 0.8328 and GBP/JPY rising 0.73% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

01/12 FX Options Report

Posted: 12 Jan 2011 12:35 PM PST

The EUR soared against the USD, following the Portuguese debt auction. Global equity markets rose, as ongoing euro-zone debt concerns … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GE Purchases UK Company

Posted: 12 Jan 2011 12:35 PM PST

General Electric Company (NYSE:GE) has acquired Remote Energy Monitoring, Ltd. which has operations in the United Kingdom and Australia.
The company’s software and hardware platforms allow consumers and utilities to optimize and manage their energy usage. The metering solutions of the company are approved by the U.K. regulators.
GE has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bon-Ton Reports Flat December

Posted: 12 Jan 2011 12:35 PM PST

Bon-Ton Stores Inc. (NASDAQ:BONT) reported total sales of $510.8 million for December 2010, which dropped 0.1% from $511.1 million in the year-ago quarter. The company's comparable store sales inched up 0.1% for the month. The decline in revenues was due to heavy snow storms in the Northeast and Midwest, which eroded top line margin by 150-200 basis points (bps).
In the month of December, the categories which performed well are fine jewelry, hard and soft home, accessories, shoes and furniture. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Beige Book A Bit Brighter

Posted: 12 Jan 2011 12:35 PM PST

The Federal Reserve's Beige Book, a compilation of mostly anecdotal information from the 12 Federal Reserve districts, was generally more upbeat than most recent Beige books have been. Thus is a continuing trend where each Beige Book seems just a bit more upbeat than the last one. Overall, it paints a picture of an economy that is slowly starting to pick up steam but still faces a long uphill climb to get back to where it was before the Great Recession started.

"…[E]conomic activity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: The Stars Have Aligned

Posted: 12 Jan 2011 12:17 PM PST

Cusick's Corner
The stars are aligned: the EU bond offerings have been solid; economic data here and abroad is solid too; fear of inflation is lower; liquidity ample — all necessary ingredients for a roaring bull market. Now the key to trading in this environment is being nimble and trading the sectors that are on the move, i.e. Semis (SMH). The Semiconductor sector has been on the move over the last week or so and activity in names like INTC, AMD, MU and AMAT has been brisk and bullish. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 12 Jan 2011 12:05 PM PST

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

USD/CAD was trading at 0.9878, down 0.26% at time of writing.

The pair was likely to find support at 0.9848, today's low, and resistance at 1.0005, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 1.22% to hit 1.3132 and GBP/USD rising 1.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bulls Binge On Monsanto Options As Shares Extend Gains

Posted: 12 Jan 2011 10:51 AM PST

Bulls binge on Monsanto options as shares extend gains
Today’s tickers: MON, EBAY, ELX & PMCS
Monsanto Co. (NYSE:MON) – Bulls are grazing on Monsanto Company options today with shares of the seed manufacturer rising as much as 3.5% during the session to hit an intraday- and 10-month high of $75.09 by 12:35pm in New York. Shares of the maker of agricultural products are up nearly 60% since October 5, 2010. Options traders initiated diverse tactics to position for further upside movement in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
at

No comments:

Post a Comment