Monday, January 24, 2011

DailyMarkets.com - Hungary Central Bank Raises Rate 25bps To 6%

DailyMarkets.com - Hungary Central Bank Raises Rate 25bps To 6%

Hungary Central Bank Raises Rate 25bps To 6%

Posted: 24 Jan 2011 04:30 PM PST

The National Bank of Hungary raised its main monetary policy rate 25 basis points to 6.00% (with effect from 25 Jan 2011). The move was driven by rising inflation, as rising fuel prices have led to higher inflation. Hungary reported inflation of 4.9 percent in 2010, which is above the official 3% medium-term inflation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Weakness Seen In The US Dollar

Posted: 24 Jan 2011 04:00 PM PST

Much attention was given to the stock market for the past couple of weeks. Today, however, I'd like to divert your minds for a while towards the almighty US dollar. The US dollar index (USDX) is an index that measures the value of the USD against a basket of currencies namely the euro (EUR), British pound (GBP), Canadian dollar (CAD), Swedish krona (SEK), Swiss franc (CHF), and Japanese yen (JPY). The value of the index goes up when the greenback appreciates versus the above mentioned … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Earnings, Conference Board’s Consumer Confidence, FOMC Meeting, State Of The Union Address

Posted: 24 Jan 2011 11:00 AM PST

01/25/11 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

History Made At GM: Chinese Sales Top Those In The US

Posted: 24 Jan 2011 04:00 PM PST

01/24/11 For the first time ever, v2010 saw vehicle sales for General Motors in China come in better than sales in the US as China’s middle class continues to purchase … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The Asian Session

Posted: 24 Jan 2011 03:48 PM PST

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

NZD/USD was trading at 0.7635, up 0.06% at time of writing.

The pair was likely to find support at 0.7528, Friday's low, and resistance at 0.7788, Wednesday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.07% to hit 1.3060 and EUR/NZD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Timers Market

Posted: 24 Jan 2011 03:18 PM PST

Cusick's Corner
Today's market can be surmised as a timers market. When we were wrapping up last year, I mentioned that 2011 market movements will not have the breadth that we experienced in 2010, especially in Q4. This means that certain sectors will gain traction while others lag, and not just the whole market following each other to the upside. For timing trades — in order to get through these grinding markets, it will be critical to look at momentum (RSI) and trend (Fibs/MA). This is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Total System

Posted: 24 Jan 2011 03:05 PM PST

Global electronic payment processor and merchant acquirer Total System Services Inc. (NYSE:TSS) is scheduled to release its fourth quarter earnings results after the market opens on January 25, 2011. The Zacks Consensus Estimate for the fourth quarter is 24 cents per share, representing a loss of about 22.0% over the year-ago quarter.
Following the third quarter trends, higher operating expenses, sluggish internal client growth and persistent weakness in revenue growth could continue to mar the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Praxair Wins Three Contracts

Posted: 24 Jan 2011 03:05 PM PST

Praxair Electronics, Praxair Inc's (NYSE:PX) Chinese unit, was recently awarded three contracts in China. Among the three, the first one was from ShanXi LuAn Solar Energy for the silane, ammonia and bulk atmospheric gases.
The second was from Changzhou Trina Solar Energy Co. Ltd. for the supply of silane and finally the last came from Realforce Solar, a subsidiary of Realforce Group, for silane and ammonia gas.
Praxair at present has more than 15 such contracts on hand and this is going to take … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Picks For Tuesday January 25

Posted: 24 Jan 2011 02:48 PM PST

 ( click to enlarge )

I see little resistance for KB Home (NYSE:KBH) above $15.71 and a move this week through this level will be an indicator of a possible breakout which should drive the price to the $18 range. Investors looking for a quick near-term profit should look to trade KBH at these levels. Long-term investors can hold the stock as long as it trades above $14.20 while maintaining stop-loss at this level. Strong close above $15.85 will take the stock higher to $17.32 or $20 in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Meredith Corp.

Posted: 24 Jan 2011 02:35 PM PST

Meredith Corporation (NYSE:MDP) is scheduled to report its second-quarter 2011 financial results on January 25, 2011. The current Zacks Consensus Estimate for the quarter is 86 cents a share. For the quarter under review, revenue is $363 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, a Synopsis
Meredith Corporation posted first-quarter 2011 results on October 26, 2010, that exceeded the Zacks Consensus Estimate. The quarterly earnings of 56 cents a share outpaced the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Boston Scientific Targets Japan

Posted: 24 Jan 2011 02:35 PM PST

In an attempt to target the Japanese market, leading medical devices player, Boston Scientific Corporation (NYSE:BSX) has entered into an agreement with Fukuda Denshi Co to sell its cardiac rhythm management (CRM) devices and accessories. Banking on Fukuda Denshi's strong sales team and distribution network, Boston Scientific would be better placed to reach the consumers in Japan.
Boston Scientific derived 32% of its revenues from the CRM segment. This segment includes a broad product portfolio … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Four ETFs To Play Rise In Gasoline Prices

Posted: 24 Jan 2011 02:17 PM PST

As global demand for crude oil continues to increase to record levels and supply remains constricted, the price of gasoline continues to itch upwards, passing the $3 per gallon mark in October and giving support to the United States Gasoline Fund (UGA), the PowerShares DB Energy (DBE), the iShares Dow Jones US Oil & Gas Ex Index (IEO) and the Vanguard Energy ETF (VDE).
According to the American Petroleum Institute, worldwide demand for crude oil in 2010 hit a record of more than 87 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Quest Diagnostics

Posted: 24 Jan 2011 02:05 PM PST

Quest Diagnostics (NYSE:DGX) is scheduled to release its fourth quarter and fiscal 2010 earnings on January 25, 2011 before the market opens. The company is expected to earn 91 cents during the quarter on $1,801 million in revenues and $3.98 during the fiscal on $7,346 million in revenues, according to the Zacks Consensus Estimate.
Previous Quarter Highlights
Quest Diagnostics reported an EPS of $1.13 during the third quarter of fiscal 2010, surpassing the year-ago quarter's $1.02. However, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fresenius’ Spanish Agreement

Posted: 24 Jan 2011 02:05 PM PST

Fresenius Medical Care (NYSE:FMS), the largest global player in dialysis-related services, recently arrived at an agreement with the public health department of the Murcia region of Spain. This constitutes Spain's first-ever complete dialysis care and performance-linked reimbursement model.
Under the terms of the agreement, effective mid-2011, Fresenius will make available dialysis treatment to about 200 renal patients in the area.
The system announced by the two parties is similar to the one … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: MCD, HAL, NVS

Posted: 24 Jan 2011 02:00 PM PST

01/24/11  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

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

Posted: 24 Jan 2011 01:53 PM PST

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

EUR/USD was trading at 1.3638, up 0.12% at time of writing.

The pair was likely to find support at 1.3377, Wednesday's low, and resistance at 1.3685, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.19% to hit 0.8530 and EUR/JPY rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Copper Prices Rise To Record Highs, Thefts Rise Too

Posted: 24 Jan 2011 01:45 PM PST

Paul Kedrosky reports today that copper thefts are rising again, due to the all-time record high prices in recent months.  The chart above displays monthly copper prices back to 1980, and shows that copper prices have tripled from $1.40 per pound at the end of 2008 to recent highs this month approaching $4.50 per pound.  

According to a Google News search, there have been 545 news stories in just the last week containing the phrase “copper theft,” and that compares to 665 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Keys To Today’s Rally

Posted: 24 Jan 2011 01:39 PM PST

I scanned the news to try and figure out what got equity traders so excited today and here’s what I came up with:
Bull point #1: Rising revenue for financial firms that process food stamps and other government assistance payments; expanding niche market for canned pet food products
“One in Six Seniors Lives in Poverty, New Analysis Finds” (National Council on Aging)
Washington, DC – One in six older Americans lives below the federal poverty line, according to a new government analysis which … [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: 24 Jan 2011 01:38 PM PST

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

USD/JPY was trading at 82.50, down 0.09% at time of writing.

The pair was likely to find support at 81.85, Wednesday's low, and resistance at 83.13, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.13% to hit 1.3639 and GBP/USD falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Honeywell And Haier Collaborate

Posted: 24 Jan 2011 01:35 PM PST

Honeywell International Inc. (NYSE:HON) and Haier Group have entered into an agreement to jointly develop and promote low-emission, high energy-efficiency products and solutions. A memorandum of understanding (MOU) was signed by the companies at the U.S.- China Trade and Economic Cooperation Forum.
The new technology from the joint effort of Honeywell and Haier are to improve the proficiency and cleanliness of household appliances, intelligent home systems, residential heating, building automation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Another Statoil Contract For FMC

Posted: 24 Jan 2011 01:35 PM PST

Houston, Texas-based FMC Technologies (NYSE:FTI) has entered into a $54 million contract with Norway's oil major Statoil ASA (NYSE:STO). Under the deal, FMC will manufacture and deliver two subsea production trees, one manifold and associated subsea and topside control systems to the latter. These equipments will be utilized for the development of Statoil's Gygrid offshore field in the Norwegian sector of the North Sea.
Located at a depth of approximately 820 feet, the oil and gas field was … [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: 24 Jan 2011 01:23 PM PST

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

EUR/USD was trading at 1.3644, up 0.17% at time of writing.

The pair was likely to find support at 1.3377, Wednesday's low, and resistance at 1.3685, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.20% to hit 0.8531 and EUR/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

C$ > US$! How Long Will This Last?

Posted: 24 Jan 2011 01:18 PM PST

Today’s Idea
Some traders bullish on the Canadian Dollar longer term who wish to minimize some of the day-to-day volatility that can be seen in the FX markets may wish to explore the purchase of a bull call spread in the deferred contract months. For example, with June Canadian Dollar futures trading at 1.0022 as of this writing, the June 1.0100 calls could be bought and the June 1.0600 calls sold for about 0.0155, or $1,550 per spread, not including commissions. The premium paid would be the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NABE Survey: Economic Recovery Gaining Strength; “Net Rising Index” For Jobs Highest In 12 Years

Posted: 24 Jan 2011 01:12 PM PST

WASHINGTON (AP) — “Industry economists say the U.S. economic recovery is gaining strength, with more firms expressing positive hiring plans than in over a decade. A new survey from the National Association for Business Economics finds that economists are more hopeful about overall economic growth, the job market and demand for companies’ products and services by many measures than they have been since the start of the Great Recession.

The survey found that business decisions are now “being … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 0.92%

Posted: 24 Jan 2011 01:08 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.92%, the S&P 500 index gained 0.58%, while the Nasdaq 100 index climbed 1.41%.

Meanwhile, across the Atlantic, European stock markets closed higher. France's CAC 40 was up 0.39%; Germany's DAX gained 0.08%; Britain's FTSE 100 climbed 0.81%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Jacobs Engineering

Posted: 24 Jan 2011 01:05 PM PST

Jacobs Engineering Group Inc. (NYSE:JEC) is scheduled to report its first quarter 2011 results before the market opens on January 25. Historically, the Jacobs' earnings have been consistently below the Zacks Consensus Estimate.
However, we expect a modest recovery in Jacobs' business in the upcoming year after bottoming-out in fiscal 2010. Nevertheless, the decrease in backlog in fiscal 2010 would have a negative impact on the top-line of fiscal 2011.
Last Quarter and Fiscal 2010 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AstraZeneca Responds To FDA Letter

Posted: 24 Jan 2011 01:05 PM PST

AstraZeneca (NYSE:AZN) recently submitted a response to the Complete Response Letter (CRL) issued by the US Food and Drug Administration (FDA) for Brilinta (ticagrelor). In its response, the company has provided additional analyses of the Study of Platelet Inhibition and Patient Outcomes (PLATO) as requested by the FDA. AstraZeneca is looking to get Brilinta approved for the treatment of acute coronary syndrome (ACS).
CRL Issued in Dec 2010
The FDA had issued a CRL on Dec 16, 2010 for Brilinta. At … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 24 Jan 2011 12:43 PM PST

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

GBP/USD was trading at 1.5998, down 0.01% at time of writing.

The pair was likely to find support at 1.5838, Thursday's low, and resistance at 1.6038, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.19% to hit 0.8530 and GBP/JPY falling 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sealed Air’s EPS And Revenues Up

Posted: 24 Jan 2011 12:35 PM PST

Sealed Air Corporation (NYSE:SEE) delivered adjusted EPS of 46 cents for the fourth quarter ended December 31, 2010, on par with the Zacks Consensus Estimate. Earnings per share in the quarter manifested a 15% increase over 40 cents in the year-ago quarter. Growth across all of its segments, productivity gains as well as tight control of expenses and pricing actions led to the improvement.
During the quarter, the company recorded a losses on debt redemption of 14 cents per share, a restructuring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BHP Downgraded To Neutral

Posted: 24 Jan 2011 12:35 PM PST

We downgrade our rating on BHP Billiton Ltd. (NYSE:BHP) from Outperform to Neutral based on the recent floods in Australia. The flood has forced closure of mines, reducing production levels, particularly when the market is improving and metal prices are reaching for the sky. This is going to have a negative effect on the operating results in the near term.
Moreover, BHP Billiton's assets, earnings and cash flows are influenced by a wide variety of currencies due to the geographic diversity of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dopey Strange: Protecting Us From Low Prices

Posted: 24 Jan 2011 12:32 PM PST

Co-directed, co-produced, and co-written by Don Boudreaux. I nominate this movie for an Academy … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Blue Chips Picking Up Slack

Posted: 24 Jan 2011 12:18 PM PST

Cusick's Corner
This week starts off with a change at the helm. Small Caps, RUT, have lost all momentum and the Blue Chips, DJX, are picking up the slack early in this earnings season. The S&P and NASDAQ are in a consolidation at this stage, most likely because the heavy data and earnings releases are not out until mid-week and the Fed Meeting is two days with the decision due Wednesday. This leadership change and consolidation does nothing more than just switch the offensive players at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 24 Jan 2011 12:03 PM PST

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

USD/CAD was trading at 0.9948, up 0.16% at time of writing.

The pair was likely to find support at 0.9890, Wednesday's low, and resistance at 1.0031, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.13% to hit 1.3639 and GBP/USD falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bulls And Bears Appear At Patriot Coal Corp. Ahead Of Earnings

Posted: 24 Jan 2011 11:42 AM PST

Bulls and bears appear at Patriot Coal Corp. ahead of earnings
Today’s tickers: PCX, RSH, SA & EK
Patriot Coal Corp. (NYSE:PCX) – Options traders are placing bullish and bearish bets on the coal company today with roughly one week remaining before the firm reports fourth-quarter earnings ahead of the opening bell next Tuesday. Shares in Patriot Coal are up 3.8% at $24.05 as of 12:10pm in New York. One bullish player hoping to see PCX shares gravitate toward the January 14, 2011, 52-week high … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The State Of The Union And The Federal Budget: Investing In America’s Future

Posted: 24 Jan 2011 10:32 AM PST

Word has it that the President will be emphasizing "improving American competitiveness" in his State of the Union Address Tuesday night. As I've noted, the term is meaningless — but it's politically useful. CEOs and many conservatives think it means improving the profitability of American companies. Liberals and labor unions think it means increasing export jobs.

Neither touches at the heart of the matter. Hopefully, the President will. Over the long term, the only way to improve the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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