Thursday, January 6, 2011

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DailyMarkets.com - Limited-Time Offer: Save Money With Discover More Card – No Balance Transfer Fee


Limited-Time Offer: Save Money With Discover More Card – No Balance Transfer Fee

Posted: 06 Jan 2011 07:35 AM PST

The Discover More Card – No Balance Transfer Fee offer is a very attractive time-limited promotion only for new sign-ups in the US. For those of you who want to consolidate your high-interest credit card debts or store card debts and want to stop paying any interest on them, read on.

Under this offer which is valid only through February 28, 2011, you get 0% introductory APR on balance transfers for 12 months and pay absolutely no balance transfer fee at all! You'll also enjoy a 0% … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.6.2011 – USD/CAD AUD/USD Gold

Posted: 06 Jan 2011 07:15 AM PST

USD/CAD – Breaks Below 2010 Lows; Eyes 2008 LowsResistance 1: 1.0020-1.0050; R3: 1.01-1.0110
Support 1: 0.9990; Bearish target: 0.9750 (2008 low)

- The USD/CAD is likely to retest the 0.9900 low, and if that breaks the 0.9750 target is in sight. However, we are dealing with consolidation.
- A big clue that the market may be ready for bearish continuation is the strong bearish candle which engulfed the topping action between 0.9970 and 1.0020.
- The market has slowed down since, but is … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Teva Expands Women’s Health Biz

Posted: 06 Jan 2011 07:08 AM PST

Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) recently completed the acquisition of Theramex, a Europe-based women's health business with a presence in several countries.
Teva had initially announced its intention to acquire Theramex in late October 2010 at which time the company entered into a definitive agreement with Merck Serono, a division of Merck KGaA (MKGAF).
Acquisition Will Strengthen Women's Health Biz
We expect this acquisition to help Teva strengthen its women's health … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Plum Creek Repays Debt

Posted: 06 Jan 2011 07:08 AM PST

Plum Creek Timber Co. Inc. (NYSE:PCL), a real estate investment trust (REIT) owning and managing timberlands in the U.S., has recently repaid $463 million debt utilizing the proceeds of $575 million from 4.7% bond issued earlier. The company fully repaid $250 million term-credit agreement scheduled to mature in June 2012 and $213 million of senior notes scheduled to mature in fourth quarter 2011, including $176 million of 7.66% notes and $37 million of 7.97% notes.
Plum Creek would record a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Glumetza 500 Mg Supply Resumed

Posted: 06 Jan 2011 07:08 AM PST

Santarus, Inc. (NASDAQ:SNTS) and Depomed, Inc. (NASDAQ:DEPO) recently announced that they have resumed supply of their type II diabetes product, Glumetza 500 mg.
Product Recalled in June 2010
In June 2010, Depomed had announced a voluntary recall of 52 lots due to the presence of certain substance in bottles containing Glumetza 500 mg. Although the 1000 mg dosage of Glumetza was not included in the product recall, the resumption of supply of the 500 mg dosage is a major positive for Santarus. Prior to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: Constellation Brands, D.R. Horton, Exxon Mobil, Goldman Sachs Group, Hershey Foods, Lockheed Martin, Macy’s Inc, Target, Wal-Mart Stores, Wells Fargo & Company

Posted: 06 Jan 2011 07:07 AM PST

 Constellation Brands (NYSE:STZ) reported fiscal third quarter earnings of $0.66, ahead of the Zacks Consensus Estimate of $0.61, on revenues of $966 million lower than the Zacks Consensus Estimate of $987 million

 Oppenheimer has upgraded ExxonMobil (NYSE:XOM) from “market-perform” to “outperform” with a target price of $90

 Nomura has downgraded Dollar General (DG) from “buy” to “neutral” rating

 Janney Montgomery upgraded Hershey (NYSE:HSY) with a “buy” rating with a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Mack-Cali Extends Lease To Verizon

Posted: 06 Jan 2011 07:07 AM PST

Mack-Cali Realty Corp. (NYSE:CLI), a fully integrated real estate investment trust (REIT), has recently extended its lease agreement with Verizon New Jersey, a unit of Verizon Communications Inc. (NYSE:VZ) – a leading global broadband and telecommunications company. With the 5-year lease extension deal, Verizon would continue to occupy the 600 Horizon Center Drive building at Horizon Center Business Park in Hamilton Township, New Jersey.

Spanning across 95,000 square feet of space, the leased … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bayer Seeks Approval For Xarelto

Posted: 06 Jan 2011 07:07 AM PST

Recently, Germany's Bayer (BAYRY) filed an application with the European Medicines Agency (EMA), seeking approval from the European regulatory body to market  its blood thinner Xarelto (rivaroxaban) in Europe. Clearance has been sought to market the drug, co-developed with Johnson & Johnson (NYSE:JNJ), for preventing stroke in patients with an erratic heartbeat. This cardiac rhythm disorder is referred to as atrial fibrillation (AF). European approval has also been sought to market … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian Ivey PMI Falls More-than-expected In December

Posted: 06 Jan 2011 07:06 AM PST

Forex Pros – Canada’s Ivey purchasing managers' index fell more-than-expected in December, data showed on Thursday.

In a report, the Richard Ivey School of Business said its purchasing managers' index fell to 50.0 in December, after rising to 57.5 in November.

Analysts had expected the index to fall to 52.7 in December.

On the index, a figure above 50.0 indicates industry expansion, below indicates contraction.

Following the release of the data, the Canadian dollar was down against … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stocks Mixed As Retailers Tumble; Dow Jones Sheds 0.08%

Posted: 06 Jan 2011 07:01 AM PST

Forex Pros – U.S. stocks were mixed after the open on Thursday as shares in the retail sector led markets lower and after official data showed that U.S. initial jobless claims rose more-than-expected last week.

During early U.S. trade, the Dow Jones Industrial Average shed 0.08%; the S&P 500 index fell 0.09%, while the Nasdaq Composite index climbed 0.12%.

Earlier in the day, official data showed that the number of individuals filing for initial jobless benefits in the week ending … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Loonie Remains Near 30-month High On U.S. Growth Hopes

Posted: 06 Jan 2011 06:47 AM PST

Forex Pros – The Canadian dollar was almost unchanged against its U.S. counterpart on Thursday, remaining close to a 30-month high, boosted by evidence of growth in the U.S. economy, the nation's largest trading partner.

USD/CAD hit 0.9926 during European afternoon trade, the pair's lowest since Tuesday, the pair subsequently consolidated at 0.9954, easing up 0.01%.

The pair was likely to find support at 0.9887, the low of January 3 and a 30-month low and resistance at 1.0022, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Know For Thursday: Citigroup, JPMorgan, Bank Of America, American Express, Sprint, Verizon, Sears, Urban Outfitters, BP, Vodafone, ARM Holdings

Posted: 06 Jan 2011 06:40 AM PST

S&P futures rallied 15 points from their overnight lows Wednesday after the ADP Employment Data came in well ahead of expectations (297k versus 100k).  As a result, the consensus expectations for Friday’s key NFP to 150k.  The positive move in the Equity Markets was in direct contrast to Treasuries, which came under significant pressure.  The dollar had its most pronounced move against the CHF (+1.8 percent), and was stronger ACROSS the board.  (As for stocks, the Financials … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.6.2011 – GBP/JPY EUR/JPY EUR/GBP

Posted: 06 Jan 2011 06:27 AM PST

GBP/JPY to Complete Wave 5
Resistance 1: 129.50; R2: 131.15-20 (61.8% retracement); R3: 131.00
Support 1: 128.50 (cracked); S2: 128.00; S2: 127-127.35

- The market made a high near 129.30 for today's session. The 129.50 level therefore was respected as resistance. A strong marabuzo candle is seen in the 1H chart, establishing a possible top IF it is not retraced more than 61.8% by the immediate subsequent candles.
- The market was supported by the rising support, though it did break below … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: GBPUSD Breaking Above The 100 Hour MA

Posted: 06 Jan 2011 06:23 AM PST

Swiss Franc: Under Pressure

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Australian Dollar: Under Pressure

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Canadian Dollar: Rebound Expected

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Japanese Yen: Under Pressure

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


British Pound: Rebound

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Euro: Rebound

Posted: 06 Jan 2011 06:21 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: USDCAD Testing 100 Hour MA Again

Posted: 06 Jan 2011 06:13 AM PST

The market has not been able to solicit much buying above the 100 hour MA since breaking below  in NY midday yesterday.  The downside has been contained, but the ceiling is evident, keeping the bias to the downside. 

At 10:00 IVEY PMI is due with expectations at 54.0 vs … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Hits Fresh Daily Low On Downbeat U.S. Claims Data

Posted: 06 Jan 2011 06:13 AM PST

Forex Pros – The euro extended early losses against the yen on Thursday, after a report showing that the number of people who filed for unemployment assistance in the U.S. rose more-than-expected last week dented market sentiment.

EUR/JPY hit 108.80 during European afternoon trade, a fresh daily low; the pair subsequently consolidated at 108.85, shedding 0.55%.

The pair was likely to find support at 107.78, the low of January 3 and resistance at 109.74, Wednesday's high.

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


Forex Trading: USDJPY Stalled Around 100 Day MA. Intraday Bias A Bit Bearish

Posted: 06 Jan 2011 06:09 AM PST

Intraday bias is down (price below 100 day MA and 100 and 200 bar on the 5 minute chart below).  If the price breaks the 82.87 level (BOJ intervention level in September 2010 and low for the day)  next stop 82.72 and then … [visit site to read more] or compare Best Credit Cards and Best CD Rates


BSX Pins Its Hope On Neuro

Posted: 06 Jan 2011 06:05 AM PST

Boston Scientific Corporation (NYSE:BSX) is currently in an acquisition spree, the latest being Boston based Intelect Medical for $78 million. Intellect is presently developing advanced neuromodulation technologies for deep brain stimulation (DBS) therapy. However, considering the company's current holding in Intelect, the total cash payment will sum up to around $60 million. While the deal is not expected to have any meaningful impact through 2013, it should be accretive to the bottom line … [visit site to read more] or compare Best Credit Cards and Best CD Rates


More On Ending The 30-Year Fixed-Rate Mortgage

Posted: 06 Jan 2011 06:04 AM PST

Last May, I had a post asking “Should We End the 30-Year Fixed-Rate Mortgage?” That post featured the graph above illustrating how the significant interest rate risk of 30-year mortgages contributed to the 3,000 bank failures during the S&L crisis.  Because S&L’s were borrowing deposits at short-term, variable interest rates and lending mortgage money long at 30-year fixed rates, many banks became insolvent by the early 1980s when rising interest rates resulted in S&L’s paying … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: GBPUSD Still Not Sure Of Direction

Posted: 06 Jan 2011 05:51 AM PST

On the 5 minute chart above there is something about that old trendline.
Overall, the GBPUSD remains … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Trims Losses After U.S. Jobless Claims Rise

Posted: 06 Jan 2011 05:49 AM PST

Forex Pros – The euro trimmed losses against the U.S. dollar on Thursday, after official data showed that the number of people who filed for unemployment assistance in the U.S. rose more-than-expected last week.

EUR/USD clawed up from 1.3085, the pair's lowest since December 27, to hit 1.3117 during European afternoon trade, shedding 0.24%.

The pair was likely to find support at 1.297, the low of December 1 and an 11-week low and resistance at 1.3238, the high of December 29.

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


Key Fundamental Highlights And Stories (1/6) – Euro-zone And UK

Posted: 06 Jan 2011 05:45 AM PST

Key Fundamental Highlights:

Euro-Zone November retail sales come in -0.8% m/m, 0.1% y/y. Forecasts had called for a 0.3% gain. Much weaker than expected report.
German November Factory Orders rose a much stronger than expected +5.2% m/m, blowing away the forecast of +0.9%.
China says it will buy €6 billion of Spanish debt, as China is confident that Europe can overcome its crisis.
UK December Services PMI slides to 49.7 vs 53.0 in November. This reading was much weaker than forecast of an … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: USDCHF In A Narrow Trading Range.

Posted: 06 Jan 2011 05:45 AM PST

Bias remains bullish.  Watching for a break to confirm. If price moves below the 0.9654 look for profit taking in the pair … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Initial Jobless Claims Rise More-than-expected

Posted: 06 Jan 2011 05:38 AM PST

Forex Pros – The number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 1 rose to a seasonally adjusted 409K, after falling to 391K in the preceding week, whose figure was revised up from 388K.

Analysts had expected initial jobless claims to rise to 405K in the week ending … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.6.2011 – EUR/USD GBP/USD USD/JPY

Posted: 06 Jan 2011 05:36 AM PST

EUR/USD Should Slow Down DeclineResistance 1: 1.3130; R2: 1.32 R3: 1.3250;
Support 1: 1.3050-1.3060; S2: 1.2970; S3: 1.2920

- The EUR/USD is poised to test the 1.3050 low. The RSI in the 4H chart finally tagged 30, suggesting that this time, the market should have the momentum to get past this level. The RSI in the 1H chart (not shown here) has a bullish divergence with the price action. Therefore, as the market nears 1.3050, we should anticipate a pullback before anticipating a break … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EIA: Another Sharp Crude Drawdown

Posted: 06 Jan 2011 05:35 AM PST

The U.S. Energy Department’s weekly inventory release showed a larger-than-expected drop in crude stockpiles, while gasoline and distillate supplies climbed steeply. Meanwhile, refinery run-rates were up slightly from the previous week.
The Energy Information Administration ("EIA") Petroleum Status Report – that contains data for the previous week ending on Friday – outlines information regarding the weekly change in petroleum inventories held and produced by the U.S., both locally and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


MarkWest Energy Cut To Neutral

Posted: 06 Jan 2011 05:35 AM PST

We have downgraded pipeline operator MarkWest Energy Partners L.P. (MWE) to Neutral from Outperform.
Denver, Colorado-based MarkWest Energy, a master limited partnership ("MLP"), is engaged in the gathering, processing and transmission of natural gas, transportation, fractionation and storage of natural gas liquids ("NGLs"), and the gathering and transportation of crude oil. Over the last few years, the partnership has consolidated its position in the midstream business, achieved … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Monster Employment Index Increases By 13% In December: 11th Straight Month Of Annual Growth

Posted: 06 Jan 2011 05:21 AM PST

The Monster Employment Index for the U.S. was released today with the following highlights:

1. Compared to December 2009, online job demand was up by 13% last month, and December 2010 marked the eleventh consecutive month of a positive annual growth rate in the index, and the ninth straight month of double-digit growth (see chart above).   

2. Sixteen of the 20 industries monitored by the Index showed positive annual growth trends in December, with the strongest job gains in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Watch On Thursday: Apple, Intel, Microsoft, IBM, Mastercard, Visa, Verizon, Motorola, ARM Holdings, BP, GlaxoSmithKline

Posted: 06 Jan 2011 04:50 AM PST

BP (NYSE:BP) – Co. and its partners made a series of cost-cutting decisions that ultimately contributed to the oil spill that ravaged the Gulf of Mexico coast over the summer, according to the White House oil spill commission. (RTRS)

UK

Rio Tinto (NYSE:RIO)/BHP Billiton (NYSE:BHP)/Xstrata – Australia's flood-stricken coal industry was facing lengthy disruptions on Thursday, with one miner saying it could take weeks to drain its pits of water and the biggest coking coal port warning … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Headlines: Euro Extends Selloff Amid Dismal Retail Sales, Consumer Confidence Reports

Posted: 06 Jan 2011 04:37 AM PST

        

Fundamental Headlines
• Global Food Prices Hit Record High – Wall Street Journal
• U.S. Jobs Help Asia Sentiment – Wall Street Journal
• Jobs Growth Bolsters Recovery Confidence – Financial Times
• German Factory Orders Surged in November on Export Demand – Bloomberg
• U.K.'s Osborne Calls on EU to Bolster Banks to Aid Recovery – Bloomberg
EURUSD: Euro-Zone economic confidence in December rose to 106.2 from a revised 105.1 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Steady Ahead Of U.S. Jobless Claims Data

Posted: 06 Jan 2011 04:15 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major rivals on Thursday, consolidating the previous day's gains after strong U.S. private sector employment data boosted the outlook for U.S. growth.
 
During European early afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.24% to hit 1.3119.

Earlier Thursday, official data showed that retail sales across the euro zone fell unexpectedly in November as weak consumer demand in countries like Spain … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Grail Advisors Indicates Pending Acquisition Or Liquidation

Posted: 06 Jan 2011 04:10 AM PST

Grail Advisors made a filing with the SEC on Jan 5th, 2011 which indicated that it may be in the process of getting acquired but if the transaction is unsuccessful, the company may have to liquidate of its actively-managed ETFs.
The filing is a supplement that mentions that Grail Advisors has "entered into a letter of intent concerning a transaction involving its ownership interests in order to enable it to continue its operations". Grail Advisors' current financial obligations include … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Major Moves Dec: Active ETF Assets Surpass $3 Billion To Close Off 2010

Posted: 06 Jan 2011 04:00 AM PST

Actively-managed ETFs closed off 2010 by crossing the $3 billion mark in assets within the US markets. Active ETFs had come close in November 2010, when they finished that month at slightly below $2.9 billion. The general markets resumed their winning stretch in December, after taking a pause in November, as the S&P500 gained another 6.53% over the month. The S&P500 is up nearly 20% since the month of September, one of the best performances for the equity markets in a quarter.
Things … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/GBP Trims Losses As U.K. Service Sector Contracts

Posted: 06 Jan 2011 03:41 AM PST

Forex Pros – The euro trimmed losses against the pound on Thursday, after a report showing that the U.K. services sector contracted unexpectedly in December, the first fall in output since April 2009.

EUR/GBP clawed back up from 0.8434, the pair's lowest since December 14, to hit 0.8463 during European late morning trade, shedding 0.14%.

The pair was likely to find support at 0.8347, the low of December 14 and resistance at 0.8541, Wednesday's high.

The Markit/CIPS services purchasing … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Sowing The Seeds Of Tyranny

Posted: 06 Jan 2011 03:30 AM PST

Without truth, can we ever determine right from wrong and good from bad?
Without transparency, can we ever get to the truth?
Without integrity, can those with ill gotten gains ever be prosecuted?
Without an undying and unbridled passion for truth, transparency, and integrity how can our nation thrive? I am deadly serious. We are nowhere close to thriving currently.
Regular readers of Sense on Cents know all too well my passion for these virtues of truth, transparency, and integrity. I am … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Market Musings: Oh, The Horror!!!

Posted: 05 Jan 2011 08:40 AM PST

I love these headlines from MarketWatch when the market is expected to be down at the open.

Figure 1. MarketWatch

Let’s face it, market participants can’t even tolerate a pullback of even a half percent without expressing grave and deep concern.  I think the headline should read: “Opportunity To Buy”.  After all, isn’t this the pullback that everyone is waiting for?  Furthermore, why concern ourselves with pullbacks and down days when it has been determined that … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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