Thursday, January 6, 2011

DailyMarkets.com - Repsol Inks Deal In Colombia

DailyMarkets.com - Repsol Inks Deal In Colombia

Repsol Inks Deal In Colombia

Posted: 06 Jan 2011 09:35 AM PST

Spain's integrated oil and gas company, Repsol YPF, S.A. (NYSE:REP) has joined hands with Petrobras Colombia Limited, the local unit of Brazil’s Petroleo Brasileiro (NYSE:EC) for an oil exploration project in the country. The deal is pending approval from Colombia's national hydrocarbon agency, ANH (Agencia Nacional de Hidrocarburos).
Per the agreement, the Spanish company will partake in the exploration of the Tayrona Block, which is located off Colombia’s Caribbean coast. Repsol will secure a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EMC Revamps, Cuts Earnings Outlook

Posted: 06 Jan 2011 09:35 AM PST

Data storage company, EMC Corporation (NYSE:EMC) has cut its GAAP earnings outlook for fiscal 2010 due to a restructuring charge of approximately $90 million to be incurred in the fourth quarter of 2010. The charge will be incurred as part of reorganization in EMC’s international business.
EMC lowered its outlook for 2010 GAAP earnings per share (EPS) from 91 cents to 87 cents. The company also revised its outlook for its GAAP income tax rate from 20% to 24% for 2010.
However, revenues are … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold Investing: The Time To Jump Back In Is Very Near

Posted: 06 Jan 2011 09:24 AM PST

Pardon the rudeness, but I'm salivating at the mouth this morning. After a rocky start to 2011, it looks like I might finally get my opportunity to buy more gold investments…and it could happen today.

On January 4, 2011, gold bullion fell $44.10 U.S. per ounce. The next day, January 5, 2011, it fell another $5.10 an ounce. This morning, as I write this issue of PROFIT CONFIDENTIAL, gold bullion is down another $9.90 an ounce. In three trading days, we are looking at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

LaCrosse Preliminary Sales Up

Posted: 06 Jan 2011 09:05 AM PST

LaCrosse Footwear Inc. (NASDAQ:BOOT), a leading developer and marketer of premium, branded footwear for the work and outdoor market announced its preliminary sales results for the fourth quarter and fiscal 2010. The company is slated to report its full results on February 1, 2011.
Portland, Oregon-based LaCrosse expects to post net revenue of $52.1 million in the fourth quarter, up 23% year over year and also above the Zacks Consensus Estimate of $45.0 million. For fiscal 2010, LaCrosse foresees a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Monsanto Beats Zacks Estimate

Posted: 06 Jan 2011 09:05 AM PST

Monsanto Company (NYSE:MON) announced better-than-expected results for the first quarter of fiscal 2011. During the quarter, net income was $6 million compared with a loss of $19 million in the corresponding quarter of 2010.
Earnings per share (EPS) (excluding a restructuring expense) were 2 cents compared with a loss per share of 2 cents in the year-ago quarter. It surpassed the Zacks Consensus Estimate by a penny per share.The increase was due to higher revenue and lower operating … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sonic Misses Estimate

Posted: 06 Jan 2011 09:05 AM PST

Sonic Corp. (NASDAQ:SONC) the drive-in fast food chain posted reported first-quarter fiscal 2011 results after the closing bell on Tuesday. The company reported earnings of 12 cents per share, surpassing the Zacks Consensus Estimate by 2 cents. Earnings included a tax benefit of 2 cents per share. In the prior-year quarter, Sonic had earned 10 cents per share.
Total revenue in the reported quarter slipped 5% to $129.1 million from $136.5 million in the year-ago quarter, due to drop in comparable … [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: 06 Jan 2011 09:00 AM PST

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

EUR/USD was trading at 1.3027, down 0.94% at time of writing.

The pair was likely to find support at 1.3006, today's low, and resistance at 1.3432, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.77% to hit 0.8411 and EUR/JPY falling 1.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ruby Tuesday Tops, Reaffirms

Posted: 06 Jan 2011 08:46 AM PST

Ruby Tuesday Inc. (NYSE:RT), a casual dining restaurant operator, recently reported its second-quarter 2011 adjusted earnings of 7 cents a share, surpassing the Zacks Consensus Estimate by 2 cents and the year-ago quarter's earnings by 6 cents.
Total revenue in the quarter increased 6.2% year over year to $290.5 million attributable to a rise in comparable-store sales. The revenue came in way ahead of the Zacks Consensus Estimate of $280.0 million. 
Inside the Headline … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Raising Silicom Ltd. (SILC) Top-Line Estimates Due To Broad Strength

Posted: 06 Jan 2011 08:46 AM PST

Ken Nagy, CFA

Raising Silicom Ltd. (SILC) Top-Line Estimates Due to Broad Strength

We are raising our fourth quarter top-line estimate on SILC from $7.5 to $8.5 million. This is based on strength across all current product lines. Our bottom line estimate of $0.25 EPS will not change at this point due to currency appreciation.

Silicom Ltd. engages in the design, manufacture, marketing, and support of connectivity solutions for a range of servers and server based systems in North America, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pride Int’l Remains In Neutral Zone

Posted: 06 Jan 2011 08:46 AM PST

We remain Neutral on Pride International Inc. (NYSE:PDE) shares based on our conservative outlook for midwater and deepwater dayrates. Like other deepwater players, Pride International also felt a downward pressure on utilization from newbuild capacity and weakness in the floater market. However, the company is better positioned than most of its peers as it is heavily contracted (including midwater).
Additionally, we believe the company's ultra-deepwater newbuild program and capital raising … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Delta Expects Lower 4Q Profit

Posted: 06 Jan 2011 08:46 AM PST

Delta Air Lines Inc. (NYSE:DAL), the second largest U.S. airline, expects fourth quarter profit will be $45 million less than its previous expectation as several of its flights were cancelled due to severe snowfall in December across the U.S. and Western Europe.
In December, Delta Air Lines' traffic rose 2.6% to 15.04 billion revenue passenger miles from 14.68 billion in the year-ago month. Capacity or available seat miles grew 3.9% and load factor (percentage of seats filled with passengers) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jobless Claims Up, But Trend Still Down

Posted: 06 Jan 2011 08:46 AM PST

Initial Claims for Unemployment Insurance rose by 18,000 last week to 409,000 (last week was also revised up by 3,000, so one could see it as a 21,000 increase). This was slightly worse than the expected level of 405,000. The massive drop during the Christmas week was clearly affected by some seasonal (and weather) factors.
Still, the overall direction of initial claims is clearly downward. We finally have gotten out of the "trading range" that initial claims have been in for the last year. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jabil Circuit Upgraded

Posted: 06 Jan 2011 08:46 AM PST

We are upgrading Jabil Circuit Inc. (NYSE:JBL) to Outperform from our previous Neutral rating following the company's impressive first quarter 2011 results. Jabil's results also improved in each of the four quartersof 2010 and beat the Zacks Consensus Estimate.
First Quarter Earnings Highlight
Jabil's first quarter 2011 results were above the Zacks Consensus Estimate, driven by a strong top-line growth and better-than-expected operating margin. Earnings per share (EPS), including stock-based … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eurozone Inflation/Debt Woes Cause Indecision

Posted: 06 Jan 2011 08:46 AM PST

Today’s Idea
The fundamentals for the Euro continue to hold a neutral to slightly bearish bias. Logic would say that inflationary pressure could lead to higher rates, but the sovereign debt concerns supersede inflation concerns at the present. The chart also holds the same neutral to slightly bearish bias, given the fact that the market was coming down prior to consolidating. For these reasons, some traders may wish to consider entering into a bear call spread by selling the Feb Euro 1.36 call … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rebounds Above $90

Posted: 06 Jan 2011 08:21 AM PST

01/06/11 Front month crude prices rebounded this session following improved US economic data and eurozone debt crisis … [visit site to read more] or compare Best Credit Cards and Best CD Rates

WisdomTree Launches Managed Futures Active ETF (WDTI)

Posted: 06 Jan 2011 08:00 AM PST

WisdomTree Investments brought a brand new actively-managed ETF to market yesterday on Jan 5th, called the WisdomTree Managed Futures Strategy Fund (WDTI: 50.25 -0.08%). WDTI is the very first managed futures strategy to be brought to the marketplace in an ETF wrapper. WDTI is listed on the NYSE Arca and will employ a quantitative, rules-based strategy that is designed to provide returns that correspond to the performance of the Diversified Trends IndicatorTM, or DTI Index. The fund will have … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Broadly Higher Vs. Rivals After Jobless Claims Report

Posted: 06 Jan 2011 07:58 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major rivals on Thursday, despite data showing that the number of U.S. workers filing new claims for jobless benefits rose slightly more-than-expected last week.
 
During European late afternoon trade, the greenback was up against the euro, with EUR/USD tumbling 0.87% to hit 1.3035.

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

Forex – GBP/USD Hits Fresh Daily Low After Jobless Claims Rise

Posted: 06 Jan 2011 07:53 AM PST

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

GBP/USD hit 1.5467 during European late afternoon trade, as fresh daily low; the pair subsequently consolidated at 1.5468, shedding 0.3%.

Cable was likely to find support at 1.5366, the low of December 30 and resistance at 1.5627, Wednesday's high.

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

Forex Trading: GBPUSD Falls To Test 200 Hour MA And Trendline Again

Posted: 06 Jan 2011 07:44 AM PST

The upside failed to break the target t the 1.5663 level and the price rotated back below the 100 hour MA. Now the price is testing support against 200 hour MA at the 1.5481 level and the trendline at 1.5470.   The market is finding buyers initially at the level. However, there should be sellers if the key levels are both broken.  The low from yesterday would be the next target to get through at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Constellation Brands Pours Out Profits

Posted: 06 Jan 2011 02:44 AM PST

01/06/11 The world’s largest branded winemaker announced Thursday that it posted a stronger-thsn-expected quarterly profit while also boosting its full-year profit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Breaks Below The Key Support

Posted: 06 Jan 2011 07:28 AM PST

The EURUSD has reversed and has broken key support at the 1.3078/80 level where the 200day MA and the 50% retracement of the move up from the June 2010 low to the high reached in November 2010.   Look for momentum sellers to keep the price below the level.  Stop is a move above 1.3084. The old low for the day
Next key target on the downside comes in at 1.2977. Interim level to get through is the low from Dec 23 at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Tumbles To 2-week Low Ahead Of U.S. Payrolls

Posted: 06 Jan 2011 07:27 AM PST

Forex Pros – The euro extended earlier losses against the U.S. dollar on Thursday as market focus turned to Friday's U.S. non-farm payrolls data as a way to test expectations that the U.S. recovery is gathering momentum.

EUR/USD hit 1.306 during European afternoon trade, the pair's lowest since December 23; the pair subsequently consolidated at 1.3069, tumbling 0.62%.

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

Opening Bell Market Monitor: GPS, STZ, ANX, MSFT, ARMH

Posted: 06 Jan 2011 02:26 AM PST

01/06/10 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

Euro Continues To Weaken As Rift With Periphery Grows

Posted: 06 Jan 2011 05:52 AM PST

The dollar is once again making the running in early foreign exchange action as investors increasingly rely on what they already know. Core Eurozone activity is performing well while the ability of surrounding nations to convince investors in the coming months and years that they won’t default on debt obligations remains a key concern. In the meantime traders are reminded on a daily basis of the improving health of the dollar economy.
U.S. Dollar – The greenback continues to build on midweek … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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