Friday, February 18, 2011

DailyMarkets.com - Acorda Posts Profit, Outlook

DailyMarkets.com - Acorda Posts Profit, Outlook

Acorda Posts Profit, Outlook

Posted: 18 Feb 2011 11:25 AM PST

Acorda Therapeutics Inc.'s (NASDAQ:ACOR) fourth quarter earnings of 9 cents per share were lower than the Zacks Consensus Estimate of 17 cents but way above the year-ago loss of 59 cents per share. Fiscal year 2010 loss per share of 31 cents also missed the Zacks Consensus Estimate of a loss of 24 cents per share. Fiscal year 2009 loss per share was higher at $2.22.
The substantial recovery in fourth quarter earnings was driven by higher revenues.
Quarterly revenues saw a whopping 362.6% increase … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Progress Energy Tops On EPS

Posted: 18 Feb 2011 11:25 AM PST

Power utility company  Progress Energy Inc. (NYSE:PGN) announced its fourth-quarter 2010 operating earnings of 45 cents per share, which beat the Zacks Consensus Estimate of 43 cents. The results of the company were a nickel lower than the year-ago earnings.
The contribution to operating earnings from Progress Energy Carolinas was 42 cents, while Progress Energy Florida contributed 17 cents. Ongoing after-tax expenses from Corporate and Other Business were 14 cents a share in the reported … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up In U.S. Trading Hours

Posted: 18 Feb 2011 11:15 AM PST

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

EUR/USD was trading at 1.3704, up 0.70% at time of writing.

The pair was likely to find support at 1.3429, Monday's low, and resistance at 1.3715, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.18% to hit 0.8429 and EUR/JPY rising 0.42% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ghana Central Bank Holds Rate At 13.50%

Posted: 18 Feb 2011 11:13 AM PST

The Monetary Policy Committee of the Bank of Ghana held its Monetary Policy Rate at 13.50%. Ghana recorded inflation of 9.1% in January, up from 8.6% in December, while food price inflation climbed to 4.8% from 4.5%. The Bank of Ghana noted that “looking ahead, the forecast for inflation though slightly elevated, is expected to remain within the target band of 8.5 per cent, +/- 2 per cent by the end of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Windstream Falls A Penny Short

Posted: 18 Feb 2011 11:05 AM PST

Windstream Corporation (NYSE:WIN), a fixed-line voice and DSL Internet service provider, reported fourth quarter 2010 adjusted earnings per share of 19 cents missing the Zacks Consensus Estimate by a penny.
Adjusted earnings excluded $16 million in merger and integration costs, and $4 million in restructuring charges, which impacted earnings by roughly 4 cents a share. Including these costs, earnings per share plunged 12% to 15 cents from 17 cents in the year-ago quarter.
In fiscal 2010, earnings … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pinnacle EPS Excels, Revenue Lags

Posted: 18 Feb 2011 11:05 AM PST

Pinnacle West Capital Corp. (NYSE:PNW) reported fourth quarter 2010 earnings of 6 cents per share, surpassing the Zacks Consensus Estimate of 1 cent and last year's loss of 16 cents. For full-year 2010, Pinnacle's earnings reached $3.08 per share, which exceeded the Zacks Consensus Estimate of $3.02 by 6 cents. Earnings for the year also outperformed the year-ago earnings of $2.30.
The results were helped by higher revenues from retail electricity rate increases, disciplined cost management … [visit site to read more] or compare Best Credit Cards and Best CD Rates

American Public Education Beats

Posted: 18 Feb 2011 11:05 AM PST

American Public Education Inc. (NASDAQ:APEI), an online provider of higher education to military and public service communities, recently delivered fourth-quarter 2010 results that topped the Zacks estimates. The quarterly earnings of 52 cents a share beat the Zacks Consensus Estimate of 47 cents, and rose 18% from 44 cents earned in the prior-year quarter.
Management now projects first-quarter 2011 earnings between 43 cents and 45 cents a share. The current Zacks Consensus Estimate for the quarter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Makes It To 1.3700

Posted: 18 Feb 2011 10:47 AM PST

The EURUSD has pushed above the 1.3686 and 1.3695 level and now looks toward the high for February at the 1.3745 level.  On the downside, the price staying above 1.3686 and below that the 1.3670 keep the bias firmly to the upside (1.3670 is the upward trendline in the chart above).  
The 5 minute chart below also supports the 1.3670 level as a level to eye below. That level corresponds with the 38.2% retracement of the last move higher in the pair. Intraday traders will look at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TRW Sales Shoot On Higher Volume

Posted: 18 Feb 2011 10:35 AM PST

TRWAutomotive Holdings Corp. (NYSE:TRW) posted a profit of $225 million or $1.72 per share in the fourth quarter of 2010 compared with $168 million or $1.40 per share in the same quarter of prior year. The profit outstripped the Zacks Consensus Estimate by 49 cents per share. The results excluded special items such as restructuring charges, debt retirement charges, a net gain related to pension obligations and favorable net tax items.
Sales in the quarter escalated 10% to $3.71 billion driven by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Lukewarm 2Q At Campbell’s

Posted: 18 Feb 2011 10:35 AM PST

Campbell Soup Co. (NYSE:CPB) reported fiscal 2011 second-quarter adjusted earnings of 71 cents per share, in line with the Zacks Consensus Estimate. However, quarterly earnings fell short of the year-ago results of 74 cents per share.

Campbell's net sales during the quarter declined by 1.0% year over year to $2,127 million, also missing the Zacks Consensus Estimate of $2,150 million. The decline was primarily caused by a 2% spike in promotional spending, partially offset by favorable currency … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mixed Results At BioMarin

Posted: 18 Feb 2011 10:35 AM PST

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) posted adjusted earnings per share of 1 cent in the fourth quarter 2010 (excluding special items but including stock-based compensation expenses), below the year-ago earnings of 5 cents per share. Earnings were affected by lower-than-expected revenues in the quarter. The Zacks Consensus Estimate had pointed toward a loss of 2 cents per share.
Total revenues climbed approximately 16.7% to $101.6 million in the reported quarter. Revenues in the reported … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 18 Feb 2011 10:35 AM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Friday.

AUD/USD was trading at 1.0145, up 0.26% at time of writing.

The pair was likely to find support at 0.9944, Tuesday's low, and resistance at 1.0157, today's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.34% to hit 1.3496 and AUD/JPY falling 0.001% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Dow And S&P…not Much Resistance Above”

Posted: 18 Feb 2011 10:30 AM PST

02/18/11 Meridian Equity Partners’ Jonathan Corpina discusses the extended gains in the major US stock … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ford Emulates Toyota’s Russian Move

Posted: 18 Feb 2011 10:05 AM PST

After Toyota Motor Corp. (NYSE:TM), Ford Motor Co. (NYSE:F) has also decided to join Russian automaker Sollers to manufacture and sell its vehicles in the country. Two of them signed an agreement to form a 50/50 joint venture.
The announcement came soon after Italian automaker Fiat SpA backed out of a partnership to produce up to 500,000 vehicles per year with the same Russian company. Ford Sollers will manufacture a range of Ford passenger cars, light commercial vehicles and engines at plants … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up In U.S. Trade

Posted: 18 Feb 2011 10:00 AM PST

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

NZD/USD was trading at 0.7640, up 0.66% at time of writing.

The pair was likely to find support at 0.7504, Tuesday's low, and resistance at 0.7643, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.40% to hit 1.3279 and EUR/NZD falling 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Zimmer’s Pathfinder Shows New Path

Posted: 18 Feb 2011 09:55 AM PST

Leading orthopedic devices company Zimmer Holdings (NYSE:ZMH) expanded its PathFinder portfolio with the launch of its next generation minimally invasive (MIS)pedicle screw system PathFinder NXT. The launch followed the success of the company's original PathFinder that supports a wide range of MIS spinal procedures. Zimmer has designed the new PathFinder NXT to support both mini-open and percutaneous approaches which will help the physicians to handle multi-level constructs more efficiently. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fieldserver Powers Sierra Monitor

Posted: 18 Feb 2011 09:55 AM PST

Ken Nagy, CFA
Fieldserver Powers Sierra Monitor
Sierra Monitor Corporation designs and develops hazardous gas monitoring devices for the protection of personnel and facilities in industrial work places. Through its subsidiary FieldServer Technologies the firm has branched into protocol translation technology, which enables machine to machine (M2M) communication in energy and building automation applications. This high growth business should complement the gas detection business, while not … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Mixed At Close; Dax Up 0.29%

Posted: 18 Feb 2011 09:55 AM PST

Forex Pros – European stocks were mixed after the closing bell on Friday.

At the close of European trade, Germany's DAX rose 0.29%, London's FTSE 100 shed 0.07%, France's CAC 40 climbed 0.12% and the EURO STOXX 50 was up 0.11%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.42%; the S&P 500 index gained 0.28%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Merge Posts Another Strong Quarter

Posted: 18 Feb 2011 09:35 AM PST

Merge Healthcare (NASDAQ:MRGE) reported an adjusted EPS of 4 cents in the fourth quarter of fiscal 2010, consistent with the year-ago period, although missing the Zacks Consensus Estimate by a penny. For the full year, adjusted EPS came in at 10 cents, missing the Zacks Consensus Estimate by a penny. Adjusted EPS in the previous year was 22 cents.
Merge reported revenues of $46.2 million in the quarter, up 139.4% from $19.3 million in the year-ago period. Results for the reported quarter include … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Marsh Drawing Strength From Boston

Posted: 18 Feb 2011 09:10 AM PST

Expanding its employee benefits coverage, yesterday, Marsh & McLennan Companies Inc.'s (NYSE:MMC) leading insurance brokerage wing, Marsh Inc. announced that its subsidiary, Marsh & McLennan Agency LLC (MMA) has acquired the employee benefits division of Kinloch Holdings Inc. in Boston. However, the terms and value of the deal remains undisclosed.
In 2007, Kinloch Holdings established Kinloch Consulting Group Inc. in Boston in order to tactfully handle the complex employee benefits needs … [visit site to read more] or compare Best Credit Cards and Best CD Rates

JPMorgan CEO Gets Hefty Bonus

Posted: 18 Feb 2011 09:05 AM PST

JPMorgan Chase & Co. (NYSE:JPM) announced that its board of directors has awarded Mr. Jamie Dimon, the Chairman and CEO, stocks and options worth $17.4 million for 2010. This represents about 22.5% increase from the amount he had received in 2009.
According to the filing with the Securities and Exchange Commission, JPMorgan's board granted Mr. Dimon 251,415 restricted shares valued at about $12.1 million (based on the closing price of February 16) and 367,377 options/stock appreciation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Under Pressure On Strong European Data

Posted: 18 Feb 2011 04:00 AM PST

02/18/11 The US dollar has reversed recent gains following strong economic reports out of Europe and a lack of domestic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of European Session

Posted: 18 Feb 2011 09:00 AM PST

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

EUR/USD was trading at 1.3672, up 0.46% at time of writing.

The pair was likely to find support at 1.3429, Monday's low, and resistance at 1.3673, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8418 and EUR/JPY rising 0.37% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Iron Condor Crops Up On Tyco International Ltd.

Posted: 18 Feb 2011 08:58 AM PST

Iron condor crops up on Tyco International Ltd.
Today’s tickers: TYC, JWN, ACOR & MRO
Tyco International Ltd. (NYSE:TYC) – An investor expecting shares in Tyco International to remain range bound over the next couple of months constructed an iron condor on the industrial products company using call and put options expiring in April. Shares in Tyco are currently up 0.40% to stand at $46.98 as of 10:40am in New York. The options strategist appears to have sold the 900-lot April $48/$50 call … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up Toward The End Of European Session

Posted: 18 Feb 2011 08:40 AM PST

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

EUR/USD was trading at 1.3662, up 0.39% at time of writing.

The pair was likely to find support at 1.3429, Monday's low, and resistance at 1.3667, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8417 and EUR/JPY rising 0.36% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: R. R. Donnelley

Posted: 18 Feb 2011 08:35 AM PST

R.R. Donnelley & Sons (NYSE:RRD), a leader in the commercial printing industry is scheduled to report fourth quarter 2010 results on February 22, before the market opens.
Third Quarter Highlights
Donnelley reported third quarter 2010 non-GAAP earnings of 44 cents per share, beating the Zacks Consensus Estimate of 42 cents. Earnings decreased 19.0% year over year from 54 cents.
Revenues increased 1.0% year over year to $2.48 billion, but fell short of the Zacks Consensus Estimate of $2.53 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: The Downside Prevails

Posted: 18 Feb 2011 08:28 AM PST

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

Canadian Dollar: The Downside Prevails

Posted: 18 Feb 2011 08:28 AM PST

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

Forex Trading: EURUSD Breaks Higher And Moves Toward 1.3667

Posted: 18 Feb 2011 08:27 AM PST

Strayer Tops, New Enrollment Falls

Posted: 18 Feb 2011 08:25 AM PST

Strayer Education, Inc. (NASDAQ:STRA), a for-profit education company, recently posted better-than-expected fourth-quarter 2010 results. The quarterly earnings of $2.73 per share beat the Zacks Consensus Estimate of $2.64 and jumped 18% from $2.32 earned in the year-ago quarter.
Total revenue for the quarter came in at $172 million, marginally short of the Zacks Consensus Estimate of $173 million but grew 17% from the prior-year quarter, buoyed by a rise in enrollment and a 5% increase in tuition … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Reliance Steel Beats Estimates

Posted: 18 Feb 2011 08:21 AM PST

Reliance Steel & Aluminum Co. (NYSE:RS) reported net income of $39.5 million or 53 cents per share in the fourth quarter of 2010 compared with $92.1 million or $1.25 per share in the prior-year quarter. Results surpassed the Zacks Consensus Estimate by 8 cents.
The fourth-quarter results included a pre-tax accounting charge of $10.0 million compared with a pre-tax accounting credit of $87.5 million in the fourth quarter of 2009.
In fiscal 2010, net income was $194.4 million or $2.61 per share … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Wal-Mart Stores

Posted: 18 Feb 2011 08:21 AM PST

Wal-Mart Stores Inc. (NYSE:WMT), one of the world's leading retail operators, is scheduled to report its fourth-quarter and full-year 2011 financial results on Tuesday, February 22, 2011. The current Zacks Consensus Estimate for earnings and revenue for the quarter to be reported are $1.31 per share and $1.18 billion, respectively.
Third-Quarter 2011, a Synopsis
Wal-Mart, which faces stiff competition from Costco Wholesale Corporation (NASDAQ:COST) and Target Corp. (NYSE:TGT), reported … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EOG Beats On Oil Volumes

Posted: 18 Feb 2011 08:21 AM PST

EOG Resources Inc. (NYSE:EOG), a major independent oil and gas exploration and production company, reported better-than-expected adjusted fourth-quarter 2010 results. Quarterly earnings of 36 cents per share topped the Zacks Consensus Estimate of 25 cents. However, earnings fell short of 92 cents earned in the year-earlier quarter.
Despite volume expansion and higher commodity prices, steeper operating expenses resulted in the annual earnings decline. The company also increased its quarterly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Intuit Lags Due To Revenue Shift

Posted: 18 Feb 2011 08:21 AM PST

Intuit Inc. (NASDAQ:INTU) reported second quarter 2011 adjusted earnings per share (EPS) of 25 cents, missing the Zacks Consensus Estimate of 27 cents. The adjusted EPS excludes amortization of acquired technology and intangible assets and tax adjustments, but includes stock-based compensation expenses. Shares increased 2.89% in after-market trade, which could be due to an improved earnings outlook.
Revenue
Intuit reported revenues of $878.0 million in the second quarter, up 4.9% from $837.0 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up Toward The End Of European Session

Posted: 18 Feb 2011 08:20 AM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 83.33, up 0.02% at time of writing.

The pair was likely to find support at 83.10, Monday's low, and resistance at 83.97, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.26% to hit 1.3645 and GBP/USD rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rises As Week Comes To Close

Posted: 18 Feb 2011 08:00 AM PST

02/18/11 Front month crude prices were on the upside this session following a steady decline in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Tests Intraday Support

Posted: 18 Feb 2011 07:56 AM PST

The GBPUSD is down testing support at the 1.6207 level (38.2% of the days range). The GBPUSD had a boost today on the much bettter than expected Retail Sales report, but has found some selling pressure as the NY morning has progressed. The pair approaches support against the 100 bar MA on the 5 minute chart above and the 38.2% retracement of the days surge higher at 1.6207. A move below these levels should solicit additional selling. 

On a break lower the 1.6195 (50% of the days range) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up Toward The End Of European Session

Posted: 18 Feb 2011 07:55 AM PST

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

GBP/USD was trading at 1.6215, up 0.25% at time of writing.

The pair was likely to find support at 1.5982, Monday's low, and resistance at 1.6246, today's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8408 and GBP/JPY rising 0.35% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bini Smaghi Spoils The Bond Party

Posted: 18 Feb 2011 07:52 AM PST

Global bonds are having a bad day heading into a three-day U.S. weekend after an ECB executive member warned Bloomberg news over the threat of rising prices. The prospect of rising interest rates spooked the front end of the German curve sending yields into a tailspin. Conversely a curious assessment from Japanese monetary policymakers weighed on yields in Japan as they questioned exuberance towards the recovering economy of the United States.
Eurodollar futures – Eurodollars have also declined … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The European Session

Posted: 18 Feb 2011 07:30 AM PST

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

EUR/USD was trading at 1.3630, up 0.15% at time of writing.

The pair was likely to find support at 1.3429, Monday's low, and resistance at 1.3646, today's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.12% to hit 0.8404 and EUR/JPY rising 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: CPB, F, TWX

Posted: 18 Feb 2011 07:28 AM PST

02/18/11 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

Morning News Notes: 2.18.11

Posted: 18 Feb 2011 06:59 AM PST

The morning news notes as prepared by TL… borrowing at ECB facility has been exceptionally elevated this week – the cause?, China tightens monetary policy, the US budgetary process rolls onward, the unemployment rate, and cotton has gone parabolic.

“Morning News Notes: February 18, 2011″

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

Bahamas Petroleum Encouraged By Early Interpretations Of Survey Work

Posted: 18 Feb 2011 01:29 AM PST

Bpc (LON:BPC) , the oil and gas exploration company with licenses in The Bahamas, said this morning that two new independent studies of recent surveys over its licences showed numerous potential oil and gas structures, which are significantly larger than previously expected. The findings are some of the earliest assessments of recent data studies in the region, with full interpretation expected to take two more months. The company said it was now considering carrying out a 3D seismic survey. … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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