DailyMarkets.com - Bank Failures Reach 23 |
- Bank Failures Reach 23
- S&P Upgrades JPM’s Rating Outlook
- Hot Option Plays: Are There Any More Surprises?
- Forex – EUR/USD Up In U.S. Trading Hours
- The Fundamental Perspective Behind The US Dollar This Week
- Berkshire Gains On Higher Revenue
- Cooper Tire Profits Skid
- Cracker Barrel Reports In Line
- Natgas Supplies Fall As Expected
- Jack In The Box Beats
- Volcom Delivers Decent 4Q
- TiVo Infringes Motorola’s Patents
- Forex – AUD/USD Down In U.S. Trade
- “You Have To Watch Geopolitical Situation”
- Forex – NZD/USD Down During The U.S. Session
- Bullish Players Pick Up Calls At Staples Ahead Of Earnings
- Domestic Dampener For Telefonica 4Q
- Rowan Beats On Bottom Line
- European Markets Mixed At Close; Dax Up 1.21%
- Earnings Preview: Costco
- Personal Income Jumps On Tax Cut
- No Change At U.S. Bancorp
- Toys ‘R’ Us Plans For IPO
- PLD Report On Mexico Infrastructure
- Daily Charting Silver And Gold SLV GLD At New Highs
- Forex – EUR/USD Up At The End Of European Session
- Dollar Declines Continue On Middle East Uncertainty
- Setback For Protalix Gaucher Drug
- FirstEnergy Clinches Allegheny Buy
- AMAG Cuts Losses; Maintains Guidance
- Australian Dollar: The Downside Prevails
- Canadian Dollar: The Downside Prevails
- Forex – Dollar Slumps Vs. Rivals After Raft Of Mixed U.S. Data
- Mixed Bag For Bond Opening
- The Vicious Cycle Of Government Unions
- Forex – GBP/USD Surges To 3-day High After String Of U.S. Data
- Opening Bell Market Monitor: HBC, NHP, VTR
- Forex – EUR/USD Holds Gains After Flurry Of Mixed U.S. Data
- EUR/USD Jumps To 3-Week High As Traders Focus On Interest Rate Differentials
- Engineering Group Melrose Sells Off Smaller Business Units
| Posted: 28 Feb 2011 11:35 AM PST U.S.regulators on Friday shuttered St. Charles, Illinois-based Valley Community Bank, pushing up the number of failed U.S. banks to 23 so far in 2011. This was preceded by 157 bank failures in 2010, 140 in 2009 and 25 in 2008.
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| S&P Upgrades JPM’s Rating Outlook Posted: 28 Feb 2011 11:25 AM PST Last Friday, Standard & Poor’s (S&P) Ratings Services lifted its outlook on JPMorgan Chase & Co. (NYSE:JPM) to 'Stable' from 'Negative.' The rating agency is impressed by JPMorgan's improved credit quality and its capability to generate outstanding earnings growth. The agency also believes that JPMorgan is now well positioned to deal with any setback from the economic revival.
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| Hot Option Plays: Are There Any More Surprises? Posted: 28 Feb 2011 11:18 AM PST Cusick's Corner
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| Forex – EUR/USD Up In U.S. Trading Hours Posted: 28 Feb 2011 11:15 AM PST Forex Pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending. EUR/USD was trading at 1.3793, up 0.28% at time of writing. The pair was likely to find support at 1.3672, Wednesday's low, and resistance at 1.3855, today's high. Earlier in the day, official data showed that U.S. personal spending rose less-than-expected to a seasonally adjusted 0.20% last month from 0.50% in the preceding month whose figure was revised down from … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| The Fundamental Perspective Behind The US Dollar This Week Posted: 28 Feb 2011 11:06 AM PST The Fundamental Perspective Behind US Dollar This Week:
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| Berkshire Gains On Higher Revenue Posted: 28 Feb 2011 11:05 AM PST Berkshire Hathaway Inc.’s (BRK.A) (BRK.B) fourth-quarter operating earnings of $1.66 per share was up 38% year over year led by an increase in operating earnings from its non-insurance businesses – Utilities & Energy and Manufacturing, Service & Retailing. Its insurance business, which includes underwriting and investment, however, reported a 1.1% decline in operating earnings. Overall operating earnings increased 4.3% over the prior-year period.
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| Posted: 28 Feb 2011 11:05 AM PST Cooper Tire & Rubber Company (NYSE:CTB) reported a profit of $41.2 million or 65 cents per share in the fourth quarter of 2010, falling short of the Zacks Consensus Estimate by a penny. The profit fell 19.5% from $51.2 million or 82 cents per share in the fourth quarter of 2009.
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| Cracker Barrel Reports In Line Posted: 28 Feb 2011 11:05 AM PST Cracker Barrel Old Country Store Inc. (CBRL) reported second quarter 2011 earnings of $1.20, in line with the Zacks Consensus Estimate, but climbed 10% from the prior-year quarter. The upside was primarily due to higher sales and operating income.
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| Natgas Supplies Fall As Expected Posted: 28 Feb 2011 10:35 AM PST The U.S. Energy Department’s weekly inventory release showed an in line drop in natural gas supplies, snapping a trend of above-consensus draws. This can be primarily attributable to relatively warm weather, which not only reduced heating consumption but also allowed production to resume in facilities that were previously freezed-off/shut-in due to severe cold weather.
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| Posted: 28 Feb 2011 10:35 AM PST Jack in the Box Inc. (JACK) posted first-quarter 2011 earnings of 61 cents per share, surpassing the Zacks Consensus Estimate of 46 cents as well as the year-ago quarter earnings of 43 cents. The results included a gain of 34 cents per share from the sale of 88 restaurants to franchisees; however, excluding the gain, earnings were 27 cents per share in the quarter.
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| Posted: 28 Feb 2011 10:35 AM PST Volcom Inc. (NASDAQ:VLCM), delivered net earnings of 7 cents per diluted share for fourth-quarter 2010, which was down 50% compared with 14 cents per share in the same period a year ago. However, the quarter's result marginally surpassed the Zacks Consensus estimate of 6 cents.
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| TiVo Infringes Motorola’s Patents Posted: 28 Feb 2011 10:35 AM PST TiVo Inc. (NASDAQ:TIVO), a developer of advanced television services including digital video recorders (DVR), was accused of infringing DVR patents according to a latest suit filed by Motorola Mobility Holdings Inc. (MMI).
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| Forex – AUD/USD Down In U.S. Trade Posted: 28 Feb 2011 10:35 AM PST Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of U.S. data on Chicago PMI. AUD/USD was trading at 1.0173, down 0.02% at time of writing. The pair was likely to find support at 0.9982, Wednesday's low, and resistance at 1.0193, today's high. Earlier in the day, data showed that The U.S.'s Chicago PMI rose unexpectedly to a seasonally adjusted 71.20 last month from 68.80 in the preceding month. Analysts had expected the Chicago PMI to … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| “You Have To Watch Geopolitical Situation” Posted: 28 Feb 2011 10:17 AM PST 02/28/11 ICAP’s Kenneth Polcari weighs in on today’s market advance, and his fundamental focus for … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – NZD/USD Down During The U.S. Session Posted: 28 Feb 2011 10:00 AM PST Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Monday. NZD/USD was trading at 0.7518, down 0.01% at time of writing. The pair was likely to find support at 0.7428, Wednesday's low, and resistance at 0.7554, today's high. Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.01% to hit 1.3537 and EUR/NZD rising 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Bullish Players Pick Up Calls At Staples Ahead Of Earnings Posted: 28 Feb 2011 09:56 AM PST Bullish players pick up calls at Staples ahead of earnings
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| Domestic Dampener For Telefonica 4Q Posted: 28 Feb 2011 09:55 AM PST Spanish telecom giant Telefonica (NYSE:TEF) reported fourth quarter and fiscal 2010 results. Fourth quarter earnings per share of €0.30 ($0.41) not only missed the Zacks Consensus Estimate of $0.95, it also came in below €0.54 earned in the year-ago quarter.
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| Posted: 28 Feb 2011 09:55 AM PST Rowan Companies Inc. (NYSE:RDC) recorded adjusted fourth-quarter 2010 earnings of 42 cents per share, breezing past the Zacks Consensus Estimate of 29 cents but down from the year-earlier profit of 52 cents. The trend was similar for full year 2010, with adjusted profit of $2.59 per share beating the Zacks Consensus Estimate of $2.44 but showing deterioration from $2.99 posted in the prior year.
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| European Markets Mixed At Close; Dax Up 1.21% Posted: 28 Feb 2011 09:55 AM PST Forex Pros – European stocks were mixed after the closing bell on Monday. At the close of European trade, Germany's DAX rose 1.21%, London's FTSE 100 shed 0.12%, France's CAC 40 climbed 0.98% and the EURO STOXX 50 was up 0.94%. Earlier in the day, official data showed that U.S. personal spending rose less-than-expected to a seasonally adjusted 0.20% last month from 0.50% in the preceding month whose figure was revised down from 0.70%. Analysts had expected personal spending to rise … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 28 Feb 2011 09:35 AM PST Costco Wholesale Corporation (NASDAQ:COST) is scheduled to report its second-quarter 2011 financial results on March 2, 2011. The current Zacks Consensus Estimate for the quarter is 78 cents a share. For the quarter under review, revenue is $20,514 million, according to the Zacks Consensus Estimate.
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| Personal Income Jumps On Tax Cut Posted: 28 Feb 2011 09:35 AM PST In January, Personal Income rose 1.0%, well above the 0.4% rise in December, and a 0.3% increase in November. The increase was far above the 0.3% consensus expectation. However, most of the increase was due to the 2.0% cut in the employee side of the payroll tax. Payroll taxes, and other contributions to social insurance, are counted as a subtraction from personal income. So if they fall, personal income rises. Of the $133.2 billion increase in overall personal income, $94.9 billion was due to … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 28 Feb 2011 09:10 AM PST We are reiterating our Neutral recommendation on the shares of U.S. Bancorp (NYSE:USB) following the company's fourth quarter and full year earnings release as well as its recent acquisitions. Our analysis is based on the company's fundamentals, recent strategic acquisitions, threats, challenges and current economic trend.
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| Posted: 28 Feb 2011 09:05 AM PST Toys 'R' Us, the leading global retailer of dedicated toys and baby products, intends to file for an initial public offering (IPO) in April 2011. Insiders familiar with the event expect it to raise about $800 million from the IPO. Toys 'R' Us had earlier planned to file for an IPO in May 2010, but later discarded the plan.
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| PLD Report On Mexico Infrastructure Posted: 28 Feb 2011 09:05 AM PST ProLogis (NYSE:PLD), a leading global provider of distribution facilities, recently came out with its research report on the rapid strides made by Mexico regarding the expansion and modernization of its interstate highway system. The research report, titled "Mexico’s Evolving Network of Modern Interstate Roadways," explored the infrastructure improvements achieved by the country in accordance with the 'National Infrastructure Program' launched in 2007.
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| Daily Charting Silver And Gold SLV GLD At New Highs Posted: 28 Feb 2011 09:05 AM PST With QE2, Libya/riot concerns, and the prevailing up-trends all helping push leading precious metals funds GLD (Gold ETF) and SLV (Silver ETF) to their upper resistance breaking point, let's take a look at the current daily chart structure, note key levels to watch, and see what the charts say at the moment. Compare the two charts and – if you haven't been paying attention – you'll be surprised at the clear outperformance of … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – EUR/USD Up At The End Of European Session Posted: 28 Feb 2011 09:00 AM PST Forex Pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Chicago PMI. EUR/USD was trading at 1.3795, up 0.29% at time of writing. The pair was likely to find support at 1.3672, Wednesday's low, and resistance at 1.3855, today's high. Earlier in the day, data showed that The U.S.'s Chicago PMI rose unexpectedly to a seasonally adjusted 71.20 last month from 68.80 in the preceding month. Analysts had expected the Chicago PMI to fall to 67.50 … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Dollar Declines Continue On Middle East Uncertainty Posted: 28 Feb 2011 08:50 AM PST 02/28/11 The US dollar continued its slide this session following a growing concerns over the health of oil production nations in the Middle … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Setback For Protalix Gaucher Drug Posted: 28 Feb 2011 08:22 AM PST Protalix BioTherapeutics, Inc. (PLX) was dealt a huge blow recently with the US Food and Drug Administration (FDA) issuing a complete response letter (CRL) for the company's Gaucher disease candidate, taliglucerase alfa.
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| FirstEnergy Clinches Allegheny Buy Posted: 28 Feb 2011 08:22 AM PST FirstEnergy Corp. (NYSE:FE) on Friday concluded its long-awaited merger deal with Allegheny Energy Inc. (NYSE:AYE), thus creating one of the nation's largest energy companies. The completion of the $4.7 billion merger, which was entered on February 11, 2010, marks the beginning of the companies' combined operations.
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| AMAG Cuts Losses; Maintains Guidance Posted: 28 Feb 2011 08:22 AM PST AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) posted a loss of 83 cents per share (excluding a one-time restructuring charge) during the fourth quarter of fiscal 2010, lower than the Zacks Consensus Estimate of a loss of $1.05 per share and the year-ago loss of $1.07 per share. Higher Feraheme revenues led to the narrower loss in the quarter.
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| Australian Dollar: The Downside Prevails Posted: 28 Feb 2011 08:20 AM PST Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Canadian Dollar: The Downside Prevails Posted: 28 Feb 2011 08:20 AM PST Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – Dollar Slumps Vs. Rivals After Raft Of Mixed U.S. Data Posted: 28 Feb 2011 08:10 AM PST Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Monday, after a flurry of data painted a mixed picture of the U.S. economic recovery. During European late afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.38% to hit 1.3806. Earlier Monday, official data showed that final euro zone inflation rate for January came in slightly softer than the initial estimate but still accelerated at the fastest pace since October 2008, rising … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 28 Feb 2011 08:03 AM PST Bond markets are mixed around the world as investors attempt to get a better handle on the impact of spreading Middle Eastern unrest on the price of oil. Fears of a resultant slump in global growth have been calmed, but given the lack of clarity on quite how long prices might remain elevated there have been no major signs of selling by bond holders. The week is marked by likely conflicting evidence from heads at the Fed and the ECB where one is likely to focus on employment and the other on the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| The Vicious Cycle Of Government Unions Posted: 28 Feb 2011 07:38 AM PST A good summary of the vicious cycle of government unions, from Katherine Kersten writing yesterday’s StarTribune: “Here’s the vicious cycle: Union leaders take money from union dues and pass it to Democratic candidates. Once elected, the politicians “negotiate” with the unions that helped elect them. In essence, the unions hire their own bosses who face them across the bargaining table. Politicians repay unions’ financial support by doling out hefty pensions and benefits. It’s easy to be … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – GBP/USD Surges To 3-day High After String Of U.S. Data Posted: 28 Feb 2011 07:34 AM PST Forex Pros – The pound extended gains against the U.S. dollar on Monday, surging to a three-day high, following the release of a string of mixed U.S. economic data. GBP/USD hit 1.6271 during European late afternoon trade, the pair's highest since last Wednesday; the pair subsequently consolidated at 1.6258, surging 0.87%. Cable was likely to find support at 1.6070, the day's low and short-term resistance at 1.6293, the high of November 5 and an 11-month high. Earlier in the day, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Opening Bell Market Monitor: HBC, NHP, VTR Posted: 28 Feb 2011 07:26 AM PST 02/28/11 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
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| Forex – EUR/USD Holds Gains After Flurry Of Mixed U.S. Data Posted: 28 Feb 2011 07:24 AM PST Forex Pros – The euro held gains against the U.S. dollar on Monday, trading close to an 18-day high after a flurry of data painted a mixed picture of the U.S. economic recovery. EUR/USD hit 1.3855 during European late afternoon trade; the pair's highest since February 2; the pair subsequently consolidated at 1.3832, gaining 0.58%. The pair was likely to find support at 1.3646, last Wednesday's low and short-term resistance at 1.3860, the high of February 2 and a three-month … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| EUR/USD Jumps To 3-Week High As Traders Focus On Interest Rate Differentials Posted: 28 Feb 2011 07:20 AM PST We start the week with USD weakness permiating through currency markets while the EUR strengthened on the back of expectations for Thursday's ECB interest rate meeting.
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| Engineering Group Melrose Sells Off Smaller Business Units Posted: 28 Feb 2011 02:09 AM PST Melrose (LON:MRO) , the FTSE 250 engineering specialist that buys up underperforming businesses, turns them around and then sells them for a profit, has sold three of its smaller assets. Since the start of 2011, Madico, Logistex UK and Brush Traction have all been sold, pulling in aggregate sale proceeds of approximately £20.5m. Distribution Madico Inc is a Canadian manufacturer and distributor of a complete line of floor protection and casters and was part of the FKI Group acquired by … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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