Tuesday, February 8, 2011

DailyMarkets.com - Central Bank Of Armenia Raises Rate 50bps To 7.75%

DailyMarkets.com - Central Bank Of Armenia Raises Rate 50bps To 7.75%

Central Bank Of Armenia Raises Rate 50bps To 7.75%

Posted: 08 Feb 2011 04:47 PM PST

The Central Bank of Armenia raised the annual refinancing rate 50 basis points to 7.75% from 7.25% previously. Armenia recorded monthly inflation of 2.8% in January this year, placing the annual inflation rate at 10.6% as rising food and commodity prices caused a surge in inflationary pressures. The Armenian Government noted in the state budget of Armenia 2011 that its inflation target is planned as 4.0% with a band of +/- … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Down During The Asian Session

Posted: 08 Feb 2011 04:45 PM PST

Forex Pros – The British Pound was lower against the Japanese Yen on Wednesday.

GBP/JPY was trading at 132.14, down 0.17% at time of writing.

The pair was likely to find support at 130.94, Friday's low, and resistance at 133.26, Monday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.07% to hit 1.6058 and EUR/GBP rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Earnings, Bernanke Testimony, UK And German Trade Balance, China HSBC Services PMI

Posted: 08 Feb 2011 03:50 PM PST

02/09/11 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

Forex – NZD/USD Up In Asian Trade

Posted: 08 Feb 2011 03:50 PM PST

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

NZD/USD was trading at 0.7755, up 0.06% at time of writing.

The pair was likely to find support at 0.7668, Friday's low, and resistance at 0.7788, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.02% to hit 1.3088 and EUR/NZD falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ETF News Update: Magic Markets Levitate Higher Yet

Posted: 08 Feb 2011 03:42 PM PST

Like a magician in Las Vegas, global equities markets continue to dazzle their audiences with near historic feats of daring do that to some observers claim to be nothing short of grand illusion. 
The news continues to be largely positive with Disney (NYSE:DIS) posting a 54% profit improvement after hours and completely eclipsing expectations, while a major measure of retail index activity hit its highest level in nearly three years. 
Consumer deleveraging may have come to an abrupt end … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Amtech Tops Consensus

Posted: 08 Feb 2011 03:40 PM PST

Amtech Systems Inc. (NASDAQ:ASYS) reported fiscal first quarter 2011 diluted earnings per share of 52 cents, moving ahead of Zacks Consensus Estimate of 37 cents. Though the reported earnings was down 10.3% sequentially, it was up considerably from 1 cent that it had earned in the year ago quarter.
Quarterly Performance
Revenue of $53.7 million not only beat Zacks Consensus Estimate of $47.0 million, it was up 18.0% sequentially and 246.5% from the year ago quarter. On a segment basis, revenue from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Netgear Moves Past Estimates

Posted: 08 Feb 2011 03:20 PM PST

Netgear Inc. (NASDAQ:NTGR) reported fourth quarter 2010 Non-GAAP earnings per share of 44 cents beating the Zacks Consensus Estimate of 41 cents. The EPS increased 29.4% from the year-ago quarter but shed 2.2% sequentially.
For full year 2010, the non-GAAP earnings per diluted share soared 155.9% from last year to $1.74 per share. This surpassed the Zacks Consensus Estimate of $1.56 per share.
The Past Quarter & The Year
Management was elated by the performance of 2010 and the fourth quarter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: 2011 Timers Market

Posted: 08 Feb 2011 03:18 PM PST

Cusick's Corner
The market continued to chop into the After Hours, there was a lack of buying on the highs in the major indices, S&P March futures closed 1320. Energy, CLH11, was really the only market under pressure, primarily because of the strength in the greenback. 2011 will be a timers market which reaffirms one of my points earlier this year that every sector moving in unison was a Q4 2010 phenomenon, so in 2011 we will have to carefully pinpoint where we are positioned. Right now … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ITW To Get Tax Benefits

Posted: 08 Feb 2011 03:10 PM PST

Illinois Tool Works Inc. (NYSE:ITW), on February 4, received a favorable judgment from the Federal Court of Australia in relation to tax a dispute case with the Australian Taxation Office.
The dispute was over income tax deductions in connection with an intercompany financing transaction. The company will be granted significant allowable tax deduction in the first quarter of 2011. Both parties are required to submit orders by February 18, 2011, according to the court rulings.
Illinois Tool engages … [visit site to read more] or compare Best Credit Cards and Best CD Rates

M&T Bank Reiterated At Neutral

Posted: 08 Feb 2011 03:10 PM PST

We reiterate our Neutral recommendation on M&T Bank Corporation (NYSE:MTB) following its fourth quarter and full-year 2010 earnings release. The reiteration is based on the company's fundamentals, recent acquisitions and the current economic environment.
Fourth Quarter and Full-Year 2010 Results
M&T Bank Corp.'s fourth quarter operating earnings of $1.52 per share exceeded the Zacks Consensus Estimate of $1.45. Earnings expanded significantly from $1.16 per share earned in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

There’s No Food Inflation In The U.S.

Posted: 08 Feb 2011 02:37 PM PST

We hear a lot lately about how the prices for commodities, metals (gold and copper), agricultural products and food are rising, but it sure hasn’t started showing up yet in the CPI for Food and Beverages, see chart above of annual price inflation for that series.  Annual food inflation through December 2010 was only 1.5%, more than a full percent below the ten-year average of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Top Trade Ideas For Wednesday, February 9

Posted: 08 Feb 2011 02:37 PM PST

( click to enlarge )

Rambus Inc. (NASDAQ:RMBS), after a big price-volume surge in December, the stock has consolidated in the last two months in the 20-21.50 trading range, which looks like it’s ready to be broken. The consolidation and compression that has been going on in the last weeks is very healthy. The technical daily chart still showing a bullish bias. KD line shows positive signs as %K line is rising on top over %D line and RSI continue moving up. If a breakout occurs I expect to see the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Drab 2010 For PartnerRe

Posted: 08 Feb 2011 02:35 PM PST

PartnerRe Ltd.'s (NYSE:PRE) fourth quarter operating earnings per share of $1.52 came in substantially higher than the Zacks Consensus Estimate of $1.30 per share. However, this was way behind the earnings of $3.87 per share in the year-ago quarter.
Operating earnings were calculated after payment of preferred dividends. This excluded after-tax net realized and unrealized investment gains of $71.8 million or 96 cents for the reported quarter, up from $17.6 million or 22 cents in the year-ago … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stryker Wraps Up OP-1 Sale

Posted: 08 Feb 2011 02:35 PM PST

Stryker Corp (NYSE:SYK) has completed the divestiture of its bone growth product franchise (the "OP-1" product line) to Tokyo-based optical, medical and communication equipment maker Olympus Corporation for $60 million. The transaction includes the Michigan-based company's manufacturing plant in Lebanon, New Hampshire. Stryker forged a definitive agreement to jettison these assets in December 2010.
The OP-1 product line includes OP-1 Implant and OP-1 Putty for use in orthopedic bone … [visit site to read more] or compare Best Credit Cards and Best CD Rates

OPTR-Astellas Pact For Fidaxomicin

Posted: 08 Feb 2011 02:35 PM PST

Optimer Pharmaceuticals Inc. (NASDAQ:OPTR) recently announced that it has entered into an exclusive collaboration and license agreement with Astellas Pharma Europe Ltd. for the development and commercialization of its pipeline candidate, fidaxomicin, in Europe and certain other countries in the Middle East, Africa and Commonwealth of Independent States (CIS).
Fidaxomicin is an antibiotic which is being developed for the treatment of clostridium difficile infection (CDI), the most common nosocomial … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ericsson Beats Estimates

Posted: 08 Feb 2011 02:10 PM PST

LM Ericsson Telephone Company (NASDAQ:ERIC) reported earnings of 28 cents per share from continuing operations for the fourth quarter of 2010, exceeding the Zacks Consensus Estimate of 25 cents.
Revenues in the quarter were up 8% on a year-over-year basis to SEK 62.8 billion ($9.25 billion) and were up 32% sequentially. Comparable sales after adjusting for currency effects decreased 7% compared to the prior-year quarter.
Sales in Networks increased 14% year-over-year and 40% sequentially, driven by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Pricing Plans From Dominion

Posted: 08 Feb 2011 02:10 PM PST

Dominion Virginia Power, a subsidiary of Dominion Resources Inc. (NYSE:D), is seeking the approval of the Virginia State Corporation Commission for an electric pricing program meant to encourage customers to charge plug-in electric vehicles during off-peak hours.
The proposed pilot program is designed to offer different pricing options, depending on the time of day. The voluntary program will offer reduced rates for overnight charging and higher rates during peak times to Virginia … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: MCD, SLE, UBS, KND

Posted: 08 Feb 2011 02:00 PM PST

02/08/11 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: 08 Feb 2011 01:55 PM PST

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

EUR/USD was trading at 1.3624, up 0.30% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3826, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.58% to hit 0.8480 and EUR/JPY rising 0.32% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Treasury Spread Shows No Sign Of Inflation

Posted: 08 Feb 2011 01:44 PM PST

The current spread between nominal 10-year Treasuries at 3.68% (data) and 10-year TIPS (data) at 1.30% has increased slightly over the last few months, to the current level of 238 basis points as of February 4.  But the current spread is still below the 250 basis point average during 2004, 2005, 2006, 2007 and the first half of 2008 (see chart above).  At least by this Treasury bond-market derived estimate of future inflation, there don’t appear to be any inflationary pressures … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GE Oil & Gas Wins Order

Posted: 08 Feb 2011 01:40 PM PST

The Oil and Gas Division of General Electric Company (NYSE:GE) has been awarded a contract to provide seven subsea tree and wellhead systems, by Maersk Oil North Sea UK Limited for deployment in the U.K. North Sea.
Under the agreement, GE Oil & Gas will supply subsea wellheads, trees and tubular products to Maersk Oil for exploration and development projects for a five-year period.
GE has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ACE Wraps Up Korean Acquisition

Posted: 08 Feb 2011 01:40 PM PST

Property and casualty insurer, ACE Limited (NYSE:ACE) wrapped up the acquisition of New York Life's Korea business for $75 million in cash.
Initially, in October 2010, ACE Limited had inked a deal to acquire New York Life's Hong Kong and Korea life insurance operations for a cash consideration of $425 million. The agreement, was however, amended to facilitate separate closings for the Korea and Hong Kong operations.
The acquisition of New York Life's operations in Hong Kong is also expected … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Natco Challenges Gilead’s Tamiflu

Posted: 08 Feb 2011 01:40 PM PST

Gilead Sciences, Inc. (NASDAQ:GILD) received a notification regarding a patent challenge for its flu drug Tamiflu (oseltamivir phosphate) 75 mg capsules. As per the notification, Indian pharma company Natco Pharma Limited filed an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration (FDA) seeking permission to manufacture and market generic versions of 75 mg Tamiflu capsules in the US. Gilead receives royalties from Roche (RHHBY) on sales of the drug.
The ANDA contains … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up Toward The End Of U.S. Session

Posted: 08 Feb 2011 01:40 PM PST

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

USD/JPY was trading at 82.35, up 0.04% at time of writing.

The pair was likely to find support at 81.13, Friday's low, and resistance at 82.47, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.32% to hit 1.3627 and GBP/USD falling 0.26% to hit … [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: 08 Feb 2011 01:25 PM PST

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

EUR/USD was trading at 1.3631, up 0.35% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3826, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.61% to hit 0.8482 and EUR/JPY rising 0.35% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Close Higher; Dow Jones Up 0.59%

Posted: 08 Feb 2011 01:10 PM PST

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

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.59%, the S&P 500 index gained 0.42%, while the Nasdaq 100 index climbed 0.61%.

Meanwhile, across the Atlantic, European stock markets closed higher. France's CAC 40 was up 0.43%; Germany's DAX gained 0.54%; Britain's FTSE 100 climbed 0.67%; and the EURO STOXX 50 rose … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Anadarko’s New Mozambique Discovery

Posted: 08 Feb 2011 01:09 PM PST

Independent oil and gas company Anadarko Petroleum Corporation (NYSE:APC) made its fourth natural gas discovery in the offshore Rovuma Basin. This natural gas discovery adds another feather to Anadarko's series of major deepwater discoveries offshore Mozambique, over a period of time.
The discovery well at the Tubarao prospect, drilled to a total depth of 13,900 feet (4,237 meters), encountered more than 110 net feet (34 meters) of natural gas pay and no water in a high-quality Eocene-age … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Label Updated For BMY’s Drug

Posted: 08 Feb 2011 01:09 PM PST

Recently, Bristol-Myers Squibb Company (NYSE:BMY) announced that the US Food and Drug Administration (FDA) has approved an update to the label of the pharma major's human immunodeficiency virus (HIV) therapy Reyataz (atazanavir sulfate). The updated label will include dose recommendations for pregnant women infected with HIV.
The update to Reyataz's label was approved based on data from a multicenter, open-label, single arm, pharmacokinetic study. The study evaluated 41 HIV infected women, who … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 08 Feb 2011 12:45 PM PST

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

GBP/USD was trading at 1.6074, down 0.23% at time of writing.

The pair was likely to find support at 1.6029, today's low, and resistance at 1.6278, Thursday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.63% to hit 0.8484 and GBP/JPY falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ArcelorMittal Suffers Losses

Posted: 08 Feb 2011 12:40 PM PST

Steel giant ArcelorMittal (NYSE:MT) reported diluted net loss of 51 cents per share in the fourth quarter of 2010, much below the Zacks Consensus Estimate of 19 cents as well as last year's 89 cents. The reported loss was attributable to impairments and some were also related to Aperam.   However, in fiscal 2010, ArcelorMittal earned $1.72 per diluted share versus 11 cents in the prior year.
Total steel shipments in the fourth quarter of 2010 were 21.1 million metric tonnes compared … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Abercrombie’s Comparables Slide

Posted: 08 Feb 2011 12:40 PM PST

Abercrombie & Fitch Co. (NYSE:ANF), a specialty retailer of casual apparel, reported solid sales albeit at lower comps for the four-week period ended January 29, 2011.  After an increase of 22% in November, the comparables somewhat moderated to a 15.0% growth in December and then fell to a 4.0% decline in January 2011.
In the month under review, total company direct-to-consumer net merchandise sales climbed 23% to $33.9 million and total company international net sales, including … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NYSE Euronext Clears Low Bar

Posted: 08 Feb 2011 12:10 PM PST

NYSE Euronext Inc.'s (NYSE:NYX) fourth quarter operating earnings per share of 46 cents came in a couple of pennies ahead of the Zacks Consensus Estimate of 44 cents. However, earnings were substantially behind the 58 cents recorded in the year-ago quarter.
Results reflect weak transaction and clearing volumes, particularly in the European derivatives and U.S. cash trading that primarily lowered the top line. Both New York Portfolio Clearing (NYPC) and NYSE Liffe U.S. are currently incurring … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ensco To Take “Pride”

Posted: 08 Feb 2011 12:10 PM PST

Ensco plc (NYSE:ESV) announced that it will acquire Pride International (NYSE:PDE) in a cash and stock deal valued at $7.3 billion. This move will make Ensco the world’s second-largest offshore oil and gas driller behind Transocean Inc. (NYSE:RIG) with significant presence in lucrative deepwater markets off Brazil and West Africa.
Per the agreement, Ensco will buy Pride for $41.60 per share, which is at a 21% premium to Pride’s closing share price as on February 4, 2011. Pride stockholders will receive … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up In U.S. Trade

Posted: 08 Feb 2011 12:05 PM PST

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

USD/CAD was trading at 0.9961, up 0.53% at time of writing.

The pair was likely to find support at 0.9832, Friday's low, and resistance at 0.9978, today's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.32% to hit 1.3626 and GBP/USD falling 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dillard’s January Sales Up

Posted: 08 Feb 2011 11:40 AM PST

Dillard’s Inc. (NYSE:DDS), the leading apparel and home furnishing retailer in the United States reported an increase of 6% in same-store sales for the four-week period ended January 29, 2011. Results of the month compared favorably with same store sales declining 5% for the four- week period ended January 30, 2010.
Merchandise sales for the period increased 6% to $376.0 million compared with a decline of 6% for the four-week period ended January 30, 2010. Region-wise, sales trend was above … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Entergy Scrapes Past Consensus

Posted: 08 Feb 2011 11:35 AM PST

Before the bell, Entergy Corporation (NYSE:ETR) reported its fourth quarter and fiscal 2010 results. In the reported quarter, the company reported operational EPS of $1.30, scraping past the Zacks Consensus Estimate of $1.29. Earnings however, came lower than the year-ago quarter's $1.75.
Earnings in the reported quarter were lower than the year-ago period by 45 cents. Of these Utility EPS was 9 cents lower due to higher fossil outage spending, higher reliability-related spending, and higher … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sara Lee Misses, Reaffirms Guidance

Posted: 08 Feb 2011 11:35 AM PST

Sara Lee Corp. (NYSE:SLE) reported strong operating income growth for the second quarter of fiscal 2011, driven by significant improvement in operating segment income across the company, particularly in the North American Retail and International Beverage business segments and lower corporate expenses.
Adjusted earnings for the quarter were 24 cents a share compared to 27 cents during the same period of fiscal 2010. Earnings were also a penny below the Zacks Consensus Estimate of 25 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Future High Noon Showdown

Posted: 08 Feb 2011 11:18 AM PST

Cusick's Corner
The market is continuing its grind higher in spite of the rate hike in China and the strike by workers in the Suez Canal. While it is hard to say that a top is in place, I am getting a sense that this grinding move higher is more like a high noon showdown between the bulls and the bears that has not been seen since the beginning of November. What was notable about that movement — yes, the pullback was fast and deep but it also established new entrants that have taken us to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 08 Feb 2011 11:15 AM PST

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

EUR/USD was trading at 1.3644, up 0.45% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3826, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.66% to hit 0.8487 and EUR/JPY rising 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Analyst Interviews: Health Insurance Industry Outlook

Posted: 08 Feb 2011 11:10 AM PST

Health insurance companies finished 2010 strongly gaining from a drop in medical utilization by members, driven primarily by the extremely weak labor market. Bad weather also kept them indoors during the final quarter of the year. We believe utilization will remain soft in 2011, which will act as a tailwind for the industry.

Looking at past trends when unemployment increased rapidly in 2008, utilization factor did not see a proportionate drop, indicating that it typically lags the former. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TransDigm Posts Lesser Loss

Posted: 08 Feb 2011 11:10 AM PST

TransDigm Group Incorporated (NYSE:TDG) reported first quarter 2011 loss per share of 19 cents, which was below the Zacks Consensus Estimate of loss per share of 32 cents.
The company incurred one-time refinancing cost of $47.2 million, net of tax, or $0.89 per share and the acquisition and transaction related costs associated with the acquisition of McKechnie and Teleflex actuation business (Talley Actuation) of $6.1 million, net of tax, or $0.12 per share. Effects of these costs were offset by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Rotates Down After Testing Resistance

Posted: 08 Feb 2011 10:55 AM PST

Fifth Third Clears TARP Dues

Posted: 08 Feb 2011 10:50 AM PST

Fifth Third Bancorp (NASDAQ:FITB) is the latest bank to repay the bailout money. The company has fully paid its $3.4 billion in outstanding Troubled Asset Relief Program (TARP) funds.
The repayment was financed by proceeds from recent equity and debt offerings, in addition to funds from available resources. Last December, Huntington Bancshares Inc. (NASDAQ:HBAN) and First Horizon National Corp. (NYSE:FHN) also reimbursed their TARP loans.
Fifth Third repurchased all 136,320 shares of its Series F Preferred … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Inflation: Dirty I-word Rearing Its Head”

Posted: 08 Feb 2011 10:45 AM PST

02/08/11 Meridian Equity Partners’ Joseph Greco discusses inflation affecting equities, amidst China’s rate hike and the latest earnings … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Pipeline Setback For AstraZeneca

Posted: 08 Feb 2011 10:40 AM PST

AstraZeneca (NYSE:AZN) recently suffered a pipeline setback with the company announcing the discontinuation of a phase III study that was being conducted with its prostate cancer candidate, zibotentan.
The company said that it has halted ENTHUSE study 15, which was evaluating zibotentan as a monotherapy in patients suffering from non-metastatic castrate resistant prostate cancer (CRPC). The decision to halt the study was based on a review conducted by an Independent Data Monitoring Committee … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ford Recalls New Explorers

Posted: 08 Feb 2011 10:40 AM PST

Ford Motor Co. (NYSE:F) announced that it will recall more than 1,600 units of its newly launched Explorer sports utility vehicle due to a safety problem with the second row of seats. The vehicles were manufactured between July and December 2010.
Ford stated that the seats were manufactured by Lear Corp (NYSE:LEA). The seats had manual reclining mechanisms that did not meet federal safety standards. The automaker had detected the problem at its assembly plant in December and asked its dealers to stop … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up In U.S. Trade

Posted: 08 Feb 2011 10:35 AM PST

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

AUD/USD was trading at 1.0156, up 0.21% at time of writing.

The pair was likely to find support at 1.0084, Thursday's low, and resistance at 1.0200, Friday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.27% to hit 1.3440 and AUD/JPY falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 08 Feb 2011 10:00 AM PST

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

NZD/USD was trading at 0.7775, up 0.99% at time of writing.

The pair was likely to find support at 0.7668, Friday's low, and resistance at 0.7788, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.58% to hit 1.3086 and EUR/NZD falling 0.38% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Higher; Dax Up 0.54%

Posted: 08 Feb 2011 09:55 AM PST

Forex Pros – European stocks were up after the closing bell on Tuesday.

At the close of European trade, Germany's DAX rose 0.54%, London's FTSE 100 gained 0.67%, France's CAC 40 climbed 0.43% and the EURO STOXX 50 was up 0.37%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.37%; the S&P 500 index gained 0.27%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bearish Player Paws At Cubist Pharmaceuticals

Posted: 08 Feb 2011 09:52 AM PST

Bearish player paws at Cubist Pharmaceuticals
Today’s tickers: CBST, STJ, EFA & PEP
Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) – A three-legged transaction involving Cubist Pharmaceuticals stock, as well as call and put options, appears to be the work of a bearish investor positioning for shares in the name to pullback ahead of August expiration. CBST shares are currently down 1.05% to arrive at $22.15 as of 11:55am in New York. It looks like the strategist initiated a delta neutral position, … [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: 08 Feb 2011 09:00 AM PST

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

EUR/USD was trading at 1.3686, up 0.76% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3826, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.89% to hit 0.8506 and EUR/JPY rising 0.27% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Declines On China Rate Hike

Posted: 08 Feb 2011 09:00 AM PST

02/08/11 The US dollar fell against its major counterparts today as China lifted its interest rates for the third time since … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Down Vs. Most Rivals After China Rate Hike

Posted: 08 Feb 2011 08:12 AM PST

Forex Pros – The U.S. dollar was lower against most of its major counterparts on Tuesday, as risk appetite remained stable after China raised interest rates for the second time in six weeks.

During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 0.55% to hit 1.3657.

Earlier in the day, official data showed that German industrial production fell in December, for the second time in as many months, as unusually harsh winter weather hit the construction … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Trims Losses After Soft U.S. Consumer Data

Posted: 08 Feb 2011 07:57 AM PST

Forex Pros – The pound trimmed losses against the U.S. dollar on Tuesday, easing off five-day low, following a report showing that consumer confidence in the U.S. fell unexpectedly in February.

GBP/USD retreated from 1.6029, the pair's lowest since February 1 to hit 1.6091 during European late afternoon trade, shedding 0.11%.

Cable was likely to find support at 1.6036, last Friday's low and resistance at 1.6184, Monday's high.

Earlier in the day, data showed that the IBD/TIPP … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Holds Gains After China Interest Rate Increase

Posted: 08 Feb 2011 07:42 AM PST

Forex Pros – The euro held gains against the U.S. dollar on Tuesday, trading close to a two-day high after China raised interest rates for the second time in six weeks, causing a short-term spike in the dollar.

EUR/USD hit 1.3666 during European late afternoon trade, the pair's highest since Friday; the pair subsequently consolidated at 1.3641, gaining 0.44%.

The pair was likely to find support at 1.3573, the days low and resistance at 1.3824, the high of February 3.

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

U.S. IBD/TIPP Economic Optimism Index Drops Unexpectedly

Posted: 08 Feb 2011 07:08 AM PST

Forex Pros – Consumer confidence in the U.S. fell unexpectedly in February, industry data showed on Tuesday.

In a report, Investor’s Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index slipped to 50.9 in February, down from January’s reading of 51.9.

Economists had expected the index to increase to 52.8.

A reading above 50.0 indicates optimism, below 50.0 points to pessimism.

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

Real Estate Investor Conygar Extends Share Buy-back Programme

Posted: 08 Feb 2011 03:28 AM PST

Real estate investor Conygar Investment Company (LON:CIC) has increased the size of its share buy-back programme that was launched last December. As part of the move, the company is planning to acquire an additional 2m ordinary shares, taking the total maximum number of shares it wants to buy under the programme to 8m. So far, it has purchased a total of 3.645m shares. The Conygar share price has risen from 101p to 115.5p since the programme was announced. In a note to investors last week, … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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