Monday, February 14, 2011

DailyMarkets.com - Wright Introduces EVOLVE

DailyMarkets.com - Wright Introduces EVOLVE

Wright Introduces EVOLVE

Posted: 14 Feb 2011 09:55 AM PST

International orthopedic devices company Wright Medical (NASDAQ:WMGI) recently introduced its new elbow plating system designed to treat certain elbow fractures. The device dubbed EVOLVE Elbow Plating System ("EPS") is an anatomic plating system for the treatment of fractures of the distal humerus (the long bone that runs from the shoulder to the elbow) and proximal ulna (a long bone in the forearm).
Fracture in the distal humerus leads to the impairment of elbow joint function, which … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Strong Earnings Boost Strong Market

Posted: 14 Feb 2011 09:55 AM PST

The 4th quarter earnings season is almost three quarters done. We now have 372 or 74.4% of the S&P 500 reports in. However, the early reporting firms tend to be a bit bigger and more profitable than the stragglers, and those 372 firms actually represent 84.2% of the total expected net income.

That, of course, presupposes that all the remaining firms report exactly as expected, which is unlikely. But it shouldn't be too far off, as those 372 firms also represented 84.8% of all the net … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: Earnings Season Enters Final Stretch

Posted: 14 Feb 2011 09:35 AM PST

Earnings Preview 2/11/11

We are not done with the fourth quarter earnings season yet, but by the end of next week we will be close.  A total of 420 firms are due to report, including 51 S&P 500 firms. So far the earnings season seems to be going well. With almost three quarters of the S&P 500 reports in, total net income is up 27.4% over a year ago.

The firms reporting this week include several icons of U.S. business, including Apache (NYSE:APA), Analog Devices (NYSE:ADI), Campbell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Initiating Coverage On Zynex Inc. (ZYXI)

Posted: 14 Feb 2011 09:35 AM PST

Brian Marckx, CFA
INITIATING COVERAGE

Zynex Inc.’s (ZYXI) stock was seriously punished with the April 2009 restatement announcement and, despite revenue growth of almost 60% in 2009 and 30% through the first nine months of 2010, has yet to fully recover.  Until there is resolution on what we would characterize as "significant" lingering concerns (most notably the outstanding lawsuit and ongoing refund claims by Anthem), we believe Zynex's stock will continue to trade at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Preview: ValueClick

Posted: 14 Feb 2011 09:35 AM PST

ValueClick Inc. (NASDAQ:VCLK) is slated to release its fourth quarter 2010 results on February 15.
Third Quarter Highlights
ValueClick's third quarter earnings surpassed the Zacks Consensus Estimate of 14 cents per share. Earnings (including stock-based compensation but excluding amortization of intangibles) were 16 cents per share, down 46.7% year over year from 30 cents reported in the prior-year quarter.
Better-than-expected earnings in the quarter were primarily attributable to a reduction in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Telus Misses, Grows Annually

Posted: 14 Feb 2011 09:35 AM PST

Telus Corporation (NYSE:TU), the second largest Canadian telecommunications company, reported fourth quarter adjusted earnings per ADS of 66 U.S. cents (67 Canadian cents per share), falling well below the Zacks Consensus Estimate of 72 U.S. cents. Adjusted earnings shot up 40% year over year attributable to strong data and wireless revenue combined with healthy Optik TV and Optik high-speed Internet services.
Adjusted earnings exclude favorable income tax-related adjustments of $10 million (or 3 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Initiating Coverage On Zynex Inc. (ZYXI)

Posted: 14 Feb 2011 09:10 AM PST

Brian Marckx, CFA
INITIATING COVERAGE

Zynex Inc.’s (ZYXI) stock was seriously punished with the April 2009 restatement announcement and, despite revenue growth of almost 60% in 2009 and 30% through the first nine months of 2010, has yet to fully recover.  Until there is resolution on what we would characterize as "significant" lingering concerns (most notably the outstanding lawsuit and ongoing refund claims by Anthem), we believe Zynex's stock will continue to trade at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chevron Boosts Gorgon Potential

Posted: 14 Feb 2011 09:05 AM PST

U.S. energy behemoth Chevron Corp. (CVX) announced the discovery of a new offshore natural gas site (Orthrus-2) in Western Australia's Carnarvon Basin. The discovery – the tenth by Chevron off the Australian coast during the last 18 months – builds on the integrated oil and gas giant's leading position in this hydrocarbon-rich area.
Drilled to a total depth of 14,098 feet (4,297 meters), the Orthrus-2 well encountered 243 feet (74 meters) of net gas pay. The find is situated in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Initiating Coverage On Zynex Inc. (ZYXI)

Posted: 14 Feb 2011 09:05 AM PST

Brian Marckx, CFA
INITIATING COVERAGE

Zynex Inc.’s (ZYXI) stock was seriously punished with the April 2009 restatement announcement and, despite revenue growth of almost 60% in 2009 and 30% through the first nine months of 2010, has yet to fully recover.  Until there is resolution on what we would characterize as "significant" lingering concerns (most notably the outstanding lawsuit and ongoing refund claims by Anthem), we believe Zynex's stock will continue to trade at a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Drilling Dips 1st Time In 2011

Posted: 14 Feb 2011 09:05 AM PST

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting a decrease in the number of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Pride International (PDE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN) … [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: 14 Feb 2011 09:00 AM PST

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

EUR/USD was trading at 1.3474, down 0.56% at time of writing.

The pair was likely to find support at 1.3429, today's low, and resistance at 1.3744, Wednesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.64% to hit 0.8410 and EUR/JPY falling 0.68% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD Focus To Be On Budget And Data On Sales, Inflation, Manufacturing

Posted: 14 Feb 2011 08:51 AM PST

The main news coming out of the weekend was the proposed budget by the Obama administration.
The 2011 budget deficit would be a record $1.645 trillion (thanks to the tax compromise passed late last year) though the administration laid out cuts of $1.1 trillion from the deficit over the next 10 years.

From Bloomberg: Obama's $3.7 Trillion Budget Sets Fight in Congress
President Barack Obama will send Congress a $3.7 trillion budget that would reduce deficits by $1.1 trillion over a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SCANA Lucky By A Penny

Posted: 14 Feb 2011 08:35 AM PST

SCANA Corporation (NYSE:SCG) reported fourth-quarter 2010 earnings of 74 cents per share, just beating the Zacks Consensus Estimate of 73 cents and well above the year-ago earnings of 62 cents.
Better-than-expected results were mainly attributable to improved electric margins that the hike in the electric base rate under the Base Load Review Act (BLRA) and the retail electric rate case led to. The improvement was, however, dampened, by higher operations and maintenance expenses, higher … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crowdgather Appeals To All Business Sizes

Posted: 14 Feb 2011 08:25 AM PST

Ken Nagy, CFA
Crowdgather Appeals to all Business Sizes

CrowdGather, Inc. (CRWG) is an Internet company that specializes in the development and hosting of forum based Web sites.  The firm endeavors to monetize a network of online forums and message boards. Forums remain a much undervalued part of the internet pie with $4.8 billion and CowdGather is the only public company dedicated to monetizing this area.
CPM is an internet advertising term that stands for cost per thousand ad views. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Leggett & Platt In Neutral Lane

Posted: 14 Feb 2011 08:25 AM PST

We reiterate our long-term ‘Neutral’ recommendation on Leggett & Platt Inc. (NYSE:LEG). Leggett and Platt is a leading manufacturer of components of residential and office furniture, carpet underlay, drawn steel wire and automotive seat support and lumbar systems in North America. Moreover, the company has a well-diversified customer base and solid research and development (R&D) capabilities. This offers a competitive edge to the company and strengthens its pricing power in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: Becton

Posted: 14 Feb 2011 08:11 AM PST

Becton, Dickinson and Company (NYSE:BDX) recently announced first-quarter fiscal 2011 (ended December 31) results. Adjusted (excluding one-time items) earnings per share of $1.35 beat the Zacks Consensus Estimate of $1.29 and surpassed the year-ago figure of $1.30. Net income from continuing operations (on a reported basis) for the quarter increased 3.3% to roughly $314 million (or $1.35 a share).
The Results in Brief
Becton Dickinson recorded revenues of $1.84 billion for the reported quarter, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Risk Aversion Rises, Dollar Rebounds

Posted: 14 Feb 2011 08:11 AM PST

02/14/11 The US dollar posted quite the rebound today on growing speculation eurozone finance ministers will fail to reach an agreement on how to expand its bailout … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Anadarko’s Oil Rush In Ghana

Posted: 14 Feb 2011 08:10 AM PST

Oil and gas exploration company Anadarko Petroleum Corporation (NYSE:APC) said that it has discovered new oil, condensate and natural gas pay at an exploration well offshore Ghana.
Located in the West Cape Three Points Block, offshore Ghana, the Teak-1 discovery well was drilled to a total depth of about 10,400 feet in water depths of about 2,850 feet. The Teak-1 discovery is located more than two miles in the northeast of the Mahogany-2 well.
Anadarko said that the Teak-1 well encountered roughly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Regulator Clears Dynegy Sale

Posted: 14 Feb 2011 08:10 AM PST

Dynegy Inc. (NYSE:DYN) has received regulatory approval from the Federal Energy Regulatory Commission (FERC), for its proposed acquisition by an affiliate of Icahn Enterprises L.P. (NYSE:IEP). Per the transaction, Icahn Enterprises will acquire Dynegy for $5.50 per share in cash, or approximately $665 million.
Under the terms of the agreement, Dynegy stockholders will receive $5.50 in cash for each outstanding share of Dynegy common stock they own. Icahn Enterprises, the largest stakeholder in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gilead Refiles For HIV Combo Pill

Posted: 14 Feb 2011 08:10 AM PST

Gilead Sciences Inc. (NASDAQ:GILD) recently refiled a New Drug Application (NDA) with the US Food and Drug Administration (FDA) for the single-tablet combination of Truvada and TMC-278 (rilpivirine). The company is seeking to get the combination drug approved as a treatment of adult HIV patients.
Gilead’s Truvada is a fixed-dose combination of Viread and Emtriva, marketed as a treatment for HIV, while Johnson & Johnson’s (NYSE:JNJ) TMC-278 is a non-nucleoside reverse transcriptase inhibitor. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mack-Cali Reports In Line

Posted: 14 Feb 2011 08:10 AM PST

Mack-Cali Realty Corp. (NYSE:CLI), a real estate investment trust (REIT), reported fourth quarter 2010 FFO (fund from operations) of $54.7 million or 59 cents per share, compared with $55.3 million or 60 cents in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding non-recurring items, FFO for the reported quarter was 69 cents per share … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Wanders Toward Trendline Support At 83.21 Area In Quiet Trading

Posted: 14 Feb 2011 08:03 AM PST

The USDJPY is wandering lower in quiet NY trading. The trendline support comes in at the 83.21 level.  A move below that line comes in at 82.93.   The 100 hour MA comes in at the 82.87 (blue line in the chart above). 
The pair has been moving higher of late.  Last week, the price moved above they key 100 day MA (blue line in the chart below) and moved to trendline and 2011 high resistance against the 83.55 and 83.67 levels respectively (see daily … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Falls To 10-week Low

Posted: 14 Feb 2011 02:55 AM PST

02/14/11 Following the resignation of Hosni Mubarak in Egypt, front month crude prices reversed recent gains as geopolitical tensions … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Mixed Vs. Rivals As Obama Outlines 2012 Budget

Posted: 14 Feb 2011 07:54 AM PST

Forex Pros – The U.S. dollar was mixed against its major counterparts on Monday, after U.S. President Barack Obama said his 2012 budget was a “down payment” on what was needed to get the U.S. on a strong fiscal path.

During European late afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.64% to hit 1.3462.

Earlier in the day, media outlets reported that ailing German lender WestLB could be preparing to outline a government-supported restructuring plan before the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

WSJ Forecasting Survey: 2.1% Inflation In 2011

Posted: 14 Feb 2011 07:52 AM PST

The WSJ Economic Forecasting Survey was released today, and based on the consensus average of more than 50 economists and forecasters, CPI inflation in December 2011 will be 2.1%, real GDP growth will be 3.5% in 2011, and the unemployment rate in December will be 8.6%. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Megaworld Corporation (MEG) Poised For Another 10% Drop

Posted: 14 Feb 2011 07:43 AM PST

2010 was a marquee year for Andrew Tan's flagship company Megaworld Corporation or MEG in the Philippine Stock Exchange as it was able to book a 69.86%. However, MEG's outlook had started to look a bit bleak around December as it started to form a head and shoulders pattern which technical analysts consider as a bearish pattern. In my presentation in Absolute Traders' year-end chart analysis forum last December, I noted that people should start to avoid MEG at that mean time given its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Remains Under Pressure As Euro Debt Woes Weigh

Posted: 14 Feb 2011 07:41 AM PST

Forex Pros – The pound edged lower against the U.S. dollar on Monday, amid an absence of economic data ahead of the release of January inflation figures for the U.K. on Tuesday and as broad euro weakness hit sentiment.

GBP/USD hit 1.5981 during European late afternoon trade, the daily low; the pair subsequently consolidated at 1.5993, dipping 0.07%.

Cable was likely to find support at 1.5962, Friday's low and a two-week low and resistance at 1.6112, Friday's high.

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

Opening Bell Market Monitor: SATS, HUGH, GE

Posted: 14 Feb 2011 02:33 AM PST

02/14/11 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

Bear Season In The S&P 500 & Oil

Posted: 14 Feb 2011 07:32 AM PST

Mr. Market has had an appetite for S&P 500 bears for several months now. In each instance in which the bears think they are going to get away, Mr. Market draws up his high powered rifle and drops the bears just before they can comfortably return to their caves. Just when the bears think they have escaped and are home free, Mr. Market reminds them who is in charge.
However, Mr. Market's appetite for oil bears has diminished tremendously over the past week as the U.S. Dollar and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Quiet Start For Bonds Sees Rising Yields

Posted: 14 Feb 2011 07:32 AM PST

Global bonds are a little weaker in early trading despite signs of a lackluster start for North American equity trading. Bonds rose earlier as the single European currency fell sharply over signs that at the start of a two-day meeting among the region’s finance ministers, divisions remain deeper-seated than many onlookers had convinced themselves.
Eurodollar futures – Eurodollar futures have subsequently come off a stronger start that saw implied yields ease by a couple of basis points along … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eurozone Risks Rise Back To The Top Of The Agenda

Posted: 14 Feb 2011 07:29 AM PST

A resurgence of pessimism over prospects for debt-reduction agreements has sent the euro to its weakest in three weeks and ahead of two-day talks between Eurozone finance officials. The euro is sharply lower following the weekend sparked by a whole new wave of discontent from several members who see things differently from their partners. The reaction has reversed risk sentiment sharply in the opposite direction causing several currencies to quickly retrace their tracks.
U.S. Dollar – Dealers … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Trims Losses Ahead Of EU Fin Min Meeting

Posted: 14 Feb 2011 07:26 AM PST

Forex Pros – The euro trimmed losses against the U.S. dollar on Monday, but remained under pressure ahead of a meeting of European finance ministers to discuss strengthening the euro zones EUR440 billion rescue fund.

EUR/USD clawed back up from1.3429, the pair's lowest since January 20, to hit 1.3484 during European late afternoon trade, shedding 0.46%.

The pair was likely to find support at 1.3367, the low of January 19 and resistance at 1.3558, the day's high.

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

John Wood Group Agrees Sale Of Well Support Division To GE

Posted: 14 Feb 2011 01:43 AM PST

Energy services company John Wood Group (LON:WG.) has agreed a deal to sell its Well Support division to GE for $2.8 billion in cash. The John Wood Group share price rose by 13.5% to 649.5p on the news, as investors warmed to the detail of the deal, which will see at least $1.7 billion returned to shareholders. Wood Group said the selling price recognised the strong performance and future prospects of the Well Support division and its success in building the division's differentiation and … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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