Wednesday, March 23, 2011

DailyMarkets.com - The Greatest Complacency Of The 21st Century

DailyMarkets.com - The Greatest Complacency Of The 21st Century


The Greatest Complacency Of The 21st Century

Posted: 23 Mar 2011 07:55 AM PDT

Many of our readers know intuitively that their neighbors and friends have become complacent about the world around them, but they don't know how to prove it.

Today, I'll show you two ways to do just that.

The key is that rising equity prices usually lead to an increase in stock market optimism, while falling prices generate stock market pessimism.

That alone is no justification for bearish or bullish strategies — until it reaches an extreme.

So the questions are: How do … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Adobe Beats By A Penny

Posted: 23 Mar 2011 07:35 AM PDT

Adobe Systems Inc. (NASDAQ:ADBE) reported earnings for the first quarter ended February 2011 that was just slightly ahead of the Zacks Consensus estimate. Management stated that the situation in Japan put $50 million of revenue at risk, primarily in the CS and Acrobat product lines.
Revenues from other parts of the world are not likely to be impacted. Detailed commentary on the situation in Japan was not available, primarily because the exact impact is still hard to determine. This could be the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Japan Quake Affects DE, CAT Unhurt

Posted: 23 Mar 2011 07:35 AM PDT

Deere & Company (NYSE:DE) cautions that due to the earthquake and tsunami in Japan last week and its terrible aftermath, the delivery of excavators sold under the Deere and Hitachi brand names and Hitachi-branded mining equipment might be delayed.
Deere is trying to gauge the impact on its Japanese supply base. Though some suppliers are recovering from the disruption, the company is finding it difficult to estimate the full effects on the supply chain given the present scenario in Japan. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pepco Unit In Energy-Saving Service

Posted: 23 Mar 2011 07:35 AM PDT

Pepco Holdings Inc. (NYSE:POM) announced that its unit Pepco Energy has been selected to carry out a complete survey of the Governor’s Mansion in Atlanta, Georgia, to ensure the conservation as well as proper utilization of energy.
As per the contract, Pepco Energy will take necessary steps to find out the baseline energy costs and check the lighting, water and energy management controls systems of these buildings. Apart from checking and giving suggestion on best usage of the existing system to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Dollar General Beats On Bottom Line

Posted: 23 Mar 2011 07:35 AM PDT

Dollar General Corporation (DG) posted strong fiscal 2010 fourth-quarter adjusted earnings of 65 cents a share, up 27.5% from the year-ago earnings of 51 cents a share and ahead of the Zacks Consensus Estimate of 59 cents a share. Earnings including special items came in at 64 cents a share in the reported quarter.
For fiscal 2010, adjusted earnings came in at $1.88 per share compared with $1.31 per share in fiscal 2009. Adjusted earnings comfortably beat the Zacks Consensus Estimate of $1.82 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. New Home Sales Tumble To Record Low In February

Posted: 23 Mar 2011 07:04 AM PDT

Forex Pros – U.S. new home sales dropped more-than-expected in February, tumbling to a record low, official data showed on Wednesday.

In a report, the U.S. Census Bureau said new home sales plunged by 16.9% to a seasonally adjusted 250,000 units in February, down from 301,000 units in January, whose figure was revised up from 284,000 units.

Analysts had expected the number of new home sales to fall to 288,000 units in February.

The previous record low was recorded in August of 2010, when … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hawaiian Elec. In Solar Power Pact

Posted: 23 Mar 2011 06:55 AM PDT

Hawaiian Electric Industries Inc. (NYSE:HE) has entered into an agreement with SunPower Corporation (SPWRA) to purchase solar photovoltaic (PV) power. Under the fixed price contract of 20 years, SunPower will generate the power from a five-megawatt (MW) solar farm.
SunPower will design, build and operate the farm at Kalaeloa in West Oahu on a 40-acre land leased from the Department of Hawaiian Home Lands (DHHL) at Roosevelt Avenue and Boxer Road. Following a nod from the Hawaii Public Utilities … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Higher Vs. Most Rivals As Portugal Woes Hit Euro

Posted: 23 Mar 2011 06:53 AM PDT

Forex Pros – The U.S. dollar was broadly higher against its major rivals on Wednesday, as political uncertainty in Portugal hit sentiment towards the euro and after the minutes of the last Bank of England’s policy meeting dampened expectations for a rate hike.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.57% to hit 1.4116.

The fate of Portugal's government was hanging in the balance on Wednesday, after the Prime Minister threatened to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


NVS’ Lucentis Gets EU Backing

Posted: 23 Mar 2011 06:36 AM PDT

Novartis AG (NYSE:NVS) recently announced that it has received positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for approving eye drug Lucentis for the treatment of visual impairment due to macular edema secondary to retinal vein occlusion (RVO) in Europe.
The recommendation was based on data from the CRUISE and BRAVO phase III trials, which showed that Lucentis was more effective than current standard of care at 6 and 12 months of treatment. Lucentis improved vision … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: AMERIGROUP, Alexander & Baldwin, Actuant, B&G Foods Holdings Corp., Citigroup, Celanese, Expeditors International Of Washington, Goldman Sachs Group, Hormel Foods, J P Morgan Chase & Co, Morgan Stanley, Research In Motion Limited, Towerstream, Wells Fargo & Company

Posted: 23 Mar 2011 06:36 AM PDT

 Research In Motion (NASDAQ:RIMM) announced the launch of its highly anticipated BlackBerry PlayBook tablet, which will be available at more than 20,000 stores in the U.S. and Canada at a base price of $499

 Goldman Sachs (NYSE:GS) analysts downgraded shares of AMERIGROUP Corp. (NYSE:AGP) to "Sell" from  "Neutral" rating

 Wells Fargo & Co. (NYSE:WFC) analysts downgraded shares of Alexander & Baldwin, Inc. (NASDAQ:ALEX) to "Underperform" from  "Market Perform" … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Three Reasons Why Stocks Will Continue To Rise In The Immediate Term

Posted: 23 Mar 2011 06:21 AM PDT

While macro economic analysis issues such as reduced interest rates and a declining U.S. dollar have positive effects on the stock market, there is a direct correlation in the stock market to its trading direction and the value of the stocks that trade in the market.

Here are three reasons why stocks will continue to advance in the immediate term.

1.   Profit margins of the S&P 500 non-financial companies are expected to rise 8.9% in 2011, their highest level in 18 years … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Swiss Franc: Under Pressure

Posted: 23 Mar 2011 06:18 AM PDT

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


Japanese Yen: Under Pressure

Posted: 23 Mar 2011 06:18 AM PDT

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


British Pound: Under Pressure

Posted: 23 Mar 2011 06:18 AM PDT

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


Euro: Capped By A Negative Trend Line

Posted: 23 Mar 2011 06:18 AM PDT

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


GBP/USD Slides To Test Key Pivot At 1.6170; 1.60 Is Next

Posted: 23 Mar 2011 06:16 AM PDT

GBP/USD Should be in a Wave 3 to 1.6450, 1.65 (3/22)
GBP/USD Slides after BOE Minutes Fail to Satisfy GBP Bulls (3/23 News)
GBP/USD

Short-term
- The GBP/USD indeed completed what was wave 3, and should be on wave 4 now. Corrective waves are anticipated as 3-wave patterns, but the current decline with such a strong decline right now, could be still part of the first corrective wave, after which we can expect an upswing and another corrective wave down.
- It is still a little early to say. This … [visit site to read more] or compare Best Credit Cards and Best CD Rates


NY Times To Limit Access

Posted: 23 Mar 2011 06:10 AM PDT

The New York Times Company (NYSE:NYT) will restrict the number of articles that can be accessed through search engines following the implementation of online subscription, slated for a global launch on March 28, 2011, Associated Press reported. This would make it hard for Internet users to avoid the payment gateway each time they visit the newspaper's website through various search routes.
Earlier, the media conglomerate had hinted that online traffic via Google Inc. (NASDAQ:GOOG) will be able to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Tiffany Downgraded

Posted: 23 Mar 2011 06:06 AM PDT

We recently downgraded our long-term recommendation on Tiffany & Company (NYSE:TIF), a high-end jewelry designer, manufacturer and retailer, to "Neutral" with a price target of $63.00. Earlier we had an "Outperform" recommendation on the stock. Tiffany also holds a Zacks #3 Rank, which translates into a short-term 'Hold' rating, and correlates with our long-term recommendation.
We remain concerned about Tiffany's operations in Japan, which were recently hit by the earthquake and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stock Futures Point To Lower Open; Dow Futures Shed 0.1%

Posted: 23 Mar 2011 06:04 AM PDT

Forex Pros – U.S. stock futures pointed to lower open on Wednesday, as renewed concerns over the euro zone's sovereign debt crisis weighed and as investors awaited a government report on U.S. new home sales.

Dow Jones Industrial Average futures pointed a drop of 0.1%, the S&P 500 futures indicated a loss of 0.2%, while Nasdaq 100 futures slumped 0.35%.

Portugal's parliament was to vote on a fresh round of austerity measures later in the day. On Tuesday, Prime Minister Jose Socrates … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Before The Bell

Posted: 23 Mar 2011 06:00 AM PDT

03/23/11 The latest in news, commentary, and information on what’s moving the US equities markets prior to the NYSE opening … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Tumbles To 2-day Low As U.K. Budget In Focus

Posted: 23 Mar 2011 05:52 AM PDT

Forex Pros – The pound extended losses against the U.S. dollar on Wednesday, falling to a two-day low as U.K. Chancellor George Osborne began to outline Britain’s budget for 2011.

GBP/USD hit 1.6232 during European afternoon trade, the pair's lowest since Monday; the pair subsequently consolidated at 1.6234, tumbling 0.78%.

Cable was likely to find support at 1.6059, the low of March 18 and resistance at 1.6400, Tuesday's high and a 14-month high.

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


Portugal Vote, Blow-out In Irish Yields, And Differences On ESM Weigh On Euro

Posted: 23 Mar 2011 05:50 AM PDT

The EUR/USD, after reaching near 5-month highs yesterday near 1.4250, turned around amid concerns that re-capitalizing Ireland's banking system will cost more than expected. Irish yields soared, and they continued to be elevated in today's trading.

Today's action in Irish 2-year bonds saw the yield jump from 9.93 at the open to as high as 10.65, a euro-area record, and a worrisome sign for the country's fiscal situation. On top of this blowout in Irish bonds, we have other … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EUR/USD Forms Head And Shoulder With 1.4140 Neckline

Posted: 23 Mar 2011 05:41 AM PDT

EUR/USD at 161.8% Projection with Bearish Divergence (3/22)
EUR/USD

Short-term
- Following up with yesterday's updates, the EUR/USD indeed is declining further after the bearish divergence.The market has reached the important 1.4140-1.4150 support.
- The market developed a head and shoulder and the 1.4140 level is the neckline.
- If we break it we might extend the current towards 1.4050-1.4060 level.
- The 4H chart also shows the head and shoulder and the 50% retracement target in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: GBPUSD Moves Toward 100 Hour MA Test At 1.6247

Posted: 23 Mar 2011 05:36 AM PDT

The GBPUSD is moving closer to the next key target area for the pair. The 100 hour MA comes in at 1.6247 while trendline support (and remembered line support) comes in at 1.6234 area. These levels should solicit some profit taking buying after the sharp fall today on the back of less hawkish comments from Monetary Policy Committee minutes from the Bank of England. The market had priced in the potential for a change in vote to 5 for keeping rate unchanged and 4 voting to raise … [visit site to read more] or compare Best Credit Cards and Best CD Rates


BNY Mellon Boosts Shareholder Value

Posted: 23 Mar 2011 05:36 AM PDT

Following the Federal Reserve's approval of its comprehensive capital plan (CCP), Bank of New York Mellon Corporation (NYSE:BK) joined the other U.S. banks in announcing quarterly dividend increase and share repurchase.
BNY Mellon declared a quarterly cash dividend of 13 cents per share, payable on May 10, 2011 to shareholders of record at the close of business on April 29, 2011. Hence, the annual dividend payable to shareholders now stands at 52 cents per share, a jump of 44% from the prior … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Japan Quakes, Delta Shivers

Posted: 23 Mar 2011 05:30 AM PDT

Delta Air Lines Inc. (NYSE:DAL), the second largest U.S. airline, expects its first quarter 2011 revenue to be adversely affected by the drop in air traffic resulting from the March 11 catastrophe in Japan.
Delta Air Lines has the largest presence in Japan relative to other U.S. carriers, generating almost $2 billion in revenue every year from planes flying the Tokyo hub. The massive earthquake and radiation leaks from a nuclear power plant, which took a toll on Japan's economy, also affected … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Hits 3-day Low As EU Debt Resolution Prolonged

Posted: 23 Mar 2011 05:13 AM PDT

Forex Pros – The euro extended losses against the U.S. dollar on Wednesday, following reports that European Union leaders will take a decision on enlarging the regions bailout fund at the end of June and not at a summit this week.

EUR/USD hit 1.4140 during European early afternoon trade, the pair's lowest since Friday; the pair subsequently consolidated at 1.4152, shedding 0.31%.

The pair was likely to find support at 1.3979, last Friday's low and resistance at 1.4247, Tuesday's high … [visit site to read more] or compare Best Credit Cards and Best CD Rates


JPMorgan Pauses Debit Card Rewards

Posted: 23 Mar 2011 05:07 AM PDT

On Monday, Bloomberg reported that JPMorgan Chase & Co. (NYSE:JPM) had started notifying its debit card users that they would not be able to garner rewards point after July 19. It is an attempt on the company's part to reduce its losses from the projected cap on debit-interchange fees, as proposed by the Durbin Amendment.
For every swipe of a debit card, the related bank charges a fee to the retailer. The bank then shares the amount with its card partners such as Visa Inc. (NYSE:V) and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pound Slides After BOE Minutes Fail To Satisfy GBP Bulls

Posted: 23 Mar 2011 04:53 AM PDT

After rallying quite strongly yesterday on the back of a jump in inflation, today saw the Pound decline against it major rivals following the release of Bank of England Meeting Minutes from their interest rate decision held on March 10th.
The key sentence to hang our hat on was that the BoE saw "merit in waiting" to see how recent effects like higher oil prices will pass through the economy and affect inflation forecasts.

From BOE Minutes: "Overall, the uncertainty created by both … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Good News For ViroPharma Drug

Posted: 23 Mar 2011 04:39 AM PDT

ViroPharma Inc. (NASDAQ:VPHM) recently announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended the approval of Cinryze. The company is seeking approval to market the drug as a treatment for hereditary angioedema (HAE) in adolescents and adults.
The panel recommended European approval of the drug for pre-procedure prevention of angioedema attacks in patients suffering from HAE. Moreover, approval is also recommended for the routine … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Good News For ViroPharma Drug

Posted: 23 Mar 2011 04:38 AM PDT

ViroPharma Inc. (NASDAQ:VPHM) recently announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended the approval of Cinryze. The company is seeking approval to market the drug as a treatment for hereditary angioedema (HAE) in adolescents and adults.
The panel recommended European approval of the drug for pre-procedure prevention of angioedema attacks in patients suffering from HAE. Moreover, approval is also recommended for the routine … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pipeline Progress At Roche

Posted: 23 Mar 2011 04:38 AM PDT

Zacks has removed this article. Thank you
 
CURIS INC (CRIS): Free Stock Analysis … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pipeline Progress At Roche

Posted: 23 Mar 2011 04:38 AM PDT

Roche Holdings Ltd. (RHHBY) recently reported positive mid-stage trial results on vismodegib. The candidate is being evaluated for the treatment of advanced basal cell carcinoma (aBCC). The phase II trial (ERIVANCE BCC), which involved patients whose lesions are not appropriate for surgery, or for whom surgery would result in substantial deformity, met the primary endpoint of tumor shrinkage.
Roche added that the adverse events observed in the trial were consistent with previous trials. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Pipeline Progress At Roche

Posted: 23 Mar 2011 04:38 AM PDT

Roche Holdings Ltd. (RHHBY) recently reported positive mid-stage trial results on vismodegib. The candidate is being evaluated for the treatment of advanced basal cell carcinoma (aBCC). The phase II trial (ERIVANCE BCC), which involved patients whose lesions are not appropriate for surgery, or for whom surgery would result in substantial deformity, met the primary endpoint of tumor shrinkage.
Roche added that the adverse events observed in the trial were consistent with previous trials. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Looks To Test Key Support In Early NY Trade

Posted: 23 Mar 2011 04:35 AM PDT

The EURUSD has fallen sharply in early NY trade and is looking to test 100 hour MA, the 38.2% of the move up from the March 16th low, and finally the lows from Monday's trade, all are coming in around the 1.4145 level. The level should find profit taking buyers on the first look. A move below should solicit additional selling … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Hits 3-day Low As Uncertainty Spurs Safe Haven Demand

Posted: 23 Mar 2011 04:19 AM PDT

Forex Pros – The U.S. dollar slipped to a three-day low against the Swiss franc on Wednesday, as concerns over radioactive contamination in Japan and escalating unrest in the Middle East spurred increased demand for safe haven assets.

USD/CHF hit 08980 during European late morning trade, the pair's lowest since Friday; the pair subsequently consolidated at 0.9009, shedding 0.25%.

The pair was likely to find support at 0.8895, the low of March 16 and the pair's all-time low and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


AdvisorShares Details Meidell Tactical Advantage ETF (MATH)

Posted: 23 Mar 2011 04:00 AM PDT

On March 15th, AdvisorShares made a filing with the SEC which provided specifics and expense details on the proposed Meidell Tactical Advantage ETF (MATH). MATH will be a fund-of-funds that will look to achieve long-term capital appreciation by investing in other ETFs that provide exposure to various regions, countries, styles and sectors.
The fund will be sub-advised by American Wealth Management which will manage the fund using a quantitative tactical strategy involving dynamically … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Euro Extends Gains Against Pound After BoE Minutes

Posted: 23 Mar 2011 03:16 AM PDT

Forex Pros – The euro extended early gains against the pound on Wednesday, after the minutes of the Bank of England's most recent policy setting meeting showed the bank saw "merit in waiting" to examine the effect of higher oil prices, easing speculation over a rate hike.

EUR/GBP hit 0.8711 during European morning trade, the daily high; the pair subsequently consolidated at 0.8709, gaining 0.38%.

The pair was likely to find support at 0.8624, the low of March 15 and resistance at … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Central Bank Of Kenya Lifts Rate 25bps To 6.00%

Posted: 23 Mar 2011 01:20 AM PDT

The Central Bank of Kenya increased the its lending rate by 25 basis points to 6.00% from 5.75% previously. The Bank noted that “this tightening will provide a solution to inflationary pressure and will stabilize the exchange rate while still protecting economic activity,”. Kenya reported inflation of 6.5% in February, driven up by the surge in global energy and food commodity prices, with second round inflation effects starting to emerge. The Kenyan economy grew 5.4% in 2010, up from 2.6% in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Wessex Exploration Kicks Off Trading On AIM

Posted: 23 Mar 2011 12:49 AM PDT

Wessex Exploration, the oil and gas group chaired by ex Nighthawk Energy (LON:HAWK) boss David Bramhill, began trading on the Alternative Investment Market this morning. The company has moved its trading venue from PLUS Markets where last week it raised £3 million in a placing of 100m shares.

Wessex is a hydrocarbon exploration company with its principal projects in offshore Guyane (formerly French Guiana) and Southern England. Although at an early stage in development the management team … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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