DailyMarkets.com - Medtronic Over With Warning Letters |
- Medtronic Over With Warning Letters
- Patterson-UTI Rig Count Improves
- Hotel Deals Maximum EMEA
- TMM Exits 2010 On Strength
- Invesco’s February AUM Improves
- NetApp To Take Over LSI Unit
- H&R Block Beats On Bottom Line
- Initial Jobless Claims Rise
- National Bank Of Serbia Lifts Rate 25bps To 12.25%
- Forex – EUR/USD Down At The End Of European Session
- Bank Of England Holds Bank Rate At 0.50%
- Dollar Strengthens On Eurozone Debt Uncertainty
- AFC Reports In Line
- PPL Corp. Hives Non-core Assets
- Osiris Profits Rise On Lower Costs
- American Eagle Beats On Cost Cuts
- HWAY Reports Ennui At Workplace
- Australian Dollar: The Downside Prevails
- Airlines Soar Despite High Fares
- Canadian Dollar: The Downside Prevails
- The SP500 Dow Jones And The Critical 50 Day EMA
- Forex Trading: GBPUSD Tests 50% Of The Move Up From Jan 25th Low
- Forex – Dollar Up Across The Board Amid Rising Risk Aversion
- Crude Slide On EU Debt Concerns, Dollar Strength
- Word From The Floor: Stocks Slump, Coffee Brewers Reach Single-cup Distribution Deal
- Export Data Spurs Fears Over Global Cooling – Bonds Up
- Forex – GBP/USD Tumbles To 9-day Low After Weak U.S. Trade, Jobs Data
- Total U.S. Trade Reaches 2-1/2 Yr. High In January
- Forex – EUR/USD Extends Losses Amid Risk Aversion
- GBP Weakens As BOE Holds Rates Steady At 0.5%, Stocks Down, Incident At Airport Injects Risk Aversion
- GBP/JPY Might Be Forming A Head And Shoulder
- Forex Trading: USDCAD Surges Higher. Approaches Resistance After Sharp Move
- Morning News Notes: 3.10.11
| Medtronic Over With Warning Letters Posted: 10 Mar 2011 09:55 AM PST The long awaited issue of Medtronic's (NYSE:MDT) warning letters from the US Food and Drug Administration (FDA) has finally been resolved. The letters were issued in relation to its Mounds View facility (received in November 2009) and manufacturing facility in Juncos, Puerto Rico (June 2009).
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| Patterson-UTI Rig Count Improves Posted: 10 Mar 2011 09:55 AM PST Onshore contract driller Patterson-UTI Energy Inc. (PTEN) declared that its February 2011 drill rig count averaged 209, up from 204 in the previous month. The company operated 192 rigs in the U.S. and 17 in Canada in February, compared with 188 rigs in the U.S. and 16 rigs in Canada during January this year.
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| Posted: 10 Mar 2011 09:35 AM PST In its latest report on the global lodging industry, Jones Lang LaSalle Incorporated (NYSE:JLL), a leading real estate investment trust (REIT), has anticipated hotel sales and acquisitions to increase in the range of 15% to 20% year-over-year to about $30 billion in 2011. Jones Lang further anticipates that transaction volume would increase the most in the EMEA (Europe, Middle Eastand Africa) region to the tune of as much as 25% in the current fiscal.
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| Posted: 10 Mar 2011 09:35 AM PST Ken Nagy, CFA Grupo TMM (TMM) is one of the largest integrated logistics and transportation companies in Mexico. The firm, through its subsidiaries provides maritime services, land transportation services, integrated logistics services, and ports and terminals management to international and domestic clients throughout Mexico. As part of its 5-year growth strategy, the firm is committed to modernizing its fleet and increasing its penetration in Mexican Ports, … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Invesco’s February AUM Improves Posted: 10 Mar 2011 09:05 AM PST Invesco Ltd. (NYSE:IVZ) reported preliminary assets under management (AUM) of $641.1 billion at the end of February 2011, up 2.9% from $623.1 billion at the end of January 2011. The increase in AUM was primarily driven by positive returns from financial markets, strengthening of foreign currencies against the U.S. dollar (resulting in an AUM spike of $2.3 billion) and net inflows into institutional money market funds.
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| Posted: 10 Mar 2011 09:05 AM PST NetApp Inc. (NASDAQ:NTAP) has sealed a definitive agreement with LSI Corporation (NYSE:LSI) to acquire its external storage systems business. This all-cash deal worth $480.0 million is expected to be wrapped up within two months, subject to regulatory approvals.
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| H&R Block Beats On Bottom Line Posted: 10 Mar 2011 09:05 AM PST H&R Block's (NYSE:HRB) fiscal third-quarter 2011 adjusted income came in at 14 cents per share, a stark improvement from the Zacks Consensus Estimate of a loss of 1 cent. Result, however compares unfavorably with 16 cents per share earned in the year-ago period. Adjusted income for the quarter was $44 million, down 18% from $54 million reported in third-quarter 2010.
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| Posted: 10 Mar 2011 09:05 AM PST Initial Claims for Unemployment Insurance rose by 26,000 last week to 397,000 (last week was revised up by 3,000, so one could see it as a 29,000 increase). This was a bit worse than the expected level of 382,000. While the reversal after several weeks of sharp declines is not welcome, neither is it the end of the world. The weekly numbers, after an erratic few months, seem to have broken decisively to the downside. First the holidays and then the bad weather seemed to have played havoc with … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| National Bank Of Serbia Lifts Rate 25bps To 12.25% Posted: 10 Mar 2011 09:05 AM PST The National Bank of Serbia increased its key monetary policy rate 25 basis points to 12.25% from 12.00% previously due to rising inflation pressures. The move follows up a previous 50 basis point hike this year. Serbia reported inflation of 11.2% in January this year, up from 10.3% in December; this compares to the Bank’s inflation target of 4.5% +/- 1.5% for 2011, and 4.0% +/- 1.5% for 2012. Serbia has seen rising inflation due to rising agricultural prices both domestically and … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – EUR/USD Down At The End Of European Session Posted: 10 Mar 2011 09:00 AM PST Forex Pros – The Euro was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims. EUR/USD was trading at 1.3823, down 0.61% at time of writing. The pair was likely to find support at 1.3792, today's low, and resistance at 1.4036, Monday's high. Earlier in the day, official data showed that U.S. Initial Jobless Claims rose more-than-expected to a seasonally adjusted 397.00K last week from 371.00K in the preceding week whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Bank Of England Holds Bank Rate At 0.50% Posted: 10 Mar 2011 08:53 AM PST The Bank of England held its bank rate unchanged at 0.50% and made no changes to the GBP 200 billion quantitative easing asset purchase programme. The United Kingdom reported inflation of 4.0% in January this year, which is above the Bank’s official inflation target of 2.0%. The Bank determined that the balance of risks are currently weighted towards economic growth risks, rather than rising inflation, but it remains to be seen as to how long that position will … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Dollar Strengthens On Eurozone Debt Uncertainty Posted: 10 Mar 2011 08:45 AM PST 03/10/11 The greenback continued to strengthen this afternoon in the forex markets following growing worries over expansion of the EU’s debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 10 Mar 2011 08:32 AM PST AFC Enterprises Inc. (NASDAQ:AFCE) posted its fourth quarter 2010 earnings of 18 cents per share, in line with the Zacks Consensus Estimate, but increased 12.5% year over year from 16 cents in the prior-year quarter.
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| PPL Corp. Hives Non-core Assets Posted: 10 Mar 2011 08:32 AM PST PPL Corporation (NYSE:PPL) completed the sale of some of its non-core generation assets to LS Power Equity Advisors, an affiliate of LS Power, for approximately $381 million.
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| Osiris Profits Rise On Lower Costs Posted: 10 Mar 2011 08:32 AM PST Osiris Therapeutics Inc. (NASDAQ:OSIR) reported fourth quarter earnings of 13 cents per share, beating the Zacks Consensus Estimate of 9 cents and the year-ago loss of a cent. Fiscal 2010 earnings of 40 cents per share also beat the Zacks Consensus Estimate of 13 cents and the year-earlier loss of 72 cents. Earnings were mainly driven by lower operating expenses.
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| American Eagle Beats On Cost Cuts Posted: 10 Mar 2011 08:32 AM PST American Eagle Outfitters Inc. (AEO) recently reported fourth quarter and fiscal year 2010 results. Adjusted earnings in the fourth quarter jumped to 44 cents per share from the year-ago earnings of 38 cents per share, marginally beating the Zacks Consensus Estimate of 43 cents a share.
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| HWAY Reports Ennui At Workplace Posted: 10 Mar 2011 08:31 AM PST According to a recent report released by Healthways (NASDAQ:HWAY), The Gallup-Healthways Well-Being Index indicates that satisfaction at the workplace continues to fall over the past 3 years. The Gallup-Healthways Well-Being Index, which is a daily measure of American well-being, gauges 6 critical aspects of contentment, namely work environment, emotional health, physical health, life evaluation, healthy behaviors and basic access.
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| Australian Dollar: The Downside Prevails Posted: 10 Mar 2011 08:31 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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| Airlines Soar Despite High Fares Posted: 10 Mar 2011 08:31 AM PST Jet fuel prices rose over 53% as oil price increased to above $100 per barrel given the ongoing civil unrest in the Middle East. Despite the sharp rise in fuel prices, airline traffic picked up significantly in February attributable to a strong revival in the economy. The month also saw improved performances on the heels of increased air fares and higher revenues collected from extra fees.
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| Canadian Dollar: The Downside Prevails Posted: 10 Mar 2011 08:31 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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| The SP500 Dow Jones And The Critical 50 Day EMA Posted: 10 Mar 2011 08:24 AM PST Traders across the world are watching critical chart levels in the US Equity Indexes very closely… so let's take a look at these reference levels closely. In uptrending moves like these, we look to moving averages to provide support and set-up buy-in trades via retracements as price bounces up off rising EMAs.
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| Forex Trading: GBPUSD Tests 50% Of The Move Up From Jan 25th Low Posted: 10 Mar 2011 08:06 AM PST The GBPUSD is testing support at the 1.6046 level (50 of the move up from the Jan 25th low – last time the price tested the 100 day MA – see chart below). A move below this level has channel trendline support at the 1.6024/29 area (see hourly chart above). With the pretty good move lower today, the area should provide profit taking buying, with stops below. Todays move lower is a trend move. Trends are fast. Trends are directional. However, the sharp move lower, should find … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – Dollar Up Across The Board Amid Rising Risk Aversion Posted: 10 Mar 2011 08:01 AM PST Forex Pros – The U.S. dollar was up against all of its major counterparts on Thursday, after worse-than-expected U.S. data on employment and trade added to concerns over the global economic recovery. During European late afternoon trade, the greenback was up against the euro, with EUR/USD tumbling 0.75% to hit 1.3802. Earlier in the day, Moody’s downgraded Spain's sovereign debt to Aa2 from Aa1 with a negative outlook and warned of further cuts, saying plans to bail out the country's … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Crude Slide On EU Debt Concerns, Dollar Strength Posted: 10 Mar 2011 03:00 AM PST 03/10/11 Front month crude prices continued their slide this session following growing uncertainty over eurozone debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Word From The Floor: Stocks Slump, Coffee Brewers Reach Single-cup Distribution Deal Posted: 10 Mar 2011 08:00 AM PST 03/10/11 US stocks slid sharply on trade deficit data from China, Moody’s downgrade of Spain, and spike in US jobless claims. Starbucks and Green Mountain Coffee Roasters will partner up in the single-cup coffee brewing … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Export Data Spurs Fears Over Global Cooling – Bonds Up Posted: 10 Mar 2011 07:52 AM PST PIMCO’s Bill Gross turned bearish on U.S. government debt and eliminated treasuries from the world’s largest bond fund ahead of creeping doubts in the health of the recovery. No doubt such bond-dumping by the much-admired PIMCO founder took place before the recent acceleration in crude oil prices, yet the sense of elevated geopolitical risks appears to be a challenge to his view that the Fed is on the verge of exiting its over-easy policy stance. Yields slipped once more on Thursday after signs … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – GBP/USD Tumbles To 9-day Low After Weak U.S. Trade, Jobs Data Posted: 10 Mar 2011 07:52 AM PST Forex Pros – The pound extended losses against the U.S. dollar on Thursday, tumbling to a nine-day low after worse-than-expected U.S. trade and employment data added to an air of overall risk aversion. GBP/USD hit 1.6051 during European late afternoon trade, the pair's lowest since February 25; the pair subsequently consolidated at 1.6054, tumbling 0.90%. Cable was likely to find support at 1.6070, the low of February 28 and resistance at 1.5962, the low of February 11. Earlier in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Total U.S. Trade Reaches 2-1/2 Yr. High In January Posted: 10 Mar 2011 07:42 AM PST The BEA released its report today on international trade for January, and what will likely get the most attention is the fact that the monthly trade increased to $46.3 billion from $40.3 billion in December. There will be lots commentary and hand-wringing today about the “bad news” that America’s trade position, trade gap or trade deficit is: a) widening, b) worsening or c) deteriorating in January. What you probably won’t much about is the good news that total U.S. trade (Exports … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Forex – EUR/USD Extends Losses Amid Risk Aversion Posted: 10 Mar 2011 07:42 AM PST Forex Pros – The euro extended losses against the U.S. dollar on Thursday, after weak U.S. trade data and disappointing U.S. jobless claims added to risk aversion, after a cut to Spain’s credit rating kept euro zone sovereign debt in focus. EUR/USD hit 1.3796 during European late afternoon trade, the pair's lowest since March 2; the pair subsequently consolidated at 1.3802, tumbling 0.75%. The pair was likely to find support at 1.3710, the low of February 28 and resistance at 1.3940, … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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| Posted: 10 Mar 2011 07:36 AM PST As you can see from today's Technical Updates on the GBP/USD and EUR/GBP, the Pound was pressured today, following the Bank of England decision to hold rates steady at their record lows of 0.5% and keep its bond holdings at €200 billion ($323 billion). The main UK index – FTSE 100 Index was off 1.43% adding to the sour mood around sterling following the BoE decision.
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| GBP/JPY Might Be Forming A Head And Shoulder Posted: 10 Mar 2011 07:20 AM PST GBP/JPY's Short-term Elliott Wave Adjustments (3/9) - The 1H chart shows the bearish break of the rising channel. You can also interpret it as a break below a triple top. In any case the 133.65 pivot is broken, and a projection towards the 3/7 lows near 133.00 is in sight. The support zone is between 132.85 and 133.00 as seen in the 4H chart.
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| Forex Trading: USDCAD Surges Higher. Approaches Resistance After Sharp Move Posted: 10 Mar 2011 07:20 AM PST Some pent up buying (and shorts) has taken place in the USDCAD today after an up and down session in earlier trade. The pair was pushed higher on the back a weak trade data/lower oil/lower gold.
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| Posted: 10 Mar 2011 06:23 AM PST The morning news notes as prepared by TL…TARP as a profit center?, Spain downgraded, deficit reduction, Wisconsin, PIMCO on US Treasuries, China trade for February falls short, and Blockbuster (movie rentals). click … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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