DailyMarkets.com - Neutral On Salix

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• Neutral On Salix
• AT&T Invests In Network Upgrades
• ConEd Greener On St. Patrick’s Day
• Shell Finds New Oil In Brunei
• Earnings Scorecard: Hibbett Sports
• Forex – AUD/USD Down In U.S. Trade
• MarkWest Stays Neutral
• Who Beats Estimates, Guess?
• Who Beats Estimates, Guess?
• Housing Industry Still Struggling
• Visa Fixes London 2012 Olympics Ticket Purchase Glitch
• European Markets Close Higher; Dax Up 2.17%
• Coincident Economic Activity Indexes, By State
• Fuel & Storm Knock FedEx
• BofA Announces New Board Member
• Who Beats Zacks, Guess?
• Amazon To Sell Android Apps Soon
• Bulls Position For An Energy Select Sector SPDR Rally
• New Look For Sheraton New York
• Lufthansa Order For Boeing, Airbus
• Peabody Energy To Redeem Debts
• Forex Trading: USDCAD Moves Lower After Holding 50% Of The Range
• As The Global Economy Trembles, Our Nation’s Capital Fiddles
• Fifth Third Finally Exits TARP
• “A Bounce Off Of Yesterday’s Selloff”
• Ross Profit Surges
• TARP Closes To Break-Even
• Outlook Bright For Harris
• Visa Makes Deal With Fiserv
• Factory Output Increasing
• Swiss National Bank Holds Rate At 0.25%
• Amylin’s Pipeline Woes Continue
• Loss Narrows At Medivation
• DaVita Remains Neutral
• Cocoa Quieted By Ghana Supply, Japan
• Revenues Rise At ARNA
• Simon Expands And Rebrands Mall
• Medco Health’s PBM Contract Scraped
• Gold And Silver Pullbacks Look Complete
• US Stocks Rebound From Yesterday’s Sell-Off Amid Mixed US Macro Data
• Forex – Dollar Broadly Lower Vs. Rivals As Japan Reactor Eyed
• Yen Rally Continues, Dollar Drops
• Forex – GBP/USD Holds Gains Amid Japan Nuclear Uncertainty
• Regency Opens Three New Malls
• Word From The Floor: US Stocks Rally, On Data And FedEx
• Forex – Euro Trading Close To Four Month High Against Weaker Dollar
• Australian Dollar: Caution
• Canadian Dollar: Caution
• Bonds Pare Huge Gains As Equities Recover
• Multi-Year Insurance Deal For CSC
• Progressive Beats On Higher Premium
• Europe Car Sales Grow
• Marcus Reports Loss
• Verizon To Debut 4G Phone
• Jobless Claims Still Falling
• Forex Trading: EURUSD Off Of Target Support And Now Looks Higher
• Crude Rallies Above $100
• FedEx Sees 3Q Earnings Slide
• GBP/JPY Bounces Off Major Support; Bearish Swing Targets 120.00
• Forex – USD/CAD Tumbles To Daily Low As Rising Oil Prices Weigh
• Leading Economic Indexes Point To Future Growth
• EUR Moves Above $1.40 As Spanish Debt Auction Goes Relatively Smoothly
• Jobless Claims Fall, Job Market Gradually Improving
• The Cheapest Gas In The World: 12 Cents A Gallon
• Morning News Notes: 3.17.11
• Niche Group Confirms Third Pay Zone In Latest Well In Turkey

Neutral On Salix Posted: 17 Mar 2011 11:35 AM PDT Following the release of fourth quarter and full year 2010 results, we maintained our Neutral recommendation on specialty pharmaceutical company, Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP). Salix posted fourth quarter earnings of 66 cents per share, well above the Zacks Consensus Estimate of 50 cents. The company had reported a loss of 13 cents in the year-ago quarter. Higher revenues and lower research and development costs helped improve earnings. Although fourth quarter revenues increased 68.7% to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AT&T Invests In Network Upgrades Posted: 17 Mar 2011 11:35 AM PDT AT&T Inc. (NYSE:T) is planning to upgrade it network to facilitate 4G services in the Las Vegas region. The wireless network enhancement plans represents a part of AT&T’s projected capital expenditure of $19 million in its wireless and wireline networks in 2011. The investment program in Las Vegas includes deployment of backhaul connections to approximately 340 cell sites. The backhaul coupled with High Speed Packet Access+ (HSPA+) technology will support 4G speeds in the region. AT&T … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ConEd Greener On St. Patrick’s Day Posted: 17 Mar 2011 11:25 AM PDT New York City-based Consolidated Edison Inc. (NYSE:ED) joined the St. Patrick’s Day celebrations having achieved a significant mark in its “Green Power” renewable energy program. ConEdison Solutions, a subsidiary of Consolidated Edison, said that the company has curtailed fossil fuel consumption for 2010 by an amount equivalent to 380,000 barrels of oil. ConEdison Solutions serves more than 23,000 business and residential “Green Power” customers in New York, Connecticut and Massachusetts. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Shell Finds New Oil In Brunei Posted: 17 Mar 2011 11:25 AM PDT Royal Dutch Shell plc (RDS.A) announced that its joint venture with 50% stake, Brunei Shell Petroleum made a notable oil discovery in deepwater offshore Southeast Asia. The company plans to carry out further appraisal processes, including drilling of additional wells over the next two years, to determine the full potential of the oil field. As per the initial assessment, the new find, named Geronggong, is expected to hold a number of hydrocarbon reservoirs and contain a large amount of oil … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: Hibbett Sports Posted: 17 Mar 2011 11:25 AM PDT Birmingham, Alabama-based Hibbett Sports Inc. (NASDAQ:HIBB), a sporting goods retailer, recently posted its fourth-quarter 2011 results. Street analysts had nearly a week to ponder on the news. In the paragraphs that follow, we cover the recent earnings announcement, subsequent analysts’ estimate revisions as well as the Zacks Rank and long-term recommendation for the stock. Quarterly Review On March 11, 2011, Hibbett reported fourth-quarter 2011 earnings of 44 cents per share, beating the Zacks … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down In U.S. Trade Posted: 17 Mar 2011 11:15 AM PDT Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday. AUD/USD was trading at 0.9801, down 0.39% at time of writing. The pair was likely to find support at 0.9708, Wednesday's low, and resistance at 1.0152, Monday's high. Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 1.17% to hit 1.4295 and AUD/JPY falling 1.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

MarkWest Stays Neutral Posted: 17 Mar 2011 11:05 AM PDT We are maintaining our Neutral recommendation on MarkWest Energy Partners, L.P. (NYSE:MWE). MarkWest Energy is a master limited partnership, involved in the gathering, processing and transmission of natural gas, transportation, fractionation and storage of natural gas liquids, and the gathering and transportation of crude oil. Last month, the partnership reported weak fourth quarter results with adjusted loss per unit of 5 cents, as against earnings of 75 cents per unit in the prior-year quarter. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Who Beats Estimates, Guess? Posted: 17 Mar 2011 11:05 AM PDT Guess? Inc. (NYSE:GES) delivered record earnings per share (EPS) of $1.11 in its fourth quarter, beating the Zacks Consensus Estimate of $1.06. Earnings were up 19.4% from 93 cents reported in the year-ago quarter. For full-year 2011, earnings increased 19.2% to $3.11 per share compared to $2.61 per share a year ago. The company's expansion in Europe and Asia has paid off, with these regions contributing nearly two thirds of the annual revenue growth. During the year, the company opened 237 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Who Beats Estimates, Guess? Posted: 17 Mar 2011 11:05 AM PDT Guess? Inc. (NYSE:GES) delivered record earnings per share (EPS) of $1.11 in its fourth quarter, beating the Zacks Consensus Estimate of $1.06. Earnings were up 19.4% from 93 cents reported in the year-ago quarter. For full-year 2011, earnings increased 19.2% to $3.11 per share compared to $2.61 per share a year ago. The company's expansion in Europe and Asia has paid off, with these regions contributing nearly two thirds of the annual revenue growth. During the year, the company opened 237 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Housing Industry Still Struggling Posted: 17 Mar 2011 11:05 AM PDT The prolonged weakness in the housing industry has extended up to February 2011. Housing starts fell 22.5% year over year to a seasonally-adjusted annual rate of 479,000 units in February, in contrary to an expectation of an improvement to 580,000 units. The drop in housing starts during the month was the highest since March 1984, driven by a 46% year-over-year decline in multi-family home construction starts along with a 12% fall in single-family starts. The construction of single-family and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Visa Fixes London 2012 Olympics Ticket Purchase Glitch Posted: 17 Mar 2011 11:00 AM PDT 03/17/11 Credit card giant Visa Incorporated announced that it has fixed a problem that left fans unable to book tickets for the 2012 London Olympics the day they went on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Higher; Dax Up 2.17% Posted: 17 Mar 2011 10:55 AM PDT Forex Pros – European stocks were up after the closing bell on Thursday. At the close of European trade, Germany's DAX rose 2.17%, London's FTSE 100 gained 1.68%, France's CAC 40 climbed 2.43% and the EURO STOXX 50 was up 2.39%. Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.77%; the S&P 500 index gained 0.84%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Coincident Economic Activity Indexes, By State Posted: 17 Mar 2011 10:53 AM PDT Coincident economic activity indexes for each U.S. state (and an index the entire country) were updated today through January by the Philadelphia Fed, and are available online from the St. Louis Fed here.  The chart above compares the economic conditions in the U.S. to the economy of North Dakota.  Description: “The Coincident Economic Activity Index includes four indicators: nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing and wages and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fuel & Storm Knock FedEx Posted: 17 Mar 2011 10:40 AM PDT FedEx Corporation's (NYSE:FDX) third quarter fiscal 2011 earnings slipped by a penny but was a nickel above the year-ago earnings. The company has guided fourth quarter and fiscal 2011 earnings above the Zacks Consensus Estimates. Third Quarter Details FedEx, the world’s second-largest package delivery company, reported third quarter (ending February 28, 2011) adjusted earnings of 81 cents per share, before the opening bell. Reduced shipping volume and increased costs led to lower-than-expected … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BofA Announces New Board Member Posted: 17 Mar 2011 10:40 AM PDT The Board of directors of Bank of America Corp. (NYSE:BAC) has named Mukesh D. Ambani, chairman and managing director of India-based Reliance Industries Limited as a director. Mr. Ambani will have to get himself elected at BofA's 2011 annual meeting of shareholders. BofA looks to bank on Mr. Ambani's strategic zeal and operational excellence. The company expects to benefit from his judgement and expertise and thereby bloom and grow in the coming days. His global perception is also expected to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Who Beats Zacks, Guess? Posted: 17 Mar 2011 10:40 AM PDT Guess? Inc. (NYSE:GES) delivered record earnings per share (EPS) of $1.11 in its fourth quarter ended January 29, 2011, beating the Zacks Consensus Estimate of $1.06. Earnings were also up 19.4% from 93 cents reported in the year-ago quarter. For full-year 2011, earnings increased 19.2% to $3.11 per share compared to $2.61 per share a year ago. The company's expansion in Europe and Asia has paid off, with these regions contributing nearly two thirds of the annual revenue growth. During the year, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Amazon To Sell Android Apps Soon Posted: 17 Mar 2011 10:40 AM PDT Amazon.com’s (NASDAQ:AMZN) new Android app store could be a welcome development for app writers. But this development will likely increase the competitive challenge for the Android Market. While Google Inc (NASDAQ:GOOG) has done very well on the search front and google.com has been almost synonymous with search, the company is relatively new to the app market where Apple Inc (NASDAQ:AAPL) reigns supreme. While Google's Android operating system has become ubiquitous in the mobile phone market, the Android … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bulls Position For An Energy Select Sector SPDR Rally Posted: 17 Mar 2011 10:39 AM PDT Bulls position for an Energy Select Sector SPDR rally Today’s tickers: XLE, MHS, GMR & DE Energy Select Sector SPDR ETF (XLE) – Signs of bullish sentiment on the XLE, an exchange-traded fund that tracks the performance of the Energy Select Sector of the S&P 500 Index, appeared in the April contract this morning with shares in the fund rising 2.6% to $75.67 by 11:15am in New York. According to a report out from Bloomberg reporter Arie Shapira, analysts at Goldman recommended buying … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Look For Sheraton New York Posted: 17 Mar 2011 10:35 AM PDT Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) recently announced renovation plans for The Sheraton, New York, one of the largest hotels in New York City with 1,780 guest rooms and other amenities. The renovation will cost $150 million and will be completed in two phases. The first phase will redesign 1080 guest rooms in The Sheraton New York Hotel and Towers by May 2011. The remaining rooms will be worked upon during December 2011 and April 2012. The project marks a milestone in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lufthansa Order For Boeing, Airbus Posted: 17 Mar 2011 10:35 AM PDT German air carrier Lufthansa has announced that its board has approved orders for 30 new passenger jets from Airbus and five new cargo planes from The Boeing Company (NYSE:BA). The value of the order split between the two companies' totals about $4 billion. Under the order, Airbus will supply 30 passenger airplanes including 25 A320neo and five A321neo aircraft. The Airbus order is worth $2.7 billion. The Lufthansa order for Boeing includes five new Boeing 777 freighters and is worth $1.3 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Peabody Energy To Redeem Debts Posted: 17 Mar 2011 10:35 AM PDT Peabody Energy Corporation (NYSE:BTU) announced that it will redeem its 5.875% senior notes due 2016 on April 15, 2011, using its cash balance. The redemption price of the outstanding notes will be 100.979% of the aggregate principal amount of the notes, plus accrued and unpaid interest, if any, up to April 15, 2011. The total amount required for redemption will be $218.1 million. Peabody will leverage its strong balance sheet, which stood at $1.3 billion at the end of fiscal 2010, to redeem the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDCAD Moves Lower After Holding 50% Of The Range Posted: 17 Mar 2011 10:28 AM PDT The USDCAD has started to move away fromt eh 50% retracement of the 2 day trading range. Oil is back higher today and Canada had much stronger Wholesale Sales today.  Staying below the 100 bar MA in the chart above (blue line at 0.9870) should keep the bulls worried.  If the price moves above the 0.9886 midpoint would likely swing the tide the other way.  Looking for some momentum on the move … [visit site to read more] or compare Best Credit Cards and Best CD Rates

As The Global Economy Trembles, Our Nation’s Capital Fiddles Posted: 17 Mar 2011 10:26 AM PDT Why isn't Washington responding? The world's third largest economy suffers a giant earthquake, tsunami, and radiation dangers. A civil war in Libya and tumult in the Middle East cause crude-oil prices to climb. Poor harvests around the world make food prices soar. All this means higher prices. American consumers, still reeling from job losses and wage cuts, will be hit hard. (Wholesale food prices surged almost 4 percent in February, the largest upward spike in more than a quarter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fifth Third Finally Exits TARP Posted: 17 Mar 2011 10:05 AM PDT Fifth Third Bancorp (NASDAQ:FITB) was finally able to exit from the Treasury's Troubled Asset Relief Program (TARP) with the purchase of warrants that were held by the Treasury. Fifth Third repurchased the warrants for approximately $280.0 million. The warrants were issued to the Treasury as part of their efforts to bailout the company through TARP. The repurchase follows the full repayment of $3.4 billion in outstanding TARP funds that was financed by proceeds from equity and debt offerings, in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“A Bounce Off Of Yesterday’s Selloff” Posted: 17 Mar 2011 05:00 AM PDT 03/17/11 ICAP’s Kenneth Polcari discusses today’s US market rally, and weighs in on technical levels for the major … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ross Profit Surges Posted: 17 Mar 2011 09:55 AM PDT The leading off-price retailer of apparels and home accessories in the United States, Ross Stores Inc. (NASDAQ:ROST), reported earnings of $1.37 per share for fourth-quarter 2010, in line with the Zacks Consensus Estimate. The earnings grew 18.1% from the prior-year quarter figure of $1.16 primarily because of strong top line growth and reduced cost of goods sold and operating expenses. For fiscal 2010, the earnings grew robustly by 30.8% to $4.63 from $3.54 per share in the prior-fiscal on the back … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TARP Closes To Break-Even Posted: 17 Mar 2011 09:55 AM PDT The Treasury Department reported on Wednesday that six more banks repaid a total of $475 million in funds they had received as part of their participation in the $700 billion Troubled Asset Relief Program (TARP). The reimbursement lifted the recovery under the program to about 99%. The program was initiated more than two years ago to rescue the nation's financial industry. There is more good news for the Treasury. In addition to the recovery of the entire TARP money, the Treasury expects the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Outlook Bright For Harris Posted: 17 Mar 2011 09:55 AM PDT Yesterday, Harris Corp. (NYSE:HRS), a leading manufacturer of telecom equipment and IT solutions, provided an excellent financial outlook for its next fiscal year (fiscal year 2012). Management predicted its fiscal 2012 non-GAAP EPS to be within the range of $5.10 to $5.20. Its mid-point of $5.15 is miles ahead of the current Zacks Consensus Estimate of $4.96. If the company's prediction comes true, it will be an improvement of 5%-7% over its ensuing fiscal 2011 non-GAAP EPS guidance of $4.80 – … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Visa Makes Deal With Fiserv Posted: 17 Mar 2011 09:55 AM PDT Fiserv, Inc. (NASDAQ:FISV) recently announced an agreement with Visa Inc. (NYSE:V), which will enable users of ZashPay to send money to and receive money from eligible Visa account holders through their primary financial institution. In 2010, Fiserv introduced ZashPay – a person-to-person payments service that enables the secure, electronic movement of money between bank accounts based in the U.S., typically within one to three business days. This agreement will expand the ZashPay network with a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Factory Output Increasing Posted: 17 Mar 2011 09:55 AM PDT Total Industrial Production fell 0.1% in January, which was well below the expected 0.6% increase. While on first blush the decline and the miss are big disappointments, if one digs into the report, it really was not bad. There was a big upward revision to the January numbers, so the change is coming off of a higher base. Instead of total industrial production being down 0.1% in January, it was up 0.3%. Thus, relative to where we thought industrial production was in January, output is actually … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss National Bank Holds Rate At 0.25% Posted: 17 Mar 2011 09:55 AM PDT The Swiss National Bank held its target for the 3-month franc LIBOR unchanged at 0.25 percent. The SNB expects inflation to remain relatively subdued: “Assuming an unchanged three-month Libor of 0.25% during the forecast horizon, average inflation is expected to amount to 0.8% for 2011, to 1.1% for 2012 and to 2.0% for 2013.” The Bank also pointed to eventual tightening, noting: “The conditional inflation forecast shows that there is no threat to price stability in the short term. However, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Amylin’s Pipeline Woes Continue Posted: 17 Mar 2011 09:35 AM PDT Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) suffered yet another pipeline setback with the company and its partner Takeda Pharmaceutical Company Limited announcing the suspension of clinical activities associated with a phase II study of their obesity candidate. Amylin and Takeda were studying the safety and efficacy of pramlintide/metreleptin for the treatment of obesity. However, the companies decided to voluntarily halt the trial in order to evaluate a new antibody-related laboratory finding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Loss Narrows At Medivation Posted: 17 Mar 2011 09:35 AM PDT Medivation Inc. (NASDAQ:MDVN) reported a loss of 11 cents per share in the fourth quarter of 2010, narrower than the Zacks Consensus Estimate of a loss of 15 cents and well below the year-ago loss of 78 cents. Lower expenses led to the narrower loss. Revenues for the quarter were $14.5 million, well below the Zacks Consensus Estimate of $17 million. Revenues were $20 million in the year-ago period. Full year 2010 loss came in at 99 cents, well below the year-ago loss of $1.71 and the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DaVita Remains Neutral Posted: 17 Mar 2011 09:35 AM PDT DaVita Inc.’s (NYSE:DVA) fourth quarter earnings exceeded by a penny compared to the Zacks Consensus Estimate on modest top-line growth, partially offset by higher operating expenses. We have thus reiterated a Neutral rating on DaVita. Revenue in the quarter climbed 5.2% year over year to $1.65 billion, while it increased 5.6% year over year to $6.45 billion in fiscal 2010. However, they were offset by the rise in total operating expenses and charges, which climbed 4.9% year over year to $1.39 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cocoa Quieted By Ghana Supply, Japan Posted: 17 Mar 2011 09:18 AM PDT Today’s Idea Cocoa market fundamentals are a bit unclear at the moment. The healthy Ghana crop has given chocolate makers a fallback. However, these stockpiles may be running thin, which threatens the overall market supply if no resolution is reached soon. Technically, the chart shows a downward bias after support at 3250 was broken. The 3100 mark now becomes an important support level. Some traders may wish to consider buying a May Cocoa futures contract at a limit of 3105, with a stop at 2990 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Revenues Rise At ARNA Posted: 17 Mar 2011 09:10 AM PDT Arena Pharmaceuticals Inc. (NASDAQ:ARNA) suffered a loss (excluding special items) of 23 cents per share in the fourth quarter of 2010 as against an adjusted loss of 38 cents suffered in the year-ago quarter. The narrower loss in the reported quarter was attributable to the rise in revenues coupled with a decline in research and development (R&D) costs. The Zacks Consensus Estimate hinted at a loss of 22 cents per share. Quarterly Results Revenues in the final quarter of 2010 climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Simon Expands And Rebrands Mall Posted: 17 Mar 2011 09:05 AM PDT Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), has recently expanded and rechristened a retail shopping center in Las Vegas Boulevard – a major road in the Las Vegas metropolitan area of Nevada that is best known for the Las Vegas Strip and its casinos. The strategic move is aimed at better communicating the premium quality of the diverse array of products offered at the mall that was acquired by the company in 2003. Simon has renamed 'Las Vegas Outlet … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Medco Health’s PBM Contract Scraped Posted: 17 Mar 2011 09:05 AM PDT California Public Employees’ Retirement System's (CalPERS) decision to cease all discussions on the renewal of pharmacy benefit management (PBM) contract comes as a setback for Medco Health Solutions (NYSE:MHS). However, Medco does not expect this non-renewal to any way impact its results significantly. The company will continue to provide services under the present contract till December 2011. This decision was taken in the backdrop of certain investigations regarding Medco. Earlier, this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold And Silver Pullbacks Look Complete Posted: 17 Mar 2011 09:00 AM PDT Gold and Silver in Pullback to Test Bearish Intent (3/16) Gold (XAU/USD) - Gold was seen yesterday in a wedge. It was noted that a break below it might not mean completion of the correction, or pullback that was occurring. - Indeed we see another rally attempt today, which could be the second swing to complete an ABC correction. - The bearish outlook remains a projection towards 1360-1365 area. This is a swing projection seen in the 4H chart (from around 1410). 1365 is also 161.8% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Stocks Rebound From Yesterday’s Sell-Off Amid Mixed US Macro Data Posted: 17 Mar 2011 08:47 AM PDT US equities rallied Thursday, recouping a big portion of the slide we saw yesterday. The broadest theme is the prospect of a G-7 meeting in which intervention would be discussed. There's varying views on what will come out of the meeting. Some expect Japan to seek international support for a unilateral intervention in the Yen, while others speculate that we may have a multilateral approach taken in order to weaken the Yen. The Dow Jones Index was up 162 points or 1.4% as of 11 AM ET. On … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Broadly Lower Vs. Rivals As Japan Reactor Eyed Posted: 17 Mar 2011 08:44 AM PDT Forex Pros – The U.S. dollar was broadly lower against its major rivals on Thursday, after the yen and the Swiss franc surged to record highs against the greenback as developments at a stricken nuclear reactor in Japan and unrest in the Middle East weighed on risk appetite. During European late afternoon trade, the greenback was trading close to record lows against both the yen and the Swiss franc, with USD/JPY tumbling 0.82% to hit 78.93 and USD/CHF shedding 0.72% to hit 0.9014. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Yen Rally Continues, Dollar Drops Posted: 17 Mar 2011 08:40 AM PDT 03/17/11 The Japanese yen rallied this session as investors continued to stay clear of higher-yielding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Holds Gains Amid Japan Nuclear Uncertainty Posted: 17 Mar 2011 08:32 AM PDT Forex Pros – The pound was trading close to a two-day high against the softer U.S. dollar on Thursday, as Japan's escalating nuclear crisis bolstered demand for safe haven currencies, weighing heavily on the greenback. GBP/USD hit 1.6170 during European late afternoon trade, the pair's highest since Tuesday; the pair subsequently consolidated at 1.6132, gaining 0.67%. Cable was likely to find support at 1.5981, the day's low and short-term resistance at 1.6212, the high of March … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Regency Opens Three New Malls Posted: 17 Mar 2011 08:25 AM PDT Regency Centers Corp. (NYSE:REG), a leading operator and developer of grocery-anchored and community shopping centers across the U.S., has recently announced the opening of three new shopping centers, representing a combined investment of $41 million. Spanning 263,000 square feet of retail space, the properties include 'Market at Colonnade' in Raleigh, North Carolina, 'NorthGate Village' in Greeley, Colorado and 'Harris Crossing' in Wake Forest, North Carolina. 'Market at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Word From The Floor: US Stocks Rally, On Data And FedEx Posted: 17 Mar 2011 03:20 AM PDT 03/17/11 US equity indexes soared over 1% on the latest economic data, and FedEx Corp.’s profit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Euro Trading Close To Four Month High Against Weaker Dollar Posted: 17 Mar 2011 08:20 AM PDT Forex Pros – The euro was trading close to a four-month high against the broadly weaker U.S. dollar on Thursday, as developments at a stricken Japanese nuclear plant remained the main focus for markets. EUR/USD hit 1.4053 during European late afternoon trade, the pair's highest since November 8; the pair subsequently consolidated at 1.4022, surging 0.87%. The pair was likely to find support at 1.3854, the low of March 15 and resistance at 1.4248, the high of November 5. Earlier in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Caution Posted: 17 Mar 2011 08:19 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Caution Posted: 17 Mar 2011 08:19 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bonds Pare Huge Gains As Equities Recover Posted: 17 Mar 2011 08:19 AM PDT The desire to hold the safety of government bonds appears to have passed. A recovery overnight in the Nikkei 225 stock market index from 5% slump has equity prices rebounding around the world. Meanwhile analysts the world over are poring over the anatomy of a spike in the value of the yen that currently represents a capitulation in the catalog of Japanese disasters in the space of less than one week. It’s almost as if they believe the potential disaster at the failed nuclear power plant in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Multi-Year Insurance Deal For CSC Posted: 17 Mar 2011 08:16 AM PDT Virginia-based Computer Sciences Corp. (NYSE:CSC) announced that it has inked a multi-year licensing agreement with a leading life insurance carrier in the U.S. The insurance carrier is one of the top 20 insurance companies in the country as determined by A.M. Best Company, a credit rating firm focused on banking and insurance sectors. Financial terms were not disclosed. As per the agreement, Computer Sciences has licensed its New Business Accelerator (nbAccelerator) software, which will enable … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Progressive Beats On Higher Premium Posted: 17 Mar 2011 08:16 AM PDT Progressive Corp.'s (NYSE:PGR) earnings per share for February 2011 were 17 cents, up 2 cents from the year-ago earnings of 15 cents, in line with the prior month’s results. Net income was $114.1 million, increasing 16% from year ago and 1% over the preceding month. The company recorded net premiums of $1.3 billion during February 2011, up 4% from $1.2 billion in February 2010 and down 5% from $1.4 billion during January 2011. Net premiums earned were $1.12 billion, up 5% from $1.08 billion in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Europe Car Sales Grow Posted: 17 Mar 2011 08:15 AM PDT The European Automobile Manufacturers' Association reported a 1.4% rise in sales to 1.01 million vehicles during February for the first time in 11 months. The sales gain was led by impressive sales of Volkswagen AG and General Motors Co. (NYSE:GM)'s Opel branded cars and strong demand for new models in Germany and France — two largest markets in the European Union (EU) — as well as in Poland . Sales by Volkswagen Group grew 9.1% to 226,126 vehicles driven by higher sales of its namesake and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Marcus Reports Loss Posted: 17 Mar 2011 08:15 AM PDT The Marcus Corporation (NYSE:MCS) recorded a third quarter 2011 loss of 7 cents per share, which compares unfavorably with the Zacks Consensus Estimate of 5 cents and 11 cents earned in the year-earlier quarter. The entertainment and lodging company's revenues declined 12.9% year over year to $84.0 million and lagged the Zacks Consensus Estimate of $95 million. The drop in revenue was due to weak performance by the movie theater division, Marcus Theater, partially offset by solid performance by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Verizon To Debut 4G Phone Posted: 17 Mar 2011 08:15 AM PDT Verizon Wireless, a joint venture between Verizon Communications Inc. (NYSE:VZ) and Vodafone Group plc (NYSE:VOD), will debut its first 4G handset "ThunderBolt" on March 17. The smartphone will be available at all Verizon stores and is priced at $249.99 with a two-year contract. Verizon will sell its first 4G handset in collaboration with HTC Corp. and will run on Google Inc. (NASDAQ:GOOG) Android software program. By virtue of being the first and only 4G handset, ThunderBolt will take full advantage … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jobless Claims Still Falling Posted: 17 Mar 2011 08:15 AM PDT Initial Claims for Unemployment Insurance fell by 16,000 last week to 385,000 (last week was revised up by 4,000, so one could see it as a 12,000 decrease). This was a bit better than the expected level of 386,000. The trend in initial claims is downward, although there have been some bumps along the way. 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 the weekly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Off Of Target Support And Now Looks Higher Posted: 17 Mar 2011 08:14 AM PDT The EURUSD reached the target on the downside at the 1.3981 level and found buyers. The price is back up at the 1.4001-06 resistance area with the topside target at the 1.4030 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rallies Above $100 Posted: 17 Mar 2011 03:00 AM PDT 03/17/11 Growing unrest in Bahrain and Libya has paved the way for another session of gains for front month crude … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FedEx Sees 3Q Earnings Slide Posted: 17 Mar 2011 07:45 AM PDT 03/17/11 Rough winter weather and rising fuel prices had a negative impact on FedEx’s 3Q … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/JPY Bounces Off Major Support; Bearish Swing Targets 120.00 Posted: 17 Mar 2011 07:39 AM PDT A Look at the Current Japanese Yen Strength (3/16 Video) GBP/JPY Elliott Wave Count; 125.50-126.50 Zone in Sight (3/15) GBP/JPY - The GBP/JPY was seen to test the 125.50 low, and dipped below this support zone to kiss 122.00 before a rejection that looks like a Dead Cat Bounce brought the pair back to the 126.50, where it is forming a triangle, or basically a narrow consolidation. - If the market continues to slide, a conservative swing projection targets 120.00. The negative reversal seen in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Tumbles To Daily Low As Rising Oil Prices Weigh Posted: 17 Mar 2011 07:33 AM PDT Forex Pros – The U.S. dollar fell to a daily low against its Canadian counterpart on Thursday, as crude oil, Canada's biggest export, surged to a two-day high amid ongoing unrest in the Middle East. USD/CAD hit 0.9835 during European afternoon trade, the daily low; the pair subsequently consolidated at 0.9838, tumbling 0.74%. The pair was likely to find support at 0.9733, Tuesday's low and resistance at 0.9966, Wednesday's high. Earlier Thursday, the Bahraini government continued its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Leading Economic Indexes Point To Future Growth Posted: 17 Mar 2011 07:27 AM PDT The Conference Board reported today that its Leading Economic Index (LEI) for the U.S. increased  in February for the 23rd consecutive month starting (see chart above).  February’s LEI, at 113.4, was 0.8% above January’s index level, and follows a 0.1% percent increase in January, a 1.0% increase in December, and monthly increases in every month back to April 2009. Says Ataman Ozyildirim, economist at The Conference Board: "With February's large gain, the U.S. LEI returned to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR Moves Above $1.40 As Spanish Debt Auction Goes Relatively Smoothly Posted: 17 Mar 2011 07:20 AM PDT The EUR/USD pair continued its see-saw action, with the Euro rallying rather strongly today, pushing above the $1.40 level, climbing to its highest level since November 8th as it set an intra-day high near $1.4053. For a technical analysis look at the EUR/USD pair, see today's Technical Update: EUR/USD is a Bullish Breakout Targets 1.41, 1.4280 The Euro is rallying on the back on interest rate expectations, even as there are strong concerns about what will happen with sovereign debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jobless Claims Fall, Job Market Gradually Improving Posted: 17 Mar 2011 06:50 AM PDT The Department of Labor reported today that jobless claims (4-week average) fell last week to 386,250, the lowest level since the second week of July 2008, more than 2-1/2 years ago (see chart above).  From the Associated Press: “The four-week average for claims dropped to 386,250. That was the lowest level since July 2008, providing evidence that the job market is on a more solid footing. The benefits report showed that the number of people receiving regular unemployment benefits fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Cheapest Gas In The World: 12 Cents A Gallon Posted: 17 Mar 2011 06:34 AM PDT Gasoline in Venezuela costs about 12 cents a gallon, well below the $4 a gallon or more paid in most of the industrialized world, but those low prices are bankrupting the oil-driven economy. Read more … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 3.17.11 Posted: 17 Mar 2011 06:22 AM PDT The morning news notes as prepared by TL…US initial jobless claims, Libya and a no fly zone, Japan, and Yen strength.   ”Morning News Notes: March 17, 2011″ click … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Niche Group Confirms Third Pay Zone In Latest Well In Turkey Posted: 17 Mar 2011 05:06 AM PDT Niche Group (LON:NGP) , the AIM listed investment company with interests in onshore gas exploration and development activities in Turkey, reported this morning that its latest well, Gulhanim-2, had reached total depth and encountered three separate hydrocarbon-bearing zones. The news sent the Niche Group share price up by 4% to 7.62p. The well operator, Arar Petrol ve Gaz AUPAS, drilled Gulhanim-2 on the Konya Block (4077) to 3,133m. Previously announced gas and gas condensate discoveries were … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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