Friday, March 4, 2011

DailyMarkets.com - Rite Aid Reports Positive Data

DailyMarkets.com - Rite Aid Reports Positive Data

Rite Aid Reports Positive Data

Posted: 04 Mar 2011 12:05 PM PST

Leading drugstore chain operator Rite Aid Corp. (NYSE:RAD) reported a growth of 1% in same-store sales for the five weeks ended February 26, 2011.
For the month of February, front-end same-store sales increased 1.1%. Results moderated from an increase of 2.2% in January 2011.
Pharmacy same-store sales in February improved 0.9% despite a 243 basis point headwind from new generic introductions. Results improved from a 0.6% increase in January 2011. Prescriptions filled at comparable stores increased … [visit site to read more] or compare Best Credit Cards and Best CD Rates

WNR Loss Narrows, But Misses Ests

Posted: 04 Mar 2011 12:05 PM PST

Oil refiner and marketer Western Refining Inc. (WNR) reported weaker-than-expected fourth-quarter results, reflecting lower refinery throughput. The company incurred a loss per share (excluding special items) of 4 cents, versus the Zacks Consensus Estimate for a profit of 5 cents.
However, the El Paso, Texas-headquartered company improved considerably from the fourth-quarter 2009 loss of 58 cents per share (excluding special items) amid higher refining margins and gains from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Verifone Systems, Inc.

Posted: 04 Mar 2011 11:25 AM PST

Verifone Systems, Inc. (NYSE:PAY) recently spiked more than 9% in one day on a solid Q4 earnings surprise that has shares trading within $1 of the all-time high. Estimates have since jumped higher, providing plenty of momentum for this Zacks #2 rank stock.
We got an update on Verifone’s business on March 1 when the company reported strong Q4 results that came in ahead of expectations.
Fourth-Quarter Results
Revenue for the period was up 27% from last year to $284 million. Earnings also looked … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Devon Ups Quarterly Dividend

Posted: 04 Mar 2011 11:25 AM PST

Devon Energy Corporation (NYSE:DVN) boosted its quarterly dividend by 6%, raising the second quarter 2011 dividend to 17 cents per share compared with the previous dividend rate of 16 cents. This increase brings Devon's annualized dividend rate to 68 cents per share from the previous rate of 64 cents.
Devon also confirmed that the increased quarterly dividend will be paid on June 30, 2011, to shareholders of record as of June 15, 2011. Devon's new annualized dividend rate reflects a current … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 04 Mar 2011 11:15 AM PST

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

EUR/USD was trading at 1.3994, up 0.18% at time of writing.

The pair was likely to find support at 1.3712, Monday's low, and resistance at 1.4007, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.22% to hit 0.8601 and EUR/JPY rising 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

West Africa Central Bank Holds Rate At 4.25%

Posted: 04 Mar 2011 11:14 AM PST

The Central Bank of West African States maintained its marginal lending facility rate at 4.25%, the minimum open market rate at 3.25% and the bank reserves requirement at 7.00%. The move was driven by unrest and instability in the region’s largest economy, Cote d’Ivoire (Ivory Coast). The West African States (Benin, Burkina Faso, Cote d’Ivoire, Guinea Bissau, Mali, Niger, Senegal, Togo) saw their inflation rate rise to 3.9% in December 2010 from 2.6% in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold And Silver Soars As U.S. Dollar Hits New Lows

Posted: 04 Mar 2011 11:11 AM PST

The gold (GLD) and silver (SLV) meteor keeps soaring in the skies over Wall Street as the US dollar (UUP) is parachuting into new lows. The spot price of silver this week broke $34.40, zooming into a record high area unseen since 1980. On March 1, gold followed its poorer brother by breaking out at $1425. The US dollar is challenging all-time lows. It does not take a PhD from Princeton to realize that there may be a problem here. Maybe the recent radical central bank … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Novell EPS Beats, Revenue Misses

Posted: 04 Mar 2011 11:05 AM PST

Enterprise software developer Novell Inc. (NASDAQ:NOVL) reported first quarter 2011 non-GAAP earnings (excluding one-time charges) of 7 cents per share, which was 2 cents above the Zacks Consensus Estimate. Earnings per share (EPS) were in line with the year-ago quarter's 7 cents. The quarter was impacted by a $31 million net tax charge in connection with the planned repatriation of a majority of non-U.S. cash.
Revenues
Revenues decreased 5.8% year over year to $190.7 million from $202.4 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Toyota Popular In EU: Hybrid Helps?

Posted: 04 Mar 2011 10:35 AM PST

Toyota Motor Corp. (NYSE:TM) expects its European sales to rise to 1 million vehicles by 2013–2014 with the addition of at least 10 hybrid models. The automaker, which already has an established market in the continent, currently offers six hybrid models in the region under its namesake and Lexus line-ups.
In 2010, Toyota sold 808,000 vehicles in Europe, Israel and Central Asia, exceeding its guidance of 800,000 units. Among them, 780,000 units were sold entirely in Europe. The U.K. was the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 04 Mar 2011 10:35 AM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

AUD/USD was trading at 1.0121, down 0.25% at time of writing.

The pair was likely to find support at 1.0076, today's low, and resistance at 1.0202, Tuesday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 192.00K last month, from 63.00K in the preceding month whose figure was revised … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“If Oil Keeps Going Up…stall Growth Of Economy”

Posted: 04 Mar 2011 10:31 AM PST

03/04/11 Seaport Securities’ Jason Weisberg weighs in on crude oil topping … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Three-legged Bull Prepares For A PNC Rally

Posted: 04 Mar 2011 10:07 AM PST

Three-legged bull prepares for a PNC rally
Today’s tickers: PNC, CEDC, SPLS & GILD
PNC Financial Services Group, Inc. (NYSE:PNC) – Shares in the financial services firm are down 1.00% at $60.34 in early-afternoon trade, but activity in May contract call and put options suggests one strategist sees shares in PNC rising sharply in the next few months. The three-legged bullish player appears to have sold 5,000 puts at the May $55 strike for a premium of 1.39 each, purchased the same number of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down In U.S. Trade

Posted: 04 Mar 2011 10:00 AM PST

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Friday.

NZD/USD was trading at 0.7374, down 0.49% at time of writing.

The pair was likely to find support at 0.7339, today's low, and resistance at 0.7554, Monday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.18% to hit 1.3716 and EUR/NZD rising 0.55% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Lower; Dax Down 0.65%

Posted: 04 Mar 2011 09:55 AM PST

Forex Pros – European stocks were down after the closing bell on Friday.

At the close of European trade, Germany's DAX fell 0.65%, London's FTSE 100 shed 0.24%, France's CAC 40 declined 1.00% and the EURO STOXX 50 was down 0.68%.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 192.00K last month, from 63.00K in the preceding month whose figure was revised up from 36.00K.

Analysts had expected U.S. non-farm payrolls … [visit site to read more] or compare Best Credit Cards and Best CD Rates

First Industrial To Offer Shares

Posted: 04 Mar 2011 09:35 AM PST

First Industrial Realty Trust, Inc. (NYSE:FR), a real estate investment trust (REIT), has recently announced its plans to offer 8.9 million common shares. UBS Securities LLC, an indirect wholly-owned subsidiary of UBS AG (NYSE:UBS) is acting as the sole book-running manager for the offering. First Industrial intends to utilize the proceeds from the secondary offering to repay its debt.
The latest equity offer is part of the long-term strategy of the company to de-lever its balance sheet and attain a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jobs Report In Depth, Part 1

Posted: 04 Mar 2011 09:35 AM PST

The economy added a total of 192,000 jobs in February. That is just a bit better than consensus expectations for a gain of 185,000. The increase is in line with the numbers put out on Wednesday by ADP that showed a gain of 217,000 private sector jobs.

Government payrolls declined by 30,000 and the private sector added a total of 222,000. So unlike the last two months, the ADP number looks pretty accurate. The consensus was looking for a decline of 13,000 government jobs and thus also for a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GPB/JPY Shows Outside Bar To Possibly Complete Wave 2 Or B Wedge

Posted: 04 Mar 2011 09:18 AM PST

GBP/JPY Testing Resistance at 134.10; Elliott Wave Scenarios (3/3)
GBP/JPY
- The GBP/JPY was testing 134.10, and a break extended the correction rally to 135.00 area, creating a rising wedge. A break below this wedge is an early sign of bearish continuation in the short-term.
- Also, an outside bar, where the high is higher, and low is lower formed. This suggests exhaustion at the 135.00 level, and a decline to follow.
- A bearish swing projection targets 130.80 area as shown in the 4H chart. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SGMS Misses On Lower Revenue

Posted: 04 Mar 2011 09:06 AM PST

Scientific Games Corp. (NASDAQ:SGMS) reported fourth quarter 2010 earnings of 2 cents, missing Zacks Consensus Estimate of 4 cents. This was better than a loss of 5 cents reported in the year-ago quarter.
The year-over-year growth was driven by higher revenues (excluding racing business for both the periods) in the quarter. Scientific Games completed the sale of Racing Business in October 2010.
Operating Performance
Scientific Games reported an operating loss of $5.6 million compared with $6.4 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AIG’s Chartis Demoted, Yet Hopeful

Posted: 04 Mar 2011 09:06 AM PST

On Monday, American International Group Inc.'s (NYSE:AIG) property-casualty insurance (P&C) subsidiary, Chartis, was downgraded by Standards and Poor's (S&P) rating agency.
Based on Chartis' weaker-than-expected fourth quarter performance, S&P lowered it to "A" from "A+." However, Chartis continues to enjoy investment grade status. Currently, AIG's two dominant businesses are: general insurer Chartis and life insurer SunAmerican Financial Group.
During the fourth … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eastman Kodak Acquires Tokyo Ohka

Posted: 04 Mar 2011 09:05 AM PST

Eastman Kodak Company (NYSE:EK) completed the acquisition of all the assets of the relief plates business of Tokyo Ohka Kogyo Co., Ltd.. The financial terms of the transaction were not disclosed.
Tokyo Ohka Kogyo's relief plate business provides flexography, letterpress, Braille, molding plate products and other products.
According to the terms of the agreement, Tokyo Ohka Kogyo will transfer its manufacturing plant located in Yamanashi Prefecture to Eastman Kodak.
The relief plate business is … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Allstate Sues Credit Suisse On MBS

Posted: 04 Mar 2011 09:05 AM PST

Bloomberg reported that Allstate Corp. (NYSE:ALL) has filed a federal complaint against Credit Suisse AG (NYSE:CS) alleging that the latter had sold more than $231 million of toxic investments in lieu of safe investments to Allstate between 2005 and 2008, which later encountered a drastic price decline.
Accordingly, Allstate now seeks justice and a penalty to recover its losses from the leading investment banker. Allstate also seeks compensation for the litigation costs and losses incurred on account … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Standard Motor Ahead Of Estimates

Posted: 04 Mar 2011 09:05 AM PST

Standard Motor Products Inc. (NYSE:SMP) saw a profit of $2.6 million or 11 cents per share (excluding non-operational gains and losses) in the fourth quarter of 2010, exceeding the Zacks Consensus Estimate by 8 cents per share.
The profit rose from $398,000 or 2 cents per share (excluding non-operational gains and losses) in the fourth quarter of 2009 led by strong growth in the aftermarket, new business from the acquisition of Federal-Mogul Corp.’s (NASDAQ:FDML) wire line and hot summer favorably … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of European Session

Posted: 04 Mar 2011 09:00 AM PST

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

EUR/USD was trading at 1.3981, up 0.09% at time of writing.

The pair was likely to find support at 1.3712, Monday's low, and resistance at 1.4007, today's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.26% to hit 0.8604 and EUR/JPY falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Silver Signaling Bullish Resumption To 35.70-36, 37.30

Posted: 04 Mar 2011 08:56 AM PST

Gold and Silver Might be Exhaused; Will Channels Hold? (3/3)
Silver (XAG/USD)

- Silver remains in an upwards channel, and had a very minor correction to 34.20 area before continuing the bullish attempt. The RSI also shows bullish continuation, staying mainly above 40, and now above 50 to rally towards 70.
- The market will satisfy an earlier swing projection near 35.70, and the 36.00 200% extension target seen in the daily chart. The 34.50 level should hold for this bullish scenario to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Outlook And Attractive Sectors

Posted: 04 Mar 2011 08:47 AM PST

As we prepare for Friday's employment report, it is a good time to review both the market's outlook for the next few months and our possible investment approach. For those keeping score at home, the consensus forecast for Friday's employment number is 180,000; the range of forecasts spans from 120,000 to 255,000. Thursday saw the biggest gain in stocks thus far in 2011. According to Bloomberg:
The Institute for Supply Management's index of non- manufacturing businesses increased … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Strong Economic Data Lifts Risk Appetite

Posted: 04 Mar 2011 08:45 AM PST

03/04/11 Risk appetite has returned to the forex markets this session following another round of strong economic reports out of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gold Shows Positive Reversal Signal; Targets 1458 If 1420 Holds

Posted: 04 Mar 2011 08:42 AM PST

Gold and Silver Might be Exhaused; Will Channels Hold? (3/3)
Gold (XAU/USD)

- Following up with yesterday's post, the channel in gold held, and the market has formed a positive reversal signal (a lower RSI low corresponding to a higher price low).
- This suggests a swing projection which targets 1458. The market should stay above the 1420 level for this scenario to develop, otherwise, we might be seeing another correction decline. Then as long as the 1390-1395 zone is intact, we are still … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up Toward The End Of European Session

Posted: 04 Mar 2011 08:40 AM PST

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

EUR/USD was trading at 1.3978, up 0.06% at time of writing.

The pair was likely to find support at 1.3712, Monday's low, and resistance at 1.4007, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.27% to hit 0.8605 and EUR/JPY rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Most Important Price Chart For Investors

Posted: 04 Mar 2011 08:32 AM PST

So, let me guess. You thought I was going to give you a price chart of the movement of oil, gold or interest rates. I don't need to show you charts on them…you've been reading on these pages for months that they will continue to rise.

The most important chart for investors is about a transfer of economic power. It is about investors and foreigners leaving the U.S. dollar. It is about the repercussions that America will feel during its quiet devaluation of the greenback. It's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rises Above $103

Posted: 04 Mar 2011 03:30 AM PST

03/04/11 Front month crude prices continued to rise this session on growing turmoil in oil producing nations in the Middle East and a weaker … [visit site to read more] or compare Best Credit Cards and Best CD Rates

TOTAL In Key Russian Alliance

Posted: 04 Mar 2011 08:25 AM PST

Integrated oil and gas company TOTAL S.A. (NYSE:TOT) deepened its presence in Russia by entering into two noteworthy Memorandums of Cooperation with the largest Russian independent gas producing company, OAO Novatek.
The first memorandum involves TOTAL as the major international partner for the Yamal LNG project holding a 20% share while Novatek reserves a 51% interest. The second recent initiative in Russia will see TOTAL acquiring a 12.08% stake in Novatek with an option to increase the share to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Maxwell Builds Order Book

Posted: 04 Mar 2011 08:25 AM PST

Maxwell Technologies Inc. (MXWL) announced that it has received a cost-shared technology development contract worth approximately $7 million from the United States Advanced Battery Consortium LLC ("USABC").
Maxwell Technologies will develop and integrate technologies with advanced energy storage system for power-assist hybrid electric vehicles (PAHEVs). Under the contract, the company will also be responsible for capacitor technology development, module technology and design, electrode … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FMC Wins Petrobras Supply Order

Posted: 04 Mar 2011 08:22 AM PST

Houston, Texas-based FMC Technologies (NYSE:FTI) announced that it has signed a $125 million supply contract with Brazilian oil giant Petroleo Brasileiro S.A.  (PBR) or Petrobras S.A. Per the terms of the deal, the former will supply 32 subsea trees for the development and expansion of Petrobras' oil and gas fields in offshore Brazil. The delivery is slated for 2013.
This order forms a part of the four-year subsea tree frame agreement inked by the two companies in February 2010. The scope … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Valero Sees Sequential Slip

Posted: 04 Mar 2011 08:22 AM PST

Valero Energy Corporation (NYSE:VLO) expects a substantial sequential earnings drop for the first quarter of 2011. The company, in its recent first quarter 2011 interim update, stated that it expects earnings to fall to the range of 15–30 cents per share, compared with the adjusted fourth quarter 2010 profit of 40 cents. This decline primarily reflects an after-tax loss of $348 million, or 61 cents per share, related to hedging activities, to be included in the current quarter.
Valero's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cooper Outshines, Profit Doubles

Posted: 04 Mar 2011 08:21 AM PST

Cooper Companies (NYSE:COO) reported healthy first-quarter fiscal 2011 (ended January 31) results with adjusted earnings per share of 85 cents handily surpassing both the Zacks Consensus Estimate of 68 cents and the year-ago earnings of 49 cents.
Adjusted earnings exclude a net gain of $5.1 million (or 11 cents per share). Net income for the quarter roughly doubled  year over year to $45.3 million (or 96 cents a share), boosted by double-digit growth, in both reported and constant currency … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Real News On Jobs

Posted: 04 Mar 2011 08:20 AM PST

Are we making progress on the jobs front? The Bureau of Labor Statistics reports 192,000 new jobs in Februrary (220,000 new jobs in the private sector and a drop in government employment), and a drop in the overall unemployment rate from 9 to 8.9 percent.
We're heading in the right direction but far too slowly to make a real dent in unemployment. To get the unemployment rate down to 6 percent by 2014 we'd need over 300,000 new jobs a month, every month, between now and then.
Overall, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down Toward The End Of European Session

Posted: 04 Mar 2011 08:20 AM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Nonfarm Payrolls.

USD/JPY was trading at 82.33, down 0.13% at time of writing.

The pair was likely to find support at 81.58, Wednesday's low, and resistance at 83.05, today's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 192.00K last month, from 63.00K in the preceding month whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: The Downside Prevails

Posted: 04 Mar 2011 08:19 AM PST

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

Canadian Dollar: The Downside Prevails

Posted: 04 Mar 2011 08:19 AM PST

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

Forex Trading: GBPUSD In Between Support And Resistance

Posted: 04 Mar 2011 08:08 AM PST

The GBPUSD is another pair which is having difficulty with a bias today.  The pair has been up and down a number of times already but some levels are being established.
For one, on the topside the 1.6297/04  level has found selling interest. On the downside, the four hourly bar lows at 1.6233 provide the support. In between is the 100 hour MA which stands at 1.6278 and the 1.6254 level which has been a support and resistance level for the week. 
With the price testing the 1.6254 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down Toward The End Of European Session

Posted: 04 Mar 2011 07:55 AM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on Unemployment Rate.

GBP/USD was trading at 1.6262, down 0.10% at time of writing.

The pair was likely to find support at 1.6073, Monday's low, and resistance at 1.6344, Wednesday's high.

Earlier in the day, official data showed that the U.S. unemployment rate fell unexpectedly to a seasonally adjusted 8.90% last month, from 9.00% in the preceding month.

Analysts had expected the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Word From The Floor: Unemployment Down, Oil Up

Posted: 04 Mar 2011 07:53 AM PST

03/04/11 The US unemployment rate dipped to 8.9% in February. Nonfarm payrolls expanded by 192K jobs. Crude oil topped … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Below 100 Day MA At 82.56. London/Europe Looks To Exit

Posted: 04 Mar 2011 07:52 AM PST

The 100 day MA comes in at 82.56. THis was trendline support from earlier today. The 38.2% of the move down from from the high today to the new low at 82.21 comes in at the 82.52 (100 bar MA on the 5  minute chart is also at the level – blue line in chart below).  With the price back above the initial low for the day at the 82.28 level, the market seems to have found a bottom. The question is does it have the "will" to push much higher?  London and EUROPE close/squaring will … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The European Session

Posted: 04 Mar 2011 07:30 AM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Unemployment Rate.

EUR/USD was trading at 1.3984, up 0.11% at time of writing.

The pair was likely to find support at 1.3712, Monday's low, and resistance at 1.4007, today's high.

Earlier in the day, official data showed that the U.S. unemployment rate fell unexpectedly to a seasonally adjusted 8.90% last month, from 9.00% in the preceding month.

Analysts had expected the U.S. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests Intraday Support. Is The Market Still Short?

Posted: 04 Mar 2011 07:24 AM PST

The EURUSD tried above the 1.4000 level but has come off as the NY morning progresses. The pair is testing th 38.2% of the sharp move higher today at the 1.3981 level. A move below the level will likely signal the market is more neutral now. However, it does seem the market is finding some buyers at/near the level. If the market is still short, I would expect buyers to come in at this level to square up before the weekend. For the shorts it is better than 1.4000 plus. They may not be happy. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Today’s Employment Report

Posted: 04 Mar 2011 07:20 AM PST

From today’s BLS employment report:

1. Payroll employment increased for the fifth straight month, as the U.S. economy added 192,000 payroll jobs in February, bringing the total increase to 671,000 jobs added since last October.   Total employment according to the household survey (including self-employed and agriculture workers) increased by 250,000 jobs in February, following increases of 117,000 in January and 297,000 jobs in December. 

2. The jobless rate fell to 8.9% in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Wal-Mart’s Annual Dividend Increases Nearly 21%

Posted: 04 Mar 2011 02:15 AM PST

03/04/11 Despite a decline in cash generated, Walmart’s board approved a near 21% annual dividend boost for its investors in fiscal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Question Of Timing

Posted: 04 Mar 2011 07:08 AM PST

They say that timing is everything. In the last couple of weeks economists have cracked open the debate over how fast the broader economy is really recovering and specifically how robust is that of the labor market. The Fed claims that it may take four or five years to drag the rate of unemployment back to where it was before the bust. In light of five back-to-back monthly payroll gains and another dip in the unemployment rate to 8.9% the bigger debate is likely to be whether the Fed isn’t just … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rheochem To Focus On Exploration And Production After Selling Drilling Fluids Business

Posted: 04 Mar 2011 03:11 AM PST

Rheochem (LON:RHEP) , the AIM listed oil and gas company, has agreed a deal to sell its drilling fluids business for up to £28m to Newpark Resources Inc (NYSE:NR). The deal clears the way for Rheochem's chief executive Haydn Gardner to refocus the company as a pure play exploration and production company. It already owns a 10% stake in the Athena oil field in the UK North Sea, which is currently being developed.

Newpark is paying around £14.7m up front for the drilling fluids business, with … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Daron Lee Of XCAP Securities Sets His Sights On Smaller Quoted Companies

Posted: 04 Mar 2011 01:28 AM PST

When Daron Lee set up investment banking boutique XCAP Securities (LON:XCAP) in 2009, the market for small cap stocks had been ravaged by the economic crisis, leaving companies and investors licking their wounds. While he readily admits that some of his friends in the City thought he was crazy to even consider the move, XCAP has nevertheless made a strong start and is now looking to capitalise on better conditions for small caps.

Lee has a habit of making waves in the City. As the founder of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Conroy Gold And Natural Resources To Carry Out Infill Drilling At Contibret Gold Project

Posted: 04 Mar 2011 01:22 AM PST

Conroy Gold Natural Resource (LON:CGNR), the AIM listed resource company exploring and developing gold and other natural resource projects in Ireland, has begun an infill drilling programme at its Clontibret gold target in County Monaghan. This move follows the completion of a scoping study by Wardrop Engineering which yielded positive results on both technical and financial grounds and its recommendation that infill drilling should proceed. The Conroy Gold and Natural Resources share prices … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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