Tuesday, April 5, 2011

DailyMarkets.com - Citi Looks To Asian Markets

DailyMarkets.com - Citi Looks To Asian Markets

Citi Looks To Asian Markets

Posted: 05 Apr 2011 12:05 PM PDT

In an effort to expand business in Asian markets, Citigroup Inc. (NYSE:C) could invest billions in its consumer banking unit in the region. According to a Bloomberg report, Citi schedules a $3 billion to $4 billion of investment in its consumer business with a sizable part of it in the emerging markets, over the next two to three years.
Asian operations have been a significant contributor of Citi's consumer banking income in the prior year and remain an attractive market with growth in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Office Vacancy Dips, Market Revives

Posted: 05 Apr 2011 12:05 PM PDT

According to the first quarter report by property research firm Reis Inc., the U.S. office market is poised for a likely recovery in 2011, after a slump in market fundamentals for three and a half years due to the economic downturn that had plagued the industry.
The report revealed that the office vacancy rate declined for the first time since before the recession during first quarter 2011, spurred by a stronger labor market that had led companies to sign more leases to accommodate a larger … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. To Hit Debt Ceiling Soon

Posted: 05 Apr 2011 11:35 AM PDT

Is the economy heading toward another cataclysm? According to Treasury Secretary Timothy Geithner, the federal government will bump against the current $14.29 trillion debt ceiling by May 16, if Congress does not take a prompt action.
If the ceiling is not pushed up immediately, the country will default on its obligations. As a result, both American and foreign investors will lose confidence in the country's ability to meet commitments. As of Friday, the government’s debt remained just $95 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Deere Remains Neutral

Posted: 05 Apr 2011 11:35 AM PDT

We reiterate our Neutral recommendation on Deere & Company (NYSE:DE), a global manufacturer of agricultural and forestry equipment, construction equipment and engines. Deere's first quarter fiscal 2011 earnings more than doubled to $1.20 per share from the year-ago quarter. The outperformance was largely driven by strong demand for farm machinery coupled with improving conditions in construction and forestry markets.
Deere's worldwide total sales increased 27% year over year to $6.1 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Eaton To Power Virgin A330 Jets

Posted: 05 Apr 2011 11:35 AM PDT

Eaton Corporation (NYSE:ETN) announced that it will supply hydraulic pumps to Virgin Atlantic Airways’ 10 Airbus A330 passenger jets. The supply agreement further strengthens the bond that both companies already share.
Since Eaton already supplies AC motorpumps to Virgin Atlantic Airways' A340 passenger fleet, the latest contract win does not come as a surprise. The components to be supplied by Eaton will provide A330 jets its primary hydraulic power and three AC motorpumps that provide … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Apache Announces Zola-1 Success

Posted: 05 Apr 2011 11:35 AM PDT

U.S. oil and gas explorer Apache Corp. (NYSE:APA) announced positive results from an offshore natural gas site (Zola-1) in Western Australia's Carnarvon Basin, building on the integrated energy company's leading position in this hydrocarbon-rich area.
Situated in the WA-290-P permit area which comprises approximately 119,000 acres, the Zola-1 well encountered 410 feet of net pay at a depth of 13,450-15,100 feet below sea level with excellent reservoir characteristics.
Apache believes that the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down In U.S. Trade

Posted: 05 Apr 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Tuesday.<br/><br/> AUD/USD was trading at 1.0360, down 0.02% at time of writing.<br/><br/> The pair was likely to find support at 1.0289, today&rsquo;s low, and resistance at 1.0417, Monday&rsquo;s high.<br/><br/> Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.16% to hit 1.3746 and AUD/JPY rising 0.66% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

More Subscribers Join America Movil

Posted: 05 Apr 2011 11:05 AM PDT

Telecom giant America Movil S.A.B. (NYSE:AMX) reported that it expects 3.5 million more pay TV customers in 2012 and another 4.5 million in 2013. In Latin America, the company foresees more than double its current 10 million pay television subscriber base by 2013. Recently, the company also reported a 3 million growth in its pay TV subscriber base.
The projected growth in the Pay TV segment emphasizes America Movil's strong focus on expansion plans as it explores new markets and gradually grows … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cuervo Launch

Posted: 05 Apr 2011 11:05 AM PDT

The world's leading tequila brand, Jose Cuervo, has launched a low-fat drink called Jose Cuervo Authentic Light Margarita to be marketed and distributed by Diageo Plc. (NYSE:DEO).
Notably, Diageo had recently been keen on buying Jose Cuervo and had valued the leading tequila brand at $2 billion. The spirit giant may have to compete with companies like Bacardi, Pernod Ricard and Brown-Forman (BF.B) who might be interested in the acquisition of Jose Cuervo. However, Diageo is expected to leave all … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The U.S. Session

Posted: 05 Apr 2011 10:45 AM PDT

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday.<br/><br/> NZD/USD was trading at 0.7687, up 0.06% at time of writing.<br/><br/> The pair was likely to find support at 0.7582, Friday&rsquo;s low, and resistance at 0.7724, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.28% to hit 1.3452 and EUR/NZD falling 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BP To Vend Subsidiary

Posted: 05 Apr 2011 10:35 AM PDT

BP Plc (NYSE:BP) announced that it has agreed to divest its Arco Aluminum subsidiary to a consortium of Japanese companies, as a part of its $30 billion divestiture plan. The transaction is expected to close in the third quarter of 2011.
The consortium led by Sumitomo Light Metal Industries, Furukawa Sky Aluminum, Sumitomo Corporation, Itochu Corporation and Itochu Metals Corporation will acquire the unit for $680 million in cash.
Based in Louisville, Kentucky, Arco Aluminum is a supplier of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

American Public Is Neutral

Posted: 05 Apr 2011 10:35 AM PDT

American Public Education (NASDAQ:APEI) has carved a unique niche for itself in the online post secondary education industry by focusing on recruits serving the U.S. military as well as federal, national, and local law enforcement personnel. Moreover, the company's part-time programs are well suited to irregular and extended work schedules of these personnel who travel and relocate frequently and have limited financial resources. This provides a significant upside potential for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Genworth Launches New Service

Posted: 05 Apr 2011 10:35 AM PDT

Genworth Financial Trust Company, a subsidiary of Genworth Financial, Inc. (NYSE:GNW) launched its Cash Advantage service to provide custody services for the clients of independent financial advisors.
The new service, Cash Advantage – Checking, will help clients to link an investment account to a checking account offered through The Bancorp Bank, wholly owned subsidiary of The Bancorp, Inc. (NASDAQ:TBBK).
The Cash Advantage – Checking Account includes overdraft protection through a linked GFTC … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Oil Is A Very Big Concern For Me”

Posted: 05 Apr 2011 05:30 AM PDT

04/05/11 ICAP’s Kenneth Polcari discusses global fundamentals and crude oil prices, ahead of earnings … [visit site to read more] or compare Best Credit Cards and Best CD Rates

An Afternoon Rally For The Euro

Posted: 05 Apr 2011 10:30 AM PDT

04/05/11 Despite early AM strength for the greenback, the afternoon has seen a rebound for the euro following a decline in ISM services sector … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Emerging Markets ETF Options Fly

Posted: 05 Apr 2011 10:19 AM PDT

Emerging Markets ETF Options Fly
Today’s tickers: EEM, GG, ARUN & XLI
iShares MSCI Emerging Markets Index ETF (EEM) – Options volume on the EEM has topped 525,000 contracts in the first two hours of the trading session after one big emerging-markets bull banked substantial profits on a previously established position, and extended his optimistic view on the fund through May expiration. Shares in the EEM are down one penny on the session to stand at $49.86 as of 11:15am in New York. It … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Pushes Next Target Resistance As BOE Meeting Approaches.

Posted: 05 Apr 2011 10:10 AM PDT

The GBPUSD is pushing against the next resistance at the 1.6297 level. Since November 2010, the price has used the 1.6272-1.6297 area as a point of resistance on a number of different occassions. Twice the price extended higher but only 3 days over the period have had closes above the level. 
The surge higher today on the back of much stronger PMI Services data (57.1 vs 52.6 estimate), has the GBP well supported against all currencies. The BOE meets on Thursday and although the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goodyear Sells Latin American Biz

Posted: 05 Apr 2011 10:05 AM PDT

Goodyear Tire & Rubber Company (NYSE:GT) announced that it has completed sale of its Latin American farm tire business to Titan Tire Corporation, a subsidiary of Titan International Inc. The tire maker announced agreements to sell the Latin American business in December 2010.
The business, valued at $99 million, includes Goodyear's manufacturing plant in Sao Paulo, Brazil, property, equipment and inventories, and a licensing agreement. The licensing agreement will allow Titan to sell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up In U.S. Trade

Posted: 05 Apr 2011 10:00 AM PDT

Forex Pros – The British Pound was higher against the U.S. Dollar on Tuesday.<br/><br/> GBP/USD was trading at 1.6284, up 0.95% at time of writing.<br/><br/> The pair was likely to find support at 1.5973, Friday&rsquo;s low, and resistance at 1.6295, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.92% to hit 0.8734 and GBP/JPY rising 1.62% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Lower; Dax Down 0.00%

Posted: 05 Apr 2011 09:55 AM PDT

Forex Pros – European stocks were down after the closing bell on Tuesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.00%, London&rsquo;s FTSE 100 shed 0.16%, France&rsquo;s CAC 40 declined 0.03% and the EURO STOXX 50 was down 0.17%.<br/><br/> Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.20%; the S&P 500 index gained 0.28%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Summary For Tuesday, April 5, 2011 Special Alert UUP And EUO

Posted: 05 Apr 2011 09:16 AM PDT

We are going to add to our watch list another position in the PowerShares Double US Dollar Index Bullish Fund (symbol: UUP) at the current intra-day price of $21.75 and another position in the ProShares UltraShort Euro (symbol: EUO) at the current intra-day price of $17.70. We have now averaged into these two ETFs seven … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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