Monday, April 18, 2011

DailyMarkets.com - Forex – EUR/USD Down During The European Session

DailyMarkets.com - Forex – EUR/USD Down During The European Session

Forex – EUR/USD Down During The European Session

Posted: 18 Apr 2011 07:10 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4268, down 1.12% at time of writing.<br/><br/> The pair was likely to find support at 1.4251, today&rsquo;s low, and resistance at 1.4520, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.83% to hit 0.8765 and EUR/JPY falling 1.87% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Roche Delivers Flat Q1 Sales

Posted: 18 Apr 2011 07:06 AM PDT

Roche Holdings Ltd. (RHHBY) recently announced its sales numbers for the first-quarter of 2011. Total revenues for the quarter were $11,815 million, representing a flat growth (in local currencies) over the prior year primarily due to lower-than-expected performance of the Pharmaceutical segment. Excluding the impact of the previously anticipated decline in Tamiflu sales, group sales rose 2%. Sales were slightly above the Zacks Consensus Estimate of $11,757 million.
Geographically, sales were … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nordstrom’s Risk-Reward Balances

Posted: 18 Apr 2011 07:06 AM PDT

We have maintained our long-term ‘Neutral’ recommendation on Nordstrom Inc. (NYSE:JWN) with a target price of $48.00 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term ‘Hold’ rating on the stock.
Nordstrom is one of the leading players in the extremely fragmented specialty retail sector. The company offers a broad array of over 500 brands, targeted toward the entire family, through a strong nationwide network of 204 stores situated across 28 states. The company has a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pratt & Whitney Engine For Spacecraft

Posted: 18 Apr 2011 07:06 AM PDT

Pratt & Whitney Rocketdyne, a United Technologies Corporation (NYSE:UTX) company, has helped position a spacecraft into orbit. The spacecraft is meant for the U.S. government and the company is playing a major role to augment national security.
The space shuttle is powered by the RD AMROSS RD-180 booster engine and the Centaur upper stage is powered by the Pratt & Whitney Rocketdyne RL10 engine.
United Technologies has strong market positions in aerospace/defense and global infrastructure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

S&P Is First Rating Agency To Put US On Notice, “Risk-Off” Trading Dominates

Posted: 18 Apr 2011 06:56 AM PDT

Following an overnight session in which the USD was stronger against its key rivals, it stumbled in NY trading as S&P was the first rating agency to change its outlook to negative for the United States.
The S&P reaffirmed the "AAA" US rating, but the revised outlook means that S&P sees a 1 in 3 likelihood that it could lower the US rating in the next 2 years. S&P cited the lack of a clear path to go forward with addressing cutting the US structural deficits.
Here's part … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down During The European Session

Posted: 18 Apr 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Monday.<br/><br/> NZD/USD was trading at 0.7869, down 1.59% at time of writing.<br/><br/> The pair was likely to find support at 0.7838, Wednesday&rsquo;s low, and resistance at 0.8004, Monday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 1.10% to hit 1.3364 and EUR/NZD rising 0.69% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Halliburton: Another Strong Quarter

Posted: 18 Apr 2011 06:35 AM PDT

Major oilfield services provider Halliburton Co. (NYSE:HAL) reported better-than-anticipated first-quarter 2011 results. This was helped by the strength and sustainability of the all-important North American onshore activity levels (to which the company is heavily exposed through its market-share-leading pressure-pumping business).
Earnings per share, excluding special items, came in at 61 cents, beating the Zacks Consensus Estimate of 58 cents and were comfortably ahead of the year-ago adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Eli Lilly Tops, Maintains Outlook

Posted: 18 Apr 2011 06:35 AM PDT

Eli Lilly (NYSE:LLY) reported first quarter earnings per share of $1.24, 7 cents above the Zacks Consensus Estimate and 5% above the year-ago earnings of $1.18. First quarter results were driven by higher revenues. First quarter revenues increased 6% to $5.8 billion, slightly above the Zacks Consensus Revenue Estimate of $5.7 billion. Revenues were boosted by strong performance in international markets.
Reported earnings, however, declined 16% to 95 cents including the impact of restructuring … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Baxter

Posted: 18 Apr 2011 06:35 AM PDT

Baxter International (NYSE:BAX) is slated to report its first-quarter 2011 results on Thursday, April 21. The current Zacks Consensus Estimate for the quarter is 93 cents, representing an estimated 0.20% annualized decline. 
Fourth Quarter Recap
Baxter reported fourth quarter 2010 adjusted (excluding one-time items) earnings per share of $1.11, beating the corresponding Zacks Consensus Estimates of $1.10 and surpassing the year-ago result of $1.03.
Reported net income dropped 26% year over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Alkermes, Bank Of America, Bronco Drilling Company, Citigroup, Chesapeake Energy, EBay, Finish Line, Johnson & Johnson, Eli Lilly And Company, Merck & Company, Rhino Resources, Inc, Rosetta Resources

Posted: 18 Apr 2011 06:35 AM PDT

 Chesapeake Energy Corp’s. (NYSE:CHK) share prices gained 0.25% after it announced plans to buy Bronco Drilling Co. (NASDAQ:BRNC) for $11 a share. The purchase price represents a 24% premium over Bronco's average 90-day closing price

 A report from Bloomberg cited that eBay Inc. (NASDAQ:EBAY) gains in its bid to grow its business in China

 Share prices of French chip company Sequans Communications (SQNS) fell 17.5% to close at $8.25 on its first day of trading on the New York Stock … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up During The European Session

Posted: 18 Apr 2011 06:25 AM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Monday.<br/><br/> USD/CAD was trading at 0.9642, up 0.52% at time of writing.<br/><br/> The pair was likely to find support at 0.9586, Wednesday&rsquo;s low, and resistance at 0.9669, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.88% to hit 1.4303 and GBP/USD falling 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves To Trendline Resistance On S&P Outlook

Posted: 18 Apr 2011 06:22 AM PDT

The EURUSD moved sharply to channel trendline resistance on the S&P outlook change but found profit taking sellers. The support now comes in at the 1.4302 which was the low from earlier today. A move below that level would be confusing to traders. Look for buyers near this level, but cautious buying as markets are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro: Capped By A Negative Trend Line

Posted: 18 Apr 2011 06:18 AM PDT

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

China Backing Away From Soybean Purchases

Posted: 18 Apr 2011 06:18 AM PDT

Today’s Idea
The potential for increased volatility in the grain markets this summer have many traders nervous about taking on an outright position in Soybean futures. With the current tight Soybean ending stocks and the potential for reduced Soybean acreage, U.S. yields will have to be superb in order to replenish inventories. This scenario could set the stage for sharply higher Soybean prices should it appear that U.S. production will fall short. Some longer-term traders looking for Soybean … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japanese Yen: Under Pressure

Posted: 18 Apr 2011 06:17 AM PDT

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

Japanese Yen: Under Pressure

Posted: 18 Apr 2011 06:17 AM PDT

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

British Pound: Under Pressure

Posted: 18 Apr 2011 06:17 AM PDT

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

Army Weapon Sights From Raytheon

Posted: 18 Apr 2011 06:06 AM PDT

Raytheon Company (NYSE:RTN) has been selected by the U.S. Army for the $68.6 million order to deliver thermal weapon sights for enhanced night vision capabilities to acquire and accurately prosecute targets.
Raytheon is one of the best-positioned companies among the large-cap defense players because of its non-platform-centric focus. The company's strong balance sheet provides financial flexibility in matters of incremental dividend, ongoing share repurchases and earnings accretive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Progressive Beats On Higher Premium

Posted: 18 Apr 2011 06:06 AM PDT

Progressive Corp.'s (NYSE:PGR) earnings per share for first quarter 2011 were 55 cents, beating the Zacks Consensus Estimate by 12 cents. Results were 11 cents ahead of year-ago earnings of 44 cents. Net income was $362.9 million, increasing 23% from the year-ago quarter.
The company recorded net premiums of $3.9 billion in the first quarter of 2011, up 3% from $3.8 billion in the year ago. Net premiums earned were $3.7 billion, up 5% from $3.5 billion in the year-ago period.
Net realized gains … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Valmont Beats Consensus

Posted: 18 Apr 2011 06:05 AM PDT

The first-quarter 2011 net earnings of Valmont Industries, Inc. (NYSE:VMI), a leading producer of engineered products, increased 56.5% to 97 cents per share from last years' 62 cents per share, surpassing the Zacks Consensus Estimate of 95 cents.
Cost of sales climbed 61.8% to $431.5 million in the quarter.
Quarterly revenues, however, jumped 55% year over year to $568.0 million, modestly beating the Zacks Consensus Estimate of $540 million. The first quarter results were driven by a significant … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Before The Bell

Posted: 18 Apr 2011 06:00 AM PDT

04/18/11 The latest in news, commentary, and information on what’s moving the US equities markets prior to the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Down During The European Session

Posted: 18 Apr 2011 06:00 AM PDT

Forex Pros – The Euro was lower against the Swiss Franc on Monday.<br/><br/> EUR/CHF was trading at 1.2827, down 0.40% at time of writing.<br/><br/> The pair was likely to find support at 1.2816, today&rsquo;s low, and resistance at 1.3045, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 1.12% to hit 1.4268 and EUR/JPY falling 1.43% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP Forms Head And Shoulder And Challenges Channel Support

Posted: 18 Apr 2011 05:51 AM PDT

Head and Shoulder Forming; 0.8715 is Key Pivot (4/15)
EUR/GBP
Short-term- The 1H chart shows the EUR/GBP break below the 0.8800 neckline. The break below the 200SMA was also clean.
- The weak bond auctions in the Eurozone did put pressure on the euro across the board.
- The momentum is bearish in the 1H chart, and the bullish momentum in the 4H chart has been broken.
- The 4H RSI reading is threatening 30, a break below which confirms a pending break of a rising channel seen in the 4H chart.
- … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Monday Links

Posted: 18 Apr 2011 05:51 AM PDT

1. The Lost Beatles Photos: Rare Shots From 1964-1966.

2. Sales tax receipts rise in metro Chicago, signaling retail revival.

3. There is an active trade for Apple's latest gadgets in China, and it's evident in long lines of Chinese camping overnight outside NYC Apple's stores waiting to buy the products — originally made in China — to send them back to that country for resale. 

  
4. In a blind taste test, most people are unable to distinguish between expensive and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Tests Last Weeks Lows At 92.94 On Correction Off 100 Day MA

Posted: 18 Apr 2011 05:48 AM PDT

The USDJPY is back off lows after testing the 100 day MA at the 82.70 level earlier today (low reached 82.64).  The move higher is testing the first logical target which comes in at the 92.94 level. This was the lows from last weeks trading (Thursday and Friday trade). Above that comes resistance at the 83.25 which corresponds with the 38.2% of the move down from the April 13th high.  This would be a modest correction of the larger move down which started on April 6th  … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Foreign Securities Purchases Rise Less-than-expected

Posted: 18 Apr 2011 05:45 AM PDT

Forex Pros – ign investment in Canada rose less-than-expected last month, official data showed on Monday.<br/><br/>In a report, Statistics Canada said that Canadian foreign securities purchases rose to a seasonally adjusted 2.50B, from 13.37B in the preceding month whose figure was revised up from 13.29B.<br/><br/>Analysts had expected Canadian foreign securities purchases to rise 11.23B last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Televisa Underperforms In 1Q11

Posted: 18 Apr 2011 05:36 AM PDT

Grupo Televisa S.A.B. (NYSE:TV), the largest integrated cable and media company in Mexico, reported first quarter of 2011 financial results, which fell below the Zacks Consensus Estimates. The company announced that it lost considerable advertisement revenue from Carlos Slim's businesses including AmericaMovil S.A.B. de C.V. (NYSE:AMX), Telefonos de Mexico S.A.B. (NYSE:TMX), and Grupo Carso.   
Quarterly consolidated net income was approximately $73 million, down 17.8% year over year. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR Stumbles On Greece Restructuring, Finland Elections, Spanish Auction

Posted: 18 Apr 2011 05:21 AM PDT

We begin this week in a mood of risk aversion, with the Euro in particular being sold off on a fresh round of concerns regarding the sovereign debt crisis, more specifically the fear of Greece needing to do a debt restructuring.
Rumors continue to build that the Greek government is indeed seeking a debt restructuring. Last week we heard from German Finance Minister that the Greek debt load may be unsustainable and a voluntary debt restructuring prior to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD’s ACB Correction Scenario

Posted: 18 Apr 2011 05:03 AM PDT

GBP/USD Weekly Outlook – Terminal Wave to Confirm Bullish Structure (4/15)
GBP/USD
Short- term- There are a couple of scenarios suggested by the decline to start the week.
- We are either in a deep retracement of last week's rally, and is going to continue higher to complete a wave (5). This suggests (4) ended last week at 1.6230. The market therefore needs to remain above that to satisfy this bullish count.
- Another scenario is a break below 1.6230, and a slide towards 1.6180, a swing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/GBP Down During The European Session

Posted: 18 Apr 2011 05:00 AM PDT

Forex Pros – The Euro was lower against the British Pound on Monday.<br/><br/> EUR/GBP was trading at 0.8774, down 0.72% at time of writing.<br/><br/> The pair was likely to find support at 0.8774, today&rsquo;s low, and resistance at 0.8924, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 1.06% to hit 1.4277 and EUR/JPY falling 1.37% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD In A Reversal From 1.4520; Rising Channel Contains The Weakness

Posted: 18 Apr 2011 04:33 AM PDT

2009 High to be Tested after Flat Resolution (4/15)
EUR/USD
Short-Term- The EUR/USD did not continue rallying after the consolidation as anticipated. After the expected decline on Friday, the market did not complete a 5-wave flat and continue north. Last week's themes might continue this week to pressure the EUR/USD.
- Instead the market broke below the sideways support see in the 1H chart. The 4H chart shows resemblance of a head and shoulder. Whatever the chart pattern might appear, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Desire Petroleum Hit By Another Well Disappointment In The Falklands

Posted: 18 Apr 2011 01:07 AM PDT

Shares in Desire Petroleum (LON:DES) slumped this morning on news that the final well in the company's current drilling campaign in the Falkland Islands had failed to turn up anything meaningful for investors. Drilling has been under way on the Ninky prospect since the end of March and while oil shows were apparent during the process, the well is now set to be plugged and abandoned after failing to make a discovery. Desire now has around $37m to fund is share of the rig costs and a 3D seismic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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