Tuesday, April 19, 2011

DailyMarkets.com - NuStar Snaps Up AGE Refining Assets

DailyMarkets.com - NuStar Snaps Up AGE Refining Assets


NuStar Snaps Up AGE Refining Assets

Posted: 19 Apr 2011 10:05 AM PDT

San Antonio-based partnership NuStar Energy L.P. (NYSE:NS) has agreed to acquire certain refining and midstream properties from the bankrupt AGE Refining Inc. for $41 million. The purchase – already cleared by the U.S. Bankruptcy Court – is expected to close shortly. AGE Refining filed for Chapter 11 on February 8, 2010, citing a cash-flow crunch and is currently in the midst of a court-supervised sale process.
As per the deal, NuStar will buy AGE Refining's 14,500 barrel-per-day refinery in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


J&J Beats, Raises Outlook

Posted: 19 Apr 2011 09:55 AM PDT

Johnson & Johnson (NYSE:JNJ) posted first-quarter 2011 earnings (excluding special items) of $1.35 per share, 10 cents above the Zacks Consensus Estimate and 4.7% above the year-ago earnings of $1.29. The company beat expectations despite being hampered by product recalls.
Johnson & Johnson's revenues for the reported quarter increased 3.5% year-over-year to $16.2 billion. Revenues exceeded the Zacks Consensus Estimate of $15.8 billion. Operational factors and foreign exchange movement … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


CEMI Hitting Milestones

Posted: 19 Apr 2011 09:55 AM PDT

Brian Marckx, CFA
CEMI Hitting Milestones

Chembio Diagnostics, Inc (CEMI) continues to make progress in commercializing its Dual Path Platform (DPP) rapid diagnostic tests in both the U.S. and overseas.  A couple of key milestones were recently hit, which included gaining regulatory approval for its DPP rapid test for canine leishmania in Brazil and submitting the first of three PMA modules for FDA approval of their DPP oral fluid HIV test.

Per a technology transfer agreement with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Peabody Starts 2011 In Full Swing

Posted: 19 Apr 2011 09:55 AM PDT

St. Louis-based Peabody Energy Corporation (NYSE:BTU) reported first-quarter 2011 earnings of 67 cents per share, beating the Zacks Consensus Estimate of 60 cents. The company's profits rose 29% from last year's earnings of 52 cents driven by higher global prices and demand for coal.
Revenue
Peabody's quarterly revenue, at $1.744 billion, increased 15% year-over-year on the back of robust Australian coal prices and U.S. volumes. The company's revenue for the quarter was almost in line with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Autodesk Enhances Partner Program

Posted: 19 Apr 2011 09:55 AM PDT

Autodesk Inc. (NASDAQ:ADSK) enhanced several components of its 2011 Autodesk Partner Program in a bid to boost its sales by increasing the capabilities of its global resellers.
Autodesk's global Partner Program was unveiled last year, with the intention of enhancing partner skills and thereby improving customer experience. The program enables resellers to provide better services, products and solutions to customers.
The recently announced enhancements include Platinum Tier, where customers are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: F5 Networks

Posted: 19 Apr 2011 09:55 AM PDT

F5 Networks Inc. (NASDAQ:FFIV) is scheduled to announce its second quarter fiscal 2011 results on April 20, 2011, and we observe both upward and downward movements in analyst estimates.
First Quarter Overview
F5 Networks delivered decent first quarter results, beating the Zacks Consensus Estimate on the bottom line. The quarter's earnings came in at 68 cents, up 88.9% from the year-ago quarter. However, the reported revenue was in line with the Zacks Consensus Estimate.
F5 Networks reported first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Goldman Beats On Fundamentals

Posted: 19 Apr 2011 09:35 AM PDT

The Goldman Sachs Group Inc.'s (NYSE:GS) first-quarter 2011 earnings per share of $4.38 significantly outpaced the Zacks Consensus Estimate of 79 cents.
Including the preferred dividend of $1.64 billion related to the redemption of Goldman's Series G Preferred Stock, earnings per common share came in at $1.56 compared with $3.79 in the prior quarter and $5.59 in the prior-year quarter.
Coupled with the improving economic conditions, the company gained from a solid balance sheet and global … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Badger Meter Reports Weak Quarter

Posted: 19 Apr 2011 09:35 AM PDT

Badger Meter Inc. (NYSE:BMI) reported its first quarter results delivering an EPS of 22 cents, a decline from 36 cents during the year-ago period, falling well behind the Zacks Consensus Estimate of 43 cents.
Badger Meter also reported net sales of $57.4 million; decreasing from $61.8 million in the year-ago quarter and far below the Zacks Consensus Estimate of $69 million. Increase in the sales of manually read water meters and specialty products were not sufficient to offset lower sales of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Widespread Unemployment Declines

Posted: 19 Apr 2011 09:35 AM PDT

Geographically, the decline in unemployment has been widespread, but it still remains very high in most of the country. In March, the unemployment rate fell in 34 states and rose in seven. Relative to a year ago, the unemployment rate is down in 44 states and up in just five. The overall unemployment rate was 8.8% in March, down from 8.9% in February and 9.7% a year ago.

The graph below (from this source) shows the unemployment rate in each state. The red part of the bar shows the current … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Taubman Centers Inc.

Posted: 19 Apr 2011 09:35 AM PDT

Taubman Centers Inc. (NYSE:TCO), a real estate investment trust is scheduled to report its fiscal 2011 first quarter earnings on April 20, 2011, after the closing bell. The current Zacks Consensus Estimate for the first quarter earnings is 58 cents per share, representing a year-over-year decline of about 3.8%.
Fourth Quarter Recap
Taubman reported fourth quarter 2010 FFO (fund from operations) of $59.6 million or $1.06 per share compared with $31.1 million or $0.56 in the year-ago quarter. Fund … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Qualcomm Inc.

Posted: 19 Apr 2011 09:05 AM PDT

Qualcomm Inc.(NASDAQ:QCOM) is slated to release its second quarter 2011 results on Wednesday, April 20, after the closing bell. The current Zacks Consensus Estimate for the second quarter is pegged at 72 cents, representing an annualized growth of 36.60%.
With respect to earnings surprises over the trailing four quarters, Qualcomm has outperformed the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a positive 7.00%, implying that the company has outdone the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Housing Starts, Permits Rise

Posted: 19 Apr 2011 09:05 AM PDT

Housing Starts rose in March to a seasonally adjusted annual rate of 549,000 from 512,000 in February, an increase of 7.2%. Also, the February numbers were revised sharply higher from 479,000, so it is possible to see the increase as 70,000, or 14.6%. Relative to a year ago they are down 13.4%. Quite frankly, a year ago was also a pretty lousy time for homebuilders, so the fall is off a pretty easy comp.

If one looks at only single-family houses, the picture was more or less the same, rising … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


OMC’s 1Q11 Results Surpass Estimate

Posted: 19 Apr 2011 09:05 AM PDT

Omnicom Group Inc. (NYSE:OMC) posted strong operating results for the first quarter of 2011 on April 19.  
During the quarter, Omnicom's net income grew 23.6% year over year to $201.9 million from $163.4 million in the first quarter of 2010. Earnings per share (EPS) expanded by 17 cents from 52 cents in the year-ago quarter to 69 cents in the reported quarter. Reported EPS also beat the Zacks Consensus Estimate of 59 cents.
Total revenue was $3,151.3 million, up 7.9% year over year from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Ten Year Note Yields And The Yield Curve April 19

Posted: 19 Apr 2011 09:02 AM PDT

With the recent talk of US debt, traders have been discussing Treasury Yields and the potential for skyrocketing yields if the AAA Rating of the United States should ever be reduced a rank.
Nevertheless, let's take an updated look at the current 10-Year Treasury Note Yield and then pull the perspective back to what the current "Yield Curve" says about the state of affairs at this moment.
First, the 10-Year Treasury Note Yield Chart:

First things first, the 10-Year Treasury Yield is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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

Posted: 19 Apr 2011 09:00 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4320, up 0.61% at time of writing.<br/><br/> The pair was likely to find support at 1.4157, Monday&rsquo;s low, and resistance at 1.4514, Thursday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.34% to hit 0.8780 and EUR/JPY rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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

Posted: 19 Apr 2011 08:55 AM PDT

Forex Pros – The British Pound was higher against the U.S. Dollar on Tuesday.<br/><br/> GBP/USD was trading at 1.6315, up 0.30% at time of writing.<br/><br/> The pair was likely to find support at 1.6166, Monday&rsquo;s low, and resistance at 1.6384, Thursday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.31% to hit 0.8777 and GBP/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Molina Outperforms, Guidance Avowed

Posted: 19 Apr 2011 08:35 AM PDT

Molina Healthcare Inc. (NYSE:MOH) reported first quarter income from continuing operations of 56 cents per share, which came in substantially ahead of the Zacks Consensus Estimate of 46 cents and 41 cents reported in the year-ago quarter. Net income escalated to $17.4 million from $10.6 million in the prior-year quarter.
Results benefited primarily from higher-than-expected operating revenues coupled with ramped-up enrollment and increased focus on medical costs. This growth momentum was partially … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Chipotle

Posted: 19 Apr 2011 08:35 AM PDT

Fast food restaurant chain, Chipotle Mexican Grill Inc. (NYSE:CMG) is slated to release its first quarter 2011 results on Wednesday, April 20. The current Zacks Consensus Estimate for the first quarter of 2011 is $1.43 per share, representing an annualized growth of 20.6%.
With respect to earnings surprises, Chipotle has outperformed the Zacks Consensus Estimate in all the trailing four quarters in a range of 5.0% to 25.3%. The average earnings surprise was a positive 15.3%. This implies that the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sensient Beats, Guides Higher

Posted: 19 Apr 2011 08:35 AM PDT

Sensient Technologies Corporation's (NYSE:SXT) first quarter 2011 earnings of 53 cents per share surpassed the Zacks Consensus Estimate by a penny and increased 10.4% from 48 cents posted in the prior-year quarter. The better-than-expected results were attributable to strong performance of the Color Group segment.
Total revenue jumped 11.3% year over year to $349.7 million during the quarter. Total revenue was also benefited by the favorable currency impact of 1% 
Quarter Highlights
In the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Falls To Trade Just Above $106

Posted: 19 Apr 2011 08:30 AM PDT

04/19/11 Following Moody’s downgrade to the long-term outlook of US sovreign debt yesterday, frontm onth crude prices have continued their decline today on economic fgrowth uncertainty and crude … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Up During The European Session

Posted: 19 Apr 2011 08:30 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4315, up 0.58% at time of writing.<br/><br/> The pair was likely to find support at 1.4157, Monday&rsquo;s low, and resistance at 1.4514, Thursday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.30% to hit 0.8776 and EUR/JPY rising 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Extortion Politics: Why Won’t American Business Stop The GOP From Threatening To Blow Up The Economy?

Posted: 19 Apr 2011 08:23 AM PDT

As the government approaches its borrowing limit of $14.3 trillion, Republicans are seeking political advantage over what conditions should be attached to raising that limit.

This is a scandal — or should be. Raising the debt limit shouldn't be subject to party politics. Economic extortion should be out of bounds.

It's bad enough government shutdowns have become an accepted part of political negotiation. But failure to increase the amount the Treasury can borrow would have far graver … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Dollar: Under Pressure

Posted: 19 Apr 2011 08:18 AM PDT

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


Big Lots Reorganizes Its Flock

Posted: 19 Apr 2011 08:17 AM PDT

Big Lots Inc. (NYSE:BIG), the largest broad-line closeout retailer recently announced organizational modifications and named John Martin, as the Executive Vice President, Administration and Doug Wurl as the Executive Vice President, Merchandising.
The move is aimed toward enhancing its store operations capacity and escalating its manpower. The improvement in store productivity and the softening of the real estate market prompted management to increase its store openings.
John's appointment came … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: St. Jude

Posted: 19 Apr 2011 08:17 AM PDT

Medical devices giant St. Jude Medical (NYSE:STJ) is slated to report its first-quarter fiscal 2011 results before the opening bell on Wednesday, April 20. In its fourth-quarter 2010 commentary, the Minnesota-based company stated that it expects first quarter adjusted earnings per share of between 77-79 cents. The current Zacks Consensus Estimate for the quarter is 78 cents, representing an estimated 4.16% annualized growth.
With respect to earnings surprise, St. Jude has posted four positive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Freeport-McMoRan

Posted: 19 Apr 2011 08:17 AM PDT

Metals and mining powerhouse Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) announced that it would release its results for the first quarter of 2011 before the market opens on April 20, 2011.
FCX earned a profit of $3.25 per share in the fourth quarter of 2010, outshining the Zacks Consensus Estimate of $2.87 per share. In the upcoming quarter, the Zacks Consensus Estimate for Freeport is pegged at a profit of $1.25 per share, reflecting an annualized growth of 22.62%. The downside potential … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Word From The Floor: Stocks Open Higher

Posted: 19 Apr 2011 08:06 AM PDT

04/19/11 Earnings reports from Goldman Sachs and Johnson & Johnson beat estimates, while US housing data came in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR Rebounds As Risk Appetite Tentatively Returns – Latest On Greek Restructuring

Posted: 19 Apr 2011 08:05 AM PDT

In yesterday's trading session, we saw European equities sliding sharply as a result of worries over Greek debt restructuring, election results from Finland, and a poor debt auction from Spain. These events heightened the risk indicators around the Euro-zone sovereign debt crisis – mainly higher yields for periphery countries debt.
Risk-off trading dominated yesterday's global session with the downgrade of the outlook of the US credit rating by S&P adding to concerns. After the Asian … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: USDCAD Breaks Intraday Trendline As Shorts Tire.

Posted: 19 Apr 2011 08:03 AM PDT

The USDCAD has broken trendline resistance on the intraday chart.  0.9592 is target resistance now.  Stay above the channel … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: GBPUSD Moves Above 200 Hour MA

Posted: 19 Apr 2011 07:41 AM PDT

After staying below the 200 hour MA for most of the day, the price has now moved above the "confirming" MA level.  President Obama speaks at a town hall meeting about the deficit reduction currently and Treasury Secretary Geithner went from CNBC, to Bloomberg, to Fox in rapid succession.
I begin to wonder if the market will get tired of political rhetoric via "town hall meetings" and TV postering and as a result starts to pressure the dollar. Yesterday, the reaction to the S&P … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/JPY Up In European Trading Hours

Posted: 19 Apr 2011 07:40 AM PDT

Forex Pros – The British Pound was higher against the Japanese Yen on Tuesday.<br/><br/> GBP/JPY was trading at 134.58, up 0.09% at time of writing.<br/><br/> The pair was likely to find support at 133.01, Monday&rsquo;s low, and resistance at 137.05, Thursday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.29% to hit 1.6313 and EUR/GBP rising 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sony Ericsson Sees 1Q Profit Drop On Weak Sales & Japan

Posted: 19 Apr 2011 02:30 AM PDT

04/19/11 Handset maker Sony Ericsson said Tuesday that its net profit took a hit on weak sales and disruptions to its supply … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


“A Testament To The Resilience Of Markets”: World Stock Market Capitalization Doubles In Two Years

Posted: 19 Apr 2011 07:27 AM PDT

The Paris-based World Federation of Exchanges, an association of  52 regulated stock market exchanges around the world, recently released data on the world stock market capitalization, which increased to $57.8 trillion in March.  That was a 39-month high for world equity values and the highest level since December 2007 when the U.S. recession started.  Compared to the cyclical low of $26.6 trillion two years ago in February 2009, the total world stock market capitalization has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Is It Getting Time To Buy A House?

Posted: 19 Apr 2011 06:51 AM PDT

Given the recent experience in housing is real estate an asset that should be abandoned? Obviously not but that mentality has grown dramatically within many segments of our nation.
Can you blame people for never wanting to venture back into the real estate market? No. It is understandable but it is not the real estate's fault. The fact is very regrettably far too many people did not fully understand and appreciate the dynamics at work in the real estate market nor did they appreciate the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Travelzest Confirms Takeover Talks

Posted: 19 Apr 2011 01:44 AM PDT

Holidays group Travelzest (LON:TVZ) confirmed this morning that it was at the very early stages of deal talks that could eventually lead to an offer for the company. The Travelzest share price responded with a 12% rise to 16p although the company insisted that there was no certainty that the discussions would result in an offer.

Two and a half years ago Travelzest was at the centre of takeover talks that drove the company's shares to over 100p before the economic climate towards the end of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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