Thursday, April 14, 2011

DailyMarkets.com - Sempra In A Bunch Of Green Projects

DailyMarkets.com - Sempra In A Bunch Of Green Projects


Sempra In A Bunch Of Green Projects

Posted: 14 Apr 2011 10:05 AM PDT

San Diego Gas & Electric (SDG&E), a subsidiary of Sempra Energy (NYSE:SRE), has entered into two solar power purchase agreements, for 25 years each, for a total of 80 megawatts (MW) of electricity. It has also revised its agreement to buy power from NaturEner's Rim Rock wind farm project in Montana.
Under the first 25-year contract with subsidiaries of Sol Orchard LLC, SDG&E will purchase up to 50 MW of locally produced solar energy. Under the agreement, 21 individual, ground-mounted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: L-3 Communications Holdings Inc.

Posted: 14 Apr 2011 10:05 AM PDT

L-3 Communications Holdings Inc. (NYSE:LLL) is scheduled to report its first quarter 2011 earnings results before market opens on April 21. The Zacks Consensus Estimate for the first quarter is earnings of $1.82 per share, down from $1.87 earned in the year-earlier quarter.
For full year 2011, the Zacks Consensus Estimate stands at $8.42 per share, representing a 0.94% increase from the prior-year earnings of $8.35 per share. The full year 2012 earnings estimate is currently $8.88 per share.
In … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Up In U.S. Trade

Posted: 14 Apr 2011 10:00 AM PDT

Forex Pros – The British Pound was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.<br/><br/> GBP/USD was trading at 1.6350, up 0.50% at time of writing.<br/><br/> The pair was likely to find support at 1.6228, Tuesday&rsquo;s low, and resistance at 1.6426, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Markets Close Lower; Dax Down 0.44%

Posted: 14 Apr 2011 09:55 AM PDT

Forex Pros – European stocks were down after the closing bell on Thursday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.44%, London&rsquo;s FTSE 100 shed 0.78%, France&rsquo;s CAC 40 declined 0.89% and the EURO STOXX 50 was down 1.09%.<br/><br/> Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 0.01%; the S&P 500 index shed 0.11%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Fundamental Wrap-Up: US PPI, Jobless Claims, CAN Manufacturing Shipments, Car Sales

Posted: 14 Apr 2011 09:43 AM PDT

US Core Producer Prices Rise More Than Expected:
Producer prices showed an interesting result in March. The headline PPI rate came in cooler than expected at 0.7% on the month, compared to 1.6% in February. The consensus forecast was for a 1.0% climb.

However, if we look at the underlying "core" rate of PPI, it rose 0.3%, faster than February's 0.2%, and beating expectations of a similar 0.2% climb in March. In the red box above, we see the gray bars show 4 straight months of modest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NVS’ Afinitor Gets FDA Panel Backing

Posted: 14 Apr 2011 09:35 AM PDT

Novartis (NYSE:NVS) recently received a positive recommendation from an advisory panel of the US Food and Drug Administration (FDA) for expanding the use of its renal cancer drug Afinitor. The approval is sought for the treatment of patients with advanced neuroendocrine tumors (NET) of pancreatic origin, a rare form of pancreatic cancer.
The positive recommendation was based on data from the RADIANT-3 trial which demonstrated that Afinitor led to a statistically significant improvement in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Dollar: Under Pressure

Posted: 14 Apr 2011 09:19 AM PDT

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


Canadian Dollar: The Downside Prevails

Posted: 14 Apr 2011 09:19 AM PDT

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


Japanese Yen: Caution

Posted: 14 Apr 2011 09:19 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: 14 Apr 2011 09:18 AM PDT

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


Euro: Capped By A Negative Trend Line

Posted: 14 Apr 2011 09:18 AM PDT

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


Swiss Franc: Under Pressure

Posted: 14 Apr 2011 09:18 AM PDT

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


Baxter Launches Fresh Initiative

Posted: 14 Apr 2011 09:10 AM PDT

To mark World Hemophilia Day, Baxter International (NYSE:BAX) recently reiterated its determination to maintain the standard of care and ensure adequate access to treatment for victims of hemophilia and other bleeding disorders. The company is extending its hand to the World Federation of Hemophilia ("WFH") to start Advocacy in Action, a creative, multi-year project to assist nations play an advocacy role for victims of bleeding disorders.
Baxter is funding this initiative with a grant. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


UFPI’s 1Q11 Results Below Consensus

Posted: 14 Apr 2011 09:05 AM PDT

Universal Forest Products Inc. (NASDAQ:UFPI) reported its financial results for the first quarter 2011 on April 13. Net earnings were a loss of 19 cents per share compared with a 5 cent per share gain in the year-ago quarter. Results were below the Zacks Consensus Estimate of 1 cent per share gain in the quarter.
Revenue
Universal Forest's top line in the first quarter plummeted 1.5% year over year to $387.2 million versus $393.0 million in the year-ago quarter and below the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Big Rounded Arc Playing Out On SP500 April 14

Posted: 14 Apr 2011 09:04 AM PDT

There's a large-scale (from the perspective of the intraday chart) "Rounded Reversal" or "Price Arc" pattern playing out in the stock market right now, which is one of my favorite patterns.
Let's take a look at the current "arc" structure and note two levels of Fibonacci Retracements to watch as the Arc continues.

I've been tracing out this pattern each night in the Daily Member Reports and wanted to update you on this pattern and the current levels to watch.
First, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Thursday Links

Posted: 14 Apr 2011 09:04 AM PDT

1. No work yet in oil patch, but you're hired. Canada's oil patch is resorting to increasingly unusual measures to secure workers ahead of a coming labor shortage, with one company hiring engineers before work is available.

2. The latest victim of Mexico’s War on Drugs in Mexico: the lime. (Thanks to Paul Kedrosky for these two items above.)

3. College librarians warm up to former enemy Wikipedia.  

4. South Korea’s antidote to inflation: free text messages. 

5. Here’s an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


USD/CHF Threatens Fresh Record Lows; 0.8990 Holds Pivot For Correction

Posted: 14 Apr 2011 08:55 AM PDT

Forex Notes: CHF-Strength Assessment…(4/12)
USD/CHF
Wave Count and Possible Correction Rally:
- After a failure to break above 0.93, the USD/CHF has channeled down towards the record low of 0.8859.
- The ability to form a declining channel suggests we are in a bearish impulse wave. In these structures, the market can easily extend further in the channel, making the current decline still part of and extended wave (iii).
- However,  the count at the moment can also be a completed impulse … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Foreclosures Dwindle In 1Q

Posted: 14 Apr 2011 08:35 AM PDT

On Wednesday, the leading online marketplace of foreclosure properties, RealtyTrac, revealed that foreclosure filings fell to a 3-year low in the first quarter of 2011. A total of 681,153 properties were slammed with notices of default, auction or repossession in the reported quarter, which marked a drop of 15% from the prior quarter and 27% from the year-ago quarter.
Foreclosures tumbled during the first three months of 2011 as the lenders were facing inquiry for flawed paperwork and faulty … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Qualcomm Wins Chinese Contract

Posted: 14 Apr 2011 08:26 AM PDT

The leading global manufacturer of mobile phone chipsets, Qualcomm Inc. (NASDAQ:QCOM) recently won a contract from Chinese hand set maker, Zoom Technologies Inc. (NASDAQ:ZOOM). As per the deal, Zoom Technology will install Qualcomm chipsets into their 3G-based hand sets by paying the universal rate of royalties to Qualcomm
With the growing popularity of 3G wireless services, the demand for 3G-based smartphones will increase. Zoom Technology, in order to seize this massive opening, has tied up with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


PC Sales Drop In 1Q

Posted: 14 Apr 2011 08:26 AM PDT

The overall Personal Computer (PC) market is witnessing a downward trend, as elucidated by a year-over-year decline of 1.1% in PC shipments to 84.3 million during the first quarter of 2011. Technology research firms, IDC and Gartner unanimously confirmed the fact that there was a drop in PC sales compared with the year-ago quarter. The main reason behind the declining PC sales is the growing popularity of Apple's (NASDAQ:AAPL) iPad, which continues to take significant market share from the PC and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


IPhone 4 Goes White

Posted: 14 Apr 2011 08:22 AM PDT

Reportedly, Apple Inc. (NASDAQ:AAPL) is set to launch the white version of iPhone 4 in the coming weeks, after a delay of 10 months since the black iPhone 4 was launched in June 2010.
Apple mentioned a range of manufacturing snags, from faulty sensors to flawed cover paints that peeled under heat, for the 10-month delay. Supposedly, the manufacturing faults have now been repaired.
The new version of iPhone 4 will be available from AT&T Inc. (NYSE:T) and Verizon Wireless, a subsidiary of Verizon … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


IBM Inks Tech Deal With Hartford

Posted: 14 Apr 2011 08:22 AM PDT

Information Technology (IT) giant International Business Machines Corp. (IBM) recently inked a new five-year technology services deal with insurance and wealth management company, Hartford Financial Services Group Inc. (HIG).
Under the terms of the agreement, IBM will provide IT infrastructure support and services in order to streamline Hartford's IT operations.
Hartford will shift its virtual desktop structure to IBM's Smart Business Desktop Cloud Solution. IBM's Smart Business Desktop … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Harman Receives Additional Contract

Posted: 14 Apr 2011 08:22 AM PDT

A developer of audio products and electronic systems, Harman International Industries Inc. (NYSE:HAR) announced that it has won an additional contract from Volkswagen AG (VLKAY) to provide premium high infotainment solutions for Volkswagen Group brands including Audi, SEAT, Skoda and Volkswagen for Asian markets beginning 2013.
Previously, in the second quarter of 2011 (ended December 31, 2010), Harman received a $1.2 billion contract from Volkswagen Group to provide high infotainment solutions … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Initial Jobless Claims Jump

Posted: 14 Apr 2011 08:22 AM PDT

Initial Claims for Unemployment Insurance jumped by 27,000 last week to 412,000. However, last week was revised up by 3,000, so one could see it as a 30,000 increase. This was much worse than the expected level of 385,000.

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. This week is a big bump. Let us hope the decline resumes next week.

Like the weather, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


“WAMU Loan Fraud Should Have Been Easily Detected”

Posted: 14 Apr 2011 08:16 AM PDT

I have long believed and written extensively that I thought our nation experienced extensive fraud in the mortgage origination industry. That fraud was then conveyed throughout our markets and economy via the securitization process on Wall Street. Many people, divisions, departments and firms profited along the way while regulators were negligent, incompetent, or both.
While only a select few individuals in the mortgage origination industry have paid any type of price for engaging and promoting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Word From The Floor: US Stocks Lower At Open

Posted: 14 Apr 2011 03:00 AM PDT

04/14/11 Stocks opened lower, following a spike in jobless claims and an increase in core PPI. IPOs dominated the open, with Arcos Dorados and Zipcar both pricing above its expected … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Posts Slight Slide, Still Near $107

Posted: 14 Apr 2011 08:00 AM PDT

04/14/11 Front month crude prices did post a slight dive this session as investors clash between a decline in gasoline supplies and beliefs recent gains have been … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Peter Thiel On The Higher Education Bubble

Posted: 14 Apr 2011 07:57 AM PDT

From a TechCrunch interview with  Peter Thiel (PayPal co-founder, hedge fund manager and venture capitalist) that starts with the warning: “This article will piss off a lot of you.”

“For Thiel, the bubble that has taken the place of housing is the higher education bubble (see chart above). 

"A true bubble is when something is overvalued and intensely believed," he says. "Education may be the only thing people still believe in in the United States. To question education is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Down Vs. Rivals After Disappointing U.S. Data

Posted: 14 Apr 2011 07:48 AM PDT

Forex Pros – The U.S. dollar was down against all of its major rivals on Thursday, after official U.S. data showed an unexpected increase in U.S jobless claims last week, and a separate report said producer price inflation rose less-than-expected in March.<br /><br />During early U.S. trade, the greenback was down against the euro, with EUR/USD gaining 0.21% to hit 1.4473.<br /><br />Earlier in the day, the cost of insuring Greek government debt against default surged … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold And Silver Soars As U.S. Dollar Crumbles

Posted: 14 Apr 2011 07:46 AM PDT

Gold broke out of its 6 month consolidation and cup and handle pattern. The gold bulls are now in control and short covering should begin to cause an explosive move to my late January target of $1600 on gold and $40 on silver. In late January, gold and silver were in a sell-off and many were predicting lower prices as moving averages were broken. Now we are on our way to the January target in gold of $1600. Many ask what to do as they sit on hefty gains. I have learned through many years of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sluggish Demand Hurts Hasbro

Posted: 14 Apr 2011 02:30 AM PDT

04/14/11 Toy company Hasbro Incorporated took a 1Q profit hit on sluggish demand and higher … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Pound Higher Vs. Dollar After Rise In U.S. Jobless Claims

Posted: 14 Apr 2011 07:26 AM PDT

Forex Pros – The pound was up against the broadly weaker U.S. dollar on Thursday, after U.S. government data showed that U.S jobless claims rose unexpectedly last week, while producer price inflation rose less-than-expected in March.<br /><br />GBP/USD hit 1.6364 during early U.S. trade, the pair&rsquo;s highest since April 11; the pair subsequently consolidated at 1.6341, gaining 0.45%.<br /><br />Cable was likely to find support at 1.6236, Wednesday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Three Bombed Out Chinese AIM Stocks – Ben Graham Bargains Or Value Traps?

Posted: 14 Apr 2011 04:09 AM PDT

Back in 2006-2007, many private investors had it easy.  The markets were on a tear and UK investors were benefiting from a boom in new flotations on AIM.  Amongst them were a ream of Chinese listings which were attracted to AIM in order to raise growth capital.  These included the glamour stock Renesola (LON:SOLA) , a solar wafer company which proceeded to sextuple over about 18 months amongst much decadent howling from private investors on the bulletin boards.  Of course it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Nautilus Minerals Agrees Strategic Tie-up For Production Vessel On Solwara-1 Project

Posted: 14 Apr 2011 03:09 AM PDT

Nautilus Minerals (LON:NUS) , the mining company with plans to produce copper and gold from the seafloor off Papua New Guinea, said this morning that it had taken a major step forward, with the formation of a strategic partnership with German shipping company Harren amp; Partner. The two sides intend to set up a joint venture company that will own and operate a production support vessel which will serve as the operational base for Nautilus to run its first development project, Solwara 1, in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Glencore Set To Join FTSE 100 As IPO Targets $11 Billion

Posted: 14 Apr 2011 01:45 AM PDT

Glencore, the huge international commodities group, said this morning that its long-awaited initial public offering in London would aim to raise between US$9bn and $11bn. Talks with the FTSE are understood to have cleared the way for the company to dive straight in to the FTSE 100 index of leading shares – the first company to do that in 25 years and only the third company ever to do so. Ex-BP boss Tony Hayward has been named at a senior independent director on the Glencore board.

Glencore … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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