Friday, April 1, 2011

DailyMarkets.com - Wilmington Remains Neutral

DailyMarkets.com - Wilmington Remains Neutral

Wilmington Remains Neutral

Posted: 01 Apr 2011 08:44 AM PDT

We continue to maintain our long-term "Neutral" recommendation on Wilmington Trust Corporation (NYSE:WL). Though the company has been facing reduced client activity and higher credit costs due to sluggish economic recovery, its impending merger with M&T Bank Corp. (NYSE:MTB) will create a large lender in the eastern U.S., and the combined entity will become a large provider of wealth management.
In November last year, Wilmington had announced that M&T would acquire the company for a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Accuray Lifted To “Outperform”

Posted: 01 Apr 2011 08:44 AM PDT

We upgrade our recommendation on Accuray Incorporated (NASDAQ:ARAY) to Outperform following our assessment of its healthy second-quarter fiscal 2011 results and increased visibility on the stock. We are upbeat about the compelling prospect in radiation oncology rendered by the company's impending acquisition of rival TomoTherapy (NASDAQ:TOMO).
Second quarter earnings per share of 7 cents comfortably beat the Zacks Consensus Estimate of a loss of 2 cents. The company swung to profit in the quarter as a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DOCOMO To Boost Indian Investment

Posted: 01 Apr 2011 08:44 AM PDT

NTT DOCOMO, Inc. (NYSE:DCM), a leading Japanese telecom operator plans to invest $179 million in a rights issue by India's fifth largest telecom operator, Tata Teleservices.
NTT DOCOMO, Inc. is the mobile phone unit of the holding company Nippon Telegraph and Telephone Corporation (NYSE:NTT). Nippon (through its subsidiaries) invested in a number of international telecom operators, both in fixed and wireless. Presently, DOCOMO, the wireless wing of its parent company Nippon, holds a 26% stake in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On Omnicom Group

Posted: 01 Apr 2011 08:44 AM PDT

We recently maintained a Neutral recommendation on Omnicom Group Inc. (NYSE:OMC).
New York-based Omnicom is among the largest advertising, marketing and corporate communication companies in the world. Its services span across four disciplines including traditional media advertising, customer relationship management (CRM), public relations and specialty communications.
Omnicom continues to generate new business wins and acquire complementary companies to expand its client base, around which its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Under Pressure

Posted: 01 Apr 2011 09:20 AM PDT

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: 01 Apr 2011 09:20 AM PDT

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

Forex Trading: EURUSD Moves To Other Extreme

Posted: 01 Apr 2011 09:10 AM PDT

The EURUSD has moved to the other extreme outlined in the Opening Forex Call. The area of resistance was at the 1.4202, 1.4211 and 1.4220 levels. Each represented horizontal resistance or Remembered Lines.
This area should find sellers in the rollercoaster … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD Pares Post-NFP Gains, As Fed’s Dudley Stakes A Claim For Fed Doves

Posted: 01 Apr 2011 09:06 AM PDT

While a stronger than expected non-farm payroll got USD bulls excited, helping the pair to show strong gains versus its key rivals, the USD then reversed its move – especially against the EUR/USD – as Fed President William Dudley gave a dovish speech – a counterweight to all the Fed hawks that had been getting their time in the spotlight this week.
For more on the NFP report, see today's Fundamental Update: NFP Surprises Market to Topside, Boosts Case for Fed Hawks
In his remarks, he … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/JPY Hits 135.00 Target; 138.00 And 140.30 Are Next Above 135.50

Posted: 01 Apr 2011 09:05 AM PDT

GBP/JPY to Consolidate with Further Bullish Prospect Ahead (3/31)
GBP/JPY

Short to Medium Term- The 4H and 1H  chart shows the GBP/JPY agreeing with an impulse wave development. It is most likely that we are entering a wave 3, although the internal count is not clear for me. We don't need to count the internals to see that the market is in a very strong bullish attempt.
- The RSI broke above 70 a couple of times signaling a strong trend.
- If we get a break above the 135.50 pivot we … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Higher Rates Asks AEP Unit

Posted: 01 Apr 2011 09:05 AM PDT

With a view to recover the increasing cost of production and distribution of electricity, American Electric Power Co.’s (NYSE:AEP) unit Appalachian Power filed four rate requests to the Virginia State Corporation Commission (SCC). The total impact of the proposed rate hike, if approved, will be 9.6%, translating to an annual increase of $115 million, and will be effective from 2012.
The monthly bill of a residential consumer using 1,000 kilowatt-hours (Kwh) of electricity in a month will be … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Unilife Begins Initial Production

Posted: 01 Apr 2011 09:04 AM PDT

Unilife Corporation (UNIS) recently announced that it started initial production of its Unifill ready-to-fill (prefilled) syringe at its FDA-approved plant located in York, Pennsylvania. 
The early production run of the Unifill syringe, the only syringe with safety aspects totally integrated inside the glass barrel, will permit the company to speed up its dialogue with over 20 pharma companies. These pharma companies are studying the potential use of the Unifill … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fed Snubs AIG’s Offer To Buy RMBS

Posted: 01 Apr 2011 09:04 AM PDT

Finally, the Federal Reserve Bank of New York (FRBNY) turned down American International Group Inc.'s (NYSE:AIG) offer to repurchase its $15.7 billion residential mortgage-backed securities (RMBS) on Maiden II. This is a special-purpose investment vehicle that the company had handed over to FRBNY as collateral mortgage bonds during the peak of its financial crisis.
The FRBNY has however decided to hold competitive bidding on the RMBS rather than handing them back to AIG. The bidding procedure is … [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: 01 Apr 2011 09:00 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> EUR/USD was trading at 1.4210, up 0.36% at time of writing.<br/><br/> The pair was likely to find support at 1.4027, Monday&rsquo;s low, and resistance at 1.4233, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 216.00K last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 01 Apr 2011 08:55 AM PDT

Forex Pros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> GBP/USD was trading at 1.6124, up 0.60% at time of writing.<br/><br/> The pair was likely to find support at 1.5938, Monday&rsquo;s low, and resistance at 1.6151, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Best CD Rates

15-Mo. Job Growth Returns To Pre-Recession Level

Posted: 01 Apr 2011 08:40 AM PDT

Today’s BLS employment report shows that 1.904 million jobs were created over the last 15 months through March since the cyclical low of 137.96 million jobs in December 2009, see chart above.  That’s the greatest number of jobs created over a 15-month period since November 2007, the month before the recession officially started, and implies that job growth has returned to its pre-recesssion … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will 1970s-Style Inflation Derail The Bull Market In Stocks?

Posted: 01 Apr 2011 08:35 AM PDT

Inflation can adversely affect corporate profits, household discretionary spending, and stock prices. Rising costs for raw materials have a dampening effect on profits. Increasing costs of food and energy begin to account for larger and larger portions of a household's disposable income. From an investment perspective, when the annual inflation rate jumped significantly between 1971 and 1974, stock market (SPY) returns eventually suffered as shown below.

With the Fed creating … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Financial Institutions Exists TARP

Posted: 01 Apr 2011 08:34 AM PDT

On Wednesday, Financial Institutions Inc. (NASDAQ:FISI) stated that it had repaid the remaining $25.0 million in bailout money to the government. In February, the company paid back $12.5 million of the total $37.5 million bailout money that it had received as part of its participation in the government's Troubled Asset Relief Program (TARP) in December 2008.
Financial Institutions financed its TARP repayment primarily through proceeds from a $43.0 million stock offering.
Financial Institutions … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dendreon Remains Neutral

Posted: 01 Apr 2011 08:33 AM PDT

We have maintained our Neutral recommendation on Dendreon Corporation (NASDAQ:DNDN) with a target price of $39.00 following the announcement of fourth quarter and full year 2010 financial results.
Dendreon's fourth quarter 2010 loss of 61 cents per share (excluding loss on debt conversion) was wider than the Zacks Consensus Estimate of a loss of 48 cents per share and the year-ago loss of 31 cents per share (excluding gain for warrant revaluation). On a reported basis (including special items), … [visit site to read more] or compare Best Credit Cards and Best CD Rates

USD/JPY Is Testing Key 84.50 Resistance After March NFP

Posted: 01 Apr 2011 08:31 AM PDT

US Dollar Ahead of the March NFP (3/31 Video)
The Japanese Yen Slides Across the Board (3/30 Video)
USD/JPY

Medium Term- The Daily chart of the USD/JPY shows the market breaking above the 84.50 level. It hasn't actually closed above, but all signs support a break.
-  If the market remains above 84.00 we have a good chance. We should be okay with 83.30 pivot (see 4H chart) holding as support as well. If the market breaks below 82.00, this outlook is no good and a return at least to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rises Above $107

Posted: 01 Apr 2011 08:30 AM PDT

04/01/11 Front month crude prices continued to trade above $107 this session … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The European Session

Posted: 01 Apr 2011 08:30 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> EUR/USD was trading at 1.4180, up 0.15% at time of writing.<br/><br/> The pair was likely to find support at 1.4027, Monday&rsquo;s low, and resistance at 1.4233, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 216.00K last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down On Economic Data

Posted: 01 Apr 2011 08:10 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> GBP/USD was trading at 1.6027, down 0.01% at time of writing.<br/><br/> The pair was likely to find support at 1.5938, Monday&rsquo;s low, and resistance at 1.6151, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Word From The Floor: Wall Street Starts Q2 With Gains

Posted: 01 Apr 2011 02:54 AM PDT

04/01/11 US stocks advanced on the better-than-expected March jobs report. NFP added 216,000 jobs, while unemployment fell to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/USD Has Support Pivot 1.5940 And Resistance Pivot At 1.6060

Posted: 01 Apr 2011 07:42 AM PDT

GBP/USD's Double Bottom and Heavy Throwback (3/31)
GBP/USD

Short Term and Medium Term- The GBP/USD can be developing a head and shoulder seen in the 4H chart. A break below 1.5940 is a signal that the market should continue lower towards 1.5750. We should also see the RSI break back below 40 to confirm the bearish continuation.
- This move has been so far a reaction to the better than expected NFP but the initial reaction does not always tell the direction.
- If the market can rally back … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up In European Trading Hours

Posted: 01 Apr 2011 07:40 AM PDT

Forex Pros – The British Pound was higher against the Japanese Yen on Friday.<br/><br/> GBP/JPY was trading at 135.03, up 1.34% at time of writing.<br/><br/> The pair was likely to find support at 130.29, Monday&rsquo;s low, and resistance at 135.45, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.08% to hit 1.6016 and EUR/GBP falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Squeezes Higher To 100 And 200 Hour MA Area

Posted: 01 Apr 2011 07:35 AM PDT

Anything can happen now with a break above the 200 hour MA.  1.4116 is now support as the trend move down today loses some of its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NFP Surprises Market To Topside, Boosts Case For Fed Hawks

Posted: 01 Apr 2011 07:27 AM PDT

The US labor market continues to improve, as March's job figures came in better than anticipated.
The US economy added 216K jobs for the month, about 20K better than the consensus forecast. The unemployment rate edged down to 8.8% from 8.9%, beating expectations for it to remain steady.
Here's a look at the NFP:

As we can see, the pace of job gains has picked up in the last 2 quarters, with February and March posting the best gains of that period.
The unemployment rate continues … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sen. Lugar Wants To End America’s Sugar Cartel: “It’s A Job-killing, Market-Distorting Monstrosity”

Posted: 01 Apr 2011 07:27 AM PDT

The chart above shows that U.S. sugar prices have averaged twice the world price (28.1 cents per pound vs. 14.4 cents) since 1980 (data here), because of tariffs and quotas that restrict the amount of foreign sugar allowed to enter the U.S. and thereby protect domestic beet sugar producers against more efficient foreign producers of sugar cane.  I’ve estimated before that our sugar policy cost U.S. consumers of sugar $2.5 billion in 2009 and $4.5 billion in 2010.  

Senator … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Headlines: Dollar Surges Against Euro On Jump In NFPs

Posted: 01 Apr 2011 06:31 AM PDT

Fundamental Headlines
• U.S. Employment Situation Summary – BLS
• U.S. Jobless Rate Falls to 8.8 Percent – Financial Times
• Nasdaq, ICE Top Deutsche Boerse With $11.3 Billion NYSE Bid – Bloomberg
• Libyan Defections Raise Hopes as Rebels Struggle – WSJ
• Fed Must Not Be 'Sanguine' On Rate Hikes: Plosser – CNBC
EURUSD: The EUR/USD pair traded in a tight 20-pip range in the overnight session, though plunged this morning as nonfarm payrolls showed that 216,000 jobs were … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Before The Bell

Posted: 01 Apr 2011 01:00 AM PDT

04/01/11 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 Best CD Rates

FinnCap Wakes Up The City With Retail Investor Outreach

Posted: 01 Apr 2011 01:37 AM PDT

FinnCap have been making waves over the last three years since their spinoff from old school private client manager J.M. Finn.   Led by the progressively minded CEO Sam Smith, the broker can now justifiably claim to be the second largest AIM broker with an 80 strong client roster that is growing quickly.  But some revenue streams are getting harder to come by.  Many firms have been reporting results that are suffering from a dwindling of traditional commission based broking … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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