Monday, May 9, 2011

DailyMarkets.com - AutoNation Enhances Share Buyback

DailyMarkets.com - AutoNation Enhances Share Buyback

AutoNation Enhances Share Buyback

Posted: 09 May 2011 09:32 AM PDT

AutoNation Inc. (NYSE:AN) announced that its board of directors has authorized the repurchase of up to an additional $250 million of common stock under its existing share buyback program. This has increased the total authorized amount under the program to $395.9 million.
Last year, the automotive retailer had increased the authorization amount during May and July by $250 million each. In the first quarter of 2011, the company repurchased 1.8 million shares at an aggregate price of $58.8 million, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Williams Partners Lags On EPS

Posted: 09 May 2011 09:32 AM PDT

Williams Partners L.P. (NYSE:WPZ) registered first-quarter 2011 earnings of 81 cents per limited-partner unit, which failed to match up with the Zacks Consensus Estimate of 84 cents. However, the earnings improved almost 33% from the year-ago profit of 61 cents per unit.
Higher natural gas liquid (NGL) margins in its midstream business, higher fee-based revenue as well as an improvement in the gas pipeline business led to the significant year-over-year improvement.
Total revenue increased 6% year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Harmony Drives Growth Strategy

Posted: 09 May 2011 09:32 AM PDT

Harmony Gold Mining Co. Ltd. (NYSE:HMY) recorded net earnings of 8 cents per share in the third quarter ended March 2011, as opposed to last year's loss of 9 cents per share. The company remained committed to its long-term strategy of generating earnings to fund growth.
Gold production reduced 2.0% sequentially to 316,909 ounces. Cash operating costs remained stable at $979 per ounce versus $979 per ounce in the prior sequential quarter due to cost savings, decreased electricity and labour … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: DTS Inc.

Posted: 09 May 2011 09:32 AM PDT

Entertainment technology provider DTS Inc. (NASDAQ:DTSI) is scheduled to announce its first quarter 2011 results after the market closes today.
Shares of DTS plunged 12.4% year-to-date compared to a 5.4% increase in the S&P 500 for the same period. Despite this weakness in the stock, DTS is expected to outperform the Zacks Consensus Estimate for the fifth consecutive quarter, based on strong sales growth.
Currently, the Zacks Consensus Estimate for revenue is pegged at $26.0 million for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Charles River Beats, View Unaltered

Posted: 09 May 2011 09:32 AM PDT

Charles River Laboratories International Inc. (NYSE:CRL) reported first quarter 2011 earnings (excluding special items) of 61 cents per share, above the Zacks Consensus Estimate of 55 cents and year-ago earnings of 45 cents.
Quarterly revenue of $285.8 million was, however, down 2.2% from the prior-year period (down 3.0% excluding positive impact of foreign exchange) due to a decline in Preclinical Services (PCS) segment revenues. Earnings were boosted by lower taxes, share repurchases and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Xerox, Cisco Form Partnership

Posted: 09 May 2011 09:32 AM PDT

Xerox Corp. (NYSE:XRX) and Cisco Systems Inc. (NASDAQ:CSCO) have recently entered into a partnership that will enable the latter to use and offer the former's cloud computing and print products and services on its network equipment. This will enable Cisco to offer more services to its clients, such as telecommunications providers and other large organizations.
The new deal is expected to broaden Cisco's services and hardware portfolio, thus enabling it to compete with its strong competitors namely … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Edwards

Posted: 09 May 2011 09:32 AM PDT

The announcement of Edwards Lifesciences' (NYSE:EW) first quarter fiscal 2011 results as on April 20, 2011, has led analysts to revise  their estimates upwards.
Previous quarter highlights
Edwards reported an adjusted EPS of 51 cents (excluding 2 cents per share of transaction gains) in the first quarter of fiscal 2011, way above the Zacks Consensus Estimate of 42 cents and the year-ago quarter's EPS of 40 cents. The company reported revenues of $404.5 million, up 18.8% from the year-ago … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stoneridge Improves But Misses Ests

Posted: 09 May 2011 09:02 AM PDT

Stoneridge Inc. (NYSE:SRI) posted a more than 50% rise in profit to $2.9 million or 12 cents per share in the first quarter of the year from $1.9 million or 8 cents per share in the same quarter in the previous year. However, the company missed the Zacks Consensus Estimate by 5 cents per share.
The higher profit was attributable to increased production volume, partially offset by operational inefficiencies, higher commodity costs and unfavorable foreign exchange rates.
Sales in the quarter surged … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Beacon Roofing Short Of Ests

Posted: 09 May 2011 09:02 AM PDT

Beacon Roofing Supply Inc. (NASDAQ:BECN) reported a loss of 13 cents per share in the second quarter of fiscal 2011, compared with a penny more in the year-ago quarter and fell short of the Zacks Consensus Estimate of a loss of 8 cents per share.
The lower loss was mainly due to higher sales and gross margins, along with low interest expense, partially offset by higher operating expenses and a lower income tax benefit.
Net sales in the reported quarter amounted to $296.3 million compared with $285.4 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lower Generic Sales Affect Par Revs

Posted: 09 May 2011 09:02 AM PDT

Par Pharmaceutical Companies Inc. (NYSE:PRX) posted earnings of 96 cents per share during the first quarter of fiscal 2011, well above the Zacks Consensus Estimate of 89 cents per share, and the year-ago earnings of 75 cents per share. Higher gross margin helped boost earnings.
Revenues
Quarterly revenues of $233.0 million surpassed the Zacks Consensus Estimate of $229 million but were 20.9% below the year-ago figure of $291.9 million. Lower sales of the company's generic products primarily led … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Regency Reports Mixed Results

Posted: 09 May 2011 09:02 AM PDT

Regency Centers Corporation (REG) reported FFO (funds from operations) of $48.1 million or 56 cents per share in the first quarter of 2011, compared to $48.6 million or 58 cents per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding impairments and other non-recurring items, FFO in the reported quarter was $51.0 million or 59 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Into The Earnings Homestretch

Posted: 09 May 2011 09:02 AM PDT

The first quarter earnings season is almost done. We now have 435 (87.0%) of the S&P 500 reports in. We have enough of a sample now to be pretty sure this will be a good earnings season.

So far, we have income growth of 19.9%. While that is down from the extremely strong 31.4% those same 435 firms posted in the fourth quarter, it is still a very strong growth rate. Almost all of the growth slowdown is from a failure of the Financial sector to repeat the massive growth they posted in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 09 May 2011 09:00 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4300, down 0.12% at time of writing.<br/><br/> The pair was likely to find support at 1.4255, today&rsquo;s low, and resistance at 1.4940, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.06% to hit 0.8753 and EUR/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down Toward The End Of European Session

Posted: 09 May 2011 08:40 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4270, down 0.33% at time of writing.<br/><br/> The pair was likely to find support at 1.4255, today&rsquo;s low, and resistance at 1.4940, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.02% to hit 0.8746 and EUR/JPY falling 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Why The U.S. And China Secretly Want A Devalued U.S. Dollar

Posted: 09 May 2011 08:38 AM PDT

"Expect China to aggressively pursue strategic metal mining companies as part of a little publicized arrangement between the US and the Asian giant."
In early January of 2011, a top secret candlelight dinner was held at the White House. There was no fanfare. Present were the industrial, military and governmental heads of both China and the United States. Our government had just digested the failures of Lehman Brothers, AIG and other corporate icons by creating massive bailouts and running … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

McDonald’s Serves Up Another Sales Figure Increase

Posted: 09 May 2011 08:30 AM PDT

05/09/11 McDonald’s announced Monday that its sales figures for April rose 6% on improved sales of McCafe and breakfast … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Cellular Posts Mixed Results

Posted: 09 May 2011 08:27 AM PDT

United States Cellular Corp. (NYSE:USM), a subsidiary of Telephone and Data Systems Inc. (NYSE:TDS), reported first quarter 2011 earnings per share of 40 cents a penny short of the Zacks Consensus Estimate.  Earnings plunged 26% year over year on subscriber loss due to competitive pricing.
Net income attributable to shareholders declined 28% year over year to $34.1 million in the reported quarter.
First quarter revenues of $1,057.1million surpassed the Zacks Consensus Estimate of $1,042.0 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Household Debts Ratio Are Lowest Since 1990s

Posted: 09 May 2011 08:25 AM PDT

The chart above displays Federal Reserve data on: a) the quarterly household debt service ratio (red line), which is the ratio of debt payments to disposable personal income. Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt; and b) the quarterly financial obligations ratio, which adds automobile lease payments, rental payments on tenant-occupied property, homeowners’ insurance, and property tax payments to the debt service ratio (blue … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 09 May 2011 08:20 AM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 80.72, up 0.11% at time of writing.<br/><br/> The pair was likely to find support at 79.57, Thursday&rsquo;s low, and resistance at 81.19, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.20% to hit 1.4288 and GBP/USD falling 0.26% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: Under Pressure

Posted: 09 May 2011 08:19 AM PDT

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

Japanese Yen: Under Pressure

Posted: 09 May 2011 08:19 AM PDT

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

Euro: Caution

Posted: 09 May 2011 08:19 AM PDT

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

Australian Dollar: The Downside Prevails

Posted: 09 May 2011 08:19 AM PDT

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

Canadian Dollar: Key ST Resistance At 98

Posted: 09 May 2011 08:19 AM PDT

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

British Pound: The Downside Prevails

Posted: 09 May 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

Forex Trading: EURJPY Moves Toward Support At 114.89

Posted: 09 May 2011 08:13 AM PDT

The EURJPY is approaching support at the 114.89 level . This is the 50% of the 2011 low to high trading range. Below that level is the channel trendline at 114.70 and below that the 100 day MA at the 114.19 level. 
On the topside, the 115.57 level is the next target resistance. This is the 38.2% of the move down from the high today.  Stay below this level and the bearish bias should … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

This Week In The GBP: Can BOE Inflation Report Stem Negative UK Datastream?

Posted: 09 May 2011 08:05 AM PDT

Review of Last Week – April Manufacturing, Construction, and Services Reports All Weaker Than Expected
Last week the GBP was on the defensive as incoming data was poorer than expected, painting a weaker picture of the prospects for UK growth, and the USD was stronger amid falling oil other commodities.
In the UK, the report that stung the most was a weak Services PMI report, which fell to 54.3 from April, from 57.1 in March. Expectations had that index falling a smaller amount to 55.8. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morton’s Surpasses Estimates

Posted: 09 May 2011 08:02 AM PDT

Chicago-based Morton's Restaurant Group, Inc. (NYSE:MRT) recently posted first quarter 2011 adjusted earnings of 16 cents, surpassing the Zacks Consensus Estimate of 13 cents and the year-ago quarter earnings of 11 cents per share. The earnings were driven by improvement in business travel resulting in five consecutive quarters of positive comps and margin expansion.
During the quarter, GAAP net income from continuing operation was $2.2 million or 12 cents per share compared with $1.2 million or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earning Scorecard: Citrix Systems Inc

Posted: 09 May 2011 08:02 AM PDT

Citrix Systems Inc (NASDAQ:CTXS) reported blockbuster first quarter 2011 financial results, where both earning per share (EPS) and revenue comprehensively beat the Zacks Consensus Estimate. Global trends toward virtualization and cloud computing facilitated the company's impressive results.
First Quarter Highlights
First quarter 2011 total revenue was $490.9 million, up 18% year over year and was well above the Zacks Consensus Estimate of $475 million.
GAAP net income was $73.5 million or 38 cents … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 09 May 2011 08:00 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Monday.<br/><br/> GBP/USD was trading at 1.6300, down 0.40% at time of writing.<br/><br/> The pair was likely to find support at 1.6271, today&rsquo;s low, and resistance at 1.6575, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8752 and GBP/JPY falling 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Between Trendline Resistance And MA Support Below

Posted: 09 May 2011 07:47 AM PDT

The USDJPY held topside trendline resistance earlier today and has rotated back down to the 100 hour MA support. The pair is unsure of the next directional break and will instead look for the break to confirm the bias. Watch the key levels for clues and look for momentum on a break of either the top or the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/JPY Down During The European Session

Posted: 09 May 2011 07:40 AM PDT

Forex Pros – The British Pound was lower against the Japanese Yen on Monday.<br/><br/> GBP/JPY was trading at 131.31, down 0.49% at time of writing.<br/><br/> The pair was likely to find support at 130.92, Thursday&rsquo;s low, and resistance at 134.26, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.54% to hit 1.6277 and EUR/GBP rising 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DineEquity Tops On Higher Sales

Posted: 09 May 2011 07:37 AM PDT

DineEquity Inc. (NYSE:DIN), operating under the Applebee’s Neighborhood Grill & Bar and IHOP brands, reported first quarter adjusted earnings of $1.42 per share, handily beating the Zacks Consensus Estimate of $1.16 and the prior-year quarter earnings of $1.08. The better-than-expected results were driven by higher sales at Applebee’s. 
Revenues for the quarter under review plunged 16.0% year over year to $300.2 million. However, it surpassed the Zacks Consensus Estimate of $298.0 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Fix Pensions And We Won’t Have To Fire Teachers”

Posted: 09 May 2011 07:36 AM PDT

You do not need to read Sense on Cents to know that many of the states in our union are drowning amidst a sea of future pension obligations. While state treasurers and legislators are all too often inclined to play financial games and utilize smoke and mirrors to disguise the burden of these pension obligations, the absolute figures are so astronomical and will require a meaningful restructuring. Might that happen? Would public employees actually swallow a very real revaluation of their pension … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Trades At New Lows For The Day

Posted: 09 May 2011 07:34 AM PDT

The GBPUSD ha moved sharply lower with the daily trendline support at the 1.6219 and the 38.2% retracement of the move up from the Dec 2010 low to the high coming in at 1.6209 as being major support targeted.
The hourly chart has support coming in at the 1.6254 level. This is the channel support for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Denny’s Misses On Lower Revenue

Posted: 09 May 2011 07:32 AM PDT

America's largest full-service family restaurant chain, Denny's Corporation (DENN) recently reported first quarter 2011 adjusted earnings of 6 cents per share, which missed the Zacks Consensus Estimate by a penny. Lower-than-expected results were due to a slump in revenue.
On a GAAP basis, the company reported net income of $4.1 million or 4 cents per share below the prior-year quarter earnings of $4.6 million or 5 cents per share.
Total revenue dipped 1.3% year over year to $135.8 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves Closer To Next Targets

Posted: 09 May 2011 07:20 AM PDT

S&P downgrade, Greece concerns and comments from Greek officials has the EURUSD back on the defensive and moving toward the next target at the 1.4205 level. This is the 61.8% of the move up from the March 11th low to the high reached last week.

On the 5 minute chart the pair is moving toward support against teh 1.4264 level.  Holding the level could lead to some short covering with the 1.4297 topside trendline resistance (and moving lower). A move above this trendline is needed to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Rebounds, Trades Near $100

Posted: 09 May 2011 07:15 AM PDT

05/09/11 Front month crude prices rebounded to start the new week as the US dollar took an early hit in trading against its higher-yielding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 09 May 2011 01:25 AM PDT

05/09/11 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Equatorial Palm Oil Opens New Mill And Achieves First Sales

Posted: 09 May 2011 01:26 AM PDT

Equatorial Palm Oil (LON:PAL) , the AIM listed palm oil development company with operations in Liberia, has officially opened the country's first commercial palm oil mill following eight months of construction and testing. Sales of crude palm oil began during April and a larger sale tender process is due to be undertaken during May. The Equatorial Palm Oil share price responded with a 3.3% rise to 22.88p.

EPO's palm oil mill at its Palm Bay Estate in Grand Bassa County, was inaugurated by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Investor Sentiment: The Devil Is In The Details

Posted: 08 May 2011 07:45 AM PDT

While the main indicators barely budged week over the week, components used to construct these indicators are starting to head towards extremes.

For example, the “Dumb Money” indicator (see figure 1) looks for extremes in the data from 4 different groups of investors who historically have been wrong on the market: 1) Investors Intelligence; 2) Market Vane; 3) American Association of Individual Investors; and 4) the put call ratio.   This indicator is neutral.  

Figure 1. “Dumb … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
at

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