DailyMarkets.com - CNOOC Sells Qatar Block Stake

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• CNOOC Sells Qatar Block Stake
• Fiat’s Stake In Chrysler To Hit 57%
• Bearish On Sunoco’s Future
• Earnings Scorecard: Vodafone
• Hot Option Plays: Dollar Weak, Market Pops
• Stalking GBP/USD In A Correction After A 5-Wave Rally
• Forex – AUD/USD Down In U.S. Trade
• Jamba Enhances Beverage Line
• BHI: 1847 Domestic Rigs At Work
• SanDisk Riding High On SSDs
• Forex – NZD/USD Up During The U.S. Session
• Forex Trading: USDCHF Outside Day, Higher Close, But Still Looking For That Stronger “reason” To Feel Good About Buying
• Earnings Preview: VeriFone
• CVS Beats Medco To Win PBM Deal
• Caterpillar Offers Euro Notes
• WFC To Acquire Castle Pines Capital
• OmniVision Posts Decent Q4
• Natural Gas Supplies Up By 105 Bcf
• Gold And Silver Set To Rebound
• Sallie Mae Upped To Outperform
• Central Bank Of Kenya Lifts Interest Rate 25bps To 6.25%
• Dollar Decline Continues On Weak Data
• Forex – GBP/USD Down In U.S. Trade
• Boston Scientific Recalls Catheters
• NNN Closes New Credit Facility
• European Markets Close Higher; Dax Up 1.86%
• Positive Outlook From LDK Chief Boosts Solar Stocks And Options
• India’s Economy Grows At Slowest Pace In Five Quarters
• Railway Revolution Builds China’s Consumer Culture

CNOOC Sells Qatar Block Stake Posted: 31 May 2011 11:35 AM PDT CNOOC Ltd. (NYSE:CEO) will divest a 25% stake in its Qatar’s Block BC (pre-Khuff) offshore exploration license to TOTAL SA (NYSE:TOT). The transaction will be carried out through a subsidiary, CNOOC Middle East (Qatar) Ltd. for an undisclosed amount. The Block BC, located about 130 kilometers east of the Qatari coast, covers an area of 5,649 square kilometers, with water depths ranging from 15 to 35 meters. CNOOC Middle East will continue to enjoy operatorship of the offshore block with 75% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fiat’s Stake In Chrysler To Hit 57% Posted: 31 May 2011 11:35 AM PDT Italy's Fiat SpA (FIATY) announced that it will purchase the remaining 6% stake of U.S. government in Chrysler by the end of this year. With this, Fiat's ownership interest in Chrysler would go up to 57%. After the repayment of $7.5 billion in government loans by Chrysler, Fiat's ownership in the former shot up from 30% to 46% last week. The Italian automaker expects to gain an additional 5% stake in Chrysler during the fourth quarter on building a fuel-efficient car for the latter. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bearish On Sunoco’s Future Posted: 31 May 2011 11:25 AM PDT Sunoco Inc's (NYSE:SUN) stock price has been on a downswing following the 52-week high of $46.98 reached on April 6, 2011. The oil refiner and marketer has seen its share price fall approximately 15% during this period, as investors have been selling the stock for its weak fundamentals and tepid outlook. The disappointing first quarter results have added to this bearishness. Sunoco, which competes in the Oil Refining and Marketing industry with firms like Valero Energy Corp. (NYSE:VLO) and Tesoro … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Vodafone Posted: 31 May 2011 11:25 AM PDT Vodafone Group Plc (NYSE:VOD), the largest revenue generating international wireless carrier, reported fiscal 2011 results on May 17. Adjusted earnings per share missed the Zacks Consensus Estimate but improved from the year-ago earnings. Fiscal 2011 Review Since the last downturn, Vodafone has returned to solid organic revenue growth and gained share in the majority of its markets. Vodafone recorded broad-based improvements in its operations and made strategic progress over the year. Among the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Dollar Weak, Market Pops Posted: 31 May 2011 11:18 AM PDT Cusick’s Corner If you are trading headlines then this is your market. If you are trading data, well this is a frustrating time. The market has rallied with the weakness in the buck which has been attributed to the rhetoric that the Germans potentially might soften the Greek austerity plan. While it looks like the EU is taking a printing page out of the Fed’s playbook, we will have to watch if this printing results in the potential assault on the buck. The other plus for the bulls is that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stalking GBP/USD In A Correction After A 5-Wave Rally Posted: 31 May 2011 11:15 AM PDT GBP/USD Finally Slows Down Momentum at 1.65 for Possible Correction (5/30) GBP/USD Short-Term- The GBP/USD rally has been impressive. The 1H chart sees this bring the RSI above 70, but now we are seeing it fall below 40, a sign that it has lost its bullish momentum in the short-term. Still in the medium term, the ability to break above 70 suggests there can be a bullish attempt following the current bearish correction. - The structure supports the case for further bullish attempt especially … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade Posted: 31 May 2011 11:15 AM PDT Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Tuesday after the release of U.S. data on Chicago PMI.<br/><br/> AUD/USD was trading at 1.0660, down 0.29% at time of writing.<br/><br/> The pair was likely to find support at 1.0511, Thursday&rsquo;s low, and resistance at 1.0757, today&rsquo;s high.<br/><br/> Earlier in the day, data showed that The U.S.&rsquo;s Chicago PMI fell more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jamba Enhances Beverage Line Posted: 31 May 2011 11:05 AM PDT Jamba Inc. (NASDAQ:JMBA) continues to innovate its beverage lines and is ready to make good business this the summer season with its latest Fruit Refreshers with coconut water. The new natural hydrating beverage platform was launched in three flavors –– Pineapple, Strawberry Lemonade and Tropical Mango –– and will available in over 700 stores. In addition to this beverage line, Jamba also announced the expansion of the very popular Whirl'ns Frozen Yogurt. This line of frozen yogurt treats … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BHI: 1847 Domestic Rigs At Work Posted: 31 May 2011 11:05 AM PDT In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE:BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the tally of land rigs. In particular, there were more rigs drilling for oil than gas for the sixth week in a row as the companies look to capitalize on soaring oil prices, which are currently trending at around $100 a barrel. The Baker Hughes rig count, issued since 1944, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SanDisk Riding High On SSDs Posted: 31 May 2011 11:05 AM PDT SanDisk Corporation (NASDAQ:SNDK) recently inked a deal with ASUSTeK Computer Incorporated. Financial terms of the deal were not disclosed. Popularly known by its brand name ASUS, ASUSTeK Computer manufactures motherboards, laptops, servers and mobile phones. The company also produces components for other manufacturers, including Dell Inc. (NASDAQ:DELL), Falcon Northwest, Hewlett-Packard Co. (NYSE:HPQ) and Apple Inc. (NASDAQ:AAPL). Under the terms of the deal, ASUS will use SanDisk's recently launched U100 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up During The U.S. Session Posted: 31 May 2011 10:45 AM PDT Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on CB Consumer Confidence.<br/><br/> NZD/USD was trading at 0.8235, up 0.87% at time of writing.<br/><br/> The pair was likely to find support at 0.7967, Thursday&rsquo;s low, and resistance at 0.8264, today&rsquo;s high.<br/><br/> Earlier in the day, data showed that CB consumer confidence in the U.S. fell unexpectedly to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Outside Day, Higher Close, But Still Looking For That Stronger “reason” To Feel Good About Buying Posted: 31 May 2011 10:40 AM PDT The USDCHF is off the low and up slightly on the day.  There is a lower low and a higher high on the daily chart. Admittedly it was a 'holiday' yesterday which limited the move, but a higher close to day would be a key reversal for the pair.  What I would like to see between now and the close is if the price can move above the "old" low for the month of May.  That level was reached on May 4th at the 0.8552 level.  If done, it would help confirm and legitimatize the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: VeriFone Posted: 31 May 2011 10:40 AM PDT VeriFone Systems Inc. (NYSE:PAY) is expected to report its second quarter fiscal 2011 earnings after the market closes on Thursday, June 2, 2011. VeriFone Systems had outperformed the Zacks Consensus Estimate over the trailing four quarters. The average earnings surprise was a positive 8.21%, implying that the company has outdone the Zacks Consensus Estimate by that magnitude over the last four quarters. First-Quarter Highlights VeriFone Systems in the first quarter 2011 posted a net income … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CVS Beats Medco To Win PBM Deal Posted: 31 May 2011 10:35 AM PDT CVS Caremark (NYSE:CVS) recently announced that it has won a three-year contract to provide integrated pharmacy benefit services for the Blue Cross and Blue Shield Government-wide Service Benefit Plan or Federal Employee Program (FEP). Earlier, Medco Health Solutions (NYSE:MHS) served this solution to Blue Cross and Blue Shield. The new contract will be effective from January 2012. CVS expects the FEP contract to bolster its Pharmacy Benefit Management (PBM) segment, which has been under pressure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Caterpillar Offers Euro Notes Posted: 31 May 2011 10:35 AM PDT Caterpillar Inc. (NYSE:CAT) offered €600 million worth of bonds through its financial wing at a coupon rate of 2.75%, which are priced at €99.935. The settlement date for the offer is June 6, 2011, while the date of maturity is June 6, 2014. The spread of the issue is 100.5 basis points more than the German government notes. The book-running lead managers for the issue are Royal Bank of Scotland Group plc (NYSE:RBS) and Societe Generale Group. Ever since the beginning of fiscal 2011, Caterpillar … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

WFC To Acquire Castle Pines Capital Posted: 31 May 2011 10:35 AM PDT In an effort to expand its business and add channel financing capabilities, Wells Fargo & Co. (NYSE:WFC) is set to acquire its strategic partner, Castle Pines Capital. Yesterday, the company announced that in order to carry out the acquisition process, Wells Fargo Bank NA has entered into a definitive agreement to take over the remaining equity interest in CP Equity LLC, the lone owner of Castle Pines Capital LLC and its affiliates. Wells Fargo expects to close this deal by the summer of this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

OmniVision Posts Decent Q4 Posted: 31 May 2011 10:35 AM PDT OmniVision Technologies' (NASDAQ:OVTI) fourth quarter earnings of 57 cents a share beat the Zacks Consensus Estimate by a penny, or 1.8%. This was significantly lower than the average positive surprise of 27.2% in the three preceding quarters. So it was not surprising that share prices plunged 8.9% the following day. It is not unnatural for the April quarter to see a slowdown, since most of OmniVision's technology goes into consumer-type products, which tend to be very heavy in the holiday … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Supplies Up By 105 Bcf Posted: 31 May 2011 10:35 AM PDT The U.S. Energy Department’s weekly inventory release showed a larger-than-expected build-up in natural gas supplies on the back of an increase in domestic production. This was partially offset by warmer temperatures in major population centers of the country, which led to intensified natural gas demand by electric power plants to meet air-conditioning needs. The Weekly Natural Gas Storage Report – brought out by the Energy Information Administration (EIA) every Thursday since 2002 – … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold And Silver Set To Rebound Posted: 31 May 2011 10:21 AM PDT Silver (SLV) since its August 2010 breakout at $18 has made a historic move as investors have exchanged their fiat currencies into silver at a record pace. At that time I predicted a powerful move up to $27. The August breakout signaled that demand in this niche market is far outpacing supply. Whenever these unprecedented long range swings occur professional traders look for a technical reaction as traders tend to take profits and shake out late comers. Prices tend to snap back and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sallie Mae Upped To Outperform Posted: 31 May 2011 10:05 AM PDT We are upgrading our recommendation on the shares of SLM Corp. (NYSE:SLM), better known as Sallie Mae, to Outperform. We believe that the stock price has significant upside potential owing to its leading position in the student lending market, expense curtailment initiatives and acquisition of federal student loan assets. Dividend reinstatement and share buyback efforts also inspire investors' confidence in the stock. Sallie Mae's first quarter 2011 core earnings of 48 cents per share outpaced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Bank Of Kenya Lifts Interest Rate 25bps To 6.25% Posted: 31 May 2011 10:02 AM PDT The Central Bank of Kenya raised the benchmark lending rate by 25 basis points to 6.25% from 6.00% previously.  The central bank also lifted the cash reserve ratio, the percentage of deposits that banks must hold at the central bank, by 25 basis points to 4.75%.  The Bank said: “Having noted the success of its previous monetary policy stance the Committee continues to endorse a tight stance so that inflation expectations are tamed and exchange rate stability … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Decline Continues On Weak Data Posted: 31 May 2011 10:00 AM PDT 05/31/11 The US dollar continued to steadily decline against the euro this session on growing hopes of a Greek bailout and weak US economic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down In U.S. Trade Posted: 31 May 2011 10:00 AM PDT Forex Pros – The British Pound was lower against the U.S. Dollar on Tuesday after the release of U.S. data on CB Consumer Confidence.<br/><br/> GBP/USD was trading at 1.6430, down 0.27% at time of writing.<br/><br/> The pair was likely to find support at 1.6275, Thursday&rsquo;s low, and resistance at 1.6547, today&rsquo;s high.<br/><br/> Earlier in the day, data showed that CB consumer confidence in the U.S. fell unexpectedly to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Boston Scientific Recalls Catheters Posted: 31 May 2011 09:55 AM PDT Leading medical devices player, Boston Scientific Corporation (NYSE:BSX) has announced a voluntary recall of its iCross catheters. The catheters are used for intravascular ultrasound (IVUS) imaging for patients about to undergo transluminal coronary interventional procedures. This recall involves about 29,664 iCross catheters distributed in the US, Puerto Rico, Trinidad, Tobago and the American Virgin Islands. Boston Scientific had no way but to initiate the recall after getting reports of eight … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NNN Closes New Credit Facility Posted: 31 May 2011 09:55 AM PDT National Retail Properties, Inc. (NNN), a publicly owned equity real estate investment trust, successfully closed a $450 million unsecured credit facility, with an option of increasing the facility size up to $650 million. The new credit facility replaces the company's existing $400 million credit facility. The new facility matures in May 2015 and can also be extended till May 2016. This expanded new facility will enable the company to attain financial flexibility and seize investment … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Higher; Dax Up 1.86% Posted: 31 May 2011 09:55 AM PDT Forex Pros – European stocks were up after the closing bell on Tuesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX rose 1.86%, London&rsquo;s FTSE 100 gained 0.86%, France&rsquo;s CAC 40 climbed 1.63% and the EURO STOXX 50 was up 1.69%.<br/><br/> Earlier in the day, official data showed that The number of people unemployed in Germany fell less-than-expected to a seasonally adjusted -8K last month from -33K in the preceding month whose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Positive Outlook From LDK Chief Boosts Solar Stocks And Options Posted: 31 May 2011 09:12 AM PDT Positive outlook from LDK chief boosts solar stocks and options Today's tickers: LDK, BP, ASH & VIA (NYSE:LDK) – LDK Solar Co. Ltd. – The prospects look brighter for solar panel maker according to its president who told Taiwanese electronics website DigiTimes that the industry hit its low point in the first quarter. LDK's chief also told the website not only to expect a second-quarter rebound but that the industry was not playing out investors' currently pessimistic scenario. Adding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

India’s Economy Grows At Slowest Pace In Five Quarters Posted: 31 May 2011 09:00 AM PDT 05/31/11 Due to rising interest rates slowing investment and consumption, India’s economy grew at its slowest pace in five … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Railway Revolution Builds China’s Consumer Culture Posted: 30 May 2011 10:00 PM PDT Frequent readers of my "Frank Talk" blog and the weekly Investor Alert should be familiar with the story of China's high speed rails. We've previously discussed how China is building the world's largest network of high speed rails at an incredible speed. Since opening the first high speed line between Beijing and Tianjin in 2008, the country has laid down more than 4,600 miles of new tracks. This is three times more than Japan, where the bullet train was invented, and this is just … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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