DailyMarkets.com - FMD: Restating Fiscal 2011 First And Second Quarter Results

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• FMD: Restating Fiscal 2011 First And Second Quarter Results
• AT&T To Invest In Cloud Business
• Praxair Starts New Unit In Alabama
• Chinese Inflation And Earnings Results
• Stock Market News Briefs: Bob Evans Farms, Boston Scientific, Citigroup, Cephalon, Credit Suisse Group, Cisco Systems, Cosan Limited, Dean Foods Company, Dice Holdings, Graphic Packaging Holding Company, Goldman Sachs Group, J P Morgan Chase & Co, Medivation, MannKind, Microsoft, Targa Resources Partners LP, Universal Display Corporation
• Time Warner Cable Remains Neutral
• Barrick Receives Aussies Nod
• GBP/USD Establishes A Bottom After The BoE Inflation Report
• Leggett’s Risk-Reward Balances
• Forex – EUR/JPY Slides To Daily Low As Debt Uncertainty Weighs
• Canada Trade Surplus Widens More-than-expected
• Gold And Silver Resuming Bear Runs
• U.S. Stock Futures Gain As Macy’s Jumps; Dow Adds 0.1%
• U.S. Trade Deficit Widens More-than-expected In March
• WFC To Buy Operating Assets Of FCE
• GBP Climbs As BOE Inflation Report Points To The Need For Rate Hike This Year
• Polycom Upgraded To Outperform
• Forex – Dollar Edges Higher, Pound Rises After BoE Report
• Forex – GBP/USD Hits 4-day High After BoE Lifts Inflation Forecast
• Forex – Euro Lower Against Dollar Amid Concerns Over Greek Debt
• Forex – Dollar Edges Up To Daily High Against Swiss Franc

FMD: Restating Fiscal 2011 First And Second Quarter Results Posted: 11 May 2011 06:57 AM PDT Ann Heffron, CFA FMD: Restating Fiscal 2011 First and Second Quarter Results The First Marblehead Corporation (FMD) announced today that it will be restating results for the prior two quarters of fiscal 2011, ending September 30, 2010 and December 31, 2010, due to a change in accounting for 11 National Collegiate Student Loan Trusts (NCSLT Trusts). At the same time, FMD stated that fiscal third quarter results, ending March 31, 2011, will be released no later than May 16, 2011. This is the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AT&T To Invest In Cloud Business Posted: 11 May 2011 06:57 AM PDT The second-largest U.S. mobile service provider AT&T Inc. (NYSE:T) plans to invest $1 billion in network-based cloud, mobility and network sourcing solutions in 2011. Telecommunication carriers are rapidly entering the cloud computing business due to increased competition in the space and changing consumer habits. This will help operators to differentiate their products and services and pave the way for strategic alliances between telecom and IT companies. AT&T will deploy the cloud … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Praxair Starts New Unit In Alabama Posted: 11 May 2011 06:32 AM PDT Praxair Inc. (NYSE:PX) recently announced the commencement of operations at a new air separation unit in Mobile, Alabama. The unit with daily capacity of 400 tons will supply industrial gases to ThyssenKrupp's state-of-the-art carbon and stainless steel processing facilities. Additionally, the unit will also satisfy the demand for liquefied natural gases for the company's merchant customer base. ThyssenKrupp is an integrated materials and technology group operating in more than 80 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chinese Inflation And Earnings Results Posted: 11 May 2011 06:32 AM PDT Stocks are likely to sustain the positive momentum from the last three days, but the lack of a clear catalyst may limit gains. We do not have much on the domestic economic front today, though we will get a host of reports dealing with the labor market and wholesale prices on Thursday. Beyond U.S. shores, we got a better looking read on China’s inflation picture today.  Consumer prices in China increased at a higher-than-expected rate; the rate of increase was lower than the preceding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Bob Evans Farms, Boston Scientific, Citigroup, Cephalon, Credit Suisse Group, Cisco Systems, Cosan Limited, Dean Foods Company, Dice Holdings, Graphic Packaging Holding Company, Goldman Sachs Group, J P Morgan Chase & Co, Medivation, MannKind, Microsoft, Targa Resources Partners LP, Universal Display Corporation Posted: 11 May 2011 06:32 AM PDT     Microsoft Corp. (NASDAQ:MSFT) will purchase internet communications leader Skype from the investor consortium led by Silver Lake. The deal which is worth $8.5 billion in cash has been approved by the boards of directors of both companies     Dean Foods (NYSE:DF) reported Q1 EPS of $0.14, surpassing the Zacks Consensus Estimate of $0.06 per share     Medical-device maker Boston Scientific Corporation (NYSE:BSX) announced that Ray Elliott would retire as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Time Warner Cable Remains Neutral Posted: 11 May 2011 06:32 AM PDT We reiterate our Neutral recommendation on Time Warner Cable Inc. (NYSE:TWC) backed by its impressive first-quarter 2011 financial results. Time Warner Cable posted strong growth in both top line and bottom line coupled with solid free cash flow. Revenue increased across the business lines including video, high-speed Internet, voice, and advertising. Fall in video customer base was more than offset by massive growth of high-speed data and digital phone subscribers. After Comcast Corp. (NASDAQ:CMCSA), … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Barrick Receives Aussies Nod Posted: 11 May 2011 06:12 AM PDT Barrick Gold Corporation (NYSE:ABX) received approval from the Australian Government under its foreign investment policy for Barrick’s proposed acquisition of all of the issued and outstanding common shares of Equinox Minerals Limited. On April 25, 2010, Barrick had entered into a support agreement with Equinox to acquire, through an all-cash offer, all of the issued and outstanding common shares of Equinox for C$8.15 per share, or a total of approximately C$7.3 billion. The acquisition of Equinox … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Establishes A Bottom After The BoE Inflation Report Posted: 11 May 2011 06:10 AM PDT GBP/USD Short-Term to Medium Term- The BoE Inflation Report buoyed a GBP/USD recovery at least in the short-term, after declining from 1.6750 to 1.6270. - The market first found resistance 1.6420, but rallied through after the inflation report, establishing a bottom. - As the 1H chart shows, the momentum turned bullish in the very short-term, and the rally retraced 50% of the decline. The market is also testing the 200SMA in the 1H chart. - If a subsequent throwback remains above 1.6385, we … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Leggett’s Risk-Reward Balances Posted: 11 May 2011 06:02 AM PDT We have maintained our long-term ‘Neutral’ recommendation on Leggett & Platt Incorporated (NYSE:LEG) with a target price of $27.00 per share. Moreover, the company has a Zacks #2 Rank, implying a short-term ‘Buy’ rating on the stock. Headquartered in Carthage, Missouri, Leggett is a global manufacturer of engineered components and products used in many homes, offices, retail stores and automobiles. The company has a well-diversified customer base and sound research and development (R&D) … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Slides To Daily Low As Debt Uncertainty Weighs Posted: 11 May 2011 05:51 AM PDT Forex Pros – The euro slipped against the yen on Wednesday, amid a growing sense of uncertainty over whether Greece will need additional financial assistance in order to avoid debt restructuring.<br /><br />EUR/JPY hit 115.93 during European afternoon trade, the daily low; the pair subsequently consolidated at 116.19, sliding 0.18%.<br /><br />The pair was likely to find support at 114.78, Tuesday&rsquo;s low and a six-week low and resistance at 117.58, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canada Trade Surplus Widens More-than-expected Posted: 11 May 2011 05:46 AM PDT Forex Pros – Canada&rsquo;s trade surplus widened more-than-expected in March, official data showed on Wednesday.<br /><br />In a report, Statistics Canada said that Canada&rsquo; trade surplus widened to CAD0.6 billion, after posting a surplus of CAD0.4 billion in February, whose figure was upwardly revised from a flat trade balance. <br /><br />Analysts had expected Canada&rsquo;s trade surplus to widen to CAD0.5 billion in March.<br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold And Silver Resuming Bear Runs Posted: 11 May 2011 05:40 AM PDT Gold (XAU/USD) Short-Term to Medium-Term- The rally from 1463 was capped at 1527, near 61.8% retracement of the entire decline we had since last week. - The 4H chart shows a swing projection to 1415 if the market is in a zig zag mode. Note here that the RSI reading is held below 60. The reading breaking below 40 would reflect bearish continuation. - However, if the market consolidates or congests in a triangle pattern, the decline should also catch support between 50-61.8% retracement of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Gain As Macy’s Jumps; Dow Adds 0.1% Posted: 11 May 2011 05:38 AM PDT Forex Pros – U.S. stock futures pointed to a slightly higher open on Wednesday, as investors digested a slew of mixed corporate earnings results and as shares in department store chain Macy&rsquo;s surged to a one-year high ahead of the open.&nbsp;&nbsp;&nbsp; <br /><br />Dow Jones Industrial Average futures pointed a modest gain of 0.1%, the S&amp;P 500 futures added 0.06%, while Nasdaq 100 futures edged 0.05% higher.&nbsp; <br /><br />Stock … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Trade Deficit Widens More-than-expected In March Posted: 11 May 2011 05:34 AM PDT Forex Pros – The U.S. trade deficit widened more-than-expected in March, posting the largest deficit since June 2010, official data showed on Wednesday.<br /><br />In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit widened to a seasonally adjusted USD48.2 billion in March, compared to a deficit of USD45.4 billion in February, whose figure was revised from a deficit of USD45.8 billion.<br /><br />Analysts had expected the U.S. trade … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

WFC To Buy Operating Assets Of FCE Posted: 11 May 2011 05:32 AM PDT With the aim of expanding its international banking, Wells Fargo & Company (NYSE:WFC) announced its intention of acquiring all the US-based operating assets of Foreign Currency Exchange Corporation (FCE), a wholly owned subsidiary of the Bank of Ireland Group. Though the deal is expected to be completed in summer, the financial terms were not disclosed. Orlando, Florida-based FCE is a wholesale foreign currency conversion provider. At present, the firm provides currency conversion to about 140 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP Climbs As BOE Inflation Report Points To The Need For Rate Hike This Year Posted: 11 May 2011 05:32 AM PDT The Bank of England released its Quarterly Inflation Report in which they cut their growth forecasts for the economy at the same tima as they raised their inflation expectations. The markets focused primarily on the latter as it implies that the BOE will need to raise interest rates sometime this year, though futures prices are looking all the way till December for such an action from the central bank. The BOE now expects the economy to grow about 2.7% in 2011, down from its February forecast … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Polycom Upgraded To Outperform Posted: 11 May 2011 05:27 AM PDT We upgrade our recommendation on Polycom Inc. (NASDAQ:PLCM) to Outperform. The companydeclared record-high first-quarter 2011 financial results, surpassing the Zacks Consensus Estimates.  Despite facing competitive pressure from Cisco, which acquired Tandberg TV, Polycom's high-margin Network Infrastructure Systems businesses grew 25% year over year in the previous quarter. Strong momentum of the Network Infrastructure division is a significant positive for Polycom since this division drives … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Edges Higher, Pound Rises After BoE Report Posted: 11 May 2011 05:05 AM PDT Forex Pros – The U.S. dollar edged higher against most of its major counterparts on Wednesday, while the pound rallied after the Bank of England raised its medium-term inflation forecasts in its Quarterly Inflation Report.<br /><br />During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.32% to hit 1.4361.<br /><br />Earlier in the day, Germany&rsquo;s deputy finance minister said that euro zone officials will debate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Hits 4-day High After BoE Lifts Inflation Forecast Posted: 11 May 2011 04:23 AM PDT Forex Pros – The pound extended early gains against the U.S. dollar on Wednesday, climbing to a four-day high after the Bank of England indicated that interest rates would rise from the third quarter of 2011 to tackle high inflation. <br /><br />GBP/USD hit 1.6504 during European early afternoon trade, the pair&rsquo;s highest since May 5; the pair subsequently consolidated at 1.6484, surging 0.72%.<br /><br />Cable was likely to find support at 1.6269, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Euro Lower Against Dollar Amid Concerns Over Greek Debt Posted: 11 May 2011 03:40 AM PDT Forex Pros – The euro was lower against the U.S. dollar on Wednesday, as a mounting sense of uncertainty over whether Greece will need supplementary financial aid weighed on the currency.<br /><br />EUR/USD hit 1.4368 during European late morning trade, the daily low; the pair subsequently consolidated at 1.4387, sliding 0.14%.<br /><br />The pair was likely to find support at 1.4269, Tuesday&rsquo;s low and resistance at 1.4587, last Friday&rsquo;s high.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Edges Up To Daily High Against Swiss Franc Posted: 11 May 2011 03:22 AM PDT Forex Pros – The U.S. dollar edged higher against the Swiss franc for a second day on Wednesday, after Tuesday&rsquo;s softer-than-expected inflation data dampened expectations that the Swiss National Bank would raise interest rates in the near future.<br /><br />USD/CHF hit 0.8812 during European morning trade, the daily high; the pair subsequently consolidated at 0.8805, easing up 0.11%.<br /><br />The pair was likely to find short-term support at 0.8705, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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