Monday, May 9, 2011

DailyMarkets.com - Forex – EUR/USD Down During The European Session

DailyMarkets.com - Forex – EUR/USD Down During The European Session


Forex – EUR/USD Down During The European Session

Posted: 09 May 2011 07:10 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4297, down 0.14% at time of writing.<br/><br/> The pair was likely to find support at 1.4273, 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 0.21% to hit 0.8766 and EUR/JPY falling 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ABB Acquires Mincom

Posted: 09 May 2011 07:02 AM PDT

ABB Ltd. (NYSE:ABB) is all set to expand its enterprise software business with the acquisition of  Mincom, a Brisbane, Australia-based provider of software solution. The acquisition is being made from Francisco Partners, a private equity group, investing in technology businesses for an undisclosed amount. The closing of the deal is subjected to regulatory clearances.
The acquisition will expand ABB's portfolio of software products and build a leadership position for the company in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Dean Foods

Posted: 09 May 2011 07:02 AM PDT

Dean Foods Co. (NYSE:DF) is scheduled to release its first-quarter 2011 results on Tuesday, May 10, 2011. The Zacks Consensus Estimate is 6 cents a share for the first quarter of fiscal 2011. This represents a year-over-year estimated decline of 73.9%.
Fourth Quarter Performance      
Dean Foods' adjusted earnings per share for the fourth quarter fiscal 2010 came in at 15 cents, well behind 31 cents recorded in the year-ago quarter but beat the Zacks Consensus Estimate by a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Alcatel

Posted: 09 May 2011 07:02 AM PDT

First quarter 2011 revenues of Alcatel – Lucent (NYSE:ALU) increased 15.2% year-over-year and decreased 23.1% sequentially to Euro 3.740 billion ($5.109 billion), exceeding the Zacks Consensus Estimate of $5.05 billion.
Loss per share was 1 cent, lower than the estimated 4 cents.
Networks revenues witnesses a year-over-year increase with all divisions growing. IP revenues maintained a robust growth rate with an increase of more than 20% along with wireless which grew 34% driven by 3G defined as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Up During The European Session

Posted: 09 May 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Monday.<br/><br/> NZD/USD was trading at 0.7907, up 0.02% at time of writing.<br/><br/> The pair was likely to find support at 0.7817, Thursday&rsquo;s low, and resistance at 0.7989, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.28% to hit 1.3576 and EUR/NZD rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Dollar Reverses Overnight Losses

Posted: 09 May 2011 06:45 AM PDT

There is something that remains unsettling about the return of risk appetite at the outset of a new week, yet it's something that eludes description. The dollar is weaker and commodities are higher, yet the rebound for the euro after its biggest two-day decline has an air of worry about it. Crude oil and silver prices rebounded with vim and vigor as investors walked in refreshed from the weekend sensing that, no matter what devastation last week brought global growth continues unabated.
U.S. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


A Mixed Bag For YRC Worldwide

Posted: 09 May 2011 06:32 AM PDT

YRC Worldwide Inc. (NASDAQ:YRCW) reported mixed financial results for the first quarter of 2011. Quarterly GAAP net loss from continuing operations was $101.8 million or a loss of $2.14 per share compared with a net loss of $274.1 million or $13.2 in the year-ago quarter. However, first-quarter 2011 EPS of a loss of $2.14 was significantly higher than the Zacks Consensus Estimate of a loss of $1.50.
Quarterly operating revenues were $1,122.9 million, up 13.8% year over year, ahead of the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Up During The European Session

Posted: 09 May 2011 06:25 AM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Monday.<br/><br/> USD/CAD was trading at 0.9668, up 0.02% at time of writing.<br/><br/> The pair was likely to find support at 0.9505, Wednesday&rsquo;s low, and resistance at 0.9713, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.03% to hit 1.4322 and GBP/USD falling 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Silver Setting Up Range Between 33.04 And 37.96

Posted: 09 May 2011 06:24 AM PDT

Gold and Silver Paring Losses this Friday (5/6)
Silver (XAG/USD)

Short-Term- Silver is in a strong reversal since being spooked at the 49.50-50 area. The decline has found temporary support at 33.04. The 4H candlestick shows that there was a strong rejection here. This resolves an oversold bearish momentum in the near-term, but the short to medium term momentum has turned bearish.
- From the upside, we see a strong rejection at the 37.96 (38.00) pivot. After such a volatile week, we might be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Economy To Remain In Focus

Posted: 09 May 2011 06:17 AM PDT

With nothing major on the economic calendar and the earnings season winding down, stocks will likely lack a clear direction today. But lingering positivity from Friday’s strong jobs report may keep overall sentiment favorable.

The strong jobs report on Friday helped offset some of the negative sentiment from soft economic readings earlier in the week. These reports had raised questions about the economy’s growth momentum in the current quarter folllowing the first quarter’s anemic growth … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: American International Group, Citigroup, Fluor, Kraft Foods, Sony, Tesco, Visa, Warner Music Group Corp.

Posted: 09 May 2011 06:17 AM PDT

    American International Group Inc. (NYSE:AIG) reported first quarter operating income of $2.03 billion or $1.30 per share, well ahead of the Zacks Consensus Estimate of a loss of 15 cents per share and earnings of $637 million or 95 cents per share in the year-ago quarter

    Tesco (NASDAQ:TESO) reported first quarter EPS of $0.13, missing the Zacks Consensus Estimate of $0.16 per share

    Kraft Foods Inc. (NYSE:KFT) posted first quarter 2011 operating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Liberty Media Beats Estimate

Posted: 09 May 2011 06:02 AM PDT

Liberty Media Corp. (NASDAQ:LINTA) reported solid top-line growth in the first quarter of 2011. Quarterly total revenue of $3,131million handily surpassed the Zacks Consensus Estimate of $2,187 million and improved 54.6% year over year.
Quarterly total operating income was $672 million compared with $240 million in the year-ago quarter. In the first quarter of 2011, consolidated adjusted OIBDA was $862 million compared with $441 million in the year-ago quarter. Quarterly earnings from continuing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Aaron’s Enhances Share Repurchase

Posted: 09 May 2011 06:02 AM PDT

Atlanta, Georgia based Aaron’s Inc. (AAN), a specialty retailer of consumer electronics, residential and office furniture, household appliances, and accessories, recently declared that its board of directors has increased the company’s share repurchase authorization by 5,955,204 to 10,000,000 shares, which reflects the robust long-term growth outlook of the company. Earlier, the company’s board of directors has authorized it to repurchase 4,044,796 shares.
Aaron’s has always been committed to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Dow Delays Cracker Restart

Posted: 09 May 2011 06:02 AM PDT

Chemical giant, The Dow Chemical Co. (NYSE:DOW) delayed the restart of a cracker at its Terneuzen chemicals plant in the Netherlands that was scheduled to resume operations early this week. The decision follows the planned maintenance that began in March.
Cracker 1 along with other chemical processing units at the facility was shut in mid-March for the maintenance work. The cracker is one of the three on site units having a capacity to produce 580,000 tpa ethylene.
Recently, DOW reported its first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Canadian Housing Starts Fall More-than-expected

Posted: 09 May 2011 06:00 AM PDT

Forex Pros – Canadian housing starts fell more-than-expected last month, official data showed on Monday.<br/><br/>In a report, Canadian Mortgage and Housing Corporation said that Canadian housing starts fell to a seasonally adjusted annual rate of 179K, from 185K in the preceding month whose figure was revised down from 189K.<br/><br/>Analysts had expected Canadian housing starts to fall to 183K last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Down On Economic Data

Posted: 09 May 2011 06:00 AM PDT

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Monday after the release of Canadian data on Housing Starts.<br/><br/> USD/CAD was trading at 0.9658, down 0.09% at time of writing.<br/><br/> The pair was likely to find support at 0.9505, Wednesday&rsquo;s low, and resistance at 0.9713, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Canadian housing starts fell more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Down During The European Session

Posted: 09 May 2011 06:00 AM PDT

Forex Pros – The Euro was lower against the Swiss Franc on Monday.<br/><br/> EUR/CHF was trading at 1.2569, down 0.13% at time of writing.<br/><br/> The pair was likely to find support at 1.2563, today&rsquo;s low, and resistance at 1.2830, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.06% to hit 1.4325 and EUR/JPY rising 0.09% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Made In The USA, Again: Manufacturing Renaissance Is Expected As The Wage Gap With China Shrinks

Posted: 09 May 2011 05:42 AM PDT

CHICAGO, May 5, 2011 — “Within the next five years, the United States is expected to experience a manufacturing renaissance as the wage gap with China shrinks and certain U.S. states become some of the cheapest locations for manufacturing in the developed world, according to a new analysis by The Boston Consulting Group.

With Chinese wages rising at about 17 percent per year and the value of the yuan continuing to increase, the gap between U.S. and Chinese wages is narrowing rapidly. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Friday’s Greek Rumors Denied, But As S&P Cuts Greece’s Rating Euro Falls

Posted: 09 May 2011 05:40 AM PDT

The Euro managed to regain its composure after sliding sharply the last two session of last week.
ECB President Trichet disappointed Euro bulls last Thursday as he failed to signal an upcoming interest rate increase in June, and then fell sharply further as it was circulated that Greece was threatening to leave the Euro. Those rumors were vehemently denied, but an emergency meeting of finance ministers (those from Germany, France, Italy and Spain) in Luxembourg on Friday did open the door for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/USD Is Resuming The Bearish Trend Ahead Of The NY Session

Posted: 09 May 2011 05:39 AM PDT

EUR/USD Finds Support at 1.43 to Start the Week (5/8)
EUR/USD

Short-Term- The EUR/USD found support at 1.43 and a correction followed to the 1.4440, just below 50% retracement of the decline after Friday's NFP. Ahead of the US session, the market appears to be continuing south.
- As this correction comes after a 5-wave sequence, it is likely that the current decline entering the US session is just a wave b to be followed by another correction rally to complete wave c before resuming the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Rallying From Rising Channel Support

Posted: 09 May 2011 05:23 AM PDT

Gold and Silver Paring Losses this Friday (5/6)
Gold (XAU/USD)

Short-Term to Medium Term- Gold started to pare its recent sharp slide from 1575 to 1462 area. So far we have a 38.2% retracement. A 50% retracement targets the 1520 area. This should hold as resistance for a healthy bearish trend in the short-term, which would be going against the bullish trend in the medium and long term.
- This bearish scenario however is still contained within a rising channel and the market respected the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Celanese’s Senior Notes Offer

Posted: 09 May 2011 05:22 AM PDT

Celanese US Holdings LLC, a wholly owned subsidiary of specialty material company Celanese Corporation (NYSE:CE), completed an offering of $400 million of senior unsecured notes at 55.775% due 2021.
The net proceeds from the offering were used to pay an existing senior secured credit facility indebtedness that was set to mature in 2014. The company paid additional $120 million of cash on hand to retire the debt.
Recently, Celanese reported adjusted earnings of 96 cents per share in the first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/GBP Up During The European Session

Posted: 09 May 2011 05:00 AM PDT

Forex Pros – The Euro was higher against the British Pound on Monday.<br/><br/> EUR/GBP was trading at 0.8798, up 0.58% at time of writing.<br/><br/> The pair was likely to find support at 0.8745, Friday&rsquo;s low, and resistance at 0.9042, Thursday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.61% to hit 1.4404 and EUR/JPY rising 0.76% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


GBP/JPY’s Elliott Wave Count Scenarios This Week

Posted: 09 May 2011 04:26 AM PDT

Did GBP/JPY Complete a Zig Zag? (5/6)
GBP/JPY

Short-Term to Medium-Term- It is unclear if the GBP/JPY has completed an ABC (zig zag) correction.
- The 4H chart below shows that we are probably done with a 5-wave sequence in C. The 1H chart shows that the market needs to close above 132.74 to invalidate the chance of another declining wave before finishing C.
- The bullish scenario in the very short-term has resistance near 134 then 136 as seen in the 4H Chart. The a break above 137.00 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/CHF Down During The European Session

Posted: 09 May 2011 04:15 AM PDT

Forex Pros – The British Pound was lower against the Swiss Franc on Monday.<br/><br/> GBP/CHF was trading at 1.4356, down 0.21% at time of writing.<br/><br/> The pair was likely to find support at 1.4111, Thursday&rsquo;s low, and resistance at 1.4412, Friday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.08% to hit 1.6380 and EUR/GBP rising 0.47% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


If You Are Unemployed, Should You Move Somewhere Else In Order To Find A Job?

Posted: 09 May 2011 03:46 AM PDT

It has been said that the definition of insanity is doing the same thing over and over and expecting different results. Unfortunately, millions of Americans find themselves slowly going insane as they apply for hundreds upon hundreds of jobs and yet never get hired. It is incredibly difficult to get a good job in most areas of the United States today. So if you are unemployed, and there are no jobs in your area, should you move somewhere else in an attempt to find work? That is a very … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NYFP’s This Week In Wall Street History

Posted: 08 May 2011 08:59 PM PDT

05/08/11 This week we introduce you to an important piece of American history, Federal Reserve building in Manhattan’s Financial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NYFP’s Wall Street Lingo: Market On Close Orders

Posted: 08 May 2011 02:00 PM PDT

05/08/11 In this week’s installment of NYFP’s Wall Street Lingo, Daniel Ryan, Managing Director for E&J Securities, introduces us to the term “Market on Close … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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