Thursday, May 5, 2011

DailyMarkets.com - Fortune Brands Beats Estimates

DailyMarkets.com - Fortune Brands Beats Estimates

Fortune Brands Beats Estimates

Posted: 05 May 2011 09:35 AM PDT

Fortune Brands Inc.’s (NYSE:FO) adjusted earnings of 59 cents a share for the first quarter of fiscal 2011 beats the Zacks Consensus Estimate of 51 cents and rose 20.4% from the prior-year quarter. Earnings, on a GAAP basis, were 52 cents per share compared with 47 cents per share posted in the year-ago quarter.
Higher volumes, new spirits distribution agreement in Australia and favorable currency translations helped the company to report better-than-expected first-quarter 2011 results. However, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: SurModics

Posted: 05 May 2011 09:35 AM PDT

Following the release of second quarter fiscal 2011 results on April 27, 2011, there have been significant revisions to the annual estimates for SurModics Inc. (NASDAQ:SRDX) for fiscal 2011 and fiscal 2012 by a majority of the analysts covering the stock.
Second Quarter Highlights
SurModics Inc.'s second quarter fiscal 2011 earnings (excluding special items) of $0.08 per share were well ahead of break-even earnings suggested by the Zacks Consensus Estimate.
Revenues on an adjusted basis dropped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Suncor High On Volume

Posted: 05 May 2011 09:35 AM PDT

A premier Canadian integrated energy company, Suncor Energy (NYSE:SU) reported bright first quarter 2011 results, aided by higher volumes, greater average sales prices and lower depreciation and impairment.
Earnings per share, excluding certain items, came in at 94 Canadian cents (95 US cent) in the quarter, way ahead of the Zacks Consensus Estimate of 58 cents and 24 Canadian cents earned in the prior-year quarter.
In the reported quarter, total revenue of C$9.84 billion ($9.97 billion) escalated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Electronic Arts Beats Marginally

Posted: 05 May 2011 09:35 AM PDT

Video game developer and publisher, Electronic Arts (NASDAQ:ERTS) reported fourth quarter 2011 results, which inched past the Zacks Consensus. The better-than-expected results were driven by strong top-line growth in the quarter.
Operating Performance
Electronic Arts reported non-GAAP earnings (excluding one-time items of 31 cents per share but including stock-based compensation) of 14 cents per share,  significantly up from a loss of 6 cents per share in the prior-year quarter. However, this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CenturyLink Beats But Down Y/Y

Posted: 05 May 2011 09:35 AM PDT

Before the opening bell, the third-largest U.S. landline operator CenturyLink Inc. (NYSE:CTL), reported first quarter 2011 adjusted earnings of 76 cents per share, beating the Zacks Consensus Estimate of 72 cents. However, adjusted earnings fell 18.3% from the year-ago earnings of 93 cents.
Adjusted earnings exclude integration and severance-related costs of approximately 6 cents per share associated with the Embarq acquisition (completed on July 1, 2009) and transaction and integration costs of 1 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jobless Claims Downright Ugly

Posted: 05 May 2011 09:35 AM PDT

Initial Claims for Unemployment Insurance jumped by 43,000 last week to 474,000. However, last week was revised up by 2,000, so one could see it as a 45,000 increase. This was far worse than the expected level of 400,000.

The trend in initial claims had been downward, though there had been some bumps along the way. Recently, though, they have started to shoot back up again. That is a very worrisome trend. The weekly numbers, after an erratic few months, seemed to have broken decisively to the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Global Reported Robust 1Q11

Posted: 05 May 2011 09:35 AM PDT

Yesterday, after market close, Liberty Global Inc. (NASDAQ:LBTYA) declared solid financial results for the first quarter of 2011. Quarterly GAAP net income was $342.4 million or $1.22 cents per share compared with a net income of $736.6 million or $2.75 per share in the prior-year quarter. The first quarter of 2011 adjusted (excluding special items) EPS of 86 cents was miles ahead of the Zacks Consensus Estimate of 20 cents.
Quarterly total revenue of $2,432.3 million was an improvement of 11.8% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

News Corp. Misses Both Edges

Posted: 05 May 2011 09:35 AM PDT

Despite witnessing robust performances across its Television and Cable Networks segments, News Corporation's (NWSA) third-quarter 2011 top and bottom lines results missed Zacks' expectations, as the spark of chartbuster movie Avatar that benefited the prior-year results faded away.
While the recent quarter includes the performance of Black Swan, which generated $300 million in box office receipts, it was also weighed down by the promotional costs of Rio.
Rupert Murdoch controlled News … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD Tests Bearish Momentum After 50% Retracement

Posted: 05 May 2011 09:17 AM PDT

USD/CAD

Short-Term to Medium Term- The USD/CAD has retraced 50% of the decline from 0.9980 to 0.9450. The greenback is rallying against the loonie as oil prices fall.
- The rally has so far been capped at 50% near 0.97. The RSI is knocking on 60, attempting to break the bearish momentum.
- If a subsequent decline fails to break below 0.9550, we can expect a second correction rally swing towards the 61.8% retracement level, near 0.9770.
- However, if the current rally does not throw back and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JDS Uniphase Reports Mixed 3Q

Posted: 05 May 2011 09:05 AM PDT

JDS Uniphase Corp.(NASDAQ:JDSU) declared third quarter 2011 financial result yesterday after the closing bell.  The company, which manufactures broadband and optical networking components for the telecom industry, reported strong third quarter revenue, gross margin and operating margin surpassing its previous high levels.
Moreover, the company forecasted encouraging revenue guidance for the ensuing fourth quarter of 2011. As a result, in the after-market trade on NASDAQ, shares of JDS Uniphase … [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: 05 May 2011 09:00 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.<br/><br/> EUR/USD was trading at 1.4581, down 1.66% at time of writing.<br/><br/> The pair was likely to find support at 1.4578, today&rsquo;s low, and resistance at 1.4940, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. Initial Jobless Claims rose unexpectedly to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Benihana Sales Grow

Posted: 05 May 2011 08:35 AM PDT

Benihana Inc.(NASDAQ:BNHN), the largest operator of Japanese restaurants in the U.S, posted restaurant sales of $26.7 million for the four-week period ending April 24, 2011, up 5.8% from $25.3 million in the year-ago period.  Results reflect improved comparable restaurant sales at both Benihana Teppanyaki and RA Sushi restaurant.
The company's comparable restaurant sales grew 5.8% in the first four-week period of the first quarter of 2012, representing the fifteenth consecutive period of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Bankers Improve Buoyant Bond Market Tone

Posted: 05 May 2011 08:28 AM PDT

A setback for the recently improving U.S. jobs market and a far more cautious approach to European monetary policy setting set government bond trading alight on Thursday helping propel yields lower. Various Federal Reserve members have stepped up a message warning investors that the economic recovery remains modest. And while we could entertain that philosophy without central bank or government intervention during normal times, the reality is that the Fed is fast-approaching the final days of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Momentum Stock: Williams Sonoma, Inc.

Posted: 05 May 2011 08:25 AM PDT

Williamm Sonoma, Inc. (NYSE:WSM) continues to trade strong in the face of a choppy market, recently hitting a new multi-year high ahead of its mid-May Q1 report. With four consecutive earnings surprises and a bullish growth projection, this Zacks #1 rank stock will help furnish your portfolio with momentum.
Company Description
Williams Sonoma, Inc. operates as a specialty retailer of home products mostly domestically but with a presence in Canada and Puerta Rico as well. The company was founded in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MGM Beats, Loss Shrinks

Posted: 05 May 2011 08:25 AM PDT

MGM Resorts International (NYSE:MGM) reported first-quarter 2011 adjusted loss of 16 cents per share beating the Zacks Consensus Estimate of a loss of 19 cents per share. The better-than-expected result was driven by significant top-line growth and margin expansion.
On a GAAP basis, net loss per share was 18 cents compared with a loss of 22 cents in the comparable quarter prior year. The reported quarter's loss includes debt extinguishment charges related to CityCenter of a loss of 2 cent per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: Under Pressure

Posted: 05 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: 05 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: 05 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: 05 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: 05 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: Capped By A Negative Trend Line

Posted: 05 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

EUR/USD Daily Fundamental Analysis For May 06, 2011

Posted: 05 May 2011 08:09 AM PDT

By ForexMansion.com
The EUR/USD moved strongly to the downside on Thursday after Trichet's press conference as he refrained from the phrase "strong vigilance" signaling postponed rate hikes beyond June.
Investors have been very hawkish on the ECB and expected a rate hike as soon as next month after inflation leaped to 2.8% in April and considering their stance on inflation, they surely expected much from Trichet.
Trichet instead said the ECB will continue to monitor very closely the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FBIZ: Strong First Quarter Results; Rising Target Price

Posted: 05 May 2011 08:06 AM PDT

Ann Heffron, CFA
FBIZ: Strong First Quarter Results; Rising Target Price

FBIZ posted first quarter diluted EPS of $0.52, up 47% from the $0.35 reported last year, and well in excess of our $0.45 estimate. First quarter results were boosted by growth in net interest income from a higher net interest margin and a lower effective tax rate, partially offset by increased compensation from bonus accruals and a hike in the loan loss provision as the Company strengthened loss reserves.

Relative to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forest Lags Estimates

Posted: 05 May 2011 08:06 AM PDT

Denver-based Forest Oil Corporation's (NYSE:FST) first quarter 2011 earnings of 19 cents per share (excluding non-recurring items), came in well below the Zacks Consensus Estimate of 33 cents and year-earlier numbers of 42 cents. Despite higher sales volumes, earnings missed our estimate due to lower natural gas price realization. 
Total revenue in the reported quarter decreased 8.5% to $203.1 million and missed the Zacks Consensus Estimate of $231 million.
Operational Performance
Net sales … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MEMC Delivers A Mixed Bag

Posted: 05 May 2011 08:06 AM PDT

MEMC Electronic Materials Inc. (NYSE:WFR) reported first-quarter 2011 adjusted net income per share of 9 cents, which missed the Zacks Consensus Estimate of 12 cents. Overall, MEMC's results were negatively impacted by Japan disruptions and some legal settlements. However, the share price rose 1.67% in after-hours trading, presumably on strong performance in the Solar vertical.
The adjusted figure excludes the impact of restructuring charges and warrant adjustments but includes amounts related … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD Gains Amid Falling Commodities, Oil, Equities, And Less Hawkish Trichet

Posted: 05 May 2011 08:06 AM PDT

Following several weeks in which the USD was beat up on the back of expectations around its loose monetary policy, we have finally seen the USD strike back. Today it was against the EUR, as ECB President Trichet sent a signal to the markets that the ECB would hike rates in July rather than June.
But, USD strength started earlier than today as silver and gold prices, which have been relentless in moving higher over the past few weeks, became overstretched and corrected. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: US Stocks Fall On Spike In Jobless Claims

Posted: 05 May 2011 08:01 AM PDT

05/05/11 The major equity indexes and commodities declined on the heels of disappointing jobless claims … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Higher As Euro Tumbles On Rate Outlook Uncertainty

Posted: 05 May 2011 07:43 AM PDT

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Thursday, while the euro tumbled amid uncertainty over the timing of future rate hikes by the European Central Bank.<br /><br />During U.S. morning trade, the greenback was sharply higher against the euro, with EUR/USD tumbling 1.30% to hit 1.4632.<br /><br />Speaking after the ECB maintained its minimum bid rate at 1.25%, bank chief Jean-Claude Trichet said the central bank will monitor … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Smashed Lower…

Posted: 05 May 2011 07:32 AM PDT

In a previous post, the 1.4640 level was the target for the EURUSD. (CLICK HERE).  The EURUSD fell below the 38.2% of the move up from the April 18th low to the high without pausing.   This suggests stops being triggered as the long term bulls start to liquidate some positions.  Resistance now at 1.4640 to 1.4653

On the daily chart, a move back into the channel today is a significant development and should lead to further corrective pressure.  The bottom trendline … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lower Margins And Higher Costs Hurt CVS Caremark

Posted: 05 May 2011 07:30 AM PDT

05/05/11 Due to lower margins and higher costs, CVS Caremark Corp. announced a slide in 1Q net income on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Pound Hits 2-week Low As Risk Aversion Boosts Dollar

Posted: 05 May 2011 07:30 AM PDT

Forex Pros – The pound fell to a two-week low against the U.S. dollar on Thursday, after data showing that U.S. initial jobless claims jumped to an eight-month high last week added to the overall sense of risk aversion in markets.<br /><br />GBP/USD hit 1.6415 during U.S. morning trade, the pair&rsquo;s lowest since April 21; the pair subsequently consolidated at 1.6418, shedding 0.44%.<br /><br />The pair was likely to find support at 1.6306, the low of April 20 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CHF Daily Fundamental Analysis For May 6, 2011

Posted: 05 May 2011 07:10 AM PDT

By ForexMansion.com
 
The week ends with the release of the awaited non-farm payrolls report from the United States, due at 12:30 GMT. Expectations refer that the change in non farm payrolls will reach 185,000 from the previous 216,000 while unemployment will linger at 8.8%. Another downbeat report after the drop in ADP employment change is predicted to push the pair further to the downside, targeting new record low for the dollar versus the swissy. 
Earlier this week, US data showed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Oil Slumps, Trades Below $106

Posted: 05 May 2011 01:45 AM PDT

05/05/11 Following weak jobs data and a dollar rally after the ECB kept rates unchanged, front month crude prices dropped by more than $3 this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hardide Cheered By Seven Year Exclusivity Deal In The US

Posted: 05 May 2011 02:04 AM PDT

Hardide (LON:HDD) , the AIM quoted specialist coatings business whose surface technology helps prolong the life of engineering components, has signed a seven year exclusivity agreement with a multi-billion dollar blue chip US-based manufacturer of high pressure fluid handling equipment. The deal is based on minimum revenues of US$3.65 million (£2.21 million) over the period, which started in late April. Should revenues drop below an agreed annual minimum, the customer will pay a percentage of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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