Tuesday, May 24, 2011

DailyMarkets.com - LongHorn Debuts In South Carolina

DailyMarkets.com - LongHorn Debuts In South Carolina

LongHorn Debuts In South Carolina

Posted: 24 May 2011 08:05 AM PDT

LongHorn Steakhouse, operated by Florida-based Darden Restaurants Inc. (NYSE:DRI), recently opened its first restaurant in Bluffton, South Carolina. The new 5,600-square feet restaurant accommodates 200 guests and Chad Mitchell, the industry veteran, is the managing partner.
In the same month, LongHorn opened a new 5,000-square feet restaurant in Kingsland, Georgia. The restaurant will be managed by another industry expert Jay Brannon and accommodates more than 200 guests. Last month, LongHorn … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

L-3′s Legacy Defense Deal

Posted: 24 May 2011 07:40 AM PDT

Systems Field Support (SFS), a division of L-3 Communications Holdings Inc. (NYSE:LLL), has received a contract worth $32.9 million from the U.S. Navy (USN) and U.S. Air Force (USAF) to provide full Contractor Logistics Support (CLS) for their respective fleets of C-12 aircraft. The contract is spread over a span of five years with a total potential value of more than $300 million.
Under the contract, the company will provide full maintenance and logistics support for 65 Navy C-12 aircrafts … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Polo Ralph

Posted: 24 May 2011 07:35 AM PDT

Polo Ralph Lauren Corp. (NYSE:RL) is scheduled to release its fourth-quarter 2011 results on Wednesday, May 25, 2011.
The Zacks Consensus Estimate for the quarter is pegged at 76 cents a share, representing an estimated year-over-year decline rate of 32.7%. 
Third Quarter Performance
Polo Ralph Lauren Corp.’s fiscal 2011 third-quarter earnings surged $1.72 per share from $1.10 in the year-ago period, as higher sales and strong gross margin drove performance. Quarterly earnings also surpassed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Makes New Highs

Posted: 24 May 2011 07:16 AM PDT

Milestone Payment For Auxilium

Posted: 24 May 2011 07:05 AM PDT

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) recently received a $7.5 million milestone payment from Pfizer, Inc. (NYSE:PFE) related to the first sale of Xiapex in Germany. Xiapex, which gained approval in the EU in late Feb 2011, is indicated for the treatment of Dupuytren's contracture in adult patients with a palpable cord.
Dupuytren's contracture is a condition that affects the connective tissue in the palm known as palmar fascia. Auxilium Pharma estimates that approximately 3% – 13% of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. New Home Sales Rise More-than-expected In April

Posted: 24 May 2011 07:05 AM PDT

Forex Pros – U.S. new home sales rose more-than-expected in April, increasing for the second consecutive month, official data showed on Tuesday.<br /><br />In a report, the U.S. Census Bureau said new home sales rose by 7.3% to a seasonally adjusted 323,000 units in April, up from 301,000 units in March, whose figure was upwardly revised from 300,000 units.<br /><br />Analysts had expected the number of new home sales to rise to 305,000 units. <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Goodrich Gets Bofors Contract

Posted: 24 May 2011 06:55 AM PDT

Goodrich Corporation's (NYSE:GR) Sensors and Integrated Systems business in Plymouth, UK has received a follow-on order from Saab Bofors Dynamics AB for additional inertial measurement units (IMUs) for its Next-generation Light Anti-tank Weapon (NLAW) system. The contract covers additional NLAW units intended for export; deliveries are expected to complete in 2012.
The IMUs are Goodrich model SiIMU01, a rugged MEMS-based IMU that provides missile navigation and guidance. The Plymouth team was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Jamba Reports A Loss

Posted: 24 May 2011 06:55 AM PDT

Jamba Inc. (NASDAQ:JMBA) reported first quarter 2011 loss of 11 cents per share, which was wider than the Zacks Consensus Estimate of loss of 7 cents, but narrowed from  the prior-year quarter loss of 13 cents per share.
The top line of the company continues to struggle, as consolidated revenues fell 17.7% year over year to $66.2 million. However, the quarter's revenue was ahead of the Zacks Consensus Estimate of $62.0 million. The revenues declined primarily due to the shift from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Erases Losses On BoC Rate View

Posted: 24 May 2011 06:50 AM PDT

Forex Pros – The U.S. dollar erased losses against its Canadian counterpart on Tuesday, as markets trimmed expectations for an interest rate hike by the Bank of Canada next week.<br /><br />USD/CAD clawed back up from 0.9755, the daily low, to hit 0.9781 during early U.S. trade, easing up 0.04%.<br /><br />The pair was likely to find support at 0.9730, Monday&rsquo;s low and short-term resistance at 0.9809, Monday&rsquo;s high and a two-month high.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/JPY In A 3-Swing Retracement To 83.30?

Posted: 24 May 2011 06:46 AM PDT

USD/JPY Completing Corrective Structure with Bearish Divergence (5/19)
USD/JPY

Short-Term- The market completed a 2-swing rally to 82.00 last week with bearish divergence. The market looked ready to continue the bearish mode staying under the 200SAM in the 4H chart.
- However, the market found support above 81.30 and is pushing for another swing, to make it a 3-swing retracement.
- Note that the previous 2 swings have similar strength, and if the current rally is analogous, then the wave … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Calgon Carbon Awarded Contracts

Posted: 24 May 2011 06:36 AM PDT

Hyde Marine, a wholly owned subsidiary of Calgon Carbon Corporation (NYSE:CCC) was awarded three contracts to supply a total of 13 Hyde GUARDIAN Ballast Water Treatment (BWT) Systems for use on various vessels.
Hyde GUARDIAN BWT filters and disinfects the ships ballast water to prevent the spread of invasive species from port to port through chemical free process.
Hyde Marine would supply 8 multi-purpose vessels to the Zhejiang Ouhua Ship building Co. Ltd., for the China Navigation Co. Ltd., and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Buckle, DemandTec, Consolidated Edison, Goldman Sachs Group, ON Semiconductor, Pacific Gas & Electric Co., PAREXEL International, Sony, UIL Holdings Corporation

Posted: 24 May 2011 06:36 AM PDT

    After a security researcher reported that social networking site LINKEDIN CORP (LNKD) has serious security serious flaws which makes its user accounts susceptible to hackers, share prices of the social networking site dropped 5.15% to close at $88.30

    Shares of Sony (NYSE:SNE) slid 1.7% to $26.59 after the electronics maker reported it would incur a loss of 260 billion yen ($3.19 billion) because of the impact of the tsunami and earthquake which had hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Extend Gains After Goldman Upgrade

Posted: 24 May 2011 06:26 AM PDT

Forex Pros – Crude oil futures extended gains on Tuesday, recouping nearly all of Monday&rsquo;s losses after Goldman Sachs raised its oil-price forecast and recommended buying the commodity, while a weaker U.S. dollar also lent support.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at USD99.47 a barrel during U.S. morning trade, rallying 2%.&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />It earlier rose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stalking The Correction In USD/CAD

Posted: 24 May 2011 06:24 AM PDT

USD/CAD is Attempting to Confirm an Inverted Head and Shoulder (5/20)
USD/CAD

Short-Term to Medium Term- The USD/CAD was turned away at 0.98 but looks bullish in the medium term.
- In the very short-term it is in consolidation, having retraced 50% of the rally from 0.9690 to 0.9810, and finding support at 0.9750.
- If the 0.9750 support does not hold, the 0.9735 level represents wave equality, and is near 61.8% retracement.
- A break above 0.9810 returns the market to the bullish mode, but … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Tests 100 Hour MA Resistance At 1.6172. 100 Day MA Eyed Too

Posted: 24 May 2011 06:21 AM PDT

Earlier today this MA was tested and the market found sellers. The pair is back up testing again at the 1.6172 level.  This level has the 50% Fibo level at 1.6180 right behind it. This makes the area a difficult nut to crack but will likely encourage the bulls if broken.  Until then however, the temptation to take profit should keep the market balanced.
The GBPUSD is up despite a higher government deficit and a Moody's potential downgrade of 14 UK lenders.  Typically, this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Concur Partners For API

Posted: 24 May 2011 06:16 AM PDT

Concur Technologies Inc. (NASDAQ:CNQR) entered into a partnership with UK's leading online rail retailer, trainline.com. Through this partnership, Concur's existing online facility for booking air, car, or hotel reservations will be available with trainline.com’s API (Application Programming Interface), called Trainline Connect.
Trainline Connect helps clients to access on one screen all travel plan information like prices and availability, reserve and purchase any UK journey as well as compare … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FX Headlines: Temporary Rebound In Risk Appetite Boosts Commodity Currencies

Posted: 24 May 2011 06:13 AM PDT

Despite yesterday's losses across riskier asset classes, a temporary rebound in risk appetite in the overnight fueled by gains in commodities helped boost equity markets in the Asian and European sessions overnight, propping up the commodity currencies ahead of the U.S. session open.

Fundamental Headlines
• Bullard Says Fed May Keep Rates, Balance-Sheet Steady to Assess Economy – Bloomberg
• Greece to Speed Asset Sales to Stem Crisis as Bonds Drop – Bloomberg
• Greek Default Could Make … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 24 May 2011 06:10 AM PDT

05/24/11 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

Belgium NBB Business Climate Tumbles In May

Posted: 24 May 2011 06:08 AM PDT

Forex Pros – Belgian business confidence tumbled unexpectedly in May, turning negative for the first time in nine months, official data showed on Tuesday. <br /><br />In a report, the National Bank of Belgium said its business climate index plunged to a seasonally adjusted -0.5 in May from 2.8 in April.<br /><br />Analysts had expected the index to advance to 3.2 in May. <br /><br />On the index, a reading above 0.0 indicates improving conditions, below … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hartford Sells Unit To CenterState

Posted: 24 May 2011 06:05 AM PDT

In order to shed off its petty businesses, Hartford Financial Services Group Inc. (NYSE:HIG) has agreed to sell its thrift holding company – Federal Trust Corp. to CenterState Bank of Florida, a subsidiary of CenterState Banks Inc. (NASDAQ:CSFL).
Though the terms of the deal were undisclosed, Hartford stated that the transaction will result in an after-tax charge of about $70 million in the second quarter of 2011, which includes losses on certain assets and liabilities that will not be sold to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SPG To Develop Mall In Canada

Posted: 24 May 2011 06:05 AM PDT

Simon Property Group Inc (SPG) and Calloway Real Estate Investment Trust signed a Letter of Intent to develop the Premium Outlet shopping center in the Town of Halton Hills, Ontario. Located just 15 minutes outside Toronto, this will be the first Premium Outlet Center in Canada.
Simon Property and Calloway Trust are in the process of obtaining the municipal permits and approvals required to start constructing the shopping center in spring 2012.
The Premium Outlet shopping center is expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Growth Debate Is Key Issue

Posted: 24 May 2011 06:05 AM PDT

We have started seeing the word ‘default’ and ‘Greek debt’ being used in the same sentence for the first time. And this has to count as an improvement in the overall discourse on the European debt problem. The debate is hardly settled, but this is exactly what should constitute the core of the debate.

The markets are already pricing some measure of Greek default if we look at the yields on Greek government bonds. And the political elites in Europe appear to be coming around to that view as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tracking Slowly Above The 100 Bar MA

Posted: 24 May 2011 06:03 AM PDT

The EURUSD is slowly moving higher today tracking the 100 bar MA in the process. The pair found earlier resistance against the 38.2% retracement of the move down from the May 20th high. That level comes in at the 1.41124 level. A move above this level will be needed to keep the bulls in charge. 
So the bias is bullish. The target at the 1.4112 level needs to be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Crawling Towards Resistance At 1526.50

Posted: 24 May 2011 05:58 AM PDT

Gold (XAU/USD)

Short-Term to Medium Term- Gold has been tentatively rallying from the 1470 support area.It is now nearing a resistance pivot at 1526.50.
- The RSI swinging back and forth from above 70 and below 30 reflects a ranging market.
- In a ranging market, when price and momentum is overstretched, we might have a reversion towards the "mean". Here we see the 200SMA as a pivot near 1500, which is also a psychological barrier. If the market can hold above this level, the market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Rises To 2-day High As Greece Eyed

Posted: 24 May 2011 05:53 AM PDT

Forex Pros – The euro climbed to a two-day high against the yen on Tuesday, but remained vulnerable to fresh losses as ongoing concerns over Greek sovereign debt kept investors on alert.<br /><br />EUR/JPY hit 115.74 during European afternoon trade, the pair&rsquo;s highest since Friday; the pair subsequently consolidated at 115.66, rising 0.40%.<br /><br />The pair was likely to find support at 113.86, Monday&rsquo;s low and a one-week low and resistance at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pound Deflects Weaker Data, Possible Downgrades To Key Banks

Posted: 24 May 2011 05:40 AM PDT

The Pound was resilient overnight and heading into the start of NY trading despite some softer data showing that public borrowing was more than expected in April.
From Bloomberg: "Britain posted its largest budget shortfall for any April since monthly records began in 1993 as tax revenue fell and spending climbed, casting doubt on whether the government can meet its deficit-reduction target this year.
Net borrowing was 10 billion pounds ($16.2 billion), compared with 7.2 billion pounds a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Higher Ahead Of Housing Data; Dow Up 0.2%

Posted: 24 May 2011 05:36 AM PDT

Forex Pros – U.S. stock futures pointed to a higher open on Tuesday, rebounding from the previous session&rsquo;s selloff, as shares in the commodity sector advanced and as investors awaited key data on new home sales.&nbsp; <br /><br />Dow Jones Industrial Average futures pointed a gain of 0.2%, the S&amp;P 500 futures rose 0.35%, while Nasdaq 100 futures indicated an increase of 0.25%.&nbsp;&nbsp;&nbsp; <br /><br />Shares in the commodity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Home Depot

Posted: 24 May 2011 05:35 AM PDT

The world’s largest home improvement retailer, The Home Depot Inc. (NYSE:HD), recently posted its first-quarter 2011 results. The street analysts had nearly a week to ponder on the news. In the subsequent paragraphs that follow, we will cover the recent earnings announcement, analysts’ estimate revisions as well as the Zacks Rank and long-term recommendation on the stock.
Quarterly Review
On May 17, 2011, Home Depot posted its first-quarter 2011 adjusted earnings of 50 cents a share. The adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rep. Michael Grimm (R-NY) Inducted Into Sense On Cents Hall Of Shame

Posted: 24 May 2011 05:17 AM PDT

Do you ever wonder how certain individuals in Washington might be so tone deaf as to miss the din and the roar of the American public screaming for increased transparency in our financial markets? Might these individuals be doing the bidding of the financial industry in return for the payoff of political campaign contributions?
How else could we explain why any individual in our nation today would promote a policy which would stifle the pursuit of badly needed transparency and real integrity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower As EZ Debt Jitters Continue

Posted: 24 May 2011 05:09 AM PDT

Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Tuesday, as the euro found support after a report showed that German business sentiment stabilized unexpectedly this month.<br /><br />During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.28% to hit 1.4087.<br /><br />Earlier Tuesday, the Ifo institute said German business confidence held steady in May, confounding expectations for a modest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Tentatively Rallies As German IFO Business Climate Index Beats Forecasts

Posted: 24 May 2011 05:03 AM PDT

The Euro managed to rally a bit overnight on the back of a stronger than expected reading of the Germany IFO Business Climate Index as well as the lack of fresh bad news from Greece and the periphery. Bond spreads for periphery nations eased after surging yesterday, and with European stocks paring a part of their overnight losses, the EUR managed to climb above the 1.41 level in overnight trading.
However, we did have some concerns spring up which capped the Euro's rally and that was the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Reacting After 50% Retracement

Posted: 24 May 2011 04:49 AM PDT

GBP/USD Breaks Below Rising Trendline after Dovish BoE Minutes (5/18)
GBP/USD

Short-Term to Medium Term- The GBP/USD started the week extending Friday's decline. However, the first US session supported the cable at 1.6060. There appears to be a reaaction here at 1.6177 near 50% retracement of the decline from 1.63 to 1.6060.
- The market remains bearish until a break above 1.6210, which opens up possibly a sideways market scenario.
- The RSI in the 1H chart is testing 60. The last few … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Trims Gains After Greece Rejects Austerity Plan

Posted: 24 May 2011 04:36 AM PDT

Forex Pros – The pound pulled back from a daily high against the U.S. dollar on Tuesday, tracking the euro lower after the leader of Greece&rsquo;s main opposition party rejected the country’s new austerity plan.<br /><br />GBP/USD retreated from 1.6178, the daily high to hit 1.6144 during European afternoon trade, still up 0.13% on the day.<br /><br />Cable was likely to find support at 1.5970, the low of April 1 and resistance at 1.6232, Monday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Britain’s CBI Realized Sales Fall Less-than-expected

Posted: 24 May 2011 04:35 AM PDT

Forex Pros – Retail sales in Britain declined less-than-expected in May, industry data showed on Tuesday.<br /><br />In a report, the Confederation of British Industry said the result of its index of U.K. retailers fell to 18 in May, after rising to 21 in April.<br /><br />Analysts had expected the index to fall to 11 in May. <br /><br />On the index, a reading above zero indicates higher sales volume, below indicates lower.&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Conygar On The Lookout For Deals As Interim NAV Improves 2.7%

Posted: 24 May 2011 01:00 AM PDT

Conygar Investment Company (LON:CIC) announced interim results this morning with core NAV increasing by 2.7% over the interim period to 154p per share; a premium of 30.5% to the current share price of 118p. Excluding disposals, the underlying profit increased to £3.4m from £1.1m in the prior period  with the company citing cost cutting and reduced financing costs as key drivers.
During the period the company acquired 86 acres of land in Pembrokeshire for £14m to add to its significant … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex News – Improved Sentiment Yet With Caution

Posted: 23 May 2011 11:08 PM PDT

By ForexMansion.com
 
As the European debt crisis intensifies, equities tend to widen their losses. However as commodities rallied, the Asian and European markets were brought higher today, and the dollar index to the lowest at 75.92 as of this report.
The euro and the pound recovered some losses today against the US dollar, after the commodities rallied following Goldman Sachs Group Inc. advice to buy oil, copper and zinc as demand from emerging markets may increase.
That was enough to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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