Friday, May 13, 2011

DailyMarkets.com - Monetary Policy Week In Review – 14 May 2011

DailyMarkets.com - Monetary Policy Week In Review – 14 May 2011

Monetary Policy Week In Review – 14 May 2011

Posted: 13 May 2011 04:20 PM PDT

The past week saw monetary policy decisions announced by 12 different central banks around the world.  Those that increased interest rates were: Azerbaijan +25bps to 5.25% Poland +25bps to 4.25% Norway +25bps to 2.25% Peru +25bps to 4.25% and Chile +50bps to 5.00%.  Meanwhile Ghana was the only country that eased policy, cutting rates 50bps to 13.00%.  Those that held rates unchanged were: Indonesia 6.75% South Africa 5.50% Latvia 3.50% and South Korea 3.00%.  Besides … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ProAssurance Upped To Outperform

Posted: 13 May 2011 04:02 PM PDT

On the back of strong first-quarter results, we recently upgraded ProAssurance Corporation (NYSE:PRA) to Outperform.
The company reported its first-quarter earnings on the heels of enhanced shareholder value through share buybacks. Further, the company’s financial strength, unrivaled expertise in claims handling, skilled underwriting, and innovative risk management has provided significant support in the changing healthcare scenario.
ProAssurance recently completed the acquisition of  the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Luminex Stays At Neutral

Posted: 13 May 2011 04:02 PM PDT

We maintain our Neutral recommendation on Luminex Corporation (NASDAQ:LMNX). Revenues and earnings for first-quarter fiscal 2011 topped the Zacks Consensus Estimates. Profit more than doubled year over year on the back of solid top line growth.
Revenues surged 30% year over year in the quarter led by strong consumables and assay sales. Consumable revenues propelled 53% to touch a new quarterly record (of $15 million), boosted by strong demand from the company's major partners.
Healthy shipments of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ventas Completes Atria Acquisition

Posted: 13 May 2011 03:32 PM PDT

Ventas, Inc. (NYSE:VTR) a leading health care real estate investment trust has recently completed the acquisition of 118 private senior housing communities of privately-owned Atria Senior living Group for $3.1 billion.
Before the closing of this deal, Atria senior living group spun off its management business to Atria senior living, Inc. (Atria), a new company which will continue the management of the acquired properties.
Based in Louisville, Kentucky, Atria is the fourth largest operator of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Friday The 13th Somewhat Scary In The Markets

Posted: 13 May 2011 03:18 PM PDT

Cusick’s Corner
Here’s something to look at over the weekend, check out options volatility ahead of earnings. Log into your optionsXpress account and check out the Volatility View chart, plus go to our Options Chains to see the Implied Volatility & Greeks on a strike-by-strike basis. Stocks coming out with earnings next week – like CHS, HD and WMT are experiencing higher implied volatility. I will talk about this tomorrow at our optionsXpress Workshop which we will be simulcasting live … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Picks For Week Of May 16th

Posted: 13 May 2011 03:17 PM PDT

Hello everyone!!! Please accept my apologies for missing the update on Thursday, this was due to a problem on Google servers that kept me from doing any update, i even tried this morning but the service was still under maintenance. Fortunately the problem was already solved by the engineers of Google that worked hard to return Blogger to normal and I'm here again to share my thoughts for next week. Thanks for your understanding.

( click to enlarge )

It was another volatile week for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

LabCorp Reiterated At Neutral

Posted: 13 May 2011 03:02 PM PDT

Recently, we reiterated Neutral recommendation on Laboratory Corporation of America Holdings (NYSE:LH) with a target price of $105.
LabCorp reported an adjusted EPS of $1.52 (excluding amortization, restructuring and other special charges) for the first quarter of fiscal 2011. That was way above the Zacks Consensus Estimate of $1.44 and the previous year’s adjusted EPS of $1.40.
Revenues increased 14.6% year over year to $1,368.4 million, ahead of the Zacks Consensus Estimate of $1,325 million. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Itron’s OpenWay Broadens

Posted: 13 May 2011 03:02 PM PDT

Itron Inc. (NASDAQ:ITRI) announced that it has been selected by DTE Energy Co. (NYSE:DTE), energy provider to 2.1 million electric customers in Southeastern Michigan, along with another company Tropos Networks, for its $168 million SmartCurrents program.
DTE's SmartCurrents program is a first smart grid program targeted at modernizing the electric grid, along with improving the reliability and efficiency of the distribution system and also keeping the customers informed about their power usage. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MEMC, Flextronics In Solar Deal

Posted: 13 May 2011 02:32 PM PDT

A leading provider of semiconductor and solar chips, MEMC Electronic Materials Inc. (NYSE:WFR) recently announced the extension of an agreement with the Electronics Manufacturing Services (EMS) provider Flextronics International Ltd. (NASDAQ:FLEX). Under the extended agreement, MEMC Singapore and Flextronics will combine forces to fabricate solar panels for SunEdison, a subsidiary of MEMC. Financial terms of the deal were not disclosed.
The initial agreement, signed in December 2010, entailed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

1Q Loss Narrows At Allos

Posted: 13 May 2011 02:32 PM PDT

Allos Therapeutics Inc.'s (NASDAQ:ALTH) first quarter 2011 loss of $0.14 was narrower than the Zacks Consensus Estimate of a loss of $0.15 per share. The year-ago loss was $0.20 per share. The lower loss per share was attributable to higher revenues and lower operating expenses recorded in the first quarter of 2011.
Quarterly Results
Net product sales (revenues) in the reported quarter climbed 47% to $10.9 million. Revenues fell short of the Zacks Consensus Estimate of $12 million. The entire … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Waste Management Invests In Agnion

Posted: 13 May 2011 02:32 PM PDT

Waste Management Inc. (NYSE:WM) announced a strategic investment in Agnion Energy Inc. to support the latter's allothermal gasification technology. Agnion’s technology complements Waste Management’s advancement of thermo-chemical conversion technology platforms and could enhance its waste processing options.  
Waste Management joins other investors in Agnion including, Kleiner Perkins Caufield Byers, Munich Venture Partners and Wellington Partners. Agnion’s allothermal gasification … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Enbridge Adds $286M For Line 6B

Posted: 13 May 2011 02:32 PM PDT

Houston-based Enbridge Energy Partners, L.P. (NYSE:EEP) announced plans to spend $286 million to replace a portion of its disturbed Line 6B pipeline system, which ruptured last year. The venture, comprising the replacement of 75 miles of the pipeline in areas of Indiana and Michigan, is subject to regulatory approval.
Last July, Line 6B burst near Marshall, Michigan, spilling gallons of heavy crude oil into the Kalamazoo River. In the aftermath of the incident, Enbridge has already replaced 14 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: YHOO, DF, RMBS

Posted: 13 May 2011 02:20 PM PDT

05/13/11 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

Chile Central Bank Increases Rate 50bps To 5.00%

Posted: 13 May 2011 02:13 PM PDT

The Banco Central de Chile increased its monetary policy interest rate by 50 basis points to 5.00% from 4.50% previously.  The Bank said: “The Board estimates that additional increases in the monetary policy rate will be necessary, the timing and the magnitude depending on the unfolding of domestic and external macroeconomic conditions. Accordingly, it will continue to use its policies with flexibility so that projected inflation stands at 3% over the policy horizon.”  The Bank said … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down At The End Of U.S. Session

Posted: 13 May 2011 02:10 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4119, down 0.89% at time of writing.<br/><br/> The pair was likely to find support at 1.4067, today&rsquo;s low, and resistance at 1.4442, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down At The End Of U.S. Session

Posted: 13 May 2011 02:05 PM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Friday.<br/><br/> GBP/USD was trading at 1.6197, down 0.58% at time of writing.<br/><br/> The pair was likely to find support at 1.6147, today&rsquo;s low, and resistance at 1.6517, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.31% to hit 0.8716 and GBP/JPY falling 0.77% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q1 Results Better Than Expected

Posted: 13 May 2011 02:04 PM PDT

Brian Marckx, CFA
Q1 RESULTS

Interleukin Genetics (ILIU) reported financial results for the first quarter ending March 31, 2011 on May 12, 2011.  The reported numbers bested our estimates on the top-line, gross margin, operating expense control and net income/EPS.     

Revenue
Q1 revenue of $720k beat our $485k estimate and consisted almost entirely of revenue from genetic testing.  Revenue grew 95% y-o-y and was up 41% from Q4 2010, breaking the streak of q-o-q … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MEMC, Flextronics In Solar Deal

Posted: 13 May 2011 02:04 PM PDT

A leading provider of semiconductor and solar chips, MEMC Electronic Materials Inc. (NYSE:WFR) recently announced the extension of an agreement with the Electronics Manufacturing Services (EMS) provider Flextronics International Ltd. (NASDAQ:FLEX). Under the extended agreement, MEMC Singapore and Flextronics will combine forces to fabricate solar panels for SunEdison, a subsidiary of MEMC. Financial terms of the deal were not disclosed.
The initial agreement, signed in December 2010, entailed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MEMC, Flextronics In Solar Ties

Posted: 13 May 2011 02:03 PM PDT

A leading provider of semiconductor and solar chips, MEMC Electronic Materials Inc. (NYSE:WFR) recently announced the extension of an agreement with the Electronics Manufacturing Services (EMS) provider Flextronics International Ltd. (NASDAQ:FLEX). Under the extended agreement, MEMC Singapore and Flextronics will combine forces to fabricate solar panels for SunEdison, a subsidiary of MEMC. Financial terms of the deal were not disclosed.
The initial agreement, signed in December 2010, entailed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Medco Remains At Neutral

Posted: 13 May 2011 02:03 PM PDT

Recently, we reiterated our Neutral recommendation on Medco Health (NYSE:MHS) with a target price of $67.00.
Medco reported an adjusted EPS of 91 cents in the first quarter of fiscal 2011, beating both the Zacks Consensus Estimate of 88 cents and the year-ago EPS of 76 cents.
Revenues increased 4.3% year over year to $17.0 billion in the quarter primarily driven by contributions from significant client wins as well as higher prices charged on branded drugs, partially offset by higher volumes of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forest To Present COPD Data

Posted: 13 May 2011 02:03 PM PDT

Forest Laboratories, Inc. (NYSE:FRX) and Almirall recently announced that they will be presenting additional data on their chronic obstructive pulmonary disease (COPD) candidate, aclidinium bromide, from the phase III ATTAIN study. Data will be presented at the upcoming annual meeting of the American Thoracic Society.
Forest Labs and Almirall had presented positive results on aclidinium bromide from ATTAIN earlier this year. The study compared the safety and efficacy of aclidinium bromide (200μg … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down At The End Of U.S. Session

Posted: 13 May 2011 02:00 PM PDT

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on CPI.<br/><br/> USD/JPY was trading at 80.79, down 0.19% at time of writing.<br/><br/> The pair was likely to find support at 80.16, Monday&rsquo;s low, and resistance at 81.32, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that consumer price inflation in the U.S. rose to a seasonally adjusted 0.4% last month, from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Reserve Bank Of Peru Lifts Rate 25bps To 4.25%

Posted: 13 May 2011 01:56 PM PDT

The Central Reserve Bank of Peru raised its monetary policy reference rate 25 basis points to 4.25% from 4.00% previously.  The Bank said: “This measure is aimed at offsetting the impact of the rise in the international prices of food and fuels on inflation expectations, in a context of high growth of domestic demand. Future adjustments in the reference rate will depend on new information on the evolution of inflation and its determinants.”  Peru reported annual inflation of 3.34% in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Market-Based Medicine: MediBid

Posted: 13 May 2011 01:50 PM PDT

The website MediBid describes itself as a new “Marketplace for Self Pay Patients to Find a Doctor or Other Medical Specialist and Deal Direct,” and here’s some info:

“Patients can find a doctor, family physician, chiropractor, dermatologist, surgeon, dentist, or any other medical specialist on MediBid.  The process is simple; patients register as “Seekers” and post a secure, private request for medical care for anything from acupuncture to total knee replacement surgery or stem cell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Of Ghana Cuts Rate 50bps To 13.00%

Posted: 13 May 2011 01:41 PM PDT

The Bank of Ghana reduced its key lending rate by 50 basis points to 13.00% from 13.50% previously.  The Bank said: “Price developments over the past four months suggest diminishing inflation expectations following the rise in inflation in January after increases in the domestic price of petrol. The threats to inflation have diminished due to better domestic production of food and weak second round effects of the petroleum price adjustment.”  Ghana reported inflation of 9.0% in April, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 13 May 2011 01:40 PM PDT

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Friday.<br/><br/> USD/JPY was trading at 80.86, down 0.10% at time of writing.<br/><br/> The pair was likely to find support at 80.16, Monday&rsquo;s low, and resistance at 81.32, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 1.03% to hit 1.4099 and GBP/USD falling 0.67% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

WFSL Lowered To Underperform

Posted: 13 May 2011 01:32 PM PDT

We are downgrading our recommendation on Washington Federal Inc. (NASDAQ:WFSL) to Underperform from Neutral based on the pressure on net interest margin (NIM) and its lag with respect to deposit re-pricing.
Washington Federal's fiscal second quarter (ended March 31, 2011) earnings came in at 23 cents per share, 2 cents shy of the Zacks Consensus Estimate.  
Results for the reported quarter primarily benefited from increased interest income, lower expenses and a substantial drop in provision … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ELP: Encouraging 1Q Results

Posted: 13 May 2011 01:32 PM PDT

Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL, reported its financial results for the first quarter of 2011. Net income in the quarter increased 20.5% year over year to R$384.8 million (US$231.8 million), or R$1.41 per share (US$1.70 per ADR). The year-over-year momentum was driven by higher revenues, which were partially offset by higher expenses in the year.
Revenue
In the first quarter, net operating revenues surged 11.3% year over year to R$1,826.2 million (US$1,100.1 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MannKind Evenly Poised

Posted: 13 May 2011 01:32 PM PDT

We are maintaining our Neutral stance on MannKind Corporation (NASDAQ:MNKD) with a target price of $4.25.
Valencia, California-based MannKind is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes, cancer and inflammatory and autoimmune diseases. The company's lead pipeline candidate Afrezza is an inhaled insulin for the treatment of type I or type II diabetes.
In January 2011, MannKind received a setback when the US Food and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 13 May 2011 01:25 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Friday.<br/><br/> EUR/USD was trading at 1.4097, down 1.05% at time of writing.<br/><br/> The pair was likely to find support at 1.4067, today&rsquo;s low, and resistance at 1.4442, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.37% to hit 0.8712 and EUR/JPY falling 1.12% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Lower; Dow Jones Down 0.79%

Posted: 13 May 2011 01:10 PM PDT

Forex Pros – U.S. stocks were down after the closing bell on Friday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average fell 0.79%, the S&P 500 index shed 0.81%, while the Nasdaq 100 index declined 1.19%.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 72.4 last month from 69.8 in the preceding month.<br/><br/>Analysts had expected UoM consumer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Constellation Acquiring MXenergy

Posted: 13 May 2011 01:02 PM PDT

Constellation Energy Group, Inc. (NYSE:CEG) has agreed to acquire MXenergy in an all-cash transaction for a total base purchase price of $175.0 million. MXenergy's 100.0% equity is currently owned by a number of large institutional investors among others. Constellation will purchase all of MXenergy assets subject to shareholder and regulatory approvals.
At closing, the shareholders of MXenergy are expected to receive cash in the range of $3.00–$3.28 per share. Additionally, they are expected … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ViroPharma Inks Deal With Halozyme

Posted: 13 May 2011 12:57 PM PDT

ViroPharma Inc. (NASDAQ:VPHM) recently announced that it has entered into a global licensing deal with Halozyme Therapeutics, Inc. (NASDAQ:HALO), for using the latter's rHuPH20 (recombinant human hyaluronidase) in the development of a subcutaneous formulation of Cinryze.
As per the terms of the agreement, ViroPharma will make an upfront payment of $ 9 million to Halozyme. Halozyme is also entitled to receive up to $74 million as milestone payments upon the achievement of certain clinical and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SunPower Misses Zacks Estimates

Posted: 13 May 2011 12:57 PM PDT

SunPower Corporation's (SPWRA) first quarter 2011 adjusted earnings of a penny per share came in below the Zacks Consensus Estimate of 6 cents. However, earnings were way ahead of the year-ago loss of 4 cents per share.
On a reported basis the company posted a loss of 2 cents per share versus earnings of 13 cents in the year-ago quarter. The downside came from increased expenses and lower income tax benefits year over year.
Operational Results
SunPower generated revenues of $451.4 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down During The U.S. Session

Posted: 13 May 2011 12:45 PM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on CPI.<br/><br/> GBP/USD was trading at 1.6185, down 0.65% at time of writing.<br/><br/> The pair was likely to find support at 1.6147, today&rsquo;s low, and resistance at 1.6517, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that consumer price inflation in the U.S. rose to a seasonally adjusted 0.4% last month, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BRE Completes Secondary Offering

Posted: 13 May 2011 12:32 PM PDT

BRE Properties Inc. (NYSE:BRE), a real estate investment trust (REIT) that operates apartment communities, has recently completed its secondary offering of 9.2 million common shares at $48.00 each, including 1.2 million shares purchased by the underwriters to fully cover the over-allotment options.
BofA Merrill Lynch, the investment banking and wealth management division of Bank of America Corporation (BAC); J.P. Morgan Securities LLC, the investment banking division of JPMorgan Chase & Co. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 13 May 2011 12:10 PM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday.<br/><br/> USD/CAD was trading at 0.9684, up 0.58% at time of writing.<br/><br/> The pair was likely to find support at 0.9514, Wednesday&rsquo;s low, and resistance at 0.9744, today&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.93% to hit 1.4113 and GBP/USD falling 0.67% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

OVA1 Test More Effective

Posted: 13 May 2011 12:02 PM PDT

Recently, a study published in the online edition of Obstetrics & Gynecology demonstrated the effectiveness of OVA 1 blood test. According to the guidelines of American College of Obstetrics and Gynecology (ACOG), OVA1 blood test can better detect whether the ovarian mass is cancerous compared to the currently recommended CA 125 blood test.
OVA1 is the first test cleared by the US Food and Drug administration (FDA) to help check whether a woman's ovarian mass is carcinogenic or not prior … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MDV3100 In New Phase II Study

Posted: 13 May 2011 12:02 PM PDT

Medivation, Inc. (NASDAQ:MDVN) and Astellas Pharma, Inc. recently announced the initiation of a phase II study with their prostate cancer candidate, MDV3100. The study will evaluate MDV3100 as a monotherapy in hormone-naïve prostate cancer patients.
The open-label, single-arm study (n=60) is being conducted in Europe. MDV3100 is currently in another phase II (head-to-head) study (TERRAIN), which is comparing MDV3100 with AstraZeneca's (NYSE:AZN) Casodex (bicalutamide).
In addition to these two … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Big Oil’s Big Tax Break Debate

Posted: 13 May 2011 12:02 PM PDT

Amid public outcry over high gasoline prices and soaring industry profit, executives of the five largest private oil companies in the U.S. were summoned before the Senate on Thursday to justify billions of dollars in special tax breaks provided to them by the government.
CEOs from ExxonMobil Corp. (XOM), Chevron Corp. (CVX), ConocoPhillips (COP), BP plc (BP) and Royal Dutch Shell plc (RDS.A) – collectively known as 'Big Oil' – were quizzed why these taxpayer subsidies (amounting to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 13 May 2011 11:45 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4109, down 0.96% at time of writing.<br/><br/> The pair was likely to find support at 1.4067, today&rsquo;s low, and resistance at 1.4442, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Energy ETF Options Portend Tough Times Ahead, But Smooth Sailing To Follow

Posted: 13 May 2011 11:44 AM PDT

Energy ETF options portend tough times ahead, but smooth sailing to follow
Today's tickers: XLE, LIZ, NE & CBST
(XLE) – Energy Select Sector SPDR Fund – Two massive transactions in XLE options today suggest nearer-term pessimism on the energy sector and longer-term optimism. Shares in the fund started the session in positive territory, but the rally proved to be short-lived as shares are currently trading 0.60% lower on the day at $73.72 just before 12:50pm. The XLE, an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

For Many Items, Prices Are Falling Not Rising

Posted: 13 May 2011 11:43 AM PDT

                         Item
% Change
   Last Year    

TVs
-16.26%

Software
-9.23%

Computers
-7.95%

Toys
-5.46%

Photographic Equipment, Supplies
-4.69%

Audio Equipment
-3.91%

Sports Equipment
-3.89%

Clothing: Infant and Toddler
-3.56%

Cell Phone Service
-3.50%

Audio Disks
-3.17%

Leased Cars and Trucks
-2.98%

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

Evergreen Posts Higher Losses

Posted: 13 May 2011 11:27 AM PDT

Massachusetts-based Evergreen Solar Inc. (NASDAQ:ESLR) reported first-quarter 2011 adjusted loss per share of $1.21, more than double the year-ago quarterly loss of 60 cents per share. Results also missed the Zacks Consensus Estimate of a loss of 68 cents.
On a reported basis, the company digested a loss of 93 cents versus a loss of 70 cents in the year-ago quarter.
Operational Results
Revenues for the first quarter of 2011 were $35.3 million, down 60.4% sequentially compared to fourth quarter of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Dick’s Sporting Goods

Posted: 13 May 2011 11:27 AM PDT

Dick’s Sporting Goods Inc. (DKS) is scheduled to release its first-quarter 2011 results on Tuesday, May 17, 2011. The Zacks Consensus Estimate is 29 cents a share for the first quarter of fiscal 2011. This represents a year-over-year estimated growth of 31.8%.
Fourth Quarter Performance      
Dick’s Sporting Goods posted strong fourth quarter 2010 results, ended January 29, 2011, on the heels of higher sales and improved margins. Quarterly earnings climbed to 76 cents a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: HCN

Posted: 13 May 2011 11:27 AM PDT

Health Care REIT Inc. (NYSE:HCN), a leading healthcare real estate investment trust (REIT) that operates senior housing and health care real estate, reported fiscal 2011 first quarter recurring funds from operations (FFO) of 70 cents per share, which beat the Zacks Consensus Estimate by a penny. Fund from operations, a widely used metric to gauge the performance of REIT, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
We cover below the results of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Inflation Fears Are Still Largely Unfounded

Posted: 13 May 2011 11:21 AM PDT

Core inflation and service-sector inflation are still far below long-run averages.

The BLS reported today that annual headline inflation increased to 3.2% in April, the highest rate since October 2008.  Core inflation increased at a 1.3% annual rate, and the CPI inflation for services is 1.5% (see chart above). Most of the increase in headline inflation was from a 19% annual increase in the overall energy index, and a 33.1% increase in the gasoline index.  Based on the relatively … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Focus Is On Dollar & Greece

Posted: 13 May 2011 11:19 AM PDT

Cusick’s Corner
Stocks are in the red this Midday after some decent GDP numbers in the EU. But the focus is on the Dollar and the potential implications of a worsening situation in Greece. I know that I have been talking about this all week, but at this stage in the game this is really the focal point for the market. We saw this situation arise a few months back and the market responded to the upside. As the dust settles and as the banks, financials are getting to their lows, figure out their … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 13 May 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday.<br/><br/> AUD/USD was trading at 1.0583, down 0.89% at time of writing.<br/><br/> The pair was likely to find support at 1.0521, today&rsquo;s low, and resistance at 1.0889, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.03% to hit 1.3338 and AUD/JPY falling 1.10% to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Caterpillar Big On Brazil

Posted: 13 May 2011 11:02 AM PDT

Caterpillar Inc. (NYSE:CAT) in line with its strategy to capitalize on the projected economic boom in Brazil is planning a new operation for packaging generator sets and diesel electric propulsion systems at its Piracicaba, Sao Paulo facility to cater to marine and petroleum customers in the largest country in South America. Operations to package 3500C series engines will begin in the third quarter of 2011.
The 3500C series packages for diesel electric propulsion and marine auxiliary power have a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Dick’s Sporting

Posted: 13 May 2011 11:02 AM PDT

Dick’s Sporting Goods Inc. (DKS) is scheduled to release its first-quarter 2011 results on Tuesday, May 17, 2011. The Zacks Consensus Estimate is 29 cents a share for the first quarter of fiscal 2011. This represents a year-over-year estimated growth of 31.8%.
Fourth Quarter Performance      
Dick’s Sporting Goods posted strong fourth quarter 2010 results, ended January 29, 2011, on the heels of higher sales and improved margins. Quarterly earnings climbed to 76 cents a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

German GDP Expands 1.5%

Posted: 13 May 2011 10:45 AM PDT

05/13/11 The German economy, Europe’s biggest, grew by 1.5% in the 1Q helped by a boost in investment and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down During The U.S. Session

Posted: 13 May 2011 10:45 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Friday.<br/><br/> NZD/USD was trading at 0.7868, down 1.09% at time of writing.<br/><br/> The pair was likely to find support at 0.7837, today&rsquo;s low, and resistance at 0.7991, Thursday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.11% to hit 1.3436 and EUR/NZD rising 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chevron Upgraded To Outperform

Posted: 13 May 2011 10:42 AM PDT

With the economic rebound showing signs of strengthening and oil prices rallying, we expect integrated oil companies such as Chevron Corporation (NYSE:CVX) to continue to accelerate revenue and earnings growth over the next few quarters.
Apart from the economic recovery, Chevron's recent results have also benefited from its operational and production efficiency and contributions from large, multiyear growth programs.
In the recently reported first quarter results, Chevron reported a jump in its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Oil…long Way To Go On Downside”

Posted: 13 May 2011 05:40 AM PDT

05/13/11 Sunrise Securities’ Ben Willis discusses falling crude oil prices, Euro-zone debt concerns and interest rate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Varian Medical

Posted: 13 May 2011 10:32 AM PDT

Oncology and X-Ray products company, Varian Medical Systems (NYSE:VAR), reported second-quarter (ended March) fiscal 2011 earnings per share from continuing operations of 86 cents, just beating the Zacks Consensus Estimate of 85 cents and exceeding the year-ago figure of 73 cents. Profit increased 13.2% year over year to $103.1 million, benefiting from rising sales of both oncology systems and X-Ray products.
Second Quarter Highlights
Varian's top line witnessed an 11% year-over-year increase to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Micromet Misses On Both Lines

Posted: 13 May 2011 10:32 AM PDT

Micromet Inc.'s (MITI) first quarter 2011 loss per share came in at 9 cents (including special items), much narrower than the year-ago loss of 26 cents per share. After adjusting for the change in fair value of warrants, the company reported a loss per share of 20 cents, less than the year-ago post adjustment loss of 34 cents per share. The loss was, however, wider than the Zacks Consensus Estimate of a loss of 17 cents due to lower revenues. The narrower loss from the prior year was due to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Blogger Snafu

Posted: 13 May 2011 10:05 AM PDT

Blogger has been down since last night, and just started working again.  Several of the most recent posts have been lost, and I’m not sure if they’ll be restored. 

New posts will resume shortly. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Toyota Delays Prius Deliveries

Posted: 13 May 2011 10:02 AM PDT

Toyota Motor Corp. (NYSE:TM) revealed that deliveries of the latest version of its popular gas-electric hybrid, Prius, will be delayed by a year due to a shortage in supply of batteries on the back of earthquake and tsunami in Japan on March 11 that damaged many parts supplying companies' plants. The revamped version, Prius Alpha, had been initially set for launch in April this year.
Prius Alpha will be sold in both 5-seater and 7-seater versions. The 5-seater version will be sold in North … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CCC Makes Deal For Ohio Storage

Posted: 13 May 2011 10:02 AM PDT

Calgon Carbon Corporation (NYSE:CCC) received $1.35 million from the Ohio Third Frontier for the development and commercialization of advanced activated carbons for energy storage. As per the program, Calgon Carbon will focus on developing and manufacturing the first domestic source of activated carbon specifically designed for the ultracapacitor energy storage industry.
 Over the long term, Calgon Carbon expects to develop advanced activated carbons for ultracapacitor storage that are both … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ZOLL’s LifeVest Tops 40K

Posted: 13 May 2011 10:02 AM PDT

Resuscitation devices maker ZOLL Medical (NASDAQ:ZOLL) has achieved another major milestone for its flagship LifeVest wearable defibrillator as the device has been prescribed to over 40,000 patients at high risk of sudden cardiac arrest ("SCA") by their physicians.
Moreover, LifeVest has been reportedly prescribed at all the top hospitals in each of the 52 metropolitan areas in the U.S. The achievement underscores the sustained adoption of the device for treating SCA.
SCA, an abrupt loss of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nordstrom Profits Surge, Revs Short

Posted: 13 May 2011 10:02 AM PDT

Nordstrom Inc. (NYSE:JWN) posted earnings growth of 32.7% to reach 69 cents a share in the first quarter of fiscal 2011 from 52 cents per share earned in the year-ago period. Earnings per share beat the Zacks Consensus Estimate of 67 cents a share.
Quarterly Details
Nordstrom's same-store sales and top-line trends were also encouraging. Total revenue grew 12.0% to $2,229 million from $1,990 million in the prior-year period on the heels of a 6.5% growth in same-store sales. Total revenue however … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down In U.S. Trade

Posted: 13 May 2011 10:00 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on CPI.<br/><br/> GBP/USD was trading at 1.6185, down 0.65% at time of writing.<br/><br/> The pair was likely to find support at 1.6147, today&rsquo;s low, and resistance at 1.6517, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that consumer price inflation in the U.S. rose to a seasonally adjusted 0.4% last month, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Strong Risk Aversion Dominates To End The Week

Posted: 13 May 2011 09:58 AM PDT

Traders felt that after a turbulent 2 weeks, with lower commodities, fears of restructuring Greek debt, some concerns about higher global interest rates, we're going into the weekend with traders shedding risk.
Primarily weaker US equities are driving it, and commodities and oil have faltered. And, the lingering worries over Greece just means that the risk sentiment has turned away from higher yielders (EUR, GBP) and commodity currencies (AUD, CAD, NZD) and towards safe havens (USD, JPY, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

TSS And Caledon Join Hands

Posted: 13 May 2011 09:57 AM PDT

Expanding its merchant service solutions, on Tuesday, Total System Services Inc. (NYSE:TSS) announced a strategic alliance with Caledon Card Services in Canada, in an attempt to provide end-to-end solutions for its merchants and partners. However, terms of the deal remain concealed.
Caledon is a payments technology provider in the rapidly growing eCommerce, tokenization and card-not-present areas. Meanwhile, the partnership is expected to help boost Total System's market presence and its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Inflation STILL Tame

Posted: 13 May 2011 09:57 AM PDT

The Consumer Price Index (CPI) rose by 0.4% in April, down from its 0.5% rise in both March and February. Year over year it is up 3.2%. It was slightly below the consensus expectation of a 0.5% increase.

Looking a little bit deeper, the problem is mostly with energy, and to a lesser extent food prices. Energy prices surged 2.2% on top of a 3.5% increase in March and a 3.4% rise in February. Overall energy prices are up 19.0% year over year. Actually the increase is even narrower than that, as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Lower; Dax Down 0.55%

Posted: 13 May 2011 09:55 AM PDT

Forex Pros – European stocks were down after the closing bell on Friday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.55%, London&rsquo;s FTSE 100 shed 0.32%, France&rsquo;s CAC 40 declined 0.11% and the EURO STOXX 50 was down 0.77%.<br/><br/> Earlier in the day, preliminary official data showed that Gross domestic product in the euro zone rose more-than-expected to a seasonally adjusted 0.8% in the last quarter from 0.3% in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Rebounds During A Volatile Trading Session

Posted: 13 May 2011 04:45 AM PDT

05/13/11 The US dollar posted quite the rebound this afternoon following an earlier drop against the euro as investors remain concerned with the state of the global economy and volatile commodity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Should I Buy A Home Warranty In Raleigh?

Posted: 13 May 2011 09:44 AM PDT

Alphonso wants to buy a house in Raleigh.  Should he buy a home warranty?  Some love them, some hate them.  What do you guys think?
Irwin explains that a home warranty is a service contract on appliances and home systems.  Home systems include plumbing, wiring, etc.  They will repair or replace the item.  Roofs are not usually covered.  I heard they cost between $300 – $600 a year.  Don't confuse a home warranty with homeowners insurance.
Company may … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wal-Mart Buys Minority Stake In Online Sales Company Yihaodian

Posted: 13 May 2011 03:15 AM PDT

05/13/11 In an attempt to tap into growing online sales in Chinese, Wal-Mart Stores Inc. is buying a minority stake in online company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

London Stock Exchange Confident On Progress As New Issues Rise

Posted: 13 May 2011 07:04 AM PDT

London Stock Exchange (LON:LSE) , the FTSE 250 financial group that runs London's main stock exchanges, said Friday that total income had risen by 7% to £674.9m last year and that it was encouraged by the near-term outlook. Adjusted operating profit increased by 22% to £341.1m in the year to March 31, with the pre-tax figure up 65% to £238.2m. It said that further progress this year would be reliant on developing growth opportunities, especially in the areas of Post Trade, Derivatives and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Of Korea Maintains 7-day Repo Rate At 3.00%

Posted: 13 May 2011 04:28 AM PDT

The Bank of Korea maintained the 7-day repurchase rate unchanged at 3.00%.  South Korea reported consumer price inflation of 4.2% in April, above the Bank’s inflation target of 2%-4% through 2012.  The Bank forecasts inflation of 3.9% and GDP growth of 4.5% during 2011.  The Bank said: “Looking ahead, the Committee, while taking overall account of financial and economic conditions both at home and abroad, will conduct monetary policy with a greater emphasis on ensuring that the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Norwegian Central Bank Hikes Rate 25bps To 2.25%

Posted: 13 May 2011 04:17 AM PDT

The Norges Bank increased its key policy rate by 25 basis points to 2.25% from 2.00% previously.  The Bank said: “The upturn in the Norwegian economy has gained a firm footing. Several other central banks have raised their key rates. The consideration of stabilising activity and inflation somewhat further ahead suggests that the key policy rate should be raised”.  The Bank noted that the oil rich Norwegian economy saw underlying inflation of “1¼ – 1½ per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Latvian Central Bank Holds Rate At 3.50%

Posted: 13 May 2011 04:12 AM PDT

Latvijas Banka maintained the refinancing rate unchanged at 3.50%.  Latvia reported inflation of 4.5% in April, with the Bank noting: “The rise in inflation at the beginning of the year is determined by supply side factors and administrative decisions, such as the raising of taxes,”.  The Bank also said: “Taking into account the gradual recovery of the economy and the fact that the current inflation risk factors are not related to a rise in demand and risks to price stability in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

South African Central Bank Holds Rate At 5.50%

Posted: 13 May 2011 04:08 AM PDT

The South African Reserve Bank maintained the repo rate unchanged at 5.50% despite a rise in “cost-push” inflation.  The Bank said: “…the inflation outlook has deteriorated further, mainly as a result of external cost-push factors.  Underlying demand conditions remain relatively restrained, and are not seen to pose a significant risk to the inflation outlook at this stage. However there are elevated risks that these external price shocks could ultimately feed through to more … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Petrel Resources Making Applications In Iraqi Hydrocarbon Licensing Round

Posted: 13 May 2011 03:49 AM PDT

Petrel Resources (LON:PET) , the AIM quoted oil and gas company run by Irish resources entrepreneur John Teeling, has received the final US$2.5m it is owed under a settlement deal related to the Subba and Luhais oil field development in Iraq. Petrel first got involved in the field in September 2005 when, together with its partners, it won a development services contract with the Iraq Ministry of Oil to develop existing reserves to raise production from under 50,000 barrels of oil daily to over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Citigroup And Toyota Review

Posted: 13 May 2011 02:47 AM PDT

In previous posts we reviewed Citigroup and Toyota. Both stocks did not have great price per time return (ie Gann Angle studies), we had them on ‘watch’ to see if they avoided the rocks! This is how they turned out.

Citigroup(C): The bulls just didnt even turn up, worse they gave up under the 200 SMA. RTT TrendPower confirmed that there were no serious mark up days, and RTT TrendStatus is just a mess,  therefore no reason to get long. But we are watching this one for a snap back, maybe … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Visiting A West African Gold Mine

Posted: 12 May 2011 10:00 PM PDT

This week I'm back on the continent of Africa. Along with 20 analysts from investment firms around the world, I spent a total of 17 hours traveling to Tasiast, Mauritania, kicking the tires and checking out Kinross Gold's open pit operations there.
Kinross is among the top 10 gold mining production companies in the world. According to the CPM Gold Yearbook 2011, the company produced 2.2 million troy ounces of gold in 2009, nearly 3 percent of the world's total. In full disclosure, we own … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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