Tuesday, June 7, 2011

DailyMarkets.com - DATA Serves Complaint, Progress Continues

DailyMarkets.com - DATA Serves Complaint, Progress Continues

DATA Serves Complaint, Progress Continues

Posted: 07 Jun 2011 07:40 AM PDT

Ken Nagy, CFA
DATA serves Complaint, Progress Continues

On June 6, 2011 DATATRAK (DATA) announced it has served a complaint for patent infringement on Medidata Solutions, Inc. for unauthorized use of DATATRAK’s intellectual property in the Medidata Rave platform. The patented technologies, as described in U.S. Patent No. 7,464,087, cover methods and systems for unifying data from a plurality of heterogeneous databases with each having business-context related data and a data access mechanism. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chunghwa Telecom Remains Neutral

Posted: 07 Jun 2011 07:35 AM PDT

We reaffirm our Neutral recommendation on Chunghwa Telecom Co. Ltd. (NYSE:CHT) following its solid performance in the first quarter of 2011. The company is the largest integrated telecommunications service provider of Taiwan. The company offers a full suite of telecom services through fixed-line, mobile, and data networks throughout Taiwan and in offshore islands.Although fixed-line offerings become relatively saturated, we believe Chunghwa's mobile and Internet/Data operations will drive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Incyte Seeks FDA Approval

Posted: 07 Jun 2011 07:35 AM PDT

Recently, Incyte Corporation (NASDAQ:INCY) submitted a new drug application (NDA) to the US Food and Drug Administration (FDA) for its lead candidate INCB18424 (ruxolitinib) for treating patients suffering from myelofibrosis (MF), a rare bone marrow disorder.
While submitting the application, Incyte requested the US agency to review it on a priority basis as MF currently has no approved therapy. The approval of this request would imply a six month review timeline as opposed to the normal ten month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Little For The S&P To Latch Onto

Posted: 07 Jun 2011 07:18 AM PDT

Trading Ideas
Equity prices have been in steady decline for over a month, but it has been a slow grind as opposed to a steep sell-off. Pessimism has begun to set in among equity traders, who have found little positive news to latch onto at the present time. The closes below the 1300 level can be seen as a technical setback. Despite these declines, the VIX index has not moved sharply higher, indicating little volatility premium built into the market. Some traders may wish to consider entering … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up During The European Session

Posted: 07 Jun 2011 07:10 AM PDT

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4671, up 0.65% at time of writing.<br/><br/> The pair was likely to find support at 1.4326, Thursday&rsquo;s low, and resistance at 1.4682, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8915 and EUR/JPY rising 0.71% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURCHF Also Moves Higher

Posted: 07 Jun 2011 07:08 AM PDT

The USDCHF is showing some signs of life today and so is the EURCHF. This pair bottomed on June 1st and has wandered higher. Today the price moved convincingly above the downward sloping channel trendline at the 1.2209 level along with both the 100 and 200 hour MAs .  The next target is the 1.2316 area where lows and highs were made on May 23rd, May 26th, May 31st and June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sony Introduces PlayStation Vita

Posted: 07 Jun 2011 07:05 AM PDT

At the Electronic Entertainment Expo (E3) trade fair in Los Angeles, Sony Corp. (NYSE:SNE) launched its next generation portable gaming device, PlayStation Vita. The new handheld device will hit the stores before the winter holidays.
PlayStation Vita has front and back cameras, a touchscreen in front, a touch pad on the back and two knob-like joysticks. The device can be connected to Internet-based PlayStation Networks, and thereby gamers have the option of competing with a host of other players … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Disney To Lay Off, Blames DVD Sales

Posted: 07 Jun 2011 06:55 AM PDT

According to Bloomberg, The Walt Disney Company (NYSE:DIS) is planning to slash jobs of around 5% of its employees or more than 200 people at its film division in June, as the company is looking to reduce costs at its Studio Entertainment segment.
The move was inevitable and is likely to be followed by other studios as the sales of DVD have been plunging due to the shift in consumer demand. An increasing number of customers now prefer to use the on-demand TV services and other digital mediums at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Honeywell Wins Contract

Posted: 07 Jun 2011 06:55 AM PDT

Honeywell International Inc. (NYSE:HON) has been awarded a five-year $96 million worth contract by NASA’s Safety Center (NSC) to supply audits, assessments, and assurance services to the agency’s centers and suppliers. Honeywell has been working with NASA for a long time, helping it to meet its objectives economically.
According to the agreement entered into by a wholly-owned subsidiary of Honeywell, Honeywell Technology Solutions Inc. (HTSI), under the guidance of the NASA Safety Center (NSC), … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up During The European Session

Posted: 07 Jun 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday.<br/><br/> NZD/USD was trading at 0.8210, up 0.80% at time of writing.<br/><br/> The pair was likely to find support at 0.8074, Friday&rsquo;s low, and resistance at 0.8232, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.83% to hit 1.3041 and EUR/NZD falling 0.24% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

J. C. Penney’s Sales Dropped

Posted: 07 Jun 2011 06:36 AM PDT

J. C. Penney Company Inc. (NYSE:JCP), a leading retailer of apparel and footwear, accessories, fashion jewelry, beauty products and home furnishings, recently reported the sales results for the four-week period ended May 28, 2011. The company's comparable-store sales for May 2011 inched down 1.0% with total sales plummeting 3.3% to $1,187.0 million.
The sales results were negatively impacted by the exclusion of certain marketing actions compared to the same period last year coupled with the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Akorn, Amedisys Inc, Credicorp Ltd., Credit Suisse Group, Coventry Health Care, Exelixis, Gen-Probe Incorporated, J P Morgan Chase & Co, Lowe’s Companies, Lloyds Tsb Group Plc, Merge Healthcare Incorporated., Novartis AG

Posted: 07 Jun 2011 06:36 AM PDT

    Share prices of home nursing provider Amedisys, Inc.(NASDAQ:AMED) fell 7.41% after CRT Capital reduced its earnings estimates for fiscal 2011

    According to Canaccord Genuity, data from a trial of Exelixis, Inc’s (NASDAQ:EXEL) cancer-drug candidate could possibly worsen its regulatory strategy

    According to the Wall Street Journal, Novartis AG (NYSE:NVS) could possibly opt out from the buying race for medical test manufacturer Gen-Probe Inc … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Makes A Break To The Upside. Double Bottom Helps

Posted: 07 Jun 2011 06:31 AM PDT

The USDCHF has broken to the upside and targets what will be key resistance at the 0.8385/89 area. This area corresponds with the low from June 1 and the resistance area from yesterday's trade. At the 0.8389 level the 100 hour MA is found. The price has been above the 100 hour MA since May24th.  A move above this key level would be a clue for future increases.
The burden of proof remains on the bulls to continue to push the pair higher. A step has been made with a break above the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Down During The European Session

Posted: 07 Jun 2011 06:25 AM PDT

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Tuesday.<br/><br/> USD/CAD was trading at 0.9746, down 0.65% at time of writing.<br/><br/> The pair was likely to find support at 0.9735, today&rsquo;s low, and resistance at 0.9852, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.61% to hit 1.4664 and GBP/USD rising 0.50% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FX Headlines: Dovish RBA Sends Investors Into Kiwi Ahead Of RBNZ

Posted: 07 Jun 2011 06:23 AM PDT

Despite a dovish Reserve Bank of Australia noting that inflationary pressures remained tempered amid modest growth and a stronger domestic currency, investors continued to have a desire for risk in the overnight session, and ahead of Wednesday's Reserve Bank of New Zealand rate decision, the Kiwi rallied on Tuesday across the board, continuing the antipodean currency's remarkable run since its low on March 17. Reserve Bank of Australia Governor Glenn Stevens noted that the decision reflects … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails

Posted: 07 Jun 2011 06:17 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: 07 Jun 2011 06:17 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: 07 Jun 2011 06:17 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro: The Downside Prevails

Posted: 07 Jun 2011 06:17 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Selling Climbs After Trichet Accepts Rollover Plan

Posted: 07 Jun 2011 06:15 AM PDT

Open season on the dollar continues to keep the bulls at bay. A top Chinese official stumbled across portfolio theory and warned against the danger of failing to diversify. German Chancellor Angela Merkel apologized in advance to President Obama for an increasing hotel bill during his European tour now that she has the debt crisis firmly behind her. The Australians left monetary policy on hold as the central bank highlighted tougher conditions facing the non-mining sector.
U.S. Dollar – A … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests Highs For The Day

Posted: 07 Jun 2011 06:10 AM PDT

The EURUSD tested the 100 bar MA on the 5  minute chart and rotated back higher. The price is testing the highs for the day at the 1.46816 level.  The 100 bar MA comes in below at the 1.4650.  A move above the high will next target the 1.4696-1.4700 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Surges On After Resolving Double Top; Pauses Again In US Session

Posted: 07 Jun 2011 06:06 AM PDT

EUR/USD to Confirm or Invalidate Double Top in US Session (6/6)
EUR/USD

Short-Term- The EUR/USD indeed indeed formed a double top yesterday, and a pullback confirmed. Another bearish leg followed. However, the RSI shows maintenance of the bullish momentum, and price action respected a rising channel support despite cracking it temporarily.
- The push in the European session cracked the previous high near 1.4658, and pushed the RSI reading above 70. This reflects bullish continuation, but … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Global To Outperform

Posted: 07 Jun 2011 06:06 AM PDT

We upgrade our recommendation on Liberty Global Inc. (NASDAQ:LBTYA) to Outperform backed by the company's excellent financial results for the first quarter of 2011. Long-term potential of Liberty Global is much visible now after its decision to acquire the third largest cable operator in Germany, Kabel Baden. Liberty Global purchased the second largest German cable MSO, UnityMedia in 2010.
Germany is the fastest growing economy in Europe and its cable TV market is highly lucrative. If Liberty … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Constellation Energy Ceases Deal

Posted: 07 Jun 2011 06:06 AM PDT

Constellation EnergyGroup Inc. (NYSE:CEG) has terminated a deal to sell Quail Run natural gas plant in west Texas to High Plains Diversified Energy Corporation. The company has now decided to retain ownership of the plant, which provides power to the west zone of the Electricity Reliability Council of Texas.
In December 2010, Constellation Energy had signed an agreement to sell the plant for $185.3 million. The plant, with a capacity of 550-megawatt is a modern, efficient, well-managed asset, that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Regions Buys Credit Card Portfolio

Posted: 07 Jun 2011 06:06 AM PDT

Birmingham-based Regions Bank, a unit of Regions Financial Corp. (NYSE:RF) has announced a definitive agreement to acquire the credit card portfolio of $1 billion from FIA Card Services, a subsidiary of Bank of America Corporation (NYSE:BAC). The financial terms of the deal were not disclosed.
Regions will purchase approximately 500,000 customer accounts, comprising existing Regions’ customers, for an undisclosed amount. The deal is expected to close during the second quarter of 2011.
The contract … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Up During The European Session

Posted: 07 Jun 2011 06:00 AM PDT

Forex Pros – The Euro was higher against the Swiss Franc on Tuesday after the release of euro zone data on German Factory Orders.<br/><br/> EUR/CHF was trading at 1.2250, up 0.69% at time of writing.<br/><br/> The pair was likely to find support at 1.2079, Thursday&rsquo;s low, and resistance at 1.2259, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that German factory orders rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RBA Statement Does Not Give Clues To Next Rate Hike, AUD Pressured

Posted: 07 Jun 2011 05:33 AM PDT

In the RBA statement released yesterday, we see that the central bank thinks that the "current mildly restrictive stance of monetary policy remained appropriate." They held rates at 4.75%, and while the market may have been coming in expecting some signs about future interest rate increases and perhaps looking for the central bank to increase its view of upside risks to inflation, the RBA statement was mainly a cautious one.
Let's take a look at some of the key language from the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rick Rule: “Confidence Is The Enemy Of Performance”

Posted: 07 Jun 2011 05:28 AM PDT

Rick Rule speaks eloquently on a number of topics in this video.  He discusses bull and bear markets and the characteristics behind them.  He talks about the volatility inherent in the resource sector and how it can work both for and against … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Archer Acquires Cattleman’s Choice

Posted: 07 Jun 2011 05:25 AM PDT

Archer Daniels Midland Company's (NYSE:ADM) wholly owned subsidiary ADM Alliance Nutrition indicated that it has entered into an agreement to acquire Cattleman's Choice Loomix, which is a leading producer of liquid animal feed supplements. The acquisition will allow the company to penetrate into the Western United States market while providing an opportunity to explore the liquid feed business.
Headquartered in Johnstown, Colo, Cattleman's Choice Loomix manufactures the Loomix brand liquid … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Can USD/CAD Confirm A Head And Shoulder Formation?

Posted: 07 Jun 2011 05:00 AM PDT

USD/CAD

Short-Term- There is a head and shoulder formation in the USD/CAD 1H chart. The neckline, which was near the 200SMA as well was broken in the European session.
- This however failed to establish bearish momentum as the RSI misses 30. Now, we have a freshly created head and shoulder with no bearish momentum, and pullback seems imminent as price action starts to turn bullish ahead of the US session.
- A pullback that respects the head and shoulder, and fails to break above 0.9776 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/GBP Up During The European Session

Posted: 07 Jun 2011 05:00 AM PDT

Forex Pros – The Euro was higher against the British Pound on Tuesday after the release of euro zone data on German Factory Orders.<br/><br/> EUR/GBP was trading at 0.8928, up 0.17% at time of writing.<br/><br/> The pair was likely to find support at 0.8771, Thursday&rsquo;s low, and resistance at 0.8946, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that German factory orders rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Chance To Expose The Wall Street-Washington Incest

Posted: 07 Jun 2011 04:55 AM PDT

Truth, transparency, and integrity.
The compromising of these virtues may be the cost of doing business in our nation but make no mistake the price we collectively pay is enormous. Whether in Washington or on Wall Street, the ability to compromise our prized virtues has truly been raised to an art form.
From derivative transactions which disguise unprecedented levels of risk to bond indentures which require advanced legal degrees to interpret, our 'friends' on Wall Street with assistance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Rallies On Trichet Endorsing “Debt Rollover” Plan For Greece

Posted: 07 Jun 2011 04:46 AM PDT

The EUR rallied in today's session as we had ECB President Trichet back the idea of a "debt rollover" as part of a solution to the Greek problem, as that would help ease the funding short-fall Greece is likely to have, and from the ECB's perspective would not constitute a "credit event" or default.
From Bloomberg: "European Central Bank President Jean- Claude Trichet signalled for the first time he may support encouraging investors to buy new Greek bonds to replace maturing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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