Friday, June 24, 2011

DailyMarkets.com - FDA’s Stronger Anti-smoking Campaign

DailyMarkets.com - FDA’s Stronger Anti-smoking Campaign


FDA’s Stronger Anti-smoking Campaign

Posted: 24 Jun 2011 08:04 AM PDT

The Food and Drug Administration ('FDA') in a recent ruling has asked the tobacco giants of United States to print the latest design set by the council on their cigarette packets from October 2011. Graphic design of a dead body, cancerous lungs and rotten teeth would definitely be a scary intimidation for US tobacco lovers each time they pick up a packet of their favorite brands.
The label has been designed keeping in tune with the 'Family Smoking Prevention and Tobacco Control Act' to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sonic Booms On Higher Comps

Posted: 24 Jun 2011 07:40 AM PDT

Sonic Corp. (NASDAQ:SONC), the drive-in fast food chain operator, reported third quarter 2011 adjusted earnings of 21 cents per share, which surpassed the Zacks Consensus Estimate of 18 cents and the year-ago quarter’s earnings of 15 cents. The better-than-expected results were driven by strong comparable store sales at company-owned drive-in restaurants and a stronger economy.
Total revenue in the reported quarter was $152.1 million, up 4.1% year over year, and was above the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Oracle Reports Strong 4Q

Posted: 24 Jun 2011 07:35 AM PDT

Oracle Corp. (NASDAQ:ORCL) reported an impressive fourth quarter 2011, with quarterly revenues surpassing $10.0 billion for the first time in the company's history. The robust top-line growth helped Oracle earn 71 cents per share in the quarter, which beat the Zacks Consensus Estimate by two cents.
Operating Performance
Net Income was $3.68 billion (excluding one-time items but including stock-based compensation expenses) or 71 cents per share compared with $2.87 billion or 56 cents in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Williams Bids For Southern Union

Posted: 24 Jun 2011 07:35 AM PDT

Williams Companies (NYSE:WMB) has offered to acquire all of the outstanding shares of Southern Union Company (NYSE:SUG) for a total cash value of $4.86 billion, topping the bid of $4.2 billion that was placed by Energy Transfer Equity L.P. (NYSE:ETE). The total enterprise value of the deal is estimated at $8.7 billion, which includes a debt assumption of $3.7 billion.
In its bid, Williams proposed to pay $39 per share to Southern Union Company. This represents a premium of 18% over Energy Transfer's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Chunghwa Eyes Chinese Expansion

Posted: 24 Jun 2011 07:35 AM PDT

Taipei-based Chunghwa Telecom Co. Ltd., (NYSE:CHT) recently announced its plans to enter into an agreement with Chinese telecom operators in order to provide value-added services and other application support to the Chinese subscribers. The agreement will allow the company to seize the $33.3 billion opportunity in the lucrative Chinese cloud computing market.
The company had a pact with China Telecom Corp. and China Unicom (Hong Kong) Ltd. (NYSE:CHU) to access software from its application stores as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EUR/USD Drops To Trendline Support

Posted: 24 Jun 2011 07:12 AM PDT

EUR/USD (daily chart) as of Friday (6/24/2011) has dropped down to the dynamic support provided by a bullish support trendline extending back to the mid-February low. The current bearishness occurs after price action failed to make further gains and fell from its 1.4440 high in the middle of the week. Currently the pair has fallen to trendline support and continues to carry an overall bearish bias. In the event of a breakdown below this trendline, further downside momentum has a clear downside … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Smith & Nephew Acquires Tenet

Posted: 24 Jun 2011 07:03 AM PDT

Smith & Nephew (NYSE:SNN), an international medical device major operating in the orthopedic reconstruction and trauma, endoscopy and advanced wound management market, recently announced its intention of acquiring privately-held Tenet Medical Engineering, Inc. However, the financial terms of the agreement are yet to be disclosed.
Alberta-based Tenet provides advanced technology in the arthroscopic surgery space with intuitive patient positioning controls, increased versatility, adjustability … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Harris’ Winning Spree Continues

Posted: 24 Jun 2011 06:55 AM PDT

A leading supplier of communications equipment and services, Harris Corp. (NYSE:HRS) recently won a $16 million contract from the U.S. military forces to supply Falcon III AN/PRC-117G Multiband Manpack tactical radios.
Earlier, the company had received orders worth $9.4 million and $5 million, respectively, for the same device from the U.S air and marine departments.
This newly developed tactical radio supports both way communications along with better streaming of videos, more delivery of data … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Euro Slides In Overnight As Concerns Over Austerity Vote Linger

Posted: 24 Jun 2011 06:51 AM PDT

The Euro softened in the overnight against the major currencies as concerns arose that the proposed austerity measures would not pass Tuesday's crucial vote, with a member of Greek Prime Minister George Papandreou's party publicly stating that he hasn't decided whether or not to vote for the deficit reduction measures. While the Greek parliament gave the ruling Pasok party the vote of confidence it needed to retain power on Wednesday, with members voting along party lines, giving the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Down During The European Session

Posted: 24 Jun 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Friday after the release of U.S. data on Core Durable Goods Orders.<br/><br/> NZD/USD was trading at 0.8132, down 0.10% at time of writing.<br/><br/> The pair was likely to find support at 0.8046, Monday&rsquo;s low, and resistance at 0.8194, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core durable goods orders rose less-than-expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Positive Data On Vertex’ Incivek

Posted: 24 Jun 2011 06:36 AM PDT

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) recently reported data from two late stage trials – ADVANCE and REALIZE – on Incivek (telaprevir). The data were published in the June edition of the New England Journal of Medicine.
The trial results demonstrated that when patients suffering from chronic hepatitis C (HCV) were given Incivek combination therapy, they experienced significant improvement in sustained viral response (SVR) rates, as compared to those who received pegylated-interferon and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: ConAgra Foods, Electronic Arts, Herman Miller, Nabors Industries, Oracle, Research In Motion Limited, Steelcase, Western Digital Corporation

Posted: 24 Jun 2011 06:36 AM PDT

    ConAgra Foods (NYSE:CAG) posted adjusted Q4 EPS of $0.47, lower than the Zacks Consensus Estimate of $0.48 per share. Revenues for the quarter rose 5.3% year-over-year to $3.21 billion

    Oracle Corporation (NASDAQ:ORCL) posted Q4 EPS of $0.75, surpassing the Zacks Consensus Estimate of $0.69 per share. Revenues for the quarter grew 13% year-over-year to $10.78 billion

    Herman Miller Inc’s (NASDAQ:MLHR) shares rocketed up 11.46% after the furniture … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Fluor Aid For Dow’s PHD Expansion

Posted: 24 Jun 2011 06:36 AM PDT

Fluor Corporation (NYSE:FLR) received a basic engineering and design services contract from The Dow Chemical Company. The services are for Dow's propane dehydrogenation (PDH) expansion project in Freeport, Texas.
The value of the contract has not been disclosed but included in the second quarter of 2011 bookings. In Fluor's office in Houston, Texas basic engineering for the projects will be implemented, which will be aided from Fluor's office in Manila, Philippines. After the completion of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Positive Durable Goods Report

Posted: 24 Jun 2011 06:36 AM PDT

Positive economic reports on the U.S. front and lingering optimism from Thursday’s Greek deal are expected to help stocks push higher today. Approval from the Greek parliament next week for the new austerity plan will pave the way for a fresh multi-year rescue fund for the country.

On the domestic economic front, we got a better-than-expected Durable Goods report for May and the first quarter GDP growth estimate was modestly revised higher. The positive Durable Goods report is evidence that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Lionsgate Sells Maple Pictures

Posted: 24 Jun 2011 06:36 AM PDT

Lions Gate Entertainment Corp. (NYSE:LGF) recently announced the sale of its Canadian distributor Maple Pictures to the Alliance group for approximately $38.5 million.
The deal subject to the approval by the Canadian regulatory authorities, allows the Alliancegroup to acquire Maple and its film library. Further, Alliance group will take charge of Maple’s exclusive long-term output deals with Lionsgate of Film, TV, Home Entertainment and Library.
Moreover, the recent announcement will help … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Down In European Trade

Posted: 24 Jun 2011 06:25 AM PDT

Forex Pros – The Euro was lower against the Swiss Franc on Friday after the release of euro zone data on German Ifo Business Climate Index.<br/><br/> EUR/CHF was trading at 1.1894, down 0.54% at time of writing.<br/><br/> The pair was likely to find support at 1.1846, Thursday&rsquo;s low, and resistance at 1.2148, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, data showed that Germany&rsquo;s Ifo business climate rose unexpectedly to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Swiss Franc: The Downside Prevails

Posted: 24 Jun 2011 06:18 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 993

Posted: 24 Jun 2011 06:18 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: 24 Jun 2011 06:18 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: 24 Jun 2011 06:18 AM PDT

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


British Pound: Caution

Posted: 24 Jun 2011 06:18 AM PDT

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


Euro: Under Pressure

Posted: 24 Jun 2011 06:18 AM PDT

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


“Risk” Off

Posted: 24 Jun 2011 06:18 AM PDT

Today’s Idea
The long liquidation selling in Gold futures may provide those looking to go long Gold on a price-break an opportunity to get back into the market once the dust settles. A trading strategy to consider might be selling puts in Gold future options. For example, with August Gold selling at 1519.30 as of this writing, the August Gold 1245 puts could be sold for about 3.30, or $330 per option, not including commissions. The premium received would be the maximum potential gain on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The Congestion In USD/JPY Is Likely To End Soon. Where Will It Go?

Posted: 24 Jun 2011 06:14 AM PDT

USD/JPY

Short-Term to Medium Term- The USD/JPY has been supported at 80.00. However, highs have been made lower and lower, reflecting a congestion. Remember in mid-March when the market spiked down and then up but finally returned back towards 80. This is a sticky price level and the market continues to hover it.
- The congestion is nearing the apex of converging support and resistance levels.
- There is no volatility squeeze yet, but a break above the 80.80 high, there is a possible break … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Steely Nerves Required For The Weekend

Posted: 24 Jun 2011 06:11 AM PDT

The run in to the weekend has investors dashing to take position in their currency of choice. To make a decision they have to carefully weigh up the pros and cons of each in the hope that when Monday rolls around, they will have made a wise choice. Earlier, euro bulls warmed to the news that Greek austerity measures had received the approval of European partners, who are eager to avoid a sovereign default at any cost. But the difficulty will surely remain a vote in Athens next week. And while … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The Other Home Inspection And Red Flags Watched By Mortgage Lenders

Posted: 24 Jun 2011 06:08 AM PDT

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


Forex – USD/CAD Up On Economic Data

Posted: 24 Jun 2011 06:05 AM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of U.S. data on Core Durable Goods Orders.<br/><br/> USD/CAD was trading at 0.9797, up 0.07% at time of writing.<br/><br/> The pair was likely to find support at 0.9702, Wednesday&rsquo;s low, and resistance at 0.9850, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core durable goods orders rose less-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Rite Aid Narrows Loss

Posted: 24 Jun 2011 06:03 AM PDT

Leading drugstore chain operator Rite Aid Corp. (NYSE:RAD) posted a net loss of $63.1 million in the first quarter of fiscal 2012 compared with a loss of $73.7 million in the year-ago period. The quarterly loss per share of 7 cents not only improved from the prior-year quarter loss of 9 cents but also outshines the Zacks Consensus Estimate loss of 12 cents. Growth in same store sales and reduced selling, general & administrative (SG&A) and interest expenses better offset the negative … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AK Steel To Buy Raw Material

Posted: 24 Jun 2011 06:03 AM PDT

With the gradual increase in the iron ore and coking coal prices due to increase in demand, AK Steel Holding Corporation (NYSE:AKS) might consider obtaining raw material assets from outside. Acquiring pieces and parts of raw materials will help the company in lowering its costs.
The profitability of the steel sector is closely tied to the prices of necessary raw materials. Considering the steel industry, these materials include iron ore, coal, coke, oxygen, chrome, nickel, silicon, molybdenum, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The Boeing-Airbus Dogfight

Posted: 24 Jun 2011 06:00 AM PDT

The Boeing-Airbus Dogfight
by Tony D'Altorio, Investment U Research
Friday, June 24, 2011
The sounds of combat in the air were heard over Paris this week…
No, it wasn't a re-enactment of a World War II air battle. It's just the annual Paris Air Show.
The annual event marks yet another skirmish in the decades-long battle between the two behemoths of the aerospace industry – Boeing (NYSE:BA) and Airbus. (Airbus is a subsidiary of the European Aeronautic Defense and Space Company (PINK: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


What Was Behind The Strategic Oil Reserve Release?

Posted: 24 Jun 2011 05:58 AM PDT

Lisa Benson captures the opinion of many as to just why the Obama administration moved to release strategic oil reserves.

Larry Doyle
Isn't it time to subscribe to all my work via e-mail, an RSS feed, on Twitter or Facebook?
Please get your friends and colleagues to do the same. Thanks!!
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down On Economic Data

Posted: 24 Jun 2011 05:50 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Core Durable Goods Orders.<br/><br/> EUR/USD was trading at 1.4225, down 0.22% at time of writing.<br/><br/> The pair was likely to find support at 1.4127, Thursday&rsquo;s low, and resistance at 1.4442, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core durable goods orders rose less-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Core Durable Goods Orders Rise Less-than-expected

Posted: 24 Jun 2011 05:40 AM PDT

Forex Pros – U.S. core durable goods orders rose less-than-expected last month, official data showed on Friday.<br/><br/>In a report, Census Bureau said that Core durable goods orders rose to a seasonally adjusted 0.6%, from -0.4% in the preceding month whose figure was revised up from -1.5%.<br/><br/>Analysts had expected Core durable goods orders to rise 1.0% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Brightpoint Remains Neutral

Posted: 24 Jun 2011 05:30 AM PDT

We maintain our Neutral recommendation on Brightpoint Inc. (NASDAQ:CELL) following the ongoing consolidation trend in the U.S telecom industry. If the proposed acquisition of T-Mobile USA by AT&T (NYSE:T) gets regulatory approval then we believe Brightpoint may lose one of its prime customers T-Mobile. Loss of T-mobile may significantly reduce both the top line and bottom line of the company.
Logistic service is a high-margin business for Brightpoint and T-Mobile is a major customer of this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Research In Motion To Underperform

Posted: 24 Jun 2011 05:30 AM PDT

The nightmare of Research In Motion Ltd. (NASDAQ:RIMM) continues and so far the company has failed to provide any specific time frame when its free fall will come to an end. Ever since Apple Inc.'s (NASDAQ:AAPL)  iPhone hit the market, Research In Motion started losing its leadership position. For the last couple of years, the company failed to launch any device that could capture the market from iPhone or Google Inc. (NASDAQ:GOOG) developed Android-based high-end smartphones.
After experiencing weak … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/GBP Down During The European Session

Posted: 24 Jun 2011 05:00 AM PDT

Forex Pros – The Euro was lower against the British Pound on Friday after the release of euro zone data on German Ifo Business Climate Index.<br/><br/> EUR/GBP was trading at 0.8871, down 0.42% at time of writing.<br/><br/> The pair was likely to find support at 0.8790, Monday&rsquo;s low, and resistance at 0.8953, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, data showed that Germany&rsquo;s Ifo business climate rose unexpectedly to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


GBP/USD In A Double Bottom Attempt

Posted: 24 Jun 2011 04:48 AM PDT

USD, JPY and CHF Gain in a Day of Risk Aversion (6/23 Video)
GBP/USD

Short to Medium-Term- USD-strength came in a 1 day rush, and stalled since the middle of the previous US session. Throughout the Asian session and European session, the market is in a bottoming attempt.
- We saw a similar double bottom type of action mid-June, and a correction rally followed. If the same analogy follows, we can be looking for a rally to 1.6120.
- There might be resistance starting at 1.6090 area, 50% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Middle East To Taste DineEquity

Posted: 24 Jun 2011 04:35 AM PDT

California-based DineEquity Inc. (NYSE:DIN), which operates approximately 3,500 Applebee’s and IHOP restaurants, recently announced the inking of a multi-restaurant franchisee agreement with Kuwait-based M.H. Alshaya Co., to expand its IHOP brand in the Middle East. However, the financial terms of the contract were not disclosed.
Per the deal, 40 new IHOP restaurants are expected to open in Kuwait, Saudi Arabia, Jordan, Lebanon, Qatar, the United Arab Emirates, Oman, Bahrain and Egypt over the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/CHF Down In European Trade

Posted: 24 Jun 2011 04:30 AM PDT

Forex Pros – The British Pound was lower against the Swiss Franc on Friday.<br/><br/> GBP/CHF was trading at 1.3415, down 0.07% at time of writing.<br/><br/> The pair was likely to find support at 1.3355, today&rsquo;s low, and resistance at 1.3742, Monday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 0.14% to hit 1.6027 and EUR/GBP falling 0.38% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/USD Correction Spooked At 1.43

Posted: 24 Jun 2011 04:11 AM PDT

EUR/USD's Downside Targets 6/23
EUR/USD

Short to Medium-Term- The EUR/USD started a sharp reversal in the latter part of the US session. In the European session, there was a sharp rally towards 1.43. The market then immediately topped off here and as we head in the US session.
- Note this is respect of 200SMA. The RSI also respected 60, suggesting that the bearish momentum is still maintained.
- A break below the 1.4189 pivot signals the bearish continuation outlook.
- However, if this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – AUD/USD Up In European Trading Hours

Posted: 24 Jun 2011 04:00 AM PDT

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Friday.<br/><br/> AUD/USD was trading at 1.0557, up 0.32% at time of writing.<br/><br/> The pair was likely to find support at 1.0455, Thursday&rsquo;s low, and resistance at 1.0651, 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 0.69% to hit 1.3455 and AUD/JPY falling 0.11% to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Down During The European Session

Posted: 24 Jun 2011 03:20 AM PDT

Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Friday.<br/><br/> USD/CHF was trading at 0.8351, down 0.44% at time of writing.<br/><br/> The pair was likely to find support at 0.8338, today&rsquo;s low, and resistance at 0.8517, Monday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.21% to hit 1.4226 and USD/JPY falling 0.38% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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