Wednesday, June 22, 2011

DailyMarkets.com - Forex Trading: EURUSD Tests And Finds Profit Buying Against The 100 And 200 Hour MAs

DailyMarkets.com - Forex Trading: EURUSD Tests And Finds Profit Buying Against The 100 And 200 Hour MAs

Forex Trading: EURUSD Tests And Finds Profit Buying Against The 100 And 200 Hour MAs

Posted: 22 Jun 2011 05:08 PM PDT

The EURUSD decline after falling through trendline support, has found a profit taking level to buy against the 100 and 200 hour MAs at the 1.4311 and 1.4317 level respectively.  This is a logical place for shorts to take profit as risk is clearly defined.  A move below has additional support at the 1.4300 level. However, a break of that level opens the door for further selling … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down In Asian Trade

Posted: 22 Jun 2011 05:05 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Thursday.<br/><br/> EUR/USD was trading at 1.4323, down 0.23% at time of writing.<br/><br/> The pair was likely to find support at 1.4192, Monday&rsquo;s low, and resistance at 1.4442, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.04% to hit 0.8928 and EUR/JPY falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up During Asian Trade

Posted: 22 Jun 2011 04:15 PM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Wednesday.<br/><br/> USD/JPY was trading at 80.37, up 0.09% at time of writing.<br/><br/> The pair was likely to find support at 80.01, Friday&rsquo;s low, and resistance at 80.67, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.20% to hit 1.4327 and GBP/USD falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USPS Suspends Pension Payments

Posted: 22 Jun 2011 03:57 PM PDT

06/22/11 The US Postal Service plans to suspend contributions to an employee retirement program, in order to conserve … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

China To Allow Foreign Mutual Funds

Posted: 22 Jun 2011 03:55 PM PDT

Foreign banks can distribute mutual funds in China from October 1, 2011, following a new rule from the China Securities Regulatory Commission. The move is expected to open up opportunities for companies such as Citigroup Inc. (NYSE:C) and HSBC Holdings Plc. (NYSE:HBC) in the Chinese market, according to a Reuters report.
For long, China has administered conservatism with respect to its financial markets. However, in recent years, the financial industry is getting liberated. This new rule granting the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“In Loco Parentis”: Mandatory Flotation Devices

Posted: 22 Jun 2011 03:41 PM PDT

“People who hope to beat the summer heat by swimming, floating or boating on rivers in King County (Washington state) must wear a life vest or face an $86  fine. A divided County Council on Monday passed a personal flotation device ordinance by a five to four vote. Opponents said it was an intrusive move by “big government.”

“This council sometimes thinks it’s everybody’s mom,” said Councilwoman Kathy Lambert, who voted “no.”  Supporters said the new rule will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Luminex Gets EraGen For $34M

Posted: 22 Jun 2011 03:35 PM PDT

Luminex Corporation (NASDAQ:LMNX), a developer of biological testing technologies, has forged a definitive agreement to buy Madison, Wisconsin-based privately-held diagnostic testing company EraGen Biosciences, Inc. for $34 million in cash.
The transaction, which is subject to the clearance of EraGen shareholders and other customary conditions, is expected to complete within the next few weeks. 
EraGen, with annual sales of $8 million, makes molecular reagent products for infectious diseases … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Duke Energy Raises Dividend

Posted: 22 Jun 2011 03:35 PM PDT

Duke Energy Corporation (NYSE:DUK) raised the quarterly cash dividend on its common stock by 5 cents to 25 cents per share. This action increases the annualized dividend from 98 cents to $1.00.
The dividend is payable on September 16, 2011 to shareholders of record at the close of business on August 12, 2010. This is the 85th consecutive year that Duke Energy has paid a quarterly cash dividend on its common stock. 
Earlier, Duke Energy reported a strong first quarter 2011. Earnings in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Shell Fortifies UK Retail Sites

Posted: 22 Jun 2011 03:35 PM PDT

The British unit of Royal Dutch Shell plc (RDS.A) entered into an agreement with Rontec Investments LLP –– led by Snax 24 Consortium –– to acquire 254 petrol retail sites in the U.K. The purchase price of the deal was settled at $400 million or £240 million.
Management commented that this deal marks Shell's single biggest expansion move in the petrol station network in England. It is expected to help the company significantly in distributing competitively priced fuels to more … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down In Asian Trade

Posted: 22 Jun 2011 03:35 PM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.<br/><br/> NZD/USD was trading at 0.8142, down 0.06% at time of writing.<br/><br/> The pair was likely to find support at 0.8014, Friday&rsquo;s low, and resistance at 0.8194, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.05% to hit 1.2969 and EUR/NZD falling 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Short-term Triple Topping Action Spotted In The EUR/JPY

Posted: 22 Jun 2011 03:34 PM PDT

EUR/JPY Confirms Bearish Breakout and Targets 113.85, 113.45 in the Short-term (6/15)
EUR/JPY

Short-term to Medium-Term
- After falling to 113.49 (missing the 113.45 projection), the EUR/JPY found support.
- The 1H chart shows this rally failing to establish bullish momentum as the RSI missed 70.
- Price action is also now developing a triple top if the market can break below the support at 115.13.
- The first challenge to this bearish outlook in the short-term is the 114.79 pivot. If a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: Initial Jobless Claims, New Home Sales, Chicago Fed Activity National Index; Earnings: Accenture, ConAgra, Discover FInancial, Oracle

Posted: 22 Jun 2011 10:20 AM PDT

06/22/11 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Uninspired

Posted: 22 Jun 2011 03:17 PM PDT

Cusick’s Corner
Uninspired – that’s the type of action that we saw slipping into the evening. The Fed Chief spoke and the market held then pulled off in the last hour. This also coincided with the strength in the Dollar, DXU11 75.25, bouncing off the 21-Day Moving Average and the highest volume levels in S&P Futures during that final hour. I held my short deltas into the announcement, resistance held at 1292 and there was little interest in the dips. The market is sitting right off first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Southern Co. At Fair Valuation

Posted: 22 Jun 2011 03:11 PM PDT

We have maintained our Neutral recommendation on electric utility firm Southern Company (NYSE:SO) with a price target of $41.
Headquartered in Atlanta, Georgia, Southern Company is the second largest generator of electricity in the nation behind Exelon Corp. (NYSE:EXC), serving both regulated and competitive markets across the Southeastern U.S. It is a holding company for four regulated Southern electric utilities that serve about 4.4 million customers – Georgia Power, Alabama Power, Gulf Power and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GN Netcom Expands Through Logitech

Posted: 22 Jun 2011 03:05 PM PDT

Logitech International (NASDAQ:LOGI) has signed an agreement with GN Netcom to firm its base in the Unified Communications (UC) market. As per the agreement, beginning July 2011, Logitech will offer select products from the award-winning line of Jabra headsets and speakerphones through distribution channel partners in North America.
Logitech will be offering the Jabra headsets under the co-branded name 'Logitech powered by Jabra.' In addition, the two companies also plan to carry out their … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FDA Panel Votes Down NVS Drug

Posted: 22 Jun 2011 03:05 PM PDT

Novartis (NYSE:NVS) received a setback recently when an advisory panel to the US Food and Drug Administration (FDA) recommended against approving its pipeline candidate ACZ885 for the proposed indication.
Novartis was seeking approval to expand the use of ACZ885 for the treatment of patients suffering from severe gouty arthritis, commonly known as gout, who failed to derive adequate relief from the currently available options like non-steroidal anti-inflammatory drugs (NSAIDs) or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Terex Bid Adequate, Demag Agrees

Posted: 22 Jun 2011 03:05 PM PDT

Terex Corp. (NYSE:TEX) is now in the process of acquiring Demag Cranes for $1.4 billion. After agreeing to Terex's bid of 45.50 euros per share in cash, up from 41.75 euros, last week, Demag has agreed to be taken over by Terex. The offer values Demag at 963 million euros (approximately $1.4 billion), which according to Demag is justified.
Demag now recommends its shareholders to accept Terex’s offer subject to a minimum acceptance threshold of 51% by Demag shareholders. The offer expires on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Raytheon Wins Missile Contract

Posted: 22 Jun 2011 03:05 PM PDT

Defense contractor Raytheon Company (NYSE:RTN) has signed a deal worth $1.7 billion to upgrade the Patriot Air and Missile Defense System for Saudi Arabia. Under the Direct Commercial Sales contract signed, Raytheon will advance the missile defense system to the latest Configuration-3.
The contract comprises ground-system hardware, a full training package and support equipment upgrades. Subject to customary U.S. regulatory approvals, Raytheon plans to carry out work under this contract at its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Coach Kept At Neutral

Posted: 22 Jun 2011 03:05 PM PDT

Being a leading American marketer of fine accessories and gifts, Coach Inc. (NYSE:COH) boasts of a proven strategy of investing in stores to enhance store sales productivity through product innovation, compelling pricing strategy, new merchandise assortments, and a cost-effective global sourcing model, which should help drive comparable-store sales and operating margins in the long term.
Management remains confident of sustaining double-digit growth in both top and bottom lines, after posting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: KMX, PHG, AVAV, FDX

Posted: 22 Jun 2011 09:55 AM PDT

06/22/11 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

Bernanke Talks Down QE3 And FOMC Statement Mainly As Expected

Posted: 22 Jun 2011 02:37 PM PDT

In our preview of the FOMC interest rate decision and statement we highlighted that the Fed was likely to show concern about the economy, but also stick to the scrip in regards to ending its $600 billion quantitative easing program this month. It would however pledge to continue to keep its balance sheet constant by re-investing maturing Treasurys. And that it would keep its "extended period language".
No surprises there:
From the Statement: "To promote the ongoing economic recovery … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Seafox To Jackup EOG Oil Venture

Posted: 22 Jun 2011 02:25 PM PDT

A subsidiary of EOG Resources Inc. (NYSE:EOG) has inked a contract with Seafox Contractors BV, an operating company of Netherland-based Seafox Group. The deal entitles EOG to use Seafox' facilities and a multi-support jackup – Seafox 1 – at the Conwy field in the East Irish Sea, EOG's maiden oil venture in the region.
The Seafox Group caters to a wide range of customers and has been active in the worldwide offshore industry with primary focus on the Southern North Sea in Europe.
Per the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Other Voices: Econ & Academics

Posted: 22 Jun 2011 02:25 PM PDT

“Balance Sheet Recession”

Stephen Gordon, an economics professor at Universite Laval in Quebec City compares the path of consumer net worth, assets and liabilities in the U.S. versus Canada since 1991. I agree with his point that a very big part of the problem the U.S. is facing is the huge loss of wealth due to the implosion of the housing bubble. There are several very interesting graphs that are worth looking at closely just with respect to the U.S. and the differences in the trends north … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Southwest Offers Fall/Winter Sale

Posted: 22 Jun 2011 02:25 PM PDT

Southwest Airlines (NYSE:LUV), a leading domestic carrier in the U.S. announced discounts on its flight tickets for fall travel. The offer was made on the occasion of the company's fortieth anniversary on June 21.
Together with its subsidiary, AirTran, the carrier has announced subsidized one-way fares at $40, $80 and $120 at the end of peak summer season.
The sale ends on June 23 and is being levied on travel between August 23 and November 16. The airfare sale comes with conditions like no … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fake Marlboro Vendors Sued By PM

Posted: 22 Jun 2011 02:05 PM PDT

Philip Morris International Inc. (NYSE:PM) has filed a case in U.S. District Court against local retailers in Miami for selling fake Marlboro cigarettes. The New York-based cigarette company has tracked down 17 retailers who have been selling these cigarettes.
Philip Morris has been fighting against retailers and importers who sell fake versions of its top branded cigarettes. In 2008 the tobacco giant had terminatedits relationship with the Poospatucks based on findings brought out by The Center … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bydureon Gains EU Approval

Posted: 22 Jun 2011 02:05 PM PDT

Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) and its partners, Eli Lilly and Company (NYSE:LLY), and Alkermes, Inc. (NASDAQ:ALKS), recently received a boost with the European Commission granting marketing authorization to Bydureon (exenatide once-weekly) for the treatment of type II diabetes.
Bydureon is the first once-weekly treatment to gain approval for type II diabetes. Approval was granted for use in combination with metformin, a sulfonylurea, a thiazolidinedione, metformin plus a sulfonylurea or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rockwell Collins Sheds Rollmet

Posted: 22 Jun 2011 02:05 PM PDT

Rockwell Collins Inc. (NYSE:COL) said it has decided upon selling its Rollmet product line to Precision Castparts Corp. (NYSE:PCP). The company's decision to sell the Rollmet business stems from its inclination to have a better focus on the core markets, leading to stronger growth.
The Rollmet business provides seamless alloy and stainless steel pipes and propulsion system components for the energy, petrochemical and defense industries.
Rockwell is of the opinion that the sale would also enhance … [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: 22 Jun 2011 01:55 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4354, down 0.40% at time of writing.<br/><br/> The pair was likely to find support at 1.4128, Friday&rsquo;s low, and resistance at 1.4442, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.68% to hit 0.8932 and EUR/JPY falling 0.29% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Analyst Interviews: Medical Devices Stock Outlook

Posted: 22 Jun 2011 01:40 PM PDT

A host of macro headwinds (including price and procedure volume pressure) which hit the MedTech industry last year continued to haunt the sector during the March quarter and encumber growth. Although a number of these issues are expected to linger through the remainder of 2011, the industry is expected to fare relatively better this year thanks to several tailwinds and growth opportunities.

Industry Dynamics

The global medical devices industry is fairly large, intensely competitive and highly … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

06/22 FX Options Report

Posted: 22 Jun 2011 01:40 PM PDT

The USD climbed against the EUR, following the Greece confidence vote and unchanged FOMC rate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 22 Jun 2011 01:40 PM PDT

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Wednesday.<br/><br/> USD/JPY was trading at 80.33, up 0.15% at time of writing.<br/><br/> The pair was likely to find support at 80.01, Friday&rsquo;s low, and resistance at 80.67, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.44% to hit 1.4348 and GBP/USD falling 1.10% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rating Action On RLI Corp.

Posted: 22 Jun 2011 01:35 PM PDT

A.M. Best Co. has reiterated its issuer credit ratings (ICR) of "a-" for RLI Corp. (NYSE:RLI). The rating agency has upgraded the outlook to positive from stable.
Also, A.M. Best has reiterated the debt rating of "a-" on the $100 million 5.95% senior unsecured notes, due 2014 of RLI Corp. and upgraded the outlook to positive from stable.
The credit rating agency reiterated ICR of "aa-" and financial strength rating (FSR) of A+ (Superior) of RLI Group and its members. The outlook of ICR … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Paychex Inc.

Posted: 22 Jun 2011 01:35 PM PDT

Paychex Inc. (NASDAQ:PAYX) is scheduled to announce its fourth quarter fiscal 2011 results on June 23, and we do not see any major variation in analyst estimates at this point.
Third Quarter Overview
Paychex delivered modest third quarter 2011 results, with earnings of 36 cents per share beating the Zacks Consensus Estimate by a penny. The quarter's results indicated an improving client retention rate and higher checks per client.
Paychex's third quarter revenues increased 4.6% year over year, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Unilife Hosts WHBC Meeting

Posted: 22 Jun 2011 01:35 PM PDT

Unilife Corporation (UNIS) recently hosted Kathleen Merrigan, Deputy Secretary of the U.S. Department of Agriculture ("USDA"), for a White House Business Council ("WHBC") meeting with local business chiefs at its plant in York, Pennsylvania.
The White House set up the WHBC under the leadership of President Obama. The WHBC is currently holding "The Winning the Future Roundtables" with American Business tour, which permits the Obama Administration to directly communicate with the … [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: 22 Jun 2011 01:25 PM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4354, down 0.40% at time of writing.<br/><br/> The pair was likely to find support at 1.4128, Friday&rsquo;s low, and resistance at 1.4442, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.68% to hit 0.8932 and EUR/JPY falling 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Good Signal From Market Internal Divergences Into Resistance

Posted: 22 Jun 2011 01:12 PM PDT

Ever since observing positive momentum and internal divergences at the 1,260 level (200d SMA), the upside target for the S&P 500 has been a retest of the 1,300 level.
One could say the test happened today, and the current structure reveals now a negative internal (and momentum) divergence situation into this target resistance level, giving us a neat lesson in combining internals with key price levels and the trade opportunities that arise from them.
Let's put this in simple terms as we … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Lower; Dow Jones Down 0.66%

Posted: 22 Jun 2011 01:10 PM PDT

Forex Pros – U.S. stocks were down after the closing bell on Wednesday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average fell 0.66%, the S&P 500 index shed 0.65%, while the Nasdaq 100 index declined 0.71%.<br/><br/> Meanwhile, across the Atlantic, European stock markets closed lower. France&rsquo;s CAC 40 was down 0.15%; Germany&rsquo;s DAX shed 0.10%; Britain&rsquo;s FTSE 100 declined 0.04%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DPP FIOCRUZ Sales Forecast

Posted: 22 Jun 2011 01:04 PM PDT

Brian Marckx, CFA
DPP FIOCRUZ Sales Forecast – Upside To Our Estimate

In a press release this morning Chembio (CEMI) provided an update to anticipated sales of the four DPP rapid tests that have been approved for sale in Brazil.  These DPP tests include two oral fluid HIV tests (approved in June and September 2010), a test for canine leishmaniasis (approved in April 2011) and a single parameter treponemal test for Syphilis (approved in May 2011).  A fifth DPP test, for leptospirosis, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Praxair Wins Hydrogen Contract

Posted: 22 Jun 2011 01:04 PM PDT

Praxair Inc. (NYSE:PX) entered into a long-term agreement with Motiva Enterprises LLC to supply hydrogen to the latter's refinery in Norco, St. Charles Parish, Louisiana.
Recently, the industrial gas supplier has announced its decision to enhance its hydrogen capacity in Louisiana and expand its Mississippi River corridor hydrogen pipeline system. The company will connect the Louisiana hydrogen pipeline complex with its new plant being constructed in St. Charles Parish. 
It is anticipated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fake Marlboro Vendors Sued By Philip

Posted: 22 Jun 2011 12:55 PM PDT

Philip Morris International Inc. (NYSE:PM) has filed a case in U.S. District Court against local retailers in Miami for selling fake Marlboro cigarettes. The New York-based cigarette company has tracked down 17 retailers who have been selling these cigarettes.
Philip Morris has been fighting against retailers and importers who sell fake versions of its top branded cigarettes. In 2008 the tobacco giant had terminatedits relationship with the Poospatucks based on findings brought out by The Center … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Accenture Launches EHR In Singapore

Posted: 22 Jun 2011 12:55 PM PDT

Backed by the Singapore Ministry of Health, technology services and outsourcing company Accenture plc (NYSE:ACN) recently launched a National Electronic Health Record (NEHR) system. The contract for developing the NEHR system was awarded to Accenture in August 2010. Financial terms of the deal were not disclosed.
The NEHR system has been deployed across Singapore, to integrate the country's health care structure. This also makes Singapore one of the first countries worldwide to use NEHR.
The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Office Depot, OfficeMax To Merge?

Posted: 22 Jun 2011 12:55 PM PDT

Bloomberg reports that Office Depot (NYSE:ODP), the second-largest U.S. office-supply chain, could merge with OfficeMax Incorporated (NYSE:OMX). Intense competition among the office supply retailers coupled with a high unemployment rate may result in industry consolidation.
As per the data provided by Bloomberg, Office Depot's market value has dropped 90% to $1.16 billion in the last five years, while OfficeMax has a value of $664 million after tumbling 78%.
Office Depot supplies a range of office … [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: 22 Jun 2011 12:55 PM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Wednesday.<br/><br/> GBP/USD was trading at 1.6065, down 1.11% at time of writing.<br/><br/> The pair was likely to find support at 1.6064, today&rsquo;s low, and resistance at 1.6262, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.69% to hit 0.8933 and GBP/JPY falling 0.98% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Moving Toward Next Target

Posted: 22 Jun 2011 12:45 PM PDT

The GBPUSD has continued the trend to the downside and looks to the next targets at the 1.6044 level and the 1.6025 level where the 200 hour MA is found (green line). the price of the GBPUSD has been above the 200 hour MA since the end of December and will likely be a key support level on the first test at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EnCana, PetroChina End JV

Posted: 22 Jun 2011 12:35 PM PDT

Canada's largest natural gas producer EnCana Corp. (NYSE:ECA) has confirmed that it has pulled out of talks with Chinese energy giant PetroChina Co. Ltd. (NYSE:PTR) regarding the sale of half of its prolific Cutbank Ridge shale natural gas assets in British Columbia and Alberta for approximately C$5.4 billion (U.S.$5.4 billion).
In an announcement, the company revealed that it has ended discussions with PetroChina without reaching an agreement on key aspects of the deal. The potential transaction, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gannett To Slash Headcount

Posted: 22 Jun 2011 12:35 PM PDT

Gannett Company Inc. (NYSE:GCI) grappling with sluggish economic recovery and a slump in advertising demand plans to lower its headcount by 700 employees or 2% of its work force at its U.S. Community Publishing division, Associated Press reported.
In the past five years, Gannett has reduced its headcount by 20,000 through job cuts and other measures, including the sale of a Hawaii newspaper.
The publishing industry has long been grappling with sinking advertising revenue and the recent global … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 22 Jun 2011 12:30 PM PDT

Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Wednesday.<br/><br/> USD/CHF was trading at 0.8394, down 0.14% at time of writing.<br/><br/> The pair was likely to find support at 0.8340, 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 the Japanese Yen, with EUR/USD shedding 0.29% to hit 1.4369 and USD/JPY rising 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests Trendline At The 1.4364 Level

Posted: 22 Jun 2011 12:23 PM PDT

The EURUSD is testing the 1.4364 level currently. This level has been tested on multiple occasions and a break should lead to further losses with the 200 hour MA (grren line in the chart above) at the 1.4320 being the next target and below that the 100 hour MA (blue line) and the 38.2% retracement of the move up at the 1.4300 level. 
If support holds, here, the market should find comfort in holding for the 6th time and lead to another rotation … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 22 Jun 2011 12:10 PM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Wednesday.<br/><br/> USD/CAD was trading at 0.9718, up 0.07% at time of writing.<br/><br/> The pair was likely to find support at 0.9702, today&rsquo;s low, and resistance at 0.9869, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.26% to hit 1.4373 and GBP/USD falling 0.98% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DPP FIOCRUZ Sales Forecast

Posted: 22 Jun 2011 12:04 PM PDT

Brian Marckx, CFA
DPP FIOCRUZ Sales Forecast – Upside To Our Estimate

In a press release this morning Chembio (CEMI) provided an update to anticipated sales of the four DPP rapid tests that have been approved for sale in Brazil.  These DPP tests include two oral fluid HIV tests (approved in June and September 2010), a test for canine leishmaniasis (approved in April 2011) and a single parameter treponemal test for Syphilis (approved in May 2011).  A fifth DPP test, for leptospirosis, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Celanese Hikes Product Prices

Posted: 22 Jun 2011 12:03 PM PDT

Effective July 1, 2011, specialty materials company Celanese Corp. (NYSE:CE) will increase the prices of acetic acid, Acetic Anhydride, MIBC and MIBK by $0.03/LB and that of Vinyl Acetate Monomer and Ethyl Acetate by $0.05/LB in the US,  Canada and Mexico.
A few days back, Celanese also announced that it will increase the prices of all emulsions sold in Europe, the Middle East and Africa by €90/t also effective July 1, 2011. This price increase includes all emulsions and affects … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

TOTAL Sheds U.K. Downstream Biz.

Posted: 22 Jun 2011 12:03 PM PDT

Integrated oil and gas company TOTAL S.A. (NYSE:TOT) decided to sell most of its downstream assets in the United Kingdom to Rontec Investments LLP for £400 million or $647.4 million.
The downstream assets earmarked for sale include TOTAL’s UK retail network, comprising 810 TOTAL-branded service stations, its Butler heating oil business, the associated logistics infrastructure, plus TOTAL’s Channel Islands and Isle of Man businesses.
One of the leading independent forecourt groups in the United … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Navigant Reiterated At Neutral

Posted: 22 Jun 2011 12:03 PM PDT

We reiterate our Neutral recommendation on Navigant Consulting Inc. (NYSE:NCI) for the long term, based on its first quarter 2011 earnings, opportunities associated with health care reform and the integration of Ethos Physician Services, partially offset by a restricted consultant utilization rate and inadequate new client growth.
Navigant's first quarter 2011 adjusted earnings per share of 19 cents outpaced the Zacks Consensus Estimate by 3 cents. However, revenue fell short of our … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PerkinElmer Presents CSR Report

Posted: 22 Jun 2011 12:03 PM PDT

A global leader in human and environmental health, PerkinElmer (NYSE:PKI) recently released its Corporate Social Responsibility ("CSR") Report for 2010. This report provides information on the company's achievements against its worldwide sustainability target, established in 2009, for environmental health and safety, community activities and product leadership.
According to PerkinElmer, it has made solid progress, on account of its over 6,000 employees, to become a more socially responsible … [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: 22 Jun 2011 11:45 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4377, down 0.24% at time of writing.<br/><br/> The pair was likely to find support at 1.4128, Friday&rsquo;s low, and resistance at 1.4442, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.74% to hit 0.8938 and EUR/JPY falling 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Juniper, IBM To Serve Hess

Posted: 22 Jun 2011 11:35 AM PDT

Juniper Networks Inc. (NASDAQ:JNPR), one of the leading providers of networking infrastructure products and services, recently teamed with technology major International Business Machines (NYSE:IBM) to bag a multi-million dollar contract from global energy company Hess Corporation (NYSE:HES).
Both the tech giants together will provide energy-efficient networking services to Hess by creating a simplified, automated and secure environment. Hess currently intends to upgrade its worldwide network keeping in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GM Pursues Investment In U.S. Plants

Posted: 22 Jun 2011 11:35 AM PDT

General Motors Co. (NYSE:GM) announced investment amounting to $65 million at its two engine plants in New York and Tennessee. The automaker will invest $33 million at its plant in Tonawanda near Buffalo, New York that will retain or create 100 jobs. The remaining $32 million will be invested in its Spring Hill plant in Tennessee, about 30 miles south of Nashville that adds or creates 63 jobs.
Both the plants manufacture fuel-efficient 2.4-liter "Ecotec" four-cylinder engines for Chevrolet … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

May Home Sales Were Booming In Florida

Posted: 22 Jun 2011 11:34 AM PDT

Nationally, home sales fell in May by 3.8% from April and by 15.3% from May last year, but home sales in Florida were booming in May, with strong gains in condo sales, especially in the Miami leading, leading the boom.  

Statewide, Florida Realtors is reporting that existing home sales increased by 3% in May and sales of existing condos rose 17%, both compared to a year ago. The median sales price for existing homes in Florida decreased by 5% in May to $135,500 from $142,900 a year ago, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

HFF Secures Funding

Posted: 22 Jun 2011 11:25 AM PDT

HFF Inc. (HF) has secured $134.76 million in financing for a 13-property mixed-use portfolio spanning 2.8 million square feet throughout the United States.
The portfolio is 90.0% leased and includes industrial, office, multi-housing and retail properties located in eight states. The loan is collateralized by all 13 properties and is categorized into three, five-seven, and ten-year terms.
HFF has also obtained financing for a nine building class A office and retail complex named Cityview Plaza, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

IsoRay Begins Prostate Cancer Trial

Posted: 22 Jun 2011 11:25 AM PDT

Medical isotope maker IsoRay Inc (ISR) has initiated a new combination therapy study using its Cesium-131 (an isotope) internal radiation therapy ("brachytherapy") and external beam radiation. The study has been designed to evaluate the effectiveness of combining Cesium-131 brachytherapy with intensity modulated radiation therapy ("IMRT") in treating intermediate and high risk prostate cancer.     
Prostate cancer is the second most prevalent cancer (after skin … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RIO Ups Stake In Ivanhoe

Posted: 22 Jun 2011 11:25 AM PDT

Rio Tinto Plc. (NYSE:RIO) announced that it is exercising remaining warrants of Ivanhoe Mines Ltd (Ivanhoe) to acquire 55.1 million shares for $502 million or $9.10 per share.
Subsequent to the acquisition, the company will increase its holdings in Ivanhoe to 46.5%, up from 42%. Rio Tinto's will also obtain the right to appoint an additional director to Ivanhoe's board of 14 members and consequently, will be able to exercise 50% influence on Ivanhoe's directors.
Furthermore, the company has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Strayer Remains Neutral

Posted: 22 Jun 2011 11:25 AM PDT

A rich legacy of more than 119 years coupled with a strong focus on working adults has enabled Strayer Education Inc. (NASDAQ:STRA) to establish a healthy position in the for-profit post-secondary education industry. The company has been consistently focusing on expanding educational programs, and is in the midst of a rapid expansion plan and expects to open 8 new campuses in 2011.
Strayer Education recently posted better-than-expected first-quarter 2011 results. The quarterly earnings of $2.80 per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Strayer Remains Neutral

Posted: 22 Jun 2011 11:25 AM PDT

A rich legacy of more than 119 years coupled with a strong focus on working adults has enabled Strayer Education Inc. (NASDAQ:STRA) to establish a healthy position in the for-profit post-secondary education industry. The company has been consistently focusing on expanding educational programs, and is in the midst of a rapid expansion plan and expects to open 8 new campuses in 2011.
Strayer Education recently posted better-than-expected first-quarter 2011 results. The quarterly earnings of $2.80 per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Buyout Enhances Johnson

Posted: 22 Jun 2011 11:25 AM PDT

Johnson Controls Inc. (NYSE:JCI) announced that it has completed the acquisition of two European business entities, Keiper recliner systems and Recaro seating business in Germany, after getting approval from the European Commission in Brussels, Belgium on June 17, 2011.
Keiper is a market leader in recliner system technology. It is renowned for its engineering and manufacturing expertise in metals and mechanisms for automobile seating systems. It will be closed in the third quarter of fiscal 2011. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Has Google Been Caught Stealing By Oracle?

Posted: 22 Jun 2011 11:15 AM PDT

Has Google Been Caught Stealing by Oracle?
by Justin Dove, Investment U Research
Wednesday, June 22, 2011
It's hard to imagine Google (NASDAQ:GOOG) making mistakes.
They haven't made many, but this one could hurt if Oracle (NASDAQ:ORCL) gets its way.
Oracle claims that Google infringed upon Java patents when creating its successful Android mobile device platform. And now, it's become a major patent lawsuit.
Google could stand to lose up to $6.1 billion, plus court costs, if they lose.
But a ruling … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Up In U.S. Trade

Posted: 22 Jun 2011 11:15 AM PDT

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Wednesday.<br/><br/> AUD/USD was trading at 1.0626, up 0.19% at time of writing.<br/><br/> The pair was likely to find support at 1.0497, Monday&rsquo;s low, and resistance at 1.0651, today&rsquo;s high.<br/><br/> Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.21% to hit 1.3562 and AUD/JPY rising 0.23% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Options Player Takes To Beazer Homes USA

Posted: 22 Jun 2011 11:13 AM PDT

Options player takes to Beazer Homes USA
Today's tickers: BZH, CPB, EMR & RENN
(NYSE:BZH) – Beazer Homes USA, Inc. – Shares in the designer and builder of single- and multi-family homes increased as much as 5.7% today to $3.53, joining other homebuilding companies in a sector rally ahead of May new home sales data due out on Thursday morning. One options player populating Beazer Homes this afternoon constructed what appears to be a long-term bullish bet on the stock. It looks like the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rating Action On ACE Limited

Posted: 22 Jun 2011 11:02 AM PDT

A.M. Best Co. has raised the issuer credit ratings (ICR) and senior debt ratings to "a" from "a-" for ACE Limited (NYSE:ACE). The outlook has been revised to stable from positive.
The rating agency also raised ICR and senior debt ratings to "a" from "a-" for ACE INA Holdings Inc.
Additionally, A.M. Best has raised the ICR to "aa" from "aa-" and reiterated the financial strength rating (FSR) of A+ (Superior) for ACE Bermuda Insurance Ltd., ACE Tempest Reinsurance Ltd. , ACE … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UDR Raises Quarterly Dividend

Posted: 22 Jun 2011 11:02 AM PDT

UDR Inc. (NYSE:UDR), a leading multifamily real estate investment trust (REIT), has recently increased its second quarter 2011 dividend from 18.5 cents to 20 cents. The quarterly dividend, payable in cash, would be paid on August 1, 2011 to shareholders of record as of July 11, 2011.
The recent dividend payout will be the 155th consecutive quarterly dividend paid by the company. UDR is among a select group of companies who have maintained an uninterrupted dividend payout even during recession, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wednesdays With Wyckoff: Mental Poise And Calm

Posted: 22 Jun 2011 10:46 AM PDT

In his writings, Richard Wyckoff has a penchant for colorful imagery that makes it more fun to learn the concepts than a standard academic textbook.
Today's entry in the "Wednesday with Wyckoff" educational series includes one of his more colorful descriptions of how a trader should adopt a calm mindset and react to opportunities as they develop.
In discussing "Obstacles to Overcome" in his book Studies in Tape Reading, we are treated with the following insights (and imagery about an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 22 Jun 2011 10:45 AM PDT

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Wednesday.<br/><br/> NZD/USD was trading at 0.8178, up 0.63% at time of writing.<br/><br/> The pair was likely to find support at 0.8014, Friday&rsquo;s low, and resistance at 0.8194, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.42% to hit 1.2996 and EUR/NZD falling 0.71% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fed To Sit On Sidelines

Posted: 22 Jun 2011 10:40 AM PDT

The Fed just finished its meeting and here is its current policy statement, along with its previous statement (4/27). I present the two statements on a paragraph-by-paragraph basis, and then intersperse my translation/commentary.

As was universally expected, there was no change in the 0 to 0.25% Fed Funds rate. QE2 is coming to an end, and there is no indication that they will move on to another round of large scale asset purchases, or QE3. However, proceeds from maturing securities will be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Be Cautious About Europe”

Posted: 22 Jun 2011 10:40 AM PDT

06/22/11 DME Securities’ Alan Valdes discusses the issues surrounding Fed and Greece, and the ramifications on the currency and equity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Lennar Corp.

Posted: 22 Jun 2011 10:35 AM PDT

Lennar Corp. (NYSE:LEN) announced that it will release its second quarter 2011 results before the market opens on June 23, 2011. Miami, Florida-based Lennar Corp. earned a profit of 14 cents per share in the first quarter, comprehensively beating the Zacks Consensus Estimate of a loss of 6 cents per share.
For the upcoming quarter, the Zacks Consensus Estimate for Lennar Corp. is pegged at a profit of 4 cents per share, reflecting an annualized decline of 79%. The upside potential for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

New Contracts For Avnet EM

Posted: 22 Jun 2011 10:35 AM PDT

Avnet Electronics Marketing (EM) Americas, a division of Avnet Inc. (NYSE:AVT) recently collaborated with NXP and introduced Speedway Design Workshop, USB Made Easy.
Based on NXP's Cortex-M USB portfolio, USB Made Easy will assist designers in developing USB applications. These Speedway trainings are offered in numerous cities across the United States and will commence in July.
With hands-on labs as an important attribute, Avnet's team of field application engineers will impart training, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apogee Beats Estimates

Posted: 22 Jun 2011 10:35 AM PDT

The leader in technologies for the design and development of value-added glass products Apogee Enterprises Inc. (NASDAQ:APOG) recently announced fiscal 2012 first quarter results, minimizing its per share loss to 8 cents from 13 cents in the year-earlier quarter, ahead of the Zacks Consensus Estimate of 11 cents.
The company continues to incur losses due to the ongoing weakness in commercial construction market conditions.
Apogee's total revenue increased 7% to $153.3 million in the reported … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MI-BMO Merger Gets Regulatory Nod

Posted: 22 Jun 2011 10:35 AM PDT

Marshall & Ilsley Corporation (NYSE:MI) and Bank of Montreal (NYSE:BMO) merger deal is right on track for completion, following the final regulatory approval on Tuesday. With this regulatory nod, the parties have finally garnered all necessary approvals required to complete the merger.
With regard to this, BMO stated that its plan to proceed with common share offering to finance MI merger has been shelved because of its strong capital position. The deal is now expected to close on July 5.
In May, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Will Credit Unions Replace Banks?

Posted: 22 Jun 2011 10:35 AM PDT

On the one hand, banks are figuring out ways to recover some money that they are bound to lose due to the imminent cut in interchange fees, as dictated in the Wall Street reform legislation last year.
On the other hand, credit unions are gaining more popularity among consumers as alternatives to banks for their higher rates and lower fees. This recent development in the banking sector was reported in The Street on Tuesday.
The trend is expected to gradually transmit the profit origin of banks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JPMorgan-SEC Settle CDO Charges

Posted: 22 Jun 2011 10:35 AM PDT

JPMorgan Chase & Co.'s (NYSE:JPM) U.S. broker-dealer affiliate, J.P. Morgan Securities LLC, has agreed to pay $153.6 million to settle charges with the U.S. Securities and Exchange Commission (SEC). The SEC had alleged the bank of misleading investors in a synthetic collateralized debt obligation (CDO) known as Squared CDO 2007-1 that was tied to the U.S. housing market.
The investors suffered significant losses on their investments in this product when the housing market collapsed. As part … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EU Label Update For Tysabri

Posted: 22 Jun 2011 10:35 AM PDT

Recently, Biogen Idec, Inc. (NASDAQ:BIIB) and partner Elan Corporation (NYSE:ELN) announced that the European Commission (EC) has approved an update to the label for their multiple sclerosis (MS) drug Tysabri (natalizumab) in the European Union (EU). The updated label includes anti-JC Virus antibody status as an additional factor that could help stratify the risk of progressive multifocal leukoencephalopathy (PML) occurring in patients treated with Tysabri.
The EC's decision for the label update does … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Fed Unched.

Posted: 22 Jun 2011 10:18 AM PDT

Cusick’s Corner
I am writing this into today’s Fed number so I will be brief. Unless there is a major shift in policy language or lack of unanimous agreement, the market looks ready to challenge to the upside. In other words, I will be watching to see if dips are being bought or if we just run to resistance of 1300 on the S&Ps, challenge, then roll to the upside. I will have more to say in the After Hours.
Stock market averages have battled back from morning losses and are little changed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Norway Central Bank Holds Interest Rate At 2.25%

Posted: 22 Jun 2011 10:17 AM PDT

Norway’s central bank, Norges Bank, maintained its key policy rate at 2.25%, and signaled a possible further rate increases. The Bank said: “Overall, the Executive Board is of the view that the key policy rate should gradually be raised through the latter half of 2011, against the background of the current outlook and balance of risks.  An unexpected jump in activity or in price and cost inflation may lead to a more pronounced upward shift in the key policy rate than currently … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Namibia Central Bank Holds Interest Rate At 6.00%

Posted: 22 Jun 2011 10:05 AM PDT

The Bank of Namibia held its benchmark interest rate, the repurchase rate, at 6.00%.  The Bank said: “It is the view of the EC [Executive Committee] that the observed growth momentum at the beginning of the year that created an impression that recovery was consolidating was not firmly entrenched,”… ”The EC also observed that inflation has increased, but still remains in tolerable levels, especially the underlying inflation,”

The Namibian central bank also held its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Slides On Data, Profit Taking

Posted: 22 Jun 2011 05:00 AM PDT

06/22/11 The euro currency posted a slight drop this session against the dollar on profit taking over Greece’s vote of confidence and weak economic data in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down In U.S. Trade

Posted: 22 Jun 2011 10:00 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Wednesday.<br/><br/> GBP/USD was trading at 1.6132, down 0.70% at time of writing.<br/><br/> The pair was likely to find support at 1.6094, Friday&rsquo;s low, and resistance at 1.6262, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.72% to hit 0.8936 and GBP/JPY falling 0.78% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Why Investors Shouldn’t Ignore The Steel Industry

Posted: 22 Jun 2011 09:57 AM PDT

Why Investors Shouldn't Ignore the Steel Industry
by Marc Lichtenfeld, Senior Analyst, Investment U
Wednesday, June 22, 2011: Issue #1540
While most investors are focused on precious metals, I prefer to look for investment opportunities in markets less traveled.
Sure, precious metals are still wildly popular – or not popular enough – depending on who you ask. And they're always in the mainstream consciousness. Either the dollar is going to be worthless and gold and silver will be the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

I Wonder What Is Being Sold On Strength Today

Posted: 22 Jun 2011 09:56 AM PDT

Well, it’s now the NOON hour EST and we have the SP-500 just turning flat after being a little more green earlier this morning, gold is up about .5% but starting to fade, silver is up .5% but starting to fade, and GDX (gold miners) are very happy and +1.80%.

Just for the yucks of it, I wondered if anything in particular was being sold on strength this morning on the NYSE, so I took a peek.  If you want to, look at this chart and you can take a peek, too.  I’m not saying it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Lower; Dax Down 0.10%

Posted: 22 Jun 2011 09:55 AM PDT

Forex Pros – European stocks were down after the closing bell on Wednesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.10%, London&rsquo;s FTSE 100 shed 0.04%, France&rsquo;s CAC 40 declined 0.15% and the EURO STOXX 50 was down 0.25%.<br/><br/> Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was up 0.05%; the S&P 500 index gained 0.13%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Federal Reserve Holds Monetary Policy Settings Unchanged

Posted: 22 Jun 2011 09:36 AM PDT

The US Federal Open Market Committee held the fed funds rate unchanged at 0 to 0.25 percent, and announced that it would finish the $600 billion asset purchase program or “Quantitative Easing II”.  On quantitative easing the statement noted: “The Committee will complete its purchases of $600 billion of longer-term Treasury securities by the end of this month and will maintain its existing policy of reinvesting principal payments from its securities holdings.  The Committee … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

QE Or Not QE? That Is The Question

Posted: 22 Jun 2011 09:25 AM PDT

While the media is customarily thought to disseminate news, there is a far more intriguing purpose in the role of the relationship between the national mindset and the intended purposes of economic establishment.
It has ever been thus, going back to Shakespeare's Salanio character in "Merchant of Venice." Upon meeting colleagues, the characters would greet each other with the question: "Now, what news on the Rialto?"
The Rialto was a place where the powers that be would meet in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bond Rally Loses Steam – Awaiting Words From Bernanke

Posted: 22 Jun 2011 09:12 AM PDT

Government bonds remain higher although off earlier highs as fears remained elevated over Greek Prime Minister Papandreou's ability to muscle through deep austerity measures. Late on Tuesday lawmakers gave the Prime Minister the vote of confidence he'd asked for but onlookers failed to find solace in the aftermath, recognizing instead that the more difficult task ahead will be convincing Parliament that €78 billion of spending cuts is in the interests of its nation.
European bond markets … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Steady, Near $94

Posted: 22 Jun 2011 07:30 AM PDT

06/22/11 Front month crude prices remained near $94 a barrel this morning on continued volatile trade in the forex … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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