Monday, June 27, 2011

DailyMarkets.com - Forex – USD/JPY Down On Economic Data

DailyMarkets.com - Forex – USD/JPY Down On Economic Data

Forex – USD/JPY Down On Economic Data

Posted: 27 Jun 2011 05:10 PM PDT

Forex Pros – pros – The U.S. Dollar was lower against the Japanese Yen on Tuesday after the release of Japanese data on Retail Sales.<br/><br/> USD/JPY was trading at 80.81, down 0.10% at time of writing.<br/><br/> The pair was likely to find support at 80.13, Friday&rsquo;s low, and resistance at 80.98, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Japanese retail sales fell less-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japan’s Retail Sales Fall Less-than-expected

Posted: 27 Jun 2011 05:05 PM PDT

Forex Pros – pros – Japanese retail sales fell less-than-expected last month, official data showed on Monday.<br/><br/>In a report, the Ministry of Economy Trade and Industry said that retail sales fell to a seasonally adjusted annual rate of -1.3%, from -4.8% in the preceding month.<br/><br/>Analysts had expected retail sales to fall at annual rate of -2.2% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up In Asian Trade

Posted: 27 Jun 2011 05:05 PM PDT

Forex Pros – pros – The Euro was higher against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4297, up 0.06% at time of writing.<br/><br/> The pair was likely to find support at 1.4103, Monday&rsquo;s low, and resistance at 1.4333, Thursday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.12% to hit 0.8946 and EUR/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Sectors To Watch

Posted: 27 Jun 2011 04:18 PM PDT

Cusick’s Corner
While the market held onto the midday gains, the volume was light and the Greek austerity vote is still a headline risk in the market during this pre-vacation week. So while we watch the potential headlines overseas, do not lose sight of other barometers, .i.e. the offensive sectors, XLY, QQQ, XLF and XLI. Traders like to see three out of the four of these sectors performing not only to the upside but also outperforming a major benchmark like the S&Ps. At this stage we have … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down During Asian Trade

Posted: 27 Jun 2011 04:15 PM PDT

Forex Pros – pros – The U.S. Dollar was lower against the Japanese Yen on Monday.<br/><br/> USD/JPY was trading at 80.84, down 0.06% at time of writing.<br/><br/> The pair was likely to find support at 80.02, Wednesday&rsquo;s low, and resistance at 80.98, today&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.14% to hit 1.4308 and GBP/USD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AT&T To Roll Out CDN Services

Posted: 27 Jun 2011 04:05 PM PDT

AT&T (NYSE:T) has recently introduced its new cloud-based Content Delivery Network (CDN) platform. The launch comes close on the heels of Sprint Nextel's (NYSE:S) decision to offer Managed Telepresence Services to attract corporate customers. It is also indicative of AT&T foray into the promising enterprise market. 
The CDN platform involves a cloud computing system that stores data located at various nodal networks. This is make access to digital content like media files, software, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AT&T To Roll Out CDN Services

Posted: 27 Jun 2011 04:05 PM PDT

AT&T (NYSE:T) has recently introduced its new cloud-based Content Delivery Network (CDN) platform. The launch comes close on the heels of Sprint Nextel's (NYSE:S) decision to offer Managed Telepresence Services to attract corporate customers. It is also indicative of AT&T foray into the promising enterprise market. 
The CDN platform involves a cloud computing system that stores data located at various nodal networks. This is make access to digital content like media files, software, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Gas Prices Fall At The Pump

Posted: 27 Jun 2011 03:57 PM PDT

06/27/11 The national average for a gallon of unleaded gasoline declined, ahead of the July 4th holiday … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RBS Boosts Chinese Investment

Posted: 27 Jun 2011 03:35 PM PDT

Royal Bank of Scotland Group Plc. (NYSE:RBS) has boosted its investment banking business in China by appointing two senior investment bankers to its team.
RBS appointed Wei Wang as head of China financial institutions group and Qing Zhu as head of China energy and resources. Wang previously served in Citigroup Inc. (NYSE:C) as head of the public sector group at Citibank China. Zhu came from JPMorgan Chase & Co. (NYSE:JPM) in which he was a banker on China's natural resources and real estate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cepheid Targets Infectious Diseases

Posted: 27 Jun 2011 03:35 PM PDT

Cepheid (NASDAQ:CPHD) announced the appointment of Robert Kwiatkowski as the Vice President of Infectious Disease Research and Development. He would be reporting to David Persing, the company's Chief Medical and Technology Officer.
Dr. Kwiatkowski walks into Cepheid with extensive experience in nucleic acid infectious disease test development and management, including tests for HPV, HIV and HCV. Before this appointment, Dr. Kwiatkowski was responsible for managing infectious disease test … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Shire To Produce More Replagal

Posted: 27 Jun 2011 03:35 PM PDT

UK-based Shire (NASDAQ:SHPGY) recently announced that the European Medicines Agency (EMA) has increased the company's manufacturing flexibility for Replagal (agalsidase alfa), an enzyme replacement therapy approved for treating Fabry disease.
The EMA declared that Replagal can be purified at its new manufacturing facility located in Lexington. The European approval for the new manufacturing facility for Replagal was sought by Shire in April 2011.
The approval grants Shire, the global market leader … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up In Asian Trade

Posted: 27 Jun 2011 03:35 PM PDT

Forex Pros – pros – The New Zealand Dollar was higher against the U.S. Dollar on Monday.<br/><br/> NZD/USD was trading at 0.8064, up 0.09% at time of writing.<br/><br/> The pair was likely to find support at 0.8009, today&rsquo;s low, and resistance at 0.8194, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.05% to hit 1.2968 and EUR/NZD falling … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Picks For Tuesday, June 27

Posted: 27 Jun 2011 03:24 PM PDT

  ( click to enlarge )

Shares of Northern Oil & Gas, Inc. (NOG), surged for the third straight day by adding 3.89% or 75 cents to $20.05 per share. Momentum indicators are slightly bullish now with RSI inching away above the middle level. The technical daily chart shows the stock was on a bouce back rally as %K line is rising on top of %D line. The strongest sign of a bullish momentum is the MACD indicator which has just started to increase. The On Balance Volume is also showing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: S&P Case-Shiller Home Price Index, Conference Board’s Consumer Confidence, UK GDP, German GfK Consumer Confidence

Posted: 27 Jun 2011 10:20 AM PDT

06/27/11 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

Foster Wheeler Wins Contract

Posted: 27 Jun 2011 03:05 PM PDT

Foster Wheeler AG's (NASDAQ:FWLT) subsidiary Global Engineering and Construction Group won a contract from Sasol to execute the technical part of a viability study for a planned gas-to-liquids facility in Canada. The study is being carried out by a partnership of Sasol and Talisman Energy. It is expected that the technical part of the study will be completed during the fourth quarter of 2011.
At the facility, Sasol's GTL technology will be used to convert Shale gas to GTL naphtha, diesel and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Campbell Rewards Shareholders

Posted: 27 Jun 2011 03:05 PM PDT

Campbell Soup Co. (NYSE:CPB), diligent in rewarding shareholders, announced a share buyback of $1 billion sans expiration date. The new share buyback plan replaces the $1.2 billion which the company had announced in June 2008.
To further accelerate shareholder value, the company also announced a regular quarterly dividend of 29 cents a share payable on August 1, 2011, to shareholders of record as on July 11, 2011.
In a separate development, Campbell also named Denise Morrison as the President and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brookfield Sells Assets

Posted: 27 Jun 2011 03:05 PM PDT

Brookfield Office Properties Inc. (NYSE:BPO) recently sold an office tower at 1400 Smith Street in Houston for approximately $340.0 million to Chevron Corp (CVX ) . Additionally, Brookfield also renewed a seven-year lease for a 311,000 square feet property at the Continental Center I.
In 2006, Brookfield had acquired this 1.3 million square feet office tower and leased it to Chevron. After the completion of this asset sale, Chevron, which was once the tenant now becomes the owner of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Philip Morris Fights Aussie Crackdown

Posted: 27 Jun 2011 03:05 PM PDT

Tobacco giant Philip Morris International Inc. (NYSE:PM) has threatened the Australian government for the proposed ban on cigarette-packaging advertisements and expects to seek billions of Australian dollars in financial compensation.
Under the proposed laws of Australia, Canberra wants to be the first government in the world to restrict logos, branding, colors and promotional text on tobacco packets beginning in January 1, 2012. Moreover, the government plans to outlaw logos on cigarette packs … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Interesting Pattern Repetition To Monitor In Gold

Posted: 27 Jun 2011 02:50 PM PDT

There seems to be a clean pattern repeating itself today that developed exactly one year ago which I'm finding interesting.
Let's take a look at the pattern then, compare it to now, and over the next few weeks, see if the current future pathway of the pattern plays out as it did back in July 2010.
First, here's the broader picture which shows the repeating pattern of price swings:

First, the little numbers in the chart are NOT Elliott Waves – they're just calling attention to the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apple Sues Samsung In S. Korea

Posted: 27 Jun 2011 02:35 PM PDT

Apple Inc. (NASDAQ:AAPL) recently filed a lawsuit in South Korea against Samsung Electronics Co. Ltd., alleging infringement of several patents, as reported by news agencies Reuters and Bloomberg.
The latest lawsuit counters Samsung's patent infringement claims against Apple. Samsung filed a number of lawsuits in South Korea, Japan and Germany in April 2011.
The legal tussle started over Samsung's Galaxy line of tablet and smartphone products, which Apple claimed to have been copied from its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NCR Selected By Anheuser Busch

Posted: 27 Jun 2011 02:35 PM PDT

NCR Corporation (NCR), a leading technology and solutions provider for the retail and financial services industry, has recently won a contract from Anheuser-Busch InBev (NYSE:BUD) Employees’ Credit Union (ABECU). The company has deployed NCR's APTRA eMarketing cross-channel marketing software, delivering personalized and relevant marketing to members online and through email.
ABECU effectively utilized APTRA eMarketing to efficiently communicate with its members across multiple channels. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CBB To Offer Energy Services

Posted: 27 Jun 2011 02:35 PM PDT

Telecom services provider Cincinnati Bell Inc. (NYSE:CBB) is entering into a new business arena that allows it to offer energy services to its residential customers through its new subsidiary Cincinnati Bell Energy.
Cincinnati Bell inked a partnership deal with Connecticut-based renewable energy supplier, Viridian Energy, to provide electric services at discounted energy rates unlike local utilities' companies. The energy rate will be 30% less than Duke Energy Corporation's (NYSE:DUK) regulated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Will The Market Be Sideways For Awhile?

Posted: 27 Jun 2011 02:17 PM PDT

iStockAnalyst thinks there is a probability of  "60% that sideways  is the most likely outcome" of the NASDAQ. "Until the index breaks resistance at 2700 or falls through support at 2600, both levels are likely to act like bumper car rails".  In their view, " the biggest July fireworks show will come from second quarter earnings and forward guidance, July's GDP and Employment Situation reports. The trio will determine which way we go with great … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Anatomy Of Naked Put Trades

Posted: 27 Jun 2011 02:05 PM PDT

Today I review two short or "naked" put trades I have talked about this month to show examples of how this option technique can be used successfully to either generate income or to buy your favorite names at a discount. On paper, one of the open trades is a winner, and one is a loser. But even the loser I am very comfortable with and I will explain why in detail.

We'll knock out the winner first and review the positive rationale and mechanics for using puts to earn option premium or to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AthenaHealth Buys Maine Facility

Posted: 27 Jun 2011 02:05 PM PDT

Medical billing and records software provider AthenaHealth Inc (NASDAQ:ATHN) has wrapped up its purchase of a new property in Northport, Maine, for $7.7 million. The facility dubbed "Point Lookout" is situated near the Massachusetts-based company's operations center in Belfast, Maine, which employs more than 300 people. AthenaHealth plans to use the 396 acre property as its new client and employee training center.
The oceanside Northport facility includes 160 cabins which can accommodate 260 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CMS Energy Goes Green In Michigan

Posted: 27 Jun 2011 02:05 PM PDT

Consumers Energy, the major subsidiary of CMS Energy (NYSE:CMS) has got into an agreement to purchase the total renewable energy output produced by the Fremont Community Digester ("FCD"). The contract is in line with the utility’s commitment to increase spending in Michigan following the launch of new Pure Michigan Business Connect initiative in early June by the Michigan Economic Development Corporation.
CMS Energy will purchase approximately 380,000 megawatt-hours (MWh), or 19,000 MWh per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: CNU, SWK, MSFT

Posted: 27 Jun 2011 02:00 PM PDT

06/27/11 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

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

Posted: 27 Jun 2011 01:55 PM PDT

Forex Pros – pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> EUR/USD was trading at 1.4284, up 0.67% at time of writing.<br/><br/> The pair was likely to find support at 1.4103, today&rsquo;s low, and resistance at 1.4442, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a seasonally … [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: 27 Jun 2011 01:40 PM PDT

Forex Pros – pros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on Personal Spending.<br/><br/> USD/JPY was trading at 80.91, up 0.59% at time of writing.<br/><br/> The pair was likely to find support at 80.02, Wednesday&rsquo;s low, and resistance at 80.98, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PEG To Sell Texas Power Plant

Posted: 27 Jun 2011 01:35 PM PDT

PSEG Power LLC, a unit of Public Service Enterprise Group Inc. (NYSE:PEG) announced that it has agreed to the sale of its 1,000 MW gas-fired Odessa generating facility in West Texas. The facility would be sold to Odessa Power, LLC, a subsidiary of Energy Capital Partners II, LP for $335 million.
Public Service Enterprise expects to close the sale during the third quarter of 2011. PSEG Power's Odessa plant is one of the two 1,000 MW gas-fired power plants it has in Texas. The sale of the other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EA Latest Prey Of Cyber Attack

Posted: 27 Jun 2011 01:35 PM PDT

The growing menace of cyber hacking has found its new victim in Electronic Arts Inc. (NASDAQ:ERTS) this time, as the company's website reported that hackers have stolen user information. The video game maker reported the breach in its BioWare division as "highly sophisticated and unlawful."
Hackers breached the servers related to "Neverwinter Nights," produced by BioWare Edmonton, and supposedly stole user names, encrypted passwords, email addresses, mailing addresses, names, phone numbers … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nissan Sees A Droopy Year

Posted: 27 Jun 2011 01:35 PM PDT

Nissan Motor Co. (NASDAQ:NSANY) revealed that it expects a 15.4% fall in profit to ¥270 billion ($3.4 billion) due to the setback from the earthquake and tsunami in Japan on March 11 that broke down infrastructure and damaged many parts supplying companies' plants causing disruptions in the supply chain.
The Japan's third largest automaker also anticipates a 14.4% dip in operating profit to ¥460 billion ($5.73 billion) due to the same reason. For the fiscal year ended March 31, 2011, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hacked Citi Customers Lose $2.7M

Posted: 27 Jun 2011 01:35 PM PDT

Around 3,400 customers of Citigroup Inc. (NYSE:C) whose credit card information was hacked suffered $2.7 million in losses, according to a report in the Wall Street Journal. This latest information came to light when government officials were informed by Citi about the data leak.
Earlier Citi had revealed the extent of the recent security breach it faced after hackers got access to hundreds of thousands of its credit card customers' information in North America. Management affirmed that around … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 27 Jun 2011 01:25 PM PDT

Forex Pros – pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> EUR/USD was trading at 1.4280, up 0.64% at time of writing.<br/><br/> The pair was likely to find support at 1.4103, today&rsquo;s low, and resistance at 1.4442, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Higher; Dow Jones Up 0.91%

Posted: 27 Jun 2011 01:10 PM PDT

Forex Pros – pros – U.S. stocks were up after the closing bell on Monday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 0.91%, the S&P 500 index gained 0.92%, while the Nasdaq 100 index climbed 1.59%.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a seasonally adjusted 0.0% last month from 0.3% in the preceding month whose figure was revised down from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Still Bearish On Sunoco

Posted: 27 Jun 2011 01:00 PM PDT

We have maintained our Underperform recommendation on oil refiner and marketer Sunoco Inc (NYSE:SUN). Lately, investors have been selling the stock for its weak fundamentals and tepid outlook. The disappointing first quarter results have added to this bearishness.
Sunoco, which competes in the Oil Refining and Marketing industry with firms like Valero Energy Corp. (NYSE:VLO) and Tesoro Corp. (NYSE:TSO), currently has a Zacks #4 Rank (Sell rating) for the short run. In recent times, a number of issues … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NYSE Reconciles With Investors

Posted: 27 Jun 2011 01:00 PM PDT

Last week, NYSE Euronext Inc. (NYSE:NYX) and its merger partner Deutsche Boerse AG agreed to reconcile with the NYSE investors over a special dividend payout of $910 million, which was announced earlier this month.
In February this year, NYSE and Deutsche Boerse had agreed to merge, in a $10 billion deal, based on regulatory approvals. However, a furore rose among the investors of NYSE when the company rejected NASDAQ OMX Group Inc. (NASDAQ:NDAQ) and IntercontinentalExchange Inc.'s (NYSE:ICE) … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 27 Jun 2011 12:55 PM PDT

Forex Pros – pros – The British Pound was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> GBP/USD was trading at 1.5980, up 0.14% at time of writing.<br/><br/> The pair was likely to find support at 1.5914, today&rsquo;s low, and resistance at 1.6262, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SOLD DAG – $12.78

Posted: 27 Jun 2011 12:38 PM PDT

Click on the chart to ENLARGE

I bought and sold this DB Agriculture Double Long ETN (DAG) in about 3 hours and made 1.8%.  Nothing impressive.  I continue to think the positive divergence that gave me a small gain will assist share price higher, but I lost my interest. There are other fish to fry.

Hey how about that ZSL today? +4.14% today with 20 minutes of trade left to go. It looks to me like it needs to take a breather, TSI wise, but I’ll keep holding that trade, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UnitedHealth Takes DoD To Court

Posted: 27 Jun 2011 12:35 PM PDT

UnitedHealthcare, a division of UnitedHealth Group Inc. (NYSE:UNH) sued the U.S. Department of Defense (DoD) in the U.S. Court of Federal Claims after it lost the $23.5 billion 5-year Tricare South contract to Humana Inc. (NYSE:HUM).
The Tricare South contract covers 3 million military members and their families in 11 southern states. In July 2009, UnitedHealth won the contract form Humana. But after continuous protests by Humana, DoD reviewed its decision and awarded the $23.5 billion 5-year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ford China Breaking New Ground

Posted: 27 Jun 2011 12:35 PM PDT

Ford Motor Co. (NYSE:F) broke ground on a $500 million engine plant in the southwestern city of China, Chongqing. The plant, once in full swing in 2013, will double the production capacity of its joint venture (JV), Changan Ford Mazda Automobile Co., to 750,000 units per year. The engines will be used in Ford branded vehicles built and sold in China.
Ford has embarked upon an aggressive expansion plan in China that includes plans to triple its lineup in China by introducing 15 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 27 Jun 2011 12:30 PM PDT

Forex Pros – pros – The U.S. Dollar was higher against the Swiss Franc on Monday after the release of U.S. data on Personal Spending.<br/><br/> USD/CHF was trading at 0.8361, up 0.31% at time of writing.<br/><br/> The pair was likely to find support at 0.8320, today&rsquo;s low, and resistance at 0.8438, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Window Dressing

Posted: 27 Jun 2011 12:17 PM PDT

Cusick’s Corner
Window dressing — the grind to the upside could be a combination of some end of the quarter window dressing with a twist of shorts being squeezed. The market has again held critical support, 1256 on the S&Ps, and found legs to bounce, plus Tech is leading again. Now I take this all with a grain of salt so early in the trading week, especially going into the long 4th of July weekend and the Austerity vote in Greece. One market that I did review over the weekend was Silver, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Favorable Opinion For Baxter Drug

Posted: 27 Jun 2011 12:15 PM PDT

Baxter International (NYSE:BAX) recently revealed that the Committee for Medicinal Products for Human Use ("CHMP") belonging to the European Medicines Agency ("EMA") has given a favorable opinion for extending the therapeutic indications of Kiovig to encompass a new indication for multifocal motor neuropathy ("MMN"), a debilitating disorder needing life-time therapy.
Following acceptance by the European Commission, Baxter will be granted marketing authorization for the Kiovig MMN … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BioMarin To Buy Pfizer Plant

Posted: 27 Jun 2011 12:15 PM PDT

BioMarin Pharmaceutical Inc. (BMRN) recently announced that it will acquire an integrated biologics manufacturing plant from pharma giant Pfizer Inc. (NYSE:PFE) which will expand its manufacturing capacity to manage its proliferating product portfolio and its maturing pipeline.
The plant, for which BioMarin will pay $48.5 million, is located in Shanbally, Cork, Ireland and is spread across 133,000 square feet. The purchase price is almost five times less than the cost of building a new facility. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On PPG Industries

Posted: 27 Jun 2011 12:15 PM PDT

We are maintaining our Neutral recommendation on PPG Industries Inc. (NYSE:PPG). The company expects to see higher demand in 2011 compared with 2010, but intends to remain focused on continued cost management entered in 2011 with about $2 billion in cash and short-term investments, which is a historically high level for the company and includes proceeds from a $1 billion debt offering in November 2010.
Despite the recession, the company's cash generation has been consistent and at or near record … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Down In U.S. Trade

Posted: 27 Jun 2011 12:10 PM PDT

Forex Pros – pros – The U.S. Dollar was lower against the Canadian Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> USD/CAD was trading at 0.9870, down 0.15% at time of writing.<br/><br/> The pair was likely to find support at 0.9702, Wednesday&rsquo;s low, and resistance at 0.9913, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Orders Flow For ABB

Posted: 27 Jun 2011 12:05 PM PDT

ABB Ltd. (NYSE:ABB) received a contract from the transmission system operator in Finland, called Fingrid, for expansion and upgrade of an existing 400/110 kV (kilovolt) substation. The contract is valued at $19 million and is a part of the project to solidify Finland's main electrical grid. The extensive investment program being undertaken also aims at arranging the addition of a new carbon neutral electricity generation capacity to the grid.
Designing, engineering, supplying, erection and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sears Spins Off Hardware Chain

Posted: 27 Jun 2011 12:05 PM PDT

Sears Holdings Corporation (NASDAQ:SHLD) declared that it is spinning off its hardware chain, Orchard Supply Hardware Stores, after five continuous years of bad performance. Sears believes that Orchard Supply will perform way far better and yield good returns to its shareholders as a separate, publicly traded company. Orchard Supply was originally founded in 1931 as a farmer-run purchasing co-op in San Jose, Calif., and was bought by Sears, Roebuck in 1989.
The hardware chain, which has 89 stores in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BSD Medical Makes Classic Pact

Posted: 27 Jun 2011 12:05 PM PDT

Cancer treatment systems maker BSD Medical Corp (NASDAQ:BSDM) has forged an exclusive distribution pact with Classic Medical Inc. (Classic Medical) for its MicroThermX Microwave Ablation system for soft tissue ablation (destruction).
Classic Medical is a leading distributor of minimally-invasive surgical products with a rich history of selling state-of-the-art surgical devices made by some of the major medical companies in the U.S. Moreover, the entity has long-term associations with doctors, key … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

How Big U.S. Companies Would Rank As Countries

Posted: 27 Jun 2011 12:03 PM PDT

Based on 2010 sales revenue, Business Insider has a list of how 25 of America’s largest companies compare to the GDP of entire countries in 2010, here are the top three:

1. With 2010 revenues of $414 billion, Walmart would rank as the world’s 26th largest economy, right behind #25 Norway, which produced $422 billion of GDP last year.

2. Exxon would rank as the world’s 30th largest economy with $355 billion of revenue, ahead of Thailand’s $319 billion of GDP. 

3. Chevron would rank #46 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Stops! The 100 And 200 Hour MA Contain The Price

Posted: 27 Jun 2011 11:48 AM PDT

The last three hours of trading has all but halted the price action in the EURUSD. The 100 hour MA is at the 1.4274. The 200 hour MA is at 1.4258. The three hour low to high range has been 1.4281 and 1.4254.  Traders with a bias can use the levels to lean against and define risk. Traders without a bias can wait for a break and buy or sell.  On a break, look for momentum to confirm the move and target close levels. For example, a break above the 100 hour MA would need to tak out the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 27 Jun 2011 11:45 AM PDT

Forex Pros – pros – The Euro was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> EUR/USD was trading at 1.4270, up 0.57% at time of writing.<br/><br/> The pair was likely to find support at 1.4103, today&rsquo;s low, and resistance at 1.4442, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Vornado’s Share In Toys ‘R’ Us Loss

Posted: 27 Jun 2011 11:35 AM PDT

Vornado Realty Trust (NYSE:VNO), a leading real estate investment trust (REIT), has recently announced its share of first quarter 2011 financial results of Toys 'R' Us – a leading global retailer of dedicated toys and baby products. Vornado Realty, which currently owns about 32.7% of Toys 'R' Us, will record its share when it reports its second quarter results for the quarter ending June 30, 2011.
Earlier, Toys 'R' Us had reported fiscal 2011 first quarter loss of $67 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Outlook Gloomy For Universal Forest

Posted: 27 Jun 2011 11:30 AM PDT

Universal Forest Products Inc. (NASDAQ:UFPI) recently announced to undertake stringent economic measures including job cuts citing weaker sales in the first five months of year 2011. The cost-reduction measures are expected to save roughly $10 million annually for the company.
Sales in the first five months fell 9.5% year over year to $765 million, including a 15% decline in net sales to retail customers. Moreover, weakness in lumber market coupled with higher fuel prices led to a decline in gross … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EIA Reports Hefty Nat Gas Build

Posted: 27 Jun 2011 11:30 AM PDT

The U.S. Energy Department’s weekly inventory release showed a larger-than-expected build-up in natural gas supplies on the back of robust production levels and moderate weather across much of the country.
The Weekly Natural Gas Storage Report – brought out by the Energy Information Administration (EIA) every Thursday since 2002 – includes updates on natural gas market prices, latest storage level estimates, recent weather data and other market activity or events.
The report provides an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Medtronic Actively Checks Diabetes

Posted: 27 Jun 2011 11:30 AM PDT

In a positive development, research findings presented at a recent conference mirrors the effectiveness of Medtronic's (NYSE:MDT) insulin pump therapy for improved glucose control in type 1 diabetic patients. The company offers sensor-augmented insulin pump therapy that integrates continuous glucose monitoring (CGM) into one device.
In the fourth quarter of fiscal 2011, revenues from Medtronic's Diabetes segment increased 11% year over year (9% at CER) to $368 million driven by 20% growth in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fitch Upgrades FR’s Credit Rating

Posted: 27 Jun 2011 11:30 AM PDT

Fitch Ratings, the global credit rating firm, has recently upgraded the credit rating of First Industrial Realty Trust, Inc. (NYSE:FR), a real estate investment trust (REIT), based on its improved long-term credit profile and strong liquidity. The company is currently rated as "BB", which is significantly up from its previous "B+" rating and denotes a stable outlook with considerable improvement in its balance sheet.
While raising First Industrial's credit rating, Fitch has considered … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Monster Launches BeKnown

Posted: 27 Jun 2011 11:30 AM PDT

Monster Worldwide (MWW) recently launched BeKnown, a professional networking application which is designed to allow Facebook users to establish a professional network on one of the world's most popular social platform.
This new technology, available in 19 different languages, will allow users to identify and connect with friends and professional contacts from multiple sources and grow their professional network. This, in turn, will strengthen their online professional identity and help them … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 27 Jun 2011 11:15 AM PDT

Forex Pros – pros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> AUD/USD was trading at 1.0446, down 0.44% at time of writing.<br/><br/> The pair was likely to find support at 1.0392, today&rsquo;s low, and resistance at 1.0651, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Shell Gets Carbon Capture Aid

Posted: 27 Jun 2011 11:05 AM PDT

Royal Dutch Shell plc (RDS.A) has entered into an agreement with the governments of Alberta and Canada for the funding of its Quest Carbon Capture and Storage (CCS) project in Canada.
The Alberta government will fund C$745 million for the project, while the Canadian government will contribute C$120 million, netting C$865 million ($873 million).
The financing will be done over a period of 15 years, including development, construction and 10 years of operations. However, the funding is subject to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Tests 50% Of Range Since May At 80.96. The 81.05 Is The Next Target

Posted: 27 Jun 2011 10:59 AM PDT

The 50% of the move up from the March low to the April high comes in at 80.96. A move above this level and then the 81.05 level should open the door for addiitional gains for the pair.
The USDJPY has a high of 81.05 and a low of 79.69 since June 6th. The month range of 186 pips (so far) is the narrowest trading range for a calendar month since May 1988 (155 pips). The non trending nature of the range suggests a trend move is more likely soon.
Needless to say, the month of June still has 3 days … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Basel Wants Big Banks To Store More

Posted: 27 Jun 2011 10:47 AM PDT

On Saturday, the oversight body of the Basel Committee on Banking Supervision proposed new rules that would force the world’s biggest banks to hold extra capital on their balance sheets as protection and prevention against global financial crisis, the Associated Press reported. The targeted banks are those that could threaten global economy if they collapse.
This extra capital requirement is an addition to the set of minimum capital standards, known as Basel III, proposed by the regulatory … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NRG, ProLogis’ New Solar Venture

Posted: 27 Jun 2011 10:47 AM PDT

NRG Energy Inc. (NYSE:NRG) and ProLogis Inc. (NYSE:PLD) recently joined hands for a $2.6 billion project to place solar panels on rooftops of industrial buildings in 28 states over a span of four years. The companies said that this is one of the most ambitious clean-energy projects in recent years.
Charlotte, North Carolina-based Bank of America Corporation (NYSE:BAC) has agreed to finance about $1.4 billion for the $2.6 billion solar project. Bank of America said that the U.S. Department of Energy has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

United Sees Slow Rev Growth In Q2

Posted: 27 Jun 2011 10:47 AM PDT

The largest U.S. airline United Continental Holdings Inc. (UAL) announced that it expects lower-than-expected revenue growth in the second quarter of 2011 due to tough year-over-year comparisons.
Following the announcement, the shares of United Continental tumbled 11.1% and closed the trading day with an 8.55% drop in the share price.
In June, United Continental's passenger revenue per seat mile (PRASM) grew only 3–4%, much lower than the 14–15% growth in May. The company expects the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Action Date For Endo Pharma Drug

Posted: 27 Jun 2011 10:47 AM PDT

Endo Pharmaceuticals (NASDAQ:ENDP) recently announced that the US Food and Drug Administration (FDA) has issued a new action date for the new formulation of painkiller Opana ER. The FDA stated that it will review Endo Pharma's response to the agency's complete response letter (CRL) by December 13, 2011.
The new formulation of Opana ER is designed to resist attempts of crushing, breaking, pulverizing or making a powder of the product. The candidate aims to bring relief to patients suffering from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 27 Jun 2011 10:45 AM PDT

Forex Pros – pros – The New Zealand Dollar was lower against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> NZD/USD was trading at 0.8047, down 1.06% at time of writing.<br/><br/> The pair was likely to find support at 0.8009, today&rsquo;s low, and resistance at 0.8194, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Autoliv Remains Neutral

Posted: 27 Jun 2011 10:35 AM PDT

We reiterate our Neutral recommendation on Autoliv Inc. (NYSE:ALV) which is one of the well-known manufacturers of occupant restraint systems for automobiles and has a product portfolio comprising primarily of safety airbags, seat belts and steering wheels. The company, based in Stockholm, Sweden, operates through two principal subsidiaries: Autoliv AB and Autoliv ASP.
Autoliv released its 2011 first quarter results on April 20, 2011.  The company reported net income of $181.5 million or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Another Bank Failure, Tally Hits 48

Posted: 27 Jun 2011 10:35 AM PDT

Last Friday, U.S. regulators shuttered Clayton, Georgia-based Mountain Heritage Bank, taking the number of failed banks thus far in 2011 to 48. This follows 157 bank failures in 2010, 140 in 2009 and 25 in 2008.
While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging issues like rock-bottom home prices along with still-high loan defaults and unemployment levels continue to trouble such … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yahoo-Alipay Settlement In Progress

Posted: 27 Jun 2011 10:35 AM PDT

Yahoo Inc. (NASDAQ:YHOO), Chinese e-commerce firm Alibaba Group Holding Ltd. and Japanese Internet company Softbank Corp. are on track to reach a settlement regarding the ownership of online-payments business Alipay. The trio seems pleased with the progress on the transfer of Alipay, although negotiations continue.
Last year, Alibaba had transferred ownership of Alipay to a company controlled by its CEO Jack Ma. This became the subject of dispute between the three parties. In its defense, Alibaba … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

COPEL Downgraded To Neutral

Posted: 27 Jun 2011 10:35 AM PDT

We recently downgraded our recommendation on Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL, from Outperform to Neutral. Copel is one of the leading Brazilian electric utility companies, which accounts for approximately 7% of total electricity production in the country.
With the gradual recovery of the global economy, demand for electricity is seen to be rising, especially in emerging countries like Brazil. The country's economic outlook is strongly-favorable for the electric … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Personal Income Up Just 0.3% In May

Posted: 27 Jun 2011 10:35 AM PDT

In May, Personal Income rose 0.3%, matching from the 0.3% rise in April and down from the 0.4% rise in March, but only after the April numbers were revised down from 0.4%. The increase was below the consensus expectation of a 0.4% increase.

Meanwhile, Personal Consumption Expenditures (PCE) were unchanged, lower than the consensus expectation of a 0.1% rise. That is a deceleration from the 0.3% rise in April and the 0.6% increase in March.

Of course, if spending is unchanged and income is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Moody’s Upgrades Prudential

Posted: 27 Jun 2011 10:35 AM PDT

Last week, credit rating agency Moody's Investors' Service, a subsidiary of Moody's Corp. (NYSE:MCO), affirmed the debt rating of Prudential Financial Inc. (NYSE:PRU) at "Baa2" and upgraded its outlook to positive from stable. 
Prudential has one of the best collections of businesses in the U.S. life insurance sector, with strong positions in high margin businesses and a significant diversification. Although the persistently volatile economic environment created a drag on revenues, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Darden

Posted: 27 Jun 2011 10:35 AM PDT

Darden Restaurants Inc. (NYSE:DRI) is slated to release its fourth quarter 2011 earnings on June 30, after market closes. The current Zacks Consensus Estimate is 99 cents for the fourth quarter (reflecting a year-over-year growth of 15.65%).
Darden has outperformed the Zacks Consensus Estimate thrice and missed once in the last four quarters. The average earnings surprise was a positive of 1.50%.
Third Quarter Flashback
Darden's third quarter fiscal 2011 earnings of $1.08 per share were ahead of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Options Strategy Suggests Yahoo! May Be Next Comeback Kid

Posted: 27 Jun 2011 10:23 AM PDT

Options strategy suggests Yahoo! may be next comeback kid
Today's tickers: YHOO, USU, XLK & HGSI
(NASDAQ:YHOO) – Yahoo!, Inc. – The more than 21% correction in the value of Yahoo's shares since the start of May has one options strategist positioning for a rebound in the price of the underlying by August expiration. Shares in the online media company are down 0.50% today to stand at $14.82 in early-afternoon trade. The bullish options player picked up 7,500 in-the-money calls at the August … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Entire World Is Nervous…watch And Be Careful”

Posted: 27 Jun 2011 10:20 AM PDT

06/27/11 Meridian Equity Partners’ Stephen Guilfoyle discusses today’s advance in US stocks and ongoing Euro-zone debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Of Israel Holds Benchmark Rate At 3.25%

Posted: 27 Jun 2011 10:13 AM PDT

The Bank of Israel held its benchmark interest rate unchanged at 3.25%.  The Bank noted: “In the first half of the year the Bank of Israel raised the interest rate markedly.  At the same time, steps were taken by the Bank of Israel and the Ministry of Finance in the housing market.  In addition, the shekel appreciated over recent months and there was a decline in commodity prices.  The impact on inflation of these items is expected to be felt in the future. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Risk Appetite Returns, Euro Rises

Posted: 27 Jun 2011 05:00 AM PDT

06/27/11 Risk appetite returned to start the week as the euro was trading higher against its major … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Up In U.S. Trade

Posted: 27 Jun 2011 10:00 AM PDT

Forex Pros – pros – The British Pound was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending.<br/><br/> GBP/USD was trading at 1.5964, up 0.04% at time of writing.<br/><br/> The pair was likely to find support at 1.5914, today&rsquo;s low, and resistance at 1.6262, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Mixed At Close; Dax Down 0.19%

Posted: 27 Jun 2011 09:55 AM PDT

Forex Pros – pros – European stocks were mixed after the closing bell on Monday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.19%, London&rsquo;s FTSE 100 gained 0.43%, France&rsquo;s CAC 40 climbed 0.31% and the EURO STOXX 50 was up 0.30%.<br/><br/> Earlier in the day, official data showed that U.S. personal spending remained unchanged unexpectedly at a seasonally adjusted 0.0% last month from 0.3% in the preceding month whose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chinese Local Government Debt Touches $1.6 Trillion

Posted: 27 Jun 2011 04:00 AM PDT

06/27/11 According to the national audit agency, China’s local governments have piled up debts of $1.6 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chinese Local Government Debt Touches $1.6 Trillion

Posted: 27 Jun 2011 09:00 AM PDT

06/27/11 According to the national audit agency, China’s local governments have piled up debts of $1.6 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Immunodiagnostic Systems Sees Profits Surge And Secures FDA Clearance For New Automated Assays

Posted: 27 Jun 2011 03:14 AM PDT

Immunodiagnostic Systems (LON:IDH), the company that makes diagnostic testing kits for the clinical and research markets, has received clearance from the US Food and Drug Administration (FDA) for two new automated assays to be sold in the US. The new product additions complement IDS's existing automated products offered on its IDS-iSYS system in the US, which is the company's fastest growing market. The news comes as IDS reported a 35 percent rise in sales to £50.2 million in the 12 months … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Playing Cat And Mouse With Global Oil

Posted: 26 Jun 2011 10:00 PM PDT

Oil markets took another dose of global geopolitics this week when the International Energy Agency (IEA) unexpectedly announced that it would be releasing 60 million barrels of oil from strategic petroleum reserves (SPR) around the globe. Thursday's surprise announcement gave oil prices a 4.5 percent hair cut and oil prices closed Friday at $91.25, down 20 percent from their April 29 peak.
The IEA, a Paris-based agency comprised of developed countries around the world, said the release would … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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