Thursday, June 30, 2011

DailyMarkets.com - Gap Coming To Egypt, Morocco

DailyMarkets.com - Gap Coming To Egypt, Morocco

Gap Coming To Egypt, Morocco

Posted: 30 Jun 2011 10:00 AM PDT

The Gap Inc. (NYSE:GPS), as part of its expansion project in the $1.4 trillion global apparel market, has taken a maiden step to bring its brand to Africa. The company is expected to unveil the latest trend in Egypt and Morocco in July and October, respectively.
The company has plans to open a Gap store in Egypt while The Gap and Banana Republic stores in Morocco. Only last year, The Gap had taken an initiative to sell its products in Egypt, Morocco and South Africa via its international online … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Raytheon’s Excalibur Ib Nearer

Posted: 30 Jun 2011 10:00 AM PDT

Raytheon Company (NYSE:RTN) has received a $36.0 million contract from the U.S. Army for the final phase of the Excalibur Ib development program. With this final phase, the program will complete its warfighter tests and Excalibur Ib will also qualify for fielding.
The Excalibur Ib is a long-range, precision-guided artillery projectile based on Raytheon’s combat-proven Excalibur Ia. It has a non-spinning fixed base, and requires simpler manufacturing than Excalibur Ia that increases reliability and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Claims Fall Slightly

Posted: 30 Jun 2011 10:00 AM PDT

Initial Claims for Unemployment Insurance fell by 1,000 last week to 428,000. This was worse than the expected level of 420,000. Last week's numbers were unrevised. The trend in initial claims had downward, although there were some bumps along the way. Recently they seem stuck once again in a trading range above the 400,000 level. That is a very worrisome trend.

This is the 12th straight week we have been above the 400,000 level. Being below it, as we were, probably signaled the start of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CIGNA Cuts Lobbying Costs

Posted: 30 Jun 2011 10:00 AM PDT

Philadelphia-based managed care company CIGNA Corp.(NYSE:CI) has reportedly spent $280,000 on lobbying the Federal Government during the first quarter of 2011. However, lobbying expenses in the reported quarter marked a decline of 30% from the previous-year quarter and 18% from the previous quarter.
Lobbying is an activity usually paid by an interest group to promote its position to legislatures by influencing opinion leaders, thereby creating a climate for the change they desire.
CIGNA,  the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aflac Prices Notes

Posted: 30 Jun 2011 09:35 AM PDT

Aflac Incorporated (NYSE:AFL) has priced its yen-denominated (Samurai) bonds aggregating $625 million (¥50 billion) – $359 million (¥28.7 billion) of 1.47% three year notes, $197 million (¥15.8 billion) of 1.84% five year notes and $69million (¥5.5 billion) of three-month Japanese yen Libor plus 1.15% three year notes.
The company intends to utilize the proceeds to pay down debt and for general corporate purposes. Alfac sated that the issuance will help to repay ¥35 billion of Uridashi … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wynn Resorts Down To Neutral

Posted: 30 Jun 2011 09:35 AM PDT

We recently downgraded our rating on Wynn Resorts Limited (NASDAQ:WYNN) to Neutral from Outperform. The company, along with its subsidiaries, is a leading developer, owner and operator of destination casino resorts with properties in Las Vegas and Macau.
The company, based in Nevada, reported first quarter 2011 earnings above the Zacks Consensus Estimate buoyed by booming Macau operations and improved performance at Las Vegas. Given its strong brand name, we believe that Wynn Resorts is well … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aetna Takes Over Prodigy

Posted: 30 Jun 2011 09:35 AM PDT

Aetna Inc. (NYSE:AET) has recently revealed that it has completed the acquisition of Prodigy Health Group, which was announced back in April.
New York-based Prodigy sells self funded plans to employers that employ about 100-5000 individuals. The acquisition, valued at $600 million, will add Prodigy's self funded market to Aetna's domain.
Self-funded plans are the ones in which employers assumes the risk and pay the claims, and the job of the insurer is limited to administering the whole … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests Trendline Resistance On The Daily Chart

Posted: 30 Jun 2011 09:15 AM PDT

The EURUSD has had quite a week. On Monday the price tested and held trendline support and closed above the 100 day MA. On Tuesday, the price moved above trendline resistance and tested the 50% retracement of the June range. Wednesday saw the price hold above the underside of the trendline and move up to test the 61.8% of the months range. Finally, today the price has moved up to test the topside trendine resistance connecting the May and 2011 high to the June 2011 high.  That level comes … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Zalicus Initiates SYNERGY Trial

Posted: 30 Jun 2011 09:05 AM PDT

by Jason Napodano, CFA
Phase 2b SYNERGY Initiated
Zalicus (ZLCS) announced it has initiated a phase 2b clinical trial evaluating Synavive for the treatment of rheumatoid arthritis (RA). The trial, SYNERGY (SYNavivE for Reducing signs and sYmptoms of rheumatoid arthritis trial), is a 12-week, 5-arm, double-blind, placebo-controlled study to evaluate the safety and efficacy of Synavive as a treatment for the signs and symptoms of rheumatoid arthritis (RA) in approximately 250 subjects with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Standard FDA Review For Pfizer Drug

Posted: 30 Jun 2011 09:05 AM PDT

Pfizer Inc. (NYSE:PFE) recently announced that its regulatory application for oncology candidate, axitinib has been accepted for standard review by the US Food and Drug Administration (FDA). The company is seeking approval for the treatment of patients with advanced renal cell carcinoma (RCC).
The regulatory application was based on data from the phase III AXIS 1032 study which compared axitinib with Onyx Pharmaceuticals/Bayer's (BAYRY) Nexavar (sorafenib).
Earlier this month, the European … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yum! In Neutral Lane

Posted: 30 Jun 2011 09:05 AM PDT

We maintain our Neutral rating on Yum! Brands Inc. (NYSE:YUM). While we are optimistic on the company's lucrative China division and solid unit growth, negative impact from Taco Bell U.S. as well as commodity inflation compel us to remain on the sidelines.
We see the company's overseas expansion as one of its key growth drivers. Moreover, Yum! Brand's recognition, consistent performance and emerging market operations give it an edge over competitors.
The Chinese division of Yum! offers … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yum! In Neutral Lane

Posted: 30 Jun 2011 09:05 AM PDT

We maintain our Neutral rating on Yum! Brands Inc. (NYSE:YUM). While we are optimistic on the company's lucrative China division and solid unit growth, negative impact from Taco Bell U.S. as well as commodity inflation compel us to remain on the sidelines.
We see the company's overseas expansion as one of its key growth drivers. Moreover, Yum! Brand's recognition, consistent performance and emerging market operations give it an edge over competitors.
The Chinese division of Yum! offers … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: AUD/USD Bullish Surge Breaks Consolidation

Posted: 30 Jun 2011 09:02 AM PDT

AUD/USD (daily chart) as of Thursday (6/30/2011) has continued its upside momentum after yesterday's bullish breakout above a clear descending triangle consolidation pattern. This triangle breakout occurs within the context of a long-term, year-long bullish trend that extends back to the June 2010 lows. Now that price action has broken its converging consolidation, immediate upside resistance can be found around the 1.0775 price region. In the event of a further breakout above that level, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chicago Data Sparks Rout For Bonds

Posted: 30 Jun 2011 08:46 AM PDT

A healthy bond market rebound gathered pace on Thursday after four days of selling. The demand for the safety of government paper fell by the wayside somewhere outside of Athens after yesterday's successful parliamentary vote. Dealers attempted to drive yields lower following further dull news from the labor market in the world's largest economy before a surprise jump in a Chicago-area manufacturing index sent yields into reverse gear and to the highest in a month.
Eurodollar futures – A … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SABESP Downgraded To Underperform

Posted: 30 Jun 2011 08:35 AM PDT

We recently downgraded our recommendation on Companhia de Saneamento Basico do Estado de São Paulo, or SABESP (NYSE:SBS) from Neutral to Underperform. SABESP is a public water and sewage services provider in the State of Sao Paulo, Brazil.
The company is one of the largest players in the industry having distributed water to approximately 23.6 million people and provided sewage services to more than 20.2 million people as of fiscal year 2010.
Long-term prospects of SABESP seems bright as the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PX Starts Supplying Gases To Hua Li

Posted: 30 Jun 2011 08:35 AM PDT

Praxair (China) Investment Co. Ltd, the Chinese unit of Praxair Inc. (NYSE:PX) and a leading industrial gas supplier, started supplying industrial gases to Shanghai Hua Li Microelectronics Corporation. A long-term contract was signed by the two parties earlier in September, 2010.
Praxair China is currently supplying ultra-high-purity oxygen, nitrogen, argon, hydrogen and helium for Hua Li's 12-inch integrated-circuit chips production line. Situated in Shanghai's Zhangjiang High-Tech Park, Hua … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Textbook Triangle Trade Example In Crude Oil

Posted: 30 Jun 2011 08:22 AM PDT

When learning to trade certain patterns or trade set-ups, it's best to start with "ideal" real-world examples to understand the logic of the set-up.
Doing so allows us to recognize similar patterns or set-ups in real time as they develop, which calls us into trading action (entry, management, exit).
Crude Oil recently (June 28) gave us an intraday "Symmetrical Triangle" pattern breakout that was a textbook example of the formation, trigger, target, and outcome of a classic Symmetrical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower After Greece Austerity Plan Passes

Posted: 30 Jun 2011 08:04 AM PDT

Forex Pros – pros &ndash; The U.S. dollar remained broadly lower against its major counterparts on Thursday, while the euro regained ground after Greece&rsquo;s parliament voted in favor of an implementation law for a five-year austerity plan required by international lenders.<br /><br />During early U.S. trade, the greenback was lower against the euro, with EUR/USD rising 0.5% to hit 1.4509.<br /><br />Greece&rsquo;s parliament passed a vote on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Turn Positive After U.S. EIA Data

Posted: 30 Jun 2011 07:49 AM PDT

Forex Pros – pros &ndash; Natural gas futures erased losses on Thursday, retreating from a three-day low after the U.S. Energy Information Administration said natural gas inventories fell less-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for August delivery traded at USD4.362 per million British thermal units during U.S. morning trade, jumping 1.25%.&nbsp;&nbsp;&nbsp; <br /><br />It earlier rose as much … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

North Dakota’s Booming Oil Economy

Posted: 30 Jun 2011 07:30 AM PDT

If there’s any doubt that domestic drilling of oil and gas generate huge and significant positive economic benefits (more jobs, income, output, tax revenues, etc.), the booming economy in North Dakota provides a convincing case study.  The Peace Garden State’s economy is doing so well on so many different measures, here are some highlights of its ongoing economic success:  

1. Monthly oil production dipped slightly in April, but is above its year-ago level 23% and above the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Trims Losses After Second Greek Vote Passes

Posted: 30 Jun 2011 07:30 AM PDT

Forex Pros – pros – The pound trimmed losses against the U.S. dollar on Thursday, after Greece&rsquo;s parliament voted to accept a second austerity law, removing a final hurdle to receiving the next tranche of aid from international lenders.<br /><br />GBP/USD pulled back from 1.5974, the daily low, to hit 1.6022 during early U.S. trade, still down 0.24% on the day.<br /><br />Cable was likely to find support at 1.5910, Tuesday&rsquo;s low and a five-month low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/CHF And USD/CHF Experience “Melt-Up” As Greek Concerns Recede

Posted: 30 Jun 2011 07:27 AM PDT

Out of the major currencies, the Swiss Franc has the most to lose in any resolution of the Greek sovereign debt problem, even one that is a short term one, that kicks the can down the road to September. It was reported earlier today that German banks would participate in a voluntary roll over of Greek debt, joining French banks.
With the vote for austerity measures out of the way yesterday and expectations that a vote today on implementation will also pass, we have seen safe havens sliding, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Extend Losses After Second Greek Vote Passes

Posted: 30 Jun 2011 07:27 AM PDT

Forex Pros – pros &ndash; Gold futures extended losses on Thursday, dropping to a fresh daily low after Greek Prime Minister George Papandreou won a parliamentary majority in favor of an implementation law for a five-year austerity plan.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,503.75 a troy ounce during U.S. morning trade, slumping … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Close To 3-week High After Second Greece Vote

Posted: 30 Jun 2011 07:23 AM PDT

Forex Pros – pros &ndash; The euro was trading close to a three-week high against the U.S. dollar on Thursday, after Greece&rsquo;s parliament passed a second austerity law, removing the last obstacle to receiving the next tranche of aid from international lenders.<br /><br />EUR/USD hit 1.4522 during early U.S. trade, the pair&rsquo;s highest since June 10; the pair subsequently consolidated at 1.4481, gaining 0.31%.<br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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