Wednesday, June 8, 2011

DailyMarkets.com - Mitsubishi UFJ To Boost CIMB Ties

DailyMarkets.com - Mitsubishi UFJ To Boost CIMB Ties


Mitsubishi UFJ To Boost CIMB Ties

Posted: 08 Jun 2011 10:35 AM PDT

Japan's Mitsubishi UFJ Financial Group (NYSE:MTU), is planning to strengthen its investment banking business by expanding its partnership with CIMB Group of Malaysia.
Mitsubishi UFJ's decision to expand its ties with CIMB, a company with which the former already has a commercial banking partnership, comes on the heels of its decision to sell its stake in Kim Eng Holdings, the Singapore-based brokerage firm, to Maybank for about 34 billion yen ($424 million).
The group, through Bank of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Pay To Access Says News Corp.

Posted: 08 Jun 2011 10:35 AM PDT

Come October, we will have to shell out for accessing premium online content or articles available on The Australian website, the flagship newspaper of News Corporation (NWSA), Associated Press reported.
However, to give some respite, breaking news and other general stories will be available without any charges. The Australian will adopt The Wall Street Journal's pay model, and will cost A$2.95 per week (or approximately $3.16).
Wall Street Journal has been charging readers for online … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Statoil In Long-Term Supply Deal

Posted: 08 Jun 2011 10:35 AM PDT

Norwegian energy giant Statoil ASA (NYSE:STO) has entered into a gas supply agreement with Scottish and Southern Energy ("SSE").
Under the terms of the deal, Statoil will provide 500 million cubic meters of natural gas annually, for 10 years, to SSE’s Peterhead gas power plant in Scotland. Deliveries are slated to begin in the final quarter of 2012.
The Aberdeenshire-based power unit generally consumes 1.5 billion cubic meters of gas every year, producing enough to fulfill the electricity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NCI Building Reports Loss, Beats

Posted: 08 Jun 2011 10:35 AM PDT

NCI Building Systems Inc.'s (NYSE:NCS) adjusted loss for the second quarter of fiscal 2011 was 48 cents compared with the year-ago loss of 86 cents per share. The reported loss was an improvement from the Zacks Consensus Estimate of a loss of 81 cents.
The loss per share excluded a non-cash conversion charge and other special charges. Including these charges, reported loss per share was 51 cents versus $14.15 during the corresponding period of 2010.
The company's sales were $225.6 million, up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


National Bank Of Poland Raises Policy Rate 25bps To 4.50%

Posted: 08 Jun 2011 10:14 AM PDT

The Narodowy Bank Polski’s Monetary Policy Council raised its benchmark 7-day interest rate by 25 basis points to 4.50% from 4.25% previously.  Folllowing the announcement the bank Governor, Marek Belka, said: ”We plan to wait before making any more policy moves,”…”After four rate increases, it seems the time has come to see what effect they have on the Polish economy.” 

The Bank also increased the following rates by 25 basis points: the rediscount rate to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


JPMorgan To Create Jobs In Ohio

Posted: 08 Jun 2011 10:02 AM PDT

On Wednesday, JPMorgan Chase & Co. (NYSE:JPM) announced that it is planning to add nearly 1,000 mortgage servicing jobs in Central Ohio.
JPMorgan stated that the new employees would be added to the existing mortgage servicing staff at Easton, after its new office space at Gahanna is revamped later this year. According to the company, the additional workforce would help the distressed homeowners.
At present, JPMorgan has about 17,000 employees in the Ohio region, the largest for any private … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Arotech Continues Order Momentum

Posted: 08 Jun 2011 10:00 AM PDT

Ken Nagy, CFA
Arotech Continues Order Momentum

Arotech Corporation (ARTX) is a defense and security products and services company, engaged in three business areas: interactive simulation for military, law enforcement and commercial markets; batteries and charging systems for the military; and high-level armoring for military and nonmilitary air and ground vehicles. ARTX has a very strong diversified revenue stream which cuts across both foreign and domestic military, municipalities, and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


HSBC To Settle Madoff Lawsuit

Posted: 08 Jun 2011 10:00 AM PDT

HSBC Holdings Plc (NYSE:HBC) has agreed to settle a law suit filed against the company by the investors of Ireland-based Thema International Fund that had invested in Bernard L. Madoff Securities.
In the settlement agreement announced on Tuesday, HSBC stated that it would pay $62.5 million to the Thema investors for class-action claims brought against the company on the grounds of its failure to spot fraudulence in Mr. Madoff's Ponzi scheme.
The plaintiffs had accused HSBC of its failure to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Railroads Facing Lawsuit

Posted: 08 Jun 2011 10:00 AM PDT

Yesterday, in a major development, which may have a far reaching consequence, the Oxbow Carbon & Minerals LLC sued two major U.S. freight railroads, Union Pacific Corp. (NYSE:UNP) and Burlington Northern Santa Fe Corp. (BNSF). Privately heldOxbow, which mines and markets coal and natural gas, filed a lawsuit in the U.S. District Court for the District of Columbia, accusing the two large railroad operators for monopolization and price fixing to illegally increase freight rates of shipping coal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


FirstEnergy Brings ATSI To PJM

Posted: 08 Jun 2011 10:00 AM PDT

FirstEnergy Corp. (NYSE:FE) announced the integration of its electric transmission subsidiary, American Transmission Systems Inc. (ATSI), into the PJM Interconnection, the largest competitive electricity marketplace in the world.
With this integration, PJM will assume operational control of the transmission system and will administer competitive wholesale electricity markets in those areas. The PJM Interconnection serves over 58 million customers in 13 states and the District of Columbia.
The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


URS Wins Contract

Posted: 08 Jun 2011 10:00 AM PDT

URS Corporation (NYSE:URS) will be helping the Defense Threat Reduction Agency in its Cooperative Threat Reduction Program as it received an indefinite delivery/indefinite quantity contract from the Department of Defense. The motive of the program is to encourage efforts between the United States and other countries to protect and eradicate weapons of mass destruction.
Base term for this multiple award contract is five year, with an option to be extended by one year. There are four awardees, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down In U.S. Trade

Posted: 08 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 1.6404, down 0.25% at time of writing.<br/><br/> The pair was likely to find support at 1.6287, Friday&rsquo;s low, and resistance at 1.6473, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.36% to hit 0.8902 and GBP/JPY falling 0.53% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Markets Close Lower; Dax Down 0.61%

Posted: 08 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 0.61%, London&rsquo;s FTSE 100 shed 0.95%, France&rsquo;s CAC 40 declined 0.88% and the EURO STOXX 50 was down 0.81%.<br/><br/> Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was up 0.03%; the S&P 500 index shed 0.06%, while the Nasdaq 100 index declined … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AUD/USD Bounces Off Range Support

Posted: 08 Jun 2011 09:53 AM PDT

Aussie Dips After RBA Holds OCR at 4.75% (6/7)
AUD/USD

- The AUD/USD pair respected the support area near 1.0590. This comes after a decline that followed the RBA announcement during the 2nd Asian session this week.
- This decline now is in correction after the support held, but the RSI in the 1H chart reveals a bearish bias in the short to short term, although the immediate reaction to the oversold condition is a rally.
- If the market breaks back above 1.67, we are more likely stuck in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


HP Secures Air Force Deal

Posted: 08 Jun 2011 09:35 AM PDT

The world's largest manufacturer and exporter of personal computers, Hewlett Packard Company (NYSE:HPQ) has recently secured apurchase agreement from the U.S. Air Force (USAF).
As part of the blanket purchase agreement issued by USAF Information Technology Commodity Council Semi-Annual Enterprise, the government department will buy Digital Printing and Imaging capabilities, which will be utilized by the USAF for the procurement of IT products and services. As per the deal, HP will provide a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Montpelier Re Upped To Neutral

Posted: 08 Jun 2011 09:35 AM PDT

We are upgrading our recommendation on Montpelier Re Holdings (NYSE:MRH) to Neutral as it continues to benefit from its transition from a Bermuda "monoline" property catastrophe reinsurer to a diversified global reinsurer, positive ratings from the credit rating agency as well as share buybacks.
Montpelier has expanded its underwriting reach beyond Bermuda. It has transformed from a Bermuda "monoline" property catastrophe reinsurer to a global diversified catastrophe specialist and has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Lululemon

Posted: 08 Jun 2011 09:35 AM PDT

Lululemon Athletica Inc. (NASDAQ:LULU), the leading athletic apparel and accessories retailer in Canada, the United States and Australia, is scheduled to report its first-quarter 2011 financial results before the opening bell on June 10, 2011.
The current Zacks Consensus Estimates for the quarter is earnings of 38 cents a share. For the quarter under review, revenue is expected at $180.0 million, according to the Zacks Consensus Estimate.
Fourth-Quarter 2010, Summary
Lululemon experienced one of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Cosan Posts Encouraging 4Q Results

Posted: 08 Jun 2011 09:35 AM PDT

Cosan Limited (NYSE:CZZ) posted encouraging results for the fourth quarter 2011, registering year- over-year increases in revenue and net income. Net income in the quarter was R$480.9 million, up 63.6% year over year. For the fiscal year 2011, net income plummeted 26.8% year over year to R$771.6 million.
Revenue
Considering the top line, net revenue (excluding eliminations) in the quarter totaled R$4,609.3 million (US$2,776.7 million), up 4.9% year over year and above the Zacks Consensus Estimate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Yield Rally Gathers Steam After Downbeat Bernanke

Posted: 08 Jun 2011 09:22 AM PDT

Benchmark bond yields continue to push lower in North America winding up for a challenge once more on the lowest in seven months. In Europe the story is a little different ahead of Thursday's ECB meeting at which speculation has mounted that the central bank will preannounce a July monetary tightening. A downbeat assessment from a trio of Fed members served up a despondent reminder of the dire image that central bankers have of the state of the economy. Later on Wednesday the Beige Book will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


WPP Strengthens Digital Arm

Posted: 08 Jun 2011 09:15 AM PDT

Advertising titan, WPP plc's (NASDAQ:WPPGY) wholly-owned subsidiary, Possible Worldwide recently announced the acquisition of a 70% stake in Gringo Publicidade Ltda. Financial terms of the transaction were not disclosed.
Gringo is a leading digital agency in Brazil and was founded in 2006 in Sao Paulo. It employs 65 people. The agency generated roughly R$10.4 million revenues for the year ended December 31, 2010. Gross assets for the same period were R$3 million.
Possible Worldwide is a global … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


CIGNA Upgraded To Outperform

Posted: 08 Jun 2011 09:05 AM PDT

We are upgrading our recommendation on the shares of CIGNA Corp. (NYSE:CI) to Outperform from Neutral following an upward revision in its guidance post first quarter results.
Philadelphia-based CIGNA's first quarter consolidated revenues grew to $5.4 billion marking an 8% hike over the first quarter of 2010, after excluding the impact of its planned exit from the individual Medicare Private Fee-for-Service business. The upside reflects solid growth in each of CIGNA'a targeted market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down At The End Of European Session

Posted: 08 Jun 2011 09:00 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4587, down 0.71% at time of writing.<br/><br/> The pair was likely to find support at 1.4452, Friday&rsquo;s low, and resistance at 1.4696, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.31% to hit 0.8906 and EUR/JPY falling 0.97% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Down Toward The End Of European Session

Posted: 08 Jun 2011 08:40 AM PDT

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Wednesday.<br/><br/> USD/JPY was trading at 79.88, down 0.26% at time of writing.<br/><br/> The pair was likely to find support at 79.70, today&rsquo;s low, and resistance at 80.89, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.79% to hit 1.4575 and GBP/USD falling 0.46% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


New Credit Facility For Advance Auto

Posted: 08 Jun 2011 08:35 AM PDT

Advance Auto Parts Inc. (NYSE:AAP) announced its new $750 million unsecured revolving credit facility that will mature in May 2016 replacing the already existing $750 million revolver, which will mature in October 2011.
The new credit facility will strengthen Advance Auto's balance sheet thereby, providing the wherewithal to support its growth plans. The interest rate on borrowings under the facility will be based on an adjusted LIBOR rate plus a margin based on the company’s credit ratings.
At … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Leap Extends Product Portfolio

Posted: 08 Jun 2011 08:30 AM PDT

Leap Wireless International Inc(NASDAQ:LEAP), which provides digital wireless communication services in the U.S, under the "Cricket" brand primarily through its wholly-owned subsidiary Cricket Communications Inc. recently unveiled “Indulge”, the first Android-based 3G smartphone from Samsung Telecommunications.

The new Samsung Indulge is priced at $329.99 (exclusive of tax) along with a $55 Android plan and will be available at Cricket's stores as well as other company dealers. The new … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Ulta Salon Tops On Strong Traffic

Posted: 08 Jun 2011 08:30 AM PDT

Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ:ULTA) posted first quarter 2011 earnings of 37 cents per share, which surpassed the Zacks Consensus Estimate of 31 cents. Quarterly earnings shot up 60.9% from the year-ago quarter earnings of 23 cents per share and also beat management's guided range of 29 cents to 31 cents.
The better-than-expected results were due to double-digit growth in the top line resulting from robust guest count.
Quarter Highlight
Net sales in the quarter increased 20.6% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down Toward The End Of European Session

Posted: 08 Jun 2011 08:25 AM PDT

Forex Pros – The British Pound was lower against the U.S. Dollar on Wednesday.<br/><br/> GBP/USD was trading at 1.6379, down 0.40% at time of writing.<br/><br/> The pair was likely to find support at 1.6287, Friday&rsquo;s low, and resistance at 1.6473, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.31% to hit 0.8906 and GBP/JPY falling 0.68% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Breaks Lower….

Posted: 08 Jun 2011 08:17 AM PDT

The EURUSD has moved below the 100 hour MA and trendline support (at 1.4593 currently). Staying below this level now is the risk. ON the downside, the support at the 1.4553 (38.2% of the last major move higher – see chart above). The low from Monday came in at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Canadian Dollar: Caution

Posted: 08 Jun 2011 08:16 AM PDT

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


Australian Dollar: The Downside Prevails

Posted: 08 Jun 2011 08:16 AM PDT

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


Word From The Floor: US Stocks Down After Bernanke’s Speech

Posted: 08 Jun 2011 08:15 AM PDT

06/08/11 Wall Street opened lower following Fed Chairman Ben Bernanke’s comments. Crude oil topped $100/bbl after OPEC failed to reach a consensus on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Novartis Presents INC424 Data

Posted: 08 Jun 2011 08:05 AM PDT

Novartis (NYSE:NVS) and Incyte Corporation (NASDAQ:INCY) recently presented positive data from two late stage trials (COMFORT-I and COMFORT II) of their pipeline candidate, INC424 (ruxolitinib) for the treatment of myelofibrosis (MF), a life threatening blood cancer. The data were presented at the American Society of Clinical Oncology (ASCO) annual meeting.
Incyte has the rights to develop and commercialize INC424 in the US. Novartis has licensed rights from Incyte for development and potential … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Leap Extends Product Portfolio

Posted: 08 Jun 2011 08:05 AM PDT

Leap Wireless International Inc(NASDAQ:LEAP), which provides digital wireless communication services in the U.S, under the "Cricket" brand primarily through its wholly-owned subsidiary Cricket Communications Inc. recently unveiled “Indulge”, the first Android-based 3G smartphone from Samsung Telecommunications.

The new Samsung Indulge is priced at $329.99 (exclusive of tax) along with a $55 Android plan and will be available at Cricket's stores as well as other company dealers. The new … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down During The European Session

Posted: 08 Jun 2011 08:00 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4607, down 0.57% at time of writing.<br/><br/> The pair was likely to find support at 1.4452, Friday&rsquo;s low, and resistance at 1.4696, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.13% to hit 0.8922 and EUR/JPY falling 0.82% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Worried Fed Fans Rising Growth Fears

Posted: 08 Jun 2011 07:58 AM PDT

A volley of Fed presidents sounded awfully cautious about the economy. Chief Bernanke sounded like a rich parent chiding a badly-behaved adolescent schoolboy as he described the economy at an address late on Tuesday. His acknowledgement of the problem to the school board was accompanied by a second-half "will do better" pledge. But hopes for a recovery delicately predicated upon a post-tsunami supply-chain rebound shackled to some meager slippage in gasoline prices seem woefully … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Is Testing Channel Support

Posted: 08 Jun 2011 07:56 AM PDT

Gold (XAU/USD)

Short-term
- Gold's bullish trend is intact although the rally has been flattening. It is now the 3rd gold is testing the channel support seen in the 4H chart.
- The RSI is still above 40, maintaining the bullish momentum.
- The decline has retraced almost 78.6% of the most recent upswing before we saw a doji. If the market breaks below the channel support, we are looking for a test of the 1519.40 pivot, near the 200SMA. A break of that suggests a correction in gold, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Manpower Complements China’s Revamp

Posted: 08 Jun 2011 07:50 AM PDT

In an attempt to penetrate deeper and solidify its operational roots in China, Manpower Inc. (NYSE:MAN), one of the leading employment services provider, recently announced the acquisition of Xi’an Fesco, a leading human capital contributor having 10,000 associates in Shaanxi Province.
The buyout was in line with the company's farsighted strategy of nurturing and supporting China’s industrial employees, thus helping in revamping its industrial zones and stretching its business into new domestic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD On A Bumpy Ride As News Releases Increase Anxiety/fear

Posted: 08 Jun 2011 07:48 AM PDT

This morning there were no major economic releases in the US. However, there has been a number of news releases that have increased risk, anxiety, fear and volatility for the EURUSD.
For one, there were first reports of an OPEC agreement but that was shortly reversed with comments of a breakdown from OPEC.  Next, there were comments that there were major obstacles with regard to a Greece accord. This was shortly followed by comments that Fitch would downgrade the US debt rating if the debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Existing-Home Prices Might Be Falling, But Used Vehicle Prices Are Soaring To Record Highs

Posted: 08 Jun 2011 07:41 AM PDT

Existing-home prices may be falling, but used car prices reached an all-time high in May, according to a new report from Manheim Consulting (see chart above).  Manheim’s Used Vehicle Value Index of 127.8 in May was 5.6% above its year-ago level of 121.  In eight out of the last nine months since last September, the Used Vehicle Index set new a new monthly record.

In this WSJ video,”Time to Trade In That Used Car?” four reasons are given for record-high used vehicle prices:

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


Forex – GBP/JPY Down In European Trading Hours

Posted: 08 Jun 2011 07:40 AM PDT

Forex Pros – The British Pound was lower against the Japanese Yen on Wednesday.<br/><br/> GBP/JPY was trading at 130.82, down 0.69% at time of writing.<br/><br/> The pair was likely to find support at 130.50, today&rsquo;s low, and resistance at 132.44, Friday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.39% to hit 1.6381 and EUR/GBP falling 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Mixed 2Q Results For ABM

Posted: 08 Jun 2011 07:35 AM PDT

ABM Industries Inc. (NYSE:ABM) reported second quarter of fiscal 2011 results, delivering a GAAP EPS of 26 cents compared with 16 cents in the year-ago quarter. The quarter noted some special items, which negatively affected earnings per share to the extent of 2 cents. Excluding these items, adjusted EPS in the reported quarter amounted to 28 cents versus 23 cents in the year-earlier quarter, surpassing the Zacks Consensus Estimate by a penny.
The earnings increased mainly due to a $4.7 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Remains Near $99

Posted: 08 Jun 2011 07:30 AM PDT

06/08/11 Front month crude prices remained trading near $99, slightly lower, after Bernanke’s bearish comments on the US economy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


OPEC Meeting Fails To Strike Deal, Oil Prices Jump Helping CAD

Posted: 08 Jun 2011 07:20 AM PDT

The Organization of Petroleum Exporting Countries, Opec, failed to strike a deal to raise production following what is being discribed as a highly charged meeting.
Going into the meeting, expectations were that Saudi Arabia would push for an increase in the production instead of simply raising its targets to formalize current levels of production. It failed to convince other members to lift production.
There is growing fear of supply shortages later this year and that higher prices could … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NZD/USD Maintains Corrective Structure Ahead Of The RBNZ Meeting

Posted: 08 Jun 2011 07:14 AM PDT

The Recent Structure of the NZD/USD Suggests Further Correction (6/5)
NZD/USD

Short-term to Medium-term- The NZD/USD was starting an impulse wave down to end last week. This week, we start with an abc correction back to 78.6% retracement. However, as we anticipated, there was further correction. An event risk lies ahead today at 5:000PM EDT. The Reserve Bank of New Zealand is expected to hold rates at 2.50%.
- If the abc rally was wave B, we should be in a wave C correction decline now. This … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Watson To Market Generic Lybrel

Posted: 08 Jun 2011 07:05 AM PDT

Watson Pharmaceuticals Inc. (NYSE:WPI) recently announced that the US Food and Drug Administration (FDA) approved the company's generic version of Pfizer Inc.'s (NYSE:PFE) oral contraceptive Lybrel. Watson Pharma plans to launch the generic drug, levonorgestrel and ethinyl estradiol tablets, USP, 0.09 mg/0.02 mg, in the near future.
According to IMS health, Lybrel sales amounted to $12 million for the twelve months ended April 30, 2011.
Last week, Watson Pharma announced the filing of an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Comcast Wins TV Rights For Olympics

Posted: 08 Jun 2011 06:55 AM PDT

Yesterday, Comcast Corp. (NASDAQ:CMCSA) received a shot on the arm. NBC Universal, which is controlled by Comcast, has won the U.S. telecast right for the 2014 and 2018 winter games and the 2016 and 2020 summer games. The International Olympic Committee conducted an auction for these four game events. NBC Universal outbids its cossets rivals such as ABC and ESPN networks controlled by Walt Disney Co. (NYSE:DIS) and Fox network controlled by News Corp. (NWSA)
NBC Universal will pay a total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Prudential Resumes Share Buyback

Posted: 08 Jun 2011 06:55 AM PDT

Yesterday, the second largest U.S life insurer Prudential Financial Inc. (PRU) announced the resumption of its share repurchase program, with an authorization to buyback up to $1.5 billion of its outstanding common stock through June 30, 2012.
Prior to this, in November 2007, Prudential had authorized to repurchase up to $3.5 billion of its outstanding common stock in calendar year 2008. During that year, the company had acquired 29.3 million shares of its outstanding common stock for a total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – NZD/USD Down During The European Session

Posted: 08 Jun 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.<br/><br/> NZD/USD was trading at 0.8164, down 0.51% at time of writing.<br/><br/> The pair was likely to find support at 0.8074, Friday&rsquo;s low, and resistance at 0.8232, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and down against the Euro, with AUD/NZD shedding 0.36% to hit 1.3016 and EUR/NZD rising … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NOC Wins Joint Mission Contract

Posted: 08 Jun 2011 06:35 AM PDT

Northrop Grumman Corporation (NYSE:NOC) has received a $19 million contract to enhance and maintain the Joint Mission Planning System (''JMPS'') Framework from the U.S. Air Force. The delivery order was awarded under the Mission Planning Enterprise Contract (''MPEC'') II from the Electronic Systems Center, Hanscom Air Force Base, Massachusetts.
The JMPS Framework comprises the core elements and functions of the JMPS family and helps to automate planning for sensor, weapon or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: Citigroup, G-III Apparel Group, LTD., International Paper Company, Iron Mountain Incorporated, ManTech International, Mitcham Industries, Morgan Stanley, Pep Boys-Manny, Moe & Jack, Sunoco, Skyworks Solutions, Temple-Inland, TotalFinaElf, S.A.

Posted: 08 Jun 2011 06:35 AM PDT

    International Paper Company (NYSE:IP) offered to buy Temple-Inland (NYSE:TIN) in a deal worth $3.38 billion. Reacting to this development, share prices of Temple-Inland rose 40.36% to close at $29.49

    Share prices of Skyworks Solutions, Inc. (NASDAQ:SWKS) increased 7.74% after the chipmaker reaffirmed its guidance

    Clothing maker G-III Apparel Group, Ltd. (NASDAQ:GIII) reported its first quarter earnings results. The company posted losses against … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Down In European Trade

Posted: 08 Jun 2011 06:25 AM PDT

Forex Pros – The Euro was lower against the Swiss Franc on Wednesday.<br/><br/> EUR/CHF was trading at 1.2230, down 0.44% at time of writing.<br/><br/> The pair was likely to find support at 1.2108, Friday&rsquo;s low, and resistance at 1.2313, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.44% to hit 1.4626 and EUR/JPY falling 0.71% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Morning Market Brief

Posted: 08 Jun 2011 01:20 AM PDT

06/08/11 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


Strategic Minerals Joins AIM With Plans To Explore Iron Ore Project In Australia

Posted: 08 Jun 2011 01:19 AM PDT

Strategic Minerals (LON:SML) has become the latest recruit to the Alternative Investment Market's army of mining exploration companies, with an IPO that has netted it £750,000. Strategic is an iron ore exploration company with assets in Queensland, Australia, where it believes that a new iron production hub can be rapidly developed to serve steel markets in Asia.

Strategic holds an exploration permit over 2,100 hectares at its flagship project, known as the "Tenement", which lies … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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