Monday, June 6, 2011

DailyMarkets.com - New Data On Medivation’s MDV3100

DailyMarkets.com - New Data On Medivation’s MDV3100

New Data On Medivation’s MDV3100

Posted: 06 Jun 2011 10:01 AM PDT

Medivation, Inc. (NASDAQ:MDVN) and Astellas Pharma Inc. recently presented preliminary data on their prostate cancer candidate, MDV3100, from an ongoing study. Preliminary results from the study, which is being conducted with patients suffering from advanced prostate cancer, confirmed the anti-tumor effects and tolerability profile of MDV3100 as seen in earlier phase I/II studies. The 160 mg daily dose of MDV3100 is being evaluated.
The study is being conducted with 58 heavily pre-treated advanced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Still The Estimates Rise

Posted: 06 Jun 2011 10:01 AM PDT

The first quarter earnings season is almost done. We now have 496 (99.0%) of the S&P 500 reports in. Net income growth is 17.12%. While that is down from the extremely strong 30.9% that 495 of those firms posted in the fourth quarter, it is still a very strong growth rate. Almost all of the growth slowdown is from a failure of the Financial sector to repeat the massive growth they posted in the fourth quarter.

It's not that the Financials are having a bad quarter, but they do face much … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Minimal Rise In Rite Aid Comps

Posted: 06 Jun 2011 09:55 AM PDT

Leading drugstore chain operator Rite Aid Corporation (NYSE:RAD) reported a marginal increase of 1.3% in same-store sales for the five weeks ended May 28, 2011. Results improved somewhat from a growth of 0.5% in April 2011.
For the month of May, front-end same-store sales increased 1.8%. Pharmacy same-store sales in the month improved 1.0% despite a 129 basis point headwind from new generic introductions. Prescriptions count increased 0.1% at comparable stores.
Total drugstore sales increased 1.0% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Spain Hurting Telefonica

Posted: 06 Jun 2011 09:55 AM PDT

Spanish telecom giant Telefonica (NYSE:TEF) is suffering a continuous decline in its domestic market share due to a sluggish economy. The customers are switching to cheaper offers from smaller rivals, leading to lower revenues and earnings for the company.
Spanish operations were weak again in April following lackluster performances in the first quarter of 2011. In the first quarter, net income was hit by an uninspiring domestic market, both in the wireline and wireless businesses.
It is worth … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Masimo’s New Ear-Based Sensor

Posted: 06 Jun 2011 09:35 AM PDT

Masimo Corporation (NASDAQ:MASI) recently announced the FDA 510 (k) and European CE Mark approvals as well as partial commercialization of its innovative, single-patient-use ear sensor. The Masimo E1 permits earlier detection of changes in oxygen saturation during low perfusion due to a number of clinical factors, including vasoconstriction arising from medication.
The E1 not only circumvents cross-contamination risks for users but also cuts down on the complications of sensor management for medical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Omnicell Stays Neutral

Posted: 06 Jun 2011 09:05 AM PDT

We recently reiterated our Neutral recommendation on Omnicell (NASDAQ:OMCL) with a target price of $15.00.
Omnicell reported an adjusted EPS of 3 cents in the first quarter of fiscal 2011, in line with both the Zacks Consensus Estimate and the prior-year quarter..
Total revenue for the first quarter was $57.2 million, up 5.5% year over year but below the Zacks Consensus Estimate of $58.0 million. Product revenue, contributing 74.5% of Omnicell's total revenue, remained almost unchanged at $42.6 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

May Sky Traffic Up At Delta

Posted: 06 Jun 2011 09:05 AM PDT

Delta Air Lines Inc. (NYSE:DAL), the second largest U.S. airline, reported a 2.2% year-over-year traffic increase in May fueled by both the domestic and international markets. Airline traffic is customarily measured in billions of revenue passenger miles.
On a year-over-year basis, consolidated capacity (or available seat miles) grew 2.2% while the load factor (percentage of seats filled by passengers) was flat at 83.9%. The increase in traffic was a function of higher demand despite headwinds … [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: 06 Jun 2011 09:00 AM PDT

Forex Pros – The Euro was lower against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4618, down 0.12% at time of writing.<br/><br/> The pair was likely to find support at 1.4308, Wednesday&rsquo;s low, and resistance at 1.4658, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.29% to hit 0.8936 and EUR/JPY falling 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NY Fed Model: 1-in-167 Chance Of 2012 Double-Dip

Posted: 06 Jun 2011 08:51 AM PDT

The New York Federal Reserve recently updated its “Probability of U.S. Recession Predicted by Treasury Spread” with treasury yield data through May 2011, and the Fed’s recession probability forecast through May 2012. The NY Fed’s Treasury model uses the spread between the yields on 10-year Treasury notes (3.17% in December) and 3-month Treasury bills (0.04%) to calculate the probability of a U.S. recession up to twelve months ahead (see details here).

The Fed’s model (data here) shows that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Talisman Expects Bids Till June

Posted: 06 Jun 2011 08:35 AM PDT

Independent energy firm Talisman Energy (NYSE:TLM) announced that in response to the interests from prospective buyers for a stake in one of its oil fields, the company seeks to entertain final bids till the end of June.
The bids will be held for a 25% stake in the Kitan oil block, located in Timor Sea that will likely come on line in the second half of 2011, with an initial rate of 40,000 barrels of crude per day. Additionally, the field also includes five oil discoveries having an estimated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Beyond Gas: Oil Is “Lifeblood” Of U.S. Economy

Posted: 06 Jun 2011 08:27 AM PDT

Less than 46% of each barrel of crude oil gets processed into “finished motor gasoline” according to the EIA. So what gets produced from the other 54% of each barrel of crude oil?  

You can find the details here, but the list includes aviation and jet fuel, kerosene, lubricants, waxes, asphalt, dyes, athletic shoes, crayons, car tires, cosmetics, and plastics that are used in appliances, toys, flooring, computers, desks, carpeting, automobiles and medical equipment (syringes, artificial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Marriott Remains Neutral

Posted: 06 Jun 2011 08:25 AM PDT

We are maintaining our long-term Neutral recommendation on Marriott International Inc. (NYSE:MAR), a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities.
Marriott's first quarter 2011 earnings missed the Zacks Consensus Estimate by a penny, reflecting lower demand in the larger North American hotel market. However, year-over-year results improved driven by global demand for lodging, translating into a higher average daily room rate.
Moreover, Marriott … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Research In Motion Remains Neutral

Posted: 06 Jun 2011 08:25 AM PDT

We are maintaining our cautious stance on Research In Motion Ltd. (NASDAQ:RIMM) given the company's mixed performance in the fourth quarter of 2011.  
Research In Motion declared mixed financial results for the fourth quarter of fiscal 2011. Although EPS beat the Zacks Consensus Estimate, revenues fell below the estimate. The company also provided a weak outlook for the ensuing first quarter of fiscal 2012.
Management was forced to provide a depleted outlook due to huge competitive pressure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Touches Support

Posted: 06 Jun 2011 08:16 AM PDT

Forex Trading: USDJPY Battle Between Short Term Bulls And Bears

Posted: 06 Jun 2011 08:06 AM PDT

The USDJPY has a bottom trendline that has failed on three separate occasions but found support on a number of different tests. The trendline currently comes in at the 80.01 level. A breach should lead to lower levels for the USDJPY.
Keeping the bearish bias is the ability to stay below topsider resistance.  The key levels I am eyeing above comes in at the 80.24 level.  A break of this level should tilt short term bias to the upside for a couple of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yields Struggle To Advance As Equities Soften

Posted: 06 Jun 2011 08:03 AM PDT

Treasuries are looking tired after repeatedly targeting fresh lows repeatedly for the year, while European debt markets appear to be also limping towards the finish line. Weakness in equity markets has so far failed to inspire bond traders at the start of a rather quiet week.
Eurodollar futures – The Eurodollar yield curve steepened a little after shorter-dated implied yields softened while back-end futures rose. September note futures were higher earlier as pre-market stocks suffered ahead … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Floats Around $99

Posted: 06 Jun 2011 03:00 AM PDT

06/06/11 Front month crude prices were trading just above $99 a barrel to start the week following mixed currency trade and global economic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Wall Street Opens Lower, Banks Decline

Posted: 06 Jun 2011 08:00 AM PDT

06/06/11 US stocks fell, with financials leading the way lower. Wells Fargo shares pulled back after a downgrade by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP Might Pause Its Sharp Rally Ahead Of This Week’s Central Bank Meetings

Posted: 06 Jun 2011 07:54 AM PDT

The Euro is the Strongest Currency Right Now (6/3)
EUR/GBP

- The EUR/GBP is in a very sharp rally as the Euro is strong across the board, and the sterling is pressured.
- The rally from 0.8610 to the current high at 0.8930 was more than 61.8% retracement of the decline we saw in May.
- A correction could be due because this week offers the Bank of England and European Central Bank decisions Thursday.
- Note the RSI reading way above 70 in the 4H chart. This shows bullish momentum, but in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Re-approaches 10-month High On Demand Outlook

Posted: 06 Jun 2011 07:51 AM PDT

Forex Pros – Natural gas futures advanced on Monday, re-approaching the highest price in ten months amid expectations for increased demand after forecasts showed warmer-than-normal temperatures across much of the U.S. next week.&nbsp; <br /><br />On the New York Mercantile Exchange, natural gas futures for July delivery traded at USD4.806 per million British thermal units during U.S. morning trade, surging 2.55%. <br /><br />It earlier rose by as much as 2.9% to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Steady As Euro Slips Amid Caution On Greece Deal

Posted: 06 Jun 2011 07:42 AM PDT

Forex Pros – The U.S. dollar was steady against its major counterparts on Monday, while the euro slipped amid concerns that new bailout terms for Greece may not be enough to help the country avoid an eventual restructuring of its debt.<br /><br />During early U.S. trade, the greenback was slightly higher against the euro, with EUR/USD sliding 0.18% to hit 1.4608.<br /><br />European Central Bank governing council member Christian Noyer warned earlier that countries who … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Extends Losses As IMF Warns Of U.K. Growth Risks

Posted: 06 Jun 2011 07:28 AM PDT

Forex Pros – The pound extended losses against the U.S. dollar on Monday, as the International Monetary Fund backed U.K. government plans to reduce the budget deficit, but said more quantitative easing may be needed if growth remained weak.<br /><br />GBP/USD hit 1.6366 during early U.S. trade, the daily low; the pair subsequently consolidated at 1.6380, shedding 0.27%.<br /><br />Cable was likely to find support at 1.6304, last Thursday&rsquo;s low and resistance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Jump To 5-week High On U.S. Economic Outlook

Posted: 06 Jun 2011 07:21 AM PDT

Forex Pros – Gold futures extended gains on Monday, jumping to a five-week high as mounting concerns over the U.S. economic outlook boosted the appeal of the precious metal. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,553.15 a troy ounce during U.S. morning trade, gaining 0.65%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />It … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 06 Jun 2011 01:15 AM PDT

06/06/11 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

NYFP’s This Week In Wall Street History

Posted: 06 Jun 2011 01:00 AM PDT

05/06/11 In the latest episode of NYFP presents This Week in Wall Street History, we review the history of airliner Southwest Airlines. From its turbulent beginning to its current market dominance, Southwest Airlines is a true pioneer in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SeaEnergy Agrees Sale Of Renewables Division To Repsol

Posted: 06 Jun 2011 01:18 AM PDT

SeaEnergy (LON:SEA) , the group behind plans to cash in on wind farm developments off the coast of the UK, has agreed a deal to sell its SeaEnergy Renewables Ltd (SERL) division to Spanish energy group Repsol for an enterprise value of £50 million. Shares in the AIM listed company responded by plunging 28.25p to 41.25p during the first hour of trading as investors weighed up whether boss Steve Remp had achieved a decent price for the business. SeaEnergy was set up three years ago and went on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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