Wednesday, June 22, 2011

DailyMarkets.com - Pelangio Now Owns 100% Interest In Obuasi Property

DailyMarkets.com - Pelangio Now Owns 100% Interest In Obuasi Property


Pelangio Now Owns 100% Interest In Obuasi Property

Posted: 22 Jun 2011 09:55 AM PDT

Steven Ralston, CFA
Pelangio now owns 100% interest in Obuasi property

Pelangio Exploration (PX.V: TSX-V and PGXPF: OTCBB) announced that the final option payment of $750,000 was made on the Obuasi Property so that subject to Ghana's legislated 10% carried interest upon commencement of mining operations, Pelangio now has a 100% interest in Obuasi property in Ghana.

In addition, Pelangio has entered into an agreement to acquire a 100% interest in the Akroma property, a 160 square kilometer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


DPP FIOCRUZ Sales Forecast

Posted: 22 Jun 2011 09:55 AM PDT

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

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


Berkley Declares Cat Loss Estimate

Posted: 22 Jun 2011 09:55 AM PDT

Property and casualty insurer W. R. Berkley Corporation (NYSE:WRB) announced that it expects pre-tax catastrophe losses (cat losses) of $65 million for the months of April and May, based on property damages resulting from cataclysmic weather conditions.
The new estimate is significantly greater than the company's budgeted expectation of second quarter cat loss of $35 million. During the first quarter, Berkley reported cat losses of $24 million compared with $23 million in first quarter 2010. Cat … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


BofA Plans To Double FSA Count

Posted: 22 Jun 2011 09:55 AM PDT

On Tuesday, Bank of America Corporation (NYSE:BAC) announced its plan to hire more than 500 Financial Solution Advisors (FSAs) by the end of this year, bringing the total number of FSAs to about 1,000. This move fits well with BofA's overall strategy to improve solutions and guidance that are being provided to its 'preferred customers' with investable assets of $50,000 to $250,000.
BofA at present has about 8 million preferred customer accounts with an unmatched insight into their financial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


McDonald’s Still At Neutral

Posted: 22 Jun 2011 09:35 AM PDT

We remain Neutral on McDonald’s Corp. (NYSE:MCD) over the long term. Our reiteration is based on the company's growing same-restaurant sales, ability to attract healthy traffic in spite of menu price increases and restaurant reimaging program, partially offset by steeply rising commodity costs, the recent E. coli epidemic in Germany and tough competition.
Encouraging Factors
Increasing Same-restaurant Sales: We are impressed with the same-restaurant sales of McDonald’s that has been on the rise … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Dollar: The Downside Prevails

Posted: 22 Jun 2011 09:19 AM PDT

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


Canadian Dollar: Key ST Resistance At 993

Posted: 22 Jun 2011 09:19 AM PDT

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


HON’s Biofuel Powers Gulfstream

Posted: 22 Jun 2011 09:05 AM PDT

Honeywell International Inc.'s (NYSE:HON) Green Jet Fuel was recently used to power the first transatlantic biofuel flight, Gulfstream G450. The flight, operated by Honeywell, landed at the Paris-Le Bourget Airport.
Gulfstream G450 was the first aircraft to fly from North America to Europe, and will be powered by equal proportion of Honeywell Green Jet Fuel and petroleum-based jet fuel. The mixed fuel powered one of the aircraft’s Rolls-Royce engines. Moreover, Gulfstream G450 was the first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Neutral On NASDAQ

Posted: 22 Jun 2011 09:05 AM PDT

We maintain our Neutral recommendation on NASDAQ OMX Group Inc. (NASDAQ:NDAQ) based on its current sustainability factor. The company's first quarter earnings beat the Zacks Consensus Estimate driven by strong revenue growth across the board coupled with moderate expense management. However, new listings and order intakes continued to be on the downside.
NASDAQ has been facing intense competition with the recent wave of M&A activities in the stock exchange industry that tends to reduce the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Japan Showing Signs Of Life After The Quake

Posted: 22 Jun 2011 09:00 AM PDT

Japan Showing Signs of Life After the Quake
by Justin Dove, Investment U Research
Wednesday, June 22, 2011
The Great East Japan Earthquake shook up Japanese electronics manufacturers like Sony (NYSE:SNE), Hitachi (NYSE:HIT) and Panasonic (PC) in March. And things haven't turned around yet.
Sony's stock is still reeling as it hit a 52-week low last week – a drop of more than 25 percent from its pre-quake price. Panasonic is down more than 10 percent and Hitachi is down approximately eight … [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: 22 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 1.4400, down 0.08% at time of writing.<br/><br/> The pair was likely to find support at 1.4128, Friday&rsquo;s low, and resistance at 1.4442, today&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.64% to hit 0.8928 and EUR/JPY falling 0.27% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Falls Below Support And Sees A Quick Liquidation

Posted: 22 Jun 2011 08:42 AM PDT

Ingram In Twin Distribution Deals

Posted: 22 Jun 2011 08:36 AM PDT

Ingram Micro Inc. (NYSE:IM) sealed two distributor deals in two days. The leading distributor of information technology (IT) entered into agreements with Revolabs Inc., a provider of wireless audio products, and Kaspersky Lab, an ace provider of Internet security.
The deal with Revolabs Inc. entitles Ingram Micro to market and sell its product suites to resellers and channel partners across the North American markets. Financial terms of the deal were not disclosed.
Products that are coming under … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: USDJPY And The 80.00 Level

Posted: 22 Jun 2011 08:30 AM PDT

The 80.00 level is a nice round number that has been a floor for the USDJPY over the last 4 days of trading. On June 8th, the price moved below this level on it's way to a low of 79.68 before finding buyers and moving back up to the high since then at 81.047.  The 137 pip range over the last 3 weeks of trading, should solicit a break at some point, and the pairs ability to stay below the 100 hour MA since June 17th keeps the pressure to the downside.
Looking at the 5 minute chart, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


FedEx Tops On Strong Volume

Posted: 22 Jun 2011 08:26 AM PDT

Before the opening bell, FedEx Corporation (NYSE:FDX), the world’s second-largest package delivery company, reported fourth quarter 2011 adjusted earnings of $1.75 per share. The quarter's earnings outpaced the Zacks Consensus Estimate by 3 cents and increased 32% from $1.33 earned in the year-ago quarter.
Stronger results were aided by a higher fuel surcharge that offset the rising fuel prices. For fiscal 2011, FedEx reported adjusted earnings of $4.90 per share, up 30% from $3.76 in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


FedEx Tops On Strong Volume

Posted: 22 Jun 2011 08:26 AM PDT

Before the opening bell, FedEx Corporation (NYSE:FDX), the world’s second-largest package delivery company, reported fourth quarter 2011 adjusted earnings of $1.75 per share. The quarter's earnings outpaced the Zacks Consensus Estimate by 3 cents and increased 32% from $1.33 earned in the year-ago quarter.
Stronger results were aided by a higher fuel surcharge that offset the rising fuel prices. For fiscal 2011, FedEx reported adjusted earnings of $4.90 per share, up 30% from $3.76 in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Nokia Reverts Back To MeeGo

Posted: 22 Jun 2011 08:26 AM PDT

When the whole world was waiting eagerly for Nokia's Windows Phone 7-based smartphones, Nokia Corporation (INTL). The newly launched unsubsidized mobile device is priced at $670 for 16GB handsets and $760 for 64GB handsets.
Earlier, Nokia took a historic decision to adopt Windows Phone 7 software for all its forthcoming smartphones, thereby sidelining its own less user-friendly operating system Symbian and the much-hyped Linux-based MeeGo software. But the company surprised everyone by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Omnicell’s EHR Wins Certification

Posted: 22 Jun 2011 08:26 AM PDT

Omnicell, Inc. (NASDAQ:OMCL), a leading developer and marketer of end-to-end automation solutions for the medication-use process, recently announced that its newly launched G4 platform received the ONC-ATCB certification as a Modular Electronic Health Record ("EHR”). Omnicell became the first hospital pharmacy automation company to achieve this certification and the company intends to support its clients to qualify for federal funding incentives under the American Recovery and Reinvestment Act … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Omnicell’s EHR Wins Certification

Posted: 22 Jun 2011 08:26 AM PDT

Omnicell, Inc. (NASDAQ:OMCL), a leading developer and marketer of end-to-end automation solutions for the medication-use process, recently announced that its newly launched G4 platform received the ONC-ATCB certification as a Modular Electronic Health Record ("EHR”). Omnicell became the first hospital pharmacy automation company to achieve this certification and the company intends to support its clients to qualify for federal funding incentives under the American Recovery and Reinvestment Act … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Krispy Fortifies Base In S.Carolina

Posted: 22 Jun 2011 08:26 AM PDT

Winston-Salem, North Carolina-based Krispy Kreme Doughnuts, Inc (NYSE:KKD), which currently owns and operates 86 stores and franchises 566, has opened its second neighborhood shop in Columbia, South Carolina. The company opened its first 2,000-square feet store in Columbia in May 2011.
The newly opened shop covers approximately 2,000 square feet and also includes a drive-thru. It is situated on Clemson Road and is expected to benefit from its favorable location. The menu also offers great variety … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Carnival Beats Q2 Estimates

Posted: 22 Jun 2011 08:26 AM PDT

Carnival Corporation (CCL) reported second quarter 2011 earnings of 26 cents per share, surpassing the Zacks Consensus Estimate of 22 cents but deteriorating from 32 cents earned in the year-ago quarter.
 
While the earnings were aided by better-than-expected net revenue yields in North America brands, persistent hikes in fuel prices, geo-political turmoil and the disaster in Japan were the dampeners. Moreover, bookings were soft in U.K. and Southern Europe. However, earnings also exceeded … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Carnival Beats Q2 Estimates

Posted: 22 Jun 2011 08:26 AM PDT

Carnival Corporation (CCL) reported second quarter 2011 earnings of 26 cents per share, surpassing the Zacks Consensus Estimate of 22 cents but deteriorating from 32 cents earned in the year-ago quarter.
 
While the earnings were aided by better-than-expected net revenue yields in North America brands, persistent hikes in fuel prices, geo-political turmoil and the disaster in Japan were the dampeners. Moreover, bookings were soft in U.K. and Southern Europe. However, earnings also exceeded … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Siemens Acquires Minor Stake In Semprius

Posted: 22 Jun 2011 08:26 AM PDT

According to biz journals, Siemens AG has acquired a 16% stake in Durham, North Carolina based Semprius, manufacturer of high concentrating photovoltaic modules (HCPV). The terms of the transaction were not disclosed.
Semprius, develops HCPV solar modules that increase efficiency by using lenses to concentrate sunlight onto cells that produce power. Through this acquisition, the company adds the photovoltaic form of energy generation to its already established energy division.
Siemens' Energy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Siemens Acquires Minor Stake In Semprius

Posted: 22 Jun 2011 08:26 AM PDT

According to biz journals, Siemens AG has acquired a 16% stake in Durham, North Carolina based Semprius, manufacturer of high concentrating photovoltaic modules (HCPV). The terms of the transaction were not disclosed.
Semprius, develops HCPV solar modules that increase efficiency by using lenses to concentrate sunlight onto cells that produce power. Through this acquisition, the company adds the photovoltaic form of energy generation to its already established energy division.
Siemens' Energy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Lockheed Supporting Navy Submarines

Posted: 22 Jun 2011 08:26 AM PDT

A Lockheed Martin Corporation (NYSE:LMT) led team received a contract worth $758 million from the U.S. Navy to provide combat and sonar systems to submarines. Lockheed will take inspiration from commercial hardware and software to develop the required systems for the submarines. The other players of the team are DRS Technologies and Progeny Systems.
Through the Technology Insertion Hardware program of the Navy, Lockheed is entrusted with the designing, developing and producing hardware for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Lower Vs. Most Rivals As FOMC, Bernanke Eyed

Posted: 22 Jun 2011 08:25 AM PDT

Forex Pros – The U.S. dollar was down against most of its major counterparts on Wednesday, as markets awaited the release of the Federal Reserve&rsquo;s interest rate announcement and comments from Chairman Ben Bernanke, which could pressure the greenback.<br /><br />During European morning trade, the greenback was down against the euro, with EUR/USD edging 0.14% higher to hit a one-week high of 1.4433.<br /><br />Greece&rsquo;s parliament supported Prime … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: GBPUSD Corrects To Intraday Target.

Posted: 22 Jun 2011 08:21 AM PDT

The GBPUSD found enough buyers against the 1.6094 floor and has wandered back higher. The price is now testing an upside target at the 1.6135-42 level as outlined in the earlier post (CLICK HERE).  The 100 bar MA on the 5 minute chart has also fallen to the level, providing additional resistance for traders to define risk against. 
If the price stays below this level, look for a rotation to the downside.  A move above the 1.6142 level should target the 1.6157 and 1.6177 next and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Word From The Floor: Wall Street Mixed Ahead Of Fed

Posted: 22 Jun 2011 08:00 AM PDT

06/22/11 US stocks opened with a mild pullback following the Greek confidence vote. The FOMC announces its rate decision, with focus on Bernanke’s press … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Natural Gas Futures Sharply Lower On Mild U.S. Weather

Posted: 22 Jun 2011 07:59 AM PDT

Forex Pros – Natural gas futures were down for the first time in three days on Wednesday, amid expectations for reduced demand after forecasts showed mild weather in the Northeastern U.S. states in early July. <br /><br />On the New York Mercantile Exchange, natural gas futures for July delivery traded at USD4.354 pr million British thermal units during U.S. morning trade, tumbling 1.3%. <br /><br />It earlier fell to a daily low of USD4.346 per million British thermal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Previewing Today’s FOMC Statement: Chance For Risk Aversion On Gloomy Picture From Bernanke

Posted: 22 Jun 2011 07:46 AM PDT

The FOMC meeting is set to wrap up today and the FOMC's statement will be watched for signs of where future Fed policy may go.
We heard from Fed Chairman Bernanke recently as he described the slow pace of the recovery in recent months, but also as he did not bring up the use of more quantitative easing as a solution. The support that the Fed can give to the economy and to markets is that they will keep interest rates at their record lows for longer and that they will continue to re-invest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Moves Toward Upper Trendline Target

Posted: 22 Jun 2011 07:39 AM PDT

The EURUSD has continued to march higher – holding the support against the 100 bar MA at the 1.4391 level before surging to the upside (see chart below).  The pair is approaching resistance against the hourly channel trendline at the 1.4447 area. This is the outside resistance for the pair we were looking at in the earlier report today (CLICK HERE).  

With Bernanke ahead, I would expect the market to find sellers against the level but with the dollar under pressure today (and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Futures Extend Gains After U.S. EIA Inventory Data

Posted: 22 Jun 2011 07:39 AM PDT

Forex Pros – Crude oil futures extended gains on Wednesday, climbing to a three-day high after a government report showed that U.S. crude oil inventories fell more-than-expected last week, easing concerns over a slowdown in demand from the world&rsquo;s largest consumer. <br /><br />On the New York Mercantile Exchange, light sweet crude futures for delivery in August traded at USD95.12 a barrel during U.S. morning trade, jumping 1.45%.&nbsp; <br /><br />It … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: GBPCHF Tests Key Trendline Support

Posted: 22 Jun 2011 07:36 AM PDT

The GBPCHF has moved sharply lower to new lows as the GBP has come under pressure off of the dovish MPC meeting minutes and the CHF remains a safe haven currency. The price has moved below key channel support at the 1.3535 level today.  This is an acceleration of the trend move and should lead to further declines in the pair. Traders who are buying dips need to see a move back above the trendline to signal a potential bottom in the pair.  If not, the trend is fast. The trend is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Sharply Lower On BoE Rate Outlook

Posted: 22 Jun 2011 07:20 AM PDT

Forex Pros – The pound was sharply lower against the U.S. dollar on Wednesday, slumping to a four-day low after minutes from the Bank of England&rsquo;s June 9 meeting showed some policymakers believed that more asset purchases may be needed. <br /><br />GBP/USD hit 1.6095 during U.S. morning trade, the pair&rsquo;s lowest since June 16; the pair subsequently consolidated at 1.6109, tumbling 0.83%.<br /><br />Cable was likely to find support at 1.6077, the low … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Morning Market Brief

Posted: 22 Jun 2011 01:15 AM PDT

06/22/11 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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