DailyMarkets.com - Q2 2011 Results

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• Q2 2011 Results
• Walgreen Posts Solid Quarter
• VTR, NHP To Pay Prorated Dividends
• Invesco Announced Stock Offering
• Chubb Ups 2Q Cat Loss Estimate
• Motorola Solutions Remains Neutral
• Amerisafe, No More Safe
• PPG To Launch OPTICOR
• Scientific Games Extends Contract
• BorgWarner’s R2S North America
• Hyatt Expands In Malaysia
• Underperform Maintained On CSN
• PKX’s Orissa Project Gets A Setback
• Forex – Dollar Down Vs. Rivals Amid Optimism Ahead Of Greek Vote
• Natural Gas Futures Jump On Warmer Weather Outlook
• Word From The Floor: US Stocks Higher, Ahead Of Greek Vote
• North America Equities Extend Gains Post Existing Home Sales Report, CAD Gains On USD
• Forex Trading: EURUSD Looks To Break Above 1.4387 And Extend The Range
• Forex – Pound Erases Losses Against Dollar As Greece Vote Eyed
• A Kindness Gone Wrong – Credit’s Shot In Raleigh
• Tips For Investing In The New “King Coal”
• Gold Steady Near 2-week High As Greece Confidence Vote Eyed
• GBP/USD Pulls Back To Test A Short-term Double Top
• Crude Rises More Than 1% On Euro Boost
• Forex Trading: AUD/USD Upside Pressure Looks To Break Triangle Pattern Consolidation
• Forex – EUR/USD Holds Gains Ahead Of Key Greece Vote
• Forex Trading: USDCAD Moves Toward The 100 Day MA/38.2% Retracement
• Xtract Energy Shares Suspended Ahead Of Elko Takeover

Q2 2011 Results Posted: 21 Jun 2011 09:55 AM PDT Brian Marckx, CFA Q2 2011 Results – In-Line With Our Numbers CardioGenics (CGNH) filed their 10-Q for the second quarter ending April 30, 2011 on June 20, 2011.  Similar to the prior quarter, results were largely in-line with our estimates with no meaningful surprises.  Operating loss was $624k, $20k better than our $644 loss estimate.  Net loss and EPS came in at $716k and ($0.01) compared to our estimates of $642k and ($0.01).  The difference in net loss is mostly a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Walgreen Posts Solid Quarter Posted: 21 Jun 2011 09:55 AM PDT Walgreen (NYSE:WAG) reported earnings of 65 cents per share in the third quarter of fiscal 2011, beating the Zacks Consensus Estimate of 62 cents and were 38.3% higher than the year-ago quarter earnings 47 cents. Results for the quarter included restructuring and restructuring-related costs of a penny per share associated with the company's Rewiring for Growth initiative. The year-ago quarter included a negative impact of 4 cents per share from the elimination of the tax benefit for the Medicare … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

VTR, NHP To Pay Prorated Dividends Posted: 21 Jun 2011 09:55 AM PDT Ventas, Inc. (NYSE:VTR) and Nationwide Health Properties Inc. (NHP) announced that they would pay prorated dividends on their respective common stocks for the current quarter, conditioned upon the impending merger of the two companies. The dividends would be payable in cash to stockholders on the last business day prior to the date on which the merger becomes effective. The merger is expected to close on or after July 1, 2011, pending approval of the companies' shareholders Both the companies … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Invesco Announced Stock Offering Posted: 21 Jun 2011 09:35 AM PDT Yesterday, Invesco Mortgage Capital Inc. (IVR) announced its plan to offer 15 million shares of its common stock. Underwriters will be permitted a 30-day option to purchase up to an added 2.25 million shares to cover over-allotments. Credit Suisse Securities (USA) LLC, a subsidiary of Credit Suisse (NYSE:CS) and Morgan Stanley & Co. LLC, a division of Morgan Stanley (NYSE:MS) are acting as joint book-running managers for the offering. Earlier in March 2011, Invesco completed the public offering … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chubb Ups 2Q Cat Loss Estimate Posted: 21 Jun 2011 09:35 AM PDT Property and casualty insurer Chubb Corporation (CB) has made an upward revision to its preliminary estimate of second quarter 2011 catastrophe losses (cat losses) based on property damages resulting from cataclysmic weather conditions in the months of April and May. After the revision, the company expects pre-tax cat losses in the range of $250 million to $310 million. Chubb stated that its pre-tax losses for May were about $75–$85 million, in addition to the $175–$ 225 million catastrophe … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Motorola Solutions Remains Neutral Posted: 21 Jun 2011 09:10 AM PDT We reiterate our long-term Neutral recommendation on Motorola Solutions Inc. (MSI). The company reported excellent financial results for the first quarter of 2011. Both top line and bottom line beat the Zacks Consensus Estimates. Motorola Solutions is a market leader in the lucrative U.S. Public Safety market. While the federal budgetary pressures are anticipated to continue, state and local level agencies have become major growth drivers for the company. We believe the company will maintain … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Amerisafe, No More Safe Posted: 21 Jun 2011 09:05 AM PDT We have downgraded our recommendation on Amerisafe Inc. (NASDAQ:AMSF) to 'Underperform' from 'Neutral' based on its weak first quarter performance that questions its current sustainability factor. The company's first-quarter operating earnings per share of 35 cents lagged the Zacks Consensus Estimate of 39 cents and 45 cents reported in the prior-year quarter. Low underwriting profits coupled with higher expenses pulled down both the combined ratio and the operating ROE substantially. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PPG To Launch OPTICOR Posted: 21 Jun 2011 08:37 AM PDT PPG Industries Inc. (NYSE:PPG) aerospace transparencies group announced the launching of the brand name of its craze-resistant, high-performance aerospace transparency material at the Paris Air Show. According to the global director for new business development and innovations for transparencies, OPTICOR advanced transparency material by PPG Aerospace happens to be the first new transparent plastic for aerospace applications. Opticor advanced transparency material fulfills the criteria of being a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Scientific Games Extends Contract Posted: 21 Jun 2011 08:26 AM PDT Scientific Games Corp. (SGMS) recently signed a five-year contract extension agreement with Georgia Lottery Corporation. Under the terms of the contract, Scientific Games will serve as the primary vendor supplying instant tickets and related services including game design, marketing, warehousing and distribution up to 2018. Scientific Games will continue to generate revenues based on a percentage of instant ticket retail sales. In fiscal 2010, Georgia Lottery Corporation generated over $3.6 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BorgWarner’s R2S North America Posted: 21 Jun 2011 08:26 AM PDT BorgWarner Inc. (NYSE:BWA) recently unveiled a powerful and efficient regulated two-stage (R2S) turbocharging system in North America that meets the Fiat Powertrain Technologies' (FPT) specific requirements while achieving the engine’s optimum power output of 120 kW and 400 Nm of torque for the said market. The R2S system comprises a K03 high-pressure turbocharger and a B2 low-pressure turbocharger. After dominating the European and the Asian market for almost two years, the system was recently … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hyatt Expands In Malaysia Posted: 21 Jun 2011 08:26 AM PDT Hyatt Hotels Corporation (H) recently announced that one of its affiliates has signed a contract with Bahagia Investment Corporation (Malaysia) Sdn Bhd for the operation of Grand Hyatt Kuala Lumpur.  Financial terms of the deal were not disclosed.  Bahagia Investment, a property investment company, is constructing a 42-storey mixed development project in Kuala Lumpur and the Grand Hyatt hotel will be occupying floors 17 to 39 of the complex. Hyatt will be looking after the hotel and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Underperform Maintained On CSN Posted: 21 Jun 2011 08:26 AM PDT We recently maintained an Underperform recommendation on Brazil-based Companhia Siderurgica Nacional (NYSE:SID), or CSN. Companhia Siderurgica produces hot- and cold-rolled flat steel, galvanized sheets, and tin plates for the packaging, automotive, and construction industries. Over the long term, the growth prospects of CSN appear to be encouraging, considering the various projects that are being carried out by the company and the escalating trends of the global steel demand. According to the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PKX’s Orissa Project Gets A Setback Posted: 21 Jun 2011 08:26 AM PDT Korean steel producer, POSCO's (NYSE:PKX) $12 billion (Rs 52,000 crore) steel plant project at Orissa suffered a setback after the state government stopped the land acquisition procedure indefinitely in response to stiff opposition from the local communities. It's the sixth year since the steel major signed a memorandum of understanding (MOU) with the Orissa government in 2005 to build a 12 million ton annual capacity plant in the eastern provinces of the state covering approximately 1,621 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Down Vs. Rivals Amid Optimism Ahead Of Greek Vote Posted: 21 Jun 2011 08:09 AM PDT Forex Pros – The U.S. dollar was down against all of its major counterparts on Tuesday, as optimism that Greek Prime Minister George Papandreou&rsquo;s government would survive a confidence vote later in the day boosted demand for riskier assets.<br /><br />During early U.S. trade, the greenback was down against the euro, with EUR/USD climbing 0.53% to hit 1.4379.<br /><br />The confidence vote needed to pass in order for Greece&rsquo;s government to secure … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Jump On Warmer Weather Outlook Posted: 21 Jun 2011 08:06 AM PDT Forex Pros – Natural gas futures were up for a second day on Tuesday, as prices were boosted by a warmer-than-normal weather outlook that was expected to increase demand for the fuel.<br /><br />On the New York Mercantile Exchange, natural gas futures for July delivery traded at USD4.379 per million British thermal units during U.S. morning trade, jumping 1.75%. <br /><br />It earlier rose as much as 2% to USD4.397 per million British thermal units, the highest price … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: US Stocks Higher, Ahead Of Greek Vote Posted: 21 Jun 2011 08:00 AM PDT 06/21/11 Wall Street extended gains, ahead of the confidence vote for the Greek parliament. Crude oil rose above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

North America Equities Extend Gains Post Existing Home Sales Report, CAD Gains On USD Posted: 21 Jun 2011 07:57 AM PDT US equities extended gains after existing home sales data came out at 10AM ET. While Bloomberg carries the negative headline that US existing home sales hit a six-month low, the reaction in the stock market was positive as sales fell less than expected. From Bloomberg: "Purchases of existing homes fell 3.8 percent to a 4.81 million annual pace last month, in line with the 4.8 million median estimate in a Bloomberg News survey of economists, data from the National Association of Realtors … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Looks To Break Above 1.4387 And Extend The Range Posted: 21 Jun 2011 07:50 AM PDT The EURUSD is testing the high for the day at the 1.4387 level. The activity has increased in the last hour or so, with increased buy and sell activity.  An energy seems to be developing for a break above or a failure and move back below the 200 hour MA level.  The narrow range which now is 85 pips from low to the high is only surpassed by the 65 pips range from May 30th over the last couple months.  Although the day could remain contained within the narrow range, be aware … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Pound Erases Losses Against Dollar As Greece Vote Eyed Posted: 21 Jun 2011 07:47 AM PDT Forex Pros – The pound erased losses against the U.S. dollar on Tuesday, as optimism that Greek Prime Minister George Papandreou&rsquo;s government would survive a confidence vote later in the day bolstered risk appetite.<br /><br />GBP/USD clawed back up from 1.6166, the daily low, to hit 1.6225 during early U.S. trade, easing up 0.13%.<br /><br />Cable was likely to find support at 1.6109, Monday&rsquo;s low and resistance at 1.6282, the high of June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Kindness Gone Wrong – Credit’s Shot In Raleigh Posted: 21 Jun 2011 07:46 AM PDT … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tips For Investing In The New “King Coal” Posted: 21 Jun 2011 07:44 AM PDT Tips for Investing in the New "King Coal" by David Fessler, Senior Analyst, Investment U Tuesday, June 21, 2011: Issue #1359 When it comes to commodity investment, it's critical that you know your history. Poll any American about the origins of coal, and you'll likely get the answer that it was first mined here. Perhaps they were paying as much attention in history class as I was. More likely schools never touched this subject in the first place. But it's important to understand the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Steady Near 2-week High As Greece Confidence Vote Eyed Posted: 21 Jun 2011 07:32 AM PDT Forex Pros – Gold futures were up for a third day on Tuesday, hovering close to Monday&rsquo;s two-week high as a broadly weaker U.S. dollar boosted the appeal of the precious metal ahead of a key confidence vote in the Greek parliament later in the day. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,545.15 a troy ounce during U.S. morning trade, gaining … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Pulls Back To Test A Short-term Double Top Posted: 21 Jun 2011 07:30 AM PDT GBP/USD Attempts Double Bottom from Triangle Support (6/17) GBP/USD Short-Term to Medium-Term- The GBP/USD rallied from a double bottom last week. This still looks like a corrective rally, which is still contained under the 200SMA and the 50% retracement level. - In the European session, we formed a double top. The US session is developing a pullback towards the double top. - If the current rally respects the topping action, and the market closes below 1.6170 in the 1H chart, the bearish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Rises More Than 1% On Euro Boost Posted: 21 Jun 2011 02:30 AM PDT 06/21/11 Front month crude prices posted a significant gain today, more than 1% in the morning hours, as the euro rebounded against the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: AUD/USD Upside Pressure Looks To Break Triangle Pattern Consolidation Posted: 21 Jun 2011 07:20 AM PDT AUD/USD (daily chart) as of Tuesday (6/21/2011) has continued to languish within a large consolidation represented by a symmetrical triangle pattern formation. This converging consolidation has been forming since the all-time high of 1.1010 was hit in early May. Currently nearing the apex of this triangle, price action could soon make a significant breakout. As the overall trend has been bullish for at least a year, the directional bias for a breakout of this consolidation is potentially to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Holds Gains Ahead Of Key Greece Vote Posted: 21 Jun 2011 07:20 AM PDT Forex Pros – The euro held gains against the U.S. dollar on Tuesday, as investors awaited the outcome of a critical parliamentary confidence vote for Greek Prime Minister George Papandreou.<br /><br />EUR/USD hit 1.4388 during early U.S. trade, the pair&rsquo;s highest since June 15; the pair subsequently consolidated at 1.4369, gaining 0.46%.<br /><br />The pair was likely to find support at 1.4126, last Friday&rsquo;s low and resistance at 1.4496, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCAD Moves Toward The 100 Day MA/38.2% Retracement Posted: 21 Jun 2011 07:19 AM PDT The USDCAD has moved down to test the key 100 day MA and 38.2% retracement at 0.9724. This level should find some profit taking activity at the level.  A move below could gain momentum with 0.9671 the next longer term target.  Be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Xtract Energy Shares Suspended Ahead Of Elko Takeover Posted: 21 Jun 2011 01:57 AM PDT Shares in AIM quoted oil and gas investor Xtract Energy (LON:XTR) were suspended from trading this morning ahead of a reverse takeover involving the company's main subsidiary, Elko Energy Inc. Xtract has offered to buy Elko outright in a move that will transform it from an investing company to one focused on operations. Once the deal has completed Xtract will resume trading on AIM. The all-share deal will see Xtract issue seven of its own shares for every single Elko share. Presently Elko … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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