DailyMarkets.com - Bank Failures Crawl Up To 58

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• Bank Failures Crawl Up To 58
• Meritor Trims 3Q Outlook
• Earnings Preview: Invesco
• Earnings Preview: W.R. Berkley Corp
• CNH Topped Estimates, Ups Guidance
• Vodafone Sees Higher Rev In 1Q
• Human Genome Incurs Wider Loss
• Earnings Preview: Cummins Inc.
• Earnings Preview: C.H. Robinson
• AAA Rating And The Relativity Of Global Economies
• POSCO Reports Impressive 2Q
• Earnings Preview: T. Rowe Price
• Reid Vs. Boehner – Who Wins The Debt Vote Royal Rumble?
• Earnings Preview:JEC
• GBP/JPY On The Cusp Of Bearish Continuation
• Forex – Dollar Broadly Lower, Weighed By U.S. Default Fears
• Swiss Franc: The Downside Prevails
• Australian Dollar: The Downside Prevails
• Earnings Preview: American Capital
• Earnings Preview: AK Steel
• Natural Gas Futures Rebound On Record U.S. East Coast Heat
• Forex Trading: EURUSD Testing The 38.2% Of The Move Up From Thursday
• Forex Trading: GBPUSD Bull Flag Still Alive, But Getting Old
• Forex – GBP/USD Retreats From 5-week High Ahead Of U.K. GDP
• USD/CAD With Double Top And Negative Reversal Signals; Targets 0.9315
• Crude Slides On Demand Concerns
• Gold Pares Gains, Remains Supported By U.S. Debt Impasse
• Morning Market Brief
• Sound Oil Disappointed By Marciano Testing Results In Italy

Bank Failures Crawl Up To 58 Posted: 25 Jul 2011 09:50 AM PDT Bank failures continue with no end in sight. Last Friday, U.S. regulators closed down three more banks, taking the total number to 58 so far in 2011. Two among the recently failed banks were based in Florida and the other was in Colorado. Looking back, there were 157 bank failures in 2010, 140 in 2009 and 25 in 2008. While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging issues like rock-bottom … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Meritor Trims 3Q Outlook Posted: 25 Jul 2011 09:50 AM PDT Meritor Inc. (MTOR) has disappointed its investors by lowering guidance for the third quarter of its fiscal year without citing any reason. The company now expects revenues for the period to go up 7%–8% from the second quarter to $1.28 billion–$1.29 billion, down from the earlier guidance of $1.3 billion–$1.375 billion provided in May. The company also expects adjusted earnings to lie between $100 million and $104 million in contrast to its earlier outlook of as high as $110 million. It … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Invesco Posted: 25 Jul 2011 09:50 AM PDT Invesco Ltd. (NYSE:IVZ) is scheduled to report its second quarter 2011 results before the opening bell on Tuesday, July 26. The Zacks Consensus Estimate for the quarter is 43 cents per share, representing a year-over-year growth of about 60%. Improving long-term investment performance propelled by a gradual recovery in the global equity market is expected to boost Invesco's operating results over the mid to long term. Though rising operating expenses will suppress earnings in the near term, a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: W.R. Berkley Corp Posted: 25 Jul 2011 09:50 AM PDT Property and Casualty insurer W.R. Berkley Corp. (NYSE:WRB) is slated to release its second quarter earnings on July 25, after the market closes. The current Zacks Consensus Estimate is 43 cents per share for the quarter, projecting a year-over-year decline of 33.8%. With respect to earnings surprise, Berkley has consistently outperformed the respective Zacks Consensus Estimates over the trailing four quarters. The average earnings surprise has been 3.13%, implying that Berkley has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CNH Topped Estimates, Ups Guidance Posted: 25 Jul 2011 09:36 AM PDT CNH Global N.V. (NYSE:CNH) posted a net income before restructuring and exceptional items of $320 million or $1.33 per share in the second quarter of 2011, which soared from a net income of $140 million or 59 cents in the year-earlier quarter.  The earnings results were ahead of the Zacks Consensus Estimate of 99 cents per share. Net sales of Equipment, excluding revenue from Financial Services were $4.88 billion, up 24% from the year-earlier quarter, driven by a double-digit growth across … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Vodafone Sees Higher Rev In 1Q Posted: 25 Jul 2011 09:36 AM PDT British mobile phone giant Vodafone Group Plc (NYSE:VOD) has announced key performance indicators for the first quarter of fiscal 2012. In its interim statement for the quarter, the carrier reported consolidated revenues of £11.66 billion ($19.09 billion), representing a 3.5% year-over-year growth. On an organic basis, group revenue upped 2.3% from the year-ago quarter. Vodafone does not report earnings in its quarterly filing. Group service revenue (93% of total revenue) increased 1.5% year over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Human Genome Incurs Wider Loss Posted: 25 Jul 2011 09:36 AM PDT Human Genome Sciences Inc.'s (NASDAQ:HGSI) second quarter 2011 loss of $0.42 per share was wider the year-ago loss of $0.30. However, the loss incurred in the second quarter of 2011 was in line with the loss hinted at by the Zacks Consensus Estimate. The wider year-over-year loss was attributable to lower revenues and higher expenses incurred towards the commercialization of potential blockbuster lupus drug, Benlysta. Benlysta has been co-developed by Human Genome with GlaxoSmithKline … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Cummins Inc. Posted: 25 Jul 2011 09:36 AM PDT Cummins Inc. (NYSE:CMI) is scheduled to release its second quarter 2011 results before the market opens on July 26, 2011. Columbus, Indiana-based Cummins earned a profit of $1.75 per share in the previous quarter, which was higher than the Zacks Consensus Estimate of $1.44 per share. For the upcoming quarter, the Zacks Consensus Estimate for Cummins is pegged at a profit of $2.01 per share, which reflects an annualized improvement of 61%. The upside potential of the estimate, essentially a proxy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: C.H. Robinson Posted: 25 Jul 2011 09:36 AM PDT The leading third party logistics company in North America,C.H. Robinson Worldwide Inc. (NASDAQ:CHRW) is slated to release its second quarter earnings on July 26 after market closes. The current Zacks Consensus Estimate for the second quarter is pegged at 69 cents, representing an annualized growth of 16.10% from the year-ago level. With respect to earnings surprise, over the trailing four quarters, C.H. Robinson has outperformed the Zacks Consensus Estimate for all the three quarters except for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AAA Rating And The Relativity Of Global Economies Posted: 25 Jul 2011 09:05 AM PDT I am not an economist. I am a trader. Therefore I can’t teach you anything meaningful about the elasticity of demand or the Phillips curve. But I can teach you about trend-following, momentum, position-sizing, probability-weighting of trade ideas, risk control, markets overreacting on emotions and the psychological discipline you need to have not to do it yourself. So what I am about to say about the global economy and the threat to the US AAA credit rating must be taken in that light. I may … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

POSCO Reports Impressive 2Q Posted: 25 Jul 2011 09:05 AM PDT On July 22, POSCO (NYSE:PKX) reported its second quarter 2011 financial results. Net income jumped 22.5% sequentially to KRW 1,372 billion or KRW 15,725 per share (US$3.63 per ADR). Compared with the year-ago quarter net income increased 22.6%.  Revenue  POSCO reported consolidated revenue of KRW 17,047 billion (US$15.8 billion) in the second quarter, an increase of 58.0% year over year and 4.9% sequentially. The year-over-year sales growth was driven by solid finished product sales … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: T. Rowe Price Posted: 25 Jul 2011 09:05 AM PDT T. Rowe Price Group Inc. (NASDAQ:TROW) is scheduled to report its second-quarter 2011 results before the opening bell on Tuesday, July 26. The Zacks Consensus Estimate for the second quarter is 78 cents per share, representing an increase of about 31% from the year-ago quarter. With a debt-free position, higher return on earnings and improving investor sentiment seen in the last quarter we believe fundamentals will continue to remain strong. Furthermore, relative mutual fund performance was also … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Reid Vs. Boehner – Who Wins The Debt Vote Royal Rumble? Posted: 25 Jul 2011 08:57 AM PDT Where does the US debt impasse stand now that the "grand bargain" has gone into the great dustbin? Well, we have 2 competing versions – one led by the Republicans in the House, the second led by the Democrats in the Senate. The 2 versions are pretty clear in that one tries to move the US beyond the crisis, while the other wants to revisit this issue in half a year's time. Because it's been so much fun to watch so far and who wouldn't want to repeat this process in half a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview:JEC Posted: 25 Jul 2011 08:35 AM PDT Jacobs Engineering Group Inc. (NYSE:JEC) will be reporting its third-quarter 2011 earnings on Tuesday, July 26, 2011. The current Zacks Consensus Estimate for earnings per share (EPS) is 70 cents, representing an annualized growth of 11.67%.   With respect to earnings surprises over the trailing four quarters, JEC outperformed the Zacks Consensus Estimate in one quarter; was in line in another and lagged behind in two other quarters. Average earnings surprise was a negative 0.56%. The average … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY On The Cusp Of Bearish Continuation Posted: 25 Jul 2011 08:26 AM PDT Prev: GBP/JPY breaking above a triangle; 129.00 is Critical Resistance (7/21) GBP/JPY Still in Consolidation: - The GBP/JPY is still in consolidation. The bullish attempt is respecting the 61.8% retracement level seen in the 4H chart. Only a break above 129.00 suggests we can be developing a bullish trend in the short-term. - The break above a declining trendline last week is not getting any confirmation as the throwback is too sharp. However, the RSI reading in the 4H chart still remains … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower, Weighed By U.S. Default Fears Posted: 25 Jul 2011 08:24 AM PDT Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Monday, as a lack of progress in talks aimed at raising the U.S. debt ceiling added to fears over a possible default, boosting safe haven demand.<br /><br />During early U.S. trade, the greenback was fractionally higher against the euro, with EUR/USD dipping 0.03% to hit 1.4354.<br /><br />Earlier Monday, ratings agency Moody’s cut Greece&rsquo;s sovereign debt rating by three … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails Posted: 25 Jul 2011 08:18 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: 25 Jul 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: American Capital Posted: 25 Jul 2011 08:05 AM PDT American Capital Agency Corp. (AGNC), a real estate investment trust, is slated to release its second quarter 2011 results on July 26, 2011, after the closing bell. The current Zacks Consensus Estimate for the second quarter is pegged at $1.34 per share, representing a year-over-year growth of about 26.4%. First Quarter Recap American Capital Agency reported earnings of $1.48 per share during first quarter 2011, compared with $2.13 in the year-earlier quarter. Excluding one-time items, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: AK Steel Posted: 25 Jul 2011 08:05 AM PDT AK Steel Holding Corporation (NYSE:AKS) announced that it would release its results for the second quarter of 2011 before the market opens on July 26, 2011. AK Steel reported an EPS of 8 cents compared with 2 cents during the year-ago quarter and striding ahead of the Zacks Consensus Estimate of a loss of a cent. In the upcoming quarter, the Zacks Consensus Estimate for AK Steel is pegged at a profit of $0.50 per share, reflecting an annualized growth of 48.53% of Zacks Consensus. With respect to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Rebound On Record U.S. East Coast Heat Posted: 25 Jul 2011 07:59 AM PDT Forexpros – Natural gas futures were up on Monday, rebounding from a seven-day low after forecasts of extreme heat in the U.S. boosted demand expectations for the cooling fuel.&nbsp;&nbsp; <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD4.410 per million British thermal units during U.S. morning trade, climbing 1%.&nbsp; <br /><br />It earlier rose as much as 1.3% to trade at a daily high of USD4.429 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Testing The 38.2% Of The Move Up From Thursday Posted: 25 Jul 2011 07:56 AM PDT The 1.42226 level is the 38.2% of the move up from the Thursday low and also the low on Friday and a support low from earlier in today's trade. The price is down testing this level for the third time and any shorts will be looking for a break of the level to open the door for further selling. The next target on the hourly comes in at the 1.4287 level where the 100 hour MA and the 50% of the move up from Thursday is found. If the level holds, the failure to break could lead to a rotation back … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Bull Flag Still Alive, But Getting Old Posted: 25 Jul 2011 07:44 AM PDT On Friday, the GBPUSD bull flag was on most traders mind. Today, the price opened and moved above the topside trendline and even took out the high from Friday, but the price momentum failed and with it the hope of an extension higher. To pour salt in the wounds another move above the top trendline occurred later in the day and this too was rejected rather quickly (see chart above). In the NY session, the trendline reasserted itself as resistance and over the last few hours, the price has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Retreats From 5-week High Ahead Of U.K. GDP Posted: 25 Jul 2011 07:37 AM PDT Forexpros – The pound retreated from a five-week high against the U.S. dollar on Monday, weighed by concerns that upcoming U.K. data on second quarter economic growth could be weaker-than-expected.<br /><br />GBP/USD pulled away from 1.6345, the pair&rsquo;s highest since June 15, to hit 1.6274 during early U.S. trade, sliding 0.16%.<br /><br />Cable was likely to find support at 1.6120, the low of July 21 and resistance at 1.6382, the high of June 15.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD With Double Top And Negative Reversal Signals; Targets 0.9315 Posted: 25 Jul 2011 07:32 AM PDT CAD Punished After Low Inflation Numbers (7/22) USD/CAD 0.9520 Resistance: - After being punished by flatter than expected inflation data, the loonie, or Canadian Dollar is resuming its bullish stance against the USD. - The market respected a previous pivot at 0.9520 despite a briefly and insignificantly breaking it. Double Top and Negative Reversal: - From this resistance at 0.9520, we have a double top seen in the 4H chart. - The RSI reading in the 4H chart is held below 60, and a break … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Slides On Demand Concerns Posted: 25 Jul 2011 07:30 AM PDT 07/25/11 Led by the breakdown of debt ceiling talks over the weekend, crude prices were in the red this morning on growing demand … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Pares Gains, Remains Supported By U.S. Debt Impasse Posted: 25 Jul 2011 07:27 AM PDT Forexpros – Gold futures pared gains on Monday, but remained well supported close to the record high amid mounting fears over a possible U.S. sovereign debt default after talks to raise the country&rsquo;s debt ceiling broke down over the weekend.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,615.55 a troy ounce during U.S. morning trade, gaining … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief Posted: 25 Jul 2011 01:15 AM PDT 07/25/11 The latest in news, commentary, and information on what’s moving the US equities markets prior to the ringing of the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sound Oil Disappointed By Marciano Testing Results In Italy Posted: 25 Jul 2011 02:23 AM PDT Sound Oil (LON:SOU) , the oil and gas company with assets in Italy and Indonesia, saw its shares fall heavily this morning on news that the gas reservoir at its hitherto promising Marciano-1 ST well was uncommercial. The company began testing work on the Marciano discovery well during June, which included the perforation of two potential gas-bearing zones. However, independent analysis of the pressure data from the test of the upper zone at Marciano concluded that initial gas-in-place in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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