Tuesday, July 12, 2011

DailyMarkets.com - BJ’s Reports Robust Sales

DailyMarkets.com - BJ’s Reports Robust Sales

BJ’s Reports Robust Sales

Posted: 12 Jul 2011 12:05 PM PDT

BJ's Wholesale Club Inc.(NYSE:BJ), a leading warehouse club operator in the United States, recently posted healthy sales results for the five weeks period ended July 2, 2011.
After registering a jump of 7.4% in May 2011, BJ's experienced comparable club sales growth of 7.3% in June. Rising gasoline prices aided comparable club sales by 3.8% during the five-week period. Comparable club sales growth, in the reported month, fared much better than 3.8% in the prior-year period. 
For the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CenturyLink Invests In New Mexico

Posted: 12 Jul 2011 11:55 AM PDT

CenturyLink Inc. (NYSE:CTL) has completed its $258 million investment in New Mexico. The company invested $3 million more than the required amount as specified by the New Mexico Public Regulatory Commission (PRC) under the 2007 Second Amended Settlement Agreement.
In 2007, prior to the merger with CenturyLink, Qwest Communications was obligated to make an investment of $255 million to PRC to enhance telecommunication services in New Mexico. CenturyLink kept this commitment post merger.
Per the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

St. Jude DBS Study Expansion Ok’ed

Posted: 12 Jul 2011 11:55 AM PDT

Medical technology giant St. Jude (NYSE:STJ) reported that the U.S. Food and Drug Administration ("FDA") has permitted the company to expand a study evaluating the effectiveness of its deep brain stimulation ("DBS") system in treating severe depression.
The study dubbed "Brodmann Area 25 Deep Brain Neurostimulation (BROADEN)" is investigating whether stimulation of a region in the brain, called Brodmann Area 25 (BA25), with the company's Libra DBS system, is safe and effective in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Varian’s Nuggets From Brazil Con

Posted: 12 Jul 2011 11:55 AM PDT

Leading integrated radiotherapy systems maker, Varian Medical Systems (NYSE:VAR) recently disclosed that progress in radiotherapy for cancer treatment was among the numerous topics focused on, at the thirteenth annual congress of the Brazilian Society of Radiotherapy ("SBRT"), held last month. The four days of scientific presentations attracted 900 clinical professionals from across South America who shared their perspectives on the usage of advanced radiotherapy for treatment of different … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Rig Count Up By A Unit

Posted: 12 Jul 2011 11:35 AM PDT

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a marginal rise in the U.S. rig count (number of rigs searching for oil and gas in the country). This can be primarily attributed to an increase in the tally of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN) and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Petrobras Aims For Higher Output

Posted: 12 Jul 2011 11:35 AM PDT

As explained by a top executive of Petroleo Brasileiro S.A. or Petrobras (NYSE:PBR), the company plans to boost its gasoline production by 12.5% year over year in July.
With this effort, management expects to minimize its fuel imports.
In order to cope with the growing domestic demand of gasoline, Petrobras has been consistently increasing its production from the beginning of 2011. In this regard, the company has upgraded its refineries and implemented advanced technologies to generate higher … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Prologis Leases Japanese Facilities

Posted: 12 Jul 2011 11:35 AM PDT

Prologis Inc. (NYSE:PLD) – the erstwhile AMB Property Corp., has recently signed four new lease agreements spanning 723,000 square feet of its development portfolio in Japan. The leased industrial space is spread across three separate facilities in diverse locations of the country, signifying the inherent demand of high-quality distribution facilities that can endure natural calamities like earthquake and tsunami to a great extent.   
Prologis leased 328,000 square feet to Nippon … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Range-Bound

Posted: 12 Jul 2011 11:18 AM PDT

Cusick’s Corner
Last night as I was doing a webinar I was catching myself trading more than teaching as the markets were on the move – US Dollar was running to the upside, Euro sliced through $1.40, bonds were running on the long end and the equities sliced through that support level, 1315. Then as rumors started to surface that the ECB stepped into bond offerings in Italy and Spain, the markets came off the lows and I had to get some sleep. Today’s action does support the comments yesterday, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 12 Jul 2011 11:15 AM PDT

Forex Pros – pros – The Australian Dollar was lower against the U.S. Dollar on Tuesday after the release of U.S. data on Trade Balance.<br/><br/> AUD/USD was trading at 1.0633, down 0.22% at time of writing.<br/><br/> The pair was likely to find support at 1.0525, today&rsquo;s low, and resistance at 1.0788, Friday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that The U.S. trade balance fell more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NCR To Take Over Radiant Systems

Posted: 12 Jul 2011 11:05 AM PDT

NCR Corporation (NCR) recently agreed to acquire Radiant Systems Inc., a provider of hardware and software systems for the restaurant and hotel industry, for $1.2 billion in cash.
NCR, a leading technology and solutions provider for the retail and financial services industry, is expected to pay $28.0 for every share of Radiant Systems. At the current purchase price, the tender offer reflects a 28.0% premium over Friday's closing price of $21.95.
The news of the acquisition drove the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EBay Aims Mobile Carrier Billing

Posted: 12 Jul 2011 10:55 AM PDT

E-commerce service provider, eBay Inc. (NASDAQ:EBAY) has agreed to acquire a Chinese mobile carrier billing payment company Zong for $240 million in cash. The transaction is expected to close in the third quarter of 2011 and is pending Chinese regulatory approval. According to a new Chinese regulation, foreign ownership is restricted in e-payment companies, so eBay might face some issues.
Zong provides a mobile payment platform through direct carrier billing. Consumers can easily pay for their … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chesapeake Plans $1B Gas Fund

Posted: 12 Jul 2011 10:55 AM PDT

Chesapeake Energy Corporation (NYSE:CHK) plans to form a $1 billion fund to invest in companies that build infrastructure or technology to increase the application of natural gas as a replacement to conventional gasoline and diesel.
Chesapeake, the second largest natural gas producer in the U.S. after Exxon Mobil Corporation (NYSE:XOM), has chalked out an extensive investment plan in varied natural gas ventures. All current and future investments will be routed through the newly formed Chesapeake NG … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Symantec Wraps Up Clearwell Deal

Posted: 12 Jul 2011 10:55 AM PDT

Leading computer security company Symantec Corp. (NASDAQ:SYMC) has closed the previously announced (May 22) acquisition of privately held legal discovery solutions provider Clearwell Systems Inc. Symantec had to pay $390.0 million (net of cash) for the deal.
Clearwell is now part of Symantec's Information Management Group. The eDiscovery solution of Clearwell complements and enhances Symantec's Enterprise Vault eDiscovery capabilities to create a more complete end-to-end eDiscovery solution. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down During The U.S. Session

Posted: 12 Jul 2011 10:45 AM PDT

Forex Pros – pros – The New Zealand Dollar was lower against the U.S. Dollar on Tuesday after the release of U.S. data on Trade Balance.<br/><br/> NZD/USD was trading at 0.8200, down 1.10% at time of writing.<br/><br/> The pair was likely to find support at 0.8112, today&rsquo;s low, and resistance at 0.8384, Friday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that The U.S. trade balance fell more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Schwab Downgraded To Underperform

Posted: 12 Jul 2011 10:35 AM PDT

We have lowered our long-term recommendation on Charles Schwab Corp. (NASDAQ:SCHW) to "Underperform" from "Neutral" based on continuous pressure on its net interest margin (NIM) due to a low interest rate environment.
Low interest rate environment continues to be a drag on Schwab's revenue as the company is highly sensitive to interest rates. Hence, until the economic recovery gains impetus and interest rates rise substantially, we expect the company to continue to experience pressure on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

POSCO Acquires Stake In Thainox

Posted: 12 Jul 2011 10:35 AM PDT

Korean steelmaker, POSCO (NYSE:PKX) recently announced it will acquire a stake in Southeast Asia’s largest stainless steel producer Thainox Stainless Pcl. for KRW305.9 billion or $287 million.
The company currently owns a 15.39% stake in the target company. POSCO will also obtain the additional stake of Mahagitsiri family for 2.20 baht per share.
POSCO proposes to buy the remaining stake between September and October in 2011.
However, Posco would terminate the tender if it is unable to get at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Call Buying Bulls Eye Guess Rally

Posted: 12 Jul 2011 10:27 AM PDT

Call buying bulls eye Guess rally
Today's tickers: GES, GT, WCRX & NWL
(NYSE:GES) – Guess, Inc. – Call options on the apparel retailer are on trend with bullish players positioning for shares in Guess to rally substantially by September expiration. September contract options, which are by far the most actively traded on GES this morning, expire after the company's August 25 second-quarter earnings report. Shares in the designer of contemporary apparel and accessories are currently down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Anticipating UK Employment Data In The Context Of Bearish GBP/USD

Posted: 12 Jul 2011 10:25 AM PDT

The GBP/USD pair extended its decline overnight reaching a low of 1.5775, the lowest level for the pair since January 26th. We had anticipated this weakness in the GBP/USD in an article a week ago.

Some Technical Observations of the Pair
While we are expereincing a nice pull back following our new lows, the overall picture for the pair remains quite bearish. Our medium term moving averages continues to point downward and the gap between the 21 (red) and 55  (blue) ema's is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“More People Looking…to Be Defensive”

Posted: 12 Jul 2011 10:17 AM PDT

07/12/11 Mogavero, Lee & Co.’s Doreen Mogavero weighs in on today’s trading session and overall market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Breaches NY Highs. 1.4042 Next Target. Looking For Follow Thru Momentum

Posted: 12 Jul 2011 10:11 AM PDT

Do you trust the market? The price squeezed above the NY high for the day at hte 1.40225 level and has reached a high of 1.40266. The price has dipped back below which makes you wonder if you can trust this market given the up and down choppiness today. Traders who are long seem to be happy to forego some profit at least should the market rotate back lower. Staying above 1.4007 should keep longs satisfied but fear a dip below may seen sub 1.4000 again.
On the topside, the close from yesterday … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Trade Deficit Soars In May

Posted: 12 Jul 2011 10:05 AM PDT

The Trade Deficit rose in May to $50.23 billion from $43.66 billion in April. The rise in the trade deficit is bad news for the economy, and the level is very dangerous.
For the month it was up 15.0%; worse than the $44.0 billion consensus expectation. On a year over year basis, the total trade deficit was up 19.1% from $42.17 billion a year ago.
The trade balance has two major parts: trade in goods and trade in services. America’s problem is always on the goods side; we actually routinely … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

McCormick Stays At Neutral

Posted: 12 Jul 2011 10:05 AM PDT

Recently, we reiterated our Neutral recommendation on McCormick & Company, Inc. (NYSE:MKC) with a target price of $52.00.
McCormick reported operating earnings of 55 cents in the second quarter of 2011, beating the Zacks Consensus Estimate of 54 cents.
The favorable operating income and the cost saving actions of McCormick helped register a robust 11.0% year-over-year increase in net income during the quarter to reach $73.6 million.
The significant upside in revenue was primarily due to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Slide Continues As Risk Aversion Gains Steam

Posted: 12 Jul 2011 10:00 AM PDT

07/12/11 The euro currency continued its slide today on growing eurozone debt crisis … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Lower; Dax Down 0.78%

Posted: 12 Jul 2011 09:55 AM PDT

Forex Pros – pros – European stocks were down after the closing bell on Tuesday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.78%, London&rsquo;s FTSE 100 shed 1.02%, France&rsquo;s CAC 40 declined 0.88% and the EURO STOXX 50 was down 0.58%.<br/><br/> Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was down 0.01%; the S&P 500 index gained 0.03%, while the Nasdaq 100 index … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aetna Joins With Shriners Hospital

Posted: 12 Jul 2011 09:50 AM PDT

Yesterday, Aetna Inc. (NYSE:AET) announced that it has entered into a three-year agreement with Shriners Hospitals for Children to expand the access of Aetna members in 16 states across the U.S. 
The contract, which will be effective from August 1, 2011, will enable Aetna to provide its members with covered services, at in-network rates, from across 20 Shriners Hospitals. Around 200 physicians at Shriners will expectedly participate in Aetna's plan.
In the first half of 2011, Aetna has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chevron 2Q To Ride Oil Price Wave

Posted: 12 Jul 2011 09:50 AM PDT

U.S.energy behemoth Chevron Corp. (CVX) released its second-quarter 2011 interim update, covering the first 2 months of the quarter. On the whole, the update is bullish, with earnings expected to be higher than the previous quarter.
The company expects results for the Exploration and Production arm to be buoyed by a rise in crude oil prices, partially offset by lower liftings. The San Ramon, California-based integrated major further added that second quarter refining and chemicals results would … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BofA Upgraded To Neutral

Posted: 12 Jul 2011 09:50 AM PDT

We have upgraded our long-term recommendation on Bank of America Corporation (NYSE:BAC) to "Neutral" from "Underperform". The rating change reflects management's decision to sell its non-core assets to further strengthen its balance sheet and bolster its capital base.
BofA had been trying to remove its non-core assets from its balance sheet for quite some time. On July 8, the company announced a deal to sell its Balboa Life Insurance Co. and Balboa Life Insurance Co. of New York to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Zacks Initiating Coverage Of Clean Diesel Technologies Inc [CDTI]

Posted: 12 Jul 2011 09:35 AM PDT

Ian Gilson, CFA
Zacks initiating coverage of Clean Diesel Technologies Inc. [CDTI]

Clean Diesel Technologies [CDTI] is a leading provider of pollution control solutions for gasoline and diesel engines. The company offers both OEM and after-market products on a worldwide basis. The company was formed by a merger in October 2010 between CDTI Merger Sub and CSI.

The company recently completed a 3 million share offering for $10 million.

Over the next three years significant on highway diesel … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FDA Approves Medtronic’s Study

Posted: 12 Jul 2011 09:35 AM PDT

Leading medical devices player, Medtronic (NYSE:MDT), has received conditional approval from the US Food and Drug Administration (FDA) for a US clinical trial called Symplicity HTN-3. The clinical trial will involve renal denervation with Symplicity catheter system for the treatment of resistant hypertension (high blood pressure that could not be controlled with drugs). The device has already been approved in both Europe and Australia.
The Symplicity HTN-3 study will assess the effectiveness … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Peripheral Selling Fizzles After Suspected ECB Purchases

Posted: 12 Jul 2011 09:10 AM PDT

U.S. and German yields erased declines to seven-month lows in trading symptomatic of any market mania worth its salt. The reversal came after European government debt traders grew suspicious that a tight-lipped ECB was busy buying Spanish and Italian paper days before an Italian auction that under currently tumultuous conditions could easily deter regular buyers from being the first to commit their capital.
European bond markets – Tuesday trading got off to an ugly start with peripheral bond … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Yum! Brands

Posted: 12 Jul 2011 09:05 AM PDT

Quick service restaurant company, Yum! Brands Inc. (NYSE:YUM) is slated to release its second quarter 2011 results on July 13, after the closing bell. The current Zacks Consensus Estimate for second quarter earnings is 61 cents per share on revenue of $2,694.0 million. 
Yum! Brands has outperformed the Zacks Consensus Estimate three times over the trailing four quarters, with earnings surprises varying in the range of a negative 1.56% to 7.41%. The average earnings surprise was 3.06%. This … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Universal Forest

Posted: 12 Jul 2011 08:55 AM PDT

Universal Forest Products Inc. (NASDAQ:UFPI) is slated to release its financial results for the second quarter of the fiscal year 2011 on Thursday, July 14. The current Zacks Consensus Estimate for earnings per share (EPS) is 15 cents, which represents a negative annualized growth of 78.21%.
With respect to earnings surprises over the trailing four quarters, Universal Forest lagged behind the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a negative 649.09%, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Textron In 5-Year Research Contract

Posted: 12 Jul 2011 08:55 AM PDT

AAI Unmanned Aircraft Systems ('UAS'), an operating unit of Textron Inc. (NYSE:TXT), has entered into a five-year agreement with the U.S. Army Research, Development and Engineering Command, Communications-Electronic Research, Development and Engineering Center ('CERDEC'). 
Under the cooperative research and development agreement (CRADA), AAI UAS and CERDEC will work together on various payloads for three classes of UAS — tactical, small and miniature, also known as Groups 1, 2 and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Montpelier Downgraded

Posted: 12 Jul 2011 08:55 AM PDT

We are downgrading our recommendation on Montpelier Re Holdings Ltd. (NYSE:MRH) to Underperform from Neutral given its exposure to catastrophe losses coupled with the current pricing environment in the primary insurance market and the stressed economy that is expected to restrict top-line growth.
Montpelier has substantial exposure to losses resulting from natural and man-made disasters and other catastrophic events, leading it to report an  operating loss in the first quarter. The last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Back Up Testing The Topside Intraday Resistance At 1.4007

Posted: 12 Jul 2011 08:47 AM PDT

U.S. Total Trade Surges To New Record High In May

Posted: 12 Jul 2011 08:43 AM PDT

Today’s monthly trade report showing an increase in America’s current account deficit to $50.2 billion in May was accompanied by the typical alarming media headlines such as: “U.S. Trade Gap Soars to 31-Month High in May,” “U.S. Trade Deficit Jumped in May,”and “U.S. May Trade Gap Widens to $50.2 Billion.”  

Here’s what probably won’t get widely reported:

1.  The total volume of U.S. international trade activity (exports + imports) reached an all-time record high in May (not … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Caterpillar Concludes Bucyrus Buy

Posted: 12 Jul 2011 08:35 AM PDT

Caterpillar Inc. (NYSE:CAT) has completed the biggest deal ever in its history, namely the $8.8 billion buyout of Bucyrus International Inc.
The deal capitalizes on the rising demand for coal and minerals triggered by growth in emerging nations.
In November last year, Caterpillar announced its intention to acquire Bucyrus, a South Milwaukee-based manufacturer of surface and underground mining equipment.
Money Matters
Caterpillar funded the $8.8 billion (including debt) acquisition through a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Illinois Tool Acquires Teknek

Posted: 12 Jul 2011 08:35 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) has recently acquired Teknek for an undisclosed amount. The world leader in contact sheet cleaning and web cleaning solutions will be integrated with ITW’s Electrostatics business platform, within the Electronics Group.
Teknek primarily serves the electronic and industrial markets where surface contamination is a major issue. Teknek’s contact cleaning technology (Nanocleen technology) is widely used in many critical processes such as printed circuit board … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UAL To Outperform

Posted: 12 Jul 2011 08:35 AM PDT

We are upgrading our long-term recommendation on United Continental Holdings Inc. (UAL) to Outperform from Neutral.
The largest U.S. airline is benefiting from industry consolidation and improved economic conditions. Though we remain concerned about escalating fuel prices, United Continental has successfully passed on higher costs to its customers in the form of fare hikes.
The company is also well prepared to combat rising fuel costs by reducing flight frequencies, indefinitely postponing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Alcoa Solid As New Earnings Season Kicks Off

Posted: 12 Jul 2011 07:45 AM PDT

07/12/11 Alcoa Inc. kicked off the new earnings season late Monday by posting a 2Q profit that more than doubled on higher sales at higher … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Martin Warner Builds Momentum At Michelmersh Brick

Posted: 12 Jul 2011 03:34 AM PDT

When Martin Warner brought Michelmersh Brick (LON:MBH) to the Alternative Investment Market in 2004, he had already built the business into the largest producer of handmade bricks in the UK. Since starting the business in the late 1990s, Warner and Chairman Eric Gadsden have built a portfolio of niche players supplying local markets and now oversee a group that owns most of the top-end brick makers in the country. Indeed, it was one of Michelmersh's divisions, Charnwood Forest Brick that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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