Friday, July 22, 2011

DailyMarkets.com - Blackstone Posts Upbeat 2Q

DailyMarkets.com - Blackstone Posts Upbeat 2Q


Blackstone Posts Upbeat 2Q

Posted: 22 Jul 2011 09:50 AM PDT

The Blackstone Group's (NYSE:BX) second quarter 2011 economic net income (ENI) of 63 cents per share substantially outpaced the Zacks Consensus Estimate of 34 cents, as well as the prior-year quarter's ENI of 18 cents.
ENI came in at $703.3 million for the reported quarter compared with $205.2 million in the year-ago quarter. The increase was primarily driven by an improved investment performance in all the segments.
The upbeat performance was aided by a strong revenue growth, improved equity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Alliance Data Beats, Raises Outlook

Posted: 22 Jul 2011 09:50 AM PDT

Alliance Data Systems Corporation (NYSE:ADS) reported adjusted earnings of $1.75 per share for second quarter 2011, substantially ahead of the Zacks Consensus estimate of $1.54. Results increased 27% year over year and exceeded the company’s guidance of $1.60. Adjusted net income for the quarter was $101.8 million, improving 30% from $78.6 million reported in second quarter 2010.
Including stock compensation expenses of $11.1 million, amortization of purchased intangibles of $19.2 million, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Honeywell Beats, Raises Guidance

Posted: 22 Jul 2011 09:20 AM PDT

Honeywell International Inc.'s (NYSE:HON) reported second-quarter 2011 earnings per share from continuing operations of $1.02, above the Zacks Consensus Estimate of 98 cents and prior-year earnings of 73 cents.
Total Revenue
Total revenue was $9.1 billion, below the Zacks Consensus Estimate of $9.2 billion for the quarter. Organically, total revenue was up 8% year over year, led by growth driven by new products, emerging-region growth and strong end-markets. Honeywell witnesses continued … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Xerox Exceeds Estimates In 2Q

Posted: 22 Jul 2011 09:20 AM PDT

Xerox Corporation (NYSE:XRX) reported a net income of $319 million or 22 cents per share in the second quarter of 2011 compared with $227 million or 16 cents per share in the year-ago quarter.
Reported earnings in the quarter included charges of $54 million or 4 cents per share related to the amortization of intangible assets and a loss of $20 million or 1 cent per share associated with early extinguishment of liability.
Excluding these charges, adjusted income of Xerox stood at $393 million or 27 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Hernia Suits Hurt C.R. Bard

Posted: 22 Jul 2011 09:20 AM PDT

Leading medical devices maker C. R. Bard's (NYSE:BCR) second-quarter fiscal 2011 adjusted earnings per share of $1.57 matched the Zacks Consensus Estimate and exceeded the year-ago earnings of $1.39. The results meet the top end of the company's guidance of $1.53 to $1.57.
Adjusted earnings exclude a lumpsum legal charge (of $195.5 million) associated with settlement of lawsuits related to the company's hernia repair product. Patients across the U.S. sued the company accusing that its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Rent-A-Center

Posted: 22 Jul 2011 09:20 AM PDT

Rent-A-Center Inc. (NASDAQ:RCII), one of the largest rent-to-own operators in the U.S., is scheduled to report its second-quarter 2011 financial results on Monday, July 25, 2011. The current Zacks Consensus Estimate for the quarter is 72 cents a share. For the quarter under review, revenue is $702 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, a Synopsis
On April 25, 2011, Rent-A-Center delivered lower-than-expected first-quarter 2011 results. The quarterly earnings of 79 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Wyndham Gets Billion Dollar Credit

Posted: 22 Jul 2011 09:05 AM PDT

Wyndham Worldwide Corporation (NYSE:WYN) recently announced the closure of a new $1 billion revolving credit facility. The new credit will facilitate in paying down the company's high-cost debt and extend its maturity period. The new facility will replace the existing $980 million facility and mature in July 2016. The previous facility would have matured in October 2013.
JPMorgan Chase & Co. (NYSE:JPM) and Bank of America Corporation (NYSE:BAC) acted as Joint Bookrunners for the new revolving … [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 Jul 2011 09:00 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of euro zone data on German Ifo Business Climate Index.<br/><br/> EUR/USD was trading at 1.4365, down 0.42% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4438, today&rsquo;s high.<br/><br/> Earlier in the day, data showed that Germany&rsquo;s Ifo business climate fell more-than-expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Schlumberger Sees Soaring Q2

Posted: 22 Jul 2011 08:50 AM PDT

The world's largest oilfield services provider Schlumberger Ltd. (NYSE:SLB) has reported second-quarter 2011 earnings of 87 cents per share (excluding special items), beating the Zacks Consensus Estimate of 85 cents. The quarter's results also improved from the year-earlier profit of 68 cents a share.
Income from continuing operations attributable to Schlumberger, excluding charges, was $1.18 billion—an increase of 45% year-on-year, helped by strong growth worldwide, along with the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Nash Finch’s Earnings Outperform

Posted: 22 Jul 2011 08:50 AM PDT

Nash Finch Company (NASDAQ:NAFC) reported second-quarter 2011 earnings (excluding one-time items) of $1.08 per share, easily beating the Zacks Consensus Estimate of 83 cents and the prior-year earnings of 84 cents per share. Net income from continuing operations climbed to $12.2 million from $11.4 million in the prior-year quarter.
The adjusted earnings in the second quarter of 2011 and 2010 were negatively affected by significant items of LIFO charges or credits, retail impairments, lease reserve … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/JPY Up Toward The End Of European Session

Posted: 22 Jul 2011 08:40 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Friday.<br/><br/> USD/JPY was trading at 78.39, up 0.10% at time of writing.<br/><br/> The pair was likely to find support at 78.23, Thursday&rsquo;s low, and resistance at 79.32, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.37% to hit 1.4371 and GBP/USD falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Caterpillar Profits Up, But Misses

Posted: 22 Jul 2011 08:35 AM PDT

Caterpillar Inc. (NYSE:CAT) posted a robust 44% increase in profit to $1.02 in the second quarter of the year from $707 million in the year-earlier quarter. Excluding $204 million of expense related to the acquisition of Bucyrus, earnings per share surged 58% to $1.72 from $1.09 a year ago. However, the company failed to meet the Zacks Consensus Estimate of $1.77 per share.
Sales in the quarter rose 37% to $14.23 billion from $10.41 billion a year ago driven by higher customer demand. However, it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Reform At Washington Post (revised)

Posted: 22 Jul 2011 08:35 AM PDT

Kaplan, a pioneer in education services and division of The Washington Post Company (NYSE:WPO), recently announced measures to tame the sluggishness prevailing over its higher education segment.

The measures include streamlining general and administrative operations, leading to the removal of administrative infrastructure and implementation of cost-effective operational constitution at its Higher Education division.

Further, the structural change will aid in optimum allocation of resources, thus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


General Electric Beats Estimates

Posted: 22 Jul 2011 08:35 AM PDT

General Electric Company (NYSE:GE) released its second quarter 2011 earnings results before the opening bell today, reporting earnings per share from continuing operation of 34 cents. This was above the Zacks Consensus Estimate of 32 cents and up 17% year over year.
This was the fifth consecutive quarter in which the company witnessed double-digit growth in earnings. Profits were primarily driven by strong demand internationally for heavy equipment including jet engines and electric … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Illinois Tool Works

Posted: 22 Jul 2011 08:35 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) is slated to release its second quarter 2011 results on Tuesday, July 26. The current Zacks Consensus Estimate for earnings per share (EPS) is $1.02, representing an annualized growth of 23.05%.  
With respect to earnings surprises, over the trailing four quarters, Illinois Tool outperformed the Zacks Consensus Estimate in two quarters, while underperforming in one quarter and was the same as the Zacks Estimate in another. The average earnings surprise was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Mindray Updates On New Products

Posted: 22 Jul 2011 08:35 AM PDT

Mindray Medical International Limited (NYSE:MR), a leading Chinese medical device company, recently disclosed updates for its product launches in the first half of the current fiscal year. A spokesperson for the company stated that Mindray is on target to introduce 7 to 10 new products during 2011.
During the first half, the company launched four products in its three segments. The newly introduced products include a defibrillator (BeneHeart D3), an advanced auto hematology analyzer (BC-6800), an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: GBPUSD Setting Up A Bull Flag Break?

Posted: 22 Jul 2011 08:31 AM PDT

The GBPUSD moved sharply up yesterday and has corrected less than 38.2% of the move up (low came in at the 1.6263 level which is above the 1.6254 Fibo retracement level).  The price is now looking to test the top end of what is a flag on the hourly chart at the 1.6321 level. A move above this top trendline should open the door for further upside momentum as the bull flag buyers enter. The high at the 1.6337 level becomes a confirming level to get through on a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Down Toward The End Of European Session

Posted: 22 Jul 2011 08:25 AM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Friday.<br/><br/> GBP/USD was trading at 1.6312, down 0.12% at time of writing.<br/><br/> The pair was likely to find support at 1.6006, Monday&rsquo;s low, and resistance at 1.6341, Thursday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.33% to hit 0.8804 and GBP/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Verizon Beats, Hires New CEO

Posted: 22 Jul 2011 08:05 AM PDT

The largest U.S. mobile service provider Verizon Communications (NYSE:VZ) declared its second quarter earnings results before the opening bell today. Adjusted earnings of 57 cents per share were two cents ahead of the Zacks Consensus Estimate and above the year-ago earnings of 51 cents.
Continued strength in the wireless segment and improved revenue trends in wireline led to higher-than-expected earnings in the quarter.
Total revenue grew 6.3% year over year to $27.54 billion surpassing the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AmSurg Revs Beat, Margin Lags

Posted: 22 Jul 2011 08:05 AM PDT

AmSurg Corp. (NASDAQ:AMSG) reported an EPS of 41 cents in the second quarter of fiscal 2011, in line with both the Zacks Consensus Estimate and the year-ago earnings. Results for the quarter included a negative impact of 1 cent related to the revision of the Medicare payment system for ambulatory surgical centers (ASCs), interest cost of 3 cents associated with the refinancing of the company's credit facility in May 2010 and higher effective tax rate. Acquisition transaction cost of 2 cents … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Reform At Washington Post (revised)

Posted: 22 Jul 2011 08:05 AM PDT

Kaplan, a pioneer in education services and division of The Washington Post Company (NYSE:WPO), recently announced measures to tame the sluggishness prevailing over its higher education segment.

The measures include streamlining general and administrative operations, leading to the removal of administrative infrastructure and implementation of cost-effective operational constitution at its Higher Education division.

Further, the structural change will aid in optimum allocation of resources, thus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Word From The Floor: US Stocks Mixed At Open On Earnings Reports

Posted: 22 Jul 2011 08:00 AM PDT

07/22/11 Wall Street opened lower, as key Dow components reported earnings. McDonald’s traded at an all-time high after Q2 earnings topped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Down During The European Session

Posted: 22 Jul 2011 08:00 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of euro zone data on German Ifo Business Climate Index.<br/><br/> EUR/USD was trading at 1.4365, down 0.42% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4438, today&rsquo;s high.<br/><br/> Earlier in the day, data showed that Germany&rsquo;s Ifo business climate fell more-than-expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/JPY Down In European Trading Hours

Posted: 22 Jul 2011 07:40 AM PDT

Forexpros – The British Pound was lower against the Japanese Yen on Friday.<br/><br/> GBP/JPY was trading at 127.63, down 0.19% at time of writing.<br/><br/> The pair was likely to find support at 126.67, Monday&rsquo;s low, and resistance at 128.42, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.22% to hit 1.6296 and EUR/GBP falling 0.25% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Heads Back Toward The 1.4360-69 Resistance Area

Posted: 22 Jul 2011 07:39 AM PDT

Support held against the trendline and 38.2 retracement level and the market has reversed and moved back higher. The price is now up testing the resistance area outlined in the earlier posts today at the 1.4360-69 area. The area remains a resistance level and also has the 38.2% of the move down from the high to the low today at the 1.4367 level.    Profit takers from the dip buyers may be happy to exit at the level, but should the price move above the 1.4369 level, the trend … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Remains Near $99

Posted: 22 Jul 2011 02:30 AM PDT

07/22/11 Crude prices continue to flirt with the $100 a barrel mark as a Greek aid deal, mixed data, and aid package skepticism has kept crude mostly flat this morning … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Leading Economic Index Increases In June

Posted: 22 Jul 2011 07:28 AM PDT

Despite a lot of uncertainties and concerns about a pending economic slowdown, the Conference Board reported yesterday that its Leading Economic Index (LEI) increased again in June, as part an upward trend in the index that started in April 2009 (see chart above).  The ongoing increases in the 10-variable composite economic forecasting index suggest that positive economic growth will continue this year, even if the rate of growth moderates, and the chances of a double-dip recession this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Up In European Trading Hours

Posted: 22 Jul 2011 07:20 AM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of Canadian data on Core Retail Sales.<br/><br/> USD/CAD was trading at 0.9516, up 0.87% at time of writing.<br/><br/> The pair was likely to find support at 0.9424, Thursday&rsquo;s low, and resistance at 0.9635, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Core retail sales in Canada rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Morning Market Brief

Posted: 22 Jul 2011 01:15 AM PDT

07/22/11 The latest in news, commentary, & information on what’s moving the US equities markets just before the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil, Gold Refocus On Global Economic Growth Concerns

Posted: 22 Jul 2011 04:08 AM PDT

Talking Points

Crude Oil Back on the Defensive After Caterpillar Earnings Disappoint
Gold and Silver Inch Higher as Post-EU Summit Optimism Dissipates

WTI Crude Oil (NY Close): $99.13 // +0.99 // +1.01%
Crude traded higher for much of the European session amid buoyant optimism in the aftermath of an unexpectedly bold announcement of measures to shore up the Euro Zone debt crisis following a summit of EU heads of state in Brussels. However, prices enter the final hours of the trading week on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Chris Winn Keeps The Tills Ringing At Sanderson

Posted: 22 Jul 2011 01:16 AM PDT

Earlier this month, Bamp;M Bargains, one of the UK's fastest growing retailers, signed a deal to buy all of the electronic point-of-sale technology for its 230 stores. The agreement marked the latest in a steady flow of similar contracts secured this year by AIM quoted software company Sanderson (LON:SND). For Sanderson's core client base in retail and manufacturing, the economic downturn has not been kind, but for executive chairman Chris Winn, there are an increasing number of reasons to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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