Thursday, July 7, 2011

DailyMarkets.com - BNY Mellon Closes Talon Deal

DailyMarkets.com - BNY Mellon Closes Talon Deal

BNY Mellon Closes Talon Deal

Posted: 07 Jul 2011 10:00 AM PDT

On Tuesday, Bank of New York Mellon Corporation (NYSE:BK) announced the completion of its acquisition of Chicago-based Talon Asset Management's wealth management arm, which presently has over $800 million in assets under management.
BNY Mellon had announced the deal in April but did not disclose the terms of the agreement. The company stated that the transaction does not include Talon's hedge fund and private equity businesses. The acquired unit will be integrated into the company's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Everest Announces Cat Loss Estimate

Posted: 07 Jul 2011 10:00 AM PDT

Bermuda-based reinsurer Everest Re Group Ltd. (RE) has announced its estimate of April-May catastrophe losses (cat losses) based on property damages resulting from cataclysmic weather conditions.
Everest Re, as a property catastrophe writer, expects after-tax cat losses of $80 million from a series of severe storms that ravaged the U.S. in the months of April and May, along with the wildfires in Alberta, Canada. Everest Re stated that the estimates include updated provisions for first quarter … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Affymetrix’s 2Q Prelim Sales Miss

Posted: 07 Jul 2011 09:35 AM PDT

Genetic products maker Affymetrix Inc (NASDAQ:AFFX) has announced disappointing preliminary sales for second-quarter fiscal 2011. The California-based company expects to post revenues in the band of $64-65 million for the quarter, which is below the current Street view of roughly $74 million.
Affymetrix's shares tanked $1.55 (or 19.4%) to $6.45 in after-hours trading on July 6. The company is expected to report final results for the second quarter after the closing gong on July 27.
Affymetrix … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SurModics Cut To Neutral

Posted: 07 Jul 2011 09:35 AM PDT

We are downgrading SurModics (NASDAQ:SRDX) to Neutral from Outperform following its setback, when partner Johnson & Johnson (NYSE:JNJ) announced in June 2011 that it will stop manufacturing Cypher and Cypher Select Plus sirolimus-eluting coronary stents by year-end.
SurModics receives royalties on sales of the product. The news impacted SurModics' shares negatively. We too have slashed our earnings estimate for fiscal 2012 by $0.08 per share. However, management at SurModics is not too perturbed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Claims Fall, Stay Above 400K

Posted: 07 Jul 2011 09:35 AM PDT

Initial Claims for Unemployment Insurance fell by 14,000 last week to 418,000. This was better than the expected level of 425,000. Last week's numbers were revised upwards by 4,000, so one could see it as a decline of just 10,000.

The trend in initial claims had downward, although there were some bumps along the way. Recently they seem stuck once again in a trading range above the 400,000 level. That is a very worrisome trend.

This is the 13th straight week we have been above the 400,000 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Peet’s Introduces Light Freddo

Posted: 07 Jul 2011 09:04 AM PDT

The coffee roaster and retailer Peet's Coffee & Tea Inc. (NASDAQ:PEET) has launched a new blended iced coffee beverage called – Light Freddo.
As the name says, the new Light Freddos of Peet's will have 50% lower calories than the regular Freddos. Despite that, Peet's did not compromise on the richness, creaminess and smoothness of Freddos for which the Freddos are popular. Moreover, the new version offers the same taste and coffee flavor of the regular Freddos.
Further, the rates for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests Intraday Support Area

Posted: 07 Jul 2011 08:59 AM PDT

The EURUSD held resistance against the 1.4373 resistance trendline and rotated back down. The move down has stalled at the 1.4339-44 area which was resistance from earlier today (see chart below). A move below this areaa is needed for further selling to ensue with 1.4314 he next target (38.2% of the move … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: AUD/USD Resumes Bullish Stance After Triangle Breakout

Posted: 07 Jul 2011 08:47 AM PDT

AUD/USD (daily chart) as of Thursday (7/07/2011) has resumed its bullish stance after breaking out above a key descending triangle consolidation pattern, hitting strong resistance around the 1.0780 price region, and then pulling back to 1.0650 support right around the 50-period simple moving average. This breakout-pullback-resumption is a technical price move that hints at potential further bullishness to come. This occurs within the context of a long-term uptrend for the pair. In the event … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Itron Installs ChoiceConnect

Posted: 07 Jul 2011 08:35 AM PDT

Itron Inc. (NASDAQ:ITRI) recently announced the completion of the installation of more than 150,000 Itron gas meter communication modules in Greater Houston for a natural gas distribution subsidiary of CenterPoint Energy Inc. (NYSE:CNP). The project will include a total of 1.2 million communication modules and will be completed by 2013.
These meters can effectively do away with the necessity of entering the premises of customers to take the readings manually. These communication modules employ the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Mindray Acquires Hyssen Of China

Posted: 07 Jul 2011 08:35 AM PDT

Mindray Medical International Limited (NYSE:MR), a leading Chinese medical devices company, recently forged an agreement to take a controlling stake in Suzhou Hyssen Electronics Co. Ltd (“Hyssen”). The transaction will not affect Mindray's financial results. The company did not reveal the terms of the deal. Hyssen, based in Suzhou, China, is a leader in automated urine sediment analyzers in the domestic market.
Urine sediment, along with dry chemistry analysis, constitutes urinalysis. Urine … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

WPPGY: JWT To Acquire Mindset

Posted: 07 Jul 2011 08:35 AM PDT

Advertising titan, WPP plc's (NASDAQ:WPPGY) wholly-owned subsidiary, JWT has consented to acquire a majority stake in India's advertising agency, Mindset Advertising Private Limited. Financial terms of the transaction were not disclosed.
Mindset is one of the highly recognized advertising agencies in India and was founded in 1998 in Hyderabad. The agency provides creative services, strategic planning and campaign execution in digital, print and television media.
The agency generated roughly Rs … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

What’s Next For Oil?

Posted: 07 Jul 2011 08:17 AM PDT

Today’s Idea Thursday, July 7, 2011
Crude Oil has bounced back, after falling to levels that could be seen as oversold and too low near the 90.00 level. Traders are now left with the question of where prices are heading over the near-term. Fundamentals are a mixed bag for Oil traders, so the inventory report today and the non-farm number tomorrow will be closely watched by many traders to set a near-term direction. Technically, the bull camp has the edge in recent trading, but the bulls’ … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Hold On To Gains After U.S. EIA Inventory Data

Posted: 07 Jul 2011 08:12 AM PDT

Forex Pros – pros &ndash; Crude oil futures maintained gains on Thursday, trading near a three-week high after a government report showed that U.S. crude oil inventories fell less-than-expected last week, while gasoline stockpiles declined unexpectedly.<br /><br />On the New York Mercantile Exchange, light sweet crude futures for delivery in August traded at USD98.98 a barrel during U.S. morning trade, jumping 2.4%.&nbsp; <br /><br />It earlier rose as much as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Wall Street Higher On Jobs Data

Posted: 07 Jul 2011 08:01 AM PDT

07/07/11 US stocks opened with a strong advance on better-than-expected employment … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rally Off Weekly Confluence Support Shows Bullish Strength In Triple Index Check

Posted: 07 Jul 2011 07:59 AM PDT

I'm assuming most traders were surprised at the recent power-rally in the US Equity Markets recently.
However, taken into the larger context or perspective, this rally formed off major "Make or Break" Confluence Support as best seen on the Weekly Chart.
What started as a simple "retracement" buy-in has ignited a powerful "Positive Feedback Loop" that morphed into a powerful Short-Squeeze.
Here – let's take a moment to see the three major US Equity Indexes on their Weekly … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower After Trichet, U.S. Jobs Data

Posted: 07 Jul 2011 07:50 AM PDT

Forex Pros – The U.S. dollar gave up gains against most of its major counterparts on Thursday, after remarks by European Central Bank President Jean-Claude Trichet and better-than-expected U.S. jobs data boosted demand for higher-yielding assets.<br /><br />During early U.S. trade, the greenback was lower against the euro, with EUR/USD climbing 0.28% to hit 1.4359.<br /><br />The ECB raised its key lending rate to 1.5% from 1.25% earlier in the day. <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Tumble To 3-month Low After U.S. EIA Data

Posted: 07 Jul 2011 07:44 AM PDT

Forex Pros – pros &ndash; Natural gas futures extended losses on Thursday, tumbling to a three-month low after the U.S. Energy Information Administration said natural gas inventories rose more-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for August delivery traded at USD4.101 per million British thermal units during U.S. morning trade, tumbling 3%.&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />It earlier fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Breaks Above The Resistance. 1.4373 Next Target Area For The Pair

Posted: 07 Jul 2011 07:37 AM PDT

The next target  is the 1.4373 level which is the 61.8% of the move down from yesterdays NY peak.  It is also is a corrective peak from yesterdays trade (see chart below). On the downside a move back below the 1.4340 would be indicative of a potential top in place.  The EURUSD has been squeezing higher post the Trichet speech.

Above that level the 1.4386 to 91 are resistance. The 1.4386 level is the 50% retracement of the move doen from the July 5th high price.  (see chart … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Trims Losses But Remains Under Pressure

Posted: 07 Jul 2011 07:30 AM PDT

Forex Pros – pros &ndash; The pound pulled back from a seven-day low against the U.S. dollar on Thursday, but gains were limited amid speculation that the Bank of England might consider more monetary easing in a bid to support the U.K. economic recovery.<br /><br />GBP/USD pulled back from 1.5943, the pair&rsquo;s lowest since June 28, to hit 1.5980 during early U.S. trade, still down 0.14% on the day.<br /><br />Cable was likely to find support at 1.5910, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Ease Off 2-week High After ECB, U.S. Jobs Data

Posted: 07 Jul 2011 07:27 AM PDT

Forex Pros – pros &ndash; Gold futures edged lower on Thursday, easing off a two-week high after the European Central Bank raised its benchmark interest rate, while upbeat U.S. jobs data eased concerns over U.S. economic growth. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,527.25 a troy ounce during U.S. morning trade, easing down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Setting Up To Retest Record High; Flat Correction Scenario

Posted: 07 Jul 2011 07:26 AM PDT

AUD/USD

- The AUD/USD is consolidating after a strong swing from 1.0440 area that was developed in a 5-wave or motive-wave manner.
- The RSI shows the bullish momentum intact.
- It looks like we completed a 3-swing correction and could be ready for a bullish continuation.
- The employment data in the Asian session beat expectations, cranking out 23.4K jobs instead of the expected 15.2K.
- However, if we find resistance, then a break back below 1.0733, we are still in consolidation, although … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Trades Above $97

Posted: 07 Jul 2011 07:15 AM PDT

07/07/11 Front month crude prices continued to rise this morning following a decline in the API report late … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Strong ADP Report Blows Bonds Away

Posted: 07 Jul 2011 06:59 AM PDT

The major catalyst in government bond markets has come not in response to the outcomes of various central bank meetings in Europe, but instead from the United States where a private report showed an unusually robust reading of jobs growth. Government bond yields marched higher but more notably so in the world's largest economy with dealers now hopeful that the underlying anemic tone to the labor market will suddenly improve in an official government report on Friday.
European bond markets – … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 07 Jul 2011 01:15 AM PDT

07/07/11 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

Faroe Petroleum Begins Drilling Fulla Exploration Well

Posted: 07 Jul 2011 01:31 AM PDT

Oil and gas group Faroe Petroleum (LON:FPM) said this morning that drilling operations were under way on the Fulla exploration prospect, located in the west of Shetland area of the Atlantic margin. This west of Shetlands well, located to the north east of the producing Clair oil field, is targeting potentially oil-bearing Devonian Clair reservoir sands at a depth of 2,100 metres. Faroe has a 50% stake and operatorship of the well which is being drilled by the WilPhoenix semi-submersible … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CHF Daily Fundamental Analysis For July 08, 2011

Posted: 06 Jul 2011 08:47 PM PDT

By ForexMansion.com
The USD/CHF fluctuated on Thursday and was generally biased to the upside as inflation rise in Switzerland was not sufficient to prompt expectations for SNB rate increase and the eased jitters in the market unwound some haven demand on the pair.
The ECB's decision to suspend the minimum credit-rating threshold on Portuguese government debt which is used as collateral in the refinancing operations as the ECB is confident in their financial program and their commitment to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Daily Fundamental Analysis For July 08, 2011

Posted: 06 Jul 2011 08:46 PM PDT

By ForexMansion.com
The GBP/USD continues to fluctuate on Thursday and generally was biased to the downside after the BoE left the monetary policy unchanged again in July, depriving sterling from support.
The MPC voted to keep rates and the APF steady on Thursday again, leaving the sterling weak among its major counterparts. The pound was slightly supported by the rise in industrial and manufacturing production in May, yet in general the dollar held grounds most of the day with haven demand and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Daily Fundamental Analysis For July 08, 2011

Posted: 06 Jul 2011 08:46 PM PDT

By ForexMansion.com
The euro continued to fluctuate on Thursday ahead of the rate decision and was finally supported to the upside with the decision from the ECB to suspend the collateral requirements for Portuguese bonds, helping the euro recover some of the week's losses.
The ECB raised rates and Trichet said the ECB will continue to monitor developments closely and upside risks to inflation remain, signaling the readiness to act again and room for the bank to move again on rates this year. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Daily Fundamental Analysis For July 08, 2011

Posted: 06 Jul 2011 08:44 PM PDT

By CommoditiesMansion.com
Thursday was not as much of a positive day for gold with slowing haven demand on eased jitters, which stripped the metal of upside support.
On Thursday market jitters eased with the ECB's decision to suspend the minimum credit-rating threshold on Portuguese government debt which is used as collateral in the refinancing operations as the ECB is confident in their financial program and their commitment to austerity measures, boosted confidence in the market and eased … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
at

No comments:

Post a Comment