Tuesday, July 19, 2011

DailyMarkets.com - Earnings Preview: Nokia

DailyMarkets.com - Earnings Preview: Nokia


Earnings Preview: Nokia

Posted: 19 Jul 2011 07:40 AM PDT

Nokia Corporation (NYSE:NOK), the world's largest mobile phone maker, is slated to release its second quarter 2011 results on Thursday, July 21, before the opening bell. The current Zacks Consensus Estimate for the second quarter is pegged at 2 cents, representing an annualized negative growth of 83.85%.
With respect to earnings surprises over the trailing four quarters, Nokia has outperformed the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a positive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


IBM Reports A Stellar Quarter

Posted: 19 Jul 2011 07:40 AM PDT

International Business Machines Corp. (IBM) reported stellar second quarter 2011 results, with earnings per share (EPS) comprehensively beating the Zacks Consensus Estimates by 8 cents (2.7%). IBM shares also rose modestly (1.69%) in after hours trading.
Operating Performance
IBM posted non-GAAP EPS of $3.09 per share in the second quarter, up 18.0% on a year-over-year basis and representing double-digit growth in 16 of the last 18 quarters. The significant upside was primarily driven by solid … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


European Debt Has Traders Going For The Gold

Posted: 19 Jul 2011 07:18 AM PDT

Tuesday July 19, 2011
It seems as though the stars have lined up for the Gold market. Economic conditions in the US and debt concerns in Europe have traders on the defensive. Also, these issues have tied the hands of central banks to combat inflationary pressure, as inflation has moved to the back burner. Technically, the breakout to new all-time highs has emboldened market technicians. Because the market is reaching new heights, some traders may prefer entering into an option strategy with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


SNWV Hits Another Milestone

Posted: 19 Jul 2011 07:05 AM PDT

SNWV Hits Another Milestone – CPT III Codes Released

SANUWAVE (SNWV) continues to make progress with commercialization of its flagship device for the treatment of diabetic foot ulcers (DFU).  Just last week the company announced that they had made the third and final module filing to the FDA for dermaPACE in DFU.  Also announced was additional positive data from their Phase III IDE study that was used to support the regulatory filing.   

This morning SANUWAVE followed up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Safeway

Posted: 19 Jul 2011 07:05 AM PDT

A leading food and drug retailer in North America, Safeway (NYSE:SWY) is scheduled to report its second quarter 2011 results on Thursday, July 21, 2011. The company is expected to report EPS of 39 cents on revenues of $9.9 billion during the quarter, according to Zacks Consensus Estimates.
Barring the first quarter of fiscal 2011, Safeway has exceeded the expectations in three out of the trailing four quarters. The company's average earnings surprise is positive 5.19%.
Previous Quarter … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Finds Profit Takers At 1.4182 Intraday Ceiling Area

Posted: 19 Jul 2011 07:02 AM PDT

The EURUSD has continued the move higher and approaches the 1.4182 level where there was intraday ceiling resistance earlier in the London/early NY session. THe 1.4190 level is also resistance and also the 1.4196 level. 1.4161 remains support. If the price remains above this level, the bulls remain in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


BOC Removes “Eventually” From When To Withdraw Monetary Stimulus, CAD Gains

Posted: 19 Jul 2011 07:00 AM PDT

Sometimes all it takes is the removal of a single word from an interest rate statement to give the market what it wants, in this case it was the removal of the phrase "eventually" from the key sentence in the BOC statement:
"To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn, consistent with achieving the 2 per cent … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: Allstate, Bank Of America, Check Point Software Technologies Ltd., Entropic Communications, J P Morgan Chase & Co, MGIC Investment, Nabi Biopharmaceuticals, Pharmaceutical Product Development, Valence Technology

Posted: 19 Jul 2011 07:00 AM PDT

    Shares of biotech company Bacterin International Holdings Inc (AMEX:BONE) gained 10.34% after the company posted initial second quarter earnings figures that came in above expectations

    U.S. listed shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) rose 8.11% after the network security provider released 2011 earnings forecasts exceeding the Street’s expectations

    According to a report in The Wall Street Journal, contract drug … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: EMC Corp.

Posted: 19 Jul 2011 07:00 AM PDT

EMC Corp.(NYSE:EMC) is scheduled to announce its second quarter 2011 results before the opening bell on July 20, 2011.
Prior Quarter Recap
EMC Corp. reported first quarter 2011 adjusted earnings per share (EPS) of 24 cents, up 20.0% from 20 cents posted in the first quarter of 2010.
However, earnings per share (including stock-based compensation but excluding restructuring charges and intangible asset amortization) fell shy of the Zacks Consensus Estimate by a penny.
Revenues increased 18.4% year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Extends Gains After Strong U.S. Housing Dat

Posted: 19 Jul 2011 07:00 AM PDT

Forexpros – Crude oil futures extended gains on Tuesday, jumping to a three-day high after stronger-than-expected U.S. housing data boosted future demand expectations from the world&rsquo;s largest oil consumer.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD98.61 a barrel during U.S. morning trade, rallying 2.37%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


NZD/USD Breaks Above Long-term Channel Resistance; Swing Projection Targets 0.8780

Posted: 19 Jul 2011 06:55 AM PDT

Prev: NZD/USD Completes a Rising Wedge with Extended Bearish Divergence (7/14)
NZD/USD

Breakout:
- The NZD/USD recently completed a rising wedge with a throw-over. After the 5-wave structure, the market looked in position for a correction.
- However, the market never gave a bearish signal and instead followed a congestion period with further bullish breakout, confirming the upside break of the rising wedge.
- The daily chart also shows the market cracking above long-term channel (going back … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: New York Times

Posted: 19 Jul 2011 06:40 AM PDT

The New York Times Company (NYSE:NYT), one of the leading diversified media company, is scheduled to report its second-quarter 2011 financial results on July 21, 2011. The current Zacks Consensus Estimate for the quarter is 10 cents a share. For the quarter under review, the Zacks Consensus Estimate projects the revenues to be $579 million.
First-Quarter 2011, a Synopsis
The New York Times Company posted lower-than-expected first-quarter 2011 results, reflecting sagging advertising and circulation … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Euro Pares Gains; Loonie Gains On Commentary From Bank Of Canada

Posted: 19 Jul 2011 06:40 AM PDT

The European Euro, as well as the commodity currencies, was bid higher in the overnight session against the U.S. Dollar and other safe havens as it appeared European Union officials were moving towards a resolution aimed at containing the region's sovereign debt crisis. Indeed, Euro-optimism was prevalent in the overnight session, with the currency bloc gaining 0.71 percent against the Swiss Franc, 0.33 percent against the U.S. Dollar and 0.31 percent against the Japanese Yen, at the time … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Hits 11-week Low After BoC Rate Decision

Posted: 19 Jul 2011 06:37 AM PDT

Forexpros – The U.S. dollar was down against its Canadian counterpart on Tuesday, dropping to an eleven-week low after the Bank of Canada signaled that it could raise rates in the near-term to counter accelerating inflation. <br /><br />USD/CAD hit 0.9491 during U.S. morning trade, the pair&rsquo;s lowest since May 3; the pair subsequently consolidated at 0.9499, tumbling 1.03%.<br /><br />The pair was likely to find support at 0.9457, the low of May 3 and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Apple Inc.

Posted: 19 Jul 2011 06:31 AM PDT

Apple Inc.(NASDAQ:AAPL) is scheduled to announce its third quarter 2011 results after the closing bell today. Over the past few days, we have noticed analysts increasing their estimates, but considering the past trends we continue to believe another earnings beat is on the cards.
Prior Quarter Recap
Apple's second quarter 2011 earnings and revenues surpassed the Zacks Consensus Estimate handsomely on the back of strong iPhone sales, record Mac sales and increased iPad sales, as unit shipments … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Roche To Acquire Germany’s Mtm Labs

Posted: 19 Jul 2011 06:31 AM PDT

Roche Holdings Ltd. (RHHBY) recently inked an agreement under which it will acquire Germany-based mtm laboratories AG. Following the completion of the acquisition, mtm labs will become a part of Roche's Tissue Diagnostics business unit.
According to the terms of the acquisition, Roche will make an upfront payment of about €130 million to mtm shareholders, along with payments of about €60 million on the achievement of certain performance-based milestones.
Mtm labs' product portfolio … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


USD/JPY Testing 78.88 Support Of A Narrow Short-term Range

Posted: 19 Jul 2011 06:29 AM PDT

Prev: Looking for Range Breakout in USD/JPY (7/15)
USD/JPY

- The USD/JPY has been in a very narrow range between 78.88 and 79.27.
- We know that heading into this range, we had a 5-wave decline that established bearish momentum. The 1H RSI reading dipped below 30, and since has not broke above 60, suggesting bearish bias.
- IF the USD/JPY closes below 78.85 with a strong bearish candle, it is likely to retest the 78.50 low in the near term, and basically test a larger range support.
- The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Finds Profit Takers Against The 100 Hour MA

Posted: 19 Jul 2011 06:19 AM PDT

The price fell below the 1.4148 level on the Merkel dampening comments (see prior post) and moved lower on the break.  However, the price quickly found support buyers/profit takers against the 100 hour MA at the 1.4136 level.  The area also has the 38.2% retracement of the move up from yesterdays low at the 1.4139 level, and the 200 hour MA at the 1.4142 level as reasons to buy (risk defined).  So although the price has moved lower from the highs, the price ability to hold above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR/USD Tests 1.42 With A Swing Projection Target To 1.4450

Posted: 19 Jul 2011 06:13 AM PDT

Prev: EUR/USD's Technical Setup Ahead of the ZEW Release (7/19)
EUR/USD

- Higher stocks and lower periphery yields helped boost the EUR/USD, but the poor ZEW releases have at least been stalling the bulls below the 1.42 pivot.
- The break below 1.4095 as a bearish signal was immediately invalidated by a bullish candle just as strong.
- The market then broke above 1.4130, which was an important resistance for the European session. It also broke above the 200SMA and closed the bearish gap … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Euro Gains On Swiss Franc But Downside Risks Remain

Posted: 19 Jul 2011 06:10 AM PDT

Forexpros – The euro advanced to a four-day high against the Swiss franc on Tuesday, as a rebound in equities bolstered market sentiment but the single currency remained vulnerable as markets began to focus on an emergency summit of euro zone leaders later in the week.<br /><br />EUR/CHF hit 1.1658 during European afternoon trade, the pair&rsquo;s highest since July 13; the pair subsequently consolidated at 1.1601, gaining 0.55%.<br /><br />The pair was likely to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Bank Of Canada Leaves Interest Rate Unchanged At 1.00%

Posted: 19 Jul 2011 06:09 AM PDT

Forexpros – The Bank of Canada left its benchmark interest rate unchanged in July, it announced on Tuesday.<br /><br />In a statement, the bank said it was leaving its overnight cash rate unchanged at 1.00%, broadly in line with expectations.<br /><br />According to the BoC, the global economic recovery was proceeding broadly as expected in the bank&rsquo;s April Monetary Policy Report, with modest growth in major advanced economies and robust expansions in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: ITT Educational

Posted: 19 Jul 2011 06:05 AM PDT

ITT Educational Services Inc. (NYSE:ESI), one of the leading providers of technology-based post-secondary degree programs in the U.S., is scheduled to report its second-quarter 2011 financial results before the opening bell on July 21, 2011. The current Zacks Consensus Estimates for the quarter is earnings of $2.64 a share. For the quarter under review, revenue is expected at $378.0 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, Summary
ITT Educational’s first-quarter 2011 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Fall On Merkel Comments. Finds Support Against MA Support Intraday

Posted: 19 Jul 2011 05:59 AM PDT

German Chancellor Merkel commented that the solution for Greece on Thursday will not be spectacular and this has sent the EURUSD down to test the 100 bar MA on the 5 minute chart. The market has used this moving average and the 200 bar MA as levels for defining trade risk this week. The current 100 bar MA comes in at the 1.4148 level and that is where the price has bottomed. A break is needed to change the bias for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Futures Higher With Key Earnings In Focus; Dow Up 0.7%

Posted: 19 Jul 2011 05:41 AM PDT

Forexpros – U.S. stock futures pointed to a higher open on Tuesday, as investors turned their attention to earnings reports from economic bellwethers such as Bank of America, IBM and Coca Cola, while better-than-expected housing data also boosted sentiment. <br /><br />Dow Jones Industrial Average futures pointed to a gain of 0.7%, the S&amp;P 500 futures climbed 0.75%, while the Nasdaq 100 futures indicated a 0.95% gain.<br /><br />Stock futures added to gains … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Egan-Jones Officially Cuts U.S. Credit Rating

Posted: 19 Jul 2011 05:40 AM PDT

Cutting a credit rating is significantly different that placing it on 'watch' or 'under review'.
Most readers are likely fully aware that Standard and Poor's and Moody's have sent out serious warning signals about the potential downgrade of the United States AAA credit rating.
That said, another SEC officially recognized ratings entity has gone one step further and actually lowered Uncle Sam's standing by one notch.
What firm is so bold and brazen to send this volley across … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Building Permits Rise Unexpectedly In June

Posted: 19 Jul 2011 05:38 AM PDT

Forexpros – The number of building permits issued in the U.S. rose unexpectedly in June, official data showed on Tuesday. <br /><br />In a report, the U.S. Census Bureau said the number of building permits issued in June rose 2.5% to a seasonally adjusted 0.62 million, up from 0.61 million in May.<br /><br />Analysts had expected building permits to decline 2.3% to 0.6 million in June.<br /><br />U.S. housing starts surged 14.6% in June to hit a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Foster Wheeler & SOCAR Form JV

Posted: 19 Jul 2011 05:35 AM PDT

Foster Wheeler AG's (NASDAQ:FWLT) subsidiary, Global Engineering and Construction Group, entered into a joint venture agreement with The State Oil Company of Azerbaijan Republic (SOCAR) in the Republic of Azerbaijan. As per the Memorandum of Understanding (MoU) signed by the companies, a jointly-owned company will be formed.
A state-owned company, SOCAR works in the fields of oil and gas exploration, production, transportation and marketing. SOCAR plans to construct an oil, gas processing and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: PPG Industries Inc.

Posted: 19 Jul 2011 05:35 AM PDT

PPG Industries Inc. (NYSE:PPG) announced that it would release its results for the second quarter of 2011 before the market opens on July 21, 2011.
PPG Industries posted a net income of $228 million or $1.40 per share in the first quarter of 2011 compared with $115 million or 69 cents in the year-ago quarter. The results surpassed the Zacks Consensus Estimate of $1.34 per share. In the upcoming quarter, the Zacks Consensus Estimate for PPG Industries is pegged at a profit of $2.01 per share, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Stays Broadly Lower As Euro Fears Ebb

Posted: 19 Jul 2011 05:27 AM PDT

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Tuesday, as a rebound in equities bolstered market sentiment ahead of an emergency summit of European Union leaders later in the week.<br /><br />During European afternoon trade, the greenback was weaker against the euro, with EUR/USD climbing 0.40% to hit 1.4168.<br /><br />The single currency found support as yields on Italian and Spanish government bonds retreated slightly after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


JDS Uniphase Reverts To Neutral

Posted: 19 Jul 2011 05:05 AM PDT

We upgrade our recommendation on JDS Uniphase Corp. (NASDAQ:JDSU) to Neutral based on its current valuation. Recent trends in the global optical component industry indicate a glut of inventory on the part of the telecom carriers. The North American and European markets are yet to completely recover from the recession. Meanwhile, several industry players indicated that China may not be able to fully compensate the loss of the developed markets.
Moreover, the devastating earthquake and tsunami in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Holds Gains But Upside Limited

Posted: 19 Jul 2011 04:46 AM PDT

Forexpros – The pound held gains against the broadly weaker U.S. dollar on Tuesday, but the upside was limited as markets remained cautious ahead of an emergency summit of European Union leaders later in the week.<br /><br />GBP/USD hit 1.6160 during European afternoon trade, the pair&rsquo;s highest since July 15; the pair subsequently consolidated at 1.6122, gaining 0.41%.<br /><br />Cable was likely to find support at 1.6004, Monday&rsquo;s low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


EUR Rallies On Higher Stocks, Lower Periphery Yields, Spain Auction, Nowotny Comments

Posted: 19 Jul 2011 04:40 AM PDT

The Euro rebounded today, as equities in Europe rallied on the back of strong profits from Novartis, and we had positive results from IBM helping US futures as well as commodities, bringing some risk appetite to the market.
The AUD, GBP as well as the EUR were stronger versus our safe haven currencies.
Here's a quick round-up of the important stories as they pertain to the EUR.
1. Spain Debt Auction
Spain sold 4.4 billion euro ($6.2 billion) of 12- and 18-month T-bills, which was close to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Extends Gains But Remains Vulnerable

Posted: 19 Jul 2011 04:09 AM PDT

Forexpros – The euro extended gains against the U.S. dollar on Tuesday, but remained vulnerable amid uncertainty ahead of an emergency summit of European Union leaders to discuss a second bailout for Greece.<br /><br />EUR/USD hit 1.4217 during European early afternoon trade, the pair&rsquo;s highest since July 14; the pair subsequently consolidated at 1.4182, gaining 0.50%.<br /><br />The pair was likely to find support at 1.4013, Monday&rsquo;s low and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Corn Futures Rise As Warm Weather Threatens U.S. Crops

Posted: 19 Jul 2011 03:37 AM PDT

Forexpros – Corn futures advanced on Tuesday, hovering below a three-week high as warmer-than-normal weather in key corn growing states in the U.S. added to concerns over deteriorating crop conditions, while a weaker U.S. dollar also lent support. <br /><br />On the Chicago Mercantile Exchange, corn futures for September delivery traded at USD7.0762 a bushel during European morning trade, jumping 1.54%. <br /><br />It earlier rose as much as 1.7% to trade at USD7.0862 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Jim Cramer: “The SEC Isn’t Watching The Store”

Posted: 19 Jul 2011 03:34 AM PDT

I will readily admit I am not a big fan of CNBC's Jim Cramer. Perhaps it is more Jim Cramer's style than his substance but for whatever reasons, I very rarely watch his show or follow his work.
I will also readily admit I am a HUGE fan of Themis Trading's Joe Saluzzi. Based upon both his style and his substance, Joe Saluzzi and team at Themis Trading were long ago inducted into the Sense on Cents Hall of Fame.
While a fan of Joe and less of Jim, how uncanny that I am here this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Hits 4-day High As Risk Aversion Eases

Posted: 19 Jul 2011 03:21 AM PDT

Forexpros – The U.S. dollar rose to a four-day high against the Swiss franc on Tuesday, as risk aversion eased after a rebound in equities bolstered market sentiment and curbed safe haven demand.<br /><br />USD/CHF hit 0.8234 during European late morning trade, the pair&rsquo;s highest since July 13; the pair subsequently consolidated at 0.8198, gaining 0.29%.<br /><br />The pair was likely to find support at 0.8079, the low of July 14 and the pair&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Does A Lender Have To Honor A Rate Quote In Raleigh?

Posted: 19 Jul 2011 03:16 AM PDT

… [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Capital Pub Company Cheers Greene King Takeover Offer

Posted: 19 Jul 2011 01:01 AM PDT

AIM listed pub operator Capital Pub (LON:CPUB) has recommended that its shareholders back a 235p per share takeover of the company by FTSE 250 rival Greene King (LON:GNK). The move follows several months of speculation over a possible deal involving Capital Pubs, including two rejected offers of 175p and 200p from another pub group, Fuller Smith Turner (LON:FSTA). In early trading this morning shares in Capital Pubs jumped by 26p to 236.5p; Greene King gained 2.70p to 482.9p and the Fullers … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex News – Optimism Driven By Improved Earnings Reports

Posted: 18 Jul 2011 04:10 PM PDT

By ForexMansion.com
 
Investors targeted higher yielding assets during the European session on Tuesday after some companies reported earnings that beat estimates. Those good earnings shifted the attention from Europe’s and US’s debt worries. Now markets will be eyeing the earnings from the big U.S. financial institutions.
The dollar weakened today against its major counterparts as the worries about the U.S. debt situation persist. Officials must come to an agreement about the debt ceiling … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


USD/JPY Daily Fundamental Analysis For July 20, 2011

Posted: 18 Jul 2011 03:10 PM PDT

By ForexMansion.com
The USD/JPY pair traded in a narrow range early Tuesday near its highest level in four months, where the Japanese currency had enough momentum during the last two months to keep its gains against the dollar.
The European sovereign debt crisis still has its negative effect on financial markets, where investors keep focusing on safe haven investments including the Japanese yen and greenback.
Furthermore, the USD/JPY pair has been trading in a dangerous area, where investors … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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