DailyMarkets.com - General Dynamics Gets $16M Contract

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• General Dynamics Gets $16M Contract
• Carnival Lowered To Underperform
• Zions Stays Neutral
• ADTRAN Tops, Beats Revenue Record
• Goldman Lowered To Underperform
• Wolverine Shines, Beats Estimate
• ICE Inflates Energy Portfolio
• ADTRAN Tops, Beats Revenue Record
• UDR Makes Public Offering
• Walmart To Grab The Fruitspot
• Earnings Preview: Genuine Parts Co.
• 24-Week Trial Data Announced / Final Module Filed…
• RHB Selects Fiserv
• CSC Inks Deal With Swiss Re
• PX-Shandong Sign Oxy-Fuel Contract
• Why Mitch McConnell Will Win The Day
• Forex Trading: USDCHF Makes New Lows Again As Dollar Gets Hit.
• Ethanol Now Consumes More Corn Than For Animal Feed For First Time, Corn Prices Reach Record High
• Forex – Dollar Tumbles After Bernanke Testimony On U.S. Outlook
• Word From The Floor: US Stocks Advance On China Data, Fed Comments
• Bernanke Testimony Boosts Risk Appetite, EUR/USD, Commodity Currencies
• Crude Oil Futures Add To Gains After U.S. EIA Inventory Data
• Forex Trading: GBPUSD Tests 200 Day MA And Trendline Resistance.
• Forex – Pound Hits 3-day High Against Broadly Weaker Dollar
• EUR/USD Surges Above 1.41 As Bernanke Talks Up Stimulus
• Natural Gas Futures Climb To 9-day High On Demand Outlook
• GBP/JPY: Elliott Wave Count In The Short And Medium Term; Double Zig Zag
• Forex – EUR/USD Extends Gains After Bernanke Remarks
• Forex Trading: EURUSD Pushes Higher Approaches Next Targets
• Sighs Of Relief Plump Euro
• Crude Trades Near $97 On API Report
• Morning Market Brief

General Dynamics Gets $16M Contract Posted: 13 Jul 2011 10:05 AM PDT Defense contractor General Dynamics Corporation (NYSE:GD) announced that its unit Electric Boat received a modification contract worth $15.8 million from the U.S. Navy. Electric Boat will continue to work on the development of Common Missile Compartment, which is produced for the United Kingdom’s Successor ballistic-missile submarine and the U.S. Ohio replacement submarine. Per the contract, Electric Boat will continue with the engineering, technical services, concept studies and design of a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Carnival Lowered To Underperform Posted: 13 Jul 2011 09:55 AM PDT We recently downgraded our rating on Carnival Corporation (NYSE:CCL) from Neutral to Underperform. This was due to a host of factors, including political disturbances in some geographical areas, the earthquake in Japan, rising fuel prices and a greater exposure to the sluggish European market. In the recently concluded second quarter of 2011, Carnival's earnings of 26 cents surpassed the Zacks Consensus Estimate but fell below the year-ago quarter's 22 cents. Although quarterly revenue … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Zions Stays Neutral Posted: 13 Jul 2011 09:55 AM PDT We continue to maintain our long-term "Neutral" recommendation on Zions Bancorp. (NASDAQ:ZION). We are impressed with Zions' significant turnaround (the company returned to profitability after almost two years), as well as its successful enhancement of capital ratios, and believe that its cost control efforts will drive future growth. However, the company's near-term outlook remains cautious as the loan demand is likely to remain weak, with continued revenue headwinds, as well as persistent … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ADTRAN Tops, Beats Revenue Record Posted: 13 Jul 2011 09:40 AM PDT ADTRAN Inc. (NASDAQ:ADTN), a global provider of networking and communications equipment, reported second quarter 2011 earnings of 56 cents per share that surpassed the Zacks Consensus Estimate of 51 cents. The quarter's results also improved from 44 cents in the year-ago quarter on strong sales. Net profit shot up 33.1% to $36.9 million from $27.8 million in the year-ago quarter. Revenue climbed 22.5% year over year to $184.2 million and was well ahead of the Zacks Consensus Estimate at $179 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Goldman Lowered To Underperform Posted: 13 Jul 2011 09:35 AM PDT We have downgraded our recommendation on The Goldman Sachs GroupInc. (NYSE:GS) to Underperform from Neutral due to the recent fraud charges faced by the company. Goldman is continuously facing fraudulent issues. In July 2011, the company was sued by several insurance companies for misrepresenting the financial condition of Freddie Mac (FMCC) as an underwriter of Freddie’s offering of Series Z preferred stock in late 2007. The investors also alleged that Goldman misled them with statements and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wolverine Shines, Beats Estimate Posted: 13 Jul 2011 09:35 AM PDT Wolverine World Wide Inc. (NYSE:WWW) recently posted strong second-quarter 2011 results that topped the Zacks Consensus Estimate on the heels of double-digit growth across its brands. The company, one of the leading designers, manufacturers and marketers of branded footwear and apparel, also reiterated its outlook for fiscal 2011 on the back of better-than-expected results. The company's multi-brand portfolio, multi-distribution channel strategy and higher prices remain its key growth … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ICE Inflates Energy Portfolio Posted: 13 Jul 2011 09:35 AM PDT On Tuesday, IntercontinentalExchange Inc. (NYSE:ICE) announced its plan to launch 18 fresh over-the-counter (OTC) cleared energy products from August 1, 2011. ICE will now be offering over 530 OTC energy contracts, along with the products announced yesterday, comprising more than 435 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008. Accordingly, the energy contracts include global oil and refined petroleum products coupled with North American natural gas liquids. ICE … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ADTRAN Tops, Beats Revenue Record Posted: 13 Jul 2011 09:35 AM PDT ADTRAN Inc. (NASDAQ:ADTN), a global provider of networking and communications equipment, reported second quarter 2011 earnings of 56 cents per share that surpassed the Zacks Consensus Estimate of 51 cents. The quarter's results also improved from 44 cents in the year-ago quarter on strong sales. Net profit shot up 33.1% to $36.9 million from $27.8 million in the year-ago quarter. Revenue climbed 22.5% year over year to $184.2 million and was well ahead of the Zacks Consensus Estimate at $179 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UDR Makes Public Offering Posted: 13 Jul 2011 09:35 AM PDT UDR, Inc (UDR) recently made a public offering of 15 million shares. In a bid to cover over-allotments, the company will provide a 30-day option to the underwriters for purchasing an additional 2.3 million shares. UDR intends to utilize the proceeds generated from the transaction for acquiring financial assets and for other general corporate purposes. This public offering will enable the company to attain financial flexibility and seize investment opportunities and acquisitions, which will go a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Walmart To Grab The Fruitspot Posted: 13 Jul 2011 09:05 AM PDT South African discount store Massmart Holdings Ltd., which is majority owned by U.S. giant retailer Wal-Mart Stores Inc. (NYSE:WMT), has planned to buy The Fruitspot in order to grow its presence in fresh food offerings to consumers. Based in Johannesburg, The Fruitspot is a supplier of fruits and vegetables. Though the deal value has not been disclosed, Massmart believes that The Fruitspot will be housed under Massmart’s Masswarehouse division, once the deal gets finalized. Massmart has already … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Genuine Parts Co. Posted: 13 Jul 2011 09:05 AM PDT Genuine Parts Company (NYSE:GPC) is scheduled to release its second quarter 2011 results before the market opens on July 15, 2011. Atlanta, Georgia-based Genuine Parts earned 80 cents per share in the first quarter, which beat the Zacks Consensus Estimate of 76 cents. For the upcoming quarter, the Zacks Consensus Estimate is pegged at 89 cents per share, which reflects an annualized improvement of 14%. With respect to earnings surprises, the company beat the Zacks Consensus Estimate in each of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

24-Week Trial Data Announced / Final Module Filed… Posted: 13 Jul 2011 08:35 AM PDT 24-Week Trial Data Announced / Final Module Filed… In early July SANUWAVE (SNWV) announced that they had made the third and final module filing to the FDA for dermaPACE in the treatment of diabetic foot ulcers.   Also announced was 24-week data from SANUWAVE’s Phase III IDE study.  The data, along with the 12-week results, which were announced in December 2010, will serve as support for FDA approval and were included in the third module filing.   The recent data … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RHB Selects Fiserv Posted: 13 Jul 2011 08:35 AM PDT Fiserv Inc. (NASDAQ:FISV) recently agreed to support interest-rate risk and liquidity risk management strategies of RHB Banking Group (RHB). Headquartered in Kuala Lumpur, RHB has seven distinct strategic business groups and an asset base of more than $43 billion. With Malaysian economy regaining momentum, the bank emphasizes its growth plans by improving its risk infrastructure and analytics. RHB believes that Fiserv will assist the bank in expanding its Islamic banking and global financial banking … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CSC Inks Deal With Swiss Re Posted: 13 Jul 2011 08:35 AM PDT Virginia-based Computer Sciences Corp. (NYSE:CSC) announced that it has inked an agreement with Zurich-based Swiss Reinsurance Company Ltd. Financial terms were not disclosed. Per the agreement terms, Computer Sciences will host and manage a couple of insurance software applications for Swiss Re. With the help of these software applications, Swiss Re will be able to support its North American Corporate Solutions business. Computer Sciences will host its flagship 'POINT IN' insurance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PX-Shandong Sign Oxy-Fuel Contract Posted: 13 Jul 2011 08:35 AM PDT Praxair (China) Investment Co. Ltd, the Chinese unit of Praxair Inc. (NYSE:PX) recently signed a contract with a leading steel and iron enterprise in Shandong province, North China, the Shandong Guangfu Group Co. The contract will strengthen the company's foothold in North China. As per the terms of the combustion equipment contract, Praxair will provide its proprietary oxy-fuel technology to Shandong Guangfu Group. One set of Praxair's gas injection system will be installed at the 100-ton … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Why Mitch McConnell Will Win The Day Posted: 13 Jul 2011 08:16 AM PDT Senate Minority Leader Mitch McConnell's compromise on the debt ceiling is a win for the President disguised as a win for Republicans. But it really just kicks the can down the road past the 2012 election – which is what almost every sane politician in Washington wants to happen in any event. McConnell's plan would allow the President to raise the debt limit. Congressional Republicans could then vote against the action with resolutions of disapproval. But these resolutions would surely be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Makes New Lows Again As Dollar Gets Hit. Posted: 13 Jul 2011 08:12 AM PDT The USDCHF has pushed to yet another new low, falling below the June low of 0.8274 today. The price decline is down testing the channel trendline on the hourly chart below, with a break below the line accelerating the decline … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ethanol Now Consumes More Corn Than For Animal Feed For First Time, Corn Prices Reach Record High Posted: 13 Jul 2011 08:07 AM PDT Financial Times –  “U.S. ethanol refiners are consuming more domestic corn than livestock and poultry farmers for the first time, underscoring how a government-supported biofuels industry has contributed to surging grain demand. The U.S. Department of Agriculture estimated that in the year to August 31 ethanol producers will have consumed 5.05 billion bushels of corn, or more than 40% of last year's harvest. Animal feed and residual demand accounted for 5 billion bushels.” MP: As the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Tumbles After Bernanke Testimony On U.S. Outlook Posted: 13 Jul 2011 07:59 AM PDT Forexpros – The U.S. dollar extended losses against all of its rivals on Wednesday, after Federal Reserve Chairman Ben Bernanke said the central bank is ready to ease monetary policy if economic growth remains slow.<br /><br />During early U.S. trade, the greenback was sharply lower against the euro, with EUR/USD jumping 1.15% to hit 1.4137.<br /><br />Earlier Wednesday, the euro was boosted after official data showed that Chinese gross domestic product expanded by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: US Stocks Advance On China Data, Fed Comments Posted: 13 Jul 2011 07:55 AM PDT 07/13/11 Wall Street opened higher, amidst better-than-expected GDP data from China and comments from Bernanke’s testimony on Capitol … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bernanke Testimony Boosts Risk Appetite, EUR/USD, Commodity Currencies Posted: 13 Jul 2011 07:48 AM PDT We previewed the Fed Chairman Bernanke's testimony earlier today as an important risk event, and we were not disappointed as his written testimony caused a sharp surge in risk appetite, boosting US equities, and causing higher yielders such as the EUR and commodity currencies like the AUD and CAD to gain on the safe-haven USD. What was the Key From  Bernanke Prepared Statement: The jump in sentiment was boosted by Bernanke holding out the possibility that the Fed will pursue further … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Add To Gains After U.S. EIA Inventory Data Posted: 13 Jul 2011 07:48 AM PDT Forexpros – Crude oil futures extended gains on Wednesday, after a government report showed that U.S. crude oil and gasoline inventories both declined last week, easing concerns over a slowdown in demand from the U.S. <br /><br />On the New York Mercantile Exchange, light sweet crude futures for delivery in August traded at USD98.33 a barrel during U.S. morning trade, jumping 1.5%.&nbsp; <br /><br />It earlier rose as much as 1.8% to trade at USD98.61 a barrel, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Tests 200 Day MA And Trendline Resistance. Posted: 13 Jul 2011 07:38 AM PDT The level comes in at 1.6045.  A break has ressistance at the 1.6071 level.  Be aware of a false break. Looking at the hourly chart a move below the 1.6031 level is needed to give intraday top sellers any satisfaction. This level is the trendline in the chart below.  Watch this level for early … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Pound Hits 3-day High Against Broadly Weaker Dollar Posted: 13 Jul 2011 07:35 AM PDT Forexpros – The pound extended gains against the U.S. dollar on Wednesday, advancing to a three-day high, following a mixed assessment of the U.S. economic outlook by Federal Reserve Chairman Ben Bernanke.<br /><br />GBP/USD hit 1.6055 during early U.S. trade, the pair&rsquo;s highest since last Friday; the pair subsequently consolidated at 1.6048, surging 0.84%.<br /><br />Cable was likely to find short-term support at 1.5882, Monday&rsquo;s low and resistance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Surges Above 1.41 As Bernanke Talks Up Stimulus Posted: 13 Jul 2011 07:34 AM PDT Prev: EUR/USD in Correction from 200SMA…(7/12) EUR/USD - Bernanke's testimony talks of stimulus and equities react positively. - EUR/USD surges pass 1.41. - 1.4220 area is next, A break above this level invalidates a bearish impulse wave count. - The filling of the opening gap to this week can also invalidate the bearish outlook. - The bearish outlook is towards 1.3750 to test a channel support shown in the daily charts. - The bullish outlook is to 1.4370 in the short-term. Will the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Climb To 9-day High On Demand Outlook Posted: 13 Jul 2011 07:31 AM PDT Forexpros – Natural gas futures were up for a fourth day on Wednesday, trading at a nine-day high amid a favorable demand outlook after weather forecasts showed that a heat wave was moving towards the U.S. East coast.<br /><br />On the New York Mercantile Exchange, natural gas futures for August delivery traded at USD4.386 per million British thermal units during U.S. morning trade, jumping 1.42%.&nbsp; <br /><br />It earlier rose as much as 1.8% to trade at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/JPY: Elliott Wave Count In The Short And Medium Term; Double Zig Zag Posted: 13 Jul 2011 07:21 AM PDT Prev: Risk Aversion to Push GBP/JPY to 126; 122.15 (7/11) GBP/JPY Short-term Double Bottom Attempt and EW Count: - Risk aversion indeed strengthened the Japanese Yen, pushing GBP/JPY to lows near 126. - The decline reached down to 124.85 area before being rejected and pushed back above 126. - The 1H chart shows a double bottom attempt. A break above 127, should confirm the double bottom formation. - A pattern breakout projection targets the 128.50. The market is still bearish in the medium … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Extends Gains After Bernanke Remarks Posted: 13 Jul 2011 07:21 AM PDT Forexpros – The euro extended gains against the U.S. dollar on Wednesday, climbing to a fresh two-day high after Federal Reserve Chairman Ben Bernanke reiterated the central bank’s position that the U.S. economy warrants low rates for an &ldquo;extended period.&rdquo;<br /><br />EUR/USD hit 1.4122 during early U.S trade, the pair&rsquo;s highest since Monday; the pair subsequently consolidated at 1.4108, jumping 0.94%.<br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Pushes Higher Approaches Next Targets Posted: 13 Jul 2011 07:19 AM PDT The Bernanke comments (along with some calming comments from Fitch on Italy) have led to an increase in the EURUSD. The pair is testing resistance against topside channel at 1.4123 and the 100 hour MA at the 1.4134. Proft takers should slow the move higher at the level but the bias remains supportive. With the price moving above the 50% at the 1.4105 level on the most recent move higher, the market will be eyeing this level for clues as to support of the break. IF the level can hold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sighs Of Relief Plump Euro Posted: 13 Jul 2011 07:06 AM PDT Hopes for an emergency EU ministerial summit to counter rising fears over contagion from a possible default in Greece toned down concerns about Italy inspiring a recovery in the region's currency. Meanwhile investors pushing hard for a rebound in risk looked to Chinese growth figures for reassurance. Stronger second quarter growth in the world's number two economy tells us little about the future yet offers no solace for Europe's little problem of debt. Euro – You could refer to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Trades Near $97 On API Report Posted: 13 Jul 2011 02:00 AM PDT 07/13/11 Front month crude prices traded near $97 aftr a surprisng boost in suplies last week according to the API report late … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief Posted: 13 Jul 2011 01:15 AM PDT 07/13/11 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

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