Thursday, July 28, 2011

DailyMarkets.com - High Cat Loss Hurts Assurant’s 2Q

DailyMarkets.com - High Cat Loss Hurts Assurant’s 2Q


High Cat Loss Hurts Assurant’s 2Q

Posted: 28 Jul 2011 09:50 AM PDT

Assurant Inc. (NYSE:AIZ) has reported second quarter 2011 operating earnings of 76 cents per share, missing the Zacks Consensus Estimate by 8 cents and significantly lagging the prior-year quarter's earnings of $1.35 per share. The quarter's results were hit by high catastrophe loss (cat loss) incidence and a weak performance at the company's health unit.
Total revenue for the reported quarter stood at $2.1 billion, down 3.6% year over year. Lower earned premiums, along with a decrease in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Cincinnati Beats Yet In Red

Posted: 28 Jul 2011 09:50 AM PDT

Cincinnati Financial Corp. (NASDAQ:CINF) has reported second quarter 2011 operating loss of 57 cents per share, narrower than the Zacks Consensus Estimate of a loss of 64 cents. Earnings, however, contrasted with the year-ago quarter's operating profit of 26 cents. Wider-than-expected losses were primarily attributable to high catastrophe incidence during the quarter.
Revenue for the quarter stood at $975, up 11% year over year. After-tax investment income at Cincinnati inched up 1% year over year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sprint Tops, Inks LightSquared Deal

Posted: 28 Jul 2011 09:35 AM PDT

The third-largest U.S. wireless carrier Sprint Nextel (NYSE:S) has reported second quarter 2011 adjusted net loss per share of 6 cents, surpassing the Zacks Consensus Estimate of a loss of 12 cents.
Adjusted net loss excludes the one-time charge of 22 cents. Including the charge, net loss widened to 28 cents from the year-ago loss of 25 cents.
Consolidated operating revenue grew 4% year over year to $8.31 billion but fell short of the Zacks Consensus Estimate of $8.32 billion. The revenue … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Solid Quarter At Bristol-Myers

Posted: 28 Jul 2011 09:35 AM PDT

Bristol-Myers Squibb Company's (NYSE:BMY) second quarter 2011 earnings (excluding special items) of $0.56 per share surpassed the Zacks Consensus Estimate by $0.01and the year-ago earnings by $0.02. Higher revenues boosted earnings in the reported quarter.
On a reported basis (including special items), Bristol-Myers' earnings in the quarter decreased 2% to $0.52 per share. The healthcare reform enacted in 2010 negatively impacted earnings in the reported quarter by $0.03.
Net sales in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Colgate Matches Zacks Estimates

Posted: 28 Jul 2011 09:35 AM PDT

Colgate-Palmolive Company (NYSE:CL) posted second quarter 2011 earnings of $1.26 per share, keeping in line with Zacks Consensus Estimate. Earnings surpassed the prior-year quarter figure of $1.17 per share by 7.7%.
Global net sales increased 9.5% year over year to $4,185 million based on 0.5% increase in pricingand 6% rise in foreign exchange coupled witha 3% addition from global unit volume. On an organic basis (excluding foreign exchange, acquisitions and divestitures), sales increased … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Boston Scientific Beats, Ups Guidance

Posted: 28 Jul 2011 09:35 AM PDT

Boston Scientific Corporation (NYSE:BSX) reported an EPS of 10 cents during the second quarter of fiscal 2011 compared to 6 cents in the year-ago period. However, after considering certain adjustments (other than amortization expense), the adjusted EPS came in at 12 cents beating the Zacks Consensus Estimate of 8 cents and the year-ago quarter's 6 cents.
Revenues increased 2.4% year over year to $1.975 billion during the quarter, surpassing the Zacks Consensus Estimate of $1.936 billion. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Goodyear Profits More Than Fivefold

Posted: 28 Jul 2011 09:35 AM PDT

Goodyear Tire & Rubber Company (NYSE:GT) saw a profit of $159 million or 65 cents per share (excluding special items) in the second quarter of the year, which was more then fivefold from $31 million or 12 cents per share (excluding special items) in the same quarter a year ago.
The profit significantly exceeded the Zacks Consensus Estimate of 27 cents per share. The higher profit was led by strong price/mix, offset partially by lower tire unit volume due to weaker North American market.
Sales … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


DR Horton Delivers Mixed 3Q

Posted: 28 Jul 2011 09:35 AM PDT

DR Horton Inc. (NYSE:DHI) reported net income of $28.7 million or 9 cents per share in the third quarter of fiscal 2011, significantly lower than $50.5 million or 16 cents per share reported in the year-ago quarter.
However, excluding pre-tax charges of $9.9 million associated with cost of sales for inventory impairments and land option cost write-offs and a $6.5 million loss on early retirement of debt, the company's net income stood at $45.1 million or 14 cents per share, comprehensively … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Starwood Outperforms, Ups Guidance

Posted: 28 Jul 2011 09:35 AM PDT

Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has reported second-quarter adjusted earnings from continuing operations of 50 cents, which surpassed the Zacks Consensus Estimate of 46 cents and improved from the year-earlier earnings of 35 cents. The earnings also topped the company's guidance range of 42 cents to 46 cents.
On a GAAP basis, Starwood recorded earnings of 77 cents per share from continuing operations compared with 42 cents in the year-ago quarter.
The quarter's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Universal Tops Estimate

Posted: 28 Jul 2011 09:35 AM PDT

Universal Technical Institute Inc. (NYSE:UTI) recently posted better-than-expected third-quarter 2011 results. The quarterly earnings of 27 cents a share topped the Zacks Consensus Estimate of 21 cents, and climbed 8% from 25 cents earned in the prior-year quarter.
Behind the Headline
Net revenue for the quarter climbed 1.3% to $108.9 million from the prior-year quarter, and came ahead of the Zacks Consensus Estimate of $105 million. The increase in revenue reflects a rise in tuition fees, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Swiss Franc: The Downside Prevails

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Dollar: The Downside Prevails

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Canadian Dollar: Under Pressure

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Japanese Yen: Under Pressure

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


British Pound: Under Pressure

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Euro: The Downside Prevails

Posted: 28 Jul 2011 09:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


In A Bond State Of Mind

Posted: 28 Jul 2011 09:18 AM PDT

Thursday, July 28, 2011
Even if a compromise (a word seemingly not part of either party’s vocabularies) is reached, Bond market fundamentals may remain mixed. This suggests sideways and choppy trading ahead for Bond prices. It is difficult to see prices test 130-00 without a global economic meltdown. Technically, Bonds remain neutral with a slight downward bias, given the inability of the market to breakout above 127-00. Choosing a direction for the market may be difficult, which is why some … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Exxon Lags But On Oil Prices

Posted: 28 Jul 2011 09:05 AM PDT

U.S. energy behemoth ExxonMobil Corp.’s (NYSE:XOM) second quarter earnings shot up 41% year over year (from $7.6 billion to $10.7 billion), driven by higher commodity price realizations and improved refinery margins.
The world’s largest publicly traded oil company posted earnings of $2.18 per share, showing a substantial improvement from the year-earlier earnings of $1.60. However, the quarterly results were below the Zacks Consensus Estimate of $2.34.
Total revenue in the quarter registered a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Equity Residential Reports In Line

Posted: 28 Jul 2011 09:05 AM PDT

Equity Residential (EQR) reported funds from operations (FFO) of $180.7 million in second quarter 2011 compared with $175.1 million in the year-ago quarter. FFO per share in the reported quarter remained flat year over year at 58 cents. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding one-time items, FFO in the second quarter stood at $186.7 million or 60 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Equity Residential Reports In Line

Posted: 28 Jul 2011 09:05 AM PDT

Equity Residential (EQR) reported funds from operations (FFO) of $180.7 million in second quarter 2011 compared with $175.1 million in the year-ago quarter. FFO per share in the reported quarter remained flat year over year at 58 cents. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding one-time items, FFO in the second quarter stood at $186.7 million or 60 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Torchmark Beats, Guides 2011

Posted: 28 Jul 2011 09:05 AM PDT

Torchmark Corp.  (NYSE:TMK) reported second-quarter 2011 operating income of $1.14 per share, surpassing the Zacks Consensus Estimate by a penny. Earnings grew 7.5% from $1.06 earned in the year ago quarter. Operating income declined 1.2% year over year to $128.9 million in the quarter.
The year-over-year improvement was driven by a higher underwriting income, coupled with increased investment income. Lower share count compared with last year, due to share repurchases, also buoyed the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Home Again, Home Again Jiggety Jig

Posted: 28 Jul 2011 08:51 AM PDT

15 days, 5,200 miles, 10 states, elk, bear, wolves, deer, bald eagles, moose, the Space Needle and San Juan Islands as memories, I’m welcomed home to 109 degree weather and a lawn in dire need of a good mowing. Anyway, I had a great time with my family with little time/opportunity to watch the markets and looking at my account value I guess I didn’t miss too much.

Click on the chart to ENLARGE

The day before I left I bought shares of Direxion Gold Miners Bear 2X ETF (DUST) … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


CBG Misses Estimate, Revs Up

Posted: 28 Jul 2011 08:35 AM PDT

CB Richard Ellis Group, Inc. (NYSE:CBG) reported net income of $61.2 million or 19 cents per share in the second quarter of fiscal 2011, compared with $54.8 million or 17 cents per share in the year-ago period. Excluding non-recurring items, the company reported  net income of $67 million or 21 cents per share during the quarter compared with $58.8 million or 18 cents per share in the year-earlier quarter. Recurring earnings, however, missed the Zacks Consensus Estimate by three cents.
The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Delta Misses, Stock At All-time Low

Posted: 28 Jul 2011 08:35 AM PDT

Delta Air Lines (NYSE:DAL), the second largest U.S. airline, has reported second quarter adjusted earnings per share of 43 cents, falling a penny short of the Zacks Consensus Estimate. Including special items, earnings per share plunged 58.2% to 23 cents from 55 cents in the year-ago quarter.
The shares of Delta Air Lines touched the 52-week low of $7.28 and closed at $7.61, down 41 cents from the previous close. The share price was the lowest amongst its largest rivals since November 2009. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Equity Residential Reports In Line

Posted: 28 Jul 2011 08:35 AM PDT

Equity Residential (EQR) reported funds from operations (FFO) of $180.7 million in second quarter 2011 compared with $175.1 million in the year-ago quarter. FFO per share in the reported quarter remained flat year over year at 58 cents. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding one-time items, FFO in the second quarter stood at $186.7 million or 60 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Forms Head And Shoulder; Silver Breaks Below Diagonal Triangle

Posted: 28 Jul 2011 08:21 AM PDT

Prev: Gold and Silver Resume Uptrend in Risk-Off Trading (7/27)
Gold (XAU/USD)

Head and Shoulder and Other Bearish Signals:
- Gold is seen forming a head and shoulder pattern in the 4H chart. If the market can stay below 1607 today in the Asian session, we can see this topping lead to some downside correction.
- Another bearish signal is an extended bearish divergence, although this is already being resolved and may not be relevant as the RSI heads to the bullish momentum support at 40. This … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Covance Beats, Backlog Surges

Posted: 28 Jul 2011 08:20 AM PDT

Covance (NYSE:CVD) reported an EPS of 61 cents in the second quarter of fiscal 2011 compared with 49 cents in the year-ago quarter. However, adjusted (excluding restructuring costs) EPS came in at 66 cents, beating the Zacks Consensus Estimate by a penny. Net revenues rose 9.1% year over year to $547.7 million.
The company primarily derives revenues from two segments, Early Development and Late-Stage Development. While the Early Development segment deals with pre-clinical toxicology, analytical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Amdocs Beats, Outlook Strong

Posted: 28 Jul 2011 08:20 AM PDT

Yesterday, after market close, Amdocs Limited (NYSE:DOX) declared its financial results for the third quarter of fiscal 2011, which surpassed the Zacks Consensus Estimate by a penny. However, Amdocs provided solid financial outlook for the ensuing fourth quarter, attributable to a healthy demand trend for managed services.
Quarterly net income, on a GAAP basis, was $91.8 million or 50 cents per share compared with a net income of $92.3 million or 45 cents per share in the prior-year quarter. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Questar Tops, Reaffirms Guidance

Posted: 28 Jul 2011 08:20 AM PDT

Natural gas-focused energy company, Questar Corp. (NYSE:STR) reported impressive second quarter 2011 results, reflecting strong performances of all business units and strong contribution from its expansion venture.
Earnings per share came in at 22 cents, surpassing both the Zacks Consensus Estimate and prior-year quarter result of 20 cents.
Total revenue came in at $222.9 million, up 10.8% from the year-ago level of $201.1 million and ahead of the Zacks Consensus Estimate of $189 million. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crown Castle Meets Zacks Estimates

Posted: 28 Jul 2011 08:20 AM PDT

Crown Castle International Inc.(NYSE:CCI) declared second quarter 2011 results in line with the Zacks Consensus Estimate. The solid performance was primarily driven by higher usage of smartphones and increased deployment of 4G networks.
Net profit
Quarterly GAAP net income was approximately $25.7 million or 9 cents per share compared with a net loss of $102.7 million or a loss of 36 cents per share in the year-ago quarter. Second quarter 2011 EPS of 9 cents was exactly in line with the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crown Castle Meets Zacks Estimates

Posted: 28 Jul 2011 08:20 AM PDT

Crown Castle International Inc.(NYSE:CCI) declared second quarter 2011 results in line with the Zacks Consensus Estimate. The solid performance was primarily driven by higher usage of smartphones and increased deployment of 4G networks.
Net profit
Quarterly GAAP net income was approximately $25.7 million or 9 cents per share compared with a net loss of $102.7 million or a loss of 36 cents per share in the year-ago quarter. Second quarter 2011 EPS of 9 cents was exactly in line with the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: AUDUSD Stalling At The Highs, But Needs To Break 1.1000

Posted: 28 Jul 2011 08:18 AM PDT

The AUDUSD is stalling on  the momentum move higher but has not been able to break below the key 1.1000 level. The burden of proof remains on the bears to push the price lower.  ON the topside the underside of the trendline comes in at the 1.1044, and above that, the double top may give sellers a reason to try and  pick a top with a stop on a breaks above those levels.
However, until the key 1.1000 level is firmly broken below, shorts will have a concern.  Trends are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Trims Gains After Upbeat U.S. Data, Debt Vote Eyed

Posted: 28 Jul 2011 08:01 AM PDT

Forexpros – The U.S. dollar trimmed gains against most of its major counterparts on Thursday, as market sentiment was boosted after U.S. data showed that jobless claims fell more-than-expected last week, dropping below the key 400,000 threshold for the first time since April.<br /><br />During U.S. morning trade, the greenback was higher against the euro, with EUR/USD shedding 0.48% to hit 1.4299.<br /><br />The euro weakened earlier after the Italian Treasury … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Natural Gas Futures Plunge To 3-week Low After U.S. Supply Data

Posted: 28 Jul 2011 07:54 AM PDT

Forexpros – Natural gas futures extended losses on Thursday, tumbling to a three-week low after a report from the U.S. Energy Information Administration showed that natural gas inventories rose more-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD4.231 per million British thermal units during U.S. morning trade, plunging 2.15%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Pares Losses After Better-than-expected U.S. Data

Posted: 28 Jul 2011 07:46 AM PDT

Forexpros – The pound pared back losses against the U.S. dollar on Thursday, pulling away from a two-day low after the release of stronger-than-expected U.S. data on jobless claims and pending home sales.<br /><br />GBP/USD pulled back from 1.6293, the pair&rsquo;s lowest since Tuesday, to hit 1.6325 during early U.S. trade, down just 0.04%.<br /><br />Cable was likely to find support at 1.6264, the low of July 26 and resistance at 1.6438, Wednesday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Word From The Floor: Markets Cheer US Data, Ahead Of House Vote

Posted: 28 Jul 2011 07:45 AM PDT

07/28/11 US jobless claims and pending home sales came in better-than-expected. Stocks extended gains after the open, ahead of the House vote on Boehner’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Debt-wrangling Contains Dollar After Strong Initial Claims Report

Posted: 28 Jul 2011 07:43 AM PDT

The yen rose against the dollar, euro and currencies of other leading nations after a Japanese government minister hinted that intervention to restrain its damaging rise would likely have to wait until after a resolution for the U.S. debt-ceiling is found.
U.S. Dollar – A nail-biting vote is expected in the House of Representatives as unified Democratic lawmakers gang-up against an amended Republican proposal that would cut spending by $917 billion over 10-years if passed. A midweek slump in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Extends Gains After Strong U.S. Housing, Jobless Data

Posted: 28 Jul 2011 07:31 AM PDT

Forexpros – Crude oil futures extended gains on Thursday, recouping some of the previous day&rsquo;s steep losses after official data showed that U.S. first time jobless claims fell to a three-month low last week, while pending home sales rose unexpectedly in June.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD97.78 a barrel during European morning trade, climbing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Remains Flat, Trades Near $97.50

Posted: 28 Jul 2011 02:30 AM PDT

07/28/11 Front month crude prices were trading mostly flat this morning as investor caution regarding the US debt talks clashined with an oncoming tropical storm in the Gulf of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


AUD/USD Attempting A Double Top With Parity Support

Posted: 28 Jul 2011 07:28 AM PDT

Prev: AUD/USD at Record High; Opens Up Projections to 1.1590, 1.1690 (7/27)
AUD/USD

Double Top Attempt:
- The AUD/USD is seen in the 1H chart attempting a double top.
- This double top would be formed if the market can break below the parity, 1.0 support level.
- The RSI breaking below 40 helps confirms the lost of bullish momentum, and reflects a correction decline.
- A double top breakout projection targets 1.0920-1.0925 area.
Bullish Outlook:
- If the market contains the market above … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


IJ Challenges Atlanta’s Vending Monopoly

Posted: 28 Jul 2011 07:28 AM PDT

A new lawsuit was  filed today by The Institute for Justice (IJ) to challenge Atlanta’s unconstitutional vending monopoly on behalf of two Atlanta street vendors (see video above and go here and here for full background information, excerpts appear below).

“Should the city of Atlanta be allowed to create a single street vending monopoly that forces existing vendors to start paying up to $20,000 in rent and fees every year? That is the question to be answered by a major lawsuit filed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Takes A Step Higher

Posted: 28 Jul 2011 07:22 AM PDT

The EURUSD has reached the 38.2% of the days range after a hard fight with the bears in the early NY hours of trading.  The 1.4309 level is this level. The 100 bar MA on the 5 minute chart is the next hurdle for the bulls at the 1.4320.  This may limit the move as traders have felt the reluctance of the market to rally or fall this morning so far.  The conviction has been limited at the level.
Nevertheless, the move higher takes some of the tarnish on the downside a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Trims Losses After Upbeat U.S. Economic Data

Posted: 28 Jul 2011 07:20 AM PDT

Forexpros – The euro trimmed losses against the U.S. dollar on Thursday, pulling back from a one-week low after the release of better-than-expected U.S. data on jobless claims and pending home sales.<br /><br />EUR/USD pulled away from 1.4255, the pair&rsquo;s lowest since July 21, to hit 1.4302 during early U.S. trade, still down 0.45% on the day.<br /><br />The pair was likely to find support at 1.4138, the low of July 21 and resistance at 1.4437, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Morning Market Brief

Posted: 28 Jul 2011 01:15 AM PDT

07/28/11 The latest news on what’s moving the US equities markets prior to the NYSE opening bell: the continuing debt ceiling debate, initial jobless claims improving, and the latest round of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


No comments:

Post a Comment