Tuesday, July 5, 2011

DailyMarkets.com - It’s That Time Again

DailyMarkets.com - It’s That Time Again

It’s That Time Again

Posted: 05 Jul 2011 05:46 PM PDT

It’s that time of year again, when the shills experts pop up on bubblevision (and elsewhere) and start fantasizing talking about the return of the free-spending U.S. consumer. In “Retailers Should See Strong Back-to-School Season,” CNBC details the “insights” of one such individual.
Craig Johnson, president of Customer Growth Partners, said Tuesday that he expects back-to-school spending to climb 6.2 percent to $467 billion between July and September from the prior year. If this proves … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/JPY Down During The Asian Session

Posted: 05 Jul 2011 05:45 PM PDT

Forex Pros – pros – The British Pound was lower against the Japanese Yen on Wednesday.<br/><br/> GBP/JPY was trading at 130.01, down 0.14% at time of writing.<br/><br/> The pair was likely to find support at 129.06, Friday&rsquo;s low, and resistance at 130.85, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.02% to hit 1.6063 and EUR/GBP rising 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Constructive Ambiguity: What’s Needed In The Debt Ceiling Debate

Posted: 05 Jul 2011 05:12 PM PDT

While I agree with those who argue that we need less government spending rather than higher tax rates, their game of chicken over the debt ceiling makes me very nervous. I'm afraid the other side will win by doing nothing, even though win is not the right word. What we need is something I'll call "constructive ambiguity," or language that will enable both sides to save some face.
In a recent interview on CNBC, my old boss, Alan Greenspan, suggested that something commonly called tax … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up In Asian Trade

Posted: 05 Jul 2011 05:05 PM PDT

Forex Pros – pros – The Euro was higher against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4429, up 0.001% at time of writing.<br/><br/> The pair was likely to find support at 1.4398, Tuesday&rsquo;s low, and resistance at 1.4579, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8988 and EUR/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up During Asian Trade

Posted: 05 Jul 2011 04:15 PM PDT

Forex Pros – pros – The U.S. Dollar was higher against the Japanese Yen on Tuesday.<br/><br/> USD/JPY was trading at 81.08, up 0.01% at time of writing.<br/><br/> The pair was likely to find support at 80.27, Thursday&rsquo;s low, and resistance at 81.19, today&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.04% to hit 1.4435 and GBP/USD rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Keeps The Corrections Contained…for Now.

Posted: 05 Jul 2011 04:02 PM PDT

The bottom of the plunge to the downside held the 38.2% of the move up from the June 27th low (see hourly chart above), However, if you look at the sharp and unsustainable move to the downside on the Portugal downgrade, the corrrections higher have so far found sellers against the 38.2% retracement. at the 1.4431 level. This says to me that there may be traders caught above who are happy to get out at that level (and/or shorts are comfortable selling against that level). What you want to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Netflix To Enter LatAm Market

Posted: 05 Jul 2011 03:57 PM PDT

07/05/11 Netflix will be expanding its online video service to Latin America and the Caribbean. The increase in global subscribers will help offset rising content … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up In Asian Trade

Posted: 05 Jul 2011 03:35 PM PDT

Forex Pros – pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday.<br/><br/> NZD/USD was trading at 0.8258, up 0.08% at time of writing.<br/><br/> The pair was likely to find support at 0.8234, today&rsquo;s low, and resistance at 0.8332, Monday&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.12% to hit 1.2942 and EUR/NZD falling 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: ADP Employment Report, ISM Services Index, Obama To Host Twitter ‘Town Hall’ Meeting, German Factory Orders

Posted: 05 Jul 2011 10:20 AM PDT

07/05/11 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Classic Summer Mode

Posted: 05 Jul 2011 03:17 PM PDT

Cusick’s Corner
The markets were, well in summer mode. This is the type of action that one could expect into an employment number at the end of the week and with earnings coming. The market had low volume with choppy action and while the bid has been nibbling, the future data has been holding the run to the upside in check. This is one of the reasons that I have some bearish exposure to the S&Ps. See you Midday.
Trading was uninspired without much news to guide the market action Tuesday. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CBG Completes ING Division Purchase

Posted: 05 Jul 2011 02:35 PM PDT

CB Richard Ellis Group, Inc. (CBG) recently announced that it has acquired ING Clarion Real Estate Securities (CRES) from Netherlands-based ING Groep NV (ING). The acquisition was funded by a combination of cash and borrowings under its secured credit facility and the company also raised a new debt of approximately $800 million for this purpose in March 2011. 
The company further expects to complete the pending acquisition of ING's Real Estate Investment Management (REIM) operations in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Copel: Tariff Adjustment

Posted: 05 Jul 2011 02:35 PM PDT

Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL, recently announced that the company has been granted approval for an average tariff adjustment of 5.55% by the National Electric Power Agency (ANEEL), Brazil's Electricity Regulatory Agency.
The company also added that the tariff adjustment was approved through a resolution 1,158 of June 21, 2011 and includes annual adjustment of 5.77% and (0.22%) related to the relevant financial components. The 5.55% tariff adjustment will have … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wisconisin Adopts Athenahealth EHR

Posted: 05 Jul 2011 02:35 PM PDT

Medical billing and records software provider athenahealth Inc (NASDAQ:ATHN) has been chosen as a vendor for electronic health record ("EHR") solutions by Wisconsin Health Information Technology Extension Center ("WHITEC").
WHITEC is the designated regional extension center ("REC") for Wisconsin. It is responsible for assisting health care providers across the state in the adoption and implementation of EHR systems and helping them to become the meaningful users of EHR and qualify for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Three Symbols With Good Bullish Setups To Trade Tomorrow

Posted: 05 Jul 2011 02:14 PM PDT

( click to enlarge )

Shares of Zalicus, Inc. (ZLCS) traded nicely and I'm looking for continuation of the upward direction. The stock surged 12.88% or 30 cents to $2.63 per share after an Oppenheimer & Co. analyst started covering the stock with an “Outperform” rating. Analyst Boris Peaker said Zalicus could get up to $15 million in annual royalties from the pain drug Exalgo, a drug developed by Zalicus and marketed by Covidien PLC. He said the Cambridge, Mass., company also has a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chevron Expanding Caspian Pipeline

Posted: 05 Jul 2011 02:03 PM PDT

Integrated energy company Chevron Corporation (NYSE:CVX), through its subsidiary Chevron Neftegaz, has commenced the construction for the expansion of the Caspian pipeline. The total value of the development project is estimated at $5.4 billion.
The venture intends to enhance the capacity of the 900-mile long pipeline to 1.4 million barrels per day from its current level of 730,000 barrels per day. The pipeline, which transports crude oil from western Kazakhstan to a terminal in the Black Sea, is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Terex Fulfills Minimum Tender Offer

Posted: 05 Jul 2011 02:03 PM PDT

Terex Corp. (NYSE:TEX) recently announced that the company has successfully achieved the minimum tender condition for Demag Cranes. The company offered €45.50 per share to Demag shareholders, which has exceeded the minimum requirement of 51%.
Terex Industrial Holding AG offered a price of €45.50 per share, representing an approximately 25% premium on the closing share price of €36.30 on April 29, 2011 and a 28% premium on the three-month volume-weighted average share price of €35.56 as of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: SUG, NFLX, PFE

Posted: 05 Jul 2011 02:00 PM PDT

07/05/11 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

How Money From Heaven Turned Into A Lower Credit Score In Raleigh

Posted: 05 Jul 2011 01:55 PM PDT

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


Forex – EUR/USD Down At The End Of U.S. Session

Posted: 05 Jul 2011 01:55 PM PDT

Forex Pros – pros – The Euro was lower against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4421, down 0.82% at time of writing.<br/><br/> The pair was likely to find support at 1.4398, today&rsquo;s low, and resistance at 1.4579, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.61% to hit 0.8984 and EUR/JPY falling 0.46% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold, Silver And Mining Stocks Maintains Strong Uptrend

Posted: 05 Jul 2011 01:48 PM PDT

We have witnessed an important watershed in world history with the unwinding of QE2. Every citizen, no matter where, has a ready camera eye on the world, carried in his smart phone case. Even more so does the internet provide the anvil for major nations to forge economic strategies. "Swords are being hammered into cybershares."
We think of wars being fought with soldiers on battlefields, now Cyberspace is the new field of combat. As we have seen with the uprisings in North Africa and the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up Toward The End Of U.S. Session

Posted: 05 Jul 2011 01:40 PM PDT

Forex Pros – pros – The U.S. Dollar was higher against the Japanese Yen on Tuesday.<br/><br/> USD/JPY was trading at 81.12, up 0.39% at time of writing.<br/><br/> The pair was likely to find support at 80.27, Thursday&rsquo;s low, and resistance at 81.19, today&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.83% to hit 1.4419 and GBP/USD falling 0.17% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Vodafone To Exit Polkomtel

Posted: 05 Jul 2011 01:35 PM PDT

British mobile phone giant Vodafone Group Plc (NYSE:VOD) has agreed to sell its entire 24.4% stake in Poland's Polkomtel to Spartan Capital Holdings for around €920 million ($1.34 billion) in cash, before tax and transaction costs.
The Polkomtel sale is the fourth initiative in Vodafone's strategy, announced last year, to exit minority holdings. Vodafone, the largest revenue generating international wireless carrier, will use the net proceeds from the sale to pay down debt. The deal is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Arrow Signs Deal With Syncort

Posted: 05 Jul 2011 01:35 PM PDT

Electronics distributor Arrow Electronics Inc. (NYSE:ARW) recently announced that its business segment – Arrow Enterprise Computing Solutions (ECS) has signed an agreement with Syncort to be among the first distributors of the NetApp Syncsort Integrated Backup solution in the United Kingdom. Last year, both the companies had signed a deal for North America.
Syncort provides data integration acceleration and data protection software solutions. Arrow provides enterprise computing solutions to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 05 Jul 2011 01:25 PM PDT

Forex Pros – pros – The Euro was lower against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4418, down 0.84% at time of writing.<br/><br/> The pair was likely to find support at 1.4398, today&rsquo;s low, and resistance at 1.4579, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.63% to hit 0.8983 and EUR/JPY falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Netflix Takes South America

Posted: 05 Jul 2011 01:17 PM PDT

 by Raghu Gullapalli, contributing writer
This morning news came out courtesy of All Things Digital that Netflix (NASDAQ:NFLX) the provider of on demand internet streaming video and flat rate DVD-by-mail. was expanding its operations into Latin America.
 Upon the break of this news the stock gapped up in the pre market and looks ready to launch its booster rockets once again in attempt to break the $300 barrier.

Netflix

 This is a prototypical example of a long gap trade.

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

U.S. Markets Mixed At Close; Dow Jones Down 0.10%

Posted: 05 Jul 2011 01:10 PM PDT

Forex Pros – pros – U.S. stocks were mixed after the closing bell on Tuesday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average fell 0.10%, the S&P 500 index shed 0.13%, while the Nasdaq 100 index climbed 0.35%.<br/><br/> Meanwhile, across the Atlantic, European stock markets were mixed at close. France&rsquo;s CAC 40 was down 0.61%; Germany&rsquo;s DAX shed 0.05%; Britain&rsquo;s FTSE 100 climbed 0.11%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Freeport Mine Workers On Strike

Posted: 05 Jul 2011 01:00 PM PDT

Thousands of workers kicked off a weeklong strike at  Freeport-McMoRan Copper & Gold Inc.’s (NYSE:FCX) gold and copper mine in eastern Indonesia, demanding higher wages and protesting the dismissal of their union leaders.
The US mining giant insists that the work stoppage at the Grasberg mine in the remote province of Papua will not affect production. As per the company's website Grasberg mine contains the world's largest recoverable reserves of copper and the biggest single gold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Conoco, Karoon Drilling Plan OK’d

Posted: 05 Jul 2011 01:00 PM PDT

The joint venture between ConocoPhillips (NYSE:COP) and Karoon Gas Australia Ltd. (KAR) got the government approval to initiate a drilling operation in three blocks of the Browse Basin, about 350 kilometers off the northwest coast in Australia. The drilling campaign was postponed due to increased environmental scrutiny.
With the approval, the joint venture has entered its second phase of drilling in an area about 4 miles east of Seringapatam Reef. The program includes drilling of at least four … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down During The U.S. Session

Posted: 05 Jul 2011 12:55 PM PDT

Forex Pros – pros – The British Pound was lower against the U.S. Dollar on Tuesday.<br/><br/> GBP/USD was trading at 1.6058, down 0.16% at time of writing.<br/><br/> The pair was likely to find support at 1.5974, Thursday&rsquo;s low, and resistance at 1.6140, Monday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.69% to hit 0.8978 and GBP/JPY rising 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Duke Energy Files For Rate Hike

Posted: 05 Jul 2011 12:35 PM PDT

Duke Energy Corporation (NYSE:DUK) said that its unit Duke Energy Carolinas has filed for a rate increase, as planned, with the North Carolina Utilities Commission  to recover the investments made by the company over the last two years. If approved, the new rates will come into effect from February 2012.
The previous rate hike for the company was approved in 2009, which resulted in an increase of $7.30 per month in the residential bill for consumers who typically use 1,000 kilowatt-hours … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Avnet Completes Parisian IT Buy

Posted: 05 Jul 2011 12:35 PM PDT

Avnet, Inc. (NYSE:AVT) recently completed its previously announced acquisition of value-added IT distributor Amosdec SAS. Headquartered in Paris, Amosdec provides virtualization and storage management solutions.
Amosdec generated revenues of $90 million in fiscal 2010. Management expects that the acquisition will be immediately accretive to the bottom-line and support Avnet to attain a return on capital of 12.5% within two years.
Amosdec will form a part of Avnet Technology Solutions, EMEA. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JASO To Buy Silver Age Holdings

Posted: 05 Jul 2011 12:35 PM PDT

JA Solar Holdings Co., Ltd. (NASDAQ:JASO) has entered into a definitive agreement to acquire 100% ownership interest in Silver Age Holdings Limited for $180 million in stock. The acquisition aims to increase production of a key panel component.
As consideration, JA Solar will issue 30.901 million ordinary shares at a price of US$5.825 per share. This represents the 45-day volume-weighted average price of JA Solar’s American Depositary Shares ('ADS') trading on the NASDAQ Global Market and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Boost For Bayer-Johnson & Johnson

Posted: 05 Jul 2011 12:35 PM PDT

Recently, the US Food and Drug Administration (FDA) delivered a huge boost for Bayer (BAYRY) and partner Johnson & Johnson (NYSE:JNJ) by clearing their blood-thinner (anticoagulant) Xarelto (rivaroxaban). The US regulatory body cleared the drug, which has blockbuster potential, for the prevention of deep vein thrombosis (DVT) which may cause pulmonary embolism (PE) in patients undergoing knee or hip replacement surgery.  The blood-thinner is already available in Europe for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Economic Freedom Extends Life Expectancy

Posted: 05 Jul 2011 12:34 PM PDT

Following my recent post on life expectancy and economic growth in Chile, here’s a more comprehensive analysis in the chart above of the relationship between: a) economic freedom measured by the Heritage Foundation, on a scale from 1 (repressed) to 100 (free), and b) life expectancy for 176 countries in 2009. 

 The regression line in the chart above shows a clear and positive relationship between economic freedom and life expectancy, with higher levels of economic freedom being … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Down In U.S. Trading Hours

Posted: 05 Jul 2011 12:30 PM PDT

Forex Pros – pros – The U.S. Dollar was lower against the Swiss Franc on Tuesday.<br/><br/> USD/CHF was trading at 0.8409, down 0.83% at time of writing.<br/><br/> The pair was likely to find support at 0.8306, Thursday&rsquo;s low, and resistance at 0.8526, Friday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.74% to hit 1.4432 and USD/JPY rising 0.31% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 05 Jul 2011 12:10 PM PDT

Forex Pros – pros – The U.S. Dollar was higher against the Canadian Dollar on Tuesday.<br/><br/> USD/CAD was trading at 0.9624, up 0.12% at time of writing.<br/><br/> The pair was likely to find support at 0.9580, Friday&rsquo;s low, and resistance at 0.9688, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.88% to hit 1.4411 and GBP/USD falling 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GM’s Vehicle Sales In China Continue To Grow

Posted: 05 Jul 2011 12:00 PM PDT

07/05/11 The General Motor Co. reported Tuesday that it sold 1.27 million vehicles in the first half of the year in China … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Cracks The 1.4435-45 Area And Moves Lower. 1.4395 The Next Target

Posted: 05 Jul 2011 11:48 AM PDT

The market cracked lower on the back of the Moody's downgrade and this now puts added pressure on the EU in a time where they are still fighting the fire from Greece.     The finance minister of Portugal is on the wires saying that the Moody cut ignores new budget control moves and ignored political concensus around bailout (not sure what that second portion means).  They vowed to speed up the austerity measures and the  "govt" adds that the Moody's cut … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 05 Jul 2011 11:45 AM PDT

Forex Pros – pros – The Euro was lower against the U.S. Dollar on Tuesday.<br/><br/> EUR/USD was trading at 1.4422, down 0.81% at time of writing.<br/><br/> The pair was likely to find support at 1.4404, today&rsquo;s low, and resistance at 1.4579, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.67% to hit 0.8979 and EUR/JPY falling 0.48% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Rise Continues On Eurozone

Posted: 05 Jul 2011 10:00 AM PDT

07/05/11 The US dollar remained strong this afternoon while the euro remained weak on growing eurozone debates concerning … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

China Opens World’s Longest Cross-Sea Bridge

Posted: 04 Jul 2011 10:00 PM PDT

When the new Qingdao Jiaozhou Bay Bridge opened to traffic this week in China, it made the Guinness World Records for the longest cross-sea bridge in the world. The 26.4-mile long and 110-foot wide bridge stretches across the bay, linking the Huangdao district to the city of Qingdao and Hongdao Island.
China spent 17 years planning and designing the engineering marvel to be able to withstand the bay's high salt content and icy winters. Yet, it only took four years to build, with at least … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
at

No comments:

Post a Comment