Friday, July 15, 2011

DailyMarkets.com - RDEA Upped To Outperform

DailyMarkets.com - RDEA Upped To Outperform

RDEA Upped To Outperform

Posted: 15 Jul 2011 07:35 AM PDT

We are upgrading Ardea Biosciences Inc. (NASDAQ:RDEA) to Outperform from Neutral due to the promise shown by its lead pipeline candidate lesinurad, which is being developed to treat hyperuricemia (elevated uric acid levels) and gout. Our target price on the stock is $30.00.
Lesinurad, which has performed well in clinical studies, will target a market with huge unmet need on approval. The incidence and severity of gout is increasing in the United States. The market has a huge unmet need with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

VMware Partners EMC To Secure Cloud

Posted: 15 Jul 2011 07:35 AM PDT

VMware Inc. (VMW)and EMC Corp. (EMC) recently announced a collaboration to develop the new VMware vShield 5 family products, using RSA's (security division of EMC) Data Loss Prevention (DLP) classification technology and policies.
The partnership enables VMware to embed Data Loss Prevention (DLP) classification technology and policies into the new VMware vShield App with Data Security, which will be available as a part of the VMware cloud infrastruture suite in the third quarter of 2011.
With … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: The Downside Prevails

Posted: 15 Jul 2011 07:18 AM PDT

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

Canadian Dollar: Key ST Resistance At 993

Posted: 15 Jul 2011 07:18 AM PDT

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

Forex – GBP/USD Down On Economic Data

Posted: 15 Jul 2011 07:10 AM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> GBP/USD was trading at 1.6110, down 0.19% at time of writing.<br/><br/> The pair was likely to find support at 1.5781, Tuesday&rsquo;s low, and resistance at 1.6195, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell unexpectedly to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP Attempting To Confirm Bearish Breakout

Posted: 15 Jul 2011 07:05 AM PDT

Prev: EUR/GBP Maintains Bearish Momentum in Channel Correction (7/14)
EUR/GBP

- The EUR/GBP broken below a rising channel yesterday, and we saw a corrective rally ahead of the US session.
- In this session of the week, we are seeing an attempt to confirm the breakout.
- A break below 0.8748 further confirms the breakout, as well as a dip in the RSI reading below 30.
- The daily chart shows that a near-term target is 0.8720, then 0.8666. Below this support, a long-term rising channel support … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. UoM Consumer Sentiment Falls Unexpectedly

Posted: 15 Jul 2011 07:05 AM PDT

Forexpros – U.S. UoM consumer sentiment fell unexpectedly last month, preliminary data showed on Friday.<br/><br/>In a report, the University of Michigan said that consumer sentiment fell to a seasonally adjusted 63.8, from 71.5 in the preceding month.<br/><br/>Analysts had expected UoM consumer sentiment to rise to 72.5 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

HGSI’s Benlysta Now In Europe

Posted: 15 Jul 2011 07:00 AM PDT

Human Genome Sciences Inc. (NASDAQ:HGSI) and GlaxoSmithKline plc (NYSE:GSK) recently announced that the European Commission (EC) has approved Benlysta (belimumab) to be marketed as an add-on therapy in adult patients with active autoantibody-positive systemic lupus erythematosus (SLE), who have a high degree of disease activity despite standard therapy.
Human Genome and Glaxo have a definitive co-development and co-commercialization agreement, under which the former is responsible for conducting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Taubman Centers

Posted: 15 Jul 2011 07:00 AM PDT

Taubman Centers Inc. (NYSE:TCO), a real estate investment trust (REIT), is scheduled to report its fiscal 2011 second quarter earnings on July 19. The current Zacks Consensus Estimate for the second quarter is 61 cents per share, which is almost flat compared with the year-ago quarter.

First Quarter Recap

Taubman Centers reported first quarter 2011 FFO (fund from operations) of 63 cents per share, which beat the Zacks Consensus Estimate by 5 cents. ‘Fund From Operations’ is a widely used metric … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Down On Economic Data

Posted: 15 Jul 2011 07:00 AM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/CAD was trading at 0.9578, down 0.28% at time of writing.<br/><br/> The pair was likely to find support at 0.9549, Thursday&rsquo;s low, and resistance at 0.9779, Tuesday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell unexpectedly to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Dollar Advances Ahead Of European Stress Tests, Debt Ceiling

Posted: 15 Jul 2011 06:48 AM PDT

The U.S. Dollar was one of the strongest currencies in the overnight session as rumors emerged yesterday that the White House had agreed with Congressional Republicans on over $1.5 trillion worth of deficit cuts in order to raise the debt ceiling by August 2. The news, coming a day after Moody's announced it would review the U.S. government's Aaa rating.
The rumor helped boost the Greenback in Asian and European trade, as little data in the overnight allowed the markets to move based on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Up On U.S. Data

Posted: 15 Jul 2011 06:45 AM PDT

Forexpros – The Euro was higher against the Swiss Franc on Friday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> EUR/CHF was trading at 1.1557, up 0.13% at time of writing.<br/><br/> The pair was likely to find support at 1.1496, Wednesday&rsquo;s low, and resistance at 1.1923, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD Completes ABC Correction; Bullish Momentum Tested

Posted: 15 Jul 2011 06:42 AM PDT

Prev: GBP/USD Completes a Gartley Pattern and Sees Bullish Intention 7/12
GBP/USD

- After clearing the US CPI risk event, the GBP/USD remains in teh same dynamic as before it, in consolidation after a strong rally earlier this week.
- Note the bullish momentum is being tested as the RSI reading hammers at 40. The reading should remain above 40 to maintain the bullish momentum.
- Price action completed 2-swings, or 3-waves down to 1.6075 area, which was resistance earlier in July.
- A bullish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Is There A Chance Markets Shrug Off The Bank Stress Test Results?

Posted: 15 Jul 2011 06:40 AM PDT

The action so far, prior to the release of the Euro-zone bank stress test results, has been calm – "the quiet before the storm" perhaps – but the EUR/USD is still a bit weaker that where it was early Thursday following Wednesday's warning to the US that its credit rating was being put on downgrade watch by Moody's, something that was followed up late Thursday by S&P.
There has already been a lot written about the bank stress tests, and at this point, the tests may lack … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Roche’s Cancer Drug Impresses

Posted: 15 Jul 2011 06:35 AM PDT

Roche Holdings Ltd. (RHHBY) recently reported positive data from a late-stage study of a combination treatment involving pertuzumab and Herceptin (trastuzumab). The CLEOPATRA study, which was conducted on patients with HER2-positive metastatic breast cancer (mBC), demonstrated that patients dosed with the combination of pertuzumab and Herceptin along with docetaxel, experienced longer progression-free survival (primary endpoint) compared to those patients who received only Herceptin and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Bank Of America, ConocoPhillips, ENERGY TRANSFER PARTNERS, Fairchild Semiconductor International, Frequency Electronics, Goldman Sachs Group, Lloyds Tsb Group Plc, Marriot International, MBIA, NutriSystem Inc, RTI International Metals, Southern Union Company, Williams Companies

Posted: 15 Jul 2011 06:35 AM PDT

    Share prices of ConocoPhillips (NYSE:COP) increased 1.63% after the board of directors authorized the division of the energy company into two publicly traded firms

    Maker of chips for mobiles, PC’s and automobiles Fairchild Semiconductor’s (NYSE:FCS) shares gained 2.85% to close at $16.59 after the company released an optimistic outlook for the fiscal
 
    Analysts at Wedbush upgraded NutriSystem Inc. (NASDAQ:NTRI) from "Neutral" rating to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Host Hotels

Posted: 15 Jul 2011 06:35 AM PDT

Host Hotels & Resorts Inc. (NYSE:HST), the largest lodging real estate investment trust (REIT), is scheduled to report its fiscal 2011 second quarter earnings on July 20. The current Zacks Consensus Estimate for the second quarter is 29 cents per share, representing a year-over-year increase of 26.6%.

First Quarter Recap

Host Hotels reported first quarter 2011 recurring FFO (fund from operations) of 12 cents per share, which was in line with the Zacks Consensus Estimate. ‘Fund From … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up On Economic Data, Earnings

Posted: 15 Jul 2011 06:25 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Friday after the release of U.S. data on Industrial Production.<br/><br/> USD/JPY was trading at 79.21, up 0.09% at time of writing.<br/><br/> The pair was likely to find support at 78.47, Thursday&rsquo;s low, and resistance at 80.83, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. industrial production rose less-than-expected to 0.2% last month, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Industrial Production Rises Less-than-expected

Posted: 15 Jul 2011 06:25 AM PDT

Forexpros – U.S. industrial production rose less-than-expected last month, official data showed on Friday.<br/><br/> In a report, the Federal Reserve said that industrial production rose to 0.2%, from 0.1% in the preceding month .<br/><br/> Analysts had expected industrial production to rise 0.3% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japanese Yen: Under Pressure

Posted: 15 Jul 2011 06:18 AM PDT

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

Swiss Franc: The Downside Prevails

Posted: 15 Jul 2011 06:18 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: 15 Jul 2011 06:18 AM PDT

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

Euro: Under Pressure

Posted: 15 Jul 2011 06:18 AM PDT

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

USD/CHF Has A Swing Projection To 0.8240 To Complete A Gartley

Posted: 15 Jul 2011 06:12 AM PDT

Prev: USD/CHF Bounces off Wedge Support after New Record Lows (7/13)
USD/CHF

- The USD/CHF is in a corrective rally after a sharp decline to start the week.
- The RSI reading is above to push above 60. That signals a more significant corrective rally, and invalidates short-term bearish momentum.
- An RSI reading above 70, and market pushing above the 0.8275 pivot spells trouble for the bearish continuation scenario.
- Otherwise, the current rally has a swing projection to 0.8240. This is also … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Target Issues Corporate Bonds

Posted: 15 Jul 2011 06:05 AM PDT

According to Bloomberg, Target Corporation (NYSE:TGT) in an attempt to support its future growth strategies of increasing store counts and acquisitions, has recently issued corporate bonds worth $1.0 billion with a maturity period of three years.
We believe it was a smarter move on Targets’ part since the credit market has normalized and funds are available at lower interest rates. The company has issued $350.0 million 1.125% notes and $650.0 million at a premium of 17 basis points over 3-month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NSN Abandons Stake Divestment Plan

Posted: 15 Jul 2011 06:05 AM PDT

Nokia Siemens Networks (NSN), a 50-50 joint venture between Nokia Corp. (NYSE:NOK) and Siemens AG (NYSE:SI) to provide telecom infrastructure solutions, has suffered a setback. For the last 12 months, NSN was looking for a third party investor in order to inject funds, thereby reducing the stake of both Nokia and Siemens. Recently, the company stated that it has abandoned its equity disinvestment plan for the time being.
In June 2011, The Financial Times reported that the two major U.S. private … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Approaches 1.6071 Support

Posted: 15 Jul 2011 05:57 AM PDT

The GBPUSD is moving lower and approaches the 1.6071 next support level. This level is the 38.2% of the move down from the May high to the low reached in July. Below this level and the 100 day MA comes more into focus. The 100 day MA comes in at the 1.6048 level … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Data Round-Up: Core CPI Still Climbing, Moving Against Bernanke’s Conditions For QE3

Posted: 15 Jul 2011 05:57 AM PDT

The data today was a mixed picture.
Consumer price data showed the headlines CPI fall in the month of June, for the first time in a year. The index slid 0.2%, around expectations. Looking at the underlying rate however, we see a second straight month of rather strong increase, a 0.3% climb. That confirms for us what Fed Chairman Bernanke had talked about, the fact that in current conditions, the underlying rate is actually climbing, whereas a year ago when QE2 was undertaken, underlying … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Looking For Range Breakout In USD/JPY

Posted: 15 Jul 2011 05:48 AM PDT

Prev: USD/JPY Hammering at 79.56 Pivot Opens Way for 78.00, 76.00 (7/12)
USD/JPY

- The USD/JPY has been consolidating overnight in a narrow range. We can expect this to be a market waiting in anticipation for clues for direction.
- The tight range roughly between 79.26 and 78.88 is part of a larger range setting up between 79.60 and 78.50.
- Structurally, the decline has been in a nice impulse wave structure, and we have been keeping momentum bearish as the 1H RSI remains below 60.
- The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down On Economic Data

Posted: 15 Jul 2011 05:45 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on NY Empire State Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4126, down 0.12% at time of writing.<br/><br/> The pair was likely to find support at 1.3838, Tuesday&rsquo;s low, and resistance at 1.4282, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that Manufacturing activity in the State of New York fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Empire State Manufacturing Activity Falls Unexpectedly

Posted: 15 Jul 2011 05:40 AM PDT

Forexpros – Manufacturing activity in the State of New York fell unexpectedly last month, official data showed on Friday.<br/><br/>In a report, Federal Reserve Bank of New York said that Empire State manufacturing activity fell to a seasonally adjusted -3.80, from -7.80 in the preceding month.<br/><br/>Analysts had expected Empire State manufacturing activity to rise 4.20 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Consumer Price Inflation Falls More-than-expected

Posted: 15 Jul 2011 05:40 AM PDT

Forexpros – Consumer price inflation in the U.S. fell more-than-expected last month, official data showed on Friday.<br/><br/> In a report, the Bureau of Labor Statistics said that CPI fell to -0.2%, from 0.2% in the preceding month .<br/><br/> Analysts had expected CPI to fall -0.1% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

YRC Worldwide Raises Outlook

Posted: 15 Jul 2011 05:35 AM PDT

YRC Worldwide Inc. (NASDAQ:YRCW), the struggling trucking company, yesterday declared a rosy financial outlook for fiscal 2011. The company estimated that its fiscal 2011 revenue will rise by a whopping 14% to $4.93 billion compared with $4.33 billion in fiscal 2010. Adjusted earnings before interest, taxes, depreciation, and other charges will be around $209.8 million, a considerable increase of 184% from $73.9 million in fiscal 2010.
YRC Worldwide has been reeling under the threat of bankruptcy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FLIR Declares 2Q11 Prelim Results

Posted: 15 Jul 2011 05:35 AM PDT

FLIR SystemsInc. (NASDAQ:FLIR) has declared its preliminary revenue and earnings per share results for the second quarter of fiscal 2011. The company expects to report revenues of about $390 million for the three months ended June 30, 2011.
Earnings per share are expected to be approximately 18 cents for the quarter. After deducting the net after tax impact of a previously announced litigation settlement and related expenses, earnings per share is expected to be approximately 35 cents. The Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Tracking Stocks As Gold Hinges On Inflation Expectations

Posted: 15 Jul 2011 05:21 AM PDT

Talking Points

Crude Oil Tracking Stocks Ahead of US Data, EU Stress Test Results
Gold Stalls Below $1600 as Bernanke Comments Weigh on QE3 Bets

WTI Crude Oil (NY Close): $95.69 // -2.36 // -2.41%
Crude reversed back lower from resistance at $99.22, the 38.2% Fibonacci retracement of the drop from the early May swing high, taking out support at $96.38 and challenging $94.51 anew. Prices remain broadly anchored to stock performance, with S&P 500 stock index futures pointing higher and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Up During The European Session

Posted: 15 Jul 2011 05:20 AM PDT

Forexpros – The Euro was higher against the Swiss Franc on Friday.<br/><br/> EUR/CHF was trading at 1.1574, up 0.27% at time of writing.<br/><br/> The pair was likely to find support at 1.1496, Wednesday&rsquo;s low, and resistance at 1.1923, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.03% to hit 1.4147 and EUR/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/GBP Up During The European Session

Posted: 15 Jul 2011 05:00 AM PDT

Forexpros – The Euro was higher against the British Pound on Friday.<br/><br/> EUR/GBP was trading at 0.8778, up 0.19% at time of writing.<br/><br/> The pair was likely to find support at 0.8746, today&rsquo;s low, and resistance at 0.8892, Monday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.11% to hit 1.4159 and EUR/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stalking GBP/JPY As Correction Rally Nears Resistance

Posted: 15 Jul 2011 04:53 AM PDT

Prev: GBP/JPY: Elliott Wave Count in Short and Medium Term – Double Zig Zag (7/13)
GBP/JPY

Nearing Resistance:
- GBP/JPY started the week forming a double bottom. Since than, the market has been rallying in a choppy manner, up to the 61.8% reracement level near 128.00.
- A pattern breakout projection targets 128.50, and the 78.6% retracement level is near 129.00.
- The market is therefore, just between a cluster of resistance. (Note 200SMA between 61.8% and 78.6% retracement).
- So far the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/CHF Up In European Trade

Posted: 15 Jul 2011 04:30 AM PDT

Forexpros – The British Pound was higher against the Swiss Franc on Friday.<br/><br/> GBP/CHF was trading at 1.3172, up 0.02% at time of writing.<br/><br/> The pair was likely to find support at 1.3060, Wednesday&rsquo;s low, and resistance at 1.3443, Monday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.15% to hit 1.6116 and EUR/GBP rising 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In European Trading Hours

Posted: 15 Jul 2011 04:00 AM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Friday.<br/><br/> AUD/USD was trading at 1.0653, down 0.67% at time of writing.<br/><br/> The pair was likely to find support at 1.0525, Tuesday&rsquo;s low, and resistance at 1.0804, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.72% to hit 1.3282 and AUD/JPY falling 0.79% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Up During The European Session

Posted: 15 Jul 2011 03:20 AM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Friday.<br/><br/> USD/CHF was trading at 0.8172, up 0.15% at time of writing.<br/><br/> The pair was likely to find support at 0.8084, Wednesday&rsquo;s low, and resistance at 0.8398, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.13% to hit 1.4162 and USD/JPY falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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