Tuesday, July 19, 2011

DailyMarkets.com - Thermo Fisher Buys Microbiology Biz

DailyMarkets.com - Thermo Fisher Buys Microbiology Biz

Thermo Fisher Buys Microbiology Biz

Posted: 19 Jul 2011 05:05 PM PDT

Recently, Thermo Fisher Scientific (NYSE:TMO) acquired the microbiology business Trek Diagnostic Systems from Magellan Biosciences. However, financial terms of the deal were not disclosed. Trek Diagnostic, with $34 million of revenues in 2010, provides microbiology solutions including blood culture, micro-organism identification and antibiotic susceptibility testing (AST) products.
The company believes that the acquisition complements its existing portfolio of microbiological testing technologies. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SM Energy To Offload Marcellus Acres

Posted: 19 Jul 2011 05:05 PM PDT

SM Energy Company (NYSE:SM) is on track with its divestiture plan. The oil and gas company has signed an asset sale agreement related to its entire Marcellus position with an affiliate of Endeavour International Corporation (END) for a total cash consideration of $80 million. The transaction, which is subject to customary closing conditions, is slated to close in the fourth quarter of 2011.
The deal covers SM Energy's total leasehold acreages at McKean and Potter counties of Pennsylvania … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up In Asian Trade

Posted: 19 Jul 2011 05:05 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Wednesday.<br/><br/> EUR/USD was trading at 1.4174, up 0.13% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4217, Tuesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.09% to hit 0.8788 and EUR/JPY rising 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ethanol Surplus, General Mills Starves

Posted: 19 Jul 2011 04:35 PM PDT

General Mills Inc. (NYSE:GIS) has held the government's three decade old subsidy program for ethanol production responsible for creating shortage in its raw materials supply and, in turn, inflation in corn prices. The retail giant had recently announced that it will raise prices to combat the cost push inflation of corn.
General Mills also predicted that the price hike will hurt earnings in the current quarter and the fiscal year as well. The owner of Cheerios cereal, Progresso soup and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Telefonica Layoff Costs 2.7 Billion Euro

Posted: 19 Jul 2011 04:20 PM PDT

Spanish telecom giant Telefonica (NYSE:TEF) plans to dismiss 6,500 employees in Spain during 2011–2013. Consequently, the company would incur a total pre-tax charge of €2.7 billion ($3.82 billion) in the current year that will be treated as non-recurring expenses.
Despite these charges, Telefonica is committed to its dividend targets. The company reiterated its plans to pay a dividend of €1.60 per share in 2011 and €1.75 per share in 2012.
The planned layoffs are expected to improve the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stone Sees Prospects At LaPosada

Posted: 19 Jul 2011 04:20 PM PDT

Lafayette, Louisiana-based Stone Energy Corporation (NYSE:SGY) announced a well discovery at its LaPosada Prospect (also called La Cantera) –– an oil and gas field sprawling over 2899 acres. The asset is located in Vermilion Parish, Louisiana.
The well uncovered by Stone has a depth of 18,550 feet and recorded 176 feet of highly resistive sand within the primary Cris R Massive objective. Stone expects production from the field to commence by early 2012.
PetroQuest Energy Inc. (NYSE:PQ) –– the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

China Unicom Adds 3G Subscribers

Posted: 19 Jul 2011 04:20 PM PDT

China’s second largest mobile operator China Unicom (NYSE:CHU) added 2.28 million subscribers in June, up 1.27% from the prior month. This takes the company's total customer base to 181.62 million.
The company's GSM subscriber base rose to 157.67 million with the net addition of 0.42 million customers, while its 3G subscriber base increased to 23.95 million with net addition of 1.86 million in June. China Unicom added more 3G subscribers in June compared to 1.74 million 3G subscribers in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down During Asian Trade

Posted: 19 Jul 2011 04:15 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday.<br/><br/> USD/JPY was trading at 79.13, down 0.06% at time of writing.<br/><br/> The pair was likely to find support at 78.47, Thursday&rsquo;s low, and resistance at 79.60, Thursday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.05% to hit 1.4163 and GBP/USD rising 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Range Resources Sees Volume Expansion In Q2

Posted: 19 Jul 2011 04:05 PM PDT

Range Resources Corporation's (NYSE:RRC) second quarter 2011 production volume saw an 8% improvement from the year-ago period, augmented by superior drilling results from its Marcellus Shale and Mid-continent properties.
The company's second quarter production volume of 508 million cubic feet equivalent per day (MMcfe/d) comprise 76% natural gas, while natural gas liquids (NGLs) and oil contributed 17% and 7%, respectively.
Range lost more than 100 MMcfe/d of production when it sold its 52,000 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

France Telecom To Buy Congo China

Posted: 19 Jul 2011 04:05 PM PDT

France Telecom (NYSE:FTE), the largest telecom carrier in Paris, is in talks to buy Congo China Telecom, the fourth largest operator in the Democratic Republic of Congo.
The acquisition of Congo China Telecom would include the takeover of a 51% stake owned by Chinese telecom gear maker ZTE Corp. and the 49% stake from the Congolese government. The buyout value is estimated at €300 million ($425 million).
France Telecom is currently negotiating with ZTE and will work out the government stake … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Property Acquires Asset

Posted: 19 Jul 2011 04:05 PM PDT

Liberty Property Trust (LRY) recently purchased a Class A distribution property spanning 535,000 square feet at 7533 Industrial Park Way in Macungie, Pennsylvania for approximately $32 million.
The property was developed five years ago but has remained vacant since then. The company also executed a long-term lease for 63% of the building spanning 337,500 square feet. The new tenant will occupy the space on January 1, 2012.
Liberty Property boasts a presence in multiple markets, thereby helping … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lockheed Thrives On Navy Contract

Posted: 19 Jul 2011 04:05 PM PDT

Defense contractor Lockheed Martin Corporation (NYSE:LMT) yesterday added to its order book an $85 million U.S. Navy contract.
Under the contract, Lockheed will provide operations and maintenance support to five U.S. Navy ocean surveillance ships. The contract that forms a part of the Navy's antisubmarine warfare mission is a lucrative one-year contract, extendable up to 4 years through yearly options. 
The antisubmarine warfare mission is of great significance to the Navy. Lockheed Martin … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AIG Mulls IPO Of Its Aircraft Leasing Unit

Posted: 19 Jul 2011 04:05 PM PDT

American International Group Inc. (NYSE:AIG) is pondering an initial public offering (IPO) of its aircraft leasing unit, International Lease Finance Corp. (ILFC), in the near future, according to the Wall Street Journal.
Accordingly, AIG intends to raise about $1.5–$2.0 billion through this IPO, which would imply a divestment of about 25% of its stake in ILFC. However, the decision depends on the market conditions. The proceeds from the IPO would once again help AIG shed part of its debt to the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Volvo Braking System Reduces Accidents

Posted: 19 Jul 2011 03:57 PM PDT

07/19/11 The Highway Loss Data Institute found that automatic braking system could reduce low-speed car crashes. Volvo’s City Safety system reduced frontal automobile … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MetLife Stays Neutral

Posted: 19 Jul 2011 03:35 PM PDT

MetLife Inc. (NYSE:MET) offers a diversified business mix. The company remains focused on inorganic growth, and also remains successful in maintaining its operating leverage and a strong capital position.
However, we are retaining our “Neutral” recommendation on the company. Positives are being offset somewhat by its significant exposure to commercial mortgage-backed securities (CMBS), Alt-A residential mortgage-backed securities (RMBS) and subprime RMBS, as well as the current interest rate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Amphenol Corporation

Posted: 19 Jul 2011 03:35 PM PDT

Amphenol Corporation (NYSE:APH) is expected to report second quarter results on July 20, 2011.
The company expects sales of $985 – $1,000 million in the quarter.  EPS is forecasted between $0.76 and $0.78.
For 2011, management now projects revenues around $3,955 – $4,000 million, up from the previous estimate of $3,885 – $3,960 million.  EPS is expected between $3.05 and $3.11, up from the previous estimate of $3.00 – $3.10.  
However, earnings estimates for 2011 are down by a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Family Dollar In Neutral Lane

Posted: 19 Jul 2011 03:35 PM PDT

Family Dollar Stores Inc.'s (NYSE:FDO) strategic initiatives to improve merchandising, marketing, and store operations have resulted in sustained growth in the top and bottom lines.
Management now expects a growth of 8% to 9% in net sales, 5% to 6% in comparable-store sales and 17.6% to 20.6% in earnings per share for fiscal 2011.
We believe there is a tremendous opportunity to increase sales and gross margin through effective price management, cost containment, tighter inventory control, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: V.F. Corporation

Posted: 19 Jul 2011 03:35 PM PDT

V.F. Corporation (NYSE:VFC) is scheduled to release its second-quarter 2011 results on Thursday, July 21, 2011.
The Zacks Consensus Estimate for the quarter is pegged at $1.03 per share, representing an estimated year-over-year growth rate of 3.0%. 
First Quarter Performance
V.F. Corporation reported first-quarter 2011 adjusted earnings of $1.71 per share, striding ahead of the Zacks Consensus Estimate by 11 cents. Results also surpassed $1.44 earned in the prior-year quarter by almost … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up In Asian Trade

Posted: 19 Jul 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday.<br/><br/> NZD/USD was trading at 0.8562, up 0.06% at time of writing.<br/><br/> The pair was likely to find support at 0.8381, Friday&rsquo;s low, and resistance at 0.8573, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.10% to hit 1.2532 and EUR/NZD falling 0.03% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: Earnings – Abbott Labs, Altria, AmEx, Blackrock, Ebay, Intel, United Tech; US Existing Home Sales, Euro-one Consumer Confidence

Posted: 19 Jul 2011 10:20 AM PDT

07/19/11 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: Malus Domestica Produces

Posted: 19 Jul 2011 03:17 PM PDT

Cusick’s Corner
AAPL: in the infamous words of Harry Caray, “Holy Cow!” The large cap Tech company blew earnings away and still led with conservative guidance, no surprise, into Q3. While the NASDAQ futures popped, the S&Ps have muted reaction to the After Hours news, further stressing that the Financials will need to get a bigger lift if this index is going to challenge the upside. The market will be watching for further headlines on the debt ceiling crisis and will pay attention to Crude, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Adobe Acquires EchoSign

Posted: 19 Jul 2011 03:05 PM PDT

Adobe Systems Incorporated (NASDAQ:ADBE) announced that it has acquired California-based EchoSign, a leading Web-based provider of electronic signatures and signature automation.
The cost of the transaction was not revealed.
Adobe plans to add EchoSign’s electronic signature technology to its document exchange services platform to reduce time, costs and complexity associated with traditional signing methods, such as fax and overnight envelopes. The EchoSign solution will be integrated with other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Rig Count Goes Past 1900

Posted: 19 Jul 2011 03:05 PM PDT

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country). This can be primarily attributed to an increase in the tally of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN) and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Clorox Rejects Icahn Offer

Posted: 19 Jul 2011 03:05 PM PDT

Clorox Corporation (NYSE:CLX) rejected the recent offer of a conditional acquisition from activist investor Icahn Enterprises L.P. Icahn offered $76.50 per share for Clorox, the offer being subject to due diligence, financing and other conditions. After evaluating and discussing the proposal, Clorox's financial and legal advisers came to the conclusion that the offer undervalues the company.
The advisers pointed out that the company to its credit continues to create shareholder value in the form … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Merck’s Victrelis Wins EU Approval

Posted: 19 Jul 2011 03:05 PM PDT

Merck (NYSE:MRK) recently announced that its hepatitis C virus (HCV) drug, Victrelis (boceprevir), gained approval in the EU.
The European Commission (EC) approved Victrelis for the treatment of chronic hepatitis C (CHC) genotype 1 infection, in combination with peginterferon alfa and ribavirin in treatment-naïve and treatment-failed adults with compensated liver disease.
Positive Recommendation from CHMP in May
EU approval was based on efficacy and safety data from two phase III studies – the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Sherwin Williams

Posted: 19 Jul 2011 03:05 PM PDT

Sherwin-Williams Co. (NYSE:SHW) will release its results for the second quarter of 2011 before the market opens on July 21, 2011.
Sherwin-Williams earned a profit of 63 cents per share in the first quarter of 2011, outshining the Zacks Consensus Estimate of 52 cents per share.
In the upcoming quarter, the Zacks Consensus Estimate for Sherwin-Williams is pegged at a profit of $1.77 per share, reflecting an annualized growth of 2.77%. The upside potential of the estimate, essentially a proxy for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

4 Stocks For Your Watchlist

Posted: 19 Jul 2011 02:36 PM PDT

( click to enlarge )

Cirrus Logic, Inc. (NASDAQ:CRUS) has had a hard time with resistance here, but may be ready to move higher. The level which the stock may have trouble moving above, is today at $17.20. It would need to break above that level to run to $19. The technical chart shows the stock is rising as %K line is on top over %D line showing buy signal. 

( click to enlarge )

Novatel Wireless, Inc. (NASDAQ:NVTL) has been trading in a range of $4.97-5.64 since May. Looking at the technical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forest Labs Tops Again

Posted: 19 Jul 2011 02:35 PM PDT

Forest Laboratories, Inc. (NYSE:FRX) reported earnings per share of $1.04 in the first quarter of fiscal 2012, easily beating the Zacks Consensus Estimate of 96 cents and the year-earlier earnings of 95 cents.
Results were boosted by higher revenues, lower R&D expenses and a lower share count.
Including a charge of $40.0 million (14 cents per share net of tax) for a new product licensing fee, Forest Labs reported first quarter fiscal 2012 earnings of 90 cents.
First quarter revenues increased … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apple Kills It… Again

Posted: 19 Jul 2011 02:35 PM PDT

Magic-maker and “serial earnings surpriser” Apple (NASDAQ:AAPL) blew away everybody — even the most optimistic investors — with 35% beat of estimates this afternoon. The company reported EPS of $7.79 when the consensus estimate was for only $5.81.
To give you an idea of how big this beat was, the highest published estimate by any analyst was $6.58. Even the “whisper” numbers all day were only as high as $7.34 at the extreme upper end. And this after weeks of dozens of analysts raising their … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BNY Mellon Beats By A Whisker

Posted: 19 Jul 2011 02:15 PM PDT

The Bank of New York Mellon Corporation's (NYSE:BK) second-quarter 2011 earnings of 59 cents per share came in 3 cents ahead of the Zacks Consensus Estimate. This also compares favorably with earnings of 54 cents in the year-ago quarter.
BNY Mellon experienced sequential and year-over-year increases in assets under custody and administration during the reported quarter, reflecting acquisitions in the prior year, change in market values and net new business. Increasedfee revenue, wiped out … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chesapeake Hits Record Production

Posted: 19 Jul 2011 02:15 PM PDT

Integrated energy company Chesapeake Energy Corporation (NYSE:CHK) announced that its Anadarko Basin's Buffalo Creek 1-17 well has generated a record gross production of more than 60 billion cubic feet of natural gas.
The company, holding an 82.6% working interest and a 65.8% net revenue interest, began operating the well in May 2002.
The well, located in Beckham County, was drilled to a total depth of approximately 21,000 feet at the Cunningham Sand of the Deep Springer formation. During the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yahoo! Reports In-Line, Misses On Revenue

Posted: 19 Jul 2011 02:09 PM PDT

Yahoo! (NASDAQ:YHOO) reported second quarter EPS of 18 cents, in-line with the Zacks Consensus Estimate. This snaps the company’s streak of five consecutive positive earnings surprises.
It was an 18% increase over the same quarter in 2010, however.
Revenue Falls Short
Revenue excluding traffic acquisition costs (revenue ex-TAC) came in at $1.076 billion, a 5% decline from the same quarter in 2010. Revenue fell short of the Zacks Consensus Estimate of $1.104 billion.
The decline was due in large part … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Comerica Reports In Line

Posted: 19 Jul 2011 02:09 PM PDT

Comerica Inc. (NYSE:CMA) reported second quarter 2011 earnings of 53 cents per share, in line with the Zacks Consensus Estimate.
While earnings improved substantially from 39 cents a year ago, it deteriorated from 57 cents reported in the prior quarter.
The sequential decrease reflects the federal income tax settlement impact as well as expenses of $5 million incurred in association with the pending acquisition of Sterling Bancshares Inc. (NASDAQ:SBIB).
Recently, the Sterling buyout was approved by the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Tractor Supply

Posted: 19 Jul 2011 02:08 PM PDT

Tractor Supply Company (NASDAQ:TSCO), a leading retail firm and ranch store brand, is scheduled to report its second-quarter 2011 financial results after the market closes on July 20, 2011. The current Zacks Consensus Estimate for the quarter is $1.19 per share. For the quarter under review, revenue is expected at $1,191.0 million, according to the Zacks Consensus Estimate.
First-Quarter 2011, Summary
Tractor Supply’s first-quarter 2011 earnings came in at 24 cents, breezing past the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: BAC, WFC, AAPL

Posted: 19 Jul 2011 02:00 PM PDT

07/19/11 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

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

Posted: 19 Jul 2011 01:55 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> EUR/USD was trading at 1.4150, up 0.27% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4270, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up On Economic Data, Earnings

Posted: 19 Jul 2011 01:40 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> USD/JPY was trading at 79.25, up 0.26% at time of writing.<br/><br/> The pair was likely to find support at 78.47, Thursday&rsquo;s low, and resistance at 79.60, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Analyst Interviews: Oil & Natural Gas Stock Outlook

Posted: 19 Jul 2011 01:35 PM PDT

Crude Oil
The improving economic scene – both here in the U.S. as well as worldwide – and the continued unrest in producing countries had been the main driver of the oil rally, which saw the commodity zoom past the $110 per barrel level earlier this year.
However, apprehensions about high U.S. crude stocks, the release of emergency oil supplies from government-held strategic reserves into the world market, and uncertainty over oil supply disruptions in the Middle East have been weighing on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up On Economic Data, Earnings

Posted: 19 Jul 2011 01:25 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> EUR/USD was trading at 1.4144, up 0.23% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4270, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Boskin And Kennedy On Lowering Tax Rates

Posted: 19 Jul 2011 01:18 PM PDT

1. Michael Boskin in yesterday’s WSJ:

“The lower marginal tax rates in the 1980s led to the best quarter-century of economic performance in American history. Large increases in tax rates are a recipe for economic stagnation, socioeconomic ossification, and the loss of American global competitiveness and leadership. 

There is only one solution to this growth-destroying, confiscatory tax-rate future: Control spending growth, especially of entitlements. Meaningful tax reform—not with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Of Canada Holds Interest Rate At 1.00%

Posted: 19 Jul 2011 01:12 PM PDT

The Bank of Canada held its target for the overnight rate steady at 1.00%; also holding the Bank Rate at 1.25% and the deposit rate at 0.75%.  The Bank commented in its statement: ”To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn, consistent with achieving the 2.0 percent inflation target.  Such reduction would … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Higher; Dow Jones Up 1.63%

Posted: 19 Jul 2011 01:10 PM PDT

Forexpros – U.S. stocks were up after the closing bell on Tuesday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 1.63%, the S&P 500 index gained 1.63%, while the Nasdaq 100 index climbed 2.31%.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally adjusted 0.63M last month, from 0.55M in the preceding month whose figure was revised down from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 19 Jul 2011 12:55 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> GBP/USD was trading at 1.6127, up 0.44% at time of writing.<br/><br/> The pair was likely to find support at 1.6006, Monday&rsquo;s low, and resistance at 1.6186, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CPKF: Maintain Outperform

Posted: 19 Jul 2011 12:35 PM PDT

Ann Heffron, CFA
CPKF: Maintain Outperform

We are maintaining our outperform recommendation on Chesapeake Financial Shares, Inc. (CPKF). CPKF reported solid 2011 second quarter net earnings of $2.1 million, up 55% from the $1.3 million reported in the year-ago quarter, while diluted EPS increased 57% to $0.63 from $0.40, with the better EPS performance reflecting share buybacks. Our second quarter diluted EPS estimate was $0.49.

The primary reason for this improvement was a $1.1 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

General Dynamics Tucks In IT Firm

Posted: 19 Jul 2011 12:35 PM PDT

General Dynamics Corporation (NYSE:GD) has acquired Network Connectivity Solutions, Corp. ('NETCONN'). The acquired business will be a part of General Dynamics Information Technology, a business unit of General Dynamics. The value of the cash transaction has not been disclosed. However, it is expected to be accretive to General Dynamics’ earnings beginning in 2012.
Network Connectivity Solutions provides enterprise information technology ('IT') services to the Defense Information Systems … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 19 Jul 2011 12:30 PM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> USD/CHF was trading at 0.8258, up 1.02% at time of writing.<br/><br/> The pair was likely to find support at 0.8091, Monday&rsquo;s low, and resistance at 0.8278, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Will AAPL Succumb To Gravity?

Posted: 19 Jul 2011 12:17 PM PDT

Cusick’s Corner
GS reports bad numbers, the market goes up — that is strong. Finance continues to lag the market, but one thing that traders and investors cannot ignore is that when rates do move, money will cycle into this sector. At this stage the conviction is in Tech and traders are waiting for Tech big wigs — AAPL reports tonight. I did blog to watch Housing, XHB, the data was much better than expected and the XHB sector has held support of $17 in what was looking like a bearish set up. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Previewing The BOE Meeting Minutes – Can Talk Of QE Undermine GBP?

Posted: 19 Jul 2011 12:13 PM PDT

A key risk event for the GBP overnight will be the BOE Meeting Minutes, set to be released at 9:30PM ET. We preview this release.
Fundamental Release: RBA Meeting Minutes
Time: 4:30AM ET (8:30AM GMT)
Pair: GBP/USD and other GBP crosses
Importance of This Event:
Becuase the Bank of England does not provide a statement or press conference following a meeting in which it held monetary policy steady, we do not know the exact thinking of the Monetary Policy Committee.
The Meeting Minutes is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Down In U.S. Trade

Posted: 19 Jul 2011 12:10 PM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Tuesday after the release of U.S. data on Housing Starts.<br/><br/> USD/CAD was trading at 0.9505, down 0.97% at time of writing.<br/><br/> The pair was likely to find support at 0.9483, today&rsquo;s low, and resistance at 0.9635, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: St. Jude

Posted: 19 Jul 2011 12:05 PM PDT

Medical devices major St. Jude Medical (NYSE:STJ) is scheduled to release its second-quarter fiscal 2011 results before the opening bell on Wednesday, July 20. In its first quarter commentary, the Minnesota-based company noted that it expects second quarter adjusted earnings per share of between 83 and 85 cents. The current Zacks Consensus Estimates for revenues and earnings for the quarter are $1,448 million and 84 cents a share, respectively.
With respect to earnings surprises, St. Jude has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Is It Just A Spending Problem?

Posted: 19 Jul 2011 12:05 PM PDT

“The U.S. Government doesn’t have a revenue problem, it has a spending problem.”
That is a talking point you hear a lot lately. Let’s take a look at what the facts actually have to say about the matter.
Here is what those who point to spending as the source of the problem are talking about. Federal spending is at a post-WWII high as a share of GDP. Since Federal spending is a nominal amount, I have used nominal GDP in this analysis. Note that federal spending as a share of GDP over the last 30 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Packaging Corp Beats Estimate

Posted: 19 Jul 2011 12:05 PM PDT

Packaging Corporation of America (NYSE:PKG) reported net sales of $665 million in the second quarter of 2011, up 8% from the year-earlier quarter.
Shipments for corrugated products improved 3.2% from the year-earlier quarter. Outside sales of containerboards were up 22,000 tons from the year-earlier quarter. Containerboard production increased 2.9% from the year-earlier quarter to 606,000 tons.
Exiting the quarter, the company's containerboard inventories were down 18,000 tons from the previous … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Healthways Initiated At Neutral

Posted: 19 Jul 2011 12:05 PM PDT

We initiate our coverage on Healthways (NASDAQ:HWAY), a global well-being company, with a Neutral rating. First-quarter 2011 earnings per share of 12 cents missed the Zacks Consensus Estimate of 20 cents. Revenues came in at $163 million, down 8.9% year over year.  
Healthways is the leader in a strategically critical and rapidly evolving part of the health care services market. The company's model encourages people to make favorable lifestyle changes that lead to enhanced well-being, reduced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Novartis Beats Soundly

Posted: 19 Jul 2011 12:05 PM PDT

Swiss pharmaceutical giant Novartis (NYSE:NVS) reported yet another strong quarter delivering earnings per share of $1.48 for the second quarter of 2011, much above the year-earlier earnings of $1.20 per share as well as the Zacks Consensus Estimate of $1.39. Earnings were supported by strong top-line and operating margin growth.
First quarter revenues were up a solid 27% over the prior year to $14.9 billion. Total revenues also edged past the Zacks Consensus Estimate of $14.4 billion driven by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up On Economic Data, Earnings

Posted: 19 Jul 2011 11:45 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday after the release of euro zone data on German ZEW Economic Sentiment.<br/><br/> EUR/USD was trading at 1.4133, up 0.15% at time of writing.<br/><br/> The pair was likely to find support at 1.4015, Monday&rsquo;s low, and resistance at 1.4270, Thursday&rsquo;s high.<br/><br/> Earlier in the day, data showed that German ZEW economic sentiment fell more-than-expected to -15.1 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Makes It To The 38.2% Retracement Level

Posted: 19 Jul 2011 11:28 AM PDT

The USDCHF corrected and held support against the 100 hour MA and used the successful test as a springboard to the 38.2% retracement of the move down from the July 7th high to the July 13th low. The level comes in at the 0.82451 level and some profit takers (intraday) have entered. 
The spike move to the upside is a straight line.  Trader's looking for continued upside may see some consolidation/profit taking on the move. The support comes in at the 0.8231 and 0.8220 levels now. A … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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