DailyMarkets.com - Berkshire Suffers On Cat Loss

---

• Berkshire Suffers On Cat Loss
• Dover Approves Dividend Hike
• AMERCO First Quarter Results
• Smith & Nephew Scores High On Revs
• AK Steel Adds Surcharge
• Dril-Quip Disappoints In Q2
• Quicksilver Beats, Issues Guidance
• Augme Technology To Acquire Hipcricket
• Twin Bank Failures, Tally Hits 63
• Magna Misses, Profits Fall
• Tyson Beats, Provides 2012 Outlook
• Mixed Results In Dynegy 2Q
• McDermott Posts Mixed Bag
• Bond Market: Downgrade No Big Deal
• Keep Calm And Carry On!
• Forex – Dollar Up Vs. Most Rivals, But Lower Against Yen, Franc
• Natural Gas Futures Drop To 5-month Low On U.S. Demand Outlook
• Forex Trading: USD/JPY Drops Further, Continued Intervention Consideration
• Italian And Spanish Yields Ease, But Euro Slumps On Germany’s Comments On EFSF
• Forex – GBP/USD Erases Gains As EU Debt, US Downgrade Weigh
• Risk Aversion Bringing GBP/JPY To The Critical 127.00 Pivot
• Forex Trading: EURUSD Cannot Get Back Above 1.4186
• Forex – EUR/USD Extends Losses As ECB Optimism Ebbs
• Steep Decline In Crude Prices Following S&P Downgrade
• Heritage Oil Begins Drilling Miran West-3 Well In Kurdistan
• Chariot Oil Amp; Gas Partners With BP On Namibian Acreage

Berkshire Suffers On Cat Loss Posted: 08 Aug 2011 10:02 AM PDT Berkshire Hathaway Inc. (BRK.A) (BRK.B) reported its second quarter 2011 operating earnings of $1.80 per share, which marks a 12% year-over-year drop. The deterioration was caused by a decline in operating earnings from its insurance businesses that suffered due to high catastrophe claims. However, net income, which includes investment and derivatives, came in at $2.3 per share, up 77% year over year. The surge in net income was attributable to a gain of $713 million in investment and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dover Approves Dividend Hike Posted: 08 Aug 2011 10:01 AM PDT To return more value to its shareholders, the board of directors of Dover Corporation (NYSE:DOV) authorized an increase of 14.5% in its quarterly dividend. The increased dividend of 31.5 cents per share is expected to be paid on September 15 to shareholders of record as on August 31. The company hiked the dividend from 27.5 cents a share paid on June 15, 2011. With this approval to increase the dividend, Dover registered the 56th consecutive year of paying higher dividend.  Previously, Unum … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AMERCO First Quarter Results Posted: 08 Aug 2011 09:35 AM PDT Ian Gilson, CFA AMERCO First Quarter Results There is no fundamental reason for the recent decline except for the weakness in the overall market. The company does not need to access the debt market over the near term. They have always balanced interest rates with lease rates to obtain the best financing costs. We are keeping our target prices at $110. On August 3, 2011 AMERCO (UHAL) announced its 2012 first fiscal quarter results, followed by a conference call on August 4, 2011. Revenue from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Smith & Nephew Scores High On Revs Posted: 08 Aug 2011 09:35 AM PDT Smith & Nephew (NYSE:SNN) reported an adjusted EPS of 18.1 cents (EPADS of 91 cents) during the second quarter of fiscal 2011, higher than the year-ago quarter's 17.1 cents (EPADS of 8 cents). However, the earnings missed the Zacks Consensus Estimate (ADS) of 94 cents. The company reported revenues of $1,077 million in the quarter, up 5% (underlying, after considering currency translation) from the year-ago period and higher than the Zacks Consensus Estimate of $1,044 million. Moreover, one … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AK Steel Adds Surcharge Posted: 08 Aug 2011 09:35 AM PDT AK Steel Holding Corporation (NYSE:AKS) added a surcharge of $460 per ton for a broad range of electrical steel products that it produces. This surcharge will be reflected in the invoices of electrical steel products to be shipped in September 2011. The surcharge is calculated on the basis of reported prices for raw materials and energy used to manufacture products coupled with the July 2011 purchase cost. The company stated that previously it told its stainless steel customers that it will change … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dril-Quip Disappoints In Q2 Posted: 08 Aug 2011 09:35 AM PDT Dril-Quip Inc. (NYSE:DRQ) has reported second-quarter 2011 earnings of 55 cents per share, missing the Zacks Consensus Estimate of 58 cents and deteriorating 21.4% from the year-ago profit level of 70 cents. The underperformance was mainly due to the decrease in sales of offshore rig equipment. The company registered total revenue of $137.0 million in the quarter, down 3.5% from the year-ago level of $142.0 million. Operating income fell more than 22% to $30.4 million in the quarter from the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Quicksilver Beats, Issues Guidance Posted: 08 Aug 2011 09:35 AM PDT Quicksilver Resources Inc. (NYSE:KWK) reported second quarter 2011 adjusted earnings per share (EPS) of 7 cents, substantially lower than the year-ago figure of 18 cents. Earnings during the quarter however beat the Zacks Consensus Estimate by a penny. On a GAAP basis, the company reported earnings of 61 cents per share compared with earnings of 49 cents per share in the year-ago quarter. The difference between GAAP and operating earnings during the quarter was due to a non-cash gain of $19 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Augme Technology To Acquire Hipcricket Posted: 08 Aug 2011 09:05 AM PDT Ian Gilson, CFA Augme Technology to acquire Hipcricket. On August 3, 2011 Augme (AUGT) entered into an Asset Purchase Agreement with Hipcricket Inc. to acquire Hipcricket and assume certain liabilities to be determined at the closing of the deal. The deal should close in the current fiscal quarter ending August 31, 2011. The purchase price is $4 million in cash plus $38.5 million in Augme stock, up to $2 million to     Hipcricket stock option holders and an earn-out of up to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Twin Bank Failures, Tally Hits 63 Posted: 08 Aug 2011 09:05 AM PDT Bank failures continue unabated as the U.S. regulators closed down two more banks in Illinois and Washington last Friday. This brings the number of U.S. bank failures to 63 so far in 2011, preceded by 157 in 2010, 140 in 2009 and 25 in 2008. While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging issues like rock-bottom home prices along with still-high loan defaults and unemployment levels … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Magna Misses, Profits Fall Posted: 08 Aug 2011 08:50 AM PDT Magna International Inc. (NYSE:MGA) posted a decrease in profit to $272 million or $1.11 per share in the second quarter of the year from $315 million or $1.39 per share in the prior-year quarter (all excluding unusual items). With this, the company has missed the Zacks Consensus Estimate of $1.36 per share. Revenues in the quarter rose 24% to $7.34 billion driven by increase in sales in all its operations. However, operating income decreased by $5 million to $362 million in the second quarter of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tyson Beats, Provides 2012 Outlook Posted: 08 Aug 2011 08:50 AM PDT Tyson Foods Inc. (NYSE:TSN) reported its third-quarter 2011 adjusted earnings of 56 cents a share, surpassing the Zacks Consensus Estimate of 40 cents. Profits were driven by higher sales as well as strong performance in all the segments, particularly Beef and Pork segments. The adjusted earnings in the quarter excluded a $21 million, or 5 cents per share, related to a reversal of reserves for foreign uncertain tax positions. Revenue and Margins Net sales recorded a growth of 10.9% to $8.2 billion … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Mixed Results In Dynegy 2Q Posted: 08 Aug 2011 08:50 AM PDT Dynegy Inc. (NYSE:DYN) reported second quarter adjusted loss of 31 cents per share ($38 million) lower than the Zacks Consensus loss estimate of 47 cents. However, the company had incurred a loss of only 24 cents ($29 million) in the prior-year period. Including one-time items, Dynegy's second quarter net loss was $116 million or 95 cents per share compared with a net loss of $191 million or $1.59 per share in second quarter of 2010. Operational Results In the second quarter, Dynegy generated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

McDermott Posts Mixed Bag Posted: 08 Aug 2011 08:50 AM PDT Energy-focused engineering and construction company  McDermott International (NYSE:MDR) has reported mixed second quarter 2011 earnings following improved sales and higher operating costs. The company reported earnings per share from continuing operations of 27 cents in the quarter, lagging the Zacks Consensus Estimate of 32 cents and deteriorating 20.6% from 34 cents earned in the prior-year quarter. The underperformance can be attributed to weaker marine operations in the Middle East … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bond Market: Downgrade No Big Deal Posted: 08 Aug 2011 08:35 AM PDT One of the big fears is that the S&P downgrade will cause the interest that the U.S. has to pay on its bonds to skyrocket. After all, if there is a chance that you will not get paid back, a bond holder should demand a higher interest rate on the bond to compensate. That is why junk bonds are the same thing as high yield bonds. So what is the bond market saying about longer-term U.S. treasuries in the wake of S&P's change in opinion about the credit worthiness of the U.S. government? … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Keep Calm And Carry On! Posted: 08 Aug 2011 08:17 AM PDT Monday, August 8, 2011 High volatility makes trading futures outright difficult for many traders who wish to avoid the wild price swings that may scare them out of longer-term trades. These traders may possibly wish to consider exploring the options on futures markets for potential strategies that may benefit from catching a longer-term move in a commodity, but which also limit the potential risks should the market move against their position. December Crude Oil futures have fallen over $16.00 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Up Vs. Most Rivals, But Lower Against Yen, Franc Posted: 08 Aug 2011 08:11 AM PDT Forexpros – The U.S. dollar was higher against most of its major counterparts on Monday, following standard &amp; Poor&rsquo;s historic downgrade of U.S. sovereign debt, while safe haven demand boosted the yen and the Swiss franc.<br /><br />During U.S. morning trade, the greenback was up against the euro, with EUR/USD sliding 0.43% to hit 1.4217.<br /><br />The euro was higher earlier after the ECB said in a statement late Sunday that it &ldquo;will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Drop To 5-month Low On U.S. Demand Outlook Posted: 08 Aug 2011 07:50 AM PDT Forexpros – Natural gas futures were down on Monday, slumping to a five-month low as moderating weather forecasts in the U.S., ample supplies and concerns over the U.S. economic outlook dragged down prices. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD3.901 per million British thermal units during U.S. morning trade, dropping 1.35%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br />It earlier fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USD/JPY Drops Further, Continued Intervention Consideration Posted: 08 Aug 2011 07:45 AM PDT USD/JPY (4-hour chart) as of Monday (8/08/2011) has continued its steady, yen-strengthening fall after spiking late last week to a high of 80.22 on the heels of intervention by the Bank of Japan. This yen re-strengthening after the central bank's attempt to weaken the yen essentially indicates that the intervention has had very little lasting impact on the upward trajectory of the Japanese currency. The fact that USD/JPY has dropped below key 78.50 support once again is an important bearish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Italian And Spanish Yields Ease, But Euro Slumps On Germany’s Comments On EFSF Posted: 08 Aug 2011 07:40 AM PDT Despite Trichet taking out his "bazooka" – the ECB agreeing to buy Italian and Spanish bonds – the relief period in the EUR/USD and other EUR crosses has been short lived. The announcement by the ECB certainly worked to lower the yields on both Italian and Spanish bonds, and helped to boost the share prices of Spanish and Italian banks, but it was concerns over the global economy and position shifting in the wake of the US downgrade that caused other sectors in Europe –  miners, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Erases Gains As EU Debt, US Downgrade Weigh Posted: 08 Aug 2011 07:35 AM PDT Forexpros – The pound erased gains against the U.S. dollar on Monday, pulling back from a one-week high as an historic downgrade of the U.S. debt rating and fears over sovereign debt contagion in the euro zone weighed on risk appetite.<br /><br />GBP/USD pulled back from 1.6475, the pair&rsquo;s highest since August 1, to hit 1.6320 during U.S. morning trade, falling 0.45% on the day. <br /><br />Cable was likely to find support at 1.6227, last Friday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Risk Aversion Bringing GBP/JPY To The Critical 127.00 Pivot Posted: 08 Aug 2011 07:32 AM PDT Prev: Forex Notes: a Look at USD/JPY EUR/JPY and GBP/JPY Post Japanese-Yen-Intervention (8/4) GBP/JPY Bearish Continuation - It is looking more and more apparent that the intervention is not able to cap Japanese strength in our current risk-off environment. - The GBP/JPY is pushed back to a critical support at 127.00. Falling below this and then 126.68 near the 61.8% retracement suggests bearish continuation. - If the market can hold below 127.50, we can be heading towards some common lows … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Cannot Get Back Above 1.4186 Posted: 08 Aug 2011 07:28 AM PDT The 1.4186 level represented the 50% of the move up from the July low to the high reached in late July (see chart above).  That level was broken in the NY session and over the last few hours the price has steadlied but has found difficulty in pushing back above this level. The 5 minute chart clearly shows the markets reluctance to move above this level. The inability to move above this level could lead to any intraday dip buyers liquidating their longs (a new move … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Extends Losses As ECB Optimism Ebbs Posted: 08 Aug 2011 07:22 AM PDT Forexpros – The euro extended losses against the U.S. dollar on Monday, after a move by the European Central Bank to purchase Italian and Spanish government bonds failed to ease fears that the debt crisis could spill over to the region&rsquo;s third and fourth largest economies.<br /><br />EUR/USD retreated from 1.4425, the pair&rsquo;s highest since August 1, to hit 1.4169 during U.S. morning trade, slumping 0.76% on the day.<br /><br />The pair was likely to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Steep Decline In Crude Prices Following S&P Downgrade Posted: 08 Aug 2011 07:15 AM PDT 08/08/11 Front month crude prices continued to plummet this morning, trading below $83 barrel following the S&P downgrade to the US AAA credit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Heritage Oil Begins Drilling Miran West-3 Well In Kurdistan Posted: 08 Aug 2011 02:23 AM PDT Heritage Oil (LON:HOIL), the FTSE 250 exploration and production group, has commenced drilling the Miran West-3 well in the Kurdistan Region of Iraq. The drilling marks Heritage's first appraisal well on the field since two wells early in 2011 resulted in what it claimed was the discovery of the largest gas field in Iraq for the last 30 years. The primary objective of the Miran West-3 well is to appraise the Miran West structure and it will target both the Jurassic and Cretaceous reservoir … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chariot Oil Amp; Gas Partners With BP On Namibian Acreage Posted: 08 Aug 2011 01:35 AM PDT Chariot Oil Gas (LON:CHAR) , the oil and gas group with operations offshore Namibia, reported this morning that industry giant BP (LON:BP.) had agreed to take a 50% share of Chariot's equity interest in Southern Block 2714A. The move means that Chariot and BP will each have a 25% stake in the licence, with Chariot's existing partner Petrobas holding 50%. Under the terms of the agreement, BP has committed to cover Chariot's cost of drilling the first exploration well, as well as past costs … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

You are subscribed to email updates from DailyMarkets.com To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610