Friday, August 5, 2011

DailyMarkets.com - Big Changes Afoot

DailyMarkets.com - Big Changes Afoot

Big Changes Afoot

Posted: 05 Aug 2011 04:38 PM PDT

In case you haven’t noticed, there are big changes afoot in the housing market.
For a growing number of Americans, it’s out with the old…

(From ”Scenes from Surrendered Homes,” How to Be a Retronaut.)
…and in with the new –

(From “The Tent City of New Jersey: Desperate Victims of the Economic Slump Forced to Live in Makeshift Homes in Forest,” The Daily Mail.)
Change you can believe … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Watch List For Next Week

Posted: 05 Aug 2011 03:42 PM PDT

 ( click to enlarge )

MasterCard Incorporated (NYSE:MA) might face a period of sideways action while it consolidates the gains booked in the last sessions. MA has been in a nice uptrend for the last 6 months and it looks very strong with both 50 day and 200 day moving average going up. The stock will face short to medium term resistance at $340.42. Once this level is crossed with good volumes, the stock can go to $372.

  ( click to enlarge )

InterDigital, Inc. (NASDAQ:IDCC) – The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Monetary Policy Week In Review – 6 August 2011

Posted: 05 Aug 2011 03:33 PM PDT

The past week in monetary policy saw 12 central banks reviewing monetary policy settings, with 2 expanding asset buying programs, and just 3 adjusting interest rate levels.  Those that adjusted interest rates were: Pakistan -50bps to 13.50%, Uganda +100bps to 14.00%, and Turkey -50bps to 5.75%; Switzerland also adjusted its interest rate target range downward to halt gains in the Swiss franc.  Meanwhile those that held rates unchanged were: Botswana 9.50%, Uzbekistan 12.00%, Australia … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Whiplash

Posted: 05 Aug 2011 03:18 PM PDT

Cusick’s Corner
What a week. The initial rally at today’s open did not last long, the selling began but then Europe’s response to Italian and Spanish debt problems/default risk helped bring the market back causing more whiplash. There was that bounce because the US relies on exports to Europe to help get us out of this recession while domestic demand remains low. The Fed Reserve meets this Tuesday and the FOMC Rate Decision will be announced after lunchtime. Will QE3 be on the menu? Are there … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Earnings Season Not Done Yet

Posted: 05 Aug 2011 03:15 PM PDT

 
CISCO SYSTEMS (CSCO): Free Stock Analysis … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CF Industries Beats On EPS

Posted: 05 Aug 2011 03:15 PM PDT

CF Industries Holdings Inc. (NYSE:CF) has reported a second quarter EPS of $6.75 versus $1.54 in the year-earlier quarter. This included a non-cash mark-to-market loss on natural gas derivatives, of 12 cents per share.
Excluding this charge, adjusted EPS amounted to $6.87, striding ahead of the Zacks Consensus Estimate of $5.94.
Total sales of $1.8 billion in the reported quarter outperformed the sales of $1.3 billion in the prior-year quarter, missing the Zacks Consensus Estimate of $1.3 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Loss Widens At PMI Group

Posted: 05 Aug 2011 03:15 PM PDT

PMI Group Inc. (NYSE:PMI) reported second-quarter net loss of $1.76 per share, which is wider than the Zacks Consensus Estimate of a loss of 48 cents. Results also deteriorated from the year-ago loss of $1.11 per share.
The quarter continues to suffer due to mortgage losses.
Results include a pre-tax gain of $75.6 million or 47 cents per share representing a decrease in fair market value related to the fair value measurement of certain corporate debt obligations compared with a loss of $47.7 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: DTS Inc.

Posted: 05 Aug 2011 03:03 PM PDT

DTS Inc. (NASDAQ:DTSI) is scheduled to release its second quarter 2011 results after the market closes on August 8, 2011.
Highlights from the Prior Quarter
DTS Inc. reported first quarter 2011 earnings per share (EPS) of 33 cents, beating the Zacks Consensus Estimate by 2 cents. The upside in earnings was driven by strong revenue growth in the quarter.
Revenues increased 23.2% year over year to $26.8 million, edging past the Zacks Consensus Estimate of $26.0 million. The growth was primarily driven … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Loss At MannKind Wider Than Expected

Posted: 05 Aug 2011 03:03 PM PDT

MannKind Corporation's (NASDAQ:MNKD) second quarter 2011 adjusted net loss of $0.33 per share was wider than the Zacks Consensus Estimate of a loss of $0.29. The wider-than-expected loss was attributable to the higher research and development (R&D) expenses incurred during the reported quarter. The company posted a loss of $0.37 in the year-ago quarter.
MannKind did not report any revenues in the second quarter of 2011. The company generated revenues of $0.09 million in the comparable quarter … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Windstream Meets EPS, Beats Revs

Posted: 05 Aug 2011 03:03 PM PDT

Windstream Corporation (NYSE:WIN), a fixed-line voice and DSL Internet service provider, has reported second quarter adjusted earnings per share (EPS) of 19 cents, at par with the Zacks Consensus Estimate.
Adjusted earnings excluded $3 million in merger and integration costs and $2 million in loss on extinguishment of debt, which had a negative impact of a penny. Including these costs, earnings per share rose 6% to 18 cents from 17 cents in the year-ago quarter.
Pro forma revenue increased … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hudson City Upped To Neutral

Posted: 05 Aug 2011 03:03 PM PDT

We are upgrading our recommendation on Hudson City Bancorp Inc. (NASDAQ:HCBK) to Neutral from Underperform. The revision follows a detailed analysis of the company's fundamentals post second quarter results.
Hudson City's second-quarter 2011 operating earnings came in at 19 cents per share, outpacing the Zacks Consensus Estimate by a penny. However, this compared unfavorably with the earnings of 29 cents in the prior-year quarter.
Operating earnings reflected lower interest expense and a reduced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Topic Gets Positive Comps

Posted: 05 Aug 2011 02:35 PM PDT

HOT Topic Inc. (NASDAQ:HOTT) reported positive same-store sales of 7.3% for the month of July, striding ahead of the 0.4% rise in the preceding quarter and leaving behind the 9.0% fall in the year-earlier period.
The company reported the fourth consecutive month of positive same-store sales after 23 months on the trot of negative comparables.  Prior to it, the company had last registered same-store sales growth of 3.1% way back in April 2009.
Hot Topic recorded a 5.5% year-over-year rise in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Teradata Beats, Boosts Outlook

Posted: 05 Aug 2011 02:35 PM PDT

Teradata Corp. (NYSE:TDC) reported second quarter 2011 earnings of 57 cents per share, beating the Zacks Consensus Estimate by a nickel. Earnings per share (EPS), including stock-based compensation of 3 cents, grew 29.5% from 44 cents per share in the year-ago quarter.
Based on the strong quarterly result, Teradata raised its fiscal 2011 revenue and EPS outlook.
Operating Performance
Gross profit was $328.0 million, up 22.4% year over year from $268.0 million in the prior-year quarter. Gross … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BNY Mellon To Charge For Deposits

Posted: 05 Aug 2011 02:35 PM PDT

On Thursday, The Bank of New York Mellon Corporation (NYSE:BK) announced to charge fee on cash deposits of institutional investors following the surge in deposit balance with the banks. Investors having accounts with average deposit of over $50 million in the bank would come under the purview of charges.
BNY Mellon will be charging a 13 basis points annual fee on excess deposits and an extra fee if short-term Treasury bills give negative yields. Yesterday, yields on one-month Treasury bills … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Yale Varsity Tests Medtronic Product

Posted: 05 Aug 2011 02:35 PM PDT

Medtronic (NYSE:MDT) has decided to provide a grant to Yale University to conduct two fully independent third-party reviews for the safety and effectiveness of its recombinant bone morphogenic protein-2 (rhBMP-2). The company will provide Yale with all available patient-data from the clinical trials.
Yale will take the help from a panel of experts and will set up two clinical research organizations to conduct analyses and ensure the findings are reproducible, and of the highest … [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: 05 Aug 2011 02:10 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> EUR/USD was trading at 1.4279, up 1.30% at time of writing.<br/><br/> The pair was likely to find support at 1.4056, Thursday&rsquo;s low, and resistance at 1.4453, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 117K last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 05 Aug 2011 02:05 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> GBP/USD was trading at 1.6394, up 0.84% at time of writing.<br/><br/> The pair was likely to find support at 1.6225, Tuesday&rsquo;s low, and resistance at 1.6476, Monday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stone Energy Beats On Oil Prices

Posted: 05 Aug 2011 02:01 PM PDT

Stone Energy Corp. (NYSE:SGY) reported second-quarter 2011 earnings of $1.17 per share, outpacing the Zacks Consensus Estimate of 98 cents and improving from the year-earlier profit of 57 cents. The outperformance was primarily based on production growth and higher oil price realizations.
Total oil and gas revenue improved 41.4% year over year to $231.9 million in the quarter from the year-ago level of $164.0 million.
Operational Highlights
During the quarter, production averaged 227 million cubic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Novo Nordisk Revenues Up

Posted: 05 Aug 2011 02:01 PM PDT

Basel, Switzerland based Novo Nordisk (NYSE:NVO) reported earnings of $1.36 per American Depository Receipt (ADR), in the second quarter 2011, up 10 cents over the prior-year earnings of $1.26 per ADR. The annualized rise in earnings was driven by higher revenues. Earnings were however 7 cents below the Zacks Consensus Estimate of $1.43.
On a half yearly basis adjusted earnings were $2.69 per ADR, up 29% from $2.08 per ADR in the comparable period last year.
First Half Numbers
Total revenues grew … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 05 Aug 2011 02:00 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Nonfarm Payrolls.<br/><br/> USD/JPY was trading at 78.47, down 0.52% at time of writing.<br/><br/> The pair was likely to find support at 76.31, Monday&rsquo;s low, and resistance at 80.24, Thursday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 117K … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BJ’s Delivers Healthy Sales

Posted: 05 Aug 2011 01:50 PM PDT

BJ's Wholesale Club Inc. (NYSE:BJ), a leading warehouse club operator in the United States, recently posted healthy sales results for the four-week period ended July 30, 2011.
After registering a jump of 7.3% in June 2011, BJ's experienced comparable club sales growth of 9.2% in July. Rising gasoline prices aided comparable club sales by 3.8% during the four-week period. The reported month's comparable club sales growth fared better than 2.8% increase registered in the prior-year period. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Costco Sustains Sales Momentum

Posted: 05 Aug 2011 01:50 PM PDT

Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted healthy sales data for the four-week period ended July 31, 2011.
The company has been able to sustain its sales momentum. After a 14% increase in June 2011, Costco's comparable-store sales for July rose 10%, reflecting a comparable sales growth of 6% at its U.S. locations and 22% at its international divisions. For the forty-eight week period ended July 31, 2011, the company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AES Tops, Backs View

Posted: 05 Aug 2011 01:50 PM PDT

AES Corporation (NYSE:AES) reported second quarter results with adjusted earnings per share (EPS) of 28 cents, 4 cents above the Zacks Consensus Estimate as well as the year-ago figure.
Better performing existing operations coupled with income from new construction projects and acquisition in Northern Ireland aided the company to deliver strong numbers in the quarter under review.
Including currency transaction gain of 1 cent, impairment loss of 4 cents and a debt retirement loss of 1 cent, net … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wyndham, The Resort Under One Roof

Posted: 05 Aug 2011 01:50 PM PDT

Wyndham Worldwide Corporation (NYSE:WYN) has recently acquired substantially all the assets of The Resort Company LLC ("TRC"), an established vacation rental and property management company plus owner of Steamboat Resorts. The financial terms of the deal were not disclosed.
TRC is known for its rental offerings across 28 mountain destinations in Colorado. Names like Lion Square Lodge and Montaneros in Vail, The Lodge at Steamboat, and Trailhead Lodge at Wildhorse Meadows and Dulany in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q2 Results Solid

Posted: 05 Aug 2011 01:35 PM PDT

Brian Marckx, CFA
Q2 2011 Financial Results…

Chembio Diagnostics (CEMI) reported financial results for the second quarter ending June 30, 2011 on August 4th.  Revenue of $3.61 million was about 4% below our $3.78 million estimate.  The difference almost entirely attributable to lower than modeled product sales ($3.33 MM  E vs. $2.97MM A).  While DPP sales to FIOCRUZ handily beat our estimate ($275k E vs. $848k A), this was more than offset by softer than expected revenue … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Major Hurdle Cleared With ISO Certification

Posted: 05 Aug 2011 01:35 PM PDT

Brian Marckx, CFA
Major Hurdle Cleared With ISO Certification

Verisante Technology (VRS) announced in late July that they obtained ISO 13485:2003 certification for manufacture of medical devices.  As we have detailed in our coverage of Verisante, successfully gaining ISO certification was the most significant near-term milestone to gaining regulatory approval of Aura in Canada, Europe and Australia – the expected initial markets for their skin cancer detection device.

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

Meritor Lags Estimates

Posted: 05 Aug 2011 01:35 PM PDT

Meritor Inc. (MTOR) showed a profit of $25 million or 26 cents per share in the third quarter of its fiscal year ended June 30, 2011, falling behind the Zacks Consensus Estimate of 29 cents per share.
However, earnings improved from a loss of $6 million or 6 cents per share in the same quarter of last year. The quarterly profit excluded $7 million of restructuring costs and a $5 million non-operating gain on the collection of a note receivable.
Sales in the quarter soared 33% to $1.29 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Lower Spending Boosts Par Pharma

Posted: 05 Aug 2011 01:35 PM PDT

Par Pharmaceutical Companies Inc. (NYSE:PRX) posted adjusted earnings of 84 cents per share during the second quarter of fiscal 2011, well above the Zacks Consensus Estimate of 76 cents per share, and the year-ago earnings of 71 cents per share. Higher gross margin and lower operating expenses helped boost earnings.
However, on a sequential basis, earnings declined 12.5% during the second quarter.
Revenues
Quarterly revenues of $224.2 million surpassed the Zacks Consensus Estimate of $216 million, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Major Hurdle Cleared With ISO Certification

Posted: 05 Aug 2011 01:35 PM PDT

Brian Marckx, CFA
Major Hurdle Cleared With ISO Certification

Verisante Technology (VRSEF) announced in late July that they obtained ISO 13485:2003 certification for manufacture of medical devices.  As we have detailed in our coverage of Verisante, successfully gaining ISO certification was the most significant near-term milestone to gaining regulatory approval of Aura in Canada, Europe and Australia – the expected initial markets for their skin cancer detection device.

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

Symmetry’s 2Q Mixed, Shaves View

Posted: 05 Aug 2011 01:35 PM PDT

Symmetry Medical's (NYSE:SMA) second-quarter fiscal 2011 adjusted earnings per share of 16 cents beat the Zacks Consensus Estimate by a couple of cents and exceeded the year-ago adjusted earnings of 13 cents.
Adjusted earnings exclude facility consolidation expenses, employee severance payments and management transition costs. Profit (as reported) dipped 6.8% year over year to $4.2 million (or 12 cents a share), hurt by roughly $1.7 million in facility closure and severance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Buckeye Beats Estimates

Posted: 05 Aug 2011 01:35 PM PDT

Buckeye Partners L.P. (NYSE:BPL) announced second-quarter 2011 operating earnings of $1.00 per limited partner unit, surpassing the Zacks Consensus Estimate of 80 cents per unit. The results of the partnership were higher than the year-ago earnings of 58 cents per unit.
Total Revenue
Total revenue of the partnership at the end of the second quarter was $1.07 billion versus $0.67 billion in the year-ago quarter, reflecting a growth of 61.4%.
Revenue of the partnership during the quarter was barely … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Computer Sciences

Posted: 05 Aug 2011 01:35 PM PDT

Computer Sciences Corporation (NYSE:CSC) is scheduled to announce its first quarter 2012 results on August 10, 2011, and we do witness a small variation in analysts' estimates at this point.
Fourth Quarter Recap
Computer Sciences Corporation reported fourth quarter 2011 EPS of $1.01, exceeding the Zacks Consensus Estimate of 96 cents. The company's fourth quarter 2011 revenue of $4.20 billion remained flat year over year. Fiscal 2011 was tough for the company as the NHS contract was further … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Precious Metals As Lifeboats In A Sinking Ship

Posted: 05 Aug 2011 01:26 PM PDT

The musicians are fiddling as the world burns. Global markets are navigating slowly in an ocean of greed, stupidity and compromise. Hundreds of years ago, masses of people took to the streets of Europe dancing madly in a kind of national "moshpit". The cause of this "St. Vitus" mania was never diagnosed.
Today, we are witnessing a similar type of irrational behavior which defies reason. Prominent politicians and economic elites are doing a macabre dance in the grand … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SmartStops.net Introduces New Market Risk Barometer Indicator

Posted: 05 Aug 2011 01:18 PM PDT

 
PALO ALTO, Calif., Aug. 5, 2011 (SEND2PRESS NEWSWIRE) — SmartStops (www.SmartStops.net) announced today the launch of the SmartStops Risk Barometer Index™ or SRBI™. The SRBI is an easy to use metric that helps investors quickly gauge the relative level and direction of risk posed by a specific group of equities such as a particular market or sector.
Derived from the SmartStops individual equity short term risk signal which identifies equities as being in a normal or above normal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Mixed At Close; Dow Jones Up 0.54%

Posted: 05 Aug 2011 01:10 PM PDT

Forexpros – U.S. stocks were mixed after the closing bell on Friday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 0.54%, the S&P 500 index shed 0.06%, while the Nasdaq 100 index declined 0.58%.<br/><br/> Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 117K last month, from 46K in the preceding month whose figure was revised up from 18K.<br/><br/> … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Analyst Interviews: Health Insurance Stock Outlook

Posted: 05 Aug 2011 01:05 PM PDT

Several health insurers posted strong second-quarter results and raised their full-year outlooks. Most of these gains reflected higher enrollment figures, organizational changes and fewer regulatory reform-related losses. Most of them are moving into the third year of record profits, which continue to benefit from a lingering recessionary mind-set among members, who are postponing medical utilization.

Health insurance companies finished strongly in 2010, helped by reduced medical utilization … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EA Unveils Battlefield 3 Editions

Posted: 05 Aug 2011 01:05 PM PDT

Video game developer and publisher, Electronic Arts (NASDAQ:ERTS) better known as EA, announced the launch of two editions of its highly anticipated Battlefield 3 and some unique pre-order items at participating retailers in North America.
Battlefield 3, which has been developed by EA studio DICE, is scheduled for release on October 25, 2011. Battlefield 3 was initially expected to release later in November. According to EA, Battlefield 3 pre-orders are 10 times higher than those of Battlefield: Bad … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hercules Beats By A Nickel

Posted: 05 Aug 2011 01:05 PM PDT

Hercules Technology Growth Capital Inc.'s (NASDAQ:HTGC) second quarter 2011 distributable net operating income (DNOI) came in at 26 cents per share, ahead of the Zacks Consensus Estimate of 21 cents. This also compares favorably with a DNOI of 22 cents in the prior-year quarter.
Better-than-expected results were attributable to a substantial increase in total investment income and improved net realized and unrealized gain, partially offset by higher operating expenses. Additionally, Hercules ended … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RRD Gets Print Management Contract

Posted: 05 Aug 2011 01:05 PM PDT

R.R. Donnelley & Sons Company (NYSE:RRD) won a multi-year print management contract from Herbalife, a nutrition and weight management company.
According to the contract, the company would produce and manage Herbalife's wide range of products, including catalogs, magazines, commercial and digital printing, forms, labels and event marketing materials. For this purpose, R.R. Donnelley will be providing an onsite team as well as its Print Management system, which is expected to cut down on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fidelity Abandons Misys

Posted: 05 Aug 2011 01:05 PM PDT

Fidelity Inc. (NYSE:FIS) recently announced that it has abandoned its plan of acquiring British financial software company Misys Plc., after the two companies failed to reach a consensus regarding the purchase price. Earlier, in late June, Florida-based Fidelity made a preliminary offer to buy Misys for approximately $2.27 billion. However, Fidelity did not give any reason for the decision.
Moreover, the company announced its intention of repurchasing shares under its existing share repurchase … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Falls In U.S. Afternoon Trade

Posted: 05 Aug 2011 12:53 PM PDT

Forexpros – The Japanese yen advanced against the U.S. dollar Friday, as recent yen-weakening moves by the Bank of Japan failed to reverse a wider trend of upward momentum in the Japanese currency.<br /><br />In early Asian trade USD/JPY hit 79.41, the pair&rsquo;s highest since July 14; the pair subsequently consolidated at 78.40, falling 0.6%. &nbsp;<br /><br />The pair was likely to find support at 77.01, Thursday&rsquo;s low, and resistance at 79.41, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gentiva’s Bottom Line Declines

Posted: 05 Aug 2011 12:35 PM PDT

Gentiva Health Services Inc. (GTIV) reported its second-quarter adjusted operating earnings of $15.1 million or 49 cents per share, lagging behind the Zacks Consensus Estimate of 65 cents. The income also compares negatively with $22.7 million or 74 cents earned in the year-ago quarter.
Including the dividend received from CareCentrix, Gentiva's adjusted income from continuing operations for the reported quarter amounts to 58 cents.
The adjusted earnings exclude the impact of legal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Employment Report In Depth, Pt. 1

Posted: 05 Aug 2011 12:35 PM PDT

The economy added a total of  117,000 jobs in July. That is better than consensus expectations for a gain of 84,000. This report was a bit better than the ADP report on Wednesday. That report showed 114,000 private sector jobs created, and the expectations were for the BLS to show 100,000 new private sector jobs.

The "actual" BLS number of private sector jobs was 154,000. Government payrolls declined by 37,000. The Federal Government actually added 2,000 jobs. The State (-23,000) and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ConEd Tops EPS, Sales Miss

Posted: 05 Aug 2011 12:35 PM PDT

Consolidated Edison Inc. (NYSE:ED), also known as ConEd, announced second quarter fiscal 2011 results with pro forma earnings per share (‘EPS’) of 57 cents above the Zacks Consensus Estimate of 53 cents and the prior-year figure of 51 cents. GAAP and pro forma EPS in the reported quarter were the same while GAAP EPS in the prior-year quarter was 65 cents.
The EPS upside was driven by changes in the rate plans of ConEd’s utility subsidiaries. Incremental revenues from revised rate plans helped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Market’s Bringing Ugly Back

Posted: 05 Aug 2011 12:18 PM PDT

Cusick’s Corner
Stock volumes are surging. The market’s bringing ugly back. Selling was brisk earlier but a rebound was in play after the European Central Bank said it would provide support for Italian and Spanish bonds if they agree to certain economic reforms. The market has had its swings today along with the Volatility Index, VIX, which hit 52 week highs of 39.25 earlier in the session but has now given up much of those gains (see Implied Volatility Mover). Don’t put away that whiplash … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Pad Gains In U.S. Trade

Posted: 05 Aug 2011 12:13 PM PDT

Forexpros – Gold futures extended gains Friday, boosted by suggestions from the European Central Bank that it was prepared to buy Italian and Spanish bonds in exchange for promises of financial reforms.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,658.95 a troy ounce during U.S. afternoon trade, climbing 0.73% higher.&nbsp; <br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

InterMune Loss Rise, Costs Flare Up

Posted: 05 Aug 2011 12:05 PM PDT

InterMune Inc. (NASDAQ:ITMN) posted second-quarter adjusted loss per share of 68 cents, wider than the Zacks Consensus Estimate of a loss per share of 61 cents and the year-ago loss per share of 44 cents. Steeper operating expenses resulted in the higher loss in the reported quarter.
InterMune reported revenues of $6.2 million in the second quarter, above the year-ago revenue of $5.9 million and also ahead of the Zacks Consensus Estimate of $5.0 million. Increased collaboration revenue from Roche … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Rise In U.S. Afternoon Trade

Posted: 05 Aug 2011 11:44 AM PDT

Forexpros – Crude oil futures extended gains in U.S. trade Friday, boosted by a weakening dollar against the euro, as the European Central Bank appeared prepared to buy Italian bonds in return for economic reforms.<br /><br />On the New York Mercantile Exchange light, sweet crude futures for September delivery traded at USD86.75, gaining 0.33%, after hitting a daily low of USD83.03.<br /><br />The European Central Bank was reportedly prepared to purchase Italian bonds … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

One Day After Sinking Sentiment, ECB Calms Markets On Talk Of Buying Italian Bonds

Posted: 05 Aug 2011 11:28 AM PDT

Another volatile day in trading as the initial relief rally from the better than expected non-farm payroll data gave way to another round of selling in US equities. However, we had news come in from the Euro-zone sovereign debt situation which seems to have given market sentiment a jolt in the positive direction.

ECB To Buy Italian Bonds As Italy Agrees to Reforms
The euro climbed 2% on the day against the classic safe-haven Swiss franc Friday, following reports that Italy and the European … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Call Spreader Eyes Near-term Turn-around In Valeant

Posted: 05 Aug 2011 11:01 AM PDT

Call spreader eyes near-term turn-around in Valeant
Today's tickers: VRX, DISH, GE & S
(NYSE:VRX) – Valeant Pharmaceuticals, Inc. – Shares in Canada's largest drug maker have lost roughly one-third of their value in just over one week's time, and it looks like one options player is prepared to see the stock recover somewhat in the next couple of weeks. Valeant's shares currently trade 6.15% lower on the session at $38.34. The stock fell sharply on Thursday after the company reported … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FX Markets Volatile & Dollar Drop Continues On Eurozone Debt News

Posted: 05 Aug 2011 09:30 AM PDT

08/05/11 In what has been a see-saw trading day, the dollar has continued its steady decline this afternoon despite strong jobs data on global recession fears and mixed reports out of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chart Of The Week Copper’s Weak Supply Growth

Posted: 04 Aug 2011 10:00 PM PDT

A flurry of weak economic news lately is weighing heavily on copper's price. Recently, the red metal dipped to its lowest since July 25 after a release of weak global manufacturing numbers and concern over global growth.
But demand is only part of the equation for the metal widely used in manufacturing and construction. Macquarie Research says current copper supply shortages are a main reason we could see higher copper prices in the near future.
Like gold, oil and other commodities, copper … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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