Friday, August 26, 2011

DailyMarkets.com - CIT Unveils New Credit Facility

DailyMarkets.com - CIT Unveils New Credit Facility

CIT Unveils New Credit Facility

Posted: 26 Aug 2011 10:05 AM PDT

CIT Group Inc. (NYSE:CIT) announced a new revolving credit facility of $2 billion with a consortium of key relationship banks. The new credit facility with an interest rate of LIBOR +2.00-2.75% (with no floor) would mature in August 2015. The interest rate is based on CIT's long term senior unsecured credit rating.
CIT commented that the credit facility along with the available corporate cash would be utilized to fully repay and terminate its $2.5 billion first lien term loan. The revolving … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AES Allocates Funds In Brazil

Posted: 26 Aug 2011 10:05 AM PDT

Independent power producer, The AES Corporation (NYSE:AES) announced that it is planning to invest R$1.1 billion ($683 million) in Brazil via its Brazilian arm AES Tiete. The new investment will increase its energy-generation capacity in the state of Sao Paulo enabling it to meet the conditions of a court order. A court has ordered AES Corporation to enhance its power-generation capacity in Sao Paulo after it failed to meet the terms of the state-owned utility’s purchase agreement in 1999.
This … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Caterpillar Lowered To Neutral

Posted: 26 Aug 2011 09:35 AM PDT

Caterpillar Inc. (NYSE:CAT) posted a strong second quarter with EPS surging 58% and sales jumping to an all-time quarterly record on the back of increase in machine demand and continued economic growth. However, results failed to meet the Zacks Consensus Estimate.
Further, with the Bucyrus acquisition on track, the company is positioned to be the #1 mining equipment manufacturer in the U.S. and will also have a strong footing in China and India, the major mining markets. However, headwinds from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fred Posts In-line 2Q, Ups Outlook

Posted: 26 Aug 2011 09:35 AM PDT

Fred’s Inc. (NASDAQ:FRED) posted adjusted earnings of 14 cents in its second-quarter 2011, in line with adjusted earnings in the prior-year quarter and the Zacks Consensus Estimate.
Taking into account the higher income tax rate, Fred's net income increased 3% to $5.1 million or 13 cents per share compared with net income of $5.0 million or 13 cents per share in the prior-year quarter.
Fred’s results have showed consistent gains in the quarter due to increased customer traffic and comparable … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Shire’s Firazyr Cleared In The US

Posted: 26 Aug 2011 09:05 AM PDT

Recently, the US Food and Drug Administration (FDA) delivered a boost to Shire (NASDAQ:SHPGY) by approving its drug Firazyr (icatibant). The US regulatory body has granted marketing approval to the drug for treating adults suffering from acute attacks of hereditary angioedema (HAE). HAE is a rare genetic disease characterized by acute swelling of the hands, feet, face and larynx.
The approval of injectable therapy Firazyr was granted on the basis of data from three double-blind, randomized … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Unilife Unveils Unifill EZMix

Posted: 26 Aug 2011 09:05 AM PDT

Retractable syringes maker Unilife Corporation (UNIS) reported that it has developed the Unifill EZMix multiple-chamber ready-to-fill (prefilled) syringe for lyophilized (dried by freezing) drugs and vaccines requiring reconstitution. The Pennsylvania-based company is also patenting for the new device.
Unifill EZMix is the world's first and only dual or multi-chamber prefilled syringe with a built-in safety mechanism. It comprises two or more drug containers within a single glass barrel to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD’s Loud Noise Causing Whiplash Within The 1.4350-1.4450 Range; Breaking To The Upside

Posted: 26 Aug 2011 08:52 AM PDT

Prev: USD Crosses Continue Directionless Trading Ahead of Jackson Hole (8/24)
EUR/USD

UDPATE: As I was wrapping up this article, the market is breaking above 1.4450. So, let's anticipate the rally towards the 1.45-1.4517 high and if we can close above that today. Still, be careful of volatile action below 1.4517.
EUR/USD's recent volatility has been high, but contained within the ranging context. If is watching soup boil through a transparent pressure cooker.
The lid is at 1.4450 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Gains In Early U.S. Trade

Posted: 26 Aug 2011 08:48 AM PDT

Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – The euro moved higher against the U.S. dollar in early trade Friday, following the release of weak economic numbers and a much-anticipated speech by Federal Reserve Chairman Ben Bernanke.</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>EUR/USD hit 1.4329 in early U.S. trade, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down Toward The End Of European Session

Posted: 26 Aug 2011 08:40 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on GDP.<br/><br/> USD/JPY was trading at 76.61, down 1.11% at time of writing.<br/><br/> The pair was likely to find support at 76.47, Tuesday&rsquo;s low, and resistance at 77.70, Thursday&rsquo;s high.<br/><br/> Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Exelon Acquires Wolf Hollow Assets

Posted: 26 Aug 2011 08:35 AM PDT

Exelon Corporation (NYSE:EXC), yesterday, acquired Wolf Hollow, a combined-cycle natural gas-fired power plant, for a price of $305 million.
The acquisition of Wolf Hollow adds about 720 megawatts of clean energy to Exelon Generation's portfolio in the competitive Electric Reliability Council of Texas (ERCOT) power market. The addition of this efficient combined-cycle natural gas-fired plant to Exelon's ERCOT portfolio will generate long-term value for the company.
The acquisition will also … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Up Toward The End Of European Session

Posted: 26 Aug 2011 08:25 AM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on GDP.<br/><br/> GBP/USD was trading at 1.6296, up 0.10% at time of writing.<br/><br/> The pair was likely to find support at 1.6209, today&rsquo;s low, and resistance at 1.6571, Tuesday&rsquo;s high.<br/><br/> Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The “Forgotten” Precious Metal

Posted: 26 Aug 2011 08:18 AM PDT

Friday, August 26, 2011
Platinum normally trades above the price of Gold, and with this premium narrowing considerably lately, some traders with a longer-term prospective may wish to explore buying Platinum and selling Gold. Platinum futures trade in a 50-ounce contract, and the standard Gold contract is 100 ounces, so those trading this spread would want to buy 2 platinum futures and sell 1 standard Gold futures contract. As of this writing, April 2012 Platinum is trading at a 60.70 premium to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Bounces Off Yesterday’s Low. No Desire To Extend Lower.

Posted: 26 Aug 2011 08:12 AM PDT

The 1.4327 was the low from yesterday and it is the low from today. If the market was intent on selling and trending the chance was there to push it through the low and extend the range.  Instead profit takers came in and bought the pair - moving the price back higher…quickly. 
The price  has pushed back higher and tests the close from yesterday at the 1.4378 level and the 38.2% of the days range at 1.4378. The high has reached 1.4381 so … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Healthways Stays Neutral

Posted: 26 Aug 2011 08:05 AM PDT

We reiterate our Neutral rating on Healthways Inc. (NASDAQ:HWAY). Its second-quarter fiscal 2011 earnings of 17 cents a share missed the Zacks Consensus Estimate by a penny.
The Healthways model encourages people to make favorable lifestyle changes that lead to enhanced well-being, reduced healthcare costs, improved performance and economic value for customers. The company has invested in technology platforms that provide scalable support with large populations. It has tie-ups with 80% of U.S. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Deal Wins Continue For Accenture

Posted: 26 Aug 2011 08:01 AM PDT

Technology, outsourcing and consulting company Accenture Plc. (NYSE:ACN) is currently witnessing surge in deal wins and is fast building up its order book position, which is expected to help the company generate sustainable revenue stream going forward.
The company recently won a three-year contract from the U.S. Department of the Navy worth $5.9 million. The government department has chosen Accenture Federal Services to support the Navy's Financial Improvement Program (FIP). The company will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SINA Faces Strict Regulations

Posted: 26 Aug 2011 08:01 AM PDT

Chinese micro-blog "weibo" provider, SINA Corp. (SINA) is expected to face stiff regulatory control over Internet content, according to a recent report by Chinese newspaper Beijing Daily.
Beijing Daily, which is backed by the Communist Party of China, quoted party leader Liu Qi, who warned Chinese Internet companies including SINA to tighten control over online material, particularly sensitive information that spreads dissent among the general public. The Beijing Internet Media Association, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wall Street Opens Lower, Reverse Weakness After Bernanke

Posted: 26 Aug 2011 08:00 AM PDT

08/26/11 US Q2 GDP and the U. of Michigan’s consumer sentiment index came in below forecasts. Fed Chairman Bernanke said the FOMC would consider options at the September … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down During The European Session

Posted: 26 Aug 2011 08:00 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on GDP.<br/><br/> EUR/USD was trading at 1.4359, down 0.14% at time of writing.<br/><br/> The pair was likely to find support at 1.4328, Thursday&rsquo;s low, and resistance at 1.4500, Tuesday&rsquo;s high.<br/><br/> Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CHF In Sharp Range Breakout After Bernanke Puts Away QE3; Targets 0.8240, 0.8525

Posted: 26 Aug 2011 07:53 AM PDT

Prev: USD Continues Directionless Trading Ahead of  Jackson Hole (8/24)
USD/CHF

The USD/CHF broke above the 0.80 resistance as Bernanke proposes no plan for stimulus measures, shelving QE3, as many expected by the second half of this week.
You can tell the market was on a bullish stance as it respected the 200SMA, and stayed at the upper half of the recent range.
The break above 0.80, has a swing projection towards 0.8230-0.8240 (taking the width of the range 0.80 to 0.7765) and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/JPY Down In European Trading Hours

Posted: 26 Aug 2011 07:40 AM PDT

Forexpros – The British Pound was lower against the Japanese Yen on Friday after the release of U.S. data on GDP.<br/><br/> GBP/JPY was trading at 124.87, down 1.00% at time of writing.<br/><br/> The pair was likely to find support at 124.51, today&rsquo;s low, and resistance at 127.33, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose less-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Corrects Quickly To 1.4396 And Falls Back Off

Posted: 26 Aug 2011 07:37 AM PDT

As per prior post, the 1.4396 level held corrective resistance.  ON the downside the price is pressuring the downside support levels at the 1.4358 and the 1.4346 level (losw from Monday).  THe 1.4327 low for the week is the next target below that with the 1.4309 and 1.4260
On the topside now, the 1.4385-96 remains the area for the price to stay below to keep the bears happy. A move above these levels will muddy the water and likely discourage the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ben Bernanke’s Jackson Hole Speech

Posted: 26 Aug 2011 07:27 AM PDT

The much awaited Jackson Hole speech has been posted to the US Federal Reserve website; below are some highlights.  The first quote is the one most people will be interested in, and refers to the fact that the Fed is optimistic on the long term prospects for the US economy, but that short term weakness should potentially be addressed; there is no obvious tip for a “QE3″, instead the line is that the FOMC has options and will consider the issues and act accordingly.  In other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

No Quick-fix For Economy As Bernanke Demands Fiscal Stimulus

Posted: 26 Aug 2011 07:25 AM PDT

Fed Chief Bernanke attempted to shift some of the burden from the central bank's already-wide shoulders by calling on congress to deliver a short-term fiscal stimulus to aid the economy. The widely anticipated speech failed to address further quantitative easing but reiterated much of what the Fed said in its August 9 policy statement. Bernanke repeated that the economy was not in a good place with the S&P downgrade and the congressional debt-ceiling debacle stalling confidence when the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Steady Below $85 As Investors Await Bernanke Cue

Posted: 26 Aug 2011 01:50 AM PDT

08/26/11 Front month crude remains under $85 this morning as investors await news from Fed Chairman Ben … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Xtract Energy Resumes AIM Trading With New Fundraising For Elko Acquisition

Posted: 26 Aug 2011 01:30 AM PDT

Shares in Xtract Energy (LON:XTR) resumed trading on the Alternative Investment Market this morning as the company announced that its was raising £3 million in a share placing priced at 1.25p per share. The cash has been raised to cover the costs of Xtract's acquisition of Elko Energy Inc and fund the ongoing working capital requirements of the enlarged group. Trading in Xtract was suspended in June while it worked on a deal to buy the balance of Elko – approximately 50% – that it did … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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