DailyMarkets.com - Core-Mark Misses, Ups Outlook

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• Core-Mark Misses, Ups Outlook
• Baidu Sheds “Shuoba”, Sina Surges
• Did The Fed’s Comments Trigger A Buy Signal For Commodities?
• Forex – USD/JPY Down On Economic Data
• Earnings Scorecard: NSC
• U.S. UoM Consumer Sentiment Falls More-than-expected
• Forex – NZD/USD Down During The European Session
• Early Rebound For Equities Keeps Dollar On Back Foot
• Happy Cost Of Government Day: August 12
• Gaming Industry Outlook Is Murkier
• NZD/USD Follows 5-Wave Decline With A Gartley To 78.6% Retracement
• Harman Misses 4Q Estimates
• Forex – EUR/CHF Up In European Trade
• Australian Dollar: Technical Rebound In A Bearish Trend
• Canadian Dollar: Technical Rebound In A Bearish Trend
• Swiss Franc: The Downside Prevails
• Japanese Yen: Under Pressure
• Euro: The Downside Prevails
• British Pound: Under Pressure
• MNKD Confirms Afrezza Study Design
• The Consumer Is Alive
• Stock Market News Briefs: Advance Auto Parts Inc, Capital One Financial, General Motors, Pan American Silver Corp., Elizabeth Arden, Sara Lee, Wells Fargo & Company
• Forex – USD/CAD Up In European Trading Hours
• CEG To Serve Pennsylvania
• Excel Maritime To Underperform
• Retail Sales Break Recent Downtrend With July Release, US Data Stream Turning Around?
• EUR/USD Attempting A Bullish Breakout After Decent US Retail Sales Figures
• Forex – EUR/USD Up On Economic Data
• U.S. Retail Sales Rise
• U.S. Core Retail Sales Rise More-than-expected
• European Equities Rally On Naked Short-Ban, Industrial Output Slides, France GDP Flat
• Neutral On V.F. Corporation
• FWLT In 2nd Phase Of Refinery Upgrade
• Forex – EUR/GBP Up During The European Session
• Forex – GBP/CHF Up In European Trade
• USD/CAD: Double Top Or Completed ABC Correction; 0.9910 Is A Critical Pivot
• Forex – EUR/JPY Down In European Trading Hours
• Forex – USD/CHF Up During The European Session
• Crude Oil To Rise, Gold To Fall As Wall Street Recovery Continues

Core-Mark Misses, Ups Outlook Posted: 12 Aug 2011 07:20 AM PDT San Francisco, California-based Core-Mark Holding Company, Inc. (NASDAQ:CORE) recently posted second quarter 2011 adjusted earnings of 81 cents per share, below the Zacks Consensus Estimate of 91 cents per share, but better than the year-ago performance of 76 cents per share. The year-over-year upside was driven by double-digit growth in the top line and margin expansion. The company, which distributes packaged consumer products to the retail industry, reported net sales of $2.04 billion, up 11.2% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Baidu Sheds “Shuoba”, Sina Surges Posted: 12 Aug 2011 07:20 AM PDT Yesterday, share prices of Chinese micro-blog "weibo" provider SINA Corp. (NASDAQ:SINA) witnessed a surge of 7.0% ($6.82), following the announcement that Baidu Inc.'s (NASDAQ:BIDU) micro-blog platform "Shuoba" was shutting down. Baidu, which is the largest search engine in China, launched Shuoba in the latter half of 2010. Although the company did not provide any reason for the closure, analysts estimate Shuoba’s stringent real name verification criterion was the primary reason behind the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Did The Fed’s Comments Trigger A Buy Signal For Commodities? Posted: 12 Aug 2011 07:18 AM PDT Friday, August 12, 2011 If food inflation does take hold in the coming months, the price of Corn futures in 2012 may stay at historically elevated levels, especially if US production does come in below current USDA estimates and ending stocks become extremely tight next year. Some more aggressive traders may wish to explore selling fairly deep out-of-the-money puts in Corn futures options going out to 2012, with the expectation that either Corn prices will hold above the strike price sold or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Down On Economic Data Posted: 12 Aug 2011 07:15 AM PDT Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/JPY was trading at 76.72, down 0.16% at time of writing.<br/><br/> The pair was likely to find support at 76.31, Thursday&rsquo;s low, and resistance at 78.34, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: NSC Posted: 12 Aug 2011 07:05 AM PDT Norfolk Southern Corp. (NYSE:NSC), one of the leading U.S. railroads, reported second quarter 2011 results on July 26. Adjusted earnings of $1.38 surpassed the Zacks Consensus Estimate by 9 cents and were 18 cents above the year-ago earnings. Second Quarter Review The highway-to-railway shift in shipments on the heels of rising fuel prices and tight truck capacity worked in favor of the railroad industry and propelled record second quarter results. Total revenue improved year over year beating the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. UoM Consumer Sentiment Falls More-than-expected Posted: 12 Aug 2011 07:05 AM PDT Forexpros – U.S. UoM consumer sentiment fell more-than-expected last month, preliminary data showed on Friday.<br/><br/>In a report, the University of Michigan said that consumer sentiment fell to a seasonally adjusted 54.9, from 63.7 in the preceding month.<br/><br/>Analysts had expected UoM consumer sentiment to fall to 63.0 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down During The European Session Posted: 12 Aug 2011 06:50 AM PDT Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Friday after the release of U.S. data on Core Retail Sales.<br/><br/> NZD/USD was trading at 0.8295, down 0.29% at time of writing.<br/><br/> The pair was likely to find support at 0.7966, Tuesday&rsquo;s low, and resistance at 0.8413, Tuesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core retail sales rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Early Rebound For Equities Keeps Dollar On Back Foot Posted: 12 Aug 2011 06:48 AM PDT Currency trading has calmed after a frenzied week during which the yen surged to the point that bulls handed the Bank of Japan every reason under the rising sun to intervene for a second week running. The dollar jumped in both directions. Its typical safe haven status has been weakened by the threat of quantitative easing. That threat eased even after the Fed said it might intervene again and guaranteed a freeze on rates for two years. The slide in the yield curve ironically created a hurdle to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Happy Cost Of Government Day: August 12 Posted: 12 Aug 2011 06:36 AM PDT Americans for Tax Reform — “Cost of Government Day (COGD) is the date of the calendar year on which the average American worker has earned enough gross income to pay off his or her share of the spending and regulatory burden imposed by government at the federal, state and local levels. Cost of Government Day for 2011 is today, August 12. On average, workers must toil 224 days out of the year just to meet all costs imposed by government. In other words, the cost of government consumes 61.42% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gaming Industry Outlook Is Murkier Posted: 12 Aug 2011 06:35 AM PDT Amid the economic turmoil that has shrouded the U.S. for the last couple of weeks, the gaming industry seems to be the latest victim as figures released by The NPD Group, a market research firm,  reported that the gaming industry has shrunk 26.0% in July from the comparable-previous year. It was the sharpest fall since October 2006. July's decline was the industry's third-straight month when U.S. sales of video games' hardware, software and accessories contracted in double digits. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NZD/USD Follows 5-Wave Decline With A Gartley To 78.6% Retracement Posted: 12 Aug 2011 06:32 AM PDT Prev: NZD/USD in a Bearish Continuation after an ABC Correction (8/10) NZD/USD Negative Reversal and Bearish Targets- The NZD/USD completed a Gartley 8/9 and a sharp sell-off followed. However that sell-off did not materialize in a bearish continuation. Instead, it was just a "bear-trap" ahead of further consolidation. - This next phase of consolidation has so far rallied in a 3-wave manner, or ABC structure. With C=A, this is a completed Gartley as well. - Note also that this was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Harman Misses 4Q Estimates Posted: 12 Aug 2011 06:30 AM PDT A developer of audio products and electronic systems, Harman International Industries Inc. (NYSE:HAR) reported fourth quarter 2011 earnings of 34 cents per share, which substantively missed the Zacks Consensus Estimate of 52 cents by 18 cents. Earnings per share (EPS) increased 13.3% year over year from 30 cents reported in the prior-year quarter. Operating Performance Gross profit increased 10.3% year over year to $247.0 million. However, gross margin declined 240 basis points (bps) to 23.9% in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Up In European Trade Posted: 12 Aug 2011 06:25 AM PDT Forexpros – The Euro was higher against the Swiss Franc on Friday after the release of U.S. data on Core Retail Sales.<br/><br/> EUR/CHF was trading at 1.0998, up 1.40% at time of writing.<br/><br/> The pair was likely to find support at 1.0083, Tuesday&rsquo;s low, and resistance at 1.1048, today&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core retail sales rose more-than-expected to a seasonally adjusted 0.5% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: Technical Rebound In A Bearish Trend Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Dollar: Technical Rebound In A Bearish Trend Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japanese Yen: Under Pressure Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro: The Downside Prevails Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

British Pound: Under Pressure Posted: 12 Aug 2011 06:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MNKD Confirms Afrezza Study Design Posted: 12 Aug 2011 06:15 AM PDT MannKind Corporatin (NASDAQ:MNKD) recently announced that it has confirmed with the US Food and Drug Administration (FDA) the design of the clinical trials for its diabetes candidate, Afrezza. In the complete response letter (CRL) issued in January 2011, the regulatory body had asked MannKind to conduct two trials of Afrezza, one in patients with type I diabetes and one in patients with type II diabetes. In Study 171, which will be conducted on patients with type I diabetes, patients will be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Consumer Is Alive Posted: 12 Aug 2011 06:15 AM PDT Following a record four back-to-back 400+-point moves in the Dow, will we close the week on an equivalent sized move on Friday as well? There is certainly no shortage of data, both here from the U.S. as well as from across the pond in Europe, that can provide the catalysts for moves in any direction. But if we have learned anything from the rollercoaster ride of recent days, it is that foretelling the direction of the market’s day-to-day moves has become extremely difficult, if not altogether … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Advance Auto Parts Inc, Capital One Financial, General Motors, Pan American Silver Corp., Elizabeth Arden, Sara Lee, Wells Fargo & Company Posted: 12 Aug 2011 06:15 AM PDT     Pan American Silver Corp (NASDAQ:PAAS) posted Q2 EPS of $0.71, lower than the Zacks Consensus Estimate of $0.74 per share. Revenues rose 57.4% year-over-year to $231.9 million, missing the Zacks Consensus Estimate of $282.0 million     FXCM (FXCM) reported Q2 EPS of $0.19, which came in below the Zacks Consensus Estimate of $0.20 per share. Revenues for the quarter rose 9.2% year-over-year to $103.4 million, beating the Zacks Consensus Estimate of $78.0 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up In European Trading Hours Posted: 12 Aug 2011 06:10 AM PDT Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of U.S. data on Core Retail Sales.<br/><br/> USD/CAD was trading at 0.9864, up 0.24% at time of writing.<br/><br/> The pair was likely to find support at 0.9767, Tuesday&rsquo;s low, and resistance at 1.0010, Tuesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core retail sales rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CEG To Serve Pennsylvania Posted: 12 Aug 2011 06:05 AM PDT Constellation Energy (NYSE:CEG) has signed a three-year agreement with the Commonwealth of Pennsylvania to supply electricity to 185 more commonwealth customers. This will bring the total number of public sector accounts that the company serves in Pennsylvania to 5,900. Pursuant to a competitively bid power purchase contract with the state's Department of General Services, Constellation Energy started supplying energy to the 185 new customers throughout the state on August 1, 2011. Constellation … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Excel Maritime To Underperform Posted: 12 Aug 2011 06:05 AM PDT We downgrade our recommendation on Excel Maritime Carriers Ltd. (NYSE:EXM) to Underperform backed by the gloomy prospects of the drybulk shipping industry. This sector is facing serious challenges, and therefore the spot vessel rates collapsed significantly. We believe the sole reason for this dismal condition is the sheer increase of ships under operation that resulted in intense price competition. The spot rates of drybulk vessels have fallen to such a low level that even surging commodity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Retail Sales Break Recent Downtrend With July Release, US Data Stream Turning Around? Posted: 12 Aug 2011 06:03 AM PDT For second day in a row we have some positive fundamental data coming from the US. This time it's in the form of consumer spending figures – our retail sales for July. Consumers spent more on electronics, furniture, clothing, as well as gasoline and the increased spending helps ease some of the concerned that consumers are retrenching in the midst of a high unemployment rate as well as a wobbly economic recovery. Headline sales grew by 0.5% in July and June's retail sales were revised … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Attempting A Bullish Breakout After Decent US Retail Sales Figures Posted: 12 Aug 2011 05:50 AM PDT Prev: EUR/USD Maintains Bearish Bias Ahead of US Session; 1.4050 is in Sight (8/11) EUR/USD Resistance Pivot: - Retail sales numbers came in better than expected, with the headline number at 0.5% for July. The forecast was 0.4% and June's data was revised from 0.1% to 0.3%. Core retail sales was also 0.5%. The forecast was 0.2%, and June's number was revised up from 0.0% to 0.2%. - This invites some risk appetite, which is bullish for the EUR/USD. - Although this is good for the US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up On Economic Data Posted: 12 Aug 2011 05:45 AM PDT Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Core Retail Sales.<br/><br/> EUR/USD was trading at 1.4276, up 0.25% at time of writing.<br/><br/> The pair was likely to find support at 1.4105, Thursday&rsquo;s low, and resistance at 1.4401, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, official data showed that U.S. core retail sales rose more-than-expected to a seasonally adjusted 0.5% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Retail Sales Rise Posted: 12 Aug 2011 05:40 AM PDT Forexpros – Retail sales in the U.S. rose last month, official data showed on Friday.<br/><br/> In a report, the Census Bureau said that retail sales rose to a seasonally adjusted 0.5%, from 0.3% in the preceding month whose figure was revised up from 0.1%.<br/><br/> Analysts had expected retail sales to rise 0.5% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Core Retail Sales Rise More-than-expected Posted: 12 Aug 2011 05:40 AM PDT Forexpros – U.S. core retail sales rose more-than-expected last month, official data showed on Friday.<br/><br/>In a report, Census Bureau said that U.S. core retail sales rose to a seasonally adjusted 0.5%, from 0.2% in the preceding month whose figure was revised up from 0.0%.<br/><br/>Analysts had expected U.S. core retail sales to rise 0.2% last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Equities Rally On Naked Short-Ban, Industrial Output Slides, France GDP Flat Posted: 12 Aug 2011 05:37 AM PDT 1. European Equities Rally Into the Weekend: European equities saw some relief today as the attempt by several European countries to impose naked-short selling especially on financial firms, helped to spark a rally. We will see how long this rally lasts but at least we head into the NY morning with positive risk sentiment. US futures ground higher prior to the New York open. Here's a look at the European Stoxx 50 index: We see that have managed to extend the rally in European equities after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On V.F. Corporation Posted: 12 Aug 2011 05:35 AM PDT We maintain our long-term 'Neutral 'recommendation on V.F. Corporation (VFC). V.F. Corp.’s diversified brand portfolio positions the company well above its peers to generate above average industry growth and sustain itself in the current challenging environment. The company's approach to brand management allows each brand to develop further, through rigorous marketing strategies, financial control, and operating leverage. Further, given the strength of most of its brands and opportunities … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FWLT In 2nd Phase Of Refinery Upgrade Posted: 12 Aug 2011 05:35 AM PDT Global Engineering and Construction Group of Foster Wheeler AG (NASDAQ:FWLT) has been granted release to perform the second phase work for the Modernization of the Refinery in Barrancabermeja (PMRB) in Colombia. The release has been given as per an existing contract with Ecopetrol S.A and includes additional project management consultancy (PMC) and front end engineering design (FEED)and detailed engineering for the crude unit restoration. The company will also provide support to Ecopetrol in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/GBP Up During The European Session Posted: 12 Aug 2011 05:00 AM PDT Forexpros – The Euro was higher against the British Pound on Friday.<br/><br/> EUR/GBP was trading at 0.8772, up 0.02% at time of writing.<br/><br/> The pair was likely to find support at 0.8663, Monday&rsquo;s low, and resistance at 0.8886, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen, with EUR/USD gaining 0.20% to hit 1.4268 and EUR/JPY falling 0.17% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/CHF Up In European Trade Posted: 12 Aug 2011 04:30 AM PDT Forexpros – The British Pound was higher against the Swiss Franc on Friday.<br/><br/> GBP/CHF was trading at 1.2530, up 1.31% at time of writing.<br/><br/> The pair was likely to find support at 1.1477, Tuesday&rsquo;s low, and resistance at 1.2630, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.19% to hit 1.6269 and EUR/GBP rising 0.001% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD: Double Top Or Completed ABC Correction; 0.9910 Is A Critical Pivot Posted: 12 Aug 2011 04:10 AM PDT Previous: USD/CAD Poised to Attack Parity Above 0.9960 (8/11) USD/CAD 0.9910 Pivot: - The USD/CAD is seen in the 1H Chart dealing with a double top. - An important pivot is 0.9910. If the market can hold below this, we may confirm the double top. - A break back below 0.9835 suggests bearish continuation. - In the very short-term the bearish targets are 0.98, and the 0.9766 pivot. The 4H chart shows also the 0.9708 (78.6% retracement) target, and the 0.9640 (61.8% retracement) support. 0.9640 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/JPY Down In European Trading Hours Posted: 12 Aug 2011 04:00 AM PDT Forexpros – The Euro was lower against the Japanese Yen on Friday after the release of euro zone data on French GDP.<br/><br/> EUR/JPY was trading at 109.03, down 0.35% at time of writing.<br/><br/> The pair was likely to find support at 108.03, Thursday&rsquo;s low, and resistance at 112.32, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary official data showed that France&rsquo;s gross domestic product remained unchanged … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Up During The European Session Posted: 12 Aug 2011 03:20 AM PDT Forexpros – The U.S. Dollar was higher against the Swiss Franc on Friday.<br/><br/> USD/CHF was trading at 0.7710, up 1.24% at time of writing.<br/><br/> The pair was likely to find support at 0.7074, Tuesday&rsquo;s low, and resistance at 0.7768, today&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.02% to hit 1.4237 and USD/JPY falling 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil To Rise, Gold To Fall As Wall Street Recovery Continues Posted: 12 Aug 2011 03:17 AM PDT Talking Points Crude Oil Set to Gain as Stocks Rise Again on Wall Street Gold Likely to Continue Lower as Risk Appetite Recovers WTI Crude Oil (NY Close): $85.72 // +2.83 // +3.41% Crude oil prices remain firmly anchored to sentiment trends, with prices closely tracking the S&P 500. Futures tracking the benchmark stock index swung into positive territory in European hours having traded lower in Asia after France, Spain, Italy and Belgium imposed short-selling bans to stabilize … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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