Friday, August 19, 2011

DailyMarkets.com - CTIC Initiates Opaxio Trial

DailyMarkets.com - CTIC Initiates Opaxio Trial

CTIC Initiates Opaxio Trial

Posted: 19 Aug 2011 09:35 AM PDT

Cell Therapeutics Inc. (CTIC) recently announced initiation of a mid-stage study (n=60) comparing Cell Therapeutics' pipeline candidate Opaxio and radiotherapy (RT) to temozolomide (standard of care) and RT in patients with newly diagnosed glioblastoma, a high-grade malignant brain tumor.
The study aims to show if the combination of Opaxio and RT can improve progression free survival and overall survival in these patients as compared to temozolomide and RT. If successful, results from the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Symmetry Closes Olsen Buyout

Posted: 19 Aug 2011 09:15 AM PDT

Symmetry Medical (NYSE:SMA), an instrument supplier to orthopedic devices makers, has wrapped up its acquisition of privately-held electrosurgical instruments maker Olsen Medical in an all cash transaction. The deal was announced on August 3, 2011. The financial terms of the transaction were not divulged by the entities.
Louisville, Kentucky-based Olsen Medical is a leading maker of a comprehensive suite of single-use and reusable forceps, cords, electrosurgical pens/pencils, electrodes and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Bulls And Bears Fighting It Out Now.

Posted: 19 Aug 2011 09:08 AM PDT

The trend higher today took the price to the highs from yesterday's trade and has come back off. The move lower corrected 38.2% of the days range and the move back higher resumed. Now the price is testing the 38.2% of the move down.   Key level for the pair as the week comes to a close.  We could see the market continue back higher or move back to the support at the 1.4378 just as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Magna International Is Neutral

Posted: 19 Aug 2011 09:03 AM PDT

We reiterate our Neutral recommendation on Magna International Inc. (NYSE:MGA), which is a leading manufacturer and supplier of automotive components. Based in Aurora, Canada, Magna designs, develops and manufactures automotive systems, assemblies, modules and components, besides engineering and assembling complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks. The product portfolio includes automotive interior and exterior systems, seating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Liberty Media’s New Strategy (revised)

Posted: 19 Aug 2011 09:03 AM PDT

In a major strategic move, Liberty Media Corp. (NASDAQ:LCAPA) has abandoned its plan to buy a controlling stake in Barnes & Noble Inc. (NYSE:BKS), instead will invest in the company. Last May, Liberty Media decided to acquire 70% stake of Barnes & Noble for around $1.02 billion.

Yesterday, the two companies jointly announced that as per the new deal, Liberty Media will now invest $204 million to purchase preferred stock of Barnes & Noble, which can be converted into approximately 12 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Progressive Issues Notes

Posted: 19 Aug 2011 09:03 AM PDT

The Progressive Corporation (NYSE:PGR) has offered $500 million of 3.75% senior notes due 2021. Progressive is offering the senior notes at 99.892% of face value.
Progressive intends to use the proceeds for general corporate purposes.
A.M. Best Co. has assigned a debt rating of "a" with a stable outlook to the notes. Another credit rating agency, Fitch Ratings, also intends to assign “A” to the notes.
Progressive ended the second quarter of 2011 with a debt balance of $1.96 billion, lower than … [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: 19 Aug 2011 08:40 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday.<br/><br/> USD/JPY was trading at 76.43, down 0.18% at time of writing.<br/><br/> The pair was likely to find support at 75.97, today&rsquo;s low, and resistance at 77.08, Monday&rsquo;s high.<br/><br/> Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.40% to hit 1.4390 and GBP/USD rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Back Down Testing The 100 Hour MA/ 38.2% Of The Days Range

Posted: 19 Aug 2011 08:32 AM PDT

The EURUSD has rotated back lower after reaching the target resistance (see prior post) at the 1.4450 level (high reached 1.4451).  The price is now back down at the 1.4387-91 area where the midpoint of the week and the 100 hour MA is found.  That level started the rally higher.  Will it now hold support?
If the level gives way, additional support at the 1.4378 will be eyed.  This is the 38.2% of the days trading range.  A break of the 1.4378 takes a lot of wind out of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bob Evans Tops, Reaffirms Outlook

Posted: 19 Aug 2011 08:25 AM PDT

Bob Evans Farms Inc. (NASDAQ:BOBE) announced first quarter 2012 earnings of 59 cents per share, which outpaced the Zacks Consensus Estimate of 50 cents per share and the year-ago quarter earnings of 41 cents per share.
The better-than-expected results were driven by solid performance from  the food products segment and cost-control initiatives, offsetting higher cost of sales and sluggish revenue from the restaurant segment.
The company posted a 1.7% year-over-year drop in net sales to $405.4 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Noble-CONSOL Enter Marcellus JV

Posted: 19 Aug 2011 08:25 AM PDT

Independent oil and gas producer Noble Energy Inc. (NYSE:NBL) and diversified fuel producer CONSOL Energy Inc. (NYSE:CNX) have formed a joint venture to develop CONSOL's Marcellus Shale properties in southwest Pennsylvania and northwest West Virginia. The joint development agreement between the two companies requires payments to the tune of $3.4 billion by Noble Energy to CONSOL Energy. 
Per the arrangement, Noble Energy will acquire a 50% interest in CONSOL’s 663,350 Marcellus Shale acres … [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: 19 Aug 2011 08:25 AM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Friday.<br/><br/> GBP/USD was trading at 1.6552, up 0.21% at time of writing.<br/><br/> The pair was likely to find support at 1.6257, Monday&rsquo;s low, and resistance at 1.6618, today&rsquo;s high.<br/><br/> Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.20% to hit 0.8695 and GBP/JPY falling 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Yen’s Big Move

Posted: 19 Aug 2011 08:19 AM PDT

Forex observers have been awaiting a big move in the Japanese yen as upside pressure on the unit has been maintained in light of growing volatility in global markets. The slide in equity markets around the world that has robbed overall valuation by some $6 trillion in recent weeks has raised appetite for typical safe haven plays of the yen and the Swiss franc. Japanese officials keep discussing the need and willingness to act. The rising volatility in global markets has, however, been … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: Technical Rebound In A Bearish Trend

Posted: 19 Aug 2011 08:18 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: 19 Aug 2011 08:18 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: NZDUSD Tests Resistance And Comes Back Off

Posted: 19 Aug 2011 08:14 AM PDT

The NZDUSD moved sharply higher with the dollar selling but ran into resistace against the 38.2% and the 200 hour moving average (green line in the chart above).  The move lower was quick , but the pair found support against the 100 bar MA and the 50% of the days trading range on the 5 minute chart (see chart below). Holding that level sent the price back higher but the rally stalled before the 200 hour MA at the 0.8283 level and a new move lower ensued.
The up and down action on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Wall Street Starts In Red, Turns Higher

Posted: 19 Aug 2011 08:05 AM PDT

08/19/11 The major US stock averages tracked global equities lower, but turned higher after the Open. JP Morgan and Citigroup reduced the US GDP estimate for 2011 and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SINA Reports Disappointing 2Q

Posted: 19 Aug 2011 08:02 AM PDT

SINA Corp. (SINA) reported second quarter 2011 earnings of 14 cents per share, which missed the Zacks Consensus Estimate by 4 cents. Reported earnings exclude one-time items but include stock-based compensation charges.
Earnings per share decreased a whopping 62.1% year over year due to increased marketing and engineering expenses related to Weibo. Despite the year-over-year miss, SINA's shares surged $5.37 (5.78%) in after hours trading, reflecting the fact that the results were already … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Walgreens Unveils Nice! Brand

Posted: 19 Aug 2011 08:02 AM PDT

Recently, Walgreens (NYSE:WAG) introduced its new store brand Nice! in the US. Under this label, over 400 high quality grocery and household products will be priced at 30% lower than other national brands. Walgreens plans to include almost all Nice! products on its stores within early 2012 and expects to add more products under this brand going forward.
With Nice!, Walgreen aims to streamline its offering range for customers to identify high quality essentials at a lower price. Walgreens expects … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up During The European Session

Posted: 19 Aug 2011 08:00 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday.<br/><br/> EUR/USD was trading at 1.4417, up 0.59% at time of writing.<br/><br/> The pair was likely to find support at 1.4260, today&rsquo;s low, and resistance at 1.4518, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.26% to hit 0.8700 and EUR/JPY rising 0.16% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Following 60 Trips To City Hall For Permits, The First Legal Food Truck Is Now Operating In Detroit

Posted: 19 Aug 2011 07:49 AM PDT

DETROIT (July 17, 2011) — “Today marks the first day that hungry Detroiters will be able to order lunch from a legal food truck in downtown Detroit. El Guapo Fresh Mexican Grill, downtown’s first fully sanctioned food truck, will be stationed at 301 Monroe St. at Randolph, serving tacos, burritos and several kinds of salsas.

While other food truck operators in downtown Detroit have set up shop without permits, Anthony Curis and Doug Runyon, co-owners of El Guapo, made dozens of trips to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Steps Higher. Eyes Topside Trendline Resistance

Posted: 19 Aug 2011 07:42 AM PDT

The GBPUSD held 100 hour MA and trendline support and with the dollar weakness today, the price has moved through topside target after target. The last level to get through was the 3 month high at the 1.6600 level.   The next key target is the 1.6630 level which is the parellel trendline resistance level.  I would expect sellers/profit takers against this level, with a break above triggering additional stops.
On the downside look for support against the 38.2% (yellow line in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/JPY Up In European Trading Hours

Posted: 19 Aug 2011 07:40 AM PDT

Forexpros – The British Pound was higher against the Japanese Yen on Friday.<br/><br/> GBP/JPY was trading at 126.54, up 0.05% at time of writing.<br/><br/> The pair was likely to find support at 124.96, Monday&rsquo;s low, and resistance at 126.98, Wednesday&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 0.57% to hit 1.6610 and EUR/GBP rising 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Long-Term Charting The Strong Relationship Between Stocks And The 10 Year Treasury Yield

Posted: 19 Aug 2011 07:28 AM PDT

Since uniting in 1998, US Equities have displayed a strong positive relationship with the 10-Year Treasury Note Yield, and we can gather insights from that relationship.
Let's start with the monthly frame and work down to the daily chart to assess the relationship and the current signals from this important Inter-market Pair:

There's a little trick to the relationship – at major market turns, the Bond (Yield) market has led (preceded) turns in equities.  This tendency is more … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Slides As Recession Fears Dampens Demand Forecasts

Posted: 19 Aug 2011 07:15 AM PDT

08/19/11 Front month crude prices continued to slide this morning as global recession fears have kept investors concerned with future demand … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 19 Aug 2011 01:15 AM PDT

The latest in news, commentary, and information on what’s moving the US equities markets just prior to the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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