Tuesday, August 2, 2011

DailyMarkets.com - Earnings Preview: Clorox

DailyMarkets.com - Earnings Preview: Clorox

Earnings Preview: Clorox

Posted: 02 Aug 2011 07:50 AM PDT

Clorox Corporation (NYSE:CLX), one of the world’s leading manufacturers of consumer products, is scheduled to report its fourth-quarter 2011 financial results before the opening bell on August 03, 2011. The current Zacks Consensus Estimates for the quarter is earnings of $1.19 a share. For the quarter under review, revenue is expected at $1,469.0 million, according to the Zacks Consensus Estimate.
Third-Quarter 2011, a synopsis
Clorox Corporation posted lower third-quarter fiscal 2011 earnings of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q2 Results. Street’s Over-Reaction Prompts Upgrade

Posted: 02 Aug 2011 07:35 AM PDT

Brian Marckx, CFA
Q2 RESULTS

iCAD (ICAD) announced financial results for the second quarter ending June 30, 2011 on July 28, 2011.  Revenue was well ahead of our estimate but this was more than offset by the combination of a slightly softer than anticipated gross margin and significantly higher operating expenses.  The net result was EPS coming in just shy of our estimate.  While the market (with the stock trading down 25%+) was apparently less than enthused by the earnings … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Mixed Bag For SIRIUS XM

Posted: 02 Aug 2011 07:35 AM PDT

SIRIUS XM Radio Inc. (NASDAQ:SIRI) declared mixed financial results for the second quarter of 2011. However, the company generated a record high adjusted EBITDA and massive net subscriber addition. Management also raised its target for fiscal 2011 net subscriber addition.  
Quarterly GAAP net income was $173.3 million or 3 cents per share compared with a net income of $15.3 million or break-even per share in the prior-year quarter. Second- quarter 2011 EPS of 3 cents was well above the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Marginal Beat For Pfizer

Posted: 02 Aug 2011 07:35 AM PDT

Pfizer Inc. (NYSE:PFE) reported second quarter earnings of 60 cents per share, a penny above the Zacks Consensus Estimate, but 2% below the year-ago earnings. Second quarter revenues declined 1% to $16.9 billion, in line with the Zacks Consensus Estimate. Second quarter 2011 results include the impact of the King acquisition from Jan 31, 2011. Including one-time items, earnings increased 6% to 33 cents.
The Quarter in Detail
Second quarter revenue growth included the impact of the King … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Acorn Energy Sells CoaLogix

Posted: 02 Aug 2011 07:35 AM PDT

Steven Ralston, CFA
Acorn Energy sells CoaLogix – Target raised to $6.10

Acorn Energy (ACFN) announced the signing of a definitive agreement to sell its majority-owned CoaLogix subsidiary for $101 million or 4.9 times 12-month trailing sales to Energy Capital Partners. Acorn Energy owns approximately 65% of CoaLogix on a fully diluted basis. Since its acquisition in 2007, Acorn's investment in CoaLogix totals $18.2 million. When the sale closes, the after-tax proceeds are estimated to be … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Archer’s EPS Dented By Higher Taxes

Posted: 02 Aug 2011 07:35 AM PDT

Archer Daniels Midland Company (NYSE:ADM) reported a disappointed fourth-quarter 2011 results. Net income for the reported quarter was $381.0 million or 58 cents per share compared with $446.0 million or 69 cents per share in the year-ago quarter. Quarterly earnings also missed the Zacks Consensus Estimate of 84 cents a share.
Earnings in the reported quarter declined primarily due to a robust rise in income tax rate, partially offset by increased segmental profit and positive discrepancy from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Align Beats, Margins Down

Posted: 02 Aug 2011 07:35 AM PDT

Align Technology (NASDAQ:ALGN) reported second quarter 2011 adjusted EPS of 20 cents, surpassing the Zacks Consensus Estimate of 19 cents but missing the year-ago quarter adjusted EPS by a penny.
Total revenue increased 10.9% year over year to $120.1 million (beating the company's guidance of $106.5−$110.5 million), exceeding the Zacks Consensus Estimate of $111 billion. Total Invisalign revenue came in at $113.6 million on case shipments of 76 thousand during the quarter.
Revenue in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Coach Reports Robust Results

Posted: 02 Aug 2011 07:35 AM PDT

Coach, Inc. (NYSE:COH), the designer and marketer of fine accessories and gifts, recently posted better-than-expected fourth-quarter 2011 results on the heels of healthy sales in North America and China.
The quarterly earnings of 68 cents a share beat the Zacks Consensus Estimate of 65 cents, and came ahead of 64 cents earned in the prior-year quarter buoyed by strong top-line growth.
The reported quarter includes 13 weeks compared with 14 weeks in the year-ago quarter. Thus on a comparable basis, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Comcast Corp.

Posted: 02 Aug 2011 07:35 AM PDT

Comcast Corp. (NASDAQ:CMCSA) is slated to release its second quarter 2011 results on Tuesday, August 3, 2011, before the opening bell. The current Zacks Consensus Estimate for the second quarter is pegged at 41 cents per share, representing an annualized growth of 23.64%.
With respect to earnings surprises over the trailing four quarters, Comcast has outperformed the Zacks Consensus Estimate in all the four quarters. The average earnings surprise was a positive 5.48%, implying that the company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: The Downside Prevails

Posted: 02 Aug 2011 07:18 AM PDT

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

Canadian Dollar: The Downside Prevails

Posted: 02 Aug 2011 07:18 AM PDT

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

Manufacturing Sinks Crude

Posted: 02 Aug 2011 07:18 AM PDT

Tuesday August 2nd
The indecision over the debt ceiling set the negative tone for Crude Oil over the past week. If a deal is put into law, the weak ISM manufacturing data may have a more lasting impact on the Crude market, as this is clearly a sign of economic regression. Technically, the September Oil contract has broken through the lower end of the tight 95-100 trading range the market found itself in for much of July. Some traders may possibly wish to consider selling a September 102 call … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Global Economy Links For Tuesday

Posted: 02 Aug 2011 07:15 AM PDT

1. From Serbia to Cape Cod.  In Provincetown, Massachusetts, foreign workers are saving the tourism industry. 

2. From Aberdeen, Washington to China.  The 100-year-old Port of Grays Harbor in Washington state is bouncing back, thanks to China’s surging demand for U.S. products. (HT: Nick … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Reliance Steel Beats Estimates

Posted: 02 Aug 2011 07:03 AM PDT

Reliance Steel & Aluminum Co. (NYSE:RS) reported net income of $98.7 million or $1.31 per share in the second quarter of 2011 compared with $61.5 million or 83 cents per share in the prior-year quarter. Results were in line with the Zacks Consensus Estimate.
Revenue
Quarterly sales were $2.05 billion, up 26% year over year. Results were slightly below the Zacks Consensus Estimate of $2.1 billion. The increase was due to a rise in price for all products during the quarter.
In second quarter of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Falls To Trade Near $94

Posted: 02 Aug 2011 07:00 AM PDT

08/02/11 Front month crude prices took a slight turn downwards following new economic reports showing a slowdown in the US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AUD/USD Forms Another Double Top; 1.0790 Is Critical Support

Posted: 02 Aug 2011 06:53 AM PDT

Prev: AUD/USD Attemping a Double Top with 1.10 Support (7/28)
AUD/USD

Double Top Attempt:
- The AUD/USD is seen in the 4H chart break below a double top with support near the 1.0920 area. Note the left top also being a double top, which we caught last week.
- The current double top is a big more significant as it pushes the market below our 1.0876 support near 38.2% retracement. A dovish RBA statement may have contributed Aussie strength being contained starting in the Asian session to start … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Pulls Back From 2-week High After U.S. Data

Posted: 02 Aug 2011 06:48 AM PDT

Forexpros – The U.S. dollar pared gains against its Canadian counterpart on Tuesday, pulling back from a two-week high as concerns the U.S. economic recovery was faltering weighed on the greenback.<br /><br />USD/CAD hit 0.9617 during U.S. morning trade, the pair&rsquo;s highest since July 18; the pair subsequently consolidated at 0.9577, gaining 0.06%.<br /><br />The pair was likely to find support at 0.9490, Monday&rsquo;s low and resistance at 0.9635, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sligan Guides Well In 2Q

Posted: 02 Aug 2011 06:36 AM PDT

Silgan Holdings Inc. (NASDAQ:SLGN) has reported fiscal 2011 second quarter results, delivering an EPS of 73 cents versus 47 cents in the year-earlier quarter.
The quarter noted some special items including rationalization charges of 2 cents, benefit of 37 cents related to termination of merger agreement, 12 cents pertaining to acquisition cost and a charge of 3 cents related to a dispute. Netting these, adjusted EPS amounted to 53 cents versus 48 cents in the prior-year quarter.
Total revenue during … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Acorda Therapeutics, Allstate, Auxilium Pharmaceuticals, Haemonetics, Humana, Jazz Pharmaceuticals, Key Energy Services, Old National Bancorp Capital Trust I, PAETEC Holding Corp.

Posted: 02 Aug 2011 06:36 AM PDT

    Allstate Corporation (NYSE:ALL) reported Q2 loss of $1.23, lower than the Zacks Consensus Estimate of $1.53 per share. Revenues for the quarter increased by 5% year-over-year to $8.08 billion, exceeding the Zacks Consensus Estimate of $6.91 billion

    Auxilium Pharmaceuticals (NASDAQ:AUXL) posted a Q2 loss of $0.11 per share, less than the analysts’ estimate for a loss of $0.19 per share. Revenues for the quarter increased 30.5% year-over-year to $65.9 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

VPHM Misses Due To Higher Expenses

Posted: 02 Aug 2011 06:36 AM PDT

ViroPharma Inc. (NASDAQ:VPHM) posted second quarter fiscal 2011 earnings of 36 cents per share, missing the Zacks Consensus Estimate by 3 cents and the year-ago figure by a penny. Despite higher revenues, earnings bore the brunt of increased operating expenses.
Revenues
Higher sales from Cinryze boosted the quarterly revenues from $109.0 million in the year-ago quarter to $128.8 million. However, revenues fell shy of the Zacks Consensus Estimate of $131.0 million.
Cinryze sales increased 55.1% to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Universal

Posted: 02 Aug 2011 06:36 AM PDT

Universal Technical Institute Inc. (NYSE:UTI) recently posted better-than-expected third-quarter 2011 results. Street analysts had nearly a week to ponder on the news. In the subsequent paragraphs, we cover the recent earnings announcement, analysts’ estimate revisions as well as the Zacks Rank and long-term recommendation on the stock.
Quarterly Review
On July 27, 2011, Universal Technical Institute delivered quarterly earnings of 27 cents a share that topped the Zacks Consensus Estimate of 21 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

June Restaurant Index Highest Since August 2007

Posted: 02 Aug 2011 06:36 AM PDT

The National Restaurant Association released its monthly report on the health of America’s restaurant industry last week for the month of June, here are some highlights:

1. The Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), stood at 100.5 in June – up a solid 1.4 percent from May's level of 99.2 (see chart above). The Current Situation Index has been above 100 in three of the last four months, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Safe Havens Bid Higher As Risk-Appetite Slips Ahead Of Key Senate Vote

Posted: 02 Aug 2011 06:31 AM PDT

The safe haven currencies – the Japanese Yen, the Swiss Franc and the U.S. Dollar – were bid higher in the Asian and European sessions as a dovish Reserve Bank of Australia coupled with the looming Senate vote on the most recent debt ceiling legislation weighed on market participants' appetite for riskier assets. Indeed, even though the Reserve Bank of Australia's decision to hold the key interest rate at 4.75 was widely anticipated by the markets, the ensuing commentary was too dovish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Extends Rally To Fresh Record High

Posted: 02 Aug 2011 06:24 AM PDT

Forexpros – Gold futures extended gains on Tuesday, rallying to a fresh record high as mounting concerns over the U.S. economic outlook and renewed fears over sovereign debt contagion in the euro zone boosted demand for safe haven assets.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,638.75 a troy ounce during U.S. morning trade, jumping … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: The Downside Prevails

Posted: 02 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: 02 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: 02 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: 02 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

Auction-Rate Securities Update: Discovery In Merrill/Maui Case Is Explosive!!

Posted: 02 Aug 2011 06:17 AM PDT

Information is everything. The appropriate use of information can be particularly powerful if not explosive.
Whether in the canyons of Wall Street, the halls of Capitol Hill, or in the most distant regions of our great nation, the value and use of timely information is critical in determining the truth as to 1. what did people know 2. when did they know it, and 3. what did they do with it?
The legal process known as discovery is critical to elevating our Sense on Cents … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 02 Aug 2011 01:15 AM PDT

08/02/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the ringing of the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Close To Record Low As Debt Fears Weigh

Posted: 02 Aug 2011 06:08 AM PDT

Forexpros – The euro tumbled to a record low against the Swiss franc on Tuesday, as fresh concerns over sovereign debt contagion in the euro zone and fears over the outlook for global economic growth boosted safe haven inflows.<br /><br />EUR/CHF hit 1.0988 during European afternoon trade, the pair&rsquo;s lowest since the inception of the single currency; the pair subsequently consolidated at 1.1058, falling 0.93%.<br /><br />The pair was likely to find support at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

General Cable Below Estimate

Posted: 02 Aug 2011 06:02 AM PDT

General Cable Corporation (NYSE:BGC) reported second-quarter 2011 earnings per share of 68 cents, below the Zacks Consensus Estimate of 83 cents. The earnings per share were above the prior-year earnings per share of 45 cents.
Excluding the impact of $0.09 per share of non-cash convertible debt interest expense, adjusted non-GAAP earnings per share was 77 cents in the quarter.
Total Revenue
Total revenue, on a metal-adjusted basis, in the quarter increased by 11% year over year to $1,532.2 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Growth Worries Replace Debt Fear

Posted: 02 Aug 2011 06:02 AM PDT

It is amazing to see how fast the markets have started to look past the Debt Deal even as it has yet to become to the law of the land. We will likely get the President’s signature on the bill after the Senate passes it later today; the House passed it Monday evening.

With default no longer a concern but a rating downgrade that may still be in the cards, stocks have moved on to fretting about the growth question. And there are plenty of reasons for investors to keep an eye on the U.S. economy’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aussie Slides On RBA On Fears Over Global Slowdown

Posted: 02 Aug 2011 06:01 AM PDT

Relief over the likely successful conclusion to the U.S. debt-debacle seems to have been confined to an end-of-day rally on Wall Street on a day marred by a further convincing sign that the economy remains dogged by lackluster growth. So entrenched is this current bout of weakness that the Australian central bank appears to have put global growth concerns ahead of medium-term worries over inflation causing an evaporation of fears that interest rates in the nation will rise. Those same concerns … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aussie Slides On RBA On Fears Over Global Slowdown

Posted: 02 Aug 2011 05:58 AM PDT

Relief over the likely successful conclusion to the U.S. debt-debacle seems to have been confined to an end-of-day rally on Wall Street on a day marred by a further convincing sign that the economy remains dogged by lackluster growth. So entrenched is this current bout of weakness that the Australian central bank appears to have put global growth concerns ahead of medium-term worries over inflation causing an evaporation of fears that interest rates in the nation will rise. Those same concerns … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stock Futures Add To Losses After Data; Dow Down 0.65%

Posted: 02 Aug 2011 05:41 AM PDT

Forexpros – U.S. stock futures pointed to a lower open on Tuesday, as concerns the U.S. economic recovery was faltering and lingering worries about a possible downgrade of the U.S. sovereign debt rating prompted investors to shun riskier assets.<br /><br />Dow Jones Industrial Average futures pointed to a loss of 0.65%, the S&amp;P 500 futures declined 0.8%, while the Nasdaq 100 futures retreated 0.7%.<br /><br />Stock futures added to losses after official data … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Core PCE Price Index Rises Less-than-expected

Posted: 02 Aug 2011 05:37 AM PDT

Forexpros – The U.S. core personal consumption expenditure index rose less-than-expected in June, official data showed on Tuesday.<br /><br />In a report, the Bureau of Economic Analysis said its seasonally adjusted core PCE price index rose by 0.1% in June, disappointing expectations for a 0.2% gain.<br /><br />May&rsquo;s figure was revised to a 0.2% gain from a previously reported 0.3% increase.<br /><br />The report showed that personal spending … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Barrick’s 2Q Beats Consensus

Posted: 02 Aug 2011 05:35 AM PDT

Barrick Gold Corp. (NYSE:ABX) posted record second-quarter 2011 results driven by higher gold sales volumes and higher prices for both gold and copper. The second quarter reported a net income of $1.2 billion or $1.16 per share. 
Adjusted net income was up 36% year over year to $1.1 billion or $1.12 per share compared with $824 million or 84 cents per share in the prior-year quarter, above the Zacks Consensus Estimate of $1.10.
Revenue
In the second quarter of 2010, total revenue rose 31% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EK Curbs Shareholding, Saves On Tax

Posted: 02 Aug 2011 05:18 AM PDT

Photography pioneer Eastman Kodak Co. (NYSE:EK) announced that its board has adopted a shareholder rights agreement designed to preserve its tax assets. The plan allows Kodak to utilize its $2.9 billion in tax attributes to offset tax burden on future income gains.
The plan is designed to prevent shareholders from increasing their stake in the company for saving the company from higher income tax liability. As per the plan, if any person or group tried to acquire 4.9% or more of Kodak’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mostly Higher As Safe Haven Demand Continues

Posted: 02 Aug 2011 05:11 AM PDT

Forexpros – The U.S. dollar mostly higher against its major counterparts on Tuesday, as concerns over a slowdown in global economic growth and fresh fears over sovereign debt contagion in the euro zone bolstered safe haven demand.<br /><br />During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.47% to hit 1.4180.<br /><br />Earlier Tuesday, Italian and Spanish bond yields advanced to 14-year highs, amid fresh worries that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Remains Lower Despite Better-than-expected PMI

Posted: 02 Aug 2011 04:24 AM PDT

Forexpros – The pound remained lower against the U.S. dollar on Tuesday, as fresh concerns over sovereign debt in the euro zone weighed and despite a better-than-expected reading of the U.K.&rsquo;s construction PMI.&nbsp; <br /><br />GBP/USD hit 1.6260 during European early afternoon trade, the daily low; the pair subsequently consolidated at 1.6273, slipping 0.13%.<br /><br />Cable was likely to find short-term support at 1.6236, Monday&rsquo;s low and a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD’s Corrective Structure Is Running Against Extended Divergence With Momentum

Posted: 02 Aug 2011 04:16 AM PDT

Prev: EUR/USD Completes a Gartley at 61.8% and 50% Fibonacci cluster (8/1)
EUR/USD

Gartley and Zig Zag:
- We noticed a Gartley forming yesterday. A zig zag, where C=A is basically an Elliott Wave description of a Gartley. The maximum 100% swing projection targets 1.4143 area (maximum meaning counting the tails and not just the close when comparing).
- Note the RSI falling below 40, reflecting that a correction with a bearish tilt is developing.
- Support for the zig zag below 1.4143 is the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil To Sink With S&P 500, Gold Finds Safe-Haven Support

Posted: 02 Aug 2011 04:08 AM PDT

Talking Points

Crude Oil Sinking as Risk Aversion Grips Financial Markets
Gold Finds Support Amid Global Economic Slowdown Fears

WTI Crude Oil (NY Close): $94.89 // -0.81 // -0.85%
Crude oil is poised to extend losses as S&P 500 stock index futures trade deeply in the red ahead of the opening bell on Wall Street, pointing to continued broad-based risk aversion. The dour mood seems reasonable: with the deal to raise the US debt ceiling effectively secure, the political theater that had … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cotton Futures Decline As U.S. Crop Concerns Ease

Posted: 02 Aug 2011 03:35 AM PDT

Forexpros – Cotton futures were down sharply on Tuesday, after government data showed that U.S. crop conditions improved last week, easing concerns over tightening supplies, while a stronger U.S. dollar also weighed.&nbsp; <br />&nbsp;&nbsp;&nbsp; <br />On the ICE Futures U.S. Exchange, cotton futures for October delivery traded at USD1.0333 a pound during European morning trade, tumbling 2.2%. <br /><br />It earlier fell as much as 2.5% to trade at a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/USD May Be Completing An Expanded Flat

Posted: 02 Aug 2011 03:31 AM PDT

Prev: GBP/USD Boosted by Technical and Fundamental Signals (8/2)
GBP/USD

Wave Count:
- The GBP/USD chart shows a market flattened after a rally in July that developed in the shape of a leading triangle.
- Currently we have added an A, B and now in the C wave of a "range-bound" market: in quotations because the range resistance has expanded, and the support is likely to expand as well with the most recent price action suggesting bearish continuation in the short-term.
- We can expand down … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Xstrata Profits Jump Despite Cost Pressures

Posted: 02 Aug 2011 12:44 AM PDT

Mining group Xstrata (LON:XTA) saw revenues soar by 23% to $16.8 billion (£10.3 billion) in the first six months of the year as demand for its commodities continued to surge. The Switzerland-based group said that operating profits had grown by 23% to $2.9 billion and that robust operational momentum in the second quarter would deliver "a substantially stronger second half". As a result, the interim dividend was lifted by 160% to 13 cents.

Chief executive Mick Davis said the figures … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Breaking Down The Details Of The US Debt Deal

Posted: 01 Aug 2011 09:09 PM PDT

House Passes "The Deal"
The House of Representative has passed the debt ceiling-deficit reduction bill that was formulated over the weekend by a vote of 269 aye to 161 nay. On the GOP side, it was 174 aye to 66 nay, with the "no" votes coming from the tea party caucus. Dems voted 95 in favor and 95 against with 3 dems not voting. (Gabby Giffords, the Arizona congresswoman shot in the head last year cast her first vote since the shooting – a yes vote).

A vote in the Senate will come … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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