Monday, August 1, 2011

DailyMarkets.com - Forex – EUR/USD Moves Higher In Early Asian Trade

DailyMarkets.com - Forex – EUR/USD Moves Higher In Early Asian Trade

Forex – EUR/USD Moves Higher In Early Asian Trade

Posted: 01 Aug 2011 04:51 PM PDT

Forexpros – The euro extended gains against the U.S. dollar Monday, following the release of data showing a slowdown in U.S. manufacturing and global markets await the outcome of a Congressional vote to raise the debt limit before Tuesday&rsquo;s deadline. <br /><br />EUR/USD hit 1.4271 during early Asian trade, the pair&rsquo;s highest since July 20; the pair subsequently consolidated at 1.4263, rising 0.09%.<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

Forex – Dollar Mixed Following Poor U.S. Manufacturing Data

Posted: 01 Aug 2011 04:16 PM PDT

Forexpros – The U.S. dollar was mixed against its major counterparts Monday, as U.S. government figures showed a worse-than-expected slowdown in manufacturing and markets awaited a congressional vote on raising the nation&rsquo;s debt ceiling.<br /><br />In early Asian trade, the greenback was down against the euro, with EUR/USD adding 0.06% to hit 1.4259.<br /><br />Earlier in the day, the U.S. Institute of Supply Management&rsquo;s Manufacturing Index fell … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Up During The Asian Session

Posted: 01 Aug 2011 04:10 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday.<br/><br/> EUR/USD was trading at 1.4260, up 0.07% at time of writing.<br/><br/> The pair was likely to find support at 1.4186, today&rsquo;s low, and resistance at 1.4536, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8748 and EUR/JPY rising 0.36% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CEO Spotlight: Mike Odell, Pep Boys

Posted: 01 Aug 2011 03:57 PM PDT

08/01/2011 Pep Boys’ President and CEO, Mike Odell, discusses the company’s 90th anniversary and recent trends in the automotive aftermarket service … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Franklin Resources

Posted: 01 Aug 2011 03:35 PM PDT

Franklin Resources Inc. (NYSE:BEN) is scheduled to report its fiscal third-quarter 2011 results before the opening bell on Tuesday, August 2. The Zacks Consensus Estimate for the third quarter is $2.16 per share, representing an increase of about 37% from the year-ago quarter.
Franklin’s global footprint is an exceptionally favorable strategic point, since its AUM is well diversified. Moreover, a strong balance sheet and recently completed acquisitions are expected to strengthen the financials of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down In Asian Trade

Posted: 01 Aug 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Monday.<br/><br/> NZD/USD was trading at 0.8760, down 0.07% at time of writing.<br/><br/> The pair was likely to find support at 0.8623, Friday&rsquo;s low, and resistance at 0.8842, today&rsquo;s high.<br/><br/> Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.11% to hit 1.2530 and EUR/NZD rising 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Day Ahead: Earnings – Barclays, CBS, Pfizer, Toyota; US Data – Personal Income And Spending

Posted: 01 Aug 2011 10:20 AM PDT

08/01/11 The stories, data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: VIX Drops

Posted: 01 Aug 2011 03:17 PM PDT

Cusick’s Corner
This is a headline market, so try not to be the hero and get too opinionated. All the major markets are at the critical support level of the 200-Day Moving Average and the last test was in June. Holding these levels into the close was important and I like the fact that VIX, volatility, pulled back into the close as well, flagging that some potential upside may be on the horizon. I will be watching the 1300 level on the S&Ps as a critical pivot point that could squeeze the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Watch List For Tuesday, Aug 2

Posted: 01 Aug 2011 03:12 PM PDT

    ( click to enlarge )

Melco Crown Entertainment Ltd (NASDAQ:MPEL) had a solid breakout today on almost double its average volume. The stock hit a high of $16.15 which is now resistance for Tuesday's follow through move.

   ( click to enlarge )

Yahoo! Inc. (NASDAQ:YHOO) declined to a support zone and upside volume is starting to pick up. The stock is looking real good for a bounce. Watch resistance at $13.34.

  ( click to enlarge )

Audiovox Corporation (NASDAQ:VOXX) … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Host Hotels

Posted: 01 Aug 2011 03:03 PM PDT

Host Hotels & Resorts Inc. (NYSE:HST) reported second quarter 2011 FFO (funds from operations) of $210 million or 30 cents per share, compared with $151 million or 23 cents per share in the year-earlier quarter.
Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. Recurring FFO in the quarter stood at 31 cents per share as against 23 cents in the year-ago quarter. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sold TZA $39.05

Posted: 01 Aug 2011 02:39 PM PDT

I have owned a position in Direxion Small Cap Bear 3X ETF (TZA) for a little over a month now and figured today was a fine time to take some profit and get ready for whatever is to come next. This daily chart shows that the True Strength Index (TSI) indicator had reached the lofty level of 0.65 which I consider a sell signal. 

The other issue motivating my sale was the inverse negative divergence that was fairly predictable. Price yesterday made a higher intraday high than today while … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Patterson-UTI Beats Overall

Posted: 01 Aug 2011 02:35 PM PDT

Onshore contract driller Patterson-UTI Energy Inc. (NASDAQ:PTEN) has reported stellar second quarter 2011 results, reflecting enhanced drilling activities in the fertile oil and liquids plays across the country along with higher pricing for services.
Earnings per share of 52 cents came in fairly ahead of the Zacks Consensus Estimate of 48 cents. The quarter's results also jumped significantly from the year-ago profit of 19 cents.
Quarterly revenue of $600.1 million shot up 95.5% from the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Avnet Acquires Taiwanese Distributor

Posted: 01 Aug 2011 02:35 PM PDT

In an effort to strengthen its position in Asia, Avnet, Inc. (NYSE:AVT) recently acquired distributor J.C. Tally Trading Co., Ltd and its affiliate Shanghai FR International Trading. With operations in Taiwan and China, Avnet distributes interconnect, passive and electromechanical components.
Based in Phoenix, AZ, Avnet Inc. is one of the world's largest distributors of electronic components and computer products. Avnet operates in two segments—the Electronics Marketing (EM) Group and the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Verizon Resumes Vodafone Dividend

Posted: 01 Aug 2011 02:35 PM PDT

After a long hiatus, Verizon Wireless will finally pay a dividend of $10 billion to its parent company Vodafone Group Plc (NYSE:VOD) on January 31, 2012. Verizon Wireless is a joint venture between Verizon Communications (NYSE:VZ) and Vodafone.
Verizon Wireless, the largest U.S. wireless carrier, did not pay dividends in the last 7 years due to a high debt level. The company was focusing on maximizing free cash flow, maintaining a strong balance sheet and reducing debt.
Aided by its balance sheet … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor

Posted: 01 Aug 2011 02:22 PM PDT

08/01/11 US stocks ended a volatile session in negative territory. The major stock averages still recovered from steep losses, ahead of the House vote on the debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Robust Results From CRA International

Posted: 01 Aug 2011 02:10 PM PDT

Boston, Massachusetts-based CRA International Inc. (NASDAQ:CRAI) reported pro forma earnings of 48 cents per share in the second quarter of 2011, handily beating both the Zacks Consensus Estimate of 38 cents per share and the year-ago quarter earnings of 19 cents per share.
Net earnings per share on a GAAP basis improved substantially from the year-ago loss of 14 cents to 40 cents in the reported quarter.
The better-than-expected results were aided by an active pipeline for both litigation and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Coach

Posted: 01 Aug 2011 02:10 PM PDT

Coach Inc. (NYSE:COH), the designer and marketer of fine accessories and gifts, is scheduled to report its fourth-quarter 2011 financial results on August 2, 2011. The current Zacks Consensus Estimate for the quarter is 65 cents a share. For the quarter under review, revenue is $1,009 million, according to the Zacks Consensus Estimate.
Third-Quarter 2011, a Synopsis
Coach, the maker of handbags, wallets, shoes and other accessories, posted better-than-expected third-quarter 2011 results on April … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Financing/Development Deals

Posted: 01 Aug 2011 02:03 PM PDT

Brian Marckx, CFA
Financing/Development Deals
Vicor Technologies’ (VCRT) spate of disappointing news over the last few months was quelled last week when the company filed back-to-back 8-K’s announcing a new financing deal and a licensing/development agreement.  

We cover Vicor with an Outperform rating.  

Financing Deal
With their cash balance dwindling, Vicor has been running on fumes.  Their cash tank may soon get a bit of a refill, however.  In a July 26th 8-K filing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Teva Pharma Beats By A Penny

Posted: 01 Aug 2011 02:03 PM PDT

Teva Pharmaceutical Industries' (NASDAQ:TEVA) second quarter earnings of $1.10 per American Depositary Share (ADS) were a penny above the Zacks Consensus Estimate and 1.9% above the year-ago earnings.
While second quarter revenues increased 11.1% to $4.2 billion, revenues fell short of the Zacks Consensus Estimate of $4.3 billion. The company reported sales growth in Europe (82%), EEMA (22%), Latin America and Asia (15%). However, North America disappointed with sales declining 15%.
The Quarter in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sonoco Invests In European Mills

Posted: 01 Aug 2011 02:03 PM PDT

Sonoco-Alcore, a wholly owned subsidiary of Sonoco Products Co. (NYSE:SON) announced additional investment in three of its European uncoated recycled paperboard (URB) mills. The investment has been done in order to improve their energy efficiency, product range and environmental performance. The time scheduled for the completion of the project is August and September.
The investment is a part of the company's long-term program to improve the product quality and make the mills cost-competitive, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Joy Global Raises Stake In IMM

Posted: 01 Aug 2011 02:02 PM PDT

Joy Global Inc. (NASDAQ:JOYG) has purchased approximately 136.5 million shares of International Mining Machinery Holdings Ltd. (''IMM'') in the open market at a price of HKD 8.00 per share. The number of shares bought represents 10.5% of the total shares outstanding.
IMM is a leading designer and manufacturer of underground longwall coal mining equipment in China. It has strong domestic market positions in roadheaders and longwall shearing machines.
Recently, in July 2011, Joy Global has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Incyte Does Not Excite

Posted: 01 Aug 2011 02:02 PM PDT

Incyte Corporation's (NASDAQ:INCY) second quarter 2011 loss of $0.41 per share was wider than the Zacks Consensus Estimate by $0.05. The wider loss suffered in the reported quarter was attributable to lower revenues and higher operating expenses. The company earned $0.02 per share in the corresponding period of 2010.
Total revenues in the reported quarter declined to $16.8 million versus $49.8 million recorded a year-ago. The year-ago revenues were boosted by the recognition of $33.0 million as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Peet’s Coffee & Tea

Posted: 01 Aug 2011 02:02 PM PDT

Peet’s Coffee & Tea Inc. (NASDAQ:PEET), one of the world's leading specialty coffee roaster and marketer of fresh roasted whole bean coffee, is scheduled to report its second-quarter 2011 financial results on Tuesday, August 2, 2011.
The current Zacks Consensus Estimate for the quarter is pegged at 32 cents a share. The Zacks Consensus Estimate projects revenues for the quarter to be $88 million.
First Quarter 2011 Recaps
Peet's, which faces stiff competition from Green Mountain Coffee … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gen-Probe’s 2Q Mixed, Tweaks View

Posted: 01 Aug 2011 02:02 PM PDT

Diagnostic products maker Gen-Probe's (NASDAQ:GPRO) second-quarter fiscal 2011 adjusted (excluding one-time charges) earnings of 51 cents beat the Zacks Consensus Estimate by a couple of cents while it trailed the year-ago adjusted earnings by a penny.
However, profit (as reported) toppled 21% year over year to $22.3 million (or 45 cents a share) as the California-based company saw double digit declines across its blood screening and research products/services businesses.
Revenue Analysis
Revenues … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Rent-A-Center Expands In Missouri

Posted: 01 Aug 2011 02:02 PM PDT

Rent-A-Center Inc. (NASDAQ:RCII), in an attempt to expand its operational roots in Missouri, opened an additional store in Warrenton. The new store will provide the residents of Warrenton an additional avenue to own luxury furnishings, electrical devices, electronics and computers.
The new 3,100-square-foot showroom will offer brands like HP, Ashley, Sony, Serta and Whirlpool. Rent-A-Center operates through 67 locations in the state of Missouri.
Rent-A-Center is one of the largest rent-to-own … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apple Leads Smartphone Market

Posted: 01 Aug 2011 02:02 PM PDT

Apple Inc. (NASDAQ:AAPL) added another feather to its success story as it outsold Nokia Corp (NYSE:NOK) and Samsung to become the largest smartphone maker in the second quarter of 2011 in terms of global shipments of smartphones. Research firm Strategy Analytics confirmed Apple's iPhones to have grabbed an estimated 18.5% market share, compared with 13.5% a year earlier.
With an estimated 17.5% market share (19.2 million units), Samsung is close on the heels of Apple. However, Nokia narrated a sad … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Central Garden

Posted: 01 Aug 2011 02:02 PM PDT

Central Garden & Pet Company (NASDAQ:CENT), one of the leading producers and marketers of premium and value-oriented products, is slated to report its third-quarter 2011 financial results on August 3, 2011. The current Zacks Consensus Estimate for the quarter is 47 cents a share. For the quarter to be reported, the Zacks Consensus Estimate for revenue is $489 million.
Second-Quarter 2011, a Synopsis
Central Garden & Pet Company delivered a quarterly income of 54 cents a share, beating the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 01 Aug 2011 01:55 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4249, down 1.03% at time of writing.<br/><br/> The pair was likely to find support at 1.4186, today&rsquo;s low, and resistance at 1.4536, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Up Toward The End Of U.S. Session

Posted: 01 Aug 2011 01:40 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> USD/JPY was trading at 77.24, up 0.62% at time of writing.<br/><br/> The pair was likely to find support at 76.31, today&rsquo;s low, and resistance at 78.17, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Financing/Development Deals

Posted: 01 Aug 2011 01:38 PM PDT

Brian Marckx, CFA
Financing/Development Deals
Vicor Technologies’ (VCRT) spate of disappointing news over the last few months was quelled last week when the company filed back-to-back 8-K’s announcing a new financing deal and a licensing/development agreement.  

We cover Vicor with an Outperform rating.  

Financing Deal
With their cash balance dwindling, Vicor has been running on fumes.  Their cash tank may soon get a bit of a refill, however.  In a July 26th 8-K filing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Comerica Ratings Affirmed

Posted: 01 Aug 2011 01:38 PM PDT

The ratings of Comerica Inc. (NYSE:CMA) and its subsidiary bank have been affirmed by Fitch Ratings following the completion of the Sterling Bancshares buyout. The outlook remains stable.
Last week, Comerica closed the acquisition of Sterling Bancshares Inc. (SBIB). All of the outstanding shares of the common stock of Sterling were acquired by Comerica in a stock-for-stock transaction.
Fitch has affirmed Comerica Inc.'s long-term Issuer Default Ratings (IDRs) at ‘A’; short-term IDR at ‘F1′; … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Lower; Dow Jones Down 0.09%

Posted: 01 Aug 2011 01:25 PM PDT

Forexpros – U.S. stocks were down after the closing bell on Monday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average fell 0.09%, the S&P 500 index shed 0.41%, while the Nasdaq 100 index declined 0.37%.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month from 55.3 in the preceding month.<br/><br/>Analysts had expected the ISM manufacturing PMI to fall to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 01 Aug 2011 01:25 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4251, down 1.01% at time of writing.<br/><br/> The pair was likely to find support at 1.4186, today&rsquo;s low, and resistance at 1.4536, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Lower; Dow Jones Down 0.21%

Posted: 01 Aug 2011 01:10 PM PDT

Forexpros – U.S. stocks were down after the closing bell on Monday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average fell 0.21%, the S&P 500 index shed 0.47%, while the Nasdaq 100 index declined 0.38%.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month from 55.3 in the preceding month.<br/><br/>Analysts had expected the ISM manufacturing PMI to fall to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q2 Results. Street’s Over-Reaction Prompts Upgrade

Posted: 01 Aug 2011 01:02 PM 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

Bank Failures: 61 So Far In ’11

Posted: 01 Aug 2011 01:02 PM PDT

Bank failures continue unabated as the U.S. regulators closed down three more banks in Indiana, Virginia and South Carolina last Friday. This brings the number of U.S. bank failures to 61 so far in 2011, preceded by 157 in 2010, 140 in 2009 and 25 in 2008.
While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging issues like rock-bottom home prices along with still-high loan defaults and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Archer Daniels

Posted: 01 Aug 2011 01:02 PM PDT

Archer Daniels Midland Company (NYSE:ADM), one of the leading food processing companies in the world, is scheduled to report its fourth-quarter 2011 financial results before the opening bell on August 2, 2011.
The current Zacks Consensus Estimates for the quarter is earnings of 84 cents a share. For the quarter under review, revenue is expected at $20,484.0 million, according to the Zacks Consensus Estimate.
Third-Quarter 2011 Summary
Archer Daniels reported robust third-quarter 2011 results. Net … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

OGE Energy Unit Files For Rate Hike

Posted: 01 Aug 2011 01:02 PM PDT

OGE Energy Corporation (NYSE:OGE) stated that its unit OG&E has filed for a $73 million rate increase, with the Oklahoma Corporation Commission, to recover investments made by the company over the last two and half years. If approved, the new rates will come into effect from the first quarter of 2012.
Over the last couple of years and a half the company has invested around $500 million for system expansion and improvement in the quality of services including the dissemination of information to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Charting The Multi-Timeframe Make Or Break Support At Dow 12000

Posted: 01 Aug 2011 12:59 PM PDT

Well, here we are at the well-known Make or Break chart support at Dow 12,000.
This is what I mean when I say refer to critical chart reference levels to make objective sense of all the good and bad – often confusing – economic/political headlines affecting the market at the moment.
It's really as simple as "The market is holding critical support so that's objectively bullish, or it's firmly breaking strongly under critical support which is objectively bearish."
If you're … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down During The U.S. Session

Posted: 01 Aug 2011 12:55 PM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> GBP/USD was trading at 1.6296, down 0.79% at time of writing.<br/><br/> The pair was likely to find support at 1.6238, today&rsquo;s low, and resistance at 1.6476, today&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Loews Lags Bottom Line Estimate

Posted: 01 Aug 2011 12:35 PM PDT

Loews Corporation (NYSE:L) reported its second-quarter 2011 adjusted net income of 59 cents per share, lagging the Zacks Consensus Estimate by 16 cents. Results were also below 87 cents earned in the prior-year quarter. Adjusted net income was $240 million, 34% lower than $365 million in second-quarter 2010.
Lower favorable net prior year development at CNA Financial Corporation (NYSE:CNA) coupled with higher catastrophe losses induced the soft performance in the quarter. However, higher earnings at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Meritage Tops, Revenues Fall

Posted: 01 Aug 2011 12:35 PM PDT

Meritage Homes Corporation (NYSE:MTH) reported net income of $562,000 or 2 cents per share in the second quarter of 2011, significantly lower than $4.2 million or 13 cents per share delivered in the year-ago quarter.
The reported income included asset impairment charges of $590,000 versus $304,000 in the year-ago quarter along with a loss of $3.5 million on early extinguishment of debt.
Excluding these items, the adjusted income for the quarter stood at $1.15 million or 4 cents per share compared … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Loss At Regeneron Widens

Posted: 01 Aug 2011 12:35 PM PDT

Regeneron Pharmaceuticals Inc.'s (NASDAQ:REGN) second quarter 2011 net loss of $0.69 per share was wider than the Zacks Consensus Estimate of a net loss of $0.41. The company suffered a loss of $0.31 in the year-ago quarter. The wider loss suffered by the company in the reported quarter was attributable to lower revenues and higher operating expenses.
Quarterly Results in Detail
Total revenue in the reported quarter declined 7% to $107.8 million. Revenues also fell short of the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

RightNow Posts Strong Results

Posted: 01 Aug 2011 12:35 PM PDT

RightNow Technologies Inc. (NASDAQ:RNOW) reported earnings from continuing operations of 4 cents per share for the second quarter of 2011, exceeding the Zacks Consensus Estimate of a loss per share of 1 cent.
Total revenues for the quarter were $54.8 million, up 26% year over year.
In terms of revenue mix, Recurring revenue, a key measure of growth, was $45.4 million, up 31% from the year-earlier quarter.  Revenues from Professional Service were $9.4 million, up 8% from the year-earlier … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Mack-Cali EPS In Line, Revs Lag

Posted: 01 Aug 2011 12:35 PM PDT

Mack-Cali Realty Corp. (NYSE:CLI) reported second quarter 2011 FFO (fund from operations) of $69.1 million or 69 cents per share, compared  with $66.1 million or 71 cents per share in the year-earlier quarter.
Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. FFO per share in the quarter was in line with the Zacks Consensus Estimate.
Total revenue was $181.1 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Louisiana-Pacific Disappoints

Posted: 01 Aug 2011 12:35 PM PDT

Louisiana-Pacific Corporation (NYSE:LPX) reported a loss of $33 million or 25 cents per share from continuing operations in the second quarter of 2011 compared with an income of $24 million or 17 cents per share in the year-ago quarter. The loss was much wider than the Zacks Consensus Estimate of a loss of 16 cents per share.
Net sales declined 19% year over year to $362.4 million, driven by a weak housing environment, poor demand for houses, rising inventories, high unemployment and lower … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Quality System Beats On Record Rev

Posted: 01 Aug 2011 12:35 PM PDT

Quality Systems (NASDAQ:QSII) reported first-quarter fiscal 2012 (ended June 30) earnings per share of 65 cents, beating the Zacks Consensus Estimates of 62 cents and surpassing the corresponding year-ago earnings of 42 cents. Net income jumped 57% year over year to $19 million in the reported quarter buttressed by higher revenues and backed by a moderate increase in selling, general and administrative (SG&A) expense. 
Revenues
Sales aggregated to a record $100.4 million in the first … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Alere’s Results Mixed In 2Q

Posted: 01 Aug 2011 12:35 PM PDT

Alere (ALR), a medical products company focused on integrating rapid diagnostics with health management, reported second-quarter fiscal 2011 adjusted earnings per share of 53 cents, beating the corresponding Zacks Consensus Estimate of 51 cents.
Reported net loss was about $4.7 million (or 5 cents per share) in the second quarter compared with a loss of $8.3 million (10 cents per share) in the prior-year period. Reported net loss in the most recent quarter contains, among other items, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CHF Down In U.S. Trading Hours

Posted: 01 Aug 2011 12:30 PM PDT

Forexpros – The U.S. Dollar was lower against the Swiss Franc on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> USD/CHF was trading at 0.7824, down 0.43% at time of writing.<br/><br/> The pair was likely to find support at 0.7734, today&rsquo;s low, and resistance at 0.8047, Thursday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Income Mobility For All Income Groups Is Significant

Posted: 01 Aug 2011 12:18 PM PDT

From a 2010 St. Louis Fed report “U.S. Income Inequality: It's Not So Bad”:

“One big problem with inferring income inequality from the census income statistics is that the census statistics provide only a snapshot of income distribution in the U.S., at a single point in time. The statistics do not reflect the reality that income for many households changes over time—i.e., incomes are mobile. For most people, income increases over time as they move from their first, low-paying job in high … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 01 Aug 2011 12:10 PM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> USD/CAD was trading at 0.9565, up 0.09% at time of writing.<br/><br/> The pair was likely to find support at 0.9411, Wednesday&rsquo;s low, and resistance at 0.9605, today&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

How Will Debt Ceiling Deal Impact Gold And Silver Prices?

Posted: 01 Aug 2011 12:05 PM PDT

Each day our fascination with the market kaleidoscope arises as it attempts to influence us and confuse us at the same time.  This is why Gold Stock Trades examines the unfolding developments with the panoramic eye of an eagle.  This great bird of prey is gifted with vision that can see both the immediate terrain and at the same time extending to the most distant horizon.  In like manner, our telescopic view surveys the daily events as they might possibly influence our long range … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Asphalt Business Propels NuStar

Posted: 01 Aug 2011 12:01 PM PDT

San Antonio-based publicly traded partnership NuStar Energy L.P. (NS) announced strong second quarter results, driven by higher operating income from the asphalt and fuels marketing business.
The owner and operator of crude oil and refined products pipelines and storage facilities reported earnings per unit (EPU) of $1.34 (excluding the effect of special items), comfortably surpassing the Zacks Consensus Estimate of $1.10 and the year-ago profit of $1.13.
Revenue of $1,589.2 million surpassed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Earnings Picture To Date

Posted: 01 Aug 2011 12:01 PM PDT

Second quarter earnings season is well underway now with 319, or 63.8%, of S&P 500 reports in. With the exception of a handful of financials, most notably Bank of America (NYSE:BAC), which had a $12 billion negative swing in net income from last year, this is another great earnings season.

The year-over-year growth rate for the S&P 500 is 10.8%, way off the 21.4% pace those same 319 firms posted in the first quarter. However, if you exclude the Financial sector growth is 21.5%, down only … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PDLI Lags On Lower Avastin Royalty

Posted: 01 Aug 2011 12:01 PM PDT

PDL BioPharma Inc. (NASDAQ:PDLI) posted second quarter earnings of 39 cents per share, a penny above the year-ago figure of 38 cents due to lower general and administrative expenses in the quarter. Earnings were however a penny short of the Zacks Consensus Estimate of 40 cents due to revenue not being able to meet the consensus estimate.
PDL BioPharma currently derives a significant portion of its revenue from licenses granted to other companies under the Queen et al patents, covering the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 01 Aug 2011 11:45 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> EUR/USD was trading at 1.4254, down 0.99% at time of writing.<br/><br/> The pair was likely to find support at 1.4186, today&rsquo;s low, and resistance at 1.4536, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Winter Strikes Help Boost This Metal’s Price

Posted: 01 Aug 2011 11:40 AM PDT

Winter Strikes Help Boost This Metal's Price
by Matthew Carr, Investment U Contributor
Monday, August 1, 2011: Issue #1568
Ah, winter time in South Africa. The days are sunny and warm. The nights devilishly cold, near freezing. But more importantly, if it's winter in South Africa, that can only mean one thing…
It's the annual "coming apart at the seams." That's right, the 2011 strike season is in full swing!
Early July in the United States is full of picnics, baseball games, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Talisman Fails To Charm

Posted: 01 Aug 2011 11:35 AM PDT

Canadian energy explorer Talisman Energy Inc. (TLM) came out with weaker-than-expected second quarter 2011 results, hampered by the imposition of higher taxes on North Sea oil production by the U.K. and lower liquids production.
Alberta-based Talisman – which recently changed its reporting currency to U.S. dollars – announced earnings per share from continuing operations (excluding non-operating items) of 16 cents, significantly below the Zacks Consensus Estimate of 33 cents.
However, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Weak Data In Focus

Posted: 01 Aug 2011 11:18 AM PDT

Cusick’s Corner
Well the market initially thought that a deal on the Debt ceiling was very close to being made but the reality is that the data is weak and the market is taking notice. I spoke about that last week that we can see the debt, we can anticipate where it is going and the impact on growth. But the market was not ready for weak consumer data, orders and sentiment lower, and now the purchasing managers, ISM, are chiming in and they have lowered their sentiments. We also have some … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 01 Aug 2011 11:15 AM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> AUD/USD was trading at 1.0947, down 0.44% at time of writing.<br/><br/> The pair was likely to find support at 1.0912, Friday&rsquo;s low, and resistance at 1.1080, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Education, Human Capital More Important Than Financial Capital

Posted: 01 Aug 2011 11:08 AM PDT

Education, Human Capital more important than Financial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Orthopedic Drives Greatbatch In 2Q

Posted: 01 Aug 2011 11:05 AM PDT

Greatbatch's (NYSE:GB) second-quarter fiscal 2011 adjusted (excluding one-time expenses/gains) earnings per share of 43 cents were in line with the Zacks Consensus Estimate and above the year-ago adjusted earnings of 40 cents. Profit (as reported) jumped 9.8% year over year to roughly $8.6 million (or 36 cents a share) owing to higher sales. The Clarence, New York-based company raised its revenue and earnings forecast for the full year.
Revenues
Revenues rose 4% year over year to $146.5 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

TriQuint Misses By A Penny

Posted: 01 Aug 2011 10:55 AM PDT

TriQuint Semiconductor, Inc (TQNT) reported revenues of $228.8 million in the second quarter of 2011, up 10% year over year and up 2% sequentially.
TriQuint is an original equipment manufacturer of semiconductor communication integrated circuits.
In particular, revenues from Mobile Devices (the largest of the three major markets that the company serves – Mobile Devices, Networks, and Defense and Aerospace) accounted for 70% of total revenues and grew 19% year over year.
Networks, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stratasys Reports Decent 2Q

Posted: 01 Aug 2011 10:55 AM PDT

Stratasys Inc. (SSYS) reported earnings per share of 22 cents in the second quarter of 2011, which outpaced the Zacks Consensus Estimate by a penny.
Revenue
Stratasys reported second quarter 2011 revenue of $37.6 million, up 24.9% from $30.1 million in the year-ago quarter. The second quarter results include contributions from the newly acquired Solidscape Inc. The acquisition was completed in April this year and contributed $2.1 million in revenue to the quarter's results.
Excluding the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tenneco Exceeds Estimates

Posted: 01 Aug 2011 10:55 AM PDT

Tenneco Inc. (NYSE:TEN) showed a profit of $50 million or 81 cents per share (before special items) during the second quarter of the year versus $38 million or 62 cents per share (before special items) in the same quarter of previous year. The profit exceeded the Zacks Consensus Estimate of 75 cents per share.
Revenues in the quarter rose 26% to $1.89 billion driven by a strong original equipment (OE) production volumes across all regions, launch of new commercial vehicle emissions control … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Expedia Tops, Opex On The Rise

Posted: 01 Aug 2011 10:55 AM PDT

Expedia Inc.'s (NASDAQ:EXPE) second quarter earnings beat the Zacks Consensus Estimate by 8 cents, or 14.8%. Solid revenue that beat consensus expectations offset higher costs and taxes to generate the results.
Revenue
Revenue for the quarter was $1.02 billion, up 24.5% sequentially and 22.7% year over year. Strength across segments, a notably stronger merchant business, international growth, higher room night volumes and continued increase in the average daily rate were the highlights of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earning Preview: Southwest Airlines

Posted: 01 Aug 2011 10:55 AM PDT

The leading low cost carrier, Southwest Airlines Co. (NYSE:LUV) is slated to release its second quarter earnings on August 4 before market opens. The current Zacks Consensus Estimate for the second quarter is pegged at 21 cents, representing a decline of 29.02% from the year-ago level.
With respect to earnings surprise, over the trailing four quarters, Southwest Airlines has outperformed the Zacks Consensus Estimate for all the four consecutive quarters with average positive surprises of 7.77%.
We … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CSC, Pan-American In Insurance Deal

Posted: 01 Aug 2011 10:55 AM PDT

Virginia-based Computer Sciences Corp. (NYSE:CSC) announced that it has inked a licensing agreement with New Orleans, Los Angeles based Pan-American Life Insurance Company. Financial terms of the deal were not disclosed.
Under the agreement, Pan-America has licensed Computer Sciences' Insurance Industry Data model (IIDM) version 3.0. This software consolidates various sources of information and presents those through logical representations.
Pan-American Life Insurance Group, which serves around … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Options Trades On HSBC Signal Investor Optimism

Posted: 01 Aug 2011 10:46 AM PDT

Options trades on HSBC signal investor optimism
Today's tickers: HBC, TEVA, TLB & CAVM
(NYSE:HBC) – HSBC Holdings PLC – Shares in the financial services provider increased 2.9% to $50.30 at the start of the trading week on news Europe's largest bank by market value agreed to sell its upstate New York branch network to First Niagara Financial Group for around $1 billion. The London-based company said it plans to cut $3.5 billion in costs over the next two years by trimming 10% of its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Down During The U.S. Session

Posted: 01 Aug 2011 10:45 AM PDT

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Monday after the release of U.S. data on ISM Manufacturing Index.<br/><br/> NZD/USD was trading at 0.8743, down 0.57% at time of writing.<br/><br/> The pair was likely to find support at 0.8623, Friday&rsquo;s low, and resistance at 0.8842, today&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Uzbekistan Central Bank Holds Rate At 12.00%

Posted: 01 Aug 2011 10:44 AM PDT

The Central Bank of the Republic of Uzbekistan held its refinancing rate unchanged at 12.00%.  The Bank noted: “According to the primary directions of the monetary policy for 2011, as well as the actual and expected inflation level, the bank kept its refinancing rate unchanged,”.  The Bank last reduced the refinancing rate by 200 basis points to 12.00% from 14.00% in late December 2010.  Uzbekistan reported annual inflation of 7.3% in 2010, compared to 7.4% in 2009, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Statoil Grows On Oil Prices

Posted: 01 Aug 2011 10:35 AM PDT

Statoil ASA's (NYSE:STO) second-quarter 2011 earnings of 74 cents per ADR inched passed the Zacks Consensus Estimate of 73 cents. However, quarterly results showed a significant improvement from the year-earlier earnings of 54 cents per ADR, attributable to higher liquids prices.
Adjusted net income after-tax came in at NOK 12.8 billion ($2.35 billion), up from the year-earlier level of NOK 10.6 billion ($1.71 billion).
The rise also shows a NOK 7.5 billion gain from asset sales. The company … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Botswana Central Bank Holds Rate At 9.50%

Posted: 01 Aug 2011 10:30 AM PDT

The Bank of Botswana’s Monetary Policy Committee kept the benchmark interest rate steady at 9.50%.  The Bank said: “The current state of the economy and the assumptions on both the domestic and external economic outlook, as well as the inflation forecast, suggest that maintaining the prevailing level of interest rates is consistent with the achievement of the Bank’s 3 – 6 percent inflation objective in the medium term.”

Previously the Bank also maintained the bank … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EUR/CHF Drops Precipitously To Hit Downside Price Target

Posted: 01 Aug 2011 10:19 AM PDT

EUR/CHF (daily chart) as of Monday (8/01/2011) has dropped dramatically to hit its downside target area just above 1.1000, establishing yet a new all-time low around 1.1023 in the process. This occurs within the context of a clear long-term, medium-term, and short-term bearish trend for the pair. This downside target price region represents both a key 161.8% Fibonacci extension as well as a separate 261.8% Fibonacci extension target within uncharted price territory. A bullish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Volatility…going To See A Lot Of This”

Posted: 01 Aug 2011 10:15 AM PDT

08/01/11 Empire Executions’ Peter Costa weighs in on today’s market volatility and key levels for the S&P … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cross-Market Surprises For A Monday Morning

Posted: 01 Aug 2011 10:14 AM PDT

Traders across the board were thrown for a nauseating loop as we transitioned from the cross-market excitement on Sunday evening that a deal was reached.
That excitement turned to panic as Monday's market opened, reversing the optimistic gains into sudden "collapse" losses.
Let's take a look at some of these moves and see what happened, what went wrong, and were do we go from here.
Here's the current 30-min Cross-Market Perspective:

Taken one at a time, the "Risk-On" markets of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD Mixed On ISM Manufacturing Data

Posted: 01 Aug 2011 10:10 AM PDT

08/01/11 The USD reversed earlier weakness vs. the EUR, and remained lower against the CHF and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ICICI Bank Posts Upbeat Results

Posted: 01 Aug 2011 10:05 AM PDT

ICICI Bank Limited's (NYSE:IBN) fiscal first quarter 2012 (ended June 30, 2011) profit came in at INR13.32 billion (US$298 million), up 29.8% from INR10.26 billion (US$230 million) in the year-ago quarter.
Improved results were primarily driven by higher net interest income, fee income and a substantial decline in loan loss provisions. However, higher operating expenses and lower other non-interest income were the headwinds. Asset quality continued to show signs of betterment and capital ratios … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ISM Manufacturing Index Plunges

Posted: 01 Aug 2011 10:05 AM PDT

The Institute for Supply Management's (ISM) manufacturing index dropped to 50.9 in July from 53.3 in June. This was a big negative surprise as the consensus had been looking for the index to fall to just 54.0. In other words, the manufacturing economy is still expanding, but just barely.

This is a "magic 50 index" where any reading over 50 indicates that the manufacturing side of the economy is expanding and any reading under 50 indicates a contraction in manufacturing. The overall index … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Everest Re Reiterated At Neutral

Posted: 01 Aug 2011 10:05 AM PDT

We are reiterating our Neutral recommendation on the shares of Everest Re Group Ltd. (NYSE:RE) following the release of its second quarter 2011 results. The company posted second quarter earnings of $2.46 per share, beating the Zacks Consensus Estimate by 2 cents, on the back of higher-than-expected revenues. Results, however, suffered year over year owing to heavy catastrophe losses during the quarter.
Everest Re's U.S. Reinsurance segment has been performing quiet well recently. Management … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Eni Disappoints In 2Q

Posted: 01 Aug 2011 10:05 AM PDT

Eni SpA's (NYSE:E) adjusted second quarter 2011 earnings per ADR of $1.15 (40 Euro cents per share) came in nowhere near the Zacks Consensus Estimate of $1.42. The quarter's earnings were nearly 2% below $1.17 per ADR (46 Euro cents per share) earned in the year-earlier quarter.
Total revenue jumped nearly 8% to €24.95 billion ($35.89 billion) in the quarter from the year-ago revenue of €23.15 billion ($31.64 billion).
The quarterly performance was affected by sales losses to shippers, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/USD Completes A Gartley At 61.8% And 50% Retracement Cluster

Posted: 01 Aug 2011 10:03 AM PDT

Prev: EUR/USD Pushes Below 1.4250, Returning to Consolidate wit Bearish Bias (7/29)
EUR/USD

Sharp Retracement into a Gartley:
- Last Friday, EUR/USD was not able to sustain a push below 1.4250 (all the 4H candles retreated when they closed).
- At the start of this week the EUR/USD rejected an Asian session rally, and started to fall in the European session, and continued to plunge getting into the US session. After testing 1.4450 resistance, the market fell to as low as 1.4184 in the US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Falls On Weak Data

Posted: 01 Aug 2011 05:00 AM PDT

08/01/11 Crude oil prices slid as the ISM manufacturing reading for July fell to its lowest level in two years. Heightened fears of weaker demand weighed on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Lower; Dax Down 2.86%

Posted: 01 Aug 2011 09:55 AM PDT

Forexpros – European stocks were down after the closing bell on Monday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 2.86%, London&rsquo;s FTSE 100 shed 0.70%, France&rsquo;s CAC 40 declined 2.27% and the EURO STOXX 50 was down 2.88%.<br/><br/> Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI fell more-than-expected to 50.9 last month from 55.3 in the preceding month.<br/><br/>Analysts had … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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