Thursday, August 4, 2011

DailyMarkets.com - Itau Unibanco Profits In Q2

DailyMarkets.com - Itau Unibanco Profits In Q2

Itau Unibanco Profits In Q2

Posted: 04 Aug 2011 09:55 AM PDT

Brazil's Itau Unibanco Holding S.A. (ITUB) has reported second quarter 2011 net income of R$3.60 billion ($2.3 billion), which surpassed R$3.53 billion earned in the prior quarter and R$3.17 billion in the year-ago quarter. However, excluding non-recurring items, Itau Unibanco reported second quarter 2011 earnings of R$ 3.317 billion, down 8.8% sequentially but up 0.6% year over year.
The sequential decrease reflects increased provisions for loan losses and higher expenses. This was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CVS Beats By A Penny, Guidance Narrowed

Posted: 04 Aug 2011 09:55 AM PDT

CVS Caremark (NYSE:CVS) reported second quarter 2011 EPS of 60 cents, at par with the year-ago quarter earnings. However, after excluding the impact of certain one-time items, adjusted earnings per share came in at 65 cents, surpassing the Zacks Consensus Estimate by a penny but meeting the year-ago quarter's adjusted earnings.
Net revenues increased 10.9% year over year to $26.6 billion, in line with the Zacks Consensus Estimate.
The Pharmacy Services segment recorded a robust 23.2% increase in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Fortune Brands Misses Estimates

Posted: 04 Aug 2011 09:55 AM PDT

Fortune Brands Inc.’s (NYSE:FO) adjusted earnings of 71 cents a share for the second quarter of fiscal 2011 missed the Zacks Consensus Estimate of 97 cents and declined 5.1% from the prior-year quarter. Earnings, on a GAAP basis, were 65 cents per share compared with $1.17 per share posted in the year-ago quarter.
Quarterly Details
Net sales during the reported quarter grew 5.5% year over year to $1,592.4 million, but fell short of the Zacks Consensus Estimate of $1,926.0 million. Fortune Brands’ … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Southwest Profits On AirTran Merger

Posted: 04 Aug 2011 09:55 AM PDT

Before the opening bell, the low-cost carrier Southwest Airlines Co. (NYSE:LUV) declared its second quarter 2011 adjusted earnings of 15 cents per share, which trailed the Zacks Consensus Estimate of 21 cents and year-ago earnings of 29 cents. The second quarter results include the financial results of AirTran, following its acquisition on May 2, 2011.
Adjusted earnings in the second quarter excluded approximately $40 million or 6 cents per share (net of taxes) special item, primarily related to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Edison Int’l Beats, Keeps Guidance

Posted: 04 Aug 2011 09:55 AM PDT

Before the bell, Edison International (NYSE:EIX) reported its second quarter 2011 results. In the reported quarter, the company clocked core earnings of 54 cents per share, comfortably above the Zacks Consensus Estimate of 49 cents.
However, earnings came in below the year-ago quarterly core earnings of 62 cents per share. The results reflect rate base growth at Southern California Edison (''SCE'') that was more than offset by the tax benefits in the prior-year period due to a change in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Prudential Tops Estimates

Posted: 04 Aug 2011 09:55 AM PDT

Prudential Financial Inc.'s (PRU) second quarter 2011 earnings of $1.71 per share have topped the Zacks Consensus Estimate of $1.55 as well as the prior-year quarter's earnings of 88 cents. Results were aided by solid performance in the company's U.S. annuities and asset management businesses as well as its international insurance operations.
Prudential has reported revenues of $10.2 billion, up 32% year over year primarily due to higher asset management fees, commissions and other … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Avnet

Posted: 04 Aug 2011 09:55 AM PDT

Avnet Inc. (NYSE:AVT) is scheduled to announce its fourth quarter and fiscal 2011 results on Wednesday, August 10, 2011.
The company has consistently exceeded expectations. On average, Avnet has beaten the Zacks Consensus Estimate by 11.48% in the last four quarters.
Third-Quarter Recap   
Avnet posted an adjusted net income (excluding the impact of restructuring, integration and other one-time items) of $1.10 per share compared with 76 cents per share in the year-earlier … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JPM, BK Likely To Suffer Rating Cut

Posted: 04 Aug 2011 09:55 AM PDT

Over the next 18 months, debt ratings of JPMorgan Chase & Co. (NYSE:JPM) and Bank of New York Mellon Corporation (NYSE:BK) might be lowered by Moody’s Investors Service, the rating arm of Moody’s Corp. (NYSE:MCO). According to the rating agency, both these banks might receive less government support for their bailout in the future, which would be the prime reason behind the possible rating cut.
Though the rating agency confirmed JPM's senior debt rating at 'Aa3' and BK's at 'Aa2', it … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DaVita Beats Estimates

Posted: 04 Aug 2011 09:35 AM PDT

DaVita Inc. (DVA) reported second-quarter net operating income of $114.4 million, or $1.17 per share, which exceeded the Zacks Consensus Estimate by 3 cents. The earnings were also higher than $110.4 million or $1.06 per share earned in the comparable quarter of 2010.
Earnings for the year-ago quarter exclude after-tax debt redemption charges of $2.5 million or 2 cents per share, while the reported quarter's earnings exclude after-tax non-cash goodwill impairment charges of $14.4 million or … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Claims At The 400K Mark

Posted: 04 Aug 2011 09:35 AM PDT

Initial Claims for Unemployment Insurance fell by 1,000 last week to 400,000. This was better than the expected level of 405,000. However, last week's numbers were revised upwards by 3,000, so one could see it as an increase of 2,000. Recently they seemed stuck once again in a trading range above the 400,000 level, after a brief period lower than that earlier this year. The drop below 400,000 level is very good news after 15 straight weeks above it.

However, that psychological victory just … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: Caution

Posted: 04 Aug 2011 09:18 AM PDT

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

Canadian Dollar: Caution

Posted: 04 Aug 2011 09:18 AM PDT

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

Can The Swiss Be Stopped?

Posted: 04 Aug 2011 09:18 AM PDT

Thursday, August 4, 2011
The Swiss Franc has become the safe haven currency of choice for many investors, due to Switzerland’s isolation from the sovereign debt storm facing Europe. The currency’s success could, however, spell doom for Swiss economic growth, and its success could become its undoing. The Swiss National Bank has begun to take action instead of idly sitting by, lowering target rates to zero and expanding its monetary base. Technically, the chart is beginning to show signs that the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pioneer Beats On Volume Growth

Posted: 04 Aug 2011 09:10 AM PDT

Pioneer Natural Resources Company (NYSE:PXD) has reported second quarter 2011 adjusted earnings of 94 cents per share, outpacing the Zacks Consensus Estimate of 83 cents and showing a decent improvement from the year-earlier adjusted income of 43 cents. Better-than-expected results were mainly attributable to production growth in Spraberry field, Eagle Ford Shale and the Barnett Shale Combo.
Revenues in the quarter registered an almost 35% growth to $602.1 million from $446.6 million in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Texas Capital Upped To Outperform

Posted: 04 Aug 2011 09:02 AM PDT

We have upgraded our recommendation on Texas Capital Bancshares Inc. (NASDAQ:TCBI) to Outperform from Neutral following a detailed analysis of its fundamentals in light of the current economic environment.
Texas Capital reported second quarter 2011 operating earnings of 44 cents per share, which came in well ahead of the Zacks Consensus Estimate of 36 cents. The results were also above the prior-year quarter's earnings of 22 cents per share.
Quarterly results benefited from an increase in net … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Texas Roadhouse Falls Short

Posted: 04 Aug 2011 08:50 AM PDT

Texas Roadhouse Inc. (NASDAQ:TXRH) recently posted second quarter 2011 earnings of 22 cents, which missed the Zacks Consensus Estimate of 24 cents and declined 7% year over year. The results were lower than expected due to higher costs that contracted margin. A significantly high amount of pre-opening expenses also adversely impacted its earnings. Pre-opening expenses also increased a drastic 68% year over year.
Total revenue climbed 10.0% from the prior-year quarter to $279.6 million. The upside in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

What To Expect From Tomorrow’s NFP After This Week’s Labor Reports

Posted: 04 Aug 2011 08:46 AM PDT

Scenarios for Tomorrow's Non-Farm Payrolls:
The consensus forecast for July's NFP tomorrow is for a gain of around 90K-100K. The ADP and Challenger data this week gave us a mixed picture, but we should be able to escape the very weak job growth seen in May and June.

Better Than Expected: If payrolls come in stronger than the reading expected, say 115K and above, that will be a positive for the USD as it will be a small bright sign in what has been a string of weak data. A gain of 130K+ … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USD/JPY Spikes Then Pulls Back On Intervention

Posted: 04 Aug 2011 08:42 AM PDT

USD/JPY (4-hour chart) as of Thursday (8/04/2011) jumped more than three big figures to poke above the key 80.00 psychological level on the heels of BOJ intervention, before pulling back and settling around the 79.00 price region. This rather swift spike brought price up to approach a key downtrend resistance line extending back to the late April high. Now sandwiched between resistance around 79.50 and support around 78.50, price is currently at a critical directional juncture. A break below … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CAT Loss Weighs On AXIS Capital

Posted: 04 Aug 2011 08:35 AM PDT

AXIS Capital Holdings Limited (NYSE:AXS) reported second-quarter operating earnings of 65 cents per share, comfortably exceeding the Zacks Consensus Estimate of 52 cents. Results, however, compared unfavorably with $1.13 earned in the prior-year period. Operating income was $83.1 million in the quarter, plummeting 46% from $152.8 million in second quarter 2010.
Higher premiums coupled with higher investment income were more than offset by elevated expenses inducing lower earnings in the quarter. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MoneyGram Flat YoY, Awaits Rebound

Posted: 04 Aug 2011 08:35 AM PDT

MoneyGram International Inc. (NYSE:MGI) reported first quarter loss per share of 26 cents, substantially lower than the Zacks Consensus Estimate of earnings of 2 cents, but in line with the year-ago quarter.
Results included stock-based compensation costs of $4.6 million, $2.9 million of restructuring and reorganization costs and $1.5 million in costs associated with the recapitalization. Reported net loss was $21.7 million as compared with net loss of $21.4 million in the year-ago quarter. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CONSOL Again Excels (revised)

Posted: 04 Aug 2011 08:35 AM PDT

CONSOL Energy Inc. (NYSE:CNX) reported earnings on the back of record revenue growth at the company's Coal division, which saw a rise for five quarters in a row. Adjusted earnings of 76 cents per share for the second quarter of 2011 matched the Zacks Consensus EPS forecast.

Company-wide revenue grew 83.2% in the second quarter, boasting record revenues of $1.588 billion, driven by higher-than-expected coal sales coupled with favorable coal prices. CONSOL's second quarter revenue also showed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Notes:A Look At The USD/JPY, EUR/JPY And GBP/JPY Post Japanese-Yen-Intervention

Posted: 04 Aug 2011 08:30 AM PDT

USD/JPY

Watch 77.82:
- The USD/JPY surged about 300 pips  after the Ministry of Finance intervened in the forex market to fend off the strength of the Japanese Yen.
- 80.00 is an important level, which the pair broke. However, it was not able to sustain the break, and a sharp rejection ensued.
- The USD/JPY is becoming very volatile so it may be prudent for traders to wait for clues from further reaction.
- If the market can stay above 77.82, we would be able to establish further bullish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Acorda Gains, But Misses Estimates

Posted: 04 Aug 2011 08:20 AM PDT

Acorda Therapeutics Inc. (NASDAQ:ACOR) recorded adjusted earnings of 7 cents per share for the second quarter of fiscal 2011, compared with a loss of 18 cents in the year-ago period. The Zacks Consensus Earnings Estimate for the quarter was 12 cents per share.
Higher revenues during the quarter led to the surge in the company's earnings.
Revenues
Quarterly revenues shot up 52.4% to $65.3 million, driven primarily by strong Ampyra sales. However, revenues marginally missed the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

For Commtouch Mobile Holds Promise

Posted: 04 Aug 2011 08:20 AM PDT

Ken Nagy, CFA
For Commtouch Mobile Holds Promise

On August 3, 2011, the cloud-based Internet security provider, Commtouch Software Ltd., (CTCH) reported financial results for its fiscal 2011 second quarter, ended June 30, 2011.

A solid second quarter performance resulted in a 39 percent year over year increase in revenue, with revenue expanding to $5.696 million from $4.104 million for the three months ended June 30, 2010.

U.S. GAAP (Generally Accepted Account Principles) net income proved … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Domino’s Pizza Tops On Higher Sales

Posted: 04 Aug 2011 08:20 AM PDT

Domino’s Pizza Inc. (NYSE:DPZ) reported second quarter 2011 earnings of 40 cents per share, which outpaced the Zacks Consensus Estimate by 4 cents and the year-ago quarter’s adjusted earnings by 7 cents.
The upbeat result was attributable to higher international royalty revenues, international expansion and lower interest expense.
Inside the Headline Numbers
Total revenue increased 6.2% year over year to $384.9 million, comfortably surpassing the Zacks Consensus Estimate of $374.0 million. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Henry Schein’s EPS In Line, Revs Up

Posted: 04 Aug 2011 08:20 AM PDT

Henry Schein (NASDAQ:HSIC) reported EPS of $1.01 in the second quarter of fiscal 2011, in line with the Zacks Consensus Estimate and 12.2% higher than the year-ago period.
Net sales reported a 15.2% rise to $2.1 billion, including a 10.1% increase in local currency and foreign currency growth of 5.1%. Revenues beat the Zacks Consensus Estimate of $2.03 billion.
Henry Schein derives revenues from dental, medical, animal health, international and, technology and value added services. These divisions … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

TRW Tops On Higher Sales

Posted: 04 Aug 2011 08:20 AM PDT

TRW Automotive Holdings Corp. (NYSE:TRW) reported net earnings of $293 million or $2.21 per share in the second quarter of 2011 compared with $227 million or $1.78 per share in the year-ago quarter.
The reported quarter included a gain of $19 million associated with the resolution of a commercial matter, a loss of $10 million related to the retirement of debt and tax benefits of $20 million, while the prior-year quarter included restructuring and asset impairment charges of $3 million, debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BRE Properties Beats Estimates

Posted: 04 Aug 2011 08:20 AM PDT

BRE Properties Inc (BRE) reported second quarter 2011 funds from operations (FFO) of $34.9 million or 49 cents per share versus $28.9 million or 46 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.  Recurring FFO in the quarter inched past the Zacks Consensus Estimate by a penny.
Total revenue from continuing operations … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: Wall Street Tumble, Key Tech Levels Breached

Posted: 04 Aug 2011 08:00 AM PDT

08/04/11 The major stock averages fell sharply on worries of a global economic slowdown. The USD soared vs. EUR and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Higher Vs. Euro But Trims Gains Against Yen

Posted: 04 Aug 2011 07:55 AM PDT

Forexpros – The U.S. dollar extended gains against the euro on Thursday, following remarks by European Central Bank President Jean-Claude Trichet, but trimmed gains against the yen as a dollar rally sparked by Japan&rsquo;s currency market intervention fizzled.<br /><br />During U.S. morning trade, the greenback was sharply higher against the euro, with EUR/USD tumbling 1.27% to hit 1.4140.<br /><br />Earlier in the day, ECB head Jean-Claude Trichet said the bank … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Plunge To 5-month Low After U.S. Supply Data

Posted: 04 Aug 2011 07:49 AM PDT

Forexpros – Natural gas futures extended losses on Thursday, plunging to a five-month low after a report from the U.S. Energy Information Administration showed that natural gas inventories rose more-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD3.965 per million British thermal units during U.S. morning trade, plunging 3.1%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Volatile Price Action On BoJ Intervention, ECB Rate Decision

Posted: 04 Aug 2011 07:48 AM PDT

The Japanese Yen plummeted across the board as the country's Ministry of Finance confirmed that it had indeed intervened in the currency markets, selling off ¥500 billion Yen in favor of the U.S. Dollar. The intervention marks the first time since September 15 that the Bank of Japan intervened unilaterally, although the G-7 facilitated a coordinated intervention in mid-March stemming from the natural disasters in order to weaken the currency. The losses on Thursday marked the greatest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Jump To Fresh Record On Global Growth Concerns

Posted: 04 Aug 2011 07:35 AM PDT

Forexpros – Gold futures extended gains on Thursday, climbing to a fresh record high for the third consecutive day as concerns that the U.S. economic recovery was stalling and lingering 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 USD1,681.45 a troy ounce during U.S. morning trade, climbing 1%.&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Pound Remains Down Against Broadly Stronger Dollar

Posted: 04 Aug 2011 07:29 AM PDT

Forexpros – The pound remained down against the broadly stronger U.S. dollar on Thursday, as Japan&rsquo;s intervention in currency markets to weaken the yen boosted the greenback.<br /><br />GBP/USD hit 1.6286 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.6307, tumbling 0.73%.<br /><br />Cable was likely to find support at 1.6223, Tuesday&rsquo;s low and an eight-day low and resistance at 1.6474, the high of August 1 and a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Moves Higher On BOJ Intervention

Posted: 04 Aug 2011 07:12 AM PDT

Bank of Japan intervenes to stop the rise in the JPY (fall in the USDJPY) but this time (versus when they intervened in March), they do not have the full support of the rest of the world. As a result, the impact should not be as great.  Looking at the 5 minute chart the 38.2% of the spike higher will be watched by traders to see if buyers emerge against the level.  The threat of additional intervention should keep the pairs sellers subdued (or at least fearful).

Looking at the daily … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Hit 5-week Low As Stronger Dollar Weighs

Posted: 04 Aug 2011 07:10 AM PDT

Forexpros – Crude oil futures extended losses on Thursday, falling to a fresh five-week low as a broadly stronger U.S. dollar and concerns over weakening energy demand from the U.S. dragged down prices. <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD90.50 a barrel during U.S. morning trade, tumbling 1.6%.<br /><br />It earlier fell as much as 1.65% to trade at USD90.42 a barrel, the lowest price June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Extends Losses After Trichet Remarks

Posted: 04 Aug 2011 07:04 AM PDT

Forexpros – The euro extended losses against the U.S. dollar on Thursday, falling to a 12-day low after European Central Bank President Jean-Claude Trichet said the bank will conduct more cash operations to provide liquidity to banks as the region&rsquo;s debt crisis escalates.<br /><br />EUR/USD hit 1.4128 during U.S. morning trade, the pair&rsquo;s lowest since July 19; the pair subsequently consolidated at 1.4157, dropping 1.14%.<br /><br />The pair was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Look At The Charts

Posted: 04 Aug 2011 07:01 AM PDT

The daily chart targets the 1.4103 level (61.8% of the move up from the July low.  ON the 5 minute chart the price fell below channel support for the second time at 1.4148.  Stay below this level and bearish bias continues. Move above back into the channel and should see some profit taking, with 1.4206 a target.  The price needs to stay in the channel however and not break back below the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bank Of Japan Intervention Leaves Trail Of Blood And Gore

Posted: 04 Aug 2011 06:53 AM PDT

The Bank of Japan cut short its planned two-day meeting and went straight for the currency market's jugular, sinking its teeth deep in to the artery and achieving the maximum blood-loss from its victims. The unilateral nature of its intervention was precisely what the authorities had hinted at the day before. Market participants were clearly distracted by the blood still flowing dangerously from other open wounds as growth stalls around the world adding to fears that the death-spiral facing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Jumps To 3-week High After BoJ Move

Posted: 04 Aug 2011 06:53 AM PDT

Forexpros – The U.S. dollar was up for a fifth day against its Canadian counterpart on Thursday, jumping to a three-week high after Japan intervened to weaken the yen, while ongoing concerns over the global economic outlook curbed demand for growth-linked currencies.<br /><br />USD/CAD hit 0.9745 during U.S. morning trade, the pair&rsquo;s highest since July 12; the pair subsequently consolidated at 0.9705, gaining 0.87%.<br /><br />The pair was likely to find … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/CHF Remains Lower After Trichet Press Conference

Posted: 04 Aug 2011 06:27 AM PDT

Forexpros – The euro remained lower against the Swiss franc on Thursday, after European Central Bank President Jean-Claude Trichet said the bank will extend exiting liquidity measures for six months as the debt crisis in the single currency bloc deepens.<br /><br />EUR/CHF hit 1.0983 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.0988, shedding 0.40%.<br /><br />The pair was likely to find support at 1.0792, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 04 Aug 2011 01:15 AM PDT

08/04/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the ringing of the NYSE opening bell including interest rate decisions and a Kraft Foods … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Investec Confirms Early Approach For Evolution

Posted: 04 Aug 2011 02:38 AM PDT

South African banking group Investec (LON:INVP) said this morning that it had made a preliminary approach over a potential share offer for smaller rival Evolution (LON:EVG). The news comes a day after Evolution confirmed that it had received an approach. Shares in the mid-market investment banking and private client investment management group gained 1 percent to leave them trading at 80.5p.

Investec said its approach was made subject to a number of pre-conditions including, obtaining a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Petroneft Resources Confirms Largest Oil Field Discovery On Russian Licence

Posted: 04 Aug 2011 02:10 AM PDT

Petroneft (LON:PTR), the AIM listed oil and gas exploration and production company that owns and operates Licences 61 and 67 in the Tomsk Oblast region of the Russian Federation, has announced its largest single discovery to date with a new oil field at Sibkrayevskaya on Licence 61. The news drove up the value of shares in Petroneft by nearly 17 percent to 38p.

The company's latest exploration well, Sibkrayevskaya No. 372, was spudded in early July in the north-east corner of Licence 61. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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