Friday, August 12, 2011

DailyMarkets.com - Its Europe And Not The US Of A

DailyMarkets.com - Its Europe And Not The US Of A

Its Europe And Not The US Of A

Posted: 12 Aug 2011 05:04 PM PDT

The blog called Calafia Beach Pundit is a bullish on the US blog, which is great for a different point of view. The blog is run by Scott Grannis a former Chief Economist from 1979-2007 at Western Asset Management. He makes good points when the news seams so bleak.

His works suggest to us why we will get a stock market bounce, a recession is not clear yet. August and September should hold up. The data will decide. Maybe thats why October always stinks

Extracts..

The recent collapse in stock … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nouriel Roubini The USA Economy Is At Stall Speed

Posted: 12 Aug 2011 04:43 PM PDT

Economist Nouriel Roubini says the economy is at stall speed and the next two to three months will reveal the economy's direction, the economy cant stay at stall speed, either it will go up or down. In an interview with WSJ's Simon Constable, Roubini also says he's putting his money in cash. "This is not the time to be in risky assets," he says.

Important the reader must review this interview for comparison: Felix Zulauf interview.

Roubini Points
- There will be more QEs 3,4,5 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Expanding Ranks Of Realists

Posted: 12 Aug 2011 04:01 PM PDT

While today’s focus was on “unexpectedly” weak data detailing the rapidly souring mood of the American consumer –
“Economic Slowdown Expected by Consumers” (Thomson Reuters/University of Michigan)
Consumer confidence tumbled in July to its lowest level since early 2009 when the economy was still in recession. Prospects for economic growth were much more negative, and the unemployment rate was ex-pected to rise twice as frequently as decline. Personal fi-nancial expectations slipped … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dillard’s Beats Estimates

Posted: 12 Aug 2011 03:20 PM PDT

Dillard’s Inc. (NYSE:DDS), a leading fashion apparel, cosmetics and home furnishings retailer, posted strong second-quarter 2011 earnings of 30 cents per share, outpacing the Zacks Consensus Estimate of 19 cents per share and prior-year quarter earnings of 3 cents per share.
On a reported basis, including one-time items, Dillard’s reported earnings were 32 cents per share compared with the prior-year quarter’s earnings of 10 cents per share. The quarterly earnings topped estimates on the back of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Delta, Aeromexico In Long-term Deal

Posted: 12 Aug 2011 03:20 PM PDT

The second largest U.S. airline Delta Air Lines Inc. (NYSE:DAL) formed a long-term alliance with the largest Mexican airline, Grupo Aeromexico.
Under the terms of the deal, Delta will invest $65 million in Aeromexico. In exchange, Delta will receive some shares of Aeromexico and will become a member of its board. The transaction is waiting approval from Mexican regulators.
The transaction will solidify network expansion of both companies between U.S. and Mexico amidst weak demand, uncertain … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Newmont Starts Exploration Project

Posted: 12 Aug 2011 03:20 PM PDT

Newmont Nusa Tenggara, a unit of U.S. miner Newmont Mining Corp. (NYSE:NEM)  in Indonesia will start exploration work on a new gold and copper block in Sumbawa, West Nusa Tenggara. The company expects drilling to commence in September 2011.
The exploration area is within the 87,000 hectares of forest land granted to the company by the Indonesian government in 1986.
Recently the company released its financial results for the second quarter of 2011. The adjusted net income rose to $445 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Retailers Take Their Turn

Posted: 12 Aug 2011 03:01 PM PDT

Earnings Preview 8/12/11
The second quarter earnings season is almost over. Mostly we are down to the retailers, many of which have fiscal quarters ending in July, not June, but there are a few significant non-retailers that will report this week as well. There will be just 187 firms reporting, but 26 of those are in the S&P 500.

By next Friday afternoon, almost 95% of the S&P 500 will have reported. So far, earnings season has been very strong with seven S&P 500 firms reporting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cisco Tops, Concerns Remain

Posted: 12 Aug 2011 03:01 PM PDT

Cisco Systems' (NASDAQ:CSCO) fourth quarter 2011 earnings (excluding one-time items and including stock based compensation) beat the Zacks Consensus estimate by 3 cents, or 9.4%. Revenue exceeded the consensus by 2.0%.
Revenue
Revenue of $11.20 billion was up 3.0% sequentially and 3.3% year over year, better than management's expectations of a 0-2% year-over-year increase.
Products, which generated 80% of revenue, grew 2.9% sequentially and 1.3% year over year. Services accounted for the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Weak 2Q For GOL

Posted: 12 Aug 2011 03:01 PM PDT

GOL Linhas A (NYSE:GOL) reported financial results for the second quarter of fiscal 2011 on August 11, 2011. Net loss in the quarter was recorded at R$358.7 million (US$225.6 million) compared with a loss of R$51.9 million (US$29.2 million) in the year-ago quarter.
The loss was primarily attributable to a 2.3% decline in passenger revenue on the backdrop of a competitive Brazilian air traffic market, worsened by rising fuel prices.
GOL Linhas reported loss per share of R$1.33 (US$0.84 per ADS) in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Valspar

Posted: 12 Aug 2011 03:01 PM PDT

The Valspar Corporation (NYSE:VAL) announced that it would release its results for the third quarter of 2011 before the market opens on August 15, 2011.
Valspar reported net earnings of 64 cents in the second quarter of 2011 versus last year's 61 cents, which were in line with the Zacks Consensus Estimate. In the upcoming quarter, the Zacks Consensus Estimate for Valspar is pegged at a profit of 80 cents per share, reflecting annualized growth of 14.71%.
With respect to earnings surprises, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: HCP

Posted: 12 Aug 2011 03:01 PM PDT

HCP, Inc. (NYSE:HCP) reported second quarter 2011 FFO (funds from operations) of $317.9 million or 78 cents per share as opposed to $161.8 million or 55 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.
Excluding non-recurring items, FFO in the reported quarter was $312.2 million or 77 cents per share compared with $161.8 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Unisys Donwgraded To Underperform

Posted: 12 Aug 2011 03:01 PM PDT

We recently downgraded our recommendation to Underperform from Neutral on Unisys Corporation (NYSE:UIS).
Unisys recently reported weak results for the second quarter of 2011. The second quarter results were impacted by the continued weakness in the U.S. Federal business and lower ClearPath sales. In particular, revenues continue to decline primarily due to the end of a Transportation Security Administration (TSA) contract effective November 30 and the impact of the U.S. federal government budget … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral Retained On Zumiez

Posted: 12 Aug 2011 02:35 PM PDT

We maintain our long-term Neutral recommendation on Zumiez Inc. (NASDAQ:ZUMZ). Zumiez is a mall-based specialty retailer of action-sports related apparel, footwear, equipment, and accessories. Zumiez's strategy is based on offering action-sports merchandise focused on young men and women in the age of group of 12 to 24 years, which has enabled the company to carve a distinct niche for itself.
Furthermore, the company's stores are strategically located in busy areas of the mall, such as food … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cousins Properties Reports In Line

Posted: 12 Aug 2011 02:35 PM PDT

Cousins Properties Inc. (NYSE:CUZ), a real estate investment trust (REIT), reported second quarter 2011 FFO (fund from operations) of $10.9 million or 11 cents per share, compared with $7.9 million or 8 cents in the year-earlier quarter.
Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation, amortization and other non-cash expenses to net income.
The reported FFO was in line with the Zacks Consensus Estimate. Total revenues were $45.4 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sunoco Logistics Upgraded

Posted: 12 Aug 2011 02:35 PM PDT

Buoyed by a robust operating performance and favorable growth prospects, we are upgrading crude oil pipelines and terminals operator Sunoco Logistics Partners L.P. (NYSE:SXL) to Outperform from Neutral.
Philadelphia-based Sunoco Logistics, a master limited partnership (MLP), acquires, owns, and operates a geographically diverse portfolio of refined product and crude oil pipelines and terminal facilities. Its facilities are located in 17 states in the Northeast, the Midwest, the Southeast and the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Home Loans Call For Legal Safety

Posted: 12 Aug 2011 02:35 PM PDT

In recent quarters, U.S. banks are struggling with legal issues related to mortgage-backed securities issued during the financial crisis. Consequently, the Securities and Exchange Commission (SEC) and other U.S. regulators are proactively trying to recover losses through lawsuits against banks that were involved in malpractices related to selling mortgage-backed securities.
As a safety measure, the Consumer Financial Protection Bureau (CFPB) is working on a proposal to persuade banks to offer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ANADIGICS Reports Weak

Posted: 12 Aug 2011 02:35 PM PDT

ANADIGICS (NASDAQ:ANAD) reported net sales of $35.6 million in the second quarter of 2011, down 18.1% sequentially and down 31.1% from a year ago. The results were in-line with management's guidance and the Zacks Consensus Estimate of $36 million.
The sequential decline in the second quarter was primarily due to a decrease in shipments to one of the largest North American customers – Research In Motion (NASDAQ:RIMM).
Coming to revenue mix, wireless revenues accounted for 72% of total revenue while … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Macy’s Retains Neutral Rec

Posted: 12 Aug 2011 02:35 PM PDT

Macy's Inc.'s (NYSE:M) constant focus on price optimization, inventory management, merchandise planning and private label offering positions it to drive traffic, meet customer-oriented demand and improve in-store shopping experience.
We remain optimistic about the company's customer-centric localization initiative called 'My Macy's.' The program aims at improving comparable-store sales and reducing operating expenses, with stores and merchandise assortments focusing on local customer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CytRx Reports 2Q 2011 Results

Posted: 12 Aug 2011 02:35 PM PDT

Grant Zeng, CFA
CytRx Reports Second Quarter 2011 Financial Results

On August 9, CytRx (NASDAQ:CYTR) reported second quarter 2011 financial results.

Licensing revenue was $150,000 for the second quarter of 2011 and the Company did not report revenue for the second quarter of 2010.

Research and development (R&D) expenses were $1.9 million for the second quarter of 2011 and included development expenses for the Company's programs of $0.9 million for INNO-206, $0.1 million for bafetinib and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CEO Spotlight: Ki Nam, T3 Motion

Posted: 12 Aug 2011 02:30 PM PDT

08/12/2011 T3 Motion’s CEO and founder, Ki Nam, showcases the T3 and R3 vehicles at the NYSE. The producer of clean technology electric vehicles recently reported its Q2 2011 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Central Reserve Bank Of Peru Holds Rate At 4.25%

Posted: 12 Aug 2011 02:20 PM PDT

The Central Reserve Bank of Peru maintained its monetary policy reference rate unchanged at 4.25%.  The Bank commented in its statement: “This decision takes into account the slowdown observed in global economic activity.  Future adjustments in the reference rate will depend on new information on the evolution of inflation and its determinants.”  The Bank also said: “Some current and advanced indicators of activity show lower growth than in previous months. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

SABESP Revives, Beats In 2Q

Posted: 12 Aug 2011 02:10 PM PDT

Sao Paulo, Brazil-based Companhia de Saneamento Basico do Estado de Sao Paulo, or SABESP's (NYSE:SBS) net income for the second quarter 2011 improved 50.1% year over year and more than doubled sequentially to R$479.6 million (US$301.6 million), or R$2.11 per share (US$2.65 per ADR). Earnings per ADR also surpassed the Zacks Consensus Estimate of US$1.91 per ADR by a wide margin.
SABESP's impressive earnings performance was due primarily to lower operating and financial expenses in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Microchip Tech

Posted: 12 Aug 2011 02:10 PM PDT

Microchip Technology Incorporated (NASDAQ:MCHP) reported earnings of 49 cents in the first quarter of fiscal 2012, missing the Zacks Consensus Estimate by a penny.
The company noted that the results were disappointing due to weak global economic conditions, resulting in soft demand and bookings across market segments and customers.
First Quarter Earnings Highlights
Revenues for the quarter came in at $374.5 million, up 4.9% year over year but down 1.4% sequentially. The results were in line with the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Macy’s R

Posted: 12 Aug 2011 02:10 PM PDT

Macy's Inc.'s (NYSE:M) constant focus on price optimization, inventory management, merchandise planning and private label offering positions it to drive traffic, meet customer-oriented demand and improve in-store shopping experience.
We remain optimistic about the company's customer-centric localization initiative called 'My Macy's.' The program aims at improving comparable-store sales and reducing operating expenses, with stores and merchandise assortments focusing on local customer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 12 Aug 2011 02:10 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> EUR/USD was trading at 1.4248, up 0.06% at time of writing.<br/><br/> The pair was likely to find support at 1.4105, Thursday&rsquo;s low, and resistance at 1.4401, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Up At The End Of U.S. Session

Posted: 12 Aug 2011 02:05 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> GBP/USD was trading at 1.6282, up 0.27% at time of writing.<br/><br/> The pair was likely to find support at 1.6112, Thursday&rsquo;s low, and resistance at 1.6471, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Retailers Take Their Turn

Posted: 12 Aug 2011 02:02 PM PDT

Earnings Preview 8/12/11
The second quarter earnings season is almost over. Mostly we are down to the retailers, many of which have fiscal quarters ending in July, not June, but there are a few significant non-retailers that will report this week as well. There will be just 187 firms reporting, but 26 of those are in the S&P 500.

By next Friday afternoon, almost 95% of the S&P 500 will have reported. So far, earnings season has been very strong with seven S&P 500 firms reporting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forest Labs Files Linaclotide NDA

Posted: 12 Aug 2011 02:02 PM PDT

Forest Laboratories, Inc. (NYSE:FRX) and partner Ironwood Pharmaceuticals, Inc. (IRWD) recently announced that they have submitted a New Drug Application (NDA) to the US Food and Drug Administration (FDA) for linaclotide. The companies are seeking approval for the use of linaclotide for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic constipation (CC).
The NDA includes efficacy and safety data from a phase III program which included four double-blind … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Veolia EPS Lags, Revs Rise

Posted: 12 Aug 2011 02:02 PM PDT

Veolia Environnement (NYSE:VE) announced financial results for the first half of 2011. The company reported an operating loss per share of €1.05 in the first half of 2011 versus operating earnings of €0.67 in the first half of 2010.
On a GAAP basis, operating loss during the first half of the year was €0.14 versus earnings of €0.78 in the first half of 2010. The difference between GAAP and operating loss was due to a one-time gain of €0.91 from discontinued operations.
Total Revenue
In … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ProAssurance Down To Neutral

Posted: 12 Aug 2011 02:02 PM PDT

We downgraded our recommendation on ProAssurance Corp. (NYSE:PRA) to Neutral based on the ongoing weak macro cues that have been reducing investment portfolio and cash flow. Moreover, though the company has been expanding through acquisitions, risk of integration continues to hover in the upcoming quarters.
ProAssurance's reported its second-quarter operating earnings of $53.7 million or $1.74 per share, which comfortably surpassed the Zacks Consensus Estimate of $1.26. This also compared … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Schwab Upgraded To Neutral

Posted: 12 Aug 2011 02:02 PM PDT

We are upgrading our recommendation on Charles Schwab Corp. (NASDAQ:SCHW) to Neutral from Underperform based on better results compared to the prior-year quarter and an improvement in client assets.
Charles Schwab's second quarter 2011 earnings came in at 20 cents per share, in line with the Zacks Consensus Estimate. However, this compared favorably with the year-ago earnings of 17 cents.
Results were aided by improved net interest revenue and lower impairment losses on securities. Improved … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Moves From American Superconductor

Posted: 12 Aug 2011 02:02 PM PDT

Global power technologies company, American Superconductor Corporation (NASDAQ:AMSC) announced steps to put its house in order. The moves were precipitated after its revenues were impacted due to business and contractual issues with its largest customer in China — Sinovel Wind Group Co. Ltd. Sinovel also was unable to pay for past shipments worth $56 million.
Earlier, American Superconductor's revenue growth largely depended on its customer Sinovel, China’s largest and the world’s third largest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Closing Bell Market Monitor: T, DDS

Posted: 12 Aug 2011 02:00 PM PDT

08/12/11 The latest in news, commentary, and information on what’s moved the US equities markets just after the NYSE closing bell including: a 125 point Dowraly and impoved retail sales … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 12 Aug 2011 02:00 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.<br/><br/> USD/JPY was trading at 76.69, down 0.20% at time of writing.<br/><br/> The pair was likely to find support at 76.31, Thursday&rsquo;s low, and resistance at 78.34, Monday&rsquo;s high.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Belarus Central Bank Hikes Rate 200bps To 22.00%

Posted: 12 Aug 2011 01:58 PM PDT

The National Bank of the Republic of Belarus raised its refinancing rate by 200 basis points to 22.00% from 20.00% previously.  The Nacionalny Bank Respubliki Belarus said: ”Along with general economic measures undertaken by the government, this tightening will help stabilize the external economic situation and limit inflation,”.  The Bank also commented that “as positive trends in the economy and financial markets develop, the Natsionalnyi Bank will return to its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AIG Dropped To Underperform

Posted: 12 Aug 2011 01:25 PM PDT

We downgraded our recommendation on American International Group Inc. (NYSE:AIG) to Underperform from Neutral based on the critical sustainability factor given the weak global cues, sluggish insurance dynamics and consistent cash outflow.
Despite raising funds in the past few quarters and repaying a chunk of its debt, AIG is yet to attain capital flexibility. The inability to generate cash flow from operations and a dangling capital position has been severely weighing on the share prices that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Using Value-Added Trade Estimates, We Have A $32.65 Trade Surplus With China For 2011

Posted: 12 Aug 2011 01:14 PM PDT

According to research at the San Francisco Federal Reserve, 36% of the value of imported goods goes to U.S. companies and workers, and for Chinese imports it’s much higher: the U.S. content of "Made in China" is close to 55%.  Reason? The SF Fed explains:

“The fact that the U.S. content of Chinese goods is much higher than for imports as a whole is mainly due to higher retail and wholesale margins on consumer electronics and clothing than on most other goods and services.” 

The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Markets Close Higher; Dow Jones Up 1.13%

Posted: 12 Aug 2011 01:10 PM PDT

Forexpros – U.S. stocks were up after the closing bell on Friday.<br/><br/> At the close of U.S. trade, the Dow Jones Industrial Average rose 1.13%, the S&P 500 index gained 0.53%, while the Nasdaq 100 index climbed 0.65%.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a seasonally adjusted 54.9 last month from 63.7 in the preceding month.<br/><br/>Analysts had expected UoM consumer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GM Plans Comeback In Indonesia

Posted: 12 Aug 2011 01:05 PM PDT

General Motors Company (NYSE:GM) plans to establish its base in Indonesia after quitting the market in mid-2000s, when it closed a small assembly plant near Jakarta. The Detroit-based automaker intends to make up for the sluggish sales in other markets, including the U.S. and Europe, by opening a manufacturing base as well as an export hub in the country near Jakarta that could produce about 50,000 vehicles annually.
The plant would manufacture cheap cars for export to other Southeast Asian … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Magna Expands In China

Posted: 12 Aug 2011 01:05 PM PDT

Magna International Inc. (NYSE:MGA) revealed that its exterior and interior systems unit has expanded in China by forming a joint venture, MCC Wuhu Exteriors, to purchase an existing 300,000-square-foot injection molding and painting facility in Wuhu, located in the Anhui province of southeastern China.
The joint venture is controlled by Magna Exteriors and Interiors (51%), Changshu Automotive Trim Co. (34%) and Chery Tech (15%).
The Wuhu plant generated revenues of approximately $43 million in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Encouraging Data On Daclizumab

Posted: 12 Aug 2011 01:05 PM PDT

Biogen Idec (NASDAQ:BIIB) and Abbott Labs (NYSE:ABT) recently presented positive top-line data on their multiple sclerosis candidate, daclizumab. Biogen and Abbott Labs presented data from a phase IIb study – SELECT.
The global, randomized, double-blind, placebo-controlled, one-year, dose-ranging study was conducted to evaluate the safety and efficacy of daclizumab in 600 patients with relapsing-remitting multiple sclerosis (RRMS).
Two doses (150 mg or 300 mg every four weeks) of daclizumab were … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Fade In Afternoon U.S. Trade

Posted: 12 Aug 2011 12:40 PM PDT

Forexpros – Gold futures extended losses in U.S. trade Friday, as investors jumped from gold to equities markets in order to capitalize on gains on Wall Street and European stock exchanges. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,741.15 a troy ounce during U.S. afternoon trade, falling 0.98%.<br /><br />Gold futures had risen as much as USD150 this week, hitting a record USD1,813.79 early … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Broadridge Outperforms Again

Posted: 12 Aug 2011 12:35 PM PDT

Broadridge Financial Solutions Inc.'s (NYSE:BR) fourth-quarter fiscal 2011 adjusted earnings per share of 94 cents beat the Zacks Consensus Estimate of 91 cents and improved from 84 cents earned in the prior-year quarter. Higher recurring revenue prompted the outperformance, partially offset by higher operating expenses and tax rate.
Revenues
Total revenue in the fourth quarter was $776.1 million, up 3.4% from $750.5 million in the year-ago quarter and ahead of the Zacks Consensus Estimate of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EA’s Star-Studded Cover For FIFA12

Posted: 12 Aug 2011 12:05 PM PDT

Video game developer and publisher, Electronic Arts Inc. (ERTS), better known as EA, announced that EA Sports' latest soccer game FIFA Soccer 12 will hit retail stores on September 27, 2011.
EA also announced that the U.S. soccer star Landon Donovan will be gracing the front cover of FIFA Soccer 12 along with Mexican counterpart Rafael Márquez. Also, England and Manchester United's popular striker Wayne Rooney will share the space on the cover along with the two American soccer stars.
Star … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pantech Opts For DTS Inc.’s Audio

Posted: 12 Aug 2011 12:05 PM PDT

DTS Inc. (NASDAQ:DTSI) announced that its audio technology has been selected by Pantech for its Vega range of tablet phones and smartphones.  
The products include Pantech's Vega No. 5 tablet phone (model IM-T100K) and Vega Racer smartphone (models IM-A760S, IM-A770K and IM-A780L). The Vega No. 5 tablet phone is the first of its kind to integrate DTS Inc.'s high-performance technology, which will enable customers to enjoy an enhanced and superior sound quality in mobile devices.
The Vega … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Citi Increases Asian Headcount

Posted: 12 Aug 2011 12:05 PM PDT

Citigroup Inc. (NYSE:C) is boosting its Asian Prime Finance division by increasing the headcount 20% to 80, according to a Reuters report. The hiring comes as part of the company's effort to take advantage of the boom in the hedge fund industry in the region. Citi is expanding its capital introduction, OTC, client service as well as futures squads as part of this effort.
Citi's Prime Finance is a comprehensive, integrated business unit comprising prime brokerage, financing solutions and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Eases In U.S. Afternoon Trade

Posted: 12 Aug 2011 11:47 AM PDT

Forexpros – The Japanese yen advanced against the U.S. dollar Friday, erasing earlier gains by the greenback on the strength of better-than-expected retail sales.<br /><br />In early Asian trade USD/JPY hit 77.02, the pair&rsquo;s highest since Thursday;&nbsp; the pair subsequently consolidated at 76.75, falling 0.11%. &nbsp;<br /><br />The pair was likely to find support at 76.31, Thursday&rsquo;s low, and resistance at 78.34, Monday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Food Truck Revolution Comes To Calgary

Posted: 12 Aug 2011 11:38 AM PDT

From the Calgary Herald article “Food Trucks Feed a Frenzy as Calgary Starts Pilot Project”:

“The appetite for the new food trucks hitting Calgary streets is strong, as hundreds of people converged on Stephen Avenue to get a taste of what's to come. Those who came out said they were pleased the food truck revolution has finally arrived in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Scorecard: Intuitive

Posted: 12 Aug 2011 11:35 AM PDT

Intuitive Surgical (NASDAQ:ISRG) reported favorable second-quarter 2011 results. Earnings per share came in at $2.91, beating the Zacks Consensus Estimate of $2.71 and the year-ago figure of $2.19.
Second Quarter Review
Revenues increased 21% year over year to $426 million, beating the Zacks Consensus Estimate by $411 million.
Instruments and accessories revenues were $172 million in the quarter, up 35% year over year. Worldwide procedures increased 30%. The company posted total systems revenue of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Setback For Liberty Global

Posted: 12 Aug 2011 11:35 AM PDT

Liberty Global Inc. (NASDAQ:LBTYA), a leading cable operator in Europe, Latin America, and Australia, continues to suffer setback regarding its ongoing business restructuring strategy. During the last couple of years, Liberty Global was reorganizing its operations through acquisitions of new businesses and disinvestments of its existing set ups. However, things turned out to be little difficult in the last two months.
In March 2011, the company won the auction to purchase Kabel Baden Wuerttemberg … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Investors Flee To Precious Metals And Miners

Posted: 12 Aug 2011 11:27 AM PDT

My firm is witnessing the resumption of the long term uptrend in gold and silver bullion, as well as precious metal mining stocks. Along the way there have been many negative voices suggesting a move into the US dollar and long term treasuries. We see no underlying fundamental reasons for this and find that the safe havens of yesteryear are falling by the wayside. I've written that investors are preparing for further accommodative moves by the Federal Reserve … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Put-selling Taunt For Microsoft Bears

Posted: 12 Aug 2011 11:15 AM PDT

A put-selling taunt for Microsoft bears
Today's tickers: MSFT, ALL & INTU
(NASDAQ:MSFT) – Microsoft Corp. – The June low for shares in computer-maker Microsoft at $23.65 remains the low-water mark despite a 14.6% slump over the last two weeks. The selling pressure stopped on Tuesday with buyers gathering at $24.03 to support the stock. Over the remainder of the week its shares have added a further $1.25 to trade at $25.28. So while the broad market suffered a far worse fate, Microsoft bulls … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Put-selling Taunt For Microsoft Bears

Posted: 12 Aug 2011 11:14 AM PDT

A put-selling taunt for Microsoft bears
Today's tickers: MSFT, ALL & INTU
(NASDAQ:MSFT) – Microsoft Corp. – The June low for shares in computer-maker Microsoft at $23.65 remains the low-water mark despite a 14.6% slump over the last two weeks. The selling pressure stopped on Tuesday with buyers gathering at $24.03 to support the stock. Over the remainder of the week its shares have added a further $1.25 to trade at $25.28. So while the broad market suffered a far worse fate, Microsoft bulls … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Gain In U.S. Afternoon Trade

Posted: 12 Aug 2011 11:07 AM PDT

Forexpros – Crude oil futures gain in U.S. afternoon trade<br /><br />Forexpros – Crude oil futures reversed a two-day losing streak to gain in U.S. trade Friday, aided by a promising retail sales figures and expectations of growing demand from the world&rsquo;s largest energy consumer. <br /><br />On the New York Mercantile Exchange light, sweet crude futures for September delivery traded at USD86.42, gaining 1%, after hitting a daily low of USD84.03.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Getting Paid By Gov’t. For NOT Flying Passengers

Posted: 12 Aug 2011 10:57 AM PDT

We’re all familiar with various government agricultural policies over the years that have paid farmers not to farm, with the goal being to reduce the supply of crops like corn and soybeans and thereby support higher commodity farm prices.  According to a 2006 Washington Post article, 

“Nationwide, the federal government has paid at least $1.3 billion in subsidies for rice and other crops from 2000- 2006 to individuals who do no farming at all.”  

For some great humor, see … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BP Remains Evenly Poised

Posted: 12 Aug 2011 10:55 AM PDT

We are maintaining our long-term Neutral rating on one of the world’s largest energy companies, BP Plc (NYSE:BP). Although the company missed our expectation in the second quarter of 2011, its string of upstream activities keeps us upbeat on its ability to regain its old form.
Last quarter, BP reported lower-than-expected second-quarter 2011 earnings mainly due to lower production volumes (including the impact of divestments) and higher costs (including rig standby costs in the Gulf of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Medivation Reports Wider Loss

Posted: 12 Aug 2011 10:55 AM PDT

Medivation Inc. (NASDAQ:MDVN) reported a loss of 27 cents per share in the second quarter of 2011, a penny wider than the Zacks Consensus loss Estimate of 26 cents and well above the year-ago loss of 21 cents.
Higher expenses led to the wider loss. Revenues for the quarter were $15.8 million, in-line with the Zacks Consensus Estimate and flat from the year-ago period.
The Quarter in Detail
Revenues consisted of partial recognition of the non-refundable upfront payment of $225 million received from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Reports Of The Consumer’s Death Are Greatly Exaggerated

Posted: 12 Aug 2011 10:55 AM PDT

Retail and Food Service Sales were up 0.5% in July, in line with expectations. June was revised up from an increase of 0.1% to an increase of 0.3%. Total retail sales are up 8.5% from a year ago. In other words, reports of the consumer’s death have been greatly exaggerated.

The Retail Sales report covers far more than just the shopping malls, and is a very broad-based measure of consumer spending. Since consumer spending makes up 70% of the economy it is a very important number. That … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Statoil Wins Gullfaks Drilling Nod

Posted: 12 Aug 2011 10:55 AM PDT

Statoil ASA (NYSE:STO) was granted approval to use the Deepsea Atlantic mobile facility for production drilling on Gullfaks. The permission is mainly for the drilling and completion of three wells (34/10 F-3 AH, 34/10 F-1 H and 34/10 G-4) in production licence 050.
The Norway-based major international integrated oil and gas company expects September 10 to be the start-up date for drilling operations – beginning with 34/10 F-3 AH – that would extend to approximately 385 days.
The Greater … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brinker Beats Both Estimates

Posted: 12 Aug 2011 10:55 AM PDT

Brinker International Inc. (NYSE:EAT) has recently reported fourth quarter 2011 adjusted earnings per share of 48 cents, surpassing the Zacks Consensus Estimate by a penny. Earnings were also above 44 cents reported in the prior-year quarter.
On a GAAP basis, the owner of Chili's Grill & Bar and Maggiano’s Little Italy has reported fourth quarter earnings of 49 cents per share versus 42 cents posted in the year-ago quarter.
In fiscal 2011, adjusted and GAAP earnings in the quarter were 1.52 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Stocks Climb In Mid-day Trade; Dow Up 1.2%

Posted: 12 Aug 2011 10:34 AM PDT

Forexpros – Wall Street shares advanced in early afternoon trade Friday, recouping losses following disappointing consumer confidence numbers but encouraged by a rise in U.S. retail sales.<br /><br />In mid-day U.S. trade, the Dow Jones Industrial Average rose 1.2% to 11,271.44,&nbsp; the Nasdaq Composite Index added 0.78% to 2,512.16, and the S%P 500 advanced 0.81% to 1,182.10.<br /><br />Earlier Friday, the Census Bureau announced that U.S. core retail sales rose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

J.C. Penney Beats By A Penny

Posted: 12 Aug 2011 10:25 AM PDT

J.C. Penney Company Inc. (NYSE:JCP) recently delivered second-quarter 2011 earnings of 7 cents a share that came a penny ahead of the Zacks Consensus Estimate as well as the prior-year quarter's earnings.
Strong performance of women’s apparel and accessories and fine jewelry boosted the quarterly results, with the Southwest region contributing the highest revenue.
Behind the Headline
The quarterly sales of $3,906 million fell short of the Zacks Consensus Estimate of $3,928 million, and inched … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Atmel Reports In Line

Posted: 12 Aug 2011 10:25 AM PDT

Atmel Corporation (NASDAQ:ATML) reported revenues of $487.6 million in the second quarter of 2011, up 22% year over year and up 4% sequentially and at the high end of the company's guidance. Excluding the impact of the divestiture of the Smart Card business, revenues grew 31% year over year.
Adjusting for the Smart Card divestiture completed at the end of the third quarter of 2010, second quarter 2011 revenues increased 31% from the second quarter of the prior year.
Microcontrollers business … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ACE Limited Authorizes Buyback

Posted: 12 Aug 2011 10:25 AM PDT

The property and casualty (P&C) insurance and reinsurance provider ACE Limited (NYSE:ACE) announced that its board of directors has authorized an aggregate buyback of $500 million of common stock, including the previous authorization. The company will have to repurchase the shares within December 31, 2012, as per the new authorization.
Earlier, in November 2010, the board of directors authorized a buyback of $600 million of common stock and out of which the company has utilized $400 million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Today…seems A Little Too Quiet”

Posted: 12 Aug 2011 10:15 AM PDT

08/12/11 OnPoint Executions’ Bobby Heller discusses this week’s wild swings in US stocks and the latest fundamental … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Rise Continues On Equity Bounce, Improved Retail Sales Data

Posted: 12 Aug 2011 10:00 AM PDT

08/12/11 The euro currency continued to post slight gains this afternoon following an improvement in global equities and a ban on short selling in some eurozone … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Higher; Dax Up 3.45%

Posted: 12 Aug 2011 09:55 AM PDT

Forexpros – European stocks were up after the closing bell on Friday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX rose 3.45%, London&rsquo;s FTSE 100 gained 3.04%, France&rsquo;s CAC 40 climbed 4.02% and the EURO STOXX 50 was up 4.15%.<br/><br/> Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment fell more-than-expected to a seasonally adjusted 54.9 last month from 63.7 in the preceding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Rises In Early U.S. Trade

Posted: 12 Aug 2011 09:35 AM PDT

Forexpros – The euro regained ground against the U.S. dollar Friday, as Wall Street reacted positively to encouraging retail sales numbers but overall market sentiment dimmed on data showing a sharp drop in U.S. consumer sentiment.<br /><br />EUR/USD hit 1.4292 during early U.S. trade, the pair&rsquo;s highest since August 9; the pair subsequently consolidated at 1.4243, adding 0.02%.<br /><br />The pair was likely to find support at 1.4105, Thursday&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chart Of The Week – Which Luxury Brands Do Best In China?

Posted: 11 Aug 2011 10:00 PM PDT

Inflationary expectations and a global economic slowdown haven't been able to extinguish consumption of goods in China. The retail sector is expected to grow up to 35 percent in 2011 with sales roughly 18 percent higher than a year ago, according to a CEBM China Research.
Chinese consumerism first began in the 1990s as the seeds of a middle class began to grow in the country's largest cities. Today, this middle class is roughly 150 million strong and growing.
More importantly, CEBM reports … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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