Tuesday, August 30, 2011

DailyMarkets.com - Japan Still Battles Weak Production

DailyMarkets.com - Japan Still Battles Weak Production

Japan Still Battles Weak Production

Posted: 30 Aug 2011 11:25 AM PDT

Automakers in Japan saw weak production and sales in July on the back of strong yen, unstable global economy and parts-supply problem due to the earthquake and tsunami in Japan on March 11.
Global production at Toyota Motor Corp. (NYSE:TM) dipped 6.1% on a year-over-year basis to 594,614 vehicles during the month while its domestic sales of passenger cars, trucks and buses slashed 35% and exports slid 5% due to lower shipments to North America.
However, Toyota plans to ramp up production in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral View On Incyte

Posted: 30 Aug 2011 11:25 AM PDT

We are maintaining our Neutral recommendation on Incyte Corporation (NASDAQ:INCY) with a target price of $15.00.
Incyte is a Wilmington, Delaware-based drug discovery and development company focused on oral compounds to treat inflammation and cancer. The company’s lead compound is INCB18424, an oral janus-associated kinase (JAK) antagonist.
INCB18424 is currently under priority review in the US for treating patients suffering from myelofibrosis (MF), a rare bone marrow disorder, with a decision … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Waiting To Exhale

Posted: 30 Aug 2011 11:18 AM PDT

Cusick’s Corner
My sentiment has not changed much since the After Hours yesterday. The sideline money is still very nervous, missing the boat as they say and it was noticeable that this group was nibbling on the “Risk” trade all day. So I am not fading this move and will still be looking at strategies that take advantage of high volatility and a bullish sentiment, i.e. the bull put spread. The market does have a greater sense of normalcy so volatility could naturally start to exhale out of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Up In U.S. Trade

Posted: 30 Aug 2011 11:15 AM PDT

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on CB Consumer Confidence.

AUD/USD was trading at 1.0700, up 0.41% at time of writing.

The pair was likely to find support at 1.0418, Thursday's low, and resistance at 1.0700, today's high.

Earlier in the day, data showed that CB consumer confidence in the U.S. fell more-than-expected to a seasonally adjusted 44.5 last month from 59.2 in the preceding month whose figure was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Analyst Interviews: Aerospace & Defense Stock Overview

Posted: 30 Aug 2011 11:05 AM PDT

The growth of the Aerospace and Defense industry depends largely on the spending outlook of government departments, with the U.S. defense budget being the primary driver. The U.S. is the world's largest aerospace and defense market, and also home to the world's largest military budget.

In 2010, the total global defense expenditure of $1.6 trillion grew 1.3% from 2009 levels in real terms. The majority of this growth came from the U.S. Defense spending, which was $698 billion in 2010, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Alliant Inaugurates Utah Facility

Posted: 30 Aug 2011 11:05 AM PDT

Alliant Techsystems Inc. (NYSE:ATK), yesterday, inaugurated its new Aircraft Commercial Center of Excellence (ACCE) facility in Clearfield, Utah. The company said the ACCE plant has been made ready for operation in less than one year after the announcement of its expansion.
The ACCE facility is strategically located adjacent to Alliant's existing Utah composite facilities which manufacture military aircraft composite structures. The plant set to function as the headquarters for its commercial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CME Maintained At Neutral

Posted: 30 Aug 2011 11:05 AM PDT

We reiterated our 'Neutral' recommendation on CME Group Inc. (NASDAQ:CME) based on the current sustainability factor. The company reported its second-quarter earnings of $293.7 million or $4.38 per share, way ahead of the Zacks Consensus Estimate of $4.17. The earnings also surpassed the prior-year earnings of $270.7 million or $4.11 per share.
The improved result in the reported quarter was primarily attributable to moderate volume growth and strong expense management that also offset the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 30 Aug 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday after the release of U.S. data on CB Consumer Confidence.

USD/JPY was trading at 76.71, down 0.16% at time of writing.

The pair was likely to find support at 76.50, Friday's low, and resistance at 77.70, Thursday's high.

Earlier in the day, data showed that CB consumer confidence in the U.S. fell more-than-expected to a seasonally adjusted 44.5 last month from 59.2 in the preceding month whose figure was revised … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Airgas Approves Dividend Hike

Posted: 30 Aug 2011 10:35 AM PDT

To return more value to shareholders, the board of directors of Airgas, Inc. (NYSE:ARG) has authorized an increase of 10.3% in its quarterly dividend. The increased dividend of 32 cents per share is expected to be paid on September 30 to shareholders of record as on September 15. The company has hiked the dividend from 29 cents.
Previously, Airgas increased its quarterly dividend by 16% in January 2011. The company's dividend yield is 2.00%, much higher than the industry yield of 1.26%.
Airgas … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Housing Prices Mixed In June

Posted: 30 Aug 2011 10:35 AM PDT

In June, home prices were mixed. The Case-Schiller Composite 10 City index (C-10) rose a slight 0.04% on a seasonally adjusted basis, and is down 3.85% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) edged down by 0.06% on the month and is down 4.55% from a year ago.

Prices for both indexes rose on a not-seasonally-adjusted (SA) basis (which is how you will probably and incorrectly see most of the reports presented). Of the 20 cities, eight were up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Vale To Process Ore Waste

Posted: 30 Aug 2011 10:35 AM PDT

Brazilian miner Vale S.A (VALE) recently announced its plan for processing 80Mt of iron ore waste from tailings dams in Minas Gerais state in Brazil.
Studies proved that huge tones of iron ore waste has been lying for decades in eight tailings dams in the state. Recognizing production possibility from the huge potential waste, the company announced to recover 31Mt of ore. Moreover, the recovery process is anticipated to increase the longevity of Vale’s tailing dams.
As surveyed, the waste … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Good Buying Opportunity In So Many Sectors”

Posted: 30 Aug 2011 10:10 AM PDT

08/30/11 Pragma Securities’ Louis Sulsenti weighs in on today’s chopping trading session and this week’s event … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Western Union Restructures Business

Posted: 30 Aug 2011 10:05 AM PDT

Global payment services provider Western Union Co. (WU) has announced the formation of a new unit named Western Union Ventures, which will feature the company's new-age service offerings to customers.
After the introduction of the new unit, Western Union will have three reporting segments– Consumer Money Transfer business, Western Union Ventures and Business-to-Business Payments. The first segment will provide transfer services that enable people to send money around the world in minutes, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

COF-ING Direct Deal Under Fed Probe

Posted: 30 Aug 2011 10:05 AM PDT

The Federal Reserve has announced to hold public hearings on the proposed acquisition of ING Direct USA, the online banking unit of Amsterdam-based ING Groep NV (NYSE:ING), by Capital One Financial Corp. (NYSE:COF).
The public hearings for the proposed COF-ING Direct deal are scheduled to be held on September 20 in Washington, D.C.; September 27 in Chicago and October 5 in San Francisco. The Fed has also stated that it has extended the period for public comment on the agreement till October 12.
In … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Convenient Medical Clinics In Retail Settings Are Booming: It’s A Wake-Up Call For Family Physicians

Posted: 30 Aug 2011 10:05 AM PDT

From USA Today:

Insured patients are increasingly turning to the convenience of drugstore clinics like Minute Clinic and other medical resources outside the traditional doctor’s office setting when they can’t schedule day-of appointments with their primary-care provider. Some without health insurance say they find them a faster, less pricey alternative to urgent care or emergency room visits. Almost half of Minute Clinic’s clientele don’t have a primary-care doctor of their own.

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

European Markets Mixed At Close; Dax Down 0.46%

Posted: 30 Aug 2011 10:05 AM PDT

Forexpros – European stocks were mixed after the closing bell on Tuesday.

At the close of European trade, Germany's DAX fell 0.46%, London's FTSE 100 gained 2.70%, France's CAC 40 climbed 0.18% and the EURO STOXX 50 was down 0.01%.

Earlier in the day, data showed that CB consumer confidence in the U.S. fell more-than-expected to a seasonally adjusted 44.5 last month from 59.2 in the preceding month whose figure was revised down from 59.5.

Analysts had expected CB consumer confidence … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Risk Aversion Boosts Dollar, Euro Takes A Hit On Economic Reports

Posted: 30 Aug 2011 10:00 AM PDT

08/30/11 The euro took a dive this afternoon against the dollar following weak economic data including a slide in European economic confidence and a drop in US consumer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cuba’s Growing Pro-Freedom Resistance Movement

Posted: 30 Aug 2011 09:31 AM PDT

Cuban Spring?

“As attention focuses on the Middle East and North Africa, where protesters have taken to the streets to demand political change, some wonder whether Cuba will follow suit. A closer look at the island, where freedom fighters wage a nonviolent struggle against a regime desperate to conceal the effectiveness such methods have met during the "Arab Spring," reveals good news: a big story that cuts through the bleak reality of 52 years of totalitarian rule and the media noise … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NYFP Spotlight: Bob Santella, Sungard

Posted: 30 Aug 2011 04:29 AM PDT

08/30/11 Sungard’s Bob Santella discusses its Valdi Liquidity Solutions and weighs in on trading … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Progressive Reiterated At Neutral

Posted: 30 Aug 2011 09:20 AM PDT

Progressive Corp. (NYSE:PGR) holds a dominant position in product, service and distribution innovation, especially in Personal Auto. The company continues to focus on customer retention as well as actively manage its capital position and return wealth to its shareholders.
However, these positives are somewhat dwarfed by headwinds at its Commercial Auto businesses as well as volatile underwriting margins. We thus retain out Neutral recommendation on Progressive.
The company is also a leader in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Mississippi Hospital Taps NextGen

Posted: 30 Aug 2011 09:10 AM PDT

Quality Systems' (NASDAQ:QSII) wholly-owned subsidiary NextGen Healthcare's inpatient solutions were recently selected by Mississippi-based Montfort Jones Memorial Hospital ("MJMH"). Under the collaboration, MJMH will deploy NextGen's in-patient products such as the NextGen Inpatient Financials and NextGen Inpatient Clinicals in early 2012 to facilitate its migration to an automated healthcare IT platform. The implementation will coincide with the opening of a couple of new nursing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Tenet Eyes CardioVascular Associates

Posted: 30 Aug 2011 09:05 AM PDT

Tenet Healthcare Corp. (NYSE:THC) will acquire Alabama-based CardioVascular Associates P.C. (CVA) during the fourth quarter of 2011. The terms of the takeover have not been disclosed.  Tenet's subsidiary Brookwood Medical Center will partner with CVA to form CardioVascular Associated of the Southeast, which will act as a subsidiary of Tenet.
CVA is a 65-year old organization which specializes in providing heart and vascular care. It is one of the biggest cardiovascular facilities in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Healthways To Acquire Navvis

Posted: 30 Aug 2011 09:05 AM PDT

Healthways (NASDAQ:HWAY) recently announced that it has signed a definitive agreement to acquire Navvis & Company, a prominent provider of strategic consulting and change management services for health care systems in the U.S.  
Some of Navvis' focus areas include leadership development, clinical integration and system physician alignment. The consideration amount is $28.7 million, consisting of $23.7 million in cash and $5 million in Healthways common stock. The deal is anticipated to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Saks Unveils Expansion Plans

Posted: 30 Aug 2011 08:35 AM PDT

As part its long-term expansion opportunity, Saks Fifth Avenue OFF 5th – a part of Saks Incorporated (NYSE:SKS) plans to add five new stores in its portfolio for 2012.
Further, the new stores will be located in upscale outlets of Merrimack, Syracuse, Livermore, Grand Prairie, and Nashville. The Merrimack store will be the first Saks Fifth Avenue OFF 5TH in New Hampshire, and the store in Nashville will be a replacement store for the one lost in the 2010 flood in Tennessee.
In addition, each store … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

IFF Expands Capacity At Haverhill

Posted: 30 Aug 2011 08:35 AM PDT

New York-based, International Flavors & Fragrances Inc. (NYSE:IFF) recently announced expansion plans to be carried out at its Haverhill, UK production line at the European Center of Excellence for Flavor Delivery Systems and Encapsulation.
The company’s CAPLOCK production line underwent further expansion which together with the initial investments amounted to approximately $10 million. The Encapsulation technology primarily provides choices for delivering flavors in products ranging from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests 100 Hour MA (and Other Resistance At 1.4450)

Posted: 30 Aug 2011 08:19 AM PDT

The EURUSD moved higher and tested the peak of the resistance area at the 1.4450 level (SEE EARLIER POST). At the level, the 100 hour MA , highs and the underside of prior trendline all intersected.   The price has moved lower off the level as the choppy action continues for the pair and shorter term traders remain in the drivers seat.
On the downside, the 100 bar MA on the shorter 5 minute chart (see chart below) at the 1.4429 level currently is the dividing line on the downside … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Consumers Overshadow Petroleum Supplies

Posted: 30 Aug 2011 08:18 AM PDT

Tuesday, August 30, 2011
Crude Oil supply-side fundamentals remain bearish; however, the rise in consumer spending could be a sign that the US economy may not be down and out after all. The US consumer has been a driver of not only the US economy, but has also had an impact on the global economy as well. Technically, the Crude Oil chart looks as though it may be at a positive turning point, but no technical confirmation has taken place. Some traders may be a bit more cautious than usual and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Petrobras Contracts Excelerate

Posted: 30 Aug 2011 08:05 AM PDT

Brazilian state-controlled Petroleo Brasileiro S.A. or Petrobras (NYSE:PBR) has recently awarded a 15-year floating storage and regasification unit (FSRU) manufacturing contract to the Woodlands, Texas-based Excelerate Energy. However, the financial terms of the agreement were not disclosed.
The newbuild vessel, to be named VT3, will have a storage capacity of 173,400 cubic meters, thereby making it the largest FSRU in the industry. The unit will be designed to deliver 20 million cubic meters/day … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Sees Slight Slide On Supply Speculation

Posted: 30 Aug 2011 08:00 AM PDT

08/30/11 Front month crude prices took a minor hit this morning on growing speculation of a rise in US … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Stocks Pull Back After Monday’s Rally

Posted: 30 Aug 2011 08:00 AM PDT

08/30/11 Wall Street starts in negative territory, following Monday’s rally. S&P Case-Shiller HPI improved on a monthly basis, while consumer confidence … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Rebounds From 5-month Low With Storm Activity In Focus

Posted: 30 Aug 2011 08:00 AM PDT

Forexpros – Natural gas futures were higher on Tuesday, rebounding from a five-month low as renewed concerns over a potential disruption to U.S. supplies in the Gulf of Mexico buoyed prices.

On the New York Mercantile Exchange, natural gas futures for October delivery traded at USD3.858 per million British thermal units during U.S. morning trade, climbing 0.74%.

It earlier rose as much as 0.95% to trade at a daily high of USD3.874 per million British thermal units.

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

Forex – Dollar Trims Gains After U.S. Consumer Confidence Drops

Posted: 30 Aug 2011 07:57 AM PDT

Forexpros – The U.S. dollar trimmed gains against its major counterparts on Tuesday, as fears over the outlook for economic growth were underlined by a report showing that U.S. consumer confidence tumbled to a more than two-year low in August.

During U.S. morning trade, the greenback was up against the euro, with EUR/USD shedding 0.45% to hit 1.4444.

Earlier in the day, sentiment on the shared currency was hit as German Chancellor Angela Merkel faced increased parliamentary opposition to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURJPY Tests Trendline Support And Holds

Posted: 30 Aug 2011 07:55 AM PDT

The EURJPY has been moving lower from most of the day but has found support against the key support. The price has been pounding against the 100 trendline and 50% retracement of the 2 week move to the upside in NY trade. The support held support at the 110.45 area and in the correction back higher is now back above the 200 hour MA (green line in the chart above) at the 110.67 level.    The trading bears today are feeling a little pressure, but the correction move higher remains … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GBP/AUD To Complete A Gartley Retracement Pattern At 1.5140

Posted: 30 Aug 2011 07:48 AM PDT

GBP/AUD

The GBP/AUD has been quietly sliding back after a sharp swing in the beginning of August from 1.4758 to 1.6387. It is now trading near 1.5250, sliding further downwards.
The 4H chart shows that the RSI is back below 30, so momentum is bearish in the medium term. We also crossed below the 200SMA so it is back in the bearish stance, although the fact it crossed to the upside before suggests we are pretty much in a sideways market now in the medium term.
The immediate technical … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Close To Two-day Low After U.S. Data

Posted: 30 Aug 2011 07:47 AM PDT

Forexpros – The pound was down against the U.S. dollar on Tuesday, trading close to a two-day low after a report showing that consumer confidence in the U.S. plunged to its lowest level over two years in August curbed demand for riskier assets.

GBP/USD hit 1.6256 during U.S. morning trade, the pair's lowest since Friday; the pair subsequently consolidated at 1.6266, tumbling 0.85%.

Cable was likely to find support at 1.6257, the low of August 25 and resistance at 1.6453, Monday's … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Eases As U.S. Consumer Confidence Tumbles

Posted: 30 Aug 2011 07:39 AM PDT

Forexpros – The euro trimmed losses against the U.S. dollar on Tuesday, easing off a two-day low after data showed that consumer confidence in the U.S. tumbled to its lowest level in more than two years in August.

EUR/USD pulled away from 1.4385, the pair's lowest since Friday, to hit 1.4438 during U.S. morning trade, still down 0.50% on the day.

The pair was likely to find support at 1.4330, Friday's low and resistance at 1.4532, the days high.

The Conference Board said its index of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Respecting Topside Resistance In Up And Down Action After Consumer Confidence

Posted: 30 Aug 2011 07:26 AM PDT

The EURUSD moved down on the much weaker Consumer Confidence(weaker US leads to weaker stocks and weaker EURO is the recent story). However, the price has moved back higher and tests the 100 bar MA on the 5 minute chart.  Activity is two way. The market is still unsure of direction. It is respecting resistance above but apprehensive to move any lower at the same time.  
There was chatter earlier that the ECB was in the market buying Italian bonds.  This may be keeping the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Rally After Fed’s Evans Comments, Fed Minutes Eyed

Posted: 30 Aug 2011 07:24 AM PDT

Forexpros – Gold futures rallied on Tuesday, climbing above the psychologically important USD1,800-an-ounce-level after Chicago Federal Reserve President Charles Evans said the Fed needed to be more aggressive in its easing policies.

On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,831.85 a troy ounce during U.S. morning trade, rallying 2.31%.

It earlier rose as much as 2.46% to trade at a daily high of USD1,833.35 a troy … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Poor Italian Auction Keeps Euro On Its Toes

Posted: 30 Aug 2011 06:51 AM PDT

The dollar is clinging on to a voracious early morning rally on Tuesday as investors consider a variety of factors. The Greek bank merger that helped spur confidence on Monday is likely to fizzle in terms of its positive impact. The ECB meanwhile continues to buy secondary Italian and Spanish debt as the Italian government finds weaker appetite for its freshly printed debentures.
U.S. Dollar – Trading volumes in American equity markets were thinner than usual on Monday as the North East … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Japan’s Unemployment Rate Rises, European Economic Confidence Takes A Dive & Dollar General Sees Strong 2Q Net Income

Posted: 30 Aug 2011 01:15 AM PDT

08/30/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the ringing of the NYSE opening … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Plexus Extends Wellhead Contract With Transocean Drilling

Posted: 30 Aug 2011 01:21 AM PDT

Plexus (LON:POS), the AIM quoted oil and gas engineering services business, has signed a further two year framework agreement with Applied Drilling Technology International (ADTI), the turnkey drilling division of Transocean Drilling UK, the world's largest offshore drilling contractor. The deal is estimated to be worth £2 million over the next two year to Plexus and is the fourth successive supply contract signed with ADTI over a working relationship that spans eight years. Under the terms … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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