Monday, August 1, 2011

DailyMarkets.com - Jones Lang Beats Estimates

DailyMarkets.com - Jones Lang Beats Estimates


Jones Lang Beats Estimates

Posted: 01 Aug 2011 07:40 AM PDT

Jones Lang Lasalle Inc. (JLL) reported net income of $44 million or 99 cents per share in the second quarter of 2011 compared with $32 million or 72 cents per share in the year-earlier quarter.
Adjusted net income stood at $50 million or $1.12 per share for the second quarter of 2011 versus $37 million or 83 cents per share in the year-earlier quarter. Reported earnings surpassed the Zacks Consensus Estimate by two cents.
 Revenues in the reported quarter were $845 million compared with … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Humana Beats Estimates

Posted: 01 Aug 2011 07:35 AM PDT

Humana Inc.'s (NYSE:HUM) second-quarter operating earnings came in at $671.4 million or $2.50 per share, surpassing the Zacks Consensus Estimate of $2.07 per share. The figure also compares favorably with earnings of $566.4 million or $2.11 in the year-ago quarter.
The operating earnings exclude the positive impact of 21 cents per share in the second quarter of 2011 and 44 cents per share in the prior-year quarter as a result of favorable development of prior-period medical claims reserves. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Sohu Beats Estimate, Sales Soar

Posted: 01 Aug 2011 07:35 AM PDT

A leading online brand and Internet portal in China, Sohu.com Inc. (NASDAQ:SOHU) reported strong second quarter 2011 results, driven by robust revenue growth, partially offset by higher expenses.
Earnings per share (EPS) of $1.10 (including stock-based compensation) increased 34.1% from 82 cents reported in the year-ago quarter. Quarterly EPS also beat the Zacks Consensus Estimate of $1.06. However, EPS fell short of the company's guided range of $1.13 to $1.18.
Second quarter earnings exclude … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


MWIV Posts A Solid Quarter

Posted: 01 Aug 2011 07:35 AM PDT

MWI Veterinary Supply (NASDAQ:MWIV) reported third quarter 2011 EPS of 91 cents, comprehensively beating the Zacks Consensus Estimate of 80 cents and 23% higher than the year-ago earnings of 74 cents. The company reported revenues of $410.7 million, exceeding the Zacks Consensus Estimate of $388 million and up 18.1% year over year. The company generated 18.9% of revenue growth in the U.S and 14.1% year over year in UK, consisting of 4.3% organic growth and 9.8% growth related to foreign … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Australian Dollar: The Downside Prevails

Posted: 01 Aug 2011 07:18 AM PDT

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


Canadian Dollar: The Downside Prevails

Posted: 01 Aug 2011 07:18 AM PDT

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


U.S. ISM Manufacturing PMI Falls More-than-expected

Posted: 01 Aug 2011 07:11 AM PDT

Forexpros – Manufacturing activity in the U.S. fell more-than-expected in July, industry data showed on Monday.<br /><br />In a report, the Institute for Supply Management said its index of purchasing managers fell to 50.9 in July, compared to June&rsquo;s reading of 55.3.<br /><br />Analysts had expected the ISM index of purchasing managers to decline to 54.8 in July. <br /><br />On the index, a reading above 50.0 indicates industry expansion, below … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Itron Reports Sound Quarter

Posted: 01 Aug 2011 07:02 AM PDT

Itron, Inc. (NASDAQ:ITRI) has reported an EPS of 84 cents in the fiscal 2011 second quarter results, compared with 61 cents in the year-earlier quarter.
The quarter noted a benefit of 19 cents pertaining to discrete tax benefits. Excluding this benefit, adjusted EPS amounted to $1.20 versus 94 cents in the year-ago quarter.
Total revenue during the quarter amounted to $612.4 million versus $567.3 million in the prior year quarter.
Cost and Margins
Costs of goods sold increased to $421.3 million from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Itron Reports Sound Quarter

Posted: 01 Aug 2011 07:02 AM PDT

Itron, Inc. (NASDAQ:ITRI) has reported an EPS of 84 cents in the fiscal 2011 second quarter results, compared with 61 cents in the year-earlier quarter.
The quarter noted a benefit of 19 cents pertaining to discrete tax benefits. Excluding this benefit, adjusted EPS amounted to $1.20 versus 94 cents in the year-ago quarter.
Total revenue during the quarter amounted to $612.4 million versus $567.3 million in the prior year quarter.
Cost and Margins
Costs of goods sold increased to $421.3 million from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Itron Reports Sound Quarter

Posted: 01 Aug 2011 07:02 AM PDT

Itron, Inc. (NASDAQ:ITRI) has reported an EPS of 84 cents in the fiscal 2011 second quarter results, compared with 61 cents in the year-earlier quarter.
The quarter noted a benefit of 19 cents pertaining to discrete tax benefits. Excluding this benefit, adjusted EPS amounted to $1.20 versus 94 cents in the year-ago quarter.
Total revenue during the quarter amounted to $612.4 million versus $567.3 million in the prior year quarter.
Cost and Margins
Costs of goods sold increased to $421.3 million from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Adds To Gains On U.S. Debt Deal, Supply Disruption Threat

Posted: 01 Aug 2011 06:51 AM PDT

Forexpros – Crude oil futures extended gains on Monday, jumping to a three-day high after U.S. Congressional leaders reached an agreement to raise the U.S. debt ceiling, while mounting concerns over a disruption to supplies in the Gulf of Mexico also lent support.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD97.94 a barrel during U.S. morning trade, surging … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Dollar Mixed Despite Tentative Agreement On Plan To Avoid Default

Posted: 01 Aug 2011 06:38 AM PDT

The U.S. Dollar found brief support at the start of the Asian session on Monday after U.S. President Barack Obama announced that Congressional leaders had reached an agreement on reducing the deficit while simultaneously raising the debt ceiling, in order to prevent the world's largest economy from defaulting on its obligations on August 2. Although the agreement hasn't been passed through both chambers of Congress yet, the bipartisan agreement, on the surface, appears to appease both … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


ADP’s EPS In Line, Beats Revenues

Posted: 01 Aug 2011 06:36 AM PDT

Automatic Data Processing Inc. (NYSE:ADP) reported fourth quarter 2011 earnings per share of 48 cents that were in line with the Zacks Consensus Estimate. Earnings per share increased 14.3% year over year.
The fourth quarter earnings were primarily driven by strength in the Employer Services and PEO Services businesses. Additionally, the Dealer Services segment continued its recovery. Moreover, the year-over-year increase in earnings and revenues were aided by favorable foreign exchange … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stock Market News Briefs: Amgen, AmeriGas Partners, L.P., Citigroup, ChevronTexaco, Eagle Bulk Shipping, J P Morgan Chase & Co, Merck & Company, Newell Rubbermaid, STEC, Southwest Gas, Wells Fargo & Company

Posted: 01 Aug 2011 06:36 AM PDT

    Chevron Corp. (NYSE:CVX) reported a jump in its second-quarter 2011 profits, benefiting from higher oil prices and stronger refining margins. Earnings per share (excluding adjustments for foreign-currency effects) came in at $3.89, beating the Zacks Consensus Estimate of $3.55 and the year-ago adjusted profit of $2.58

    Amgen Inc. (NASDAQ:AMGN) reported second quarter earnings per share of $1.35, above the Zacks Consensus Estimate of $1.30, and 0.7% higher than … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Incivek Limits Vertex’s Losses

Posted: 01 Aug 2011 06:36 AM PDT

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) posted second quarter 2011 loss (including stock-based compensation expense) of 82 cents per share, narrower than the Zacks Consensus Estimate of 93 cents and the year-ago loss of 83 cents. Increased revenues from the sale of hepatitis C virus (HCV) candidate, Incivek (telaprevir) helped reduce the loss.
Revenues
Riding on the strong sales of Incivek, which was launched during the quarter, total revenue soared 262% to $114.4 million, surpassing the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


QLogic Beats; Outlook Disappoints

Posted: 01 Aug 2011 06:36 AM PDT

A leading supplier of high performance network infrastructure solutions, QLogic Corporation (NASDAQ:QLGC) reported strong first quarter 2012 earnings, which beat the Zacks Consensus Estimate by a nickel.
Earnings per share of 31 cents (excluding one-time charges, but including stock-based compensation expense) increased 29.2% year over year, based on a year-over-year revenue growth of 6.3% and margin expansion.
Operating Performance
Gross profit was $101.9 million, up 8.3% on a year-over-year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD Trims Losses Ahead Of U.S. Debt Deal Vote

Posted: 01 Aug 2011 06:36 AM PDT

Forexpros – The U.S. dollar pared losses against its Canadian counterpart on Monday, as concerns over the possibility of a U.S. ratings downgrade curbed demand for higher yielding assets, ahead of a vote on a deal to raise the U.S. debt ceiling.<br /><br />USD/CAD pulled back from 0.9490, the daily low, to hit 0.9525 during early U.S. trade, still down 0.29% on the day.<br /><br />The pair was likely to find support at 0.9457, the low of July 28 and resistance at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Rebound For Dollar Short-lived

Posted: 01 Aug 2011 06:19 AM PDT

Earlier hopes for a rebound for the dollar in light of all round agreement to raise the debt-ceiling have fallen on rocky grounds as investors think back to Friday's growth report from the U.S. While the debt-gridlock may have been broken dealers are busy disentangling the mess leading up to Friday's culmination of fears and recognizing that the risk-aversion tone happened with good reason. The short-covering rally for the dollar appears to have run its course in Asian and European … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Japanese Yen: Under Pressure

Posted: 01 Aug 2011 06:18 AM PDT

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


Swiss Franc: The Downside Prevails

Posted: 01 Aug 2011 06:18 AM PDT

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


British Pound: Under Pressure

Posted: 01 Aug 2011 06:18 AM PDT

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


Euro: The Downside Prevails

Posted: 01 Aug 2011 06:18 AM PDT

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


Rebound For Dollar Short-lived

Posted: 01 Aug 2011 06:18 AM PDT

Earlier hopes for a rebound for the dollar in light of all round agreement to raise the debt-ceiling have fallen on rocky grounds as investors think back to Friday's growth report from the U.S. While the debt-gridlock may have been broken dealers are busy disentangling the mess leading up to Friday's culmination of fears and recognizing that the risk-aversion tone happened with good reason. The short-covering rally for the dollar appears to have run its course in Asian and European … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Watch 12,000 In The YM

Posted: 01 Aug 2011 06:04 AM PDT

The mini Dow futures contract has endured steady selling pressure in the last week of trading. However, this sell-off could lead to a great buying opportunity ahead.
Long Term Trend Line
The daily chart shows the YM is testing the long term trend line that has formed beneath the lows of the 13-month advance, which began in July 2010.
Buyers have stepped in every time this line has been tested. Will buyers step in again? If 12,000 holds, I'd say yes.

Keep an eye on this line moving forward. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Northern Trust Acquires Omnium

Posted: 01 Aug 2011 06:01 AM PDT

Last Friday, Northern Trust Corporation (NASDAQ:NTRS) completed the acquisition of Omnium LLC, a leading hedge fund administrator, from Citadel. The acquisition of Omnium, which has around $70 billion in assets under administration, will enhance Northern Trust's capabilities and create an industry-leading hedge fund administration platform for institutional investors.
Omnium will be integrated into Northern Trust's Corporate & Institutional Services business unit as Northern Trust Hedge Fund … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Debt Deal Provides Relief

Posted: 01 Aug 2011 06:01 AM PDT

Stocks will likely reverse some of last week’s losses as the overnight debt deal in Washington removes a key source of uncertainty from the market. The deal removes the threat of a default, though the threat of a rating downgrade still remains.

The deal raises the debt ceiling and provides for deficit reduction measures totaling $2.4 trillion through a two-stage process. The first stage provides for $900 billion in deficit reduction over 10 years. In the second stage, a special congressional … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/CHF Touches Record Low As U.S. Debt Vote Eyed

Posted: 01 Aug 2011 05:58 AM PDT

Forexpros – The euro fell to a record low against the Swiss franc on Monday, as a combination of concerns over the global economic outlook and a U.S. ratings downgrade supported safe haven demand ahead of a vote on a deal to raise the U.S. debt ceiling.<br /><br />EUR/CHF hit 1.1263 during European afternoon trade, the pair&rsquo;s lowest since the inception of the single currency; the pair subsequently consolidated at 1.1268, shedding 0.37%.<br /><br />The pair … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Debt Deal, Our ‘Walking Pneumonia’ Economy, QE3 And More ‘Sense On Cents’

Posted: 01 Aug 2011 05:40 AM PDT

What now? What lies ahead on the challenging and winding road filled with clouds and great unknowns that defines our American economic landscape?
The political circus in Washington has clearly taken center stage over the last few weeks. Watching this show has been anything but entertaining and don't think the theatrics do not harm our economy. They do.
Uncertainty breeds risk aversion and our economy needs people and businesses willing to take risks.
Can we assume that the passage of a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Honeywell Completes CPG Sales

Posted: 01 Aug 2011 05:40 AM PDT

Honeywell International Inc. (NYSE:HON) has completed the divesture of Consumer Products Group (CPG) business with the closure of the sale of business to a privately held New Zealand based company, Rank Group Limited, for approximately $950 million in cash.
The CPG business produces four renowned consumer automotive brands, namely FRAM filters, Prestone antifreeze, Autolite spark plugs, and Holts car care products. The group operated under Honeywell’s Transportation Systems segment and generated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Stock Futures Rally On U.S. Debt Agreement; Dow Up 0.9%

Posted: 01 Aug 2011 05:33 AM PDT

Forexpros – U.S. stock futures pointed to a sharply higher open on Monday, as fears over a possible U.S. default eased after U.S. Congressional leaders reached an agreement to raise the U.S. debt ceiling.<br /><br />Dow Jones Industrial Average futures pointed to a gain of 0.9%, the S&amp;P 500 futures climbed 1%, while the Nasdaq 100 futures advanced 1.05%.<br /><br />Late on Sunday, President Barack Obama announced a deal between Republicans and Democrats to cut … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Potash Beats Consensus

Posted: 01 Aug 2011 05:31 AM PDT

Potash Corporation of Saskatchewan Inc. (NYSE:POT) earned 96 cents per share in the second quarter of 2011, outperforming the Zacks Consensus Estimate of 86 cents per share. Earnings increased 81% from last year’s 53 cents per share.
Quarterly sales shot up 61.8% to $2,305 million from $1,437 million in the second quarter of 2010 and outpaced the Zacks Consensus Estimate of $1,967 million.
Segment Review:
Potash: The segment was the star performer in the second quarter, producing 45.6% ($1,051 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Setback For Nokia-Seimens

Posted: 01 Aug 2011 05:31 AM PDT

Nokia Siemens Networks (NSN), a 50-50 joint venture between Nokia Corp. (NYSE:NOK) and Siemens AG (NYSE:SI), recently suffered a massive blow. On July 29, the upcoming wholesale 4G LTE (Long Term Evolution) wireless network operator LightSquared announced that it has decided to outsource a majority of its network to Sprint Nextel Corp. (NYSE:S) instead of Nokia Siemens Networks, declared earlier.
The deal between NSN and LightSquared was first announced in July 20, 2010. The 8-year agreement valued at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Shutterfly Beats, Loss Narrows

Posted: 01 Aug 2011 05:31 AM PDT

Shutterfly Inc. (NASDAQ:SFLY) has reported adjusted second-quarter 2011 loss of 12 cents per share, handily beating the Zacks Consensus Estimate of a loss of 39 cents but remaining in line with the year-earlier loss.
On a GAAP basis, the loss came in at 11 cents versus 22 cents in comparable quarter prior year and was far better than the company's guidance range of a loss of 46 cents to 35 cents per share. The improvement was driven by strong demand for photo-book along with considerable … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Goldcorp Meets Consensus

Posted: 01 Aug 2011 05:31 AM PDT

Goldcorp Inc.'s (NYSE:GG) reported net earnings were $489 million in the second quarter of 2011 compared with $524 million in the second quarter of 2010. Adjusted net earnings were $420 million, or 52 cents per share compared with $199 million or 27 cents per share in the year-ago quarter. Results were in line with the Zacks Consensus Estimate.
Revenue
In the second quarter of 2011, revenues increased 62% year over year to $1.3 billion, on gold sales of 606,400 ounces.
Record realized gold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The World Doesn’t End, But…

Posted: 01 Aug 2011 05:05 AM PDT

OK, tomorrow is not the end of the world after all. It looks like we have a deal (a bad deal, but a deal nonetheless). While the details are not all available yet, here is the broad outline.

It is a two-stage process. First there will be $900 billion in spending cuts over the next ten years. I have not seen exactly where those cuts are coming from, nor how front-end or back-end loaded they are.  Then a "super committee" made up of members of both houses will have to come up with an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Broadly Lower Vs. Rivals As Debt Vote Looms

Posted: 01 Aug 2011 05:02 AM PDT

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Monday, as hopes that U.S. lawmakers would pass a deal to raise the country&rsquo;s debt ceiling were tempered by concerns that the U.S. sovereign rating could still be downgraded.<br /><br />During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.19% to hit 1.4424.<br /><br />President Barack Obama and Senate leaders announced Sunday night that … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Off 2-month High After Disappointing U.K. PMI

Posted: 01 Aug 2011 04:35 AM PDT

Forexpros – The pound gave up gains against the U.S. dollar on Monday, pulling back from a two-month high after a report showed that manufacturing activity in the U.K. contracted in July for the first time in two years.<br /><br />GBP/USD pulled back from 1.6473, the pair&rsquo;s highest since June 6, to hit 1.6411 during European afternoon trade, slipping 0.08%.<br /><br />Cable was likely to find support at 1.6293, the low of July 28 and resistance at 1.6546, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Extends Gains Boosted By U.S. Debt Deal

Posted: 01 Aug 2011 04:26 AM PDT

Forexpros – The euro extended gains against the U.S. dollar on Monday, advancing to a three-day high, as expectations that the U.S. Senate would pass a deal to raise the country&rsquo;s debt ceiling boosted market sentiment.<br /><br />EUR/USD hit 1.4453 during European early afternoon trade, the pair&rsquo;s highest since July 27; the pair subsequently consolidated at 1.4437, gaining 0.28%.<br /><br />The pair was likely to find support at 1.4253, the low of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CHF Nears Record Low On U.S. Downgrade Fears

Posted: 01 Aug 2011 03:35 AM PDT

Forexpros – The U.S. dollar trimmed gains against the Swiss franc on Monday, to trade within striking distance of the pair&rsquo;s all-time low, amid concerns over the outlook for global growth and fears that credit rating agencies could still downgrade U.S. debt.<br /><br />USD/CHF pulled back from 0.7954, the daily high, to hit 0.7865 during European morning trade, up just 0.11% on the day.<br /><br />The pair was likely to find support at 0.7800 and resistance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Wheat Futures Rebound From 1-week Low On U.S. Debt Deal

Posted: 01 Aug 2011 03:22 AM PDT

Forexpros – Wheat futures were up for the first time in three days on Monday, rebounding from a one-week low after U.S. Congressional leaders reached an agreement to raise the U.S. debt ceiling, boosting appetite for riskier assets. <br /><br />Chicago Mercantile Exchange, wheat futures for September delivery traded at USD6.8962 a bushel during European morning trade, surging 2.55%. <br /><br />It earlier rose as much as 2.72% to trade at a daily high of USD6.9038 a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Polo Resources In Joint Venture With Axmin Over Sierra Leone Gold Assets

Posted: 31 Jul 2011 11:58 PM PDT

Mining group Polo Resources (LON:POL) has signed a joint venture agreement with Toronto-listed Axmin Inc over a gold exploration project in Sierra Leone. The deal will see Polo acquire a 51% interest in a new company which will own Axmin's Nimini East and West and Matotoka exploration licences, for a cash fee of US$7.5 million. Axmin will retain a 49% interest in the new company.

Completion of the transaction is expected to take around 60 days. Polo, under the terms of the agreement, will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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