Thursday, August 18, 2011

DailyMarkets.com - Sears Misses Estimates, Loss Widens

DailyMarkets.com - Sears Misses Estimates, Loss Widens

Sears Misses Estimates, Loss Widens

Posted: 18 Aug 2011 10:00 AM PDT

Sears Holdings Corporation (NASDAQ:SHLD) reported second-quarter 2011 adjusted loss of $1.13 per share, well above the Zacks Consensus Estimated loss of 64 cents per share while widening drastically from the prior-year quarter loss of 19 cents per share. Including special items, loss per share came in at $1.37 compared with earnings of 35 cents in the prior-year quarter.
The drop in quarterly performance of the company was primarily due to the sluggish top-line performance. Management is still … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GameStop Reports Weak 2Q

Posted: 18 Aug 2011 10:00 AM PDT

Weak schedule of new software title releases and lower sales made GameStop Corporation (NYSE:GME), the video game and entertainment software retailer, to post soft second-quarter 2011 results.
The quarterly earnings of 22 cents a share came down 15.4% from 26 cents earned in the prior-year quarter. However, the earnings were a penny ahead of the Zacks Consensus Estimate.
According to the market research firm, The NPD Group, the gaming industry appears to be the latest victim of the recent economic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

DARA’s KRN5500 Looking Attractive

Posted: 18 Aug 2011 10:00 AM PDT

Jason Napodano, CFA
DARA's KRN5500 Looking Attractive

DARA Biosciences (DARA) lead product candidate is KRN5500, a non-narcotic/non-opioid, analgesic agent, currently under development for the treatment of chemotherapy-induced peripheral neuropathy (CIPN) in patients with cancer. DARA has successfully completed phase 2a studies with KRN5500 and is planning to enter phase 2b trials shortly.

CIPN is a major dose limiting side effect of many commonly used chemotherapeutic agents, including … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chico’s Profit Jumps, Makes A Buy

Posted: 18 Aug 2011 10:00 AM PDT

Chico’s FAS Inc. (NYSE:CHS) reported second-quarter 2011 earnings of 25 cents per share, beating the Zacks Consensus Estimate by a penny. Moreover, the quarterly earnings surged 47.0% from the prior-year quarter’s earnings of 17 cents per share.
Net income was $43.4 million compared with $30.5 million in the prior-year quarter. The improvement in quarterly performance of the company was primarily driven by strong growth in top line and improved margin.
Sales
Net sales in the second quarter of 2011 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Canadian Solar Posts Lower Profits

Posted: 18 Aug 2011 10:00 AM PDT

Canadian Solar Inc. (NASDAQ:CSIQ) reported an adjusted EPS of 24 cents in the second quarter of 2011, falling short of the Zacks Consensus Estimate of 29 cents. The company's results, however, surpassed the year-ago quarterly earnings of 7 cents.
The upside came from higher shipments, cost efficiencies and lower raw material costs. On a reported basis, Canadian Solar reported an EPS of 16 cents versus 7 cents in the year-ago period.
Operational Performance
Canadian Solar had revenues of $481.8 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Ameriprise Sells Securities America

Posted: 18 Aug 2011 10:00 AM PDT

Ameriprise Financial Inc. (NYSE:AMP) announced the divestiture of its independent broker-dealer business unit Securities America Financial Corp. and its subsidiaries, to Miami-based Ladenburg Thalmann Financial Services Inc. (LTS) in a $150 million deal.
As per the agreement, Ameriprise would receive additional cash payments in 2012 and 2013 if Securities America fulfills certain financial objectives. The deal, which is expected to close by the end of this year, is subject to regulatory approval … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Smucker Outperforms Estimates

Posted: 18 Aug 2011 10:00 AM PDT

The J.M. Smucker Company (NYSE:SJM) delivered first quarter 2012 adjusted earnings of $1.12 per share, outperforming the Zacks Consensus Estimate of $1.08 and prior-year quarter of $1.04 per share.
Adjusted earnings exclude restructuring and merger and integration costs of 14 cents and 18 cents per share, in the first quarter of 2012 and 2011, respectively. However, the results in the quarter include the operations of Rowland Coffee Roasters, Inc. since the completion of the acquisition on May 16, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Delphi Reiterated At Neutral

Posted: 18 Aug 2011 10:00 AM PDT

We are reiterating our Neutral recommendation on the shares of Delphi Financial Group Inc. (NYSE:DFG) following its second quarter 2011 earnings release.
Delphi's second quarter core operating income of 86 cents per share missed the Zacks consensus Estimate of 91 cents but compared favorably with 79 cents reported in the prior-year quarter.
The earnings miss was driven by lower operating income at Delphi's Asset Accumulation segment, which was partly offset by higher operating income at its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

JA Solar Bleeds, Trims Outlook

Posted: 18 Aug 2011 10:00 AM PDT

JA Solar Holdings Co. Ltd (NASDAQ:JASO) announced loss per American Depositary Share (EPADS) of 22 cents in its second quarter of 2011, which came way below the Zacks Consensus Estimate of a 3-cent loss. In the year-ago quarter the company clocked earnings per ADS of 19 cents.
Quarterly Performance
JA Solar's revenues in the reported quarter were $413 million, ahead of the Zacks Consensus Estimate of $408 million and year-ago quarterly revenue of $368.3 million. Revenues were, however, lower … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Donnelley Buys Sequence Personal

Posted: 18 Aug 2011 09:35 AM PDT

Printing major R.R. Donnelley & Sons Company (RRD) recently announced that it has acquired New York-based privately held software company Sequence Personal, for an undisclosed amount.
Sequence's custom publishing software helps publishers to select content, which can be digitally produced as a specialized publication. The proprietary software also enables publishers to develop targeted content for readers and advertisers.  
Donnelley will integrate Sequence Personal into its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CPI Up 0.5% In July, Core Inflation 0.2%

Posted: 18 Aug 2011 09:35 AM PDT

The Consumer Price Index (CPI) rose by 0.5% in July, more than reversing a 0.2% decrease in June and up from its 0.2% rise in May. Year over year it is up 3.6%. It was well above the consensus expectation of a 0.2% increase.

Behind the Headlines

Looking a little bit deeper, the increase in headline inflation is mostly with energy, and to a lesser extent, food prices. Energy prices rose 2.8%. That is after a drop of 4.4% in June and a decline of 1.0% in May. Those declines were, however, after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

As Equities Tumble On Weak Data, USD Reverts To Safe Haven Status

Posted: 18 Aug 2011 09:17 AM PDT

US Dollar Rises as Investors, Traders Seek Safety
In today's morning NY trading, we saw the US dollar being bought aggressively as weak economic data from the US spurred demand for safe haven. Stocks sank while Treasuries rallied, with the 10-year yield falling to a record low as investors sought safety in US and other core bonds such as Germany and the UK. Gold climbed to a fresh record high while oil led commodities lower.

The batch of weak US data included rising jobless claims, a plunge … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dutch Kijlstra Buys ZOLL AutoPulse

Posted: 18 Aug 2011 09:10 AM PDT

Massachusetts-based resuscitation devices maker ZOLL Medical (NASDAQ:ZOLL) reported that its AutoPulse cardiac support pumps has been purchased by Kijlstra Ambulance BV, the largest ambulance service in the Netherlands' Friesland province. The Dutch entity has bought 22 such devices to equip its entire fleet of ambulances. Kijlstra has been using the non-invasive AutoPulse pumps on a couple of its rapid responder vehicles.  
The AutoPulse pumps, an automated, portable device offer emergency … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CMS Stresses Green Energy In Michigan

Posted: 18 Aug 2011 08:50 AM PDT

Consumers Energy, the major subsidiary of CMS Energy Corporation (NYSE:CMS) is focusing on green energy in a big way in its service territory Michigan. The focus comes from the company’s commitment to meet Michigan's 10% renewable energy standard. In lieu of this, the company has expanded its Experimental Advanced Renewable Program. The program provides for the long-term purchase of renewable energy generated by solar energy systems erected on properties and owned by the company’s electric … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Claims Back Over 400K

Posted: 18 Aug 2011 08:50 AM PDT

Initial Claims for Unemployment Insurance rose by 9,000 last week to 408,000. This was worse than the expected level of 400,000. Worse, last week's numbers were revised upwards by 4,000, so one could see it as a increase of 13,000.

Recently they seemed stuck once again in a trading range above the 400,000 level, after a brief period lower than that earlier this year. The drop last week below 400,000 level was very good news, after 17th straight weeks above it. An earlier brief drop below … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Progressive’s Earnings Plunge

Posted: 18 Aug 2011 08:50 AM PDT

Progressive Corp.'s (NYSE:PGR) earnings per share for July 2011 were 8 cents, a plunge of 53% from 17 cents earned in the year ago period. Net income dipped 55% from the year-ago period to total $51.1 million.
The company recorded net premiums of $1.49 billion during July 2011, up 5% from $1.42 billion in July 2010 and up 29% from $1.16 billion during June 2011. Net premiums earned were $1.44 billion, up 5% from $1.37 billion in the year-ago period and up 26% from $1.14 billion in the prior … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On Honda Motor

Posted: 18 Aug 2011 08:35 AM PDT

We reiterate our Neutral recommendation on Honda Motor Co. Ltd. (NYSE:HMC), which is a leading manufacturer of automobiles and the largest manufacturer of motorcycles in the world.  Headquartered in Tokyo, Japan, Honda is recognized internationally for its expertise and leadership in developing and manufacturing a wide variety of products that incorporate its efficient internal combustion engine technologies ranging from small general-purpose engines to specialty sports cars.
Honda released … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FDA Clears Roche’s Drug

Posted: 18 Aug 2011 08:35 AM PDT

Roche Holdings Ltd. (RHHBY) recently received approval from the US Food and Administration (FDA) for its drug – Zelboraf (vemurafenib) for the treatment of BRAF V600E mutation-positive, inoperable or metastatic melanoma (skin cancer). The regulatory body also approved the cobas 4800 BRAF V600 mutation test.
We note that the company is seeking approval of Zelboraf for the said indication in the European Union (EU), Switzerland, Australia, New Zealand, Brazil, India, Mexico and Canada.
While … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Battles SNB Fear And Flight To Safety Reaction

Posted: 18 Aug 2011 08:23 AM PDT

The USDCHF seems to be battling the fear of the SNB and the Pavolian reaction to buy CHF in times of trouble. 
The market today initally saw the price move higher (Asian session). This was the continuation of the SNB fear and the price moved toward the weeks highs. That move was stopped short of the high at 0.8009 level however, and when the US data came out weaker and stocks started to plunge further, so did the USDCHF.  The price action took the pair below trendline support and the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Australian Dollar: Technical Rebound In A Bearish Trend

Posted: 18 Aug 2011 08:18 AM PDT

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

Canadian Dollar: Technical Rebound In A Bearish Trend

Posted: 18 Aug 2011 08:18 AM PDT

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

Fed’s Plosser: This Ain’t Working Guys

Posted: 18 Aug 2011 08:16 AM PDT

Market fears are creeping insidiously out of the wood work as fractious central bankers try to explain where there colleagues are going wrong and as bank economists rein in their growth forecasts. The morning seems completely void of any kind of silver lining with each and every one of investors' earlier fears sitting rather unappetizingly on the plate in front of them. The dollar is up while stocks are substantially lower. Commodity prices are slumping and rising bonds are creating record … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Higher Vs. Rivals As Risk Appetite Crumbles

Posted: 18 Aug 2011 08:16 AM PDT

Forexpros – The broadly higher U.S. dollar was up against most of its major counterparts on Thursday, after a flurry of disappointing U.S. economic data saw risk aversion sharpen, sparking a massive flight to safety. <br /><br />During U.S. morning trade, the greenback was up against the euro, with EUR/USD dropping 0.79% to hit 1.4312.<br /><br />Wall Street investment bank Morgan Stanley cut its outlook for global economic growth for 2012, citing an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Peak Solar” Hits Tennessee As Grants Run Out

Posted: 18 Aug 2011 08:08 AM PDT

Nashville — “While the state has put great emphasis on solar technology in recent years, bringing that technology to bear in Tennessee homes and businesses is proving a difficult task because of the high cost of installation, which is becoming increasingly hard for the state and its citizens to swallow.

Wednesday, the Tennessee Solar Institute announced it would stop processing applications for further grants as it exhausts about $10 million of stimulus funds encouraging businesses to invest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Back Above The 200 Hour MA And 50% Correction Level

Posted: 18 Aug 2011 07:58 AM PDT

The EUEUSD has moved back above the 200 hour MA and 50% retracement at the 1.4309 level.  This has muddied the water a bit for the bears as the price should have stayed below these level if the bears were strong in their conviction.
On the topside traders if the more balance market continues, then traders will be eyeing the 1.4339 level which is the 38.2% of the move down from the highs as a target to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

All Conference Board Indicators Increase In July

Posted: 18 Aug 2011 07:57 AM PDT

From the Conference Board report today (here):

“The Leading Economic Index (LEI) for the U.S. increased for a third consecutive month in July (see chart above). Gains in the financial components and average weekly initial claims for unemployment insurance (inverted) offset the large negative contributions from vendor performance and consumer expectations. In the six-month period ending July 2011, the leading economic index increased 2.9 percent (about a 6.0 percent annual rate), slightly … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Word From The Floor: US Stocks Tumble, Philly Fed And Housing Disappoint

Posted: 18 Aug 2011 07:55 AM PDT

08/18/11 Wall Street tracked global equity markets lower. Global growth concerns, euro zone debt worries and weak data dragged stocks deep into the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Remains Lower After Flurry Of U.S. Data

Posted: 18 Aug 2011 07:54 AM PDT

Forexpros – The pound was down against the U.S. dollar on Thursday, falling to a fresh daily low as escalating fears over the global economic outlook saw risk aversion sharpen, boosting demand for the safe-haven greenback.<br /><br />GBP/USD hit 1.6419 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.6467, shedding 0.46%.&nbsp; <br /><br />Cable was likely to find support at 1.6322, the low of August 16 and resistance at 1.6591, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 18 Aug 2011 07:44 AM PDT

Forexpros – Natural gas futures extended losses on Thursday, tumbling to a five-month low after a report from the U.S. Energy Information Administration showed that natural gas inventories rose more-than-expected last week. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD3.853 per million British thermal units during U.S. morning trade, tumbling 2.21%.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br /><br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Tests Underside Of Trendline

Posted: 18 Aug 2011 07:43 AM PDT

The GBPUSD has corrected off the low and tests the underside of the trendline at the 1.6457 level. Staying below this level keeps the intraday bearishness in tact.  There also is topside resistance against the high from Tuesday and the original low from today at the 1.6472 area.  If these levels hold it could lead to a test of key support against the 38.2% retracement of the move up from the August 11th low, the 100 hour MA and the trendline connecting lows from August 11th and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Commodity Currencies, Equities Tank As Uncertainty Reemerges

Posted: 18 Aug 2011 07:38 AM PDT

Fundamental Headlines
• Consumers More Negative on U.S. Economy – Bloomberg
• August Factory Activity Skids to Lowest Level Since '09 – CNBC
• European Banks Have Huge Reserves, So What's the Worry? – CNBC
• ECB Dollar Loan Signals Euro-zone Stress – CNBC
• Global Growth Worries Maul Equities – Financial Times
European Session Summary
European equity markets plummeted on Thursday as markets began to digest the notion of a transaction tax, as proposed by French President … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CPI Core Inflation Stays Below 2% For 32nd Month

Posted: 18 Aug 2011 07:36 AM PDT

The BLS released its monthly CPI report today for July, here are some highlights:

1. From July of last year, the all items CPI inflation was 3.6%, the same rate as in May and June (see chart above). 

2. Over the last 12 months through July, food prices have increased by 4.2% (highest since March 2009), overall energy prices by 19%, and gasoline prices by 33.6%.  Oil prices have fallen by almost 17% over the last month from mid-July, which would mean that energy inflation has … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down Sharply On Global Economic Outlook

Posted: 18 Aug 2011 07:32 AM PDT

Forexpros – The euro was down sharply against the broadly stronger U.S. dollar on Thursday, dropping to a three-day low as a flurry of weak U.S. data exacerbated fears over global economic growth prospects.<br /><br />EUR/USD hit 1.4270 during U.S. morning trade, the lowest since August 15; the pair subsequently consolidated at 1.4290, retreating 0.92%.<br /><br />The pair was likely to find support at 1.4149, the low of August 12 and resistance at 1.4516, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Falls Below 200 Hour MA And 50% Fibo Level. Next Target 1.4261

Posted: 18 Aug 2011 07:22 AM PDT

The EURUSD fell sharply after the terrible Philly Fed index (-30 vs expectations of +2).  The fall is as a result of a flight into the safety of the dollar against that pair at least.  Stock markets in the US and Europe are getting hit with French banks coming under particular pressure.  The next target comes in now at the 1.4260 level. This is the 61.8% of the move up from the August 11th low. The bears will be looking for the 1.4309 level to hold the correction … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Rally To USD1,827 Record After Philly Fed Report

Posted: 18 Aug 2011 07:22 AM PDT

Forexpros – Gold futures rallied to a fresh record high on Thursday, topping USD1,827 an ounce after a flurry of disappointing U.S. economic data saw risk aversion sharpen, sparking a massive flight to safety. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,825.85 a troy ounce during U.S. morning trade, soaring 1.92%.&nbsp;&nbsp;&nbsp; <br /><br />It earlier rose as much as 2% to trade … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Are Gold & The S&P 500 Behaving Logically Or Irrationally?

Posted: 18 Aug 2011 07:20 AM PDT

JW Jones – http://www.optionstradingsignals.com/specials/index.php
Back on August 7th the S&P 500 was in the midst of a panic induced selloff and the bulls were running scared. Prices were collapsing and the bulls were racing to the exits. In the following weeks, piles of money flew out of equity mutual funds as the retail investors rang the register and pulled their money out near the lows which seems to be a regularly recurring event.
While most market participants were clearly … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Prices Slide On Growing Eurozone Debt Worries, Demand Concerns

Posted: 18 Aug 2011 02:15 AM PDT

08/18/11 Crude took a steep dive this morning following a steep drop in global equities affecting future demand … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Morning Market Brief

Posted: 18 Aug 2011 01:15 AM PDT

08/18/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the NYSE opening bell: a rise in jobless claims & steep declines in global … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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