DailyMarkets.com - SNP 2Q Flourishes On Higher Prices
DailyMarkets.com - SNP 2Q Flourishes On Higher Prices |
- SNP 2Q Flourishes On Higher Prices
- Lockheed Makes R&D Deal With USAF
- Merge Remains ‘Underperform’
- Boeing’s Dreamliner Set To Take Off
- Hot Option Plays: Big Ben Speaks
- Hot Option Plays: Will This Rally Blow Over?
- Hot Option Plays: Equities On The Move
- Forex – AUD/USD Up In U.S. Trade
- WellPoint Dips To Neutral
- Vietnam Central Bank Lifts Dollar Reserve Ratios 100bps
- Royal Dutch Shell Stays At Neutral
- NCR Unveils New ATM Services
- Forex – USD/JPY Up During The U.S. Session
- SP500 Playing From One Range Value Area To The Next Reference Level
- Wells Fargo Stays Neutral
- SanDisk Launches New Music Player
- DIRECTV Offers New Service
- Moody’s Keeps Toyota At Aa3
- Irene To Hurt Chubb’s 3Q
- Medtronic Presents Positive Data
- Chunghwa Soars In 2Q11
- H-P Wins Data Center Deal
- “Some Relief…hurricane Didn’t Cost As Much”
- Spending Rises, Savings Fall
- BNY Mellon To Divest Alcentra Unit
- Dendreon’s Atlanta Facility Cleared
- Dollar Slides, Risk Appetite Surges
- All Eyes On IMAX Corp. Calls As Shares Soar
- Altria Hikes Dividend
- Forex Trading: EURUSD Still Lacks The Conviction
- Meridian Unveils FY12 Guidance
- Solid Earnings Season, Stocks Look Cheap
- Baxter Buys Baxa For $380M
- Healthways Finds That U.S. Struggles
- Trans-Pacific Aerospace Inches Closer To Approval
- America West Resources Second Quarter Results
- CSN Issues $1.2B Debentures
- Shanghai Petrochem 1H Profit Down
- Not All Wheat Is Created Equal!
- “Economist” Vs. Economist Smackdown
- Earnings Preview: Data-Dump Week
- Airlines Plan To Resume Operations
- Wall Street Rallies, Insurers Soar
- Natural Gas Futures Edge Higher Ahead Of Contract Expiry
- Forex – Dollar Lower Vs. Rivals As U.S. Consumer Spending Rises
- Forex Trading: EURCHF On It’s Own Mission Higher
- Gold Futures Fall Below USD1,800, Spot Gold Extends Drop
- Crude Rallies On Dollar Slide, Global Equity Rebound
- Forex – GBP/USD Extends Gains After U.S. Personal Spending Rises
- Forex – EUR/USD Holds Gains After Mixed U.S. Economic Data
- Forex Trading: USDCHF Moves Above The 38.2% Fibo Resistance
- US Personal Spending Jumps, Japan Elects New Prime Minister, & UK Home Prices Fall
SNP 2Q Flourishes On Higher Prices Posted: 29 Aug 2011 12:05 PM PDT China Petroleum and Chemical Corporation (NYSE:SNP), aka Sinopec, reported first half 2011 net income of 40.24 billion yuan (US$6.144 billion) and earnings per share of 0.464 yuan ($7.08 per ADS), both up 9.4% year over year. The increase can be attributable to higher capacity, domestic economic growth, and most importantly increased prices for petroleum and related products. |
Lockheed Makes R&D Deal With USAF Posted: 29 Aug 2011 11:35 AM PDT Lockheed Martin Corporation (NYSE:LMT) and the U.S. Air Force Research Laboratory (“AFRL”) Munitions Directorate have entered into a five-year cooperative research and development agreement ("CRADA") under which AFRL will assess the viability of Lockheed's cooled tri-mode seeker for integration onto Air Force weapon platforms. |
Posted: 29 Aug 2011 11:35 AM PDT We recently reiterated our Underperform rating on Merge Healthcare Incorporated (NASDAQ:MRGE) with a target price of $5.25. |
Boeing’s Dreamliner Set To Take Off Posted: 29 Aug 2011 11:35 AM PDT The Boeing Company's (NYSE:BA) much touted 787 Dreamliner series airplane has received U.S. Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) certifications having complied with all federal and European regulations. The certifications required for the Dreamliner's commercial use were received during a ceremony at the company’s Everett, Washington, facility. |
Hot Option Plays: Big Ben Speaks Posted: 29 Aug 2011 11:18 AM PDT Cusick’s Corner |
Hot Option Plays: Will This Rally Blow Over? Posted: 29 Aug 2011 11:18 AM PDT Cusick’s Corner |
Hot Option Plays: Equities On The Move Posted: 29 Aug 2011 11:18 AM PDT Cusick’s Corner |
Forex – AUD/USD Up In U.S. Trade Posted: 29 Aug 2011 11:15 AM PDT Forexpros – The Australian Dollar was higher against the U.S. Dollar on Monday after the release of U.S. data on Personal Spending. AUD/USD was trading at 1.0623, up 0.47% at time of writing. The pair was likely to find support at 1.0418, Thursday's low, and resistance at 1.0643, today's high. Earlier in the day, official data showed that U.S. personal spending rose more-than-expected to a seasonally adjusted 0.8% last month from -0.1% in the preceding month whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Posted: 29 Aug 2011 11:05 AM PDT We have downgraded our recommendation on WellPoint Inc. (NYSE:WLP) to 'Neutral' from 'Outperform' based on weak economic cues that give way to operating and financial leverage risk and price declines that are encountered off and on. |
Vietnam Central Bank Lifts Dollar Reserve Ratios 100bps Posted: 29 Aug 2011 10:54 AM PDT The State Bank of Vietnam raised the required reserve ratios on foreign currency for credit institutions by 100 basis points. The ratio on non-term foreign currency deposits and deposits of less than 12 months will be 8% (7% previously) for most State-owned commercial banks, joint stock banks, 100 percent foreign owned banks, joint venture banks, and foreign bank branches. The ratio will be 7% (6% previously) for the Bank for Agricultural and Rural Development, the Central … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Royal Dutch Shell Stays At Neutral Posted: 29 Aug 2011 10:50 AM PDT We have retained our Neutral recommendation on energy major Royal Dutch Shell plc (RDS.A) with a price target of $67. |
Posted: 29 Aug 2011 10:50 AM PDT The most coveted name in the area of Automated Teller Machine (ATM) manufacturing, NCR Corp. (NYSE:NCR) has made banking transactions easier, once again. This time, the technology solutions provider has introduced Total ATM Services targeting the mid-sized and community banks and credit unions. |
Forex – USD/JPY Up During The U.S. Session Posted: 29 Aug 2011 10:45 AM PDT Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on Personal Spending. USD/JPY was trading at 76.93, up 0.35% at time of writing. The pair was likely to find support at 76.48, Wednesday's low, and resistance at 77.70, Thursday's high. Earlier in the day, official data showed that U.S. personal spending rose more-than-expected to a seasonally adjusted 0.8% last month from -0.1% in the preceding month whose figure was revised up … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
SP500 Playing From One Range Value Area To The Next Reference Level Posted: 29 Aug 2011 10:37 AM PDT Sometimes, it's very important to strip your chart of all indicators and just focus on the message from price, which comes through clearest without all the clutter. First, let's define "Range Value Areas." According to one of the core principles of price behavior (and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Posted: 29 Aug 2011 10:35 AM PDT We have reaffirmed our Neutral recommendation on Wells Fargo & Company (NYSE:WFC) following a detailed analysis of its second quarter 2011 earnings results in light of the current economic environment. |
SanDisk Launches New Music Player Posted: 29 Aug 2011 10:35 AM PDT Hard disk manufacturing company, SanDisk Corporation (NASDAQ:SNDK) recently rolled out a new product to strengthen its position in the MP3 market. The company introduced Sansa Clip Zip MP3 player, the latest addition to the popular SansaClip family of products. Sansa Clip Zip MP3 player is a user-friendly, feature-rich music player with attractive pricing and is expected to gain massive popularity amongst music lovers. |
Posted: 29 Aug 2011 10:35 AM PDT DIRECTV (NASDAQ:DTV), the largest satellite TV operator in the U.S., recently launched a new value-added service providing live information on devastating storm Hurricane Irene to its subscribers. |
Posted: 29 Aug 2011 10:35 AM PDT Moody's Investors Service, the credit rating arm of Moody's Corp. (NYSE:MCO), has kept the credit rating of Toyota Motor Corp. (NYSE:TM) unchanged at Aa3, despite warning of a possible downgrade. The rating agency has also affirmed its outlook on the company as stable. |
Posted: 29 Aug 2011 10:35 AM PDT After witnessing a high catastrophe loss (cat loss) activity in the second quarter of 2011, property and casualty insurer Chubb Corp. (CB) is again set to incur further cat losses in the upcoming quarter due to Hurricane Irene, which made its way along the East Coast. Irene is the first major hurricane to strike the U.S. since Wilma in 2005, and the first hurricane of any kind to ravage the country since the Category 2 Ike in 2008. |
Medtronic Presents Positive Data Posted: 29 Aug 2011 10:35 AM PDT Medtronic (NYSE:MDT) has presented positive data for its CoreValve system at the European Society of Cardiology Congress 2011. It was observed that treatment with CoreValve led to positive clinical outcomes. The study enrolled 50 patients with the average age of 81 years and followed them for four years. |
Posted: 29 Aug 2011 10:35 AM PDT Chunghwa Telecom Co. Ltd. (NYSE:CHT) declared solid financial results for the second quarter of 2011. Quarterly, GAAP net income was approximately $460.2 million, up 2.8% year over year. However, net earnings per ADR were 83 cents, up 27.6% year over year. The increase was primarily attributable to the higher net income and the capital reduction in January 2011, which reduced the total number of outstanding shares by 20%. |
Posted: 29 Aug 2011 10:35 AM PDT Hewlett-Packard Company (NYSE:HPQ) recently announced that the Department of Water Resources (DWR) of the State of California has deployed its Converged Infrastructure suite by replacing the existing servers of Dell Inc. (NASDAQ:DELL) and Sun Solaris systems. Financial terms of the deal were not disclosed. |
“Some Relief…hurricane Didn’t Cost As Much” Posted: 29 Aug 2011 10:15 AM PDT 08/29/11 Meridian Equity Partner’s Stephen Guilfoyle discusses today’s advance in equities and key technical levels. This week’s event risk and gold futures are also … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Posted: 29 Aug 2011 10:05 AM PDT In July, Personal Income rose 0.3%, up from a 0.2% rise in June, and matching a 0.3% in May. The increase was slightly below the consensus expectations of a 0.4% increase. Meanwhile, Personal Consumption Expenditures (PCE) were up 0.8%, significantly higher than the consensus expectation of a 0.5% rise. That is a big turnaround from the 0.1% drop in June (revised from a 0.2% decline) and the 0.1% increase in May. Of course, if spending is rising faster than income, it means that the savings … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
BNY Mellon To Divest Alcentra Unit Posted: 29 Aug 2011 10:05 AM PDT On Friday, Bloomberg reported that The Bank of New York Mellon Corporation (NYSE:BK) is planning to sell-off its Alcentra unit, which manages $17 billion worth of assets including loans and high-yield bonds. Alcentra has been a subsidiary of BNY Mellon since January 2006. |
Dendreon’s Atlanta Facility Cleared Posted: 29 Aug 2011 10:05 AM PDT Dendreon Corporation (NASDAQ:DNDN) to its credit has been steadily receiving clearances from the US Food and Drug Administration (FDA) to expand manufacturing facilities for its cancer vaccine Provenge, in the U.S. The company's Atlanta facility can now be operational with 36 workstations. These facilities will be brought online in a staged manner. |
Dollar Slides, Risk Appetite Surges Posted: 29 Aug 2011 10:00 AM PDT 08/29/11 The US dollar kept declining this afternoon on economic reports and a rise in global … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
All Eyes On IMAX Corp. Calls As Shares Soar Posted: 29 Aug 2011 09:46 AM PDT All eyes on IMAX Corp. calls as shares soar |
Posted: 29 Aug 2011 09:35 AM PDT In order to enhance shareholders' value, the board of Altria Group, Inc. (NYSE:MO) has planned to raise Altria's regular quarterly dividend by 7.9% to 41 cents per share. |
Forex Trading: EURUSD Still Lacks The Conviction Posted: 29 Aug 2011 09:22 AM PDT The EURUSD mad a second attempt to the upside – moving above the 1.4516 level (high from August 17th) – but has wandered back down. The midpoint of the days range comes in at 1.45067 and a move below this level (a move that stays below) will give the next clue that a rotation back lower may be in the cards for the afternoon trade. The 1.4495 level was Friday's 4 PM closing level. This too would give bears further confirmation that the downside is now … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Meridian Unveils FY12 Guidance Posted: 29 Aug 2011 09:15 AM PDT Diagnostic test kits maker Meridian Bioscience (NASDAQ:VIVO) has issued its guidance for fiscal 2012. The Cincinnati-based company envisions net sales for the year in the range of $183 million to $192 million with earnings per share expected between 85 cents and 89 cents. |
Solid Earnings Season, Stocks Look Cheap Posted: 29 Aug 2011 09:05 AM PDT The Earnings Picture Second quarter earnings season is effectively over with 492 or 98.4% of the S&P 500 reports in. With the exception of a handful of financials — most notably Bank of America (NYSE:BAC), which had a $12 billion negative swing in net income from last year — this has been another great earnings season. The year-over-year growth rate for the S&P 500 is 12.1%, way off the 17.6% pace those same 492 firms posted in the first quarter. However, it you exclude the Financial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Posted: 29 Aug 2011 09:05 AM PDT Medical products giant Baxter International (NYSE:BAX) has inked a definitive deal to buy privately-held medical devices company Baxa Corporation for $380 million in cash. The transaction is expected to be completed after antitrust clearance and other customary closing conditions. |
Healthways Finds That U.S. Struggles Posted: 29 Aug 2011 08:40 AM PDT Healthways (NASDAQ:HWAY) and Gallup recently announced the results of the monthly Gallup-Healthways Well-Being Index ("WBI") for July 2011. The overarching WBI measure remained on the higher side at 66.4, just 100 basis points lower than the record score of 67.4 set in May 2010. |
Trans-Pacific Aerospace Inches Closer To Approval Posted: 29 Aug 2011 08:35 AM PDT Ken Nagy, CFA Trans-Pacific Aerospace Company (TPAC) intends to monetize its proprietary technology. TPAC and its joint venture partners intend to manufacture aerospace quality standard spherical bearings, rod ends and bushings (bearings) in China. Growth in China is two-fold: First the number of planes in China is expected to jump from 1,256 today to 4,330 over the next 20 years. With 3,000 spherical bearings on each plane the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
America West Resources Second Quarter Results Posted: 29 Aug 2011 08:35 AM PDT Ian Gilson, CFA Although the company reported record revenue based on an all time high production rate, revenue was below our estimate due to some mine safety issues. The mine has been worked on and off for many years and removing some of the pillars and expanding the mine required some remediation work on the bolts holding up the roof. The new bolts were three times as expensive as the standard ones, much work was needed to ensure safety … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Posted: 29 Aug 2011 08:35 AM PDT Companhia Siderurgica Nacional (NYSE:SID) or CSN recently raised funds through the public issue of non-convertible unsecured debentures having a maturity life of 8 years. Funds raised through the issuance will be used to finance working capital and other activities of CSN. |
Shanghai Petrochem 1H Profit Down Posted: 29 Aug 2011 08:35 AM PDT One of China's largest petrochemical companies, Sinopec Shanghai Petrochemical Company Limited (SHI) announced first half 2011 net income of RMB 1.4 billion or RMB 0.198 per diluted share, compared with RMB 1.5 billion or RMB 0.210 per diluted share a year earlier. |
Not All Wheat Is Created Equal! Posted: 29 Aug 2011 08:18 AM PDT Monday, August 29, 2011 |
“Economist” Vs. Economist Smackdown Posted: 29 Aug 2011 08:15 AM PDT From University of Maryland “economist” Peter Morici (emphasis mine): “Rebuilding after Irene, especially in an economy with high unemployment and underused resources in the construction and building materials industries, will unleash at least $20 billion in new direct private spending-likely more as many folks rebuild larger than before, and the capital stock that emerges will prove more economically useful and productive. This is not to discount the direct costs to individuals by … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Earnings Preview: Data-Dump Week Posted: 29 Aug 2011 08:05 AM PDT Earnings Preview 8/19/11 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. There are a few significant non-retailers that will report this week as well. There will be just 70 firms reporting, but 5 of those are in the S&P 500. By next Friday afternoon, almost 100% of the S&P 500 will have reported. Earnings season has been very strong with seven S&P 500 firms reporting positive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Airlines Plan To Resume Operations Posted: 29 Aug 2011 08:05 AM PDT After tropical storm Irene hit the East coast, major airline companies were forced to cancel approximately 9500 flight, completely halting operations at the busiest airports in the U.S. including the New York Airport . However, airline companies are seeking to reschedule flights as the hurricane is expected to exit the region by Monday. |
Wall Street Rallies, Insurers Soar Posted: 29 Aug 2011 08:05 AM PDT 08/29/11 US stocks rallied at the Open, with relief over the limited damage from Hurricane Irene. Shares of insurers soared, with Allstate and Hartford advancing over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Natural Gas Futures Edge Higher Ahead Of Contract Expiry Posted: 29 Aug 2011 08:01 AM PDT Forexpros – Natural gas futures edged higher on Monday, as forecasts for warmer-than-normal weather boosted demand expectations for the fuel and as investors readjusted positions ahead of the expiration of the September contract later in the day. On the New York Mercantile Exchange, natural gas futures for delivery in September traded at USD3.915 per million British thermal units during U.S. morning trade, easing up 0.12%. The September natural gas contract is … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Forex – Dollar Lower Vs. Rivals As U.S. Consumer Spending Rises Posted: 29 Aug 2011 07:53 AM PDT Forexpros – The U.S. dollar extended losses against almost all of its major counterparts on Monday, as official data showing that U.S. consumer spending rose at the fastest rate in five months in July boosted risk appetite and overshadowed weak U.S. housing data. During early U.S. trade, the greenback was down against the euro, with EUR/USD rising 0.25% to hit 1.4534. In Brussels, European Central Bank President Jean-Claude Trichet and other senior euro zone officials were appearing before … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Forex Trading: EURCHF On It’s Own Mission Higher Posted: 29 Aug 2011 07:45 AM PDT The EURCHF is also moving sharply higher today – breaking above the trendline resistance at the 1.1781 level. The pair has reached a high today of 1.1970 as it moves closer and closer to the key 100 day MA and 61.8% retracement of hte move down from the April 6th high at 1.2026 level. The pair started this move higher after breaking above the bull flag on Friday (see yellow area in the chart above). |
Gold Futures Fall Below USD1,800, Spot Gold Extends Drop Posted: 29 Aug 2011 07:43 AM PDT Forexpros – Gold futures erased gains on Monday, pulling back from a four-day high and spot gold prices extended their decline as increased risk appetite dampened the appeal of the precious metal. On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,789.75 a troy ounce during U.S. morning trade, shedding 0.31%. It earlier fell as much as 0.65% to trade at a daily low of USD1,779.25 a troy ounce. Spot gold prices, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Crude Rallies On Dollar Slide, Global Equity Rebound Posted: 29 Aug 2011 02:40 AM PDT 08/29/11 Front month crude prices were rising this morning as a global equity rally sparked risk appetite and the US dollar lost some ground against its higher-yielding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Forex – GBP/USD Extends Gains After U.S. Personal Spending Rises Posted: 29 Aug 2011 07:40 AM PDT Forexpros – The pound extended gains against the U.S. dollar on Monday, climbing to a fresh three-day high after government data showed that U.S. personal spending rose more-than-expected in July. GBP/USD hit 1.6450 during U.S. morning trade, the pair's highest since August 24; the pair subsequently consolidated at 1.6446, gaining 0.48%. Cable was likely to find support at 1.6257, last Thursday's low and resistance at 1.6476, the high of August 16. The Commerce Department said earlier … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Forex – EUR/USD Holds Gains After Mixed U.S. Economic Data Posted: 29 Aug 2011 07:24 AM PDT Forexpros – The euro held gains against the U.S. dollar on Monday, after official data showing that U.S. consumer spending rose more-than-expected last month overshadowed a report showing that U.S. pending home sales fell more-than expected. EUR/USD hit 1.4549 during U.S. morning trade, the pair's highest since July 5; the pair subsequently consolidated at 1.4541, gaining 0.29%. The pair was likely to find support at 1.4330, Friday's low and resistance at 1.4649, the high of June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
Forex Trading: USDCHF Moves Above The 38.2% Fibo Resistance Posted: 29 Aug 2011 07:20 AM PDT The USDCHF (and EURCHF) has continued its move to the upside with the pair now breaking above the 38.2% of the move down from the December 2010 high to the low reached this month at the 0.8210 level at the 0.8210 (see prior post by clicking here). Traders will be watching the level for support on a move back lower. Staying above, keeps the bulls in charge today as it would be a clear sign that the the trend higher continues for the pair. Another level to watch on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards |
US Personal Spending Jumps, Japan Elects New Prime Minister, & UK Home Prices Fall Posted: 29 Aug 2011 01:15 AM PDT 08/29/11 NYFP’s Morning Market Brief: 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 |
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