DailyMarkets.com - Vistaprint Down To Underperform

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• Vistaprint Down To Underperform
• Transocean’s Aker Bid Approved
• It’s All About The Economy
• Benihana’s EPS Misses, Revenue Grows
• Real Consumer Spending Up In July To Record High
• USD/CAD Sees Sharp Reaction At The 0.9740 Triangle Support
• U.S Pending Home Sales Fall More-than-expected In July
• Unilever Divests To Fall In Line
• Brown Shoe Disappoints
• Crude Oil Jumps To 7-day High After U.S. Consumer Spending Data
• Above 1.6530 GBP/USD Opens Up 1.6618 And 1.6745
• Risk-Appetite Continues Rebound On Confidence In Bernanke
• Forex – USD/CAD Pulls Back From 3-week Low After U.S. Spending Data
• Apple Wins Injunction In Australia
• If EUR/USD Clears 1.4577 And Holds Above 1.45, 1.4940 Is In Sight
• Swiss Franc: Caution
• Australian Dollar: Technical Rebound In A Bearish Trend
• Japanese Yen: Under Pressure
• Canadian Dollar: Technical Rebound In A Bearish Trend
• Euro: The Downside Prevails
• British Pound: Under Pressure
• Allergan Continues At Neutral
• Stock Market News Briefs: Bank Of America, BlackRock, Broadcom, The Blackstone Group L.P., Citigroup, Clearwire, Dell, Jefferies Group, OmniVision Technologies, Regeneron Pharmaceuticals, Waddell & Reed Financial
• More On Three-Year Inflation Lowest In 54 Years
• PH Reiterates To Neutral
• Forex Trading: USDCHF Moves To New Day Highs. Keeps Bullish Bias Intact
• EUR/GBP In Extended Bearish Divergence; 0.8830 And 0.8885 Are Important Pivots
• US Household Spending Comes In Strong In July Boosting Sentiment
• Forex Trading: EURUSD Tries The Upside. Moves Back Above The 1.4516 Old August High
• U.S. Futures Add To Gains After Spending Data; Dow Jumps 1%
• U.S. Core PCE Price Index Rises In Line With Expectations
• GOL Downgraded To Underperform
• PPG Penetrates Into India
• ABB’s German Wind Park Order
• Forex – Dollar Broadly Lower Vs. Rivals As Risk Appetite Recovers
• Top Stories Pre-NY Open: CHF Weakens; Legarde Talks Banks, Growth; Nado As New PM
• Forex – GBP/USD Holds Gains As Market Sentiment Remains Upbeat
• Forex – EUR/USD Pares Gains Ahead Of Debt Crisis Meeting
• Corn Futures Rally To 11-week High On U.S. Crop Woes

Vistaprint Down To Underperform Posted: 29 Aug 2011 07:40 AM PDT We recently downgraded our rating on Vistaprint N.V. (NASDAQ:VPRT) from Neutral to Underperform. The rating on this online supplier of graphic design services was downgraded on a host of factors including muted guidance for fiscal 2012 and 2013, execution risk for a set of initiatives and stagnation in customer growth.   In its recently concluded fourth quarter 2011, Vistaprint reported adjusted earnings of 43 cents per share handily beating the Zacks Consensus Estimate of 32 cents per share. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Transocean’s Aker Bid Approved Posted: 29 Aug 2011 07:35 AM PDT Following the clearance from the Oslo Stock Exchange, Transocean Ltd. (NYSE:RIG) formally launched an all-cash acquisition bid worth 7.93 billion kroner or $1.46 billion for Norway’s Aker Drilling ASA along with a net debt of $800 million. Transocean's purchase price remains unaltered from the previously announced 26.50 kroner per share. However, the current bid has been made on an unconditional basis and the settlement has been guaranteed by a financial institution. Transocean along with its … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

It’s All About The Economy Posted: 29 Aug 2011 07:35 AM PDT Even as Hurricane Irene turned out to be less damaging than initially feared, it was nevertheless quite disruptive. Many Wall Street workers may find it difficult to get back to work today, though the New York City financial district and the public transportation system has largely resumed normal operations. As such volumes will likely be even thinner than is typically the case in this seasonally low-volume period.  It may be difficult to look for trends in thinly traded markets, but … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Benihana’s EPS Misses, Revenue Grows Posted: 29 Aug 2011 07:35 AM PDT Benihana Inc. (NASDAQ:BNHN) reported earnings of 10 cents per share in first quarter 2012, which missed the Zacks Consensus Estimate of 14 cents, but were 25% higher than the year-ago quarter earnings of 8 cents. However, the leading operator of Japanese restaurants in the U.S posted a 5.7% year-over-year increase in total revenue to $106.5 million. Total revenue benefited from improved comparable restaurant sales at both Benihana Teppanyaki and RA Sushi restaurants. Quarter Performance  The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Real Consumer Spending Up In July To Record High Posted: 29 Aug 2011 07:14 AM PDT The BEA reported today that real consumer spending increased in July to $9.428 trillion (2005 dollars), setting a new monthly record (see chart above).  Consumer spending in July increased by 0.46% from June, and by 2.3% from a year ago.  That was the highest monthly increase in consumer spending since December 2009, 19 months ago.  By major product type, the largest increase in July was the 2% jump in spending by consumers on durable goods. In comparison to the cyclical peak … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

USD/CAD Sees Sharp Reaction At The 0.9740 Triangle Support Posted: 29 Aug 2011 07:12 AM PDT Previous: USD/CAD in Yet Another Triangle Breakout to the Upside (8/26) USD/CAD USD/CAD has been in constant triangle formation, and false breakouts that have lead to larger triangle formations. Support: Last Friday, we had another break to the upside, which was followed by a sharp decline back to the 0.9740 triangle support to start this week's US session. However, we see a strong outside bar form as soon as the 0.9740 level was touched. This shows that USD/CAD bulls are protecting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S Pending Home Sales Fall More-than-expected In July Posted: 29 Aug 2011 07:06 AM PDT Forexpros – Pending home sales in the U.S. fell more-than-expected in July, with all regions showing monthly declines except for the West, industry data showed on Monday. In a report, the National Association of Realtors said its pending home sales index fell by 1.3% in July, after rising by 2.4% in June. Analysts had expected pending home sales to fall by 1.0% in July.   Year-over-year, U.S. pending home sales advanced at an annualized rate of 10.1%, falling short of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Unilever Divests To Fall In Line Posted: 29 Aug 2011 07:05 AM PDT Unilever Plc. (NYSE:UL) has decided to offload some of its hair care brands that it had bought from Alberto Culver in 2010, to settle matters with the U.S. Department of Justice. This has been necessitated in order to conform to the anti-monopolistic measures undertaken by the U.S. government, which felt that the Alberto Culver acquisition has given Unilever control of many important hair care brands in the country which would curb competition to a great extent. Unilever acquired US-based Alberto … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brown Shoe Disappoints Posted: 29 Aug 2011 07:05 AM PDT St. Louis, Missouri-based Brown Shoe Company, Inc (NYSE:BWS) recently posted a second quarter 2011 adjusted loss of 6 cents per share, significantly worse than the Zacks Consensus Estimate of earnings of 6 cents per share and the year-ago quarter earnings of 15 cents per share. The disappointing results were due to weak sales of toning footwear, lower gross margin and tough year-over-year footwear comp comparison. Footwear retailer and wholesaler, Brown Shoe reported that net sales in the quarter … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Jumps To 7-day High After U.S. Consumer Spending Data Posted: 29 Aug 2011 06:58 AM PDT Forexpros – Crude oil futures extended gains on Monday, jumping to a seven-day high after official data showed that U.S. personal spending rose the most since February last month, easing concerns over the economic outlook of the world's largest oil consumer. On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at USD87.15 a barrel during U.S. morning trade, climbing 2%.  It earlier rose as much as 2.6% to trade at USD87.61 a barrel, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Above 1.6530 GBP/USD Opens Up 1.6618 And 1.6745 Posted: 29 Aug 2011 06:49 AM PDT Prev: GBP/USD Rejects Slow Rally at 1.6340; Bearish Push Targets 1.6205, 1.6110 (8/26) GBP/USD Rejection of Bearish Attempt: The GBP/USD saw a bearish push to 1.6207 before the market pushed up the pair back above a rising support seen in the 4H chart. This support connects  the July 12 low of 1.5780 and August 11 low of 1.6110. The respect of this support despite cracking it shows bulls are still in control. Note that this stretched a 61.8% retracement to 78.6% retracement. It … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Risk-Appetite Continues Rebound On Confidence In Bernanke Posted: 29 Aug 2011 06:44 AM PDT Fundamental Headlines • S&P 500 Falls to Reagan Recession Values – Bloomberg • Brussels Rules Out Bank Recapitalization – Financial Times • Noda Poised to Become Japan Premier – Financial Times • Merkel Vulnerable as Euro and Libya Backlash Builds – Reuters • Central Bankers Worry Economy Still in Peril – WSJ European Session Summary The safe haven block was the worst performing group of currencies in the Asian and European sessions, falling over one percent in total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/CAD Pulls Back From 3-week Low After U.S. Spending Data Posted: 29 Aug 2011 06:36 AM PDT Forexpros – The U.S. dollar trimmed losses against its Canadian counterpart on Monday, pulling back from a three-week low after official data showed that U.S. personal spending rose the most since February last month. USD/CAD pulled back from 0.9739, the pair's lowest since August 4, to hit 0.9761 during U.S. morning trade, still down 0.57%. The pair was likely to find support at 0.9601, the low of August 4 and resistance at 0.9923, Friday's high. The U.S. Bureau of Economic Analysis … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Apple Wins Injunction In Australia Posted: 29 Aug 2011 06:35 AM PDT Apple Inc.(NASDAQ:AAPL) has won another injunction against Samsung Electronics Co., which will delay the launch of the latter's Galaxy Tab 10.1 until the end of September, in Australia. Samsung had originally scheduled the launch of its Galaxy Tab 10.1 tablet in Australia in the middle of September. Last month, Apple had sued Samsung in the Sydney Federal Court, accusing Samsung to have violated patent rights and alleged that the latter's Galaxy 10.1 tab copied the iPad tablet in some respects. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

If EUR/USD Clears 1.4577 And Holds Above 1.45, 1.4940 Is In Sight Posted: 29 Aug 2011 06:23 AM PDT Prev: EUR/USD's Loud Noise Causing Whiplash…(8/26) EUR/USD EUR/USD broke above last week's high of 1.4517 and also cracked the 7/27 high at 1.4535. This price action is seen in the daily chart as a confirmation of a declining resistance that contained a congestion pattern. With a break to the upside, we are at least going back towards a flatter consolidation if not a bullish continuation. Therefore, a possible target is the 1.4940 level high. Before that, we will need to clear the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Swiss Franc: Caution Posted: 29 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

Australian Dollar: Technical Rebound In A Bearish Trend Posted: 29 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

Japanese Yen: Under Pressure Posted: 29 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

Canadian Dollar: Technical Rebound In A Bearish Trend Posted: 29 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: 29 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: 29 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

Allergan Continues At Neutral Posted: 29 Aug 2011 06:11 AM PDT We continue to have a Neutral recommendation on Allergan Inc. (NYSE:AGN) following the release of second quarter 2011 financial results. The company has a solid track record of meeting or beating its earnings guidance. Allergan second quarter earnings of 96 cents per share were above the company's guidance range of 93 cents – 95 cents per share and a penny ahead of the Zacks Consensus Estimate. Strong sales helped boost earnings. While earnings increased 12.9% from the year-ago quarter, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Stock Market News Briefs: Bank Of America, BlackRock, Broadcom, The Blackstone Group L.P., Citigroup, Clearwire, Dell, Jefferies Group, OmniVision Technologies, Regeneron Pharmaceuticals, Waddell & Reed Financial Posted: 29 Aug 2011 06:11 AM PDT     According to reports, Bank of America Corporation (NYSE:BAC) has planned to sell at least half of its 10% stake in China Construction Bank     Dell Inc. (NASDAQ:DELL) announced the finalization of its acquisition of Force10 Networks, and Dell expects the purchase to be accretive to the earnings in next year's second half     A Bloomberg report stated that Clearwire Corporation (NASDAQ:CLWR) is in talks with The Blackstone Group (NYSE:BX) about … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

More On Three-Year Inflation Lowest In 54 Years Posted: 29 Aug 2011 06:10 AM PDT Percent change in price from July 2008 to July 2011: Item   3-Year % Change   Natural Gas -31.60 Fuel Oil -20.65 Eggs -18.10 Oranges -16.50 Tomatoes -15.82 Gasoline -10.60 Milk -7.75 Apples -5.37 Margarine -2.70 Bananas -2.55 Flour -2.02 Electricity 2.93 Orange Juice 9.23 Bread 9.32 Chicken 9.66 Ground Chuck 17.50 Average -5.31 As a follow-up to this CD post featuring three-year inflation rates, the chart above shows the three-year percentage … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PH Reiterates To Neutral Posted: 29 Aug 2011 06:05 AM PDT We recently maintained a Neutral recommendation on Cleveland, Ohio-based, Parker Hannifin (NYSE:PH). The company is a leading worldwide provider of full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components. In addition to motion and control products, the company is also a leading worldwide producer of fluid purification, fluid and fuel control, process instrumentation, air conditioning, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Moves To New Day Highs. Keeps Bullish Bias Intact Posted: 29 Aug 2011 05:59 AM PDT The USDCHF has continued its move to the upside and is trading at new highs for the day. The price last traded at this level on July 22nd, 2011.  The next target will come in at the 0.8210 level which is the 38.2% of the move down from the December 2010 high to the low reach this month.  The price broke above trendlines today at 0.8095 and on Friday moved above the bull flag formation (see chart below).  Momentum is developing. Intraday traders will like to see the price hold … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP In Extended Bearish Divergence; 0.8830 And 0.8885 Are Important Pivots Posted: 29 Aug 2011 05:56 AM PDT Prev: EUR/GBP Accelerates after Breakout of Channel Resistance (8/24) EUR/GBP A bearish divergence means the chart shows rising price highs, but the indicator highs, in this case the RSI highs are flat or declining. This suggests a lost of momentum. It should be noted that divergences can be quite extended in a trending market. Here we have the EUR/GBP in an uptrend in the 1H chart, finally taking a break above an extended divergence that started last Thursday. The EUR/GBP has been … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

US Household Spending Comes In Strong In July Boosting Sentiment Posted: 29 Aug 2011 05:51 AM PDT In a positive sign for the US economy and the macro data we saw personal spending for the month of July climbed 0.8%. That beat out the consensus forecast of 0.5% rise. Domestic spending makes up the majority of US economic activity and therefore this report provides some hope for an economy that has slowed sharply this year. we had an inkling of a better report as the GDP for the second quarter – the second release we had last week – show that personal consumption had been revised upward, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tries The Upside. Moves Back Above The 1.4516 Old August High Posted: 29 Aug 2011 05:45 AM PDT The EURUSD broke activity has picked up with a move back above the 200 bar MA (green line) on the 5 minute chart at the 1.4500 level. The price has pushed to a high of 1.4523 (so far). This is  above the 100 bar MA on the 5 minute chart at the 1.4515 level (blue line).    The 1.4516 level was also the high from August 17th. Staying above might gain the markets attention and push the price onward. Staying above the 1.4516 will of course look toward the highs for the day at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Futures Add To Gains After Spending Data; Dow Jumps 1% Posted: 29 Aug 2011 05:42 AM PDT Forexpros – U.S. stock futures pointed to a broadly higher open on Monday, as appetite for riskier assets remained supported after comments from Federal Reserve Chairman Ben Bernanke and after the U.S. east coast escaped major damage from Hurricane Irene over the weekend.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br />&nbsp;<br />Ahead of the open, the Dow Jones Industrial Average futures pointed to a gain of 1%, the S&amp;P 500 futures indicated a rise … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Core PCE Price Index Rises In Line With Expectations Posted: 29 Aug 2011 05:36 AM PDT Forexpros – The U.S. core personal consumption expenditure index rose broadly in line with market expectations in July, official data showed on Monday.<br /><br />In a report, the Bureau of Economic Analysis said its seasonally adjusted core PCE price index rose by 0.2% in July, in line with expectations. June&rsquo;s figure was revised up to a 0.2% gain from a previously reported 0.1% increase.<br /><br />The report showed that personal spending rose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

GOL Downgraded To Underperform Posted: 29 Aug 2011 05:35 AM PDT We recently downgraded our recommendation on GOL Linhas Aereas (NYSE:GOL) to Underperform from Neutral. The lowered rating was due to the significant international competition in the airlines industry, which may adversely affect the company's market share. In addition, the proposed merger of Lan Airlines and Tam S.A. is anticipated to aggravate competition further. However, during the second quarter, GOL was able to make more efficient use of its fleet, both in terms of increased productivity … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PPG Penetrates Into India Posted: 29 Aug 2011 05:35 AM PDT PPG Industries Inc. (NYSE:PPG) formed a 50-50 joint venture with Harsha Exito Engineering Private Ltd, India, to cater primarily to strong demand for fibre glass in India. The financial details were not disclosed. Fibre glass is a polymer used in boats, automobiles, water tanks, roofing, pipes, etc. Harsha Exito Engineering Pvt Ltd is situated in Tamil Nadu, India and will serve the Indian market by manufacturing and selling fiber glass reinforcement products. The expansion of India’s economy will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ABB’s German Wind Park Order Posted: 29 Aug 2011 05:35 AM PDT ABB Ltd. (NYSE:ABB) won a $30 million order to provide supply frequency converters for the offshore wind park, Global Tech I, in Germany's North Sea. The order was booked in the second quarter. ABB specifically designs medium-voltage frequency converters for use in wind turbines. These converters use integrated gate-commutated thyristor (IGCT) technology and have power rating of more than 5 megawatts (MW). ABB is supplying a range of medium-voltage frequency converters that are specifically … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower Vs. Rivals As Risk Appetite Recovers Posted: 29 Aug 2011 05:10 AM PDT Forexpros – The U.S. dollar stayed broadly lower against its major counterparts on Monday, as demand for higher yielding assets was supported after Friday&rsquo;s speech by Federal Reserve Chairman Ben Bernanke.<br /><br />During European afternoon trade, the greenback was almost unchanged against the euro, with EUR/USD dipping 0.01% to hit 1.4496.<br /><br />The euro was pressured lower ahead of a meeting later Monday of the European Parliament’s economics … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Top Stories Pre-NY Open: CHF Weakens; Legarde Talks Banks, Growth; Nado As New PM Posted: 29 Aug 2011 05:09 AM PDT With Tentative Risk-On to Start Week, CHF Weakens Overall risk sentiment was positive overnight, which helped boost higher yielders against the safe haven USD. The EUR, GBP, AUD, NZD and CAD were stronger against the USD following Bernanke's speech as traders focus on the prospect of weak macro data from the US and the idea that Bernanke and the Fed will come up with some form of monetary stimulus in the months to come. The UK was closed for a national holiday, which took away a good chunk of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Holds Gains As Market Sentiment Remains Upbeat Posted: 29 Aug 2011 04:45 AM PDT Forexpros – The pound held early gains against the U.S. dollar in holiday thinned trade on Monday, as market sentiment remained positive after comments by Federal Reserve Chairman Ben Bernanke eased concerns over the outlook for U.S. growth.<br /><br />GBP/USD hit 1.6409 during European afternoon trade, the pair&rsquo;s highest since August 24; the pair subsequently consolidated at 1.6397, gaining 0.18%.<br /><br />Cable was likely to find support at 1.6257, last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Pares Gains Ahead Of Debt Crisis Meeting Posted: 29 Aug 2011 04:26 AM PDT Forexpros – The euro pared gains against the U.S. dollar on Monday, pulling back from an eight-week high ahead a meeting of the European Parliament’s economics committee to discuss the sovereign debt crisis in the single currency bloc.<br /><br />EUR/USD pulled back from 1.4549, the pair&rsquo;s highest since July 5, to hit 1.4508 during European early afternoon trade, up just 0.07% over the day.<br /><br />The pair was likely to find support at 1.4330, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Corn Futures Rally To 11-week High On U.S. Crop Woes Posted: 29 Aug 2011 03:40 AM PDT Forexpros – Corn futures rallied to an 11-week high on Monday, extending sharp gains from the previous session after a leading industry group lowered its U.S. corn crop forecast, adding to growing fears over deteriorating U.S. crop conditions.&nbsp;&nbsp; <br /><br />On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD7.7688 a bushel during European morning trade, gaining 0.7%.&nbsp; <br /><br />It earlier rose as much as 1% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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