Tuesday, August 16, 2011

DailyMarkets.com - Walmart Beats By A Penny

DailyMarkets.com - Walmart Beats By A Penny

Walmart Beats By A Penny

Posted: 16 Aug 2011 09:35 AM PDT

Wal-Mart Stores Inc. (NYSE:WMT) reported better-than-expected second-quarter 2012 results. The retailing giant reported quarterly earnings of $1.09 per share up by 12.4% over the prior-year earnings of 97 cents a share as well as surpassing the Zacks Consensus estimate by a penny.
The quarter's earnings included certain pre-tax items of approximately $49 million from a mark-to-market loss on certain foreign currency derivative positions related to the Massmart acquisition, approximately $36 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Evergreen Solar Files Chapter 11

Posted: 16 Aug 2011 09:35 AM PDT

Evergreen Solar Inc. (NASDAQ:ESLR) announced that it had voluntarily filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code. The company has been on a slippery slope over the past two years.
Evergreen Solar faced with a market flooded with cheap Asian competition, continued to register losses. The company tried to stem the tide by relocating its manufacturing base from its high cost Massachusetts factory to Wuhan, China.
The USP for Evergreen Solar has always been its proprietary … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

In-line With Our Estimates. PST Study Progressing On Schedule.

Posted: 16 Aug 2011 09:35 AM PDT

Interleukin Genetics Inc. (ILIU) reported financial results for the second quarter ending June 30, 2011 on August 12th.  The reported numbers were very much in-line with our estimates, with revenue coming in slightly ahead of what we were looking for.  The conference call and 10-Q, which also came out this morning, also did not contain any surprises relative to our expectations.  The company continues to make good progress with growing revenue of its weight management test and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

S&W Seed Stevia Update

Posted: 16 Aug 2011 09:02 AM PDT

Ian Gilson, CFA
S&W Seed (SANW) Stevia update:

The company has provided some news on Stevia. The first crop has been planted and leaf should be available for inventory and seed production later this year. The first shipments are expected in the December quarter, the second quarter of the 2012 fiscal year. We had not included any significant revenue in the first fiscal quarter and only $0.15 million in the second quarter in our published estimates. The company has exclusive rights to use … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Vulcan Downgraded To Underperform

Posted: 16 Aug 2011 09:02 AM PDT

We have downgraded our recommendation on Vulcan Materials Company (NYSE:VMC) to Underperform from Neutral.  Based in Birmingham, Alabama, Vulcan Materials is engaged in the production, distribution and sale of construction aggregates, and other construction materials and related services in the U.S. and Mexico. It is the nation's largest producer of construction aggregates and a leading producer of other construction materials.
Vulcan Materials released its second quarter earnings on August … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bullish On Sands China Ltd

Posted: 16 Aug 2011 08:56 AM PDT

We've been sitting at the sidelines for the past week, waiting for the market for a clearer direction. Some of the economic figures released over the past week are:

Initial Jobless Claims – 395K (402K)
Continuing Jobless Claims – 3.688M (3.73M)
Retail Sales ex Autos (MoM) – 0.5% (0.2%)
Retail Sales – 0.5% (0.4%)
Consumer Sentiment Index (Aug) – 54.9 (63.3)
Industrial Production (MoM) – 0.9% (0.5%)

Numbers in brackets represent market expectation. Above figures were from … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: AUDUSD Holds Trendline Support. Approaches 50% Retracement Resistance At 1.05018

Posted: 16 Aug 2011 08:48 AM PDT

The AUDUSD has dipped today but held support at the 1.0424 level (trendline in the chart above). The ability to bounce off the trendline, has pushed the pair back toward the 50% of the move down from the July 27th high. The move lower was caused by a sharp selloff in the global stock markets and thought that global growth was to slow. Since then, the price fo stocks has rebounded with the S&P moving up from 1100 to 1200 currently. 
A move higher will likely need continued increases in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Q2 Results

Posted: 16 Aug 2011 08:35 AM PDT

Brian Marckx, CFA

     Q2 RESULTS

 Transgenomic (TBIO) reported financial results for the second quarter ending June 30, 2011 on August 11th. While both revenue and net income/EPS missed our estimates by a wide margin, there were some highlights within the numbers and further detail provided on the conference call indicated that at least some of this “miss” will be recognized during Q3. As such, we would not characterize Q2 results as disappointing. And while we have … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On ANADIGICS

Posted: 16 Aug 2011 08:35 AM PDT

We maintain our recommendation on ANADIGICS, Inc (NASDAQ:ANAD).
ANADIGICS recently reported weak results in the second quarter of 2011. ANADIGICS reported net sales of $35.6 million in the second quarter of 2011, down 18.1% sequentially and down 31.1% from a year ago. The results were in line with management's guidance and the Zacks Consensus Estimate of $36 million.
The sequential decline in the second quarter was primarily due to a decrease in shipments of one of the largest North American … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CIG’s 2Q Up Y/Y, Down Sequentially

Posted: 16 Aug 2011 08:35 AM PDT

Companhia Energetica de Minas Gerais (NYSE:CIG), known as CEMIG, reported encouraging results for the second quarter of 2011 as the company’s net income rose 29% year over year to R$523 million (US$328.9 million), due primarily to higher revenue in the quarter. However, the results, though robust, were 0.6% below the previous quarter’s income.
Revenue
Net revenue of the company escalated 11% year over year to R$3,820 million (US$2,402.5 million) and also registered a 5.4% sequential increase, due … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Navigate Accordingly Until Sense On Cents Returns

Posted: 16 Aug 2011 08:20 AM PDT

With a number of items on my calendar over the next few weeks, I am taking a sabbatical from Sense on Cents for the balance of the month.
While I may not be providing regular commentary, I hope you may want to avail yourself of some of the fabulous resources which I have collated here.
These links are integral to our efforts to help people 'navigate the economic landscape'. The links include the following:
1. Career Planning
2. Appearances on Fox and CNBC discussing FINRA, Goldman Sachs … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Concerned With Slow Growth In China, West

Posted: 16 Aug 2011 08:18 AM PDT

Tuesday, August 16, 2011
The potential for slower economic growth from China could limit the potential upside for Crude Oil. Slowing in the US and Europe have already cast their dark shadow over the Oil market, so the last thing the bull camp would like to see is China slow as well. Technically, prices have rebounded nicely since trading down to lows in the mid-70′s. Stout resistance lies ahead for prices at 90 and 92. Some traders may wish to consider possibly entering into a bear call spread, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EUR/GBP Price Action Suggests Further Correction Decline

Posted: 16 Aug 2011 08:17 AM PDT

Prev: Poor German GDP Weakens the Euro…(8/16)
EUR/GBP

Deep Corretion:- After a strong push to the upside yesterday, the market stalled after cracking the 0.8820 highs. The next bullish target in the near-term was the 0.8850 area.
- However, after disappointing GDP data from Germany and the Eurozone, and the UK inflation report, we saw the EUR/GBP stumble.
- After a brief bullish attempt in the US session, there is a strong engulfing candle seen in the 1H chart.
- This suggests the bullish … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDJPY Back Below The 100 Hour MA

Posted: 16 Aug 2011 08:13 AM PDT

The USDJPY has moved back below the 100 hour MA after failing to get above the trendline  (point 3 in chart above). The price is also below the trendline at the 76.71 level.   As outlined in an earlier post, the pair is at the lows for the pair, but for the price to go higher, dip buyers need some satisfaction. Failing to break above the trendline, was a clue to get out and traders sold for a chance another day.  NOw with the price below the 76.75 100 hour MA level, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mixed Vs. Rivals After Fitch Affirms U.S. AAA Rating

Posted: 16 Aug 2011 08:09 AM PDT

Forexpros – The U.S. dollar was mixed against most of its major counterparts on Tuesday, surrendering earlier gains as risk sentiment was boosted after ratings agency Fitch affirmed its U.S. AAA sovereign debt rating, while markets awaited a the results of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy. <br /><br />During U.S. morning trade, the greenback was higher against the euro, with EUR/USD shedding 0.29% to hit 1.4401.<br … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Bounces Off The 38.2% Days Retracement Level

Posted: 16 Aug 2011 08:03 AM PDT

The USDCHF has move sharply higher in two separate legs higher today. The second leg fell below its 38.2% retracement of the move higher at the 0.7905 level (see chart above).  This led to a sharp selling which took the pair down to the 38.2% of the entire move higher from the low at 0.7771 and the high at 0.79368.  That level came in at 0.7873 and this is where buyers reemerged.

The topside resistance now comes in at the 0.7912 to 0.7922 level which led to a gap higher yesterday … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Despite Weak US Sales, Wal-Mart Posts Strong 2Q Earnings

Posted: 16 Aug 2011 08:00 AM PDT

08/16/11 Wal-Mart Stores Inc. reported better-than-expected 2Q earnings Tuesday which were fueled by expense cutting and improved international … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Futures Drop Over 2% To Hit 1-week Low

Posted: 16 Aug 2011 07:56 AM PDT

Forexpros – Natural gas futures were down sharply on Tuesday, falling below the psychologically important USD4.00 level as moderating weather forecasts in the U.S., easing fears over a disruption to supplies and concerns over rising production levels dragged down prices. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD3.936 per million British thermal units during U.S. morning trade, plunging … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPJPY Tests 200 Hour MA And 38.2% Retracement

Posted: 16 Aug 2011 07:45 AM PDT

The GBPJPY is pushing against the 200 hour MA and the 38.2% of the move down from the August 4th high to the low reached on August 10th.  This is a key level for the pair. A move above the target resistance next targets the trendline resistance at the 1.2655 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Trades Above 1.6400 On Strong CPI Data, Fitch

Posted: 16 Aug 2011 07:37 AM PDT

Forexpros – The pound climbed to a six-day high against the U.S. dollar on Tuesday, erasing earlier losses as stronger-than-expected U.K. inflation data reduced prospects for further monetary stimulus, while sentiment was boosted after ratings agency Fitch affirmed its U.S. AAA sovereign debt rating.&nbsp;&nbsp;&nbsp; <br /><br />GBP/USD pulled back from 1.6322, the daily low, to hit 1.6407 during U.S. morning trade, up 0.09% on the day.<br /><br />Cable … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Takes Another Step Higher

Posted: 16 Aug 2011 07:34 AM PDT

The USDCHF has taken another step higher. Support should now come in at the 0.7905 area which is the 38.2% of the last led to the upside.  Next upside target is the 0.7956 level.
The pair has now moved from a low of 0.7776 in the NY session to the high at … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Trims Losses As Fitch Affirms U.S. AAA Rating

Posted: 16 Aug 2011 07:24 AM PDT

Forexpros – The euro bounced off the daily low against the U.S. dollar on Tuesday, paring losses suffered in the wake of weak German growth data, after ratings agency Fitch affirmed its U.S. AAA sovereign debt rating. <br />&nbsp;<br />EUR/USD pulled back from 1.4353 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.4412, still down 0.22% on the day.<br /><br />The pair was likely to find support at 1.4149, the low of August 12 and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Sliding Output Concerns Central Bankers

Posted: 16 Aug 2011 07:22 AM PDT

Anemic European growth and concerned central bankers facing a void of policy options ahead of them helped shift sentiment in to reverse gear on Tuesday. Further evidence of a weakening U.S. economy once again cast a light on bullish investors proving them to be the contrarians.
U.S. Dollar – Economic weakness resonated within today's housing market data on a day when European investors expressed surprise in just how weak their own economy was during the second quarter. U.S. housing starts … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.S. Industrial Production Resumes Growth

Posted: 16 Aug 2011 06:53 AM PDT

The Federal Reserve released its monthly report on industrial production this morning, with the following highlights:

 1. At an index level of 94.2, industrial production in July was at the highest monthly level since August of 2008, almost three years ago (see chart above).

2.  Over the last year, industrial production has increased by 3.7%, and over the last three months industrial production has increased by 6% at an annual rate. 

3. On a monthly basis, industrial … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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