Friday, September 30, 2011

DailyMarkets.com - Chipotle Reaffirmed At Neutral

DailyMarkets.com - Chipotle Reaffirmed At Neutral

Chipotle Reaffirmed At Neutral

Posted: 30 Sep 2011 07:40 AM PDT

We are maintaining our long-term Neutral recommendation on fast food restaurant chain operator, Chipotle Mexican Grill Inc (CMG).
Chipotle's second quarter 2011 results missed the Zacks Consensus Estimate due to higher food costs and legal expenses. During the second quarter of 2011, restaurant operating margin declined 110 basis points (bps) for the second time on a year-over-year basis due to a 250-bp rise in commodity costs.
In the reported quarter, operating margin also plunged 140 bps … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bohai Reports Significant Top Line And Bottom Line Increase For Fiscal 2011

Posted: 30 Sep 2011 07:35 AM PDT

Bohai Reports Significant Top Line And Bottom Line Increase For Fiscal 2011
Grant Zeng, CFA

On September 29, 2011, Bohai Pharmaceutical Group Inc. (BOPH) reported financial results for the twelve months ended June 30, 2011.

Revenue for the fiscal year ended June 30, 2011 increased 37.2% to $81.3 million as compared to $59.3 million for the fiscal year ended June 30, 2010. This increase was primarily due to a 28.3% increase in the Company’s four lead products (Lung Nourishing Syrup, Tongbi … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cyberonics Stays Neutral

Posted: 30 Sep 2011 07:35 AM PDT

We recently reiterated our Neutral recommendation on Cyberonics (NASDAQ:CYBX) with a target price of $29.00, following our assessment of its first quarter 2012 results.
Cyberonics reported first quarter 2012 EPS of 28 cents, which surpassed the Zacks Consensus Estimate of 26 cents and was 12% higher than the year-ago quarter's adjusted EPS.
Cyberonics develops and markets Vagus Nerve Stimulation (VNS) Therapy System, which is approved by the US Food and Drug Administration (FDA) for the treatment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Medco-Celesio Terminate JV

Posted: 30 Sep 2011 07:35 AM PDT

Medco Health Solutions (NYSE:MHS) and Germany based Celesio AG terminated their pan-European joint venture, which came into existence in June 2010. Effective September 30, 2011, Medco will act as the 100% ownerof this project after the acquisitionof Celecio’s 50% stake. However, the financial and other terms of the termination agreement were not disclosed.
We expect this move to be a hindrance for Medco in achieving its goal of gaining traction in the European market. Projecting huge … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Breaks Through Resistance At 1.5567

Posted: 30 Sep 2011 07:29 AM PDT

The 38.2% of the days trading range and the 200 hour MA both converged at the 1.5567 level. The price initially found resistance at the level but has since pushed through. Now the 1.5560-67 is support for the pair.
The 100 hour MA comes in a the 1.5603 level. That will be a target resistance area  for the pair … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Stalling At Support But Markets Downside Bias Remains

Posted: 30 Sep 2011 07:05 AM PDT

The EURUSD has stalled between support at hte 1.3407-27 (low reached 1.3423), but the correction high has been tame with the high correction at 1.3444. Stocks are down 107 points. Nasdaq is down 36 and S& P is down 15 points 
Resistance should be between 1.3459 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Mills Plans Expansion

Posted: 30 Sep 2011 07:05 AM PDT

General Mills Inc.'s (NYSE:GIS) premium ice cream brand Haagen-Dazs revealed its plans to  expand its presence in Philippines by the franchising route. The company is set to add another five to ten stores in Metro Manila region, and thus capture a larger area in the ice-cream market in near future.
The company already has 10 shops existing in the capital, and now is  focusing more on enriching its network through tapping franchise partners.
The super-premium ice cream brand … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Novartis Shares More Positive Data

Posted: 30 Sep 2011 07:05 AM PDT

Novartis AG (NYSE:NVS) recently reported positive data from late-stage trials on pipeline candidate, NVA237, being studied for the treatment of chronic obstructive pulmonary disease (COPD). The data were presented at the European Respiratory Society (ERS) congress.
The GLOW1 and GLOW3 studies demonstrated that patients who were given NVA237 experienced significantly increased lung function, a fast onset of action at first dose, as well as improved exercise endurance, as compared with placebo.
In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down On U.S. Data

Posted: 30 Sep 2011 07:05 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Chicago PMI.

EUR/USD was trading at 1.3440, down 1.16% at time of writing.

The pair was likely to find support at 1.3364, Monday's low, and resistance at 1.3690, Wednesday's high.

Earlier in the day, data showed that The U.S.'s Chicago PMI rose unexpectedly to a seasonally adjusted 60.4 last month from 56.5 in the preceding month.

Analysts had expected the Chicago PMI to fall to 56.0 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chicago PMI Rises Unexpectedly

Posted: 30 Sep 2011 06:55 AM PDT

Forexpros – The U.S.'s Chicago PMI rose unexpectedly last month, data showed on Friday.

In a report, research group Kingsbury International said that the Chicago PMI rose to a seasonally adjusted 60.4, from 56.5 in the preceding month.

Analysts had expected the Chicago PMI to fall to 56.0 last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Trading At Support Area.

Posted: 30 Sep 2011 06:39 AM PDT

The 1.3427 level was the Feb 2011 low. The 1.3407 level is the 50% of the move up from June 2010 low.  The market decline is stalling at the area. The topside will be watching 1.3459 and 1.3472 (38.2% of the move down from the last intraday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Advanced Micro Devices, The Blackstone Group L.P., Citigroup, DaVita, Family Dollar Stores, Harleysville Group, Netease.com, Perfect World Co., Ltd., Rite Aid Corporation

Posted: 30 Sep 2011 06:35 AM PDT

    Share prices of commercial insurer Harleysville Group Inc. (NASDAQ:HGIC) rocketed up 87.06% to $58.96 after Nationwide Mutual Insurance Co. announced its decision to buy Harleysville for $1.63 billion

    Analysts at Citi (NYSE:C) downgraded shares of dialysis-center operator DaVita Inc. (NYSE:DVA) from “Buy” rating to “Hold” rating

    Shares of Family Dollar Stores Inc. (NYSE:FDO) dropped 4.35% after shareholder Nelson Peltz officially cancelled his $7.7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cognac Peeps Over China’s Wall

Posted: 30 Sep 2011 06:35 AM PDT

The world's leading cognac makers, Hennessy, Remy Martin, Martell and Courvoisier, are eyeing their growth potential in newer markets for the 97% of the French spirit, which is exported each year, and take it into the promising lands of Vietnam, Taiwan and Russia.
Hennessy is rated as the biggest cognac player, and while LVMH, the world’s largest luxury goods group, owns 66% of its stake, the remaining 34% is owned by the world’s top spirits maker Diageo Plc.(NYSE:DEO), who boasts the Johnnie … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Personal Income Drops In August

Posted: 30 Sep 2011 06:35 AM PDT

The overall tone of news flow on this last day of the third quarter is on the negative side, which is perhaps a fitting send-off for an extremely tough quarter for the market. We have hot inflation readings from Europe and weak income growth in the U.S. At least we don’t have any negative headlines about Europe’s other problems this morning.

We got a modestly negative read from the August Personal Income and Outlays report this morning. Growth in Personal Income came in weaker than expected, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Roche Reports Positive Data

Posted: 30 Sep 2011 06:11 AM PDT

Roche Holdings Ltd. (RHHBY) reported positive data from a mid-stage trial on trastuzumab emtansine (T-DM1) in treatment-naïve patients with HER2-positive metastatic breast cancer. The phase II trial (TDM4450g) compared trastuzumab emtansine with the combination of Herceptin (trastuzumab) and chemotherapy (docetaxel).
The trial results demonstrated that treatment with trastuzumab emtansine led to a 41% decline in the risk of disease worsening or death in patients in the trastuzumab emtansine … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down On Economic Data

Posted: 30 Sep 2011 06:10 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Personal Spending.

EUR/USD was trading at 1.3465, down 0.98% at time of writing.

The pair was likely to find support at 1.3364, Monday's low, and resistance at 1.3690, Wednesday's high.

Earlier in the day, official data showed that U.S. personal spending rose to a seasonally adjusted 0.2% last month from 0.7% in the preceding month whose figure was revised down from 0.8%.

Analysts had … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

P&G Cuts Jobs & May Not Be Done

Posted: 30 Sep 2011 06:05 AM PDT

The world's leading manufacturer of consumer packaged foods, Procter & Gamble Company (NYSE:PG) has announced that it will cut cost by way of reducing its workforce. To achieve this end the retail giant has decided to slice off 10 to 15% of the senior managerial level.
The company has also revealed that there is possibility of further retrenchment in the near future. In August 2011, management revealed that the company needed to get costs under control, and because it also plans to expand … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

High-grade Gold Discovered At Mineral Ridge

Posted: 30 Sep 2011 06:05 AM PDT

High-grade gold discovered at Mineral Ridge
Steven Ralston, CFA

Golden Phoenix Minerals (GPXM) maintains a 30% interest in the Mineral Ridge property, which is being operated and explored by joint venture partner Scorpio Gold (SGN: TSX-V). In the course of Scorpio's exploration program, the Solberry Zone at the Mineral Ridge project was drilled to follow up on historical drill results that previously had intersected 1.5 to 3.0 meters of gold grading between 3.06 and 4.56 g/t.

Scorpio Gold … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

High-grade Gold Discovered At Mineral Ridge

Posted: 30 Sep 2011 06:05 AM PDT

High-grade gold discovered at Mineral Ridge
Steven Ralston, CFA

Golden Phoenix Minerals (GPXM) maintains a 30% interest in the Mineral Ridge property, which is being operated and explored by joint venture partner Scorpio Gold (SGN: TSX-V). In the course of Scorpio's exploration program, the Solberry Zone at the Mineral Ridge project was drilled to follow up on historical drill results that previously had intersected 1.5 to 3.0 meters of gold grading between 3.06 and 4.56 g/t.

Scorpio Gold … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Initiating Coverage Of FutureFuels (FF) At Outperform

Posted: 30 Sep 2011 06:05 AM PDT

Initiating coverage of FutureFuels (FF) at Outperform
Ian Gilson, CFA

We are initiating coverage of FutureFuels (FF) with an Outperform rating and a price target of $16.00.

FutureFuels is a manufacturer, seller and provider of specialty chemicals to the chemical industry. The company is also a producer of Biodiesel and biodiesel blends.

The company was formed in October 2006 by the acquisition of Eastman SE from Eastman Chemicals. FutureFuels was listed on the NYSE on March 8, 2011. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: MON

Posted: 30 Sep 2011 06:05 AM PDT

Monsanto Company (NYSE:MON) will be reporting its fourth-quarter and fiscal year 2011 financial result on Wednesday, October 5, 2011.
The current Zacks Consensus Estimate for earnings per share (EPS) is a negative 27 cents, representing an annualized decline of 202.22%.  
With respect to earnings surprises over the trailing four quarters, MON outperformedthe Zacks Consensus Estimate in three quarters while underperformed in one.  Average earnings surprise was 16.29%, implying that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

APD Secures 25% Stake In AHG

Posted: 30 Sep 2011 06:05 AM PDT

Air Products & Chemicals Inc. (NYSE:APD) is all set to acquire a 25% stake in the gases and equipment businesses of Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (NYSE:AHG), a privately-owned company by the Abdullah Hashim Group, Saudi Arabia. The financial terms of the deal are not yet disclosed.
Air Products and AHG have a long-standing relationship and currently operate two joint ventures. The first one is an on-site facility supplying oxygen and nitrogen for Shadeed Iron & … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Personal Spending Rises

Posted: 30 Sep 2011 05:40 AM PDT

Forexpros – U.S. personal spending rose last month, official data showed on Friday.

In a report, the Bureau of Economic Analysis said that personal spending rose to a seasonally adjusted 0.2%, from 0.8% in the preceding month.

Analysts had expected personal spending to rise 0.2% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian GDP Rises

Posted: 30 Sep 2011 05:40 AM PDT

Forexpros – Canadian gross domestic product rose last month, official data showed on Friday.

In a report, Statistics Canada said that GDP rose to a seasonally adjusted 0.3%, from 0.2% in the preceding month.

Analysts had expected GDP to rise 0.3% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Up On Economic Data

Posted: 30 Sep 2011 05:40 AM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of Canadian data on GDP.

USD/CAD was trading at 1.0427, up 0.63% at time of writing.

The pair was likely to find support at 1.0144, Tuesday's low, and resistance at 1.0464, today's high.

Earlier in the day, official data showed that Canadian gross domestic product rose to a seasonally adjusted 0.3% last month from 0.2% in the preceding month.

Analysts had expected GDP to rise 0.3% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Federated Reiterated Underperform

Posted: 30 Sep 2011 05:35 AM PDT

We have maintained our Underperform recommendation on Federated Investors Inc. (NYSE:FII) based on second-quarter 2011 earnings results. The results were in line with the Zacks Consensus Estimate and were below the prior-year quarter and prior quarter earnings.
In July, Federated's second-quarter 2011 earnings came in at 41 cents per share, in line with the Zacks Consensus Estimate, and below the year-ago quarter's earnings of 46 cents. Moreover, this compares unfavorably with the earnings of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NSN Obtains Parent Funds

Posted: 30 Sep 2011 05:35 AM PDT

Nokia Siemens Networks (NSN), a 50-50 joint venture between Nokia Corp. (NYSE:NOK) and Siemens AG (NYSE:SI), finally received its much needed fund injection from its parent companies. Yesterday, the company announced that both Nokia and Siemens will inject Euro 500 million (approximately $683 million) each to complete the company's proposed business restructuring plan. In August 2011, a German Newspaper Capital recently reported that NSN is also trying hard to issue a high-yield bond of Euro 2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Down During The European Session

Posted: 30 Sep 2011 05:00 AM PDT

Forexpros – The Euro was lower against the British Pound on Friday.

EUR/GBP was trading at 0.8662, down 0.44% at time of writing.

The pair was likely to find support at 0.8650, today's low, and resistance at 0.8740, Wednesday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.75% to hit 1.3496 and EUR/JPY falling 0.62% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/CHF Up In European Trade

Posted: 30 Sep 2011 04:30 AM PDT

Forexpros – The British Pound was higher against the Swiss Franc on Friday.

GBP/CHF was trading at 1.4067, up 0.34% at time of writing.

The pair was likely to find support at 1.3974, Wednesday's low, and resistance at 1.4126, Monday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.30% to hit 1.5580 and EUR/GBP falling 0.54% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Down In European Trading Hours

Posted: 30 Sep 2011 04:00 AM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Friday.

AUD/USD was trading at 0.9723, down 0.60% at time of writing.

The pair was likely to find support at 0.9622, Monday's low, and resistance at 0.9986, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.13% to hit 1.3884 and AUD/JPY falling 0.61% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down During European Trade

Posted: 30 Sep 2011 03:35 AM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5592, down 0.23% at time of writing.

The pair was likely to find support at 1.5432, Monday's low, and resistance at 1.5716, Thursday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.46% to hit 0.8660 and GBP/JPY falling 0.24% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Real Estate: Location, Location And Who You Buy From

Posted: 30 Sep 2011 03:27 AM PDT

… [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Chicago PMI Rises Unexpectedly

Posted: 29 Sep 2011 08:02 PM PDT

By ForexMansion.com
Forexpros – The U.S.'s Chicago PMI rose unexpectedly last month, data showed on Friday.
In a report, research group Kingsbury International said that the Chicago PMI rose to a seasonally adjusted 60.4, from 56.5 in the preceding month.
Analysts had expected the Chicago PMI to fall to 56.0 last month.
Forexpros

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/USD Down On Economic Data

Posted: 29 Sep 2011 07:33 PM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the U.S. Dollar on Friday after the release of U.S. data on Personal Spending.
EUR/USD was trading at 1.3465, down 0.98% at time of writing.
The pair was likely to find support at 1.3364, Monday's low, and resistance at 1.3690, Wednesday's high.
Earlier in the day, official data showed that U.S. personal spending rose to a seasonally adjusted 0.2% last month from 0.7% in the preceding month whose figure was revised down from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USD/CAD Up On Economic Data

Posted: 29 Sep 2011 07:03 PM PDT

By ForexMansion.com
Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of Canadian data on GDP.
USD/CAD was trading at 1.0427, up 0.63% at time of writing.
The pair was likely to find support at 1.0144, Tuesday's low, and resistance at 1.0464, today's high.
Earlier in the day, official data showed that Canadian gross domestic product rose to a seasonally adjusted 0.3% last month from 0.2% in the preceding month.
Analysts had expected GDP to rise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Personal Spending Rises

Posted: 29 Sep 2011 07:03 PM PDT

By ForexMansion.com
Forexpros – U.S. personal spending rose last month, official data showed on Friday.
In a report, the Bureau of Economic Analysis said that personal spending rose to a seasonally adjusted 0.2%, from 0.8% in the preceding month.
Analysts had expected personal spending to rise 0.2% last month.
Forexpros

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian GDP Rises

Posted: 29 Sep 2011 07:03 PM PDT

By ForexMansion.com
Forexpros – Canadian gross domestic product rose last month, official data showed on Friday.
In a report, Statistics Canada said that GDP rose to a seasonally adjusted 0.3%, from 0.2% in the preceding month.
Analysts had expected GDP to rise 0.3% last month.
Forexpros

About ForexMansion.com:

The Finance Mansion Network operates a global financial network of websites including
ForexMansion.com – All about Forex Trading.
Our goal is to provide our readers with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EUR/GBP Down During The European Session

Posted: 29 Sep 2011 06:02 PM PDT

By ForexMansion.com
Forexpros – The Euro was lower against the British Pound on Friday.
EUR/GBP was trading at 0.8662, down 0.44% at time of writing.
The pair was likely to find support at 0.8650, today's low, and resistance at 0.8740, Wednesday's high.
Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.75% to hit 1.3496 and EUR/JPY falling 0.62% to hit 103.84.
Forexpros

About ForexMansion.com:

The Finance Mansion Network operates a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/CHF Up In European Trade

Posted: 29 Sep 2011 05:32 PM PDT

By ForexMansion.com
Forexpros – The British Pound was higher against the Swiss Franc on Friday.
GBP/CHF was trading at 1.4067, up 0.34% at time of writing.
The pair was likely to find support at 1.3974, Wednesday's low, and resistance at 1.4126, Monday's high.
Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.30% to hit 1.5580 and EUR/GBP falling 0.54% to hit 0.8653.
Forexpros

About ForexMansion.com:

The Finance Mansion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GBP/USD Down During European Trade

Posted: 29 Sep 2011 05:02 PM PDT

By ForexMansion.com
Forexpros – The British Pound was lower against the U.S. Dollar on Friday.
GBP/USD was trading at 1.5592, down 0.23% at time of writing.
The pair was likely to find support at 1.5432, Monday's low, and resistance at 1.5716, Thursday's high.
Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.46% to hit 0.8660 and GBP/JPY falling 0.24% to hit 119.80.
Forexpros

About ForexMansion.com:

The Finance Mansion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD Down In European Trading Hours

Posted: 29 Sep 2011 05:02 PM PDT

By ForexMansion.com
Forexpros – The Australian Dollar was lower against the U.S. Dollar on Friday.
AUD/USD was trading at 0.9723, down 0.60% at time of writing.
The pair was likely to find support at 0.9622, Monday's low, and resistance at 0.9986, Tuesday's high.
Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.13% to hit 1.3884 and AUD/JPY falling 0.61% to hit 74.71.
Forexpros

About ForexMansion.com:

The Finance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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