Tuesday, September 13, 2011

DailyMarkets.com - Credit Line For Hospitality Properties

DailyMarkets.com - Credit Line For Hospitality Properties

Credit Line For Hospitality Properties

Posted: 13 Sep 2011 12:05 PM PDT

Hospitality Properties Trust (NYSE:HPT), a real estate investment trust (REIT), has recently obtained a new unsecured revolving credit facility worth $750 million that is scheduled to mature in September 2015. The new credit facility replaced the existing unsecured revolving credit facility of the same amount that was due to mature in October 2011.
The new credit facility has an accordion feature, whereby the borrower could extend the maturity date by a year. The company could also increase the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dell Inks OEM And Storage Deals

Posted: 13 Sep 2011 12:05 PM PDT

Dell Inc. (NASDAQ:DELL) recently announced that a range of hardware including servers from Dell OEM Solutions will be deployed by Tripleplay Services, a leading provider of Internet Protocol television (IPTV), Video Streaming and Digital Signage solutions. Financial terms of the deal were not divulged.
Tripleplay Services' IP media solutions are designed to meet the needs of closed communities, including corporate, education, hospitality, health and residential accommodation.
Tripleplay's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Conoco To Prevent Peng Lai Leak

Posted: 13 Sep 2011 12:05 PM PDT

ConocoPhillips China Inc., a Chinese affiliate of ConocoPhillips (NYSE:COP) got the nod from its partner CNOOC Limited (NYSE:CEO) to advance with depressurization and sealing plans to check sources of leakage in the Peng Lai 19-3 Field. These preventive measures were called for by the State Oceanic Administration of People's Republic of China (SOA).
The latest plan was put in action after the Chinese government gave an order to halt production at the fields to stop any further environmental damage … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Watching The GIIPS

Posted: 13 Sep 2011 11:40 AM PDT

Cusick’s Corner
This is one of those markets that’s a headline away from being north or south. The EU is playing a game of who will be allowed to fail or not (sounds so 2008) but the great part of that scenario, if there is one, we have seen that movie before. The Banks at this stage are better capitalized and have the backing of every major government. Geithner is lobbying the Germans as I write, so if and when this happens, Financials will be the benefactor (full disclosure I am positioned in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Developers Diversified Re-brands

Posted: 13 Sep 2011 11:35 AM PDT

As part of the strategic move to better mirror the simplified operating metrics of the company, which focus primarily on open-air, value-oriented shopping centers, Developers Diversified Realty Corporation (NYSE:DDR), a real estate investment trust (REIT), has recently initiated a new re-branding project.
Moving forward, the company has rechristened itself as DDR Corp., in line with its ticker symbol on the New York Stock Exchange as the official brand name. The company has also changed its logo, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Loses 10 Rigs Over The Week

Posted: 13 Sep 2011 11:35 AM PDT

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a dip in the U.S. rig count (number of rigs searching for oil and gas in the country). This can be primarily attributed to a decrease in the tally of land rigs.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN) and Helmerich … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On Economic Data

Posted: 13 Sep 2011 11:15 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday after the release of U.S. data on Federal Budget Balance.

EUR/USD was trading at 1.3719, up 0.29% at time of writing.

The pair was likely to find support at 1.3500, Monday's low, and resistance at 1.4089, Thursday's high.

Earlier in the day, official data showed that The U.S. federal budget balance fell unexpectedly to a seasonally adjusted -134.2B last month from -129.4B in the preceding month.

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

U.S. Federal Budget Balance Falls Unexpectedly

Posted: 13 Sep 2011 11:10 AM PDT

Forexpros – The U.S. federal budget balance fell unexpectedly last month, official data showed on Tuesday.

In a report, Department of the Treasury said that U.S. federal budget balance fell to a seasonally adjusted -134.2B, from -129.4B in the preceding month.

Analysts had expected U.S. federal budget balance to rise to -126.5B last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hess, Niko In Indonesian Venture

Posted: 13 Sep 2011 11:02 AM PDT

Hess Corporation (NYSE:HES) has entered into a joint venture agreement with Canadian explorer Niko Resources Ltd. for the development of an Indonesia project. The contract is pending approval from the Indonesian government and the companies did not disclose any financial terms.
The deal calls for both the parties to jointly develop the Kofiau Production Sharing Contract, off Indonesia. Per the agreement, Niko will enjoy the operatorship of Kofiau with a 57.5% stake, while Hess will hold the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AT&T To Launch Mango 4G Devices

Posted: 13 Sep 2011 10:50 AM PDT

The second largest U.S. wireless provider AT&T Inc. (NYSE:T) intends to launch three new 4G phones from Samsung and HTC.
Focus S and Focus Flash from Samsung and HTC Titan are slated for a fourth quarter release. The handsets will operate on Microsoft (NASDAQ:MSFT) Windows Phone 7.5 Mango software.
Additionally, AT&T plans to upgrade its existing Windows Phone 7 devices to Mango this fall. This would make the company the first carrier to update its existing phones.
AT&T currently delivers … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Air Products Expands Korea Plant

Posted: 13 Sep 2011 10:50 AM PDT

Air Products & Chemicals Inc. (NYSE:APD), a company serving customers in technology, energy, healthcare and industrial markets worldwide, has planned to increase the production capacity of nitrogen trifluoride (NF3) by expanding its Ulsan, Korea facility. The new capacity is anticipated to start operations in the latter half of 2012.
For over 30 years, the company has been producing and distributing NF3, as it has realized the potential of the product. There is an increasing demand for NF3 in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The U.S. Session

Posted: 13 Sep 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday.

USD/JPY was trading at 76.85, down 0.47% at time of writing.

The pair was likely to find support at 76.76, Monday's low, and resistance at 77.86, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.33% to hit 1.3725 and GBP/USD falling 0.27% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Invesco’s August AUM Plunges

Posted: 13 Sep 2011 10:35 AM PDT

Invesco Ltd. (NYSE:IVZ) reported its preliminary month-end assets under management (AUM) for the month of August 2011. Its AUM for the reported month dropped 3.6% to $629.4 billion from $652.8 billion at the end of July 2011, mainly due to the effects of negative market returns. Also, the foreign exchange lowered the AUM by $1.5 billion during the month under review.
Invesco's preliminary AUM, excluding Exchange Traded Funds (ETFs), Unit Investment Trust (UIT) and passive funds, stood at $538.2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Top Appointment At Body Central

Posted: 13 Sep 2011 10:35 AM PDT

Body Central Corp. (BODY) recently announced the appointment of Tom Stoltz as its executive vice president, chief financial officer (CFO) and treasurer effective September 26. Stoltz, who served some leading names in retail earlier, succeeds Richard L. Walters, who is no longer with the company.
Tom Stoltz will report to Allen Weinstein, president and chief executive officer of the company and will be in charge of all financial issues including corporate finance, financial planning and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Still Some Fallout…worst Case EU Scenario”

Posted: 13 Sep 2011 10:16 AM PDT

09/13/11 Meridian Equity Partners’ Stephen Guilfoyle weighs in on the euro zone debt crisis and FOMC … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Progress Energy Raises Debt

Posted: 13 Sep 2011 10:10 AM PDT

Power utility company  Progress Energy Inc. (NYSE:PGN) issued $500 million first mortgage bonds yielding 3.0% interest per year and maturing on September 15, 2021. The company has received a secure rating of 'A1' from Moody’s Investors Service, 'A' from Standard & Poor’s and 'A+' from Fitch Ratings for the new issue.
The offer price was $99.828 for the bonds (per $100.00 principal). The company intends to utilize the proceeds of the issue to repay short-term borrowings.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Higher; Dax Up 1.35%

Posted: 13 Sep 2011 10:05 AM PDT

Forexpros – European stocks were up after the closing bell on Tuesday.

At the close of European trade, Germany's DAX rose 1.35%, London's FTSE 100 gained 0.87%, France's CAC 40 climbed 1.41% and the EURO STOXX 50 was up 2.09%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.19%; the S&P 500 index gained 0.68%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Volatility Throughout The Forex Markets On Mixed European Signals

Posted: 13 Sep 2011 10:00 AM PDT

09/13/11 The euro has experienced a rollar coaster trading session as mixed reports concerning a greek default, eurozone intervention, and the purchase of Italian bonds has kept the euro fluctuating all … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alliant Adds New Product Line

Posted: 13 Sep 2011 09:55 AM PDT

Alliant Techsystems Inc. (NYSE:ATK) said that it is partnering a Polish company for selling energetic products (explosives) manufactured by that company. Alliant has signed a long-term international distribution deal with Zaklady Chemiczne, also known as Nitro-Chem. 
This deal will combine Alliant's expertise in supply chain management and worldwide marketing and distribution of energetic materials with Nitro-Chem’s unique manufacturing capabilities.
Under the deal, Alliant will sell … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

McGraw-Hill Intent To Boost Value

Posted: 13 Sep 2011 09:55 AM PDT

With intent of boosting the shareholders value The McGraw-Hill Companies Inc (NYSE:MHP), recently announced extensive growth and value measures, including the separation of the company into two independent companies, McGraw-Hill Markets and McGraw-Hill Education.
Since last year, the company has been reviewing its business segments and the call was obvious as the company lost a substantial market value in last 5 years and its rating agency was under fire for its latest U.S. downgrade.
Moreover, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Broadcom Eyes NetLogic

Posted: 13 Sep 2011 09:55 AM PDT

Leading chipmaker Broadcom Corporation (NASDAQ:BRCM) recently announced that it will acquire NetLogic Microsystems or $3.7 billion or $50 per share.
Headquartered in Santa Clara, California, NetLogic develops high-performance intelligent semiconductor solutions that power next-generation Internet networks.
The transaction is expected to close in the first half of 2012. Broadcom expects the acquisition to be accretive to its bottom-line by approximately $0.10 (excluding onetime items) in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Merkel, Sarkozy Conference Tomorrow Key For Greece And EUR

Posted: 13 Sep 2011 09:52 AM PDT

The euro, which had been sold off at the end of last week, has finally found some stabilization as we move through Tuesday's New York trading session.
Overnight, risk aversion seemed likely to be a major theme as Italy's yields jumped yet again, with the 10-year hitting 5.75% at one point, and coincided with an Italian auction of 5-year debt that showed weaker than expected demand and higher borrowing costs for Italy's government.

However overnight we also had positive development in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nordstrom Stays Neutral

Posted: 13 Sep 2011 09:36 AM PDT

We have maintained our long-term Neutral recommendation on Nordstrom Inc. (NYSE:JWN) with a target price of $47.00 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term Hold rating on the stock.
Nordstrom is one of the leading players in the extremely fragmented specialty retail sector. The company offers a broad array of over 500 brands, targeted toward the entire family, through a strong nationwide network of 204 stores situated across 28 states.
The company has a strong … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Still Neutral On Principal Financial

Posted: 13 Sep 2011 09:36 AM PDT

Principal Financial Group Inc. (NYSE:PFG) continues to post solid growth in assets under management. Also, the company continues to effectively deploy $1 billion of capital.  Moreover, Principal Financial scores strongly with the credit rating agency.
However, volatility in the financial markets and Principal's investment portfolio exposure to commercial real estate are partial offsets. Thus we remain Neutral on the company.
Principal posted a 12% growth in assets under management in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Roche Seeks Approval For BCC Drug

Posted: 13 Sep 2011 09:36 AM PDT

Roche Holdings Ltd. (RHHBY) recently announced that it submitted New Drug Application (NDA) with the US Food and Drug Administration (FDA) seeking approval of vismodegib for the treatment of patients with advanced basal cell carcinoma (BCC) whose lesions could not be operated, or for whom surgery would result in substantial deformity.
The NDA submission by Roche was based on results from the ERIVANCE BCC study. The study, which reported data in June 2011, enrolled 104 patients with advanced … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tenet Lowers Earnings Expectation

Posted: 13 Sep 2011 09:36 AM PDT

Yesterday, Tenet Healthcare Corp. (NYSE:THC) announced reduced earnings projections for the rest of 2011. Accordingly, the company's 2011 earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be toward the lower end of the previously announced guideline of $1.175–$1.275 billion. Additionally, EBITDA for the third quarter of 2011 is expected to be almost at par with $203 million in the year-ago quarter.
The reduced expectations are a result of an increase in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Best Buy Misses Estimate

Posted: 13 Sep 2011 09:05 AM PDT

Best Buy Company Inc. (NYSE:BBY), the leading specialty retailer of consumer electronic products, recently posted weaker-than-expected second-quarter 2012 results. The quarterly earnings of 47 cents a share missed the Zacks Consensus Estimate of 53 cents and plunged 21.7% from 60 cents earned in the prior-year quarter.
The Zacks Consensus Estimate inched down a penny prior to the earnings release with 6 of the 19 analysts covering the stock revising their estimates downwards over the last 7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

30K BofA Workers Get The Axe

Posted: 13 Sep 2011 09:05 AM PDT

In a statement released on Monday, Bank of America Corp. (NYSE:BAC) confirmed its plan to retrench about 30,000 workers under the first phase of its ongoing cost-cutting initiative –– Project New BAC. This will reduce BofA's 288,000 work force by 10%. According to the company, many of these layoffs are expected to come through attrition and elimination of unfilled positions.
Including this workforce reduction, the full implementation of Phase I of the new program is expected to lop off about … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pepsi Severs Ties With Thai Bottler

Posted: 13 Sep 2011 09:05 AM PDT

Pepsico Inc. (NYSE:PEP), the leading soft drinks and beverage retailer has agreed to sell the 41.5% stake in Bangkok-based soft-drink maker and bottler, Serm Suk for $213 million. Thai Beverage (ThaiBev), a beverage alcohol company in South East Asia, supported Pepsico's plan by announcing its offer to buy Serm Suk for $513 million.
Thai Beverage owns and distributes a number of brands including Chang beer, and Mekhong and Sang Som rum. It also has operations in Europe, producing malt Scotch … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Dynamics Gets Army Contract

Posted: 13 Sep 2011 09:05 AM PDT

General Dynamics C4 Systems Inc., a business unit of General Dynamics Corporation (NYSE:GD) was awarded a contract for the Common Hardware Systems-4 (CHS-4) program by the U.S. Army Contracting Command – Aberdeen Proving Ground, Maryland. 
The competitively awarded 5-year indefinite-delivery, indefinite-quantity contract has a maximum potential value of $3.7 billion if all options are exercised. The first delivery order issued under the contract is worth $5.3 million. General Dynamics … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Covidien Unfolds FY12 View

Posted: 13 Sep 2011 09:05 AM PDT

Leading healthcare products maker Covidien plc (NYSE:COV) has revealed its financial forecast for fiscal 2012. In a recent investor meet, the Ireland-based company stated that it envisages net sales for the year to leap 3%-5% year over year (assuming current foreign exchange rates).
This indicates a slowdown from the company's current expected sales growth of 8%-11% in fiscal 2011. The current Zacks Consensus Estimates for revenues for fiscal 2011 and fiscal 2012 are $11.53 billion and $12.04 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Smithfield

Posted: 13 Sep 2011 09:05 AM PDT

On September 8, 2011, the world's largest pork and hog producer, Smithfield Foods Inc. (NYSE:SFD) announced its financial results for the first quarter of 2012.
Earnings Review
Smithfield posted adjusted earnings of 69 cents per share for the first quarter of fiscal 2012, which surpassed the Zacks Consensus Estimate of 68 cents by 1.47%.
The record increase in pro-forma earnings for the fifth consecutive quarter was driven by strong packaged meats earnings in spite of higher raw material … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDA Okays IsoRay’s GliaSite

Posted: 13 Sep 2011 09:05 AM PDT

IsoRay Inc (ISR), which makes the Cesium-131 internal radiation therapy (brachytherapy) isotope, has secured the green signal of the U.S. Food and Drug Administration ("FDA") for its GliaSite radiation therapy system, a balloon catheter used in treating brain cancer. The Washington-based company's shares spiked 21% following the news on September 12.
IsoRay had acquired the exclusive global distribution rights to GliaSite from Hologic Inc (NASDAQ:HOLX) in June 2010. The company, in June … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Wanders Back Higher

Posted: 13 Sep 2011 08:41 AM PDT

Toyota Motor Faces Downgrade

Posted: 13 Sep 2011 08:41 AM PDT

Recently, Fitch Ratings downgraded Toyota Motor Corporation's (NYSE:TM) debt owing to the company's structural shortcomings mostly related to currency fluctuations. Fitch also lowered Toyota Motor’s senior unsecured debt and its long-term foreign and local currency issuer default ratings to "A" from "A+" issuer. However, the ratings agency maintained its "Stable" outlook on the company.
The most crucial reason for the downgrade was the company's expansive exposure to foreign … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hyatt Renews Credit Facility

Posted: 13 Sep 2011 08:41 AM PDT

Hyatt Hotels Corporation (H) recently announced that it has renewed and extended its unsecured revolving credit facility. The company has renewed its credit facility with a consortium of key relationship banks.
The renewed credit facility will expand the company's borrowing capacity by $370 million to $1.5 billion and also extend the maturity date of the company's revolving credit facility from 2012 to 2017.
Under a revolving credit facility, a company can borrow again once it repays all … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Integra Eyes Orthopedics Company

Posted: 13 Sep 2011 08:41 AM PDT

Medical devices maker, Integra LifeScience Holdings Corporation (NASDAQ:IART) recently signed an agreement to acquire Ascension Orthopedics, Inc, for approximately $65 million in cash (subject to adjustment). Based in Texas, Ascension primarily manufactures innovative foot, hand and shoulder implants. Integra expects to close the deal by the end of September, subject to customary closing conditions.
Post acquisition, Ascension products are expected to represent approximately 45% of Integra’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

InterMune’s Esbriet To Launch In EU

Posted: 13 Sep 2011 08:40 AM PDT

InterMune Inc.(NASDAQ:ITMN) recently announced that its lead drug Esbriet (pirfenidone), indicated for the treatment of idiopathic pulmonary fibrosis (IPF), will be launched in Germany on September 15, 2011. Germany will be the first country to witness the launch of Esbriet, which received marketing approval in the European Union (EU) in March 2011.
Management estimates that there are approximately 13,000 to 17,000 patients with mild to moderate IPF in Germany. InterMune hopes to set a gross … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Grainger August Sales Rise 10%

Posted: 13 Sep 2011 08:40 AM PDT

W.W. Grainger Inc. (NYSE:GWW) reported August sales growth of 10% on a year-over-year basis. Grainger continues to post double digit growth in sales. Favorable foreign exchange has added one percentage point to growth.
Excluding the impacts of foreign currency exchange rates, daily sales increased 9% during the reported month. Higher volume contributed 8 percentage points, better pricing contributed 3 percentage points and sales related to Hurricane Irene contributed one percentage point. However, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Raytheon Wins Korean Contract

Posted: 13 Sep 2011 08:40 AM PDT

Defense contractor Raytheon Company (NYSE:RTN) won a $65.5 million contract to deliver five Phalanx Block 1B Close-In Weapon Systems to the Korean Navy. The direct commercial sale calls for the systems to be installed on the 2,300-ton frigate-class ships starting in April 2013, and represents Phalanx’s largest sale to the Republic of Korea's naval fleet.
Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks and destroys enemy threats that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Checking On Market Internals For September 13

Posted: 13 Sep 2011 08:26 AM PDT

What are Market Internals revealing about the current position of the S&P 500?
Let's take a look at the current structure and make note of prior reversals via Market Internal Divergences:

Let's take the somewhat busy chart step-by-step for clarification.
What we're seeing is the 15-min S&P 500 Index with two different Market Internal gauges:

$ADD = NYSE Breadth (the number of advancing issues on the session minus declining issues)
$VOLD:  NYSE Volume Difference (Volume … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR/USD Bearishness Backs Off Support

Posted: 13 Sep 2011 08:06 AM PDT

EUR/USD (daily chart) as of Tuesday (9/13/2011) has reached and respected key support in the important 1.3500 price region, a round number psychological level that has served well as previous support and resistance in the past. This support bounce occurred just a few pips below the 1.3500 level, and hints at a potential pullback in the dramatic bearishness that has characterized this pair for the month of September thus far. Prior to the current bounce, this month's bearishness made a swift … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Rally With Storm Activity In Focus

Posted: 13 Sep 2011 08:02 AM PDT

Forexpros – Natural gas futures rallied to a three-day high on Tuesday, climbing above the psychologically important USD4.00-level as traders focused on storm activity in the Gulf of Mexico.

On the New York Mercantile Exchange, natural gas futures for October delivery traded at USD4.002 per million British thermal units during U.S. morning trade, rallying 3%.

It earlier rose as much as 3.1% to trade at USD4.018 per million British thermal units, the highest price since September 8.

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

Crude Rallies To Trade Near $90 On Speculation Of A Slide In Stockpiles

Posted: 13 Sep 2011 08:00 AM PDT

09/13/11 Front month crude prices experienced quite the rise this morning, trading near $90 a barrel, following a weaker dollar and speculation of a slide in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed As Euro Finds Support On Greece Hopes

Posted: 13 Sep 2011 07:59 AM PDT

Forexpros – The U.S. dollar was mixed against its major counterparts in volatile trade on Tuesday, while the euro found support amid signs of progress in resolving the sovereign debt crisis engulfing the single currency bloc.

During U.S. morning trade, the greenback dipped against the euro, with EUR/USD inching up 0.03% to hit 1.3683.

The euro erased losses earlier after German Chancellor Angela Merkel said she was "very optimistic" that Finland's demands for special collateral as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Off To Choppy Start, Amidst Euro Zone Jitters

Posted: 13 Sep 2011 02:50 AM PDT

09/13/11 US stocks saw choppy trading, as the latest economic data and developments in euro zone were digested. Best Buy slid on Q2 profit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AUD/USD: Consolidation Pivots And Breakout Projections

Posted: 13 Sep 2011 07:49 AM PDT

AUD/USD

The AUD/USD is consolidating this week after a slide from last week's pivot at 1.0660 to this week's low so far at 1.0255.
The 1H chart shows that this can be either a double bottom or a triangle formation.
If the market rallies directly above 1.0380, we have a double bottom.
If instead, it makes a lower high than before, and falls back toward 1.0280 and the finds a higher low, we have a triangle.
In both cases a break above 1.0380 is needed to open up further corrective … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Trims Losses But Remains Vulnerable

Posted: 13 Sep 2011 07:47 AM PDT

Forexpros – The pound trimmed losses against the U.S. dollar on Tuesday, pulling away from a seven-and-a-half month low, tracking the euro higher but sterling remained vulnerable amid speculation over fresh easing by the Bank of England.

GBP/USD pulled back from 1.5763, the pair's lowest since January 25, to hit 1.5811 during U.S. morning trade, still down 0.30% on the day.

Cable was likely to find short-term support at 1.5763, the days low and resistance at 1.5885, Monday's high.

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

Capital One Cash Credit Card – Is 50% Bonus Rewards Worth It?

Posted: 13 Sep 2011 07:35 AM PDT

The Capital One Cash Credit Card is a new rewards credit card issued by Capital One (NYSE:COF) for those of you who have excellent credit and want to earn rewards for every dollar you spend. Something I like about this MasterCard (NYSE:MA) is that it gives you a 50% anniversary bonus each year when you renew your card – a feature not commonly seen in most rewards cards. In this review of Capital One Cash credit card, I will give you a better idea of its main benefits and tell you what to watch out … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Erases Losses Against Dollar In Choppy Trade

Posted: 13 Sep 2011 07:34 AM PDT

Forexpros – The euro erased losses against the U.S. dollar in choppy trade on Tuesday, as the single currency found support amid signs of progress on resolving the sovereign debt crisis in the single currency bloc.

EUR/USD clawed back up from 1.3559, the daily low to hit 1.3690 during U.S. morning trade, easing up 0.09%.

The pair was likely to find support at 1.3493, Monday's low and a seven-month low and resistance at 1.3860, the high of February 2.

The euro was boosted after German … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia Adds To Wheat Woes

Posted: 13 Sep 2011 07:32 AM PDT

Tuesday, September 13th 2011
The fundamental outlook for Wheat seems to favor the bear camp at the moment, as the large Australian crop may increase global ending stocks. Corn’s impact on the Wheat market, however, cannot be discounted. Higher moves in Corn could not only shift overall grain sentiment, but also drive substitution demand for Wheat. Technically, Dec Wheat is at a fairly significant support level near 720. Traders may look to see how the market behaves in the coming sessions. If … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

All Attention Remains On Possibilty Of Greece Debt Default

Posted: 13 Sep 2011 02:30 AM PDT

09/13/11 NYFP’s Morning Market Report: Greece debt default concerns continue to grow, France denies reports of Franco-German initiative on Greece, rumors of Italian bond purchase by China shot down, & French inflation near 3-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Pare Gains, EU Debt Fears Support

Posted: 13 Sep 2011 07:29 AM PDT

Forexpros – Gold futures pared gains on Tuesday, pulling back from a daily high in volatile trade as markets continued to focus on the euro zone's sovereign debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,814.05 a troy ounce during U.S. morning trade, easing up 0.19%.

It earlier rose as much as 1.06% to trade at a daily high of USD1,836.15 a troy ounce.

Concerns over the euro zone's debt crisis remained in focus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Finds Resistance At The 1.3721 Area

Posted: 13 Sep 2011 07:17 AM PDT

The EURUSD extended to the upside and worked its way to the 1.3721 target area. This is the 38.2% of the last leg to the upside (see PRIOR POST).  The high came in at the 1.3725 level and has reverxed back lower. The price is back testing the 1.3700 level.
The successful test of the 38.2% raises eyebrows for the bears. However, the 100 hour MA is still a good distance away.  So look for dips toward 1.3668 area to find buyers (with tight stops below the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Demand For Safety Continues Following Italian Bond Sale

Posted: 13 Sep 2011 07:08 AM PDT

Fundamental Headlines
• Merkel Eschews 'Uncontrolled Greek Insolvency' – Bloomberg
• Obama May Limit Tax Breaks on Muni Bonds – Bloomberg
• Geithner Heads to Europe as Debt Fears Mount – Reuters
• Italy Under Pressure as Debt Worries Grow – Reuters
• Stock Futures Hover Around Break-Even – WSJ
European Session Summary
Although the major currencies were relatively unchanged across the board just ahead of the North American session open on Tuesday, the currency markets … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Extends Gains On Expectations For U.S. Supply Drop

Posted: 13 Sep 2011 07:07 AM PDT

Forexpros – Crude oil futures extended gains on Tuesday, hovering close to USD90 a barrel amid speculation U.S. crude stockpiles dropped significantly last week after storms disrupted production in the Gulf of Mexico.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at USD89.81 a barrel during U.S. morning trade, jumping 1.81%.

It earlier rose as much as 1.9% to trade at USD89.89 a barrel, the highest price since September 8.

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

Is A FICO Score Under 640 The Kiss Of Death In NC?

Posted: 13 Sep 2011 07:05 AM PDT

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


Quote Of The Day: A Fundamental Fallacy

Posted: 13 Sep 2011 07:01 AM PDT

A fundamental fallacy is the notion that politicians can “grow the economy” by taking money out of the private sector and spending it wherever it is politically expedient to spend it — so long as they call spending “investment.”

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

Neutral On Nucor

Posted: 13 Sep 2011 06:55 AM PDT

We maintain our Neutral recommendation on Nucor Corporation (NYSE:NUE), the largest producer of structural steel, steel bars, steel joists, steel deck and cold finished bars in the U.S.
Recently, Nucor reported a year-over-year profit growth of more than 220% to $0.94 per share for the second quarter of 2011, which also beat the Zacks Consensus Estimate of $0.81. Results were driven by increased demand and prices for steel mill products. We believe NUE's strong cash flows and balance sheet will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EA Set To Revive Syndicate

Posted: 13 Sep 2011 06:55 AM PDT

Video game developer and publisher, Electronic Arts Inc (ERTS), popularly known as EA, recently unveiled the first-person shooter franchisee Syndicate. This is a remake of the original game by Bullfrog productions, which was last published in 1996.
The new game is expected to launch in early 2012 and will be available on Sony Corp.'s (SNE) PlayStation3, Microsoft Corp.'s (MSFT) Xbox 360 videogame and entertainment system as well as on personal computers (PC).
Syndicate has been developed by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD In The Top Half The Days Range

Posted: 13 Sep 2011 06:47 AM PDT

The GBPUSD has been moving higher and lower in the NY session around the midpoint of the days range at the 1.5814 level (see chart below). The hourly chart above shows resistance againt the 1.5858 level  on the sideways to down channel. The downside support off the same chart comes in at the 1.5749 level. That line was tested on 3 separate occasions and each time the market price bounced.
Traders looking for the range trading to continue should use the extremes for the day as levels … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

LMT To Provide Trainers For C-130J

Posted: 13 Sep 2011 06:35 AM PDT

Lockheed Martin Corporation (NYSE:LMT) has received an $84.3 million contract from the U.S. Air Force, under which the company will deliver four weapons systems trainers for aircrew instruction and will also provide program management and engineering services. Basically, the contract is to provide training to people, who maintain and fly the C-130J cargo plane under the Maintenance and Aircrew Training System (MATS) II program.
MATS II complements the original C-130J MATS program, which Lockheed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Brady, Broadcom, Colfax, Capital One Financial, Coldwater Creek, Dolby Laboratories, Global Industries, Ltd., ING Group, N.V., McGraw-Hill Companies, NetLogic Microsystems, Research In Motion Limited

Posted: 13 Sep 2011 06:35 AM PDT

    Share prices of semiconductor company NetLogic Microsystems (NASDAQ:NETL) spiked up 50.80% to close at $48.12 after Broadcom Corp. (NASDAQ:BRCM) announced its decision to buy the company for about $3.7 billion

    Board of directors of McGraw-Hill Companies (NYSE:MHP) has approved a plan to separate the company into two different public companies. Following the development, shares of the company rose 3.98%

    Research in Motion (NASDAQ:RIMM) has entered into … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Leucadia

Posted: 13 Sep 2011 06:35 AM PDT

We recently maintained our Neutral recommendation on Leucadia National Corporation (NYSE:LUK).
Based in New York the company engages in manufacturing, oil and gas drilling services, gaming entertainment, real estate activities, medical product development operations and various other investment activities in the United States.
The industries in which Leucadia operates are vulnerable to general market conditions. It was after consistent and appreciable improvements in the global economy that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Bounces Off 2-day Low In Volatile Trade

Posted: 13 Sep 2011 06:33 AM PDT

Forexpros – The U.S. dollar pared losses against its Canadian counterpart on Tuesday, bouncing off a two-day low in volatile trade as markets continued to focus on the euro zone's sovereign debt crisis.

USD/CAD clawed back from 0.9892, the lowest since September 9, to trade at 0.9914 during U.S. morning trade, still down 0.13% on the day.

The pair was likely to find support at 0.9829, the low of September 8 and resistance at 1.0026, Monday's high and an eight-month high.

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

Arris Group Still Neutral

Posted: 13 Sep 2011 06:05 AM PDT

We reaffirm our long-term Neutral recommendation on Arris Group Inc. (NASDAQ:ARRS). The company posted mixed financial results for the second quarter of 2011. Arris is a major provider of infrastructure solutions for broadband networks. The company's success is mostly dependent on the cable MSOs decision to install new networks or upgrade the existing networks. If the cable operators fail to compete effectively with other pay-TV service providers, then it will significantly affect Arris' future … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MON To Push Price Amid Food Crisis

Posted: 13 Sep 2011 06:05 AM PDT

World's largest seed company, Monsanto Co. (NYSE:MON), announced to raise prices for its DeKalb brand of corn seeds in 2012 by an average of 5% to 10% amid the present worldwide food crisis. 
The price rise reflects higher cost of production for the high-yielding corn genes. These insecticide- producing biotechnology seeds have been depicting improved performance and higher sales of crops for the growers over time. The company anticipates that more and more farmers will shift to the new, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Europe Piles On Market Volatility

Posted: 13 Sep 2011 06:05 AM PDT

With nothing major on the U.S. economic calendar, stocks will likely again be reflecting the developments, or lack thereof, from across the pond in Europe. The debt problems in Europe remain a major source of headline risk for the market. The extreme market volatility on Monday was a function of Europe and we will likely get more of the same today. 

I find it difficult to buy into some of the extreme calls about Europe, such as that Greece will default or that it will be kicked out of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Trims Gains As Euro Debt Fears Weigh

Posted: 13 Sep 2011 06:04 AM PDT

Forexpros – The U.S. dollar trimmed gains against the Swiss franc on Tuesday, pulling back from the daily high as concerns over a sovereign debt default by Greece mounted, boosting demand for safe haven assets.

USD/CHF pulled back from 0.8879, the daily high, to hit 0.8815 during European afternoon trade, still up 0.16% on the day.

The pair was likely to find short-term support at 0.8705, last Friday's low and resistance at 0.8927, Monday's high and a four-month high.

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

Forex Trading: EURUSD Testing Trendline Resistance At 1.3668 Area

Posted: 13 Sep 2011 05:55 AM PDT

On the daily chart in the EURUSD, the 1.3668 level represents the underside of the trendline extending from the lows in May and July. THe level comes in at the 1.3668 level and the price today has extended above the level on two separate occasions today. The price is now back below the level, but the market action remains choppy. Keep an eye on this level for clues as to direction. If the price is not able to move back above, the downside is favored. A move back above and the price could scoot … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stock Futures Point To Weaker Open; Dow Sheds 0.25%

Posted: 13 Sep 2011 05:43 AM PDT

Forexpros – U.S. stock futures pointed to a weaker open on Tuesday, as lingering concerns over the euro zone's sovereign debt crisis continued to weigh on market sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a loss of 0.25%, the S&P 500 futures indicated a modest decline of 0.15%, while the Nasdaq 100 futures pointed to a 0.1% drop.

Stock futures trimmed losses after official data showed that U.S. import prices fell by 0.4% in August, beating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Import Prices Decline Less-than-expected In August

Posted: 13 Sep 2011 05:37 AM PDT

Forexpros – U.S. import prices declined less-than-expected in August, official data showed on Tuesday.

In a report, the U.S. Bureau of Labor Statistics said U.S. import prices fell by 0.4% in August, after rising by 0.3% in July.

Analysts had expected U.S. import prices to fall by 0.8% in August.

Year-over-year, U.S. import prices rose at an annualized rate of 13.0% in August, above expectations for a 12.5% increase, after rising at a rate of 14.0% in July.

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

USD/CAD Maintains Bullish Momentum And Structure Despite Failing To Stay Above Parity

Posted: 13 Sep 2011 05:26 AM PDT

Previous: USD/CAD Cracks Parity; What's Next? (9/12)
USD/CAD

The USD/CAD was rejected from rallying above 1.0, parity level.
A glance at the RSI sees that the 1H reading is still above 40. Since it has tagged above 70, remaining above 40 would be a sign of bullish momentum maintenance.
It should also be noted that the attempt was in a 5-wave motive wave manner, and the decline since has been in an 3-wave corrective wave manner.
According to Elliott Wave Principles, this completes a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Athenahealth’s Online Dashboard

Posted: 13 Sep 2011 05:25 AM PDT

Leading vendor of cloud-based services for physician practices, Athenahealth (NASDAQ:ATHN) recently unveiled its new online dashboard to inform viewers about the performance of doctors on its network against the meaningful use parameter. Viewers of this dashboard, which will be updated regularly, will glean important data regarding how medical practitioners, taking part in the company's meaningful use disbursement program, are progressing toward satisfying the requirements.
The dashboard provides … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chunghwa Remains Neutral

Posted: 13 Sep 2011 05:25 AM PDT

We reaffirm our Neutral recommendation on Chunghwa Telecom Co. Ltd. (NYSE:CHT) following its solid performance in the second quarter of 2011. Chunghwa is the dominant telecom operator in Taiwan. It holds 80% of broadband market share, coupled with 96% of local fixed-line and 77% of long-distance fixed-line market share.
The company also commands 34% of the Taiwanese wireless market share. A recent ruling of the Taiwanese government has changed the pricing right of a landline-to-mobile call in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Remains Broadly Higher Amid Greece Concerns

Posted: 13 Sep 2011 05:14 AM PDT

Forexpros – The U.S. dollar trimmed gains but remained broadly higher against its major counterparts on Tuesday, as reports of an impending joint statement on Greece by German Chancellor Angela Merkel and French President Nicolas Sarkozy were denied.

During European afternoon trade, the greenback was up against the euro, with EUR/USD down 0.21% to hit 1.3648.

The single currency rose to the session high against the greenback earlier, amid expectations that the German and French leaders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Set To Resume Selloff, Gold Outlook Appears Conflicted

Posted: 13 Sep 2011 04:52 AM PDT

Talking Points

Crude Oil Likely to Fall as S&P 500 Futures Point to Risk Aversion
Gold, Silver Fundamental Cues Conflict with Bearish Chart Setups

WTI Crude Oil (NY Close): $88.19 // +0.95 // +1.09%
Crude prices remain intimately tied to underlying risk appetite trends, with the correlation between the WTI contract and the S&P 500 nearing the highest levels in a month. With no top-tier scheduled event risk to derail momentum on the calendar as Wall Street comes online, this seems to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Pares Losses, Tracking Euro Higher

Posted: 13 Sep 2011 04:44 AM PDT

Forexpros – The pound trimmed losses against the U.S. dollar on Tuesday, easing off a seven-and-a-half month low, but gains were limited after inflation data released earlier failed to dampen speculation over further easing by the Bank of England.

GBP/USD pulled back from 1.5761, the pair's lowest since January 25, to hit 1.5822 during European afternoon trade, still down 0.25% on the day.

Cable was likely to find support at 1.5582, the low of January 12 and resistance at 1.5885, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Trims Losses After Merkel Remarks On Greece

Posted: 13 Sep 2011 04:27 AM PDT

Forexpros – The euro trimmed losses against the U.S. dollar on Tuesday, easing off the daily low after German Chancellor Angela Merkel said the top priority for policymakers was to avoid an “uncontrolled insolvency” for Greece.

EUR/USD pulled away from 1.3559, the daily low, to hit 1.3667 during European early afternoon trade, down just 0.08% on the day.

The pair was likely to find support at 1.3493, Monday's low and a seven-month low and resistance at 1.3860, the high of February 2.

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

EUR/USD Ranging Between 1.3556 And 1.37

Posted: 13 Sep 2011 04:10 AM PDT

Prev: EUR/USD Finds Support at 1.35 with Room for a Corrective Rally to 1.3745 (9/12)
EUR/USD

The EUR/USD has been consolidating to start the week. After a low of 1.3498, the market rallied to find resistance at 1.3695. (Roughly a bounce from 1.35 to 1.37.
Then it found support twice at 1.3556 and established a range between 1.3556 and 1.37.
The 1H Chart above shows that 1.37 is near the 23.6% retracement level of the swing from last week's high to this week's low so far.
If the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDA Lifts Hold On RXi Breast Cancer Vaccine Trial

Posted: 13 Sep 2011 04:00 AM PDT

Grant Zeng, CFA
FDA lifts hold on RXi breast cancer vaccine trial

On September 12, 2011, RXi Pharmaceuticals Corporation (RXII) announced a clinical trial update on its lead program, NeuVax (E75 peptide vaccine with GM-CSF adjuvant), a cancer immunotherapy targeted for low-to-intermediate HER2 expressing breast cancer patients not eligible for trastuzamab (Herceptin).

RXi received official notification from the U.S. Food and Drug Administration (FDA) that the Chemistry, Manufacturing, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybean Futures Drop To 2-week Low After USDA Supply Report

Posted: 13 Sep 2011 03:43 AM PDT

Forexpros – Soybean futures dropped to two-week low on Tuesday, extending sharp losses from the previous session after the U.S. Department of Agriculture unexpectedly raised its forecast for U.S. soybean production.

On the Chicago Mercantile Exchange, soybean futures for November delivery traded at USD13.8850 a bushel during European morning trade, dropping 0.83%.

It earlier fell as much as 1.11% to trade at USD13.8262 a bushel, the lowest price since August 26.

The USDA said in its World … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Eases Off 10-year Low After Italian Bond Auction

Posted: 13 Sep 2011 03:24 AM PDT

Forexpros – The euro pared losses against the yen on Tuesday, pulling back from an almost 10-year low, amid speculation that the European Central Bank was buying Italian government debt after the country's borrowing costs surged to a euro-lifetime high.

EUR/JPY pulled away from 104.39, the daily low, to hit 105.15 in European morning trade, still down 0.45% on the day.

The pair was likely to find support at 103.91, Monday's low and the pair's lowest since late December 2000 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Stocks Turn Lower As China Hopes Fade; DAX Falls 0.5%

Posted: 13 Sep 2011 02:18 AM PDT

Forexpros – European stock markets gave up early gains to trade sharply lower on Tuesday, as markets awaited a closely-watched Italian bond auction, while French lenders tumbled amid fears of an imminent credit downgrade.

During European morning trade, the EURO STOXX 50 tumbled 1.3%, France's CAC 40 sank 1.8%, while Germany's DAX 30 dropped 0.5%.

European equities opened higher amid reports that Italy’s Finance Ministry held talks with Chinese officials about "significant" purchases … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Belarus Central Bank Hikes Rate 300bps To 30.00%

Posted: 13 Sep 2011 02:16 AM PDT

The National Bank of the Republic of Belarus raised its refinancing rate by 300 basis points to 30.00% from 27.00% on the 14th of September.  The Bank said [translated]: “The consistent increase in the cost of borrowed money in the economy is intended to provide a further deterrent effect on customers’ demand for credit resources of banks for the period of release on a single course.  At the same time, increasing the refinancing rate will be an additional factor in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Mozambique Holds Interest Rate At 16.00%

Posted: 13 Sep 2011 02:00 AM PDT

The Bank of Mozambique held its standing facility lending interest rate at 16.00%.  The Bank said [translated]: “The Monetary Policy Committee believes that the Mozambican economy progresses in line with the main macroeconomic targets set for 2011, to evaluate reported interim results for the first half of the year and the projected short- and medium in which the analysis is based, even if the risks outweigh global economic slowdown. The exchange rate developments that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher On Increased Safe Haven Demand

Posted: 13 Sep 2011 01:46 AM PDT

Forexpros – The U.S. dollar was higher against most of its major counterparts on Tuesday, as fears over the debt crisis in the euro zone intensified, causing investors to spurn riskier assets.

During European morning trade, the greenback was up against the euro, with EUR/USD falling 0.67% to hit 1.3586.

The euro was pressured lower amid doubts that China would support Italy by buying its government debt, following earlier reports to the contrary. Italy was due to auction up to EUR7 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Goods Trade Deficit Holds Steady In July

Posted: 13 Sep 2011 01:44 AM PDT

Forexpros – The U.K.'s goods trade deficit was unchanged in July, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said the country’s goods trade deficit held steady at a seasonally adjusted GBP8.9 billion in July, confounding expectations for a deficit of GBP8.5 billion.

The report said that the total trade deficit was unchanged at GBP4.5 billion in July. Analysts had expected the total trade deficit to narrow to GBP4.2 billion.

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

U.K. Consumer Price Inflation Rises In Line With Expectations

Posted: 13 Sep 2011 01:39 AM PDT

Forexpros – Consumer price inflation in the U.K. rose in line with expectations in August, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said the rate of consumer price inflation accelerated to 4.5% in August from 4.4% in July, broadly in line with market expectations.

Month-over-month, consumer price inflation rose 0.6%, in line with expectations.

The rate of inflation was more than double the Bank of England's 2.0% target. The BOE Governor is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Pull Back From 2-day High On Dollar Strength

Posted: 13 Sep 2011 01:30 AM PDT

Forexpros – Crude oil futures erased gains on Tuesday, retreating from a two-day high as a broadly stronger U.S. dollar reduced the appeal of commodities, while lingering fears over the euro zone's debt crisis also weighed.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at USD87.97 a barrel during European morning trade, shedding 0.26%.

It earlier fell as much as 0.41% to trade at a daily low of USD87.83 a barrel.

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

Forex – GBP/USD At Multi-month Low As U.K. Inflation Data Eyed

Posted: 13 Sep 2011 01:06 AM PDT

Forexpros – The pound fell to a seven-and-a-half month low against the U.S. dollar on Tuesday, as fears over the debt crisis in the euro zone intensified, boosting demand for the safe haven dollar.

GBP/USD hit 1.5763 during early European trade, the pair’s lowest since January 25; the pair subsequently consolidated at 1.5773, shedding 0.56%.

Cable was likely to find support at 1.5582, the low of January 12 and resistance at 1.5885, Monday's high.

Earlier in the day, a report in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Lower As EZ Fears Bolster Safe Haven Demand

Posted: 13 Sep 2011 12:50 AM PDT

Forexpros – The U.S. dollar was lower against the yen on Tuesday, as mounting fears over a debt default by Greece and concerns over contagion in the euro zone supported demand for the traditional safe haven yen.

USD/JPY hit 76.92 during late Asian trade, the daily low; the pair subsequently consolidated at 76.94, shedding 0.35%.

The pair was likely to find support at 76.52, the low of September 2 and resistance at 77.58, Monday's high.

Earlier in the day, market sentiment was boosted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Rebound On Bargain-buying, EZ Debt Woes

Posted: 13 Sep 2011 12:29 AM PDT

Forexpros – Gold futures regained strength on Tuesday, as the previous day's sharp drop created buying opportunities for investors, while lingering fears over the euro zone's sovereign debt crisis continued to support prices.

On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,823.55 a troy ounce during late Asian trade, climbing 0.72%.

It earlier rose as much as 1.06% to trade at a daily high of USD1,836.15 a troy ounce.

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

Forex – NZD/USD Slips As Euro Debt Fears Weigh On Risk Appetite

Posted: 13 Sep 2011 12:19 AM PDT

Forexpros – The New Zealand dollar was lower against its U.S. counterpart on Tuesday, slipping to a daily low as fears over the deepening sovereign debt crisis in the euro zone saw investors shun riskier assets.

NZD/USD hit 0.8200 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8224, slipping 0.06%.

The pair was likely to find support at 0.8117, Monday's low and a one-month low and resistance at 0.8370, last Friday's high.

The New Zealand dollar briefly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Slides As Euro Zone Debt Worries Weigh

Posted: 13 Sep 2011 12:07 AM PDT

Forexpros – The Australian dollar was down against its U.S. counterpart on Tuesday, as uncertainty over the euro zone debt crisis and concerns over the outlook for global growth continued to weigh on risk appetite.

AUD/USD hit 1.0304 during late Asian trade, the daily low; the pair subsequently consolidated at 1.0325, slipping 0.20%.

The pair was likely to find support at 1.0255, Monday's low and a one-month low and resistance at 1.0440, Monday's high.

The Aussie rose to the session … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Robert Reich Debunks 6 Big GOP Lies About The Economy

Posted: 12 Sep 2011 11:44 PM PDT

Robert Reich Debunks 6 Big GOP Lies About The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Rebound On China Bond-buying Report; Nikkei Up 1%

Posted: 12 Sep 2011 11:43 PM PDT

Forexpros – Asian stock markets were broadly higher on Tuesday, as investors entered the market for bargain hunting following the previous day's steep decline, while reports that China might purchase Italian bonds helped lift sentiment.

During late Asian trade, Australia's ASX/200 Index rose 0.84%, Japan's Nikkei 225 Index climbed 0.98%, while Hong Kong’s Hang Seng Index remained closed for a public holiday.

The Financial Times reported Monday that Italy's government was in talks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Firms Up On China Debt Buying Hopes

Posted: 12 Sep 2011 11:31 PM PDT

Forexpros – The euro firmed up against the U.S. dollar on Tuesday, amid hopes that China would buy Italian sovereign debt, but growing fears over a Greek default and the possibility of ratings cuts on major French banks saw the single currency remain under pressure.

EUR/USD hit 1.3621 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3692, easing up 0.08%.

The pair was likely to find support at 1.3493, Monday's low and a seven-month low and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Macy's, Inc. (M)

Posted: 12 Sep 2011 11:05 PM PDT

Macy’s, Inc. (NYSE:M) has been taking prudent steps to increase sales, profitability and cash flows, which include integration of operations, consolidation of divisions and customer-centric localization initiatives. To help drive traffic, Macy’s continues to focus on price optimization, inventory management and merchandise planning.
These helped the company to deliver better-than-expected second-quarter 2011 results. The quarterly earnings of $0.55 per share beat the Zacks Consensus Estimate of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Royal Gold, Inc.

Posted: 12 Sep 2011 11:05 PM PDT

Royal Gold, Inc. (NASDAQ:GOLD) has seen huge gains over the last two months, with shares up as much as 30% as gold hit a series of new all-time highs. With estimates on the rise and gold fever running strong, this Zacks #1 Rank stock is at the top of the momentum chart.
Company Description
Royal Gold, Inc., through its subsidiaries, acquires and operates precious metals royalties in exploration and production companies. The company was founded in 1981 and has a market cap of $4.47 billion.
Royal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Schlumberger Limited

Posted: 12 Sep 2011 11:05 PM PDT

Management at Schlumberger Limited (NYSE:SLB) gave a bullish outlook following better-than-expected second quarter results.
This prompted analysts to revise their estimates significantly higher for both 2011 and 2012, sending the stock to a Zacks #2 Rank (Buy).
With heightened fears of another recession looming, however, shares have pulled back considerably from their 52-week highs. If the recessionary fears are overblown though, then Schlumberger looks very attractive at just 14.4x forward … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: NCR Corp

Posted: 12 Sep 2011 11:05 PM PDT

NCR Corp (NYSE:NCR) is showing a good combination of steady growth projections and attractive valuations. Many investors are afraid of aggressive stocks right now, but this could be a great opportunity to pick up shares.
Company Description
NCR Corp offers tech services that are used in ATMs, and other financial transactions. The company also provides self-service kiosks for the retail, gaming, travel, healthcare and other industries.
Solid Growth
On Jul 21 NCR Corp reported second quarter revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: Genworth Financial (GNW)

Posted: 12 Sep 2011 11:05 PM PDT

Genworth Financial’s (NYSE:GNW) second quarter operating loss wider than the Zacks Consensus Estimate loss. A substantially higher year-over-year loss at the U.S. Mortgage Insurance segment, partially offset by better results at Retirement & Protection and at International, resulted in the company’s soft performance. We expect mortgage insurance business to remain pressured.
Additionally, improvements in its other business lines are expected to be slow, given the economy’s sluggish recovery. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down During The Asian Session

Posted: 12 Sep 2011 10:55 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3666, down 0.10% at time of writing.

The pair was likely to find support at 1.3500, Monday's low, and resistance at 1.4089, Thursday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.01% to hit 0.8623 and EUR/JPY falling 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down In Asian Trade

Posted: 12 Sep 2011 10:25 PM PDT

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

GBP/USD was trading at 1.5858, down 0.03% at time of writing.

The pair was likely to find support at 1.5774, Monday's low, and resistance at 1.6083, Thursday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.001% to hit 0.8624 and GBP/JPY falling 0.29% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FridayMarketMonitor Podcast

Posted: 12 Sep 2011 10:22 PM PDT

About one month ago I got the chance to appear on the podcast FridayMarketMonitor with Walter Traversy and Pina Bernardi.  I'm a little late in providing a link to the podcast, but to be honest my views of the market haven't changed at all since the interview, so I think it's still worthwhile to check out.  Here's the link to the podcast, and to their website:

http://proxy.autopod.ca/podcasts/chum/10/4346/fmm.11.08.12.mp3

www.fridaymarketmonitor.com
Back then I said that I … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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Forex – Dollar Fades In Mid-day Asian Trade

Posted: 12 Sep 2011 08:13 PM PDT

Forexpros –
Forexpros – The U.S. dollar was lower against its major counterparts in Asian trade Tuesday, on hopes for progress on Europe's ongoing debt crisis and a tepid showing by shares on Wall Street.
In mid-day Asian trade, the greenback was higher against the euro, with EUR/USD slipping 0.18% to hit 1.4072.
Earlier Monday, the U.K. Financial Times reported that China was in talks with Italian officials regarding an injection of funds, including the purchase of bonds and investments in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Falls In Mid-day Asian Trade

Posted: 12 Sep 2011 07:37 PM PDT

Forexpros –
Forexpros – The U.S. dollar moved lower against the Japanese yen in Asian trade Tuesday, following reports suggesting progress in Europe's attempts to stem the tide of regional debt contagion
In mid-day Asian trade USD/JPY hit 77.05, the pair's lowest since last Tuesday ; the pair subsequently consolidated at 77.10, dropping 0.15%.
The pair was likely to find support at 76.29, the low of August 11, and resistance at 77.70, last Wednesday's high.
Earlier Monday, the Financial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asian Stocks Climb In Early Trade; Nikkei Adds 0.38%

Posted: 12 Sep 2011 06:56 PM PDT

Forexpros –
Forexpros – Asian stocks moved higher in Tuesday trade, lifted by apparent progress on Europe's sovereign debt crisis and reports that China was prepared to purchase Italian bonds.
During early Asian trade, Japan's Nikkei 225 Index rose 0.38% to 8,561.08, while Australia's S&P/ASX 200 added 1.09% to 4,062.20.
Along with the Nikkei, the broader-based Topix Index of all issues listed on the first section of the Tokyo Stock Exchange climbed 0.3% to 743.50.
Markets in South … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Rebounds In Early Asian Trade

Posted: 12 Sep 2011 06:09 PM PDT

Forexpros –
Forexpros – Crude oil futures advanced in Asian trade Tuesday, as investors bought on dips after a two-decline, and European debt concerns eased following reports that Greece would be receiving a new round of bailout funds.
On the New York Mercantile Exchange light, sweet crude futures for October delivery traded at USD88.88 a barrel during early Asian trade, rising 0.07%, after hitting a daily low of USD88.75.
A Wall Street Journal report cited two senior officials from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Fall In Early Asian Trade

Posted: 12 Sep 2011 05:25 PM PDT

Forexpros –
Forexpros – Gold futures moved lower in Asian trade Tuesday, as reports pointed to the likely resumption of monetary aid to Greece, cooling enthusiasm for the safe-haven precious metal.
On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,899.55 a troy ounce during early Asian trade, down 0.09%, after hitting a high of USDS1,903.75.
European Central Bank President Jean-Cluade Trichet said earlier Monday, it remains his … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Oddness Of The President’s Upcoming Deficit-Reduction Plan

Posted: 12 Sep 2011 05:20 PM PDT

On Monday the President will offer ways to pay for his $467 billion American Jobs Act mostly by increasing taxes on the wealthy.
I'm all in favor, but it's an odd strategy. If any Republican was prepared to vote for the jobs bill, this will send him or her scurrying.
So if the President was never really serious about getting Republican votes in the first place — if his jobs bill and the tax increase on the wealthy were always going to be part of his 2012 election year pitch — why … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Dips In Early Asian Trade

Posted: 12 Sep 2011 04:40 PM PDT

Forexpros –
Forexpros – The euro moved lower against the U.S. dollar in Asian trade Tuesday, on fresh concerns over European sovereign debt and a possible downgrade to French banks due to exposure to Greek outstanding loans.
EUR/USD hit 1.3660 in early Asian trade, the pair's lowest since Friday; the pair subsequently consolidated at 1.3676, easing 0.03%.
The pair was likely to find support at 1.3526, the low of February 22, and resistance at 1.3937, last Friday's high.
Speaking from a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down During The Asian Session

Posted: 12 Sep 2011 04:10 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3661, down 0.14% at time of writing.

The pair was likely to find support at 1.3500, today's low, and resistance at 1.4150, Wednesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.10% to hit 0.8615 and EUR/JPY falling 0.18% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CNP Swaps Credit Facilities

Posted: 12 Sep 2011 04:05 PM PDT

CenterPoint Energy Inc. (NYSE:CNP) has replaced its existing revolving credit facilities with closure of three revolving bank credit facilities worth $2.45 billion. The company closed the three revolving bank credit facilities for the parent and its wholly-owned subsidiaries, CenterPoint Energy Houston Electric LLC (CEHE) and CenterPoint Energy Resources Corp. (CERC).
The lines of credit include $1.2 billion for CenterPoint, $300 million for its electric transmission and distribution subsidiary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

McGraw-Hill Separates Businesses

Posted: 12 Sep 2011 03:58 PM PDT

09/12/11 McGraw-Hill will split its markets and education divisions into two publicly traded … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Market Squeeze

Posted: 12 Sep 2011 03:39 PM PDT

Cusick’s Corner
The market has rallied, it’s more of a squeeze, but this is not a signal of a total move from risk aversion to risk on. The reality is things look cruddy; yes, I used a sixth grade word to describe the state of the financial markets, so the flight to cash at this stage is not surprising. The offensive sectors, XLI, XLF, XLK, QQQ, and XLY are underperforming and the Small Caps, like RUT and IWM (those higher beta stocks), are still in a defined trend down. Until I see the any … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Risk-Reward Balanced At Micromet

Posted: 12 Sep 2011 03:35 PM PDT

We have maintained a Neutral rating on Micromet, Inc. (NASDAQ:MITI) with a target price of $5.00 per share.
We believe Micromet's lead pipeline candidate, blinatumomab, holds tremendous potential in the treatment of acute lymphoblastic leukemia (ALL). Blinatumomub is one of the leading BiTE antibodies. BiTE antibodies represent a new class of antibodies that activate the T-cells of a patient's immune system to eliminate cancer cells.
The company is conducting a pivotal study of blinatumomab … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Up In Asian Trade

Posted: 12 Sep 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was higher against the U.S. Dollar on Monday.

NZD/USD was trading at 0.8252, up 0.24% at time of writing.

The pair was likely to find support at 0.8119, today's low, and resistance at 0.8382, Thursday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.19% to hit 1.2545 and EUR/NZD falling 0.40% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Import And Export Prices, NFIB Small Business Optimism Index, Earnings – Best Buy; UK Data – CPI, Trade Balance, House Prices, Retail Price Index

Posted: 12 Sep 2011 03:20 PM PDT

09/12/11 Tuesday brings forth global economic data on inflation and small business optimism in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Setups To Keep An Eye On Tuesday

Posted: 12 Sep 2011 03:14 PM PDT

( click to enlarge )

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) – Nice solid Breakout. The technical chart shows very strong upward momentum as the stock is trading above the 50 day moving average with both 50 day and 200 day moving average going up. At this point I will buy only once it breaks through today's high of $71.26 for the continuation move. Stochastics and the RSI are now overbought but remain bullish signaling.

 ( click to enlarge )

XenoPort, Inc. (NASDAQ:XNPT) – … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cummins Sells Filtration Biz

Posted: 12 Sep 2011 03:10 PM PDT

Cummins Inc. (NYSE:CMI) announced the sale of a part of its light duty filtration operations to Evanston, Illinois-based private equity firm Industrial Opportunity Partners LLC in order to streamline the business.
The move will help the company tap significant growth opportunities in the development and deployment of filtration products in the midst of tightening global emission standards.
The sale will affect the company's Kuss Filtration businesses in Findlay, Ohio, Bloomer, Wisconsin, Sao … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TOTAL’s Caspian Find Holds Promise

Posted: 12 Sep 2011 03:01 PM PDT

Oil major TOTAL S.A. (NYSE:TOT) has made an important gas discovery in the Caspian Sea in the Absheron block offshore Azerbaijan. The company expects this discovery to be significant in terms of resources.
Located at a depth of 1640 feet of water, 62 miles south east of Baku and 15 miles north east of the Shah Deniz gas and condensate field, the Absheron X-2 well discovered more than 500 feet of cumulated net gas pays. The well is currently drilled to a depth of 21,489 feet.
The gas reserves were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Motorola Mobility Wins New Deal

Posted: 12 Sep 2011 03:01 PM PDT

Motorola Mobility Holdings, Inc. (MMI), one of the leading set-top box manufacturers, will deliver its highly integrated series of VIP22n2E set-top boxes to Russian telecommunication provider VimpelCom Ltd. (NYSE:VIP).  
VimpelCom, a leading integrated telecommunication services provider that operates under the brand Beeline and one of the major clients of Motorola Mobility, will offer the advanced version of set-top boxes to its IPTV subscribers.
Motorola Mobility's VIP2202 and VIP2262 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CBL To Develop Community Center

Posted: 12 Sep 2011 03:01 PM PDT

CBL & Associates Properties Inc. (NYSE:CBL) recently announced its plan to start construction of its new community center Waynesville Commons, a 127,500-square-foot project in Waynesville, North Carolina. The initial site work is already under way and the center is expected to open in October 2012.
The new community center will be anchored by a new 85,000 square foot Belk fashion department store, in addition to the existing Walmart. This will also be accompanied by another 11,000 square feet … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

LabCorp-UnitedHealth Extend Pact

Posted: 12 Sep 2011 02:35 PM PDT

Last week, Laboratory Corporation of America Holdings (NYSE:LH) announced that it has extended its agreement with UnitedHealthcare Insurance Company, an affiliate of UnitedHealth Group (NYSE:UNH). The agreement, effective since January 1, 2007, will continue until 2018.
Under the terms of the agreement, LabCorp will continue to be the national laboratory for UnitedHealthcare and Oxford Health Plans and the exclusive laboratory provider for some HMO benefit plans.
In 2006, LabCorp had entered into a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DOW Invests In Australia

Posted: 12 Sep 2011 02:35 PM PDT

Dow AgroSciences LLC, a subsidiary of The Dow Chemical Co. (NYSE:DOW), announced that it has agreed to invest in the Australian wheat breeding company HRZ Wheats. Financial terms of the deal were not disclosed.
Under the agreement, Dow AgroSciences and HRZ will exchange wheat genetic material and HRZ will get access to breeding services, technologies and funding to help speed up delivery of superior wheat varieties to Australian farmers.
HRZ was established in 2003 to provide wheat farmers in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Permanent Income Hypothesis Versus Temporary Stimulus Measures

Posted: 12 Sep 2011 02:33 PM PDT

A highlight of my life was visiting with Milton and Rose Friedman in their San Francisco apartment and being served homemade cookies by Rose near Milton's Nobel Prize hanging on a nearby wall. A few years later I asked Rose to confirm that she really made the cookies herself. She said if she served them, she made them.
Milton Friedman could have earned the highest honor in economics for several of his different contributions individually. My preference would have been for his whole body of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Borders Store No.1 Closes; We Should Celebrate. Powerful Market Foreces Are Working Perfectly

Posted: 12 Sep 2011 02:23 PM PDT

The mighty force of “consumer greed” prevails again:

The original Borders store opened 40 years ago in Ann Arbor, Michigan as an independent bookseller, and after today its flagship two-story, 37,000-square-foot store there will close forever.  The remaining Borders in Michigan will be closed by the end of the week, according to this Detroit New article. 

The economic lessons here include:

1. Creative destruction.  When Borders started aggressively pursuing a Big-Box, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NYSE Reaffirmed At Neutral

Posted: 12 Sep 2011 02:10 PM PDT

Last week, we reiterated our Neutral recommendation on NYSE Euronext Inc. (NYSE:NYX) based on the current sustainability factor. The company's second-quarter operating earnings per share of 61 cents came in a penny higher than the Zacks Consensus Estimate of 60 cents but lagged 64 cents recorded in the year-ago quarter. Consequently, operating net income dipped 4% year over year to $160 million from $167 million in the year-ago quarter.
Results reflected muted top-line performance during the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CSC Wins 10-year Contract

Posted: 12 Sep 2011 02:10 PM PDT

New deals continue to flow for Computer Sciences Corporation (NYSE:CSC) as the company recently won a 10-year contract worth more than $900 million from a U.S-based global multi-brand commercial products manufacturer, which offers information technology and infrastructure managed services.
Through this deal, the new client expects to improve the overall efficiency and service level of its IT function by leveraging CSC's expertise and global network of delivery centers.
As per the terms of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Late Rally On Tech Stocks & Debt Purchase Rumors Help The Dow Gain 68 Points Despite Greek Default Concerns

Posted: 12 Sep 2011 09:00 AM PDT

09/12/11 NYFP’s Closing Bell Market Monitor: The Big Board closes in the green despite growing fears of a Greek debt default, tech stocks rally equity markets, & reports surface that China is looking to buy Italian … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up At The End Of U.S. Session

Posted: 12 Sep 2011 01:55 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3680, up 0.19% at time of writing.

The pair was likely to find support at 1.3500, today's low, and resistance at 1.4150, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.30% to hit 0.8624 and EUR/JPY falling 0.33% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growing Apprehension Over Sovereign Creditworthiness

Posted: 12 Sep 2011 01:49 PM PDT

Although much of the focus has been on the burgeoning European debt crisis, the problems are not confined to that region alone. Indeed, as the following chart shows, spreads of credit default swaps, or CDS (which are, loosely speaking, a form of insurance against default), on the debt of government borrowers around the world have been climbing rapidly, signalling growing apprehension over sovereign creditworthiness.

Admittedly, the average’s recent readings have been skewed by the ultra-wide … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BJ’s Wholesale Goes Private

Posted: 12 Sep 2011 01:40 PM PDT

BJ's Wholesale Club Inc. (NYSE:BJ) recently announced that majority of its shareholders approved the $2.8 billion offer of Leonard Green & Partners and CVC Capital Partners for taking the company private. The company added that approximately 72% of its shareholders approved the deal, while a meager 0.4% voted against it.
Going further, BJ's stated that they anticipate the deal to get completed on or about September 30, 2011. Moreover, the shares of the company will be delisted from the New … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 12 Sep 2011 01:40 PM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday.

USD/JPY was trading at 77.25, down 0.44% at time of writing.

The pair was likely to find support at 76.76, today's low, and resistance at 77.86, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.14% to hit 1.3674 and GBP/USD falling 0.14% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Know When To Hold ‘em, Know When To Fold ‘em

Posted: 12 Sep 2011 01:37 PM PDT

SmartStops comment:   Its why this service was brought to fruition.  Follow SmartStops and you can be protected before you lose it all. 
Unprecedented Monthly Volume Sell-Off Suggests Now's the Time to Take Shelter - published at Minyanville by Kevin A. Tuttle
Do not concern yourself if the market goes up today, tomorrow, or a month from now. The risk of entering is not worth the reward.
Over the weekend I had the pleasure of speaking with a very prominent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Medivation Remains Neutral

Posted: 12 Sep 2011 01:35 PM PDT

We recently reiterated a Neutral recommendation on biopharmaceutical company Medivation Inc. (NASDAQ:MDVN). Medivation, which currently does not have any marketed product in its portfolio, focuses on the development of novel small molecule drugs for the treatment of serious diseases for which there are limited treatment options.
Medivation currently has two lead candidates in its pipeline — dimebon (latrepirdine), which is being developed for the treatment of Alzheimer’s disease, and MDV3100, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lululemon Beats Estimate

Posted: 12 Sep 2011 01:35 PM PDT

Lululemon Athletica Inc. (NASDAQ:LULU) reported second-quarter 2011 earnings of 26 cents a share, up 73.0% from the year-ago figure of 15 cents, handily beating the Zacks Consensus Estimate of 22 cents.
Financial Details
The company’s 20.0% increase in comparable-store sales and 93.0% rise in Direct-to-Consumer revenue aided 39.0% year-over-year increase in second-quarter 2011 total revenue, which climbed to $212.3 million from $152.2 million reported in the year-ago quarter.
Gross profit for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SUPERVALU Gets Eco-friendly

Posted: 12 Sep 2011 01:35 PM PDT

Shaw's Supermarkets, a subsidiary of the nationwide SUPERVALU  INC.(NYSE:SVU) family of grocery stores, announced that it will offer fresh case products certified by the Marine Stewardship Council (MSC), the world’s leading certification and eco-labeling program for sustainable seafood. Shaw's is the first New England-based retailer with fresh product certified by the MSC.
In addition, Shaw's will also provide fresh products verified by the Gulf of Maine Research Institute (GMRI), a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Florida Bank Fails, Tally Hits 71

Posted: 12 Sep 2011 01:35 PM PDT

Last Friday, U.S. regulators shuttered The First National Bank of Florida, taking the number of failed banks thus far in 2011 to 71. This follows 157 bank failures in 2010, 140 in 2009 and 25 in 2008.
While the financials of bigger banks have been stabilizing on the back of an economic recovery, many smaller banks are still struggling to survive. Nagging issues like rock-bottom home prices along with still-high loan defaults and unemployment levels continue to trouble such … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sinopec Remains Evenly Poised

Posted: 12 Sep 2011 01:35 PM PDT

We have maintained our Neutral recommendation for China Petroleum and Chemical Corporation (NYSE:SNP), or Sinopec. The company's robust exploration and production (E&P) agenda for the year has been somewhat mitigated by its downstream weighted asset structure.
Following the strong first half 2011 results of Sinopec, backed by higher capacity, domestic economic growth and increased prices for petroleum and related products, it remains proactive to build a better position in the E&P space. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 12 Sep 2011 01:25 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3680, up 0.19% at time of writing.

The pair was likely to find support at 1.3500, today's low, and resistance at 1.4150, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.31% to hit 0.8625 and EUR/JPY falling 0.22% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Markets Close Higher; Dow Jones Up 0.63%

Posted: 12 Sep 2011 01:15 PM PDT

Forexpros – U.S. stocks were up after the closing bell on Monday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.63%, the S&P 500 index gained 0.70%, while the Nasdaq 100 index climbed 1.30%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 4.03%; Germany's DAX shed 2.27%; Britain's FTSE 100 declined 1.63%; and the EURO STOXX 50 fell … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bristol-Myers Takes Over Amira Pharma

Posted: 12 Sep 2011 01:05 PM PDT

The spate of acquisitions in the pharmaceutical industry continues with Bristol-Myers Squibb Company (NYSE:BMY) purchasing the privately-held Amira Pharmaceuticals. The private entity targeted the discovery and early development of new therapies to treat patients suffering from inflammatory and fibrotic diseases. Pursuant to the closure of the deal, Bristol-Myers acquired Amira Pharma's entire issued and outstanding shares of capital stock and stock equivalents.
At the time of announcing the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vale’s Salobo Project Delayed

Posted: 12 Sep 2011 01:05 PM PDT

Brazilian miner Vale S.A (VALE) recently postponed its Salobo copper project in the Amazon region of northern Brazil. The start-up of the $1.8 billion project has been deferred on the grounds of construction problems.
Salobo is the largest copper deposit of Amazon-region yet discovered in Brazil. The mine's huge deposit of copper — which is the key component in electrical and electronic equipments — was originally scheduled to open in the second half of 2011. On account of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down During The U.S. Session

Posted: 12 Sep 2011 12:55 PM PDT

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

GBP/USD was trading at 1.5863, down 0.11% at time of writing.

The pair was likely to find support at 1.5774, today's low, and resistance at 1.6083, Thursday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8612 and GBP/JPY falling 0.49% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Enzon Downgraded To Sell

Posted: 12 Sep 2011 12:35 PM PDT

We recently downgraded our rating on Enzon Pharmaceuticals Inc. (NASDAQ:ENZN) from Neutral to Underperform with a target price of $9.50.
In mid-May 2011, Enzon announced plans to halt the development of its lead pipeline compound PEG-SN38 (EZN-2208), a PEGylated version of the active metabolite of the cancer drug, irinotecan, for the treatment of metastatic colorectal cancer (mCRC). Enzon decided to halt development as the company intends to focus its resources on other areas with nearer-term … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cognizant Teams With Cambridge

Posted: 12 Sep 2011 12:35 PM PDT

Cognizant Technologies (NASDAQ:CTSH) recently announced that it will provide a range of application services to Cambridge Assessment, a not-for-profit examination group owned by Cambridge University, U.K.
As a part of the multi-year, multi-million pound agreement, Cognizant will help rationalize work with Cambridge Assessment and consolidate its portfolio of applications, and deliver application maintenance and production support services. These services should enable the organization to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Up In U.S. Trading Hours

Posted: 12 Sep 2011 12:30 PM PDT

Forexpros – The U.S. Dollar was higher against the Swiss Franc on Monday.

USD/CHF was trading at 0.8855, up 0.23% at time of writing.

The pair was likely to find support at 0.8540, Wednesday's low, and resistance at 0.8928, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the Japanese Yen, with EUR/USD shedding 0.45% to hit 1.3593 and USD/JPY falling 0.31% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 12 Sep 2011 12:10 PM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Monday.

USD/CAD was trading at 0.9974, up 0.06% at time of writing.

The pair was likely to find support at 0.9830, Thursday's low, and resistance at 1.0027, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.69% to hit 1.3560 and GBP/USD falling 0.52% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 12 Sep 2011 11:45 AM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Monday.

EUR/USD was trading at 1.3620, down 0.25% at time of writing.

The pair was likely to find support at 1.3500, today's low, and resistance at 1.4150, Wednesday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.12% to hit 0.8608 and EUR/JPY falling 0.58% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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