Wednesday, October 12, 2011

DailyMarkets.com - EnCana Finds Colorado Asset Buyer

DailyMarkets.com - EnCana Finds Colorado Asset Buyer

EnCana Finds Colorado Asset Buyer

Posted: 12 Oct 2011 12:10 PM PDT

EnCana Corporation (NYSE:ECA) will sell some of its midstream assets in Colorado to privately held Summit Midstream Partners LLC. The divestiture deal will fetch EnCana $590 million.  
Mid last month, EnCana stated that its subsidiary Encana Oil & Gas (USA) plans to dispose certain natural gas midstream properties in the Piceance Basin. The company however did not disclose the name of the buyer.
The deal, which is slated to close in the current quarter, involves 260 miles of pipeline and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Safeway

Posted: 12 Oct 2011 11:55 AM PDT

Safeway (NYSE:SWY), a leading food and drug retailer in North America, is scheduled to report its third quarter 2011 results on Thursday, October 13. The current Zacks Consensus Estimate for revenues and earnings per share the quarter are $9.8 billion and 35 cents, respectively.

Safeway has exceeded the expectations in all the past four quarters. The company has delivered an average positive earnings surprise of 7.13% over the past four quarters, implying that it has beaten the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alcoa Falters In A Fragile Economy

Posted: 12 Oct 2011 11:50 AM PDT

Alcoa Inc. (NYSE:AA) reported adjusted earnings per share of 15 cents per share, missing the Zacks Consensus Estimate of 22 cents per share. Adjusted earnings more than doubled from 6 cents per share reported in the year-ago quarter, but were 46.4% lower than the sequential quarter earnings of 28 cents per share due to lower metal prices, seasonal factors and weakness in Europe.
 
Revenues for the quarter were up 21% year over year to $6.419 billion, and were down from $6.585 billion in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: JPMorgan

Posted: 12 Oct 2011 11:50 AM PDT

JPMorgan Chase & Co. (NYSE:JPM) is scheduled to report its third quarter 2011 results before the market opens on Thursday, October 13. The Zacks Consensus Estimate for the quarter is 98 cents per share, representing a year-over-year slump of about 3%.

Unlike before, we do not expect JPMorgan to outperform as the sector was fraught with poor revenue figures, weak loan demand and low liquidity throughout the quarter. Weak trading and retail performances along with volatile equity markets may … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Host Hotels Reports Mixed Results

Posted: 12 Oct 2011 11:50 AM PDT

Host Hotels (NYSE:HST) reported third quarter 2011 FFO (funds from operations) of $112 million or 16 cents per share, compared with $75 million or 11 cents in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The third quarter 2011 FFO missed the Zacks Consensus Estimate by a penny.
 
Total revenue increased to $1,142 million during the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Varian Books Sizeable Order

Posted: 12 Oct 2011 11:50 AM PDT

Leading oncology and X-Ray products company, Varian Medical Systems (NYSE:VAR) recently announced that it has booked an $88 million order to supply its ProBeam system to the Scripps Proton Therapy Center (being setup in San Diego under an agreement between Scripps Health, Scripps Clinic Medical Group and Advanced Particle Therapy of Nevada).   
Under proton therapy, certain forms of cancer may be treated with fewer side effects than conventional radiation treatment. Proton therapy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Remains Supported. Eying The 50% Retracement At The 1.38465 Level

Posted: 12 Oct 2011 11:32 AM PDT

The EURUSD remains above the 100bar MA on the 5 minute chart which is currently at the 1.3789. level. The high has reached 1.3832.  The highs prior to the last modest move higher were at 1.3814/16.  The break above led to the high at 1.3832 but the price is currently back at the old high level. 
All calls for a top today, have led to a new move to new highs eventually. The current move and seemingly failure at the 1.38319 level may carry more weight since traders who are long, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD 1.3830 Also Key Level Above

Posted: 12 Oct 2011 11:31 AM PDT

We know about the 50% retracement target on the daily chart at the 1.3846 level (see prior post). Another key fibonacci retracement level comes in against the 38.2% of the move down from the 2011 high reached in May to the low reached in early October. That level comes in at the 1.38304 level.  The high for the day has come in at the 1.3832 level today, in between the two key levels. 
The price is also now below the 1.38.14-16 ceiling from  earlier today.  The case is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Positive Data On Forest Candidate

Posted: 12 Oct 2011 11:20 AM PDT

Forest Laboratories, Inc. (NYSE:FRX) and Gedeon Richter plc recently presented positive top-line results on their antipsychotic candidate, cariprazine. Preliminary top-line results were presented from a phase III study that was conducted in patients with acute mania associated with bipolar I disorder.

Results from the five-week multi-center, double-blind, placebo-controlled, parallel-group study showed that patients in the cariprazine arm experienced significant symptom improvement compared to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Unilife Wins Supply Contract

Posted: 12 Oct 2011 11:15 AM PDT

Retractable syringes maker Unilife Corporation (UNIS) has clinched a two-year contract from Premier Purchasing Partners LP (the purchasing unit of Premier Inc) to supply its Unitract 1mL (milliliter) safety syringes.
Premier Purchasing Partners LP is one of the largest health care group purchasing organizations (GPOs) in the U.S. Premier Inc. is the biggest healthcare alliance in the U.S. helping to improve performance and providing group contracting to over 2,500 hospitals and more than … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Zumiez Sustains Momentum

Posted: 12 Oct 2011 11:05 AM PDT

Zumiez (NASDAQ:ZUMZ), a U.S. action sports retailer, reported comparable store sales for the five-week period ended October 1, 2011. Total net sales for the period increased by a sharp 18.3% to $52.9 million from $44.7 million reported in the five-week period ended October 2, 2010.
 
For the reported period, comparable store sales surged 10.1% compared with a rise of 17.0% in the prior-year period. The September results marked the 22nd consecutive month of comparable store sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fresenius Provides Flu Vaccine

Posted: 12 Oct 2011 11:05 AM PDT

Fresenius Medical Care North America ("FMCNA"), the North American division of Fresenius Medical Care (NYSE:FMS), recently revealed that, from October 2011, it will offer its patients as well as clinical employees a yearly flu vaccine, as a precaution against both H1N1 and seasonal flu.
Flu is a serious condition for dialysis patients suffering from kidney failure and can cause pneumonia among other conditions. Fresenius' flu vaccination program reflects its UltraCare mission of providing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

America Movil Launches Telmex Bid

Posted: 12 Oct 2011 11:05 AM PDT

Mexican telecom giant America Movil (NYSE:AMX) has launched a bid offer of MXN$10.50 per share to acquire the entire ownership of its fixed-line operation Telefonos de Mexico SAB (NYSE:TMX), or Telmex.

Last week, America Movil declared its plan to launch the bid in mid-November. However, it now expects the expiry of the bid offer on November 11, 2011. The company disclosed its plans to acquire Telmex back in August.

This prompted one of the major stakeholders, AT&T Inc. (NYSE:T) to sell its 8.5% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Moody’s Upgrades BorgWarner

Posted: 12 Oct 2011 10:50 AM PDT

Moody's Investors Service, the credit rating agency of Moody’s Corporation (NYSE:MCO), has upgraded the credit rating of BorgWarner Inc. (NYSE:BWA) stating that the company's growth could surpass the industry growth given its competitive product offerings and focus on fuel economy improvements.
The rating agency has upgraded its senior unsecured ratings on BorgWarner from"Baa3" to "Baa2", which is a one-notch rise in the investment-grade category. It has also affirmed the rating outlook … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IBM To Acquire Platform Computing

Posted: 12 Oct 2011 10:50 AM PDT

In a bid to strengthen its computing services portfolio, IBM Corp. (NYSE:IBM) has agreed to acquire Platform Computing, a cluster and grid management software development company for distributed computing environments. The financial terms of the deal, which is scheduled to close in the fourth quarter of 2011, were not disclosed.
 
Based in Toronto, Ontario, Canada, Platform Computing is a privately-held company, with over 2,000 clients that include CERN, Citigroup Inc. (NYSE:C), Infineon, Pratt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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

Posted: 12 Oct 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Wednesday.

USD/JPY was trading at 77.37, up 0.94% at time of writing.

The pair was likely to find support at 76.32, today's low, and resistance at 77.49, today's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 1.29% to hit 1.3817 and GBP/USD rising 1.21% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ADTRAN Gains On Record Sales

Posted: 12 Oct 2011 10:35 AM PDT

ADTRAN Inc.'s (NASDAQ:ADTN) third quarter 2011 earnings of 56 cents per share were level with the Zacks Consensus Estimate and above 50 cents earned a year ago. Strong sales backed the year-over-year improvement.
 
Net profit shot up 12.9% to $36.2 million from $32.1 million in the year-ago … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AngioDynamics Reaffirmed Neutral

Posted: 12 Oct 2011 10:30 AM PDT

We retain our Neutral recommendation for therapeutic and diagnostic devices maker AngioDynamics (NASDAQ:ANGO). Its first-quarter fiscal 2012 adjusted earnings of 8 cents a share matched the Zacks Consensus Estimate. Revenues rose 6% year over year to $54.4 million, but missed the Zacks Consensus Estimate.
Profit slipped 27% year over year on account of charges associated with the CEO’s departure and the closure of the company's U.K. facility. Sustained double-digit growth at the Oncology business … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Good Reason For Gains…bit Of A Money Flood In Europe”

Posted: 12 Oct 2011 10:26 AM PDT

10/12/11 Meridian Equity Partners’ Stephen Guilfoyle weighs in on today’s advance in equity markets and the latest mixed earnings … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Synopsys Captures Extreme DA

Posted: 12 Oct 2011 10:25 AM PDT

Synopsys Inc. (NASDAQ:SNPS) recently completed the acquisition of privately held electronic design automation (EDA) company, Extreme DA. Financial terms of the deal were not disclosed.
Santa Clara-based Extreme DA develops software to improve the design, power consumption and manufacturing of integrated circuits (IC). Its flagship Static Timing Analysis and Timing Sign-off software will help Synopsys to accelerate the upgrade of its timing analysis solutions. Static timing analysis plays a vital … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Medicines Co. Settles With Teva

Posted: 12 Oct 2011 10:25 AM PDT

The Medicines Company (NASDAQ:MDCO) recently entered into an agreement with generic player Teva Pharmaceuticals (NASDAQ:TEVA) regarding generic versions of The Medicines Company's lead product, Angiomax.

Angiomax (bivalirudin), which was acquired from Biogen Idec, Inc. (NASDAQ:BIIB) in 1996, is used as an anticoagulant in patients undergoing coronary angioplasty. Angiomax is the company's lead product, accounting for 99.8% of total revenues in 2010.

Teva admitted that the two patents challenged by it … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Bank Of Kazakhstan Holds Refinancing Rate At 7.50%

Posted: 12 Oct 2011 10:19 AM PDT

The National Bank of Kazakhstan held its key refinancing rate unchanged at 7.50% as inflationary pressures ease somewhat.  NBK Chairman, Grigori Marchenko, said that the central bank will not revise its 2011 inflation target of 6-8%, after the “lower-than-expected” inflation reading in September.  The Market does not expect any interest rate changes in the near term.  Kazakhstan’s central bank last increased the interest rate in March this year by 50 basis points to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Higher; Dax Up 2.21%

Posted: 12 Oct 2011 10:05 AM PDT

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

At the close of European trade, Germany's DAX rose 2.21%, London's FTSE 100 gained 0.85%, France's CAC 40 climbed 2.42% and the EURO STOXX 50 was up 2.43%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 1.55%; the S&P 500 index gained 1.92%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Rally Continues, Hits 1-month High Against Dollar And Yen

Posted: 12 Oct 2011 10:00 AM PDT

10/12/11 The euro rally continued this afternoonm touching 1-month hihs against both the dollar and yen, as investor optimism continues to grow that Slovakia will vote in favor of expanding the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In U.S. Trade

Posted: 12 Oct 2011 10:00 AM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Wednesday.

GBP/USD was trading at 1.5762, up 1.19% at time of writing.

The pair was likely to find support at 1.5424, Friday's low, and resistance at 1.5798, today's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.09% to hit 0.8764 and GBP/JPY rising 2.15% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AT&T Offers More Androids, Tops Goal

Posted: 12 Oct 2011 09:55 AM PDT

AT&T Inc. (NYSE:T) introduced five new smartphones based on Google Inc.’s (NASDAQ:GOOG) Android operating system.
 
The second-largest U.S. mobile service provider unveiled Motorola Mobility Holdings Inc.'s (MMI) ATRIX 2, which is on the top list of its portfolio. The device will hit stores on October 16 with a $99.99 price tag and a two-year contract.
 
The other smartphones introduced were Samsung Captivate Glide, Samsung DoubleTime, Pantech Pocket and AT&T Avail. Notably, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDA Warning For Bristol-Myers Drug

Posted: 12 Oct 2011 09:55 AM PDT

The US Food and Drug Administration (FDA) recently issued a warning regarding the safety of Bristol-Myers Squibb Company's (NYSE:BMY) leukemia drug Sprycel. Sprycel is indicated for treating certain adults suffering from Philadelphia chromosome-positive chronic myeloid leukemia (CML) or acute lymphoblastic leukemia (ALL). The drug, which has treated approximately 32,882 patients since launch, blocks the action of an abnormal protein that causes tumor growth.

The US regulatory body stated that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Costco

Posted: 12 Oct 2011 09:50 AM PDT

Costco Wholesale Corporation (NASDAQ:COST), a leading U.S. warehouse club operator, recently posted fourth-quarter 2011 results.

Street analysts have had nearly a week to ponder the news. In the subsequent paragraphs, we will cover the recent earnings announcement, subsequent analysts' estimate revisions as well as the Zacks Rank and long-term recommendation on the stock.

Earnings Report Review

Costco's quarterly earnings of $1.08 per share missed the Zacks Consensus Estimate by a penny, but … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nike Sets Sales Target

Posted: 12 Oct 2011 09:40 AM PDT

As per a Reuters report, Nike Inc. (NYSE:NKE) has set an annual sales target of $4 billion from China by fiscal 2015. To attain this lofty aim, the company hopes to bring about a reform in the exercise and sporting habits of Chinese citizens. The company CFO mentioned that China, with its large population, is tuned into sports without actively participating in it.

The company had reported annual sales of $2.1 billion in China in the last fiscal year while the first quarter 2012 booked Chinese … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Marches Higher By Slovak Vote And Technical Buying

Posted: 12 Oct 2011 09:33 AM PDT

The EURUSD has been aided by Slovak opposition party agreement to approve the EFSF.  Prior to that, firm technical buying (led by additional short covering) has led to another surge higher.  The Slovak opposition leader Fico have announced there will be an early election (as a concession for the Yes vote on EFSF). That will take place in March of 2012.  The ratification will occur by Friday at the latest according to the leader.
 
From a technical perspective, the EURUSD … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SNWV: More Insight Into Why DermaPACE Works

Posted: 12 Oct 2011 09:06 AM PDT

Brian Marckx, CFA
This morning SANUWAVE Health (SNWV) announced that additional data from a clinical trial comparing dermaPACE to hyperbaric oxygen therapy (HBOT) was published in the online edition of Diabetes Research and Clinical Practice.  Data from the initial study titled, Treatment of Diabetic Foot Ulcers: A Comparative Study of Extracorporeal Shockwave Therapy and Hyperbaric Oxygen Therapy, revealed that dermaPACE was more effective than HBOT in healing diabetic foot ulcers … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: AMR, Arris Group Inc, BigBand Networks, First Solar, 99 Cents Only Stores, Newmont Mining Corporation (Holding Company), Netflix, Nucor, Cia Vale Do Rio Doce, Raymond James Financial, Sally Beauty Holdings, Valero Energy, Wausau-Mosinee Paper Corporation

Posted: 12 Oct 2011 09:00 AM PDT

    Gold producer Newmont Mining's (NYSE:NEM) shares fell 1.27% to close at $64.44 after the company announced the name of Gary Goldberg as its new COO. Mr. Goldberg was earlier associated with Rio Tinto (NYSE:RIO)

    Share prices of discount retailer 99 Cents Only Stores (NYSE:NDN) increased 4.39% after the company agreed to be acquired for about $1.6 billion in cash

    Share prices of First Solar Inc (NASDAQ:FSLR) declined 6.47% after Raymond James … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AutoNation Remains Neutral

Posted: 12 Oct 2011 09:00 AM PDT

We have retained a Neutral recommendation on AutoNation, Inc. (NYSE:AN). We appreciate the company's optimal brand and market mix, which is pushing up new vehicle sales as the market revives. However, we are concerned about tough competition and rising interest rates faced by the company.
In the second quarter of the year, AutoNation reported an 18% rise in profits to $73 million or 49 cents per share from $62 million or 38 cents per share in the prior-year quarter.
With this, the automotive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Market In Wait & See Mode

Posted: 12 Oct 2011 09:00 AM PDT

With nothing major on the economic calendar today, the market will likely repeat Tuesday’s performance and remain in a wait-and-see mode for the earnings season to unfold. We had a fairly disappointing start to this reporting cycle on Tuesday, but no one is reading too much into Alcoa’s (NYSE:AA) results. We have a handful of reports today, but it is still early-going on the earnings front. By the end of next week, we should have a good idea of how this season is unfolding.

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

Earnings Scorecard: Costco

Posted: 12 Oct 2011 09:00 AM PDT

Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted fourth-quarter 2011 results.

Street analysts have had nearly a week to ponder the news. In the subsequent paragraphs, we will cover the recent earnings announcement, subsequent analysts' estimate revisions as well as the Zacks Rank and long-term recommendation on the stock.

Earnings Report Review

Costco's quarterly earnings of $1.08 per share missed the Zacks Consensus Estimate by a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PepsiCo Beats, Maintains Outlook

Posted: 12 Oct 2011 09:00 AM PDT

Core earnings for PepsiCo Inc. (NYSE:PEP) climbed 7% in the third quarter to $1.31, compared to last year’s $1.22. The higher earnings were driven by robust revenue growth across its product portfolio. Further, strong pricing partially offset the commodity cost inflation.
Earnings exceeded the Zacks Consensus Estimate by a penny.
The New York-based company reported growth in volume, revenues, operating profit and earnings per share, fueled by top line gains across its worldwide snacks and beverage … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

LTC Buys Healthcare Assets

Posted: 12 Oct 2011 09:00 AM PDT

LTC Properties Inc. (NYSE:LTC), a healthcare real estate investment trust (REIT), has recently acquired a 196-bed skilled nursing facility in Pasadena, Texas for $15.5 million. The acquisition was structured as a sale-lease back transaction, and the property was leased back to a third-party healthcare operator within its existing portfolio pursuant to a 10-year master lease agreement.

In addition, LTC Properties purchased a vacant land parcel in Amarillo, Texas, for $844,000, where it intends to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up At The End Of European Session

Posted: 12 Oct 2011 09:00 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Wednesday after the release of euro zone data on Industrial Production.

EUR/USD was trading at 1.3804, up 1.20% at time of writing.

The pair was likely to find support at 1.3361, Friday's low, and resistance at 1.3817, today's high.

Earlier in the day, official data showed that Industrial production in the euro zone rose unexpectedly to a seasonally adjusted 1.2% last month from 1.1% in the preceding month whose figure was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up Toward The End Of European Session

Posted: 12 Oct 2011 08:40 AM PDT

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

EUR/USD was trading at 1.3801, up 1.18% at time of writing.

The pair was likely to find support at 1.3361, Friday's low, and resistance at 1.3817, today's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.05% to hit 0.8752 and EUR/JPY rising 2.03% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Steady Near $86 As Global Recession Fears Clash With EFSF Expansion Vote Optimism

Posted: 12 Oct 2011 03:30 AM PDT

10/12/11 Front month crude prices were remained steady, remaining only slightly lower as investors juggled global economic recession fears with optimism concerning Slovakia’s EFSF expansion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up Toward The End Of European Session

Posted: 12 Oct 2011 08:20 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Wednesday.

USD/JPY was trading at 77.32, up 0.88% at time of writing.

The pair was likely to find support at 76.32, today's low, and resistance at 77.49, today's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 1.27% to hit 1.3813 and GBP/USD rising 1.27% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up Toward The End Of European Session

Posted: 12 Oct 2011 08:00 AM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Wednesday after the release of U.K. data on Claimant Count Change.

GBP/USD was trading at 1.5776, up 1.28% at time of writing.

The pair was likely to find support at 1.5424, Friday's low, and resistance at 1.5798, today's high.

Earlier in the day, official data showed that the U.K. claimant count change rose less-than-expected to a seasonally adjusted 17.5K last month from 19.1K in the preceding month whose figure was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Higher On EFSF Hopes

Posted: 12 Oct 2011 07:55 AM PDT

10/12/11 US stocks climbed higher as optimism that the Euro-zone would contain its debt woes. Earnings were mixed, with Alcoa and PepsiCo kicking off the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/JPY Up During The European Session

Posted: 12 Oct 2011 07:40 AM PDT

Forexpros – The British Pound was higher against the Japanese Yen on Wednesday after the release of U.K. data on Claimant Count Change.

GBP/JPY was trading at 122.33, up 2.46% at time of writing.

The pair was likely to find support at 118.27, Friday's low, and resistance at 122.36, today's high.

Earlier in the day, official data showed that the U.K. claimant count change rose less-than-expected to a seasonally adjusted 17.5K last month from 19.1K in the preceding month whose figure was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

INTRADE ODDS: Romney Surges, Perry Tanks

Posted: 12 Oct 2011 07:14 AM PDT

Current Intrade Odds: 69.7% for Romney and 10.1% for Perry … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The European Session

Posted: 12 Oct 2011 07:10 AM PDT

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

EUR/USD was trading at 1.3783, up 1.05% at time of writing.

The pair was likely to find support at 1.3361, Friday's low, and resistance at 1.3816, today's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.08% to hit 0.8749 and EUR/JPY rising 1.94% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Up During The European Session

Posted: 12 Oct 2011 06:50 AM PDT

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

NZD/USD was trading at 0.7924, up 1.60% at time of writing.

The pair was likely to find support at 0.7676, Friday's low, and resistance at 0.7966, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.01% to hit 1.2762 and EUR/NZD falling 0.73% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reckless Government Policies, Not Private Greed Caused The Housing Bubble And Financial Crisis

Posted: 12 Oct 2011 06:48 AM PDT

Peter Wallison of the American Enterprise Institute writing in today’s WSJ, explains that the Wall Street protesters have been grossly misled because it was “Reckless government policies, and not private greed, that brought about the housing bubble and resulting financial crisis.” Here’s an excerpt:

“Beginning in 1992, the government required Fannie Mae and Freddie Mac to direct a substantial portion of their mortgage financing to borrowers who were at or below the median income in their … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodity Currencies Surge On Hopes For Euro-zone Debt Crisis Plan

Posted: 12 Oct 2011 06:42 AM PDT

Fundamental Headlines
• Manufacturers See Less U.S. Recession Risk – Bloomberg
• Senate Blocks Obama's $447B Job Creation Plan – Bloomberg
• Euro Crisis, Yuan Sow Discord as G20 Gathers – Reuters
• Juncker Lists 10 Steps to Stem Euro-zone Crisis – Reuters
• Slovakia Set for New Vote Talks – WSJ
European Session Summary
At first glance of the charts from the overnight, trading in Asia and Europe was a tale of two sessions. In the post-North American session and for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Newt Gingrich Talks Sense On Cents

Posted: 12 Oct 2011 06:33 AM PDT

Say what you want about Newt Gingrich but I would challenge anybody who thinks Newt is not an exceptionally intelligent individual. I am not here promoting Newt's candidacy for the Republican nomination. I am also not an apologist for Newt's past personal transgressions.
While I can understand and respect that many people may differ with Newt politically, in this political season I have often witnessed Newt taking on the media and other individuals and groups in a manner consistent with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down During The European Session

Posted: 12 Oct 2011 06:25 AM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Wednesday.

USD/CAD was trading at 1.0164, down 1.32% at time of writing.

The pair was likely to find support at 1.0144, today's low, and resistance at 1.0418, Friday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.88% to hit 1.3760 and GBP/USD rising 0.92% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Focus Returns To Slovakia As Round Two Of EFSF Expansion Voting Awaits

Posted: 12 Oct 2011 01:15 AM PDT

10/12/11 NYFP’s Morning Market Brief: The global markets remain focused on Slovakia again as another vote is expected concerning the expansion of the EFSF. Also, EU industrial production surges and UK enemployment reaches 17-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Desire Petroleum Given New Chance In The Falklands With Rockhopper Farm-in

Posted: 12 Oct 2011 01:53 AM PDT

Shares in oil group Desire Petroleum (LON:DES) jumped this morning on news that Rockhopper (LON:RKH), its partner in the Falkland Islands, had agreed a farm-in deal that will see it drill a new well on Desire's acreage in the coming months. The move is a major boost for Desire, which has had no success from a series of wells in the North Falkland Basin since a drilling campaign began there in early 2010. With no cash for drilling and only the results of a new 3D seismic survey for comfort, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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