Thursday, October 27, 2011

DailyMarkets.com - Exxon Outperforms In 3Q

DailyMarkets.com - Exxon Outperforms In 3Q


Exxon Outperforms In 3Q

Posted: 27 Oct 2011 12:05 PM PDT

U.S.energy behemoth ExxonMobil Corp. (NYSE:XOM) posted third quarter 2011 earnings of $2.13 per share, showing a substantial improvement from the year-earlier earnings of $1.44. However, the company's earnings barely managed to beat the Zacks Consensus Estimate of $2.11.
The company's adjusted earnings shot up 40.5% year over year to $10.3 billion from $7.5 billion, driven by higher commodity price realizations and improved refinery margins.
Total revenue in the quarter registered a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Coca-Cola Beats On Bottom Line

Posted: 27 Oct 2011 12:05 PM PDT

Coca-Cola Enterprises Inc.’s (NYSE:CCE) third-quarter 2011 adjusted earnings of 72 cents per share outpaced the Zacks Consensus Estimate of 69 cents. This also compares favorably with earnings of 60 cents in the year-ago quarter. A solid volume growth coupled with price increases and favorable currency translation effect led Coca-Cola Enterprises to deliver better-than-expected quarterly result.
The results for the reported quarter include operations of Norway and Sweden, excluding the North … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Starwood Beats Ests, Guides Higher

Posted: 27 Oct 2011 12:00 PM PDT

Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) has reported third-quarter 2011 adjusted earnings from continuing operations of 42 cents, which surpassed the Zacks Consensus Estimate of 39 cents and topped the company's guidance range of 36 cents to 40 cents. Adjusted earnings exclude the benefit of approximately 18 cents from the favorable settlement of an IRS audit. 
On a reported basis, earnings from continuing operations were 60 cents compared to 25 cents in the third quarter of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


American Capital Reports Strong

Posted: 27 Oct 2011 12:00 PM PDT

American Capital Agency Corp. (NASDAQ:AGNC), a real estate investment trust (REIT) that focuses on investments in mortgage pass-through securities and collateralized mortgage obligations (CMOs), reported earnings of $1.39 per share during third quarter 2011, compared to $1.69 in the year-earlier quarter. Excluding one-time items, recurring net income for the reported quarter was $1.23 per share.
The company generated total revenues of $326.8 million during third quarter 2011 compared to $62.6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Abaxis Beats, Margins Down

Posted: 27 Oct 2011 11:50 AM PDT

Abaxis Inc. (NASDAQ:ABAX) reported second quarter 2012 EPS of 15 cents, missing the year-ago quarter EPS by 2 cents, but ahead of the Zacks Consensus Estimate of 13 cents.
Net sales during the quarter increased 13% year over year to $40 million, beating the Zacks Consensus Estimate of $38 million. The growth was based on higher sales in both North America (up 8% to $31.9 million) and in the international market (up 39.9% to $8.0 million).
Within the customer group, Veterinary market revenues … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CTS Returns To Form

Posted: 27 Oct 2011 11:35 AM PDT

CTS Returns to Form
Ken Nagy, CFA
On October 25, 2011, CTS Corporation (CTS), the designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs, reported financial results for its fiscal 2011 third quarter, ended October 2, 2011.

The solid third quarter resulted in a nearly 5 percent increase in year over year revenues to $146.070 million which compares to revenues of $139.362 million for the three months ended October 3, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Scorecard: Forest Labs

Posted: 27 Oct 2011 11:35 AM PDT

Following the release of second quarter fiscal 2012 results on October 18, 2011, most of the analysts covering Forest Laboratories (NYSE:FRX) have made downward revisions to their earnings estimates for fiscal 2012 and 2013. The downward revision in estimates is mainly in response to the company's disappointing performance in the recently reported quarter and concerns regarding the company's ability to achieve guidance.
Second Quarter Highlights
Forest Labs reported disappointing second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CEMIG To Acquire Stake In Belo Monte

Posted: 27 Oct 2011 11:20 AM PDT

Companhia Energetica de Minas Gerais (NYSE:CIG), also known as CEMIG, recently announced to have entered into an agreement to acquire equity interest in Belo Monte Hydroelectric Plant. The proposed dam on the Xingu River, in the state of Para, Brazil, has a planned installed capacity of 11,233 MW. Upon completion, Belo Monte will be the second-largest hydroelectric dam complex in Brazil and the third-largest in installed capacity in the world.
Cemig via its affiliate company AmazĂ´nia Energia … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Hershey’s Meets Estimates

Posted: 27 Oct 2011 11:20 AM PDT

The Hershey Company (NYSE:HSY) has posted adjusted quarterly earnings of 84 cents a share in its third-quarter 2011 financial results, in line with the Zacks Consensus Estimate. However, it surpassed the prior-year adjusted earnings of 79 cents per share.

On a reported basis, earnings for the quarter came in at 86 cents, up from 78 cents per share delivered in the year-ago quarter.

The adjusted earnings in the third quarter of 2011 exclude net pre-tax charges of $13.5 million or 3 cents per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Preview: Triumph Group Inc.

Posted: 27 Oct 2011 11:10 AM PDT

Triumph Group Inc. (NYSE:TGI) will report its second-quarter 2012 earnings on Monday, October 31, 2011, after the market closes.
The current Zacks Consensus Estimate for earnings per share (EPS) is $1.04, representing an annualized growth of 22.25%.  
With respect to earnings surprises over the trailing four quarters, TGI outperformed the Zacks Consensus Estimate in three quarters and was in line in one; leading to an average earnings surprise of 11.60%. The average earnings surprise implies … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Altria In-Line, Gives Outlook

Posted: 27 Oct 2011 11:10 AM PDT

Altria Group Inc. (NYSE:MO) posted adjusted earnings of 56 cents per share in the third quarter of 2011, in line with the Zacks Consensus Estimate. However, it was up 3.7% from the prior-year quarter. The quarter benefited from strong performance of its businesses, new share repurchase, and cost reduction initiatives.

Altria recorded net tax benefits both in the third quarter of 2011 and 2010 excluding the tax impact of the PMCC leveraged lease charge. Therefore, reported EPS increased 5.6% to 57 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


C.H. Robinson Reports In Line

Posted: 27 Oct 2011 10:50 AM PDT

C.H. Robinson Worldwide Inc. (NASDAQ:CHRW) has reported third quarter 2011 earnings per share of 70 cents, at par with the Zacks Consensus Estimate.  Results increased 12.9% from 62 cents in year-ago quarter primarily driven by Intermodal and trucking revenues.
Total revenue in the third quarter increased 11.3% year over year to $2,694.9 million, but missed the Zacks Consensus Estimate of $2, 696 million.
Total operating expenses rose 10.6% year over year to $239.1 million in the third quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


“Relief Rally…market Trading On Fear, Not Fundamentals”

Posted: 27 Oct 2011 10:50 AM PDT

10/27/11 Sunrise Securities’ Ben Willis weighs in on the EU accord and the US Q3 GDP data. Today’s global equity market rally and advance in oil futures are also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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

Posted: 27 Oct 2011 10:45 AM PDT

Forexpros – The New Zealand Dollar was higher against the U.S. Dollar on Thursday after the release of U.S. data on GDP.

NZD/USD was trading at 0.8216, up 2.55% at time of writing.

The pair was likely to find support at 0.7915, Wednesday's low, and resistance at 0.8216, today's high.

Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose more-than-expected to a seasonally adjusted annual rate of 2.5% in the last quarter from 1.3% in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


3Q GDP Report Best In Awhile

Posted: 27 Oct 2011 10:35 AM PDT

Third quarter GDP growth came in at 2.5%. That is slightly above consensus expectations of 2.3% growth. That is almost twice as fast as the 1.3% pace in the second quarter, and over six times as fast as the anemic 0.4% pace in the first quarter.

Further, the quality of the growth was very good, as the change in inventories was a significant drag on growth. Absent the much slower growth in inventories in the third quarter relative to the second, growth would have come in at 3.58%.

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


Weak Benlysta Sales Hurt Human Genome

Posted: 27 Oct 2011 10:30 AM PDT

Human Genome Sciences Inc.'s (NASDAQ:HGSI) third quarter 2011 loss of $0.45 per share was wider than the Zacks Consensus loss estimate by $0.06 and the year-ago loss by $0.23. The wider loss incurred by the biotechnology company was due to lower revenues. The disappointing performance had a negative impact on the company's shares.
Quarter in Detail
Revenues in the reported quarter plummeted 33% to $34.0 million. Revenues fell short of the Zacks Consensus Estimate of $37 million. Disappointing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Sprint Beats Est, Loss Narrows

Posted: 27 Oct 2011 10:30 AM PDT

The third-largest U.S. wireless carrier Sprint Nextel (NYSE:S) has reported a better-than-expected third quarter of 2011. Net loss per share of 10 cents bettered the Zacks Consensus Estimate of a loss of 22 cents.
Consolidated operating revenue grew 2% year over year to $8.33 billion but fell short of the Zacks Consensus Estimate of $8.37 billion. The revenue improvement was driven by strong post-paid average revenue per user (ARPU) and healthy prepaid subscriber additions. The quarter marked the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Markets Close Higher; Dax Up 5.35%

Posted: 27 Oct 2011 10:05 AM PDT

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

At the close of European trade, Germany's DAX rose 5.35%, London's FTSE 100 gained 2.89%, France's CAC 40 climbed 6.28% and the EURO STOXX 50 was up 6.08%.

Earlier in the day, preliminary official data showed that Gross domestic product in the U.S. rose more-than-expected to a seasonally adjusted annual rate of 2.5% in the last quarter from 1.3% in the preceding quarter.

Analysts had expected U.S. gross domestic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Energy Prices Lift Shell

Posted: 27 Oct 2011 10:00 AM PDT

Europe's largest oil company Royal Dutch Shell plc (RDS.A) reported strong third quarter 2011 results, thanks to higher commodity prices and contribution from new projects.
Earnings per ADR (on a current cost of supplies basis), excluding one-time items and gains or losses from inventories, came in at $2.24, significantly ahead of the year-ago result of $1.61 and also the Zacks Consensus Estimate of $2.14. Revenues were up 36.1% to $123.4 billion.
Segmental Performance
Upstream: Upstream … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Japan Adds 5 Trillion To Quantitative Easing Program

Posted: 27 Oct 2011 09:57 AM PDT

The Bank of Japan announced an expansion of its Asset Purchase Program (quantitative easing) of 5 trillion yen, to a new total of 55 trillion yen; with the increase designated for purchase of Japanese government bonds (JGBs).  The Bank said: “some more time will be needed to confirm that price stability is in sight and due attention is needed for the risk that the economic and price outlook will further deteriorate depending on developments in  global financial markets and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Ameriprise Lags On Higher Expenses

Posted: 27 Oct 2011 09:55 AM PDT

Ameriprise Financial Inc.'s (NYSE:AMP) third quarter 2011 operating earnings of $1.04 per share significantly missed the Zacks Consensus Estimate of $1.22 and also compared unfavorably with the year-ago quarter's earnings of $1.35 per share.
Operating results exclude the consolidation of certain investment entities, net realized gains or losses, integration and restructuring charges, market impact on variable annuity guaranteed living benefits and discontinued operations.
Net income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro Rises To 7-week High On European Debt Crisis Resolution Plans

Posted: 27 Oct 2011 04:45 AM PDT

10/27/11 Euro rises this afternoon after EU leaders agree to Greek haircut and EFSF expansion plans, pushing the euro to trade at a 7-week high against the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


RBNZ Keeps Cash Rate On Hold At 2.50%

Posted: 27 Oct 2011 09:37 AM PDT

The Reserve Bank of New Zealand kept the Official Cash Rate (OCR) on hold at 2.50%, noting the impact of global developments.  The Bank Said: “”Given the ongoing global economic and financial risks, it remains prudent to continue to keep the OCR on hold at 2.5 percent for now. However, if global developments have only a mild impact on the New Zealand economy, it is likely that gradually increasing pressure on domestic resources will require future OCR increases.”
Previously the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Currency Loss Sinks Vale

Posted: 27 Oct 2011 09:35 AM PDT

On October 26, Vale S.A (VALE) released its financial results for the third quarter of 2011. The company's net earnings in the quarter were 94 cents per ADR, on a fully diluted basis, down 16.8% compared with $1.13 per ADR in the year-ago quarter, missing the Zacks Consensus Estimate of $1.31 per ADR. The earnings suffered a non-cash impact of US$2.9 billion due to the depreciation of the Brazilian real, against the US dollar.
Revenue
Gross Operating revenue jumped 15.5% year over year to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Waddell & Reed Lags Estimates

Posted: 27 Oct 2011 09:35 AM PDT

Waddell & Reed Financial Inc.'s (NYSE:WDR) third quarter 2011 earnings came in at 46 cents per share, missing the Zacks Consensus Estimate of 51 cents. This also compares unfavorably with earnings of 58 cents per share in the prior quarter and 47 cents per share in the prior-year quarter.
Though Waddell & Reed's results benefited from growth in gross sales across all its revenue channels and lower operating costs, reduction in operating revenue and decline in assets under management … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Markets In Everything: Aerosol E-Book Enhancer

Posted: 27 Oct 2011 09:35 AM PDT

“Does your Kindle leave you feeling like there's something missing from your reading experience? Have you been avoiding e-books because they just don't smell right? If you've been hesitant to jump on the e-book bandwagon, you're not alone. Book lovers everywhere have resisted digital books because they still don't compare to the experience of reading a good old fashioned paper book.

But all of that is changing thanks to Smell of Books, a revolutionary new aerosol e-book … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USD/CHF Follows Through On Head-and-Shoulders Pattern Breakdown

Posted: 27 Oct 2011 09:34 AM PDT

USD/CHF (daily chart) as of Thursday (10/27/2011) has extended its fall substantially after breaking the neckline of a well-formed head-and-shoulders reversal pattern. Thursday's price action saw the pair drop more than 200 pips to hit a 7-week low just below 0.8600, approaching key support in the 0.8550 price region. 0.8550 represents a key level that has been respected several times in the past both as support and as resistance. With price approaching such low levels, bearish momentum off … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Leaps Again….

Posted: 27 Oct 2011 09:34 AM PDT

The EURUSD has leaped yet again, rising to the a new high of 1.4218.  The underside of the trendline at the 1.4210 is the next key target.  Trends remain fast, directional and have large ranges and that continues to be what we are seeing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Preview: Aimco

Posted: 27 Oct 2011 09:05 AM PDT

Apartment Investment & Management Co. (AIV), also known as Aimco, is a real estate investment trust (REIT). The company is scheduled to report its third quarter 2011 earnings before the market opens on October 28, 2011. The current Zacks Consensus Estimate for the third quarter is pegged at 41 cents per share, representing a year-over-year growth of 2.2%.
Second Quarter Recap
Aimco reported funds from operations (FFO) of $32.3 million or 27 cents per share in the second quarter of 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Solta Reports LipoSonix Approval

Posted: 27 Oct 2011 08:55 AM PDT

Aesthetic laser treatments provider Solta Medical (SLTM) reported that Medicis Technologies Corporation, a unit of specialty pharmaceutical company Medicis Pharmaceutical Corporation (NYSE:MRX), has won the U.S. approval for the second-generation LIPOSONIX system for non-invasive waist circumference reduction.
Solta announced, in September 2011, the acquisition of Medicis Technologies Corporation in a deal worth $35 million. The acquisition, which is expected to be completed in fourth-quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


OWS Kitchen Staff Protests “Freeloader Greed”

Posted: 27 Oct 2011 08:41 AM PDT

NEW YORK POST –  “The Occupy Wall Street volunteer kitchen staff launched a "counter" revolution yesterday — because they're angry about working 18-hour days to provide food for "professional homeless" people and ex-cons masquerading as protesters.

For three days beginning tomorrow, the cooks will serve only brown rice and other spartan grub instead of the usual menu of organic chicken and vegetables, spaghetti bolognese, and roasted beet and sheep's-milk-cheese salad. They … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Rally On U.S. GDP Data, EU Debt Plan

Posted: 27 Oct 2011 08:34 AM PDT

Forexpros – Crude oil futures extended sharp gains on Thursday, as better-than-expected U.S. growth data and a European plan to tackle the region’s two-year old debt crisis fuelled a rally in risk-sensitive assets.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD93.11 a barrel during U.S. morning trade, rallying 3.22%.

It earlier rose by as much as 3.5% to trade at a daily high of USD93.72 a barrel.

The U.S. Bureau of Economic Analysis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Is WTI Finally Ready To March On Brent?

Posted: 27 Oct 2011 08:33 AM PDT

Thursday, October 27, 2011
It seems as though the NYMEX Light, Sweet Crude Oil contract has captured the near-term momentum, while the Brent contract has remained relatively steady. Recent economic and geopolitical events suggest that the spread between the contracts may narrow. Technically, the Dec NYMEX contract had a breakout above the 90.00 mark, whereas Brent has moved sideways. Some traders may possibly wish to consider buying the December NYMEX Crude Oil contract and selling the December … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Support At 1.4097 Remains Key Level.

Posted: 27 Oct 2011 08:32 AM PDT

The EURUSD has found sellers above.  The 1.4054 level has slowed the increase. However, the downside remains supported as well.  Specifically, the 1.4097 will be eyed by traders. The level is the 38.2% of the last leg higher.  I like to test the sellers to see if they can push the pair below the 38.2% of the most recent trend surge.  A failure to break this level is a signal that the bulls remain in control. The second reason the level is important is it is bull flag … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Romney Is Right On Housing

Posted: 27 Oct 2011 08:32 AM PDT

While the markets race higher today on the news of the European debt deal, our future economic landscape here in the United States remains squarely focused on the same two sectors today as it did three years ago. Those being, JOBS and HOUSING!!
Our employment problem is a function of many variables, but mostly a reflection of massive structural problems in many sectors of our economy.
On the housing front, far too many in Washington still seem to believe that they can stem the continued … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Time Warner Cable Underperforms

Posted: 27 Oct 2011 08:30 AM PDT

Time Warner Cable Inc. (NYSE:TWC) reported weak third-quarter 2011 financial results, which fell below the Zacks Consensus Estimates. Moreover, we remain concerned regarding the continuation of massive subscriber loss in its core video segment.
Quarterly GAAP net income was $356 million or $1.08 per share compared with a net income of $360 million or $1.00 per share in the prior-year quarter. Third-quarter 2011 adjusted (excluding special items) EPS of $1.10 was well below the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Tumbles Vs. Rivals As Risk Appetite Sharpens

Posted: 27 Oct 2011 08:30 AM PDT

Forexpros – The U.S. dollar extended steep losses against its major counterparts on Thursday, as stronger-than-expected U.S. third quarter GDP data and an agreement by European leaders on a plan to tackle the debt crisis in the euro zone curbed demand for the safe-haven greenback.

During U.S. morning trade, the dollar was sharply lower against the euro, with EUR/USD jumping 1.89% to hit 1.4169.

The euro strengthened broadly earlier after European leaders announced that they reached an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


The Top Ten Richest Celebrities Supporting OWS Have A Combined Net Worth Of $1.255 Billion

Posted: 27 Oct 2011 08:25 AM PDT

Here’s the breakdown, starting with Yoko Ono, who is worth $500 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Hits 7-week High On Broad Risk Rally

Posted: 27 Oct 2011 08:22 AM PDT

Forexpros – The pound extended gains against the U.S. dollar on Thursday, rising to a seven-week high as risk appetite remained strong after upbeat U.S. GDP data and the announcement of a European deal to contain the region’s debt crisis.

GBP/USD hit 1.6083 during U.S. morning trade, the pair’s highest since September 6; the pair subsequently consolidated at 1.6062, gaining 0.54%.

The pair was likely to find support at 1.5899, the low of October 24 and resistance at 1.6166, the high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CNOOC Sales Rise, Volume Falls

Posted: 27 Oct 2011 08:15 AM PDT

Chinese offshore giant CNOOC Ltd. (NYSE:CEO) reported third quarter 2011 total revenue of 46.52 billion yuan ($7.27 billion), up almost 23% from the year-earlier level. Out of the total revenue, more than 92% came from oil and liquids sales, which amounted to 42.90 billion yuan ($6.68 billion), up nearly 24%. The results were driven by strong oil price realizations.
Production
CNOOC achieved net production of 80.9 million barrels of oil equivalent (MMBoe), down 9.1% from the year-ago level of 89 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Hits 5-week High Boosted By Broadly Weaker U.S. Dollar

Posted: 27 Oct 2011 08:11 AM PDT

Forexpros – Gold futures edged higher in choppy trade on Thursday, climbing to a five-week high boosted by a broadly weaker U.S. dollar, but gains were limited after better-than-expected U.S. GDP data and a European plan to tackle the region’s two-year old debt crisis dented the metal's safe haven appeal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,728.45 a troy ounce during U.S. morning trade, gaining 0.33%.

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


Forex – EUR/USD Jumps To 7-week High In Risk-on Trade

Posted: 27 Oct 2011 08:04 AM PDT

Forexpros – The euro rallied against the U.S. dollar on Thursday, advancing to a fresh seven-week high as risk appetite sharpened after better-than-expected U.S. GDP data and after European leaders agreed a plan to counter the debt crisis in the euro zone.

EUR/USD hit 1.4149 during U.S. morning trade, the pair's highest since September 6; the pair subsequently consolidated at 1.4137, jumping 1.66%.

The pair was likely to find support at 1.3975, Wednesday's high and resistance at 1.4245, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Wall Street Rallies On EU Accord

Posted: 27 Oct 2011 08:00 AM PDT

10/27/11 The US equity averages soared over +2%, tracking global equity averages higher. Euro-zone leaders agreed to resolve the region’s debt crisis, while US GDP rose 2.5% in the third … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Natural Gas Futures Add To Losses After U.S. Supply Data

Posted: 27 Oct 2011 07:50 AM PDT

Forexpros – Natural gas futures added to losses on Thursday, slumping to a three-day low after the U.S. Energy Information Administration said that natural gas inventories rose more-than-expected last week.

On the New York Mercantile Exchange, natural gas futures for delivery in November traded at USD3.545 per million British thermal units during U.S. morning trade, dropping 1.06%.

The November natural gas contract is due to expire at the end of trading Thursday.

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


Forex – USD/CAD Hits 5-week Low On U.S. GDP, EU Plan

Posted: 27 Oct 2011 07:29 AM PDT

Forexpros – The broadly weaker U.S. dollar traded below parity against its Canadian counterpart on Thursday, dropping to a five week low as better-than-expected U.S. GDP data and a European plan to tackle the region’s two-year old debt crisis fuelled a rally in risk-sensitive assets.

USD/CAD hit 0.9915 during U.S. morning trade, the pair's lowest since September 21; the pair subsequently consolidated at 0.9945, tumbling 0.96%.

The pair was likely to find short-term support at 0.9908, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Stocks Rally On EU Debt Plan; Dow Jones Jumps 2.04%

Posted: 27 Oct 2011 07:18 AM PDT

Forexpros – U.S. stocks were sharply higher on Thursday, as the New York Stock Exchange and NYSE Amex Cash Markets invoked Rule 48 after European Union leaders struck a deal to contain the region’s debt crisis.

During early U.S. trade, the Dow Jones Industrial Average jumped 2.04%, the S&P 500 index soared 2.31%, while the Nasdaq Composite index climbed 1.91%.

NYSE invoked the volatility rule after European leaders reached an agreement with private banks on a voluntary 50% reduction of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Surges More Than 3% On EU Summit Results, Rise In Euro Currency

Posted: 27 Oct 2011 02:10 AM PDT

10/27/11 Front month crude prices rallied this morning after European leaders agreed to a Greek haircut and EFSF extension late last night which also helped push the euro higher in the forex … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S Pending Home Sales Drop Unexpectedly In September

Posted: 27 Oct 2011 07:07 AM PDT

Forexpros – Pending home sales in the U.S. fell unexpectedly in September, declining for the third consecutive month, industry data showed on Thursday.

In a report, the National Association of Realtors said its pending home sales index fell by 4.6% in September, after dropping by 1.2% in August.

Analysts had expected pending home sales to rise by 0.2% in September.

Year-over-year, U.S. pending home sales advanced at an annualized rate of 7.9%, falling short of expectations for a gain of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro-zone Summit Results Sparks Risk Rally; Aussie Top Performer

Posted: 27 Oct 2011 06:32 AM PDT

Fundamental Headlines
• Banks Bow to 'Last Word' From Merkel on Greek Debt – Bloomberg
• EU Banks Must Raise $147B of Extra Capital, EBA Says – Bloomberg
• EU Sets 50% Greek Write-down, $1.4T in Rescue Fund – Bloomberg
• Consumers, Businesses Pump up Q3 Growth – Reuters
• EU Forges Greek Bond Deal – WSJ
European Session Summary
The long-awaited day has finally come. European leaders concluded their summit in Brussels with a 02:00 GMT press conference that is the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Greek Haircuts, EFSF Extension And Talks Of Chinese Recap Assistance Leads To Global Market Rally

Posted: 27 Oct 2011 01:15 AM PDT

10/27/11 NYFP’s Morning Market Brief: It was a global market rally today as EU leaders agreed to a Greek debt haircut, an extension of the EFSF, and reports surfaced of a recapitalization plan involving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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