Friday, October 7, 2011

DailyMarkets.com - Exxon Seeks Buyer For Brazil Stake

DailyMarkets.com - Exxon Seeks Buyer For Brazil Stake

Exxon Seeks Buyer For Brazil Stake

Posted: 07 Oct 2011 08:05 AM PDT

ExxonMobil Corporation (NYSE:XOM) has opted to divest its 25% share in an offshore Brazilian oil prospect after it drilled a couple of crude oil wells to no avail.
Along with partners, Hess Corporation (NYSE:HES) and Petroleo Brasileiro, aka, Petrobras (NYSE:PBR), Exxon is searching the fourth party for the Brazilian offshore block, BM-S-22. The prospective buyer will have to finance the drilling of one well against Exxon's 25% stake in the block, which has already gained drilling approval from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Highwoods Sells Non-Core Assets

Posted: 07 Oct 2011 07:50 AM PDT

Highwoods Properties Inc. (NYSE:HIW), a real estate investment trust (REIT), has recently sold non-core assets in Winston-Salem for $15.0 million. The asset sale is part of the long-term strategy of the company to exit from Winston-Salem and instead focus on high-growth Sun Belt markets.
The properties sold by Highwoods included a five-storied office building spanning 135,533 square feet of space and an adjacent three-acre undeveloped site. The office property was sold for $13.7 million, while the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Heating Oil Supplies May Tighten As East Coast Refineries Shut Production

Posted: 07 Oct 2011 07:35 AM PDT

Friday, October 7, 2011
Current weather forecasts are calling for below-normal temperatures in the northeast this coming winter, which may spur increased demand for Heating Oil. In addition, the New York law requiring the use of very low sulfur Heating Oil in mid-2012 may lessen demand for the No. 2 Heating Oil that is deliverable against the NYMEX futures contract. Some traders anticipating this scenario may wish to explore buying near-term Heating Oil futures and selling deferred contracts. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Q3 Boeing Delivery Sheet

Posted: 07 Oct 2011 07:35 AM PDT

The international commercial airplane producer, The Boeing Company (NYSE:BA) maintained its delivery level in the third quarter of 2011 with deliveries of 127 airplanes versus 124 in the third quarter of 2010. The 737 model continues to be a major pillar of Boeing's strength in the commercial airplane sector with deliveries of 100 airplanes, followed by its 777 model with 21 deliveries.
Both these models continue to do well due to their fuel efficiency and lower operating costs compared with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Back To The Topside Trendline

Posted: 07 Oct 2011 07:34 AM PDT

The topside trendline comes in currently at the 1.3507 level.   Watch this level … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/JPY Up On U.S. Data

Posted: 07 Oct 2011 07:30 AM PDT

Forexpros – The British Pound was higher against the Japanese Yen on Friday after the release of U.S. data on Nonfarm Payrolls.

GBP/JPY was trading at 119.86, up 1.16% at time of writing.

The pair was likely to find support at 116.99, Thursday's low, and resistance at 120.25, Monday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 103K last month, from 57K in the preceding month whose figure was revised up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Austar Disinvestment Delayed

Posted: 07 Oct 2011 07:20 AM PDT

The proposed disinvestment of Austar United Communications Ltd. by Liberty Global Inc. (NASDAQ:LBTYA) is delayed further. Recently, the Australian Foreign Investment Review Board (FIRB) extended the review of the proposed takeover of Austar by Foxtel for another 3 months. The FIRB is waiting for the Australian regulatory authority to take a firm decision on the proposed merger.
In July 2011, Liberty Global decided to divest its operations in Australia. Austar, in which Liberty Global holds a 54% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Goodrich Acquires Winslow Marine

Posted: 07 Oct 2011 07:05 AM PDT

Goodrich Corporation (NYSE:GR) announced that it has acquired Winslow Marine Products Corporation, a leading provider of life rafts to the corporate aviation, helicopter, and marine markets. The transaction closed on September 30, 2011.
Winslow, a privately-held company, employed approximately 70 people at its Lake Suzy, Florida facility.  Winslow products were used by the leading corporate and business aircraft manufacturers, and are custom-designed to fit in a variety of aircraft interior … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On U.S. Data

Posted: 07 Oct 2011 07:00 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

EUR/USD was trading at 1.3480, up 0.31% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3517, today's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 103K last month, from 57K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Joy Global Issues $500M Notes

Posted: 07 Oct 2011 06:50 AM PDT

Mining equipment manufacturer Joy Global Corporation (NASDAQ:JOYG) issued $500 million unsecured notes yielding 5.125% interest per year and maturing on October 21, 2021. The notes were offered at $99.151 (per $100.00 principal). The new note offering secured a ‘BBB’ rating from Standard & Poor’s Ratings Services.
Joy Global intends to utilize the proceeds of issue to fund in part the acquisition of 41.1% of the outstanding shares of Chinese coal mining equipment maker International Mining … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BSX Begins NECTAR-HF Trial

Posted: 07 Oct 2011 06:35 AM PDT

Boston Scientific Corporation (NYSE:BSX) began enrollment in its NECTAR-HF (NEural Cardiac TherApy foR Heart Failure) clinical trial. The randomized trial is designed to assess preliminary safety and effectiveness of chronic vagal nerve stimulation in heart failure patients.  The study will be conducted on 96 patients with vagal nerve stimulator implants at multiple centers in Europe.  
According to the Principal Investigator of the study, vagus nerve stimulation in the cervical region … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Higher On The Better Employment Report

Posted: 07 Oct 2011 06:34 AM PDT

 
The EURUSD is correcting lower after testing the waters above the 1.3503 channel trendline level (see hourly chart above). The high reached 1.3512 but quickly retreated (only spent a minute above the 1.3503 level).  The correction to the downside is testing the 38.2% of the last leg higher on the 5 minute chart at the 1.3474 level (see chart below). On the hourly chart the same level (1.3474) is the 61.8% of the move down from the September 29th high to the low reached on October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Rotates Back Down As Employment Digested

Posted: 07 Oct 2011 06:34 AM PDT

 Like the EURUSD (see prior post),  the GBPUSD moved higher on the back of the "better" employment data,  but has given back some of the gains and moved back within the channel boundaries. For the GBPUSD below the 1.5563 returns the pair into the channel.  There is support target at the 1.5544 level now.  This is the 61.8% of the move down from the Sept 28th high to the low reached yesterday.    Further support comes in at the 1.5525/28 area … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Between Support (38.2% Retracement) And Resistance (100 Hour MA)

Posted: 07 Oct 2011 06:34 AM PDT

The USDCHF's initial reaction was to the downside (flight out of the risk?  How the USDCHF has changed its tune from flight to quality?) and tested the 38.2% retracement of the move up from the September 29th low to the recent high. That level comes in at the 0.9161 level. On the topside resistance comes in against the 100 hour MA (blue line in the chart above) at the 0.9207 level.  These levels may just contain the price action for the USDCHF for the time being, with a break above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Positive Labor Market Report

Posted: 07 Oct 2011 06:30 AM PDT

This morning’s better-than-expected jobs report adds to the growing list of recent economic readings that is showing positive, albeit below-trend, economic growth in the U.S. economy. This should help in reassuring the markets and further offset some of the recessionary fears.

The Bureau of Labor Statistics reported the creation of 103K jobs in September, significantly better than the roughly 60K expected. Private sector jobs totaled 137K, significantly above the expected 90K level, and an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up On Economic Data

Posted: 07 Oct 2011 06:30 AM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

GBP/USD was trading at 1.5561, up 0.75% at time of writing.

The pair was likely to find support at 1.5272, Thursday's low, and resistance at 1.5599, today's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 103K last month, from 57K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Dollar Slide Continues As Nonfarm Payrolls Ease Recession Fears

Posted: 07 Oct 2011 06:28 AM PDT

Fundamental Headlines
• Obama Seeks Strategy for Jobs Plan Vote to 'Jolt' Economy – Bloomberg
• Germany, France Split on Bank Aid before Summit – Reuters
• Moody's Cuts Credit Ratings on U.K. Banks RBS and Lloyds – Reuters
• Central Banks Step Up Battle to Contain Crisis – WSJ
• The Multibillion-Dollar Leak – WSJ
Pre-North American Data Summary
Even after Asian equity markets rallied, taking their cue from yesterday's strong performance in the major U.S. equity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PPDI To Go Private

Posted: 07 Oct 2011 06:20 AM PDT

Pharmaceutical drug research company Pharmaceutical Product Development, Inc. (NASDAQ:PPDI) recently announced that it has entered into an agreement to be acquired by privately held The Carlyle Group and Hellman & Friedman for $3.9 billion in cash.
PPD shareholders have been offered a cash consideration of $33.25 per share, a premium of 29.6% over the stock's closing price on September 30. The transaction has won unanimous approval of PPD's board while shareholder approval is awaited. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Beacon Roofing Supply, Bruker, Emergent Biosolutions, Edison International, Federated Investors, Corning Incorporated, Constellation Brands, Zumiez

Posted: 07 Oct 2011 06:10 AM PDT

    Share prices of wine maker Constellation Brands Inc. (NYSE:STZ) gained 8.97% to close at $20.40 after the company posted higher profits in its second quarter

    Specialty glass maker Corning Inc.'s (NYSE:GLW) shares advanced 7.14% after the company raised its quarterly dividend

    Shares of OCZ Technology Group Inc. (OCZ) increased 14.29% to close at $5.68 after the company increased its revenue estimates for the fiscal 2011

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

Celgene Treads At Neutral

Posted: 07 Oct 2011 06:05 AM PDT

We continue to have a Neutral recommendation on Celgene Corp. (NASDAQ:CELG), following the release of second quarter 2011 financial results. Celgene's second quarter adjusted earnings of 78 cents per share whiskered past the Zacks Consensus Estimate by a penny. Adjusted revenues climbed 38%, driven by cancer drugs Revlimid and Vidaza. Following the strong showing, Celgene upped its revenue and earnings guidance for 2011.
In 2011, the company expects to earn in the range of $3.45-$3.55 per share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up On Economic Data

Posted: 07 Oct 2011 06:05 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Friday after the release of U.S. data on Nonfarm Payrolls.

USD/JPY was trading at 76.82, up 0.14% at time of writing.

The pair was likely to find support at 76.52, Monday's low, and resistance at 77.21, Monday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 103K last month, from 57K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Credit Facility For Simon Property

Posted: 07 Oct 2011 05:50 AM PDT

Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), has recently obtained a new four-year unsecured revolving credit facility to increase its liquidity. JPMorgan Chase & Co. (NYSE:JPM) and Bank of America Corporation (NYSE:BAC) acted as the Joint Lead Arrangers and Joint Bookrunners for the transaction.
The new credit facility worth $4.0 billion bears a base interest rate of 100 basis points over LIBOR. The credit facility is scheduled to mature on October 30, 2015 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On Economic Data

Posted: 07 Oct 2011 05:45 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

EUR/USD was trading at 1.3484, up 0.34% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3517, today's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose more-than-expected to a seasonally adjusted 103K last month, from 57K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NRG Energy On Acquisition Spree

Posted: 07 Oct 2011 05:40 AM PDT

NRG Energy Inc. (NYSE:NRG) recently completed the purchase of a 250-megawatt (MW) solar project from SunPower Corp. (SPWRA). Located in Southern California, SunPower's California Valley Solar Ranch (CVSR) project is backed by a loan guarantee of up to $1.237 billion from the Department of Energy's Loan Programs Office. Also, NRG Energy completed the previously announced acquisition of Energy Plus Holdings LLC, adding a unique and compelling sales channel to its retail portfolio.
NRG Energy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Unemployment Rate Remains Unchanged

Posted: 07 Oct 2011 05:40 AM PDT

Forexpros – The rate of unemployment in the U.S. last month remained unchanged, official data showed on Friday.

In a report, the U.S. Department of Labor said the unemployment rate remained unchanged at a seasonally adjusted 9.1%, from 9.1% in the preceding month .

Analysts had expected the U.S. unemployment rate to remain unchanged at 9.1% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Non-farm Payrolls Rise More-than-expected

Posted: 07 Oct 2011 05:35 AM PDT

Forexpros – U.S. non-farm payrolls rose more-than-expected last month, official data showed on Friday.

In a report, the U.S. Department of Labor said non-farm payrolls rose to a seasonally adjusted 103K, from 57K in the preceding month whose figure was revised up from 0K.

Analysts had expected U.S. non-farm payrolls to rise 53K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

W.W. Grainger Remains Neutral

Posted: 07 Oct 2011 05:20 AM PDT

We reiterate our Neutral recommendation on W.W. Grainger Inc. (NYSE:GWW), which is a leading North American distributor of material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, forestry and agriculture equipment, building and home inspection supplies, vehicle and fleet components, and various aftermarket components; and services comprising inventory management and energy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down In European Trading Hours

Posted: 07 Oct 2011 05:20 AM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Friday after the release of Canadian data on Employment Change.

USD/CAD was trading at 1.0356, down 0.16% at time of writing.

The pair was likely to find support at 1.0327, today's low, and resistance at 1.0657, Tuesday's high.

Earlier in the day, official data showed that Canadian employment change rose more-than-expected to a seasonally adjusted 60.9K last month from -5.5K in the preceding month.

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

Xerox Acquires Symcor In U.S.

Posted: 07 Oct 2011 05:15 AM PDT

Xerox Corp. (NYSE:XRX) recently announced that one of its fully owned subsidiaries, ACS, has acquired Symcor's U.S. operations, marking Xerox's expansion in the financial services industry.
Symcor is one of North America's largest outsourcers of financial processing services with products ranging from item processing, statement processing, statement production to cash management services. With the replacement of paper-based operations in the financial institutions with the electronics … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Down During The European Session

Posted: 07 Oct 2011 05:00 AM PDT

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

EUR/GBP was trading at 0.8650, down 0.58% at time of writing.

The pair was likely to find support at 0.8531, Monday's low, and resistance at 0.8734, Thursday's high.

Meanwhile, the Euro was up against the U.S. Dollar and down against the Japanese Yen, with EUR/USD gaining 0.001% to hit 1.3438 and EUR/JPY falling 0.05% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down On Economic Data

Posted: 07 Oct 2011 04:15 AM PDT

Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Friday after the release of Canadian data on Employment Change.

USD/CAD was trading at 1.0352, down 0.20% at time of writing.

The pair was likely to find support at 1.0333, today's low, and resistance at 1.0657, Tuesday's high.

Earlier in the day, official data showed that Canadian employment change rose more-than-expected to a seasonally adjusted 60.9K last month from -5.5K in the preceding month.

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

Canadian Employment Change Rises More-than-expected

Posted: 07 Oct 2011 04:10 AM PDT

Forexpros – Canadian employment change rose more-than-expected last month, official data showed on Friday.

In a report, Statistics Canada said that Canadian employment change rose to a seasonally adjusted 60.9K, from -5.5K in the preceding month.

Analysts had expected Canadian employment change to rise 15.0K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian Unemployment Rate Falls Unexpectedly

Posted: 07 Oct 2011 04:10 AM PDT

Forexpros – The rate of unemployment in Canada fell unexpectedly last month, official data showed on Friday.

In a report, Statistics Canada said that Canadian unemployment rate fell to a seasonally adjusted 7.1%, from 7.3% in the preceding month.

Analysts had expected Canadian unemployment rate to remain unchanged at 7.3% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Proof Of Income On Mortgage For Self-Employed Is A B—h!

Posted: 07 Oct 2011 03:11 AM PDT

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


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