Wednesday, October 26, 2011

DailyMarkets.com - First Solar Lags, Guides 2011

DailyMarkets.com - First Solar Lags, Guides 2011

First Solar Lags, Guides 2011

Posted: 26 Oct 2011 11:50 AM PDT

First Solar Inc. (NASDAQ:FSLR) reported third quarter 2011 results with earnings of $2.25 per share, 42 cents below the Zacks Consensus Estimate of $2.67. Earnings were, however, 10.3% higher than $2.04 earned in the year-ago quarter.
Operational Performance
First Solar's quarterly revenues were $1.005 billion, up from the year-ago revenue of $0.797 billion. The top line also failed to meet the Zacks Consensus estimate of $1.022 billion.
Cost of sales increased to $626 million in the quarter to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: EU-A-Thon Needs A Jerry Lewis

Posted: 26 Oct 2011 11:33 AM PDT

Cusick’s Corner
Next thing you know they’ll ask Jerry Lewis, the famous telethon host, to sit in on the “EU-A-Thon” talks in hopes of raising $2.7 trillion. This is a tough market, or at the very least one of those frustrating moments, like when you have a slow moving car in the fast lane, then change lanes only to get caught in even slower traffic. When I look out at the landscape and view the volatility that is in this market, VIX at 32, it feels moderate at this stage and often when I see … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing 3Q For Hudson City

Posted: 26 Oct 2011 11:30 AM PDT

Hudson City Bancorp Inc.'s (NASDAQ:HCBK) third quarter 2011 operating earnings came in at 17 cents per share, missing the Zacks Consensus Estimate of 18 cents as well as the year-ago quarter earnings of 25 cents per share.
Hudson City reported operating income of $84.2 million compared with $124.6 million in the prior-year quarter. Operating earnings were primarily affected by lower interest and dividend income, substantial decrease in non-interest income and increased non-interest expense, partly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Life Technologies Beats On Robust Top Line

Posted: 26 Oct 2011 11:15 AM PDT

Life Technologies Corporation (LIFE) reported an EPS of 94 cents in the third quarter of fiscal 2011, beating both the Zacks Consensus Estimate of 88 cents and the year-ago quarter's adjusted EPS of 87 cents.

Revenues increased 7% year over year to $929 million, surpassing the Zacks Consensus Estimate of $916 million. Excluding the impact of foreign exchange movement, revenue growth for the quarter was 4%. On a geographical basis, revenue growth was witnessed across Europe – 5%, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Dynamics’ Mixed 3Q

Posted: 26 Oct 2011 11:05 AM PDT

Defense and aerospace operator General Dynamics Corporation (NYSE:GD) announced third-quarter 2011 operating earnings of $1.83 per share, which surpassed the Zacks Consensus Estimate of $1.77. The results of the company were 13 cents ahead of the year-ago figure of $1.70 per share.
Total Revenue
General Dynamics generated total revenue of $7.85 million in the reported quarter versus $8.01 million in the year-ago quarter, reflecting a decline of 2.0%. The year-over-year decline in revenue was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MeadWestvaco Reports Strong 3Q

Posted: 26 Oct 2011 10:50 AM PDT

MeadWestvaco Corporation (NYSE:MWV) reported net income from continuing operations of $117 million or 67 cents per share in the third quarter of 2011 compared with $109 million or 63 cents per share in the year-ago quarter.
Reported earnings in the quarter included after-tax restructuring charges of $4 million or 3 cents per share versus a tax benefit of $15 million or 9 cents per share related to cellulosic biofuel producer credits, after-tax restructuring charges of $10 million or 6 cents per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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

Posted: 26 Oct 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Wednesday after the release of U.S. data on New Home Sales.

USD/JPY was trading at 75.99, down 0.14% at time of writing.

The pair was likely to find support at 75.72, today's low, and resistance at 76.88, Friday's high.

Earlier in the day, official data showed that new home sales in the U.S. rose more-than-expected to a seasonally adjusted annual rate of 313K last month from 296K in the preceding month whose figure was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests The 1.3848 Level For The Second Time. 1.3865 Is 100 Hour MA

Posted: 26 Oct 2011 10:34 AM PDT

The EURUSD moved up and tested yesterday's low at the 1.3848 level for the 2nd time since the break lower. The high reached 1.3851 and has come back lower. On the downside, the market has not been able to push the price below the 200 hour MA and/or the 50% of the move up frm the October 20th low at the 1.3822 and 1.38148 level respectively.
On the topside a move above the 100 hour MA at the 1.3865 would not be welcomed by the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Exelon Beats EPS, Guides 2011

Posted: 26 Oct 2011 10:30 AM PDT

Exelon Corporation (NYSE:EXC) announced third-quarter 2011 operating earnings of $1.12 per share, up from $1.11 per share in the year-ago quarter and ahead of the Zacks Consensus Estimate of $1.09. Results also exceeded the guided range of $1.00 to $1.10 per share.
The year-over-year growth in earnings was largely attributable to favorable effect at Exelon Generation Company, LLC (Generation) of higher energy margins due to the expiration of the power purchase agreement with PECO and favorable … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mylan Tops On All Fronts

Posted: 26 Oct 2011 10:20 AM PDT

Mylan Inc.'s (NYSE:MYL) third quarter 2011 earnings (excluding special items) of $0.55 per share surpassed the Zacks Consensus Estimate by $0.04 and the year-ago earnings by $0.12 per share. Earnings were boosted by higher revenues in the third quarter of 2011.

Quarter in Details

Total revenues at Mylan climbed 16.2% to $1.58 billion driven by the positive impact of foreign exchange (Fx). Revenues were also ahead of the Zacks Consensus Estimate of $1.54 billion. Net revenues as well as other … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“All Eyes On Europe…may Have More Room To Downside”

Posted: 26 Oct 2011 10:20 AM PDT

10/26/11 Meridian Equity Partners’ Joseph Greco weighs in on today’s action in equities, and discusses the latest economic data and fluctuations in commodities … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Avery Dennison’s Profits Slip

Posted: 26 Oct 2011 10:15 AM PDT

Avery Dennison Corporation (NYSE:AVY) reported net income of $49.8 million or 47 cents per share in the third quarter of fiscal 2011, down considerably from $64.2 million or 60 cents per share delivered in the year-ago quarter.
The company incurred restructuring costs of $1.7 million or 1 cent and $1.8 million or 2 cents in the reported quarter and the year-ago quarter, respectively. Excluding these charges, Avery Dennison's adjusted income in the quarter stood at $51.5 million or 48 cents … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Penn Virginia EPS Misses

Posted: 26 Oct 2011 10:05 AM PDT

Penn Virginia Resource Partners L.P. (NYSE:PVR) reported third quarter 2011 operating results and raised its quarterly cash distribution to 50 cents per unit. Penn Virginia's adjusted third-quarter earnings were 29 cents per unit, below the Zacks Consensus estimate of 42 cents and the year-ago earnings of 49 cents.

Total Revenue

Penn Virginia Resource's total operating revenue of $308.4 million for the third quarter improved 38.4% from $222.8 million reported in the year-ago period, driven … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Mixed At Close; Dax Down 0.51%

Posted: 26 Oct 2011 10:05 AM PDT

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

At the close of European trade, Germany's DAX fell 0.51%, London's FTSE 100 gained 0.50%, France's CAC 40 declined 0.15% and the EURO STOXX 50 was down 0.38%.

Earlier in the day, official data showed that U.S. core durable goods orders rose more-than-expected to a seasonally adjusted 1.7% last month from -0.4% in the preceding month whose figure was revised down from -0.1%.

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

Transportation Pulls Down Durable Goods

Posted: 26 Oct 2011 10:00 AM PDT

New Orders for Durable Goods dropped 0.8% in August. That was slightly better than the consensus expectations of a 1.0% drop. The August headline numbers were unrevised (fairly unusual for this series) at a 0.1% decline.

The Durable Good series is often very volatile from month to month. While the headline number was better than expected, it is still a back to back drop which is not what we want to see. However, when we scratch below the surface, this was not a bad report.

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

Sealed Air Misses By A Penny

Posted: 26 Oct 2011 10:00 AM PDT

Sealed Air Corporation (NYSE:SEE) has reported its fiscal 2011 third quarter results posting an adjusted EPS of 48 cents versus 43 cents in the prior year quarter and a penny below the Zacks Consensus Estimate.
The quarter noted net costs related to the acquisition of Diversey of 7 cents per share. Including this, the EPS amounted to 48 cents versus 43 cents in the year-ago quarter.
Total revenue in the reported quarter increased 10% year over year to $1.25 billion in the quarter, slightly above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Slides On Reports EU Leaders And Banks Can’t Agree On Greek Debt Write Off

Posted: 26 Oct 2011 10:00 AM PDT

10/26/11 The euro has reversed earlier gains this afternoon on reports that EU leaders and regional banks cannot agree on how much of Greece’s debt should be written … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Cerner

Posted: 26 Oct 2011 09:50 AM PDT

Leading electronic health record ("EHR") and healthcare IT ("HCIT") services provider Cerner (NASDAQ:CERN) is expected to report third-quarter 2011 results on Thursday, October 27. The current Zacks Consensus Estimate is 45 cents, representing a 26.16% annualized increase.
Second Quarter Flashback
The company's second-quarter 2011 earnings per share of 42 cents beat the Zacks Consensus Estimate by a penny. Cerner had revenues of $524.2 million in the quarter, which was better than the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Boeing Beats EPS, Raises Guidance

Posted: 26 Oct 2011 09:40 AM PDT

The Boeing Company (NYSE:BA), riding on strong operational performance reported strong numbers for the third quarter of 2011. In the reported quarter, the company posted quarterly earnings of $1.46 per share, beating the Zacks Consensus Estimate of $1.11 a share as well as the year-ago earnings of $1.12.
Operating Statistics
On the revenue front, quarterly revenues increased 4% year over year to $17.73 billion, primarily attributable to higher commercial airplane deliveries. Reported revenues, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ford Beats, But Profit Falls 3.5%

Posted: 26 Oct 2011 09:35 AM PDT

Ford Motor Co. (NYSE:F) posted a $66 million or 3.5% fall in profit to $1.85 billion in the third quarter of the year from $1.91 billion in the same quarter of prior year. However, on per share basis, earnings were 46 cents versus 48 cents a year ago, beating the Zacks Consensus Estimate of 44 cents.
The decline in profit was attributable to fall in commodity prices and anticipated reductions in Financial Services results.
Total revenues went up $4.1 billion or 14.1% to $33.1 billion. This … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Southern Company 3Q Earnings Up

Posted: 26 Oct 2011 09:35 AM PDT

Electric utility firm Southern Co. (SO) reported third quarter 2011 earnings per share (EPS) of $1.07, ahead of the Zacks Consensus Estimate of $1.04 and the year-ago period profit of 98 cents. The outperformance reflects industrial sector growth and the positive effects of regulatory actions in Georgia.
Quarterly revenue, at $5,428 million, was up 2.0% year over year but came below the Zacks Consensus Estimate of $5,813 million.
Despite the EPS beat, the company's results were adversely … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USD/JPY Hits New All-Time Low Within Bearish Trend Channel

Posted: 26 Oct 2011 09:32 AM PDT

USD/JPY (daily chart) as of Wednesday (10/26/2011) has hit yet a new all-time low below 76.00, reaching down to 75.70 in Wednesday's trading. This bearish price action conforms to a bearish trend channel that extends back to the early April high around 85.50. The downtrend channel has prompted the pair to drop below successively lower support levels, including the key 80.00 and 78.00 levels. Japanese intervention notwithstanding, further downside momentum below the key 76.00 level within the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Corrects Off The Lows. Corrective Resistance At 1.3846 And 1.3865 Eyed

Posted: 26 Oct 2011 09:32 AM PDT

The EURUSD has found profit taking buyers after falling below the 200 hour MA and the 50% retracement level at the 1.3814 and 1.3822 level.   This move below the level led to quick selling that took the price to the low for the day at the 1.3798 level.   The move below that level was short lived and a correction higher ensued. 
Now traders will be looking for the clues from the sellers that they mean business  to the downside. That will come if the price can stay … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Medco’s EPS Beats, Revenue In Line

Posted: 26 Oct 2011 09:25 AM PDT

Medco Health Solutions (NYSE:MHS) reported EPS of 90 cents (96 cents excluding $36.6 million expenses associated with the pending Express Scripts merger) during the third quarter of fiscal 2011, up 12.9% from the year-ago quarter EPS of 85 cents. After adjusting for amortization of intangible assets and merger-related expenses, the company's adjusted EPS came in at $1.07, beating the Zacks Consensus Estimate by 2 cents and 12.6% higher than the year-ago quarter level.
Medco recorded an increase … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cartoon Of The Day: Where To Find The Real 1%

Posted: 26 Oct 2011 09:24 AM PDT

Boston Properties Beats Estimates

Posted: 26 Oct 2011 09:05 AM PDT

Boston Properties Inc. (NYSE:BXP), one of the leading real estate investment trusts (REITs), reported third quarter 2011 FFO (funds from operations) of $190.3 million or $1.28 per share, compared with $150.8 million or $1.07 per share in the year-earlier quarter. Fund 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 reported FFO for the quarter surpassed the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AWSR

Posted: 26 Oct 2011 09:00 AM PDT

AWSR – Adding a loadout facility:
Ian Gilson, CFA
      
America West Resources (AWSR) has announced the lease purchase of the Wildcat loadout facility that is about eight miles from the Horizon mine. Coal will be transferred from the mine by truck to the facility where it will be sorted and loaded into trucks or railcars. This will reduce current shipping costs since the loadout is closer to the mine (eight miles) than the current railhead (25 miles) and increase the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Decline With Inventory Data In Focus

Posted: 26 Oct 2011 08:51 AM PDT

Forexpros – Natural gas futures were down on Wednesday, giving back most of the previous day's gains as concerns over prospects for rising U.S. inventory levels outweighed forecasts showing colder-than-normal weather across the U.S.

On the New York Mercantile Exchange, natural gas futures for December delivery traded at USD3.812 per million British thermal units during U.S. morning trade, dropping 1.03%.

It earlier fell by as much as 1.35% to trade at a daily low of USD3.803 per million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Robert Half Reports Strong 3Q

Posted: 26 Oct 2011 08:50 AM PDT

Robert Half International Inc. (NYSE:RHI), a leading global staffing and risk consulting services provider, reported solid third quarter earnings of $44.2 million or 31 cents a share, up considerably from $20.6 million or 14 cents a share in the year-earlier quarter. Earnings per share also exceeded the Zacks Consensus Estimate of 28 cents.
Profits were primarily driven by continued demand for professional staffing and consulting services. Further, Robert Half registered sequential as well as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher As EU Statement On Tap

Posted: 26 Oct 2011 08:49 AM PDT

Forexpros – The U.S. dollar turned broadly higher against its major counterparts on Wednesday, as risk aversion mounted ahead of a keenly anticipated statement from European Union leaders.

During U.S. morning trade, the greenback was up against the euro, with EUR/USD shedding 0.51% to hit 1.3834.

Expectations that European leaders would unveil a plan to contain the debt crisis in the region were tempered after Bloomberg reported that talks between EU officials and banks over Greek bonds … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Illumina In Line With Estimates

Posted: 26 Oct 2011 08:35 AM PDT

Illumina (NASDAQ:ILMN) reported EPS of 15 cents in the third quarter of 2011, well below the year-ago quarter EPS of 24 cents. However, after adjusting for certain one-time items, EPS came in at 22 cents, in line with the Zacks Consensus Estimate but 26.6% lower than prior-year quarter.
Revenues dipped 1% year over year to $235.5 million, and were in line with the Zacks Consensus Estimate. This was primarily due to a 1.9% decline in the product revenues, partly offset by a 20.3% rise in service … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Extends Losses On EU Doubts

Posted: 26 Oct 2011 08:33 AM PDT

Forexpros – The pound extended losses against the U.S. dollar on Wednesday, falling to a three-day low amid growing uncertainty over the capacity of European leaders to agree on a viable solution to the region’s debt crisis.

GBP/USD hit 1.5898 during U.S. morning trade, the pair’s lowest since October 21; the pair subsequently consolidated at 1.5897, sliding 0.63%.

The pair was likely to find support at 1.5753, the low of October 21 and resistance at 1.6082, the high of September 8.

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

Gold Futures Add To Gains Amid EU Uncertainty

Posted: 26 Oct 2011 08:31 AM PDT

Forexpros – Gold futures added to gains on Wednesday, rallying to a fresh one-month high as uncertainty over the outcome of key European talks on the region’s debt crisis boosted safe haven demand for the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,719.95 a troy ounce during U.S. morning trade, climbing 1.15%.

It earlier rose by as much as 1.3% to trade at USD1,724.35 a troy ounce, the highest price since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Weak 3Q For Conceptus

Posted: 26 Oct 2011 08:15 AM PDT

Contraception device maker, Conceptus Inc. (NASDAQ:CPTS) reported net loss of 9 cents per share during the third quarter of fiscal 2011. However, after adjusting for certain one-time expenses, the adjusted net loss came in at 0.5 cents per share, worse than the year-ago quarter EPS of 3 cents and the Zacks Consensus Estimate of 2 cents.
Revenues in the reported quarter declined 2.4% year over year to $33.1 million, missing the Zacks Consensus Estimate of $35 million. The decline in sales was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Opens Higher, Pare Gains

Posted: 26 Oct 2011 08:10 AM PDT

10/26/11 US stocks rallied at the open but turned lower on uncertainty over EU debt problems. US data came in better-than-expected, while earnings were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits 3-day Low Ahead Of EU Announcement

Posted: 26 Oct 2011 08:09 AM PDT

Forexpros – The euro erased gains against the U.S. dollar on Wednesday, falling to a three-day low as investors awaited a statement from European Union leaders on a plan to contain the deepening debt crisis in the euro zone.

EUR/USD hit 1.3800 during U.S. morning trade, the pair's lowest since October 21; the pair subsequently consolidated at 1.3823, falling 0.60%.

The pair was likely to find support at 1.3655, the low of October 20 and resistance at 1.3975, the day's high and a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Tumble After Large U.S. Supply Build

Posted: 26 Oct 2011 07:53 AM PDT

Forexpros – Crude oil futures were down sharply on Wednesday, retreating from a three-month high after a government report showed U.S. crude supplies rose significantly more-than-expected last week and as markets awaited the outcome of a critical European Union summit.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD91.23 a barrel during U.S. morning trade, tumbling 2.08%.

Crude prices traded at USD92.51 prior to the release of the Energy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Falls To 3-day Low On Debt Plan Uncertainty

Posted: 26 Oct 2011 07:40 AM PDT

Forexpros – The euro fell sharply against the yen on Wednesday, dropping to a three-day low as uncertainty over the outcome of key European talks on the region’s debt crisis weighed on demand for the single currency.

EUR/JPY hit 105.04 during U.S. morning trade, the pair’s lowest since October 21; the pair subsequently consolidated at 105.05, sliding 0.70%.

The pair was likely to find support at 104.18, the low of October 12 and short term resistance at 106.56, the high of October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Flat Around $92 As Focus Remains On The Conclusion Of EU Summit

Posted: 26 Oct 2011 07:30 AM PDT

10/26/11 Front month crude prices were steady this morning as investors await the outcome of both the EIA inventory data report and the conclusion of the EU … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. New Home Sales Rise More-than-expected In September

Posted: 26 Oct 2011 07:06 AM PDT

Forexpros – U.S. new home sales rose more-than-expected in September, official data showed on Wednesday.

In a report, the U.S. Census Bureau said new home sales rose by 5.7% to a seasonally adjusted 313,000 units in September, outstripping expectations for a 1.7% increase to 300,000 units.

The previous month's figure was revised up to 296,000 units from 295,000.

The median sales price of new houses sold in September was USD204,400, while the average sales price was USD243,900.

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

EU Summit In Focus, Amazon’s Earnings Fall Short, & IBM Names Its First Female CEO

Posted: 26 Oct 2011 01:15 AM PDT

10/26/11 NYFP’s Morning Market Report: Global markets are trading mixed as all attention is on the conclusion of the EU Summit. Meanwhile, Amazon’s earnings disappoint and IBM’s names its first female … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MDY Healthcare Shares Surge On Proposed Sale Of Medivance

Posted: 26 Oct 2011 02:36 AM PDT

Mdy Healthcare (LON:MDY), the AIM listed strategic investor in healthcare companies, looks set to net over £12.5 million ($20 million) from the sale of its investee company Medivance to New York listed C.R. Baird. MDY has invested approximately $6 million in Medivance in total through a series of investments, giving it a holding of 10.4%. The business is being sold for $250 million, with the transaction scheduled to complete later in the fourth quarter of 2011 subject to US anti-trust … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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