Thursday, October 20, 2011

DailyMarkets.com - How Smart Credit Cards Could Have Prevented Largest Identity Fraud Case In US History

DailyMarkets.com - How Smart Credit Cards Could Have Prevented Largest Identity Fraud Case In US History

How Smart Credit Cards Could Have Prevented Largest Identity Fraud Case In US History

Posted: 20 Oct 2011 07:30 AM PDT

US authorities announced the largest identity fraud case in US history on Oct 7, 2011, in which more than 100 people from Queens, New York, were indicted. Credit card data were stolen by waiters and transferred onto blank magnetic strip credit cards, which were then used to buy and resell Apple (NASDAQ:AAPL) products outside the US. US authorities said that this fraud operation exposes the need for credit card companies to embed computer chips in credit cards (so-called smart credit cards) to deter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Moves Above 200 And 100 Hour MA And Spikes Higher

Posted: 20 Oct 2011 06:32 AM PDT

The USDJPY moved higher on the back of a move above the 200 and 100 hour MAs and an unconfirmed report of a think tank report that is positive for the USDJPY.
The 200 hour MA has been a ceiling level for the most part over the last few days. That level comes in at the 76.86 level today.  The 100 hour MA comes in at the 76.90.  Breaking those levels triggered stops and the price spiked higher.  SO far, the price has peaked at the 77.08 level.
The 77.24 and 77.42-48 are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Being Pushed Around

Posted: 20 Oct 2011 06:32 AM PDT

There was a report out of a German news source that the German officials did not rule out postponing the EU summit scheduled for the 23rd. This has sent the EURUSD down on another leg lower.  The price is below the 200 hour MA now at the 1.3737 level.  The 61.8% of the days range also comes in at the 1.3737 level.  Traders will be watching the level now to see if the price can … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tractor Supply Beats Estimates

Posted: 20 Oct 2011 06:16 AM PDT

Tractor Supply Co. (NASDAQ:TSCO), a leading retail firm and ranch store brand, recorded yet another encouraging quarter. Earnings per share in the third quarter of fiscal 2011 came in at 58 cents, surpassing the Zacks Consensus Estimate of 52 cents as well as the prior-year earnings of 40 cents per share. Tractor Supply earned $42.7 million in the quarter, exceeding the prior-year quarter net income of $29.9 million.
Robust performance in core consumable, usable and edible products − for instance, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Amazon.com, Apollo Group, American Express Company, BlackRock, Citrix Systems, EBay, New Oriental Education & Technology Group, Intuitive Surgical, Morgan Stanley, Textron, United Technologies Corporation

Posted: 20 Oct 2011 06:11 AM PDT

    United Technologies (NYSE:UTX) posted Q3 EPS of $1.47, exceeding the Zacks Consensus Estimate of $1.44. Revenues for the quarter rose 9% to $14.84 billion, exceeding the Zacks Consensus Estimate of $14.5 billion

    Morgan Stanley (NYSE:MS) reported Q3 EPS of $1.15 per share, above the Zacks Consensus Estimate for $0.35 per share. Revenue for the quarter came in at $9.9 billion

    American Express (NYSE:AXP) posted Q3 EPS of $1.03, surpassing Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AmEx’s Growth Steady With Spending

Posted: 20 Oct 2011 06:06 AM PDT

Yesterday, American Express Company (NYSE:AXP), also known as AmEx, reported third quarter 2011 operating earnings of $1.03 per share, comfortably ahead of the Zacks Consensus Estimate of 96 cents and 90 cents recorded in the year-ago quarter.
Meanwhile, net income from operations increased 13% year over year to $1.24 billion from $1.09 billion in the year-ago period. However, no extraordinary items were recorded during both the comparable periods.
AmEx continues to benefit from an improved credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Western Digital Revs Up, EPS Beats

Posted: 20 Oct 2011 06:06 AM PDT

Western Digital Corp. (NYSE:WDC) reported first quarter 2012 earnings per share (EPS) of $1.10, comprehensively exceeding the Zacks Consensus Estimate of 95 cents. Shares slipped a massive 5.48% in the after-market trade.

Moreover, the company expects huge impact in its result for the upcoming quarter and sees a major impact in its results for the December quarter due to the recent severe flooding in Thailand, as the company notes that 60.0% of the company’s disk drives and 40.0% of the world's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Dynamics In Navy Deal

Posted: 20 Oct 2011 06:06 AM PDT

NASSCO, a wholly owned subsidiary of General Dynamics Corporation (NYSE:GD), received a contract worth $37 million from the U.S Navy for the fitting-out availability of the San Antonio-class amphibious assault dock ship, USS San Diego ("LPD 22"). If all the options are exercised, the total value of the contract would be approximately $134 million.
Per the contract, specific efforts to be taken up by the company for the USS San Diego include program management, planning, engineering, design, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Risk-Appetite Improves On Latest EFSF Developments

Posted: 20 Oct 2011 06:03 AM PDT

Fundamental Headlines
• EU Banks Vow to Slash Assets by $1 Trillion – Bloomberg
• EU Seeks Curbs on High Frequency Trading – Bloomberg
• Euro-zone Rescue Plans Shrouded in Doubt – Reuters
• BOJ Chief Sticks to Recovery View amid Euro Debt – Reuters
• Draft Proposes Fast, Flexible Bailout Fund – WSJ
European Session Summary
After higher yielding and risk-correlated assets, such as the Australian Dollar and Euro, lost ground against the U.S. Dollar in Asian trading on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

E*TRADE Beats Ests, DARTs Ascends

Posted: 20 Oct 2011 05:50 AM PDT

E*TRADE Financial Corporation’s (NASDAQ:ETFC) third-quarter 2011 net income of 24 cents per share outpaced the Zacks Consensus Estimate of 19 cents as well as prior quarter's earnings of 16 cents per share. Moreover, the company's net income also compared favorably with net income of 3 cents per share in the prior-year quarter.
Favorable results were attributed to strong brokerage business in the course of considerable market volatility, partially offset by increase in operating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On Economic Data

Posted: 20 Oct 2011 05:45 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Thursday after the release of U.S. data on Initial Jobless Claims.

EUR/USD was trading at 1.3775, up 0.11% at time of writing.

The pair was likely to find support at 1.3653, Tuesday's low, and resistance at 1.3914, Monday's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims fell less-than-expected to a seasonally adjusted 403K last week from 409K in the preceding week whose figure was revised up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil, Gold Prices Aim Higher Amid US Dollar Weakness

Posted: 20 Oct 2011 05:44 AM PDT

Talking Points

Crude Oil Likely to Rise as Risk Appetite Recovers on Earnings, EU Bailout
Gold Anchored to US Dollar's Fortunes, May Gain if Risk Appetite Holds Up

WTI Crude Oil (NY Close): $86.11 // -2.23 // -2.52%
Crude oil remains firmly anchored to underlying risk appetite via a correlation with the S&P 500, with healthy gains on futures contracts tracking the benchmark index hinting the WTI contract is likely to advance. A broadly positive batch of third-quarter earnings reports … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Initial Jobless Claims Fall Less-than-expected

Posted: 20 Oct 2011 05:40 AM PDT

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week fell less-than-expected, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell to a seasonally adjusted 403K, from 409K in the preceding week whose figure was revised up from 404K.

Analysts had expected initial jobless claims to fall to 400K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Televisa Underperforms In 3Q11

Posted: 20 Oct 2011 05:30 AM PDT

Grupo Televisa S.A.B. (NYSE:TV), the largest integrated cable and media company in Mexico, reported third-quarter 2011 financial results, which fell below the Zacks Consensus Estimates. Significant surge in depreciation and amortization charges impacted the company's net income as Televisa spent more on new customers for expanding its client base.  Furthermore, nearly $34.3 million of non-cash foreign exchange loss also affected the company's bottom line.
Quarterly consolidated net income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TGI Downgraded To Neutral

Posted: 20 Oct 2011 05:19 AM PDT

We recently downgraded our recommendation on Triumph Group Inc. (NYSE:TGI) from Outperform to Neutral.
The downgraded rating is backed by cyclical commercial aerospace market in which the company operates. The overall aerospace market has shown significant downturns in the past and the company witnessed contracted margins in its OEM business due to overcapacity.
Furthermore, Triumph's dependence on a few large customers like Boeing, accounting for 45.3% of sales in FY11, does not appear … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Scary Anologue Seldom Mentioned

Posted: 20 Oct 2011 05:11 AM PDT

According to Dictionary.com, an “analogue” is a noun meaning: something having analogy to something else.
Chartists are prone to mine historical data in search of precedents, patterns that closely resemble the current market believing that by projecting forward from those historical reference points they will come up with the performance that might be mimicked in the current future.
I think I’ve found an analogue that is amazingly close to the present, frighteningly so. Take a look at the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polycom Disappoints, Shares Tumble

Posted: 20 Oct 2011 05:00 AM PDT

Yesterday, after market close, Polycom Inc. (NASDAQ:PLCM) declared highly disappointing financial results for the third quarter of 2011. Soaring operating expenses and a fall in revenue from large enterprises are the primary reasons for this poor performance. We remain concerned regarding the continuation of tech spending by business enterprises under an extremely volatile macro-economic scenario. In synergy with these negative factors, the stock price of Polycom fell by $3.36 (15.39%) in the after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Up During The European Session

Posted: 20 Oct 2011 05:00 AM PDT

Forexpros – The Euro was higher against the British Pound on Thursday.

EUR/GBP was trading at 0.8738, up 0.17% at time of writing.

The pair was likely to find support at 0.8691, Tuesday's low, and resistance at 0.8797, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.30% to hit 1.3801 and EUR/JPY rising 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AmEx’s Growth Steady With Spending

Posted: 20 Oct 2011 04:25 AM PDT

Yesterday, American Express Company (NYSE:AXP), also known as AmEx, reported third quarter 2011 operating earnings of $1.03 per share, comfortably ahead of the Zacks Consensus Estimate of 96 cents and 90 cents recorded in the year-ago quarter.
Meanwhile, net income from operations increased 13% year over year to $1.24 billion from $1.09 billion in the year-ago period. However, no extraordinary items were recorded during both the comparable periods.
AmEx continues to benefit from an improved credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Turnaround Story Continues At EBay

Posted: 20 Oct 2011 04:20 AM PDT

eBay Inc. (NASDAQ:EBAY) reported third quarter earnings of 40 cents, in line with the Zacks Consensus Estimate. Despite encouraging revenue growth and the positive impact of recent acquisitions, demand trends appear sluggish.
As a result, rising costs and a much higher tax rate impacted results in the last quarter. Additionally, revenue guidance was not too exciting. As a result, shares dropped 4.01% in after-hours trading, after declining 2.04% during the day.
Revenue
Gross revenue of $2.97 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/CHF Down During The European Session

Posted: 20 Oct 2011 04:15 AM PDT

Forexpros – The British Pound was lower against the Swiss Franc on Thursday.

GBP/CHF was trading at 1.4146, down 0.68% at time of writing.

The pair was likely to find support at 1.4050, Monday's low, and resistance at 1.4276, today's high.

Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.05% to hit 1.5782 and EUR/GBP rising 0.25% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Up During The European Session

Posted: 20 Oct 2011 03:30 AM PDT

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Thursday.

AUD/USD was trading at 1.0269, up 0.44% at time of writing.

The pair was likely to find support at 1.0118, Tuesday's low, and resistance at 1.0372, Monday's high.

Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.06% to hit 1.3467 and AUD/JPY rising 0.47% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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