DailyMarkets.com - Mid-America Acquires Assets

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• Mid-America Acquires Assets
• Earnings Preview: Xerox Corp.
• ESI Beats, Ups Profit Outlook
• Real Estate: How Baby Boomers Impact Housing Market
• Gibson Guitar CEO Speaks Out On Gov’t. Persecution
• Duke Realty To Shed Assets
• Cheesecake Factory Misses Estimates
• Capital One Beats Handsomely
• ICE Holds On To Neutral
• World Trade And Output Reach New Record Highs
• Forex – GBP/USD Up During The European Session
• Honeywell Beats Estimates
• Are Copper Prices Beginning To Tarnish?
• Verizon Earns As Expected, Tops Rev
• Vertex Seeks CF Drug Approval
• McDonald’s Tops On Higher Comps
• Schlumberger Misses Ests, Grows Y/Y
• General Mills Rectifies Box Mix Up
• Stock Market News Briefs: AMR, AutoNation, The Blackstone Group L.P., Cephalon, Cisco Systems, New Oriental Education & Technology Group, KeyCorp, Lam Research, Macy’s Inc, Pharmaceutical Resources, Teva Pharmaceutical Industries Limited
• Weak Margins Dampen FLEX’s 2Q
• Sound Earnings. Will Europe Help?
• Forex – USD/CAD Down In European Trading Hours
• TAM Load Factor Creates History
• Microsoft’s Q1 Is Unexciting
• People’s United Beats Estimates
• UFPI Downgraded To Underperform
• Forex – EUR/USD Up During The European Session
• Forbes’ Emily Lambert Slams FINRA
• Shaw Communications In Line In 4Q
• Forex – USD/CAD Down On Economic Data
• Canadian Consumer Price Inflation Rises More-than-expected
• Forex – EUR/CHF Down During The European Session
• Turkey Central Bank Holds Repo Rate At 5.75%

Mid-America Acquires Assets Posted: 21 Oct 2011 08:05 AM PDT Mid-America Apartment Communities Inc (MAA) recently announced that it has completed the acquisition of a 300-unit apartment community,  Aventura at Indian Lake Village located in the Nashville metropolitan area for an undisclosed amount. The acquisition was funded by common stock issuances by the company and borrowings under its current credit facilities. The acquired property, Aventura at Indian Lake Village, is a master-planned community in the Hendersonville submarket. This upscale … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Xerox Corp. Posted: 21 Oct 2011 07:50 AM PDT Xerox Corporation (NYSE:XRX) announced that it would release its results for the third quarter of 2011 before the market opens on October 25, 2011. Norwalk, Connecticut-based Xerox realized earnings per share of 27 cents in the second quarter, which was higher than the Zacks Consensus Estimates of 24 cents per share. In the upcoming quarter, the Zacks Consensus Estimate for Xerox is pegged at a profit of 25 cents per share, reflecting an annualized growth of 12.99%. The downside potential of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ESI Beats, Ups Profit Outlook Posted: 21 Oct 2011 07:35 AM PDT ITT Educational Services Inc. (NYSE:ESI), one of the leading providers of technology-based post-secondary degree programs in the U.S., recently delivered third-quarter 2011 results that beat the Zacks’ expectation. The quarterly earnings of $2.85 per share outpaced the Zacks Consensus Estimate of $2.64, but declined 12.1% from the year-ago quarter earnings of $2.82 per share. ITT Educational registered a decline of 10.0% in revenue to $360.6 million compared with $400.0 million in the prior-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Real Estate: How Baby Boomers Impact Housing Market Posted: 21 Oct 2011 07:27 AM PDT … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gibson Guitar CEO Speaks Out On Gov’t. Persecution Posted: 21 Oct 2011 07:16 AM PDT … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Duke Realty To Shed Assets Posted: 21 Oct 2011 07:15 AM PDT Duke Realty Corporation (NYSE:DRE) recently entered into an agreement to dispose a 10.1 million square foot portfolio of suburban office properties spanning 7 markets across the Midwest and Southern regions. The company stated that an affiliate of Blackstone Real Estate Partners VII has agreed to purchase the 82 building portfolio for approximately $1.08 billion. The Suburban Office Portfolio is currently 84.6% leased and the assumed debt in the transaction is expected to be $30 million. Duke … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cheesecake Factory Misses Estimates Posted: 21 Oct 2011 07:05 AM PDT Calabasas Hills, California-based Cheesecake Factory Inc. (NASDAQ:CAKE) reported earnings of 36 cents a share in the third quarter of fiscal 2011, lagging the Zacks Consensus Estimate by 2 cents and the year-ago quarter earnings by a penny. Hurricane Irene and cost inflation were primarily responsible for the miss. Cheesecake's revenues spiked 2.9% year over year to $430.4 million, but were below the Zacks Consensus Estimate of $435.0 million. The upside in the top line was attributable to a rise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Capital One Beats Handsomely Posted: 21 Oct 2011 06:55 AM PDT Capital One Financial Corp. (NYSE:COF) reported third quarter 2011 earnings from continuing operations of $1.88 per share, handsomely beating the Zacks Consensus Estimate of $1.70. Though this compares unfavorably with $2.04 per share earned in the prior quarter, it surpassed earnings of $1.79 per share recorded in the year-ago quarter. Better-than-expected results for the quarter were primarily aided by increased revenues. Though the company's capital and profitability ratios showed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ICE Holds On To Neutral Posted: 21 Oct 2011 06:50 AM PDT We have reiterated our Neutral recommendation on IntercontinentalExchange Inc. (NYSE:ICE) based on strong fundamentals, which are partially offset by the expected negative impact of regulations and uncertain industry trends. The company's second quarter operating earnings of $1.69 per share were substantially ahead of the Zacks Consensus Estimate of $1.60 and $1.51 reported in the year-ago period. IntercontinentalExchange's competitive strength lies in its diverse array of products and broad … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

World Trade And Output Reach New Record Highs Posted: 21 Oct 2011 06:50 AM PDT The CPB Netherlands Bureau for Economic Policy Analysis released its monthly report this week on world trade and world industrial production for the month of August.  Here are some of the highlights: 1. World trade volume increased in August by 1.4% on a monthly basis and by 5.9% on an annual basis, bringing the global trade index to a new all-time record high of 166.5 (see chart).   World trade is now 3.2% above the previous April 2008 peak of 161.3, and 28% above the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up During The European Session Posted: 21 Oct 2011 06:50 AM PDT Forexpros – The British Pound was higher against the U.S. Dollar on Friday. GBP/USD was trading at 1.5929, up 0.87% at time of writing. The pair was likely to find support at 1.5632, Tuesday's low, and resistance at 1.5934, today's high. Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8720 and GBP/JPY falling 0.06% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Honeywell Beats Estimates Posted: 21 Oct 2011 06:35 AM PDT Honeywell International Inc.'s (NYSE:HON) reported third-quarter 2011 earnings results before the market opened today, reporting earnings per share from continuing operations of 77 cents, below the Zacks Consensus Estimateof 99 cents. Total Revenue Total revenue was $9.3 billion, an increase of 14% y/y. Organically, total revenue was up 8% year over year, led by strong performance in every market.   The company reported a revenue increase in all its segments.  Segment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Are Copper Prices Beginning To Tarnish? Posted: 21 Oct 2011 06:33 AM PDT Friday, October 21, 2011 The recent sell-off in Copper prices is threatening the “V” bottom that has been in place during the past few weeks. Some traders looking for the recent lows to be taken-out may possibly wish to explore selling December Copper, with a potential price target near the 2.7300. A move above the previous recent low of 3.2060 would appear to halt the current near-tem bearish momentum. Fundamentals It has been a difficult few weeks for the base metals sector, as continued … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Verizon Earns As Expected, Tops Rev Posted: 21 Oct 2011 06:30 AM PDT Before the opening bell, the largest U.S. mobile service provider Verizon Communications (NYSE:VZ) reported third quarter 2011 adjusted earnings of 56 cents per share. The quarter's earnings matched the Zacks Consensus Estimate and was a penny above of the year-ago earnings. The storm in the East Coast and the 14-day labor strike in the Wireline segment increased operating cost by $250 million and hurt profitability in the reported quarter. However, on a GAAP basis, earnings more than doubled … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vertex Seeks CF Drug Approval Posted: 21 Oct 2011 06:30 AM PDT Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) recently announced the submission of a new drug application (NDA) to the US Food and Drug Administration (FDA), seeking approval to market Kalydeco (VX-770, ivacaftor). Upon approval, the drug will be used to treat patients (aged 6 years and above) suffering from cystic fibrosis (CF).The patients should have at least one copy of the G551D mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. The company has also requested the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

McDonald’s Tops On Higher Comps Posted: 21 Oct 2011 06:25 AM PDT McDonald's Corporation (NYSE:MCD) posted third quarter 2011 earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.43. Reported earnings increased 12% from $1.29 per share in the prior-year quarter. However, excluding the favorable currency impact of 8 cents in the reported quarter, earnings grew 6.0% year over year. The significant upside in earnings was driven by higher comparable store sales across all regions arising from higher traffic. The company also benefited from its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Schlumberger Misses Ests, Grows Y/Y Posted: 21 Oct 2011 06:20 AM PDT The world's largest oilfield services provider Schlumberger Ltd. (NYSE:SLB) has reported third-quarter 2011 earnings of 98 cents per share (excluding special items), missing the Zacks Consensus Estimate of $1.01. However, the quarter's results showed a steady improvement from the year-earlier profit of 70 cents per share. Income from continuing operations, excluding charges, was $1.32 billion, up 51% year over year. The increase was aided by strong growth worldwide, including all product … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Mills Rectifies Box Mix Up Posted: 21 Oct 2011 06:20 AM PDT The world's leading packaged foods manufacturer, General Mills Inc. (NYSE:GIS) recalled some of its chocolate-flavored Fiber One 90-Calorie Chewy Bars 5-count boxes, as the company suspects that some of the packs may contain peanut bars. As some people are allergic to peanuts and they may suffer from severe, sometimes life-threatening, reactions to the nut, the company ensures that the chocolate peanut butter flavor bars are individually wrapped and have labels indicating the same. However, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: AMR, AutoNation, The Blackstone Group L.P., Cephalon, Cisco Systems, New Oriental Education & Technology Group, KeyCorp, Lam Research, Macy’s Inc, Pharmaceutical Resources, Teva Pharmaceutical Industries Limited Posted: 21 Oct 2011 06:11 AM PDT     Blackstone Group (NYSE:BX) posted a Q3 loss of $0.31 per share, lower than the Zacks Consensus Estimate of $0.05 per share     KeyCorp (NYSE:KEY) reported Q3 EPS of $0.24, surpassing the Zacks Consensus Estimate of $0.21 per share. Revenues for the quarter rose 1.4% year-over-year to $1.04 billion     AutoNation (NYSE:AN) posted Q3 EPS of $0.48, ex-items, in line with the Zacks Consensus Estimate. Revenues for the quarter rose 7.1% year-over-year to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Weak Margins Dampen FLEX’s 2Q Posted: 21 Oct 2011 06:06 AM PDT Flextronics International Ltd.'s (NASDAQ:FLEX) second quarter 2012 earnings per share (EPS) of 20 cents (including stock-based compensation but excluding intangible amortization and restructuring charges) was down 4.8% from the year-ago quarter and also lagged the company's guidance range of 21cents -23 cents. However, the earnings came in line with the Zacks Consensus Estimate. Revenues The quarter's total revenue jumped 8% on a year-on-year basis to $8.04 billion. The revenues not only … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sound Earnings. Will Europe Help? Posted: 21 Oct 2011 06:06 AM PDT Developments in Europe remain the market’s primary focus, offsetting the by and large reassuring earnings reports this morning. European leaders were initially expected to come out with a comprehensive plan in their weekend summit meeting, but those expectations have since come down. The expectation now is that ‘something’ will come out of this meeting, while the remaining issues will get finalized in a subsequent meeting on Wednesday next week. The European uncertainty ensures … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down In European Trading Hours Posted: 21 Oct 2011 06:00 AM PDT Forexpros – The U.S. Dollar was lower against the Canadian Dollar on Friday after the release of Canadian data on CPI. USD/CAD was trading at 1.0114, down 0.39% at time of writing. The pair was likely to find support at 1.0044, Monday's low, and resistance at 1.0264, Tuesday's high. Earlier in the day, official data showed that Consumer price inflation in Canada rose more-than-expected to a seasonally adjusted 0.2% last month from 0.3% in the preceding month. Analysts had expected … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TAM Load Factor Creates History Posted: 21 Oct 2011 05:50 AM PDT Brazilian carrier, TAM Linhas Aereas (TAM) recorded International load factor of a historical 85.3%, the second highest rate ever recorded by the company. The operational data for the month of September 2011 was recently disclosed by the Brazilian National Civil Aviation Agency (ANAC). In the international market, TAM recorded a rise of 8.2% in demand with a 6.9% increase in supply compared to the same month of 2010. This resulted in a load factor of 85.3%, the highest ever recorded in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Microsoft’s Q1 Is Unexciting Posted: 21 Oct 2011 05:40 AM PDT Microsoft Corporation's (NASDAQ:MSFT) reported an inline first quarter, as the enterprise refresh largely offset consumer softness in the last quarter. However, investors were not charmed, as shares slid 0.67% after-hours, following a 0.33% decline during the day. Revenue Revenue of $17.37 billion was flat sequentially and up 7.3% from last year, just exceeding consensus expectations of $17.25 billion. Growth in the last quarter was led by the Entertainment & Devices segment, with the Windows … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

People’s United Beats Estimates Posted: 21 Oct 2011 05:35 AM PDT Regional bank People’s United Financial Inc. (NASDAQ:PBCT) announced its third-quarter 2011 operating earnings per share of 19 cents, outpacing the Zacks Consensus Estimate by 2 cents. Moreover, earnings compared favorably with 17 cents per share in the prior quarter and 8 cents per share in the prior-year quarter. The modest improvement in results was attributed to lower nonperforming assets and loans, higher net interest income and enhanced revenue, partly offset by higher non-interest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UFPI Downgraded To Underperform Posted: 21 Oct 2011 05:15 AM PDT We recently downgraded our recommendation for Michigan-based Universal Forest Products Inc.(NASDAQ:UFPI) from Neutral to Underperform. The Michigan-based company primarily engineers, manufacturers, treats, distributes, and installs lumber, composite wood, plastic and other building products for its do-it-yourself (DIY), site-built construction (homebuilders), manufactured housing, and industrial markets. The company's financials were hard hit by the recent global economic meltdown, which had far … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The European Session Posted: 21 Oct 2011 05:05 AM PDT Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of euro zone data on German Ifo Business Climate Index. EUR/USD was trading at 1.3817, up 0.27% 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, data showed that Germany's Ifo business climate fell less-than-expected to 106.4 last month, from 107.4 in the preceding month whose figure was revised down from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forbes’ Emily Lambert Slams FINRA Posted: 21 Oct 2011 05:00 AM PDT "Justice is truth in action." ~ Benjamin Disraeli Regular readers are very aware of my strong concerns about the lack of transparency emanating from Wall Street's self-regulatory organization FINRA (Financial Industry Regulatory Authority). Having first written about FINRA in January 2009, I have highlighted my concerns extensively over the better part of the last three years. (To reference my writing, go here, Sense on Cents/FINRA). For a period of time, I thought I was shouting into the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shaw Communications In Line In 4Q Posted: 21 Oct 2011 05:00 AM PDT Shaw Communications Inc. (NYSE:SJR) declared its fourth-quarter fiscal 2011 financial results almost in line with the Zacks Consensus Estimates. Net income for the reported quarter was $171 million or 38 cents per share compared with a net income of $117 million or 27 cents per share in the prior-year quarter. Adjusted EPS of 35 cents was exactly in line with the Zacks Consensus Estimate. Quarterly total revenue of approximately $1,215 million was up 25.8% year over year but slightly below the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Down On Economic Data Posted: 21 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 CPI. USD/CAD was trading at 1.0135, down 0.19% at time of writing. The pair was likely to find support at 1.0044, Monday's low, and resistance at 1.0264, Tuesday's high. Earlier in the day, official data showed that Consumer price inflation in Canada rose more-than-expected to a seasonally adjusted 0.2% last month from 0.3% in the preceding month. Analysts had expected … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian Consumer Price Inflation Rises More-than-expected Posted: 21 Oct 2011 04:10 AM PDT Forexpros – Consumer price inflation in Canada rose more-than-expected last month, official data showed on Friday. In a report, Statistics Canada said that Canadian consumer price inflation rose to a seasonally adjusted 0.2%, from 0.3% in the preceding month. Analysts had expected Canadian consumer price inflation to rise 0.1% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/CHF Down During The European Session Posted: 21 Oct 2011 03:20 AM PDT Forexpros – The Euro was lower against the Swiss Franc on Friday after the release of euro zone data on German Ifo Business Climate Index. EUR/CHF was trading at 1.2288, down 0.22% at time of writing. The pair was likely to find support at 1.2207, today's low, and resistance at 1.2474, Wednesday's high. Earlier in the day, data showed that Germany's Ifo business climate fell less-than-expected to 106.4 last month, from 107.4 in the preceding month whose figure was revised down from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Turkey Central Bank Holds Repo Rate At 5.75% Posted: 21 Oct 2011 02:50 AM PDT The Central Bank of the Republic of Turkey held its benchmark 1-week repo rate at 5.75%.  The Bank said: “Recent data releases suggest that there will be a notable reduction in economic growth in the second half of the year. External demand remains weak, and domestic demand continues to slow down. The deceleration in  credit growth and domestic demand combined with the exchange rate movements have been contributing to the rebalancing of domestic and external demand. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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