Thursday, October 27, 2011

DailyMarkets.com - Molina Soars On Top-line

DailyMarkets.com - Molina Soars On Top-line

Molina Soars On Top-line

Posted: 27 Oct 2011 08:00 AM PDT

On Tuesday, Molina Healthcare Inc. (MOH) reported third quarter operating earnings of 41 cents per share, which came in 2 cents ahead of the Zacks Consensus Estimate. Results were 8% higher than 38 cents reported in the year-ago quarter.
Net income soared 17.3% to $19.0 million from $16.2 million in the prior-year quarter.
Results benefited primarily from higher-than-expected premium and Medicaid revenues coupled with ramped-up memberships. This growth momentum was partially muted by increased … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Akamai Misses, Margins Lag

Posted: 27 Oct 2011 07:55 AM PDT

Akamai Technologies, Inc. (AKAM) reported earnings of 25 cents per share in the third quarter of 2011, which missed the Zacks Consensus Estimate by a penny. However, earnings per share (EPS) increased 8.7% from the 23 cents per share reported in the year-ago quarter.
Reported EPS includes stock-based compensation expense and amortization of capitalized stock-based compensation but excludes amortization of other intangible charges and restructuring charges.
The year-over-year growth was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Amsurg Struggles In 3Q, Ups Outlook

Posted: 27 Oct 2011 07:35 AM PDT

AmSurg Corp. (NASDAQ:AMSG) reported EPS of 42 cents in the third quarter of fiscal 2011, missing the Zacks Consensus Estimate by a penny. Reported EPS also remained flat year over year. Results for the quarter included a negative impact of 1 cent related to the revision of the Medicare payment system for ambulatory surgical centers (ASCs) and 3 cents related to the company's National Surgical Care (NSC) transaction.
AmSurg reported an 11% growth in revenues to $195.9 million in the quarter, below … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Above 100 Day MA A 1.6033

Posted: 27 Oct 2011 07:32 AM PDT

The GBPUSD has moved above the 100 day MA at the 1.6033. Staying above is bullish for the pair today. The high so far has come in at the 1.6082. It is back down near the 1.6050 level. On the topside the next target comes in at the top trendline a tthe 1.6094 level (see chart below).    ON the downside the 1.6040 level was the high reached yesterday. It and the 100 dayMA at the 1.6033 level is the support area for the pair. Staying above keeps the bulls in charge. Moving below, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Falls Below Trendline Support And Selling Intensifies

Posted: 27 Oct 2011 07:32 AM PDT

 
 The USDCHF fell below the 200 day MA and selling intensified. The pair has slowed somewhat by channel trendline support and also near the low from the September 15th low (see daily chart below) . This was the lowest level after the first trend move post SNB … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Multimillionaire Moore Denies He’s In The Top 1%

Posted: 27 Oct 2011 07:29 AM PDT

Documentary filmmaker and multimillionaire Michael Moore squirms in the interview above as he refuses to admit he’s in the top 1% (transcript available here), which seems highly unlikely because it would only take $344,000 of income in 2009 to be in the elite top 1%, and Moore’s net worth is estimated be $50 million.  

Total box office revenues from Moore’s movies come to about 1/3 of a billion dollars ($342 million), and “Fahrenheit 911″ by itself grossed $222 million on a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Equity Residential Reports Mixed 3Q

Posted: 27 Oct 2011 07:15 AM PDT

Equity Residential (EQR) reported funds from operations (FFO) of $196.6 million or 63 cents per share in the third quarter of 2011 compared with $166.2 million or 55 cents per share in the year-ago 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.
Excluding one-time items, FFO in the third quarter stood at $193.1 million or 62 cents per share versus $172.8 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Jersey Order For Diesel Retrofit

Posted: 27 Oct 2011 07:05 AM PDT

New Jersey order for diesel retrofit
Ian Gilson, CFA

The New Jersey Department of Environmental Protection Mandatory Diesel Retrofit Program (NJDEP) has awarded Clean Diesel (CDTI) orders for over $1.7 million. The company’s Purifilter Plus diesel particulate filter system was approved by the NJDEP for retrofitting trucks with equipment to reduce soot emissions from certain vehicles such as tow trucks and dump trucks. The purchase and installation is paid for by the NJDEP. All owners of such … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Brinker Reports Mixed Results

Posted: 27 Oct 2011 07:05 AM PDT

Brinker International Inc. (NYSE:EAT) reported adjusted earnings per share of 30 cents in the first quarter of 2012, surpassing the Zacks Consensus Estimate by 3 cents. Earnings were also ahead of 21 cents reported in the prior-year quarter.
On a GAAP basis, the owner of Chili's Grill & Bar and Maggiano’s Little Italy reported first quarter earnings of 28 cents per share versus 21 cents per share posted in the year-ago quarter.
Total revenue jumped 2.1% year over year to $668.4 million due … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Coffee Futures Rebound As EU Deal, U.S. GDP Boost Risk

Posted: 27 Oct 2011 07:01 AM PDT

Forexpros – Coffee futures were sharply higher on Thursday, snapping two consecutive days of losses after data showed that the U.S. economy grew more-than-expected in the third quarter and after European leaders reached an agreement on a deal to contain the region's two-year old debt crisis.

On the ICE Futures Exchange, Arabica coffee for December delivery traded at USD2.3612 a pound during U.S. morning trade, surging 1.65%.

It earlier rose by as much as 2.02% to trade at USD2.4090 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dr. Reddy’s Continues To Grow

Posted: 27 Oct 2011 06:50 AM PDT

Dr. Reddy's Laboratories (NYSE:RDY) reported second quarter fiscal 2012 earnings per American Depositary Share (ADS) of 40 cents, significantly above the year-ago earnings of 30 cents per ADS. Higher revenues helped boost earnings.
Quarter at a Glance
The company reported revenues of $462 million during the fiscal year, reflecting a year-over-year increase of 22%. Dr. Reddy's reports revenues under two segments – Global Generics and Pharmaceutical Services & Active Ingredients (PSAI). … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Basking In A Favorable News Flow

Posted: 27 Oct 2011 06:40 AM PDT

This is one of those days when the news flow all around us is favorable. European leaders have finally come out with a credible enough plan to tackle the issues plaguing the common market. On the home front, we got the best news on the economic growth front with the third quarter GDP report. And we continue to get reassuring earnings reports.

We will discuss the Euro-zone deal a bit later, but let us provide a quick take on this morning’s third quarter GDP report. Real GDP growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Moves To New Lows. Test Trend Line At 75.66.

Posted: 27 Oct 2011 06:33 AM PDT

The USDJPY fell to new lows after the GDP report (not sure why, but the market may be offsides). The price low came in at the 75.66 level. The level corresponded with the bottom trendline on the hourly chart (see below). 
 
Below that level, 75.54 is another level off the Daily chart. Below that, there is not much support for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Continues Upward Move

Posted: 27 Oct 2011 06:33 AM PDT

The 1.4075 level is the 100 day MA for the pair. The 200 day MA is at 1.4097. Two key levels for the EURUSD … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Breaks Above The 100 And 200 Day MA And Scoots Higher

Posted: 27 Oct 2011 06:33 AM PDT

CTIC Loss Widens, Resubmits NDA

Posted: 27 Oct 2011 06:30 AM PDT

Cell Therapeutics (CTIC) suffered a net loss of 15 cents per share (excluding special items) in the third quarter of 2011, wider than the loss of 14 cents in the year-ago quarter as well as the Zacks Consensus loss of 11 cents per share. The wider loss per share in the reported quarter was due to an increase in research and development expenses. Cell Therapeutics did not generate any revenue during the reported quarter. Total operating expense in the quarter increased approximately 18% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Hits New Record Low After U.S. GDP Data

Posted: 27 Oct 2011 06:24 AM PDT

Forexpros – The U.S. dollar fell to a new record low against the yen on Thursday, after upbeat preliminary U.S. growth data and a European plan to tackle the region’s debt crisis strongly boosted risk appetite.

USD/JPY hit 75.66 during European afternoon trade, the pair’s all time low; the pair subsequently consolidated at 75.73, dropping 0.59%.

The pair was likely to find support at 74.80 and resistance at 76.31, Wednesday’s high.

Preliminary data showed that gross domestic product in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Urban Farm Pods

Posted: 27 Oct 2011 06:18 AM PDT

Is this the produce farm of the future?

From The Atlantic:

ATLANTA — “It’s easy to miss the Podponics headquarters on Ponce de Leon Avenue. We breezed right by before company co-founder Dan Backhaus came out to the curb to wave us in. To look at their setup–six rust-colored, graffitied shipping containers tucked between a Cactus Car Wash franchise and a halfway house–you’d never suspect this was one of Atlanta’s flourishing young startups. But behind the padlocked doors, an urban farming … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Healthways Beats, Cuts Guidance

Posted: 27 Oct 2011 06:17 AM PDT

Healthways (NASDAQ:HWAY) reported third-quarter fiscal 2011 earnings per share of 28 cents, beating the Zacks Consensus Estimate of 27 cents but falling short of the year-ago earnings of 30 cents per share. Net income dropped 10% year over year to $9.5 million.
Revenues and Margins
Revenues came in at $176.2 million in the third quarter, up 3.3% year over year, beating the Zacks Consensus Estimate of $175 million.
Healthways' operating income dropped 3.1% year over year to $20 million in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: American Electric Power Company, Boeing Company, Citigroup, Ford Motor Credit Company, General Dynamics, Goldman Sachs Group, International Business Machines, Lockheed Martin, New York Times Company, Radioshack Corporation

Posted: 27 Oct 2011 06:12 AM PDT

    American Electric Power Co., Inc.'s (NYSE:AEP) third quarter 2011 adjusted EPS of $1.17 came in       ahead of the Zacks Consensus Estimate of $1.14

    General Dynamics Corp. (NYSE:GD) posted third-quarter 2011 operating earnings of $1.83 per share, beating the Zacks Consensus Estimate of $1.77

    Boeing Co. (NYSE:BA) reported earnings of $1.46 per share during the quarter, surpassing the Zacks Consensus Estimate of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Plexus Reports Mixed 4Q

Posted: 27 Oct 2011 06:00 AM PDT

Plexus Corp. (NASDAQ:PLXS) reported fourth quarter 2011 diluted earnings per share (EPS) of 52 cents, surpassing the Zacks Consensus Estimate of 50 cents and was in line with the higher end of management's guidance range of 50 cents to 52 cents. However, EPS decreased 20.0% year over year and 10.3% sequentially.
For fiscal 2011, EPS not only increased 5.0% from the previous-year quarter to $2.30, but also surpassed the Zacks Consensus Estimate of $2.28. Despite macro-economic concerns and soft … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Celanese Reports Strong 3Q

Posted: 27 Oct 2011 05:52 AM PDT

Specialty material company Celanese Corp. (NYSE:CE) reported adjusted earnings of $1.27 per share in the third quarter of 2011, beating the Zacks Consensus Estimate of $1.11.
Diluted earnings per share in the quarter were $1.05 per share, up 12.9% year over year.
Revenues and Margins
Quarterly revenues grew 20% year over year to $1.81 billion, primarily driven by higher pricing across all operating segments and favorable currency impacts. Results were above the Zacks Consensus Estimate of $1.69 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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

Posted: 27 Oct 2011 05:42 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 in the week ending October 22 fell by 2,000 to a seasonally adjusted 402,000, short of expectations for a decline to 400,000.

The previous week's figure was revised up to 404,000 from 403,000.

Continuing jobless claims in the week … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Sharply Lower After U.S. Q3 GDP Data

Posted: 27 Oct 2011 05:40 AM PDT

Forexpros – The U.S. dollar extended broad losses against its major counterparts on Thursday, after preliminary data showing that the U.S. economy grew more-than-expected in the third quarter added fuel to a broad based risk rally.

During European afternoon trade, the dollar was sharply lower against the euro, with EUR/USD jumping 1.09% to hit 1.4057.

Risk appetite was boosted after European leaders reached an agreement with private banks on a voluntary 50% reduction of Greece’s debt. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. GDP Rises More-than-expected In Q3

Posted: 27 Oct 2011 05:37 AM PDT

Forexpros – Gross domestic product in the U.S. rose more-than-expected in the third quarter, expanded at the fastest rate since the third quarter of 2010, preliminary official data showed on Thursday.

In a report, the Bureau of Economic Analysis said that GDP rose by a seasonally adjusted annual rate of 2.5%, accelerating from growth of 1.3% in the preceding quarter.

Analysts had expected U.S. gross domestic product to rise 2.4% in the third quarter.

The GDP price index rose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Harris Beats Estimate By A Penny

Posted: 27 Oct 2011 05:31 AM PDT

Harris Corp. (NYSE:HRS) declared its first quarter of fiscal 2012 financial results yesterday, after the closing bell. Quarterly adjusted (excluding special charges) earnings per share (EPS) of $1.06 surpassed the Zacks Consensus Estimate by a penny. Reported GAAP net income in the quarter was $121.6 million or $1.01 per share compared with $163.9 million or $1.27 per share in the year-ago quarter. This was attributable to higher cost of production and Engineering, Selling, and Administrative … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Just Off 7-week High As Risk Appetite Sharpens

Posted: 27 Oct 2011 05:24 AM PDT

Forexpros – The pound extended gains against the broadly weaker U.S. dollar on Thursday, to trade just below a seven-week high as market sentiment was boosted after European leaders reached an agreement on a deal to contain the debt crisis in the region.

GBP/USD hit 1.6035 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.6025, gaining 0.31%.

Cable was likely to find support at 1.5899, Monday's low and resistance at 1.6166, the high of September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Regions Posts Profit, Tops Estimate

Posted: 27 Oct 2011 05:17 AM PDT

 
Regions Financial Corporation's (NYSE:RF) third-quarter 2011 earnings came in at 8 cents per share, outshining the Zacks Consensus Estimate by 4 cents. Quarterly results benefited from lower loan loss provisions and represented the company's fourth consecutive quarterly profit after incurring losses since the second quarter of 2009.
Adjusted earnings per share, excluding regulatory adjustments and significant items, also came in at 8 cents per share for the reported quarter compared … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Rally On Market Optimism; DAX Jumps 4.8%

Posted: 27 Oct 2011 05:14 AM PDT

Forexpros – European stock markets extended gains on Thursday, as investor confidence was boosted after European leaders and banks struck a deal to take a 'voluntary' 50% loss on the face value of their Greek debt.

During European morning trade, the EURO STOXX 50 surged 5.46%, France's CAC 40 jumped 5.54%, while Germany's DAX 30 soared 4.8%.

The agreement on Greek debt was critical to assembling a package of measures to contain the debt crisis in the euro zone. The writedown will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD At 7-week High, Boosted By EU Deal

Posted: 27 Oct 2011 05:04 AM PDT

Forexpros – The broadly stronger euro extened gains against the U.S. dollar on Thursday, rising to a fresh seven-week high after European Union leaders reached an agreement on a deal to tackle the debt crisis in the euro zone, bolstering risk appetite.

EUR/USD hit 1.4047 during European afternoon trade, the pair's highest since September 8; the pair subsequently consolidated at 1.4043, jumping 0.99%.

The pair was likely to find support at 1.3863, the days low and resistance at 1.4098, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

T. Rowe Price Profit Soars

Posted: 27 Oct 2011 05:00 AM PDT

T. Rowe Price Group Inc.'s (NASDAQ:TROW) third-quarter 2011 earnings of 71 cents per share were significantly up from 64 cents reported in the prior-year quarter. Higher-than-expected top-line growth, partially offset by higher operating expenses, cumulated in improved performance. However, the quarter's earnings were below the Zacks Consensus Estimate by 2 cents per share.
Net income increased 9.7% to $185.5 million from $169.1 million in the year-ago quarter.
Performance in Detail
Net revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Surge On EU Debt Deal; Dow Jones Up 1.78%

Posted: 27 Oct 2011 04:46 AM PDT

Forexpros – U.S. stock futures pointed to a sharply higher open on Thursday, as market sentiment recovered after European leaders announced fresh measures to tackle Greece’s debt crisis and expand the region’s bailout fund.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 1.78%, S&P 500 futures signaled a 2.14% surge, while the Nasdaq 100 futures indicated a 2.12% jump.

Risk sentiment was boosted after European leaders reached an agreement with private … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wheat Bounces Off 1-week Low On Dollar Weakness, EU Optimism

Posted: 27 Oct 2011 04:24 AM PDT

Forexpros – Wheat futures regained strength on Thursday, bouncing off the previous session's one-week low as the U.S. dollar weakened broadly after European leaders made a breakthrough in resolving the region's debt crisis.

On the Chicago Mercantile Exchange, wheat futures for December delivery traded at USD6.3488 a bushel during European morning trade, surging 2.47%.

It earlier rose by as much as 2.75% to trade at a daily high of USD6.3638 a bushel.

Appetite for riskier assets was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Poised To Rise, Gold Sold As Markets Digest EU Summit

Posted: 27 Oct 2011 04:12 AM PDT

Talking Points

Crude Oil Poised to Rise as S&P 500 Futures Soar on EU Summit Outcome
Gold Turns Lower as Fears of EU-Led Market Meltdown Begin to Recede

WTI Crude Oil (NY Close): $90.20 // -2.97 // -3.19%
Crude oil remains anchored to broad-based risk sentiment trends as the WTI contract continues to show a firm correlation with the S&P 500. With that in mind, the path of least resistance appears to point higher as futures tracking the benchmark stock index trade up nearly 2 percent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Down After EU Summit

Posted: 27 Oct 2011 03:56 AM PDT

Forexpros – The U.S. dollar fell against the Swiss franc on Thursday, hovering close to a five-week low as the announcement of fresh measures to tackle Greece’s financial troubles and prevent debt contagion in the euro zone dampened demand for the greenback.

USD/CHF hit 0.8732 during early European afternoon trade, the daily low; the pair subsequently consolidated at 0.8732, shedding 0.86%.

The pair was likely to find support at 0.8569, the low of September 8 and resistance at 0.8952, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Hits 6-day High After EU Summit Deal

Posted: 27 Oct 2011 03:39 AM PDT

Forexpros – The euro was higher against the pound on Thursday, trading close to a six-day high after European Union leaders reached an agreement with banks to accept a writedown on Greek debt and scale up the euro zone's bailout fund.

EUR/GBP hit 0.8768 during European late morning trade, the pair's highest since October 19; the pair subsequently consolidated at 0.8759, gaining 0.64%.

The pair was likely to find support at 0.8688, the days low and resistance at 0.8796, the high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Futures Rally To 5-week High On EU Debt Plan

Posted: 27 Oct 2011 03:28 AM PDT

Forexpros – Copper futures rallied to a five-week high on Thursday, as appetite for riskier assets was boosted after European leaders unveiled fresh measures to tackle the region's two-year old debt crisis.

On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.607 a pound during European morning trade, surging 3.35%.

It earlier rose by as much as 3.4% to trade at USD3.608 a pound, the highest price since Sept 22.

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

Forex – Dollar Broadly Lower Vs. Rivals On New EU Hopes

Posted: 27 Oct 2011 03:09 AM PDT

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Thursday, as announced measures to tackle Greece’s financial troubles and avoid debt contagion in the euro zone weighed on demand for the greenback.

During European morning trade, the dollar was sharply lower against the euro, with EUR/USD rising 0.75%% to hit 1.4012.

The single currency found support after European leaders reached an agreement with private banks on a voluntary 50% reduction of Greece’s debt. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. CBI Realized Sales Rise Unexpectedly In October

Posted: 27 Oct 2011 03:07 AM PDT

Forexpros – Retail sales in the U.K. rose unexpectedly in October, industry data showed on Thursday.

In a report, the Confederation of British Industry said the result of its index of U.K. retailers rose by four points to minus 11.0 in October from a reading of minus 15.0 in September.

Analysts had expected the index to hold steady at minus 15.0.

On the index, a reading above zero indicates higher sales volume, below indicates lower.

The volume of sales was poor for the time of the year, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Merkel Tries To Garner Support In Bundestag Before EU Summit

Posted: 26 Oct 2011 07:55 PM PDT

By ForexMansion.com
Durable goods orders might have fallen in September after the drop in orders from aircraft manufacturers neutralized the successes of such companies as Caterpillar Inc (CAT), which show increasing production thanks to their expansions to overseas markets. According to the estimates of 79 economists polled by Bloomberg, orders for equipment with three years of service life or more fell 1% after decreasing 0.1% in August. According to the same poll, orders for goods excluding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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