Tuesday, October 25, 2011

DailyMarkets.com - StanCorp Beats Bottom Line

DailyMarkets.com - StanCorp Beats Bottom Line

StanCorp Beats Bottom Line

Posted: 25 Oct 2011 10:00 AM PDT

StanCorp Financial Group (NYSE:SFG) reported third-quarter 2011 earnings of 96 cents per share from continuing operations, striding ahead of the Zacks Consensus Estimate of 66 cents. However results were 31% below $1.39 earned in the prior-year quarter. Net income from continuing operations for the quarter was $42.7 million, dropping 34% from $64.8 million reported in third-quarter 2010.
StanCorp benefited from an after-tax net capital gain of $4.8 million or 11 cents per share in the quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Zions Outpaces Estimates

Posted: 25 Oct 2011 09:46 AM PDT

Zions Bancorp. (NASDAQ:ZION) reported third quarter 2011 earnings of 40 cents per share, significantly ahead of the Zacks Consensus Estimate of 32 cents. However, this is below the prior quarter's earnings of 45 cents per share.
However, after considering non-cash effects of the discount amortization on convertible subordinated debt and additional accretion on acquired loans, Zions reported third quarter net profit of $65.2 million or 35 cents per share. This compares favorably with the prior … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Housing Stagnant, But Further Collapse Unlikely

Posted: 25 Oct 2011 09:41 AM PDT

With existing homes, it is not the volume of turnover that is important, it is prices. The level of existing home sales is only significant relative to the level of inventories, since that provides a clue as to the future direction of home prices. If there is an excess inventory of existing homes, then it makes very little sense to build a lot of new homes.

It is the building of new houses that generates economic activity. It is not just about the profits of D.R. Horton (NYSE:DHI). A used house … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Can China Turn Around The Sagging Copper Market?

Posted: 25 Oct 2011 09:36 AM PDT

Tuesday, October 25, 2011
Chinese manufacturers may be entering a restocking phase, as the economy has avoided a hard landing. Inflationary pressure in other areas has moderated, which could create domestic demand for Chinese goods. The bounce in Copper prices could also be a sign that some traders expect Europe to hammer out the details of the EU bailout fund this week. Technically, Copper looks as though it may be forming a double-bottom, but the pattern has yet to be confirmed. Copper is a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Extends Range, But The Trendline/Fibo Level Holds.

Posted: 25 Oct 2011 09:36 AM PDT

No one said it would be easy.
The EURUSD fell back below the 1.3917 level and took out the targets along the way including the old low for the day at the 1.3875 level. The fall below that level extended the days range (as anticipated) and led to quick liquidation/selling pressure. The price approached trendline support (at 1.3848) off the October 20 low and 38.2% Fibo support (at 1.3843), and just as fast is it went down, the price moved back higher.
There is now a report that the EU leaders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Continues To Chop With Negative Bias

Posted: 25 Oct 2011 09:36 AM PDT

The picture/chart remains the same.  The trading story and volatility remains the same. The last three hours have spent most of the time below the 1.3917 area which was where the 100 and 200 bar MA has been hovering around. The problem is the spikes above are hurting traders.  This nevertheless should keep the downside the preferred direction, but traders need to trade when comfortable and be sure to define risk.  Headlines from the EU, Greece, etc continue to wreck havoc for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ocwen Lags Estimates

Posted: 25 Oct 2011 09:31 AM PDT

Ocwen Financial Corporation (NYSE:OCN) reported third quarter 2011 earnings of 19 cents per share, missing the Zacks Consensus Estimate by 2 cents. However, this compares favorably with the prior-year quarter’s loss of 9 cents.
Ocwen's net income for the reported quarter stood at $20.2 million as against a net loss of $8.8 million in the year-ago quarter.
During the quarter under review, Ocwen announced the completion of its acquisition of Litton Loan Servicing, a unit of Goldman Sachs Group … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Willis Group Beats Bottom Line

Posted: 25 Oct 2011 09:17 AM PDT

Willis Group Holdings plc (NYSE:WSH) reported its third-quarter 2011 adjusted net income from continuing operations of 41 cents per share, beating the Zacks Consensus Estimate by 4 cents. Results are also ahead of 37 cents earned in third-quarter 2010. Adjusted net income from continuing operations was $72 million, up 12.5% from $64 million in the prior-year quarter.
The beat may likely be attributable to higher commissions and fees.
Adjusting for an operational review charge of $11 million or 6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wal-Mart Reopens Stores In China

Posted: 25 Oct 2011 09:17 AM PDT

Retail giant Wal-Mart Stores Inc. (NYSE:WMT) has reopened 13 stores in southwest China, which were ordered to shut down two weeks before by the municipal government of China.
The municipal government of Chongqing in southwestern China had accused Wal-Mart of selling substandard food and thus fined the company with $420,000 and ordered to close 13 Wal-Mart stores for 15 days.
In addition, 37 Wal-Mart employees were detained in Chongqing over mislabeling ordinary pork as organic.
In response to it, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Amgen Beats; Raises View

Posted: 25 Oct 2011 09:07 AM PDT

Amgen (NASDAQ:AMGN) reported third quarter earnings per share of $1.39, well above the Zacks Consensus Estimate of $1.26 and 3% above the year-ago earnings. A lower tax rate, lower share count and higher revenues contributed to the earnings beat.
Total revenues increased 3% to $3,944 million in the third quarter of 2011. Revenues topped the Zacks Consensus Estimate of $3,867 million.
US product revenues increased 2% during the quarter to $2,965 million. Meanwhile, international product revenues … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Health Management’s Results Mixed

Posted: 25 Oct 2011 09:07 AM PDT

Health Management Associates (NYSE:HMA), a leading operator of general acute care hospitals across the nation, reported third-quarter fiscal 2011 earnings per share of 19 cents, beating the Zacks Consensus Estimate by 2 pennies and surpassing the year-ago earnings of 14 cents per share. Net income increased 22.7% year over year to $43.5 million.
Revenues
Revenues grew 12% year over year to $1,400.2 million, but fell short of the Zacks Consensus Estimate of $1,402 million. The top line was driven … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Office Depot Misses Estimates

Posted: 25 Oct 2011 09:07 AM PDT

Office Depot Inc. (NYSE:ODP) recently posted lower-than-expected third-quarter 2011 results. The company reported a break-even that missed the Zacks Consensus Estimate by a couple of cents, but portrayed a marginal improvement from a loss of 2 cents a share delivered in the year-ago quarter.
On a reported basis, including one-time items, Office Depot's quarterly earnings came in at 28 cents a share that more than doubled from 12 cents earned in the prior-year quarter.
Office Depot's total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Changes At The Top For Commtouch

Posted: 25 Oct 2011 09:07 AM PDT

Changes at the Top for Commtouch
Ken Nagy, CFA

Commtouch Software (CTCH) a provider of email defense and URL filtering solutions to enterprise customers and OEM distribution partners. The firm's "in the cloud" technology has the ability to analyzes 2.5 billion messages a day, which is far superior to the competition's static solutions which have little chance of catching new outbreaks.  During late 2008, the Company released its URL filtering services. The web has more than double … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing Quarter For ResMed

Posted: 25 Oct 2011 09:07 AM PDT

ResMed Inc. (NYSE:RMD) reported EPS of 33 cents in the first quarter of fiscal 2012, missing the Zacks Consensus Estimate by 2 cents and 8% lower than the year-ago quarter. This was mainly due to unfavorable currency movements that impacted the EPS by approximately 8 cents during the quarter. In the reported quarter, revenues increased 12% (up 8% at constant exchange rates or CER) year over year to $314.8 million. However, reported revenues missed the Zacks Consensus Estimate by 4.5%.  
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DATATRAK Sees Momentum In New Deals

Posted: 25 Oct 2011 09:07 AM PDT

DATATRAK sees Momentum in New Deals
Ken Nagy, CFA

On August 10, 2011, DATATRAK International, Inc. (DATA), a technology and service provider of electronic clinical trial technology solutions for the clinical trials industry, reported solid second quarter results with a 13 percent year over year increase in sales with revenue expanding to $2.121 million during the three months ended June 30, 2011.

The addition of a $4.4 million in new contract sales during the second quarter, representing the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

3M Below Estimate

Posted: 25 Oct 2011 09:07 AM PDT

3M Company (NYSE:MMM) reported third-quarter 2011 results before the market opened today, reporting earnings per share of $1.52, below the Zacks Consensus estimate of $1.61. Earnings per share inched down 1% year over year.
Total Revenue
Total revenue in the quarter increased by 9.6% year over year to $7.5 billion. Acquisitions contributed 3.7% to total growth, foreign exchange added 3.1%, organic volume growth 1.9% and higher year-on-year selling prices added 0.9%.
A weakness in electronic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quest Beats EPS, Sales In Line

Posted: 25 Oct 2011 09:07 AM PDT

Quest Diagnostics (NYSE:DGX) reported an EPS of $1.08 during the third quarter of fiscal 2011 compared with $1.13 in the year-ago period. However, the reported quarter recorded 10 cents of charges related to restructuring and benefit of 5 cents (8 cents in the third quarter of fiscal 2010) associated with a favorable resolution of tax contingencies.
Adjusting for these one-time items, EPS in the reported quarter came in at $1.13, surpassing the Zacks Consensus Estimate of $1.11 and the adjusted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Steel Swings To Profit In 3Q

Posted: 25 Oct 2011 09:07 AM PDT

United States Steel Corporation (NYSE:X) reported third-quarter 2011 adjusted net income of $118 million or 72 cents per share, exceeding the Zacks Consensus Estimate of 55 cents per share.
The net income excluded $96 million or 57 cents per share of net foreign currency losses, primarily related to the accounting remeasurement of the inter company loans. Including this net income came in at $22 million, or 15 cents per diluted share versus net loss of $51 million or loss of 35 cents per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Masco Profits In Line, Sales Up

Posted: 25 Oct 2011 09:07 AM PDT

Masco Corporation (NYSE:MAS) reported earnings of 8 cents per share (excluding special items) in the third quarter of 2011, which was lower than the year-ago quarter earnings of 11 cents per share (excluding special items).
However, reported earnings were in line with the Zacks Consensus Estimate for the quarter. The continuous decline in the construction of new homes was primarily responsible for the company's poor performance in the quarter.
Nevertheless, net sales increased 3% to $2.01 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reynolds American Misses, Tightens

Posted: 25 Oct 2011 09:07 AM PDT

Reynolds American Inc.’s (NYSE:RAI) adjusted quarterly earnings of 70 cents per share for third-quarter 2011 increased approximately 2.9% from the prior-period earnings of 68 cents.
Growth in quarterly earnings was primarily driven by higher pricing and productivity improvements, partially offset by declined cigarette volumes. Quarterly earnings, however, fell short of the Zacks Consensus Estimate of 73 cents per share.
On a reported basis, including lawsuit and implementation charge of 7 cents a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Unisys Easily Beats

Posted: 25 Oct 2011 09:06 AM PDT

Unisys Corporation (NYSE:UIS) reported revenues of $1.02 billion in the third quarter, up 6% year over year. Foreign currency fluctuations had a six percentage-point positive impact on revenue in the quarter.
Total revenues grew 6% despite a decline in the company's U.S. federal business. Excluding the U.S. Federal business, overall revenue grew 14% year over year.  Management stated that strong ClearPath sales, continued growth in the non-U.S. Federal IT outsourcing business, and higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Xerox Delivers Mixed 3Q

Posted: 25 Oct 2011 09:06 AM PDT

Xerox Corporation (NYSE:XRX) reported net income of $320 million or 22 cents per share in the third quarter of 2011 compared with $250 million or 17 cents per share in the year-ago quarter.
Reported earnings included charges of $54 million or 4 cents per share related to the amortization of intangible assets versus similar charges of $53 million or 4 cents per share and restructuring charges of $8 million or 1 cent per share in the year-ago quarter.
Excluding these charges, adjusted income of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Novartis Misses, Plans Job Cuts

Posted: 25 Oct 2011 09:06 AM PDT

Swiss pharmaceutical giant Novartis (NYSE:NVS) reported a lukewarm quarter delivering earnings per share of $1.45 for the third quarter of 2011, below the Zacks Consensus Estimate of $1.47 as well as the prior-quarter earnings of $1.48 per share. An unimpressive top-line led to the lower-than-expected bottom-line. Earnings however beat the year-ago figure of $1.36.
Third quarter revenues were up 18% over the prior year to $14.8 billion. Total revenues were however slightly down sequentially as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cummins Misses But Profits Up 65%

Posted: 25 Oct 2011 09:06 AM PDT

Cummins Inc.(NYSE:CMI) posted a 61% increase in profit to $423 million (excluding discrete income tax items) in the third quarter of 2011 from $262 million in the year-ago quarter (excluding pre-tax benefit related to a legal ruling in Brazil).
However, on per share basis, the company missed the Zacks Consensus Estimate of $2.25 despite a 65% increase in profit to $2.20 in the reported quarter from $1.33 in the third quarter of 2010.
Revenues in the quarter rose 36% to $4.63 billion, which was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Bristol-Myers

Posted: 25 Oct 2011 09:06 AM PDT

Pharmaceutical giant Bristol-Myers Squibb Company (NYSE:BMY) is all set to unveil its third quarter 2011 results on October 27, 2011 before the start of trading. The Zacks Consensus Estimate for the third quarter is $0.58 (year-over-year decrease of 1.7%) on revenues of $5,278 million (year-over-year increase of 10.0%).
Second Quarter Recap
Bristol-Myers' second quarter 2011 earnings (excluding special items) of $0.56 per share surpassed the Zacks Consensus Estimate by $0.01and the year-ago … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AK Steel Misses Zacks Consensus

Posted: 25 Oct 2011 09:06 AM PDT

AK Steel Holding Corporation (NYSE:AKS) posted its third-quarter 2011 results, delivering net loss of $3.5 million or $0.03 cents compared with net loss of $59.2 million or $0.54 cents during the year-ago quarter. However, results were below the Zacks Consensus Estimate of $0.00 cents per share.
Third-quarter 2011 results include after-tax expenses of approximately $6.2 million, or approximately $0.05 per diluted share, for costs related to the previously reported incident involving an electric … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Home Prices Edge Down In August

Posted: 25 Oct 2011 09:06 AM PDT

In August, home prices were down on a seasonally adjusted basis. The Case-Schiller Composite 10 City index (C-10) fell 0.18% on a seasonally adjusted basis, and is down 3.55% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) edged down by 0.05% on the month and is down 3.85% from a year ago.

Prices for both indexes rose by 0.2% for the month on a not seasonally adjusted basis (which is how you will probably see most of the reports presented). Of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Praxair Inc.

Posted: 25 Oct 2011 09:06 AM PDT

Praxair Inc.(NYSE:PX) is slated to release its third quarter 2011 results on Wednesday, October 26. The current Zacks Consensus Estimate for the third quarter earnings per share (EPS) is $1.39, representing an annualized growth of 14.96%.   
Praxair had outperformed the Zacks Consensus Estimate over the trailing four quarters. The average earnings surprise was a positive 1.19%, implying that the company has outdone the Zacks Consensus Estimate by the same magnitude over the last four … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sherwin-Williams Beats Estimates

Posted: 25 Oct 2011 09:06 AM PDT

Sherwin-Williams Co. (NYSE:SHW) reported net earnings of $1.71 per share in the third quarter of 2011, beating the Zacks Consensus Estimate by a cent. 
Net sales for the quarter increased 14.4% year over year to $2.48 billion driven by acquisitions and selling price increases and strong organic sales growth by the Global Finishes Group. Sales were also boosted by favorable currency translation rate changes. Sherwin-Williams' third-quarter sales exceeded the Zacks Revenue Estimate of $2.42 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: IPG

Posted: 25 Oct 2011 09:06 AM PDT

The Interpublic Group of Companies Inc. (NYSE:IPG) will be reporting its third-quarter 2011 earnings on Friday, October 28, 2011.
The current Zacks Consensus Estimate for earnings per share (EPS) is 10 cents, representing an annualized growth of 26.92%.  
With respect to earnings surprises over the trailing four quarters, The Interpublic Group outperformed the Zacks Consensus Estimate in three quarters, while underperformed in one. Average earnings surprise was 8.63%, indicating that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TSS Acquires Vanguard’s Portfolio

Posted: 25 Oct 2011 09:06 AM PDT

Expanding its merchant service solutions, on Friday, Total System Services Inc. (NYSE:TSS) announced that it has bought the merchant portfolio of Florida-based Vanguard Payment Systems Inc. However, the financial details were not revealed.
Accordingly, the merchant accounts acquired portfolio from Vanguard will now have access to TSYS Merchant Solutions' (TMS) products and services, which are customized to suit the client's needs.
Aspiring to be among the top 10 global merchant acquirer, Total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Higher Vs. Rivals As EU Summit On Tap

Posted: 25 Oct 2011 08:58 AM PDT

Forexpros – The U.S. dollar was higher against most of its major counterparts on Tuesday, amid growing uncertainty over the capacity of European leaders to come up with a solution to the region’s debt crisis at Wednesday’s summit.

During U.S. morning trade, the greenback was up against the euro, with EUR/USD rising 0.16%% to hit 1.3905.

Investors were cautious after German Chancellor Angela Merkel said Germany did not support language in a draft proposal for the EU summit that suggests the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Gain On Cold Weather Forecasts

Posted: 25 Oct 2011 08:54 AM PDT

Forexpros – Natural gas futures gained on Tuesday, climbing to a three-day high as colder-than-normal weather forecasts across most parts of the U.S. boosted heating demand expectations for the fuel, while concerns over a disruption to supplies in the Gulf of Mexico provided further support.

On the New York Mercantile Exchange, natural gas futures for December delivery traded at USD3.817 per million British thermal units during U.S. morning trade, gaining 0.62%.

It earlier rose by as much … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Slips Amid Uncertainty Ahead Of EU Summit

Posted: 25 Oct 2011 08:46 AM PDT

Forexpros – The pound slipped against the U.S. dollar on Tuesday, pulling back from a six-week high as comments by German Chancellor Angela Merkel cast doubts over the outcome of Wednesday's key European Union summit meeting.

GBP/USD hit 1.5958 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.5978, slipping 0.12%.

Cable was likely to find support at 1.5899, Monday's low and resistance at 1.6082, the high of September 8.

Market sentiment was hit after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Rallies To 3-month High, Trades Above USD93 A Barrel

Posted: 25 Oct 2011 08:35 AM PDT

Forexpros – Crude oil futures added to strong gains on Tuesday, rallying to a three-month high ahead of Wednesday's European Union summit, while concerns over a disruption to U.S. supplies in the Gulf of Mexico also lent support.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD93.83 a barrel during U.S. morning trade, rallying 2.8%.

It earlier rose by as much as 3.2% to trade at USD94.58 a barrel, the highest price since August … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits Daily Low On EU Summit Jitters

Posted: 25 Oct 2011 08:33 AM PDT

Forexpros – The euro fell to a daily low against the U.S. dollar on Tuesday, after comments by German Chancellor Angela Merkel dampened hopes that European leaders would formulate a plan to tackle the region’s debt crisis at Wednesday’s key summit.

EUR/USD hit 1.3850 during U.S. afternoon trade, the daily low; the pair subsequently consolidated at 1.3897, dropping 0.23%.

The pair was likely to find support at 1.3724, the low of September 17 and resistance at 1.4061, the high of July … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Rises Above $94 On Dollar Weakness

Posted: 25 Oct 2011 08:30 AM PDT

10/25/11 A decline in the US dollar allowed front month crude prices to rally again this morning to trade above $94 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro-zone Jitters, Data, Earnings Drag Stocks Lower

Posted: 25 Oct 2011 03:20 AM PDT

10/25/11 Wall Street slid into the red ahead of the EU summit. Consumer confidence tumbled to the weakest level since March … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Boomtown Strippers Make $2k/Night In ND, “We Make More Than Doctors”

Posted: 25 Oct 2011 08:13 AM PDT

WILLISTON, N.D. (CNNMoney) — “Forget Vegas. Strippers are discovering they can make ten times as much dancing in the oil boomtown of Williston, N.D.

Kit, a 36-year old stripper who has been dancing for 10 years in places like Las Vegas, Texas and California, first started coming to Williston a few years ago in between higher-paying jobs, because she had friends who danced in the town who were able to hook her up with gigs.

At first, the nightly tips were nothing special, but over the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Rally As Safe-haven Buying Re-emerges

Posted: 25 Oct 2011 08:06 AM PDT

Forexpros – Gold futures were up sharply on Tuesday, rallying to a six-day high as some safe-haven buying re-emerged amid fresh uncertainty over the outcome of Wednesday's critical European Union summit.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,687.75 a troy ounce during U.S. morning trade, surging 2.15%.

It earlier rose by as much as 2.3% to trade at USD1,689.75 a troy ounce, the highest price since October 17.

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

Forex – USD/JPY Close To Record Low Amid EU Uncertainty

Posted: 25 Oct 2011 07:28 AM PDT

Forexpros – The U.S. dollar weakened against the yen on Tuesday, falling to within striking distance of the pair's all-time low amid fresh uncertainty over the outcome of Wednesday's critical European Union summit.

USD/JPY hit 75.82 during U.S. morning trade, the pair's lowest since Friday; the pair subsequently consolidated at 75.86, shedding 0.33%.

The pair was likely to find support at 75.73, last Friday's low and the pair's all-time low and short-term resistance at 76.48, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ray Dalio: “Know What You Don’t Know”

Posted: 25 Oct 2011 07:24 AM PDT

Ray Dalio occupies a very special place in the Sense on Cents Hall of Fame.
Dalio is widely regarded as running the most successful money management operation in the world today, that being Bridgewater Associates.
While I certainly admire Dalio's financial acumen, I most appreciate Dalio's philosophical approach to the markets and the world as a whole. Our country would be in a far better position if we were able to get the political crowds in Washington and our state capitols to listen to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Lower On E.Z. Skepticism; Dow Jones Down 1%

Posted: 25 Oct 2011 07:13 AM PDT

Forexpros – U.S. stocks were sharply lower on Tuesday, as concerns over the outcome of Wednesday’s key European summit on the region’s debt crisis weighed on market sentiment.

During early U.S. trade, the Dow Jones Industrial Average tumbled 1%, the S&P 500 index plummeted 1.20%, while the Nasdaq Composite index dropped 0.88%.

Market sentiment was hit after a meeting of European finance ministers due to take place ahead of the summit was canceled, casting doubts over a breakthrough on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. CB Consumer Confidence Down Sharply In October

Posted: 25 Oct 2011 07:08 AM PDT

Forexpros – U.S. consumer confidence fell sharply in October, hovering close to levels last seen at the height of the 2008 financial crisis, industry data showed on Tuesday.

In a report, the Conference Board, a market research group said its index of consumer confidence fell by 6.8 points to 39.8 in October from a reading of 46.6 in September, whose figure was revised up from 45.4.

Analysts had expected the index to decline by 0.6 points to 46.0 in October.

The report showed that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Plummets After Euro-zone Finance Ministers’ Meeting Is Cancelled

Posted: 25 Oct 2011 07:08 AM PDT

Fundamental Headlines
• Banks Clash with Lawmakers on Greek Rescue – Bloomberg
• Inflation Peaking in U.S. as Commodity Prices Tumble – Bloomberg
• E.U. Waits for Italy Reforms on Eve of Crucial Summit – Reuters
• Debt Crisis Hangs Over Europe's Consumers – WSJ
• Plan Highlights Sharp Political Split – WSJ
European Session Summary
Market participants' appetite for risk which had been established and carried on speculation the past three-weeks appeared to be dwindling on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Coffee Futures Retreat From 1-month High On Profit Taking

Posted: 25 Oct 2011 06:58 AM PDT

Forexpros – Coffee futures declined for the first time in three days on Tuesday, pulling back from a one-month high as investors locked in profits following the previous session's strong gains.

On the ICE Futures Exchange, Arabica coffee for December delivery traded at USD2.4803 a pound during U.S. morning trade, dropping 1.22%.

It earlier fell by as much as 2.99% to trade at a daily low of USD2.4360 a pound.

Coffee prices rallied nearly 8% since last Friday, including a 2% gain on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Erases Losses After BoC Leaves Rates Unchanged

Posted: 25 Oct 2011 06:41 AM PDT

Forexpros – The U.S. dollar erased losses against its Canadian counterpart on Tuesday, pulling back from a five-week low after the Bank of Canada left its benchmark interest rate unchanged, citing increased risks to the global economy.

USD/CAD rebounded from 0.9990, the pair's lowest since September 21, to hit 1.0116 during early U.S. trade, jumping 0.78%.

The pair was likely to find support at 0.9990, the days low and resistance at 1.0187, last Friday's high.

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

Really Scary Facts Of The Day

Posted: 25 Oct 2011 06:35 AM PDT

1. “The GSEs (Fannie Mae and Freddie Mac) and FHA bought or guaranteed 95% of all new mortgages in fiscal year 2011! Mind blowing numbers compared to when 40% market share was seen as high in the early 2000s.” 

2. “Here are the current GSE bailout numbers: 

Fannie Mae: $103.8 billion received from the Treasury
Freddie Mac: $65.2 billion received from the Treasury
Total: $169 billion in taxpayer money to bailout mortgage investors via the GSEs

And those numbers should be going up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Almost Unchanged On E.Z. Uncertainty

Posted: 25 Oct 2011 06:30 AM PDT

Forexpros – The euro was almost unchanged against the yen on Tuesday, swinging between small gains and losses as investors eyed the outcome of Wednesday’s key European summit on the region’s debt crisis.

EUR/JPY hit 105.64 during European afternoon trade, the daily low; the pair subsequently consolidated at 105.88, shedding 0.11%.

The pair was likely to find support at 104.18, the low of October 12 and resistance at 107.68, the high of October 17.

The euro came under pressure after German … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&P/Case-Shiller Home Price Index Falls More-than-expected

Posted: 25 Oct 2011 06:16 AM PDT

Forexpros – The S&P/Case-Shiller home price index fell more-than-expected in August, declining for the fourteenth consecutive month, industry data showed on Tuesday.

In a report, Standard & Poor with Case-Shiller said its house price index fell by 3.8% in August, disappointing expectations for a 3.5% decline.

The previous month's figure was revised to a drop of 4.2% from a previously reported decline of 4.1%.

The report showed that U.S. home prices were unchanged in August from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Markets Mixed As Investors Await EU Summit Results & Netflix Drops More Than 30%

Posted: 25 Oct 2011 01:15 AM PDT

10/25/11 NYFP’s Morning Market Report: Global markets remained mixed as investors await the result of the EU summit tomorrow. Meanwhile, Netflix droppd more than 30% after-hours on a lower 4Q guidance and a subscriber … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Beware Of Media Selection Bias, Sensationalism

Posted: 25 Oct 2011 06:09 AM PDT

From an article by the Statistical Assessment Service (STATS) at George Mason University titled “The Media’s Gas Problem”:

“What people often don't realize is that the media framing of scientific studies incorporates the journalist's own perspective, whether the journalist realizes it or not. A dramatic example is the recent appearance of two scientific studies on fracking that provide a natural experiment on media sensationalism. 

Study One was critical of natural gas development; … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Canada Leaves Interest Rate Unchanged At 1.00%

Posted: 25 Oct 2011 06:08 AM PDT

Forexpros – The Bank of Canada left its benchmark interest rate unchanged in October, it announced on Tuesday.

In a statement, the central bank said it was leaving its overnight cash rate unchanged at 1.00%, in line with expectations.

According to the BoC, the global economy has slowed markedly as several downside risks to the projection outlined in the Bank's July Monetary Policy Report have been realized.

The European sovereign debt crisis has intensified, with the BoC now expecting … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Allied Gold Restarts Production At Simberi Mine

Posted: 25 Oct 2011 01:48 AM PDT

Gold production company Allied Gold (LON:ALD) has celebrated the pouring of its 250,000th ounce of gold from the Simberi Gold Mine in Papua New Guinea since commercial production first began in 2008. The milestone occurred shortly after processing was restarted following a maintenance shutdown that is likely to dent the mine's financial performance for 2011. However, Allied said it was pressing ahead with production changes that would cut the cost per ounce of production by US$50 and that is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
at

No comments:

Post a Comment