Friday, November 4, 2011

DailyMarkets.com - Affymetrix Misses On All Fronts

DailyMarkets.com - Affymetrix Misses On All Fronts

Affymetrix Misses On All Fronts

Posted: 04 Nov 2011 08:05 AM PDT

Genetic products maker Affymetrix Inc's (NASDAQ:AFFX) third-quarter fiscal 2011 adjusted (excluding one-time items such as impairment charges and provision for note receivable) loss per share of 10 cents was higher than the Zacks Consensus Estimate of a loss of 4 cents.
On a reported basis, the California-based company posted a loss of $9.8 million (or 14 cents a share) compared with a profit of $1 million (or a penny a share) a year ago as it saw a double-digit decline in sales. Moreover, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nordstrom’s October Comps Rise

Posted: 04 Nov 2011 07:50 AM PDT

Same-store sales at Nordstrom Inc. (NYSE:JWN) grew by 5.4% for the four-week period ended October 29, 2011. Total retail sales in October 2011 climbed 13.3% to $749.0 million from $662.0 million for the four-week period ended October 30, 2011.
Third-quarter 2011 Sales
The company's comparable sales in third-quarter 2011 increased 7.9% from the prior-year quarter. Total retail sales during the period surged 14.2% to $2.38 billion compared with a total retail sales of $2.09 billion in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AIG Loss Soars On Weak Dynamics

Posted: 04 Nov 2011 07:35 AM PDT

American International Group Inc. (NYSE:AIG) reported third quarter operating loss per share of $1.60, which came in way higher than the Zacks Consensus Estimate of a loss of 8 cents and 84 cents reported in the year-ago quarter. Consequently, operating loss of $3.0 billion increased drastically from $114 million in the year-ago quarter.
On a GAAP basis, AIG reported a net loss of $4.1 billion or $2.16 per share as compared with $2.5 billion or $18.53 per share in the year-ago quarter. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Holding Against The Intraday Resistance

Posted: 04 Nov 2011 07:31 AM PDT

The last leg down in the EURUSD has the 38.2% at the 1.3740 level . The low for the day is 1.3715.  A break below 1.3715 opens up more downside. A move above the 1.3740 could trigger some profit taking.  Bias remains down, but choppy two way trading is dominating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chesapeake Beats On Oil Volume

Posted: 04 Nov 2011 07:20 AM PDT

Natural gas provider, Chesapeake Energy Corp. (NYSE:CHK) has reported sharper-than-expected adjusted third quarter 2011 earnings of 72 cents per share, striding ahead of the Zacks Consensus Estimate of 65 cents. The outperformance came on the back of a 91% expansion in liquid production volumes. The reported figure showed a modest improvement from the year-earlier profit of 70 cents.
Total revenue increased 54% year over year to $3,977 million from $2,581 million reported in the comparable quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ConEd EPS Meets, Sales Miss

Posted: 04 Nov 2011 07:05 AM PDT

Consolidated Edison Inc. (NYSE:ED), also known as ConEd, announced third quarter fiscal 2011 results with pro forma earnings per share (EPS) of $1.33, in line with the Zacks Consensus Estimate. However, EPS exceeded the year-ago figure by a penny.
The results were driven by performance of ConEd’s utility and competitive energy businesses, and effective cost management strategies. It also reflects changes in rate plans of ConEd’s utility subsidiaries. The incremental revenues from revised rate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up On Jobs Data

Posted: 04 Nov 2011 06:55 AM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Friday after the release of U.S. data on Nonfarm Payrolls.

USD/JPY was trading at 78.14, up 0.11% at time of writing.

The pair was likely to find support at 75.58, Monday's low, and resistance at 79.53, Monday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose less-than-expected to a seasonally adjusted 80K last month, from 158K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PerkinElmer’s 3Q Mixed, Tweaks View

Posted: 04 Nov 2011 06:50 AM PDT

PerkinElmer(NYSE:PKI) reported third-quarter fiscal 2011 adjusted (excluding one-time expenses) earnings per share of 41 cents, beating the Zacks Consensus Estimate of 39 cents and exceeding the year-ago earnings per share of 31 cents. The results exceeded the company's earlier guidance in the range of 37 cents to 39 cents.
Net income from continuing operations (as reported) rose just 0.6% year over year to $26.7 million (or 24 cents a share) in the reported quarter from $26.5 million (or 22 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Nonfarm Payrolls Show Mixed Picture, U.S. Dollar Firms

Posted: 04 Nov 2011 06:50 AM PDT

Fundamental Headlines
• G-20 Fails to Agree on IMF Resources – Bloomberg
• Papandreou Struggles to Hold on to Power – Bloomberg
• Italy Accepts IMF Monitoriing, EU Looks for Support – Reuters
• Greece Blinks on Euro Threat – WSJ
• Key Defections Hit Berlusconi – WSJ
European Session Summary
The sideways range trade continued throughout much of the overnight session as markets eagerly awaited the results of the G-20 and the United States' labor market reading. For the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Short Term Bracket Levels In The SP500 And Dow Jones

Posted: 04 Nov 2011 06:36 AM PDT

After a stellar October, the US Equity Markets have paused briefly between two main bracket (confluence) levels.
Let's take a quick look at these levels on the daily chart and use these for trade planning:

Let's drill down to the simple levels and you can build plans from there.
After triggering a terribly violent Bear Trap in October, resulting in a large "Popped Stops" short-squeeze all the way up, price traded into the 1,300 target and then pulled back from there to the lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vornado’s Recurring FFO Beats

Posted: 04 Nov 2011 06:35 AM PDT

Vornado Realty Trust (NYSE:VNO), a leading real estate investment trust (REIT), reported third quarter 2011 FFO (funds from operations) of $195.1 million or $1.05 per share, versus $249.0 million or $1.31 in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
After adjusting items for comparability, FFO during the third quarter of 2011 was $222.9 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

What A Way To End The Week

Posted: 04 Nov 2011 06:32 AM PDT

Friday, November 4, 2011
The European Central Bank surprised the market by lowering the benchmark interest rate by 25 basis points to 1.25%. This would normally be considered bearish for the Eurocurrency, but its value vs. the US Dollar is little changed as of this writing. There is some talk among analysts that if the current Greek government were to dissolve, we may see a surprise rally in the Euro, as the fall of the government may take the Euro referendum off the table. It should come as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Remains Contained After Report

Posted: 04 Nov 2011 06:31 AM PDT

The EURUSD whipped around at 8:30 on the weaker headline, stronger revisions and is now working through what it wants to do.
The range took the price above the 13851 (38.2% of the move down from the October 26th high to the low) – reaching a high of 1.3867.  The low post the report has come in at the 1.38049. The midpoint of the range comes in at the 1.3836 level.
On the hourly chart, the price moved above the 38.2% of the move down from the late October high at the 1.3851 but … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD And GBPUSD Move Below 100 Hour MA

Posted: 04 Nov 2011 06:31 AM PDT

Both the EURUSD and GBPUSD has moved below the 100 hour MA levels at the 1.3778 (currently for the EURUSD ) and 1.5993 (for the GBPUSD).
For the EURUSD , the next target for the pair comes in at the 1.37375 area. This was a nice floor in yesterdays trading for the pair and is also the 50% of the move up from the low this week.  A move below this level would open the downside for further selling in the pair
For the GBPUSD, staying below the 1.6000 level now targets its 50% retracement of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down On Jobs Data

Posted: 04 Nov 2011 06:25 AM PDT

Forexpros – The British Pound was lower against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

GBP/USD was trading at 1.5983, down 0.36% at time of writing.

The pair was likely to find support at 1.5877, Thursday's low, and resistance at 1.6166, Monday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose less-than-expected to a seasonally adjusted 80K last month, from 158K in the preceding month whose figure was revised up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Jobs Report Asserts Favorable Bias

Posted: 04 Nov 2011 06:20 AM PDT

This morning’s October non-farm payroll report was a tad weaker than expected on the headline basis, but the report’s internals confirm the positive momentum that we have been seeing lately in a number of other economic readings.
I view this report as modestly positive as it adds to the growing list of favorable economic readings that have effectively pushed recession fears to the sidelines. Beyond the U.S. shores, some light appears to have come out of the dark European clouds as well, with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Starbucks Brews Higher Profit

Posted: 04 Nov 2011 06:20 AM PDT

Starbucks Corporation (SBUX) registered robust results for the fourth quarter fiscal 2011. Quarterly earnings increased 16% year over year to 37 cents a share. It slivered past the Zacks Consensus Estimate of 36 cents by a penny.
Management applauded the overall health and strength of the company's global business. Moreover, product innovation and overall store experience fuelled same store sales growth. The 'Good for You' initiative that the company had been operating to attract … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Public Storage Beats Handsomely

Posted: 04 Nov 2011 06:15 AM PDT

Public Storage (NYSE:PSA), a leading real estate investment trust (REIT) operating self-storage facilities, reported third quarter 2011 FFO (funds from operations) of $1.29 per share, compared with $1.69 in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding several non-recurring items, FFO for third quarter 2011 was $1.56 per share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Agnico-Eagle Mines Limited, Allos Therapeutics, Abercrombie & Fitch Company, The DIRECTV Group, Estee Lauder Companies, Energizer Holdings, Pacific Gas & Electric Co., Elizabeth Arden, Savient Pharmaceuticals Inc, Teva Pharmaceutical Industries Limited

Posted: 04 Nov 2011 06:15 AM PDT

    Allos Therapeutics (NASDAQ:ALTH) posted a Q3 loss of $0.11 per share, lower than the Zacks Consensus Estimate for a loss of $0.15 per share. Revenues for the quarter rose 73.2% year-over-year to $14.2 million, surpassing the Zacks Consensus Estimate of $13.0 million

    Elizabeth Arden (NASDAQ:RDEN) reported Q1 EPS of $0.31, exceeding the Zacks Consensus Estimate of $0.29 per share. Revenues for the quarter rose 6.6% year-over-year to $303.5 million, marginally … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Mixed Bag For Scripps Networks

Posted: 04 Nov 2011 05:50 AM PDT

Scripps Networks Interactive Inc. (NYSE:SNI) reported mixed financial results for the third quarter of 2011. Quarterly consolidated revenue of $503.7 million was up 7.9% year over year, but fell below the Zacks Consensus Estimate of $510 million.
Quarterly GAAP net income from continuing operation was $98.6 million or 65 cents per share compared with a net income of $101.7 million or 61 cents per share in the prior-year quarter. The third-quarter 2011 EPS of 65 cents was exactly in line with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On U.S. Data

Posted: 04 Nov 2011 05:50 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Nonfarm Payrolls.

EUR/USD was trading at 1.3827, up 0.03% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4169, Monday's high.

Earlier in the day, official data showed that U.S. non-farm payrolls rose less-than-expected to a seasonally adjusted 80K last month, from 158K in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Non-farm Payrolls Rise Less-than-expected

Posted: 04 Nov 2011 05:40 AM PDT

Forexpros – U.S. non-farm payrolls rose less-than-expected last month, official data showed on Friday.

In a report, the U.S. Department of Labor said non-farm payrolls rose to a seasonally adjusted 80K, from 158K in the preceding month whose figure was revised up from 103K.

Analysts had expected U.S. non-farm payrolls to rise 95K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rewarding Proven Success With Competitive Prizes Vs. Subsidizing Failure With Government Subsidies

Posted: 04 Nov 2011 05:37 AM PDT

From Julian Morris and Adam Peshek at the Reason Foundation (emphasis mine):

“The Obama administration should be examining a recent example that shows how to spur environmental innovation and progress – without putting any taxpayer money at risk. Last year, the X Prize Foundation and Wendy Schmidt partnered to create the Oil Cleanup X Challenge to "develop innovative, rapidly deployable, and highly efficient methods of capturing crude oil from the ocean surface."

The Deep Water Horizon … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Unemployment Rate Falls Unexpectedly

Posted: 04 Nov 2011 05:35 AM PDT

Forexpros – The rate of unemployment in the U.S. last month fell unexpectedly, official data showed on Friday.

In a report, the U.S. Department of Labor said the unemployment rate fell to a seasonally adjusted 9.0%, from 9.1% in the preceding month .

Analysts had expected the U.S. unemployment rate to remain unchanged at 9.1% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gap’s Comps Falls Yet Again

Posted: 04 Nov 2011 05:31 AM PDT

Gap Inc. (NYSE:GPS), one of the leading global specialty retailers, reported a 6.0% drop in same-store sales for the four-week period ended October 29, 2011. Results for the month also compared unfavorably with the year-over-year same-store sales growth of 4.0%.
Gap witnessed a contraction in same-store sales across each of its segments except Banana Republic North America. The company reported a decline of 9.0% in Old Navy North America segment compared with a positive 4.0% growth in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fluor Misses Estimate

Posted: 04 Nov 2011 05:17 AM PDT

Fluor Corporation(FLR) reported third-quarter 2011 earnings per share of 78 cents, below the Zacks Consensus Estimate of 86 cents. Prior-year loss per share was 30 cents.
Total Revenue
Total revenue was $6.0 billion compared with $5.5 billion in the second quarter of 2010. The 10% growth was aided by the company's strong position in the market even in the prevailing uncertain macroeconomic environment. The company gained good new awards in the quarter, valued at $6.7 billion versus $7.6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CBS Corporation Delivers Strong 3Q

Posted: 04 Nov 2011 05:11 AM PDT

Healthy top-line performance, effective strategic measures, and operating efficiencies facilitated CBS Corporation (NYSE:CBS) to post better-than-expected third-quarter 2011 results. The quarterly earnings of 50 cents a share beat the Zacks Consensus Estimate of 46 cents and surged 43% from 35 cents earned in the year-ago quarter.
What Numbers Say?
Revenue inched up 2% year over year to $3,365 million, which is quite a healthy figure as the reported quarter lacked significant political advertising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On Economic Data

Posted: 04 Nov 2011 04:55 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of euro zone data on German Factory Orders.

EUR/USD was trading at 1.3848, up 0.18% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4169, Monday's high.

Earlier in the day, official data showed that German factory orders fell unexpectedly to a seasonally adjusted -4.3% last month from -1.4% in the preceding month.

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

Forex – USD/CAD Up On Economic Data

Posted: 04 Nov 2011 04:15 AM PDT

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday after the release of Canadian data on Employment Change.

USD/CAD was trading at 1.0195, up 1.27% at time of writing.

The pair was likely to find support at 0.9924, Monday's low, and resistance at 1.0224, Tuesday's high.

Earlier in the day, official data showed that Canadian employment change fell unexpectedly to a seasonally adjusted -54.0K last month from 60.9K in the preceding month.

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

Canadian Employment Change Falls Unexpectedly

Posted: 04 Nov 2011 04:10 AM PDT

Forexpros – Canadian employment change fell unexpectedly last month, official data showed on Friday.

In a report, Statistics Canada said that Canadian employment change fell to a seasonally adjusted -54.0K, from 60.9K in the preceding month.

Analysts had expected Canadian employment change to rise 20.0K last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

German Factory Orders Fall Unexpectedly

Posted: 04 Nov 2011 04:10 AM PDT

Forexpros – German factory orders fell unexpectedly last month, official data showed on Friday.

In a report, Bundesministerium für Wirtschaft und Technologie said that German factory orders fell to a seasonally adjusted -4.3%, from -1.4% in the preceding month.

Analysts had expected German factory orders to rise 0.3% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up On Economic Data

Posted: 04 Nov 2011 03:15 AM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of euro zone data on PPI.

EUR/USD was trading at 1.3831, up 0.06% at time of writing.

The pair was likely to find support at 1.3609, Tuesday's low, and resistance at 1.4169, Monday's high.

Earlier in the day, official data showed that Euro zone producer price inflation rose more-than-expected to a seasonally adjusted 0.3% last month from -0.2% in the preceding month whose figure was revised down from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Zone PPI Rises More-than-expected

Posted: 04 Nov 2011 03:10 AM PDT

Forexpros – Euro zone producer price inflation rose more-than-expected last month, official data showed on Friday.

In a report, Eurostat said that Euro zone PPI rose to a seasonally adjusted 0.3%, from -0.1% in the preceding month.

Analysts had expected Euro zone PPI to rise 0.2% last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Iceland Central Bank Lifts Rate 25bps To 4.75%

Posted: 04 Nov 2011 02:42 AM PDT

Iceland’s Sedlabanki increased its seven-day collateral lending rate by 25 basis points to 4.75% from 4.50% previously.  The Bank said: “Recent data and the Central Bank forecast published today in the Monetary Bulletin confirm that Iceland’s economic recovery continues, despite weakening global growth and increased uncertainty. Output is expected to grow slightly faster in 2011 and 2012 than was forecast in August, and inflation is projected to be somewhat lower in coming … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Danmarks Nationalbank Cuts Rate 35bps To 1.20%

Posted: 04 Nov 2011 02:00 AM PDT

The Danmarks Nationalbank cut its key lending rate by 35 basis points to 1.20% from 1.55%.  The Bank also cut the interest on certificates of deposit -35 basis points to 0.65%, the current account rate -35 basis points to 0.55%, and the discount rate -25 basis points to 1.00%.  The Bank said in its press release: “The interest rate reduction is a consequence of the reduction by the European Central Bank of its rate on the main refinancing operations by 0.25 percentage point … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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