Wednesday, November 2, 2011

DailyMarkets.com - American Express Boosts Its Credit Card Rewards Programs

DailyMarkets.com - American Express Boosts Its Credit Card Rewards Programs

American Express Boosts Its Credit Card Rewards Programs

Posted: 02 Nov 2011 07:34 AM PDT

American Express (NYSE:AXP) cards are known for catering to affluent consumers with their many unique perks and rewards programs, so it’s no surprise that in their recent third quarter earnings announcement, it was disclosed that American Express had spent 24% more on their rewards programs during that time – the third quarter in a row that the card giant has invested in increasing cardholders’ rewards programs. Even though they had spent more, they surprised everyone with a net income that was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Has A Lot Going On At The 1.6039 Area

Posted: 02 Nov 2011 06:31 AM PDT

The upward sloping trendline, the ceiling from October 25th, 26th and 27th, and the 100 hour MA come in at the 1.6039 area.  This level was tested earlier today. So it is the second test today.  Below is the 200 hour MA at the 1.6000 level.
The 100 day MA is also in play today at the 1.60237 level.  The price is back below the level  after the quick move higher.   Staying below the 1.60237 level and a subsequent fall below the 1.6000 level, should put the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: BB&T, BankAtlantic Bancorp, Citigroup, Gol Linhas Aereas Inteligentes S.A., ITT Industries, Marathon Oil, Pfizer, Tenet Healthcare Corporation

Posted: 02 Nov 2011 06:16 AM PDT

    Pfizer (NYSE:PFE) posted Q3 EPS of $0.62, exceeding the Zacks Consensus Estimate of $0.56 per share. Revenues for the quarter rose 7% year-over-year to $17.19 billion

    Tenet Healthcare (NYSE:THC) reported Q3 EPS of $0.04, ahead of the Zacks Consensus Estimate for $0.01. Revenues for the quarter rose 3.5% year-over-year to $2.34 billion

    Marathon Petroleum Corporation (NYSE:MRO) posted earnings from continuing operations of $0.59 cents per share, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Talisman Shy Of Estimates

Posted: 02 Nov 2011 06:16 AM PDT

Canadian energy explorer Talisman Energy Inc. (TLM) came out with weaker-than-expected third quarter 2011 results, hamstrung by higher deferred taxes on the back of exchange rate movements.
Alberta-based Talisman – which recently changed its reporting currency to U.S. dollars – announced earnings per share from continuing operations (excluding non-operating items) of 16 cents, below the Zacks Consensus Estimate of 21 cents. Total revenue of $1,956.0 million also failed to match our … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Ready To Attack Prior Highs In The 1900’s

Posted: 02 Nov 2011 06:12 AM PDT

David Banister- www.MarketTrendForecast.com
It's been several weeks since I've written about Gold and we have had a wild ride since the 1910-1920 highs in August.  At the time as we approached I forecasted a major correction was nigh and we were shorting the rise from 1862-1910 prior to a huge $208 drop that took place over just a few days.  We covered our short at $1725 and then Gold rallied back to a double top at $1920 and then fell back to $1531.
That pullback to $1531 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

G-20 Left To Pick Up Pieces

Posted: 02 Nov 2011 06:05 AM PDT

The Greek referendum news has sucked the oxygen out of the market. We were all getting ready to build on October’s impressive gains by aligning our portfolios for positive momentum in these final months of the year. A key contributing factor in this improving backdrop was last week’s Euro-zone deal, which appeared to provide for a viable framework to address the problem.
Today’s G-20 summit in Cannes, France, was expected to give the Euro-zone deal a global seal of approval. Instead, they are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JDS Uniphase Tops Estimate

Posted: 02 Nov 2011 06:05 AM PDT

Yesterday, after market close, JDS Uniphase Corp. (NASDAQ:JDSU) declared solid financial results for the first quarter of fiscal 2012. The company, which manufactures broadband and optical networking components for the telecom industry, generated solid top-line and bottom-line growth. As a result, in the after market trade on NASDAQ, stock price of JDS Uniphase was up by 53 cents (4.62%) to $12.01.
Optical Networking component sector is highly competitive. The company competes fiercely with several … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Mixed Amid E.Z. Worries; DAX Up 0.77%

Posted: 02 Nov 2011 05:52 AM PDT

Forexpros – European stock markets were mixed on Wednesday, as investors remained cautious amid concerns over a Greek vote on its latest bailout deal and ahead of the outcome of the Federal Reserve’s policy-setting meeting.

During European afternoon trade, the EURO STOXX 50 rose 0.57%, France's CAC 40 advanced 0.81%, while Germany's DAX 30 climbed 0.77%.

Earlier in the day, Greece’s Prime Minister George Papandreou won the backing of his cabinet to hold a referendum on a EUR130 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Comcast Misses Zacks Estimate

Posted: 02 Nov 2011 05:50 AM PDT

Comcast Corp. (NASDAQ:CMCSA) underperforms in the third quarter of 2011. Nevertheless, there is a silver lining in its third quarter report. Although the company continues to suffer huge video subscriber loss, it has actually declined by a whopping 40% year over year.
EPS
GAAP net income for the third quarter of 2011 was $908 million or 33 cents per share compared with a net income of $867 million or 31 cents per share in the prior-year quarter. However, quarterly EPS of 33 cents was significantly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Capital Lags By A Penny

Posted: 02 Nov 2011 05:50 AM PDT

American Capital Ltd.'s (NASDAQ:ACAS) third-quarter 2011 operating income of 19 cents per share fell below the Zacks Consensus Estimate by a penny. However, the results outpaced the prior-year quarter's earnings by 2 cents per share. The favorable outcome was due to a drop in operating expenses, though partially offset by a decline in interest and dividend income in the reported quarter.
Net loss for the quarter was $464 million, or $1.34 per share, significantly down from net income of $149 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Weakness Hurts OSG’s 3Q

Posted: 02 Nov 2011 05:35 AM PDT

Overseas Shipholding Group Inc. (NYSE:OSG), the second largest independent oil tanker company in the world, reported disappointing financial results for the third quarter of 2011. The company suffered losses for the tenth straight quarters. The spot rate of its very large crude carriers (VLCC) fell 66% in the previous quarter. Unfortunately, Overseas Shipholding has significant spot exposure.
Quarterly Shipping revenue was nearly $256.4 million, down 1.4% year over year. Third-quarter Time Charter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Extends Losses As Fed Statement Awaited

Posted: 02 Nov 2011 05:30 AM PDT

Forexpros – The U.S. dollar extended broad losses against its major counterparts on Wednesday, as investors awaited the outcome of the Federal Reserve's policy setting meeting, while developments in the euro zone were closely watched after Tuesday's shock call for a Greek bailout referendum.

During European afternoon trade, the dollar was down against the euro, with EUR/USD rising 0.59% to hit 1.3784.

Greece’s Prime Minister George Papandreou won the backing of his cabinet to hold a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. ADP Non-farm Payrolls Rise More-than-expected

Posted: 02 Nov 2011 05:20 AM PDT

Forexpros – U.S. non-farm private employment rose more-than-expected in October, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 110,000 in October, beating expectations for an increase of 100,000.

The previous month's figure was revised up to a gain of 116,000 from a previously reported increase of 91,000.

The report said employment in the service-providing sector rose by 114,000 in October, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Barrick Posts Strong Results

Posted: 02 Nov 2011 05:17 AM PDT

Barrick Gold Corp. (NYSE:ABX) posted record third-quarter 2011 results driven by higher gold and copper prices along with higher copper sales volumes. The third quarter reported a net income of $1.37 billion or $1.37 per share.
Adjusted net income was up 52% year over year to $1.39 billion or $1.39 per share compared with $912 million or 93 cents per share in the prior-year quarter, above the Zacks Consensus Estimate of $1.30.
Revenue
In the third quarter of 2011, total revenue rose 43.7% year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pitney Bowes Beats Estimates

Posted: 02 Nov 2011 05:00 AM PDT

Pitney Bowes Inc. (NYSE:PBI) reported third-quarter 2011 earnings per share from continuing operations of 69 cents, above the Zacks Consensus Estimateof 54 cents and prior-year earnings of 55 cents.
The earnings in the quarter benefited $0.05 per diluted share from insurance reimbursements and $0.08 per diluted share from IRS tax settlement. In the previous two quarters, the company's earnings suffered from loss due to the fire at the company's Dallas presort facility, which in the reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Trims Gains Amid E.Z. Uncertainty

Posted: 02 Nov 2011 04:57 AM PDT

Forexpros – The pound trimmed gains against the U.S. dollar on Wednesday, pulling back from a daily high amid ongoing concerns over the outcome of a Greek referendum on its latest bailout deal.

GBP/USD pulled back from 1.6047, the daily high to hit 1.5990 during European afternoon trade, still up 0.25%.

The pair was likely to find support at 1.5843, the low of September 9 and resistance at 1.6092, the high of November 1.

Earlier in the day, Greece’s Prime Minister George Papandreou won the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Edges Higher As Fed FOMC Meeting Eyed

Posted: 02 Nov 2011 04:41 AM PDT

Forexpros – The euro edged higher against the U.S. dollar on Wednesday, amid speculation that the Federal Reserve would signal a fresh round of easing after its policy-setting meeting later in the day.

EUR/USD hit 1.3802 during early European afternoon trade, the daily high; the pair subsequently consolidated at 1.3771, rising 0.50%.

The pair was likely to find support at 1.3607, the low of November 1 and resistance at 1.3868, the high of October 19.

Earlier in the day, Greece’s Prime … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybean Futures Bounce Off 3-week Low As Dollar Weakens

Posted: 02 Nov 2011 04:25 AM PDT

Forexpros – Soybean futures were up for the first time in three days on Wednesday, as the U.S. dollar came under pressure ahead of the conclusion of the Federal Reserve's policy-setting meeting later in the day.

On the Chicago Mercantile Exchange, soybean futures for January delivery traded at USD12.1113 a bushel during European morning trade, gaining 0.68%.

It earlier rose by as much as 0.95% to trade at a daily high of USD12.1825 a bushel.

Soybean prices gained as the dollar index, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Rise Ahead Of Fed Meeting; Dow Jones Up 0.09%

Posted: 02 Nov 2011 04:11 AM PDT

Forexpros – U.S. stock futures edged higher on Tuesday, as investors remained cautious ahead of the Federal Reserve’s policy-setting meeting and amid concerns over Greece’s unexpected referendum.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.09%, S&P 500 futures signaled a 0.13% increase, while the Nasdaq 100 futures indicated a 0.05% gain.

U.S. stocks remained vulnerable amid speculation that the Fed could revise down its forecasts for economic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sold RUSS – $40.00

Posted: 02 Nov 2011 03:56 AM PDT

This is a daily chart of the Direxion Russia Bear 3X ETF (RUSS) which I sold yesterday at $40.00 for just shy of a 12% loss. My expectation that the US Dollar daily cycle had bottomed was clearly an attempt to catch a falling knife that failed, as price went considerably against me and immediately after my purchase at $45.38.

For the past couple of weeks I have devoted every free moment to working on programming a Think or Swim (TOS) cutom indicator that I hope will eventually take … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Edges Higher, Gains Limited After U.K. Data

Posted: 02 Nov 2011 03:50 AM PDT

Forexpros – The euro edged higher against the pound on Wednesday, but gains were capped as investors remained wary amid concerns over a planned referendum by Greece and after better-than-expected U.K. construction PMI data.

EUR/GBP hit 0.8614 during European morning trade, the daily high; the pair subsequently consolidated at 0.8612, gaining 0.25%.

The pair was likely to find support at 0.8547, Tuesday's low and a one-month low and short-term resistance at 0.8647, the high of October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil, Gold Set To Rebound As Markets Bet On Dovish Fed Rhetoric

Posted: 02 Nov 2011 03:43 AM PDT

Talking Points

Crude Oil Prices to Rise as Risk Appetite Recovers Before FOMC
Gold Bounce Likely as Markets Read Dovish Lean in Fed Statement

WTI Crude Oil (NY Close): $92.19 // -1.00 // -1.07%
S&P 500 stock index futures are pointing firmly higher as risk appetite filters back into the markets ahead of the Federal Reserve monetary policy announcement, with crude oil prices likely to follow. Traders are holding out hope that clues of a third round of quantitative easing (QE3) will emerge … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Futures Regain Strength Ahead Of Fed Meeting

Posted: 02 Nov 2011 03:39 AM PDT

Forexpros – Copper futures rose for the first time in three days on Wednesday, as the U.S. dollar came under pressure ahead of the conclusion of the Federal Reserve's policy-setting meeting later in the day.

On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.591 a pound during European morning trade, jumping 2.54%.

It earlier rose by as much as 3.1% to trade at a daily high of USD3.629 a pound.

The Fed's Open Market Committee … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Down Ahead Of Fed Meeting

Posted: 02 Nov 2011 03:25 AM PDT

Forexpros – The U.S. dollar edged down against the Swiss franc on Wednesday, as speculation that the Federal Reserve will green light new easing measures at its next policy-setting meeting sent the greenback broadly lower.

USD/CHF hit 0.8816 during European morning trade, the daily low; the pair subsequently consolidated at 0.8850, shedding 0.23%.

The pair was likely to find support at 0.8609, the low of October 31 and resistance at 0.8959, the high of November 1.

The dollar came under … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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