Monday, November 28, 2011

DailyMarkets.com - Cintas Downgraded To Neutral

DailyMarkets.com - Cintas Downgraded To Neutral

Cintas Downgraded To Neutral

Posted: 28 Nov 2011 12:05 PM PST

We have recently downgraded Cintas Corporation (NASDAQ:CTAS) from Outperform to Neutral as the positives like solid organic growth and margin expansion are undercut by headwinds from cotton and energy prices and an uncertain economic environment.
In the first quarter of 2012, Cintas reported earnings of 52 cents per share, comfortably surpassing the Zacks Consensus Estimate of 47 cents and 30% higher than the 40 cents earned in the year-ago quarter. Strong performance across all its business … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Medtronic

Posted: 28 Nov 2011 11:50 AM PST

The announcement of Medtronic's (NYSE:MDT) second quarter fiscal 2012 results, as on November 22, 2011, has led analysts to revise their estimates lower for the third quarter although the situation improves for the current fiscal.
Second Quarter Highlights
Medtronic reported an adjusted EPS of 84 cents in the second quarter of fiscal 2012, a couple of cents above the Zacks Consensus Estimate and the year-ago quarter.  
Revenues were $4.132 billion in the quarter, up 6% (up 3% at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR/USD Continues Bearish Trend To Target Key 1.3000 Support

Posted: 28 Nov 2011 11:41 AM PST

EUR/USD (daily chart) as of Monday (11/28/2011) has continued its fall down below the key 1.3300 price region, continuing a month-long bearish trend after hitting a high around 1.4250 resistance in late October. This month-long plummet is comparable in slope to the immediately preceding month-long rise that occurred throughout the month of October. Currently, the key downside support target to watch resides around the 1.3150 price region, which was last reached in early October. In the event … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

‘Jet Man’ Stunts Alongside Fighter Jets Over Alps

Posted: 28 Nov 2011 11:40 AM PST

Novartis’ Rasitrio Cleared In EU

Posted: 28 Nov 2011 11:30 AM PST

Novartis (NYSE:NVS) recently announced that its triple combination hypertension pill Rasitrio has been cleared in the European Union (EU). Rasitrio combines the currently marketed hypertension pill Razilez (marketed as Tekturna in the US) with amlodipine and hydrochlorothiazide (HCT). The pill is already marketed as Amturnide in the US.
The approval of Rasitrio was based on data from late stage trials which showed that the drug significantly reduced blood pressure as compared to dual combinations … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Housing And Jobs In The Spotlight

Posted: 28 Nov 2011 11:20 AM PST

Earnings Preview 11/25/11

There will only be a handful of firms reporting next week, as the third quarter reporting season is almost over. A total of 69 firms are scheduled to report, including 4 of the S&P 500.

The firms reporting next week include Big Lots (NYSE:BIG), H&R Block (NYSE:HRB), Bank of Nova Scotia (NYSE:BNS), Kroger's (NYSE:KR), Royal Bank of Canada (NYSE:RY), Toronto Dominion (NYSE:TD) and Tiffany's (NYSE:TIF).

While there will not be that much going on with the earnings front, it will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Climate Change: At What Price Growth?

Posted: 28 Nov 2011 11:20 AM PST

South Africa is playing host to the climate conference, which opens today in the city of Durban. Climate change conferences focus on reducing global temperatures, which appear to accelerate global warming.
The Kyoto Protocol (1997), the game-changer in climate negotiations had identified developed countries as primarily responsible for high levels of green house gas emissions following decades of unbridled industrialization. The protocol requires countries to lower emissions according to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Is AT&T/T-Mobile Merger Going Sour?

Posted: 28 Nov 2011 11:20 AM PST

The proposed $39 billion merger of AT&T Inc. (NYSE:T) and T-Mobile USA seems unlikely. AT&T plans to take a $4 billion charge in the fourth quarter against its takeover, showing increased chances of failure rather than success.
Previously, upon the announcement of the merger deal in March, AT&T agreed to pay T-Mobile $3 billion in cash and $1 billion for spectrum access, should the deal fail.
The proposed transaction is also regulatory attack. First the Department of Justice (DoJ) and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Navigant Downgraded To Neutral

Posted: 28 Nov 2011 11:05 AM PST

We have recently downgraded Navigant Consulting Inc. (NYSE:NCI) to Neutral from Outperform.
Navigant reported strong quarterly results and lifted its full-year guidance. The company's third-quarter 2011 adjusted earnings per share exceeded the Zacks Consensus Estimate by 2 cents. The better-than-expected results were driven by increased demand across the company's key practice areas. Navigant's total revenue also grew both annually and sequentially.  
Riding on the opportunities … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Following Delay Of The Keystone XL Pipeline To U.S, China Is Anxious To Tap Into Canada’s Tar Sands Oil

Posted: 28 Nov 2011 11:01 AM PST

It shouldn’t be any surprise that following Obama’s decision to delay the decision on the Keystone XL pipeline until after the 2012 election, and in the process kill 20,000 “shovel-ready” U.S. jobs, Canada is now looking westward to China as an alternative destination for Alberta’s vast tar-sands oil (output is expected to double by the end of the decade).  Here are two recent reports:

1. Reuters — “China is set to embrace Canada’s offer of more crude oil, heating up competition with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Is The Time Ripe To Buy Stocks?

Posted: 28 Nov 2011 10:50 AM PST

It is said that opportunities are never lost — someone else will catch the one you miss. And the saying remains true to the equity market. No one wants to miss a good opportunity to make exceptional profits from stock markets.
So, is this the time to take the plunge? Or should we wait for the markets to fall further?
Well, considering the increasing concerns related to the European economy, it’s hard to predict the direction of market movement. However, given the significant exposure of U.S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Kroger

Posted: 28 Nov 2011 10:50 AM PST

The Kroger Company (NYSE:KR), one of the largest grocery retailers, is slated to report third-quarter 2011 financial results before the bell on Thursday, December 1, 2011. The current Zacks Consensus Estimate for the quarter is 31 cents a share. The Zacks Consensus estimates revenue at $20,394 million.
Second-Quarter 2011, a Synopsis
Kroger's quarterly earnings of 41 cents a share jumped 7.9% from 38 cents delivered in the prior-year quarter. Management hinted that the increase in the bottom … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up During The U.S. Session

Posted: 28 Nov 2011 10:45 AM PST

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on New Home Sales.

USD/JPY was trading at 78.00, up 0.35% at time of writing.

The pair was likely to find support at 76.93, Wednesday's low, and resistance at 78.24, today's high.

Earlier in the day, official data showed that new home sales in the U.S. rose unexpectedly to a seasonally adjusted annual rate of 307K last month from 303K in the preceding month whose figure was revised … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

One-Year ARMs Fall To Lowest Level In U.S. History

Posted: 28 Nov 2011 10:42 AM PST

At 2.79%, one-year adjustable rate mortgages fell last week to the lowest level in U.S. history, going all the way back to 1986 (see chart above) following the “legalization” of ARMs in the U.S. by the “Garn–St. Germain Depository Institutions Act” in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Statoil Cuts Yield On Storm Alert

Posted: 28 Nov 2011 10:35 AM PST

Statoil ASA (NYSE:STO) has reduced its output at three platforms off central Norway as a precautionary measure against a severe winter storm forecast for the weekend.
The non-critical personnel have been removed from three of its platforms namely ––Njord, Heidrun and Aasgard, at the same time stressing there has been no evacuation. Apart from these, the other platforms of Statoil, off Norway, will maintain production at normal levels and the company’s overall output would not be drastically … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wells Fargo Eyes Irish Assets

Posted: 28 Nov 2011 10:20 AM PST

On Friday, Bloomberg reported that Wells Fargo & Company (NYSE:WFC) might purchase the London-based Burdale Finance Ltd. unit from Dublin-based Bank of Ireland PLC (NYSE:IRE). In 2004, Bank of Ireland acquired Burdale from Wachovia Corp. for €71 million.
Bank of Ireland was contemplating the sale of Burdale since April and has hired Hawkpoint Partners Ltd. as an advisor in this regard. The sale of Burdale is expected to be completed by the end of 2011.
Burdale Finance Ltd. provides loans … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Euro-Turkey

Posted: 28 Nov 2011 10:05 AM PST

While the U.S. was focused on feasting, football and shopping, the turmoil in Europe continued. The situation there continues to deteriorate. No longer are the problems confined to the small, relatively insignificant economies around the Mediterranean. This week, they even spread to Germany, where a bond auction failed disastrously.

Since November 9th, the yield on the 10-year Bund has climbed from 1.72% to the current 2.26%. Worse, that sharp rise in bund yields did not result in a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Willis Group Downgraded

Posted: 28 Nov 2011 10:05 AM PST

We are downgrading our recommendation on Willis Group Holdings plc (NYSE:WSH) to Underperform from Neutral due to the headwind from The Loan Protector business that is expected to weigh on its North American results.
The Loan Protector business acquired through the Hilb Rogal and Hobbs purchase has experienced a revenue dip. The decline was largely due to client loss through attrition and merger and acquisition activity, tightened commission and drag in foreclosure.
The company, therefore, expects … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Higher; Dax Up 4.60%

Posted: 28 Nov 2011 10:05 AM PST

Forexpros – European stocks were up after the closing bell on Monday.

At the close of European trade, Germany's DAX rose 4.60%, London's FTSE 100 gained 2.87%, France's CAC 40 climbed 5.46% and the EURO STOXX 50 was up 5.23%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 2.45%; the S&P 500 index gained 2.74%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BB&T-BankAtlantic Deal Opposed

Posted: 28 Nov 2011 09:50 AM PST

A group of corporate debt investors of BankAtlantic, a wholly-owned subsidiary of BankAtlantic Bancorp Inc. (NYSE:BBX), filed a lawsuit against the firm to stop it from selling its loans, deposits and branches to BB&T Corporation (NYSE:BBT). These investors believe that this sale infringes the terms of their creditors' agreement.
Earlier on November 1, BB&T had announced about its plan to acquire BankAtlantic. Under the terms of the deal, the company would acquire $2.1 billion in loans and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hopes Of Debt Progress Lifts Euro

Posted: 28 Nov 2011 09:45 AM PST

11/28/11 The combination of hopes of progress for the eurozone debt crisis and strong Black Friday sales figures helped the euro currency rebound to start the new trading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Union Pacific Remains Neutral

Posted: 28 Nov 2011 09:40 AM PST

Union Pacific Corp. (NYSE:UNP) reported excellent financial results for the third quarter of 2011 despite facing several challenges, such as extreme heat, floods, late harvest, and reduced shipment of containers. Both revenue and EPS was well above the Zacks Consensus Estimates. Increased fuel cost recoveries, core pricing gain, and volume growth helped Union Pacific to perform fabulously. The freight railroads are gaining momentum over the truckers due to significant rise in fuel costs of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EU Wine Cartel Is “Whining” About Competition

Posted: 28 Nov 2011 09:37 AM PST

Decanter.com — “European wine growing regions are battling European Commission plans to allow massive vineyard expansion. 

If the reform goes through, by 2019 there will be no restrictions to planting vines across the European Union, even in countries that today have no vineyards. Bordeaux vineyards could theoretically rise from 120,000 hectares (ha) to 220,000ha, and Burgundy from 28,000ha to 59,000ha.”

According to an industry spokesman, “The effect of this could be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Second Milestone For Cardica

Posted: 28 Nov 2011 09:20 AM PST

Surgical devices maker Cardica (NASDAQ:CRDC) has achieved the second milestone for its Microcutter product line under its distribution pact with Century Medical, a leading supplier of medical equipment in Japan. The Microcutter line of novel endoscopic stapling devices is geared for use in a variety of surgeries that require cutting and stapling.
The agreement, which was inked in September 2011, provides Century Medical with exclusive rights to distribute the Microcutter products in Japan. In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IsoRay’s GliaSite Gets Final Nod

Posted: 28 Nov 2011 09:05 AM PST

IsoRay Inc (ISR), which makes the Cesium-131 internal radiation therapy (brachytherapy) isotope, has crossed the last regulatory hurdle for its GliaSite radiation therapy system, a balloon catheter used in treating brain cancer.
The product has been cleared by the Washington State Department of Health, representing the final step required to commence its commercialization in the U.S. GliaSite was approved by the U.S. Food and Drug Administration ("FDA") in September 2011.
IsoRay had … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Preview To Holiday Retail

Posted: 28 Nov 2011 08:50 AM PST

The National Retail Federation ("NRF"), an industry trade group, projects a 2.8% growth in sales, amounting to $465.6 billion, during the current November to December holiday season, lower than the 5.2% rise in the corresponding period of the previous year. Online retail may increase 15% to touch $37.6 billion. These estimates reveal a rebound in consumer expenditure, which amounts to about 70% of the U.S. economy.
Brick-and-mortar retailers ran extended hours post Thanksgiving in order to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Israel Cuts Interest Rate 25bps To 2.75%

Posted: 28 Nov 2011 08:35 AM PST

The Bank of Israel cut its benchmark interest by 25 basis points to 2.75% from 3.00%.  The Bank said: “The decision to reduce the interest rate to 2.75 percent for December is consistent with the interest rate policy that is intended to entrench the inflation rate within the price stability target of 1–3 percent inflation a year over the next twelve months, and to support growth while maintaining financial stability. The path of the interest rate in the future depends on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Northrop Grumman

Posted: 28 Nov 2011 08:30 AM PST

We maintain our Neutral recommendation on Northrop Grumman Corporation (NYSE:NOC), which is the third largest defense contractor behind The Boeing Company (NYSE:BA) and Lockheed Martin Corporation (NYSE:LMT) in the U.S. in terms of trailing twelve-month sales. Northrop's fortunes are heavily tied to missile defense-related programs and we caution that these programs are tempting targets in order to reduce the budget deficit.
Northrop Grumman supplies a broad array of products and services to the U.S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Rallies, Trades Above $100

Posted: 28 Nov 2011 08:00 AM PST

11/28/11 With the euro currency gaining strength against the dollar on a rally in risk appetite, front month crude prices have followed suit, even rising above $100 a barrel this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Lower As Euro Deal Hopes Support Risk

Posted: 28 Nov 2011 08:00 AM PST

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Monday, amid optimism that European Union leaders may be able to reach an agreement on a deal to halt the spread of the region's debt crisis.

During U.S. morning trade, the dollar was down against the euro, with EUR/USD rising 0.87% to hit 1.3353.

The euro strengthened broadly earlier amid speculation that EU leaders may be able to reach an agreement on a deal which would make budget discipline … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Retreat From 11-day High On Profit Taking

Posted: 28 Nov 2011 07:50 AM PST

Forexpros – Natural gas futures fell for the first time in six days on Monday, as investors cashed out of the market to lock in gains from a rally that took prices to an 12-day high earlier in the day.

On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.564 per million British thermal units during U.S. morning trade, tumbling 2.74%.

Natural gas prices rose by as much as 1.85% earlier to hit USD3.719 per million British thermal units, the highest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Trims Gains After BOE King’s Comments

Posted: 28 Nov 2011 07:42 AM PST

Forexpros – The pound trimmed gains against the U.S. dollar on Monday, pulling back from a three-day high following comments from Bank of England Governor Mervyn King.

GBP/USD pulled back from 1.5594, the pair's highest since November 23 to hit 1.5546 during U.S. morning trade, still up 0.68%.

Cable was likely to find support at 1.5339, the low of October 4 and resistance at 1.5691, the high of November 22.

The pound came under pressure after Governor King warned that the scale of shocks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Remains Higher After U.S. Data, German CPI

Posted: 28 Nov 2011 07:33 AM PST

Forexpros – The euro held gains against the U.S. dollar on Monday, after official data showed that U.S. home sales rose less-than-expected in October, while a separate report showed that German inflation remained unchanged this month.

EUR/USD hit 1.3398 during U.S. morning trade, the pair's highest since Thursday; the pair subsequently consolidated at 1.3357, gaining 0.91%.

The pair was likely to find support at 1.3211, Friday's low and a seven-week low and short-term resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Add To Strong Gains In Risk-on Trade

Posted: 28 Nov 2011 07:30 AM PST

Forexpros – Gold futures added to strong gains on Monday, firming above the key USD1,700-an-ounce-level as fresh hopes European leaders will reach a deal to contain the region's debt crisis weakened the dollar and boosted the appeal of commodities.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,721.35 a troy ounce during U.S. morning trade, rallying 1.95%.

It earlier rose by as much as 2.1% to trade at USD1,724.05 a troy ounce, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Newt Challenges Barack To Lincoln Douglas Debates

Posted: 28 Nov 2011 07:26 AM PST

Where was President Obama to lead our nation in compelling the Congressional commission charged with addressing our fiscal deficit to perform?
Nowhere to be found, that's where. Why?
Is there any doubt that the White House is fully engaged in campaign mode 2012? I have no doubt. If in fact President Obama is focused more on getting re-elected than fulfilling his obligation to lead our nation, then I gather it is more than fair to highlight the following:

Those with Ivy League pedigrees … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. New Home Sales Rise Less-than-expected In October

Posted: 28 Nov 2011 07:07 AM PST

Forexpros – U.S. new home sales rose less-than-expected in October, official data showed on Monday.

In a report, the U.S. Census Bureau said new home sales rose to a seasonally adjusted 307,000 units in October, below expectations for an increase to 312,000.

New home sales for September were revised down to 303,000 units from a previously reported 313,000 units.

The median sales price of new houses sold in October was USD212,300, while the average sales price was USD242,300.

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

Equities Jump, EU Markets Surge

Posted: 28 Nov 2011 01:15 AM PST

11/28/11 NYFP’s Opening Bell Report: Global equities rallied to start the week following an array of eurozone rumors and a strong showing in US Black Friday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

With Rising Wages, Will China Remain A Manufacturing Hub?

Posted: 27 Nov 2011 10:00 PM PST

Earlier this month, I spent a few days at the CLSA AsiaUSA Forum in San Francisco, which offered a geopolitical and economic intellectual feast for global investors. The research firm gathered a well-rounded cast of engaging speakers that included Republican Presidential candidate Herman Cain, Hall of Fame quarterback Steve Young, Pollster extraordinaire Frank Luntz and renowned physicist Dr. Michio Kaku. Here's a photo I snapped during a Q&A session with former U.S. Vice President Dick … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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