DailyMarkets.com - Crude, Distillate Stocks Tumble
DailyMarkets.com - Crude, Distillate Stocks Tumble |
- Crude, Distillate Stocks Tumble
- Medivation Back To Neutral
- Superior Industries Remains Neutral
- FDA Nod For Medtronic’s IPro2
- Xcel Energy Files For Rate Hike
- PartnerRe Inflates Stock Buy Back
- Quest Diagnostics Retained At Neutral
- H-P/Maersk Line Outsourcing Deal
- Atmel Launches New Platform
- CUZ Maintains Neutral Recommendation
- Broadcom Offers Notes
- Petrobras Finds Oil In Santos Basin
- Croatian National Bank Cuts Lombard Rate 275bps To 6.25%
- Forex – NZD/USD Down During The U.S. Session
- Forex Trading: GBPUSD Remains In Channel Downtrend
- JetBlue Wins Flight Auction
- Euro At 7-week Low Vs. Dollar
- Rosy Spring For Tobacco Giants?
- Symantec’s SMB Security Report
- BP, Indian Oil In Acetic Acid JV
- European Markets Close Higher; Dax Up 1.19%
| Crude, Distillate Stocks Tumble Posted: 25 Nov 2011 12:10 PM PST The U.S. Energy Department’s weekly inventory release showed an unexpected decrease in crude inventories, currently at their lowest level in almost two years, while gasoline supplies rose for the second straight week. The agency's report further revealed that distillate stockpiles declined for the eighth-straight week to a three-year low despite production rising to a record high. Meanwhile, refiners improved processing rates by 0.7%.
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| Posted: 25 Nov 2011 12:10 PM PST We recently downgraded biopharma company Medivation, Inc. (NASDAQ:MDVN) to Neutral. The stock carries a Zacks #3 Rank (short-term "Hold" rating). Medivation's shares received a major boost in early November with the company and its partner, Astellas, reporting impressive data on MDV3100 from a pre-specified interim analysis of a phase III study, AFFIRM. The Independent Data Monitoring Committee (IDMC) recommended that MDV3100's risk-to-benefit ratio was favorable enough to stop the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Superior Industries Remains Neutral Posted: 25 Nov 2011 12:10 PM PST We maintain our Neutral recommendation on Superior Industries International Inc. (NYSE:SUP). Headquartered in Van Nuys, California, Superior Industries is one of the world's largest designers and manufacturers of cast aluminum road wheels for the automotive industry.
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| Posted: 25 Nov 2011 11:50 AM PST Leading medical devices player, Medtronic (NYSE:MDT) has received approval from the US Food and Drug Administration (FDA) for iPro2, a next generation Professional continuous glucose monitoring (CGM) system. This product would better equip healthcare providers to assess the status of glucose control for the patients they treat. They will also be able to judge how diet, medication, and daily activities affect their patients' glucose levels.
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| Xcel Energy Files For Rate Hike Posted: 25 Nov 2011 11:35 AM PST With an intention to recover costs, Xcel Energy (NYSE:XEL) filed an application to the Colorado Public Utilities Commission ("CPUC") to increase electricity rates. The rates if approved in toto will result in a hike amounting to $141.9 million and will cover all expenses incurred as well as incremental taxes.
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| PartnerRe Inflates Stock Buy Back Posted: 25 Nov 2011 11:30 AM PST Earlier this week, the board of property-casualty and life reinsurer PartnerRe Ltd. (NYSE:PRE) approved and authorized the extension of its stock repurchase program up to 7 million shares, thereby keeping up the trend of returning wealth to its shareholders from time to time, depending on market conditions.
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| Quest Diagnostics Retained At Neutral Posted: 25 Nov 2011 11:20 AM PST We reiterate our Neutral recommendation on Quest Diagnostics (NYSE:DGX), one of the largest providers of commercial laboratory services in North America,with a target price of $58.00. The company provides diagnostic laboratory services through its nationwide network of laboratories and patient service centers.
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| H-P/Maersk Line Outsourcing Deal Posted: 25 Nov 2011 11:20 AM PST Hewlett-Packard Co. (NYSE:HPQ) has reportedly inked a five-year information technology (IT) infrastructure outsourcing service agreement with a renowned shipping company Maersk Line. The contract would bring in more than $150.0 million for H-P.
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| Posted: 25 Nov 2011 11:04 AM PST Atmel Corporation (NASDAQ:ATML) recently announced a complete Digital Audio Platform for consumer, automotive and industrial applications.
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| CUZ Maintains Neutral Recommendation Posted: 25 Nov 2011 11:04 AM PST We reiterate our “Neutral” rating on Cousins Properties Inc. (NYSE:CUZ), a Georgia-based real estate investment trust (REIT) engaged in the acquisition, financing, development, management, and leasing of office, retail and industrial properties throughout the U.S.
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| Posted: 25 Nov 2011 10:50 AM PST Leading chipmaker Broadcom Corporation (NASDAQ:BRCM) recently announced that the company will offer $500 million of senior notes.
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| Petrobras Finds Oil In Santos Basin Posted: 25 Nov 2011 10:50 AM PST Petroleo Brasileiro S.A. or Petrobras (NYSE:PBR) confirmed the discovery of superior quality oil in the south Santos Basin well 4-SPS-91 (4-BRSA-1002-SPS). As per the oil sampling tests, the find was in an approximately 2,160 meters deep sandstone reservoir in the post-salt area known as Tiro and Sidon.
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| Croatian National Bank Cuts Lombard Rate 275bps To 6.25% Posted: 25 Nov 2011 10:47 AM PST The Croatian National Bank decreased its Lombard lending rate by 275 basis points to 6.25% from 9.00% previously. Meanwhile the bank held its other interest rates unchanged. The Bank said: ”In addition, the central bank is allowing commercial banks to use their reserve funds under certain conditions,”… “The central bank has to approve the usage of reserves and will charge an interest rate of the Lombard rate plus 1 percent for periods up to 3 months, and Lombard … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Forex – NZD/USD Down During The U.S. Session Posted: 25 Nov 2011 10:45 AM PST Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Friday. NZD/USD was trading at 0.7382, down 0.45% at time of writing. The pair was likely to find support at 0.7371, today's low, and resistance at 0.7572, Monday's high. Meanwhile, the New Zealand Dollar was down against the Australian Dollar and up against the Euro, with AUD/NZD gaining 0.03% to hit 1.3131 and EUR/NZD falling 0.48% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Forex Trading: GBPUSD Remains In Channel Downtrend Posted: 25 Nov 2011 10:37 AM PST The GBPUSD remains in a downward trend channel that has defined the lows and highs this week. On the lower channel, I have outlined two parellel trendlines. Each has been used during the week to define risk for traders. The higher trendline has support at the 1.5416 currently. The lower comes in at the 1.5390 level. On the topside, the move higher tested the upper trendline today but was not able to push above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Posted: 25 Nov 2011 10:35 AM PST JetBlue (NASDAQ:JBLU) has made its way through the flight auction at New York's LaGuardia and Washington's Reagan airports, edging out one of the largest discounted airlines –– Southwest (NYSE:LUV). Through this auction, JetBlue received eight pairs of roundtrip slots at each of these airports.
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| Posted: 25 Nov 2011 10:30 AM PST 11/25/11 The euro currency continued to slide this session following more eurozone debt crisis … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Rosy Spring For Tobacco Giants? Posted: 25 Nov 2011 10:25 AM PST The tobacco industry hopes to turn around in the coming spring after poor crop last year owing to a drought-plagued season. The tobacco giants like Philip Morris International Inc. (NYSE:PM) and Reynolds American Inc. (NYSE:RAI) anticipate a higher price for their cigars on the back of a better yield by Burley farming, the key industry in Kentucky, powered by a favorable curing condition.
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| Symantec’s SMB Security Report Posted: 25 Nov 2011 10:20 AM PST Internet and IT security major Symantec Corp. (NASDAQ:SYMC) recently came out with the results of the 2011 SMB Threat Awareness Poll. The results were a bit surprising as it claimed that Small & Medium Businesses (SMBs) are not targets of cyber attacks. As a result, they are reluctant to enhance their IT security measures.
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| BP, Indian Oil In Acetic Acid JV Posted: 25 Nov 2011 10:20 AM PST BP Plc (NYSE:BP) and state-owned Indian Oil Corporation have come together for a 50:50 joint venture (JV) to construct an acetic acid plant in western India.
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| European Markets Close Higher; Dax Up 1.19% Posted: 25 Nov 2011 10:05 AM PST Forexpros – European stocks were up after the closing bell on Friday. At the close of European trade, Germany's DAX rose 1.19%, London's FTSE 100 gained 0.72%, France's CAC 40 climbed 1.23% and the EURO STOXX 50 was up 1.01%. Meanwhile, on Wall Street, equity markets were down after the open. The Dow Jones Industrial Average was down 0.14%; the S&P 500 index shed 0.18%, while the Nasdaq 100 index declined … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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