Tuesday, November 29, 2011

DailyMarkets.com - CUZ Completes Promenade Acquisition

DailyMarkets.com - CUZ Completes Promenade Acquisition

CUZ Completes Promenade Acquisition

Posted: 29 Nov 2011 10:20 AM PST

As part of the long-term strategy to upgrade its overall portfolio with newer high-quality assets, Cousins Properties Inc. (NYSE:CUZ), a Georgia-based real estate investment trust (REIT), has recently completed the acquisition of Promenade Two – a 774,000 square-foot Class-A office building in the Midtown submarket of Atlanta, Georgia, for $134.7 million in cash.
The purchase price was well below the replacement cost of the property and provided a significant growth opportunity for the company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CNOOC Closes OPTI Deal

Posted: 29 Nov 2011 10:05 AM PST

CNOOC Ltd. (NYSE:CEO) has closed its previously announced purchase of Canadian oil sands operator OPTI Canada Inc. The $2.1 billion transaction was first declared in July.
Estimated holdings of OPTI include about 195 million barrels of proved reserves, 534 million barrels of probable reserves, 1.1 billion barrels of contingent resources and 335 million barrels of prospective resources on its oil sands leases.
The transaction gave CNOOC a 35% working interest in the Long Lake oil-sands project in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cummins Downgraded To Neutral

Posted: 29 Nov 2011 09:50 AM PST

We have downgraded our recommendation on Cummins Inc. (NYSE:CMI) to Neutral from Outperform. Headquartered in Columbus, Indiana, Cummins is a leading worldwide designer, manufacturer and distributor of diesel and natural gas engines, electric power generation systems, and engine-related components, fuel systems, controls and air handling systems.
Cummins primarily sells its products to original equipment manufacturers (OEMs), distributors and other customers worldwide. The company boosts an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Black Friday Give Equities A Jolt

Posted: 29 Nov 2011 09:39 AM PST

Tuesday, November 29, 2011
Equity traders focused on the holiday shopping season and ignored the ugly macro outlook and European debt situation. The question now becomes whether this will be the trend going into year end or if the robust consumer spending will simply provide the market a short-term sugar high. A full week of economic data, capped off by non-farm payrolls on Friday, could also cause traders to refocus their attention on the macro outlook. Technically, the Dec E-mini is heading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Austar Sale-off Delayed Further

Posted: 29 Nov 2011 09:30 AM PST

Liberty Global Inc.'s (NASDAQ:LBTYA) proposed disinvestment of Austar United Communications Ltd. to Foxtel is further delayed. The Australian regulatory authority, Australian Competition and Consumer Commission (ACCC), was all set to deliver its verdict on the proposed merger on November 30, 2011. Surprisingly, the acquirer Foxtel asked for some more time to ACCC so that the company can strengthen its arguments. Earlier, in October 2011, the Australian Foreign Investment Review Board (FIRB) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cartoon Of The Day

Posted: 29 Nov 2011 09:22 AM PST

Tiffany Shines, Brightens Outlook

Posted: 29 Nov 2011 09:16 AM PST

Tiffany & Company (NYSE:TIF) posted better-than-expected third-quarter 2011 results buoyed by improved demand for luxury items worldwide and consequently raised its full year outlook. The quarterly earnings of 70 cents a share surpassed the Zacks Consensus Estimate of 60 cents, and surged 52% from 46 cents earned in the prior-year quarter.
The Zacks Consensus Estimate rose by a penny over the last 30 days with only 3 out of 17 analysts covering the stock revising their estimates upward, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Discover Downgraded To Neutral

Posted: 29 Nov 2011 09:16 AM PST

We have downgraded our recommendation on Discover Financial Services (NYSE:DFS) to Neutral based on a weak momentum in the earnings outlook. The company reported third-quarter 2011 earnings per share of $1.18, significantly ahead of both the Zacks Consensus Estimate of 91 cents and 47 cents recorded in the year-ago quarter.
Discover's credit card sales volume has been witnessing modest improvement owing to improved consumer spending and credit quality trends. In the first nine months of 2011, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quick Checking SP500 Market Internals Nov 29

Posted: 29 Nov 2011 09:02 AM PST

What do we see when we look "under the hood" at the market by viewing current Market Internals?
Let's take a look with the bigger picture and drill down from there:

Click for larger image.
The 30-min intraday chart above gives us the perspective from the recent "Symmetrical Triangle Breakdown" from last week.
New TICK (middle graph) and Breadth (lower graph) lows were supportive of further new price lows during the sell-off.
According to the "Momentum" principle, new internal (or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UCB’s Lectus Buy To Aid CNS Study

Posted: 29 Nov 2011 09:01 AM PST

UCB (UCBJF) recently announced that it has entered into a license and acquisition agreement with Lectus Therapeutics for the acquisition of the latter's pharmaceutical assets. With this acquisition, UCB has taken over Lectus's drug discovery and development programs, which are aimed at treating certain central nervous system (CNS) disorders.
The drug discovery and development programs primarily focus on the use of Lectus's proprietary LEPTICS technology used to identify compounds in a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Guess? Inc.

Posted: 29 Nov 2011 09:01 AM PST

Guess? Inc. (NYSE:GES), one of the world's leading designer and distributor of lifestyle apparels, is scheduled to report its third quarter 2012 financial results before the opening bells on November 30, 2011.
The current Zacks Consensus Estimate for the quarter's earnings is pegged at 74 cents a share. The Zacks Consensus Estimate projects revenues for the quarter to come in at $658 million.
Second Quarter 2012 Recap
Guess? Inc., which faces stiff competition from Abercrombie & Fitch … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New COO For Krispy Kreme

Posted: 29 Nov 2011 09:01 AM PST

Winston-Salem, North Carolina-based Krispy Kreme Doughnuts Inc (KKD) recently announced the appointment of Kenneth A. May as its new President and Chief Operating Officer (COO), effective immediately. Mr. May will report to James H. Morgan, the Chairman and chief executive officer (CEO) of Krispy Kreme. Mr. May replaces Morgan who held the position of the company's president since 2008.
Mr. May, aged 51 years, boasts an experience of more than 25 years in the field of retail, brand … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

XZERES Is Aggressively Expanding Into Europe

Posted: 29 Nov 2011 09:01 AM PST

XZERES is aggressively expanding into Europe
Steven Ralston, CFA

Over the last three months, XZERES (XPWR) has aggressively expanded into Europe, announcing significant dealer agreements with VG Energy, Ltd. (the largest distributed wind energy dealer in the U.K) and Weole Energy (the largest distributed wind energy dealer serving France).

In late September, XZERES signed for an exclusive dealer arrangement with VG Energy, Ltd., which requires a minimum of $5.0 million in turbines to be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Term Loan For Federal Realty

Posted: 29 Nov 2011 09:01 AM PST

Federal Realty Investment Trust (FRT) recently announced the closing of a new unsecured term loan worth $275 million. The loan bears interest at an annual rate of LIBOR plus 145 basis points and is expected to mature in November 2018. Federal Realty also has an option of increasing the term loan to $350 million.
The company expects to utilize the proceeds from the loan to pay the outstanding balances under the Trust’s $400 million revolving credit facility and to fund acquisitions, development … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Merge Unveils Cloud-based Platform

Posted: 29 Nov 2011 09:01 AM PST

Recently, Merge Healthcare (NASDAQ:MRGE) showcased its new cloud-based platform 'Merge Honeycomb' along with its first application in the cloud, namely 'free image sharing' at the Radiological Society of North America (RSNA). This application enables users to upload, download, view and share medical images everywhere without the help of any additional software. Through this new solution the company intends to improve image interoperability and achieve the 'Meaningful Use' stamp from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Omnicell’s G4 Reaches China

Posted: 29 Nov 2011 09:01 AM PST

Recently, Omnicell (NASDAQ:OMCL) announced the launch of Mandarin-language versions of its G4 platform for clinical use in China. Following the launch of G4 medication automation platform in English-speaking markets earlier this year, the language conversion of medication cabinets will enable Chinese hospitals to utilize all the advanced operational improvements of G4. The latest move on the company's part is consistent with its strategy of further expanding in the international market.  
In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WSPR Szczecin Taps ZOLL AutoPulse

Posted: 29 Nov 2011 09:01 AM PST

Resuscitation devices maker ZOLL Medical (NASDAQ:ZOLL) said that its new AutoPulse Plus cardiac support pumps has been bought by WSPR Szczecin, the biggest emergency service operator in Poland. The Polish entity has purchased 49 such devices to equip its fleet of ambulances.
The innovative AutoPulse Plus pumps enables rescuers to defibrillate without stopping chest compressions for defibrillation. WSPR Szczecin selected the device based on positive user experience following a 12-month … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Becton Hikes Dividend

Posted: 29 Nov 2011 09:01 AM PST

Becton, Dickinson and Company (NYSE:BDX) recently declared a quarterly dividend of 45 cents for each common share, representing a hike of 4 cents, or approximately 10%, from the preceding quarter. The company will make the dividend payment on December 30, 2011, to its shareholders of record, as of December 12, 2011. The new quarterly dividend represents an annualized outflow of $1.80 per share.
Becton noted its robust record of creating shareholder value partly by returning funds to its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

United Parcel Remains Neutral

Posted: 29 Nov 2011 09:01 AM PST

We are maintaining our long-term Neutral recommendation on United Parcel Services (NYSE:UPS). The stock retains a Zacks #3 (Hold) Rank for the short term (1-3 months).
We are cautious on the company's top-line growth, citing weak demand, high unemployment, uncertainty surrounding government debt issues, and softness in the U.S. economy. Nevertheless, management expects that solid yield and improved pricing will fuel top-line growth. United Parcel expects to deliver healthy revenue and margin … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BNY Mellon Expands Overseas

Posted: 29 Nov 2011 09:01 AM PST

The Bank of New York Mellon Corporation (NYSE:BK) announced a definitive agreement to acquire Penson Worldwide Inc.'s (NASDAQ:PNSN) Australian subsidiary, Penson Financial Services Australia Pty Ltd (PFSA). As a part of the agreement, BNY Mellon will pay AUD$33 million ($33 million).
PFSA is a clearing firm that offers execution and clearing services. It also processes local exchange-traded equities and exchange-traded options. In addition to holding an Australian Financial Services License, it is a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Snack-On: Hormel In The Menu

Posted: 29 Nov 2011 09:01 AM PST

According to New York Times- Americans eat 31% more packaged food than fresh food and they consume more packaged food per person than their counterparts in nearly all other countries. A sizable part of the American diet is ready-to-eat meals, like frozen pizzas and microwave dinners and sweet or salty snack foods.
This probably doesn’t come as a surprise, given the country's obesity rates. However, the surprise lies in analysts assigning a camouflaged tone of under-weightage to these … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hungary Central Bank Lifts Rate 50bps To 6.50%

Posted: 29 Nov 2011 08:36 AM PST

The Magyar Nemzeti Bank increased its central bank base rate by 50 basis points to 6.50% from 6.00%.  The Bank said: “Monetary policy can best support the recovery and contribute to an environment conducive to investment and job creation by maintaining predictability and preserving the stability of prices and the financial system. The depreciation of the forint in recent months has caused a deterioration in the inflation outlook and increased the need for balance sheet … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Stretches Gains, Positive For 2011

Posted: 29 Nov 2011 08:09 AM PST

11/29/11 US stocks turned higher, lifted by a better-than-expected consumer confidence report. The Dow Industrials climbed back into positive for the year. Airline stocks gained as AMR filed for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Still Strong, Trades Above $98

Posted: 29 Nov 2011 03:00 AM PST

11/29/11 Crude prices remaind in positive territory this morning following growing optimism concerning the health of the eurozone region while the euro continued to remain higher against the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Sharply Higher On Cooler Weather Forecasts

Posted: 29 Nov 2011 07:49 AM PST

Forexpros – Natural gas futures rose sharply on Tuesday, recouping some of the previous day's steep decline as markets cheered signs that winter's peak heating season was approaching.

On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.615 per million British thermal units during U.S. morning trade, jumping 2.57%.

It earlier rose by as much as 2.8% to trade at a daily high of USD3.620 per million British thermal units.

The recent bout of mild … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canada: “We Believe In Free Trade” And Will End Dozens Of Tariffs On Imports To Help Manufacturing

Posted: 29 Nov 2011 07:34 AM PST

TORONTO (Reuters) – “Canadian Finance Minister Jim Flaherty said on Sunday the government would eliminate tariffs on dozens more products used by Canadian manufacturers, aiming to lower their costs and encourage more hiring. The initiative would scrap custom duties on 70 items used by businesses in sectors such as food processing, furniture and transportation equipment.

Flaherty, who estimated the tariff cuts would save Canadian businesses C$32 million ($30.5 million) a year, said the cuts … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Tale Of The $100 Bill

Posted: 29 Nov 2011 07:32 AM PST

By now we've probably all been forwarded a version of the tale of the $100 bill that single handedly wiped out lots of debt. In case some readers haven't seen it yet, it goes something like this:
A bald-headed bearded stranger stopped in town and went into an small old hotel to check in. He asked to go check out the rooms first so, in good faith, he left a $100 bill—a deposit of sorts—with the hotel owner. The hotel owner immediately ran next door to pay his grocery bill. The grocer ran … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Remains Lower As Europe FinMin Meeting In Focus

Posted: 29 Nov 2011 07:30 AM PST

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Tuesday, ahead of the outcome of a meeting of euro zone finance ministers and after stronger-than-expected U.S. consumer confidence data.

During U.S. morning trade, the dollar was down against the euro, with EUR/USD easing up 0.13% to hit 1.3337.

The euro came under pressure after the European Central Bank failed to attract enough deposits from banks to neutralize its purchases of bonds from debt-ridden … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Holds Gains Despite U.K. Growth Outlook Cut

Posted: 29 Nov 2011 07:27 AM PST

Forexpros – The pound held gains against the U.S. dollar on Tuesday, shrugging off a downward revision by the British government for economic growth as markets eyed a meeting of euro zone finance ministers later in the day.

GBP/USD hit 1.5656 during U.S. morning trade, the pair's highest since November 22; the pair subsequently consolidated at 1.5626, rising 0.73%.

Cable was likely to find support at 1.5468, the low of November 29 and resistance at 1.5797, the high of November 21.

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

Gold Futures Fluctuate On U.S. Dollar, EU Debt Woes

Posted: 29 Nov 2011 07:23 AM PST

Forexpros – Gold futures swung between modest gains and losses on Tuesday, remaining above the psychologically important USD1,700-an-ounce-level as market sentiment continued to be dominated by developments surrounding the euro zone's debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,718.75 a troy ounce during U.S. morning trade, edging 0.25% higher.

The February contract traded between a range of USD1,707.35 a troy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Erases Losses In Choppy Trade

Posted: 29 Nov 2011 07:14 AM PST

Forexpros – The euro erased losses against the U.S. dollar on Tuesday, after falling earlier when the European Central Bank failed to attract enough deposits from banks to neutralize its purchases of bonds from debt-ridden euro zone countries.

EUR/USD pulled away from 1.3286, the daily low, to hit 1.3330 during U.S. morning trade, easing up 0.08%.

The pair was likely to find support at 1.3272, Monday's low and resistance at 1.3530, the high of November 23.

The ECB attracted EUR194 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. CB Consumer Confidence Soars To 4-month High

Posted: 29 Nov 2011 07:06 AM PST

Forexpros – U.S. consumer confidence soared in November, rising to the highest level since July, industry data showed on Tuesday.

In a report, the Conference Board, a market research group said its index of consumer confidence jumped by 15.1 points to 56.0 in November from a reading of 40.9 in October, whose figure was revised up from 39.8.

Analysts had expected the index to rise by 2.1 points to 43.0 in November.

The Present Situation Index increased to 38.3 from 27.1. The Expectations … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Pares Losses As Euro Woes In Focus

Posted: 29 Nov 2011 06:56 AM PST

Forexpros – The U.S. dollar pared losses against its Canadian counterpart on Tuesday, but market sentiment remained on the back foot amid concerns over the ongoing debt crisis in the euro zone.

USD/CAD pulled back from 1.0258, the pair's lowest since November 18, to hit 1.0300 during early U.S. trade, still down 0.38% on the day.

The pair was likely to find support at 1.0198, the low of November 18 and resistance at 1.0362, the days high.

Risk appetite remained supported after Italy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Rise In Choppy Trade; Dow Jones Up 0.37%

Posted: 29 Nov 2011 06:56 AM PST

Forexpros – U.S. stocks were moderately higher on Tuesday, as markets remained wary ahead of a meeting of euro zone finance ministers later in the day and after disappointing U.S. housing sector data.

During early U.S. trade, the Dow Jones Industrial Average rose 0.37%, the S&P 500 index advanced 0.45%, while the Nasdaq Composite index climbed 0.29%.

Euro zone finance ministers were to meet later in the day and were expected to approve plans to enlarge the scope of the region's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Extend Gains On Mounting Iran Tensions

Posted: 29 Nov 2011 06:47 AM PST

Forexpros – Crude oil futures extended gains on Tuesday, rallying to a fresh session high amid reports the British embassy in Tehran was attacked and as investors awaited the outcome of a meeting of euro zone finance ministers.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.00 a barrel during U.S. morning trade, gaining 0.8%.

It earlier rose by as much as 0.95% to trade at a daily high of USD99.30 a barrel.

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

Euro Decouples From Recent Correlations, Lags Majors As U.S. Dollar Slides

Posted: 29 Nov 2011 06:40 AM PST

Fundamental Headlines
• Home Prices in 20 U.S. Cities Decline More Than Forecast – Bloomberg
• King Says U.K. Must Have Contingency Plan as Euro Risks Rise – Bloomberg
• In Euro-zone Crisis, Companies Plan for the Unthinkable – Reuters
• S&P May Cut France Rating Outlook – Reuters
• European Nations Pressure Own Banks for Loans – WSJ
European Session Summary
After Monday's quizzical rally, the trend appeared to be broken in the overnight Tuesday. Midway through Asian, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Lower On ECB Operation

Posted: 29 Nov 2011 06:18 AM PST

Forexpros – The euro edged lower against the yen on Tuesday, after the European Central Bank failed to attract enough deposits from banks to neutralize its purchases of bonds from debt-ridden euro zone countries.

EUR/JPY hit 77.62 during European afternoon trade, the daily low; the pair subsequently consolidated at 103.55, shedding 0.28%.

The pair was likely to find support at 102.48, the low of November 25 and short term resistance at 104.51, the high of November 28.

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

Global Equities Receive A Brussels Boost

Posted: 29 Nov 2011 01:15 AM PST

11/29/11 Led by European finance ministers meeting in Brussels today to discuss details of possibly boosting the EFSF, global equities continued to show signs of strength this … [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: 29 Nov 2011 06:12 AM PST

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

In a report, Standard & Poor with Case-Shiller said its house price index fell at an annualized rate of 3.6% in September, disappointing expectations for a 3.0% decline.

U.S. home prices fell by an unrevised 3.8% in August.

Month-on-month, U.S. home prices fell by 0.6% in September, compared to expectations for a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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