Friday, November 11, 2011

DailyMarkets.com - DOW Raises $2B In Debt

DailyMarkets.com - DOW Raises $2B In Debt

DOW Raises $2B In Debt

Posted: 11 Nov 2011 10:05 AM PST

The Dow Chemical Company (NYSE:DOW) sold $2 billion in new 10 and 30 year bonds. The 10 year bond for $1.25 billion is due in 2021 and is priced at 2.15 percentage points over comparable government debt to yield 4.174%. However, the 30 year bond for $750 million is due in 2041 and is priced at 2.20 percentage points over Treasurys to yield 5.259%.
The net proceeds will be used for general corporate purposes, including fund pension contributions, finance capital expenditures and working capital, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fidelity Boosts Clientele

Posted: 11 Nov 2011 09:50 AM PST

Fidelity National Information Services Inc (FIS) recently announced a partnership with Bridgeport, Connecticut-based People’s United Bank, a subsidiary of People’s United Financial, Inc.
People’s United Bank boasts a wide network of 375 branches and provides commercial and retail banking, and wealth management services in Connecticut, Massachusetts, Vermont, New York, New Hampshire and Maine. The bank expects to integrate Fidelity's mobile financial services platform into its newly launched … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Franklin’s October AUM Advances

Posted: 11 Nov 2011 09:35 AM PST

On Tuesday, Franklin Resources Inc. (NYSE:BEN) declared preliminary assets under management (AUM) of $694.1 billion by its subsidiaries for the end of October 2011. The results were up 5.2% from $659.9 billion as of September 30, 2011 and up 4.5% from $664.3 billion as of October 31, 2010.
Month-end total equity assets came in at $281.9 billion, up 10.9% sequentially, but slightly down on a year-over-year basis. Of the total equity assets, roughly 73% were from international sources, while … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lincoln Hikes Dividend By 60%

Posted: 11 Nov 2011 09:15 AM PST

Despite basking in a modest third quarter, yesterday, the board of Lincoln National Corp. (NYSE:LNC) has announced a significant 60% increase in its quarterly dividend to 8 cents per share from the previous pay out of 5 cents. The hiked dividend will be paid on February 1, 2012 to shareholders of record as on January 10, 2012.
This marks the second dividend hike since 2007. In November last year, Lincoln had raised its quarterly dividend from 1 cent to 5 cents per share. The company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Revenues Rise At Alkermes

Posted: 11 Nov 2011 09:05 AM PST

Alkermes plc (NASDAQ:ALKS) suffered a loss of 7 cents per share (excluding merger related costs and amortization of acquired intangible assets) in the second quarter of fiscal 2012 (ended September 30, 2011). The Zacks Consensus loss estimate was 10 cents per share.
The results of the reported quarter included 14 days results of Elan Corporation's (NYSE:ELN) drug delivery unit, Elan Drug Technologies (EDT). We remind investors that the purchase of the EDT unit was completed by Alkermes on September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Toyota Recalls 549,000 Cars

Posted: 11 Nov 2011 09:05 AM PST

Toyota Motor Corp. (NYSE:TM) announced that it would recall 549,000 cars worldwide, mostly in the U.S. due to a problem with the vehicles' engines that could make it harder to steer.
The automaker would recall 447,000 vehicles in North America, This includes 283,200 units of Toyota brand cars such as 2004 and 2005 Camry, Highlander, Sienna and Solara, 2004 Avalon and the 2006 Highlander HV as well as 137,000 units of Lexus vehicles, including the 2004 and 2005 ES330 and RX330 and 2006 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DR Horton Reports Mixed Results

Posted: 11 Nov 2011 09:00 AM PST

DR Horton Inc. (NYSE:DHI) reported net income of $35.7 million or 11 cents per share in the fourth quarter of fiscal 2011 versus a net loss of $8.9 million or 3 cents per share in the year-ago quarter.
Reported earnings per share included a pre-tax charge of $12.8 million associated with cost of sales for inventory impairments and land option cost write-offs and $0.1 million loss on early retirement of debt compared with inventory impairments and land option cost write-off charges of $30.8 million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EU Optimism Lifts Oil Prices

Posted: 11 Nov 2011 09:00 AM PST

11/11/11 Front month crude prices were again rising after Italy approved a budget law which helped boost optimism for crude … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Strengthens In Early U.S. Trade

Posted: 11 Nov 2011 08:58 AM PST

Forexpros –
Forexpros – Gold futures moved sharply higher in U.S. trade Friday, on weakness in the U.S. dollar and after the Italian Senate voted to approve a package of austerity measures aimed at securing debt assistance.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,777.25 a troy ounce during early U.S. trade, gaining 0.99%, or USD17.35, after hitting a low of USDS1,745.95.

The Italian Senate approved, by a vote of 156 to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&P Rates Hershey’s Notes

Posted: 11 Nov 2011 08:50 AM PST

Recently, the rating agency Standard & Poor’s (S&P) has provided an investment grade rating to the notes offering announced by The Hershey Company (NYSE:HSY), due 2016.
According to the regulatory filing, Hershey had made a public offering to sell 1.5% notes due 2016. Further, the notes were priced at $250 million. In addition, the yield to maturity is 1.549%.
The net proceeds after selling the notes are expected to be utilized for general corporate purposes.
The rating agency Standard … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NVIDIA Tops Estimates

Posted: 11 Nov 2011 08:40 AM PST

NVIDIA Corp. (NASDAQ:NVDA) reported third quarter 2012 adjusted earnings per share of 31 cents, significantly beating the Zacks Consensus Estimate of 26 cents. 
Revenues
The company reported third quarter 2012 revenue of $1.07 billion, up 4.9% from the previous quarter and 26.4% from the year-ago quarter.
Within business segments, GPU business inched up 1.0% compared with the prior quarter. Desktop GPU revenue surged 23.0% in the quarter. This gain was posted despite a $47.3 million decline in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Soars Again. 1.3792 The Next Target. 1.3757 Support

Posted: 11 Nov 2011 08:36 AM PST

Harman Strengthens Chinese Presence

Posted: 11 Nov 2011 08:35 AM PST

Harman International Industries Inc. (NYSE:HAR) has opened a new manufacturing facility in the Dandong region in China. The launch of the new facility highlights the company's additional $100 million investment plan to strengthen manufacturing and research capabilities in China. Two facilities will be accommodated in the 460,000-square foot space that is being developed.
The new unit will be used for the development of electronic components and audio systems for Harman's automotive customers … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Caterpillar Eyes ERA Mining

Posted: 11 Nov 2011 08:25 AM PST

Caterpillar Inc. (NYSE:CAT) in tune with its twin strategies of strengthening its presence in the mining industry in China has made an offer to acquire China based underground coal mining equipment manufacturer ERA Mining Machinery Limited.
ERA Mining Machinery primarily operates through its wholly owned subsidiary Zhengzhou Siwei Mechanical & Electrical Equipment Manufacturing Co., Ltd., commonly known as Siwei. Siwei possesses a manufacturing base of 600,000 square meters in Zhengzhou, Henan … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up Toward The End Of European Session

Posted: 11 Nov 2011 08:25 AM PST

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

EUR/USD was trading at 1.3771, up 1.19% at time of writing.

The pair was likely to find support at 1.3484, Thursday's low, and resistance at 1.3859, Wednesday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 64.2 last month from 60.9 in the preceding month.

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

How Smart Are You?

Posted: 11 Nov 2011 08:20 AM PST

Take a short 30-question IQ test here, you have about 8 seconds to answer each … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Occupiers Are Blaming The Wrong People

Posted: 11 Nov 2011 08:09 AM PST

Margaret Wente writing in Canada’s Globe and Mail:

“It's not the greedy Wall Street bankers who destroyed [the Occupiers'] hopes. It's the virtueocracy itself. It's the people who constructed a benefit-heavy entitlement system whose costs can no longer be sustained. It's the politicians and union leaders who made reckless pension promises that are now bankrupting cities and states. It's the socially progressive policy-makers in the U.S. who declared that everyone, even those with no … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wellpoint Unit Faces Refund Demand

Posted: 11 Nov 2011 08:05 AM PST

Yesterday, the governor of New York ordered Empire Blue Cross Blue Shield, a unit of  WellPoint Inc. (NYSE:WLP), to refund $61.1 million for alleged overcharging of premiums in 2010. Apart from WellPoint's unit, Aetna Inc. (NYSE:AET) and nine other health insurance companies were also asked for refunds.
The aggregate refunds demanded amounted to $114.5 million, of which WellPoint’s share happens to be the highest. The second largest amount of $21.4 million was demanded from Excellus, which is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Rallies On EU Hopes, Consumer Sentiment

Posted: 11 Nov 2011 08:05 AM PST

11/11/11 US stocks soared at the open, as the Italian Senate passed the austerity bill. The major equity averages extended gains after the University of Michigan’s consumer sentiment index soared to its best level in five … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Higher In Early U.S. Trade

Posted: 11 Nov 2011 08:04 AM PST

Forexpros –
Forexpros – The euro moved higher against the U.S. dollar in early trade Friday, as Italy's Senate passed a package of austerity measures, paving the way for a new government and raising hopes for progress on tackling the country's debt threat.

EUR/USD hit 1.3704 in early U.S. trade, the pair's highest since Wednesday; the pair subsequently consolidated at 1.3686 rising 0.56%.

The pair was likely to find support at 1.3522, Wednesday's low, and resistance at 1.3859, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The European Session

Posted: 11 Nov 2011 08:00 AM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

USD/JPY was trading at 77.07, down 0.75% at time of writing.

The pair was likely to find support at 77.05, today's low, and resistance at 78.18, Monday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 64.2 last month from 60.9 in the preceding month.

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

Forex – EUR/USD Up On Economic Data

Posted: 11 Nov 2011 07:10 AM PST

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

EUR/USD was trading at 1.3684, up 0.56% at time of writing.

The pair was likely to find support at 1.3484, Thursday's low, and resistance at 1.3859, Wednesday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 64.2 last month from 60.9 in the preceding month.

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

Siri’s Siren Song: The IPhone Blues

Posted: 11 Nov 2011 07:07 AM PST

I'm having woman troubles at home, for the second time in as many years. The first was the woman inside our portable GPS device whose tone and attitude intrigued me, but rubbed my wife the wrong way. Any deviation from her precise directions would elicit an exasperating and accusatory "recalculating." She probably had to recalculate more with us than with her other clients. She now resides on a closet shelf.
The latest female intruder arrived inside my wife, Suzanne's, new iPhone 4S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. UoM Consumer Sentiment Rises More-than-expected

Posted: 11 Nov 2011 07:05 AM PST

Forexpros – U.S. UoM consumer sentiment rose more-than-expected last month, preliminary data showed on Friday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 64.2, from 60.9 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 61.0 last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Rallies As New Greek Government Is Sworn In

Posted: 11 Nov 2011 06:28 AM PST

Fundamental Headlines
• German 2012 Budget May Help Merkel Push Cuts – Bloomberg
• Papademos Seeks to Avoid Greek Collapse – Bloomberg
• Italy Pushes through Austerity, U.S. Applies Pressure – Reuters
• S&P's French Rating Mistake Very Serious, to be Investigated – Reuters
• Italy Front-Runner Seen as Political Outsider – WSJ
European Session Summary
As markets headed into the final trading day of the week, volatility was expected to be limited as bond markets in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets Rise As Italy Passes Budget Law

Posted: 11 Nov 2011 01:15 AM PST

11/11/11 NYFP’s Morning Market Report: Global equities were off to a strong start this Friday after Italy passed its budget law while Greece makes strides in assigning its new interim … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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