Monday, November 28, 2011

DailyMarkets.com - DuPont, Base In Titanium Sale Deal

DailyMarkets.com - DuPont, Base In Titanium Sale Deal

DuPont, Base In Titanium Sale Deal

Posted: 28 Nov 2011 08:20 AM PST

E. I. Du Pont de Nemours and Company (NYSE:DD) has signed a purchase agreement with Australia's Base Resources to buy products from Base's titanium mining project in Kenya.
Under the deal DuPont is expected to purchase a minimum average of about 72% of annual rutile output from the Kenyan project for a period of six years once production starts. In addition, Base has the option of selling up to a further 25,000 tonnes per annum of rutile over the six year period.
In the last four years of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kinross Updates DD&A Guidance

Posted: 28 Nov 2011 08:05 AM PST

Gold miner Kinross Gold Corporation (NYSE:KGC) updated its guidance for depreciation, depletion and amortization in 2011 to approximately $600 million versus its previous forecast of $651million.
Kinross remains on track to produce about 2.6 – 2.7 million attributable gold equivalent ounces in 2011.  The average cost of sales per gold equivalent ounce is expected within the previous guidance range of $565 – $610.
Recently, Kinross reported an adjusted net income of $273.4 million or 24 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Axle Stays Neutral

Posted: 28 Nov 2011 07:50 AM PST

We are maintaining our Neutral recommendation on American Axle & Manufacturing Holdings, Inc. (NYSE:AXL). American Axle is a leading supplier of driveline systems, modules and components for the light vehicle market. The company manufactures axles, driveshafts and chassis components for light trucks, sport utility vehicles (SUVs) and passenger cars. The company holds 38% share of the driveshaft market in the U.S. and 11% share across the world.
The company released its third quarter earnings … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

India’s Export Announcement Keeps Sugar Prices On The Defensive

Posted: 28 Nov 2011 07:35 AM PST

Friday, November 25, 2011
With the fundamentals pointing to a potentially burdensome supply of Sugar in the coming months, it may be difficult for the market to stage any significant rallies, particularly while large speculators continue to hold a net-long position. On rallies, some traders may possibly wish to explore selling out-of-the-money calls on Sugar futures options. For example, there is strong resistance in the March futures between 26 and 28 cents per pound. With the March Sugar … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Early Christmas Present For Drivers?

Posted: 28 Nov 2011 07:35 AM PST

Monday, November 28, 2011
With the bearish bias to the RBOB market showing little signs of abating, some traders may wish to explore trading strategies with a bearish bias. One such strategy would be selling bear call spreads in RBOB futures options. For example, with January RBOB futures trading at 2.5059 as of this writing, the January 2.65 calls could be sold and the January 2.75 calls bought for a credit of around 0.0220, or $924 per spread, not including commissions. The premium received … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tanger Partners RioCan To Buy Assets

Posted: 28 Nov 2011 07:30 AM PST

Tanger Factory Outlet Centers, Inc (SKT) and RioCan Real Estate Investment Trust entered into an agreement to jointly acquire Cookstown Outlet Mall for C$62 million or $59.2 million.
Cookstown Outlet Mall is located approximately 50 km north of the Greater Toronto Area (GTA) and spans 161,000 square feet. This deal is a win-win situation for both the companies as RioCan will provide development and property management services while Tanger Outlet will offer leasing and marketing services.
This … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kona To Boost Investors’ Wealth

Posted: 28 Nov 2011 07:25 AM PST

After swinging back to profit in the third quarter of 2011, Kona Grill Inc (KONA) is set to boost investors' wealth by initiating a share buyback program.
The board of directors of Kona, the owner and operator of upscale casual dining restaurants in the United States, has approved a new share repurchase program of up to $5 million. The repurchase will be executed from time to time in the open market as well as in privately-negotiated transactions based on market conditions, stock price and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Goldcorp Signs New Credit Facility

Posted: 28 Nov 2011 07:05 AM PST

Goldcorp Inc. (NYSE:GG) recently announced a new credit facility of $2.0 billion, replacing the company’s existing credit facility of $1.5 billion. The agreement was signed with a consortium of 15 lenders.  This floating rate facility is unsecured and amounts drawn are required to be financed or repaid by November 23, 2016.
The company intends to utilize the proceeds from the new credit facility to pursue further growth opportunities and for other general corporate purposes.
As of September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Jumps To 7-day High On Fresh EU Hopes, Iran Tension

Posted: 28 Nov 2011 06:59 AM PST

Forexpros – Crude oil futures extended gains on Monday, rallying to a seven-day high as prices were boosted by hopes European leaders will reach a deal to contain the region's debt crisis and amid growing fears over a disruption to Iranian supplies.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.34 a barrel during U.S. morning trade, rallying 2.66%.

It earlier rose by as much as 3.5% to trade at USD100.73 a barrel, the highest price … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Rally On E.Z. Optimism; Dow Jones Up 2.59%

Posted: 28 Nov 2011 06:52 AM PST

Forexpros – U.S. stocks were sharply higher on Monday, as market sentiment improved amid hope for a European fiscal agreement aimed at tackling the debt crisis in the euro zone.

During early U.S. trade, the Dow Jones Industrial Average climbed 2.59%, the S&P 500 index advanced 3.01%, while the Nasdaq Composite index jumped 3.01%.

Market sentiment was boosted by reports that European Union leaders were negotiating the details of a fiscal pact to halt the spread of the region's debt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AmerisourceBergen In Neutral Zone

Posted: 28 Nov 2011 06:50 AM PST

We continue to have a Neutral recommendation on AmerisourceBergen Corp. (NYSE:ABC), with a target price of $38.00.
AmerisourceBergen reports revenues through its Pharmaceutical Distribution segment, which consists of four operating segments: AmerisourceBergen Drug Corporation (ABDC), AmerisourceBergen Specialty Group (ABSG), AmerisourceBergen Consulting Services (ABCS) and AmerisourceBergen Packaging Group (ABPG). The ABCS segment, which was previously a part of the ABSG segment, was formed in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Tumbles More Than 1.5% As Risk Appetite Recovers

Posted: 28 Nov 2011 06:44 AM PST

Forexpros – The U.S. dollar was sharply lower against its Canadian counterpart on Monday, as the outlook for higher-yielding assets was boosted by fresh hopes for a deal to stem the debt crisis in the euro zone.

USD/CAD hit 1.0305 during early U.S. trade, the pair's lowest since November 21; the pair subsequently consolidated at 1.0309, tumbling 1.53%.

The pair was likely to find support at 1.0198, the low of November 18 and resistance at 1.0448, the days high.

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

Akamai Eyes Cotendo Acquisition

Posted: 28 Nov 2011 06:35 AM PST

Reportedly, Akamai Technologies Inc. (NASDAQ:AKAM) is in talks to buy Cotendo, a content delivery network and application delivery network provider. Akamai is supposedly paying in the range of $300 million to $350 million for the company.
Cotendo has its headquarters in Sunnyvale, California, with a research and development facility in Netanya, Israel. Cotendo caters to 300 customers including telecommunications vendors, e-commerce sites, social networks, and advertising networks. Some of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

There’s An App For That: Mobile Baggage Tracking

Posted: 28 Nov 2011 06:32 AM PST

Now when you download the latest update to the Delta Airlines app, you'll be able to track your checked bag – just like you track a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Hits 9-day High On E.Z. Debt Hopes

Posted: 28 Nov 2011 06:26 AM PST

Forexpros – The euro extended gains against the yen on Monday, rallying to a nine-day high as hopes for a deal to contain debt contagion in the euro zone boosted demand for the single currency.

EUR/JPY hit 104.23 during European afternoon trade, the pair's highest since November 15; the pair subsequently consolidated at 104.37, rising 1.42%.

The pair was likely to find support at 102.69, the low of November 24 and resistance at 105.55, the high of November 15.

The single currency found … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodity Currencies Surge On Unsubstantiated Euro-zone Hopes

Posted: 28 Nov 2011 06:25 AM PST

Fundamental Headlines
• Central Banks Ease Most Since 2009 – Bloomberg
• OECD Cuts Growth Forecasts, Citing Doubts about Survival of Euro – Bloomberg
• IMF Denies in Italy Aid Talks – Reuters
• Euro Rises after Belgian Auction – WSJ
• Europe's Leaders Pursue New Pact – WSJ
European Session Summary
The U.S. Dollar headed into the weekend with some significant tail winds: the Euro-zone crisis appeared to be spiraling out of control and global equity markets defied history by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MannKind In Neutral Lane

Posted: 28 Nov 2011 06:20 AM PST

We are maintaining our Neutral stance on MannKind Corporation (NASDAQ:MNKD) with a target price of $3.00.
Valencia, California-based MannKind is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diabetes, cancer and inflammatory and autoimmune diseases. The company's lead pipeline candidate Afrezza is an inhaled insulin for the treatment of type I or type II diabetes.
In January 2011, MannKind suffered a setback when the US Food and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Akamai Technologies, Amarin Corporation PLC, Gap, AT&T, Ternium S.A.

Posted: 28 Nov 2011 06:11 AM PST

    AT&T, Inc. (NYSE:T) is planning to sue the Federal Communications Commission if it doesn't allow the company to withdraw its application to buy rival T-Mobile for $39 billion

    According to reports, Akamai Technologies, Inc. (NASDAQ:AKAM) is considering the purchase of Cotendo for over $300 million

    Amarin Corporation plc (NASDAQ:AMRN) said the U.S. Food and Drug Administration has accepted for review the application for a drug to treat … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Credit Card Delinquency Rate Falls To 16-Year Low

Posted: 28 Nov 2011 06:10 AM PST

The Federal Reserve recently released data on delinquency and charge-off rates at U.S. commercial banks for the third quarter of 2011.  For consumer credit cards, the delinquency rate fell for the 9th consecutive quarter to 3.47% during the July-September period this year, dropping to the lowest level since a 3.46% reading in the first quarter of 1995, more than 16 years ago (see blue line in chart).  Compared to the 4.35% quarterly average since 1992, the delinquency rate on credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cyber Monday Follows Solid Black Friday

Posted: 28 Nov 2011 06:05 AM PST

Market sentiment is looking up today, given reports of a solid start to the holiday shopping season. The headlines out of Europe also appear to be favorable this morning, but it is difficult to read much into them.
With the domestic economic scene no longer a major concern for the market, it is the unsettled European outlook that is keeping everybody on edge. The Euro-zone leadership, particularly Germany, has been unable thus far to reassure the markets of its determination to turn the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Panorama To Rule RIO Future

Posted: 28 Nov 2011 06:05 AM PST

Copper investments in Asia look attractive and given the pros and cons, Rio Tinto Plc. (NYSE:RIO) stands to cash in on the opportunities.
Copper: Mongolian Growth & Chinese Demand
The Mongolian Government predicts an economic boom, spurred by the Oyu Tolgoi copper-gold mine that produces gold, silver and copper worth over $3 billion per year. Meanwhile, in the last decade (2000-2010), the demand for copper was mostly driven by China. The issue therefore, begs the question whether indeed China … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Regeneron/Bayer Initiate Study

Posted: 28 Nov 2011 05:50 AM PST

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) and partner Bayer (BAYRY) recently announced the commencement of a late-stage study (SIGHT:n~300) in China to evaluate their injectable eye drug Eylea (aflibercept) for treating patients suffering from neovascular form of age-related macular degeneration (wet AMD).
The randomized, double-masked study is designed to evaluate the safety and effectiveness of Eylea, also known as VEGF (vascular endothelial growth factor) trap-eye, versus the standard … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sugar Bounces Off 5-month Low, Downside Risks Remain

Posted: 28 Nov 2011 05:46 AM PST

Forexpros – Sugar futures rebounded from a five-month low on Monday, tracking other commodities higher as risk appetite strengthened on hopes European leaders will boost efforts to tackle the region's ongoing debt crisis, however concerns that global supplies are ample kept a lid on gains.

On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.2316 a pound during European afternoon trade, climbing 1.45%.

It earlier rose by as much as 2.15% to trade at a two-day … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Extend Gains On Debt Hopes; DAX Surges 3.74%

Posted: 28 Nov 2011 05:38 AM PST

Forexpros – European stock markets extended gains on Monday, as market sentiment remained supported after a successful Belgian bond auction and amid signs of progress in tackling the euro zone's debt crisis.

During European morning trade, the EURO STOXX 50 soared 4.25%, France's CAC 40 climbed 4.21%, while Germany's DAX 30 surged 3.74%.

Earlier Monday, Belgium successfully auctioned EUR2 billion of 10-year bonds in the country's first debt auction since ratings agency Standard & … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gap Strengthens Its Chinese Outpost

Posted: 28 Nov 2011 05:30 AM PST

Gap Inc. (NYSE:GPS) recently announced the opening of its first flagship store in Hong Kong and has further plans of opening stores in the Chinese territory. These new store additions reflect the company's intention to further expand its global presence by increasing its store counts in China through company-operated stores, franchise and online channels.
Gap opened a 15,000 square feet store in Hong Kong's Central District. The store is spread over four floors and has a Chinese architectural … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

McDermott’s Woes To Continue

Posted: 28 Nov 2011 05:25 AM PST

Shares of McDermott International (MDR) are currently trading close to its 52-week low of $9.34. The energy-focused engineering and construction firm has seen its share price fall approximately 50% since the beginning of July this year, as investors have been selling the stock for its weak fundamentals and tepid outlook. The disappointing third quarter results have added to this bearishness.
Incorporated in 1959, McDermott primarily serves the worldwide offshore oil and gas field development … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

German CPI Holds Steady In November

Posted: 28 Nov 2011 05:19 AM PST

Forexpros – Consumer price inflation in Germany held steady in November, unchanged from the previous month, official preliminary data showed on Monday.

In a report, the German Federal Statistics Bureau said consumer price inflation was flat in November, unchanged from October's reading of 0.0%.

Analysts had expected German consumer prices to rise by 0.1% in November.

Year-on-year, German consumer price inflation accelerated at an annualized rate of 2.4%, broadly in line with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Lower As Market Sentiment Improves

Posted: 28 Nov 2011 05:17 AM PST

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Monday, as market sentiment improved, boosted by hopes for a deal to contain the spread of the debt crisis in the euro zone.

During European afternoon trade, the dollar was down against the euro, with EUR/USD rising 0.84% to hit 1.3350.

The euro was boosted by optimism that European Union leaders would be able to reach an agreement on a fiscal pact to halt the spread of the region's debt crisis ahead of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Remains Higher On E.Z. Deal Hopes

Posted: 28 Nov 2011 05:06 AM PST

Forexpros – The pound held gains against the U.S. dollar on Monday, amid hopes of a new deal designed to contain the debt crisis in the euro zone.

GBP/USD 1.5594 during European afternoon trade, the pair's highest since November 23; the pair subsequently consolidated at 1.5559, climbing 0.78%.

The pair was likely to find support at 1.5423, the low of November 25 and resistance at 1.5691, the high of November 22.

Risk sentiment was supported by speculation European Union leaders are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Brown Shoe In Line, Trims Outlook

Posted: 28 Nov 2011 05:05 AM PST

Footwear retailer and wholesaler Brown Shoe Company, Inc (NYSE:BWS) recently posted third quarter 2011 adjusted earnings of 51 cents per share, in line with the Zacks Consensus Estimate but ahead of the year-ago quarter earnings of 45 cents per share. The better-than-expected results were attributable to higher sales and margin expansion at the wholesale division.
St. Louis, Missouri-based company reported net sales of $713.8 million, down 0.3% year over year. The decline in sales was mainly on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JFK’s Assassination And The Markets

Posted: 28 Nov 2011 05:00 AM PST

11/28/11 NYFP’s “This Week in Wall Street History”: This week, Richard Anderson discusses the reaction of the markets following the assassination of President John F. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Holds Gains After Belgian Bond Auction

Posted: 28 Nov 2011 04:27 AM PST

Forexpros – The euro held gains against the U.S. dollar on Monday, trading close to the day's high after Belgium met its sales target at an auction of government debt and amid hopes for a deal that would halt the spread of the region's debt crisis.

EUR/USD hit 1.3398 during European afternoon trade, the pair's highest since Thursday; the pair subsequently consolidated at 1.3357, gaining 0.90%.

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

U.S. Futures Rise As Market Sentiment Recovers; Dow Jones Up 2.20%

Posted: 28 Nov 2011 04:13 AM PST

Forexpros – U.S. stock futures pointed to a sharply higher open on Monday, as market sentiment improved amid negotiations on a European fiscal agreement designed to tackle the region's deepening debt crisis.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a surge of 2.20%, S&P 500 futures signaled a 2.77% climb, while the Nasdaq 100 futures indicated a 2.41% increase.

Market sentiment found support amid speculation European Union leaders are moving closer to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

German Gfk Consumer Climate Rises Unexpectedly

Posted: 28 Nov 2011 04:10 AM PST

Forexpros – Germany’s consumer climate for December rose unexpectedly, industry data showed on Monday.

In a report, market research group Gfk said its index of Germany’s consumer climate rose by 0.2 points to 5.6 in December from 5.4 in November, whose figure was revised up from a reading of 5.3.

Analysts had expected the index to ease down by 0.3 points to 5.1 in December.

The report said that although the euro zone's debt crisis continued to escalate, there was a noticeable rise in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Holds Gains After Belgian Bond Auction

Posted: 28 Nov 2011 03:53 AM PST

Forexpros – The euro remained close to the day's highs against its major counterparts on Monday, boosted by hopes for an agreement by European leaders on a pact to arrest the spread of the region's debt crisis and despite rising Belgian borrowing costs.

During European early afternoon trade, the euro was sharply higher against the U.S. dollar, with EUR/USD rising 0.99% to hit 1.3368.

Belgium sold EUR2 billion of 10-year bonds in the country's first debt auction since ratings agency … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybean Futures Rebound From 13-month Low On EU Optimism

Posted: 28 Nov 2011 03:14 AM PST

Forexpros – Soybean futures advanced for the first time in three days on Monday, rebounding from the previous session's 13-month low on hopes that European leaders will boost efforts to tackle the region's ongoing debt crisis.

On the Chicago Mercantile Exchange, soybean futures for January delivery traded at USD11.2312 a bushel during European morning trade, climbing 1.4%.

It earlier rose by as much as 1.65% to trade at a two-day high of USD11.2712 a bushel.

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

U.K. CBI Realized Sales Drop More-than-expected

Posted: 28 Nov 2011 03:11 AM PST

Forexpros – Retail sale volumes in the U.K. declined significantly more-than-expected in November, falling at the fastest rate since March 2009, industry data showed on Monday.

In a report, the Confederation of British Industry said the result of its index of U.K. retailers fell by 8.0 points to minus 19.0 in November from a reading of minus 11.0 in October.

Analysts had expected the index to ease down by 1.0 point to minus 12.0.

On the index, a reading above 0.0 indicates higher sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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