Thursday, November 10, 2011

DailyMarkets.com - Earnings Preview: DR Horton

DailyMarkets.com - Earnings Preview: DR Horton


Earnings Preview: DR Horton

Posted: 10 Nov 2011 08:05 AM PST

DR Horton Inc. (NYSE:DHI) announced that it would release its results for the fourth quarter and full fiscal 2011 that ended on September 30, 2011 before the market opens on November 11, 2011. Fort Worth, Texas-based DR Horton realized earnings per share of 14 cents in the third quarter, higher than the Zacks Consensus Estimate of 6 cents.
In the upcoming quarter, the Zacks Consensus Estimate for DR Horton is pegged at a profit of 15 cents per share, reflecting an annualized growth of 604.76%. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CSC Reports Modest 2Q

Posted: 10 Nov 2011 07:50 AM PST

Computer Sciences Corporation (CSC) reported second quarter 2012 earnings per share (EPS) of 94 cents, way ahead of the Zacks Consensus Estimate of 68 cents.
Revenue
The company's second quarter 2012 revenues inched up 0.79% year over year to $3.97 billion.  
The company also witnessed year-over-year revenue growth in the company's Business Solutions & Services (BSS) segment and the Managed Service Sector (MSS). Within the commercial segment, strong revenue growth in the BSS … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Liberty Interactive Outperforms

Posted: 10 Nov 2011 07:35 AM PST

Liberty Interactive Inc. (NASDAQ:LINTA) reported solid financial results in the third quarter of 2011. Quarterly total revenue of $2,133 million was an improvement of 8.4% year over year, surpassing the Zacks Consensus Estimate of $2,110 million. Quarterly EPS came in at 16 cents, well above the Zacks Consensus Estimate of 14 cents.
Quarterly total operating income was $224 million compared with $220 million in the year-ago quarter. In the third quarter of 2011, consolidated adjusted OIBDA was $377 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD 38.2% At 1.3626. 1.3607 Nov 1 Low. Battle Lines Are Drawn

Posted: 10 Nov 2011 07:33 AM PST

Forex Trading: EURUSD Testing Intraday Support Targets

Posted: 10 Nov 2011 07:33 AM PST

The EURUSD is testing the next targets a the 100 hour MA and the 38.2% of the days trading range. Those levels come in at the 1.3577-85 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Highwoods Beats, Narrows Outlook

Posted: 10 Nov 2011 07:20 AM PST

Highwoods Properties Inc (HIW) reported FFO (fund from operations) of $42.7 million or 56 cents per share in the third quarter of 2011 compared with $43.2 million or 57 cents per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding one-time charges, reported FFO in the quarter stood at 65 cents per share compared with 58 cents … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CEC Tops Estimate, Hikes Dividend

Posted: 10 Nov 2011 07:05 AM PST

Texas-based CEC Entertainment Inc. (NYSE:CEC) reported earnings of 62 cents per share in the third quarter of 2011, ahead of the Zacks Consensus Estimate of 57 cents. Reported earnings also beat the prior-year quarter earnings of 60 cents.
However, total revenue tumbled 3.5% year over year to $200.0 million, primarily due to lower comparable store sales (down 6.3%). Sales at company-operated restaurants dipped 4.0% to $197.9 million, partially offset by a 126.7% surge in franchise fees and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Viacom Reports Blockbuster 4Q

Posted: 10 Nov 2011 06:55 AM PST

Viacom Inc. (VIA.B) declared blockbuster financial results in the fourth quarter of 2011. In synergy with such strong performance, the company increased its share repurchase authorization from $4 billion to $10 billion.
Quarterly net income from continuing operation was $576 million or $1.00 per share in the reported quarter compared with $488 million or 80 cents per share in the prior-year quarter. However, adjusted (excluding debt extinguishment cost) EPS of $1.06 was ahead of the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Stocks Rise As Risk Sentiment Recovers; Dow Jones Up 0.86%

Posted: 10 Nov 2011 06:54 AM PST

Forexpros – U.S. stocks rallied on Thursday, as risk aversion eased amid signs of political progress in Italy and Greece and after upbeat U.S. jobless claims and trade balance data.

During early U.S. trade, the Dow Jones Industrial Average jumped 0.86%, the S&P 500 index surged 0.88%, while the Nasdaq Composite index climbed 0.35%.

Italy auctioned EUR5 billion of one-year Treasury bills at an average yield of 6.08%, the highest since September 1997, but still well below analyst … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Suntech Reports Preliminary Results

Posted: 10 Nov 2011 06:50 AM PST

Solar Panel maker, Suntech Power Holdings Company Ltd. (NYSE:STP) announced preliminary financial results for its third quarter ending September 30, 2011.
Suntech expects shipments for the third quarter of 2011 to increase by 15% from the second quarter of 2011. Revenues in the third quarter of 2011 are expected to exceed $800 million. Gross margin is expected to be approximately 13%, at the high end of the previously guided range of 11%–13%.
Suntech achieved 2.4 GW of PV cell and module … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Corn Succumbs To Weak Demand, Outside Markets

Posted: 10 Nov 2011 06:38 AM PST

Thursday, November 10, 2011
The shrinking Corn crop, affected by the hot weather across much of the Midwest, gave traders little reason to rejoice, as the demand outlook for the grain turned sharply south. Strong export sales and higher cattle on feed numbers could give bulls a reason to step back into the market. However, if these figures are disappointing, Corn could see recent gains erased. Technically, Corn has been moving higher, but without any gusto. Some traders may perhaps want to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Hanging Around 38.2% Of The Trend Move Yesterday

Posted: 10 Nov 2011 06:38 AM PST

The 38.2% of the move down from yesterday (into today) comes in at the 1.3626 level  The current price is around that level. There is upside resistance at the 1.3635 level and above that the 1.3650/56 area (see daily chart below for all the prior lows around this area).  On the downside the 1.3607 level (November low prior to yesterdays move down) needs to be broken to swing the intraday bias back to the downside for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: GBPUSD Tests 38.2% And Finds Profit Takers

Posted: 10 Nov 2011 06:38 AM PST

The GBPUSD had a 50 pip range coming into the NY session. That range was just too narrow. So a move to the upside ensued that took the price up to the 38.2% of the  move down from the most recent high from November 8th.  That level comes in at the 1.5980 level. The high reached just above that level at the 1.5983 level.
The fall from the high has corrected 50% of the now 87 pip range to 1.59395.  The level is also near the pre NY high of 1.5938.  This level will need to be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Wendy’s Beats By A Penny

Posted: 10 Nov 2011 06:35 AM PST

The Wendy's Co. (NYSE:WEN) has recently posted third quarter 2011 adjusted earnings of 5 cents per share, beating the Zacks Consensus Estimate by a penny. On a GAAP basis, the company's earnings were a penny per share compared with a break-even result in the prior-year quarter.
Operational Highlights
Wendy's total revenue grew 1.8% year over year to $611.4 million in the quarter, mainly on an upside in company-operated restaurants (up 3.0%) and franchise revenues (up 1.7%), partially offset … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/CAD Slides As Market Sentiment Strengthens

Posted: 10 Nov 2011 06:34 AM PST

Forexpros – The U.S. dollar slipped to a session low against its Canadian counterpart on Thursday, as market sentiment strengthened after upbeat U.S. and Canadian data supported demand for higher-yielding assets.

USD/CAD hit 1.0167 during early U.S. trade, the session low; the pair subsequently consolidated at 1.0185, shedding 0.58%.

The pair was likely to find support at 1.0077, Wednesday's low and resistance at 1.0265, the day's high and a four-week high.

Sentiment was boosted after … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Rallies To 3-month High On EU Hopes, U.S. Jobless Data

Posted: 10 Nov 2011 06:26 AM PST

Forexpros – Crude oil futures rallied to a three-month high on Thursday, amid signs of progress surrounding the euro zone's debt crisis and after data showed that U.S. jobless claims fell to the lowest level in seven months last week.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD97.42 a barrel during U.S. morning trade, jumping 1.76%.

It earlier rose by as much as 1.95% to trade at USD97.89 a barrel, the highest price since August … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Italian Auction Soothes Fears, Euro Gains; Bank Of England Holds Rates

Posted: 10 Nov 2011 06:25 AM PST

Fundamental Headlines
• Recession Risk Grows for Euro Region as Commission Reduces 2012 Forecast – Bloomberg
• U.S. Jobless Claims Fall to Lowest in Seven Months – Bloomberg
• New Italian Government Seen Within Days – Reuters
• Italy Hastens Last-Ditch Budget Cuts – WSJ
• Papademos Named Greek Leaders – WSJ
European Session Summary
After yesterday's losses saw significant follow through into Asian trading on Thursday, the European session proved crucial once again. With … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Markets In Everything: $19 Unlimited Phone Plan

Posted: 10 Nov 2011 06:25 AM PST

YAHOO NEWS — “When it comes to mobile carriers, consumers may have four major choices, but they’re all starting to look the same — and that isn’t a good thing. But a new provider, Republic Wireless, headquartered in North Carolina, is shaking things up with a rather unbelievable $19 a month no-contract plan. That’s $19 not just for unlimited calling and texting, but mobile data too.”

MP: Gotta love the cutthroat competition, often the best form of “regulation” and market discipline, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


An Italian Haircut?

Posted: 10 Nov 2011 06:21 AM PST

The Euro-zone debt crisis that started in Greece almost two years ago and subsequently spread to Ireland and Portugal has now reached the monetary union’s core. Italy is now firmly in the eye of the storm. But Italy is quite different from the peripheral countries that became the first victims of the crisis. The most important distinction is its size — it is the 8th largest economy in the world and the third largest in the Euro-zone.

One often-used descriptive for the country is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


AmBev Brews Higher Sales, EPS Slips

Posted: 10 Nov 2011 06:21 AM PST

The Brazilian beer giant Companhia de Bebidas das America (NYSE:ABV), aka AmBev, reported third-quarter 2011 earnings of R$0.53 (33 cents) per share, which declined 9.9% from prior-year quarter's earnings of R$0.59 (34 cents) a share. Higher financial costs and higher effective tax rate more than offset the growth in net sales and improved margins.
Financial Details
Net sales for the quarter increased 10.6% to R$6,374.5 million (US$3,921.6 million), compared with R$5.978.2 million (US$3,398.6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Stock Market News Briefs: Adobe Systems Incorporated, Alaska Communications Systems Group, Central European Distribution, General Motors, Hartford Financial Services Group, Maidenform Brands, Blue Nile, Salix Pharmaceuticals, Ltd., Susser Holdings Corporation

Posted: 10 Nov 2011 06:11 AM PST

    General Motors (NYSE:GM) reported Q3 EPS of $1.03, beating the Zacks Consensus Estimate of $0.99. Revenues for the quarter rose to $36.7 billion, which came in above the Zacks consensus Estimate of $35.66 billion

    Ameresco (AMRC) posted Q3 EPS of $0.27, a penny ahead of the Zacks Consensus Estimate of $0.26 per share. Revenues for the quarter rose 18.8% year-over-year to $227.8 million

    Maidenform Brands (NYSE:MFB) reported Q3 EPS of $0.44, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Caught In A Whirlpool

Posted: 10 Nov 2011 06:08 AM PST

At times, the market these days makes you feel as you might when you’re caught in a whirlpool while kayaking down a raging river. You know the current’s general direction but all you sense at that moment is that you’re unable to extricate yourself from being whipped around in circles.
While “whirlpool” might describe how we investors feel, a better description of the market might be “unprecedented”. Frequent readers here know that my market timing discipline rests on the alignment of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Exports, Total Trade Reach Record Highs

Posted: 10 Nov 2011 06:06 AM PST

The total volume of U.S. international trade activity (exports + imports) reached an all-time record high in September (not adjusted for inflation, BEA report here) of $404 billion, slightly higher than the previous record of $401 billion in July 2011 (see top chart above).  Compared to the recession-related, cyclical low of $277 billion of trade activity in May 2009, there has been a 46% increase in U.S. trade, as the U.S. and world economies have gradually  recovered from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/JPY Bounces Off 2-week Low On Greece/Italy Hopes

Posted: 10 Nov 2011 06:06 AM PST

Forexpros – The euro advanced against the yen on Thursday, pulling back from a two-week low as signs of political progress in Italy and in Greece supported demand for the single currency.

EUR/JPY hit 105.98 during European afternoon trade, the daily high; the pair subsequently consolidated at 105.86, rising 0.44%.

The pair was likely to find support at 104.18, the low of October 12 and resistance at 107.68, the high of October 17.

The euro found support after Italy's Treasury auctioned … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Wider Loss At Isis Pharma

Posted: 10 Nov 2011 06:05 AM PST

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) reported a net loss of 27 cents per share in the third quarter of 2011, well above the year-ago loss of 13 cents and the Zacks Consensus loss Estimate of 21 cents. Revenues came in at $20.7 million, well below the Zacks Consensus Estimate of $25 million and the year-ago revenues of $27.8 million. Higher operating expenses and lower revenues led to the wider third quarter 2011 loss.
Quarter in Detail
Revenues, which include license fees, milestone-related … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


American Superconductor Misses

Posted: 10 Nov 2011 05:53 AM PST

Wind turbine technology company, American Superconductor Corporation (AMSC) reported a loss for its second quarter of fiscal year 2011 ending September 30, 2011. In the reported quarter the company digested a net loss of $1.02 per share, far above the Zacks Consensus Estimate of a loss of 73 cents and the prior year’s profit of 17 cents.
Operational Statistics
American Superconductor's total revenue of $20.8 million in the reported quarter was far lower than $98.1 million in the year-ago … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Trade Deficit Narrows Unexpectedly In September

Posted: 10 Nov 2011 05:53 AM PST

Forexpros – The U.S. trade deficit narrowed unexpectedly in September, as exports rose to a record high and imports stagnated, official data showed on Thursday.

In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted USD43.1 billion in September, compared to a deficit of USD44.9 billion in August, whose figure was revised from a deficit of USD45.6 billion.

Analysts had expected the U.S. trade deficit to widen to USD46.2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Initial Jobless Claims Fall To 7-month Low

Posted: 10 Nov 2011 05:47 AM PST

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week fell to a seven-month low, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 4 fell by 10,000 to a seasonally adjusted 390,000. Analysts had expected jobless claims to hold steady at 400,000.

The previous week's figure was revised up to 400,000 from 397,000.

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


European Stocks Higher On Italian Bond Auction; DAX Climbs 1.27%

Posted: 10 Nov 2011 05:44 AM PST

Forexpros – European stock markets turned higher on Thursday, as market sentiment strengthened after Italy successfully auctioned EUR5 billion of government bonds at lower-than-expected yields and Greece named a new prime minister.

During European morning trade, the EURO STOXX 50 jumped 1.29%, France's CAC 40 advanced 0.70%, while Germany's DAX 30 inched down climbed 1.27%.

Italy auctioned EUR5 billion of one-year Treasury bills at an average yield of 6.08%, the highest since September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Canada Trade Balance Swings To Surplus In September

Posted: 10 Nov 2011 05:41 AM PST

Forexpros – Canada's trade balance swung to a surplus for the first time in nine months in September, official data showed on Thursday.

In a report, Statistics Canada said that Canada' trade balance swung to a surplus of CAD1.2 billion in September, after posting a deficit of CAD0.5 billion in August, whose figure was revised from a deficit of CAD0.6 billion.

It was the first trade surplus since January 2011.

Analysts had expected Canada's trade balance to post a 0.5 billion deficit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Green Mountain Soars But Falls Shy

Posted: 10 Nov 2011 05:35 AM PST

Green Mountain Coffee Roasters (NASDAQ:GMCR) reported robust fourth quarter 2011 results with its quarterly earnings per share (EPS) shooting up 96% year on year to 47 cents. The specialty coffee and coffee maker's fiscal 2011 earnings soared 113% on a yearly basis to $1.64.
However, both fourth quarter and fiscal 2011 EPS failed to surpass the Zacks Consensus Estimate of 48 cents and $1.66, respectively.
The year-on-year upswing came on the back of success of Keurig Single-Cup Brewing System … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Extends Losses Vs. Rivals As Euro Regains Ground

Posted: 10 Nov 2011 05:30 AM PST

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Thursday, as the euro regained ground after a successful Italian bond auction supported demand for higher yielding assets.

During European afternoon trade, the dollar was lower against the euro, with EUR/USD rising 0.67% to hit 1.3634.

Italy's Treasury auctioned EUR5 billion of one-year government bonds at an average yield of 6.08%, the highest since September 1997, but still well below analyst expectations of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Cotton Rises To 6-day High On USDA Report, Higher China Imports

Posted: 10 Nov 2011 05:27 AM PST

Forexpros – Cotton futures rose sharply on Thursday, jumping to a six-day high after the U.S. Department of Agriculture lowered its forecast for the U.S. cotton harvest and after data showed Chinese cotton imports surged last month.

On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.9954 a pound during European afternoon trade, rallying 2.43%.

It earlier fell by as much as 2.7% to trade at USD1.000 a pound, the highest price since November 2.

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


Loss Narrows At Lions Gate

Posted: 10 Nov 2011 05:16 AM PST

Lions Gate Entertainment Corp. (NYSE:LGF) reported a loss of 18 cents per share in the second quarter of 2012, improving considerably from a loss of 22 cents a share in the prior-year quarter as well as the Zacks Consensus Estimate of a loss of 36 cents.
Gain on the sale of Maple Pictures and a notable rise in equity interest income helped the company narrow down the loss and drive bottom-line numbers.
Management stated that the sturdy performance of television and digital businesses were more … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Futures Rise After Italian Bond Auction; Dow Jones Up 1%

Posted: 10 Nov 2011 05:06 AM PST

Forexpros – U.S. stock futures were sharply higher on Thursday as risk aversion eased after Italy successfully auctioned EUR5 billion of government bonds at lower-than-expected yields and Greece named a new prime minister.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 1.26%, S&P 500 futures signaled a 1.27% increase, while the Nasdaq 100 futures indicated a 1.11% gain.

Italy auctioned EUR5 billion of one-year Treasury bills at an average yield of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Federal Realty Edges Past Estimates

Posted: 10 Nov 2011 05:05 AM PST

Federal Realty Investment Trust (NYSE:FRT), a leading real estate investment trust (REIT), reported third quarter 2011 FFO (funds from operations) of $63.9 million or $1.01 per share compared with $58.8 million or $0.95 per share in the year-earlier quarter.
Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The reported quarterly FFO beat the Zacks Consensus Estimate by 2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Odds For Perry Plummet On Intrade To 4.3%

Posted: 10 Nov 2011 05:04 AM PST

Intrade odds for Rick Perry to be the Republican nominee fell from 10% a few days ago to 4.3% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Swing Trade Idea, Health

Posted: 10 Nov 2011 04:58 AM PST

The best stocks are being pulled down, giving folks a second chance to get in on the best of the best. This health stock is having a very bullish pullback, and its ready to swing on up, keep an eye on it.

Stock : BMY

Why..
- Good cycle action
- Good rising volume with rising prices and falling volume with falling prices ( RTT VolumeWave confirms this)
- Making higher highs and higher lows.
- Sector is leading
- Fundamentals, good.

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


Forex – EUR/USD Hits Session High On Italy, Greece Hopes

Posted: 10 Nov 2011 04:45 AM PST

Forexpros – The euro rose to a session high against the U.S. dollar on Thursday, boosted by signs of political progress in Italy and Greece and as Italian borrowing costs eased after surging to near unsustainable levels.

EUR/USD hit 1.3638 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3634, advancing 0.70%.

The pair was likely to find support at 1.3483, the days low and resistance at 1.3858, Wednesday's high.

Earlier Thursday Italy's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Cisco Soars On Solid Q1 Results

Posted: 10 Nov 2011 04:36 AM PST

Cisco Systems (NASDAQ:CSCO) first quarter 2011 earnings (excluding one-time items and including stock based compensation) that beat the Zacks Consensus estimate by 7 cents, or 20.6%. Revenue exceeded the consensus by 2.1%.
CSCO shares dropped 3.82% during the day, in line with the NASDAQ, which dropped 3.88%. However, shares jumped 2.61% after the company reported earnings, making up for most of the loss.
Revenue
Revenue of $11.26 billion was up 0.5% sequentially and 4.7% year over year, better than … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Hits Session High As Sentiment Improves

Posted: 10 Nov 2011 04:27 AM PST

Forexpros – The pound hit a fresh session high against the U.S. dollar on Thursday, as market sentiment improved after Italian borrowing costs eased and after the Bank of England held pat on rates and announced no fresh easing measures.

GBP/USD hit 1.5940 during European early afternoon trade, the session high; the pair subsequently consolidated at 1.5932, gaining 0.11%.

Cable was likely to find short-term support at 1.5875, the low of November 3 and resistance at 1.6119, Wednesday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bank Of England Holds Key Interest Rate At 0.50%

Posted: 10 Nov 2011 04:03 AM PST

Forexpros – The Bank of England kept its benchmark interest rate unchanged for the 32nd consecutive month in November, it announced on Thursday.

The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move.

The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at GBP275 billion, following a GBP75 billion increase in the previous month.

The minutes of the meeting of the central bank's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Corn Trades Close To 6-week High After USDA Cuts Supply Forecast

Posted: 10 Nov 2011 03:49 AM PST

Forexpros – Corn futures advanced on Thursday, trading close to the previous session's six-week high after the U.S. Department of Agriculture cut its forecast for the U.S. corn harvest for the fourth consecutive month.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD6.6162 a bushel during European morning trade, climbing 0.86%.

It earlier rose by as much as 1.1% to trade at a daily high of USD6.6212 a bushel. Corn prices rose to USD6.6550 a bushel on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil To Correct Higher With S&P 500, Gold Still Watching Bernanke

Posted: 10 Nov 2011 03:46 AM PST

Talking Points

Crude Oil Set to Recover as Risky Assets Correct Higher After Selloff
Gold Outlook Rests on US Dollar, Bernanke Speech's QE3 Implications

WTI Crude Oil (NY Close): $95.74 // -1.06 // -1.10%
S&P 500 stock index futures are on the rebound and European shares have erased earlier losses, hinting crude oil is likely to have an opportunity to recover along with a broad-based bounce in risky assets. A corrective move higher would certainly not be unusual after yesterday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/GBP Off 8-month Low After Italian Bond Auction

Posted: 10 Nov 2011 03:10 AM PST

Forexpros – The euro was higher against the pound on Thursday, rebounding from an eight-month low after Italy successfully auctioned EUR5 billion of government bonds at lower-than-expected yields.

EUR/GBP pulled back from 0.8484, the pair's lowest since March 2, to hit 0.8524 during European morning trade, rising 0.18%.

The pair was likely to find support at 0.8484, the days low and resistance at 0.8565, Wednesday's high.

Italy auctioned EUR5 billion of one-year Treasury bills at an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Is This The Merkel Capitulation?

Posted: 10 Nov 2011 12:31 AM PST

Is this a sign of panic from Angela Merkel? As we watched markets crater over the spectacle of an Italian bond market melt down, Angela Merkel seems to have thrown in the towel and called for a breakup of the eurozone. Reuters reports that she agreed with Sarkozy’s idea of “a two-speed Europe in which euro zone countries accelerate and deepen integration while an expanding group outside the currency bloc stays more loosely connected ”
It is time for a breakthrough to a new Europe. A community … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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