Tuesday, November 15, 2011

DailyMarkets.com - Earnings Scorecard: Varian Medical

DailyMarkets.com - Earnings Scorecard: Varian Medical

Earnings Scorecard: Varian Medical

Posted: 15 Nov 2011 12:15 PM PST

Oncology and X-Ray products company, Varian Medical Systems (NYSE:VAR) reported fourth-quarter fiscal 2011 earnings per share from continuing operations of 95 cents, missing the Zacks Consensus Estimate of 97 cents and exceeding the corresponding year-ago earnings of 87 cents.
Net earnings for the quarter slipped 4% year over year to $100.7 million (or 87 cents a share) as the company booked a $9.7 million charge for the settlement of all remaining contractual commitments in its discontinued ACCEL … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alkermes Cut To Neutral

Posted: 15 Nov 2011 12:05 PM PST

We recently downgraded Alkermes plc (NASDAQ:ALKS) to Neutral from Outperform following the average results delivered by the company in the second quarter of fiscal 2012.
Alkermes suffered a loss of $0.07 per share (excluding merger related costs and amortization of acquired intangible assets) in the second quarter. The Zacks Consensus loss estimate was $0.10 per share.
The results of the second quarter of fiscal 2012 included 14 days results of Elan Corporation's (NYSE:ELN) drug delivery unit, Elan … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Marvell Tech.

Posted: 15 Nov 2011 11:50 AM PST

Marvell Technology Group (NASDAQ:MRVL) is scheduled to announce its third quarter 2012 results on November 17, 2011, and we mostly see downward revisions in analyst estimates at this point of time.
Second Quarter Overview
Marvell Technology delivered a modest second quarter with its bottom line beating the Zacks Consensus Estimate by a penny.
Marvell Technology's second quarter 2012 revenue was flattish year-over-year and within the guided range. The company's supply chain was severely disrupted … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Simcere Pharma Misses On All Fronts

Posted: 15 Nov 2011 11:40 AM PST

Simcere Pharmaceutical Group's (NYSE:SCR) third quarter 2011 earnings of 10 cents per American Depositary Share (ADS) fell short of the Zacks Consensus Estimate and the year-ago earnings by 5 cents each. The reduction in earnings was attributable to lower revenues recorded in the third quarter of 2011.
Revenues at Simcere Pharma came in at $78.5 million in the third quarter of 2011, down 4.5% year over year. The decline was primarily attributable to reduced sales of some branded generic products … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Market Nibbles

Posted: 15 Nov 2011 11:36 AM PST

Cusick’s Corner
This has been a choppy trade but productive in the sense that the market is holding critical levels, 1250 on the SPX. While there is still uncertainty, the bid has been active, especially in Tech, QQQ and Finance, XLF, in spite of 6% yield on Spanish debt. (This could be a byproduct of forced stock liquidation because of the ban on shorting financials in the EU). The data was decent this morning and did not weigh on the market, but the mood has tempered even with the EU … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Thoratec To Outperform

Posted: 15 Nov 2011 11:35 AM PST

We upgrade our rating on Thoratec Corporation (NASDAQ:THOR) to Outperform. Its third quarter earnings beat the Zacks Consensus Estimate while profit surged year over year, helped by higher revenues.
The overall market size for Ventricular Assist Devices(VADs) is varyingly estimated at well over a billion dollars. Thoratec enjoys first mover advantage and the growing number of HeartMate II centers indicates increasing acceptance. Moreover, we believe that leverage will raise earnings per share.
We do … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Goodrich Inks Emirates Deal

Posted: 15 Nov 2011 11:20 AM PST

Goodrich Corporation (NYSE:GR) has signed a couple of important agreements with Emirates. First and foremost, the two companies signed a General Terms Agreement ("GTA") that provides a broad guideline for all future aftermarket agreements in the areas of maintenance, repair and overhaul ("MRO"). The second agreement is an application of the first. Under a ten-year Specific Business Agreement, Goodrich would cover overhaul and support services of 16 passenger evacuation slides on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ensco, Nexen In Rig Contract

Posted: 15 Nov 2011 11:05 AM PST

Ensco plc (NYSE:ESV) has entered into a contract with Nexen Petroleum, a subsidiary of Nexen Inc. (NYSE:NXY) for its ultra-premium harsh environment jackup rig, ENSCO 120. The rig will be employed for the development of 10 wells in Nexen's Golden Eagle acreage in the Central North Sea.
The value of the deal has been estimated at $120 million, which can expand to approximately $140 million, if Nexen extends the contract through 11 one-well options.
The contract is slated to be functional in fourth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sprint Announces Holiday Discounts

Posted: 15 Nov 2011 11:05 AM PST

Looking ahead at the Christmas and holiday season, Sprint (NYSE:S) has announced discounted offering on wireless Broadband services. The company will now charge $50 a month for 6 gigabytes (GB) compared to its previous offer (launched in November 1) of $60 a month for 5 GB.
The discounted offer does not cover smartphone users but counts data downloads on tablets, mobile hotspots and laptops. The strategic decision to cut wireless data prices will help Sprint garner market traction as well as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Honda Resumes Thai Production

Posted: 15 Nov 2011 11:05 AM PST

Honda Motor Co. (NYSE:HMC) has resumed the production of motorcycles and power products at its subsidiary plant in Thailand, which was closed due to the severe floods in the country recently. However, the company's automobile factory in Thailand will remain closed due to the inundation.
Production of motorcycles was suspended since October 11 due to disruptions in parts supply at its plant operated by Honda Automobile (Thailand) Co., Ltd.
Honda continues to limit production at its six automobile … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The U.S. Session

Posted: 15 Nov 2011 10:45 AM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday after the release of U.S. data on Retail Sales.

USD/JPY was trading at 77.04, down 0.04% at time of writing.

The pair was likely to find support at 76.82, Monday's low, and resistance at 77.87, Thursday's high.

Earlier in the day, official data showed that retail sales in the U.S. rose more-than-expected to a seasonally adjusted 0.5% last month, from 1.1% in the preceding month.

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

Digital Realty Secures Funds

Posted: 15 Nov 2011 10:40 AM PST

Digital Realty Trust Inc. (NYSE:DLR), a niche real estate investment trust (REIT), has recently closed a $1.5 billion senior unsecured revolving credit facility to replace and augment its existing credit facilities comprising corporate revolving credit facility (a borrowing capacity of $750 million) and Asia Pacific revolving credit facility (a borrowing capacity of approximately $100 million) that were scheduled to mature in August 2012.
The new credit facility is scheduled to mature in November … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bobby Heller: “Uncertainty In Europe Looming”

Posted: 15 Nov 2011 10:40 AM PST

11/15/11 OnPoint Executions’ Bobby Heller discusses ongoing EU debt woes and the latest US economic data … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Above The 100 Bar MA

Posted: 15 Nov 2011 10:36 AM PST

In the last few hours the price has traded above the 100 bar MA 3 separate times. Each time the price has rotated back down after failing. Market traders will be anxious this third time as well.  The next target above will be eyed for clues to the markets willingness to continue the move higher from the days low.  That target comes against the 38.2% retracement of the days range and the trendline. 
Understand that trading is very choppy and subject to news … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TJX Meet Expectations

Posted: 15 Nov 2011 10:25 AM PST

TJX Companies Inc. (NYSE:TJX) reported adjusted earnings of $1.06 per share for the third quarter ended October 29, 2011. Although earnings were in line with the Zacks Consensus Estimate, they shot up 15% from the year-ago level. The growth was partly offset by warm weather in most parts of Europe and America, sudden lowering of Celsius in Europe during the end of the quarter bucked up sales in the region.

Foreign currency movement contributed 1% to the earnings of the third quarter. Overall net … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dynegy Misses

Posted: 15 Nov 2011 10:25 AM PST

Dynegy Inc. (NYSE:DYN) reported a third quarter adjusted loss of 21 cents per share lower than the Zacks Consensus estimate of a loss of 19 cents. Also, the company had incurred a loss of 18 cents in the prior-year period. The decline stemmed from lower generation, lower realized prices from spark spreads, and lower revenues from fewer hedging opportunities.
These reductions were partially offset by a decrease in general and administrative expenses as a result of cost savings and productivity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chesapeake Aims $13B Cash In 2012

Posted: 15 Nov 2011 10:25 AM PST

According to a report, Chesapeake Energy Corporation (NYSE:CHK) estimates generating nearly $13 billion in cash in 2012 through operating cash flow and future deals. The amount should suffice for its capital expenditure and help in reducing debt.
Chesapeake has been spending heavily, buying acreage in shale basins that contain crude oil or natural gas with high liquids content. This buying spree has raised concerns within various investor groups.
Till date, the company has built leasehold … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Lower; Dax Down 0.87%

Posted: 15 Nov 2011 10:05 AM PST

Forexpros – European stocks were down after the closing bell on Tuesday.

At the close of European trade, Germany's DAX fell 0.87%, London's FTSE 100 shed 0.03%, France's CAC 40 declined 1.92% and the EURO STOXX 50 was down 1.50%.

Earlier in the day, data showed that German ZEW economic sentiment fell more-than-expected to -55.2 last month, from -48.3 in the preceding month.

Analysts had expected German ZEW economic sentiment to fall to -52.5 last month.

Meanwhile, on Wall Street, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Canine Food Truck

Posted: 15 Nov 2011 09:55 AM PST

“Fido to Go is Chicago’s premier gourmutt food truck serving hand-crafted canine cookies & doggy ice creams! Find us out and about at the city’s dog parks, beaches, and special events. We are also available to cater doggy parties and can even provide the games, activities, and photographer!”

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

Greenback Remains In The Green

Posted: 15 Nov 2011 04:30 AM PST

11/15/11 With no help from data, risk aversion remained strong this afternoon as the euro continues to slide against its safer-haven counterparts while the dollar has continued to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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