Wednesday, November 16, 2011

DailyMarkets.com - ETP Completes Unit Offering

DailyMarkets.com - ETP Completes Unit Offering

ETP Completes Unit Offering

Posted: 16 Nov 2011 08:05 AM PST

Energy Transfer Partners L.P. (ETP) announced the closure of its previously announced public offering. The firm priced the public offering of 13,250,000 common units at $44.67 apiece.
The natural gas and propane gas master limited partnership (MLP) plans to use the net proceeds from this offering to pay back outstanding debt under its revolving credit facility, to finance capital expenditures associated with pipeline construction projects and for general partnership purposes.
Dallas, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Revenues Decline At American Oriental

Posted: 16 Nov 2011 07:50 AM PST

American Oriental Bioengineering's (NYSE:AOB) third quarter 2011 earnings (excluding the gain on debt extinguishment) came in at 7 cents per share, beating the Zacks Consensus Estimate by  2 cents. The company's adjusted earnings in the third quarter of 2010 were 7 cents per share. Earnings in the third quarter of 2011 were hurt by lower revenues.
Quarter in Details
Revenues in the third quarter of 2011 declined 41.1% to $53.9 million. Weakness in the manufacturing segment (down 43.9%) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Autodesk Reports Strong 3Q

Posted: 16 Nov 2011 07:50 AM PST

Autodesk Inc. (NASDAQ:ADSK) reported third quarter 2012 earnings of 36 cents per share, beating the Zacks Consensus Estimate by 2 cents. Earnings per share (EPS), including stock-based compensation but excluding one-time charges increased 33.3% year over year, driven by continued growth in revenues across geographies and business segments.
Revenue
Revenues increased 15.1% year over year to $548.6 million in the reported quarter, beating the Zacks Consensus Estimate of $544.0 million. Revenues were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Solid Quarter For Meritor

Posted: 16 Nov 2011 07:20 AM PST

Meritor Inc. (MTOR) reported net income of $38 million or 40 cents per share from continuing operations in the fourth quarter of fiscal 2011, up significantly from $9 million or 9 cents per share in the year-ago quarter.
Adjusted income from continuing operations amounted to $43 million or 44 cents per share compared with $14 million or 15 cents per share in the corresponding quarter of fiscal 2010. Adjusted income was significantly ahead of the Zacks Consensus Estimate of 25 cents per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RIMM Launches New Smartphones

Posted: 16 Nov 2011 07:05 AM PST

BlackBerry-maker Research In Motion Ltd.,(NASDAQ:RIMM) recently announced the launch of two new smartphones namely, BlackBerry Bold 9790 and BlackBerry Curve 9380. The new smartphones are based on the company's newly launched BlackBerry 7 (BB7) operating system.  
BlackBerry Bold 9790 features 8GB memory in-built memory and is expandable up to 32GB. It also offers huge multimedia support and easy browsing facility.  On the other hand, the new BlackBerry Curve 9380 is an all-touch handset … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hhgregg Decks Up For Holiday Season

Posted: 16 Nov 2011 06:50 AM PST

In order to reach more customers and meet their demand during the holiday season, hhgregg Inc.(NYSE:HGG) announced the opening of numerous new stores in several parts of the country.
Indianapolis-based hhgregg added two new stores in Ford City, Chicago and in North Riverside of Chicagoland. These were in addition to the 14 new stores added in this area in September 2011. The world's leading electronic and appliance chain will face competition in Chicago from Sears, Best Buy Company Inc. (NYSE:BBY), … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ViroPharma Seals DuoCort Purchase

Posted: 16 Nov 2011 06:30 AM PST

ViroPharma, Inc. (NASDAQ:VPHM) recently announced the completion of the acquisition of Swedish pharma company, DuoCort Pharma AB, following the European approval of Plenadren for the treatment of adrenal insufficiency in adults. We were expecting the deal to close in the fourth quarter of 2011, which was largely dependant on the European approval of Plenadren.
ViroPharma had agreed to acquire DuoCort Pharma in October, for which it made an upfront payment of $33.6 million. Additionally, DuoCort … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RadioShack Suffered A Setback

Posted: 16 Nov 2011 06:21 AM PST

Yesterday, RadioShack Corp. (NYSE:RSH) suffered a setback as Standard & Poor's Ratings Services (S&P) downgraded the company's credit rating by one notch. S&P downgraded the corporate credit rating of RadioShack from BB to BB-. This rating assignment is in the junk territory of S&P and three notches below the rating agency's investment grade territory.  The primary reason of this downgrade, as explained by S&P, is its expectation that weak operating performance of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Drama Tempers Good U.S. Reports

Posted: 16 Nov 2011 06:11 AM PST

Europe remains in focus again, diverting attention from a host of U.S. economic releases. Yields on Italian government bonds remain in dangerous territory despite intervention by the European Central Bank. In fact, bond yields have been trending up in all of the European markets outside of Germany, heightening concerns about the crisis and distracting attention from the favorable economic readings on the U.S. front.
Among this morning’s key U.S. economic reports, the October CPI … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Saks Beats On Bottom Line

Posted: 16 Nov 2011 06:11 AM PST

Saks Incorporated (NYSE:SKS) delivered better-than-expected third-quarter 2011 earnings of 11 cents per share, surpassing the Zacks Consensus Estimate by 2 cents. The results also exceeded the earnings of 6 cents per share in the year-ago quarter, driven by robust operating performance, strong same-store sales growth and gross margin expansion.
Including one-time items of 14 cents per share, Saks generated earnings of 20 cents a share in the prior-year quarter.
Revenue and Margins
Net sales for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Autodesk, AMR, Dell, Home Depot, Hewlett-Packard Company, International Business Machines, Netlist, Riverbed Technology, Staples, Wal-Mart Stores

Posted: 16 Nov 2011 06:11 AM PST

    Share prices of Netlist Inc. (NASDAQ:NLST) rocketed up 21.28% a day after the company said it has signed a business agreement with Hewlett-Packard Co. (NYSE:HPQ) and IBM Corp (NYSE:IBM)

    Credit rating agency Fitch Ratings said it will cut debt ratings of AMR Corporation (NYSE:AMR) if the management of American Airlines and pilots do not urgently conclude a contract agreement. Following the development, shares of AMR Corp plummeted 10.28% to close the day at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests Resistance Area

Posted: 16 Nov 2011 06:05 AM PST

 The EURUSD is bouncing higher as the market awaits the cabinet announcement of Italian Monti.
The pair has resistance at the 1.3493-1.3505 where the 38.2% and 50% of the last sharp move to the downside is found.  The pair on the hourly is currently above the 1.3487 level which is the channel trendline (see chart above). A move back below this level will be needed to satisfy the intraday traders.
For the week, the trend is down. The high was reached on Sunday night in NY (in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Confined In A Narrow Up And Down Range. Looking For A Direction

Posted: 16 Nov 2011 06:05 AM PST

The GBPUSD is in a confined but up and down range today. The high to low range is 82 pips  This comes after the sharp move down on Monday and Tuesday which took the price from a high of 1.6089 to the low today of 1.5744 (354 pips).  
When the market consolidates and has some up and down volatility, the market is not sure of the next move. Does it want to correct further to the upside, continue the trend down or stay in the range.
Looking at the 5 minute chart below, the 1.5753 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dick’s Beats EPS, Ups Guidance

Posted: 16 Nov 2011 05:51 AM PST

Dick’s Sporting Goods Inc. (NYSE:DKS), a full-line sporting goods retailer, continues to deliver better-than-expected results on the back of increased sales resulting from opening of new stores and improved margins.
The company's third-quarter 2011 adjusted earnings jumped 45.5% to 32 cents a share from the year-ago level of 22 cents a share, comfortably outpacing its earnings guidance range of 24 cents to 26 cents a share. Dick's also came ahead of the Zacks Consensus Estimate of 26 cents.
On … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chart Of The Day: Gas Prices In Europe Vs. USA

Posted: 16 Nov 2011 05:45 AM PST

From Business Insider.

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

VirtualScopics Beats By A Whisker

Posted: 16 Nov 2011 05:35 AM PST

Medical imaging solutions provider VirtualScopics' (NASDAQ:VSCP) third-quarter 2011 earnings of 2 cents a share beat the Zacks Consensus Estimate by a penny while matching the year-ago earnings. The New York-based company's net income (attributable to common stockholders) clipped roughly 10.5% year over year to $562,926.
The bottom line was hit by lower revenues which fell 9% year over year to $3.27 million. The company noted that sales were impacted by the slow ramp-up of some clinical studies … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Concur Loss From Triplt Effect

Posted: 16 Nov 2011 05:20 AM PST

Concur Technologies (NASDAQ:CNQR) released its fourth-quarter and fiscal 2011 earnings results, reporting fourth-quarter loss per share from continuing operations of 26 cents, below the Zacks Consensus Estimate of earnings per share of 16 cents.  Prior-year earnings from continuing operation were 6 cents. The decrease in earnings in the quarter was attributable to the accounting impacts of acquisition of TripIt in January 2011.
For fiscal 2011, net loss per share was 20 cents, below the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Extends Gains As Italy Woes Weigh On Euro

Posted: 16 Nov 2011 05:13 AM PST

Forexpros – The U.S. dollar added to early gains against its major counterparts on Wednesday, as Italian 10-year bond yields remained close to the 7% threshold widely seen as unsustainable, despite purchasing by the European Central Bank.

During European afternoon trade, the dollar was up against the euro, with EUR/USD shedding 0.37% to hit 1.3492.

The euro remained under pressure after Italian lender Unicredit said it would ask the ECB to extend its access to funding, fuelling concerns … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cotton Futures Hover Close To 3-week High On Chinese Demand

Posted: 16 Nov 2011 05:08 AM PST

Forexpros – Cotton futures were up for a third day on Wednesday, trading close to the previous session's three-week high amid indications fiber demand from top consumer China will remain strong in the near-term.

On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD1.0405 a pound during European afternoon trade, jumping 1.38%.

It earlier rose by as much as 1.89% to trade at USD1.0434 a pound, the highest price since October 31.

The U.S. Department of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EZCORP Posts Encouraging 4Q

Posted: 16 Nov 2011 05:05 AM PST

EZCORP Inc.(NASDAQ:EZPW), the second largest operator of pawn stores in the United States, reported fourth quarter 2011 earnings of 72 cents per share, surpassing the Zacks Consensus Estimate of 70 cents and 28.6% higher than the year-ago level. Results reflect strong performance across all the company's business segments.
Total revenue for the quarter under review increased 18% year over year to $234.1 million, backed by 8% same-store sales growth.
The company's full-year adjusted earnings per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Mixed On Debt Concerns; DAX Down 0.76%

Posted: 16 Nov 2011 04:49 AM PST

Forexpros – European stock markets were mixed on Wednesday, as investors remained concerned over the debt crisis in the euro zone as Italian borrowing costs remained close to the 7% threshold.

During European afternoon trade, the EURO STOXX 50 eased up 0.09%, France's CAC 40 advanced 0.01%, while Germany's DAX 30 fell 0.76%.

Market sentiment slightly improved as the European Central Bank eased pressure on regional bond markets by buying Spanish and Italian government debt.

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

Forex – EUR/JPY Close To 5-week Low On Debt Concerns

Posted: 16 Nov 2011 04:29 AM PST

Forexpros – The euro was trading close to a five-week low against the yen on Wednesday, as ongoing worries over potential debt contagion in the euro zone dampened demand for the single currency.

EUR/JPY hit 103.41 during European afternoon trade, the pair’s lowest since October 10; the pair subsequently consolidated at 103.91, shedding 0.36%.

The pair was likely to find support at 102.72, the low of October 10 and resistance at 104.92, the high of September 29.

The euro found support as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Lower Amid E.Z. Debt Fears; Dow Jones Down 0.71%

Posted: 16 Nov 2011 04:08 AM PST

Forexpros – U.S. stock futures pointed to a lower open on Wednesday, as sustained concerns over the euro zone’s worsening debt crisis continued to weigh on market sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a drop of 0.71%, S&P 500 futures signaled a 0.94% fall, while the Nasdaq 100 futures indicated a 0.61% decline.

Earlier in the day, Italian 10-year bond yields fell back to 6.9%, having risen above the 7% threshold which was widely viewed as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Lower Against Pound In Choppy Trade

Posted: 16 Nov 2011 03:53 AM PST

Forexpros – The euro was lower against the pound in choppy trade on Wednesday, as concerns over the debt crisis in the euro zone weighed but the pound remained under pressure after the Bank of England cut inflation and growth forecasts.

EUR/GBP hit 0.8520 during European late morning trade, the session low; the pair subsequently consolidated at 0.8536, shedding 0.25%.

The pair was likely to find support at 0.8499, the low of November 9 and resistance at 0.8574, Tuesday's high.

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

Corn Futures Decline After Japan Purchases Ukraine Supplies

Posted: 16 Nov 2011 03:38 AM PST

Forexpros – Corn futures declined on Wednesday, giving back some of the previous day's gains as increasing competition for U.S. corn exports and lingering concerns over the euro zone's debt crisis drove prices lower.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD6.3963 a bushel during European morning trade, slumping 0.77%.

It earlier fell by as much as 0.92% to trade at a daily low of USD6.3863 a bushel.

Corn prices came under pressure after Japan … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Finds Support, Eases Off 5-week Low

Posted: 16 Nov 2011 03:30 AM PST

Forexpros – The euro eased against the U.S. dollar on Wednesday, finding support as the European Central Bank bought Spanish and Italian government debt easing pressure on rising borrowing costs.

EUR/USD pulled back from 1.3430, the pair’s lowest since October 10 to hit 1.3473 during European morning trade, still down 0.49%.

The pair was likely to find support at 1.3377, the low of October 10 and resistance at 1.3600, the high of September 30.

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

Forex – GBP/USD Hits 1-month Low After BoE Inflation Report

Posted: 16 Nov 2011 03:07 AM PST

Forexpros – The pound extended losses against the U.S. dollar on Wednesday, falling to a one-month low after the Bank of England cut its short-term growth forecast and said further economic stimulus may be necessary as the global economic outlook deteriorates.

GBP/USD hit 1.5745 during European late morning trade, the pair's lowest since October 20; the pair subsequently consolidated at 1.5761, shedding 0.38%.

Cable was likely to find support at 1.5680, the low of October 20 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Trims Gains Amid Sustained E.Z. Worries

Posted: 16 Nov 2011 02:50 AM PST

Forexpros – The U.S. dollar trimmed gains against the Swiss franc on Wednesday, as the European Central Bank supported euro zone bond markets by buying Italian and Spanish government debt.

USD/CHF pulled back from 0.9224, the pair’s highest since October 10 to hit 0.9166 during European morning trade, still up 0.18%.

The pair was likely to find support at 0.9017, the low of November 10 and resistance at 0.9272, the high of October 10.

The Swissie found support as Italian government … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Futures Trim Losses After Italian, Spanish Yields Drop

Posted: 16 Nov 2011 02:38 AM PST

Forexpros – Copper futures trimmed losses on Wednesday, bouncing off a four-day low as a drop in Italian and Spanish bond yields helped boost market sentiment.

On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.473 a pound during European morning trade, shedding 0.8%.

It earlier tumbled by as much as 1.9% to trade at USD3.431 a pound, the lowest price since November 11.

Copper futures came off their lows after Italian government … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Zone CPI Holds Steady In Line With Expectations

Posted: 16 Nov 2011 02:05 AM PST

Forexpros – Consumer price inflation in the euro zone was unchanged in October, broadly in line with expectations, official data showed on Wednesday.

In a report, Eurostat said consumer price inflation held steady at 3.0% in October, unchanged from the previous month and broadly in line with market expectations.

Month-on-month, CPI rose 0.3%, in line with expectations.

Core CPI, which excludes food, energy, alcohol, and tobacco costs, was also unchanged, holding steady at a seasonally … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher As Euro Zone Concerns Persist

Posted: 16 Nov 2011 02:01 AM PST

Forexpros – The U.S. dollar remained broadly higher against its major counterparts on Wednesday, as uncertainty over the ongoing debt crisis in the euro zone weighed but the euro found support as the European Central Bank bought Spanish and Italian debt.

During European morning trade, the dollar was slightly higher against the euro, with EUR/USD slipping 0.12% to hit 1.3523.

The euro found support as Italian government borrowing costs eased back below the 7% threshold, a level widely viewed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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