Tuesday, November 8, 2011

DailyMarkets.com - Kinross Posts Strong 3Q Results

DailyMarkets.com - Kinross Posts Strong 3Q Results

Kinross Posts Strong 3Q Results

Posted: 08 Nov 2011 08:05 AM PST

Gold miner Kinross Gold Corporation (NYSE:KGC) reported an adjusted net income of $273.4 million or 24 cents per share in the third quarter of 2011, above last year's $116.8 million or 15 cents per share, outpacing the Zacks Consensus Estimate 21 cents per share.
GAAP net earnings were $212.6 million or 19 cents per share in the third quarter of 2011 compared with $540.9 million, or 71 cents per share in the prior-year quarter.
Quarterly revenues leaped 45% to $1,069.2 million, due to an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Loss Widens At Louisiana-Pacific

Posted: 08 Nov 2011 07:50 AM PST

Louisiana-Pacific Corporation (NYSE:LPX) reported a loss of $59 million or 44 cents per share from continuing operations in the third quarter of 2011, much wider than the loss of $31 million or 23 cents per share in the year-ago quarter.
The third quarter results included an after-tax non-cash charge of $38 million or 28 cents per share related to the impairment of Louisiana-Pacific's laminated strand lumber (LSL) facility. Excluding the charge, the company's loss stood at $21 million or 16 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed 3Q For Mack-Cali

Posted: 08 Nov 2011 07:30 AM PST

Mack-Cali Realty Corp. (CLI) reported FFO (fund from operations) of $72.9 million or 73 cents per share in the third quarter of 2011, up considerably from $64.2 million or 69 cents per share in the year-earlier quarter.
Funds 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. FFO per share in the quarter beat the Zacks Consensus Estimate by 6 cents.
Total revenue was $177.2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Breaks Above Trendline For 2nd Time Today

Posted: 08 Nov 2011 07:28 AM PST

The GBPUSD failed on a break above topside trendline earlier today. The second move through is showing more support of the break and the pair is trading at new day highs. 
The 61.8% of the move down from the August high comes in at the 1.6102 level. This level is being tested at the moment.  Above that level, the 200 day MA at the 1.6139 level becomes the next target for the pair (see daily chart below). The high at the end of October came in at 1.6164. This will be another target … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Stops Triggered And The Pair Falls

Posted: 08 Nov 2011 07:28 AM PST

Osiris Beats Zacks Consensus

Posted: 08 Nov 2011 07:20 AM PST

Osiris Therapeutics Inc. (NASDAQ:OSIR) reported third quarter earnings of 12 cents per share, a couple of cents above the Zacks Consensus Estimate but 14.3% below the year-ago earnings.
Revenues for the quarter came in at $10.6 million, above the Zacks Consensus Estimate of $10 million and just shy of the year-ago revenues of $10.8 million.
Quarterly Highlights
Third quarter 2011 revenues included the recognition of $10 million under the company's agreement with Genzyme, now a part of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Macerich Ahead Of Estimates

Posted: 08 Nov 2011 07:10 AM PST

Macerich Co. (MAC) reported third quarter 2011 FFO (fund from operations) of $104.2 million or 73 cents per share compared with $93.3 million or 66 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.
Adjusted FFO in the reported quarter stood at 75 cents per share versus 66 cents in the year-ago quarter. FFO growth in the third … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Extend Rally As Markets Eye Italy, IAEA Report

Posted: 08 Nov 2011 06:53 AM PST

Forexpros – Crude oil futures added to gains on Tuesday, rallying to a fresh three-month high as markets awaited the outcome a critical Italian parliamentary vote, while mounting concerns over the possibility of a supply disruption from Iran also provided support.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD96.53 a barrel during U.S. morning trade, jumping 1.05%.

It earlier rose by as much as 1.25% to trade at USD96.86 a barrel, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MarkWest Misses EPS, Beats Rev

Posted: 08 Nov 2011 06:50 AM PST

Pipeline operator MarkWest Energy Partners L.P. (NYSE:MWE) generated profit per unit (excluding marked-to-market derivative loss and compensation expense) of 35 cents in the third quarter of 2011, lagging the Zacks Consensus Estimate of 42 cents. The results declined 25.5% from 47 cents per unit earned on an adjusted basis in the year-earlier quarter.
Quarterly revenue came in at $507.8 million, up 98.8% from third quarter 2010 and ahead of our $367.0 million projection. The quarter's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Ready To Heat Up As Europe Melts Down?

Posted: 08 Nov 2011 06:45 AM PST

Tuesday, November 8, 2011
Gold futures have quietly been moving higher in recent weeks. The precious metal has taken a back seat to commodities that have been moving sharply, such as energies and base metals. European concerns seemed to thrust themselves into the spotlight just as traders began diverting their attention to other areas of the world economy. Technically, the December Gold contract appears to be heading into an area of resistance, which could slow prices in the near-term. Gold … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Shows Bullish Tendencies But Action Choppy. 1.3830 Are The Next Target For The Pair.

Posted: 08 Nov 2011 06:45 AM PST

There is a report that Greeks have decided on Papademos will be the new PM , taking over for the maligned Papendreuou.  The new leader would head a coalition government which it is hoped would allow more to be done.   The EURUSD seems to be applauding the move as the pair has moved to new highs in the last few minutes of trading.
From a technical perspective, the price is higher on the day and above key technical levels like the downward sloping trendline, the 100 hour … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Higher As Markets Eye Italy

Posted: 08 Nov 2011 06:36 AM PST

Forexpros – The U.S. dollar advanced against its Canadian counterpart on Tuesday, as ongoing concerns over the outcome of a key budget vote in Italy weighed on demand for riskier assets.

USD/CAD hit 1.0182 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.0145, rising 0.19%.

The pair was likely to find support at 1.0052, the low of November 3 and resistance at 1.0245, the high of October 20.

Investors remained cautious as Italian Prime Minister Silvio … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DTS Inc. Reports Lackluster 3Q

Posted: 08 Nov 2011 06:30 AM PST

DTS Inc. (NASDAQ:DTSI) reported third quarter 2011 earnings (excluding amortization but including stock-based compensation) of 15 cents per share, below the Zacks Consensus Estimate of 18 cents. On a year-over-year basis, earnings went down 16.7%.
Operational Performance
Gross Profit (excluding amortization but including stock-based compensation) for the quarter fell 2.0% from the year-ago quarter to $20.5 million. Gross margin was 99.9% versus 99.3% in the third quarter last year.
Operating income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Italian Vote Of Confidence On Tap; EUR/USD Gains On Hope Berlusconi Goes

Posted: 08 Nov 2011 06:28 AM PST

Fundamental Headlines
• EU to Start Rescue Fund Next Month, Press Greece – Bloomberg
• Credit Suisse Asked to Hand over U.S. Client Data – Reuters
• ECB: Debt Crisis Doesn't Threaten Euro – WSJ
• Greece Expected to Name Papademos Prime Minister – WSJ
• Key Berlusconi Ally Removes Support – WSJ
European Session Summary
Markets were relatively quiet in the overnight as the major currencies were relatively unchanged across the board headed into trading in New York. Throughout … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Loss Shrinks At AMAG, CEO Departs

Posted: 08 Nov 2011 06:26 AM PST

AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) posted a loss of 78 cents per share during the third quarter of 2011, narrower than the Zacks Consensus Estimate of a loss of $1.00 per share as well as the year-ago loss of 81 cents per share. The narrower loss was due to lower-than-expected operating expenses. AMAG also announced a broad restructuring plan to reduce operating expenses and the departure of its CEO Dr. Pereira. Management is evaluating all strategic alternatives for the company, including a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Europe Issue Not Going Away

Posted: 08 Nov 2011 06:26 AM PST

With the third quarter reporting season largely over and nothing major on the domestic economic calendar, stock market movements today will effectively reflect developments on the European front. The focus remains on Italy, where a routine budget vote in parliament has the potential to morph into a confidence vote on the government of prime minister Silvio Berlusconi. The market is rooting for Mr. Berlusconi’s departure, but he appears in no mood to quit on his own.

By its sheer size, Italy is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vivus Posts Narrower Loss

Posted: 08 Nov 2011 06:11 AM PST

Vivus Inc. (NASDAQ:VVUS) posted a loss of 10 cents per share during the third quarter 2011, narrower than the Zacks Consensus Estimate of a loss of 12 cents and the year-ago loss of 22 cents per share. Lower research and development (R&D) expenses led to the narrower loss.
The company did not record any revenues during the quarter, similar to the prior-year quarter.
Quarterly Details
During the quarter, R&D expenses decreased 63.0% to $3.7 million. Moreover, general and administrative … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: American Dental Partners, Amgen, CBRL Group, CVS, Dreamworks Animation SKG, Eagle Rock Energy Partners, L.P., Force Protection, General Dynamics, Tekelec

Posted: 08 Nov 2011 06:11 AM PST

    Share prices of dental services provider American Dental Partners, Inc. (NASDAQ:ADPI) rocketed up 79% to close at $18.58 after the company announced that it has agreed to be bought by JLL Partners Inc for $19 a share

    Amgen, Inc.'s  (NASDAQ:AMGN) share prices increased 5.91% after the biotech company announced its decision to buy back nearly $5 billion of its own stock

    Restaurant chain operator Cracker Barrel Old Country Store Inc … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Almost Unchanged Ahead Of Italy Vote

Posted: 08 Nov 2011 05:52 AM PST

Forexpros – The euro was steady against the yen on Tuesday, as investors awaited the results of a key budget vote in Italy amid growing pressure for Prime Minister Silvio Berlusconi to resign.

EUR/JPY hit 107.12 during European afternoon trade, the daily low; the pair subsequently consolidated at 104.48, inching down 0.02%.

The pair was likely to find support at 106.48, the low of November 1 and resistance at 109.02, the high of September 8.

Italian Prime Minister Silvio Berlusconi's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Priceline Shares Up On Solid Results

Posted: 08 Nov 2011 05:50 AM PST

Priceline.com Inc (NASDAQ:PCLN) beat the Zacks Consensus in the last quarter, coming in 32 cents, or 3.5% higher. Shares jumped $13.48 (2.65%) in after-hours trading, more than making up for the 85-cent decline during the day.
The results are a reflection of a recovery in demand, especially for hotel and rental car bookings.
Revenue
Priceline reported revenue of $1.45 billion in the quarter, representing sequential and year-over-year increases of 31.7% and 45.0%. This was better than management's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cotton Futures Slump To 3-month Low Amid Demand Concerns

Posted: 08 Nov 2011 05:39 AM PST

Forexpros – Cotton futures extended sharp losses from the previous session on Tuesday to trade at the lowest level since early August, after data showed that U.S. export sales tumbled last week, while the U.S. cotton harvest continued to improve.

On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.9605 a pound during European afternoon trade, dropping 0.74%.

It earlier fell by as much as 0.85% to trade at USD0.9601 a pound, the lowest price since August … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hologic Beats Estimates

Posted: 08 Nov 2011 05:30 AM PST

Hologic (NASDAQ:HOLX) reported an adjusted EPS of 34 cents during the fourth quarter of fiscal 2011, a penny above the Zacks Consensus Estimate and 4 cents above the year-ago figure. Revenues were $467 million, an increase of 9% year over year and higher than the Zacks Consensus Estimate of $458 million. For fiscal 2011, revenues increased 6.5% to $1789.3 million resulting in an adjusted EPS of $1.26 compared with $1.18 in fiscal 2010 and a penny above the Zacks Consensus Estimate.
Segments
Hologic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IRS Data From 1992-2008 On The Top 400 Show Significant Turnover: 73% Remain For Only 1 Year

Posted: 08 Nov 2011 05:25 AM PST

In Table 4 of the IRS bulletin “The 400 Individual Income Tax Returns, 1992-2008,” they report the “Frequency of Appearing in the Top 400 Tax Returns for Tax Years 1992-2008.” 

Over the 17 tax years between 1992 and 2008, there were a total of 6,800 tax returns analyzed (400 per year), and because some individuals appeared in the top 400 for more than one year, there were 3,672 unique taxpayers.  Here is what the IRS found about the ever-changing group of the top 400 taxpayers:

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

WellPoint Stays ‘Outperformer’

Posted: 08 Nov 2011 05:21 AM PST

We reiterate our Outperform recommendation on WellPoint Inc. (NYSE:WLP) based on the company's top- and bottom-line growth in the third quarter of 2011 coupled with improved earnings outlook for 2011.
WellPoint reported third-quarter 2011 operating earnings of $1.77 per share, striding ahead of the Zacks Consensus Estimate of $1.69 per share. Results were also 1.7% higher than $1.74 earned in the year-ago quarter.
WellPoint has been witnessing substantial earnings growth over the past few … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian Housing Starts Fall Less-than-expected

Posted: 08 Nov 2011 05:20 AM PST

Forexpros – Canadian housing starts fell less-than-expected in October, official data showed on Tuesday.

In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 208,000 units in October, beating expectations for a decline to 200,000 units.

September's figure was revised up to 209,000 units from a previously reported 208,000.

Commenting on the report, deputy chief economist at CMHC's Market Analysis Centre Mathieu … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Higher With Italy In Focus; DAX Jumps 2.42%

Posted: 08 Nov 2011 05:18 AM PST

Forexpros – European stock markets remained sharply higher on Tuesday, led by strong gains in the financial sector as markets continued to focus on Italy’s key budget vote.

During European morning trade, the EURO STOXX 50 climbed 2.53%, France's CAC 40 advanced 2.24%, while Germany's DAX 30 jumped 2.42%.

Italian Prime Minister Silvio Berlusconi's government was to face a crunch vote, which would test the prime ministers majority in parliament and determine if he has enough support to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DryShips Beats, Drilling Unit Soars

Posted: 08 Nov 2011 05:05 AM PST

Yesterday after market close, DryShips Inc. (NASDAQ:DRYS) declared financial results for the third quarter of 2011. Though DryShips' legacy drybulk shipping cargo division and newly formed oil tanker division continue their pathetic performances, it is the company's majority owned deepwater oil drilling unit Ocean Rig UDW, which helped DryShips beat the Zacks Consensus Estimates.
The drybulk shipping and oil tanker division suffered significantly from the industry's oversupply of fleets, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Steady Vs. Rivals Ahead Of Italian Budget Vote

Posted: 08 Nov 2011 04:45 AM PST

Forexpros – The U.S. dollar was steady against most of its major counterparts on Tuesday, as markets eyed the outcome of a critical Italian vote on fiscal reforms, while embattled Italian Prime Minister Silvio Berlusconi faced calls to step down.

During European afternoon trade, the dollar was slightly lower against the euro, with EUR/USD edging up 0.11% to hit 1.3789.

Italian Prime Minister Silvio Berlusconi's government was to face a key vote on fiscal reforms, in what was being seen as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Almost Unchanged As Italy Vote Eyed

Posted: 08 Nov 2011 04:34 AM PST

Forexpros – The pound was almost unchanged against the U.S. dollar on Tuesday, amid uncertainty over whether Italy's parliament would pass a critical vote on budget reforms as Prime Minister Silvio Berlusconi faced pressure to resign.

GBP/USD hit 1.6100 during European afternoon trade, the session high; the pair subsequently consolidated at 1.6059, inching up 0.03%.

Cable was likely to find support at 1.5945, last Friday's low and resistance at 1.6151, the high of October 28.

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

U.S. Futures Advance As Markets Eye Italy; Dow Jones Up 0.43%

Posted: 08 Nov 2011 04:21 AM PST

Forexpros – U.S. stock futures advanced on Tuesday, boosted by gains in energy stocks as investors awaited the results of a crucial parliamentary vote in Italy.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.43%, S&P 500 futures signaled a 0.39% increase, while the Nasdaq 100 futures indicated a 0.62% gain.

Italian Prime Minister Silvio Berlusconi's government was to face a crunch vote, which would test the prime ministers majority in parliament and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Lower Ahead Of Italian Budget Vote

Posted: 08 Nov 2011 04:04 AM PST

Forexpros – The euro was slightly lower against the U.S. dollar on Tuesday, trading in a narrow range as investors anxiously awaited the outcome of an Italian vote on budget reforms, while Italian Prime Minister Silvio Berlusconi resisted calls to step down.

EUR/USD hit 1.3725 during European early afternoon trade, the daily low; the pair subsequently consolidated at 1.3761, slipping 0.10%.

The pair was likely to find support at 1.3655, the low of November 3 and resistance at 1.3829, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Corn Futures Steady With USDA Supply Report In Focus

Posted: 08 Nov 2011 03:30 AM PST

Forexpros – Corn futures fluctuated between small gains and losses on Tuesday, amid improving U.S. corn crop harvest conditions and as traders squared positions ahead of Wednesday's key monthly report on U.S. and global corn supplies.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD6.5425 a bushel during European morning trade, easing up 0.1%.

The December contract traded between a range of USD6.5212 a bushel, the daily low and USD6.5512, the daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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