Wednesday, November 23, 2011

DailyMarkets.com - Mylan Settles With Novartis

DailyMarkets.com - Mylan Settles With Novartis

Mylan Settles With Novartis

Posted: 23 Nov 2011 08:05 AM PST

Mylan, Inc. (NYSE:MYL) recently announced a settlement agreement with Novartis (NYSE:NVS) relating to the generic version of Novartis' bioidentical estrogen therapy Vivelle-Dot. As a result of the resolution, the lawsuit filed by Novartis will be dismissed and Mylan can launch a generic version of Vivelle-Dot on December 16, 2013, or earlier under certain circumstances.
Mylan was the first to file an abbreviated new drug application (ANDA) with the US Food & Drug Administration (FDA) to market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Second Blow To AT&T/T-Mobile Merger

Posted: 23 Nov 2011 07:50 AM PST

AT&T Inc.'s (NYSE:T) proposed $39 billion purchase of Deutsche Telekom's unit, T-Mobile USA, is facing another setback following opposition from the Federal Communications Commission (FCC).
Earlier in August, the Department of Justice blocked the proposed merger and filed an antitrust lawsuit with the U.S. District Court in Washington. The trial is expected to start on February 13. Now, the FCC is seeking to send the proposal to the administrative law judge for hearing, which is expected … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bears In Control As Natural Gas Makes New Lows!

Posted: 23 Nov 2011 07:37 AM PST

Wednesday, November 23, 2011
Though the longer-term prospects for Natural gas appear brighter, in the near-term, there is still a huge supply of Gas in storage and ample production levels. Some traders who anticipate near-term gas prices to remain weak may possibly wish to explore bear spreads in Natural Gas futures. For example, February 2012 Natural Gas is trading at a 0.015 premium to the January 2012 futures. Traders who choose to implement a bear spread would buy the more deferred contract … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests 38.2% Of The Last Leg Down At 1.34129

Posted: 23 Nov 2011 07:36 AM PST

Schlumberger Balances Risk, Reward

Posted: 23 Nov 2011 07:35 AM PST

We maintain our Neutral rating on Schlumberger Limited (NYSE:SLB), a leading oilfield services company, providing technology, project management and information services to the global oil and gas industry.
Schlumberger registered a string of high profile exploration successes of late in areas like French Guyana, Northern West Africa, East Africa and Norway. We see these as boding well for Schlumberger's seismic and geophysical offerings.
Although third quarter results were adversely affected by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&W Seed Leases More Farmland

Posted: 23 Nov 2011 07:25 AM PST

S&W Seed leases more farmland
Ian Gilson, CFA

S&W Seed (SANW) announced on November 22, 2011 that it has leased 1,500 acres of farmland in Madera County, California. Part of the land just leased (450 acres) is currently producing S&W proprietary seeds. The company now has 2,300 acres under lease, 1,700 of which will be used to produce alfalfa seeds for sale in calendar 2012.

Over the past three years the demand for alfalfa hay has fluctuated as cattle herds have shrunk and other … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Giving Thanks For Capitalism, The Invisible Hand, The Miracle Of The Market, And No Turkey Czars

Posted: 23 Nov 2011 07:25 AM PST

Like in previous years, you probably didn’t call your local supermarket ahead of time and order your Thanksgiving turkey this year. Why not? Because you automatically assumed that a turkey would be there when you showed up, and it probably was there when you showed up “unannounced” at your local grocery store to select your bird.

The reason your Thanksgiving turkey was waiting for you without an advance order? Because of “spontaneous order,” “self-interest,” and the “invisible hand” of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ACE Boosts Shareholders’ Return (revised)

Posted: 23 Nov 2011 07:20 AM PST

In a concerted effort to enhance shareholders value, ACE Limited (NYSE:ACE) intends to substantially boost its dividend. The board of directors will propose a 33% increase in the quarterly dividend at the extraordinary general meeting scheduled on January 9, 2012.
ACE Limited, if approved, will now pay a quarterly dividend of 47 cents ($1.88 on an annualized basis), up from 35 cents ($1.40 on an annualized basis). Previously, in February 2011, the board, announced a 6.5% increase in the quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hologic To Showcase Product Line-up

Posted: 23 Nov 2011 07:20 AM PST

Hologic (NASDAQ:HOLX), a leading player in the women's healthcare market, plans to showcase some of its latest products at the 97th Scientific Assembly and Annual Meeting of the Radiological Society of North America, starting November 26 to December 2, 2011 in Chicago.
The products to be featured include three-dimensional (3D) Mammography (breast tomosynthesis) for breast cancer screening and diagnosis; Breast Biopsy Devices, which are designed to offer radiologists swift and efficient system … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Michigan Consumer Sentiment Index Declines Unexpectedly

Posted: 23 Nov 2011 07:02 AM PST

Forexpros – Consumer sentiment in the U.S. fell unexpectedly in November, official data showed on Wednesday.

In a report, the University of Michigan’s said its index of overall consumer sentiment fell by 0.1 points to 64.1 in November, down from a preliminary estimate of 64.2.

Analysts had expected the index to rise by 0.3 points to 64.5 in November.

The Michigan consumer sentiment index stood at 60.9 in October.

The index of inflation expectations held steady at 3.2% in November, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Highwoods Wins Life Point Deal

Posted: 23 Nov 2011 07:00 AM PST

Highwoods Properties Inc. (HIW) recently announced that it has secured a contract from Life Point Hospitals Inc. (LPNT) to develop its new corporate headquarters in the Brentwood submarket of Nashville. As per the terms of the deal, Highwoods will build a Class A office building for Life Point, spanning 203,000 square foot for approximately $48.4 million. The company expects to complete the construction by the end of 2013.
The to-be constructed building will be 100% pre-leased by Life Point, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pfizer Signs Another Deal

Posted: 23 Nov 2011 06:55 AM PST

Pfizer Inc. (NYSE:PFE) recently announced its intention to acquire privately-owned biopharmaceutical company Excaliard Pharmaceuticals, Inc. With this acquisition, Pfizer will add a mid-stage candidate for the treatment of skin scarring to its pipeline.
Terms of the Agreement
While financial details of the agreement were not disclosed, Pfizer said that it will make an upfront payment to Excaliard. Pfizer will also make contingent payments on the achievement of certain milestones. The acquisition … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Hits 5-week High In Risk-off Trade

Posted: 23 Nov 2011 06:47 AM PST

Forexpros – The U.S. dollar rose to a five-week high against its Canadian counterpart on Wednesday, as concerns over the deepening crisis in the euro zone and lackluster U.S. data clouded the outlook for riskier assets.

USD/CAD hit 1.0454 during early U.S. trade, the pair's highest since October 6; the pair subsequently consolidated at 1.0435, gaining 0.51%.

The pair was likely to find support at 1.0345, Tuesday's low and resistance at 1.0570, the high of October 6.

Earlier in the day, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Weaken As Stronger Dollar Weighs

Posted: 23 Nov 2011 06:44 AM PST

Forexpros – Gold futures turned lower on Wednesday, erasing earlier gains as fears that the euro zone's sovereign debt crisis was worsening prompted investors to sell their gold positions to raise liquidity and cover losses elsewhere.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,692.75 a troy ounce during early U.S. morning trade, declining 0.57%.

It earlier fell by as much as 0.87% to trade at a daily low of USD1,685.35 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JA Solar Bleeds, Trims Outlook

Posted: 23 Nov 2011 06:35 AM PST

JA Solar Holdings Co. Ltd. (NASDAQ:JASO) announced a loss per American Depositary Share (EPADS) of 36 cents in its third quarter of 2011, which came way below the Zacks Consensus Estimate of a 2-cent loss. In the year-ago quarter the company clocked earnings per ADS of 50 cents.
Quarterly Performance
JA Solar's revenues in the reported quarter were $388 million, ahead of the Zacks Consensus Estimate of $378 million. However revenues fell 7.3% compared to $418.5 million in the second quarter of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Deere Q4 Earnings Hit Record On Strong Sales

Posted: 23 Nov 2011 06:30 AM PST

Forexpros – Deere & Company (DE), the Illinois based agriculture and construction equipment manufacturer, released earnings Wednesday morning.

Deere finished the fourth quarter and 2011 financial year with record earnings and revenues.

The company's fourth quarter earnings and revenues were USD670 million and USD8.612 billion respectively. For the year, earnings and revenues were also impressive, coming in at USD2.8 billion and USD32.0 billion respectively.

For the same period last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Cornucopia Of Data

Posted: 23 Nov 2011 06:20 AM PST

Given Thursday's Thanksgiving holiday and the abbreviated trading session on Friday, a lot of major economic releases have been squeezed into today's session. And despite the overall positive tone of this morning's U.S. economic releases, the market will likely remain fixated on the negative headlines from across the pond in Europe. This effectively ensures that stocks will sustain the downtrend of the last few days in another low-volume trading session today, bucking the typical … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DFS

Posted: 23 Nov 2011 06:20 AM PST

As an extension to their current alliance and also to augment the acceptance of Discover and Diners Club card, Diners Club International, a unit of Discover Financial Services (NYSE:DFS), inked a merchant acquiring agreement with WorldPay, a leading international payment and risk service provider.
Accordingly, the Diners Club and Discover Cards will be offered as a standard payment processing option to all WorldPay merchants from early 2012. Additionally, WorldPay will start supporting … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Unchanged At 6-week Low After U.S. Data

Posted: 23 Nov 2011 06:11 AM PST

Forexpros – The euro was almost unchanged against the yen on Wednesday, trading close to a six-week low following the release of lackluster U.S. data while mounting concerns over the debt crisis in the euro zone also weighed.

EUR/JPY hit 103.27 during European afternoon trade, the pair's lowest since Monday; the pair subsequently consolidated at 103.41, shedding 0.51%.

The pair was likely to find support at 102.55, the low of October 7 and resistance at 104.11, the days high.

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

Stock Market News Briefs: Campbell Soup Company, Focus Media Holding Limited, Frontline Ltd., Medtronic, Netflix, Valspar Corporation

Posted: 23 Nov 2011 06:10 AM PST

 

    Netflix, Inc. (NASDAQ:NFLX) said that it will sell $400 million in stock and convertible notes and cautioned of a reporting loss in 2012

    Campbell Soup Co. (NYSE:CPB) posted first-quarter 2012 earnings of $0.82 per share that came in ahead of the Zacks Consensus Estimate of $0.80 per share

    Medtronic, Inc.'s (NYSE:MDT) second quarter 2012 adjusted earnings per share came in at $0.84, beating the Zacks Consensus Estimate of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Core 5 Plan Boosts Fred’s Earnings

Posted: 23 Nov 2011 06:05 AM PST

Fred’s Inc.'s (NASDAQ:FRED) third quarter 2011 adjusted earnings shot up 20% year over year to 24 cents a share. The reported earnings also surpassed the Zacks Consensus Estimate by 2 cents.
Profits were driven by the success of Core 5 program taken up by the company. The Core 5 Program is a long-term strategy designed by the company to highlight key categories within its stores. The Core 5 categories – Home, Celebration, Pet, Pharmacy and Paper and Chemical – are strong trip driving departments … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Core Durable Goods Orders Rise More-than-expected

Posted: 23 Nov 2011 05:51 AM PST

Forexpros – U.S. core durable goods orders rose more-than-expected in October, official data showed on Wednesday.

In a report, the U.S. Census Bureau said core durable goods orders, excluding transportation items, rose by a seasonally adjusted 0.7% in October, beating expectations for a modest 0.1% increase.

The previous month's figure was revised down to a decline of 0.6% from a previously reported 1.7% gain.

The report showed that durable goods orders, which include transportation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RadioShack To Underperform

Posted: 23 Nov 2011 05:50 AM PST

The nightmare of RadioShack Corp. (NYSE:RSH) persists as the company continues with its disappointing performance. The company fell below the Zacks Consensus Estimates in the third quarter of 2011. Precipitous decline of the signature and consumer electronics retail businesses, adverse product-mix toward low-margin devices, and a volatile macro-economic scenario in the U.S. are taking toll on the company's financial results. Besides, weaker than expected growth of the mobile platform and growing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Initial Jobless Claims Rise Unexpectedly

Posted: 23 Nov 2011 05:45 AM PST

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, official data showed on Wednesday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 18 rose by 2,000 to a seasonally adjusted 393,000, confounding expectations for a decline of 1,000 to 390,000.

The previous week's figure was revised up to 391,000 from 388,000, which was the lowest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Core PCE Price Index Rises Less-than-expected

Posted: 23 Nov 2011 05:40 AM PST

Forexpros – The U.S. core personal consumption expenditure index rose slightly less-than-expected in October, official data showed on Wednesday.

In a report, the Bureau of Economic Analysis said its seasonally adjusted core PCE price index rose by 0.1% in October, below expectations for a 0.2% increase and up from a flat reading in September.

The core PCE price index rose at an annualized rate of 1.7% in October, in line with expectations, after rising at a rate of 1.6% in September.

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

Chico’s Misses Estimate

Posted: 23 Nov 2011 05:35 AM PST

Chico’s FAS Inc. (NYSE:CHS) reported third-quarter 2011 earnings of 18 cents per share, missing the Zacks Consensus Estimate by couple of cents. However, the quarterly earnings increased 13% from the prior-year quarter’s earnings of 16 cents per share.
On a reported basis, including one time items, the company reported earnings of 16 cents per share.
In a separate story, Chico’s FAS announced that it has completed the acquisition of Boca Raton, Florida-based Boston Proper, a leading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing 3Q For Citi Trends

Posted: 23 Nov 2011 05:20 AM PST

Citi Trends Inc. (NASDAQ:CTRN) recently reported disappointing third-quarter 2011 results. The company’s net loss widened 12 folds to $4.9 million compared with $0.4 million in the year-ago quarter.
Adjusted net loss per share came in at 38 cents versus 3 cents in the year-ago quarter, primarily due to negative comparable store sales. Moreover, net loss was higher than the Zacks Consensus Estimate of 37 cents per share. On a reported basis, net loss per share came in at 46 cents.
During the quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Mixed After Poor German Auction; DAX Up 0.1%

Posted: 23 Nov 2011 05:19 AM PST

Forexpros – European stock markets fluctuated on Wednesday, after poor demand at a German bond auction exacerbated fears over the debt crisis in the euro zone, while some investors entered the market for bargain hunting.

During European afternoon trade, the EURO STOXX 50 shed 0.5%, France's CAC 40 fell 0.45%, while Germany's DAX 30 edged 0.1% higher.

Germany's Treasury auctioned just EUR3.64 billion of 10-year government bonds with the average yield set at 1.98% in an auction earlier. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canadian Solar Books Loss, Sales Up

Posted: 23 Nov 2011 05:05 AM PST

Canadian Solar Inc. (NASDAQ:CSIQ) reported an adjusted loss per share of 80 cents in the third quarter of 2011, compared with the Zacks Consensus Estimate of a loss of 51 cents per share.
On a reported basis, Canadian Solar incurred a loss per share of $1.02 versus an EPS of 47 cents in the year-ago period. The variance of 22 cents is due to a gain of 33 cents due to change in fair value of derivatives and a foreign exchange loss of 55 cents per share.
Operational Performance
Canadian Solar had … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Strengthens Vs. Rivals On Euro Zone Fears

Posted: 23 Nov 2011 05:02 AM PST

Forexpros – The U.S. dollar was broadly higher against its major counterparts on Wednesday, as mounting concerns over the crisis in the euro zone boosted demand for the safe haven greenback, while markets eyed a flurry of U.S. data.

During European afternoon trade, the dollar was sharply higher against the euro, with EUR/USD tumbling 0.91% to hit 1.3382.

Germany's Treasury auctioned just EUR3.64 billion of 10-year government bonds with the average yield set at 1.98% in an auction earlier. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil, Gold Likely To Fall As Euro Debt Crisis Touches Germany

Posted: 23 Nov 2011 05:01 AM PST

Talking Points

Crude Oil Anchored to Risk Trends as EU Crisis Touches Germany
Gold's Path of Least Resistance Favors Losses as US Dollar Gains

WTI Crude Oil (NY Close): $98.01 // +1.09 // +1.12%
Crude oil is under pressure amid risk aversion in the aftermath of a dismal German bond auction where the Eurozone's top economy – heretofore the sole bright spot of the region – failed to get bids for a whopping 35 percent of 10-year securities offered to investors. Lack of demand for what … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sugar Futures Fall To 5-month Low On India Export Outlook

Posted: 23 Nov 2011 04:55 AM PST

Forexpros – Sugar futures were down for a second day on Wednesday, falling to a five-month low after India approved an increase in exports, while fears over a slowdown in demand from top consumer China also weighed.

On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.2327 a pound during European afternoon trade, slumping 0.58%.

It earlier fell by as much as 0.75% to trade at USD0.2325 a pound, the lowest since June 2.

India's Industry Minister Anand Sharma … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Hits 6-week Low After Poor German Bond Sale

Posted: 23 Nov 2011 04:36 AM PST

Forexpros – The pound added to losses against the U.S. dollar on Wednesday, after poor demand at a German debt auction and weak euro zone data added to concerns over the debt crisis in the shared currency bloc, curbing risk appetite.

GBP/USD hit 1.5554 during European afternoon trade, the pair's lowest since October 12; the pair subsequently consolidated at 1.5564, shedding 0.42%.

Cable was likely to find support at 1.5421, the low of October 7 and resistance at 1.5691, Tuesday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Tumbles To 6-week Low After German Debt Auction

Posted: 23 Nov 2011 04:00 AM PST

Forexpros – The euro extended losses against the U.S. dollar on Wednesday, tumbling to a six-week low, after an auction of 10-year German government bonds met with poor demand and following a string of weak euro zone data.

EUR/USD hit 1.3374 during European early afternoon trade, the pair's lowest since October 7; the pair subsequently consolidated at 1.3389, tumbling 0.85%.

The pair was likely to find support at 1.3259, the low of October 5 and resistance at 1.3530, the days … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Lower As EZ Concerns Weigh; Dow Jones Down 0.46%

Posted: 23 Nov 2011 03:46 AM PST

Forexpros – U.S. stock futures pointed to a broadly lower open on Wednesday, as downbeat euro zone economic data and concerns over global economic growth weighed on market sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.66%, S&P 500 futures signaled a 0.77% decline, while the Nasdaq 100 futures indicated a 0.23% gain.

Earlier in the day, official data showed that manufacturing activity in the euro zone fell to its lowest level since July … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybean Futures Drop To 13-month Low As Risk Aversion Mounts

Posted: 23 Nov 2011 03:32 AM PST

Forexpros – Soybean futures were down sharply on Wednesday, trading at the lowest level in more than a year as mounting fears over the global economic outlook prompted investors to shun riskier assets.

On the Chicago Mercantile Exchange, soybean futures for January delivery traded at USD11.3562 a bushel during European morning trade, tumbling 1.51%.

It earlier fell by as much as 1.85% to trade at USD11.3438 a bushel, the lowest price since October 8, 2010.

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

Forex – USD/CHF Nears Six-week High On Euro Zone Concerns

Posted: 23 Nov 2011 03:12 AM PST

Forexpros – The U.S. dollar was trading close to a six-week high against the Swiss franc on Wednesday, as concerns over the debt crisis in the euro zone escalated after an auction of 10-year German government bonds met with poor demand and after a string of weak euro zone data.

USD/CHF hit 0.9202 during European morning trade, the pair's highest since Monday; the pair subsequently consolidated at 0.9195, rising 0.60%.

The pair was likely to find support at 0.9017, the low of November 10 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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