Thursday, November 3, 2011

DailyMarkets.com - Transocean Misses, Profit Tumbles

DailyMarkets.com - Transocean Misses, Profit Tumbles

Transocean Misses, Profit Tumbles

Posted: 03 Nov 2011 08:05 AM PDT

Offshore drilling giant Transocean Ltd. (RIG) reported weak third quarter 2011 results, hurt by the decline in utilization rates and high operating costs even as rig rates rose.
Earnings per share, excluding expenses associated with the Macondo well incident, gains from asset sales, Aker Drilling acquisition costs and other minor items, came in at 5 cents, well short of the Zacks Consensus Estimate of 75 cents and significantly behind the year-ago adjusted profit of $1.36.
Revenue
Total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tesoro Beats Overall

Posted: 03 Nov 2011 07:50 AM PDT

Independent refiner Tesoro Corporation (NYSE:TSO) came out with stellar third-quarter 2011 results, driven by higher throughput, improved margin environment and solid operational performance.
Earnings per share (excluding special items) came in at $2.39, comfortably surpassing the Zacks Consensus Estimate of $1.83 and way above the year-ago adjusted profit of 51 cents.
The company reported revenue of $8,101.0 million for the three-month period, up 52.3% from the prior-year figure of $5,320.0 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vulcan Posts Loss, Misses Estimate

Posted: 03 Nov 2011 07:35 AM PDT

Vulcan Materials Company (NYSE:VMC) reported earnings of $22 million or 17 cents per share from continuing operations in the third quarter of 2011 compared with $11 million or 8 cents per share in the prior-year quarter.
The reported quarter included benefits of $63 million or 30 cents per share, a part of which related to the sale of non-strategic aggregates facilities and the remaining from an insurance related to the Illinois lawsuit settled in the second quarter of last year.
Excluding these … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Falls Toward The Low For The Day And Finds Profit Takers. 1.3709-19 Eyed Above

Posted: 03 Nov 2011 07:31 AM PDT

The low for the day came in at the 1.36558 level. The low on the move down in the NY morning 1.36588.  Profit takers came in against the level and slowed the decline.
On the topside, the last leg to the downside took the price from 1.3792 to 1.36588. The 38.2% of that move down comes in at the 1.37097. The 200 bar MA on the 5 minute chart comes in at the 1.3719 level.  This level held support on the initial move lower.  A move above this area will disappoint the shorts who are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Retraced All The Way Back To The 100 Bar MA On The 5 Minute Chart

Posted: 03 Nov 2011 07:31 AM PDT

Fast break the other way.
The EURUSD moved above the the 1.3709 level and the 200 bar MA at the 1.3719 level and did not stop until reaching the 100 bar MA at the 1.3741 level.  Now look for support at the prior … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CenturyLink Profit Falls, Rev Ups

Posted: 03 Nov 2011 07:25 AM PDT

The third-largest U.S. landline operator CenturyLink Inc. (NYSE:CTL) has reported third quarter adjusted earnings of 34 cents per share, at par with the Zacks Consensus Estimate.
Adjusted earnings dropped a drastic 59% from the year-ago earnings of 83 cents. The downfall was due to steeper operating expenses related to Qwest and Savvis acquisitions.
Adjusted earnings per share exclude transaction and integration costs of 11 cents related to the Embarq, Qwest and Savvis acquisitions.
Total revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Integrys: EPS Meets, Revenues Miss

Posted: 03 Nov 2011 07:00 AM PDT

Integrys Energy Group Inc. (NYSE:TEG), a diversified holding company providing products and services to regulated and non-regulated energy markets, through its subsidiaries, saw its bottom line rise in the third quarter of 2011 compared to the year-ago quarter.
The upsurge was fuelled by higher margins in the retail electric markets and lower operating expenses. Integrys' adjusted earnings of 43 cents per share came in line with the Zacks Consensus Estimate and were 8 cents above 35 cents in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cotton Futures Fall To 7-day Low Amid Downbeat Outlook

Posted: 03 Nov 2011 06:55 AM PDT

Forexpros – Cotton futures were down for a fourth day on Thursday, slumping to a seven-day low after the International Cotton Advisory Committee warned of slowing global cotton demand and forecast a significant drop in prices.

On the ICE Futures U.S. Exchange, cotton futures for December delivery traded at USD0.9780 a pound during early U.S. morning trade, dropping 0.55%.

It earlier fell by as much as 0.74% to trade at USD0.9761 a pound, the lowest price since October 25.

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

Plains Surpasses Expectation In 3Q

Posted: 03 Nov 2011 06:50 AM PDT

Plains All American Pipeline, L.P. (NYSE:PAA) announced third-quarter 2011 operating earnings of $1.42 per unit, breezing past the Zacks Consensus Estimate of $1.13. The results of the partnership were also higher than 70 cents reported in the year-ago quarter.
GAAP earnings per unit in the quarter was $1.47 versus 28 cents in the third quarter of 2010.
The difference between GAAP and operating earnings during the reported quarter was due to the impact of a few one-time items. These include a 20 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Trims Losses After Surprise ECB Rate Cut

Posted: 03 Nov 2011 06:39 AM PDT

Forexpros – The U.S. dollar trimmed losses against its Canadian counterpart on Thursday, after the European Central Bank's surprise decision to cut interest rates, while political instability in Greece weighed on risk appetite.

USD/CAD pulled back from 1.0052, the pair's lowest since Tuesday, to hit 1.0113 during early U.S. trade, still down 0.22%.

The pair was likely to find support at 0.9972, Tuesday's low and resistance at 1.0215, the days high.

The ECB cut its benchmark interest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Surge After ECB Rate Cut; DAX Jumps 2.53%

Posted: 03 Nov 2011 06:32 AM PDT

Forexpros – European stock markets turned sharply higher on Thursday, after the European Central Bank unexpectedly cut its interest rate, while a potential collapse of the Greek government eased concerns over the country’s upcoming referendum.

During European afternoon trade, the EURO STOXX 50 soared 2.56%, France's CAC 40 jumped 2.49%, while Germany's DAX 30 climbed 2.53%.

The ECB lowered its interest rate to 1.25% from 1.50%, signaling new efforts to tackle the region’s debt crisis as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Stays Above Close From Yesterday At 1.3746

Posted: 03 Nov 2011 06:31 AM PDT

The last 3 five minute bars has found buyers against the close from yesterday at the 1.3746.  Moving below this level opens the door for the bears to take a run at the 100 and 200 bar MAs (so far the 200 bar MA (blue and green lines) held support) but until then the shorts may be forced to cover.
The situation in Greece is fluid and the market action suggests that the buyer and sellers are balanced – currently at least.  Although the cut is welcomed (and perhaps overdue), does it … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Greek Turmoil Dominates Headlines

Posted: 03 Nov 2011 06:30 AM PDT

We have a slew of economic and earnings reports on the docket today, but the Greek turmoil will likely continue to dominate the headlines. On the economic front, we got better-than-expected weekly Jobless Claims numbers, raising hopes for a favorable showing from Friday’s non-farm payroll report.

We also have a surprise interest rate cut from the European Central Bank, likely indicating a new monetary policy course for the central bank under Mario Draghi, who replaced Jean-Claude Trichet only … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kraft Beats, Ups Outlook

Posted: 03 Nov 2011 06:30 AM PDT

Kraft Foods Inc. (NYSE:KFT) posted third quarter 2011 operating EPS of 58 cents per share, surpassing the Zacks Consensus Estimate of 56 cents by 3.6%. It also went up 23.4% from 47 cents reported in the prior-year quarter.
Management credited the benefits of increased investments in marketing and innovation, effective advertising and focus on End-to-End Cost Management for strong results in the quarter. Operating gains, favorable foreign currency and discrete tax items also contributed to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hanesbrands Surpasses Estimates

Posted: 03 Nov 2011 06:26 AM PDT

Hanesbrands Inc. (NYSE:HBI) reported earnings per share of 91 cents for its third quarter 2011, which was 44.4% higher than the prior-year quarter. The result surpassed the Zacks Consensus Estimate of 82 cents by 10.9%.
Profits were primarily impacted by strong net price, mix of products sold, and cost control measures.
The company expects fourth-quarter net sales of $1.2 billion – $1.3 billion and diluted EPS of $0.47 – $0.57. For the full year, the company expects to generate earnings of $2.75 – … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Alvarion Ltd., ARM Holdings, Plc, Aruba Networks, Becton, Dickinson And Company, CF Industries Holdings, Cognizant Technology Solutions, Kraft Foods, Mastercard Incorporated, Quanta Services, Boston Beer Company, Teva Pharmaceutical Industries Limited

Posted: 03 Nov 2011 06:12 AM PDT

    MasterCard (NYSE:MA) posted Q3 EPS of $5.63, exceeding the Zacks Consensus Estimate of $4.81 per share. Revenues for the quarter rose 27.3% year-over-year to $1.82 billion, beating the Zacks Consensus Estimate of $1.71 billion

    Kraft Foods (NYSE:KFT) reported Q3 EPS of $0.58, higher than the Zacks Consensus Estimate of $0.56. Revenues for the quarter came in at $13.23 billion

    Becton Dickinson (NYSE:BDX) posted Q4 EPS of $1.39, ex-items, in line … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Rally To 6-week High After ECB Cuts Rates

Posted: 03 Nov 2011 06:06 AM PDT

Forexpros – Gold futures added to gains on Thursday, rallying to a six-week high after the European Central Bank unexpectedly cut its benchmark interest rate.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,764.05 a troy ounce during European afternoon trade, rallying 1.99%.

It earlier rose by as much as 2.1% to trade at USD1,765.85 a troy ounce.

Gold prices traded at USD1,752.55 a troy ounce prior to the ECB announcement.

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

Kimco Reports Strong, Ups Dividend

Posted: 03 Nov 2011 06:06 AM PDT

Kimco Realty Corp. (NYSE:KIM), a leading real estate investment trust (REIT), reported third quarter 2011 rental revenues of $216.1 million compared with $207.2 million in the year-earlier quarter – an increase of 4.3%. Total revenues for the reported quarter, however, missed the Zacks Consensus Estimate of $220.0 million.
Kimco reported third quarter 2011 fund from operations (FFO) of $128.2 million or 31 cents per share compared with $110.5 million or 27 cents in the year-ago period. Fund from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Trims Gains After ECB Cuts Interest Rates

Posted: 03 Nov 2011 06:04 AM PDT

Forexpros – The euro trimmed gains against the U.S. dollar on Thursday, after the European Central Bank unexpectedly cut its key interest rate, while Greek Prime Minister George Papandreou was expected to resign later in the day.

EUR/USD retreated from 1.3834, the pair's highest since Tuesday, to hit 1.3765 during European afternoon trade, still up 0.13%.

The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday's high.

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

Qualcomm Excels On Demand Growth

Posted: 03 Nov 2011 05:53 AM PDT

Supported by significant surge in demand for the high-end 3G smartphones and tablets, Qualcomm Inc. (NASDAQ:QCOM) reported solid earnings in the fourth quarter of fiscal 2011. Net income was up 22% year over year and 2% sequentially, signifying the operating efficiency of Qualcomm. The company's Snapdragon platform and product diversification strategy make management more confident about fiscal 2012 and therefore, it significantly raised its future financial outlook. As a result of these … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Central Bank Cuts Interest Rate To 1.25%

Posted: 03 Nov 2011 05:49 AM PDT

Forexpros – The European Central Bank unexpectedly cut its benchmark interest rate for the first time in six months, it announced on Thursday.

The ECB said it cut the benchmark interest rate to 1.25% from 1.50%. Analysts had expected the ECB to keep rates unchanged at 1.50%.

ECB president Mario Draghi, who chaired his first interest rate meeting as ECB chief, was to comment on the decision at a press conference later in the day.

Following the announcement, the euro held on to gains against … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Dollar Showing Signs Of Strength

Posted: 03 Nov 2011 05:43 AM PDT

This chart will be making US Treasury nervous, after years of saying they want a strong dollar, it seams we are on the verge of more strength in the dollar.

Reviewing the US Dollar bullish etf UUP.

The latest sell down on large volume is losing its selling power (7 to 8) this is of course bullish as there is more buying going than any previous sell down. RTT Volume wave provides the visual to see what is going on within the price and volume waves, and it seams more highs for the US dollar … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Initial Jobless Claims Fall More-than-expected

Posted: 03 Nov 2011 05:40 AM PDT

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week fell more-than-expected, 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 October 29 fell by 9,000 to a seasonally adjusted 397,000, beating expectations for a decline to 400,000.

The previous week's figure was revised up to 406,000 from 402,000.

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

Forex – Dollar Lower Vs. Rivals Amid Greek Turmoil

Posted: 03 Nov 2011 05:39 AM PDT

Forexpros – The U.S. dollar turned lower against its major counterparts on Thursday, as speculation that the Greek government may collapse slightly eased concerns over the country’s bailout referendum, boosting demand for riskier assets.

During European afternoon trade, the dollar was down against the euro, with EUR/USD rising 0.42% to hit 1.3806.

Earlier in the day, Greek Finance Minister Evangelos Venizelos said he was opposed to the planned referendum on the country’s bailout deal.

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

U.S. Q3 Non-farm Productivity Rises More-than-expected

Posted: 03 Nov 2011 05:37 AM PDT

Forexpros – U.S. non-farm productivity rose more-than-expected in the third quarter, official preliminary data showed on Thursday.

In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 3.1% in the third quarter, above expectations for a 2.7% increase.

The previous quarter's figure was revised to a decline of 0.1% from a previously reported 0.7% drop

The report also said unit labor costs fell by a seasonally … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Beat For Teva; View Adjusted

Posted: 03 Nov 2011 05:36 AM PDT

Teva Pharmaceutical Industries' (NASDAQ:TEVA) third quarter earnings of $1.25 per American Depositary Share (ADS) were a couple of cents above the Zacks Consensus Estimate but 3.8% below the year-ago earnings. Once again, US generic sales remained soft.
While third quarter revenues increased 2% to $4.3 billion, revenues fell short of the Zacks Consensus Estimate of $4.5 billion. The company reported sales growth in Europe (34%), EEMA (56%), Latin America and Asia (49%). However, North America … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MEMC Beats, But Shares Slump

Posted: 03 Nov 2011 05:21 AM PDT

MEMC Electronic Materials Inc. (NYSE:WFR) has reported third-quarter 2011 adjusted net income per share of 34 cents, strongly beating the Zacks Consensus Estimate of 10 cents. Despite the outperformance, the share price plunged 11.76% in after-hours trading. The market possibly was not enthused by the decline in solar materials sales and lowered earnings guidance for fiscal 2011.
The adjusted figure excludes the impact of restructuring charges, goodwill impairment charges and other non-operating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Rebounds As Greece Vote Looks Doubtful

Posted: 03 Nov 2011 05:11 AM PDT

Forexpros – The pound rebounded from a two-week low against the U.S. dollar on Thursday, tracking the euro higher as a planned referendum on Greece's bailout deal was thrown into doubt amid speculation that the Greek government could collapse.

GBP/USD rebounded from 1.5875, the pair's lowest since October 21, to hit 1.6022 during European early afternoon trade, gaining 0.46%.

Cable was likely to find support at 1.5753, the low of October 21 and resistance at 1.6047, Wednesday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Clorox Beats, Reiterates Guidance

Posted: 03 Nov 2011 05:05 AM PDT

Despite macroeconomic headwinds and inflationary input cost situation, Clorox Corporation (NYSE:CLX) posted better-than-expected first-quarter 2012 results. During the quarter, earnings per share declined 7 cents to $1.01 compared with the prior-period earnings of $1.08. However, quarterly earnings handily beat the Zacks Consensus Estimate of 92 cents per share.
Clorox's net sales during the quarter gained 3.0% year over year to $1,305.0 million from $1,266.0 million in the year-ago quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Rise As Markets Eye Greece; Dow Jones Up 0.55%

Posted: 03 Nov 2011 04:54 AM PDT

Forexpros – U.S. stock futures edged higher on Thursday, as concerns over the current euro zone turmoil slightly eased ahead of a Greek government vote of confidence on Friday.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.55%, S&P 500 futures signaled a 0.51% increase, while the Nasdaq 100 futures indicated a 0.35% gain.

Market sentiment slightly recovered after European officials said that the single currency bloc will survive, even if Greece’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Corn Gains On Speculation Of Increased Chinese Demand

Posted: 03 Nov 2011 04:35 AM PDT

Forexpros – Corn futures rose on Thursday, recouping the previous day's losses amid speculation that Chinese corn demand will remain strong in the near-term, while a broadly weaker U.S. dollar also lent support.

On the Chicago Mercantile Exchange, corn futures for December delivery traded at USD6.5438 a bushel during European morning trade, jumping 1.55%.

It earlier rose by as much as 1.75% to trade at a daily high of USD6.5538 a bushel.

Corn prices were boosted after a survey of corn … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex- EUR/USD Firms Up But Gains Capped By Greece Woes

Posted: 03 Nov 2011 04:23 AM PDT

Forexpros – The euro regained ground against the U.S. dollar on Thursday, rebounding from a session low as doubts over whether a planned referendum on Greece's bailout deal will go ahead supported demand for the single currency.

EUR/USD pulled back from 1.3657 the session low, to hit 1.3798 during European late morning trade, rising 0.40%.

The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday's high.

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

Forex – USD/CHF Slides Amid Greece Vote Uncertainty

Posted: 03 Nov 2011 04:14 AM PDT

Forexpros – The U.S. dollar was lower against the Swiss franc on Thursday, as dissent within the Greek government cast doubts over whether a planned referendum on the country's new bailout deal would go ahead.

USD/CHF hit 0.8799 during European morning trade, the session low; the pair subsequently consolidated at 0.8808, slipping 0.36%.

The pair was likely to find support at 0.8609, Monday's low and resistance at 0.8904, Wednesday's high.

Market sentiment staged a modest recovery … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Copper Futures Decline Amid Mounting Greece Debt Fears

Posted: 03 Nov 2011 03:48 AM PDT

Forexpros – Copper futures fell to a two-day low on Thursday, as market sentiment continued to be dominated by ongoing uncertainty over Greece's planned referendum on its bailout deal.

On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at USD3.513 a pound during European morning trade, tumbling 1.89%.

It earlier fell by as much as 2.65% to trade at USD3.474 a pound, the lowest price since November 1.

Concerns over a Greek debt default … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Hits 3-day High As E.Z. Fears Ease

Posted: 03 Nov 2011 03:20 AM PDT

Forexpros – The euro edged up to a three-day high against the pound on Thursday, as signs that the euro zone will be capable of overcoming a potential Greek exit supported demand for the single currency.

EUR/GBP pulled back from 0.8596, the daily low to hit 0.8596 during European morning trade, rising 0.10%.

The pair was likely to find support at 0.8577, the low of September 30 and resistance at 0.8685, the high of September 13.

Market sentiment was slightly lifted after European officials … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fed Lowers Growth Forecast For US Economy

Posted: 02 Nov 2011 07:41 PM PDT

By ForexMansion.com
At a meeting yesterday, the US Federal Reserve's Federal Open Market Committee (FOMC) decided to leave the base interest rate unchanged at 0.25%. However, the FOMC lowered its forecast on the country's GDP growth for 2011 and subsequent years. The unemployment forecast was also revised downward; FOMC members are not expecting the unemployment level to get down to 7% until 2014. Despite prognoses more pessimistic than those from the September 20-21 meeting earlier this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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