DailyMarkets.com - Valeant Pharma To Acquire INova

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• Valeant Pharma To Acquire INova
• Regeneron Drug Cleared In The US
• Positive Opinion For AstraZeneca Drug
• Earnings Preview: Medtronic
• Valdes: “Super Committee Indecision…it’s Embarrassing.”
• Earnings Scorecard: American Tower
• Morgans Takes Over Light Group
• Euro Sees Super Drop On Super Committee Flop
• Forex – USD/JPY Up During The U.S. Session
• Rambus Loses, MU Gets Clean Chit
• Valdes: “Super Committee Indecision…it’s Embarrassing.”
• BP In Twin Divesture Deals
• Cyberonics Posts Strong 2Q
• Moody’s Lifts Cummins Ratings
• European Markets Close Lower; Dax Down 3.35%
• Oil Dips On Super Committee Indecision
• Sysco Enhances Share Holders’ Value
• Bank Failures Touch 90
• Euro Yo-yo
• Forex Trading: EURUSD Trading Between Support And Resistance
• Forex Trading: USDCAD Moves Toward The Next Target Resistance At 1.0424
• Forex Trading: EURUSD Pushes Sharply Higher. Stops Triggered
• Forex Trading: USDJPY Moves Above The 100 Hour MA
• Forex Trading: GBPUSD Has Double Bottom, But Holds Below 100 Bar MA On 5 Minute…so Far
• Forex Trading: EURUSD Tests Resistance Target
• Alcoa Seeks Refinery Extension
• A Smartphone From Amazon?
• The Market In Kidneys: A Moral Case
• Tech Data Misses 3Q Estimates
• Tyson’s 4Q Earnings Lag
• Cartoon Of The Day: The Wrong Track
• Tesoro Downgraded To Neutral
• Profitable 3Q For Kirkland
• Hibbett Shines, Guides High
• Higher Comps Drive Ann’s Profit
• CHMP Recommends Merck KGaA’s Rebif
• Starwood Broadens Sheraton In Asia
• Hartford Falls To Underperform
• OOIL: Introducing The Algae Growers Starter Kit.
• BNY Mellon FX Case Partly Dismissed
• Neutral On Alliant Techsystems
• Q3 Results, Software Launch On-Track For Q4
• Montpelier Hikes Dividend
• Earnings Preview: Patterson Co.
• LMT Upgrading F-22′s In $7.4B Deal
• Telefonica To Shed Underperformers
• Forex – Dollar Sharply Higher As E.U./U.S. Debt Concerns Persist
• Wall Street Extends Losses On Debt Fears
• Forex – GBP/USD Tumbles More Than 1% In Risk-off Trade
• Crude Oil Remains Lower As Dollar Gains Ground
• Forex – EUR/USD Trims Losses After U.S. Home Sales Data
• Gold Futures Down More Than 1% On Broadly Stronger Dollar
• Existing Home Sales Rise Unexpectedly
• Natural Gas Futures Steady Close To 13-month Low
• U.S. Stocks Drop On Stalled Debt Reduction; Dow Jones Down 1.57%
• Forex – USD/CAD Rises To 6-week High As Risk Aversion Escalates
• Lingering Euro-zone Debt Issues Compounded By U.S. Debt Debate Lifts Dollar
• Not-so-super Committee Drops Stocks
• Louis Sulsenti Discusses Trader Innovations
• GM’s Rise From The Scrapyard
• The Gold Triple Play – Volatility, Currencies And Europe

Valeant Pharma To Acquire INova Posted: 21 Nov 2011 12:05 PM PST Valeant Pharmaceuticals International, Inc. (NYSE:VRX) announced yet another acquisition deal recently. This time Valeant Pharma has entered into a deal to acquire iNova from Australian private equity firms Archer Capital and Ironbridge. iNova pharmaceutical group develops and markets prescription and over-the-counter (OTC) pharmaceutical products in the Australia, New Zealand, Southeast Asia and South Africa. Valeant Pharma will pay shareholders of iNova 625 million Australian dollars as upfront … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Regeneron Drug Cleared In The US Posted: 21 Nov 2011 11:50 AM PST Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) recently received a huge boost when the US Food and Drug Administration (FDA) cleared its injectable eye drug Eylea (aflibercept) for treating patients suffering from the neovascular form of age-related macular degeneration (wet AMD). The recommended dosage for the drug, also known as VEGF (vascular endothelial growth factor) trap-eye, is 2mg on a monthly basis for the first 12 weeks. The subsequent recommended dosage is 2 mg on a bi-monthly basis. We … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Positive Opinion For AstraZeneca Drug Posted: 21 Nov 2011 11:40 AM PST AstraZeneca (NYSE:AZN) recently announced that Caprelsa, currently under European review for the treatment of aggressive and symptomatic medullary thyroid cancer (MTC) in patients with unresectable locally advanced or metastatic disease, has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP). Caprelsa will now be reviewed by the European Commission, the regulatory authority which approves medicines for use in the EU. Caprelsa is already approved in the US … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Medtronic Posted: 21 Nov 2011 11:20 AM PST Leading medical devices company Medtronic (NYSE:MDT) is expected to report second quarter fiscal 2012 results before the market opens on Tuesday, November 22, 2011. The company is expected to earn an EPS of 82 cents on revenues of $4.066 billion during the quarter, according to the Zacks Consensus Estimate. Medtronic met its expectations in the first quarter of fiscal 2012. The four-quarter positive surprise of 0.54% implies that the company has surpassed the Zacks Consensus Estimate by this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valdes: “Super Committee Indecision…it’s Embarrassing.” Posted: 21 Nov 2011 11:10 AM PST 11/21/11 DME Securities’ Alan Valdes discusses today’s equity market selloff and weighs in on the fundamentals and technical levels that will be closely … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: American Tower Posted: 21 Nov 2011 11:05 AM PST American Tower Corp. (NYSE:AMT) reported mixed third quarter 2011 financial results. Despite witnessing a growth in the top line, the company's bottom line fell mainly due to unfavorable foreign exchange fluctuation and higher operating expenses. Third Quarter Highlights Quarterly total revenue was $630.4 million, up 22.8% year over year and ahead of the Zacks Consensus Estimate of $614 million. However, on a GAAP basis, the company reported a loss of $15.7 million or 4 cents per share as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Morgans Takes Over Light Group Posted: 21 Nov 2011 10:50 AM PST Morgans Hotel Group Co. (NASDAQ:MHGC) recently penned a definitive agreement to buy the 90% controlling interest in The Light Group ("TLG"), a leading lifestyle food and beverage company, for $46.5 million. The purchase price has been divided into two tranches of a cash consideration worth $28.5 million and the remaining $18.0 million payable after EBITDA achievement of the same amount from Light Group’s existing business over the next 27 months. The transaction is expected to be sealed in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Sees Super Drop On Super Committee Flop Posted: 21 Nov 2011 05:45 AM PST 11/21/11 The euro fell victim to risk aversion this afternoon as the failure of the US super committee to agree of debt cutting measures kept investors seeking out safer-haven, lower-yielding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up During The U.S. Session Posted: 21 Nov 2011 10:45 AM PST Forexpros – The U.S. Dollar was higher against the Japanese Yen on Monday after the release of U.S. data on Existing Home Sales. USD/JPY was trading at 76.92, up 0.03% at time of writing. The pair was likely to find support at 76.58, Friday's low, and resistance at 77.15, Wednesday's high. Earlier in the day, industry data showed that existing home sales rose unexpectedly to a seasonally adjusted annual rate of 4.97M last month from 4.90M in the preceding month whose figure was revised … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rambus Loses, MU Gets Clean Chit Posted: 21 Nov 2011 10:35 AM PST Finally, the verdict is out. Technology licensing company Rambus Inc. (NASDAQ:RMBS) received an untoward ruling by a California jury on the long-drawn (almost 7 years) antitrust battle with Micron Technology Inc. (NYSE:MU) and Hynix Semiconductor Inc. A long time back, Rambus dragged Micron and Hynix to court on antitrust charges including conspiracy to fix DRAM prices and prevent its RDRAM memory technology from gaining traction in the market. The company had sought damages from Micron and Hynix … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valdes: “Super Committee Indecision…it’s Embarrassing.” Posted: 21 Nov 2011 10:30 AM PST 11/21/11 DME Securities’ Alan Valdes discusses today’s equity market selloff and weighs in on the fundamentals and technical levels that will be closely … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BP In Twin Divesture Deals Posted: 21 Nov 2011 10:20 AM PST British energy giant BP Plc (NYSE:BP) has agreed to sell its interests in the Pompano and Mica fields in the Gulf of Mexico to Louisiana-headquartered independent oil and gas explorer Stone Energy Corporation (NYSE:SGY) for $204 million in cash. Per the deal, a subsidiary of Stone Energy, Stone Energy Offshore, LLC, will acquire BP's 75% operated working interest in the five-block Pompano field and 50% non-operated working interest in the Mica field. ExxonMobil Corporation (NYSE:XOM) is the operator … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cyberonics Posts Strong 2Q Posted: 21 Nov 2011 10:10 AM PST Cyberonics (NASDAQ:CYBX) reported second quarter 2012 EPS of 32 cents, surpassing the Zacks Consensus Estimate of 30 cents and was 28% higher than the year-ago quarter's adjusted EPS. Revenues increased 13% year over year (20% at constant exchange rate or CER) to $53.7 million, almost in line with the Zacks Consensus Estimate. The growth was based on higher sales in the U.S (up 11.3% to $45.1 million) and a 23% increase in international revenues to $8.6 million. Despite withdrawal of two models of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Moody’s Lifts Cummins Ratings Posted: 21 Nov 2011 10:05 AM PST Moody’s Investors Service, the credit rating arm of Moody's Corp. (NYSE:MCO), raised the senior unsecured rating of Cummins Inc. (NYSE:CMI) to "Baa1" from "Baa2". The upgrade was based on the company's impressive product portfolio, geographic diversity and effective financial policies. The rating agency also changed its outlook on Cummins to "positive", which could lead to another upgrade in the next 12 to 18 months. Cummins is a leading worldwide designer, manufacturer and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Lower; Dax Down 3.35% Posted: 21 Nov 2011 10:05 AM PST Forexpros – European stocks were down after the closing bell on Monday. At the close of European trade, Germany's DAX fell 3.35%, London's FTSE 100 shed 2.62%, France's CAC 40 declined 3.41% and the EURO STOXX 50 was down 3.42%. Earlier in the day, industry data showed that existing home sales rose unexpectedly to a seasonally adjusted annual rate of 4.97M last month from 4.90M in the preceding month whose figure was revised down from 4.91M. Analysts had expected existing home sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Dips On Super Committee Indecision Posted: 21 Nov 2011 05:00 AM PST 11/21/11 After a series of choppy trading sessions last week, oil prices were trading lower to start the week as future growth concerns and the US super committee failing to agree on debt cutting measures kept prices sliding this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sysco Enhances Share Holders’ Value Posted: 21 Nov 2011 09:50 AM PST After posting a robust first-quarter 2012 earnings, the world's leading retail of food and related goods retailer Sysco Corporation (NYSE:SYY) has authorized a repurchase of 20 million common shares and raised its dividend by a penny to 27 cents a share. The new dividend is payable on January 27, 2012, to common shareholders of record at the close of business on January 6, 2012. Sysco was founded as a public company in 1970 and since then it has paid a quarterly cash dividend every quarter. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Failures Touch 90 Posted: 21 Nov 2011 09:41 AM PST U.S. regulators continue to shutter banks. Last Friday saw the closing down of one bank in Iowa and another in Louisiana. The twin closure takes the total number of U.S. bank failures to 90 so far in 2011, following 157 in 2010, 140 in 2009 and 25 in 2008. While the financials of a few large banks have been stabilizing on the back of an economic recovery, the industry is still on shaky ground. Nagging issues like depressed home prices along with still-high loan defaults and unemployment levels … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Yo-yo Posted: 21 Nov 2011 09:39 AM PST Monday, November 21, 2011 With outside forces such as the repatriation of Euro’s by European banks supporting the Euro, it may be difficult for traders to hold an outright short position in the currency based on its current weak fundamentals. Some traders who are anticipating a weaker Euro going into 2012 may perhaps wish to explore the purchase of a bear put spread in Euro futures options. For example, with the March Euro trading at 1.3477 as of this writing, the March 1.34 puts could be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Trading Between Support And Resistance Posted: 21 Nov 2011 09:39 AM PST The EURUSD is trading between support and resistance for the NY session. The 1.3436 level was a floor from last Thursday's trade. Not far below that is the lows from last week at the 1.3421 and 1.3428 respectively.  On the topside, the resistance comes in against the underside of what was trendline support last week.  That support level was broken earlier today. The underside of that trendline comes in now at the 1.3484 level. Also the midpoint of the days range is near that level … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCAD Moves Toward The Next Target Resistance At 1.0424 Posted: 21 Nov 2011 09:39 AM PST  The USDCAD has been moving steadily to the upside today.  The price opened at the low and apart from 5 or so hourly bars, each price has been a green or up bar. The next target is the 1.0424 level. The downside support is at the 1.0390 level. This level is the point today where the price moved above the hourly trendline. A move below this trendline puts the price back in the channel and should lead to further momentum … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Pushes Sharply Higher. Stops Triggered Posted: 21 Nov 2011 09:39 AM PST The EURUSD broke through the 1.3483 level and it ignited a surge to the upside (see prior post). There is no fundamental story to the move (that I can see at least). From a technica perspective, the price action pushed through the 200 bar MA on the 5 minute chart (green line) and is now pushing toward the high of the day at the 1.3537 level.  There is a number of high levels near that high from Friday and today which should solicit profit taking.  However, with the momemtum … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Moves Above The 100 Hour MA Posted: 21 Nov 2011 09:39 AM PST The USDJPY has moved above the 100 hour MA at the 76.93 level and is pushing toward the 77.00 level. The 77.07 level is hte old support and resistance from the pre-intervention low. The 200 bar MA (green line ) comes in at the 77.15 level The 38.2% of the move down comes in at the 77.21 and the mipoint of the move down comes in at 77.41.  On the downside, a move below the 100 bar MA and the 76.81 level returns the bias back to the bearish side.  We will see if any momentum starts to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Has Double Bottom, But Holds Below 100 Bar MA On 5 Minute…so Far Posted: 21 Nov 2011 09:39 AM PST The GBPUSD has moved up in sympathy with the EURUSD and has a nice double bottom in place below at the 1.5611 level but it held against the 100 bar MA on the first test higher (blue line). A break above is needed to give bottom buying bulls more confidence. The 1.5670 (38.2% of the last leg) will also need to be broken above to give the bulls some joy. Looking at the daily chart the move down today found support at the 61.8% of the move up from the October low to the October high.  That … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests Resistance Target Posted: 21 Nov 2011 09:39 AM PST The EURUSD is up testing the target support after holding above the 38.2% at 1.3498 (see prior post). The resistance comes against the 1.3537 level which is the high from earlier in the day and was also a high from Friday. A move above this level (and shorts do seem to be caught as they could not push the price below the 1.3498 level) would push the price toward the 200 hour MA which is currently at the 1.3563 level (see chart below)  On Friday, the market failed on the break … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alcoa Seeks Refinery Extension Posted: 21 Nov 2011 09:35 AM PST Aluminum producer, Alcoa Inc. (NYSE:AA) applied for a five-year extension of its environmental approval to expand its Wagerup refinery in Western Australia as the previous consent period has expired. Alcoa suspended its proposed expansion of the Wagerup refinery in November 2008 after the global credit crisis curbed demand. The Alcoa World Alumina & Chemical, or AWAC venture, 60% owned by Alcoa and 40% controlled by Melbourne-based Alumina, produces alumina, which is refined into aluminum, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Smartphone From Amazon? Posted: 21 Nov 2011 09:35 AM PST Rumor has it that Amazon.com (NASDAQ:AMZN) will be launching a smartphone late next year. Well, may not be a rumor exactly, since the Citigroup (NYSE:C) analyst reporting the development mentioned that his supply chain checks suggested that such a device was in fact being developed in collaboration with Foxconn International Holdings. However, the largest contract cellphone maker may not be the one to ultimately make the product for Amazon, which may rely on its tablet maker Hon Hai Precision for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Market In Kidneys: A Moral Case Posted: 21 Nov 2011 09:30 AM PST From LearnLiberty.org.  Philosophy professor James Stacey Taylor: “When there’s a transplant operation from a living donor into the body of a living recipient, everybody involved in the operation is getting paid: the anesthesiologist, the surgeon, the nurses, the hospital, etc. The only person not getting paid is the person who is actually giving up the most precious commodity of all – the kidney donor.  And I think that’s morally wrong.”   … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tech Data Misses 3Q Estimates Posted: 21 Nov 2011 09:26 AM PST Information technology (IT) products distributor, Tech Data Corp. (NASDAQ:TECD) reported third quarter 2012 earnings of $1.26 per share that missed the Zacks Consensus Estimate by a penny. However, earnings per share (EPS) increased 17.8% year over year, primarily driven by strong top-line growth and aggressive share buyback activity during the quarter. Operating Performance Gross profit increased 6.3% year over year to $344.7 million. Gross margin of 5.2% remained flat on a year-over-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tyson’s 4Q Earnings Lag Posted: 21 Nov 2011 09:21 AM PST Tyson Foods Inc. (NYSE:TSN) reported its fourth-quarter and fiscal 2011 adjusted earnings of 26 cents a share and $1.97, respectively. The fiscal result included a $0.03 per diluted share gain related to the sale of interests in an equity method investment; and $0.05 per diluted share reduction to income tax expense related to a reversal of reserves for uncertain foreign tax positions. The fourth quarter earnings missed the Zacks Estimate of 31 cents by 19.23% and plunged from the year ago … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cartoon Of The Day: The Wrong Track Posted: 21 Nov 2011 09:19 AM PST By Gary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tesoro Downgraded To Neutral Posted: 21 Nov 2011 09:16 AM PST We have downgraded independent refiner Tesoro Corporation (TSO) to Neutral from Outperform despite its impressive third quarter results. San Antonio, Texas-based Tesoro is an independent refiner and marketer of refined petroleum products in the western U.S. The company operates in two segments: Refining (accounted for 72% of the company's total 2010 operating income) and Retail (28%). The Refining segment manufactures and sells gasoline and gasoline-blend stocks, jet fuel, diesel fuel, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Profitable 3Q For Kirkland Posted: 21 Nov 2011 09:01 AM PST Kirkland's Inc.'s(NASDAQ:KIRK) third-quarter 2011 earnings of 6 cents a share came in ahead of the Zacks Consensus Estimate of 4 cents per share. However, earnings were short of the prior-year quarter's figures of 11 cents. Quarter in Detail Kirkland's net sales went up 4.7% year over year to $97.1 million from $92.7 million in the year-ago quarter. Consolidated comparable store sales slipped 3.6% compared with a 2.4% decrease in the prior-year quarter. On a year-over-year basis, gross … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hibbett Shines, Guides High Posted: 21 Nov 2011 09:01 AM PST Once again, the robust performance of footwear and apparel sales along with operational efficiencies facilitated Hibbett Sports Inc. (NASDAQ:HIBB) to deliver better-than-expected results for the third quarter ended October 29, 2011.  Hibbett's third-quarter earnings of 59 cents per share outshined the Zacks Consensus Estimate of 51 cents and jumped 34.1% from the prior-year quarter earnings of 44 cents. The company remains focused on mid-sized and smaller markets as well as strategic mix of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Higher Comps Drive Ann’s Profit Posted: 21 Nov 2011 09:01 AM PST Ann Inc. (NYSE:ANN) recently reported third-quarter 2011 results. The company's adjusted earnings leapt to 61 cents per share from 42 cents in the year-ago quarter, primarily driven by higher sales, improved gross margin and management initiatives to contain costs. Quarterly earnings also beat the Zacks Consensus Estimate of 57 cents a share. Quarterly Details During the quarter, Ann's net sales grew 11.6% to $564.0 million from $505.3 million in the year-ago quarter. The growth was primarily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CHMP Recommends Merck KGaA’s Rebif Posted: 21 Nov 2011 09:01 AM PST Merck KGaA (MKGAF) recently announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended the approval of Rebif for the treatment of patients with early signs of multiple sclerosis (MS). On approval, the drug can be used in patients who have experienced a single demyelinating event, and are at high risk of converting to MS. Merck KGaA had submitted the European application for the extended indication of Rebif in June 2011. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Starwood Broadens Sheraton In Asia Posted: 21 Nov 2011 09:01 AM PST White Plains, New York-based Starwood Hotels & Resorts Worldwide Inc (HOT) recently announced its intention of opening 10 new Sheraton hotels in Asia by the end of 2012. All the new resorts are planned for opening in China except one hotel which is slated for Indonesia. Since the last couple of quarters, Sheraton the largest and most global brand is spearheading Starwood's market share growth, aiming at a global expansion worth $5 billion over the next three years. The new hotels will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hartford Falls To Underperform Posted: 21 Nov 2011 09:01 AM PST Last week, we downgraded our recommendation on Hartford Financial Services Group Inc. (NYSE:HIG) to Underperform based on its weak third quarter results. The company reported third-quarter 2011 operating earnings per share of 93 cents, comfortably beating the Zacks Consensus Estimate of 23 cents. However, earnings were behind 98 cents reported in the third quarter of 2010. Hartford's financials and operations are significantly impacted by the challenging regulatory environment and fluctuations … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

OOIL: Introducing The Algae Growers Starter Kit. Posted: 21 Nov 2011 09:01 AM PST OriginOil (OOIL) has announced the Algae Appliance: Ian Gilson, CFA On November 16, 2011 at the 4th Algae World Asia Conference in Beijing, China OriginOil introduced the “Algae Appliance”, a commercial entry level algae harvesting system. This system offers algae producers a low cost, low energy chemical free method that has the potential of removing 90% of the initial water volume used in growing the algae. The Algae Appliance will be available after field testing is complete in the first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BNY Mellon FX Case Partly Dismissed Posted: 21 Nov 2011 09:01 AM PST On Friday, The Bank of New York Mellon Corporation (NYSE:BK) won a partial dismissal of foreign exchange (FX) lawsuit filed by the state of Virginia. The Fairfax County Circuit Court Judge dismissed two of the three charges that were filed against the company. But the main accusation of Fraud Against Taxpayers Act remains. In August, BNY Mellon had been accused by the state of Virginia of failing to provide the best possible prices while making foreign currency trades for the state pension funds. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Alliant Techsystems Posted: 21 Nov 2011 09:01 AM PST We maintain our long-term 'Neutral' recommendation on Alliant Techsystems Inc. (NYSE:ATK) following a mixed quarter. Earnings surpassed our estimates while sales missed forecasts. Alliant's margins in the quarter were helped by effective cost control measures. However, lower contributions from the Aerospace Systems and Armament Systems businesses, due to lower NASA and military ammunition sales, indicate concerns. Minneapolis, Minnesota-based Alliant is a well diversified aerospace and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Q3 Results, Software Launch On-Track For Q4 Posted: 21 Nov 2011 09:01 AM PST Q3 2011 Results Brian Marckx, CFA   OnPoint Medical (ONMD.PK) filed their 10-Q for the third quarter ending September 30, 2011 on November 14th. As expected, the company did not generate any revenue. Operating expenses (consisting entirely of general and administrative expenses) were $307k, $137k below our $444k estimate. EPS was ($0.03), compared to our ($0.05) estimate.      $163k in software development costs were capitalized in the quarter. As OnPoint completed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Montpelier Hikes Dividend Posted: 21 Nov 2011 09:01 AM PST The board of directors of  Montpelier Re Holdings Ltd. (NYSE:MRH) approved a 5% increase in its quarterly dividend. The increased dividend of 10.5 cents will be paid on or before January 15, 2012, to shareholders of record as of December 31, 2011. Montpelier has a consistent track record of paying dividends regularly, marking the straight third year of dividend increase with this approval. The prior authorization was made on November 2010. The board, then, had approved an 11% dividend … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Patterson Co. Posted: 21 Nov 2011 09:01 AM PST Patterson Companies (NASDAQ:PDCO), a leading distributor of dental, veterinarian and rehabilitation medical supplies, is slated to report its second-quarter fiscal 2012 results on Tuesday, November 22. Analysts polled by Zacks are currently looking for earnings per share of 47 cents for the second quarter, an estimated annualized growth of 3.59%. The Zacks Consensus Estimate for revenues is $887 million. With respect to earnings surprises, Patterson's performance over the past four quarters has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

LMT Upgrading F-22′s In $7.4B Deal Posted: 21 Nov 2011 09:01 AM PST Defense contractor, Lockheed Martin Corporation (NYSE:LMT) has received a contract worth $7.4 billion from the Department of Defense ("DoD") for system upgrade of the Air Force’s F-22 Raptor fighter jet. Under the deal, Lockheed Martin will be asked to work on a variety of tasks that include developing upgrades, incorporating new requirements, adding capabilities and improving the performance of the F-22 weapon system. The F-22 Raptor is a single-seat, twin-engine, fifth-generation super … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Telefonica To Shed Underperformers Posted: 21 Nov 2011 09:01 AM PST Challenged by the weak domestic economy, Spanish telecom giant Telefonica SA (NYSE:TEF) intends to sell its underperforming assets. The company believes that the divestiture will reduce its debts and win back investor confidence. During the first nine months of the year, Telefonica generated lackluster revenue in its Spanish division that deteriorated 7% from the year-ago period. Domestic customers are switching to cheaper offers from smaller rivals, resulting in lower revenues and earnings. In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Sharply Higher As E.U./U.S. Debt Concerns Persist Posted: 21 Nov 2011 08:12 AM PST Forexpros – The U.S. dollar extended broad gains against its major counterparts on Monday, as ongoing U.S. and euro zone debt concerns overshadowed upbeat U.S. home sales data, boosting demand for the safe haven greenback. During U.S. morning trade, the dollar was up against the euro, with EUR/USD dropping 0.38% to hit 1.3473. Earlier in the day, the spread between 10-year Spanish bond yields and their German counterparts widened amid uncertainty over the ability of Madrid's newly elected … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Extends Losses On Debt Fears Posted: 21 Nov 2011 08:10 AM PST 11/21/11 US stocks tumbled as US and EU debt woes continued to weigh on the markets. M&A action dominated corporate news at the beginning of a holiday shortened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Tumbles More Than 1% In Risk-off Trade Posted: 21 Nov 2011 07:52 AM PST Forexpros – The pound extended losses against the U.S. dollar on Monday, shrugging off better-than-expected U.S. home sales data as market sentiment remained weak amid concerns over European and U.S. sovereign debt. GBP/USD hit 1.5613 during U.S. morning trade, the pair's lowest since October 12; the pair subsequently consolidated at 1.5619, plummeting 1.17%. The pair was likely to find support at 1.5541, the low of October 12 and resistance at 1.5826, the high of November 16. In a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Remains Lower As Dollar Gains Ground Posted: 21 Nov 2011 07:46 AM PST Forexpros – Crude oil futures remained sharply lower on Monday, weighed by a broadly stronger U.S. dollar as risk appetite was hard hit by investor concerns over sovereign debt issues in the euro zone and the U.S. On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD95.70 a barrel during U.S. morning trade, tumbling 2.05%. The greenback gained broadly earlier, boosted by ongoing worries over the euro zone's sovereign-debt crisis. A stronger … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Trims Losses After U.S. Home Sales Data Posted: 21 Nov 2011 07:31 AM PST Forexpros – The euro trimmed losses against the U.S. dollar on Monday, after better-than-expected U.S. home sales data but the single currency remained vulnerable amid ongoing concerns over European and U.S. sovereign debt. EUR/USD pulled back from 1.3431, the pair's lowest since November 17 to hit 1.3474 during U.S. morning trade, still down 0.33%. The pair was likely to find support at 1.3377, the low of October 10 and resistance at 1.3613, the high of November 18. In a report, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Down More Than 1% On Broadly Stronger Dollar Posted: 21 Nov 2011 07:23 AM PST Forexpros – Gold futures remained sharply lower on Monday, down more than 1% as a broadly stronger dollar and concerns over sovereign debt loads in the euro zone and the U.S. weighed. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at a three-week low of USD1702.95 a troy ounce during U.S. morning trade, tumbling 1.29%. Earlier in the day, the spread between 10-year Spanish bond yields and their German counterparts widened as investors … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Existing Home Sales Rise Unexpectedly Posted: 21 Nov 2011 07:08 AM PST Forexpros – U.S. existing home sales rose unexpectedly in October, industry data showed on Monday. In a report, the National Association of Realtors said that home sales rose to 4.97M, from 4.90M in September. Analysts had expected existing home sales to decline to 4.80M in October. Following the data, the euro remained lower against the U.S. dollar with EUR/USD shedding 0.47% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Steady Close To 13-month Low Posted: 21 Nov 2011 07:06 AM PST Forexpros – Natural gas futures were almost unchanged on Monday, hovering close to Friday's 13-month low after data last week showing that storage levels in the U.S. rose to record high levels continued to weigh. On the New York Mercantile Exchange, natural gas futures for delivery in December traded at USD3.326 per million British thermal units during U.S. morning trade, easing up 0.32%. It earlier fell by as much as 1.26% to trade at USD3.228 per million British thermal units, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Drop On Stalled Debt Reduction; Dow Jones Down 1.57% Posted: 21 Nov 2011 06:46 AM PST Forexpros – U.S. stocks were sharply lower on Monday, after U.S. politicians failed to agree on deficit reduction and as sustained concerns over the handling of the debt crisis in the euro zone continued to weigh on market sentiment. During early U.S. trade, the Dow Jones Industrial Average slipped 1.57%, the S&P 500 index fell 1.73%, while the Nasdaq Composite index declined 1.91%. Market sentiment was hit after a U.S. congressional “super committee” failed to agree on a package of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Rises To 6-week High As Risk Aversion Escalates Posted: 21 Nov 2011 06:28 AM PST Forexpros – The U.S. dollar rose to a six-week high against its Canadian counterpart on Monday, as demand for higher yielding assets was hit by growing concerns over sovereign debt loads in the euro zone and the U.S. USD/CAD hit 1.0369 during early U.S. trade, the pair's highest since October 10; the pair subsequently consolidated at 1.0344, gaining 0.67%. The pair was likely to find support at 1.0207, the low of November 17 and resistance at 1.0418, the high of October 10. Risk appetite … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lingering Euro-zone Debt Issues Compounded By U.S. Debt Debate Lifts Dollar Posted: 21 Nov 2011 06:28 AM PST Fundamental Headlines • Sales of Existing U.S. Homes Likely Feel for Second Month – Bloomberg • U.S. Debt Supercommittee Ready to Announce Failure – Bloomberg • Global Economic Outlook Grim, China tells U.S. Trade Talks – Reuters • Pressure for Fast Action after Spanish Election – Reuters • Moody's Warns France on Rating – WSJ European Session Summary After a brief respite on Friday, markets resumed their orderly decline as trading began on Monday. Trading in the Asian … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Not-so-super Committee Drops Stocks Posted: 21 Nov 2011 01:15 AM PST 11/21/11 NYFP’s Morning Market Brief: With the super committee expected to announce that it cannot agree on deficit savings, the major global equity markets started off the week with steep … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Louis Sulsenti Discusses Trader Innovations Posted: 21 Nov 2011 12:00 AM PST 11/21/11 NYFP’s Wall Street Lingo: Louis Sulsenti of Pragma discusses innovations in technology that has not only changed how traders execute orders, but how the general public accesses … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GM’s Rise From The Scrapyard Posted: 20 Nov 2011 11:00 PM PST 11/21/11 NYFP’s Wall Street History: This week, Richard Anderson discusses the meteoric rise, sudden fall, and recent resurrection of American motor vehicle giant, the General Motor … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Gold Triple Play – Volatility, Currencies And Europe Posted: 20 Nov 2011 10:00 PM PST Resurgent investment lifted global gold demand 6 percent from the previous year to just over 1,000 tons during the third quarter of 2011, according to the latest Gold Demand Trends Report from the World Gold Council (WGC). The potent cocktail of inflationary pressures in the emerging world and the European sovereign debt fiasco left investors searching for a safe haven—they looked for it in gold. In an uncertain era where many asset values are declining, gold has thrived. Gold prices averaged … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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