Friday, November 25, 2011

DailyMarkets.com - The Week Ahead: Global Manufacturing Data, NFP In Focus

DailyMarkets.com - The Week Ahead: Global Manufacturing Data, NFP In Focus

The Week Ahead: Global Manufacturing Data, NFP In Focus

Posted: 25 Nov 2011 03:58 PM PST

11/25/11 Manufacturing data from the US, Euro-zone and China will be closely monitored. At the end of the week, the November US employment report will be in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Colombia Central Bank Lifts Rate 25bps To 4.75%

Posted: 25 Nov 2011 03:50 PM PST

The Central Bank of Colombia increased its monetary policy interest rate 25 basis points to 4.75% from 4.50%.  The Bank said [translated]: “Given the central forecast described above, and the risks of financial imbalances, the Board considers it prudent to increase 25 basis points interest rate intervention and believes that this movement is achieved monetary stance which helps to maximize the growth of output and employment consistent with the achievement of future targets … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Needed: ECB Bond Purchases, W/O Sterilization

Posted: 25 Nov 2011 03:20 PM PST

"Purity is Obscurity"
    Ogden Nash
"Sometimes You Have to Destroy a Village to Save It"
           Anonymous in Vietnam
In contrast to the Federal Reserve System, which was established to prevent and deal with financial panics in 1913 and whose powers to do so in exigent circumstances were expanded in the 1930s (only to be taken away when they were used effectively in 2008-2009), the ECB was not designed to act as lender of last resort; and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Tiffany & Co.

Posted: 25 Nov 2011 03:03 PM PST

Tiffany & Company (NYSE:TIF), a high-end jewelry designer, manufacturer and retailer, is slated to report its third-quarter 2011 financial results before the bell on Tuesday, November 29. The current Zacks Consensus Estimate for the quarter is 59 cents a share. The Zacks Consensus estimates revenue at $798 million.
Second-Quarter 2011, a Synopsis
Tiffany posted better-than-expected second-quarter 2011 results buoyed by improved demand for luxury items worldwide and consequently raised its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Capital One-HSBC Deal Under Review

Posted: 25 Nov 2011 02:55 PM PST

Earlier this week, the Office of the Comptroller of the Currency (OCC) announced the recommencement of the comment period on Capital One Financial Corp.'s (NYSE:COF) proposed deal to acquire HSBC Holdings Plc's (NYSE:HBC) U.S. credit-card business. This decision was taken following consumer and housing advocates' opposition to the agreement.
Though the original comment period on the deal ended on November 7, the OCC stated that now it would take public responses through December 19. This was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chevron’s Brazil Dream Sours

Posted: 25 Nov 2011 02:50 PM PST

U.S. energy behemoth Chevron Corp. (NYSE:CVX) has been temporarily suspended from 'all drilling activities' in Brazil by the country's oil regulator – Agencia Nacional do Petroleo or ANP – following an oil leak 74 miles off the coast of Rio de Janeiro. The agency's diktat will remain in effect until it identifies the causes of the spill and considers it safe to resume drilling. Chevron has already been slapped with a fine of R$50 million ($28 million) by Brazil’s environmental … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Net Oil Imports Only 45.6% Of U.S. Consumption, Dependence On Foreign Oil Lowest Since 1995

Posted: 25 Nov 2011 02:47 PM PST

From Mort Zuckerman’s editorial in today’s WSJ:

“The good news is that the United States is at the center of a global energy revolution. Our development of innovative shale-gas technology offers the prospect of a huge bonanza of natural gas (and some oil as well). It’s the most positive event in the country’s energy outlook in 50 years. Let’s celebrate the achievement before looking at what needs to be done to bring it to fruition.

This kind of seismic shift in the energy landscape is rare. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Thanksgiving Reflection: Looking Beyond Election Day

Posted: 25 Nov 2011 02:42 PM PST

Most political analysis of America's awful economy focuses on whether it will doom President Obama's reelection or cause Congress to turn toward one party or the other. These are important questions, but we should really be looking at the deeper problems with which whoever wins in 2012 will have to deal.
Not to depress you, but our economic troubles are likely to continue for many years — a decade or more. At the current rate of job growth (averaging 90,000 new jobs per month over the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ICE Refills Energy Portfolio

Posted: 25 Nov 2011 02:40 PM PST

Earlier this week, IntercontinentalExchange Inc. (NYSE:ICE) announced its plan to launch 33 new over-the-counter (OTC) cleared energy products. The company will now be offering over 635 OTC energy contracts, along with the products announced, comprising more than 545 new cleared OTC contracts since the launch of ICE Clear Europe in November 2008.
Accordingly, the energy contracts include global crude oil and refined petroleum products coupled with North American power and natural gas liquids. All … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Portfolio Recovery Creates New Unit

Posted: 25 Nov 2011 02:35 PM PST

Earlier this week, Portfolio Recovery Associates Inc. (NASDAQ:PRAA) announced the creation of a new subsidiary, PRA Professional Services, LLC, in order to expand its audit and revenue recovery services for the private sector.
The newly-formed company is a wholly-owned subsidiary of Portfolio Recovery and has already received its first assignments of examining and verifying some lease payment agreements with variable payment options for commercial real estate companies.
While PRA Professional … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Iconix Secures New Credit Facility

Posted: 25 Nov 2011 02:35 PM PST

In order to enhance liquidity and boost the capital structure, Iconix Brand Group, Inc. (NASDAQ:ICON) has agreed to a $150 million secured revolving credit facility of two years.
Iconix h  with Barclays Capital, a unit of Barclays Plc (NYSE:BCS), Goldman Sachs Bank USA, a wing of The Goldman Sachs Group, Inc. (NYSE:GS), and GE Capital Markets, a part of General Electric (NYSE:GE). The facility will thus offer capital at a low cost.
Iconix's board has recently authorized a program to repurchase up to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earning Scorecard: Scripps Networks

Posted: 25 Nov 2011 02:10 PM PST

Scripps Networks Interactive, Inc.(NYSE:SNI) reported mixed financial results in the third quarter of 2011, with total revenue missing but earnings in line with the Zacks Consensus Estimates.
Third Quarter Highlights
Quarterly consolidated revenue of $503.7 million was up 7.9% year over year, but remained below the Zacks Consensus Estimate of $510 million. Quarterly GAAP net income from continuing operation was $98.6 million or 65 cents per share compared with $101.7 million or 61 cents per share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down At The End Of U.S. Session

Posted: 25 Nov 2011 02:10 PM PST

Forexpros – The Euro was lower against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3238, down 0.82% at time of writing.

The pair was likely to find support at 1.3213, today's low, and resistance at 1.3568, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.46% to hit 0.8574 and EUR/JPY falling 0.02% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: UTI

Posted: 25 Nov 2011 02:05 PM PST

Universal Technical Institute Inc. (NYSE:UTI), which provides professional automotive, diesel, collision repair, motorcycle and marine programs, is slated to report its fourth-quarter 2011 financial results after the bell on Tuesday, November 29. The current Zacks Consensus Estimate for the quarter is 28 cents a share. The Zacks Consensus estimates revenue at $111 million.
Third-Quarter 2011, a Synopsis
Universal Technical posted better-than-expected third-quarter 2011 results. The quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down At The End Of U.S. Session

Posted: 25 Nov 2011 02:05 PM PST

Forexpros – The British Pound was lower against the U.S. Dollar on Friday.

GBP/USD was trading at 1.5440, down 0.36% at time of writing.

The pair was likely to find support at 1.5424, today's low, and resistance at 1.5776, Monday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.46% to hit 0.8574 and GBP/JPY rising 0.43% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up At The End Of U.S. Session

Posted: 25 Nov 2011 02:00 PM PST

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 77.73, up 0.80% at time of writing.

The pair was likely to find support at 76.77, Monday's low, and resistance at 77.79, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.82% to hit 1.3238 and GBP/USD falling 0.36% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PMI Group Stops Trading On NYSE

Posted: 25 Nov 2011 01:55 PM PST

On November 23, 2011, mortgage insurer PMI Group filed for bankruptcy protection under Chapter 11 Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
End August, PMI Group announced that NYSE notified the company that it has fallen below the NYSE’s continued listing standard of maintaining a minimum average closing price of $1.00 per share over 30 consecutive trading days. The shares have been trading at a price below $1.00 since August 1, 2011.
Bad news … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Medicis Eyes Graceway Pharma

Posted: 25 Nov 2011 01:50 PM PST

Medicis Pharmaceutical Corp. (NYSE:MRX) recently announced that it has successfully bid for the purchase of Graceway Pharmaceuticals, LLC, at the latter's bankruptcy auction. The auction was conducted for almost all the US and Canadian pharmaceutical assets of Graceway, which had filed for bankruptcy on September 29, 2011.
According to the terms of the bid, Medicis will pay $455 million to Graceway in return of Graceway’s pharmaceutical product portfolio, consisting of dermatology, respiratory … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Synopsys Inc.

Posted: 25 Nov 2011 01:30 PM PST

Synopsys Inc. (NASDAQ:SNPS) is scheduled to announce its third quarter 2011 results on November 30, 2011, and we do not see any variation in analysts' estimates at this point.
Second Quarter Overview
The company reported second quarter 2011 earnings per share (EPS) of 39 cents, exceeding the Zacks Consensus Estimate of 34 cents. However, revenue of $393.7 million grew 16.4% on a year-over-year basis.
Revenue in the second quarter was $393.7 million, up 16.4% from $338.1 million reported in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Next Week’s Stock Picks

Posted: 25 Nov 2011 01:28 PM PST

( click to enlarge )

If you are already subscribed to my twitter and newsletter, then you know that I alerted my subscribers originally on Wednesday when Royale Energy, Inc. (NASDAQ:ROYL) was trading at $3.58, which means that I have enjoyed gains of roughly 30% as of the close of market on Friday. These gains are significant and represent substantial profit for not only my twitter followers and subscribers but also any other investors who took advantage of my alert early, before the market caught … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nordstrom Reiterated At Neutral

Posted: 25 Nov 2011 01:25 PM PST

We have maintained our long-term Neutral recommendation on Nordstrom Inc. (NYSE:JWN) with a target price of $49.00 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term Hold rating on the stock.
Nordstrom is one of the leading players in the extremely fragmented specialty retail sector. The company offers a broad array of over 500 brands, targeted toward the whole family, through a strong nationwide network of 225 stores situated across 30 states.
Nordstrom has a strong line … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UNH Acquires Medicare Advantage Biz

Posted: 25 Nov 2011 01:20 PM PST

On Tuesday, UnitedHealthcare, a division of UnitedHealth Group (NYSE:UNH), announced its plan to acquire XLHealth Corp, a sponsor of Medicare Advantage health plans. With this acquisition, the company is expected to remain a step ahead of its competitors including WellPoint Inc. (NYSE:WLP)and Aetna Inc. (NYSE:AET) in acquiring Medicare Advantage (MA) business.
Also, as the MA business is expected to grow considerably over the next five years, the latest acquisition will be a big advantage for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ford Plans Layoffs In Europe

Posted: 25 Nov 2011 01:05 PM PST

Ford Motor Co. (NYSE:F) plans to layoff 4,000 workers at its Valencia, Spain assembly plant for 39 days between January and October in 2012 in response to weakening demand for cars in Europe on the back of the ongoing eurozone financial crisis. The plant employs a total of 6,200 workers.
The automaker plans to stop assembling Ford Fiesta hatchback at the plant and instead produce Kuga compact sport- utility vehicle and Transit Connect delivery van.
The present eurozone financial crisis will impact … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

India Ushers In Wal-Mart, Et. Al.

Posted: 25 Nov 2011 12:55 PM PST

Amid the gloom and doom in the global economy, India has decided to open its doors to foreign direct investment (FDI) in the retail sector. The decision had long been hanging fire in the face of severe opposition to liberalizing the sector – a predominant preserve of small retailers and 'corner' shops.
The Associated Chambers of Commerce and Industry of India says that organized retail accounts for 5%-8% of the country’s total retail market despite the presence of several domestic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Nordstrom Inc.

Posted: 25 Nov 2011 12:50 PM PST

Nordstrom Inc. (NYSE:JWN) posted strong results for the third quarter of fiscal 2011, with earnings growth of 11.3% year over year. Earnings were driven primarily by a double-digit growth in total revenue. Earnings per share beat the Zacks Consensus Estimate by a penny.
Third Quarter Highlights
Nordstrom's same-store sales and top-line trends were also encouraging. Total revenue grew 13.6% to $2.5 billion from $2.2 billion in the prior-year period. Moreover, total revenue surpassed the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Donnelley Buys StratusGroup

Posted: 25 Nov 2011 12:40 PM PST

R.R. Donnelley & Sons Co. (NYSE:RRD) recently announced that it has acquired West Chester; Ohio-based StratusGroup, which specializes in customized pressure-sensitive labels and packaging for health & beauty, food, beverage and other segments.
StratusGroup primarily offers UV flexography, UV offset, UV rotary, digital and conventional offset for a range of custom products, including folding carton, insert and multi-pack. The company also offers labeling solutions for bottles. StratusGroup … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Juniper Wins Essar Deal

Posted: 25 Nov 2011 12:35 PM PST

Networking major Juniper Networks (NASDAQ:JNPR) recently won a deal from the India-based multinational conglomerate Essar Group, having diversified business interest in the Iron & Steel, oil, gas and shipping industries among others.
In the past, Juniper has provided secure, multi-platform remote network access solutions to the Essar Group. This deal includes the deployment of the Juniper Networks Junos Pulse Mobile Security Suite and Juniper Networks SA Series SSL VPN Appliances.
This would … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Duke Asks For Rate Hikes

Posted: 25 Nov 2011 12:25 PM PST

Duke Energy Carolinas, a subsidiary of Duke Energy Corporation (NYSE:DUK), has requested to increase base rates in North Carolina in an agreement with North Carolina Utilities Commission ("NCUC").
Under the settlement agreement, Duke has applied for an increase in customer base rates by approximately $310 million, which is based upon a 10.5% return on equity and a 53% equity component of the capital structure.
The proposed rate hike aims to address the quagmire of a challenging economy with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Covidien

Posted: 25 Nov 2011 12:25 PM PST

Health care products major Covidien plc (NYSE:COV) exited fiscal 2011 on a buoyant note on the heels of solid performance of its core Medical Devices division. The Ireland-based company's adjusted earnings per share (from continuing operation) of $1.08 outperformed the Zacks Consensus Estimate of $1.05 and exceeded the year-ago earnings of $0.84.
A Peek into the Fourth Quarter
Profit (from continuing operation) soared 18.5% year over year, powered by higher sales across the board with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 25 Nov 2011 12:25 PM PST

Forexpros – The Euro was lower against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3231, down 0.88% at time of writing.

The pair was likely to find support at 1.3213, today's low, and resistance at 1.3568, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.52% to hit 0.8570 and EUR/JPY falling 0.05% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Up In U.S. Trade

Posted: 25 Nov 2011 12:10 PM PST

Forexpros – The U.S. Dollar was higher against the Canadian Dollar on Friday.

USD/CAD was trading at 1.0491, up 0.19% at time of writing.

The pair was likely to find support at 1.0278, Monday's low, and resistance at 1.0523, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.90% to hit 1.3228 and GBP/USD falling 0.42% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down In U.S. Trading Hours

Posted: 25 Nov 2011 11:45 AM PST

Forexpros – The Euro was lower against the U.S. Dollar on Friday.

EUR/USD was trading at 1.3233, down 0.87% at time of writing.

The pair was likely to find support at 1.3213, today's low, and resistance at 1.3568, Tuesday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.50% to hit 0.8570 and EUR/JPY falling 0.05% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Russian Central Bank Holds Interest Rate At 8.25%

Posted: 25 Nov 2011 11:19 AM PST

The Central Bank of Russia held its benchmark refinancing rate steady at 8.25%.  The Bank said: “Considering recent domestic and international macroeconomic developments the Bank of Russia judged that the current level of money market interest rates was appropriate to balance the inflationary risks and the risks of economic growth slowdown.  The increase in money market interest rates, resulting from the transition to the liquidity shortage in the banking sector … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 25 Nov 2011 11:15 AM PST

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Friday.

AUD/USD was trading at 0.9694, down 0.41% at time of writing.

The pair was likely to find support at 0.9664, Wednesday's low, and resistance at 0.9997, Monday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.50% to hit 1.3644 and AUD/JPY rising 0.38% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Posts Worst Thanksgiving Week Since 1932

Posted: 25 Nov 2011 11:00 AM PST

11/25/11 NYFP’s Closing Bell Report: The Dow Jones closed the abbreviated trading session in the red, posting the worst Thanksgiving week since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Classic Finds New Life In China

Posted: 24 Nov 2011 10:00 PM PST

With a middle class that could to balloon to 1.4 billion people by 2030, China has become a lifeline for automakers looking to keep their profits afloat in a weak global economy. Through October 2011, more than 15 million new vehicles have been purchased in China, according to ChinaAutoWeb*. That's about 3 percent higher than a year ago. Toyota, Audi, Volkswagen, BMW and Nissan are all searching for ways to tap into this fast-growing market.
One of the country's biggest success stories is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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