Wednesday, December 28, 2011

DailyMarkets.com - Apple Fined In Italy

DailyMarkets.com - Apple Fined In Italy

Apple Fined In Italy

Posted: 28 Dec 2011 07:50 AM PST

Italian anti-trust authorities recently slapped a fine of $1.2 million (€ 900,000) on Apple Inc. (AAPL) for misleading consumers regarding assistance services and guarantees for its products. According to a recent report from news agency Reuters, authorities found Apple guilty of violating Italian customer laws.
Under the Italian customer code, products generally carry a two-year guarantee. However, Italian authorities said that notwithstanding this code Apple emphasized on selling its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mild Temperatures Keeping Natural Gas Bulls In Hibernation

Posted: 28 Dec 2011 07:37 AM PST

Wednesday, December 28, 2011
The long-term bearish bias in Natural Gas prices appears to be intact, with little in the way of near-term catalyst to change this outlook. However, it may take an end to the winter heating season for some traders to feel comfortable adding aggressively to their short positions to move prices below 3.000. Given this scenario, some traders who are looking to establish a moderately bearish position in Natural Gas futures may perhaps wish to explore buying a bear put … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Falls To New Lows And Next Target Support

Posted: 28 Dec 2011 07:36 AM PST

The beat goes on with the trend like move today in the GBPUSD. The selling is attributed to technical selling exasperated by illiquid market conditions. The pair is now at the next target support for the pair which comes against parellel channel trendline and lows from December 15th and December 19th.  That support comes in at the 1.5462-80 area.
With the range for the day extending to 218 pips today, there should be some profit taking. However, trends are fast and directional and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Viacom Dominates Film Business

Posted: 28 Dec 2011 07:35 AM PST

Paramount Pictures, the film division of Viacom Inc (NYSE:VIA) is all set to end the ongoing year with box-office revenues of $1.86 billion and 18.86% market share. Time Warner Inc's (NYSE:TWX) Warner Bros. is set to finish second with $1.76 billion in revenues and 17.95% market share, followed by Sony Corp.'s  (NYSE:SNE) Sony Pictures with revenues of $1.33 billion and 12.69% market share.
Warner Bros. had topped the box-office chart in the last four years but this time around was beaten by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shutterfly Lowers 4Q Outlook

Posted: 28 Dec 2011 07:20 AM PST

Redwood City, California-based Shutterfly, Inc (SFLY) recently trimmed its revenue and adjusted EBITDA outlook for the fourth quarter of 2011, due to the challenging economic conditions and fierce discounting war among the competitors during the crucial holiday season.
For the upcoming fourth quarter of 2011, the provider of Internet-based personal publishing services slashed its net sales forecast to $259 million – $264 million from the previous range of $270.5 million – $275.5 million and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Paychex’s New Tax Solution For SMB

Posted: 28 Dec 2011 07:05 AM PST

Paychex Inc. (NASDAQ:PAYX) has recently introduced two new tools that aim at solving certain tax credit related problems for the small and medium businesses (SMBs). The tools, namely Small Business Tax Credit Estimator and Small Business Tax Credit Package, have been innovated by Paychex Insurance Agency, a wholly owned subsidiary of Paychex.
SMBs offering health insurance to their employees are likely to receive certain tax benefits by way of tax credits. These tools will be of immense importance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Decline As EU Concerns Remain; Dow Falls 0.45%

Posted: 28 Dec 2011 07:03 AM PST

Forexpros – U.S. stock markets declined in thin year-end trade on Wednesday, after a successful Italian bond auction failed to ease concerns over the debt crisis in the euro zone ahead of a ten-year debt sale on Thursday.

During early U.S. trade, the Dow Jones Industrial Average fell 0.45%, the S&P 500 index slumped 0.5%, while the Nasdaq Composite index dropped 0.65%.

Trading volumes were expected to remain light following the Christmas break, as many traders have closed books before … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Diageo Hails Responsible Drinking

Posted: 28 Dec 2011 06:50 AM PST

The owner of iconic Johny Walker, Diageo Plc. (NYSE:DEO) has urged its wine lovers to drink responsibly this festive season.
The retail giant is taking several steps to promote responsible drinking and ensure safe journey back home after a festive nigh out.
Diageo will be distributing thousands of free water bottles that will provide the party-goers with tips on responsible drinking. These bottles will be distributed on the popular party nights of this festive season in the busiest party circuits … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Hover Below USD101 With Italy, Iran In Focus

Posted: 28 Dec 2011 06:45 AM PST

Forexpros – Crude oil futures were down for the first time in seven sessions on Wednesday, easing off a three-week high after a successful Italian bond auction failed to ease concerns over the debt crisis in the euro zone and as fears over a disruption to Iranian oil supplies receded.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD100.73 a barrel during early U.S. morning trade, slumping 0.6%.

It earlier fell by as much as 0.71% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NY Times Confirms Divestiture

Posted: 28 Dec 2011 06:35 AM PST

The New York Times Company (NYSE:NYT) now confirmed that it is selling its Regional Media Group segment – consisting of 16 regional newspapers, print publications and associated ventures – to Halifax Media Holdings LLC, the proprietor of The Daytona-Beach News Journal in Florida, for $143 million in cash.
The deal, which is expected to conclude within a few weeks, will result in after-tax proceeds of approximately $150 million. The New York Times Company hinted that the after-tax gain on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Italian Bonds May Prop Market

Posted: 28 Dec 2011 06:30 AM PST

With nothing major on the domestic economic calendar today, stocks will likely get a lift from the sharp drop in Italian government bond yields. But trading volumes are expected to remain light due to seasonal factors.
Italy sold €9 billion of 6-month Treasury bills at a 3.25% yield, roughly half of what the country had to pay for the same maturity in last month’s auction. Demand was also a lot stronger than a month ago. Yields on Italian government bonds have come down in the secondary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DoJ’s Ruling Acts As Bliss For IGT

Posted: 28 Dec 2011 06:30 AM PST

The casino operators and game providers may just have got their Christmas gift. Well, they stand to gain only if the report of the Department of Justice (DoJ) being en route to legalize most forms of online gambling within its borders is true.
As reported, the ruling enables the states to allow online lottery tickets and other forms of online gambling games to its residents. The casino operators like Las Vegas Sands Corp. (NYSE:LVS) and MGM Resorts International (NYSE:MGM) stand to benefit from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: ConocoPhillips, Parlux Fragrances, Perfumania Holdings, Inc, Sears Holdings Corporation

Posted: 28 Dec 2011 06:30 AM PST

    Share prices of oil and gas company Endeavour International Corp (END) increased 24.06% after the company agreed to purchase a stake in three oil fields from ConocoPhillips’ (NYSE:COP) for $330 million

    Retailer Sears Holdings Corp.'s (NASDAQ:SHLD) shares plummeted 27.20% to close at $33.38 after it confirmed plans to shut 100 stores. Sears also reported continuing sales troubles in the current quarter

    Oil and gas company Magnum Hunter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Light Trading Continues; Kiwi Tops Majors, U.S. Dollar Lags

Posted: 28 Dec 2011 06:25 AM PST

European Session Summary
Trading conditions remained thin on Wednesday, Typically, the weeks leading up to and after Christmas are slow, as many trading desks around the world are closed. Higher yielding currencies had outperformed headed into the North American trading session, but the Euro continued to lag.
The short-term Italian bond auction went off without a hitch this morning, actually surprising most market participants to the upside. With the rate at which to borrow for 179-days cut in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: NZDUSD Testing Last Weeks Highs At The 0.7773 Area.

Posted: 28 Dec 2011 06:24 AM PST

The best performing currency pair today against the USD is the NZD. The pair tested the 100 hour MA earlier today and failed on a break of the key level (see blue line in the hourly chart above). This gave traders a reason to buy and the pair has moved steadily higher since that time.
Now the pair is consolidating near the high reached last week at the 0.7773 level. The price moved above this level on a few separate hourly bars today but each move higher has found profit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Falls Sharply

Posted: 28 Dec 2011 06:24 AM PST

Forex – USD/CAD Drops To 3-week Low On Oil Price Strength

Posted: 28 Dec 2011 06:22 AM PST

Forexpros – The U.S. dollar fell to a three-week low against its Canadian counterpart in thin year-end trade on Wednesday, after an Italian bond auction showed a sharp drop in yields, while ongoing strength in crude prices provided further support.

USD/CAD hit 1.0125 during early U.S. morning trade, the pair's lowest since December 8; the pair subsequently consolidated at 1.0140, shedding 0.46%.

The pair was likely to find support at 1.0051, the low of December 8 and resistance at 1.0176, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sears To Live Free Or Die Hard

Posted: 28 Dec 2011 06:10 AM PST

Surely the time has come for Sears Holdings Corporation (NASDAQ:SHLD), the fourth largest broadline retailer in the U.S., to break out of its loss streak and come up with innovative ideas to boost its financial performance and rise from the ashes.
The company has long been grappling with weak top-line performances and even weaker bottom-line results. Further, Sears received a setback as the company reported a decline of 5.2% in its comparable store sales during the busiest shopping period of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Slumps To 3-week Low After Italian Bond Sale

Posted: 28 Dec 2011 05:53 AM PST

Forexpros – The U.S. dollar added to losses against the yen in thin, post-holiday trade on Wednesday, as a successful Italian bond auction failed to ease concerns over the debt crisis in the euro zone ahead of a ten-year debt sale on Thursday.

USD/JPY hit 77.57 during European afternoon trade, the pair's lowest since December 12; the pair subsequently consolidated at 77.58, falling 0.38%.

The pair was likely to find short-term support at 77.48, the low of December 9 and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Freeport Workers Halt Return To Work

Posted: 28 Dec 2011 05:50 AM PST

Workers at Freeport McMoran Copper & Gold Inc.'s (NYSE:FCX) mine in Indonesia may delay returning to work due to the pending decision on the removal of about 100 workers at a local unit. Earlier, the workers entered a deal with management to end this three-month strike. 
The workers at Freeport Indonesia's Grasberg mine in the eastern province of Papua were supposed to gradually return to work. The strike has crippled output and exports of the world's second-biggest copper … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CBSH To Return Overdraft Fees

Posted: 28 Dec 2011 05:35 AM PST

Commerce Bancshares Inc. (NASDAQ:CBSH) has hit the headlines for manipulating overdraft fees. Last week, the U.S. District Court of Southern District of Florida (Miami) ordered CBSH to pay back $18.3 million to its customers, who were charged with inappropriate overdraft fees by the company.
The court has held CBSH responsible for manipulating transaction entries to generate larger overdraft fees. Besides, transactions were re-sequenced by the bank so that the largest withdrawals were deducted first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cotton Futures Soar To 2-week High In Thin Trade

Posted: 28 Dec 2011 05:34 AM PST

Forexpros – Cotton futures were up for a second day on Wednesday, soaring to a two-week high as buying from small investors amid thin trade conditions resulted in exaggerated moves to the upside.

On the ICE Futures U.S. Exchange, cotton futures for March delivery traded at USD0.9065 a pound during European afternoon trade, surging 3.1%.

It earlier rose by as much as 3.15% to trade at USD0.9067 a pound, the highest since December 12.

Trading volumes were expected to remain light following … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ERJ Rolls Out Legacy, Delivers Jets

Posted: 28 Dec 2011 05:20 AM PST

Embraer S.A (ERJ) recently rolled out its novel executive jet, the midsize Legacy 500, from São José dos Campos headquarter in Brazil. The aircraft's first flight is scheduled for the third quarter of 2012. The rollout calls for a prior phase of evaluation, development and ground tests before launch.
The aircraft is powered by two Honeywell HTF 7500E turbofan engines, each one producing 6,540 pounds of thrust at takeoff; allowing the aircraft to fly at a high-speed cruise of Mach 0.82, at a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Job Creation Is The Price We Pay For Obamacare: From “Hire-and-Grow” To “Cut-and-Survive”

Posted: 28 Dec 2011 05:16 AM PST

Andrew Puzder, CEO of CKERestaurants, writing in Bloomberg:

“Our company, CKE Restaurants Inc., employs about 21,000people (our franchisees employ 49,000 more) in Carl's Jr. andHardee's restaurants. For months, we have been working withMercer Health & Benefits LLC, our health-care consultant, toidentify Obamacare's potential financial impact on CKE. Mercerestimated that when the law is fully implemented our health-carecosts will increase about $18 million a year. That would put … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Stocks Edge Higher As Sentiment Improves; DAX Up 0.1%

Posted: 28 Dec 2011 05:08 AM PST

Forexpros – European stock markets turned higher on Wednesday, as sentiment slightly improved after a successful Italian bond auction but investors remained cautious ahead of a ten-year bond sale scheduled on Thursday.

During European afternoon trade, the EURO STOXX 50 advanced 0.2%, France's CAC 40 climbed 0.35%, while Germany's DAX 30 rose 0.1%.

With most investors already away on year-end leave, trading volumes were thin, resulting in tight liquidity conditions and irregular … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed To Lower In Thin Trade, Focus On Euro Zone

Posted: 28 Dec 2011 04:47 AM PST

Forexpros – The U.S. dollar was mixed to lower against its major counterparts in subdued trade on Wednesday, as markets were jittery ahead of a ten-year Italian bond auction despite a successful short term debt sale earlier in the day.

During European afternoon trade, the dollar was flat against the euro, trading within striking distance of an eleven-month low.

With most investors already away on year-end leave, trading volumes were low, resulting in subdued trade.

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

Crony Capitalism Shuts India’s Doors To Wal-Mart

Posted: 28 Dec 2011 04:46 AM PST

From my editorial in today’s Investor’s Business Daily (with Sy Banerjee and Tom Hemphill):

India’s Prime Minister Manmohan Singh and his Congress Party recently capitulated to political pressure and reversed their earlier decision to expand foreign direct investment in India’s nearly $400 billion retail sector, which would have bolstered a slowing domestic economy and created millions of new jobs. Call it India’s version of America’s recent “Keystone XL pipeline cop-out” — and an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Which Republican Will Win The Iowa Caucus?

Posted: 28 Dec 2011 04:31 AM PST

With the Iowa caucus now less than a week away, let's run an unscientific poll.
1. Whom do readers believe will win the Iowa caucus?
2. Whom do readers hope wins the Iowa caucus?
3. Whom do readers believe will be the ultimate Republican Presidential nominee?
4. Whom do readers believe presents the greatest chance to win the general election?
Please feel free to make any other editorial comments.
Larry … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Steady After Italian Bond Auction

Posted: 28 Dec 2011 04:30 AM PST

Forexpros – The pound was steady against the U.S. dollar in thin year-end trade on Wednesday, after a well-received Italian bond auction as investors remained cautious ahead of a second government bond sale programmed on Thursday.

GBP/USD hit 1.5692 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.5672, easing up 0.02%.

Cable was likely to find support at 1.5595, Tuesday's low and resistance at 1.5728, the high of December 22.

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

Forex – EUR/USD Range Bound Ahead Of Italian 10-year Debt Sale

Posted: 28 Dec 2011 04:14 AM PST

Forexpros – The euro was almost unchanged against the U.S. dollar in thin trade on Wednesday, as a successful Italian bond auction failed to ease concerns over the debt crisis in the euro zone ahead of a ten-year debt sale on Thursday.

EUR/USD hit 1.3057 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.3068, easing 0.02%.

The pair was likely to find support at 1.3016, the low of December 22 and resistance at 1.3131, the high of December 20.

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

U.S. Futures Higher On Italian Bond Sale; Dow Jones Up 0.25%

Posted: 28 Dec 2011 03:57 AM PST

Forexpros – U.S. stock futures pointed to a moderately higher open in thin year-end trade on Wednesday, as sentiment improved after a well-received Italian bond auction, although investors remained focused on a second sale scheduled Thursday.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.25%, S&P 500 futures signaled a 0.27% increase, while the Nasdaq 100 futures indicated a 0.27% gain.

With most investors already away on year-end leave, trading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Corn Rallies To 6-week High On South America Weather Outlook

Posted: 28 Dec 2011 03:38 AM PST

Forexpros – Corn futures rallied to for an eighth day on Wednesday, trading at the highest level since mid-November amid lingering concerns over dry weather conditions in South America and after an Italian bond auction showed a sharp drop in yields.

On the Chicago Mercantile Exchange, corn futures for March delivery traded at USD6.3612 a bushel during European morning trade, gaining 0.46%.

It earlier rose by as much as 0.55% to trade at USD6.3638 a bushel, the highest since November … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Vulnerable Despite Successful Italian Bond Sale

Posted: 28 Dec 2011 03:19 AM PST

Forexpros – The euro traded close to an eleven-month low against the U.S. dollar on Wednesday and was mixed against its other major counterparts, as markets were jittery despite a well-received Italian debt sale while investors eyed a second auction scheduled on Thursday.

During European early afternoon trade, the euro was flat against the U.S. dollar, with EUR/USD hitting 1.3072.

Trading volumes remained low seeing as many traders closed books to lock in profit before the end of the year, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Range Bound After Italian Debt Sale

Posted: 28 Dec 2011 03:05 AM PST

Forexpros – The euro was almost unchanged against the pound in thin post-holiday trade on Wednesday, after a well-received Italian bond auction showed a sharp drop in yields.

EUR/GBP hit 0.8348 during European morning trade, the daily high; the pair subsequently consolidated at 0.8341, easing up 0.02%.

The pair was likely to find support at 0.8314, the low of December 23 and resistance at 0.8372, the previous day's high.

With most investors already away on year-end leave, trading volumes … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Singapore Stock Market Update For Wednesday 28 December

Posted: 27 Dec 2011 11:30 PM PST

Market trades cautiously before ending 2011. We expect volume to pick up after New Year. For conservative investors, we advise to stand on the sideline for now as market has no direction. What we are sure is that 2,700 is a strong resistance.

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

Reader Favorites: Top 10 Commentaries Of 2011

Posted: 27 Dec 2011 10:00 PM PST

As we celebrate the holiday season after a challenging year, I am reminded that the most important gifts are love, friendship and goodwill. Alexander Green from InvestmentU shared that sentiment in his newsletter last week highlighting the wonderful story of how Charles Dickens overcame adversity to reshape the way many look at Christmas. Read Alex's piece here.
This week I thought we'd take a moment to reflect on the eventful year it's been for gold, natural resources and emerging … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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