DailyMarkets.com - Conoco Sets 2012 Capex At $15B

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• Conoco Sets 2012 Capex At $15B
• GMAC Exits Mortgage Loans
• Forex Trading: EURUSD Tests The Day’s High At 1.3485
• Forex Trading: GBPUSD Fails On Move Above 38.2%/trendline On First Test
• Forex Trading: EURUSD Moves Below Friday/Monday Midpoint At 1.34547. 1.3433 Is Next Target.
• More Casualties From The U.S. War On Drugs
• Amdocs Still Neutral
• Ecolab Beefs Up Dividend
• Pfizer Nets Excaliard Pharma
• Apple Fails To Get Injunction In US
• Kraft Pumps More Money In India
• RIMM To Provide For Inventory Loss
• Cloud Computing Rivalry Heats Up
• WDC Raises December Guidance
• Health Insurers Cut 3Q Lobby Cost
• Good News For Mylan
• Micromet Begins New Trial
• Verizon Buying Wireless Spectrum
• J.C Penney Sales Disappoint Again
• The Going May Get Tough In Wireless
• Wall Street Rallies, Financials Soar
• Crude Trades Above $102
• Forex – Dollar Broadly Lower On Renewed Euro Zone Hopes
• Natural Gas Futures Tumble To 2-week Low On Weather Outlook
• Forex – GBP/USD Extends Gains On New E.Z. Plan
• Gold Futures Pare Losses After Merkozy Comments
• Forex – EUR/USD Extends Gains On Merkel/Sarkozy Plan
• U.S. ISM Non-manufacturing PMI Falls To 22-month Low
• U.S. Stocks Rise On French/German Joint Plan; Dow Jones Up 1.27%
• U.S. Factory Orders Fall More-than-expected In October
• Commodity Currencies Lead Majors As Merkel And Sarkozy Reach Agreement
• Crude Oil Rallies Above USD102 As Iran Supply Concerns Mount
• Gold’s 4th Wave Consolidation Nears Completion And Breakout
• Forex – USD/CAD Lower On Euro Zone Hopes
• New Week Sees New Gains
• “Trading Volumes”
• Madoff And The Markets
• 3 Salient Features Of A Good Stock
• 3 Salient Features Of A Good Stock

Conoco Sets 2012 Capex At $15B Posted: 05 Dec 2011 10:05 AM PST ConocoPhillips (NYSE:COP) has set a capital budget of $15.5 billion for the year 2012. Approximately 90% of this amount will be allocated toward exploration and production (E&P). This includes $2.2 billion for worldwide exploration, $0.4 billion of capitalized interest and $0.7 billion for the company's contributions to the FCCL business venture and loans to other affiliates. Approximately 60% of the upstream expenditure is directed at the oil sands in Canada and liquids-rich plays in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GMAC Exits Mortgage Loans Posted: 05 Dec 2011 09:51 AM PST On Friday, GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., announced that it would stop purchasing mortgage loans from the third party in Massachusetts. However, the company would honor all its contractual obligations made as of December 5 as well as continue providing services to its existing customers. Additionally, GMAC will go on offering loans to homeowners through its direct lending unit in the state. GMAC stated that the sudden interruption in new … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests The Day’s High At 1.3485 Posted: 05 Dec 2011 09:48 AM PST The Merkel/Sarkozy press conference gave the EURUSD a boost higher. The correction off the initial move higher retraced to the midpoint of the Friday/Monday range and the ability to hold the level has the pair back up testing the high at 1.3485. A move above this high is needed to propel the pair higher toward the Thursday high at the 1.3520 level. The 1.3546 was the high on Friday. This level tested resistance channel trendline on the daily chart (see chart below).  The trendline today … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Fails On Move Above 38.2%/trendline On First Test Posted: 05 Dec 2011 09:48 AM PST The GBPUSD moved to new highs over the last hour of trading and that move higher took out the 38.2% of the move down from the end of October high. That retracement level comes in at the 1.57052 level. A trendline was also breached at the 1.5707 area (see chart above).  The high reached 1.5715.   The move above key resistance should have led to further upside momentum. However, the price has now dipped below that level and may swing the bias back toward profit taking for the time … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Below Friday/Monday Midpoint At 1.34547. 1.3433 Is Next Target. Posted: 05 Dec 2011 09:48 AM PST The EURUSD has rotated back below the 1st target at the 1.3454 level and will now look to continued the momentum toward the 1.3433 level. This is trendline support and also the old 38.2% of the move down from Friday's high. Looking at the shorter term 5 minute chart, the price also broke below trendline support at the 1.3457 level.  For the intraday bears looking for more selling, staying below this level keeps them satisfied that a test of the next target at the 1.3433 is likely.  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

More Casualties From The U.S. War On Drugs Posted: 05 Dec 2011 09:40 AM PST Some police officers, border patrol agents, and probation officers who support reforming America’s drug laws are among the latest casualties of America’s War on Drugs war on peaceful Americans who chose to use intoxicants not currently approved of by the U.S. government and put them in cages (HTs: Don Boudreaux and Glenn Greenwald), reports the New York Times.  For daring to publicly express their opinion that America’s draconian drug laws should be relaxed, some members of the law … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Amdocs Still Neutral Posted: 05 Dec 2011 09:31 AM PST We reiterate our long-term Neutral recommendation on Amdocs Ltd. (NYSE:DOX). The company's fourth quarter of fiscal 2011 financial results met the Zacks Consensus Estimates.  Amdocs enjoys a strong portfolio of several industry-leading technology integration products for managed services and large transformational projects. Amdocs benefited from the long-term trend toward information technology outsourcing. We believe consolidation of the telecom industry may act as a growth catalyst … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ecolab Beefs Up Dividend Posted: 05 Dec 2011 09:16 AM PST U.S. cleaning and sanitation products major Ecolab Inc (NYSE:ECL) has bumped up its quarterly dividend to 20 cents from 17.5 cents, representing a 14.3% growth. This lifts the annual dividend to 80 cents per share from the current payout of 70 cents. The revised quarterly dividend is payable on January 17, 2012, to shareholders of record as on December 20, 2011. This represents the Minnesota-based company's 20th consecutive annual dividend raise, underscoring its commitment to deliver … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pfizer Nets Excaliard Pharma Posted: 05 Dec 2011 09:02 AM PST The spate of acquisitions in the pharmaceutical industry continues with Pfizer Inc.  (NYSE:PFE) purchasing privately-owned biopharmaceutical company Excaliard Pharmaceuticals, Inc. With this acquisition, Pfizer has added a mid-stage candidate for the treatment of skin scarring to its pipeline. Terms of the Agreement While financial details of the agreement were not disclosed, Pfizer said that it will make an upfront payment to Excaliard. Pfizer will also make contingent payments on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apple Fails To Get Injunction In US Posted: 05 Dec 2011 09:02 AM PST On Friday, Apple Inc. (NASDAQ:AAPL) suffered its second major setback of the week, as the U.S. District Court in San Jose, California, denied Apple an injunction bid to ban Samsung's smartphones and tablets in the US. According to the ruling, the court granted Samsung the right to sell its products in the country until the case goes to trial next year. This is the second jolt to Apple, coming close on the heels of the Australian Federal Court ruling. On November 29, the Australian court ruled in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kraft Pumps More Money In India Posted: 05 Dec 2011 09:02 AM PST Kraft Foods Inc. (NYSE:KFT) is putting in more money into its most profitable operation, Cadbury Kraft India. Kraft Foods has decided to increase its investments in Cadbury India by more than half. The company is now eyeing an annual sales growth of 30% for chocolates. Kraft Foods has keen interest in the growing Indian market, which has significant opportunities in a number of key and yet-to-be-exploited categories. The Indian arm, which has 2,700 employees, is one of Kraft’s top 10 priority … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RIMM To Provide For Inventory Loss Posted: 05 Dec 2011 09:01 AM PST BlackBerry-maker Research In Motion Ltd.,(NASDAQ:RIMM) recently announced that it will provide $485 million for losses relating to the overproduction of PlayBook tablets in the third quarter of 2012. However, the company said that this provision will be non-cash in nature. In order to retain its market share as well as to counter competition, Research In Motion launched its much-hyped QNX-based PlayBook tablets in April, this year. During the quarter, the company shipped around 500,000 tablets. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cloud Computing Rivalry Heats Up Posted: 05 Dec 2011 09:01 AM PST Arch rivals Oracle Inc. (ORCL) and SAP AG (SAP) are gearing up for another battle after the German company announced that it is on the verge of acquiring California-based cloud-computing software company SuccessFactors Inc. (SFSF) for $3.4 billion in cash. SuccessFactors is a leading developer of software used by firms to evaluate employee performance. The acquisition is expected to provide SAP a much needed growth platform in the Software-as-a Service (SaaS) market, where it faces significant … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WDC Raises December Guidance Posted: 05 Dec 2011 09:01 AM PST Disk drive and networking product manufacturer Western Digital Corp. (NYSE:WDC) recently raised its guidance for the December quarter, notwithstanding the severe floods in Thailand, which affected the company's supply chain considerably.  For the upcoming December quarter, the company now expects revenues of approximately $1.8 billion and gross margins at the high end of its targeted range of 18.0% to 23.0%. This apart, the company expects to incur operating expenses of approximately $265.0 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Health Insurers Cut 3Q Lobby Cost Posted: 05 Dec 2011 09:01 AM PST Most of the leading health insurance companies reduced their lobbying costs in the third quarter of 2011, compared with the second quarter, although many recorded a year-over-year increase. WellPoint Inc. (NYSE:WLP), the largest health insurer based on membership, spent $870,000 on lobbying in the third quarter, up 9% from the prior-year quarter. However, the cost was down by a substantial 34% from the second quarter of 2011. The second-largest health insurer based on membership and largest in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Good News For Mylan Posted: 05 Dec 2011 09:01 AM PST Generic maker, Mylan Inc. (NYSE:MYL) recently announced that its Indian subsidiary Mylan Laboratories has received tentative approval from the US Food & Drug Administration (FDA) for a fixed-dose combination of generic versions of Bristol Myers Squibb's (NYSE:BMY) drug Reyataz and Abbott Labs’ (NYSE:ABT) Norvir for the treatment of HIV/AIDS. The fixed drug combination has been pre-qualified to be used in treatment of experienced patients by the World Health Organization (WHO). It can also be used … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Micromet Begins New Trial Posted: 05 Dec 2011 09:01 AM PST Micromet Inc. (NASDAQ:MITI) recently announced that it has begun a mid-stage registrational trial of its lead pipeline candidate, blinatumomab, in adult patients with B-precursor relapsed refractory acute lymphoblastic leukemia (ALL). The trial was advised to be conducted by the US Food & Drug Administration (FDA) to support accelerated approval of blinatumomab. The trial is a single-arm study which will evaluate 65 patients with the primary endpoint of complete remission (CR) or CR with partial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Verizon Buying Wireless Spectrum Posted: 05 Dec 2011 09:01 AM PST The largest U.S. mobile service provider Verizon Communications (NYSE:VZ) has agreed to buy wireless spectrum from a group of cable companies, including Comcast Corporation (NASDAQ:CMCSA), Time Warner Cable (NYSE:TWC) and Bright House Networks. Verizon will acquire 122 radio (or Advanced Wireless Service) spectrum licenses covering 259 million Americans for $3.6 billion. The company will buy $2.3 billion wireless spectrum from the country's largest cable provider, $1.1 billion from Time Warner Cable and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

J.C Penney Sales Disappoint Again Posted: 05 Dec 2011 09:01 AM PST J. C. Penney Company Inc. (NYSE:JCP), a leading retailer of apparel and footwear, accessories, fashion jewelry, beauty products and home furnishings, recently reported sales results for the four-week period ended November 26, 2011. The company's comparable-store sales for November inched down 2% compared with a 9.2% increase in the prior-year period. As per the company, it followed its earlier approach of opening stores at 4 a.m. on Black Friday, which led to a decline in the comparable store … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Going May Get Tough In Wireless Posted: 05 Dec 2011 09:01 AM PST We believe that the wireless majors, AT&T (NYSE:T) and Verizon Communications (NYSE:VZ) may be lulled by the proverbial calm before the possible storm. While these giants remain eminently solid, yet their outlook is opaque. Also, issues such as huge capital costs, uncertain returns on investment, high penetration rates and churn (customer switch) rates provide continued room for concern.     Furthermore, the proposed $39 billion merger between AT&T and T-Mobile USA to create … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Rallies, Financials Soar Posted: 05 Dec 2011 08:15 AM PST 12/05/11 The major equity averages soared at the open, with all eyes on the Euro-zone. Sarkozy and Merkel announced that they reached an agreement to resolve the debt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Trades Above $102 Posted: 05 Dec 2011 03:00 AM PST 12/05/11 Front month crude traded above $102 a barrel this morning as the euro continued to rise against the dollar while production concerns resurfaced concerning OPEC and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Lower On Renewed Euro Zone Hopes Posted: 05 Dec 2011 07:48 AM PST Forexpros – The U.S. dollar pushed broadly lower against its major counterparts on Monday, despite the release of weak U.S. data as renewed hopes for an agreement to arrest the spread of the debt crisis in the euro zone boosted risk appetite. During U.S. morning trade, the dollar was down against the euro, with EUR/USD climbing 0.61% to hit 1.3473. The euro extended early gains after French President Nicolas Sarkozy and German Chancellor Angela Merkel said they favored a change to European … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Tumble To 2-week Low On Weather Outlook Posted: 05 Dec 2011 07:48 AM PST Forexpros – Natural gas futures were down sharply on Monday, tumbling to a two-week low as investors shifted their focus to mild weather which was expected to limit heating demand. On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.487 per million British thermal units during U.S. morning trade, tumbling 2.69%. It earlier fell by as much as 2.9% to trade at USD3.478 per million British thermal units, the lowest since November 21. Industry weather … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Extends Gains On New E.Z. Plan Posted: 05 Dec 2011 07:30 AM PST Forexpros – The pound extended gains against the U.S. dollar on Monday after French and German leaders agreed on a joint plan to tackle the euro zone's debt crisis and following downbeat U.S. data. GBP/USD hit 1.5696 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.5696, gaining 0.62%. The pair was likely to find support at 1.5575, the low of December 2 and resistance at 1.5779, the high of November 30. After meeting with German Chancellor Angela Merkel … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Pare Losses After Merkozy Comments Posted: 05 Dec 2011 07:28 AM PST Forexpros – Gold futures trimmed losses on Monday, easing off a three-day low after comments from German Chancellor Angela Merkel and French President Nicolas Sarkozy added to hopes for progress in tackling the region's debt crisis. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,748.15 a troy ounce during U.S. morning trade, shedding 0.18%. It earlier fell by as much as 0.95% to trade at USD1,732.35 a troy ounce, the lowest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Extends Gains On Merkel/Sarkozy Plan Posted: 05 Dec 2011 07:20 AM PST Forexpros – The euro extended gains against the U.S. dollar on Monday, amid fresh hopes for an agreement to stem the euro zone's debt crisis after French and German leaders said they favored a treaty change in order to enforce stricter budget rules. EUR/USD hit 1.3486 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.3474, gaining 0.62%. The pair was likely to find support at 1.3362, Friday's low and resistance at 1.3549, Friday's high and an eight-day … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. ISM Non-manufacturing PMI Falls To 22-month Low Posted: 05 Dec 2011 07:09 AM PST Forexpros – Service sector activity in the U.S. declined unexpectedly in November, slumping to the lowest level since January 2010, industry data showed on Monday. In a report, the Institute of Supply Management said its non-manufacturing purchasing manager’s index fell by 0.9 points to 52.0 in November from 52.9 in October. Analysts had expected the index to rise by 0.5 points to 53.4 in November. This is the lowest reading since January 2010, when the index registered 50.7 points. On … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Rise On French/German Joint Plan; Dow Jones Up 1.27% Posted: 05 Dec 2011 07:05 AM PST Forexpros – U.S. stocks were sharply higher on Monday, as Franco-German talks on a plan for stricter euro zone budget discipline added to hopes for progress in tackling the region's sovereign debt crisis. During early U.S. trade, the Dow Jones Industrial Average jumped 1.27%, the S&P 500 index soared 1.42%, while the Nasdaq Composite index climbed 1.28%. German Chancellor Angela Merkel and French President Nicolas Sarkozy said that they had agreed on a joint plan to impose strict … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Factory Orders Fall More-than-expected In October Posted: 05 Dec 2011 07:04 AM PST Forexpros – U.S. factory orders declined more-than-expected in October, falling for the second consecutive month official data showed on Monday. In a report, the U.S. Census Bureau said factory orders declined by a seasonally adjusted 0.4% in October, disappointing expectations for a drop of 0.3%. The previous month's figure was revised down to a 0.1% decline from a previously reported 0.3% increase. Following the release of the data, the U.S. dollar held on to losses against the euro, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodity Currencies Lead Majors As Merkel And Sarkozy Reach Agreement Posted: 05 Dec 2011 06:50 AM PST Fundamental Headlines • Merkel, Sarkozy Meeting to Prepare for Brussels – Bloomberg • Euro-zone Economy Heading for Steep Contraction in Q4: PMIs – Reuters • Greek Haircut was a "Terrible Mistake": ECB's Orphanides – Reuters • Federal Reserve Prepares to Make Itself Perfectly Clear – WSJ • Italy Plan Opens Pivotal Week for Euro – WSJ European Session Summary After gapping open higher for the second consecutive week, markets were once again in risk-averse mode … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Rallies Above USD102 As Iran Supply Concerns Mount Posted: 05 Dec 2011 06:37 AM PST Forexpros – Crude oil futures rallied to a two-week high on Monday, trading above USD102-a-barrel as growing geopolitical tensions between Iran and the West continued to fuel concerns over a disruption to supplies from the world's third largest oil exporter. On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD102.12 a barrel during early U.S. morning trade, rallying 1.15%. It earlier rose by as much as 1.45% to trade at USD102.42 a barrel, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold’s 4th Wave Consolidation Nears Completion And Breakout Posted: 05 Dec 2011 06:34 AM PST David A Banister- www.MarketTrendForecast.com Back in August with Gold running to parabolic wave 3 sentiment induced highs, I warned of a major top and multi-month correction.  We all know that the fundamentals for the shiny metal are stronger than ever, but you must keep in mind that the market prices all that in well l in advance.  Coupled with excessively bullish sentiment that was capped off by a USA Today cover with Gold on it, it was easy to see a major sentiment correction and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Lower On Euro Zone Hopes Posted: 05 Dec 2011 06:24 AM PST Forexpros – The U.S. dollar was lower against its Canadian counterpart on Monday, as hopes of progress in dealing with the debt crisis in the euro zone boosted demand for riskier assets. USD/CAD hit 1.0140 during early U.S. trade, the daily low; the pair subsequently consolidated at 1.0156, shedding 0.37%. The pair was likely to find support at 1.0079, the low of December 2 and resistance at 1.0222, the high of December 1. Risk sentiment strengthened ahead of a meeting between German … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Week Sees New Gains Posted: 05 Dec 2011 01:19 AM PST 12/05/11 Eurozone optimism ahead of the EU summit in Brussels teamed led the way for a continuation of the global equity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Trading Volumes” Posted: 05 Dec 2011 01:11 AM PST 12/05/11 NYFP’s Wall Street Lingo: Todd Schoenberger of LandColt Trading discusses trading volumes and the important role they play in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Madoff And The Markets Posted: 05 Dec 2011 12:00 AM PST 12/05/11 NYFP’s “This Week in Wall Street History”: In this installment, the subject is Bernie Madoff and his rise and fall from billiionaire to notorious … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

3 Salient Features Of A Good Stock Posted: 04 Dec 2011 07:46 PM PST By ForexMansion.com Opportunities of investing in stocks are plenty. Perhaps, all of you would like to invest in the stock market and to earn some money. Though apparently it looks very easy to earn money through stock investing, but it is not so easy to pick perfect stocks. Perfect stocks are those stocks which offer high returns to the investors as well as there are no debts associated with those stocks. Moreover, an ideal stock must pay dividends to the stockholders on a regular basis. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

3 Salient Features Of A Good Stock Posted: 04 Dec 2011 07:33 PM PST By ForexMansion.com Opportunities of investing in stocks are plenty. Perhaps, all of you would like to invest in the stock market and to earn some money. Though apparently it looks very easy to earn money through stock investing, but it is not so easy to pick perfect stocks. Perfect stocks are those stocks which offer high returns to the investors as well as there are no debts associated with those stocks. Moreover, an ideal stock must pay dividends to the stockholders on a regular basis. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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