Tuesday, December 6, 2011

DailyMarkets.com - Devon Expands Jackfish Operation

DailyMarkets.com - Devon Expands Jackfish Operation

Devon Expands Jackfish Operation

Posted: 06 Dec 2011 12:35 PM PST

Independent oil & gas company Devon Energy Corporation (NYSE:DVN) received a nod from the Alberta Energy Resources Conservation Board and Alberta Environment and Water to move ahead with its Jackfish 3 start-up project.
Devon has 100% interest in the Jackfish oil sand project in Alberta, Canada. The success of the first two Jackfish projects has encouraged the company to pursue a third phase. With an initial investment of $1.3 billion, Devon will begin to work on this project from January 2012 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Risk Off, Really?

Posted: 06 Dec 2011 12:33 PM PST

Cusick’s Corner
I had a great piece of feedback last night from a reader who said that the “Risk is never off.” His comment was in reference to a subject line that we had, “Risk off Still Holding”. He is right, “Risk” is never off, but it can be mediated and the only way that I can see how to do that is through the use of options/derivatives. Whether it’s a covered call to generate income or a protective put insuring a holding or pairs trade (i.e. long Tech/Short Bonds), and not just a balanced … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Zimmer To Open New Chinese Facility

Posted: 06 Dec 2011 12:20 PM PST

Zimmer Holdings (NYSE:ZMH), a leading player in the field of musculoskeletal care, has decided to set up a new research and development center in Beijing, China. This center would help the company to work on its research and development programs across the region.
Zimmer offers a broad line of reconstructive implant and trauma products as well as orthopedic surgical instruments and supplies. The company recorded a 6.9% increase in revenues during the most recent quarter and witnessed growth across … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Southwestern Stays Neutral

Posted: 06 Dec 2011 12:05 PM PST

We are maintaining our Neutral recommendation on Southwestern Energy Co. (NYSE:SWN), based on its impressive third quarter results that reflected robust volume growth and operational efficiency. These were partially offset by the uncertain price fundamentals for natural gas and drilling challenges.
Based in Houston, Texas, Southwestern engages in the exploration, development and production of natural gas and crude oil in the United States. The company operates in two segments –– Exploration … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Boston Scientific Remains Neutral

Posted: 06 Dec 2011 11:50 AM PST

We maintain our Neutral rating on  Boston Scientific Corporation (NYSE:BSX) as the shares appear to be fairly valued. Headquartered in Natick, Massachusetts, Boston Scientific is a leading player in the field of medical devices.
Despite several initiatives undertaken by the company to revive its flagging top line, we toe a more cautious line as the core segments, ICDs and DES (contributing 40%), as per sales, continued to witness several headwinds. The Cardiac Rhythm Management (CRM) market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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

Posted: 06 Dec 2011 11:45 AM PST

Forexpros – The Euro was higher against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3413, up 0.08% at time of writing.

The pair was likely to find support at 1.3334, today's low, and resistance at 1.3550, Friday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.37% to hit 0.8596 and EUR/JPY falling 0.08% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Entergy, ITC In Asset Sale Pact

Posted: 06 Dec 2011 11:35 AM PST

Entergy Corporation (NYSE:ETR) has entered into a definitive agreement with ITC Holdings Corporation (NYSE:ITC) under which the former will divest its electric transmission business to the latter for gross cash of $1.775 billion. The divested business would be merged with the operations of ITC Holdings.
The transaction will require consent of Entergy’s retail regulators, the Federal Energy Regulatory Commission and ITC shareholders. The company expects the transaction to complete by 2013.
Currently, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Megabus Alternative To Amtrak And High-Speed Rail

Posted: 06 Dec 2011 11:28 AM PST

NEW YORK (WALA) – “Megabus.com , the first city-to-city, express bus service offering fares from $1, announced it is offering 200,000 free seats for travel Jan. 4 to March 1, 2012. Customers can begin booking their free seats now.”

MP: This year’s Megabus promotion offering 200,000 free seats follows last year’s promotion that also gave away 200,000 free seats, which was double the 100,000 seats given away two years ago for Megabus’ first “free seat” promotion.  That brings the total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gilead Delivers Once Again

Posted: 06 Dec 2011 11:20 AM PST

One of the world’s largest drug makers Gilead Sciences, Inc. (NASDAQ:GILD) is riding on the crest of a series of successes. In the third quarter 2011, Gilead announced that the two late stage trials (study 102 and study 103) of its most anticipated HIV pipeline candidate Quad pill (a combination of Gilead pipeline candidates elvitegravir and cobicistat and its marketed HIV drug Truvada) met the primary endpoint. Gilead filed the new drug application (NDA) for approval of Quad in late October 2011.
A … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 06 Dec 2011 11:15 AM PST

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

AUD/USD was trading at 1.0236, down 0.35% at time of writing.

The pair was likely to find support at 1.0151, Thursday's low, and resistance at 1.0324, Friday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.20% to hit 1.3074 and AUD/JPY falling 0.46% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Claims Cost Wells Fargo $75M Again

Posted: 06 Dec 2011 11:05 AM PST

Wells Fargo & Co. (NYSE:WFC) has hit the headlines again and this time for a wrong reason. The company intends to pay $75 million to settle claims with stockholders in a class-action lawsuit alleging Wachovia for misleading investors, according to a Reuters report. For similar allegations, the company had reached a $590 million settlement with bond investors back in August.
The class-action case that included plaintiffs such as the New York City pension funds accused Wachovia for misleading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“S&P…watching Saturday’s Game Today”

Posted: 06 Dec 2011 10:55 AM PST

12/06/11 Sunrise Securities’ Ben Willis discusses S&P’s warning to the EU and recent gains in the financial sector. The ECB meeting and EU summit are also put into … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Thailand Gets First Starwood Aloft

Posted: 06 Dec 2011 10:50 AM PST

Aloft, one of the new lifestyle brands of Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) finally stepped into Thailand on Monday. Located in the heart of Bangkok, the hotel features 296 guest rooms along with tech-savvy amenities.
Starwood set a new trend in hotel designs with its Aloft and has spread its operations globally with more than 55 hotels it opened since its launch in June 2008. The brand rides on a high growth trajectory and has already left its mark in every region including … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Kroger

Posted: 06 Dec 2011 10:50 AM PST

The Kroger Company (NYSE:KR), one of the largest grocery retailers, recently posted better-than-expected third-quarter 2011 results, thereby prompting management to raise its fiscal 2011 earnings guidance.
Street analysts had enough time to ponder on the company's scores. In the paragraphs that follow, we cover the recent earnings announcement, subsequent estimate revisions by analysts as well as the Zacks Rank and long-term recommendation for the stock.
Last Quarter Synopsis
Cincinnati-based … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&P Talks Tough On European Rating

Posted: 06 Dec 2011 10:50 AM PST

Financial markets were in suspense on Tuesday, and the Euro slipped against the greenback after Standard & Poor’s (S&P), a unit of The McGraw-Hill Companies (NYSE:MHP), placed 15 European nations on review for a potential downgrade.
The rating agency stated that it may downgrade the entire block of nations, including six with the highest "AAA" rating, after evaluating the impact of the European summit later this week. Six of these countries — Luxembourg, the Netherlands, Finland, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The U.S. Session

Posted: 06 Dec 2011 10:45 AM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday.

USD/JPY was trading at 77.72, down 0.12% at time of writing.

The pair was likely to find support at 77.49, Thursday's low, and resistance at 78.11, Monday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.08% to hit 1.3391 and GBP/USD falling 0.42% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AutoZone Beats, Profits Up 24%

Posted: 06 Dec 2011 10:40 AM PST

AutoZone Inc. (NYSE:AZO) recorded a 24% rise in profit to $4.68 per share in the first quarter of its fiscal 2012 ended November 19, 2011 from $3.77 per share in the year-ago quarter, beating the Zacks Consensus Estimate of $4.45 per share. In absolute terms, profit increased 11% to $191.1 million from $172.1 million a year ago.
The increase in profit was driven by a 7.4% rise in net sales to $1.92 billion, which surpassed the Zacks Consensus Estimate of $1.90 billion. Domestic same-store sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Catches The Contagion

Posted: 06 Dec 2011 10:35 AM PST

Lack of confidence emanating from the debt crisis in Europe and buoyant — but less than robust — growth in the U.S. has spread to Asia. The Asian Development Bank (ADB) expects the Asian economies to slow down in 2012 in view of the situation in Europe and a weak U.S. economy.
The ADB’s report released today evaluates the Asian economies of Brunei Darussalam, Cambodia, China, Hong Kong, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
ADB … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Transocean Cut To Underperform

Posted: 06 Dec 2011 10:35 AM PST

Following the third quarter earnings miss, we have downgraded offshore drilling giant Transocean Ltd. (RIG) shares to Underperform from Neutral.
Switzerland-based Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. The company owns, has partial ownership interests in, or operates 137 mobile offshore drilling rigs. Transocean's drilling fleet consists of 47 high-specification deepwater floaters, 25 mid-water … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Canada Keeps Rate On Hold At 1.00%

Posted: 06 Dec 2011 10:08 AM PST

The Bank of Canada held its target for the overnight rate unchanged at 1.00%; also holding the Bank Rate at 1.25% and the deposit rate at 0.75%.  The Bank noted: “On balance, recent economic indicators in Canada suggest that growth in the second half of this year is slightly stronger than the Bank projected in October. Household expenditures have more momentum than had been expected and business investment remains solid. Going forward, the weaker external outlook is expected to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Mixed At Close; Dax Down 1.27%

Posted: 06 Dec 2011 10:05 AM PST

Forexpros – European stocks were mixed after the closing bell on Tuesday.

At the close of European trade, Germany's DAX fell 1.27%, London's FTSE 100 gained 0.01%, France's CAC 40 declined 0.68% and the EURO STOXX 50 was down 0.54%.

Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was up 0.31%; the S&P 500 index shed 0.08%, while the Nasdaq 100 index declined … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sky-high November For Southwest

Posted: 06 Dec 2011 08:35 AM PST

12/06/11 Southwest Airlines reported Tuesday that total November traffic rose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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