Wednesday, December 21, 2011

DailyMarkets.com - Ecolab Relocating German Facilities

DailyMarkets.com - Ecolab Relocating German Facilities

Ecolab Relocating German Facilities

Posted: 21 Dec 2011 10:10 AM PST

U.S. cleaning and sanitation products major Ecolab Inc (NYSE:ECL) has divulged its plans to relocate its German offices and R&D operations from Dusseldorf to a new high-tech innovation center in Monheim am Rhein.
The new location will house the Minnesota-based company's R&D, engineering as well as local sales and marketing functions. The Monheim am Rhein facility will have a world-class customer innovation center, where Ecolab's innovative program and service solutions will be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valmont Reorganizes, Guides High

Posted: 21 Dec 2011 09:50 AM PST

Valmont Industries, Inc. (NYSE:VMI) announced that it will record a one-time earnings benefit of about $2.66 a share in the fourth quarter after the company reorganized its Delta business to take advantage of losses it can write off from taxes.
The company also raised its full-year earnings guidance, indicating that profit will modestly exceed its previously forecast range of $5.70 to $5.90 per share due to stronger performance in all its main business segments. Valmont had previously forecast … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

HSBC To Sell Banking Unit In Japan

Posted: 21 Dec 2011 09:35 AM PST

In yet another attempt to revamp its operations, stabilize capital levels and improve efficiency, HSBC Holdings Plc (NYSE:HBC) has announced the plan to sell its private banking unit in Japan to Credit Suisse Group (NYSE:CS). This is a part of the company's long-term strategy to bring down its operating expenses. Back in May 2011, the CEO of the company had announced plans to reduce the operating expenses by $3.5 million by the end of 2013 through restructuring and contraction of its global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vistaprint To Take Over Webs

Posted: 21 Dec 2011 09:25 AM PST

Vistaprint N.V. (VPRT) recently signed a definitive acquisition agreement with Webs, Inc., the do-it-yourself suite of websites, Facebook Pages and mobile presence solutions for small businesses. Per the agreement, Vistaprint will acquire Webs for $117.5 million, of which $100.0 million will be in cash and $17.5 million in restricted shares. The transaction is expected to close within one month.
There is a bunch of attributes that made Webs a lucrative acquisition target. Its free website and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURCHF Moves Higher On SNB Comments

Posted: 21 Dec 2011 09:22 AM PST

The Swiss Finance Ministers comments that they are exploring capital controls including negative rates and that the Swiss goveenment considers the CHF overvalued has sent the EURCHF to the upside.

From a technical perspective, the pair has moved above the 100 hour MA in the process at the 1.2203 level. This will now be support for the pair. The next target for the pair is the 1.22519 level which is the 38.2% of the move down from the high just prior to the SNB interest rate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Keeps The Bearish Bias

Posted: 21 Dec 2011 09:22 AM PST

The EURUSD has been in a narrow trading range over the last 3-4 hours of trading. The high has been 1.3062. The low 1.3023.  The recent corrective high was just above the 38.2% of the move down from the days high. This keeps the bias more to the downside. Buyers of dips need to prove they have the power to send the price above the 38.2%. If they can't the bears remain in control. Look for intraday sellers against the 1.3060 level with stops above the level. 
A move above the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gilead’s Candidate Under EMA Review

Posted: 21 Dec 2011 09:10 AM PST

Gilead Sciences Inc. (NASDAQ:GILD) announced recently that the European Medicines Agency (EMA) has accepted for review the marketing authorisation application (MAA) filed by the company for its HIV combination pill, Quad. The application, seeking marketing approval for Quad in the EU, was filed by Gilead on November 24, 2011.
Quad refers to a single tablet regimen (STR) of Gilead's elvitegravir, cobicistat, a boosting agent to facilitate the once-daily dosing of elvitegravir and Truvada. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Ghana Holds Lending Rate At 12.50%

Posted: 21 Dec 2011 08:56 AM PST

The Bank of Ghana held its key lending rate unchanged at 12.50%.  Bank of Ghana Governor, Kwesi Amissah-Arthur, said: “The thrust of monetary policy in 2011 is to further strengthen macroeconomic stability, delivering an end-year inflation of 9.0 per cent (with an annual average rate of 8.7 percent) and accumulation of gross external reserves of not less than 3-months of import cover. Latest revised GDP figures from the Ghana Statistical Service estimate real GDP growth at 13.6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WPPGY On An Acquisition Spree

Posted: 21 Dec 2011 08:50 AM PST

Advertising titan, WPP plc's (NASDAQ:WPPGY) leading advertising and marketing communications network, Ogilvy & Mather recently acquired about 49% interest in a Chinese advertising agency, Nanjing Yindu Advertising and Commerce Co., Ltd.
The strategic investment immensely supports the company's expansionary plans in China, especially in the important Yangtze River Delta region. Yindu was founded in 1994 and currently employs over 250 people. The agency reported roughly RMB 57.8 million in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ceska Narodni Banka Holds Repo Rate At 0.75%

Posted: 21 Dec 2011 08:47 AM PST

The Ceska Narodni Banka held the two-week repurchase rate at 0.75% as expected, and kept the discount rate unchanged at 0.25% and Lombard rate at 1.75%.  The Bank said: “The risks to the forecast for inflation and interest rates are slightly on the upside compared to the baseline scenario of the existing forecast.  The risks to the forecast for GDP and the exchange rate are tilted towards the alternative scenario as foreign developments have moved towards the materialisation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Vulcan To Merge Operating Regions

Posted: 21 Dec 2011 08:40 AM PST

Vulcan Materials Company (NYSE:VMC) recently announced its plan to consolidate its eight operating regions into four, namely East, South, Central and West. The strategic move on the company's part is aimed at reducing overhead costs and increasing operating efficiency.
The preliminary decision was taken by the senior management during the first half of the year but the approval from the company's Board of Directors was received at its quarterly meeting on December 09, 2011.
The company had … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

One More Mondrian In Europe

Posted: 21 Dec 2011 08:40 AM PST

Morgans Hotel Group Co. (NASDAQ:MHGC) recently penned a 20-year management agreement with a Mondrian-branded hotel in Istanbul. The agreement has a 10-year extension option. The property will be owned by Bella Group. Per the deal, upon completion and inauguration in 2014, Morgans will continue to operate the hotel. The US hotelier will infuse approximately $10 million in the form of equity and key money and will enjoy a 20% ownership interest in the venture. 
The 128-room property will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Praxair Escalates Gas Prices

Posted: 21 Dec 2011 08:40 AM PST

Praxair Inc.(NYSE:PX) together with its divisions and subsidiaries has announced escalation in product prices, facility fees/monthly basic charges and other items in order to cover the increasing expenses of manufacturing, distribution, and raw material sourcing costs.  
Prices of nitrogen, oxygen, argon, hydrogen, carbon dioxide and helium have gone up by 15% while facility fees or monthly basic charges and cylinder rental rates soared by 15%. Prices of equipment and consumables were raised … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

More On The Dismal Legacy Of Communism In N. Korea

Posted: 21 Dec 2011 08:40 AM PST

The chart above shows another comparison of the economies of North and South Korea, based on data from Angus Maddison.  Between 1950 and the early 1970s, real GDP per capita in South Korea was exactly the same as in North Korea.  As South Korea implemented market reforms, its economy and output per person started consistently rising while economic conditions to the north stagnated.  After forty years of market-based growth, real GDP per capita is now about 17.5 time higher in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Down, Oracle Drags Tech Lower

Posted: 21 Dec 2011 08:10 AM PST

12/21/11 US stocks dipped into negative territory, with the tech sector weighed down by Oracle’s earnings results. The ECB’s largest liquidity operation provided €489.2 billion in three-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Remains Broadly Higher In Thin Trade

Posted: 21 Dec 2011 08:00 AM PST

Forexpros – The U.S. dollar remained broadly higher against its major counterparts on Wednesday, amid renewed concerns over the debt crisis in the euro zone despite a record refinancing operation by the European Central Bank earlier in the day.

During U.S. morning trade, the dollar was higher against the euro, with EUR/USD shedding 0.26% to hit 1.3047.

Risk appetite was hit as Italian and Spanish short-term borrowing costs crept higher, even after the ECB allotted EUR489.19 billion in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Pares Gains In Risk-off Trade

Posted: 21 Dec 2011 07:49 AM PST

Forexpros – The pound pared gains against the U.S. dollar on Wednesday, pulling back from a nine-day high as initial optimism following a refinancing operation by the European Central Bank gave way to renewed fears over the euro zone's debt crisis.

GBP/USD retreated from 1.5773, the pair's highest since December 8, to hit 1.5671 during U.S. morning trade, up just 0.05% on the day.

Cable was likely to find support at 1.5657, the days low and resistance at 1.5773, the days high and a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Top USD99 After Large U.S. Supply Drop

Posted: 21 Dec 2011 07:48 AM PST

Forexpros – Crude oil futures added to gains in volatile trade on Wednesday, briefly topping USD99-a-barrel after government data showed U.S. crude supplies fell by the most since February 2001 last week to a two-year low.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD98.80 a barrel during U.S. morning trade, rallying 1.6%.

It earlier rose by as much as 1.97% to trade at USD99.23 a barrel, the highest since December 14.

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

Forex – EUR/USD Erases Early Gains On Fresh Euro Zone Concerns

Posted: 21 Dec 2011 07:34 AM PST

Forexpros – The euro was down against the U.S. dollar on Wednesday, retreating from a one-week high as Italian and Spanish short-term borrowing costs crept higher despite a huge injection of liquidity by the European Central Bank earlier in the day.

EUR/USD pulled back from 1.3196, the pair's highest since December 13, to hit 1.3052 during U.S. morning trade, slipping 0.22%.

The pair was likely to find support at 1.2992, Tuesday's low and resistance at 1.3196, the days high.

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

Natural Gas Futures Drop With Weather, Supply Data In Focus

Posted: 21 Dec 2011 07:28 AM PST

Forexpros – Natural gas prices declined on Wednesday, trading close to the lowest level in more than two years as forecasts for warmer-than-normal winter weather in the U.S. continued to underline the view that gas supplies are more than ample to meet U.S. winter-heating needs.

On the New York Mercantile Exchange, natural gas futures for January delivery traded at USD3.102 per million British thermal units during U.S. morning trade, dropping 0.85%.

It earlier fell by as much as 1.35% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Existing Home Rise Less-than-expected In November

Posted: 21 Dec 2011 07:14 AM PST

Forexpros – U.S. existing home sales rose significantly less-than-expected in November, while the previous month's figure was revised down by nearly 14% industry data showed on Wednesday.

In a report, the National Association of Realtors said that existing home sales rose by 4% to a seasonally adjusted 4.42 million units in November, falling significantly short of expectations for a gain of 15.5% to 5.03 million units.

Existing home sales in October was revised down by nearly 14% to 4.25 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Broadly Lower, Oracle Plunges; Dow Falls 0.4%

Posted: 21 Dec 2011 07:05 AM PST

Forexpros – U.S. stock markets were broadly lower after the open on Wednesday, as risk sentiment was dented after a refinancing operation by the European Central Bank failed to ease investor concerns over the debt crisis in the euro zone.

During early U.S. trade, the Dow Jones Industrial Average fell 0.4%, the S&P 500 index dropped 0.55%, while the Nasdaq Composite index tumbled 1.6%.

The ECB allotted EUR489.2 billion to 523 European lenders in its first offer of unlimited three-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Trims Losses In Risk-off Trade

Posted: 21 Dec 2011 06:52 AM PST

Forexpros – The U.S. dollar trimmed losses against its Canadian counterpart in holiday thinned trade on Wednesday, as concerns over the financial crisis in the euro zone lingered despite a huge liquidity injection by the European Central Bank.

USD/CAD pulled away from 1.0208, the pair's lowest since December 12, to hit 1.0287 during early U.S. trade, down just 0.09% on the day,

The pair was likely to find support at 1.0208, the session low and resistance at 1.0308, the session … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets Move On ECB Loan Program

Posted: 21 Dec 2011 06:15 AM PST

12/21/11 The global markets were indeed moving this morning following the ECB’s announced loan program saw 523 banks borrow €489 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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