Thursday, December 1, 2011

DailyMarkets.com - FTI Upgraded To Outperform

DailyMarkets.com - FTI Upgraded To Outperform

FTI Upgraded To Outperform

Posted: 01 Dec 2011 07:50 AM PST

We have upgraded our rating on Baltimore, Maryland-based FTI Consulting Inc. (NYSE:FCN), a global business advisory firm, to Outperform from Neutral.
The rating was upgraded as FTI's corporate finance and restructuring service segment, which has been a significant drag on the company's results since early 2010, has rebounded to post its first year-over-year increase in six quarters. EBITDA margin was also up 3.2% to 25.7%. The upside in results was driven by growth in the communications, media … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Is The Risk-off Really Off?

Posted: 01 Dec 2011 07:35 AM PST

Thursday, December 1, 2011
Bond prices have come under pressure in recent sessions, which is likely due to traders taking on increased risk. This was triggered by a wave of positive retail and economic data, but risks to the economy and Europe have been largely ignored. Technically, the market may have seen some long liquidation due to the Bond market’s inability to break through the 145 level. The market is now nearing support at 140, and many traders will be anxiously watching how the market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aeropostale Beats, Profit Dips

Posted: 01 Dec 2011 07:31 AM PST

Increased markdowns, lower comparable-store sales and contracting merchandise margins dragged down the third-quarter 2011 results of Aeropostale Inc. (NYSE:ARO), a retailer of active and casual clothing and accompaniments for youths.
The company reported earnings per share of 30 cents, down 55.2% from the prior-year earnings of 67 cents a share. However, the reported earnings fared better than the Zacks Consensus Estimate of 27 cents a share.
Quarter in Detail
Moving on to its top-line result, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Advanced Analogic Technologies, AMR, Bank Of America, Citigroup, Goldman Sachs Group, Jos. A. Bank Clothiers, Morgan Stanley, Skyworks Solutions

Posted: 01 Dec 2011 07:25 AM PST

    Jos. A. Bank (NASDAQ:JOSB) posted Q3 EPS of $0.54, higher than the Zacks Consensus Estimate of $0.51 per share. Revenues increased 21% year over year to $209.6 million

    Skyworks Solutions Inc. (NASDAQ:SWKS) said it will acquire Advanced Analogic Technologies Inc. (NASDAQ:AATI) for $5.80 per share. Following this development, shares of Skyworks Solutions increased 12.41% to close at$16.31

    Drug developer Adeona Pharmaceuticals Inc.'s (AMEX:AEN) share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Safeway Inflates $1B Stock Buyback

Posted: 01 Dec 2011 07:25 AM PST

Recently  the board of directors of Safeway Inc. (NYSE:SWY) approved an additional $1.0 billion to the company’s stock repurchase program, thus bringing the total authorization level to $8.0 billion. At the end of third quarter 2011, Safeway repurchased $6.1 billion worth shares and was left with $0.9 billion under its existing stock repurchase program. This is noteworthy that Safeway’s stock repurchase authorization does not have an expiration date.
Despite the current volatile macro … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CoreFirst Selects FIS Platform

Posted: 01 Dec 2011 07:05 AM PST

Fidelity National Information Services Inc (FIS) recently announced that its debit card processing and card personalization services have been selected by Topeka, Kansas-based CoreFirst Bank & Trust.
CoreFirst Bank & Trust operates 36 branches in Kansas and Colorado and was the first bank in the region to provide automated checking, ATMs with 24-hour access and extended banking hours.
Earlier, CoreFirst used its own software for card processing and personalization services. The shift to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Mixed After Weak Jobless Claims; Dow Jones Down 0.10%

Posted: 01 Dec 2011 06:57 AM PST

Forexpros – U.S. stocks were mixed on Thursday, after downbeat U.S. jobless data and as concerns over the debt crisis in the euro zone continued to weigh on market sentiment.

During early U.S. trade, the Dow Jones Industrial Average fell 0.10%, the S&P 500 index eased up 0.02%, while the Nasdaq Composite index rose 0.46%.

The U.S. Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, climbing above 400,000 for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Autodesk To Buy Horizontal Systems

Posted: 01 Dec 2011 06:50 AM PST

Autodesk Inc. (NASDAQ:ADSK) has inked an agreement to acquire Horizontal Systems, a cloud-based Building Information System (BIM) solutions provider. Pursuant to the deal, Horizontal's BIM solutions are expected to be incorporated into Autodesk 360. Financial details of the deal, which is expected to close in the fourth quarter of fiscal 2012 (Jan 31, 2012)  were not disclosed.
The acquisition is expected to boost Autodesk's cloud-based BIM. Autodesk and Horizontal clients will now enjoy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Almost Unchanged Despite U.S. Jobs Data

Posted: 01 Dec 2011 06:39 AM PST

Forexpros – The U.S. dollar was almost unchanged against its Canadian counterpart on Thursday, despite official data showed that U.S. jobless claims rose unexpectedly last week.

USD/CAD hit 1.0223 during early U.S. trade, the daily high; the pair subsequently consolidated at 1.0177, inching up 0.01%

The pair was likely to find support at 1.0123, Wednesday's low and a 12-day low and resistance at 1.0293, the high of November 17.

The U.S. Department of Labor said new claims for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Watson Brings Lipitor’s Generic

Posted: 01 Dec 2011 06:30 AM PST

In what seems like one of the biggest generic launches in the history of US, Watson Pharmaceuticals, Inc. (NYSE:WPI) announced the launch of an authorized generic version of Pfizer Inc.'s (NYSE:PFE) drug, Lipitor. Pfizer markets Lipitor as an adjunct to diet to reduce elevated total cholesterol, LDL (bad cholesterol), triglycerides and to increase HDL (good) cholesterol.
According to the supply and distribution agreement, Pfizer will manufacture and supply all dosage strengths of the authorized … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Turn Modestly Lower After U.S. Jobless Data

Posted: 01 Dec 2011 06:30 AM PST

Forexpros – Crude oil futures turned modestly lower on Thursday, dipping briefly below the key USD100-a-barrel level after a report showed an unexpected increase in U.S. jobless claims, while concerns over a potential disruption to Iranian supplies continued to underpin prices.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD100.05 a barrel during early U.S. morning trade, shedding 0.3%.

It earlier fell by as much as 0.4% to trade at a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Expect Enthusiasm To Wane

Posted: 01 Dec 2011 06:16 AM PST

A day after indicating a shift in its monetary policy stance for the first time since late 2008, China is again in the news today, but this time with reports of slowing manufacturing activities. The China report, coupled with the weak Initial Jobless Claims data on the home front, will likely dampen the market’s enthusiasm so vividly on display in Wednesday’s monster rally. But some introspection would be called for anyway following such sharp gains.
The Chinese Purchasing Managers Index (PMI) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

United Natural Posts EPS In Line

Posted: 01 Dec 2011 06:16 AM PST

United Natural Foods Inc. (NASDAQ:UNFI) reported adjusted earnings of 40 cents per share in the first quarter fiscal 2012, which were in line with the Zacks Consensus Estimate. However, it inched up by a penny on year-over-year basis. Diluted earnings per share (EPS) came in at 31 cents, down 20.5% year on year.
Diluted EPS in first quarter 2012 compared with the prior-year comparable quarter was affected by the dilutive impact from the Company’s equity offering that was completed late in the first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Guess? Falls Shy, Revs Modestly Up

Posted: 01 Dec 2011 06:05 AM PST

Guess? Inc.'s (NYSE:GES) third quarter 2012 adjusted earnings per share (EPS) lagged behind the Zacks Consensus Estimate by 2 cents and stood at 71 cents. It also missed the year-ago earnings of 75 cents a share by 5.3%.
Management held the current global economic headwinds and the dilapidating disposable income of the consumers responsible for the not-so-good results of the company in the third quarter.
The Way Forward
The company's continuing strong business momentum, even in face of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Holds Gains After U.S. Jobless Data

Posted: 01 Dec 2011 06:05 AM PST

Forexpros – The euro held gains against the yen on Thursday, despite unexpectedly weak U.S. jobless claims data after successful French and Spanish bond auctions lent support to the single currency.

EUR/JPY hit 105.07 during European afternoon trade, the pair's highest since November 11; the pair subsequently consolidated at 104.86, rising 0.48%.

The pair was likely to find support at 103.32, Wednesday's low and resistance at 105.55, the high of November 15.

The U.S. Department of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed Vs. Rivals Amid E.Z. Debt Worries

Posted: 01 Dec 2011 05:54 AM PST

Forexpros – The U.S. dollar was mixed against its major counterparts on Thursday, amid ongoing concerns over the euro zone's debt crisis after well-received French and Spanish government bond auctions.

During European afternoon trade, the dollar was down against the euro, with EUR/USD rising 0.35% to hit 1.3494.

Spain's Treasury auctioned the full targeted amount of EUR3.75 billion of government bonds, with yields staying below the critical 7% threshold. The average yield on Spain's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Arris Leads DOCSIS 3.0 CPE Race

Posted: 01 Dec 2011 05:51 AM PST

According to a recent report of Dell'Oro Group, Arris Group Inc. (NASDAQ:ARRS) shipped majority of customer premises equipments (CPE) for cable TV industry, which are DOCSIS 3.0 (Wideband) enabled. The DOCSIS 3.0 CPE market is intensely competitive as large broadband gear makers, such as Cisco Systems Inc. (NASDAQ:CSCO) and Motorola Mobility Holdings Inc. (MMI) are major players. Besides, small sized gear makers such as Technicolor S.A. and Ubee Interactive also competes in this market.
Dell'Oro’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cotton Futures Jump On Speculation Of Strong Chinese Demand

Posted: 01 Dec 2011 05:40 AM PST

Forexpros – Cotton futures moved higher on Thursday, trading close to the previous session's two-week high amid indications fiber demand from top consumer China will remain strong in the near-term.

On the ICE Futures U.S. Exchange, cotton futures for March delivery traded at USD0.9233 a pound during European afternoon trade, jumping 1.56%.

It earlier rose by as much as 1.85% to trade at a daily high of USD0.9277 a pound. Prices climbed to USD0.9365 a pound on Wednesday, the highest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Initial Jobless Claims Rise Unexpectedly

Posted: 01 Dec 2011 05:39 AM PST

Forexpros – The number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly, climbing above 400,000 for the first time in three weeks, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 25 rose by 6,000 to a seasonally adjusted 402,000, confounding expectations for a decline of 6,000 to 390,000.

The previous week's figure was revised up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

How Terrible: Walmart Plans To “Dump” Six Stores, 1,600 Jobs And $21 Million In Charity On Wash. D.C.

Posted: 01 Dec 2011 05:36 AM PST

Washington, D.C.’s unemployment rate has been rising over the last year, and at 11.1% in September was more than two percent above the 9% jobless rate for the country (which has been falling, see chart above).  Further, more people in the District are now unemployed – 37,034 – than at any other time in the city’s history.  So you would think that if an employer promised to bring 1,600 permanent jobs and 600 construction jobs to the city, and also pledged $21 million in charitable … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chinese Policy Shift

Posted: 01 Dec 2011 05:30 AM PST

Economic Slowdown and Monetary Policy Shift in China

The world's second-largest economy is now showing clear signs of slowdown as the authorities there reverse their two-year efforts to control inflation and cool the economy. The Purchasing Managers' Index data released today by China showed that the manufacturing sector shrank in November for the first time since early 2009. PMI fell to 49.0 in November from 50.4 in October against the median estimate 49.8, pointing to a sharp … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Eagle EPS Lags, Revs Up

Posted: 01 Dec 2011 05:30 AM PST

American Eagle Outfitters Inc.'s (NYSE:AEO) recently reported third-quarter 2011 earnings of 27 cents per share that came in line with the Zacks Consensus Estimate. However, it was lower than the previous-period earnings of 29 cents per share primarily due to higher cotton costs and markdowns, partially offset by higher revenue growth resulting from holiday season.
Quarterly Review
During the quarter, American Eagle's net sales went up 10.7% year over year to $831.8 million, beating the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

HON Propels Propylene Tech In China

Posted: 01 Dec 2011 05:16 AM PST

Honeywell International Inc.'s (NYSE:HON) group company, UOP LLC, has been chosen by Zhejiang Shaoxing Sanjin Petrochemical Co. Ltd to offer its key technology for producing propylene to the Chinese company. The deal provides a good opportunity for Honeywell's UOP Oleflex™ technology in China, as the country's propylene producer increases production to meet the demands.
This is the sixth contract bagged by Honeywell for its UOP technology from petrochemicals producers to produce propylene … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Macau Nov Gaming Revenue Slows

Posted: 01 Dec 2011 05:09 AM PST

From Reuters
Macau, the world's largest gambling destination, posted a 32.9 percent rise in November gaming revenue to 23 billion patacas ($2.9 billion), government figures figures showed on Thursday, buoyed by a rising tide of Chinese gamblers to the glitzy enclave, despite deep-set global economic uncertainties.
November revenue, which rose at the slowest pace this year, was expected to fall from October's record $3.4 billion because of the previous month's week-long national holiday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Will PNC Raise Equity Capital?

Posted: 01 Dec 2011 05:05 AM PST

On Tuesday,PNC Financial Services Group Inc. (NYSE:PNC) announced that it will not issue any common stock related to the acquisition of RBC Bank (USA), the U.S. retail banking subsidiary of Royal Bank of Canada (NYSE:RY).
PNC Financial was uncertain of whether to issue common stock to assure U.S. regulators about the funding aspect of the deal. But, fortunately the Federal Reserve approved the bank's plan and intimated that common stock offering is not required. The deal, which is expected to close … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil, Gold Looking For Direction Amid Indecisive Risk Trends

Posted: 01 Dec 2011 04:30 AM PST

Talking Points

Crude Oil Adrift Along with S&P500 Futures Ahead of Wall Street Open
Gold Needs US Dollar to Pick Direction to Establish a Directional Bias

WTI Crude Oil (NY Close): $100.36 // +0.57 // +0.57%
Risk sentiment trends are adrift after yesterday's sharp recovery, with traders apparently rethinking the implications of a 50bps swap rate cut from the world's top central banks, clouding the outlook for crude oil prices. The US ISM manufacturing gauge headings the economic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Higher After Successful Spanish Debt Auction

Posted: 01 Dec 2011 04:30 AM PST

Forexpros – The pound erased losses against the U.S. dollar on Thursday, tracking the euro higher after an auction of Spanish government debt encountered better-than-expected investor demand, supporting risk appetite.

GBP/USD pulled back from 1.5638, the daily low, to hit 1.5725 during European early afternoon trade, rising 0.15%.

Cable was likely to find support at 1.5525, Wednesday's low and short-term resistance at 1.5779, Wednesday's high and a seven-day high.

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

Forex – EUR/USD Up As French/Spanish Debt Sales Reassure

Posted: 01 Dec 2011 03:53 AM PST

Forexpros – The euro was higher against the U.S. dollar on Thursday, as solid investor demand at auctions of Spanish and French government debt reassured markets, but ongoing concerns over the region's debt crisis meant gains were limited.

EUR/USD hit 1.3504 during European early afternoon trade, the daily high; the pair subsequently consolidated at 1.3478, gaining 0.23%.

The pair was likely to find support at 1.3319, the low of November 23 and short-term resistance at 1.3532, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Mixed To Lower As E.Z. Concerns Weigh; Dow Jones Down 0.19%

Posted: 01 Dec 2011 03:40 AM PST

Forexpros – U.S. stock futures pointed to a weaker open on Thursday, reversing the previous day's strong rally as concerns over the debt crisis in the euro zone continued to dominate market sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a decline of 0.19%, S&P 500 futures signaled a 0.31% drop, while the Nasdaq 100 futures indicated a 0.05% loss.

Market sentiment found support earlier, after well received French and Spanish bond auctions. Spain's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wheat Futures Add To Gains As Risk Sentiment Improves

Posted: 01 Dec 2011 03:20 AM PST

Forexpros – Wheat futures extended gains on Thursday, trading close to the previous session's two-week high as market sentiment strengthened after well received Spanish and French government bond auctions earlier in the day.

On the Chicago Mercantile Exchange, wheat futures for March delivery traded at USD6.1888 a bushel during European morning trade, gaining 0.78%.

It earlier rose by as much as 0.92% to trade at a daily high of USD6.2488 a bushel. Prices climbed to USD6.2900 a bushel on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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