Thursday, December 1, 2011

DailyMarkets.com - RTN Gets Nod For Missile Upgrade

DailyMarkets.com - RTN Gets Nod For Missile Upgrade


RTN Gets Nod For Missile Upgrade

Posted: 01 Dec 2011 12:20 PM PST

Raytheon Company (NYSE:RTN) has received consent from the U.S. Congressional and State Department for upgrading the Patriot Air and Missile Defense System for the Kingdom of Saudi Arabia to the latest Configuration-3.
In June this year, the company had received a Direct Commercial Sales contract worth $1.7 billion that included ground-system hardware, a full training package, support equipment upgrades and an interoperability capability to support potential coalition operations.
Patriot is the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


AstraZeneca Drug Cleared In EU

Posted: 01 Dec 2011 12:05 PM PST

AstraZeneca (NYSE:AZN) and its partner Bristol-Myers Squibb (NYSE:BMY) announced recently that Komboglyze has been approved by the European Commission (EC) in European Union (EU). Komboglyze is a combination of Onglyza (saxagliptin), a DPP-4 inhibitor and metformin, a generic drug for type II diabetes. AstraZeneca has co-developed Onglyza with Bristol-Myers.
The EC cleared Komboglyze as an adjunct to diet and exercise to improve glycemic control in adults suffering from type II diabetes. Komboglyze … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Caterpillar Grows Indian Connection

Posted: 01 Dec 2011 11:50 AM PST

Caterpillar Inc. (NYSE:CAT) is planning to invest $212 million in India to meet the increasing demand for its products due to road construction and overall infrastructure boom in the country.
The plan includes building a new $150 million engine manufacturing facility in India that will produce Perkins branded 4000 Series engines. The site selection for the facility is currently under progress. In addition, Caterpillar has slated $62 million for expansion of its existing off-highway truck … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Hot Option Plays: Market Backs Off Resistance

Posted: 01 Dec 2011 11:38 AM PST

Cusick’s Corner
This is a big move, really exciting but the stage we are at is a critical one. With the S&Ps (the index that I follow the most) backing off a critical resistance level, 1150, there needs to be conviction of price and volume if there are going to be more non-institutional participants. So with this pullback into the Midday, the dip bid appears to continue to support, but not with conviction. It is healthy to have a chop right here but the market is chewing on the latest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


BSX Grows US CRM Portfolio

Posted: 01 Dec 2011 11:35 AM PST

Boston Scientific Corporation's (NYSE:BSX) Cardiac Rhythm Management (CRM) should record higher sales with the US Food and Drug Administration (FDA) approving Incepta, Energen and Punctua cardiac resynchronization therapy defibrillators (CRT-Ds) and implantable cardioverter defibrillators (ICDs). These devices are meant to treat heart failure and sudden cardiac death.
Though expected, the US approval comes even earlier than the company's original guidance of late 2011 or early 2012. CE Mark … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Petrobras Strikes In Santos Basin

Posted: 01 Dec 2011 11:20 AM PST

Brazilian state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., announced the discovery of oil in the pre-salt reservoirs of the country's Santos Basin. The new well reinforces the region's potential of 5-8 billion barrels of recoverable reserves.
Drilled to a total depth of 2,180 meters, the 4-BRSA-946C-SPS well, informally known as Biguá, is located in the 1-BRSA-532A-SPS (Bem-te-vi)'s Discovery Appraisal Plan area about 270 kilometers off the state of São Paulo. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Analyst Interviews: Auto Industry Stock Outlook And Review

Posted: 01 Dec 2011 11:10 AM PST

The auto industry is highly concentrated. About 10 global automakers account for over 77% of the production worldwide and 13 automakers account for more than 90% of total vehicles sold in the U.S.

In the first 10 months of 2011, General Motors Company (NYSE:GM) led with a 19.8% market share in the U.S., followed by Ford Motor Co. (NYSE:F) with a 16.8% market share, Toyota Motors Corp. (NYSE:TM) with a 12.6% market share, Chrysler-Fiat with a 10.7% market share, replacing Honda Motor Co. (NYSE:HMC) and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Perry Ellis Pumps Up Share Buyback

Posted: 01 Dec 2011 11:10 AM PST

Perry Ellis International Inc. (NASDAQ:PERY) recently approved a $20 million extension of its stock repurchase program, thereby maintaining the trend of returning wealth to its shareholders from time to time, depending on market conditions. This program now authorizes the company to repurchase up to $40 million of its common stock over a twelve-month period.
Perry Ellis will fund this repurchase program through the cash balances and its available credit facility. At the end of third-quarter 2011, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


FAA Certifies United Continental

Posted: 01 Dec 2011 10:50 AM PST

The largest U.S. airline United Continental Holdings Inc. (UAL), created by the merger of United Airlines and Continental Airlines last year, received a single operating certificate from Federal Aviation Administration (FAA).
So far, United and Continental were operating as separate entities and their integration is progressing well. As of September, United and Continental's check-in and ticket counter facilities have been relocated at 53 airports and more than half the fleet, including the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Keating: “Buyers Taking Break…light Volume”

Posted: 01 Dec 2011 10:45 AM PST

12/01/11 James E. Coffey Securities’ Gregory Keating weighs in on today’s moderate decline in US stocks. Key technical levels and expectations ahead of the release of US employment report are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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

Posted: 01 Dec 2011 10:45 AM PST

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Thursday after the release of U.S. data on ISM Manufacturing Index.

NZD/USD was trading at 0.7788, down 0.21% at time of writing.

The pair was likely to find support at 0.7480, Monday's low, and resistance at 0.7822, Wednesday's high.

Earlier in the day, industry data showed that The U.S. ISM manufacturing PMI rose more-than-expected to 52.7 last month from 50.8 in the preceding month.

Analysts had expected the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


FMC Gets Wheatstone Deal

Posted: 01 Dec 2011 10:35 AM PST

FMC Technologies Inc (NYSE:FTI) has entered into a design, manufacture and supply agreement with the Australian unit of Chevron Corporation (NYSE:CVX). The deal will fetch FMC approximately $325 million in revenue.
Per the deal, the Australian subsidiary of FMC will deliver 11 subsea production trees, 11 wellheads, 3 manifolds, subsea and topside controls and well access systems. These equipments will be utilized in Chevron's ambitious multibillion dollar Wheatstone liquefied natural gas (LNG) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


The Jenga Metaphor

Posted: 01 Dec 2011 10:20 AM PST

The single most important thing for stocks are profits. The second most important thing is interest rates. That is because the "true value" of any stock is the value of all the cash flow it will generate from now until the Pacific Ocean boils dry, discounted back to the present.

While from quarter to quarter reported earnings can be gamed — and thus it is important to look at the quality of earnings — that is more of an issue at the individual-company level than for the market or the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Defense On Low Fat Diet?

Posted: 01 Dec 2011 10:20 AM PST

A nation burdened by $15 trillion of national debt and an unemployment rate of 9% has resorted to bariatric surgery of its budget. The administration is catching up to reduce flab in the budget, and the defense budget seems to stand out. In what is one of the final steps, the Pentagon has submitted to President Barack Obama a draft of its strategic budget review before its release.
In the review, the Pentagon is seeking to trim about $450 billion in defense spending over 10 years to meet … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Crude, Fuel Supplies Rise

Posted: 01 Dec 2011 10:20 AM PST

The U.S. Energy Department’s weekly inventory release showed that crude stockpiles increased more than expected on higher imports, while gasoline supplies rose for the third straight week. The agency's report further revealed that distillate stocks posted a surprise build, as production hit a record high. Meanwhile, refiners reduced processing rates by 0.9%.   
The Energy Information Administration (“EIA”) Petroleum Status Report – which contains data for the previous week ending … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Krispy Kreme Beats; Ups Outlook

Posted: 01 Dec 2011 10:05 AM PST

Krispy Kreme Doughnuts Inc. (NYSE:KKD) posted third quarter 2012 earnings of 7 cents per share, beating the Zacks Consensus Estimate by a penny. Quarterly earnings more than doubled from the year-ago level of 3 cents a share.
Total revenue climbed 9.4% year over year to $98.7 million in the quarter. Within segments, company store revenues jumped 9.8% year over year to $61.6 million, Domestic franchise revenue grew 14.1% to $2.3 million, International franchise revenue escalated 22.4% to $5.4 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Markets Close Lower; Dax Down 0.87%

Posted: 01 Dec 2011 10:05 AM PST

Forexpros – European stocks were down after the closing bell on Thursday.

At the close of European trade, Germany's DAX fell 0.87%, London's FTSE 100 shed 0.29%, France's CAC 40 declined 0.78% and the EURO STOXX 50 was down 0.71%.

Meanwhile, on Wall Street, equity markets were mixed after the open. The Dow Jones Industrial Average was down 0.50%; the S&P 500 index shed 0.48%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Updating The TICK Levels For Intraday Trading Reference

Posted: 01 Dec 2011 10:04 AM PST

For those of you who use the NYSE TICK in your intraday trading, it's very important to understand that the reference  TICK extremes – highs and lows – changes as a factor of market volatility.
What that means is that you can't just call a +1,000 or -1,000 TICK reading "extreme" – the value of "extreme" cycles up and down over time.
Let's look at the current reference levels along with the levels that have changed in 2011 so you can get a more accurate reference of what … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro Extends Gains, But Limited

Posted: 01 Dec 2011 10:00 AM PST

12/01/11 The euro remains in the green this afternoon but gains are limited following mixed global data and tight equity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Xmas Gift For The Ailing Heart

Posted: 01 Dec 2011 09:59 AM PST

Wilson Greatbatch, the self-professed “humble tinkerer” and a trailblazer in medical technology, invented the first implantable cardiac pacemaker in 1958 which kept the rhythm of millions of heartbeats and preserved countless lives across the planet.
A couple of decades later, the first patient received an implantable defibrillator, the brainchild of Dr. Michel Mirowski, in 1980. But that took place decades ago and we have come a long way since then. Medical technology has advanced by leaps and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


China Life Remains ‘Underperformer’

Posted: 01 Dec 2011 09:50 AM PST

We have reiterated our Underperform recommendation on China Life Insurance Company Ltd. (NYSE:LFC) based on its poor operating results in the third quarter.
China Life reported operating earnings of RMB0.13 per share (US$0.31 per ADR) during the third quarter of 2011, witnessing a 45.7% decline from RMB0.24 per share (US$0.54 per ADR) in the third quarter of 2010.
The profitability of China Life is significantly affected by changes in interest rates. Although total investment income increased … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


New Contracts Elongate JEC List

Posted: 01 Dec 2011 09:40 AM PST

As the global economy dwindles over fears of European crisis harming industrial growth, Jacobs Engineering Group Inc. (NYSE:JEC) takes a bold step forward in the besieged continent; receiving a framework contract from Electricite de France (EDF). The contract will offer owner engineering services in support of gas infrastructure projects across Europe, within a duration of four years.
Jacobs will be providing a wide range of management, consultancy and design services. These include – project … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Court Piles Taxes On Vale

Posted: 01 Dec 2011 09:25 AM PST

A week ago, Australian lower house has announced the approval of tax on profit for coal and iron ore mining. The news came as a blow to BHP Billiton Ltd. (NYSE:BHP), Rio Tinto plc (NYSE:RIO), Xstrata and other iron-ore and coal miners operating in Australia. These companies have to bear an estimated burden of about A$11 billion ($10.8 billion) as extra charges in the first three years. 
When the worldwide arguments and disputes on the issue of Australian tax imposition was just taking shape, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Assets Sale Continues At BofA

Posted: 01 Dec 2011 09:05 AM PST

Bank of America Corporation (NYSE:BAC) has agreed to sell its Designated Market Maker (DMM) business on New York Stock Exchange (NYSE) to global market maker, Getco LCC. BofA's decision to move away from its market making operations is a part of its strategy to concentrate on its core banking business.
The financial terms of the transactions were, however, not disclosed. Following the closure of the deal, Getco will become the second largest NYSE-designated market-maker and would be responsible … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Principal Guides, Approves Buyback

Posted: 01 Dec 2011 08:50 AM PST

Principal Financial Group Inc. (NYSE:PFG) guides its 2012 operating earnings in a band of $3.05–$3.25 per share. The Zacks Consensus Estimate for 2012 is $3.17, toward the high end of the company’s guidance.
The company also expects an average S&P 500 Index of 1,275 in 2012, driving an 8%–10% year-over-year increase in average assets under management in 2012. It still expects operating losses of $120 to $130 million at the Corporate segment in 2012. Also, the company estimates operating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


IsoRay Begins GliaSite Shipment

Posted: 01 Dec 2011 08:35 AM PST

Medical isotope maker IsoRay Inc (ISR) said that it has commenced the shipment for its GliaSite radiation therapy system, a balloon catheter used in treating brain cancer.
This follows the recent approval of the device by the Washington State Department of Health, which paved the way for its launch in the U.S. GliaSite was approved by the U.S. Food and Drug Administration ("FDA") in September 2011. The Washington-based company noted that GliaSite has already started attracting the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Invest In The “Starbucks Of China”

Posted: 01 Dec 2011 08:34 AM PST

Invest in the "Starbucks of China"
by Carl Delfeld, Investment U Senior Analyst
Thursday, December 01, 2011: Issue #1655
Imagine my surprise when I arrived in Tokyo decades ago as an eager student and found more coffee shops per block than bars in Milwaukee.
I had thought that Japan, like most of Asia, was a land of tea drinkers. It turns out that with rising incomes and western influence, Japanese people love coffee (with lots of sugar and milk) alongside their green tea.
Right now, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Mixed To Lower As Risk Appetite Wanes

Posted: 01 Dec 2011 08:29 AM PST

Forexpros – The U.S. dollar was mixed to lower against its major counterparts on Thursday, as investors remained jittery following better-than-expected euro zone bond auctions as U.S. data painted an uneven picture of the economic recovery.

During U.S morning trade, the dollar was lower against the euro, with EUR/USD easing up 0.12% to hit 1.3462.

Earlier Thursday, auctions of French and Spanish government debt met with solid investor demand, supporting the euro.

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


Optimer Moved Down To Neutral

Posted: 01 Dec 2011 08:20 AM PST

We recently downgraded our rating on Optimer Pharmaceuticals Inc. (NASDAQ:OPTR) to Neutral from Outperform as we await more visibility on how the commercial launch of its sole marketed antibiotic Dificid (fidaxomicin) takes shape.
Optimer launched Dificid in July 2011 in the US for the treatment of clostridium difficile-associated diarrhea (CDAD). CDAD is the most common nosocomial or hospital-acquired diarrhea and is a significant malaise in hospitals and nursing home facilities.  Dificid … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Alnylam Completes Trial Enrollment

Posted: 01 Dec 2011 08:05 AM PST

Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) recently announced it has completed enrollment in a mid-stage study of its pipeline candidate ALN-RSV01, an RNA interference technology (RNAi) therapeutic being studied for the treatment of respiratory syncytial virus (RSV) infection. The study is being conducted in RSV-infected lung transplant patients at 33 lung transplant centers in six countries. Data from the study is expected in mid-2012.
Alnylam is developing ALN-RSV01 on its own while Cubist … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Natural Gas Futures Rally 3% After U.S. Supply Data

Posted: 01 Dec 2011 08:03 AM PST

Forexpros – Natural gas futures rallied sharply on Thursday, after the U.S. Energy Information Administration said that natural gas inventories declined unexpectedly last week, signaling the start of the peak heating demand season in the U.S.

On the New York Mercantile Exchange, natural gas futures for delivery in January traded at USD3.683 per million British thermal units during U.S. morning trade, soaring 3.73%.

It earlier rose by as much as 3.9% to trade at USD3.688 per million British … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Stocks Catch Breath After Rally

Posted: 01 Dec 2011 03:00 AM PST

12/01/11 Wall Street struggled for direction a day after equities soared across the board. US jobless claims ticked back above 400K, while ISM manufacturing came in above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Oil Steady Around $100

Posted: 01 Dec 2011 08:00 AM PST

12/01/11 Mixed global equity trade and mixed messages out of the eurozone has kept crude prices trading in a tight range this morning around $100 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Higher After U.S. Manufacturing Data

Posted: 01 Dec 2011 07:35 AM PST

Forexpros – The pound was higher against the U.S. dollar on Thursday, after better-than-expected U.S. manufacturing data but sterling's gains were limited as the Bank of England underlined its concerns over the euro zone's debt crisis.

GBP/USD hit 1.5756 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.5728, gaining 0.16%.

Cable was likely to find support at 1.5581, the low of November 22 and resistance at 1.5887, the high of November 18.

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


Forex – EUR/USD Hits Intra-day High After Upbeat ISM Data

Posted: 01 Dec 2011 07:29 AM PST

Forexpros – The euro rose to an intra-day high against the U.S. dollar on Thursday, after a report showing that manufacturing activity in the U.S. rose at the fastest pace in five months in November supported risk appetite.

EUR/USD hit 1.3512 during U.S. morning trade, the intra-day high; the pair subsequently consolidated at 1.3503, gaining 0.43%.

The pair was likely to find support at 1.3416, the days low and resistance at 1.3568, the high of November 22.

In a report, the Institute of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Rise To 2-week High After Upbeat U.S. ISM Data

Posted: 01 Dec 2011 07:23 AM PST

Forexpros – Gold futures moved higher on Thursday, climbing to a two-week high as risk sentiment improved following the release of better-than-expected U.S. manufacturing data.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,755.15 a troy ounce during U.S. morning trade, gaining 0.29%.

It earlier rose by as much as 0.4% to trade at USD1,757.95 a troy ounce, the highest price since November 17.

Gold futures were likely to find … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. ISM Manufacturing PMI Rises More-than-expected

Posted: 01 Dec 2011 07:06 AM PST

Forexpros – Manufacturing activity in the U.S. rose more-than-expected in November, climbing at the fastest pace in five months, industry data showed on Thursday.

In a report, the Institute for Supply Management said its index of purchasing managers rose by 1.9 points to 52.7 in November, up from 50.8 in October.

Analysts had expected the ISM index of purchasing managers to ease up by 0.7 points to 51.5 in November.

On the index, a reading above 50.0 indicates industry expansion, below … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Euro And Swissie Lead Rally, But U.S. Dollar Firmer Overall

Posted: 01 Dec 2011 06:40 AM PST

Fundamental Headlines
• Fed Dollar-Funding Cut Shows Limits of Action – Bloomberg
• France-Spain Bond Sales Win Investor Backing After Bank Palliative – Bloomberg
• German "No" to Euro Bonds Non-negotiable: Economy Minister – Reuters
• Draghi Opens Door to Bigger ECB Crisis Role – WSJ
• Euro-zone Debt is 'Systemic Crisis' – WSJ
European Session Summary
After weeks of U.S. Dollar dominance – essentially since the Japanese Ministry of Finance intervened on October 31 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


After Big Run, Wall Street Exhales To Open Flat

Posted: 01 Dec 2011 01:15 AM PST

12/01/11 NYFP’s Morning Market Report: After yesterdays 4.2% Dow jump, the Big Board started the new session trading mostly flat and clinging to slight … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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