Wednesday, January 4, 2012

DailyMarkets.com - American Tower Begins REIT Operation

DailyMarkets.com - American Tower Begins REIT Operation

American Tower Begins REIT Operation

Posted: 04 Jan 2012 07:50 AM PST

American Tower Corporation.(NYSE:AMT) started functioning as a Real Estate Investment trust (REIT) from January 1, 2012, after completing the merger with its wholly owned subsidiary American Tower REIT, Inc., on December 31, 2011.
The share holders of the parent company will automatically gain control over American Tower REIT, Inc.'s stock. The stock of the newly merged company will continue to trade on the New York Stock Exchange under the same ticker symbol.
The main purpose of the company to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

P&G Stays Philanthropic, Sheds PUR

Posted: 04 Jan 2012 07:35 AM PST

The world's leading consumer goods and household product manufacturer Procter & Gamble Co. (NYSE:PG) recently completed the divestiture of its PUR water purification products business to Helen of Troy Limited (NASDAQ:HELE). However, the terms of the transaction were not disclosed. Despite disposing the PUR business P&G retained the corporate philanthropic program associated with the business and rebranded it with the corporate logo, "P&G Purifier of Water".
In the growing water … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TiVo Benefits From AT&T Settlement

Posted: 04 Jan 2012 07:20 AM PST

TiVo Inc. (NASDAQ:TIVO) is scheduled to receive $215 million from AT&T Inc. (NYSE:T) as settlement for infringement of a DVR technology patent. As per the terms of the settlement, AT&T is set to make an upfront payment of $51 million and the remaining $164 million on a quarterly basis through 2018. Concurrent with the recent settlement, both the companies have dropped all pending litigation charges against each other.
In addition to this settlement, a mutual patent licensing agreement was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: NZDUSD Bangs Against 100 Day MA.

Posted: 04 Jan 2012 07:18 AM PST

The NZDUSD has tested the 100 day MA over the last few days of trading. The level comes in at the 0.7902 level.  The high today came in at the 0.7903.   Staying below the level, should keep the possibility of further corrective pressure on the pair. The price has moved from a low of 0.7651 to the high yesterday of 0.7906 over the last week of trading. Running into the 100 day MA is an obvious level to take some profit by the longs (and for bears to enter).
However, the decline … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Terreno Realty In Expansion Mode

Posted: 04 Jan 2012 07:10 AM PST

Terreno Realty Corporation (TRNO), a real estate investment trust, has recently announced the acquisition of an industrial property in Kent, Washington, for approximately $15.0 million.
The property consists of two multi-tenant industrial buildings spanning approximately 169,000 square feet. The property is currently 85% leased to six tenants and is located in the heart of the Kent Valley with close access to the Seattle-Tacoma International Airport. The strategic move on the company's part … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Panel To Review CTIC’s Pixantrone

Posted: 04 Jan 2012 06:55 AM PST

Cell TherapeuticsInc. (CTIC) recently announced that the resubmitted new drug application ("NDA") for its lead pipeline candidate pixantrone will be reviewed by a panel of the US Food & Drug Administration ("FDA") on February, 9, 2012.
Pixantrone has been developed for the treatment of relapsed or refractory aggressive non-Hodgkin's lymphoma ("NHL") in patients who have not responded to other treatment options. The Oncologic Drugs Advisory Committee ("ODAC") will review … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Benihana Initiates Dividend

Posted: 04 Jan 2012 06:35 AM PST

Benihana Inc.(NASDAQ:BNHN) has commenced the New Year by boosting investors' wealth as it announced the first dividend payment in the company's history. The decision was based on the company's growth prospects, solid balance sheet, healthy free cash flows and earnings power.
The leading operator of Japanese restaurants in the U.S will pay an initial quarterly dividend of 8 cents a share on January 30, 2012, to shareholders of record as of January 13, 2012. This equates to an annual payout of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Dollar Leads, Franc Lags As Liquidity Begins To Return

Posted: 04 Jan 2012 06:35 AM PST

Fundamental Headlines
• Bank Earnings Jump 57% in Analyst Forecasts – Bloomberg
• Slowing Inflation May Give ECB Room to Maneuver on Interest Rates – Bloomberg
• Mortgage Demand Fell at Year-End, Purchases Sag – Reuters
• Banks Park Record Funds with ECB – WSJ
• Fed Will Detail Rate Plans, Easing Market Guesswork – WSJ
European Session Summary
Yesterday's appreciation by higher yielding currencies against the U.S. Dollar and the modest uptick in equity markets has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Advances As Market Sentiment Sours

Posted: 04 Jan 2012 06:32 AM PST

Forexpros – The U.S. dollar advanced to a session high against its Canadian counterpart on Wednesday, as renewed concerns over the ongoing financial crisis in the euro zone curtailed demand for riskier assets.

USD/CAD hit 1.0162 during early U.S. trade, the session high; the pair subsequently consolidated at 1.0135, gaining 0.28%.

The pair was likely to find support at 1.0075, Tuesday's low and resistance at 1.0196, Tuesday's high.

Market sentiment softened after a closely watched … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tellabs To Underperform

Posted: 04 Jan 2012 06:25 AM PST

Tellabs Inc.'s (NASDAQ:TLAB) woes continue as the company reported weak financial result for the third quarter of 2011 and provided a tepid outlook for the fourth quarter of 2011. Although international revenue increased, lower revenue from North America led to this poor performance. The company's three reporting segments witnessed reduction in sales. Tellabs' globally reputed high-margin digital cross-connect products continued to show a downtrend, while significantly affecting its bottom … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Eurozone Concerns Re-Emerge

Posted: 04 Jan 2012 06:25 AM PST

Stock market action will likely be mixed today following the enthusiastic start to the New Year on Tuesday when a slew of domestic and international reports pushed the market higher.
Not only is the domestic economic calendar on the quieter side today, with November Factory Orders and December Auto Sales as the only releases on tap, but Europe-related headlines are also making a comeback this morning. Rising bond yields in Spain and new questions about Hungary (not a Euro-zone member) are a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Bristol-Myers Squibb Company, Devon Energy, MGIC Investment, Rambus, China Petroleum & Chemical, Teva Pharmaceutical Industries Limited, USX Corporation

Posted: 04 Jan 2012 06:25 AM PST

    Share prices of natural gas producer Devon Energy Corp (NYSE:DVN) gained 6.63% after the company announced it would sell a stake in five of its exploratory projects across the U.S., to Sinopec International Petroleum Exploration & Production, a unit of China Petroleum & Chemical (NYSE:SNP) for $2.2 billion

    Pediatric nutrition company Mead Johnson Nutrition Co.'s (MJN) shares advanced 3.81% to close at $71.35 after U.S. health officials confirmed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Will Sugar Futures Sweet Note To Start The Year Turn Sour?

Posted: 04 Jan 2012 06:22 AM PST

Wednesday, January 4, 2012
Given the bearish fundamentals facing the Sugar market in 2012, some traders may perhaps wish to take advantage of the recent rally to explore bearish trading strategies using Sugar futures options, such as a bear put debit spread. For example, with March Sugar trading at 24.34 as of this writing, the March 24.00 puts could be bought and the March 23 puts sold for a net debit of 0.38, or $425.60 per spread, not including commissions. The total investment in the spread … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Falls Below 100 Hour MA And 50% Retracement

Posted: 04 Jan 2012 06:21 AM PST

The EURUSD is continuing the trend to the downside, falling below the 100 hour MA and the 50% retracement of the move up from the December 29th low to the high reached on January 3rd. That level came in at 1.2966.  THis will now be used as topside resistance by intraday traders.

On the daily chart, the price tried move above the top trendline in the early London session, but fell quickly from the level.  The subsequent selloff has pushed the price back comfortably in the channel. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Finds Buyers Against The 200 Hour MA

Posted: 04 Jan 2012 06:21 AM PST

The GBPUSD sold off in sympathy with the EURUSD today. The economic news out of the UK today was quite bullish as the UK PMI Construction came out much better at 53.2 vs 51.5 last, Mortgage Approvals rose to 52.9K vs expectations of 52.5K and Consumer Credit was higher than expectations.  Despite the data, the price of the GBPUSD fell.

The fall did find support, however, against the 200 hour MA which comes in currently at the 1.5571 level (low reached 1.55778). The price is now back above … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Tumbles To Decade Low As Debt Woes Punish

Posted: 04 Jan 2012 06:13 AM PST

Forexpros – The euro tumbled to a 10-year low against the traditional safe haven yen on Wednesday, as concerns over the unresolved sovereign debt crisis in the single currency bloc weighed.

EUR/JPY hit 99.29 during European afternoon trade, the pair's lowest since December 2000; the pair subsequently consolidated at 99.31, tumbling 0.81%.

The pair was likely to find support at 97.90 and resistance at 100.24, the session high.

The euro weakened broadly after a closely watched auction of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CE Closes Ashland Asset Acquisition

Posted: 04 Jan 2012 06:06 AM PST

Celanese Corporation (NYSE:CE), a specialty materials company, completed the acquisition of certain assets from Ashland Inc., including two product lines, Vinac and Flexbond, which will support the strategic growth of the Celanese Emulsion Polymers business. The terms of the deal were not yet disclosed.
In November 2011, Celanese announced that it will acquire the assets of Ashland. This above transaction is consistent with Celanese's strategy to create shareholder value through strategic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Cotton Gets EU Approval

Posted: 04 Jan 2012 05:50 AM PST

Recently, the European Union approved Dow Chemical Co.’s (NYSE:DOW) biotech cotton variety and Syngenta AG's three genetically modified corn varieties, for food and feed use, import and processing.
The crops were approved by the European Commission, the EU’s regulatory arm, after member states failed to provide a qualified majority either in favor or against the approvals.

According to the Commission, the authorizations are valid for 10 years and will be subject to the EU’s labelling and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PivotBoss Report For 1/4/12

Posted: 04 Jan 2012 05:40 AM PST

Market Outlook
The NASDAQ Composite Index ($COMPQ) continues to coil beneath a significant area of resistance, which will be the zone to watch for significant directional conviction ahead.
The daily chart of the $COMPQ shows price has been developing within the boundaries of a triangle pattern over the last year of trading, as the market was in a clear "holding pattern" in 2011. However, 2012 could be vastly different, as a breakout from this pattern could spark the next significant trend … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

3M To Purchase Avery’s OCP Biz

Posted: 04 Jan 2012 05:35 AM PST

3M Company (MMM) signed a definitive agreement with Avery Dennison Corp. to acquire its Office and Consumer Products business ("OCP") for $550 million in cash. The closing of the transaction is subject to certain regulations.
Avery Dennison's Office and Consumer Products business leads the worldwide market as a provider of office and education products, including labels, binders, presentation products, filing and indexing products, writing instruments, and other office and home … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Higher Vs. Rivals After German Auction

Posted: 04 Jan 2012 05:32 AM PST

Forexpros – The U.S. dollar was up against all of its major counterparts on Wednesday, after an auction of German government debt met with lackluster investor demand, while concerns over the European banking sector also bolstered safe haven demand.

During European afternoon trade, the dollar was higher against the euro, with EUR/USD falling 0.70% to hit 1.2957.

Germany sold EUR4.06 billion of 10-year bonds at an average yield of 1.93%, compared with 1.98% at November’s launch of the January … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Monsanto Company

Posted: 04 Jan 2012 05:21 AM PST

Monsanto Company (MON) will be reporting its first-quarter 2012 financial result on Thursday, January 5, 2012.
The current Zacks Consensus Estimate for earnings per share (EPS) is 19 cents, representing an annualized growth of 828.57%.  
With respect to earnings surprises over the trailing four quarters, Monsantooutperformedthe Zacks Consensus Estimate in all the four quarters.  Average earnings surprise was 33.42%, implying that the company outperformed the Zacks Consensus Estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Mobile Visa Processing

Posted: 04 Jan 2012 05:19 AM PST

The Lucky Dragon Mobile Visa Consultants provide a mobile solution to some inefficient Chinese bureaucracy.  The rented Penske truck (pictured above with some satisfied customers) is parked in front of the Chinese consulate in New York City every day, with two Mac laptops and a printer to help frustrated visa applicants print out the correct visa forms.  The long, complicated visa forms available online from China’s consulate are usually not the correct visa applications, and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Coffee Futures Edge Higher On India Export Concerns

Posted: 04 Jan 2012 05:06 AM PST

Forexpros – Coffee futures edged higher on Wednesday, re-approaching the previous session's one-week high after India's leading coffee industry group slashed its forecast for coffee exports, adding to fears over global supplies.

On the ICE Futures Exchange, Arabica coffee for March delivery traded at USD2.2590a pound during European afternoon trade, edging 0.2% higher.

It earlier rose by as much as 0.45% to trade at a daily high of USD2.2647 a pound. Prices rose to USD2.2797 a pound on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Lower After German Debt Sale; DAX Down 0.72%

Posted: 04 Jan 2012 04:48 AM PST

Forexpros – European stock markets were lower on Wednesday, weighed by losses in the financial sector as a weak German debt auction failed to ease concerns over the handling of the euro zone's financial crisis.

During European afternoon trade, the EURO STOXX 50 plummeted 1.23%, France's CAC 40 retreated 0.80%, while Germany's DAX 30 dropped 0.72%.

Germany sold EUR4.06 billion of 10-year bonds earlier at an average yield of 1.93%, compared with 1.98% at November’s launch of the January … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lockheed In The Twilight Of 2011-12

Posted: 04 Jan 2012 04:35 AM PST

Lockheed Martin Corporation (NYSE:LMT) had mixed fortunes during the cross over from fiscal 2011 to 2012. The defense behemoth operates in an industry characterized by high level of competition and is subject to fluctuations in defense spending.
At the fag end of 2011, Uncle Sam, in a clever move, has approved the first Foreign Military Sale of the Terminal High Altitude Area Defense ("THAAD") Weapon System to the United Arab Emirates. The sale comes on the heel of U.S. Defense Secretary Leon … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Hits Session Low As Euro Zone Woes Weigh

Posted: 04 Jan 2012 04:32 AM PST

Forexpros – The pound extended losses against the U.S. dollar on Wednesday, amid growing risk aversion after an auction of German government debt failed to ease investor concerns over borrowing conditions in the euro zone.

GBP/USD hit 1.5594 during European early afternoon trade, the session low; the pair subsequently consolidated at 1.5614, shedding 0.21%.

Cable was likely to find support at 1.5500, Tuesday's low and resistance at 1.5668, the session high.

Germany sold EUR4.06 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Extends Losses On E.Z. Debt Worries

Posted: 04 Jan 2012 04:10 AM PST

Forexpros – The euro extended losses against the U.S. dollar on Wednesday, after an auction of German 10-year government bonds met with lower than average investor demand.

EUR/USD hit 1.2976 during European early afternoon trade, the daily low; the pair subsequently consolidated at 1.2984, shedding 0.50%.

The pair was likely to find support at 1.2911, the low of December 28 and resistance at 1.3118, the high of December 22.

Germany sold EUR4.06 billion of 10-year bonds earlier at an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Broadly Lower After German Debt Auction

Posted: 04 Jan 2012 03:45 AM PST

Forexpros – The euro weakened broadly against its major counterparts on Wednesday, nearing a decade low against the yen and a record low against the Australian dollar following lower than average demand at an auction of German 10-year government debt.

During European late morning trade, the euro was down against the U.S. dollar, with EUR/USD shedding 0.52% to hit 1.2980.

Germany sold EUR4.06 billion of 10-year bonds at an average yield of 1.93%, compared with 1.98% at November’s launch of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Lower After German Debt Sale; Dow Jones Down 0.24%

Posted: 04 Jan 2012 03:41 AM PST

Forexpros – U.S. stock futures pointed to a lower open on Wednesday, as market sentiment remained under pressure after a weak German government bond auction.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.24%, S&P 500 futures signaled a 0.26% loss, while the Nasdaq 100 futures indicated a 0.06% decline.

Germany sold EUR4.06 billion of 10-year bonds at an average yield of 1.93%, compared with 1.98% at November’s launch of the January 2022 bond, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybeans Near 10-week High On South America Weather Concerns

Posted: 04 Jan 2012 03:33 AM PST

Forexpros – Soybean futures edged higher on Wednesday, re-approaching the previous session's ten-week high as investors continued to monitor weather conditions in major soybean producing counties in South America.

On the Chicago Mercantile Exchange, soybeans futures for March delivery traded at USD12.2938 a bushel during European morning trade, adding 0.25%.

It earlier rose by as much as 0.58% to trade at a session high of USD12.3462 a bushel. Prices rallied to USD12.4437 on Tuesday, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Extends Gains After German Bond Auction

Posted: 04 Jan 2012 03:20 AM PST

Forexpros – The U.S. dollar extended gains against the Swiss franc on Wednesday, climbing to a session high after a closely watched auction of German government debt met with lackluster investor demand.

USD/CHF hit 0.9376 during European morning trade, the daily high; the pair subsequently consolidated at 0.9371, gaining 0.55%.

The pair was likely to find support at 0.9302, Tuesday's low and resistance at 0.9469, the high of December 29.

Germany sold EUR4.06 billion of 10-year bonds at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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