Monday, January 9, 2012

DailyMarkets.com - Commerce Bancshares Stays Neutral

DailyMarkets.com - Commerce Bancshares Stays Neutral

Commerce Bancshares Stays Neutral

Posted: 09 Jan 2012 10:06 AM PST

We reiterate our long-term "Neutral" recommendation on Commerce Bancshares Inc. (NASDAQ:CBSH) after a thorough review of its third-quarter 2011 earnings results. The recommendation is also based on its stable capital ratios and excellent liquidity position.
Though Commerce Bancshares' third quarter earnings were a penny below the Zacks Consensus Estimate, it was better than the year-ago quarter's earnings. The improvement originated from expense management initiatives and improving credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Brightpoint Upgraded To Outperform

Posted: 09 Jan 2012 09:50 AM PST

We upgrade our recommendation on Brightpoint Inc. (NASDAQ:CELL) to Outperform based on the fact that the galloping demand for high-end smartphones and tablets throughout the world will drive the company's valuation level higher in the near future. We believe the long-term business prospect of Brightpoint remains intriguing buoyed by the growing demand for high-end pocket digital assistances globally. Newly owned distribution contracts coupled with effective cost control strategies are likely to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MoneyGram Slips To Neutral

Posted: 09 Jan 2012 09:40 AM PST

We have downgraded our recommendation on MoneyGram International Inc. (NYSE:MGI) to Neutral based on the current sustainability factor. The company reported third-quarter 2011 earnings of 3 cents per share, in line with the Zacks Consensus Estimate but significantly higher than the loss of 30 cents per share in the year-ago quarter.
Higher money transfer transaction volumes and higher fee and other revenue drove the top line, while absence of preferred dividend payouts, lower tax and interest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cutera Buys IRIDEX’s Aesthetic Biz

Posted: 09 Jan 2012 09:30 AM PST

Medical devices maker Cutera Inc (NASDAQ:CUTR) recently cut an asset purchase deal with California-based laser systems and delivery devices maker IRIDEX Corporation (NASDAQ:IRIX). Under the deal, Cutera has agreed to acquire specific aesthetic laser assets of IRIDEX for roughly $5.1 million.
The transaction, which has been cleared by the Boards of both companies, is expected to complete in early 2012. Cutera expects to finance the deal using its available cash resources.
Both Cutera and IRIDEX currently … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Keeps The Better Tone After Early NY Fall, But Remains Contained

Posted: 09 Jan 2012 09:22 AM PST

The EURUSD fell in early NY trade. Comments from Sarkozy and Merkel reminded the market of the Greek situation but after a fall to the midpoint of the days range (and the close from Friday at 1.2720)  the buyers came back in the market.  The price is above the corrective channel but has been stalling in front of earlier day highs.

On the hourly, the price is still well below the 38.2% of the last week trend move lower at the 1.28221 level.   The high today moved … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Finds Support Off Trendline(s)

Posted: 09 Jan 2012 09:22 AM PST

The GBPUSD has moved up to the resistance area at the 1.5466 level earlier today ( low are from January 2nd and January 5th) and fell. However, the market ran into support from the close from Friday, the upward sloping trendline the underside of the downward sloping trendline on the hourly chart. That support comes in between 1.5422 and 1.5426 . The low did reach 1.5420 but was quickly rejected.
The price is back higher, but activity remains consolidative for the pair.  I would … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Keeps To The Topside Of The Range/above Friday Close

Posted: 09 Jan 2012 09:22 AM PST

The support held. Now the price is moving toward the intraday resistance at 1.2752. The 100 bar MA (flattening) and the trendline come in at the level. Should we see sellers against this level?  Good chance.  Risk can be defined and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Trying, Trying, Trying To Push Higher…

Posted: 09 Jan 2012 09:22 AM PST

..but the 76.88 level needs to be broken and momentum needs to be developed. The 76.88 level is where the 100 hour MA (blue line) comes in and was the 61.8% level broken on the way down from the January 6th high.  Is the USDJPY on sale here and a buy, or is it just breathing before moving back down?  The market will need to decide and this is the level to make the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Netflix Debuts In UK, Ireland

Posted: 09 Jan 2012 09:11 AM PST

Netflix Inc.'s (NASDAQ:NFLX) much awaited international project finally shaped up as it launched its unlimited online streaming services in UK and Ireland on Monday.  Netflix with its monthly subscription rate of 5.99 Pounds Sterling in the UK and euro 6.99 in Ireland will likely give the present video streaming providers in these markets a tough competition. Netflix subscribers in the region can log in to Netflix.com through any internet-connected devices and avail the services.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Alcoa, Best Buy Co., RF Micro Devices, Transocean, ViroPharma Incorporated

Posted: 09 Jan 2012 09:11 AM PST

 

    After RF Micro Devices Inc. (NASDAQ:RFMD) suggested that its fiscal third quarter revenues might fail to meet analyst' estimates, its shares declined 19.5% on Friday

    Following Transocean Ltd.'s (NYSE:RIG) announcement that its chief financial officer Ricardo Rosa will be stepping down, shares of the company slipped 1.1%

    Shares of Alcoa, Inc. (NYSE:AA) dropped 2.1% after the company announced plans to shut down or reduce 12% of its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UCB’s Vimpat Continues To Impress

Posted: 09 Jan 2012 09:11 AM PST

UCB (UCBJF) recently reported positive top-line data from a mid-stage study on its antiepileptic drug Vimpat (lacosamide). The study was conducted to assess the safety of the drug when used as an adjunctive therapy for uncontrolled primary generalized tonic-clonic (PGTC) seizures in patients with idiopathic generalized epilepsy (IGE).
The preliminary data from the study that enrolled 49 patients aged between 16 and 65 years with uncontrolled PGTC seizures and IGE, demonstrated that the drug … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apple Wins In Italy

Posted: 09 Jan 2012 09:11 AM PST

Apple Inc. (AAPL) recently scored another legal victory over its arch rival Samsung Electronics Co., after a Milan court rejected the Korean company's bid to ban the iPhone 4S sales in Italy. Apple seemed to be having a favourable run as this is Apple's second victory in consecutive months. Just last month, Samsung had failed to block iPhone 4S sales in France.
Apple and Samsung have been at loggerheads since April last year, suing each other over more than 30 patents across four … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chrysler To Hire For Detroit

Posted: 09 Jan 2012 09:11 AM PST

Chrysler Group LLC – controlled by Italy's Fiat SpA (FIATY) – plans to add 1,250 jobs at its two Detroit plants next year in order to manufacture new vehicle models. Among them, 1,100 will be added to the company's Jefferson North Assembly Plant and the rest to the Conner Avenue plant, which will be reopened later this year.
The new hires and a third shift at the Jefferson plant will help the company build a Jeep Grand Cherokee diesel model for North America. On the other hand, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

2012: A Silver Lining For The U.S. Office Market?

Posted: 09 Jan 2012 09:11 AM PST

According to the latest report published by Jones Lang LaSalle Incorporated (NYSE:JLL), a leading real estate investment trust (REIT), the U.S. office sector witnessed a spurt in market fundamentals in fourth quarter 2011 with a significant positive absorption and increase in occupancy and rents, although the performance remained relatively dispersed by both geographical location and market types.
Absorption refers to total square feet leased over a specific time period in a specific geographic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DOW Joins Forces With HON Unit

Posted: 09 Jan 2012 09:11 AM PST

The Dow Chemical Company (NYSE:DOW) is joining forces with UOP LLC, a subsidiary of Honeywell International Inc. (HON), to produce propylene at its petrochemical facility in Texas.
Dow will be using Honeywell UOP C3 Oleflex technology in its new propane dehydrogenation unit to convert shale gas-derived propane to propylene, a product used in the production of packaging, adhesives, coatings, cleaners and many other end-use applications. The facility will produce 750,000 metric tons per year of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tesoro Foresees Fourth Quarter Loss

Posted: 09 Jan 2012 09:11 AM PST

Independent refiner Tesoro Corporation (NYSE:TSO) expects to witness net loss per diluted share in the fourth quarter 2011, bruised by a low margin environment in California along with the weakening crude oil spread.
The company projects loss in the range of 55 cents to 80 cents per diluted share in the quarter, as against an impressive earnings figure posted in the previous quarter. The fourth quarter loss includes an estimated after-tax expense of approximately 9 cents per diluted share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Covidien Wraps Up BARRX Buy

Posted: 09 Jan 2012 09:11 AM PST

Health care major Covidien (NYSE:COV) has completed its takeover of California-based privately held BARRX Medical for roughly $325 million. The Ireland-based company forged a definitive deal to acquire all the outstanding shares of BARRX Medical in November 2011. The agreement also calls for future milestone payments.
BARRX Medical makes devices (ablation catheters/systems) for treating gastrointestinal diseases and Barrett's esophagus syndrome, a pre-cancerous condition of the lining of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Twin Deals For Jacobs Eng.

Posted: 09 Jan 2012 09:10 AM PST

Jacobs Engineering Group Inc. (NYSE:JEC) recently won a contract from IDEA Soda Ash and Calcium Chloride Company (ISACC) and another from Defense Information Systems Agency/Defense Information Technology Contracting Organization (DISA/DITCO) organization at Scott Air Force Base, Ill.
The first contract requires Jacobs to provide its engineering and project management services for the construction of a soda ash and calcium chloride production facility in Jubail’s Second Industrial City in Saudi … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Arrow’s Neutral Rating Reiterated

Posted: 09 Jan 2012 09:10 AM PST

We retain our Neutral recommendation on Arrow Electronics (NYSE:ARW).
Arrow has been focusing aggressively to capture more of emerging markets keeping in mind the present worldwide economic conditions. With the completion of the Seed International Ltd. (SEED) acquisition at Beijing, Arrow strengthened its foothold in China. Steps were also taken to proliferate the Asian markets by extending contract with SiTime Corp. to provide MEMS-based timing solutions to its Asian consumers.
Arrow recently … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Eagle’s Holiday Comps Up

Posted: 09 Jan 2012 09:10 AM PST

Clothing retailer American Eagle Outfitters Inc. (NYSE:AEO) achieved robust same store results for the holiday shopping season between November and December. The company's comparable store sales for the two month period ended December 31, 2011, rose 12% as shoppers responded favorably to the company's assortments and promotional events. This compares to a 7% decrease recorded in the year-ago period.
Owing to the support of shoppers, American Eagle registered a 15% increase in total sales for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Noble Still At Neutral

Posted: 09 Jan 2012 09:10 AM PST

We continue to remain Neutral on Noble Corp. (NYSE:NE) – a provider of diversified services for the oil and gas industry – for the long term.
Noble is experiencing strong demand for its jackup and floating rigs for drilling operations in 2012 and beyond with improved utilization and dayrates in Mexico, North Sea, Middle East and Asia. Again, Brazil, Africa and the Gulf of Mexico (GoM) are showing more interest in Noble's ultra-deepwater rigs. We believe the upturn in the international jackup … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shoe Carnival Trims Outlook

Posted: 09 Jan 2012 09:10 AM PST

Shoe Carnival Inc. (NASDAQ:SCVL) a retailer of family footwear in the United States, recently trimmed its outlook for the fourth quarter of 2011, as warm weather conditions adversely affected the demand for boots, particularly the women's category. On a comparable basis, the sale of boots dipped 15% in the fourth quarter compared with a double digit rise in the year ago period.
For the upcoming fourth quarter of 2011, the Evansville, an Indiana based company slashed its net sales forecast to $181 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Little Changed Ahead Of Alcoa

Posted: 09 Jan 2012 08:10 AM PST

01/09/12 US stocks hovered close to the flat line, as focus remained on the EU. Earnings season kicks off with Alcoa reporting after the closing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Golden Crosses Are Necessary But Insufficient

Posted: 09 Jan 2012 07:56 AM PST

An event occurred last week that was pretty much under most investors' radar screen; it was a Golden Cross in the DJ-30 Index.  If you don't know what Golden and Black Crosses are, you should take a look at this … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Remains Lower After Euro Talks, Hildebrand Resignation

Posted: 09 Jan 2012 07:52 AM PST

Forexpros – The U.S. dollar remained modestly lower against its major counterparts on Monday, as concerns over the sovereign debt crisis in the euro zone eased somewhat and markets digested news of Philippe Hildebrand's resignation from his post as chairman of the Swiss National Bank.

During U.S. morning trade, the dollar was lower against the euro, with EUR/USD easing up 0.09% to hit 1.2732.

Earlier in the day, German Chancellor Angela Merkel and French President Nicolas Sarkozy met to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Tumbles As U.S. East Coast To Remain Warm This Week

Posted: 09 Jan 2012 07:52 AM PST

Forexpros – Natural gas prices were down sharply on Monday, trading close to a 28-month low as sentiment on the heating fuel was dampened after forecasts called for warmer-than-normal weather across the U.S. east coast in the coming week.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD3.001 per million British thermal units during U.S. morning trade, tumbling 1.99%.

It earlier fell by as much as 2.2% to trade at a session low USD2.978 per million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Holds Gains After Merkel-Sarkozy Talks

Posted: 09 Jan 2012 07:43 AM PST

Forexpros – The pound held gains against the U.S. dollar on Monday, as market sentiment slightly improved after a positive meeting between French and German leaders on tighter fiscal coordination in the euro zone.

GBP/USD hit 1.5470 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.5456, adding 0.19%.

Cable was likely to find support at 1.5361, the low of December 29 and resistance at 1.5525, the high of January 6.

After meeting with French President … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Trims Gains As Investors Remain Cautious

Posted: 09 Jan 2012 07:33 AM PST

Forexpros – The euro trimmed gains against the U.S. dollar on Monday, as concerns over the ongoing sovereign debt crisis in the euro zone eased but investors remained jittery following a meeting between the leaders of France and Germany.

EUR/USD pulled back from 1.2785, the daily high, to hit 1.2744 during early U.S. trade, still up 0.20% on the day.

The pair was likely to find support at 1.2667, the session low and short-term resistance at 1.2812, Friday's high.

Earlier in the day, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Inch Higher After Franco-German Talks

Posted: 09 Jan 2012 07:24 AM PST

Forexpros – Gold futures were modestly higher on Monday, as the euro recovered against the U.S. dollar after French President Nicolas Sarkozy and German Chancellor Angela Merkel met to discuss ways to increase fiscal coordination within the single currency area.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,619.95 a troy ounce during U.S. morning trade, easing up 0.19%.

It earlier rose by as much as 0.48% to trade at a session … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Week, Same Story As Crude Stays Steady

Posted: 09 Jan 2012 02:00 AM PST

01/09/12 Front month crude prices remained above $101 a barrel to start the week as the dollar saw a slight decline against the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss Pairs Volatile After SNB President Resigns Amid Scandal

Posted: 09 Jan 2012 07:00 AM PST

Fundamental Headlines
• Draghi May Copy Bernanke on Path to Low Rates – Bloomberg
• U.S. Corporate Profit Growth Slows as Europe Drags – Bloomberg
• Merkel, Sarkozy Seek Growth, Jobs for Euro-zone – Reuters
• German Debt Yield Turns Negative – WSJ
• Hildebrand Resigns as Swiss Central Bank Chief – WSJ
European Session Summary
The fresh week appears to have given way to a fresh rally by higher yielding currencies and risk-correlated assets, leaving the U.S. Dollar at the back … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Edge Higher On New E.Z. Hopes; Dow Jones Up 0.02%

Posted: 09 Jan 2012 06:52 AM PST

Forexpros – U.S. stocks were moderately higher on Monday, after French President Nicolas Sarkozy and German Chancellor Angela Merkel met to discuss ways to increase fiscal coordination within the single currency area.

During early U.S. trade, the Dow Jones Industrial Average eased up 0.02%, the S&P 500 index advanced 0.03%, while the Nasdaq Composite index added 0.02%.

After meeting with French President Nicolas Sarkozy in Berlin earlier, German Chancellor Angela Merkel said she was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Fluctuates With EU Concerns, Iran Fears In Focus

Posted: 09 Jan 2012 06:46 AM PST

Forexpros – Crude oil futures fluctuated between gains and losses in choppy trade on Monday, as traders continued to monitor tensions between Iran and the U.S. as well as developments surrounding the euro zone's ongoing debt crisis.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD101.72 a barrel during early U.S. morning trade, easing up 0.15%.

The February contract traded in a range between USD102.14 a barrel, the daily high and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Lower As Market Sentiment Improves

Posted: 09 Jan 2012 06:32 AM PST

Forexpros – The U.S. dollar fell against its Canadian counterpart on Monday, erasing earlier gains as market sentiment improved after a meeting of French and German leaders on tighter fiscal policy in the euro zone.

USD/CAD hit 1.0254 during early U.S. trade, the daily low; the pair subsequently consolidated at 1.0261, shedding 0.22%.

The pair was likely to find support at 1.0208, the low of December 21 and resistance at 1.0308, the day's high.

After meeting with French President Nicolas … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets Modestly Lower On Merkel/Sarkozy Meeting

Posted: 09 Jan 2012 01:15 AM PST

01/09/12 Global equities were trading modestly lower this morning against its major counterparts as investors await the results of the meeting between German Chancellor Angela Merkel and French President Nicholas … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/CHF Hits Multi-month Low After SNB’s Hildebrand Resigns

Posted: 09 Jan 2012 06:09 AM PST

Forexpros – The euro dropped against the Swiss franc on Monday, falling to a three-and-a-half month low, following an announcement by the Swiss National Bank that Chairman Philipp Hildebrand had resigned with immediate effect.

EUR/CHF hit 1.2108 during European afternoon trade, the pair's lowest since September 20; the pair subsequently consolidated at 1.2135, shedding 0.11%.

The pair was likely to find support at 1.2107, the session low and resistance at 1.2161, the session high.

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

Forex – EUR/JPY Clings To Gains After Berlin Meeting

Posted: 09 Jan 2012 06:00 AM PST

Forexpros – The euro clung to gains against the yen on Monday, hovering just above an eleven-month low after French and German leaders met to advance discussions on tighter fiscal coordination in the euro zone.

EUR/JPY hit 98.25 during European afternoon trade, the daily high; the pair subsequently consolidated at 98, adding 0.12%.

The pair was likely to find support at 98.00 and resistance at 98.84, the high of January 6.

After meeting with French President Nicolas Sarkozy in Berlin … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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