Friday, January 13, 2012

DailyMarkets.com - Forex Trading: GBPUSD Moves Back Into Days Orginal Channel

DailyMarkets.com - Forex Trading: GBPUSD Moves Back Into Days Orginal Channel


Forex Trading: GBPUSD Moves Back Into Days Orginal Channel

Posted: 13 Jan 2012 08:18 AM PST

The news is all out and the GBPUSD has found a short covering bid. The price is back into the original day channel and is testing the 38.2% of  the days range. A move above would target the 50% and initial low in the London morning session at the 1.53196 area. The 100 bar MA and upside trendline is currently just above these levels (at the 1.5325 level) . If the 38.2% holds (traders may sell against the level on the first test), traders will be eyeing support at the 1.5275-79. This is the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


IBM Unveils New Security Software

Posted: 13 Jan 2012 08:05 AM PST

Information Technology (IT) giant, International Business Machines Corp. (IBM) recently unveiled its new analytics software called Security Role and Policy Modeler. Developed by IBM's newest division Security Systems, the software offers solutions for policy-based identity and access management governance issues.
IBM Security Role and Policy Modeler is a part of IBM Security Identity Manager. Security Role and Policy Modeler will help IT departments to regulate an individual's security … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


FTC Orders CVS To Settle Claims

Posted: 13 Jan 2012 07:50 AM PST

Recently CVS Caremark Corporation (NYSE:CVS) was asked by the Federal Trade Commission (FTC) to pay $5 million to settle all claims related to the company's misrepresentation of prices of certain Medicare Part D prescription drugs at CVS Caremark and Walgreen (NYSE:WAG)  pharmacies.  
The FTC alleged that from 2007 through November 2008, CVS Caremark's subsidiary RxAmerica posted wrong prices on its website for prescription drugs including medications to treat epilepsy and symptoms of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Natural Gas Adds To Losses On Warm Winter

Posted: 13 Jan 2012 07:39 AM PST

Forexpros – Natural Gas futures prices plummeted, hitting new 28 month lows on warm winter forecasts and modest supply drop.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD2.688 per million British thermal units during early U.S. trade, giving back another 0.33%

Prices are trading below the psychologically critical USD3.00 level as bearish sentiment was elevated after the Commodity Weather Group stated that temperatures on the U.S. East Coast … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bon-Ton’s Comps Dip, Cuts Outlook

Posted: 13 Jan 2012 07:35 AM PST

Bon-Ton Stores Inc. (NASDAQ:BONT), a department store chain, reported sluggish same-store sales results for the crucial holiday season and induced the company to trim its outlook for the fourth quarter of 2011. Comps went down 0.7% in the five-week period ended December 31, 2011 compared with a dip of 0.1% in the year-ago period. However, on a year-to-date basis, same-store sales declined 2.8% in December last year.
Total sales slipped 1.1% to $505.2 million during the five-week period ended … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Six Big Results Of $3.53 Natural Gas In 2012

Posted: 13 Jan 2012 07:33 AM PST

The U.S. Energy Information Administration is forecasting $3.53 for the average annual spot price of natural gas in 2012 (see chart above), which will be almost 12% lower than the average price this year of $4 per million BTUs. In the first few weeks of this year, the spot price of gas has been below $3 (data here). 

What are the six big results of $3.53 natural gas in 2012? According to energy expert John Hanger:

1. “Still lower natural gas bills for consumers, with a residential … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gloomy Year For Video Games

Posted: 13 Jan 2012 07:25 AM PST

Robust holiday sales were always expected to lift domestic video game sales, but it could only improve performance on a sequential basis. U.S. video game sales were up 36% sequentially in the month of December, as new versions of some famous franchises and positive consumer spending joined hands to drive the sales higher. However, the yearly comparison was not so upbeat, hinting at the lingering macro-economic factors.
According to the NPD Group, the video games industry logged revenues of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Corn Futures Post Steep Losses On Bearish USDA Report

Posted: 13 Jan 2012 07:18 AM PST

Friday, January 13, 2012
The bearish January USDA report has sparked a sell-off in the old crop/new crop Corn spread, lowering the old crop price premium by nearly 20 cents on Thursday alone. A look at the daily spread chart for the May/December 2012 Corn spread shows the May futures trading at a 59-cent premium to the December futures. The major support area for this spread is not found until the 44-cent area, and major support is not seen until just below a 30-cent May premium. Some traders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Moves Sharply Lower On Downgrade Rumors

Posted: 13 Jan 2012 07:18 AM PST

Forex Trading: EURUSD Makes New Week Lows Falling Below The 1.2661/65 Area

Posted: 13 Jan 2012 07:18 AM PST

U.S. Stocks Open Lower On Euro Zone Downgrade Worries; DOW Off 0.79%

Posted: 13 Jan 2012 07:08 AM PST

Forexpros – bsp;- U.S. stock opened the session sharply on a report that Standard & Poor’s may downgrade several euro zone nations and falling profits at financial bellwether JP Morgan Chase.

Near the open of U.S. trade, the Dow Jones Industrial Average plunged 94%, the S&P 500 gave back 0.89% and the Nasdaq Composite fell 0.59%.

A Dow Jones report citing European sources reported that rating agency, S&P plan on downgrading several euro zone nations in the near future sending … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Reynolds Climbs To Outperform

Posted: 13 Jan 2012 07:05 AM PST

We upped Reynolds American Inc. (NYSE:RAI), the owner of popular brands of cigarettes like Camel, Pall Mall, Winston, and Dunhill, from Neutral to an Outperform rating, based on rising investor confidence in this tobacco stock. The company was selected for the Dow Jones Sustainability Index. Moreover, the tobacco industry, which is consistently showing resilience to the economic headwinds, is increasingly attracting the investors.
Management remains committed to stimulating demand through … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Oil Surge Stops, Trades Below $99

Posted: 13 Jan 2012 07:05 AM PST

01/13/12 Reports of a delay in a European embargo of Iranian oil has sent prices sharply lower this morning. Front month crude is trading below $99 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. UoM Consumer Sentiment Rises More-than-expected

Posted: 13 Jan 2012 07:05 AM PST

Forexpros – U.S. UoM consumer sentiment rose more-than-expected last month, preliminary data showed on Friday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 74.0, from 69.9 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 70.6 last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Donnelley Wins Another Contract

Posted: 13 Jan 2012 06:50 AM PST

R. R. Donnelley & Sons Company (NYSE:RRD) recently won a multi-year multi-million dollar contract from Chrysler Group LLC. By virtue of the contract, Donnelley will be providing its Print Management services to the automobile manufacturing company.
Donnelley, under the contract terms, is to provide Chrysler with a central point of printing and distribution of labels and forms, direct mail, logistics and commercial printing. The print management services are expected to be cost effective for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Dollar Back On Top As Downgrade Rumors Swirl Around France

Posted: 13 Jan 2012 06:48 AM PST

Fundamental Headlines
• U.S. Trade Deficit Widens Beyond Forecast – Bloomberg
• Italy Bond Auction Fails to Match Spanish Success – Reuters
• JPMorgan Profit Falls, but Sees Hope in Economy – Reuters
• Several Euro-zone Countries Could Face S&P Downgrade – WSJ
• Obama to Propose Merging Agencies – WSJ
European Session Summary
Markets were calm ahead of North American trading, with higher yielding currencies and risk-correlated assets paring back some of Thursday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Philip Morris: Tobacco Saves Life

Posted: 13 Jan 2012 06:36 AM PST

While the governments of several countries are forcing the tobacco biggies to showcase the deadly effects of cigarettes through their packets, Philip Morris International (NYSE:PM) has interestingly geared up to prove that tobacco can save lives too.
To strengthen its mission, the company has invested heavily for a 40% stake in the Canadian biotech company Medicago Inc., helping the latter to develop influenza vaccines. Incidentally and interestingly, the vaccine for flu is being developed using … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


The Energy Treasures Beneath Our Feet

Posted: 13 Jan 2012 06:27 AM PST

From an editorial by Pete Jermann, a self-employed craftsman and home-schooling father from Olean, New York (full article here, shorter version here):

“To look on the treasures beneath our feet as a threat to our comfort rather than a contribution we can make to a more vibrant world economy, one that multiplies wealth rather than redistributes a static wealth, is simply selfish.

When we accept no risk in our own backyards, we have no right to expect it of those whose backyards have provided … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Friday The 13th Not Lucky For JPMorgan

Posted: 13 Jan 2012 06:25 AM PST

Stocks will find it difficult to sustain their upward drift of recent days in the face of lackluster results from banking bellwether JP Morgan (NYSE:JPM) and the absence of anything meaningful on the economic calendar. This morning's bigger-than-expected November Trade Deficit number, though not a market-moving release, adds to the negative headlines.
An outsized gain in the University of Michigan Consumer Sentiment Index, on deck for release a little later, could potentially help lift … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Finds Support Against The 100 Hour MA And Week Midpoint

Posted: 13 Jan 2012 06:21 AM PST

The EURUSD has found support today against the 100 hour MA (blue line) and the 50% of the weeks range. The high to low trading range for the week is a relatively small 216 pips. This rivals the low ranges in December of 205, 214 and 225.  You have to go back to August 2011 to have a more narrow week.  Perhaps there are more fireworks in store for us next week in the pair.
With support holding against key support, traders will be focusing on the retracement. If the price decline … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Breaks Lower. Falls Below 100 Hour MA.

Posted: 13 Jan 2012 06:21 AM PST

Not seeing any news for the quick reversal. The 1.2764-69 is now resistance for the pair.  Equals the 100 hour MA and the 50% midpoint of the weeks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDJPY Breaks Above Trendline/100/200 Hour MA. And Stops At 50%

Posted: 13 Jan 2012 06:21 AM PST

Well the USDJPY broke on the greenback buying, moving above the 100 and 200 hour MA, trendline adn 38.2% of the new years range. but stopped at the 50%. Now support at 76.91 and the 100 and 200 hour MA at 76.85.  Can the USDJPY … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CNS Cure Priority For UCB & Partner

Posted: 13 Jan 2012 06:20 AM PST

UCB (UCBJF) along with Japanese pharmaceutical company Otsuka Pharmaceutical Co., Ltd. recently announced that they have decided to focus on the development of therapeutics for central nervous system (CNS) disorders, while they would discontinue their collaboration in immunology.
As a result of the aforesaid decision, the companies will end their co-development and co-promotion agreement for Cimzia (certolizumab pegol) in Japan, after a mutually decided period. Cimzia is currently marketed in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Stock Market News Briefs: Dick’s Sporting Goods Inc, Infosys Technologies Limited, J P Morgan Chase & Co, Multi-Fineline Electronix, Williams-Sonoma

Posted: 13 Jan 2012 06:20 AM PST

    Sporting goods retailer Dick's Sporting Goods Inc.'s (NYSE:DKS) share prices surged 12.47% after the company announced plans to buy back as much as $200 million of its own shares

    Share prices of circuit board manufacturer of wireless devices Multi-Fineline Electronix, Inc. (NASDAQ:MFLX)  rose more than 17% to close at $25.40 after its sales forecast for the first quarter topped estimates

    U.S. listed shares of Indian software company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Downgrade Concerns Turn Stocks South

Posted: 13 Jan 2012 01:15 AM PST

01/13/12 Global equities were in the red to start Friday as an underwhelming Italian debt auction, another spike in ECB deposits, and downgrade concerns has kept bullish investors on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Legg Mason’s December AUM Perks Up

Posted: 13 Jan 2012 06:05 AM PST

Baltimore-based Legg Mason Inc. (NYSE:LM) experienced a rise in its assets under management (AUM) in December on a sequential basis. This was preceded by a decline in November and a rise in October AUM.
Preliminary month-end AUM came in at $627.0 billion, up 1.0% from $620.6 billion at the end of November. Though equity AUM plummeted, fixed income AUM and liquidity AUM climbed compared with the prior month.
Legg Mason's equity AUM as of November inched down 1.6% from the prior month to $153.3 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – U.S. Dollar Higher On Disappointing Bond Auction

Posted: 13 Jan 2012 06:01 AM PST

Forexpros – The U.S. dollar traded higher against its major counterparts Friday after Italian borrowing costs fell less at a note sale today than yesterday dashing hopes of continued improvement in the economically struggling nation.

During London trade, the greenback moved higher against the euro, with EUR/USD falling 0.23% to hit 1.2784.

Italy sold euro3 billion of noted due in November 2014 today at an average yield of 4.83%. This is down from 5.62% during December 29th’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


ABB Wins Largest Gas Platform Deal

Posted: 13 Jan 2012 05:50 AM PST

ABB Ltd. (NYSE:ABB) received a $25 million contract for AC subsea power cables from Statoil. The power cables will be deployed in the offshore gas platform, Troll A, located at about 70 kilometers off the west coast of Norway. This is the world's largest offshore gas platform. Booking on the order started in the fourth quarter of 2011.
ABB will be supplying 69 kilometers of 3-core cable with integrated fiber optics, accessories and joints providing a clean and a energy efficient source of power. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Trade Balance Falls More-than-expected

Posted: 13 Jan 2012 05:40 AM PST

Forexpros – The U.S. trade balance fell more-than-expected last month, official data showed on Friday.

In a report, Bureau of Economic Analysis said that U.S. trade balance fell to a seasonally adjusted -47.8B, from -43.5B in the preceding month.

Analysts had expected U.S. trade balance to fall -44.6B last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Tractor Ups Outlook On Strong Sales

Posted: 13 Jan 2012 05:35 AM PST

Tractor Supply Company (NASDAQ:TSCO) provided a sneak preview of its fourth -quarter results while citing a robust sales performance during the quarter, which raised its fiscal 2011 profit forecast. Tractor Supply raised its earnings expectation for fiscal 2011 between $2.97 and $2.99 per share from $2.85 to $2.89 per share.
The company anticipates a benefit of approximately 9 cents to be included in its annual earnings guidance for an extra sales week included in the fourth quarter. The current … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Glaxo And Theravance Suffer Setback

Posted: 13 Jan 2012 05:25 AM PST

GlaxoSmithKline (NYSE:GSK) and Theravance, Inc. (NASDAQ:THRX) recently announced top-line data from pivotal phase III studies conducted with pipeline candidate, Relovair, for chronic obstructive pulmonary disease ("COPD") and asthma. Relovair is a combination of fluticasone furoate and vilanterol.
In the two COPD studies, Relovair reduced the annual rate of moderate-to-severe exacerbations (worsening of severity of disease) compared to vilanterol. However, in the second study, the reductions were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Shaw Communications Beats In 1Q ’12

Posted: 13 Jan 2012 05:20 AM PST

Shaw Communications Inc. (NYSE:SJR) declared its first quarter of fiscal 2012 financial results, beating the Zacks Consensus Estimates. Net income for the reported quarter was $200 million or 43 cents per share compared with a net income of $17 million or 3 cents per share in the prior-year quarter. Adjusted EPS of 46 cents was a penny higher than the Zacks Consensus Estimate.
Quarterly total revenue of approximately $1,266 million was up 19% year over year and was well above the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Lower On Stronger Dollar Despite Chinese Demand

Posted: 13 Jan 2012 05:16 AM PST

Forexpros – Gold futures dropped again Friday as euro zone fears strengthened the safe haven appeal of the greenback despite heavy Chinese demand for the yellow metal.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1640.45 a troy ounce during mid U.S. trade falling 0.44%. It earlier hit a high of USD1651.05 and posted a low of 1635.75.

Gold futures were likely to find support at USD1631.05 a troy ounce and technical resistance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/GBP Down In European Trade

Posted: 13 Jan 2012 04:30 AM PST

Forexpros – The Euro was lower against the British Pound on Friday after the release of U.K. data on PPI Input.

EUR/GBP was trading at 0.8336, down 0.26% at time of writing.

The pair was likely to find support at 0.8224, Monday's low, and resistance at 0.8377, today's high.

Earlier in the day, official data showed that Producer price inflation input in the U.K. fell unexpectedly to a seasonally adjusted -0.6% last month from 0.3% in the preceding month whose figure was revised up from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Falls On Italian Note Auction

Posted: 13 Jan 2012 04:30 AM PST

Forexpros – The euro fell against the U.S. dollar Friday after Italian borrowing costs declined less at a note auction today than yesterday’s auction.

EUR/USD hit a low of 1.2767. The pair is off a high of 1.2878 and is currently trading at 1.2783 down 0.25%.

The pair was likely to find support at 1.2662, Wednesday’s low and technical resistance exists at 1.2878, today’s high.

The single currency fell after an Italian bond auction failed to live up to expectations set yesterday.

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


Forex – AUD/USD Up In European Trading Hours

Posted: 13 Jan 2012 04:00 AM PST

Forexpros – The Australian Dollar was higher against the U.S. Dollar on Friday.

AUD/USD was trading at 1.0342, up 0.09% at time of writing.

The pair was likely to find support at 1.0146, Monday's low, and resistance at 1.0378, Thursday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.32% to hit 1.2364 and AUD/JPY rising 0.06% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Down In European Trade

Posted: 13 Jan 2012 03:10 AM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Friday.

USD/JPY was trading at 76.71, down 0.06% at time of writing.

The pair was likely to find support at 76.67, today's low, and resistance at 77.04, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.16% to hit 1.2794 and GBP/USD falling 0.001% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


How To Screen For Ben Graham Net Current Asset Value Bargains

Posted: 13 Jan 2012 01:23 AM PST

In Brief
How to buy a stock when it's selling for less than you'd receive even in the harshest firesale of its assets.
Background
Benjamin Graham was the tutor of Warren Buffett and the father of security analysis. He was a very successful investor and left behind a ream of literature for both professional and private investors. One of his most famous strategies was to buy well diversified portfolios of companies that were selling at bargain basement prices. His definition of what was a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


No comments:

Post a Comment