Tuesday, January 17, 2012

DailyMarkets.com - Hot Option Plays: Morning Rally Loses Some Steam

DailyMarkets.com - Hot Option Plays: Morning Rally Loses Some Steam

Hot Option Plays: Morning Rally Loses Some Steam

Posted: 17 Jan 2012 02:18 PM PST

Cusick’s Corner 01-17-2012
After a break in the 1300 level on the S&Ps, the market was unable to hold all of the early morning gains. The Financials were the anchor, as we have another miss – Citi (NYSE:C) reported, and this market will need the Financials to lead if the market is going to keep this upside. Keep an eye on the Euro currency, FXE, it has come off some of its worst levels, want to see that hold. See you Midday.
Stock market averages held modest gains with help from economic news … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FMC, Anadarko Sign Service Deal

Posted: 17 Jan 2012 02:10 PM PST

Oil drilling equipment maker  FMC Technologies Inc. (NYSE:FTI) inked a deal with Anadarko Petroleum Corporation (NYSE:APC), whereby it will render subsea systems and life-of-field services to the latter. None of the parties disclosed the financial terms of the agreement.
The Woodlands-based exploration and production company Anadarko will utilize the services for the development of the Lucius project in the Gulf of Mexico. The field is located in water depth of approximately 7,100 feet and about … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

HealthSpring Shareholders Approve Merger

Posted: 17 Jan 2012 02:00 PM PST

The acquisition of HealthSpring Inc. (NYSE:HS) by CIGNA Corp. (NYSE:CI) has received the approval of the former company’s shareholders. The approval came from approximately 83% of the shareholders, at a special meeting held on January 12, 2012.
The acquisition was announced by Cigna in October last year. HealthSpring's vast Medicare business with a trusted brand name made it the best fit for Cigna, which intends to foray into the rapidly growing Medicare Advantage business.
With this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Conoco To Halve Alberta Oil Sands

Posted: 17 Jan 2012 02:00 PM PST

An integrated oil company, ConocoPhillips (NYSE:COP) intends to shed 50% interest in six of its Canadian oil sands holdings. Currently, the properties yield 12,000 barrels a day from an estimated 30 billion barrels of bitumen in place. The assets have a capability to produce in excess of half a million barrels a day in due course of time.
ConocoPhillips has booked Scotia Waterous to search for a partner for its Alberta properties. With a total acreage of 715,000 acres, ConocoPhillips is seeking a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Supreme Court Declines To Hear Standard Chartered V FINRA

Posted: 17 Jan 2012 01:54 PM PST

In the fall of 2009 I was asked by some Washington based attorneys if I was aware of a case known as Standard Chartered v FINRA. I informed them that I did not know the case.
These attorneys shared with me information that seemed to expose that the merger of two regulators to form Wall Street's current SRO FINRA was predicated on a proxy statement that included misinformation. I was enormously intrigued and tracked the case closely, including paying a visit into the federal courthouse in New … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Close Higher On Bullish Worldwide Data; DOW Up 0.48%

Posted: 17 Jan 2012 01:42 PM PST

Forexpros – bsp;- U.S. stocks extended their 2 week rally Tuesday on bullish domestic and international economic data.

At the close of U.S. trade, the Dow Jones Industrial Average gained 0.49%, the S&P 500 advanced 0.36% and the Nasdaq Composite closed higher by 0.64%.

Stocks advanced as a report indicated that manufacturing in the New York region expanded in January at the fastest pace in nine months adding to the bullish sentiment.

A German investor confidence index rocketed higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polycom To Integrate IBM Sametime

Posted: 17 Jan 2012 01:25 PM PST

Polycom, Inc. (NASDAQ:PLCM) recently entered into a strategic partnership with IBM (NYSE:IBM) to incorporate its popular RealPresence video solutions technology with IBM's interactive application called IBM Sametime and IBM Connections.
Polycom's RealPresence video technology that host video conferences for enterprise clients are quite similar to IBM Sametime application, which facilitates Web conferencing and group chat within an organization. Hence, the integration of Sametime application with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usd/hkd Broke Out Of An Hourly Wedge.

Posted: 17 Jan 2012 01:18 PM PST

usd/hkd broke out of this hourly wedge and gaped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usd/cnh Finally Peeking Through The Bottom Of The Wedge.

Posted: 17 Jan 2012 01:18 PM PST

usd/cnh finally peeking through the bottom of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BSX Showcases Positive Data

Posted: 17 Jan 2012 01:10 PM PST

Boston Scientific Corporation (NYSE:BSX) presented results from its Orion trial at a conference in Miami. The study, which enrolled 125 patients, demonstrated positive outcome for its Epic self-expanding nitinol stent system in patients with iliac artery disease. This is a form of peripheral artery disease associated with severe leg pain caused by insufficient blood flow.
The company announced that the trial met its primary endpoint. Besides, patients experienced significant clinical improvement … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oclaro Recovers From Thailand Flood

Posted: 17 Jan 2012 01:10 PM PST

Earnings estimates for Oclaro, Inc. (OCLR) have declined a bit lately ahead of the second quarter results of fiscal 2012.
Earlier this month, Oclaro reported preliminary results for the December quarter. The company now expects revenues of approximately $86 million, surpassing management's previous guidance of $75 million – $85 million.
The company remains keen to restart production in Thailand following the intensive floods and minimize impact to customers. The company has already … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: F5 Networks

Posted: 17 Jan 2012 01:10 PM PST

F5 Networks Inc. (NASDAQ:FFIV) is scheduled to announce its first quarter fiscal 2012 results on January 18, 2012, and we notice no material movement in analyst estimates.
Fourth Quarter Overview
F5 Networks delivered impressive fourth quarter results, beating the Zacks Consensus Estimate by 7 cents on the bottom line. The quarter's earnings came in at 84 cents, up 42.4% from the year-ago quarter. The outperformance was attributable to solid revenues aided by growing demand for the company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dick Morris TV: Union Power Grab

Posted: 17 Jan 2012 12:48 PM PST

In the video above, Dick Morris explains why Obama’s recess appointments to the Labor Relations Board could mean coerced, mandatory … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Continue Upward Trend

Posted: 17 Jan 2012 12:45 PM PST

Forexpros – Gold futures advanced for the second day on Tuesday hitting the highest level since mid December on a weakening U.S. dollar and worries about a possible Greek default.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1651.55 a troy ounce during late U.S. trade advancing 1.27%.

Earlier prices hit a high of USD16367.95 surging 2.05%.

Gold futures were likely to find support at USD1631.95 a troy ounce, Monday’s low and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Raytheon In Patriot Upgrade Deal

Posted: 17 Jan 2012 12:30 PM PST

Raytheon Company (NYSE:RTN) has received a $51.3 million contract from the U.S. Army Aviation and Missile Command ("AMCOM") to upgrade and configure the Patriot Advanced Capability-2 missiles into the Guidance Enhanced Missile-Tactical (GEM-T) pattern.
Patriot is a long-range, all-altitude, all-weather air defense system that protects against a full range of advanced threats, including aircraft, tactical ballistic missiles, cruise missiles and unmanned aerial vehicles. The work on the Patriot … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Plunge 18% In 6 Sessions

Posted: 17 Jan 2012 12:24 PM PST

Forexpros – Downward pressure remains heavy on natural gas as prices plunged to new 28-month lows for the sixth straight day on Tuesday, as forecasts as warm winter weather forecasts in the U.S. and bearish worries over high inventory levels continued to weigh on the heating fuel.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD2.487 per million British thermal units during late U.S. trade, plummeting 6.85%.

Prices plunged earlier by as much as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Affymetrix, BGI Join Forces

Posted: 17 Jan 2012 12:08 PM PST

Genetic products maker Affymetrix (NASDAQ:AFFX) has inked a Memorandum of Understanding ("MOU") with leading genomics center "BGI" to co-develop and commercialize microarrays for genotyping analysis (a process used to analyze genetic differences between organisms or cells). The collaboration will aim at developing and marketing a range of plant, crop, and livestock microarrays in an effort to broaden the use of molecular tools in agriculture.
The partnership is expected to benefit the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PSMH: Update On Iowa Mortgage Professionals, Inc. Acquisition

Posted: 17 Jan 2012 12:00 PM PST

PSMH: Update on Iowa Mortgage Professionals, Inc. Acquisition
Ann Heffron, CFA

On January 13, 2012, PSMH released pro forma financial statements for its acquisition of Iowa Mortgage Professionals, Inc. (IMP), which closed on November 1, 2011. Iowa Mortgage Professionals, Inc. is a mortgage banking and brokerage company based in Des Moines, Iowa, and had annual loan production of $164 million in 2010. The principal owner of IMP, Mr. Randy Stevens, received 1,285,714 shares of PSMH in exchange … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China’s Internet Users Top Half Billion

Posted: 17 Jan 2012 12:00 PM PST

01/17/12 According to an official CNNIC report, the number of Internet users in China soared to 513 million in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Novartis To Cut Jobs

Posted: 17 Jan 2012 11:50 AM PST

Continuing the cost-cutting trend which was started by its US counterparts, Swiss company Novartis (NYSE:NVS) recently announced that it will lay off 1,960 employees in the US in anticipation of lower revenues from two of its hypertension medicines.
Novartis' blockbuster hypertension drug Diovan loses patent expiration in the US in September 2012. Diovan, which recorded revenue of $1.4 billion in the third quarter of 2011, will greatly weigh upon Novartis' top line once its patent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Colombia Coffee Yield At Record Low

Posted: 17 Jan 2012 11:50 AM PST

Colombia, the world's second largest coffee producer and exporter, is experiencing consistent bad weather, following which the coffee production dropped 12% to 7.809 million bags in 2011. This is the lowest level witnessed since 1976 from 8.923 million bags a year earlier.
Colombia's exports experienced a significant decline of 1.2% driven by excess rainfall, diseases and a lack of sunshine, which curbed output.
Recently, the coffee growing regions in Colombia, which is second only to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FSLR Sets Module Efficiency Record

Posted: 17 Jan 2012 11:50 AM PST

First Solar Inc. (NASDAQ:FSLR) announced it set a new world record for cadmium-telluride (CdTe) photovoltaic (PV) solar module efficiency, achieving 14.4% total area efficiency. The U.S. Department of Energy's National Renewable Energy Lab (NREL) confirmed the record, which eclipsed the prior record of 13.4%, which was also set by First Solar.
The record performance, announced at the World Future Energy Summit in Abu Dhabi by First Solar Chief Technology Officer Dave Eaglesham, comes just six … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – U.S. Dollar Lower On Positive Euro Zone Numbers, Risk Embrace

Posted: 17 Jan 2012 11:28 AM PST

Forexpros – The U.S. dollar traded lower against its major counterparts Tuesday on strong German confidence numbers and sharply lower Spanish yields signaling investors to embrace risk.

During late session U.S. trade, the greenback traded lower against the euro, with EUR/USD gaining 0.55% to hit 1.2736.

The euro surged over 1% earlier when the German ZEW investor confidence index jumped the most on record. The numbers advanced from minus 21.6 to minus 53.8 in December, the largest gain … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Intuitive

Posted: 17 Jan 2012 11:25 AM PST

Intuitive Surgical (NASDAQ:ISRG) is slated to report its fourth quarter and fiscal 2011 results on Thursday, January 19, 2012. The current Zacks Consensus Estimates for the fourth quarter and fiscal year are $3.34 and $11.89, representing an estimated 10.7% and 25.57% annualized growth, respectively.
Third Quarter Recap
Intuitive reported third-quarter 2011 earnings per share of $3.05, beating the Zacks Consensus Estimate of $2.76 and surpassing the year-ago quarter's earnings of $2.14.
Revenues … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Market’s Acting Like It’s 1999

Posted: 17 Jan 2012 11:18 AM PST

Cusick’s Corner
When I woke up this morning and saw the gap up in the futures in spite of debt downgrades, potential Greek default, a global cash infusion and Chinese easing, I felt like I woke up in 1999 where whatever news came out, the market would still grind up. And as you have heard before, you do not want to fight a tide. I also would not be trying to pick a top. Watch the crude markets, weakness could hit there first. See you After Hours.
Stock market averages are holding gains with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UDR Acquires JV Property

Posted: 17 Jan 2012 11:06 AM PST

UDR, Inc. (NYSE:UDR), a leading multifamily real estate investment trust (REIT), has recently acquired 'Columbus Square' – a luxury apartment community comprising 5 high-rise buildings in New York City, through its joint venture with MetLife, Inc. (NYSE:MET). Both UDR and MetLife have a 50% interest each in the joint venture dubbed UDR/MetLife II.
The transaction, worth $630 million, is arguably the biggest of its kind in Manhattan in the last 4-year period. The property was purchased from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: EBay Inc.

Posted: 17 Jan 2012 11:06 AM PST

eBay Inc. (NASDAQ:EBAY) is scheduled to announce its fourth quarter fiscal 2011 results on January 18, 2012, and we notice no movement in analyst estimates.
Prior-Quarter Synopsis
eBay's third quarter 2011 earnings per share (EPS) of 40 cents (excluding one-time items and including stock-based compensation) were level with the Zacks Consensus Estimate.
The company reported gross revenue of $2.97 billion, up 7.4% sequentially and better than the Consensus expectation of $2.91 billion. Over 86% of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Another Gas Find For Anadarko

Posted: 17 Jan 2012 11:06 AM PST

Independent oil and gas producer Anadarko Petroleum Corporation (NYSE:APC) made another discovery off the coast of Mozambique. This new find to a large extent substantiated the company's projection that the Offshore Area 1 of Mozambique’s Rovuma Basin at the Lagosta prospect has 15 -30 trillion cubic feet (Tcf) of recoverable natural gas.
The exploration well Lagosta-2, drilled at a total depth of approximately 14,223 feet (4,335 meters), encountered about 4,813 feet (1,467 meters) of water. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polcari: “Pent-up Demand For US Equities…people Want To Jump In”

Posted: 17 Jan 2012 10:50 AM PST

01/17/12 ICAP Equities’ Kenneth Polcari discusses the S&P downgrades of several EU nations, the latest economic data and earnings … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Break USD100 On China, Iran Fears

Posted: 17 Jan 2012 10:34 AM PST

Forexpros – Crude oil futures broke the psychologically critical USD100.00 per barrel level Tuesday on Iranian supply fears and Chinese economic numbers.

On the New York Mercantile Exchange, light sweet crude futures for February settlement traded at USD100.70 a barrel during mid U.S. trade adding 1.84%.

It earlier climbed to USD101.19 adding 2.2% to trade at the highest level since last Thursday.

Weakness in the U.S. dollar helped lift crude oil prices. The dollar index, which tracks the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Starwood To Outperform Ahead

Posted: 17 Jan 2012 10:25 AM PST

We have an Outperform recommendation on Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) based on its strong expansion plan, significant international exposure, portfolio restructuring, earnings power as well as returns to shareholders.   
Based in White Plains, New York, Starwood has embarked on an expansion plan, which is faster than many of its peers. Also, the solid brand recognition of the company allows it to charge a premium for its hotel rooms. With the average daily rate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests 50% And 100 Hour MA Again

Posted: 17 Jan 2012 10:18 AM PST

The EURUSD is back down testing the 100 hour MA (blue line ) and 50% retracement of the days range at the 1.2727 level.  The two support levels were tested in the NY morning and fell below the support, but found support at the 61.8% before correcting back higher.  Now,  another test will either confirm the downside or refute the move. This could be the clue that market is waiting for.  Then again it could just lead to the rotation back to the 200 hour MA (green line).  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

When Are You Sure Your Mortgage Is Approved?

Posted: 17 Jan 2012 10:16 AM PST

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


Forex – EUR/USD Advances On Falling Yields, ZEW Report

Posted: 17 Jan 2012 10:11 AM PST

Forexpros – bsp;- The euro advanced against the U.S. dollar Tuesday as yields fell at auction and German investor confidence soared.

EUR/USD hit a low of 1.2650 during U.S. trade. The pair is off a high of 1.2807 and is currently trading at 1.2729 up 0.49%.

The pair was likely to find support at 1.2625, Monday’s low and technical resistance exists at 1.2844, the high of January 12th.

he single currency gained strength as The German ZEW investor confidence index surged the most on record. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

France Telecom To Exit Austria

Posted: 17 Jan 2012 10:10 AM PST

France Telecom S.A. (NYSE:FTE) is in talks to sell its 35% stake in Orange Austria to Hong Kong-based conglomerate Hutchison Whampoa Ltd for €1.4 billion ($1.78 billion). Orange Austria is jointly owned by France Telecom and private equity firm Mid-Europa Partners.
The move is consistent with the company's broader European portfolio asset review and strategy to divest minority holdings. The company primarily intends to shed its underperforming assets in Europe (Switzerland, Austria, Belgium … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alcoa Shuts Smelter In Italy (revised)

Posted: 17 Jan 2012 10:10 AM PST

Aluminum giant Alcoa Inc. (NYSE:AA) announced that it will close its Portovesme smelter in Italy, despite Rome's interest in keeping operations on the island of Sardinia running.
Further, Alcoa added that it will close its smelter in Italy and slash output at two Spanish smelters as a measure to cut costs and also as a part of its effort to reduce global output by 12%.
The government has proposed to suspend a collective dismissal procedure, known as mobilita in Italian, which usually leads to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forest Beats, Ups View

Posted: 17 Jan 2012 10:04 AM PST

Forest Laboratories, Inc. (NYSE:FRX) reported earnings per share of $1.04 in the third quarter of fiscal 2012, beating the Zacks Consensus Estimate of $1.00. Third quarter fiscal 2012 earnings, however, came in below the year-earlier earnings of $1.34. Despite an increase in revenues, higher costs led to the year-over-year decline in earnings.
Third quarter revenues increased 7.4% to $1.21 billion, with net sales increasing 9.2% to $1.16 billion. Total revenues topped the Zacks Consensus Estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing 4Q For Citigroup

Posted: 17 Jan 2012 09:50 AM PST

Citigroup Inc.'s (NYSE:C) fourth-quarter 2011 earnings per share of 38 cents missed the Zacks Consensus Estimate of 50 cents. The company's earnings per share also deteriorated from the prior quarter's $1.23 and year-ago quarter’s 40 cents.
For full year 2011, Citigroup's earnings came in at $3.66 per share. This also fell short of the Zacks Consensus Estimate of $3.83 per share. Yet, the results improved from $3.55 earned in the prior year.
With the weakness in the economy as a whole and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wells Fargo Beats Ests By A Penny

Posted: 17 Jan 2012 09:50 AM PST

Wells Fargo & Company's (NYSE:WFC) fourth quarter 2011 earnings of 73 cents per share were a penny ahead of the Zacks Consensus Estimate. Results improved from earnings of 72 cents in the prior quarter and 61 cents in the year-ago quarter.
Wells Fargo's results were driven by higher top line, and improved credit quality along with strong capital ratios were positives during the reported quarter. However, increased operating expenses were on the downside.
Wells Fargo's fourth quarter net … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

M&T Bank Misses Estimate

Posted: 17 Jan 2012 09:50 AM PST

M&T Bank Corporation's (NYSE:MTB) fourth quarter 2011 operating earnings of $1.20 per share were significantly below the Zacks Consensus Estimate of $1.46. Earnings also lagged earnings of $1.53 per share in the prior quarter and $1.52 in the year-ago period.
For full year 2011, operating earnings surged 12% to $6.55 from $5.84 in 2010. However, the figure was below the Zacks Consensus Estimate of $6.76 per share. 
Quarterly results were aided by an increase in net interest income and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valmont Upgraded To Outperform

Posted: 17 Jan 2012 09:50 AM PST

We are upgrading our recommendation on Valmont Industries (NYSE:VMI) to Outperform from Neutral. The company is primarily engaged in the production of fabricated metal products, metal and concrete pole and tower structures and mechanized irrigation systems in the U.S. and abroad.  
Valmont Industries reported strong third-quarter 2011 net earnings of $1.59 per share, up 62% year over year. Revenues jumped 27.4% to $672.2 million, driven by a significant growth in Irrigation Segment sales, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Rally Continues On Data, Risk Appetite

Posted: 17 Jan 2012 04:45 AM PST

01/17/12 The euro currency continued to rise against the dollar this afternoon following the release of strong global economic data which even had the euro trading as high as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

KeyCorp Remains On The Sidelines

Posted: 17 Jan 2012 09:36 AM PST

We are maintaining our long-term "Neutral" recommendation on KeyCorp (NYSE:KEY) based on its improving credit quality, stable capital position and various on-going initiatives to enhance its market share. However, the volatile operating environment along with increased costs related to the Basel III and new financial regulations are expected to have a negative impact on the company's financials.
We view KeyCorp as an asset for yield-oriented investors. The company increased its quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Stocks Surge On China’s Numbers, German Confidence; DAX Up 1.82%

Posted: 17 Jan 2012 09:35 AM PST

Forexpros – bsp;- European shares surged higher Tuesday on strong GDP numbers from China and a record breaking German investor confidence number.

After the close of European trade, the EURO STOXX gained 1.49%, France’s CAC 40 climbed 1.40%, while Germany’s DAX closed up 1.82%. Meanwhile, in the U.K. the FTSE 100 added 0.65%.

Gross Domestic Product in China increased 8.9% in the fourth quarter year over year. While the economy expanded at the slowest pace in 10 quarters raising speculation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ABB Completes HVDC Commissioning

Posted: 17 Jan 2012 09:31 AM PST

ABB Ltd.(NYSE:ABB) completed the commissioning of the HVDC (high-voltage direct current) Fenno-Skan 2 power link between Finland and Sweden. The power link is a cable-based power transmission system, facilitating 800 MW of additional power transmission between the two countries. The Fenno-Skan link, owned and operated by Fingrid and Svenska Kraftnät, overcomes various hindrances in power transmission in the region.
Converter stations in Rauma on the Finnish side and in Finnböle in Sweden are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Bank Of America, Citigroup, J P Morgan Chase & Co

Posted: 17 Jan 2012 09:31 AM PST

 

    During a hearing in Franfurt, Presiding Judge Daniel Koehle said JP Morgan Chase & Co. (NYSE:JPM) and the German city of Pforzheim should settle their dispute over losses of 56 million Euros on an interest rate swap.

    Bank of America Chairman (NYSE:BAC) Chad Holliday expressed his continued support for CEO Brian Moynihan at a conference in the light of the bank's declining stock price.

    Citigroup (NYSE:C) is scheduled to declare its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China News Tops Earnings Results

Posted: 17 Jan 2012 09:31 AM PST

Reassuring news out of China and Europe should help stocks start the holiday-shortened week on a positive note. Data from China shows that the economy is slowing, but the pace of slowdown appears to be a lot steadier than many had been fearing.
Europe is handling the rating downgrades a lot better, with yields on government bonds continuing their downtrend of the last many days. This should help offset the drag from weak Citigroup (NYSE:C) results this morning.
With respect to Europe, we have … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Plexus Corp.

Posted: 17 Jan 2012 09:31 AM PST

Electronic Manufacturing Services provider Plexus Corp. (PLXS) is scheduled to report its first quarter 2012 results on January 18, 2012, after the market closes. In the run-up to the earnings report, we witness no major variations in the consensus estimates.
We note that on an average, Plexus has posted an earnings surprise of 4.61% in the trailing four quarters, implying that it has outdone the Zacks Consensus Estimate by the same magnitude over the period.
We do not expect a major change in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Parkway Restructures Portfolio

Posted: 17 Jan 2012 09:31 AM PST

In a bid to restructure its existing portfolio, Parkway Properties, Inc. (PKY) recently announced that it has acquired a property in Tampa namely The Pointe. Additionally, Parkway also completed the sale of 111 East Wacker Drive in Chicago and Falls Pointe in Atlanta. Parkway closed all the transaction on behalf of Parkway Properties Office Fund II, L.P.
The Pointe is a 252,000 square foot office building located within the Westshore submarket of Tampa, Florida, which includes a strong tenant … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lamar Upgraded To Outperform

Posted: 17 Jan 2012 09:31 AM PST

We recently upgraded our recommendation on Lamar Advertising Company (NASDAQ:LAMR) from Neutral to an Outperform rating.
Lamar is a Louisiana-based leading owner and operator of outdoor advertising structures in the U.S. The company has developed its localized billboard advertising businesses through a combination of organic growth and strategic acquisitions. Moreover, its internal and external investment activities have allowed it to capture a considerable share of localized outdoor advertising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crocs Set To Hit Billion In 2011

Posted: 17 Jan 2012 09:31 AM PST

Shoe manufacturer Crocs Inc (NASDAQ:CROX) recently announced that it expects to achieve the higher end of its revenue guidance of $200 million to $205 million for the fourth quarter of 2011, based on the solid performance of retail business. Thus, the Niwot, Colorado-based company expects to post revenues of more than $1 billion for fiscal 2011, as against revenues of $790 million in 2010.
We believe that it is a remarkable achievement for the company to garner revenues of $1 billion in less than a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ADP Reaches India

Posted: 17 Jan 2012 09:31 AM PST

Automatic Data Processing Inc. (NYSE:ADP) recently marked its entry into the lucrative Indian market with the acquisition of Ma Foi Consulting Solutions Ltd, an Indian human resource and payroll management company. The acquired company was previously a part of Ma Foi Randstad, an Indian subsidiary of RANDSTAND HOLDINGS. Though the financial details of the deal were not disclosed, ADP stated that it will incorporate Ma Foi's 200 associates.
ADP will now manage Ma Foi's extensive Indian … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Cubist Pharma

Posted: 17 Jan 2012 09:31 AM PST

Cubist Pharmaceuticals Inc. (NASDAQ:CBST) is all set to unveil its fourth quarter and full year 2011 results on January 19, 2012. The Zacks Consensus Estimate for the fourth quarter is 29 cents, representing a year-over-year decrease of 33.14%. The Zacks Consensus Estimate for 2011 is 74 cents, down 57.23%.
Third quarter 2011 recap
Cubist Pharma's third quarter 2011 earnings (excluding special items but including stock-based compensation expense) of 76 cents per share raced past the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Life Technologies Forms JV In China

Posted: 17 Jan 2012 09:31 AM PST

Consistent with its strategy of further expanding in the emerging markets, Life Technologies Corporation (LIFE), a global biotechnology tools company, recently entered into an agreement with a Chinese molecular in-vitro diagnostics (IVD) company, DaAn Gene. The companies intend to form a joint venture named Life Technologies DaAn Diagnostics with headquarters in Guangzhou, China.
The Deal
The new joint venture will develop and market a range of molecular diagnostic tests based on Life … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Co-marketing Agreement May Boost PBIO’s Sales Immediately

Posted: 17 Jan 2012 09:31 AM PST

New Co-marketing Agreement May Boost PBIO’s Sales Immediately  
Grant Zeng, CFA

On January 11, Pressure BioSciences, Inc. (PBIO) and Digilab, Inc. announced that they have entered into a co-marketing/selling and research and development agreement. The companies intend to co-market and sell their respective product lines worldwide, including in industry publications, at scientific meetings, on each company’s website, through common collaborator studies, at key industry trade shows, and in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Unisys Receives CSU Contract

Posted: 17 Jan 2012 09:31 AM PST

Unisys Corporation (NYSE:UIS) recently announced that its present contract with California State University (CSU) has of late been extended to provide cloud-based IT solution services.
California State University (CSU) happens to be the largest public university in the United States, besides having a long -term relationship with Unisys as a client.
According to the contract, a disaster recovery system shall be installed by Unisys at the university's Eagan service center at Minnesota in order … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wal-Mart’s ECommerce Names Its CEO

Posted: 17 Jan 2012 09:31 AM PST

In order to strengthen its online presence, the retail giant Wal-Mart Stores Inc. (NYSE:WMT) has named Neil Ashe as the President and Chief Executive Officer (CEO) of its global eCommerce business, effective immediately.
Ashe will replace the retiring Eduardo Castro-Wright, who will assist the new CEO in the transition process.
Until recently, Ashe served as the president of CBS Interactive, where he was responsible for handling all online properties and the development of innovative ways to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BorgWarner Expects Higher Profits

Posted: 17 Jan 2012 09:31 AM PST

BorgWarner Inc. (NYSE:BWA) anticipates earnings growth of 23% to 27% to reach $5.35 to $5.65 per share in 2012 compared with 2011 earnings guidance of $4.35 to $4.45 per share, driven by a strong backlog of net new business.
The company predicted that the net new business,  driven by strong demand for its product technologies (including gasoline and diesel turbochargers, dual-clutch transmission, engine timing systems and emissions products), will push sales to the tune of 10% to 12% in 2012 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Milestone For Stereotaxis’ Niobe ES

Posted: 17 Jan 2012 09:30 AM PST

Medical equipment maker Stereotaxis Inc. (NASDAQ:STXS) reported encouraging results from its recently completed first 50 clinical procedures performed using its new Niobe ES system for treating patients with complex cardiac arrhythmias (a disorder of the heart rhythm). The majority of these procedures were performed to treat atrial fibrillation, the most prevalent form of cardiac arrhythmia.
Results from these procedures, performed in Europe, showed that average time for completion of mapping and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Initiating Coverage Of FluoroPharma Medical

Posted: 17 Jan 2012 09:30 AM PST

Initiating Coverage of FluoroPharma Medical

Brian Marckx, CFA

We are initiating coverage of FluoroPharma Medical, Inc. (FPMI) with an Outperform rating and $2.00 price target.  See below for free access to our 18-page report on the company which details FPMI’s novel radiopharmaceutical candidates, target markets, and competition and includes our outlook for the company, valuation methodology, risk factors and financial model.      

FluoroPharma Medical, Inc. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PRAA Buys Mackenzie Hall Holdings

Posted: 17 Jan 2012 09:30 AM PST

On Monday, Portfolio Recovery Associates Inc. (NASDAQ:PRAA) announced the acquisition of Mackenzie Hall Holdings Ltd., a Scotland-based debt purchase and collection company. Portfolio Recovery paid approximately £33.5 million ($51.0 million) for the purchase of 100% ownership stake in Mackenzie Hall. Additionally, the company made long-term agreements to hire Mackenzie Hall's management team, including the CEO.
Portfolio Recovery earns over 80% of its revenues from the recovery of receivables. As … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China Switching To Expansionary Policies?

Posted: 17 Jan 2012 09:23 AM PST

Tuesday, January 17, 2012
Copper futures have seen support from both strong electronic sales and the expectation that China will begin easing interest rates. European concerns are slowly losing their place in the forefront of traders’ minds and inflation is once again a hot topic of discussion due to the sheer volume of cash thrown at economic problems. Turning to the chart, we see the March Copper contract breaking out of a wedge formation to the upside, suggesting that an upside breakout has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Continues To Take It On The Chin

Posted: 17 Jan 2012 09:22 AM PST

The EURUSD has fallen below the 50% of the days range and the 100 hour MA at the 1.2727. The level was also the 200 bar MA on the 5 minute chart which increases the importance of the level. I would expect traders to use the level as resistance now. 1.2708 is 61.8% of the days range and below that the 1.2687 will be the next target. This was the high from the non trending day … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURJPY Falls From Upside Trendline Resistance

Posted: 17 Jan 2012 09:22 AM PST

The EURJPY extended to the topside trendline (see point 4 in chart above) and has pushed back toward the flatenning 100 hour MA. The price decline has stalled at the level as traders figure out the next move. I get the feeling the market may look to consolidate for a while at the 100 hour level and midpoint of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Playing The Range

Posted: 17 Jan 2012 09:22 AM PST

The GBPUSD found the support at the 100 hour MA and 38.2% retracement as outlined in the previous point.  Earlier the 200 hour MA and 61.8% retracement level held resistance.  In between is the 50% retracement level gets in the way at the 1.5365. The price off the low, peaked at this level and is now looking more weak than strong.
On the daily chart, the price has been largely contained in a narrow range over the last 5 or so days. This came after a pretty decent move lower last week … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Canada Maintains Interest Rate At 1.00%

Posted: 17 Jan 2012 09:03 AM PST

The Bank of Canada held its target for the overnight rate at 1.00%.  The Bank noted on the Canadian economy: “While the economy had more momentum than anticipated in the second half of 2011, the pace of growth going forward is expected to be more modest than previously envisaged, largely due to the external environment. Prolonged uncertainty about the global economic and financial environment is likely to dampen the rate of growth of business investment, albeit to a still-solid … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

2012 Speaking Tour!

Posted: 17 Jan 2012 08:55 AM PST

I'll be speaking at three cities in the next few months, and I wanted to give you heads up!
If you are in the area, please stop by and listen to my presentations and rub shoulders with other traders. I'll be doing a variety of presentations, so check the websites below for more details as they become available.
Schedule
Austin Association of Financial Traders (AAFT): Austin – Tuesday, Jan 17, 6:30 – 8:30pm
Denver Trading Group (DTG): Denver – Saturday, Feb 4, 9:00am – … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quote Of The Day On Disparities In Achievements

Posted: 17 Jan 2012 08:17 AM PST

“Gross inequalities in skills and achievements have been the rule, not the exception, on every inhabited continent and for centuries on end. Yet our laws and government policies act as if any significant statistical difference between racial or ethnic groups in employment or income can only be a result of their being treated differently by others.

Nor is this simply an opinion. Businesses have been sued by the government when the representation of different groups among their employees differs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Posts Triple-digit Gain

Posted: 17 Jan 2012 08:10 AM PST

01/17/12 The major stock averages tracked global equity markets higher. Global sentiment was boosted by the latest economic data from China and Germany. Financial earnings came in mixed, with Citigroup disappointing with its latest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Roll-Your-Own Cigarettes

Posted: 17 Jan 2012 07:58 AM PST

“A South Carolina store owner said smokers can get cigarettes without paying state and federal taxes because of a tax loophole. M.J. Farah, owner of Jake’s One Stop in Pelzer, South Carolina is offering customers the chance to roll their own cigarettes.

“The customers are taking advantage of a tax cut. They don’t have to pay the taxes on the tobacco if they are making it on their own,” said Farah. “I have people who drive all the way up here 45 minutes just to come get their tobacco.”

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

Forex – Dollar Pares Losses As Euro Zone Worries Resurface

Posted: 17 Jan 2012 07:56 AM PST

Forexpros – The U.S. dollar pared losses against its major counterparts on Tuesday, as market sentiment was hit by renewed concerns over the debt crisis in the euro zone, despite strong data from the euro zone, the U.S. and China earlier in the day.

During U.S. morning trade, the dollar was lower against the euro, with EUR/USD rising 0.55% to hit 1.2736, down from a session high of 1.2807.

The euro jumped more than 1% against the greenback earlier, after the ZEW Centre said that its index … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Hits Fresh 28-month Low, Tumbles 18% In 6 Days

Posted: 17 Jan 2012 07:50 AM PST

Forexpros – Natural gas prices plunged to a fresh 28-month low for the sixth consecutive day on Tuesday, as forecasts for warmer-than-normal winter weather in the U.S. and concerns over high inventory levels continued to weigh on the heating fuel.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD2.483 per million British thermal units during U.S. morning trade, plummeting 7%.

It earlier plunged by as much as 7.35% to trade at USD2.474 per million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Pares Gains Amid Sustained E.Z. Concerns

Posted: 17 Jan 2012 07:40 AM PST

Forexpros – The pound pared gains against the U.S. dollar on Tuesday, pulling back from a two-day high as concerns over the debt crisis persisted despite a flurry of upbeat data from the U.S., the euro zone and China.

GBP/USD pulled back from 1.5405, the pair's highest since January 13 to hit 1.5353 during U.S. morning trade, still up 0.17%.

Cable was likely to find support at 1.5276, Monday's low and resistance at 1.5409, the high of January 13.

In the U.S., data showed that an index … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gallup’s Jobless Rate Falls To 8.3% In Mid-January

Posted: 17 Jan 2012 07:38 AM PST

PRINCETON, NJ — “U.S. unemployment, as measured by Gallup without seasonal adjustment, is 8.3% in mid-January — a slight improvement from 8.5% in December, and down from 9.9% in January a year ago. Gallup’s mid-month unemployment reading, based on telephone interviews of a random sample of 18,500 adults in the 30 days ending Jan. 15, serves as a preliminary estimate of the U.S. government report, and suggests the BLS will likely report on the first Friday of February that its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Trade Above USD1,660 With Greece In Focus

Posted: 17 Jan 2012 07:26 AM PST

Forexpros – Gold futures were up for a second day on Tuesday, trading at the highest level since mid-December as weakness in the U.S. dollar and concerns over a possible Greek debt default boosted the appeal of the yellow metal.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,661.15 a troy ounce during U.S. morning trade, surging 1.85%.

It earlier rose by as much as 2.05% to trade at USD1,667.95 a troy ounce, the highest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Trims Gains As Debt Crisis Worries Weigh

Posted: 17 Jan 2012 07:23 AM PST

Forexpros – The euro trimmed gains against the U.S. dollar on Tuesday, as concerns over the financial crisis in the euro zone weighed on investor sentiment, despite a flurry of better-than-expected economic data earlier in the day.

EUR/USD pulled away from 1.2807, the pair's highest since Friday, to hit 1.2723 during U.S. morning trade, still up 0.45% on the day.

The pair was likely to find support at 1.2625, Monday's low and a 16-month trough and resistance at 1.2844, last Thursday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Top 20 Predictions For Life 100 Years From Now

Posted: 17 Jan 2012 07:13 AM PST

From the BBC, the top 20 predictions for life in 2112 include:

1) Oceans will be extensively farmed for fish, energy, algae, and natural resources, 2) Telepathic communication will become common, 3) Immortality, 4) Ability to control the weather, and 5) Only three languages (English, Spanish and Mandarin). … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Higher On Market Optimism; Dow Jones Up 0.87%

Posted: 17 Jan 2012 07:03 AM PST

Forexpros – U.S. stocks were sharply higher on Tuesday, as market sentiment was boosted by a flurry of positive economic data from the U.S, the euro zone and China.

During early U.S. trade, the Dow Jones Industrial Average rose 0.87%, the S&P 500 index advanced 0.76%, while the Nasdaq Composite index climbed 0.95%.

A report showed earlier that the New York Federal Reserve's index of manufacturing conditions improved more-than-expected in January, climbing to the highest level since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Rises Overnight On Data And Averted Strike

Posted: 17 Jan 2012 02:00 AM PST

01/17/12 Front month crude prices soared overnight and touched $101 a barrel following an averted Nigerian strike and strong Chinese and German … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Tops USD100 On Mideast Supply Concerns, Chinese Data

Posted: 17 Jan 2012 06:56 AM PST

Forexpros – Crude oil futures traded above USD100-a-barrel on Tuesday, as oil traders continued to monitor simmering tensions between Iran and the West, while upbeat economic data from Germany, the U.S. and China eased worries over the global economic outlook.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at USD100.70 a barrel during U.S. morning trade, surging 1.84%.

It earlier rose by as much as 2.2% to trade at USD101.19 a barrel, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Pares Losses After BoC Keeps Rate Unchanged

Posted: 17 Jan 2012 06:44 AM PST

Forexpros – The U.S. dollar trimmed losses against its Canadian counterpart on Tuesday, after the Bank of Canada said the outlook for the global economy had "deteriorated" after it left its benchmark interest rate unchanged at 1% earlier.

USD/CAD pulled back from 1.0112, the pair's lowest since January 4, to hit 1.0145 during early U.S. trade, still down 0.32% on the day.

The pair was likely to find support at 1.0102, the low of January 4 and resistance at 1.0187, the day's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New York State Manufacturing Expands In January; The Six-Month Outlook Is Highly Optimistic

Posted: 17 Jan 2012 06:38 AM PST

The Empire State Manufacturing Survey indicates that manufacturing activity expanded in New York State in January. The general business conditions index climbed 5.3 points to 13.5, and the 5 point gain in January follows strong increases of 8 points in November and 7.4 points in December (see brown line in chart).

According to the NY Fed, “The new orders index rose eight points to 13.7 and the shipments index inched up to 21.7. The prices paid index was positive and slightly higher than it … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodity Currencies On Top Amid Strong Data Across Globe

Posted: 17 Jan 2012 06:32 AM PST

Fundamental Headlines
• Euro Climbs as Spain Borrowing Costs Drop – Bloomberg
• France Seeks Faster Start to Iran Embargo – Bloomberg
• Obama Jobs Panel Pushes Tax Reform, U.S. Drilling – Reuters
• China's Growth Engine Declines – WSJ
• ECB Seeks Plan B – WSJ
European Session Summary
In the first full trading day of the week, market participants have been loading up on risky assets in the face of better than expected global growth data. The big news from the Asian and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Stocks Jump On Chinese & German Data

Posted: 17 Jan 2012 01:15 AM PST

01/17/12 The global markets were in rally mode Tuesday morning following the release of strong economic reports in China and Germany. Meanwhile, US stock futures were pointing higher to begin the abbreviated trading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Canada Leaves Interest Rate Unchanged At 1.00%

Posted: 17 Jan 2012 06:08 AM PST

Forexpros – The Bank of Canada left its benchmark interest rate unchanged for the eleventh consecutive month in January, as the outlook for the global economy has deteriorated and uncertainty has increased since the bank's previous rate announcement, it said on Tuesday.

In a statement, the central bank said it was leaving its overnight cash rate unchanged at 1.00%, in line with expectations.

According to the BoC, the sovereign debt crisis in Europe has intensified, conditions in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Rises To 2-day High On German ZEW Data

Posted: 17 Jan 2012 05:53 AM PST

Forexpros – The euro rose to a two-day high against the yen on Tuesday, after data showing that the ZEW index of German business sentiment recorded its largest ever monthly increase in January supported the single currency.

EUR/JPY hit 98.32 during European afternoon trade, the pair's highest since January 13; the pair subsequently consolidated at 97.95, jumping 0.71%.

The pair was likely to find support at 97.02, the low of January 16 and an 11-year low and resistance at 99.34, the high … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

What The Next Decade Holds For Commodities

Posted: 16 Jan 2012 10:00 PM PST

What a decade! A rapidly urbanizing global population driven by tremendous growth in emerging markets has sent commodities on quite a run over the past 10 years. If you annualize the returns since 2002, you find that all 14 commodities are in positive territory.
A precious metal was the best performer but it's probably not the one you were thinking of. With an impressive 20 percent annualized return, silver is king of the commodity space over the past decade with gold (19 percent annualized) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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