Tuesday, January 3, 2012

DailyMarkets.com - MEMC Walks The Tightrope

DailyMarkets.com - MEMC Walks The Tightrope

MEMC Walks The Tightrope

Posted: 03 Jan 2012 11:50 AM PST

We are maintaining our Neutral recommendation on MEMC Electronic Materials Inc. (NYSE:WFR) with a target price of $4.25. MEMC witnessed weak segmental year-over-year growth in its third quarter, with a decline in its Solar Materials segment. Though a positive trend was noticed in its solar projects, a persistent decrease in polysilicon (raw material for solar chips) pricing and the overcapacity in the solar market remained overhangs.
MEMC is the leading producer of silicon wafers for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pepsi To Add Brazilian Cookies

Posted: 03 Jan 2012 11:40 AM PST

In a move to strengthen its foothold in Brazil, U.S. beverage major PepsiCo International (NYSE:PEP) plans to purchase local cookie maker Marilan Alimentos. The potential deal follows the acquisition of yet another Brazilian cookie company, Grupo Mabel in November, 2011.
According to the Valor Economico newspaper, Marilan Alimentos has asked for a price between 600 million reais ($320 million) to 800 million reais ($426.6 million). M. Dias Branco SA, Campbell Soup Co. (NYSE:CPB) and Bunge Ltd. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rockwell Automation Poised At Neutral

Posted: 03 Jan 2012 11:25 AM PST

We maintain our Neutral recommendation on Rockwell Automation Inc. (NYSE:ROK) given concerns regarding slow macroeconomic growth that overwhelms the company's positives – strong global market presence, relentless focus on expanding in emerging markets, strong cash flow and a healthy balance sheet. The company retains a Zacks #3 Rank, which implies a Hold recommendation for the short term. 
Rockwell Automation recently reported fiscal 2011 EPS of $4.80 versus $3.22 in fiscal 2010. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Reaches Topside Channel Trendline At 1.3077

Posted: 03 Jan 2012 11:18 AM PST

The EURUSD is testing the 1.3177 level which is the topside channel trendline in the pair today. The level also corresponds with topside wedge resistance.   Traders should use the level as a profit taking level as risk can be clearly defined.. A move above however, should not be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Avery Downgraded To Underperform

Posted: 03 Jan 2012 11:05 AM PST

We have recently downgraded our recommendation on Avery Dennison Corporation (NYSE:AVY) from Neutral to Underperform reflecting lower volume expectations for the remainder of 2011, a higher tax rate and weak results in two of its largest businesses. The shares of Avery Dennison are currently maintaining a Zacks #5 Rank (Strong Sell rating) over the short term that corresponds with our Underperform recommendation.
Avery Dennison reported a disappointing third quarter with its adjusted EPS of 48 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Verizon Caves In To User Ire

Posted: 03 Jan 2012 10:50 AM PST

Verizon Communications Inc. (NYSE:VZ) dropped its plan to institute fees on making one-time bill payments following strong criticism from customers.
The largest U.S. mobile service provider was compelled to take this move right after the day it introduced a fee known as "convenience fee" of $2 for making one-time payments over the phone or online using credit or debit cards. The effective date for the fee was January 15.
The company wants to encourage customers to take advantage of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Symmetry Completes Codman Takeover

Posted: 03 Jan 2012 10:35 AM PST

Symmetry Medical (NYSE:SMA), which supplies instruments to orthopedic device makers, reported that it has completed the prior reported takeover of the surgical instruments unit of Codman & Shurtleff, Inc. (Codman), a Johnson & Johnson (NYSE:JNJ) enterprise.
In the first quarter of 2012, Symmetry will absorb Codman's surgical instrument product line into its hospital direct setup, Specialty Surgical Instrumentation (“SSi”). The integrated direct general surgical instruments operation will be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Business Update

Posted: 03 Jan 2012 10:30 AM PST

Business Update – No Meaningful Surprises
Brian Marckx, CFA

Chembio Diagnostics’ (CEMI) business update this morning provided a development status of their pipeline as well as general revenue guidance for 2011 and 2012.  Positive take-aways are that we should see strong revenue growth for the full-year 2011 and for this to continue into 2012.  In addition, Chembio notes that they continue to be encouraged by the DPP HIV U.S. trial data – including for oral fluid – while the press … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Soars On Iranian Nuclear Worries

Posted: 03 Jan 2012 10:29 AM PST

Forexpros – Crude oil futures soared on Tuesday after reports that Iran produced its first nuclear fuel rod and a plunging U.S. dollar triggered the buying.

On the New York Mercantile Exchange, light sweet crude futures for January settlement traded at USD102.61 a barrel during mid U.S. trade soaring 2.92%.

It earlier hit a daily high of USD102.86 a barrel.

Weakness in the U.S. dollar added to the bullish crude price move. The dollar index, which tracks the performance of the greenback … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Are REITs A Safe Haven In 2012?

Posted: 03 Jan 2012 10:20 AM PST

With the curtains drawn on a highly volatile 2011, investors across the world hope that the new year would bring an improved equity market over the next twelve months. Not that we believe that 2012 will be devoid of any equity volatility, but we do believe that we have already seen the zenith in market volatility in the third quarter of 2011 and the next few quarters are likely to exhibit the trough period.
Given the positive note in investor sentiment, a number of factors still persist as a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Amphenol

Posted: 03 Jan 2012 10:20 AM PST

We continue to maintain our Neutral recommendation on Amphenol Corporation (NYSE:APH).
Amphenol is optimistic about the accelerating proliferation of new electronics in all its end markets, which the company expects will propel demand in the coming quarters. We remain impressed by Amphenol's operational execution, leading to solid improvement in margins when compared to peers such as Molex (NASDAQ:MOLX) and Tyco Electronics (NYSE:TEL), along with strong cash flow generation.
Although third quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Harmony Remains Neutral

Posted: 03 Jan 2012 10:10 AM PST

We maintain our Neutral recommendation on Randfontein, South Africa based Harmony Gold Mining Company Limited (NYSE:HMY). The company conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining.
Harmony recorded a net profit of 16 cents per share in the first quarter of 2012 versus last quarter's loss of 1 cent per share and year-ago quarters profit of 3 cents. Results were a penny ahead of the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Guilfoyle: “Will See Good Month, Quarter And Half-year”

Posted: 03 Jan 2012 10:10 AM PST

01/03/11 Meridian Equity Partners’ Stephen Guilfoyle talks equities, commodities and fundamentals. US equities rally on the first trading session of 2012 – but will it … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

First Trading Day Facts

Posted: 03 Jan 2012 10:05 AM PST

There's always much said about the relevance of the year's first trading day and what it might portend for the way the rest of the year ends up so I decided to do my own research based on the S&P 500 … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Higher On Risky Asset Embrace

Posted: 03 Jan 2012 10:01 AM PST

Forexpros – The euro climbed at the fastest pace in over a month, on Tuesday, against the U.S. dollar as bullish economic reports triggered investors to embrace riskier assets and leave the relative safety of the greenback.

EUR/USD hit a low of 1.2932 during U.S. trade. The pair is off a high of 1.3068 and is currently trading at 1.3050 up 0.90%.

The pair was likely to find short term support at 1.2977 and technical resistance exists at 1.3066.

A U.S. factory report expanded at the fastest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

T. Rowe Price Stays At Neutral

Posted: 03 Jan 2012 09:50 AM PST

We maintain our Neutral recommendation on T. Rowe Price Group Inc.(NASDAQ:TROW) based on the company's steady profit trend. Moreover, T. Rowe Price's third quarter earnings came in below the Zacks Consensus Estimate, but were significantly up from the prior-year quarter.
Although the global financial crisis has led to a decline in growth metrics, the company has been able to sustain positive earnings throughout the critical period. This positive   operating leverage was helped by … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PNC Financial Stays Neutral

Posted: 03 Jan 2012 09:35 AM PST

We have reiterated our Neutral recommendation on PNC Financial Services Group Inc. (NYSE:PNC) following a detailed analysis of the company fundamentals in perspective of the current economic and regulatory environment and its recent acquisitions.
PNC Financial's third-quarter 2011 adjusted earnings of $1.55 per share were ahead of the Zacks Consensus Estimate of $1.49. Results also compared favorably with adjusted earnings of $1.45 per share in the prior-year quarter. Reported net income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Stocks Surge On U.S. Manufacturing Numbers; DAX Up 1.50%

Posted: 03 Jan 2012 09:29 AM PST

Forexpros – European stocks surged higher on Tuesday as a U.S. manufacturing report expanded at the fastest pace in six months.

After the close of European trade, the EURO STOXX 50 climbed higher by 0.83%, France’s CAC 40 advanced 0.72%, while Germany’s DAX 30 jumped 1.50%. Meanwhile, in the U.K. the FTSE 100 surged 2.29%.

The Institute for Supply Management’s factory index climbed to 53.9 last month from 52.7 in November. This beat the average economists estimate. The dividing number … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cepheid To Present At A Conference

Posted: 03 Jan 2012 09:20 AM PST

Cepheid (NASDAQ:CPHD) has decided to present at the upcoming J.P. Morgan Healthcare Conference in San Francisco, California on Thursday, January 12, 2012.
Cepheid, headquartered in Sunnyvale, California is a molecular diagnostics company, which primarily develops, manufactures and markets fully integrated systems for genetic analysis in the Clinical market. Cepheid is focusing on those applications where rapid molecular testing is particularly important, such as identifying infectious disease and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ERJ Aircraft To Strengthen US Defense

Posted: 03 Jan 2012 09:11 AM PST

Contract wins, customer orders servicing and test roll-outs have, over time, turned out to be customary for Brazilian planemaker Embraer S.A (NYSE:ERJ). Adding one more to its order portfolio, Embraer recently announced sale of its A-29 Super Tucano aircraft to the U.S. Air Force. The Super Tucano, produced by Embraer Defense and Security for the Light Air Support (LAS) program, is anticipated to deliver a wide variety of munitions and operate in extremely rugged terrain and austere … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dollar Stumbles On Risk Appetite

Posted: 03 Jan 2012 09:00 AM PST

01/03/11 The dollar has declined to start the year as risk appetite has returned on improved manufacturing data and German employment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Generac Holdings, Inc.

Posted: 03 Jan 2012 08:55 AM PST

Generac Holdings, Inc. (GNRC) has been surging for the last three months, recently hitting a new all-time high after almost doubling since late September. With another strong quarter in hand and a bullish growth projection, this Zacks #1 Rank stock is an industrial take on momentum.
Company Description
Generac Holdings, Inc. designs, manufactures and sells backup power generation products for residential, light-commercial and industrial markets in the United States. The company was founded in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valero Poised At Neutral

Posted: 03 Jan 2012 08:55 AM PST

Texas-based Valero Energy Corporation (NYSE:VLO), the largest independent refiner and marketer of petroleum products in the U.S., has been reiterated at Neutral.
Among all the independent refiners, Valero offers the most diversified refinery base with a capacity of 3.0 million barrels per day in its 16 refineries located throughout the U.S., Canada and the Caribbean.
Valero's outstanding performance in the third quarter of 2011 can be traced back to favorable refining margins and highest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pelangio

Posted: 03 Jan 2012 08:55 AM PST

Pelangio – a review of 2011 and expectations for 2012
Steven Ralston, CFA

Pelangio Exploration (V.PX: TSX-V and PGXPF: OTC)  is a junior gold exploration company currently proceeding with a second phase drilling program of over 30,000 meters at the company's Manfo property in Ghana. Also, an exploratory diamond drill program of 7,000+ meters on its Obuasi property began in March 2011.

In 2011, over 25,000 meters of diamond drill holes were completed on the Manfo property. Drilling … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BP, Rosneft Fall Out Of Sakhalin 5

Posted: 03 Jan 2012 08:55 AM PST

BP Plc (NYSE:BP) has put to rest the speculations regarding its plan to exit a joint venture with Russian state-owned oil company OAO Rosneft, off the country's Far Eastern Coast. The U.K.-based energy producer confirmed that it will terminate its 13-year partnership with Rosneft to explore oil and gas in Sakhalin, partly blaming the rough economics of the project.
BP added that it is trying to settle its exit in the best possible manner without causing any further inconvenience to Rosneft. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polycom To Outperform

Posted: 03 Jan 2012 08:30 AM PST

We upgrade our recommendation on Polycom Inc. (NASDAQ:PLCM) to Outperform based on our view that management mostly resolved the poor execution problems of marketing and sales, which was the primary reason for the previous quarter's disappointing performance. Polycom's latest software-centric business model has significantly raised its overall market opportunity.
Despite facing competitive pressure from Cisco, Polycom's Network Infrastructure Systems businesses grew 33.7% in the previous … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Trade Below USD3.00 For Second Session

Posted: 03 Jan 2012 07:50 AM PST

Forexpros – Natural gas prices declined in the first trading session of 2012 on Tuesday, trading below USD3.00 per million British thermal units for the second consecutive session as lingering concerns over elevated inventory levels continue to dampen sentiment on the heating fuel.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD2.968 per million British thermal units during U.S. morning trade, slumping 0.15%.

It earlier fell by as much as 1.17% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Slides Lower After Upbeat ISM Report

Posted: 03 Jan 2012 07:48 AM PST

Forexpros – The U.S. dollar slid lower against its major counterparts on Tuesday, as demand for higher yielding assets remained supported after data showed that the U.S. manufacturing sector expanded at the quickest rate since June last month.

During U.S. morning trade, the dollar was lower against the euro, with EUR/USD surging 0.85% to hit 1.3044.

The Institute for Supply Management said its index of purchasing managers rose by 1.2 points to 53.9 in December from 52.7 in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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