Wednesday, January 18, 2012

DailyMarkets.com - Pfizer-Medivation Call It Quits

DailyMarkets.com - Pfizer-Medivation Call It Quits

Pfizer-Medivation Call It Quits

Posted: 18 Jan 2012 10:25 AM PST

Medivation, Inc. (NASDAQ:MDVN) and Pfizer Inc. (NYSE:PFE) are finally giving up on their efforts to develop Alzheimer's candidate, dimebon (latrepirdine), with the companies reporting disappointing results yet again on the candidate. This time, dimebon failed to achieve the co-primary endpoints in a phase III study, CONCERT, which was conducted in patients with mild-to-moderate Alzheimer's disease.
Medivation and Pfizer said that dimebon failed to achieve statistical significance for either of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Arrow Signs Distribution Agreement

Posted: 18 Jan 2012 10:25 AM PST

Arrow Electronics, Inc. (ARW) recently signed a distribution agreement with KORE Telematics.
According to the agreement, Arrow would now offer its Machine-to-Machine (M2M) customers KORE's advanced data services, cellular management and satellite network services. These new improvisations shall provide technologically advanced services for the various connected devices used by consumers today.
KORE Telematics is a global leader with an offering of M2M solutions comprising GSM, CDMA and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Reaches Target Key Resistance

Posted: 18 Jan 2012 10:18 AM PST

The target resistance at the 1.2857 and 1.2866 area is being tested. The 1.2857 was the low from 2011 and the 1.2866 is trendline resistance.  As mentioned earlier the level should attract profit taking sellers.  A break however, opens the door for further gains to the upside.   The EURUSD has been on a downward track since October. If shorts have a reason to buy (and a break of this resistance as good a reason for a while) there should be some follow through buying.
A move … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fastenal Meets Estimates

Posted: 18 Jan 2012 10:15 AM PST

Fastenal Co. (NASDAQ:FAST) posted a 34.2% increase in profit to $87.5 million in the fourth quarter of 2011 from $65.2 million in the same quarter of 2010. On earnings per share basis, profit improved 36.4% to 30 cents from 22 cents a year ago, exactly meeting the Zacks Consensus Estimate.
For full year 2011, profits improved 34.9% to $357.9 million from $265.4 million in 2010 and 34.4% to $1.21 per share from 90 cents per share in 2010. The profits were exactly in line with the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sinking Cruise To Dent Carnival ’12

Posted: 18 Jan 2012 10:15 AM PST

Carnival Corporation's (NYSE:CCL) cruise ship Costa Concordia, carrying more than 4,000 passengers recently ran aground at Italy's west coast, jeopardizing the lives of passengers onboard and the company's reputation. Carnival estimates the disaster, which reportedly caused 11 deaths and left more than 20 missing so far, to hurt full fiscal 2012 earnings by around $85–$95 million or 11–12 cents per share.
The company also apprehends several other costs that are not in at this time. Prior … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Northern Trust Misses Estimates

Posted: 18 Jan 2012 10:05 AM PST

Northern Trust Corporation's (NASDAQ:NTRS) fourth-quarter 2011 earnings of 67 cents per share missed the Zacks Consensus Estimate by a penny. In the quarter, earnings were impacted by restructuring, acquisition and integration related expenses, though partially offset by benefit from the reduction of an indemnification liability related to Visa Inc. (NYSE:V).
The related pre-tax expense summed up to $61.0 million ($39.8 million after tax, or 17 cents per share), while the benefit was $13.0 million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

State Street Misses By A Penny

Posted: 18 Jan 2012 09:56 AM PST

State Street Corporation (NYSE:STT) reported fourth quarter 2011 operating earnings per share of 93 cents, a penny below the Zacks Consensus Estimate. However, this compares favorably with the prior-year quarter earnings of 87 cents.
On a GAAP basis, earnings for the quarter came in at 76 cents per share compared with earnings of $1.10 in the prior quarter and only 16 cents in the year-ago quarter.
Operating results for the quarter were aided by strong net interest revenue and lower expenses. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CPWR’s Preliminary 3Q Results

Posted: 18 Jan 2012 09:56 AM PST

Compuware Corporation (CPWR) has recently provided a peek at its December 2011 quarter financial results.
Segmental growth seemed quite a mixed bag for the December quarter.
APM revenues went through a convalescing period, thereby increasing 16% year over year and 15% quarterly. SAAS revenues, Covisint revenues and Changepoint revenues were quite encouraging, growing by 9%, 29% and 32% year over year, respectively. License fees also recorded a growth of 16% year over year.
On the other hand, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Bancorp Tops Estimate, Revs Up

Posted: 18 Jan 2012 09:40 AM PST

U.S.Bancorp (NYSE:USB) reported fourth-quarter 2011 earnings of 69 cents per share. Excluding the gain from a litigation settlement and expense accrual related to mortgage servicing matters, the company reported earnings of 64 cents per share.
This surpassed the Zacks Consensus Estimate of 63 cents per share. The company had earned 64 cents reported in the prior quarter and 49 cents in the year-ago quarter.
For full year 2011, U.S. Bancorp reported earnings per share of $2.46, up from $1.73 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PartnerRe Assesses 4Q CAT Loss

Posted: 18 Jan 2012 09:40 AM PST

Yesterday, property-casualty and life reinsurer – PartnerRe Ltd. (NYSE:PRE) – projected about $120 million in pre-tax catastrophe (CAT) losses from the Thailand floods, which occurred in October and November last year. This will be recorded in the fourth quarter results of 2011.
The total insured industry loss from Thailand floods is estimated to be over $15 billion. Besides, the company's estimated loss came in line with management's prior expectation of incurring CAT loss related to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AIG’s AIA To Bid For ING Asia

Posted: 18 Jan 2012 09:25 AM PST

Yesterday, Reuters reported that American Group International Inc.'s (NYSE:AIG) Asian wing – AIA Group Ltd. is mulling to bid for the Dutch bancassurer ING Group NV's (NYSE:ING) Asian operations worth $6 billion. The attempt is projected to strengthen its market position in the region.
ING has been facing tough times amid the ongoing sovereign debt crisis in Europe. Consequently, in order to receive the state bailout fund, the Dutch company has to divest its Asian insurance operations by the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Bouncing Off The 100 Bar MA

Posted: 18 Jan 2012 09:21 AM PST

The EURUSD has found the pattern of finding buyers against the 100 bar MA on the 5 minute chart.  It also has respected the high peaks near the 1.2840-46 level.  As mentioned in an earlier post, the channel trendline on the daily chart comes in at the 1.2866. The low price for 2011 comes in at 1.2857.  The high at 1.2845-46 was close enough for anxious profit takers today.
Going forward, trader should continue to use the rising 100 bar MA as bullish/bearish intraday bias. A move … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Goldman Returns To Profit

Posted: 18 Jan 2012 09:15 AM PST

The Goldman Sachs Group Inc. (NYSE:GS) reported fourth-quarter 2011 earnings per share of $1.84, significantly surpassing the Zacks Consensus Estimate of $1.46 per share. Moreover, earnings compared favorably with the loss of 84 cents reported in the prior quarter.
In spite of global macro-economic concerns, the results improved sequentially, driven by increase in investment banking revenues. However, higher operating expenses were on the downside.
Net income applicable to common shareholders in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Discover, AmEx Delinquency Falls

Posted: 18 Jan 2012 09:15 AM PST

On Tuesday, card companies Discover Financial Services (NYSE:DFS) and American Express Company (NYSE:AXP) reported reduced delinquency rates for the month of December 2011.
Delinquency rate is the rate of delay in payments by 30 days or more. It is normally an indicator of future charge-offs.  Card companies usually write-off loans when they are in default for six months from the due date.
Discover recorded delinquency of 2.32% of balances, down 11 basis points (bps) sequentially and a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Charles Schwab Reports In Line

Posted: 18 Jan 2012 08:50 AM PST

Charles Schwab Corporation's (NASDAQ:SCHW) fourth quarter 2011 earnings came in at 13 cents per share, in line with the Zacks Consensus Estimate. This compares favorably with the year-ago quarter's earnings of 10 cents.
Net income for the reported quarter came in at $163 million, up 37% from $119 million in the prior-year quarter. The year-ago net income included charges relating to the Schwab YieldPlus Fund. Excluding this, the company earned $218 million in the fourth quarter of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Public In Neutral Lane

Posted: 18 Jan 2012 08:50 AM PST

American Public Education Inc. (NASDAQ:APEI) is well positioned in the online post secondary education industry, thanks to its focus on recruits serving the U.S. military as well as public service personnel. Moreover, the company's part-time programs are well suited to irregular and extended work schedules of these personnel, who travel and relocate frequently and have limited financial resources. This provides a significant upside potential for the company.
American Public has witnessed an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Something’s Gotta Give In The Intermarket Landscape

Posted: 18 Jan 2012 08:42 AM PST

If you use Intermarket or Cross-Market Analysis in your trading or investment decisions, you've probably noticed something very strange over the last few months.
Let's take a look at "What's Going Wrong" from a classic Intermarket perspective which leads us to "What's Gotta Give" in terms of a building reversal.
First, the closer perspective of five Cross-Market quick charts:

In terms of Cross-Market Analysis, it's best to group the broad markets into four components:  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Jon Corzine V Edith O’ Brien: Let’s Get Ready To Rumble

Posted: 18 Jan 2012 08:41 AM PST

Some of the largest financial debacles of our lifetime revolved around individuals who were able to effectively "arbitrage", that is knowingly manipulate, their back office operations.
I refer specifically to the financial follies surrounding Joe Jett and Kidder Peabody in the early 1990s, Nick Leeson and Barings in 1995, and Yasuo Hamanaka and Sumitomo in the copper scandal of the mid 1990s.
I would maintain that due to a shortage of quality collateral in our financial system that it is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Microsoft Corp.

Posted: 18 Jan 2012 08:40 AM PST

Microsoft Corp. (NASDAQ:MSFT) is scheduled to announce its second quarter fiscal 2012 results on January 19, 2012, and we notice downward movements in analyst estimates.
Prior-Quarter Synopsis
Microsoft reported an in-line first quarter, as the enterprise refresh largely offset consumer softness in the quarter. Revenue was flat sequentially and up 7.3% year over year, aided by the Entertainment & Devices segment, with the Windows segment also contributing. However, all the other segments were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Challenge Of Assembling A Watchlist

Posted: 18 Jan 2012 08:30 AM PST

Since the market looks like it's firming (my opinion and, yes, I'm aware that many believe the market is actually topping out and will soon be making its final leg down to new lows), now's a good time to begin … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UFPI Upgraded To Neutral

Posted: 18 Jan 2012 08:30 AM PST

We recently upgraded our recommendation for Michigan-based Universal Forest Products Inc.(UFPI) from Underperform to a Neutral rating.
Despite far reaching effects on businesses worldwide due to the recent global economic meltdown, Universal Forest is making constant efforts to align its cost with business activities. Of late, the company undertook stringent economic measures that are likely to save approximately $10 million annually for the company. Moreover, to combat the weak operating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Favorable Chinese GDP Reading Helps Support Crude Oil Prices

Posted: 18 Jan 2012 08:18 AM PST

Wednesday, January 18, 2012
Since the 2011 lows were made back in October, Crude Oil futures have made a series of higher highs and higher lows which is supportive of bullish leaning trades in Crude Oil futures. Until this trend changes, traders may wish to explore bullish trading strategies using Crude Oil futures options. One such strategy is selling out of the money puts. For example, looking at the daily chart for March Crude Oil, we see chart support points near 92.50, 90.00, and 85.00. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Boyfriend Rental In China

Posted: 18 Jan 2012 08:13 AM PST

FT.COM — “This is a tough time of year for Chinese spinsters. Chinese New Year is just around the corner and every single girl knows what her parents want most for the holidays: a betrothal. Girls of a certain age (say, 30) do not dare go home at all without one; and even women in their 20s feel serious pressure not to turn up for this Sunday's traditional new year's eve dinner without a marriage prospect in tow.

Now, thanks to Taobao (the Chinese version of Ebay) and the inventiveness of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Turns Higher On Data And Tech

Posted: 18 Jan 2012 08:08 AM PST

01/18/12 US markets digested the latest economic data, earnings reports and tech developments. The NAHB homebuilders sentiment index came in at the highest level since 2007. IMF plans to boost lending also supported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bayer/Onyx Announce Cancer Data

Posted: 18 Jan 2012 08:06 AM PST

Bayer HealthCare, a unit of Bayer (BAYRY) and partner Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) recently announced data from a pivotal phase III study (CORRECT: n=760) of  oncology candidate, regorafenib (BAY 73-4506). The study evaluated patients suffering from metastatic colorectal cancer (mCRC) whose disease had progressed even after treatments with the standard drugs for the disease.
The multicenter, randomized, double-blind, placebo-controlled study was conducted in North America, Europe, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Lower Vs. Rivals On Greece, IMF Optimism

Posted: 18 Jan 2012 07:56 AM PST

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Wednesday, as optimism over the outcome of talks aimed at averting a Greek default and reports that the International Monetary Fund is attempting to enlarge its lending capacity bolstered risk appetite.

During U.S. morning trade, the dollar was lower against the euro, with EUR/USD up 0.63% to hit 1.2814.

The euro was bolstered by reports that the International Monetary Fund wants to reach an agreement on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Steady Near 10-year Low, Inventory Data Eyed

Posted: 18 Jan 2012 07:52 AM PST

Forexpros – Natural gas prices steadied on Wednesday, trading close to a ten-year low as traders speculated whether the commodity's 18% plunge in the last six trading days was excessive ahead of Thursday's government report on U.S. gas supplies.

On the New York Mercantile Exchange, natural gas futures for February delivery traded at USD2.495 per million British thermal units during U.S. morning trade, edging 0.16% higher.

It earlier rose by as much as 1.5% to trade at a session high … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD At 1-week High As Greece Talks Eyed

Posted: 18 Jan 2012 07:33 AM PST

Forexpros – The pound was trading close to a one-week high against the U.S. dollar on Wednesday, tracking gains in the euro, but market sentiment remained shaky as investors eyed the outcome of key talks aimed at averting a Greek default.

GBP/USD hit 1.5436 during U.S. morning trade, the pair's highest since January 11; the pair subsequently consolidated at 1.5417, gaining 0.53%.

Cable was likely to find support at 1.5309, Tuesday's low and resistance at 1.5490, the high of January … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up As Greece Talks Awaited

Posted: 18 Jan 2012 07:24 AM PST

Forexpros – The euro remained higher against the U.S. dollar on Wednesday, trading close to a three-day high as market sentiment strengthened but the single currency remained vulnerable amid uncertainty over the outcome of talks aimed at restructuring Greece's debt.

EUR/USD hit 1.2845 during U.S. morning trade, the pair's highest since January 13; the pair subsequently consolidated at 1.2839, jumping 0.81%.

The pair was likely to find support at 1.2648, Tuesday's low and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Add To Losses As Euro Zone Debt Fears Linger

Posted: 18 Jan 2012 07:16 AM PST

Forexpros – Gold futures added to losses on Wednesday, easing further off the previous session's four-week high as concerns over the euro zone's sovereign debt crisis continued to weigh on market sentiment.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,645.25 a troy ounce during U.S. morning trade, dropping 0.63%.

It earlier fell by as much as 0.75% to trade at a session low USD1,643.25 a troy ounce. Prices rallied to a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IMF Reports Lift Oil Prices Above $102

Posted: 18 Jan 2012 02:00 AM PST

01/18/12 Front month crude prices were trading higher this morning, touching $102 a barrel at one point, as reports of the IMF considering boosting its lending operations sparked interest in higher-yielding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CAD Erases Losses Ahead Of BoC Report

Posted: 18 Jan 2012 06:58 AM PST

Forexpros – The Canadian dollar erased gains against its U.S. counterpart on Wednesday, as investors awaited a detailed monetary policy report form the Bank of Canada after the bank left its interest rate unchanged the previous day.

USD/CAD pulled away from 1.0118, the daily low to hit 1.0157 during U.S. morning trade, inching up 0.05%.

The pair was likely to find support at 1.0112, Tuesday's low and a two-week low and short-term resistance at 1.0187, Tuesday's high.

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

U.S. Stocks Open Mixed With Financials In Focus; Dow Dips 0.1%

Posted: 18 Jan 2012 06:57 AM PST

Forexpros – U.S. stock markets were mixed to modestly higher after the open on Wednesday, as concerns over the euro zone's sovereign debt crisis continued to weigh on sentiment, while financials were in focus following earnings from heavyweights Goldman Sachs and Bank of New York.

During early U.S. trade, the Dow Jones Industrial Average dipped 0.1%, the S&P 500 index added 0.1%, while the Nasdaq Composite index gained 0.35%.

Market sentiment weakened as initial optimism over a report … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Drift On Drop In IMF Enthusiasm

Posted: 18 Jan 2012 01:15 AM PST

01/18/12 Early enthusiasm on reports the IMF is considering boosting its lending operations paved the way for a session of mixed trade for global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Top 5 Momentum Indicators Every Trader Needs To Know

Posted: 18 Jan 2012 03:47 AM PST

Is the trend really your friend? It seem so ridiculous that just because a price is going up that it should continue to go up, but that’s precisely what has been observed in the price behaviour of stocks. Just as with jewellery, it seems that the more expensive stocks get, the more buyers start to crave them. The ‘momentum’ effect has been tested in many different ways by financiers, whether in theory by academics in finance journals or in practice by hedge funds, and has been found time and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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