Wednesday, January 18, 2012

DailyMarkets.com - Range Production Reaches New High

DailyMarkets.com - Range Production Reaches New High

Range Production Reaches New High

Posted: 18 Jan 2012 07:50 AM PST

In an interim update, independent oil and gas operator, Range Resources Corporation (NYSE:RRC) announced that it achieved record production in the fourth quarter of 2011. The production increased 16% on both a year-over-year as well as sequential basis to reach an average production volume of 625 million cubic feet of gas equivalent (Mmcfe) per day.
Production for full-year 2011 climbed 12% compared to 14% in 2010 and averaged 554 Mmcfe per day. Despite the sale of Barnett assets in April 2011, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sunoco & SunCoke Part Ways

Posted: 18 Jan 2012 07:40 AM PST

Philadelphia, Pennsylvania-based Sunoco Inc. (NYSE:SUN) announced that it has completed the segregation of SunCoke Energy Inc (SXC), following the distribution of the remaining shares owned by the former. The announcement of the separation was first made in June 2010 and filed the initial public offering for shares of SunCoke with the Securities and Exchange Commission in March 2011.
Sunoco distributed 56,660,000 shares of SunCoke to its shareholders, on a pro rata dividend basis of its equity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ADTRAN Delivers Mixed Results

Posted: 18 Jan 2012 07:25 AM PST

ADTRAN Inc.'s (ADTN) fourth quarter 2011 adjusted earnings of 50 cents per share were well ahead of the Zacks Consensus Estimate of 46 cents but plunged 14.2% from the year-ago earnings of 56 cents. Adjusted earnings for the full-year 2011 grew 18.6% to $2.16 from $1.82 a year ago.
Adjusted earnings for the fourth quarter and fiscal 2011 exclude a negative impact of 2 cents and 4 cents, respectively; pertaining to acquisition related expenses.
Net income decreased 13.3% to $31.2 million from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Between The 100 And 200 Hour MA. Still Looking For The Break.

Posted: 18 Jan 2012 07:18 AM PST

Forex Trading: EURCHF Moves Sharply Higher But Comes Off

Posted: 18 Jan 2012 07:18 AM PST

The talk is that it may have been a bad rate entered at 1.2150 in the interbank that forced the market sharply higher. .  This caused the spike and got the markets attention. The price is back down testing the 1.2100 level as the details come … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WPPGY: Kantar To Acquire CIC

Posted: 18 Jan 2012 07:15 AM PST

 
Advertising titan, WPP plc (NASDAQ:WPPGY) recently agreed to acquire CIC, a social media research and consulting agency in China. The acquisition will be given effect through the company's wholly-owned operating company, Kantar Media. Completion of the transaction is subject to regulatory approvals.
CIC was founded in 2004 and employs over 120 people. The company generated roughly RMB29.9 million in revenues for the year ended 31 December 2011. Gross assets for the same period were RMB 22.4 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: American Express

Posted: 18 Jan 2012 06:55 AM PST

Electronic payment processor in the US, American Express Co. (NYSE:AXP) (AmEx) is scheduled to release its fourth-quarter 2011 results after the market closes on January 19, 2012. The Zacks Consensus Estimate for the fourth quarter is 98 cents per share, representing about 4% growth over the year-ago quarter.
Following the trends of the first three quarters of 2011, AmEx improved credit quality with an increased usage of cards, lesser defaults, higher spending and growth in loan portfolio, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Trims Gains After Weak U.S. Data, EU Debt Woes In Focus

Posted: 18 Jan 2012 06:40 AM PST

Forexpros – Crude oil futures trimmed gains on Wednesday, easing off a four-day high following the release of a flurry of downbeat U.S. economic data and as concerns over the euro zone's sovereign debt crisis continued to weigh on sentiment.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at USD101.03 a barrel during early U.S. morning trade, easing up 0.2%.

It earlier rose by as much as 1.1% to trade at USD102.23 a barrel, the highest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Season Hits Full Throttle

Posted: 18 Jan 2012 06:35 AM PST

Germany paid the lowest interest rate in its history in a  two-year bond auction this morning, even as the country lowered its economic growth outlook for 2012. The World Bank also came out with a lowered growth outlook for the global economy this year, but there is hardly anything newsy there as the markets have been sizing up these growth questions for awhile now.
On the domestic economic front, we have the PPI and Industrial Production reports on deck, but the focus today will be on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: IBM

Posted: 18 Jan 2012 06:35 AM PST

International Business Machines Corp. (IBM) is all set to report its fourth quarter and full year 2011 results on January 19, 2012, after the market closes. We expect IBM to report modest results due to sluggish IT spending partially offset by robust growth from its key growth initiatives.
We note that IBM has posted an average earnings surprise of 1.86% in the trailing four quarters, implying that it has outdone the Zacks Consensus Estimate by the same magnitude for the last four quarters. We … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Rallies On IMF Funding Rumor, Greek PSI Developments

Posted: 18 Jan 2012 06:28 AM PST

Fundamental Headlines
• Fed Officials Open to Additional Easing as They Monitor Risks to Economy – Bloomberg
• Germany Cuts 2012 Economic Growth Forecast – Bloomberg
• IMF Looks to Raise $600 Billion in New Resources – Reuters
• Romney Says He is taxed at around 15 Percent Rate – Reuters
• Germany Sells Debt at Historic Lows – WSJ
European Session Summary
Overnight trading conditions were remarkably quiet after Tuesday's session which was the first full day of trading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pepsi Gets Juicier With Ocean Spray

Posted: 18 Jan 2012 06:26 AM PST

Recently, PepsiCo International (PEP), the world's leading beverage maker, has decided to manufacture and distribute a portfolio of cranberry and blueberry-based beverages through its Latin America drinks division in collaboration with Massachusetts based Ocean Spray Cranberries.
PepsiCo has formed a strategic alliance with the agricultural cooperative for cranberries and grapefruit growers, known as Ocean Spray, wherein the two companies will share marketing responsibilities for the juice … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: ArQule, Blackbaud, ISTA Pharmaceuticals, Venoco, Valeant Pharmaceuticals International

Posted: 18 Jan 2012 06:26 AM PST

    Bio technology company ArQule Inc.'s (NASDAQ:ARQL) share prices gained 11.91% to close at $6.67 after the company’s experimental treatment for liver cancer reported a positive outcome in its Phase II trial

    Share prices of discount carrier Sprint Airlines Inc. (SAVE) declined 5.53% after the company announced plans to sell 11 million shares in a secondary offering

    Global provider of software Blackbaud Inc. (NASDAQ:BLKB) will buy fund raising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/JPY Hits 3-day High On IMF Optimism, Fitch Comments

Posted: 18 Jan 2012 06:26 AM PST

Forexpros – The euro rose to a three-day high against the yen on Wednesday, lifted by reports that the International Monetary Fund is looking at ways to increase its lending capacity and comments by Fitch's ratings agency.

EUR/JPY hit 98.63 European afternoon trade, the pair's highest since Friday; the pair subsequently consolidated at 98.52, gaining 0.69%.

The pair was likely to find support at 97.02, Monday's low and an 11-year low and resistance at 98.84, the high of January … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Toward Key Trendline Resistance

Posted: 18 Jan 2012 06:22 AM PST

The low for 2011 in the EURUSD came in at the 1.2857.  The trendline off the December high comes in at 1.2866. The market is moving toward the level as comments from Greece and such keep the shorts on edge.  A move toward the level, however, should solicit selling /profit taking on the first test.  On a break, however, there should be some stops triggered. Given the substantial trend lower since October, there is room to roam above if the shorts get scared and cover. So far, so … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Moves Above 200 Hour MA But Lots Of Resistance Above

Posted: 18 Jan 2012 06:22 AM PST

The GBPUSD has moved above the 200 hour MA at the 1.5381 level but has run into a lot of resistance at the 1.5398-1.5407 levels.  There has been a number of lows/highs at the area over the last few weeks of trading and is also where the 38.2% of the move down from the January 4th high comes in.  The first test was quickly rejected with the  price moving back toward the 200 hour MA level.   The market has a choice to make now. Move lower off the level and break below … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Takes Out High By A Pip And Falls From There

Posted: 18 Jan 2012 06:22 AM PST

It is never good to have a skittish market, take out an extreme by a pip or two and fail. That is what happened with the EURUSD and the price moved from 1.2845 to 1.2803 in around 15-20 minutes. Support comes in at 1.2801 which is the 38.2% of the move up today but in skittish markets – anything can happen. So be aware of the risk from volatility and less liquid … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Industrial Production Rises Less-than-expected

Posted: 18 Jan 2012 06:22 AM PST

Forexpros – Industrial production in the U.S. rose less-than-expected in December, while the previous month's figure was downwardly revised to show a bigger decline, official data showed on Wednesday.

In a report, the U.S. Federal Reserve said that industrial production rose by a seasonally adjusted 0.4% in December, falling short of expectations for a 0.5% gain.

Industrial production for November was revised down to a 0.3% decline from a previously reported 0.2% drop.

Year-over-year, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. TIC Long Term Purchases Surge In November

Posted: 18 Jan 2012 06:09 AM PST

Forexpros – U.S. Treasury International Capital rose significantly more-than-expected in November, official data showed on Wednesday.

In a report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities totaled USD59.8 billion in November, up sharply from purchases of USD8.3 billion in November, whose figure was revised from a previously reported USD4.8 billion.

Analysts had expected Treasury International Capital purchases to climb to USD27.3 billion in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

L.A. Port Sets Record In 2011 For Export Containers

Posted: 18 Jan 2012 06:08 AM PST

LA Times — “The Port of Los Angeles set a new standard for exports in 2011, becoming the first harbor in the nation to ship more than 2 million containers carrying U.S. goods to customers overseas, according to year-end statistics released by port officials.
The nation’s busiest seaport moved 176,531 export containers in December, enough to kick up its 2011 total to 2.11 million containers. That broke the port’s former record of 1.84 million export containers set in 2010.

No other U.S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Celgene Continues To Outperform

Posted: 18 Jan 2012 06:05 AM PST

We are maintaining our Outperform recommendation on Celgene Corporation (NASDAQ:CELG) following the impressive preliminary results disclosed by the company for the fourth quarter and full year 2011.
On January 9, 2012, Celgene announced encouraging preliminary unaudited adjusted (excluding stock-based compensation expense and other special items) earnings of $1.05 per share for the final quarter of 2011, up approximately 46%. Preliminary adjusted revenues in the final quarter of 2011 came in at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Parker-Hannifin

Posted: 18 Jan 2012 06:05 AM PST

Parker-Hannifin Corp. (NYSE:PH) is slated to release its second-quarter 2012 results on Friday, January 20, 2012. The current Zacks Consensus Estimate for second-quarter earnings per share (EPS) is $1.63, representing an annualized growth of 17.34%.  
Parker-Hannifin's earnings were above the Zacks Consensus Estimate in the last quarter while was below estimate in the fourth quarter of fiscal 2011. Moreover, in the second and third quarters, the company outperformed the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PivotBoss Report For 01/18/12

Posted: 18 Jan 2012 05:57 AM PST

Market Outlook The Russell 2000 Index ($RUT) tested the all-important fulcrum yesterday and was swiftly rejected. The market is clearly dipping its toe in the water and is now gearing up for the next key move in this index. These are the levels to watch. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disappointing 4Q For BNY Mellon

Posted: 18 Jan 2012 05:50 AM PST

The Bank of New York Mellon Corporation's (NYSE:BK) fourth-quarter 2011 earnings per share of 42 cents significantly missed the Zacks Consensus Estimate of 54 cents. This also compares unfavorably with earnings of 53 cents in the prior quarter and 54 cents recorded in the prior-year quarter.
Similarly, for fiscal 2011 BNY Mellon's earnings per share of $2.03 missed the Zacks Consensus Estimate of $2.19 and the prior year earnings of $2.05.
Although BNY Mellon's results benefited from higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Accuray CyberKnife Debuts In Mexico

Posted: 18 Jan 2012 05:50 AM PST

Leading radiosurgery systems maker Accuray Incorporated (NASDAQ:ARAY) said that a leading hospital in Mexico has commenced treating patients with its CyberKnife radiosurgery system, marking the first use of the popular therapy system in that country.
Monterrey-based Christus Muguerza Hospital Alta Especialidad has become the first medical center in Mexico to offer patients the benefits of the CyberKnife system.  The hospital, so far, has treated eight patients with malignant tumors or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Turns Lower After U.S. PPI Data

Posted: 18 Jan 2012 05:46 AM PST

Forexpros – The U.S. dollar extended losses against its major counterparts on Wednesday, following the release of U.S. data on producer price inflation.

During European afternoon trade, the dollar was lower against the euro, with EUR/USD jumping 0.81% to hit 1.2839.

The Bureau of Labor Statistics said that PPI declined by a seasonally adjusted 0.1% in December, confounding expectations for a 0.1% gain, bringing the annualized rate to 4.8%.

But core PPI, which excludes the volatile food and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Wedding Proposal Planners

Posted: 18 Jan 2012 05:40 AM PST

Daily Mail UK — “We’re all familiar with how wedding planners can navigate us around the tricky maze of getting married. But now a new industry has emerged, for helping men pop the question in the first place. Proposal planners have discovered a demand for lavish scenarios, be it white doves, helicopter rides, a favorite musician – all with a photographer on hand to record the magic moment.

Sarah Pease of New York-based Brilliant Event Planning says she only focused on weddings until she … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Core PPI Rises More-than-expected In December

Posted: 18 Jan 2012 05:38 AM PST

Forexpros – Core producer price inflation in the U.S. rose more-than-expected in December, official data showed on Wednesday.

In a report, the Bureau of Labor Statistics said that the core producer price index rose 0.3% in December, above expectations for a 0.1% increase. Core PPI rose by an unrevised 0.1% in November.

Core produces prices rose at an annualized rate of 3.0% in December, the fastest increase since June 2009. Analysts had expected core prices to increase at a rate of 2.8% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DOW’s Equity Investment In Nuvosun

Posted: 18 Jan 2012 05:35 AM PST

U.S Chemical giant, The Dow Chemical Company (NYSE:DOW) has made an equity investment of $10 million in Nuvosun, a start-up focused on copper indium gallium selenide (CIGS) solar cells.
NuvoSun is a second generation innovator of thin-film photovoltaic (PV) cells and modules based on flexible Copper Indium/Gallium di- Selenide (CIGS) technology. NuvoSun’s mission is to redefine the cost point for PV cells and modules and to become the lowest cost producer of these products by 2012.
Dow is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ES, GC + SI – Riding The TSI Teeter-Totter

Posted: 18 Jan 2012 05:35 AM PST

You can probably remember those good old days when you and your friends would head down to the local park and play on the teeter-totter. I sure do. And my memories of watching my children discover the joy of riding a teeter-totter, remembering their laughter and their screaming back and forth at one another is very precious to me as well.

The topping process in the stock market is much like the teeter-totter, it seems to me. Using the True Strength Index (TSI) indicator to observe the up and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Disney Plans More Concept Stores

Posted: 18 Jan 2012 05:20 AM PST

Recently, The Walt Disney Company's (NYSE:DIS) retail merchandising arm, Disney store, announced its plans to spread interactive concept stores in more locations in 2012, thus expanding its reach into new markets.
Disney Store is optimistic about its interactive store and plans to expand into 12 countries by the end of 2012 driven by the successful launch of the innovative design store in 2010, coupled with the huge demand from retail property owners. The company successfully achieved its 2011 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCAD Trading Between Support And Resistance

Posted: 18 Jan 2012 05:18 AM PST

The USDCAD is trading between support against a well established trendline and resistance against the 100 hour MA and 38.2% retracemetn of the move up from the July 2011 low. The support line comes in at the 1.0115 currently and resistance at 1.0178.  The bias is down being below the 100 day MA, but a break of the trendline is still needed to give the sellers additional satisfaction.
Later today (at 10:30) the BOC will release their quarterly Monetary Policy Report.  Yesterday, they … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up On IMF Speculation But Gains Limited

Posted: 18 Jan 2012 05:13 AM PST

Forexpros – The pound was higher against the U.S. dollar on Wednesday, as market sentiment was lifted after media reports that the International Monetary Fund is looking at ways to boost its lending resources.

GBP/USD hit 1.5388 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.5378, gaining 0.31%.

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

The pound tracked the euro higher, following … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Holds Gains But Upside Limited

Posted: 18 Jan 2012 04:54 AM PST

Forexpros – The euro held gains against the U.S. dollar on Wednesday, but further upside looked likely to remain limited as uncertainty over the debt crisis in the single currency bloc weighed.

EUR/USD hit 1.2845 during European early afternoon trade, the pair's highest since January 13; the pair subsequently consolidated at 1.2816, gaining 0.62%.

The pair was likely to find support at 1.2648, Tuesday's low and resistance at 1.2844, the high of January 12.

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

Coffee Futures Retreat On Oversupply Concerns

Posted: 18 Jan 2012 04:48 AM PST

Forexpros – Coffee futures retreated on Wednesday, as concerns over ample global supplies were exacerbated after the International Coffee Organization forecast higher global production of the bean.

On the ICE Futures Exchange, Arabica coffee for March delivery traded at USD2.2535 a pound during European afternoon trade, dropping 0.66%.

It earlier fell by as much as 1.1% to trade at a session low of USD2.2338 a pound.

The International Coffee Organization said Tuesday that global coffee … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Mixed Amid IMF Reports; DAX Up 0.33%

Posted: 18 Jan 2012 04:40 AM PST

Forexpros – European stock markets were mixed on Wednesday, as speculation that the International Monetary Fund may consider ways to enlarge its lending resources supported sentiment, while concerns over the euro zone's debt crisis continued to weigh.

During European afternoon trade, the EURO STOXX 50 rose 0.14%, France's CAC 40 edged down 0.02%, while Germany's DAX 30 added 0.33%.

According to media reports, the IMF wants to reach an agreement on enlarging its lending capacity to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australian Dollar Back For More Punishment

Posted: 18 Jan 2012 04:31 AM PST

The cheer leader for the risk on trade in the currency world is the Australian dollar, after having a huge winner back in Oct/Nov 2011, its time for another go.

Fundamentals have not changed, its just that the can kicking down the road has given the smart money another chance to short the AUDUSD or FXA Etf. Risk on assets have floated up on fumes and the gunslinger professional traders can’t wait to short the risk on trade, starting with the FXA.

China is slowing, dont believe the bull … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Higher On IMF Speculation; Dow Jones Up 0.06%

Posted: 18 Jan 2012 04:21 AM PST

Forexpros – U.S. stock futures pointed to a higher open on Wednesday, as sentiment was lifted by reports the International Monetary Fund may enlarge its lending resources to protect the global economy from the effects of the euro zone's financial crisis.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.06%, S&P 500 futures signaled a 0.10% gain, while the Nasdaq 100 futures indicated a 0.27% increase.

According to media reports, the IMF wants to reach … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Strikes Oil At Surprise

Posted: 18 Jan 2012 04:00 AM PST

Central Petroleum Limited (ASX:CTP) MD, John Heugh details how the company has struck the first significant oil flow from an onshore discovery well for almost five decades in the Northern Territory of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Higher As IMF Speculation Lends Support

Posted: 18 Jan 2012 03:08 AM PST

Forexpros – The euro extended gains against the U.S. dollar and the yen on Wednesday, amid speculation that the International Monetary Fund is looking at ways to enlarge its lending resources to insulate the global economy from the effects of Europe's financial crisis.

During European late morning trade, the euro was sharply higher against the U.S. dollar, with EUR/USD advancing 0.71% to hit 1.2836.

The euro's gains came amid media reports that the IMF wants to reach an agreement on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wheat Futures Slump On Ample Global Supplies

Posted: 18 Jan 2012 03:05 AM PST

Forexpros – Wheat futures slumped to a two-day low on Wednesday, as expectations for a record wheat crop in Australia added to the view that world supplies are sufficient to meet global demand.

On the Chicago Mercantile Exchange, wheat futures for March delivery traded at USD6.0125 a bushel during early European afternoon trade, shedding 0.52%.

It earlier fell by as much as 0.85% to trade at a two-day low of USD6.0025 a bushel.

CBH Group, the crop handler for Western Australia, said … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/GBP Hits 3-day High On IMF Speculation

Posted: 18 Jan 2012 02:52 AM PST

Forexpros – The euro rose to a three-day high against the pound on Wednesday, bolstered by speculation that the International Monetary Fund is looking at ways to expand its lending resources to USD1 trillion, from the existing USD385 billion.

EUR/GBP hit 0.8354 during European morning trade, the pair's highest since January 13; the pair subsequently consolidated at 0.8346, gaining 0.48%.

The pair was likely to find support at 0.8261, Tuesday's low and resistance at 0.8376, the high of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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