Thursday, January 12, 2012

DailyMarkets.com - Raytheon Gets Sonar Contract

DailyMarkets.com - Raytheon Gets Sonar Contract

Raytheon Gets Sonar Contract

Posted: 12 Jan 2012 10:35 AM PST

Raytheon Company (NYSE:RTN) has been awarded an $80.8 million contract modification from the U.S. Navy in support of a Foreign Military Sale of the AN/AQS-22 Airborne Low Frequency Sonar ("ALFS") to the Royal Australian Navy. ALFS is the primary undersea warfare sensor for the U.S. Navy’s MH-60R multimission helicopter.
ALFS provides critical undersea warfare mission support capabilities, including submarine detection, tracking, localization, classification, acoustic intercept, underwater … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Brinker Keeps A Neutral Rec

Posted: 12 Jan 2012 10:20 AM PST

We are maintaining our long-term Neutral recommendation on Brinker International Inc. (NYSE:EAT), which owns, develops, operates and franchises the Chili’s Grill & Bar (Chili’s) and Maggiano’s Little Italy (Maggiano’s) restaurant brands primarily in the United States.
The Dallas, Texas-based company reported adjusted earnings of 30 cents in the first quarter of fiscal 2012, surpassing the Zacks Consensus Estimate by 3 cents, benefiting from same-store sales growth, higher restaurant margin as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dell To Start Second China Inning

Posted: 12 Jan 2012 10:05 AM PST

The world's third largest PC maker Dell Inc. (NASDAQ:DELL) is all set to open its second innings in China. Dell plans to start production in its newly constructed operating unit in Chengdu, Western China by coming February or late 2012.
This Chinese expansion is taking a long time to take off. The plan was initiated in September 2010, while the construction of the unit was started in September 2011. Previously, Dell expected the unit to be operational by the end of fiscal 2011, creating 3000 IT … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Parker-Hannifin Reiterates At Neutral

Posted: 12 Jan 2012 10:00 AM PST

We recently maintained a Neutral recommendation on Parker-Hannifin Corporation (NYSE:PH).
Parker-Hannifin Corporation is a leading worldwide full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components. In addition to motion and control products, the company is also a leading worldwide producer of fluid purification, fluid and fuel control, process instrumentation, air conditioning, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Largest Contract In Company History Could Be A Stepping Stone!

Posted: 12 Jan 2012 10:00 AM PST

Largest Contract in Company History Could be a Stepping Stone!
Ken Nagy, CFA

AUXILIO (AUXO) is the only health care exclusive, vendor neutral Managed Print Services (MPS) firm that provides document production management strategies, services and solutions to hospitals throughout the United States. AUXILIO's continuous workflow improvement solutions enable hospitals and health systems to reduce costs and waste in their operational and clinical functions by managing the process of document … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BlackRock To Buy ETF Firm Claymore

Posted: 12 Jan 2012 09:35 AM PST

BlackRock Inc. (NYSE:BLK) has agreed to buy Claymore Canada from Guggenheim Partners LLC. The announcement came out yesterday and it was said that both parties have entered into a definitive agreement in this context. With this deal, BlackRock would be able to expand its exchange-traded fund (ETF) business in Canada.
Claymore is based in Toronto and acts as an independent Canadian subsidiary of Guggenheim Funds Services Group, a subsidiary of Guggenheim Partners, LLC.
BlackRock, the leading asset … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Shares Mixed On Negative U.S. Numbers; DAX Up 0.44%

Posted: 12 Jan 2012 09:32 AM PST

Forexpros – bsp;Forexpros – European shares closed mixed Thursday as economically positive bond auction results in Spain and Italy were offset by negative U.S. numbers.

After the close of European trade, the EURO STOXX gained 0.27%, France’s CAC 40 dropped 0.15%, while Germany’s DAX 30 closed up 0.44%. Meanwhile, in the U.K. the FTSE 100 fell 0.15%.

In the U.S., a report indicated that more Americans filed for unemployment benefits last week than forecasted adding to speculation that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Analyst Interviews: U.S. Banks Stock Outlook

Posted: 12 Jan 2012 09:30 AM PST

The recurrence of the intimidating 2008 meltdown is not expected for the U.S. banking industry in 2012 as the financial institutions are actively responding to every legal and regulatory pressure. In fact, this promptness has positioned the banks well to encounter impending challenges.

However, the potency of the sector is not expected to return to its pre-recession peak anytime soon. The economic intricacy may even result in further disappointments in the upcoming quarters.

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

Forex Trading: USDCHF Holds Its 38.2% Retracement Level Too.

Posted: 12 Jan 2012 09:21 AM PST

The USDCHF has had an acceleration lower today as it stays in synch with the EURUSDs move. The correction off its lows today, saw the price move up to the 38.2% of the last accelerated move down at the 0.9465 level. This level is also the 200 hour MA (see green line in the chart below).  The holding of resistance on the 5 minute and the 200 hour on the hourly chart, keeps the bears in charge.
Clearly the level is an important ceiling for the pair.  Stay below … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Regions Offloads Morgan Keegan

Posted: 12 Jan 2012 09:20 AM PST

At the beginning of earnings season, Regions Financial Corp. (NYSE:RF) finally succeeded in selling its securities brokerage arm, Morgan Keegan & Company, Inc. On Wednesday, Regions entered a stock purchase agreement with Raymond James Financial Inc. (NYSE:RJF) to sell Morgan Keegan for $930 million.
Under the terms of the deal, Regions would also receive a dividend of $250 million from Morgan Keegan before closing, thereby projecting $1.18 billion as the net amount of the proceeds.
The deal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Washington Federal Beats By 2 Cents

Posted: 12 Jan 2012 09:05 AM PST

Washington Federal Inc. (NASDAQ:WFSL) reported the first-quarter earnings for fiscal 2012 (ended December 31, 2011) of 31 cents per share, beating the Zacks Consensus Estimate by 2 cents. The result was also substantially better than the year-ago quarter's earnings of 22 cents. 
Washington Federal's net income in the reported quarter stood at $33.4 million, up nearly 36% from $24.5 million in the prior-year quarter.
Though the results were impacted by higher non-interest expenses and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Indonesia Keeps Interest Rate At 6.00%

Posted: 12 Jan 2012 09:04 AM PST

Indonesia’s central bank, Bank Indonesia, kept the BI reference rate unchanged at 6.00%.  Bank Indonesia Governor, Darmin Nasution, said: “Board of Governors views that current BI rate is still consistent with inflation targets, financial system stability, and remains conducive to propel domestic economic expansion amidst global economic uncertainty. In 2011, Indonesian economy showed strong performance with low inflation, higher economic growth, stable exchange rate, and stable … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Life Expectancy Reaches New High Of 78.7 Yrs.

Posted: 12 Jan 2012 08:51 AM PST

Life expectancy in the U.S. increased to a new all-time high of 78.7 years in 2010, according to data released yesterday by the government.  The chart above shows the significant correlation between real GDP per capita and life expectancy in the U.S. from 1929 to 2010.

For a longer interactive graphic from Gapminder that covers the period from 1800 to 2010 showing the relationship between U.S. life expectancy and real GDP per capita, go … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Big 5 Cuts Outlook On Tepid Sales

Posted: 12 Jan 2012 08:50 AM PST

Sporting products retailer, Big 5 Sporting Goods Corporation's (NASDAQ:BGFV) sales of $226.7 million in the fiscal 2011 fourth quarter were flat compared to last year, due to soft same store sales results, which were affected by unfavorable winter weather in most markets where the company operates as well as heightened promotional activities.
Same store sales (comps) for the fourth quarter were down 2.1%. During the first half of the fourth quarter, Big 5's comps grew in the low mid-single-digit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RIO Completes Hathor Acquisition

Posted: 12 Jan 2012 08:40 AM PST

Miner Rio Tinto plc (NYSE:RIO) through an indirect wholly-owned Canadian subsidiary completed acquiring the remaining shares of Hathor Exploration Limited for C$4.70 in cash. Hathor Exploration is a Canada-based uranium company.
The deal involved the acquisition of roughly 7.9 million shares, or 5.87% of Hathor's outstanding shares.  After the consummation of the transaction, Rio Tinto owns 100%, or roughly 135.3 million of Hathor's common shares. The uranium company will probably be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of England Keeps Rate At 0.50%, APP At 275B

Posted: 12 Jan 2012 08:36 AM PST

The Bank of England (BoE) held the Bank Rate at a record low stimulatory level of 0.50%, and continued with its Asset Purchase Program (Quantitative Easing) target of GBP 275 billion, after increasing it by 75 billion at its October meeting.  On its asset purchase program, the Bank said: “The Committee expects the announced programme of asset purchases to take until early February to complete. The scale of the programme will be kept under review.”  The Bank … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Central Bank Holds Rate At 1.00%

Posted: 12 Jan 2012 08:22 AM PST

The European Central Bank (ECB) held its Main refinancing operations rate unchanged at 1.00%.  ECB governor, Mario Draghi, said: “Inflation is likely to stay above 2% for several months to come, before declining to below 2%. At the same time, the underlying pace of monetary expansion remains moderate. As expected, ongoing financial market tensions continue to dampen economic activity in the euro area, while, according to some recent survey indicators, there are tentative … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Avnet’s Neutral Rating Retained

Posted: 12 Jan 2012 08:20 AM PST

We continue to maintain a sideline view of Avnet, Inc. (AVT), thereby retaining our Neutral recommendation on the company's stock.
Avnet has been active in maintaining its pace with regard to strategic acquisitions. Nexicore Services LLC, purchased for increasing logistics at its Texas, Ohio and Georgia centres, was the last major acquisition of the company.
Previously in 2011, we witnessed the acquisitions of J.C. Rally Trading Co. Ltd. and Pinnacle Data Systems Inc. These acquisitions were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Set For More Range-Bound Trading?

Posted: 12 Jan 2012 08:18 AM PST

Thursday, January 12, 2012
Crude Oil futures got a jolt from the Iranian and Nigerian situations, as many traders put European debt concerns on the back burner for the time being. While the market is well supplied at the moment, the geopolitical situation may take precedence in the near-term. Technically, it looks as though Oil may be in store for more range-bound trading. Some traders might possibly wish to consider initiating a short futures options position in the Crude Oil, like selling a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR And CHF The Movers Today.

Posted: 12 Jan 2012 08:18 AM PST

The above chart shows the effects on the USD vs the major currencies.  A line to the left of th 0% is indicative of the USD moving lower against the respective currency. A line to the right of the 0% is indicative of the USD rising against the respective currency.   As can be seen the action is in $ is against the EUR, CHF to the downside and the opposite direction against the NZD. The rest of the currencies are basically unchanged versus the dollar.
The story for the move … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests Intraday Support At 1.2790

Posted: 12 Jan 2012 08:18 AM PST

The EURUSD is down testing the 38.2 % of the quick move higher this morning. That level comes in at the 1.2790 level. The level is also near the high from yesterday's trade at 1.2788 area.  A move below opens the downside for further corrective action of the move higher today. Holding keeps the bulls happy.
The sharp move higher stopped at the 200 hour MA (green line in the chart below). This has led to the correction lower.  It now is up to the sellers to prove they have the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Plunge Further After Modest Supply Drop

Posted: 12 Jan 2012 08:12 AM PST

Forexpros – Natural gas futures plunged on Thursday, falling to a fresh 28-month low for the third consecutive day as concerns over elevated inventory levels lingered after the U.S. Energy Information Administration said that natural gas inventories declined modestly last week.

On the New York Mercantile Exchange, natural gas futures for delivery in February traded at USD2.695 per million British thermal units during U.S. morning trade, plunging 2.87%.

It earlier fell by as much as 3.46% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Lower After Weak U.S. Data, ECB

Posted: 12 Jan 2012 08:12 AM PST

Forexpros – The U.S. dollar was broadly lower against its major counterparts on Thursday, following comments by European Central Bank President Mario Draghi and after weaker-than-forecast U.S. economic data.

During U.S. morning trade, the dollar was sharply lower against the euro, with EUR/USD rallying 0.79% to hit 1.2808.

The euro rallied after European Central Bank President Mario Draghi said the ECB saw “tentative signs of stabilization of activity at low levels” although the economy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Dip After Economic Data, ECB

Posted: 12 Jan 2012 08:10 AM PST

01/12/12 Wall Street opened with a modest gain but retreated into negative territory. US data came in weaker-than-expected, while EU bond auctions went smoothly. ECB’s Draghi weighed in on the debt crisis in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apple Buys Anobit

Posted: 12 Jan 2012 08:05 AM PST

Confirming earlier rumors, Apple Inc. (AAPL) bought Israeli flash chip-maker Anobit Technologies Ltd. on January 6. According to Bloomberg, Apple dished out $390.0 million for Anobit, less than the rumored figure of $400.0 to $500.0 million. However, Apple declined to disclose any further details about the transaction.
The acquisition is in line with Apple's strategy of acquiring small start-ups, which have historically been quintessential for its business growth. Traditionally, Apple has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Dips After U.S. Data, BOE

Posted: 12 Jan 2012 07:43 AM PST

Forexpros – The pound was slightly lower against the U.S. dollar on Thursday, after weaker than expected U.S. economic data weighed on demand for riskier assets.

GBP/USD hit 1.5368 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.5319, inching down 0.07%.

Cable was likely to find support at 1.5277, the day's low and a three-month low and resistance at 1.5469, the high of January 9.

In the U.S., the Department of Labor said earlier that the number of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits 1-week High After Draghi Remarks

Posted: 12 Jan 2012 07:20 AM PST

Forexpros – The euro extended gains against the U.S. dollar on Thursday, rallying to a one-week high as comments by European Central Bank President Mario Draghi eased concerns over the sovereign debt crisis in the euro zone.

EUR/USD hit 1.2838 during U.S. morning trade, the pair's highest since January 5; the pair subsequently consolidated at 1.2814, gaining 0.84%.

The pair was likely to find support at 1.2700, the session low and an almost 16-month low and resistance at 1.2946, the high … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Rally Above USD1,660 As Draghi Comments Lift Euro

Posted: 12 Jan 2012 07:19 AM PST

Forexpros – Gold futures extended sharp gains on Thursday, climbing to a fresh four-week high as the euro rose against the U.S. dollar following positive comments from European Central Bank President Mario Draghi.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,661.05 a troy ounce during early European morning trade, rallying 1.28%.

It earlier rose by as much as 1.35% to trade at USD1,662.85 a troy ounce, the highest since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Business Inventories Rise Less-than-expected In November

Posted: 12 Jan 2012 07:04 AM PST

Forexpros – U.S. business inventories rose less-than-expected in November, official data showed on Thursday.

In a report, the U.S. Census Bureau said that wholesale inventories rose by 0.3% in November, compared to expectations for a 0.4% gain.

Wholesale inventories rose by an unrevised 0.8% in October.

Year-on-year, business inventories rose at an annualized rate of 9.6% in November, after rising at a rate of 10.9% in October.

Following the release of the data, the U.S. dollar remained … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Mixed After Weak Data; Dow Jones Down 0.02%

Posted: 12 Jan 2012 07:01 AM PST

Forexpros – U.S. stocks were mixed on Thursday, as markets were jittery after weak U.S. employment and retail sales data despite positive comments by European Central Bank President Mario Draghi.

During early U.S. trade, the Dow Jones Industrial Average eased 0.02%, the S&P 500 index rose 0.11%, while the Nasdaq Composite index edged up 0.07%.

The U.S. Department of Labor said earlier that the number of individuals filing for initial jobless benefits in the week ending January 7 rose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Supply Fears Lift Crude Above $101

Posted: 12 Jan 2012 02:00 AM PST

01/12/12 Iranian tensions, a Nigerian strike, and a rally in the euro has paved the way for crude to reverse yesterday’s losses and rise above $101 a barrel this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Holds Gains As Nigeria Supply Fears Counter Poor U.S. Data

Posted: 12 Jan 2012 06:49 AM PST

Forexpros – Crude oil futures held on to sharp gains on Thursday, as growing concerns over a disruption to Nigerian oil supplies and a broadly weaker U.S. dollar countered downbeat data on U.S. jobless claims and retail sales.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February traded at USD102.59 a barrel during early U.S. morning trade, rallying 1.7%.

It earlier rose by as much as 1.98% to trade at a two-day high of USD102.95 a barrel.

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

European Markets Higher, But Gains Limited

Posted: 12 Jan 2012 01:00 AM PST

01/12/12 Global markets were rising this morning following successful debt auction in Spain and Italy. However, gains in the US were limited following weaker-than-expected jobs and retail sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BOE And ECB Keep Rates On Hold; Draghi Signals No New Measures

Posted: 12 Jan 2012 05:48 AM PST

Fundamental Headlines
• China Snubs Geithner on Iran Oil – Bloomberg
• U.S. Jobless Claims Rise More Than Forecast – Bloomberg
• Yields Fall Sharply at Spanish, Italian Debt Sales – Reuters
• Draghi Warns Euro-zone Economy Will Remain Weak – WSJ
• Talks Progress as Greek Deficit Worsens – WSJ
European Session Summary
While the majors rallied against the U.S. Dollar throughout the early part of the European session, it became clear that Thursday's rate decisions would drive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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