Wednesday, February 22, 2012

DailyMarkets.com - Amgen A Step Closer To Micromet

DailyMarkets.com - Amgen A Step Closer To Micromet

Amgen A Step Closer To Micromet

Posted: 22 Feb 2012 11:50 AM PST

Amgen (NASDAQ:AMGN) is a step closer to acquiring Micromet, Inc. (NASDAQ:MITI) with the companies announcing the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976. Amgen and Micromet said that the waiting period was terminated on February 14, a few days before the scheduled date of Feb 17.
Amgen had announced its intention to acquire biotech company, Micromet, at the time of releasing its fourth quarter results in January 2012. The companies signed a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Edwards Reaffirmed At Neutral

Posted: 22 Feb 2012 11:40 AM PST

We reiterate our Neutral recommendation on Edwards Lifesciences (NYSE:EW) following its fourth-quarter 2011 results.  The company's adjusted EPS of 62 cents in the quarter was ahead of the Zacks Consensus Estimate though revenues fell short.
Edwards was adversely affected by economic pressure in southern Europe and inconsistent interpretations among the regional Medicare contractors regarding the National Coverage Analysis ("NCA") of transcatheter aortic valve replacement ("TAVR"). … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed 4Q For Rogers Communications

Posted: 22 Feb 2012 11:35 AM PST

Rogers Communications Inc. (NYSE:RCI) declared mixed financial results for the fourth quarter of 2011. However, wireless business, which accounts for nearly 58% of its total revenue, continues with its dream run with record breaking smartphone activations.
Quarterly net income was $320.5 million or 60 cents per share compared with a net income of $296 million or 49 cents per share in the year-ago quarter. The fourth-quarter adjusted EPS was 69 cents, beating the Zacks Consensus Estimate of 67 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New-Look AGL Misses, Up Y-Y

Posted: 22 Feb 2012 11:35 AM PST

Energy services holding company AGL Resources Inc. (NYSE:GAS) reported weaker-than-expected fourth quarter 2011 results, hurt by warm weather and low natural gas prices.
The company – which became the largest domestic natural gas-only distribution entity with about 4.5 million customers across seven states following the December 2011 acquisition of Naperville, Illinois-based Nicor Inc. – announced earnings per share (excluding merger-related expenses) of 87 cents, below the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dollar Tree Beats By A Penny

Posted: 22 Feb 2012 11:35 AM PST

Dollar Tree Inc. (NASDAQ:DLTR) posted strong fiscal 2011 fourth-quarter earnings of $1.60 a share, up 24% from the year-ago earnings of $1.29 a share, surpassing its guidance range of $1.50 to $1.57. Moreover, quarterly earnings also beat the Zacks Consensus Estimate by a penny. Higher sales and improved margins benefited Dollar Tree to post robust quarterly results.
Quarterly Details
Dollar Tree’s total revenue grew 12.8% in the quarter to $1,945.6 million from $1,725.3 million in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TJX Reports In Line

Posted: 22 Feb 2012 11:25 AM PST

TJX Companies Inc. (NYSE:TJX) reported adjusted earnings of 62 cents per share for the fourth quarter ended January 28, 2012. Although earnings were in line with the Zacks Consensus Estimate, they shot up 17% from the year-ago level. The growth was fueled by newer assortments of apparels that increased customer traffic in its stores.
Earnings for the 52-week fiscal year 2012 were $1.99 per share. Although earnings were in line with the Zacks Consensus Estimate, they shot up 14% from the year-ago … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Safeway

Posted: 22 Feb 2012 11:25 AM PST

Safeway (NYSE:SWY), a leading food and drug retailer in North America, is scheduled to report its fourth quarter and fiscal 2011 results on Thursday, February 23 before the opening bell. The current Zacks Consensus Estimate for revenues and earnings per share for the quarter are pegged at $13.5 billion and 64 cents, respectively. For fiscal 2011, earnings are expected to be $1.72 on revenues of $43.45 billion, according to the Zacks Consensus Estimate.
Third Quarter Highlights
Safeway reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: GBPUSD Looks To Test Intraday Resistance

Posted: 22 Feb 2012 11:18 AM PST

GBPUSD has consolidated over the last 5 or so hours of trading and the consolidation has allowed the 100 bar MA on the 5  minute chart to catch up to the price.  Now the market traders have a decision to make?  Do they look to reestablish the trend to the downside, or do they correct above the MA line and correct further to the upside.
Given the bearish bias I would expect sellers to use the level to lean against. If the price moves above , it should lead to stop … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURJPY Moves Closer To Key Resistance On The Daily Chart

Posted: 22 Feb 2012 11:17 AM PST

The 107.06-18 is key technical resistance for the EURJPY. The 107.06 level is the 38.2% retracement of the move down from the 2011 high to the January 2012 low. The 107.22 level is the 200 day MA. The price has not closed above the 200 day MA since July 7th, 2011.  A move toward these key technical levels should slow the ascent higher, with stops on a move above the key level.
On the downside, there is trendline support at the 105.95 currently. Sellers will need to push the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

R.R. Donnelley Reports Mixed 4Q

Posted: 22 Feb 2012 11:05 AM PST

R.R. Donnelley & Sons Co. (NYSE:RRD) reported non-GAAP earnings of 46 cents per share in the fourth quarter 2011, which topped the Zacks Consensus Estimate of 44 cents. However, the reported earnings moved down 9.8% from the previous-year quarter and exclude restructuring and impairment charges and acquisition expenses.
Revenue
The reported revenues edged up 0.5% year over year to $2.72 billion, which missed the Zacks Consensus Estimate of $2.80 billion.
Segment wise, revenue from Product, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Toll Brothers Make Losses

Posted: 22 Feb 2012 11:05 AM PST

Toll Brothers Inc. (NYSE:TOL) recorded a loss of $2.8 million or 2 cents per share in the first quarter of fiscal 2012 ended January 31, 2012 compared with a profit of $3.4 million or 2 cents per share in the same quarter of fiscal 2011 and the Zacks Consensus Estimate of a profit of 3 cents per share.
Revenues dipped 4% to $322.0 million during the quarter on a 1% fall in home building deliveries to 564 units. It was lower than the Zacks Consensus Estimate of $358 million.
Net signed contracts … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Walter Energy Misses Both Ends

Posted: 22 Feb 2012 11:05 AM PST

Walter Energy Inc. (WLT) reported fourth quarter 2011 pro forma earnings of $1.34 per share, down 22.1% from $1.72 per share earned a year ago. The earnings were below the Zacks Consensus Estimate of $1.63 per share.
Walter Energy's fiscal 2011 pro forma earnings were $5.76 per share compared with $7.18 per share reported in 2010, and reflect the issuance of additional shares related to the acquisition of Western Coal Corp. The earnings fell short of the Zacks Consensus Estimate of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Target

Posted: 22 Feb 2012 11:05 AM PST

Target Corporation (NYSE:TGT), the operator of general merchandise and food discount stores in the United States and an S&P 500 company, is slated to report its fourth quarter and fiscal 2011 financial results before the opening bell on Thursday, February 23, 2012.
The current Zacks Consensus Estimate for the quarter is pegged at $1.39 per share that reflects a decline of 4.1% from the prior-year quarter's earnings. The analysts' estimates in the current Zacks Consensus range between a low … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Profiles In Courage Blowing The Whistle

Posted: 22 Feb 2012 11:01 AM PST

I have crossed paths with some exceptionally interesting people while navigating our economic landscape and writing Sense on Cents over the last few years. These individuals encompass a wide swath of our American population and include investors, economists, lawyers, consumers, small businesspeople, bankers, students, and so many more.
While I admire and respect most of the people with whom I interact, there are a handful who truly occupy a very special place in my heart and in the Sense … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Autodesk Inc.

Posted: 22 Feb 2012 10:50 AM PST

Autodesk Inc. (NASDAQ:ADSK) is scheduled to release its fiscal fourth quarter 2012 results after the closing bell on Thursday, Feb 23, 2012. In the run-up to the earnings release we notice only one analyst revising estimates in the last 30 days.
A Sneak Peek into the Previous Quarter
Autodesk reported a strong third quarter driven by continued growth in revenues across geographies and business segments. The company reported robust top-line growth on the back of higher license and other revenues, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Corporations Don’t Need A Tax Cut, So Why Is Obama Proposing One?

Posted: 22 Feb 2012 10:40 AM PST

The Obama administration is proposing to lower corporate taxes from the current 35 percent to 28 percent for most companies and to 25 percent for manufacturers.
The move is supposed to be "revenue neutral" – meaning the Administration is also proposing to close assorted corporate tax loopholes to offset the lost revenues. One such loophole allows corporations to park their earnings overseas where taxes are lower.
Why isn't the White House just proposing to close the loopholes without … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sold USSID @ $2.40

Posted: 22 Feb 2012 10:40 AM PST

I sold my shares of US Silver Corp (USSID) today at $2.40 and am now entirely in cash. I continue to be wary of a stock market correction that will bring mining shares down with it and have patiently sold each miner I owned at a small profit and left the playing table. 

My retirement account, which is another matter altogether, will continue to hold both Claude Resources (CGR) and US Silver (USSID) until something closer to their fair value is recognized by the market.

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

Earnings Preview: Patterson Co

Posted: 22 Feb 2012 10:36 AM PST

Patterson Companies (NASDAQ:PDCO), a leading distributor of dental, veterinarian and rehabilitation medical supplies, is slated to report its third-quarter fiscal 2012 results before trading begins on Thursday, February 23. Analysts polled by Zacks are currently looking for revenues and earnings per share of $864 million and 50 cents for the quarter, respectively.
With respect to earnings surprises, the Minnesota-based company has posted three negative surprises in the preceding four quarters while … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Guilfoyle: “Market…seems Stuck In Malaise”

Posted: 22 Feb 2012 10:30 AM PST

02/22/12 Meridian Equity Partners’ Stephen Guilfoyle discusses ongoing EU debt woes, the latest central bank moves and key technical … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CZZ Upgraded To Outperform

Posted: 22 Feb 2012 10:20 AM PST

 
Brazil's sugar and ethanol producer, Cosan Limited (NYSE:CZZ) was recently upgraded to an Outperform recommendation by us; inspired largely by the company's long-term growth prospects. The stock was previously rated Neutral by us.
We are confident about Cosan's performance in the years to come. Strategic acquisitions, growing sugar and ethanol demand, energy co-generation and transportation business seem to be the prime growth driving catalysts. Besides, renewal of the share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wells Fargo Buys Energy Lending Biz

Posted: 22 Feb 2012 10:05 AM PST

Wells Fargo & Company (NYSE:WFC) is boosting its energy lending business. Its banking unit, Wells Fargo Bank has entered into a definitive agreement to purchase BNP Paribas' North American reserve-based and associated diversified energy lending business in an all-cash deal.
The deal, subject to regulatory approvals and other customary closing conditions, is anticipated to close in the second quarter of 2012. Terms of the deal were, however, not disclosed.
The purchase is expected to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Netflix Teams TWC To Enhance Content

Posted: 22 Feb 2012 09:50 AM PST

A leading provider of online movie rental services, Netflix Inc. (NFLX) recently entered into a multi-year exclusive licensing deal with The Weinstein Company (TWC). Under the terms of the agreement, Netflix will stream TWC produced movies online within one year of their theatrical release. However, the financial terms of the transaction were not disclosed.
TWC is the producer of the 2012 Oscar nominated movie "The Artist". The recent deal will also allow Netflix to stream this critically … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Foster Wheeler

Posted: 22 Feb 2012 09:50 AM PST

Foster Wheeler AG (NASDAQ:FWLT) is slated to release its fourth-quarter 2011 results on Thursday, February 23, 2012. The current Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is 45 cents, representing an annualized growth of 43.6%.  
For 2011, the Zacks Consensus Estimate for earnings per share is $1.47, reflecting an estimated decline of 15.81%.
Foster Wheeler' earnings were below of the Zacks Consensus Estimate by 11 cents in the last quarter and above estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Extends The Range But…

Posted: 22 Feb 2012 09:23 AM PST

The range extended to the upside at 1.3263 but could only make it to 1.3265 before sellers came back in.  The close from yesterday is at 1.3234 and I would expect buyers on dips with stops below the 1.3234 level. 
The pennant formation should solicit more buying and the narrow trading range supports the upside, but the first attempt higher has been a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Bounces Off Of Topside Resistance

Posted: 22 Feb 2012 09:23 AM PST

USDJPY made new highs on the day – encouraged by higher oil prices and but found sellers against the topside trendline.  The high reached 80.39.  A move above this trendline needs to be breach to extend higher today. Above that level is the 50% of the move down from the April 2011 high at the 80.535 level. 
The bulls are still in charge but there is better two way flows it seems as profit takers are aware of the key resistance above.  Sellers still need to prove they … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: AUDUSD Narrow Range Has Sellers Looking For Momentum

Posted: 22 Feb 2012 09:23 AM PST

The AUDUSD has been in a narrow trading range for the month February. The 279 pips is the narrowest since 257 pips in Feb 2011 and 254 is April 2010.  Today, the price fell to new  month lows and that low was extended in NY, after a rally into the London session. When the new low could not sustain, the choppy session continued for the pair.
Looking at the shorter term  5 minute chart below, the last move higher tested and held the 50% of the days range and the 200 bar … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Catalyst Health Beats On Volume

Posted: 22 Feb 2012 09:20 AM PST

Catalyst Health Solutions Inc. (CHSI) reported fourth-quarter operating earnings per share of 69 cents, beating the Zacks Consensus Estimate by 3 cents. The result also compares favorably with 56 cents earned in the prior-year quarter.
Operating income amounted to $50.8 million, up from $37.4 million in the fourth quarter of 2010. Operating income in the reported quarter excludes the impact of non-recurring items such as transaction costs and integration expenses related to the Walgreens Health … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Range Resources Outperforms

Posted: 22 Feb 2012 09:10 AM PST

Range Resources Corp. (NYSE:RRC) has reported robust fourth-quarter 2011 results, buoyed by a higher production level and realized prices along with lower unit costs. The company posted adjusted earnings of 33 cents a share, comprehensively beating the Zacks Consensus Estimate of 18 cents. Results also experienced an almost 74% growth from the year-earlier profit of 19 cents a share.
For full-year 2011, the company posted adjusted earnings of $1.11 a share, surpassing the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quanta Beats Estimates

Posted: 22 Feb 2012 08:55 AM PST

Quanta Services Inc. (NYSE:PWR) released its fourth quarter 2011 results before the opening bell today, reporting adjusted Non-GAAP earnings per share of 41 cents, above the Zacks Consensus Estimate of 34 cents and 23 cents in the prior-year quarter.
In 2011, adjusted Non-GAAP earnings came in at 83 cents per share versus 92 cents per share in 2010. This was above the Zacks Consensus Estimate of 65 cents per share.
Total Revenue
Total revenue for the quarter was $1.51 billion, rising 36.0% y/y and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cintas Partners With ScanMD

Posted: 22 Feb 2012 08:55 AM PST

In order to convert medical charts to electronic formats Cintas Corporation (NASDAQ:CTAS) has entered into a partnership with ScanMD recently. Cintas will now be able to switch to electronic medical records (EMR) instead of maintaining elaborate paper charts and files.
The coalition will guarantee Cintas the security of medical records by converting the paper charts into electronic formats, backed-up on secure servers.  The searchable data fields will make the task of searching the patient's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Namibian Central Bank Keeps Rate At 6.00%

Posted: 22 Feb 2012 08:50 AM PST

The Bank of Namibia kept its benchmark interest rate, the repurchase rate, unchanged at 6.00%, for the 7th consecutive meeting.  Bank of Namibia Governor Ipumbu Shiimi said: ”In view of the need to ensure a sustained growth in the domestic economy, the MPC is of the view that a tightening of the monetary policy stance at this stage might be premature and thus detrimental to the growth prospects.”

The Namibian central bank also held its interest rate unchanged at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Saks Surpasses; Offers Guidance

Posted: 22 Feb 2012 08:30 AM PST

Saks Incorporated(NYSE:SKS) delivered better-than-expected fourth-quarter 2011 earnings of 17 cents per share, surpassing the Zacks Consensus Estimate by 3 cents. The results also exceeded the earnings of 13 cents per share in the year-ago quarter.
The fiscal 2011 earnings of 44 cents also surpassed the prior-year earnings of 19 cents per share and the Zacks Consensus Estimate of 38 cents.
The results were driven by robust operating performance, strong same-store sales growth and gross margin … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Comparing Daily Range Volatility In SP500 And Dow Jones

Posted: 22 Feb 2012 08:21 AM PST

While there are plenty of methods to assess the volatility environment of a market, one of the simplest tactics is to measure the daily range.
Let's take a look at the pure daily range of the S&P 500 and Dow Jones index through major up and down periods over the last few years.
Here's the S&P 500:

Click for full-size image.
The custom indicator at the bottom subtracts the low of the day from the high of the day, which gives us the point spread or range of the day.
For example, if … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: DTS Inc.

Posted: 22 Feb 2012 08:15 AM PST

Entertainment technology provider DTS Inc. (DTSI) is scheduled to announce its fourth quarter 2011 results after the market closes today. We expect the company to earn 40 cents per share in this quarter based on an estimated 8.0% year-over-year growth in revenue to $29.0 million.
Prior-Quarter Recap
DTS posted lackluster third quarter results, which missed the Zacks Consensus Estimate on both the top and bottom lines. DTS reported third quarter 2011 earnings (excluding amortization but … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Months Supply Of Homes Close To Six-Year Low

Posted: 22 Feb 2012 07:44 AM PST

In another sign of a housing recovery, the National Association of Realtors reported today that “U.S. home resales surged in January to a 1-1/2 year high and the supply of properties on the market was the lowest in almost seven years.”

The chart above shows the “months supply of homes” at the current sales rate, which fell to 6.1 months in January, the lowest level since April of 2006.  With the inventory of homes for sale falling back to historically normal levels, it’s another sign … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Dips On EU Data, But Still Above $105

Posted: 22 Feb 2012 07:00 AM PST

02/22/12 Oil prices were experiencing a slight dip this morning, but still remained above $105 a barrel as weak European manufacturing data clashed with mounting Iranian … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Drop, Stock Futures Mixed Ahead Of Housing Data

Posted: 22 Feb 2012 01:45 AM PST

02/22/12 Stock futures were mixed ahead of housing data and European markets were in the red following weak eurozone manufacturing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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