Thursday, February 9, 2012

DailyMarkets.com - BP Aims Arctic Expansion

DailyMarkets.com - BP Aims Arctic Expansion

BP Aims Arctic Expansion

Posted: 09 Feb 2012 10:00 AM PST

TNK-BP, a 50:50 joint venture between BP Plc (NYSE:BP) and a group of prominent Russian investors––Alfa Group, Access Industries and Renova––plans to initiate development of oil and gas in the Arctic. Initial investment of approximately $4 billion would be spent over a period of 3 years.
The company plans to continue development in the Arctic region over the next 30 years with total investments of around $12 billion. The production is anticipated to commence in 2016 and reach the level of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Harmony Gold Meets Est, Grows Y/Y

Posted: 09 Feb 2012 10:00 AM PST

Harmony Gold Mining Co. Ltd. (NYSE:HMY) recorded net earnings of 30 cents per share in the second quarter of 2012, significantly higher than 16 cents per share in the previous quarter and 11 cents per share in the year-ago quarter. However, results were in line with the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Overtakes Next Target. Can The Momentum Continue?

Posted: 09 Feb 2012 09:26 AM PST

The USDJPY has overtaken the next hurdle above the 38.2% retracement of the move down from the November 2011 high to the low reached in February. That level comes in at the 77.356 level The next targets above come in at 77.61 and then the midpoint of the same move down at 77.77.
As long as the hurdles can be broken and the price bias stay above previous resistance (i.e., the 100 hour MA, the 38.2% retracement level), the market is happy. As soon as there is disappointment and a break of these … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Visa Outperforms, Sanctions Buyback

Posted: 09 Feb 2012 09:25 AM PST

Visa Inc.'s (NYSE:V) fiscal first-quarter 2012 (ended December 31, 2011) operating earnings of $1.49 per Class A common share were triple pennies ahead of the Zacks Consensus Estimate. Results also substantially exceeded $1.23 per share reported in the year-ago quarter, primarily based on lower share count.
Visa's GAAP net income for the quarter stood at $1.03 billion, climbing 16.4% from $884 million in the year-ago quarter. Besides, operating income escalated 18.4% year over year to $1.62 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CSC Beats Comfortably, Revs Lag

Posted: 09 Feb 2012 09:25 AM PST

Computer Sciences Corporation (CSC) reported third quarter 2012 earnings per share (EPS) of $1.35, way ahead of the Zacks Consensus Estimate of 57 cents.
Revenue
The company reported revenues of $3.76 billion in the quarter, down 5.8% year over year.  The year-over-year decline in revenue was primarily attributed to the reduction in the U.K. National Health Service (NHS) contract. Excluding the NHS contract, total revenue stood at $3.97 billion, reflecting an annualized decrease of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sold LSG – $1.51

Posted: 09 Feb 2012 08:51 AM PST

Due to my general paranoia that the stock market and gold are about to leave the party as the US Dollar makes a conclusive intermediate cycle bottom, I set a limit order sell before the market opened today to sell my shares in Lake Shore Gold (LSG) at $1.51 – 4 cents above my purchase price. I took my eye off this ball and was not aware of the favorable news that was announced after the market closed yesterday. LSG is, at this moment trading up 15% for the day at around $1.63.

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

Ingersoll-Rand Beats Estimates

Posted: 09 Feb 2012 08:50 AM PST

Ingersoll-Rand Plc (NYSE:IR) reported adjusted earnings of 76 cents compared to 62 cents in the year-ago quarter and 81 cents in the last quarter, comprehensively beating the Zacks Consensus Estimate of 67 cents in the financial results of its fourth quarter of 2011.
Full year earnings amounted to $2.82 per share compared to $2.36 per share in 2010; above the Zacks Consensus Estimate of $2.72 per share.
Revenues
Sales amounted to $3.51 billion, falling 5% year over year and 10.7% sequentially. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Atmel Beats Expectations

Posted: 09 Feb 2012 08:35 AM PST

Atmel Corporation (NASDAQ:ATML) reported Non-GAAP net income of $67.5 million or 14 cents per diluted share in its fourth quarter financial results of fiscal 2011 compared to $119.2 million or 25 cents per diluted share in the previous year quarter and $124.0 million or 26 cents per diluted share in the third quarter of 2011, beating the Zacks Consensus Estimate of 10 cents per share.
In 2011, Non-GAAP net income came in at $438 million or 92 cents per diluted share versus $283 million or 59 cents … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bean Traders Await USDA Data

Posted: 09 Feb 2012 08:20 AM PST

Thursday, February 9, 2012
The Soybean market has been pulled in either direction by opposing forces. On one hand, the large US old crop and potentially large new crop have limited the market’s upside. On the other hand, the dry spell in South America could reduce global supplies. Technically, the chart shows consolidation, suggesting a breakout in either direction may happen at any time. Some traders may perhaps with to consider entering into a non-directional strategy, such as a long … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cosan Reports Upbeat 3Q12 Results

Posted: 09 Feb 2012 08:20 AM PST

Brazilian sugar and ethanol producer, Cosan Limited (NYSE:CZZ) released its third quarter 2012 earnings results on February 8. The company’s net income in the quarter increased more than 100% year over year to R$93.8 million (US$52.1 million) versus R$38.7 million (US$22.8 million) in the year-ago quarter.
Revenue
Cosan’s net operating revenue jumped 33.2% year over year to R$6,310.7 million (US$3,505.9 million) but failed to gain momentum to surpass the Zacks Consensus Estimate of US$4,078 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Mixed On Greek Deal

Posted: 09 Feb 2012 08:20 AM PST

02/09/12 The equity averages digested Greece’s debt deal, US jobless claims and central bank rate decisions. Meanwhile, the largest US banks, states and federal officials agreed to a $26 billion foreclosure … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Thursday Morning Links

Posted: 09 Feb 2012 08:12 AM PST

1. You can now be fined $1,000 for throwing a football or a Frisbee on the beaches of L.A. County.

2. Not only do members of Congress benefit from being exempt from the insider trading laws that apply to the rest of us, but a Washington Post investigation has identified 16 members of Congress who have recently taken actions that provided millions of dollars of benefits for specific programs, groups or organizations that are directly connected to their immediate family members.

3.  The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SIRIUS XM Delivers In 4Q

Posted: 09 Feb 2012 08:10 AM PST

Despitea slow moving U.S. economy, SIRIUS XM Radio Inc. (NASDAQ:SIRI) declared solid financial results for the fourth quarter of 2011. As per management, its growth momentum in 2011 will further expand in 2012.  
Quarterly GAAP net income was $71.3 million or 1 cent per share compared with a net loss of $81.4 million or a loss of 2 cents per share in the prior-year quarter. Fourth-quarter 2011 EPS of 1 cent was exactly in line with the Zacks Consensus Estimate. Quarterly total revenue of $783.7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IFF’s 4Q Beats Estimate

Posted: 09 Feb 2012 08:00 AM PST

International Flavors & Fragrances Inc.(NYSE:IFF) reported its fourth quarter and fiscal year 2011 financial results on February 9, 2012. Adjusted earnings per share in the quarter increased 7% year over year to 74 cents compared with 69 cents in the year-ago quarter. Results in the reported quarter were three cents above the Zacks Consensus Estimate of 71 cents per share.
GAAP EPS, including an expense of 44 cents related to the previously announced patent litigation settlement and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Up Slightly On Greek Deal; ECB Press Conference Offers Little Clarity

Posted: 09 Feb 2012 07:05 AM PST

Fundamental Headlines
• Jobless Claims in U.S. Unexpectedly Fall – Bloomberg
• Obama Advisers Improve Economic Outlook – Bloomberg
• German Official Sees no Greek Eurogroup Deal Thursday – Reuters
• Greek Politicians Strike Deal – WSJ
• U.S., Banks Agree on Foreclosure Pact – WSJ
European Session Summary
Higher yielding currencies and risk-correlated assets continued their slow grind higher, with the Japanese Yen's performance having the hallmark performance of a risk-off … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Rallies Near $100 On Euro, Greek Hopes

Posted: 09 Feb 2012 02:00 AM PST

02/09/12 Front month crude prices continued to float around $100 a barrel this morning as reports of a finished Greek deal and a rally in the euro boosted investor interest in crude … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Rise Early On Greek Deal Reports, Again

Posted: 09 Feb 2012 06:15 AM PST

02/09/12 Global stocks saw an early rally on media reports saying that a Greek deal is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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