Monday, February 13, 2012

DailyMarkets.com - Twin Bank Failures, Tally Hits 9

DailyMarkets.com - Twin Bank Failures, Tally Hits 9

Twin Bank Failures, Tally Hits 9

Posted: 13 Feb 2012 11:55 AM PST

After a week's let-up, U.S. regulators were back in action last Friday, shuttering two more banks in Illinois and Indiana. This brings the total number of bank failures to 9 so far in 2012, following 92 in 2011, 157 in 2010, 140 in 2009 and 25 in 2008.
While the financials of a few large banks continue to stabilize on the back of an economic recovery, the industry is still on shaky ground. The sector presents a picture similar to that of 2011, with nagging issues like depressed home prices … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AEP Guides For 2012 And More

Posted: 13 Feb 2012 11:50 AM PST

American Electric Power Company Inc. (NYSE:AEP) provided an update on its earnings and capital spending plans for the period 2012-2014. The company had posted its fourth and fiscal 2011 results last month.
American Electric Power expects pro forma earnings in the range of $3.05 to $3.25 per share for fiscal 2012. Over the next few years, the company expects earnings growth to be in the range of 4% to 6% driven by investment in regulated operations, a refocus on transmission business and capital … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: C.R. Bard

Posted: 13 Feb 2012 11:35 AM PST

Leading medical devices maker C.R. Bard (NYSE:BCR) beat the Zacks Consensus Estimates in fourth-quarter 2011 but its profits were dragged down by hefty charges. The company's adjusted earnings per share of $1.70 beat the Zacks Consensus Estimate of $1.68. Profit (as reported) slid 16% year over year to $113.8 million (or $1.30 a share).
Highlights from the Quarter
Revenues for the quarter rose 5% year over year to $751.9 million, comfortably beating the Zacks Consensus Estimate of $748 million. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Varian Medical

Posted: 13 Feb 2012 11:20 AM PST

Oncology and X-Ray products company, Varian Medical Systems (NYSE:VAR) reported first-quarter fiscal 2012 earnings per share of 79 cents, beating the Zacks Consensus Estimate of 76 cents but missing the year-ago earnings of 80 cents per share. Net earnings for the quarter slipped 6.5% year over year to $90.2 million (or 79 cents a share).
First Quarter Highlights
Varian's top line witnessed a 9% increase to $625 million in the quarter, but trailed the Zacks Consensus Estimate of $633 million. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURJPY Tests 100 Hour MA. Key Area For The Pair

Posted: 13 Feb 2012 11:18 AM PST

The EURJPY has stalled the decline against trendline and just below the 100 hour MA at the 102.46. The price has been moving up and down in a non trending range since rallying higher  from the Feb 6th low. Momentum below the 100 hour is eyed.  If it does not materialize a move back toward the highs cannot be ruled out.   If the pair finds seller, the low from Friday at the 102.14 level and then the 38.2% of the move up from the Feb 6th low at the 101.96 will need to be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: LSI Corporation

Posted: 13 Feb 2012 11:10 AM PST

Earnings estimates of LSI Coporation (NYSE:LSI) have inched up after the company reported better-than-expected results for the fourth quarter and provided a positive guidance for the first quarter of 2012.
The current Zacks Consensus Estimate is $0.47, up $0.03 in the last 30 days. 2 out of the 6 analysts covering the stock have upped their estimates for 2012 in the last 30 days while one moved in the opposite direction.
LSI is excited about the new product cycle ramps, accumulated share gains and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Buffalo Wild

Posted: 13 Feb 2012 10:50 AM PST

Buffalo Wild Wings Inc (NASDAQ:BWLD), a casual dining restaurant and sports bar franchise in the United States renowned for its Buffalo wings, exited fiscal 2011 on a positive note on the back of strong top-line growth and unit growth. The Minneapolis, Minnesota-based company's fourth quarter earnings of 73 cents per share, surpassed the Zacks Consensus Estimate of 67 cents per share and also jumped 32.7% from the year-ago quarter earnings of 55 cents per share.
Buffalo Wild Wings also affirmed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Vale S.A

Posted: 13 Feb 2012 10:35 AM PST

Vale S.A (VALE) will report its fourth-quarter and fiscal 2011 earnings on Wednesday, February 15, 2012 after market closes.
The current Zacks Consensus Estimate for earnings per share (EPS) is $1.08, representing an annualized decline of 3.77%.  
With respect to earnings surprises, over the trailing four quarters, Vale underperformed in three consecutive quarters and was in line in the remaining. The average earnings surprise was a negative 14.93%, implying that the company has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Georgia Opts SCANA’s Regulated Gas

Posted: 13 Feb 2012 10:25 AM PST

SCANA Energy, a unit of SCANA Corporation (NYSE:SCG) was again chosen as Georgia's regulated natural gas provider from a competitive bid. Since the regulated provider's foundation in 2002, SCANA has served as the regulated provider in Georgia's deregulated natural gas market and is thus a stabilizing factor.
As SCANA has retained its position as the preferred regulated provider of gas since 2002, it goes to show the high quality of service it has been providing to the underprivileged and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Back Below The 38.2% Retracement

Posted: 13 Feb 2012 10:21 AM PST

Fitch as downgraded a number of Spanish banks today and says that they expect Spanish unemployment to remain elevated (it is currently pushing 23%. Click on the chart above outlining the trends in the Spanish economic statistics).  The report has not had a huge impact on the EURUSD although it has dipped back below the 1.32084 level which is the 38.2% of the move up from the February 6th low.  The low for the day came in at the 1.3200 level. Below that the 200 hour MA at the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDCHF Reaches 200 Hour MA And Finds Sellers

Posted: 13 Feb 2012 10:21 AM PST

The USDCHF pushed higher in the last 20 minutes of trading and hit the 200 hour MA at the 0.9155 level (high reached 0.9155. The resistance target was too tempting for longs and they quickly took some profit against the level. The pair has moved below the 50% retracement of the move down from Friday's high at the 0.9150 level now but  has additional intraday suppport at the  0.9142 level get through before longs give … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Legg Mason’s January AUM Perks Up

Posted: 13 Feb 2012 10:10 AM PST

Baltimore-based Legg Mason Inc. (NYSE:LM) experienced a rise in its assets under management (AUM) in January 2012 on a sequential basis. This was preceded by a rise in December 2011 but a decline in November 2011 AUM.
Preliminary month-end AUM came in at $631.3 billion, up 0.7% compared with the prior month. Though liquidity AUM plummeted, fixed income AUM and equity AUM climbed compared with the prior month.
Legg Mason's equity AUM as of January inched up 5% from the prior month to $160.9 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Eastman Collaborates With Balcas

Posted: 13 Feb 2012 09:50 AM PST

Eastman Chemical Company (NYSE:EMN) announced a strategic collaboration with Balcas Ltd., whereby Balcas will use Eastman’s Cerfis technology to manufacture interior moulding for distribution in Europe.
Balcas, one of Britain and Ireland’s largest wood products suppliers, has a turnover of £65 million. In addition to 300 people, who are engaged in forest harvesting and haulage, the Group has 700 direct employees.
Eastman’s Cerfis licensing program enables licensees to utilize patented surface … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nissan Profits Up 3.2%

Posted: 13 Feb 2012 09:35 AM PST

Japan's third largest automaker, Nissan Motors Co. (NASDAQ:NSANY), posted a 3.2% rise in profits to ¥82.7 billion ($1.07 billion) in the third quarter of its fiscal year ended December 31, 2011 from ¥80.1 billion in the same period last year despite the backlash from severe floods in Thailand and an appreciating yen.
The company stated that the dollar was trading at about ¥77 during the last quarter, down from ¥83 in the previous year quarter.
Sales in the quarter went up 10.9% to ¥2.33 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rambus, NVIDIA Shake Hands

Posted: 13 Feb 2012 09:35 AM PST

The prolonged legal battle between technology licensing company Rambus Inc. (NASDAQ:RMBS) and graphics chip provider NVIDIA Corp. (NASDAQ:NVDA) has finally come to an end. The ice melted with the two tech companies entering into a patent licensing deal for five years. Apart from this, the companies freed themselves of legal hassles through mutual settlement.
Per the deal, Rambus will offer NVDIA certain technologies useful for producing a broad range of memory chips. Though financial benefits on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earning Scorecard: MSI

Posted: 13 Feb 2012 09:20 AM PST

Motorola Solutions Inc. (MSI), a leading communications equipment manufacturer, declared excellent fourth quarter 2011 financial results, beating both the top and bottom line estimates. The solid performance was mainly on the back of solid demand across both Government and Enterprise segments.
Fourth Quarter Highlights
Quarterly GAAP net income from continuing operation was $184 million or 54 cents per share compared with $292 million or 49 cents per share in the prior-year quarter. However, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Peet’s

Posted: 13 Feb 2012 09:05 AM PST

Peet’s Coffee & Tea Inc. (NASDAQ:PEET), one of the world's leading specialty coffee roaster and marketer of fresh roasted whole bean coffee, is scheduled to report its fourth-quarter and fiscal year 2011 financial results on February 15, 2012.
The current Zacks Consensus Estimate for the fourth quarter is pegged at 43 cents a share, while it is $1.50 per share for the fiscal year 2011. The Zacks Consensus Estimate projects revenues for the quarter to be $103 million, while $373 million for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Picture: Improving With Age

Posted: 13 Feb 2012 08:55 AM PST

The Earnings Picture

While we started out the fourth quarter earnings season on a very weak note, the picture has improved as the season has worn on.  I would not want to suggest that this has been a good earnings season, but it is not the ugly one it appeared to be just a few weeks ago.  

So far, 357, or 71.4% of the S&P 500 firms have reported.  However, assuming that all the remaining firms report exactly in line with expectations, then 81.9% of all earnings are in. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Marriott Pumps Up Buyback Activity

Posted: 13 Feb 2012 08:50 AM PST

Marriott International Inc. (NYSE:MAR) recently approved a $35 million extension of its stock repurchase program, thereby maintaining the trend of returning wealth to its shareholders from time to time, depending on market conditions. This program authorizes the company to repurchase up to $40 million of its common stock.
Looking back, the company repurchased 43.4 million shares for $1.4 billion in 2011. Management expects to generate meaningful amounts of free cash flow, going forward. In the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Boeing To Compensate For 787 Delays

Posted: 13 Feb 2012 08:35 AM PST

The world's largest manufacturer of commercial jetliners and military aerospace products The Boeing Company (NYSE:BA) is under pressure to compensate Air India with $1 billion. Air India demands the sum for Boeing's delay in delivery of the 787 for more than three years.
Air India had ordered for 27 787 way back in January 2006, of which the first aircraft is expected to be delivered later in February. Earlier, in August 2010, Air India had demanded $840 million from Boeing for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CACI Earns ONE Contract

Posted: 13 Feb 2012 08:21 AM PST

Recently announced, CACI International Inc. (CACI) received a $476 million five-year (one base and four option years) contract to provide IT and telecommunications solutions as per the U.S. Government Omnibus Network Enterprise (USG ONE) deal to federal agencies including the Department of Defense (DOD).
As per this contract, the company will cater to alleviating the costs incurred at U.S. federal agencies along with ameliorating and technologically advancing their communication … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Tests 38.2% Retracement Level

Posted: 13 Feb 2012 08:18 AM PST

The 38.2% of the move up from the February 6th low come in at the 1.3208. The market is testing this level currently.  If the price holds, there could be a intraday bottom in place and a corrective rotation higher. A break below would next target the 200 hour MA at the 1.3188 level. Look for some profit taking against the level on the first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDJPY Pushes Toward The 100 Hour MA

Posted: 13 Feb 2012 08:18 AM PST

More On A New, Emerging World Energy Map

Posted: 13 Feb 2012 08:11 AM PST

With America’s abundant supply of natural gas selling at close to historic-low levels, it seems natural that the next step would be to export it, and that’s exactly what’s starting to happen.  A Wall Street Journal article today features one natural and growing market for natural gas, Japan, which has almost doubled its imports of natural gas since 1995, and by 12% in the last year.  Following last year’s earthquake and tsunami, Japan has closed 51 of its 54 nuclear and electric … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Abercrombie & Fitch

Posted: 13 Feb 2012 08:05 AM PST

Casual apparel retailer, Abercrombie & Fitch Co. (NYSE:ANF), is scheduled to release its fourth-quarter and full-year 2011 results on Wednesday, February 15, 2012.
The current Zacks Consensus earnings per share (EPS) estimate for the fourth quarter is $1.12, representing a decline of 18.94% from last year. The Zacks Consensus Estimate for full-year 2011 stands at $2.36 per share, reflecting a year-over-year growth of 15.05%.
In the surprises context, Abercrombie's third quarter had witnessed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Elvis Has Left The Building, Again

Posted: 13 Feb 2012 08:01 AM PST

Last Saturday night at the Grapevine Opry, I saw the last performance of the best Elvis I've ever seen, not having seen the original in the flesh. But, having seen the original's 1968 Comeback Special many times, and having heard its sound track on an airplane's system between Soule and Toyko, and having been to Graceland three times, and having listen to his music for more decades than that, I'm here to tell you that there is little to no difference. Nathan Belt, more than all the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alnylam Delivers In-Line Numbers

Posted: 13 Feb 2012 08:00 AM PST

Alnylam Pharmaceuticals Inc.'s (NASDAQ:ALNY) fourth quarter 2011 loss of 33 cents per share was in line with the Zacks Consensus Estimate. The loss was however wider than the year-ago loss of 16 cents per share. Lower revenues and higher general and administrative (G&A) expenses led to widening losses.
Revenues for the reported quarter fell 3.3% from the prior year to $20.5 million. Revenues were almost in line with the Zacks Consensus Estimate of $21 million.
In 2011, Alnylam reported total … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Clouds In Europe, Sunnier At Home

Posted: 13 Feb 2012 08:00 AM PST

Stocks will likely take a breather today, reversing Friday's losses, following the weekend ratification of last week's austerity deal by the Greek parliament. Political leaders overlooked the violent protests on the street and nationwide elections in the coming days to endorse the fresh dose of tough medicine for Greece, whose economy is deeply in recessionary territory.
This paves the way for Greece getting a fresh bailout from the troika of EU, ECB, and the IMF. A meeting of Euro-zone … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Activision Blizzard, Inc, Overseas Shipholding Group

Posted: 13 Feb 2012 08:00 AM PST

    Activision Blizzard, Inc's (NASDAQ:ATVI) fiscal fourth quarter 2011 earnings came in at $0.59 per share (including stock based compensation but excluding one time items), ahead of the Zacks Consensus Estimate of $0.55

    Shares of LinkedIn Corporation (LNKD) jumped 17.8% after it reported fourth quarter 2011 adjusted net earnings per share of $0.07, well ahead of the Zacks Consensus Estimate of a loss of a penny

    Following GSV Capital … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ruth’s Hospitality Beats By A Penny

Posted: 13 Feb 2012 08:00 AM PST

One of the leading upscale dining operators, Ruth's Hospitality Group Inc. (NASDAQ:RUTH) reported fourth quarter 2011 adjusted earnings of 11 cents, surpassing the Zacks Consensus Estimate by a penny as well as the prior-year quarter earnings by a couple of cents. The better-than-expected results were driven by higher traffic and comps growth.
Total revenue enhanced 7.1% year over year to $99.6 million. Company-owned restaurant sales climbed 6.8% to $95.4 million, while franchise income jumped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shire Beats Estimates All The Way

Posted: 13 Feb 2012 08:00 AM PST

Shire plc's (NASDAQ:SHPGY) fourth quarter 2011 earnings (excluding special items) of $1.51 per American Depository Share ("ADS"), were 47% above the year-ago earnings. The year-over-year increase was attributed to higher operating income partially offset by a higher tax rate for the reported quarter. The Zacks Consensus Estimate was $1.37 per share.
Quarter in Detail
Quarterly revenues increased 23% to $1,142 million, well above the Zacks Consensus Estimate of $1,126 million. Higher product … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BCE Misses 4Q Estimates

Posted: 13 Feb 2012 08:00 AM PST

Canada's largest telephone operator BCE Inc. (NYSE:BCE) has reported fourth quarter 2011 adjusted earnings per share of 62 Canadian cents  (61 cents per ADS), which came below the Zacks Consensus Estimate of 65 cents.
Adjusted earnings climbed 5.1% from 59 Canadian cents in the year-ago quarter attributable to higher EBITDA growth along with lower pension costs and gains on derivative contracts, partly offset by higher depreciation expense and increased interest expense related to the CTV … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Manulife Posts Quarterly Loss

Posted: 13 Feb 2012 08:00 AM PST

Manulife Financial Corporation (MFC) reported fourth-quarter 2011 loss of 5 cents per share, compared with earnings of $1.00 per share in year-ago quarter. Net loss came in at $67.4 (C$69) million, compared with net income of $1,772 (C$1,796) million in fourth-quarter 2010.
The quarter under review included $149.5 (C$153) million related to the direct impact of equity markets and interest rates, $272.6 (C$279) million of investment related gains, net credit loss of $31.3 (C$32) million, due to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Avis Budget

Posted: 13 Feb 2012 08:00 AM PST

Avis Budget Group (NYSE:CAR), a leading provider of vehicle rental services, is scheduled to report its fourth-quarter 2011 financial results after the market closes on February 15, 2012. The current Zacks Consensus Estimate for the quarter is 6 cents per share. For the quarter under review, revenue is expected to be $1,676 million, according to the Zacks Consensus Estimate.
Third-quarter 2011, a synopsis
Avis Budget posted third-quarter 2011 net income of $82.0 million compared with a net income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Skechers

Posted: 13 Feb 2012 08:00 AM PST

Skechers USA Inc. (NYSE:SKX), the designer, marketer and distributor of footwear, is slated to report its fourth-quarter 2011 financial results on February 15, 2012. The current Zacks Consensus Estimate for the quarter reflects a loss of 23 cents per share, representing a sharp decline from earnings of 7 cents in the prior-year quarter. Revenue, as per the Zacks Consensus Estimate, is $324 million.
Third-Quarter Synopsis
Skechers delivered earnings of 7 cents a share, down approximately 90% from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Surges After Greece Approves Austerity Bill

Posted: 13 Feb 2012 08:00 AM PST

02/13/12 Risk appetite has returned to start the trading week as Greece’s approval of austerity measures helped investors seek out higher-yielding, riskier … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Flirts With $100

Posted: 13 Feb 2012 02:00 AM PST

02/13/12 Crude oil prices were in rally mode this morning, teasing its way towards $100 a barrel, this after the passage of austerity measures by Greece sent the euro higher while also boosting risk … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Off To A Strong Start

Posted: 13 Feb 2012 01:15 AM PST

02/13/12 Global stocks kicked off the new trading week in an impressive fashion as the approval of austerity measures by Greece’s parliament sent equities into positive … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

There’s Value In Russia’s Future

Posted: 12 Feb 2012 10:00 PM PST

As Americans ponder the merits of Obama vs. Gingrich, Paul, Romney or Santorum, Russia will be electing its own president on March 4.
Perhaps we should say "re-electing" since it's almost certain former president and current prime minster Vladimir Putin will be elected. While protests and vocal opposition likely won't prevent Putin's presidential return, they have forced some interesting changes to the political climate and we've observed some positive changes in Russia's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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