Wednesday, March 28, 2012

DailyMarkets.com - Duke, Sumitomo Pair For Wind Energy

DailyMarkets.com - Duke, Sumitomo Pair For Wind Energy

Duke, Sumitomo Pair For Wind Energy

Posted: 28 Mar 2012 11:50 AM PDT

Duke Energy Renewables, a unit of  Duke Energy Corporation (NYSE:DUK), has entered into an agreement with Sumitomo Corporation of America ("SCOA"), a part of Tokyo-based Sumitomo Corporation. Per the deal, SCOA will become an equal equity partner in two large scale wind farms built by Duke Energy in Kansas. The deal is expected to close in April 2012.
Sumitomo Corporation of America will hold a 50.0% stake each in Cimarron II Windpower Project in Gray County and Ironwood Windpower Project … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lindsay Reports Sound 2Q

Posted: 28 Mar 2012 11:40 AM PDT

Lindsay Corporation (NYSE:LNN) reported EPS of $1.00 per share for the fiscal second quarter 2012; outperforming the Zacks Consensus Estimate of 83 cents. Results improved 12% from the year ago quarter of 89 cents per share.
Operational Update
Total revenue in the quarter increased 10% year over year to $132.1 million, beating the Zacks Consensus Estimate of $129 million. The improvement is attributed to a 28% rise in total irrigation equipment revenues, in turn driven by a 25% increase in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Johnson Control Buys Turkish Stake

Posted: 28 Mar 2012 11:40 AM PDT

Johnson Controls Inc. (NYSE:JCI) announced that it will acquire a 49% stake in Karat Guc Sistemleri Sanayi & Ticaret AS, a Turkey-based distributor of car-batteries. Karat sells batteries including Varta and Energizer brands, both owned by Johnson.
The company will acquire the stake through its two subsidiaries CRH Otomotiv Sanayi & Ticaret Ltd. and Johnson Controls Hybrid & Recycling GmbH.
Recently, the Wisconsin-based battery maker raised the prices of lead-acid batteries by 8% in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NextEra’s Upgrade Plans Approved

Posted: 28 Mar 2012 11:20 AM PDT

NextEra Energy, Inc.'s (NEE) subsidiary Florida Power & Light Company ("FP&L") got a nod from the Florida Public Service Commission ("FPSC") to modernize its Port Everglades Next Generation Energy Center in Fort Lauderdale to a high-efficiency natural gas-fired unit. The company had filed this petition in November 2011.
Per the program, FP&L will replace 4 of its existing oil and natural gas-generating units at the location and install a 1,277-megawatt ("MW") … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CINF Stays Neutral

Posted: 28 Mar 2012 11:10 AM PDT

We are maintaining our Neutral recommendation on the shares of Cincinnati Financial Corp. (NASDAQ:CINF), to reflect the gradually improving Commercial Lines, Personal Lines and Excess and Surplus Lines market. However, the continued low interest rate environment and the lack of a complete reversal in the insurance pricing cycle keeps us on the sidelines.
The Commercial Lines business is gradually witnessing improving market conditions after several years of significant competitive pressure. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Paychex Inc. (REVISED)

Posted: 28 Mar 2012 10:50 AM PDT

(Note: We have revised this article as the original erroneously referred to Insperity (NSP), formerly known as Administaff, as a competitor of Paychex.)
Paychex Inc. (NASDAQ:PAYX) is scheduled to announce its third quarter fiscal 2012 results on March 28 after the closing bell, and we notice no movement in analyst estimates at this point.
Second Quarter Overview
Paychex delivered modest second quarter 2012 results, with earnings of 39 cents per share beating the Zacks Consensus Estimate by a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Helmerich & Payne Still Neutral

Posted: 28 Mar 2012 10:50 AM PDT

We are maintaining our long-term Neutral recommendation on Helmerich & Payne Inc (NYSE:HP), owing to its superior and diversified drilling fleet, healthy financial profile and strong contract drilling backlog, partially offset by the unstable oil and gas fundamentals and operational hindrances.  
Tulsa, Oklahoma-based Helmerich & Payne is a major land and offshore drilling contractor in the western hemisphere, having the youngest and most efficient drilling fleet. The company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Bank Of Belarus Drops Rate 200bps To 36.00%

Posted: 28 Mar 2012 10:50 AM PDT

The National Bank of the Republic of Belarus cut its refinancing rate by 200 basis points to 36.00% from 38.00%; continuing to unwind a string of aggressive rate hikes.  The Bank said [translated]: “The National Bank carries out a gradual decline in interest rates against a background of strengthening positive trends in the economy and the monetary sphere. So, steadily slowing inflation, steady growth in ruble deposits of the population, improving the state of foreign … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GM Opel Seeks Plant Closure

Posted: 28 Mar 2012 10:35 AM PDT

The management of General Motors Company's (NYSE:GM) European arm, Opel, will present a business plan to its board today about closing two plants in order to trim the manufacturing capacity of the unit by 30%. So far, the management has been cutting production hours at the plants located in Bochum, Germany and Ellesmere Port in the UK.
However, GM has to deal with the heavy cost resulting from the plant closures. The severance package could go up to €500 million ($665 million). But on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nordstrom Expands Store Network

Posted: 28 Mar 2012 10:20 AM PDT

Nordstrom Inc. (NYSE:JWN), a leading fashion specialty retailer in the United States, announced the opening of two new Nordstrom Rack stores; one in Huntington, New York, and the other in Upland, California.
The New York store at the Huntington Shopping Center in the Long Island community of Huntington is expected to begin operation by fall 2012. The showroom spread out in an area of 36,000 square feet will offer both branded and private label merchandise. Other retailers doing business in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On American Capital

Posted: 28 Mar 2012 10:10 AM PDT

We have reaffirmed our Neutral recommendation on American Capital Ltd. (NASDAQ:ACAS), following a detailed analysis of the company's fundamentals in light of the current economic environment and the restructuring initiatives by the company.
American Capital's fourth-quarter 2011 operating income of 24 cents per share surpassed the Zacks Consensus Estimate by 4 cents. Moreover, the results outshined the prior-year quarter's earnings by 5 cents per share. The favorable result was due to a rise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Slammed As Inventories Jump

Posted: 28 Mar 2012 10:00 AM PDT

03/28/12 Oil was dropping more than 2% Wednesday afternoon following a big rise in U.S. crude stockpiles and talks of the United States and some European nations possibly tapping strategic reserves to deflate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Athabasca Uranium (UAX) Making Exploration Progress On Keefe Lake

Posted: 28 Mar 2012 09:58 AM PDT

Our subscribers have been informed that the ebbs and flows of nuclear power development are now morphing into a genesis for possibly turning Saskatchewan into "The New Saudi Arabia".  Prime Minister Harper has returned from China with a deal that brings almost $3 billion dollars worth of energy deals which includes uranium from Cameco's motherlode in the Athabasca Basin to satisfy China's insatiable hunger for its domestic expansion into the construction of nuclear power … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

‘Pipe’line Project In Jacobs’ Kitty

Posted: 28 Mar 2012 09:55 AM PDT

Time and again, Jacobs Engineering Group Inc. (NYSE:JEC) has retained its fundamental business strategy of winning client confidence, building long-term relationships and thus prospering across diverse markets, worldwide. The company moved a step ahead in this direction through one more contract win, this time associating itself with a major investment in Texas.
Jacobs recently announced that it has won a contract to provide Project Management Consulting (PMC) services for a new pipe rolling mill … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Just 10% To Previous All-time High

Posted: 28 Mar 2012 09:43 AM PDT

Conversation on CNBC the other morning centered on why so many financial managers, hedge funds, institutional and individual investors are skeptical about the sustainability of the market's strength.  The debate revolved around whether the skepticism results from the global situation, … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JPMorgan To Redeem $425M TruPS

Posted: 28 Mar 2012 09:35 AM PDT

On Tuesday, JPMorgan Chase & Co. (NYSE:JPM) has announced that it will redeem about $425 million in trust preferred securities (TruPS). These include the redemption of 17 million worth of 7.20% preferred securities, issued by BANK ONE Capital VI. Following the redemption, JPMorgan will be left with preferred securities with liquidation amount of $100 million.
JPMorgan stated that 7.20% of preferred securities will be redeemed at 100% of the liquidation amount. The redemption amount will also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Air Products To Feature PolarFit

Posted: 28 Mar 2012 09:20 AM PDT

Leading industrial-gas company Air Products and Chemicals Inc. (NYSE:APD) recently announced that it will showcase its PolarFit cryogenic solutions at the forthcoming NPE Expo scheduled to be held in Orlando, Florida, from April 1-5. PolarFit is used for grinding, deflashing, process cooling and inerting.
The company will feature, at the NPE Expo, the PolarFit ultra-fine-grinding mill, a versatile grinding system, which breaks hard-to-grind materials into smaller particle sizes in a cost-effective … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China Life Misses On Both Lines

Posted: 28 Mar 2012 09:10 AM PDT

China Life Insurance Co. Ltd. (NYSE:LFC) reported 2011 operating earnings of RMB0.65 per share (US$1.50 per ADR), witnessing a plunge of 45.4% from RMB1.19 per share (US$2.63 per ADR) in 2010.
Net income also declined 45.5% to RMB18.3 billion (US$2.83 billion) from RMB33.6 billion (US$4.96 billion) in the year-ago period.
China Life's net income reduced due to higher impairment losses rising as a result of poor capital market conditions in China. However, the company's efforts to improve the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Visualizing Sector Rotation Stock Performance

Posted: 28 Mar 2012 08:57 AM PDT

As a follow-up to yesterday's "Bullish Sector Rotation Model" post, let's take a moment to clarify how investors and traders can use top-level Sector Rotation themes to their advantage.
Traders and investors often use the model – or at least compare sector relative performance – to pinpoint trading or investing opportunities from the strongest stocks in the strongest sectors during bull/rally phases in the market.
The alternate strategy would be to locate the weakest stocks in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Saks Remains Neutral

Posted: 28 Mar 2012 08:55 AM PDT

We maintain a Neutral rating on Saks Incorporated (NYSE:SKS) following appraisal of the results of the fourth quarter and fiscal year ending January 28, 2012.
Saks posted better-than-expected earnings of 17 cents per share in the fourth-quarter ending January 28, 2012, which surpassed the Zacks Consensus Estimate by 3 cents and the prior-year earnings by 4 cents. The results were driven by a robust operating performance and strong focus on making targeted investments in areas such as Saks Direct, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Graco Gets FTC Approval

Posted: 28 Mar 2012 08:55 AM PDT

Graco, Inc. (NYSE:GGG) recently reached a consensus with the U.S. Federal Trade Commission (FTC) for the closing of its $650 million Illinois Tool Works Inc. (NYSE:ITW) finishing business acquisition. The acquisition is scheduled for closing on April 2, 2012.
The FTC had filed litigation against this acquisition proposal on December 15, 2011, on grounds of anti-competition which is expected to occur from the infusion of Liquid Finishing business to Graco. However, as per the recent agreement between … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Smucker Enters Chinese Markets

Posted: 28 Mar 2012 08:25 AM PDT

Heading for the Chinese market, The J.M. Smucker Company (NYSE:SJM) has announced the acquisition of a minority non-controlling stake in privately-owned Chinese oatmeal maker Guilin Seamild Biologic Technology Development Co. (popularly known as Seamild) for $35 million.
Seamild is headquartered in the Guangxi province of China, and sells oatmeal under the Seamild brand and retails throughout China. Further, the oatmeal maker runs two manufacturing facilities in southern China and is working on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Spectrum: A Wireless Game Changer

Posted: 28 Mar 2012 08:10 AM PDT

The present wireless market is ready for the incipient boom in the wireless data space with expanding broadband services. Data traffic is growing in leaps and bounds and has more than doubled over the last three years.
As a result, U.S. carriers are finding it increasingly difficult to manage rising mobile data traffic. The situation becomes even worse with the growing popularity of Apple Inc.'s (NASDAQ:AAPL) iPhone and Google Inc.'s (NASDAQ:GOOG) Android smartphones. Stiff competitive pressure and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apache’s Egyptian Drilling Success

Posted: 28 Mar 2012 08:10 AM PDT

Following the approval of seven new development leases in the Faghur Basin, Apache Corporation (NYSE:APA) has further boosted its production in Egypt’s Western Desert.
Apache currently drills approximately 203,000 barrels of oil and produces 880 million cubic feet (mmcf) of gas per day in Egypt, about 3% higher than the 2011 level. With the addition of the new leases, the company's production increased by 5,200 barrels per day in the oil play.
Per the terms of production-sharing agreements with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Turn Lower, BNNY Soars +70%

Posted: 28 Mar 2012 08:10 AM PDT

03/28/12 US stocks pared gains, to turn lower. Durable goods orders missed estimates for February. Annie’s shares rallied over 70% as the organic and natural food company marked its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Yen Advances Against Dollar Into Fiscal Year End

Posted: 28 Mar 2012 07:00 AM PDT

03/28/12 The yen rose against the dollar Wednesday, lifted by seasonal flows from Japanese exporters buying at the end of their financial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Futures Imply Flat Open After Durable Goods Data

Posted: 28 Mar 2012 01:00 AM PDT

03/28/12 Stock index futures pointed to a flat open on Wednesday, cutting earlier gains after a weaker-than-expected reading on durable goods … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
at

No comments:

Post a Comment