Tuesday, March 27, 2012

DailyMarkets.com - Encouraging Data On Amgen Candidate

DailyMarkets.com - Encouraging Data On Amgen Candidate

Encouraging Data On Amgen Candidate

Posted: 27 Mar 2012 09:26 AM PDT

Amgen (NASDAQ:AMGN) recently presented positive data on its hypercholesterolemia candidate, AMG145. Results were presented at the American College of Cardiology Scientific Session from a phase Ib study that was conducted in high cholesterol patients taking statins.
Results in Detail
AMG 145, a fully human monoclonal antibody, is a PCSK9 inhibitor. The phase Ib study (n=51) was conducted to evaluate the safety, efficacy and tolerability of AMG145 compared to placebo. Results showed that patients on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Can Bonds Hold Without Fed Support?

Posted: 27 Mar 2012 09:24 AM PDT

Tuesday, March 27, 2012
Bonds have been rocked by recent statements from the Fed, indicating the central bank will not be a large player in the Bond market. The absence of the Fed as a buyer and a weaker Dollar brought on by the Fed’s aggressive policies could also drive away any remaining long specs from the market. Technically, many traders appear to be trying to figure out whether prices are going to trade sideways, between 135 and 140, or if a new downside breakout is on the horizon. Some … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bullish Signs From The March 2012 Sector Rotation Model

Posted: 27 Mar 2012 09:14 AM PDT

What is the broader Sector Rotation Model saying about the current rally and state of the market?
Good things actually.
Let's take a moment to view the current Sector Rotation Performance from three perspectives, starting with Absolute Performance so far in 2012:

To recap, the Sector Rotation Model breaks down the broader market into nine sectors as represented above with the tradable AMEX Sector SPDRs (XLK for Technology for example).
These nine sectors are divided into two broad … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Are We On The Verge Of A Major Rally In Precious Metals And Natural Resources?

Posted: 27 Mar 2012 09:13 AM PDT

We are on the verge of a major rally in gold.  Gold's retreat to the 200 day moving average has provided long term buy and hold investors another excellent discounted buying opportunity.  Every time gold has retreated to this line it has found support as is the case right now.  We had a recent pullback a few weeks ago as gold and silver were about to move.  At that time we believed that this pullback would be short-lived.  This week we are seeing a major … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Talisman Makes Iraq Oil Discovery

Posted: 27 Mar 2012 09:07 AM PDT

Canadian energy explorer Talisman Energy Inc. (NYSE:TLM)  announced a major oil discovery at one of its wells in the Kurdistan region of northern Iraq. The Kurdamir-2 find – that was tested for a portion of an upper zone – showed obvious indications of presence of light oil, apart from natural gas and gas condensate. The exploration well was reported to flow at unstimulated rates of 7.3 million cubic feet per day (MMcf/d) of natural gas and 950 barrels per day of oil/condensate, without … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Bernanke Put” Has Effect

Posted: 27 Mar 2012 09:06 AM PDT

Ben Bernanke's favorable comments from Monday will likely linger in today's trading action as well, even if the consumer confidence and home price data on deck for release a little later turn to be less than exciting. Monday's market gains reconfirm that the ‘Bernanke Put’ is a fact of life.
The Fed Chairman clearly indicated the need for a supportive monetary policy stance to help the labor market heal. He took sides in the ongoing 'cyclical vs. structural' causes of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AmEx Deploys Capital Robustly

Posted: 27 Mar 2012 09:06 AM PDT

Basking in the glory of the excellent stress test result, yesterday the board of American Express Co. (NYSE:AXP) (AmEx) announced an 11% dividend hike and robust stock repurchases in an attempt to return excess wealth to investors.
The central bank of the US released its annual capital stress test earlier this month, which put 19 large banks under the scanner to test the resistance quality of the banking bellwethers amidst an economic shock. AmEx emerged with flying colours, notching a seat among … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Arena Pharmaceuticals, AudioCodes Ltd., American Express Company, Lions Gate Entertainment Corporation

Posted: 27 Mar 2012 09:06 AM PDT

    Following Arena Pharmaceuticals, Inc.'s (NASDAQ:ARNA) obesity drug receiving acceptance from European regulators for review, the company's stocks shot up by 24.9%

    For the first time since November 2007, American Express Company (NYSE:AXP) announced a dividend hike and raised the quarterly dividend by $0.02 to $0.20

    Lower-than-estimated revenues in the first quarter led AudioCodes Ltd. (NASDAQ:AUDC) to lower its 2012 preliminary revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Activision’s WoW To Go Mobile

Posted: 27 Mar 2012 09:06 AM PDT

Activision Blizzard Inc. (NASDAQ:ATVI) is toying with the idea to bring its most successful and widely-played massively multiplayer role paying game (MMO), World of Warcraft (WoW), to mobile devices, according to Forbes. Though its subscription base dwindled to 10.2 million in December 2011 from over 12 million in December 2010, yet the game boasts of one of the highest subscriber bases among the present generation of MMOs.
The World of Warcraft has been competing with Electronic Arts Inc.'s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Glaxo Lured By Tax Incentives In UK

Posted: 27 Mar 2012 09:06 AM PDT

GlaxoSmithKline (NYSE:GSK) recently announced that it will invest more than £500 million on manufacturing units in the UK. Glaxo aims to increase the production of key materials for its pharmaceutical and vaccines segment. The initiatives are expected to create approximately 1,000 new jobs.
Glaxo's investment decision follows the UK government's budgetary announcement regarding the implementation of a patent box. A patent box enables companies to enjoy a lower tax rate on income generated … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lincoln Vends $300M Notes

Posted: 27 Mar 2012 09:06 AM PDT

Yesterday, Lincoln National Corp. (NYSE:LNC) offered of senior unsecured notes worth $300 million, according to Thomson Reuters.
Accordingly, these long-term notes are issued at a price of $100.00 and will mature on March 15, 2022.  These callable ten-year fixed rate notes are projected to have a spread of 195 basis points (bps) over the US Treasuries, while bearing a coupon rate of 4.2% and yield rate of 4.2%. Interest on $300 million notes will be payable semi-annually, in equal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Iron Mountain Mulls Asset Sale

Posted: 27 Mar 2012 09:06 AM PDT

Consistent with its strategic overhauling policy, announced in April 2011, business document storage and records management provider, Iron Mountain Inc. (IRM) may sell its Italian business unit, according to a recent Bloomberg feed.
As per its comprehensive strategic plan, Iron Mountain has taken a number of strategic initiatives to improve its profitability over the last year. This included a review of underperforming assets and business units and gradual divestiture of these units. In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lennar Rebounds; Crashes Estimates

Posted: 27 Mar 2012 09:06 AM PDT

Lennar Corporation (LEN) reported net earnings of $15.0 million or 8 cents per share in the first quarter of fiscal 2012 ended February 29, 2012, compared to a loss of $10.1 million or 5 cents per share in the year-ago quarter. Reported earnings surpassed the Zacks Consensus Estimate by 60%.
Total revenue in the quarter climbed 30% year over year to $724.85 million, on the back of a record 33% increase in orders during the quarter. The boom in the order was due to a stable market, backed by low … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AIG Arm To Refinance Loan

Posted: 27 Mar 2012 09:06 AM PDT

International Lease Finance Corporation ("ILFC"), the aircraft leasing wing of American International Group (NYSE:AIG), recently announced its plan of raising a senior secured term loan worth $550 million. The new term loan will replace the company's existing term loan worth the same and will also bear the same maturity period.
ILFC intends to secure the new loan with a first priority perfected lien on the equity of some of its subsidiaries. We believe that the refinancing is aimed at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GOL Posts Weak 4Q

Posted: 27 Mar 2012 09:06 AM PDT

On March 26, 2012, GOL Linhas A (GOL) reported financial results for the fourth quarter and fiscal 2011. Net income, in the quarter, was recorded at R$54.3 million (US$30.3 million), down 59% compared with a net income of R$132.2 million (US$78.2 million) in the year-ago quarter.
The loss was primarily attributable to the huge net expense, incurred from the depreciation of the Brazilian currency against US dollar. Such foreign exchange variation had a depressing effect on the company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ADTRAN Downgraded On Lower Guidance

Posted: 27 Mar 2012 09:06 AM PDT

We have downgraded our recommendation on ADTRAN Inc. (NASDAQ:ADTN) to Underperform from Neutral given the company's lower projection in terms of revenue, net income and earnings.
In the near term, ADTRAN is expected to deliver lackluster sales given the weak spending pattern of customers that will in turn weigh on its overall revenue. Lower carrier infrastructure spending by Tier 1 carriers like Verizon and AT&T resulted in reduced revenue in the Optical Access in the fourth quarter and we … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

McCormick Beats; Affirms Outlook

Posted: 27 Mar 2012 09:06 AM PDT

McCormick & Co. Inc. (NYSE:MKC) delivered better-than-expected first quarter 2012 earnings of 55 cents per share, surpassing the Zacks Consensus Estimate by 2 cents. The first quarter results were also ahead of the company's guidance of 51 to 54 cents per share.
The results were driven by robust sales and cost management under the company's Comprehensive Continuous Improvement (CCI) program. Product innovation and investments in brand marketing also boosted the company's earnings growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Arena Pharma Drug Under EU Review

Posted: 27 Mar 2012 09:06 AM PDT

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) recently announced that the European Medicines Agency (EMA) accepted its marketing authorization application (MAA) for lorcaserin for review. The application was filed earlier in the month. The news had a positive impact on Arena Pharma's shares.
We note that  Arena Pharma and partner Eisai Inc. are looking to get lorcaserin approved for weight management, including weight loss and its maintenance, in obese (Body Mass Index, or BMI, >30) or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sh*T Bureaucrats Say

Posted: 27 Mar 2012 08:36 AM PDT

NPR: Kochs Vs. CATO

Posted: 27 Mar 2012 08:08 AM PDT

Libertarians say it’s like watching dear friends in an ugly divorce, as the billionaire Koch brothers try to take control of the highly regarded Cato Institute. The head of Cato says the Kochs are out to politicize the think tank. 

Listen to a 4-minute NPR segment here.

Related: Here’s a recent statement from David … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Turn Mixed After Rally

Posted: 27 Mar 2012 08:07 AM PDT

03/27/12 US equity averages traded mixed after a handful of data releases: March consumer confidence declined in March, S&P Case-Shiller dipped in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: A Refrigerator Magnet That Allows You To Order Pizza With One Touch

Posted: 27 Mar 2012 07:37 AM PDT

Ever wish you could magically order pizza with the press of a button? A pizzeria in Dubai has unveiled a new refrigerator magnet that actually orders pizza with one touch. Impulse eaters beware.

Watch video above and read more … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Little Changed Ahead Of Fresh Data

Posted: 27 Mar 2012 02:00 AM PDT

03/27/12 Oil prices were little changed for the second straight session Tuesday morning as uncertainty over Iran and upcoming US data left traders hesitant to take big … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Firms As Italy Sells Bonds, Bernanke Weakens Dollar

Posted: 27 Mar 2012 01:55 AM PDT

03/27/12 The euro rose to a new March high against the dollar in European trading Tuesday following a strong Italian government bond auction and after the previous day’s downbeat comments by the Fed Chairman Ben … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Higher Taxes = Tax Avoidance = Lower Revenues

Posted: 27 Mar 2012 06:35 AM PDT

From Robert Frank’s “Wealth Report” in the WSJ:

“Britain’s recent experiment with hiking taxes on the rich may have some lessons for the U.S.

To dig itself out of recession, Britain hiked its income-tax rate to 50% for those making more than £150,000 ($240,000). Proponents said the tax was needed to bring fairness to an economy, in which the rich were getting richer and not contributing enough to the cause. Critics said the tax would chase out the job creators.

As it turned out, the real … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Majors Consolidate Against U.S. Dollar; Japanese Yen Depreciation Ongoing

Posted: 27 Mar 2012 06:21 AM PDT

Fundamental Headlines
- Cyber crime Boosts Threat to Financial Services – Bloomberg
- EPA Said to Be Close to Limiting U.S. Greenhouse-Gas Emissions – Bloomberg
- U.S. Seeks Missile-Defense Shields for Asia, Mideast – Reuters
- Merkel Backs Boost to Bailout Fund – WSJ
- U.K. Seeks Probe into China Death – WSJ
European Session Summary
Higher yielding currencies and risk-correlated assets rallied took a small step backwards on Tuesday after posting solid gains each of the past two … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stock Futures Fall Ahead Of Home Price,Consumer Confidence Data

Posted: 27 Mar 2012 01:05 AM PDT

03/27/12 U.S. stock futures leaned to the downside Tuesday morning as investors awaited the release of home price and consumer confidence … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forbidden Technologies Sees Growing Recognition In Key Markets

Posted: 27 Mar 2012 02:40 AM PDT

Forbidden Technologies (LON:FBT), the AIM listed software company behind the development of the FORscene Cloud video platform, continued to make progress in key markets last year as recognition of its capabilities gathered momentum. Speaking to Stockopedia, Stephen Streater, Forbidden's chief executive, said new licensing deals, including one with internet video giant YouTube, had contributed to much higher levels of interest from prospective customers around the world.

Forbidden's sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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