Monday, March 5, 2012

DailyMarkets.com - Starbucks To Revamp European Biz

DailyMarkets.com - Starbucks To Revamp European Biz

Starbucks To Revamp European Biz

Posted: 05 Mar 2012 12:05 PM PST

Starbucks Corporation’s (NASDAQ:SBUX) Chief Executive Officer, Howard Schultz recently told The Financial Times that he plans to revive the company's sluggish business growth in Europe by enhancing its presence in the continent. The goal is to make the brand as popular in the currently economically challenged Europe as it is in Manhattan.
As part of this strategy, the company will increase its number of stores operating in the UK from 760 to 1,060 over the next five years. The company is also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Volcano Reaffirmed At Neutral

Posted: 05 Mar 2012 11:50 AM PST

We have reaffirmed our Neutral recommendation on Volcano Corporation (NASDAQ:VOLC) following its fourth-quarter 2011 results. The company's fourth quarter adjusted EPS of 14 cents exceeded the Zacks Consensus Estimate. While revenues increased 14% on the back of robust growth in its Medical segment, the Industrial segment did not recover from its declining trend due to lower spending in the telecommunication sector.
The San Diego, California-based company derives a major part of its revenues from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BIOLASE Posts Prelim Sales

Posted: 05 Mar 2012 11:35 AM PST

Leading dental laser maker BIOLASE Technology (NASDAQ:BLTI) recently announced preliminary sales data for fourth-quarter 2011. Based on preliminary review, the company expects revenues for the quarter to shoot up 35% year over year to roughly $13.1 million.
For the full year, the California-based company envisions revenues of roughly $48.8 million, an 86% year-over-year surge. BIOLASE noted that barring equipment revenues to Henry Schein (NASDAQ:HSIC), net sales for the fourth quarter is expected to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BP, PSC In $7.8B Settlement

Posted: 05 Mar 2012 11:20 AM PST

BP Plc (NYSE:BP) and Plaintiffs' Steering Committee (PSC) have reached an agreement of $7.8 billion, over the reimbursements to be made for the 2010 Gulf of Mexico oil spill.
The judge had earlier postponed the trial by a week and rescheduled it for March 5 to give BP and PSC more time to discuss and settle the matter. PSC embodies a group synchronizing the efforts of around 90 law firms on behalf of a condominium of owners, fishermen, hoteliers, restaurateurs and others damaged by the April 20, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Limited Brands Posts Higher Sales

Posted: 05 Mar 2012 11:06 AM PST

Limited Brands Inc. (NYSE:LTD), a specialty retailer of women's intimate and other apparel, beauty and personal care products, posted better-than-expected sales results for the four-week period ended February 25, 2012. The increase was boosted by healthy sales at its Victoria’s Secret Stores and Bath & Body Works.
February Sales
The owner of Victoria’s Secret Direct and La Senza chains has sustained its growth momentum. Limited Brands' comparable-store sales for February 2012 rose 8% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Statoil To Boost Output With Cat J

Posted: 05 Mar 2012 10:50 AM PST

Norwegian oil giant, Statoil ASA (NYSE:STO) is planning a new rig concept to enhance the recovery rate of the mature fields on the Norwegian continental shelf (NCS).
The company is set to launch a tender for a minimum of two rigs known as Category J, for drilling wells at North Sea fields such as Gullfaks, Mariner as well as Johan Sverdrup, which is set to come online in 2017. The new jackup rigs will be able to operate at water depths ranging from 70 meters to 150 meters and drill wells down to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Shutterfly-Kodak Deal Clicks

Posted: 05 Mar 2012 10:40 AM PST

Shutterfly Inc. (NASDAQ:SFLY) recently inked an agreement with Eastman Kodak Company to purchase certain assets of its Kodak Gallery online photo services business for $23.8 million. The agreement comprises the initial, stalking horse bid to maximize the value of assets as part of a bankruptcy court-approved auction process.
The Kodak Gallery allows users to store and share their photos online and create custom printed photo books, cards and albums. The service, originally called Ofoto, was acquired … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Guilfoyle: “Silver Lining…China Expressed Interest In Easing”

Posted: 05 Mar 2012 10:40 AM PST

03/05/12 Meridian Equity Partners’ Stephen Guilfoyle discusses the decline in global equities on growth concerns, and expectations for this week’s central bank rate decisions and US jobs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank Of Dominican Republic Holds Rate At 6.75%

Posted: 05 Mar 2012 10:37 AM PST

The Central Bank of the Dominican Republic kept its Monetary Policy (Overnight) Rate unchanged at 6.75%, and held the Lombard Rate at 9.00%. The Bank said: “Domestically, economic activity and internal  demand are moving as predicted by the latest Monetary Policy Report. Credit to the private sector is expanding at a rate similar to that corresponding to year-end 2011, while inflation expectations remain close to the 2012 target.”

The Bank also held rates unchanged at its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow AgroSciences Sells European Unit

Posted: 05 Mar 2012 10:25 AM PST

The Dow Chemical Company's (NYSE:DOW) wholly owned subsidiary, Dow AgroSciences LLC, divested its loss making European Dithane fungicide business to Indofil Industries Ltd. of Mumbai, India for an undisclosed amount.
As per the agreement, all the rights and trademarks of Dithane products in Europe, have been sold to Indofil. However, the agreement does not include other parts of the Dow AgroSciences' Dithane business, where it has a competitive advantage.
Indofil, a K.K.Modi group, specializes … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New UAL Faces System Issues

Posted: 05 Mar 2012 10:05 AM PST

The integration process of United Continental Holdings Inc. (UAL) was finally over yesterday, after the passenger services for both United and Continental were combined. United Continental implemented a single loyalty program, Mileage Plus, which was the final and key milestone in the integration process.
United Continental Holdings was formed in October 2010 by the merger of Continental Airlines and United Airlines and since then the companies were operating as two separate entities. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Finishing Touches On Earnings Season

Posted: 05 Mar 2012 09:55 AM PST

Earnings Preview 3/2/12

Earnings season is just about over.  While there will be 273 firms reporting, only three of them will be members of the S&P 500.

Firms reporting this week include Brown Foreman (NYSE:HRB) and Pall Corp. (NYSE:PLL).

It will also be a busy week for economic data.  Key reports include Durable Goods, Personal Income and Spending, The ISM Manufacturing Index, Auto Sales and the second look at fourth quarter GDP.

Monday

The ISM non-manufacturing or service index … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Air Products Set To Buy DuPont JV

Posted: 05 Mar 2012 09:55 AM PST

Air Products and Chemicals Inc. (NYSE:APD) announced its plan to acquire EI DuPont de Nemours & Co.'s (NYSE:DD) entire stake in its 50-50 joint venture (JV) with DuPont Air Products NanoMaterials LLC (DA NanoMaterials). The JV is engaged in manufacturing components for the semiconductor industry. The terms of the agreement are yet to be disclosed.  
Based in Tempe, Ariz. with regional headquarters in Taiwan, DA NanoMaterials makes specialty chemicals, called slurries. Slurries primarily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Eastman Upgraded To Outperform

Posted: 05 Mar 2012 09:55 AM PST

We are upgrading our recommendation on Eastman Chemical Company (NYSE:EMN) to Outperform from Neutral based on its fourth-quarter 2011 results.
Eastman Chemical reported earnings of 71 cents per share in fourth-quarter 2011 compared with 70 cents per share a year earlier.
Revenues in the quarter climbed 18% year over year to $1.7 billion, driven by increased selling prices and higher sales volumes. Operating earnings in the quarter increased to $163 million from $161 million in the fourth quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CME Signs MoU With Bank Of China

Posted: 05 Mar 2012 09:27 AM PST

Last week, CME Group Inc. (NASDAQ:CME) and Bank of China signed a Memorandum of Understanding (MoU) to look at possible business collaboration opportunities, particularly in commodities futures and options trading. Additionally, the two institutions will help each other through investor education, employees training and product marketing.
Consequently, CME group will train the employees of Bank of China's subsidiary – BOCI Commodities & Futures Limited ("BOCI"). Additionally, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Sector Bull Market Takes A Breather

Posted: 05 Mar 2012 09:24 AM PST

March, March 5, 2012
Near-term Oil prices look a bit overbought, with a correction to the 20-day moving average near the 104.00 area basis the May futures a potential target. However, the longer-term trend is still supportive for Oil prices, and it may be difficult for prices to correct sharply unless we see a global economic slowdown start to take hold. With major support seen around the 95.00 area, some bullish traders may perhaps wish to use any short-term price weakness to explore selling … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NYSE Liffe US Launches Mini Metal Options

Posted: 05 Mar 2012 09:20 AM PST

03/05/12 Jennifer Ropiak, SVP of precious metals marketing at NYSE Liffe US, talks about the recent launch of mini-sized gold and mini-sized silver options on the US futures exchange of NYSE … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Underwater Mortgages Surge In 4Q

Posted: 05 Mar 2012 09:16 AM PST

Due to the ongoing fall in home prices across the country and the slower foreclosure activities during late 2011, the number of homeowners who are underwater is continuously rising. Last week,a data released by CoreLogic Inc. (CLGX), a leading provider of information, analytics and business services, shows that underwater mortgages or negative equity rose to its highest level since 2009, when the company started tracking the data.
According to CoreLogic report, nearly 22.8% or 11.1 million of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Comcast Keeps Neutral Rec

Posted: 05 Mar 2012 09:16 AM PST

Comcast Corp. (NASDAQ:CMCSA) lately reported excellent financial results in the fourth quarter of 2011, easily beating the Zacks Consensus Estimates. While the company's Cable Communication segment continue to beat market expectations, NBC Universal has started providing synergies. Comcast's video subscriber churn became extremely low in the previous quarter, which was the most important news.
Comcast has completed its major technical innovations, such as DOCSIS 3.0, all digital networks, and a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apple Vs Samsung: War Continues

Posted: 05 Mar 2012 09:16 AM PST

Apple Inc. (NASDAQ:AAPL) and Samsung's court battles are nothing new. Both the companies have been filing patent infringement cases against each other in almost every continent in which they are present. In the latest development, two patent infringement cases brought on by Apple and Samsung against each other were dismissed by a regional court in Mannheim, Germany.
Apple's claim that Samsung has infringed its mobile devices' 'slide-to-unlock technology' was dismissed by the German court. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Big Lots, Shutterfly, Sara Lee Corporation

Posted: 05 Mar 2012 09:16 AM PST

    Consumer-review website, YELP INC. (YELP) debuted on the Street and gained 63.9% to settle at $24.58 a share

    Shares of Shutterfly, Inc. (NASDAQ:SFLY) jumped 16.5% after it agreed to takeover Kodak's online business

    Sara Lee Corporation (NYSE:SLE) expects to spin off the coffee and tea business by June end and will eventually pay a dividend of $3 per share

    Big Lots, Inc.'s (NYSE:BIG) fourth-quarter 2011 earnings per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kirk’s 4Q Comp Sales Rises

Posted: 05 Mar 2012 09:16 AM PST

Same-store sales at Kirkland's Inc. (NASDAQ:KIRK) rebounded in the fourth quarter 2011 as it went up 1.4% for the 13 weeks ended January 28, 2012, compared to a decline of 7.9% experienced in the previous year. However, on a year-to-date basis, same-store sales went down 4.0% compared with a 0.5% decrease a year ago.
E-Commerce, which is being considered as a base for same store sales since December 2011, contributed 80 basis points to the overall same store sales for the fourth quarter.
Net sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Week Of Appetizers Before Friday’s Main Course

Posted: 05 Mar 2012 09:16 AM PST

Economic reports this week, with a focus on the labor market, have the potential to push stocks to new highs. A positive surprise for the February non-farm payroll report coming out this Friday — which would be the third strong monthly jobs report in a row — would most likely serve as the catalyst to move stocks to new highs. We will get a preview of the Friday government jobs report through the ADP report on Wednesday.

On the docket today is the February non-manufacturing ISM survey coming … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Biogen Seeks Approval For BG-12

Posted: 05 Mar 2012 09:16 AM PST

Biogen Idec (NASDAQ:BIIB) recently announced the submission of a new drug application (NDA) for its oral multiple sclerosis candidate, BG-12. The NDA was based on data from the phase III DEFINE and CONFIRM studies which showed that treatment with BG-12 led to a significant reduction in disease activity in multiple sclerosis patients. Moreover, the candidate had a favorable safety and tolerability profile.
Biogen will be filing for EU approval as well shortly. A response regarding the acceptance of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sara Lee To Split By June

Posted: 05 Mar 2012 09:16 AM PST

Sara Lee Corporation (NYSE:SLE) recently announced that its widely awaited spin-off of the international Coffee and Tea business will be completed by the end of June 2012. Sara Lee had revealed plans to split the company into two publicly-traded companies in January this year: an international coffee and tea business and a North American retail, foodservice and specialty meats business.
Post spin-off, the international Coffee and Tea business will be domiciled in the Netherlands and will move its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EDR Forms JV With Concord Eastridge

Posted: 05 Mar 2012 09:16 AM PST

Education Realty Trust (EDR) recently announced that it has entered into a joint venture (JV)  with Concord Eastridge to develop, own and manage a mixed-use collegiate housing community worth $52 million in Phoenix, Arizona. This community is located in close proximity to the Phoenix Biomedical Campus, which includes the University Of Arizona School Of Medicine, and three blocks of the Arizona State University downtown campus in Phoenix.
This community will jointly be owned by both the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Petrobras Hits Oil In Campos Basin

Posted: 05 Mar 2012 09:16 AM PST

Brazilian oil giant Petroleo Brasileiro S.A. or Petrobras (NYSE:PBR) announced the discovery of hydrocarbon accumulation in the pre-salt layer in block BM-C-33, south of Campos Basin.
Located about 121.2 miles from the coast of Rio de Janeiro State, the discovery was made in the well – informally known as Pao de Acucar –– at a water depth of 9,186.4 feet.
The well is estimated to hold a 1, 574.8 feet thick hydrocarbon column, with approximately 1,148.3 feet of hydrocarbon-bearing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

China Snips Target, Reshapes Eco

Posted: 05 Mar 2012 09:16 AM PST

As the global economic recovery remains elusive, Chinaslashes its growth target to its lowest level since 2004, seeking to rebalance the economy and reshape development.
The Asian Powerhouse has recently set its gross domestic product growth target at 7.5% for 2012, cutting down the economic growth targets from the longstanding level of 8%. The Chinese Prime Minister Wen Jiabao announced this 'relatively cautious' target in a speech in parliament's annual meeting — a measure to relieve … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SNY Starts Delivering From New Unit

Posted: 05 Mar 2012 09:16 AM PST

Sanofi's (NYSE:SNY) subsidiary, Genzyme, announced that it has begun shipping Fabrazyme (agalsidase beta) from its recently approved Framingham manufacturing facility. The Framingham unit was approved in January 2012 by the US Food and Drug Administration (FDA) as well as the European Medicines Agency (EMA) for the production of Fabrazyme.
All patients in the US will be able to receive full doses of the treatment by March 2012. While in Europe, full dose of Fabrazyme will be initially available … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Harsco Renews Credit Facility

Posted: 05 Mar 2012 09:16 AM PST

Harsco Corporation (NYSE:HSC) recently announced that it has renewed an unsecured 5-year back-up credit facility of $525 million. This was done engaging a multi-national consortium of 14 banks, co-led by Citibank and Royal Bank of Scotland on account of the company's 3-year back-up facility which is due for expiry later this year.
Harsco has always been engaged in implementing important bank credit facilities and commercial paper programs to meet its periodic cash targets and requirements. As … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Saks’ February Sales Rise

Posted: 05 Mar 2012 09:16 AM PST

Luxury department store Saks Inc. (NYSE:SKS) has reported positive same-store sales and total sales for the month of February, benefiting from sales of women’s apparel, handbags and men’s accessories.
Saks' comparable store sales grew 6.6% in February, while total Saks sales for the four weeks ended February 25, 2012 climbed 6.0% to $207.9 million, as compared to the sales of $196.2 million for the four weeks ended February 26, 2011. The comparable sales growth for the month of February is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nordstrom February Comps Rise

Posted: 05 Mar 2012 09:16 AM PST

One of the leading fashion specialty retailers in the United States, Nordstrom Inc. (NYSE:JWN), once again reported a robust growth in its sales and comparable store sales (comps) for the four-week period ended February 25, 2012.
Nordstrom's February comparable store sales grew 10.2% compared with the four-week period ended February 26, 2011. The company's February 2012 comps benefited from the inclusion of a shoe clearance event, which was absent in corresponding year-ago period. The shift of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Conmed Initiates Dividend

Posted: 05 Mar 2012 09:16 AM PST

Good news for Conmed Corporation's (NASDAQ:CNMD) investors as its Board recently declared the commencement of a quarterly cash dividend. The move is based on the company's confidence in generating sustainable healthy profits and cash flows.
The New York-based medical technology company has announced an initial quarterly dividend of 15 cents a share.  Annualized, this equates to a payout of 60 cents, translating into a dividend yield of roughly 2.1% based on Conmed's current stock price. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Auto Sales Hit 4-Year High

Posted: 05 Mar 2012 09:16 AM PST

Light vehicle sales in February 2012 escalated 15.7% to a seasonally adjusted annual rate (SAAR) of 15.1 million units, despite higher gasoline price (up 10% to $3.74 per gallon) and lower spending on discounts and promotions by automakers (down 4.7% to $2,457 per vehicle). In fact, the average price of vehicles went up by a robust $1,943 from February last year, according to TrueCar.com.
The SAAR during the month was the highest achieved by the U.S. auto industry since 2008. The tailwinds that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Rebounds From Recent Lows Vs. Dollar

Posted: 05 Mar 2012 04:01 AM PST

03/05/12 The euro has rebounded this afternoon following three consecutive sessions of dollar gains following an improvement in eurozone retail sales … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Slide On Global Worries

Posted: 05 Mar 2012 08:10 AM PST

03/05/12 The major equity averages opened in negative territory, tracking global markets lower. ISM services gains more than expected, while factory orders fell … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Online Job Demand Improves In February And Supply/Demand Ratio Is Lowest Since Nov. 2008

Posted: 05 Mar 2012 07:33 AM PST

From today’s Conference Board report on online labor demand:

“Online advertised vacancies rose 39,900 in February to 4,423,300, according to the Help Wanted OnLine Data Series. The February rise follows gains in December 2011 of 125,600 and 61,300 in January (see top chart). The Supply/Demand rate stands at 2.9 unemployed for every vacancy (see bottom chart); however, nationally there are still 8.4 million more unemployed than advertised vacancies.

"In a positive sign the Supply/Demand … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fighting Debt With Debt

Posted: 05 Mar 2012 07:07 AM PST

My house is under water, for sure
My car is upside down, you bet
But I'm getting me a consolidation loan
And finally getting out of debt
Bob McTeer

Well, it may be hard to borrow your way out of debt, but sometimes it buys time, and time is money. One of the few major contributions to the European debt crisis is the ECB's lending to European banks. Long-term low-interest loans help the banks themselves as well as put them in a position to buy European sovereign debt, an excess of which is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Steady Above $107

Posted: 05 Mar 2012 02:00 AM PST

03/05/12 A euro rebound and improved EU retail sales data helped lift crude oil prices just a slight bit higher this morning just above $107 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Milton & Rose Friedman’s Legacy Of School Reform

Posted: 05 Mar 2012 06:49 AM PST

Stocks Fall On Economic Worries

Posted: 05 Mar 2012 01:15 AM PST

03/05/12 Worries over slowing economic growth in China were pushing global stocks lower Monday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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