Monday, April 9, 2012

DailyMarkets.com - Change In Direction

DailyMarkets.com - Change In Direction

Change In Direction

Posted: 09 Apr 2012 05:06 PM PDT

More evidence of the U.S. nonrecovery? A growing number of Mexicans believe the opportunities are better on their side of the border.
“Home Again in Mexico: Illegal Immigration Hits Net Zero” (Christian Science Monitor)
Tiny Tamaula is the new face of rural Mexico: Villagers are home again as the illegal immigration boom drops to net zero
One million Mexicans said they returned from the US between 2005 and 2010, according to a new dem-ographic study of Mexican census data. That’s three times … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Grainger To Buy Brazilian AnFexio

Posted: 09 Apr 2012 04:00 PM PDT

W.W. Grainger Inc. (NYSE:GWW), in line with its expansion plans in Latin America, is buying the Brazilian supply company AnFreixo SA from Brazilian industrial conglomerate Votorantim Group.
AnFreixo is a leading distributor of maintenance, repair and operating (MRO) supplies to more than 2,000 customers in Brazil.  It generated sales of approximately $37 million in 2011. A major portion of the sales were to its parent company, Votorantim. Following the acquisition, Grainger will continue to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Facebook Hits ‘Like’ Button For Instagram

Posted: 09 Apr 2012 03:50 PM PDT

04/09/12 Facebook will acquire Instagram for a deal worth $1 billion in cash and shares. The deal for the photo sharing app company is expected to close later this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BioScrip Stays Neutral

Posted: 09 Apr 2012 03:40 PM PDT

We maintain our Neutral recommendation on BioScrip Inc. (NASDAQ:BIOS) with a target price of $7.25.
BioScrip reported EPS of 12 cents in the fourth quarter of fiscal 2011, much better than the year-ago quarter loss of $1.25 per share. Reported results also surpassed the Zacks Consensus Estimate of 9 cents. However, the company recorded a non-cash charge of $54 million related to a deferred tax asset reserve in the year-ago quarter.
After delivering disappointing results in the last few quarters, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Dynamics Wins Contract

Posted: 09 Apr 2012 03:40 PM PDT

General Dynamics Armament and Technical Products, a unit of General Dynamics (NYSE:GD) received a contract worth $7.8 million from the Naval Air Systems Command. Per the contract General Dynamics's unit will be entrusted to manufacture more than twenty F/A-18 E/F 20 mm gun systems for the Super Hornet fighter aircraft.
Production will be carried out at the company's Saco, Maine facility while the work will be administered from its Technology Center in Williston, Vermont.
The gun system … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Oilwell Takes Over NKT

Posted: 09 Apr 2012 03:35 PM PDT

National Oilwell Varco Inc. (NYSE:NOV) has completed the $670 million or 3.8 billion Danish Kroner acquisition of Denmark-based NKT Flexibles I/S (“NKT”).  In early February, National Oilwell had first announced plans to buy NKT Flexibles.
Danish company NKT Holding and Norwegian firm Subsea 7 S.A., having a respective interest of 51% and 49%, formed NKT Flexibles to design and produce flexible pipe products and systems for the offshore oil and gas industry.
NKT Flexibles also manufactures … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: VIX Higher, Financials Drop

Posted: 09 Apr 2012 03:23 PM PDT

Cusick’s Corner 04-09-2012
The shorts held their ground into the close but so did the bid after a quick pullback in the morning. I have been watching the performance of the Financials, XLF, which have been in a bit of a tailspin over the last few sessions and I would like to see this offensive sector firm up here. I would not like to see XLF break $15 because this could spell a potentially deeper issue. I will also be watching the action in the yield stocks, Utilities & Healthcare; they … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Season, Fed Speeches In Focus

Posted: 09 Apr 2012 03:20 PM PDT

04/09/12 Earnings season officially kicks off on Tuesday, with Aloca reporting its quarterly results. US wholesale trade data and Fed speeches will highlight the economic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Conoco Expects Less Q1 Output

Posted: 09 Apr 2012 03:15 PM PDT

ConocoPhillips (NYSE:COP) expects its production for the upcoming first quarter to be lower than the year-earlier period as expressed in its interim update.
The U.S. major now projects hydrocarbon production of approximately 1.62 million barrels of oil equivalent per day (MMBoe/d), down almost 5% from the year-ago level of 1.70 MMBoe/d. However, the anticipated figure exceeds its forecast for full-year average output of 1.55 MMBoe to 1.60 MMBoe, on a daily basis. This year-over-year downfall … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WAFD To Acquire South Valley

Posted: 09 Apr 2012 03:15 PM PDT

Last week, Washington Federal Inc. (WAFD) announced a deal to acquire Oregon-based South Valley Bancorp Inc. According to the deal, South Valley's wholly owned subsidiary, South Valley Bank & Trust, will also merge with WAFD's wholly owned subsidiary, Washington Federal, subsequent to the merger of both the parent companies.
The deal is anticipated to be closed by October end. Moreover, the agreement is still subject to customary closing conditions, along with the consent of South … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forest Buys Bystolic Rights

Posted: 09 Apr 2012 03:06 PM PDT

Forest Laboratories, Inc. (NYSE:FRX) recently purchased all US patents and other US and Canadian intellectual property for hypertension treatment, Bystolic, from Janssen Pharmaceutica NV, a Johnson & Johnson (NYSE:JNJ) company.
In order to acquire the Bystolic patents, Forest Labs made a one-time cash payment of $357 million to Janssen, which will be amortized by Forest Labs over the balance patent life of Bystolic. Forest Labs had licensed the US pharmaceutical composition of matter patent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Buckle Keeps Up Comps Momentum

Posted: 09 Apr 2012 02:55 PM PDT

The Buckle Inc. (NYSE:BKE) reported net sales of $105.5 million in March 2012, up 8.9% from $96.9 million in the comparable month last year. The company's comparable store sales grew 6.4% in the reported month. Both Men's and Women's sides of business performed well.
Total sales for the men's side of business increased 8.5% year over year and represented 39.5% of total sales for the month, flat year over year. Sales from the women's side of business accounted for 60.5% of total sales and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mindray To Attend Medical Fair

Posted: 09 Apr 2012 02:50 PM PDT

Mindray Medical International Limited (NYSE:MR), a leading Chinese medical device manufacturer, recently revealed its intended participation in the 67th China International Medical Equipment Fair (“CMEF”).  The event will take place between April 17, 2012 and April 20, 2012 in Shenzhen, China.
The company will showcase over 90 offerings from its three business lines. The broad segments are medical imaging, patient monitoring and life support as well as in-vitro diagnostic. Included among the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Five Trade Ideas For Tuesday, April 10

Posted: 09 Apr 2012 02:45 PM PDT

 ( click to enlarge )

Hello Folks !! I’m back from my Easter vacations and ready to keep blogging for your reading :D During today’s trading session I was scanning some charts and I stumbled upon Las Vegas Sands Corp. (NYSE:LVS), whose stock has shown remarkable strength over the last four months. The stock made a new 52 week high this afternoon and was one of the big winners on Monday, closing up $1.86 on the day. LVS traded heavy volume as it hit a high of $60.85. This high is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Supervalu Inc.

Posted: 09 Apr 2012 02:40 PM PDT

Supervalu Inc. (NYSE:SVU) is slated to release its fourth quarter 2012 results before the opening bell on April 10, 2012. The Zacks Consensus Estimate for the fourth quarter is pegged at 35 cents (year-over-year decline of 20.10%) on revenues of $8,320 million.
The Zacks Consensus Estimate for the fiscal year 2012 is $1.23 (year-over-year decline of 11.87%) on revenues of $36,213 million.
Third Quarter Recap
Supervalu Inc.'s earnings per share (EPS) of 24 cents shot up 125.5% compared to a loss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ABB Wins Paper Mill Contract

Posted: 09 Apr 2012 02:35 PM PDT

ABB Ltd. (NYSE:ABB) recently received a contract from Sappi to provide maintenance services to the Nijmegen fine paper mill in the Netherlands. The Maintenance Improvement Agreement is for a period of five years.
As per the agreement, ABB will handle all related maintenance activity geared toward enhancing productivity and ensuring reliability of equipment at the mill. Further, the company will be responsible for retaining and training all maintenance staff and management present at the mill. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Feeble 1Q Outlook For SanDisk

Posted: 09 Apr 2012 02:20 PM PDT

After reporting mixed fourth quarter results, SanDisk Corp. (NASDAQ:SNDK) lowered its outlook for the first quarter of 2012 based on a soft demand scenario.
The company expects to earn $1.2 billion in the first quarter of 2012, lower than the previous guidance of $1.30 billion to $1.35 billion. The leading memory chip maker for smartphones and tablets also expects its gross margin to be lower than the previous guidance.
Management expects that the weak pricing environment to impact demand. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valspar Retained At Outperform

Posted: 09 Apr 2012 02:10 PM PDT

We reiterate our Outperform recommendation on The Valspar Corporation (NYSE:VAL), the sixth largest paint and coatings manufacturer globally. Its earnings of 62 cents a share for first-quarter 2012 topped the Zacks Consensus Estimate of 48 cents.
Revenues rose 5% year over year to $885.6 million led by higher sales from the Minnesota-based company's Coating segment. Valspar witnessed improved margins in the quarter, supported by lower raw material cost, pricing and better productivity.
Moving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UDR Divests Assets

Posted: 09 Apr 2012 02:00 PM PDT

UDR Inc. (NYSE:UDR), a leading multifamily real estate investment trust (REIT), has recently announced that during first quarter 2012, it had completed the sale of 6 apartment communities totaling 1,576 units for net proceeds of $133 million. The company also anticipates selling 15 additional apartment communities aggregating 4,931 units in the remainder of the current fiscal year for $477 million in net proceeds.
The asset sale is part of the long-term strategy of the company to exit the Phoenix, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Tumble Monday After Jobs Report, Holiday Weekend

Posted: 09 Apr 2012 09:00 AM PDT

04/09/12 US stocks started the week with a sharp loss after Friday’s worse-than-expected jobs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Overseas Shipholding Neutral Again

Posted: 09 Apr 2012 01:50 PM PDT

We upgrade our recommendation on Overseas Shipholding Group Inc. (NYSE:OSG) to Neutral based on its current valuation which dropped by an enormous 65% in the last year. The low valuation level may restrict further downslide of the stock price. The company's fourth quarter of 2011 financial results outpaced the Zacks Consensus Estimates.
Recent political turmoil between the U.S. and other developed western countries and the Middle-East country of Iran regarding the latter's nuclear weapon … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fitch Affirms Health Net’s Ratings

Posted: 09 Apr 2012 01:50 PM PDT

International credit rating agency, Fitch Ratings, recently affirmed the long-term issuer default rating (IDR) of Health Net Inc. (NYSE:HNT) at "BB+" and 6.375% senior notes due June 2017 at "BB". Additionally, the rating agency affirmed the insurer financial strength rating (IFS) of the company's operating subsidiaries at "BBB". All the ratings carry a stable outlook, which implies a low possibility of a rating change in the near future.
The "BBB" rating reflects Health Net's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Jones Lang Upgraded To Outperform

Posted: 09 Apr 2012 01:35 PM PDT

We have recently upgraded our long-term recommendation for Jones Lang LaSalle Incorporated (NYSE:JLL), a leading real estate investment trust (REIT), from Neutral to Outperform as we anticipate it to perform well above the broader market.
Jones Lang reported record revenues in 2011 with strong performances across all business segments and geographic regions except the LaSalle Investment Management segment. In addition, the company reduced its net debt position by over $180 million in 2011, driven … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PulteGroup Down To Neutral

Posted: 09 Apr 2012 01:25 PM PDT

We recently downgraded our rating on PulteGroup Inc. (NYSE:PHM) from Outperform to Neutral due to continued weakness in the homebuilding market.
PulteGroup reported earnings per share of 11 cents in the fourth quarter of 2011, exceeding the Zacks Consensus Estimate of 8 cents and the year-ago figure of 1 cent per share. Improved gross margins and reduced overhead costs boosted earnings, despite a nominal increase in revenue.
Pulte's homebuilding revenues rose marginally by 1% to $1.2 billion … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Truth Vs. Fiction

Posted: 09 Apr 2012 01:24 PM PDT

Oh, look — more good news about the economy!
“‘The Recovery Is Here,’ Reports Underemployed Man Making $20,000 Less Than He Used To”
CARBONDALE, IL—Citing the fact that he’s now able to make the minimum payment on his credit cards each month and is back in the workforce making $20,000 less than when he was laid off in 2009, 43-year-old Tom Baker declared Tuesday that the economy was recovering by leaps and bounds. “The tide is turning!” said the man who had to sell his four-bedroom home for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BofA Closes Unit, Trims Workforce

Posted: 09 Apr 2012 01:15 PM PDT

On Thursday, the Charlotte Observer reported that Bank of America Corporation (NYSE:BAC) is shutting its Charlotte Investment Center, a support unit of BofA's Merrill Edge business. This closure will lead to a layoff of about 80 employees.
Earlier last week, the employees were informed about this shut down. It would be effective from June 30. However, a few of them will be offered same type of jobs in BofA's investment center in Jacksonville, Florida.
BofA's Charlotte Investment Center … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ensco Expands Fleet With Ensco DS-8

Posted: 09 Apr 2012 01:05 PM PDT

The U.K.-based offshore driller Ensco plc (NYSE:ESV) has inked a contract with Samsung Heavy Industries, whereby the latter will deliver a new ultra deepwater drillship at a cost of about $645 million.
The advanced technology-enabled drillship will be built in the Samsung Heavy Industries shipyard, located in Geoje, South Korea and will be the sixth Samsung DP3 drillship in the offshore driller's fleet. The drillship, expected to be ready by the third quarter of 2014, will have the potential to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polycom Fumbles Yet Again

Posted: 09 Apr 2012 01:00 PM PDT

Polycom Inc. (NASDAQ:PLCM), a leading global unified collaborative solutions provider, recently reported disappointing preliminary financial results for its first quarter of 2012. The company reported that total revenue will be within the range of $364 million – $370 million. Its mid-point of $367 million is well below the current Zacks Consensus Estimates of $384 million.
Quarter GAAP EPS will be around 7 cents – 9 cents per share. Non-GAAP EPS (including share based compensation expenses) will … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ford To Boost Capacity In China

Posted: 09 Apr 2012 12:40 PM PDT

Ford Motor Co. (NYSE:F) plans to raise its annual production capacity by nearly 60% in China by investing $600 million with its joint venture partner, Changan Automobile Group Co. The automaker expects to boost capacity at its plant in the southwestern city of Chongqing by 350,000 units per year to 950,000 vehicles per year by 2014. Construction of the expansion project is expected to start immediately.
Ford manufactures Focus, Fiesta, Mondeo and other models in China in a joint venture with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Neutral On Plains Exploration

Posted: 09 Apr 2012 12:35 PM PDT

We have retained our Neutral recommendation on Plains Exploration & Production (NYSE:PXP) as the future prospects of the company are significantly tied to the volatile oil and natural gas price movements. The top line suffers when the prices fail to scale up to the expected levels.
Counting among the positives are the initiatives taken by the oil major to concentrate on high-quality, low-cost, and high-return assets. Included in this category are its onshore assets in California, the Eagle … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Amylin Completes BLA Submission

Posted: 09 Apr 2012 12:20 PM PDT

Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) recently completed the submission of its rolling Biologics License Application (BLA) for metreleptin to the US Food and Drug Administration (FDA).
Amylin is looking to get metreleptin approved for the treatment of diabetes and/or high levels of triglycerides in the bloodstream (hypertriglyceridemia) in pediatric and adult patients suffering from rare forms of lipodystrophy.
Amylin had initiated the filing of the rolling BLA for metreleptin in December 2010. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Boeing Reports Q1 Deliveries

Posted: 09 Apr 2012 12:10 PM PDT

The Boeing Company (NYSE:BA) announced deliveries across its commercial and defense operations for the first quarter of 2012. In the commercial space, the airliner delivered 137 airplanes during the first quarter of 2012.
The 737 model continues to be a major pillar of Boeing's strength in the commercial airplane sector with deliveries of 99 airplanes, followed by its 777 model with 20 deliveries in the first quarter. Both these models continue to do well due to their fuel efficiency and lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Monday Energy Links

Posted: 09 Apr 2012 11:36 AM PDT

1. Kansas Prepares for Gold-Rush Style Oil Boom. “It will enrich the area in a way it never has before economically,” says independent oilman Robert Murdock. “It is going to change things forever in this part of the world.”

2. “If the Tuscaloosa Marine Shale formation proves to be a honey hole for oil and gas companies, then southwest Mississippi could see a boost in business and an influx of oil workers and residents with new disposable income.  Britt Herrin, executive director of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

VIDEO: Why We Need Voter-ID Laws

Posted: 09 Apr 2012 11:18 AM PDT

Polling station in DC would have allowed an imposter to vote as “Eric Holder.”

From John Fund’s NRO column “Why We Need Voter-ID Laws Now”:

“Average voters understand that it's only common sense to require ID because of how easy it is for people to pretend they are someone else.

In the video above, filmmaker James O'Keefe demonstrated just how easy it is on Tuesday when he dispatched an assistant to the Nebraska Avenue polling place in Washington where Attorney General Holder has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For ETF Trading On Tuesday, April 10, 2012

Posted: 09 Apr 2012 05:03 AM PDT

By ForexMansion.com

The Trend Trader for ETFs
For Trading On Tuesday, April 10, 2012

The top 40 ETFs by net assets
In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AGG – iShares Lehman Aggregate Bd Fd
110.11
+ 0.44
109.67
109.56

Bullish

BND – Vanguard Total Bond Market ETF
83.37
+ 0.35
83.11
82.98

Bullish

DBC – DB Commodity Index Tracking Fd
28.57
− 0.45
28.60
28.80

Bearish

DIA – SPDR DJ Industrial Average … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Forex Trading On Tuesday, April 10, 2012

Posted: 09 Apr 2012 05:03 AM PDT

By ForexMansion.com

The Trend Trader for Forex
For Trading On Tuesday, April 10, 2012

THE BIG SIX

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AUDUSD – Aust Dollar / US Dollar
1.0311
+ 0.07
1.0298
1.0336

Neutral

EURUSD – Euro / US Dollar
1.3104
+ 0.09
1.3086
1.3169

Neutral

GBPUSD – British Pound / US Dollar
1.5892
+ 0.20
1.5861
1.5909

Neutral

USDCAD – US Dollar / Canadian Dollar
0.9974
+ 0.07
0.9958
0.9951

Bullish

USDCHF – US Dollar / Swiss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Stock Trading On Tuesday, April 10, 2012

Posted: 09 Apr 2012 05:03 AM PDT

By ForexMansion.com

The Trend Trader for the Dow 30 Stocks
For Trading On Tuesday, April 10, 2012

In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AA – Alcoa Inc
9.60
− 0.31
9.72
9.82

Bearish

AXP – American Express Company
57.16
− 1.62
57.50
57.94

Bearish

BA – Boeing Co
72.43
− 1.58
73.29
74.12

Bearish

BAC – Bank of America Corporation
8.93
− 3.25
9.14
9.37

Bearish

CAT – Caterpillar Inc
103.57
− … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Futures Trading On Tuesday, April 10, 2012

Posted: 09 Apr 2012 05:03 AM PDT

By ForexMansion.com

The Trend Trader for Futures
For Trading On Tuesday, April 10, 2012

INDICES

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

S&P 500 – Jun ESM2
1375.00
− 1.10
1384.28
1393.33

Bearish

Dow Jones – Jun YMM2
12850
− 0.99
12929
13013

Bearish

Nasdaq – Jun NQM2
2728.50
− 0.92
2740.69
2754.75

Bearish

Russell – Jun TFM2
799.10
− 1.72
807.59
816.43

Bearish

INTEREST RATES

US T-Bond – Jun ZBM2
140-19
+ … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Managing Expectations: Why Gold Should Thrive

Posted: 08 Apr 2012 10:00 PM PDT

It was a challenging week for gold investors. Although the yellow metal has been on a spectacular 11-year bull run, recent strength in the economy has some thinking gold's heyday is over.
As I often say, investing, like life, is about managing expectations—even throughout gold's decade-long rise, price action over the short term can go both ways. It helps to look at what happens after short-term drops. For example, looking at the past decade of one-day 5 percent declines in gold, you can … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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