Friday, May 25, 2012

DailyMarkets.com - Earnings Preview: Big Week Ahead For Economic Data

DailyMarkets.com - Earnings Preview: Big Week Ahead For Economic Data

Earnings Preview: Big Week Ahead For Economic Data

Posted: 25 May 2012 03:02 PM PDT

Earnings Preview – Week of May 29th

The focus this holiday-shortened week will be on the labor market, with the May non-farm payroll report coming out on Friday. Many will be hoping that the jobs report will help wash away the disappointing readings from the last two months. Relative to where expectations stood ahead of the April and March reports, it may not be that difficult to meet or exceed expectations this time around. There are a number of other major economic reports on the docket as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Travelers Upgraded To Neutral

Posted: 25 May 2012 03:02 PM PDT

We are upgrading The Travelers Companies Inc (NYSE:TRV) to Neutral from Underperform on the back of strong first-quarter results.
Operating earnings surpassed the Zacks Consensus Estimate as well as the year-ago numbers largely on lower share count due to share repurchases. Top line benefited on the heels of increase in premiums earned (attributable to pricing gains), though lower net investment income was a partial offset as low reinvestment rates in the fixed income portfolio weighed on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Citi Trimming Stake In Akbank

Posted: 25 May 2012 02:43 PM PDT

According to a Bloomberg report, Citigroup Inc. (NYSE:C) is trimming its stake inAkbank T.A.S., a Turkish bank. The company is offering 10.1% of its Akbank stake worth $1.27 billion, up for sale. This amounts to 404 million shares currently owned by its unit, Citigroup Overseas Investment Corp. The company is offering the shares to investors at 5.20 to 5.30 lira each.
Notably, in March this year, Citi had announced its intention of slashing its stake in Akbank from 20% to below 10%. Back in 2007, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

2-for-1 Stock Split For Raven

Posted: 25 May 2012 02:43 PM PDT

Raven Industries Inc. (NASDAQ:RAVN) announced that its Board of Directors has approved a two-for-one stock split in the form of a stock dividend. The decision was taken on the back of strong operating results and stock performance.
On July 25, 2012, a shareholder owning one share of Raven stock as of the close of business on July 10, 2012, will receive two shares of Raven common stock. The company had last announced a two-for-one stock split in October 2004.
In addition, the company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Put These Stocks On Your Watch List For Next Week

Posted: 25 May 2012 02:30 PM PDT

( click to enlarge )

Elan Corporation, plc (ADR) (NYSE:ELN) looks really strong here, broke and closed above 50 day MA. Strong volume today ! On the daily chart, we can see a few technical signals suggesting this swing higher in the short-term should continue a few more days. First, the MACD is displaying a new bullish crossover and a positive move. At the same time, we see that the daily stochastics are showing positive momentum from oversold levels, which should reinforce a move higher if … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CarMax Mulling New Store At Raleigh

Posted: 25 May 2012 02:28 PM PDT

Used car retailer CarMax Inc. (NYSE:KMX) is planning to launch a store in northeast Raleigh. The store is well spread out occupying around 18 acres of land. It is located at the intersection of Capital Boulevard and Perry Creek Road, which is about a mile north of Interstate 540.
Currently, the company has a store on Glenwood Avenue located at Ebenezer Church Road and another at Capital Boulevard in Raleigh. These stores are exclusively geared for buying vehicles and for not selling.
CarMax, in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Amazon Inks Deal With Paramount

Posted: 25 May 2012 02:28 PM PDT

Amazon.com Inc. (NASDAQ:AMZN) announced a three-year agreement with Paramount Pictures, extending its archive of films in its streaming video site, Amazon Prime Instant Video.
The online retailer has been consistently upgrading and promoting movies and television shows on their streaming video service. In June last year, Amazon signed a deal with CBS (NYSE:CBS) for broadcasting some of their classics. This was followed by Fox in September, and by Disney (NYSE:DIS) a few months later. In February this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mesa Reports Better

Posted: 25 May 2012 02:28 PM PDT

On May 23, 2012, testing instrument maker-Mesa Laboratories Inc. (NASDAQ:MLAB) reported its fourth quarter fiscal 2012 adjusted (excluding one-time expenses such as acquisition-related intangible amortizations) earnings of 76 cents per share, up 7% from the year-ago earnings of 71 cents. The earnings per share increased 20.6% on a sequential basis.
Profit rose 1% to $2.2 million (62 cents a share) from $2.18 million of the prior year quarter. The profit includes an unfavorable impact of a non-cash … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

It’s “Click To Buy” For Retailers

Posted: 25 May 2012 02:28 PM PDT

Gone are the days when retail was all about brick & mortar.  "Click to buy" is the new name of the game, as “transformation” is the new mantra among the retailers.
With changing times, an increasing number of consumers are using smartphones and tablets to purchase items. Thus, retailers like Macy's Inc. (NYSE:M), Aeropostale Inc. (NYSE:ARO), J C Penney Company Inc. (NYSE:JCP) and many others have incorporated e-commerce platforms to bring in incremental sales.
Retailers are now largely … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Motors To Boost Headcount

Posted: 25 May 2012 02:28 PM PDT

General Motors Company (NYSE:GM) is reportedly enlarging its workforce in the Detroit-Hamtramck assembly plant by adding 200 new workers. The decision comes in the wake of rising demand prior to the beginning of the production of 2013 Chevrolet Malibu.
Currently, the assembly plant employs about 1,350 people. Around 1,200 employees work on hourly basis and the remaining 150 are General Motors' salaried employees. The plant at present operates on a shift basis which entails working for ten hours … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

USB Launches Android Credit Card

Posted: 25 May 2012 02:12 PM PDT

U.S. Bancorp (NYSE:USB) unveiled an android-compatible credit card application, REI Visa app, for the consumers of Recreational Equipment, Inc.The application is similar to the one launched by US Bancorp for iPhones back in October. U.S. Bank plans to continue rolling out this application to its co-branded partners throughout 2012.
The new application enables the consumers to apply for and receive on-the-spot credit for making purchases. This sort of application will enhance consumers' … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Biogen Tysabri Canadian Label Update

Posted: 25 May 2012 02:12 PM PDT

Biogen Idec (NASDAQ:BIIB) recently announced that Health Canada has approved a change in the label of its multiple sclerosis (MS) drug, Tysabri. The new label of the drug indicates anti-JC virus (JCV) antibody status as a risk factor for developing a rare, serious brain infection known as progressive multifocal leukoencephalopathy (PML). Infection by the JC virus leads to the development of PML.
This is the third risk factor identified by Biogen for MS patients on treatment with Tysabri. It helps … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Balanced View On Northern Trust

Posted: 25 May 2012 01:52 PM PDT

We are reiterating our Neutral recommendation on Northern Trust Corporation (NASDAQ:NTRS), based on the company's focus on profit improvement initiatives and initiation of new business with the addition of both personal and institutional clients and assets. Moreover, the completion of acquisitions in 2011 furnished Northern Trust with attractive clients coupled with innovative competencies that will help drive future new business.
Against the backdrop of macroeconomic headwinds such as very low … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Toyota To Expand Huntsville Plant

Posted: 25 May 2012 01:52 PM PDT

Toyota Motor Corp. (NYSE:TM) plans to expand its Huntsville engine plant by constructing a 300,000-square-foot building in order to boost the company's production of V6 engines in North America. The move would entail an investment of $80 million at the plant, bringing the total investment to more than $700 million.
The expansion will create 125 jobs at the plant. With this, it will bring the total employment at Toyota Motor Manufacturing Alabama to 1,150 people.
Recently, Toyota revealed its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Stocks Up For 9th Straight Week

Posted: 25 May 2012 01:52 PM PDT

The U.S. Energy Department’s weekly inventory release showed that crude stockpiles jumped to their highest level since August 1990 amid a drop in refinery utilization. The agency's report further revealed that refined product inventories – gasoline and distillate – dropped from their previous week levels despite weaker demand.
The Energy Information Administration (“EIA”) Petroleum Status Report, which contains data for the previous week ending Friday, outlines information regarding the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wandering The Streets

Posted: 25 May 2012 01:33 PM PDT

In “Millions Homeless in US: Report,” China Daily details an interesting take on economic conditions in our country:
BEIJING – Millions of homeless people wander around streets in the United States, according to a Chinese report on the US human rights record released on Friday.
The Human Rights Record of the United States in 2011, released by the State Council Information Office of the People’s Republic of China, said that about 2.3 million to 3.5 million Americans did not have a place that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

HSBC Upgraded To Neutral

Posted: 25 May 2012 01:33 PM PDT

We have upgraded our long-term recommendation on HSBC Holdings plc (NYSE:HBC) to Neutral from Underperform, based on the success of its restructuring initiatives. The company remains on track to achieve cost savings of $3.5 billion by 2013 and streamline its operations as well as improve its top line.
However, for the first quarter of 2012, HSBC reported an approximate 34% drop in net income attributable to lower fee and dividend income. These were partially offset by increases in the net interest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Labor Strike At Canadian Pacific

Posted: 25 May 2012 01:33 PM PDT

One of the biggest railroads in Canada, Canadian Pacific Railway Limited (NYSE:CP) is facing labor strikes by railway workers given disagreements over a new labor contract. Approximately 5,000 union workers went on strike, thus significantly affecting freight services across Canadian Pacific's rail … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Boeing Wins AWACS Contract

Posted: 25 May 2012 01:33 PM PDT

The Boeing Company (NYSE:BA) has been awarded a contract worth $368 million by the Electronic Systems Center of the U.S. Air Force to provide engineering, manufacturing and development ("EMD") assistance to U.S. Air Force and NATO. This agreement constitutes the second phase of a cooperative program between NATO and the U.S. Air Force.
Per the agreement, Boeing will amalgamate new and existing avionics and communications systems, create a design for installation of the new equipment and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Covidien Prices Senior Notes

Posted: 25 May 2012 01:33 PM PDT

On May 22, 2012, medical technology major Covidien plc (NYSE:COV) announced the pricing of a two-part offering of senior notes by its subsidiary, Covidien International Finance S.A. (CIFSA). It priced 1.350% senior notes for the aggregate principal amount of $600 million due 2015 and 3.200% senior notes for the aggregate principal amount of $650 million due 2022. The company expects the offering to close on May 30, 2012.
The total proceeds of $1.25 billion from this offering will be utilized to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pipeline Setback For Bayer/JNJ

Posted: 25 May 2012 01:33 PM PDT

The HealthCare unit of Bayer (BAYRY) and its partner,  Johnson & Johnson's (NYSE:JNJ) Janssen Research and Development unit, received some disappointing news recently when an advisory panel of the U.S. Food and Drug Administration (FDA) recommended against approving their blood thinner Xarelto for an additional indication.
The partners are looking to get Xarelto approved for the reduction of the risk of secondary cardiovascular events in patients suffering from acute coronary syndrome … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DuPont, Seegene In Food Safety Pact

Posted: 25 May 2012 01:13 PM PDT

DuPont Nutrition & Health, a unit chemical giant EI DuPont de Nemours & Co. (NYSE:DD), and South Korea-based leading diagnostic company Seegene Inc. has forged an agreement to jointly make highly multiplexed assays for food safety testing. The entities have not divulged the financial terms of the deal.
The agreement has marked the union of DuPont's award-winning pathogen testing platform "BAX System" with Seegene's novel molecular technologies including DPO and TOCE. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DeVry Retained At Neutral

Posted: 25 May 2012 12:57 PM PDT

We have maintained a Neutral rating on DeVry Inc. (NYSE:DV), a provider of secondary and post-secondary education, following appraisal of third quarter 2012 results.
DeVry's third quarter 2012 earnings of $1.00 per share were in line with the Zacks Consensus Estimate but down 24.2% from the prior-year quarter due to lower revenues.  DeVry's quarterly net sales fell 3.9% to $540.8 million from $562.7 million in the prior-year period due to sluggish student enrollments in the quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Analyst Interviews: Railroad Industry Stock Outlook

Posted: 25 May 2012 12:38 PM PDT

Despite the uncertainties surrounding the demand for U.S. coal, railroads delivered stellar first quarter results. Contrary to market expectations, freight railroads emerged unscathed by coal’s woes, with most of the big players surpassing their earnings estimates.

According to market reports, North American Class I railroads registered growth of approximately 29% in their first quarter earnings. Strong pricing coupled with commodities volume, effective cost management and improved rail … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kinder Morgan Acquires El Paso

Posted: 25 May 2012 12:38 PM PDT

Midstream operator Kinder Morgan, Inc. (KMI) finally completed the acquisition of El Paso Corporation. The agreement announced in October 2011, is effective from today. The deal is valued at $38 billion, including the $17 billion outstanding debt of El Paso and its subsidiaries. The El Paso assets would give a boost to Kinder Morgan's standing as a major midstream operator in the U.S.
The acquisition was finally completed after getting past a number of regulatory hurdles and fulfillment of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

International Paper Ups Synergy Target

Posted: 25 May 2012 12:37 PM PDT

International Paper Company (NYSE:IP) recently held its investor day highlighting its performance, its strategies, and its future growth drivers. The main takeaways from the presentation are elaborated below.
The company has raised its synergy expectation from the Temple-Inland acquisition to $400 million (from $300 million) over the first two years and projects earnings before interest, taxes, depreciation and amortization (EBITDA) at $5.1 billion annually over the next three to four years, up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chesapeake To Offload Assets Again

Posted: 25 May 2012 12:37 PM PDT

Chesapeake Energy Corporation (NYSE:CHK) continues with its divestiture program as it plans to sell off half a million acres of its holdings in the Rocky Mountains. This move once more highlights Chesapeake's endeavor to close a funding gap of $9 billion to $10 billion.
Chesapeake − the second largest U.S. gas producer after ExxonMobil Corporation (NYSE:XOM) − intends to divest approximately 504,000 net acres of land that includes leases for oil and gas production in the Denver-Julesberg (DJ) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

St. Jude Remains Neutral

Posted: 25 May 2012 12:37 PM PDT

We reiterate our Neutral recommendation on St. Jude Medical (NYSE:STJ). St. Jude reported first quarter fiscal 2012 adjusted earnings per share of 86 cents beating the Zacks Consensus Estimate of 83 cents per share and surpassing the year-ago earnings of 80 cents per share.
Adjusted earnings exclude extraordinary and one-time charges such as restructuring expenses to modernize manufacturing in the Cardiac Rhythm Management ("CRM") segment. In the reported quarter, profit dropped 9% to $212 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Total Expands Renewable Base

Posted: 25 May 2012 12:37 PM PDT

TOTAL S.A. (NYSE:TOT) has set up a new photovoltaic solar panel manufacturing and assembly plant with its affiliate SunPower Corporation (NASDAQ:SPWR), at the De Vernejoul industrial park in Porcelette, Eastern France. SunPower is a manufacturer of high efficiency solar cells, solar panels and solar systems.
The plant spread across an area of 3,300 square meters will produce 150,000 solar panels annually. The panels will deliver an average efficiency of 20%. The solar panels with a generation capacity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

May Consumer Sentiment Highest In More Than 4 Years; New Record Set For Nine Straight Increases

Posted: 25 May 2012 12:09 PM PDT

In another important milestone for America’s “Plow Horse Economy,” the Thomson Reuters/University of Michigan consumer sentiment index increased in May for the ninth straight month.  That sets a new record for the most consecutive monthly increases in the history of the index going back to 1978.  It was also the most upbeat American consumers have been in more than fours years, since October 2007 before the recession started.  The May increase brings consumer confidence back … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Profit-Taking Fuels Risk Appetite Recovery And US Dollar Pullback

Posted: 25 May 2012 11:27 AM PDT

Fundamental Headlines
- Merkel May Be Persuaded On Euro Debt-Sharing Compromise – Bloomberg
- Frozen Europe Means ECB Must Resort To ELA For Banks – Bloomberg
- Europe Slowdown Adds More Tension To Greek Drama – Reuters
- Bankia Set To Ask Spain For More Than $19 Billion – Reuters
- Japan Consumer Prices Rise 0.2% As BoJ Target Stays Distant – Bloomberg
European Session Summary
The US Dollar (ticker: USDOLLAR) edged lower against its major counterparts as profit-taking sparked a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Stock Trading On Tuesday, May 29, 2012

Posted: 25 May 2012 05:32 AM PDT

By ForexMansion.com

The Trend Trader for the Dow 30 Stocks
For Trading On Tuesday, May 29, 2012

In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AA – Alcoa Inc
8.63
0.00
8.56
8.56

Bullish

AXP – American Express Company
55.81
− 0.94
55.89
55.95

Bearish

BA – Boeing Co
70.00
− 1.95
70.86
70.62

Bearish

BAC – Bank of America Corporation
7.15
+ 0.14
7.13
7.07

Bullish

CAT – Caterpillar Inc
89.94
− … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Futures Trading On Tuesday, May 29, 2012

Posted: 25 May 2012 05:32 AM PDT

By ForexMansion.com

The Trend Trader for Futures
For Trading On Tuesday, May 29, 2012

INDICES

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

S&P 500 – Jun ESM2
1315.00
− 0.57
1315.28
1310.67

Neutral

Dow Jones – Jun YMM2
12429
− 0.85
12458
12434

Bearish

Nasdaq – Jun NQM2
2524.00
− 0.48
2531.86
2516.83

Neutral

Russell – Jun TFM2
765.10
− 0.44
763.09
760.27

Bullish

INTEREST RATES

US T-Bond – Jun ZBM2
147-23
+ … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For ETF Trading On Tuesday, May 29, 2012

Posted: 25 May 2012 05:32 AM PDT

By ForexMansion.com

The Trend Trader for ETFs
For Trading On Tuesday, May 29, 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
110.92
+ 0.15
110.85
110.89

Bullish

BND – Vanguard Total Bond Market ETF
84.03
+ 0.12
84.01
84.01

Bullish

DBC – DB Commodity Index Tracking Fd
26.05
+ 0.35
25.97
26.14

Neutral

DIA – SPDR DJ Industrial Average ETF
124.26
− … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Forex Trading On Tuesday, May 29, 2012

Posted: 25 May 2012 05:32 AM PDT

By ForexMansion.com

The Trend Trader for Forex
For Trading On Tuesday, May 29, 2012

THE BIG SIX

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AUDUSD – Aust Dollar / US Dollar
0.9754
− 0.09
0.9756
0.9793

Bearish

EURUSD – Euro / US Dollar
1.2513
− 0.16
1.2565
1.2611

Bearish

GBPUSD – British Pound / US Dollar
1.5662
− 0.04
1.5684
1.5713

Bearish

USDCAD – US Dollar / Canadian Dollar
1.0290
+ 0.27
1.0264
1.0251

Bullish

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