Wednesday, May 16, 2012

DailyMarkets.com - First Cohort Of HOT Phase Ib In Solid Tumor Completed

DailyMarkets.com - First Cohort Of HOT Phase Ib In Solid Tumor Completed

First Cohort Of HOT Phase Ib In Solid Tumor Completed

Posted: 16 May 2012 07:53 AM PDT

First Cohort of HOT Phase Ib in Solid Tumor Completed

Grant Zeng, CFA

On May 15, 2012, Novelos Therapeutics, Inc. (NVLT) announced that it has successfully completed the first cohort in a U.S. multi-center Phase Ib dose-escalation trial of its cancer-targeted molecular radiotherapeutic compound I-131-CLR1404 (HOT) in cancer patients with advanced solid tumors.  

The first two-patient cohort was successfully dosed with approximately 20 mCi of HOT, triggering enrollment into the second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Saks Profit Up On Strong Comps

Posted: 16 May 2012 07:52 AM PDT

Saks Incorporated's(NYSE:SKS) first-quarter 2012 earnings of 19 cents per share increased from the year-ago earnings of 17 cents per share. The Zacks Consensus Estimate for the first quarter of 2012 was 18 cents.
Results were driven by robust operating performance, strong same-store sales growth and gross margin expansion. In addition, Saks continued to focus on controlling expenses. Saks restricted Selling General & Administrative (SG&A) expenses to an optimum level while making … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CONX: Revenue Hits, Soft GM Impacts Income

Posted: 16 May 2012 07:33 AM PDT

Q3 2012 Financial Results: Revenue Hits Our Number But Soft Gross Margin Impacts Income
Brian Marckx, CFA

Corgenix Medical (CONX) reported financial results for the third fiscal quarter ending March 31, 2012 on May 14th.  While revenue of $2.7 million was a quarterly record (+49% y-o-y) and just about dead-on with our $2.8 million estimate, net income (-$190k A vs. $188k E) came in lighter than we expected due to a relatively weak gross margin.  Management again adjusted full-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Petrobras Misses As Costs Rise

Posted: 16 May 2012 07:33 AM PDT

Brazil’s state-run energy giant Petroleo Brasileiro S.A., or Petrobras (NYSE:PBR) announced first quarter 2012 earnings of R$9.2 billion or R$0.71 per share, compared with R$11.0 billion or R$0.84 in the year-earlier quarter.
The company reported net income of US$5.2 billion or 40 cents per ADR, down form the year-ago quarter result of US$6.6 billion or 51 cents per ADR. Quarterly earnings per share also missed the Zacks Consensus Estimate of 65 cents.
The company's results were hurt by rising … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

J. C. Penney Plunges, Div Shelved

Posted: 16 May 2012 07:13 AM PDT

Looks like nothing is going in favor of J. C. Penney Company Inc. (NYSE:JCP) and all it efforts are failing to mirror the kind of results that Ron Johnson, the Chief Executive Officer, actually thought of. The company undertook a slew of measures, which include pricing strategies and merchandising initiatives, to become America's favorite store. However, the dismal first-quarter 2012 results dashed those hopes at least for the near term. Also, the news of suspension of the quarterly dividend of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Quick Check On May 16 SP500 Breadth Divergences

Posted: 16 May 2012 07:01 AM PDT

As we start Wednesday morning with a bullish gap, let's take a quick step inside the market for a "Breadth Check-up" on the S&P 500.
Here's the intraday chart structure:

What we're seeing is the S&P 500 Index on the 5-min frame with two Market Internals that show Breadth:

$ADD:  NYSE Breadth (Advancing Issues minus Declining Issues)
$VOLD:  Volume Difference of Advancing Issues and Declining Issues

Before we discuss the current structure, let's review the most … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Hits 4-month Low Vs Dollar

Posted: 16 May 2012 07:00 AM PDT

05/16/12 The euro currency took another hit Wednesday as Greece’s political instability remained in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Europe Fears Keep Good U.S. News In Check

Posted: 16 May 2012 06:58 AM PDT

Greece-inspired worries continue to dominate the headlines again this morning, trying hard to divert the market's attention from a strong Housing Starts reading and better-than-expected results from Deere (NYSE:DE) and Target (NYSE:TGT). Greek society has endured a lot over the last two years, but the upcoming election, which will effectively be a referendum on the country's position in the union, has the potential of pushing them truly into uncharted territory.
 
Contagion fears have spiked … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mitsubishi UFJ Reports Profits

Posted: 16 May 2012 06:58 AM PDT

Mitsubishi UFJ Financial Group Inc. (NYSE:MTU) reported net income of ¥981.3 billion (US$12.5 billion) for fiscal year ended March 31, 2012 versus net income of ¥583.1 billion (US$6.8 billion) in the year-ago period. Diluted net income per common stock was ¥67.94 (86 cents) versus ¥39.89 (47 cents) in the prior-year period.
Results reflected a fall in G&A expenses and a significant decline in consolidated credit costs driven by a drop in credit costs. Moreover, loans and deposits growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

No Soft Landing For Cotton Futures

Posted: 16 May 2012 06:46 AM PDT

Wednesday, May 16, 2012
Though the fundamentals continue to look bearish for Cotton futures, technically the market appears to be oversold, and a short-covering rally may not be out of the question. One strategy to consider given the aforementioned scenario is the purchase of a calendar spread in Cotton futures options. For example, with July Cotton trading at 80.02 and December Cotton trading at 77.30 as of this writing, the 77 put calendar spread could be bought (buying Dec 77 puts and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mid-May Key Support Check On India Nifty Index

Posted: 16 May 2012 06:42 AM PDT

India's "Nifty 50″ Stock Index currently faces a key inflection support level at the 4,800 level.
Let's take a quick look at the Index and plan for potential action at this visual chart level.
First, let's see the Confluence Support Line that develops from the Weekly Chart:

Again, a quick glance shows the 4,800 Index level as the visual focal point for potential confluence support on the chart.
This builds from the flat 200 day Simple Moving Average currently resting at 4,819 and the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ELP 1Q12 Net Earnings Plummet

Posted: 16 May 2012 06:38 AM PDT

Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL, reported a 16.9% decline in its net earnings in the first quarter of 2012. Net income in the quarter settled at R$319.7 million (US$180.63 million) or R$1.17 per share (US$0.66 per ADR).
Revenue
Net operating revenues in the first quarter increased 10.9% year over year to R$2,024.6 million (US$1,143.8 million) due to higher sales volume.
Revenue improvement was witnessed in all the categories mentioned below: about 6.5% for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Amylin Pharmaceuticals, Avon Products, Dick’s Sporting Goods Inc, Home Depot, J.C. Penney Company Holding Company, TJX Companies

Posted: 16 May 2012 06:38 AM PDT

    The Home Depot, Inc. (NYSE:HD) posted first quarter earnings per share of $0.65, matching the Zacks Consensus Estimate of $0.65

    J.C. Penney Company, Inc. (NYSE:JCP) reported first quarter loss per share of $0.75, surpassing the Zacks Consensus Estimate loss of $0.11

    Shares of Dicks Sporting Goods Inc (NYSE:DKS) gained 5.9% after it posted first quarter earnings per share of $0.45, beating the Zacks Consensus Estimate of $0.38

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

Earnings Surge For Acxiom

Posted: 16 May 2012 06:38 AM PDT

Acxiom Corporation (NASDAQ:ACXM) reported Non-GAAP earnings per share of 22 cents in the fourth quarter of fiscal 2012 compared with 21 cents in the previous-year quarter, beating our Zacks Consensus Estimate of 19 cents.
For fiscal 2012, Non-GAAP earnings per share came in at 76 cents compared with 68 cents in fiscal 2011.
Revenues
Total revenue came in at $287.3 million, remaining almost consistent with the last year quarter but rising 2.2% sequentially. This again beat the Zacks Consensus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed Bag From Valspar

Posted: 16 May 2012 06:24 AM PDT

The Valspar Corporation (NYSE:VAL) reported second-quarter fiscal 2012 adjusted (excluding restructuring expenses) earnings of 84 cents per share, up from 64 cents recorded in the year-ago quarter.  The results beat the Zacks Consensus Estimate of 81 cents. Including one-time items, earnings per share came in at 80 cents compared with 58 cents in the year-ago quarter.
Revenues
Sales in the quarter jumped 4% year over year to $1,032.6 million from $992.7 million in the year-ago quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lifeway Beats, Initiates Dividend

Posted: 16 May 2012 06:03 AM PDT

Lifeway Foods Inc.(NASDAQ:LWAY) posted earnings of 7 cents per share in the first quarter of 2012, edging out the Zacks Consensus Estimate by a penny, but lagging the year-ago quarter earnings of 12 cents per share. The better-than-expected results were attributable to double-digit top-line growth.
Lifeway Foods primarily engages in manufacturing dairy and non-dairy health food products. The company reported gross sales of $21.6 million in the quarter, up 13.0% year over year. The upside in revenue … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Gets A Lift From Housing Data

Posted: 16 May 2012 01:00 AM PDT

05/16/12 Despite continued concerns over Greece, a better-than-expected reading in US housing starts helped pushed stocks into positive territory early Wednesday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hold The Champagne, Alaska Is Still No. 2 For Oil

Posted: 16 May 2012 05:55 AM PDT

There have been a lot of celebratory news reports in the last few days about North Dakota’s March oil production passing Alaska’s output to make North Dakota the No. 2 oil-producing state.  See examples in the WSJ, Washington Post, and Bloomberg.

However, the celebration might be a little premature.  According to the State of Alaska’s Division of Oil and Gas, Alaska produced 19.22 million barrels of oil in March, at a rate of 620,000 barrels per day.  That compares to 17.8 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SINA Reports Loss In 1Q

Posted: 16 May 2012 05:43 AM PDT

SINA Corp. (SINA) reported a loss of 21 cents per share in the first quarter of 2012, deteriorating drastically from the year-ago earnings of 25 cents per share. The weaker-than-expected result was primarily attributed to higher operating expenses in the quarter.
Including stock-based compensation of $3.8 million but excluding one-time items amounting to $4.1 million, loss per share stood at 27 cents, in line with the Zacks Consensus Estimate.
Quarter Details
Total revenue (excluding deferred … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dick’s Posts Solid 1Q

Posted: 16 May 2012 05:24 AM PDT

Dick’s Sporting Goods Inc.'s (NYSE:DKS), a full-line sporting goods retailer, first-quarter 2012 adjusted earnings per share jumped 50% to 45 cents a share from the year-ago level of 30 cents a share, surpassing the company's guidance range of 36 – 38 cents per share. Earnings per share also topped the Zacks Consensus Estimate by 7 cents per share.
Solid results in the quarter were mainly driven by increased sales resulting from opening of new stores, better-than-expected comps and improved … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodities Sold On Greece Woes, May Extend Losses On Fed Minutes

Posted: 16 May 2012 04:08 AM PDT

Talking Points

Crude Oil, Copper Sold on Greece Woes – Fed Minutes Key Ahead
Gold and Silver Vulnerable if Fed Minutes Dent QE3 Expectations

Commodity prices are trading broadly lower in European hours as risk aversion grips financial markets, weighing on sentiment-linked crude oil and copper prices while boosting the safe-haven US Dollar to put de-facto downward pressure on gold and silver. The sour mood comes after continued gridlock in Greece spurred the country's lawmakers to call for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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