DailyMarkets.com - G-8, Greece And Facebook Stay In Headlines

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• G-8, Greece And Facebook Stay In Headlines
• Murphy Issues $500M Notes
• RDY Adds To Generic Portfolio
• American Eagle To Exit 77kids Biz
• Orient Replaces Interim CEO
• Apache Hits Prolific North Sea Well
• College Presidents Vs. College Football Coaches
• Sugar’s Price Rebound May Be Stalling
• Earnings Preview: Costco
• Stock Market News Briefs: Autodesk, Salesforce.com Inc, Gap, Hibbett Sports
• Standard Motor To Repurchase Shares
• Alcoa Breaks Ground On New Facility
• Novartis Progresses With NVA237
• DOW Introduces POWERCORE In Brazil
• Tax Free Spin-Off Of Kraft Foods
• AIG’s Bad Asset Sale Put On Hold
• Tech Data Reports Mixed 1Q
• Yahoo To Divest Stake In Alibaba
• Earnings Preview: Hormel Foods
• Willis Group Upgraded To Neutral
• Hibbett Posts Solid 1Q
• JP Morgan’s Irv Goldman Thrown “Under The Bus”
• Happy Anniversary NYSE!
• Cosi Beats By A Penny
• “Let The Markets Tell You What To Do.”

G-8, Greece And Facebook Stay In Headlines Posted: 21 May 2012 07:59 AM PDT The weekend G-8 summit's supposed commitment to keep Greece within the Euro-zone may not amount to much in the absence of a favorable outcome from that country's fresh elections next month. But media reports appear to indicate that support for the centrist conservative party, which failed to get a majority in this month's election, to be improving. That said, it is too complicated for outsiders like us to try to handicap the Greek political scene. But irrespective of how the Greek story … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Murphy Issues $500M Notes Posted: 21 May 2012 07:59 AM PDT Murphy Oil Corporation (NYSE:MUR) sold $500 million of 4.0% notes maturing on June 1, 2022. The notes were offered at $99.786 (per $100.00 principal). Murphy Oil intends to utilize the proceeds to repay outstanding due under its existing credit facilities and for other general corporate purposes. The company borrowed from its credit facilities to repay the 10-year $350 million bond which matured on May 1, 2012. Murphy Oil's long-term debts as of March 31, 2012, of $249.6 million were flat with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RDY Adds To Generic Portfolio Posted: 21 May 2012 07:59 AM PDT Dr. Reddy's Laboratories (NYSE:RDY) has been busy launching generics and the recent U.S. launch of a generic version of Novatis AG's (NYSE:NVS) over-the-counter (OTC) drug, Prevacid, was the second one in less than a week. The U.S. Food and Drug Administration (FDA) approved the Abbreviated New Drug Application (ANDA) for 15 mg formulation of the generic drug. Prevacid is approved for the treatment of acid reflux disease and heartburn. According to the data of SymphonyIRI InfoScan Reviews, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

American Eagle To Exit 77kids Biz Posted: 21 May 2012 07:59 AM PDT American Eagle Outfitters Inc. (NYSE:AEO), a specialty retailer of casual apparel, accessories and footwear for men, women and kids, announced its plans to do away with its children's brand (77kids). The business generated net sales of $40 million in the fiscal year 2011, on which it incurred a loss of around $24 million. Management further said that the company will emphasize on their core business from now on, thus generating the best possible return. As a result, management had to take the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Orient Replaces Interim CEO Posted: 21 May 2012 07:59 AM PDT Hamilton, Bermuda-based, Orient-Express Hotels Ltd. (OEH) recently announced the appointment of board member Philip R. Mengel as the Chief Executive Officer (CEO) on an interim basis. Mengel replaces J. Robert “Bob” Lovejoy, who resigned from the post of interim CEO on professional grounds. He will now continue to serve as the Chairman of the company's board. J. Robert “Bob” Lovejoy has been playing the dual role of Chairman of the board and interim CEO over the past 10 months. Bob Lovejoy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apache Hits Prolific North Sea Well Posted: 21 May 2012 07:59 AM PDT Leading independent energy firm Apache Corporation (NYSE:APA) announced that an extension well drilled on the Beryl Field has encountered the highest initial production rate in the last ten years. Located in the U.K. North Sea, the B72 well was explored as a deviated well from the Beryl Bravo Platform. The well, through its three separate Jurassic aged reservoir units, registered a total of 619 feet measured depth of net oil pay. The well, which is termed as one of the best drilled since 2001, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

College Presidents Vs. College Football Coaches Posted: 21 May 2012 07:21 AM PDT 1.  A new list of the highest-paid public university presidents in 2011, from today’s Chronicle of Higher Education; E. Gordon Gee at Ohio State University is No. 1 at almost $2 million.  2. USA Today’s list of the highest-paid college football coaches in 2011, mostly at public universities.  Mack Brown at Texas is No. 1 at more than $6 million (with maximum … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sugar’s Price Rebound May Be Stalling Posted: 21 May 2012 06:43 AM PDT Monday, May 21, 2012 Some traders who are bearish on Sugar but who wish to limit their risk to their total investment in a trade may perhaps wish to explore the purchase of a bear put spread in Sugar futures options. For example, with July Sugar trading at 20.43 as of this writing, the July sugar 20.50 puts could be bought and the July 19.50 puts sold for a net debit of 0.40, or $448 per spread, not including commissions. The total investment in the trade would be the maximum potential risk on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Costco Posted: 21 May 2012 06:39 AM PDT Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, is slated to report its third-quarter 2012 financial results on Thursday, May 24. The current Zacks Consensus Estimate for the quarter is 87 cents a share that reflects a growth of 8.8% from the prior-year quarter's earnings. The estimates in the current Zacks Consensus range between a low of 81 cents and a high of 90 cents a share. The Zacks Consensus revenue estimate is pegged at $22,737 million for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Autodesk, Salesforce.com Inc, Gap, Hibbett Sports Posted: 21 May 2012 06:39 AM PDT     Facebook Inc (FB) faced a $15 billion lawsuit on Friday from its subscribers. The complaint filed on 17 May in a Federal Court at San Jose, California, accuses the company of infringing on users' privacy by tracking their Internet usage     Hibbett Sports, Inc. (NASDAQ:HIBB) posted first quarter earnings per share of $0.98, surpassing the Zacks Consensus Estimate of $0.92     Autodesk, Inc. (NASDAQ:ADSK) reported first quarter earnings per share of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Standard Motor To Repurchase Shares Posted: 21 May 2012 06:39 AM PDT Standard Motor Product Inc. (NYSE:SMP) announced that its Board of Directors has approved the repurchase of an additional $5 million of common stock under the existing share repurchase program. The newly approved authorization is an addition to the previously completed $5 million repurchase program authorized by the Board of Directors on August 25, 2011. Standard Motor will repurchase the shares periodically in the open market or through private transaction. It will be funded by the company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alcoa Breaks Ground On New Facility Posted: 21 May 2012 06:39 AM PDT Alcoa Inc. (NYSE:AA) announced that it has begun construction of its $90-million, 115,000 square-foot greenfield aluminum lithium expansion project of Lafayatte, Indiana facility that will produce state-of-the-art aluminum lithium alloy. The new facility is expected to start production by the end of fiscal 2014. The company's investment in the facility is supported by the Indiana Economic Development Corporation. The newly introduced alloy will help airplane manufacturers produce relatively … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Novartis Progresses With NVA237 Posted: 21 May 2012 06:39 AM PDT Switzerland-based pharmaceutical company, Novartis AG (NYSE:NVS) recently announced positive phase III data from the GLOW 2 study of its pipeline candidate NVA237. The candidate is being studied for the treatment of chronic obstructive pulmonary disease (COPD). The study showed rapid improvement in lung function and symptom relief over one year in COPD patients. Data from the phase III GLOW 2 study showed that once-daily NVA237 had a rapid onset of action at the first dose, which sustained 24-hour … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DOW Introduces POWERCORE In Brazil Posted: 21 May 2012 06:22 AM PDT Dow Chemical Company's (NYSE:DOW) wholly owed subsidiary Dow AgroSciences, introduced genetically modified corn strain called POWERCORE in Brazil.  POWERCORE is the first of its kind in Brazil and will prevent pests in corn. POWERCORE contains five genes stacked in corn for increasing its productivity. It will boost corn yield between 5% and 10% depending on the technological capabilities and weather conditions. The biggest advantage that the Brazilians will get by applying POWERCORE is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tax Free Spin-Off Of Kraft Foods Posted: 21 May 2012 06:22 AM PDT Kraft Foods, Inc. (NYSE:KFT) recently announced that the U.S. Internal Revenue Service ("IRS") issued a ruling which approves the tax free status to its pending spin-off into two independent public companies. Kraft Foods is in the process of separating into two independent public companies: a high-growth global snacks business and a high-margin North American grocery business. Global snacks will consist of the current Kraft Foods Europe and Developing Markets units as well as the North … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AIG’s Bad Asset Sale Put On Hold Posted: 21 May 2012 06:22 AM PDT The Federal Reserve Bank of New York ("Fed") postponed the sale of assets under the Maiden Lane III portfolio, acquired from American International Group (NYSE:AIG), as a part of its strategy to rescue the company from a financial downturn. However, Fed refused to disclose any reason for the delay. A probable reason for putting the asset sale on hold could be the requirement for greater transparency in the sale process by other brokers and dealers. However, the asset disposal has impacted the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tech Data Reports Mixed 1Q Posted: 21 May 2012 06:22 AM PDT Tech Data Corp. (NASDAQ:TECD) reported fiscal first quarter 2013 earnings of $1.24 per share, which surpassed the Zacks Consensus Estimate of $1.17 and increased 20.4% year over year. Quarter Details Total revenue in the quarter decreased 6.9% year on year to $5.89 billion and missed the Zacks Consensus Estimate of $6.18 billion. Unfavorable foreign currency negatively impacted the top line by 4.0%. Also, revised representation of sales of vendor warranty services and certain fulfillment contracts … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Yahoo To Divest Stake In Alibaba Posted: 21 May 2012 06:04 AM PDT Yahoo Inc. (NASDAQ:YHOO) has finally reached an agreement with the Chinese e-commerce firm Alibaba Group Holding Ltd., bringing an end to their long and bitter row. Per the agreement, Yahoo is entitled to sell up to half of its stake in Alibaba, or approximately 20% of its shares, back to the Chinese e-commerce company for about $7.1 billion, comprising at least $6.3 billion in cash and up to $800 million in newly issued Alibaba preferred stock. The deal also states that Alibaba will have to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Hormel Foods Posted: 21 May 2012 06:04 AM PDT Hormel Foods Corp. (NYSE:HRL) will be reporting its second-quarter 2012 earnings on Wednesday, May 23, 2012. The current Zacks Consensus Estimate for earnings per share is 42 cents, representing an annualized growth of 3.86%.   With respect to earnings surprises over the trailing four quarters, HRL outperformed the Zacks Consensus Estimate in two quarters and was in line in the rest.  Average earnings surprise was 2.62%, implying that the company outperformed the Zacks Consensus Estimate … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Willis Group Upgraded To Neutral Posted: 21 May 2012 06:03 AM PDT We are upgrading our recommendation on Willis Group Holdings plc (NYSE:WSH) to Neutral from Underperform on the back of solid first quarter results that benefited from improved top line coupled with lower expenses. Counting on the positives, organic growth in commissions and fees, which forms the major component of Willis' revenue, continues to post positive numbers. Growth of 2% in the first quarter was driven by strong new business growth and improving premium rates along with other favorable … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hibbett Posts Solid 1Q Posted: 21 May 2012 05:44 AM PDT Hibbett Sports Inc. (NASDAQ:HIBB) delivered robust results for the first quarter of fiscal 2013, buoyed by strong sales performance at every category along with operational efficiencies. Hibbett's first-quarter earnings of 98 cents per share outpaced the Zacks Consensus Estimate of 92 cents and jumped 29% from the prior-year quarter earnings of 76 cents. The company remains focused on mid-sized and smaller markets as well as strategic mix of branded and localized merchandise. It is geared toward … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JP Morgan’s Irv Goldman Thrown “Under The Bus” Posted: 21 May 2012 05:42 AM PDT I first heard the phrase "he got thrown under the bus" when working at Union Bank of Switzerland in 1997. Perhaps I was not listening carefully enough earlier in my career to detect just how management on Wall Street conveniently finds scapegoats during challenging times. I hated that phrase then and throughout my time on Wall Street. Why?  "Throwing somebody under the bus" struck me as the epitome of weak management shirking responsibility. We see a classic case of just such … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Happy Anniversary NYSE! Posted: 21 May 2012 05:32 AM PDT 05/21/12 NYFP’s “This Week in Wall Street History”: Happy anniversary to the NYSE as Todd Schoenberger of the BlackBay Group gives us a historical perspective of the Big Board through the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cosi Beats By A Penny Posted: 21 May 2012 05:24 AM PDT After missing the Zacks Consensus Estimate in the last three quarters, Cosi Inc.'s (NASDAQ:COSI) first quarter 2012 loss of 2 cents per share was ahead of the Zacks Consensus Estimate by a penny. Reported results also improved from the year-ago loss of 4 cents per share. The better-than-expected results were driven by strong top-line growth and margin expansion. Total revenue, which comprises company-operated restaurant sales and franchise fees and royalties, grew 4.1% year over year to $24.7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Let The Markets Tell You What To Do.” Posted: 21 May 2012 12:00 AM PDT 05/21/12 NYFP’s “Wall Street Lingo”: Louis Sulsenti of Pragma offers some advice to those looking to invest in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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