DailyMarkets.com - GM Recalls Aveo In China

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• GM Recalls Aveo In China
• Hot Option Plays: Look For Volume
• Retaining Celanese At Neutral
• MA Moves Ahead With Mobile Wallet
• Myriad Reiterated Neutral
• Allstate’s April CAT Loss Falls YoY
• Cardillo: “All About Euro…lots Of Fear Out There”
• IFF Remains In A Neutral Zone
• Dr. Reddy’s Launches Plavix’ Generic
• Oil Slide Continues On EU Debt Crisis Concerns
• Covidien Launches HALO90 ULTRA
• DIRECTV Opting For National Foothold
• In-line Fourth Quarter For Supertex
• Foreclosures Hit A Record Low
• TriQuint Settles Dispute With Avago
• Balanced View On American Capital
• Remain Neutral On Fiserv
• CAT Sales Trend Down, Shares Fall
• Accelrys Buys HEOS
• Lincoln Electric Buys Wayne Trail
• Robert Half Upgraded To Outperform
• Legg Mason Jumps On Buybacks
• Harris’ Falcon Wins Another Award
• Facebook Debuts Today On NASDAQ
• Michigan Economy Shifts Into High Gear As America’s Most Improved State Economy
• US Stocks Open Mixed, FB Takes Center Stage
• Progressive’s Net Income Falls
• Future Of American Manufacturing Looks Bright

GM Recalls Aveo In China Posted: 18 May 2012 11:47 AM PDT General Motors Company's (NYSE:GM) joint venture with Shanghai Automotive Industry Corporation (SAIC), Shanghai GM, will recall 47,415 units of Chevrolet Aveo cars in order to fix their faulty brake fluid sensors. The cars belong to the model year 2012. The General Administration of Quality Supervision, Inspection and Quarantine revealed that it is a supplier's fault. The defect could fail to alert drivers about low brake fluid levels. The company will fix the sensors free of charge. This is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Look For Volume Posted: 18 May 2012 11:45 AM PDT Cusick’s Corner 05-18-2012 The term capitulation (surrender or giving up) has been often used when referencing the latest market action. While this action has been negative, I have not seen the volume that might represent a bottom or “V” bottom setting up. Looking at late summer and early fall 2011 SPY charts, when the market turned north there were 300 million plus shares of daily volume in SPY. This negative action actually has been a positive to Gold, GLD, and in markets which have popped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Retaining Celanese At Neutral Posted: 18 May 2012 11:28 AM PDT We are reaffirming our Neutral rating on leading chemical maker Celanese Corporation (NYSE:CE) following its mixed first-quarter 2012 results. Its adjusted earnings of 72 cents a share missed the Zacks Consensus Estimate by a nickel. Sales moved up 3% year over year to $1.63 billion, beating the Zacks Consensus Estimate. Revenue growth was driven by higher pricing and volume in the Acetyl Intermediates and Industrial Specialties segments. However, softness in Europe impacted results in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MA Moves Ahead With Mobile Wallet Posted: 18 May 2012 11:17 AM PDT In line with the industry trend of expanding digital payments services, MasterCard Inc. (NYSE:MA) is preparing to bring a White Label Mobile Wallet solution jointly with C-SAM, a non-US based provider of turnkey solutions. The new solution comes just a week after the company launched PayPass Wallet Services. The offering will facilitate a quicker, secured and flexible mode of payment to mobile operators, bankers and payment providers across the Asia-Pacific, Middle East and the African region. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Myriad Reiterated Neutral Posted: 18 May 2012 11:17 AM PDT We have reaffirmed our Neutral recommendation on Myriad Genetics (NASDAQ:MYGN) following its third quarter fiscal 2012 results. Based on a strong quarter, the company raised its guidance for the current fiscal for the second time in the year. Myriad reported a strong third quarter with both revenues and EPS going past the Zacks Consensus Estimates. The company's flagship product, Bracanalysis, has been recording robust growth over the past few quarters on the back of increasing penetration in both … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Allstate’s April CAT Loss Falls YoY Posted: 18 May 2012 10:47 AM PDT Home and auto insurer, Allstate Corp. (NYSE:ALL) announced its pre-tax catastrophe (CAT) loss estimates for April 2012 yesterday, which is expected to be about $280 million. Besides, the company's CAT loss includes the effect of about 10 natural disasters. Although Allstate's April CAT loss estimates are higher than that recorded in the whole of first quarter of 2012, it is still meek figure when compared with $1.4 billion worth of CAT loss recorded in April last year. CAT losses stood at $259 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cardillo: “All About Euro…lots Of Fear Out There” Posted: 18 May 2012 10:40 AM PDT 05/18/12 Rockwell Global Capital’s Chief Market Economist, Peter Cardillo, talks the EU debt crisis, FB’s IPO and central bank monetary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

IFF Remains In A Neutral Zone Posted: 18 May 2012 10:27 AM PDT We recently maintained a Neutral recommendation on New York-based, International Flavors & Fragrances Inc. (NYSE:IFF), a creator and manufacturer of fragrance and flavor products. Operations are carried out in the United States and internationally.   The main causes that kept us on the sidelines were the company's first quarter 2012 results. Net earnings, which plummeted 3 cents year over year to $1.00 per share; however, were in line with the Zacks Consensus Estimate. Revenues … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dr. Reddy’s Launches Plavix’ Generic Posted: 18 May 2012 10:13 AM PDT Dr. Reddy's Laboratories (NYSE:RDY) recently announced the U.S. launch of a generic version of Bristol-Myers Squibb & Co.'s (NYSE:BMY) blood thinner, Plavix. The U.S. Food and Drug Administration (FDA) approved the Abbreviated New Drug Application (ANDA) for 75 mg and 300 mg formulations of the generic version of the drug. Plavix lost patent exclusivity in the U.S.  on May 17, 2012. Since Dr. Reddy's was among the first few companies to submit an ANDA for generic Plavix, it has the 180 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Slide Continues On EU Debt Crisis Concerns Posted: 18 May 2012 05:00 AM PDT 05/18/12 Front month crude prices continued to slide Friday afternoon as Greek political worries and Spanish banking concerns kept investors away from higher-yielding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Covidien Launches HALO90 ULTRA Posted: 18 May 2012 09:53 AM PDT International medical technology major Covidien plc (NYSE:COV) recently launched the HALO90 ULTRA Ablation Catheter in the U.S. and Europe. It is used for treating Barrett's esophagus, a precancerous condition caused by gastroesophageal reflux disease ("GERD"). It is also used to treat a disease known as 'watermelon stomach', characterized by chronic bleeding. The HALO90 ULTRA has an electrode attached to the end of an endoscope, which is used to gently remove the infected tissues and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DIRECTV Opting For National Foothold Posted: 18 May 2012 09:53 AM PDT DIRECTV Inc. (NASDAQ:DTV), the largest satellite TV operator in the U.S., recently entered into an agreement with ViaSat Inc. (NASDAQ:VSAT) and Huges Network Systems Inc. to install a nationwide satellite broadband network. The proposed network will enable DIRECTV to deliver data transmission speed of more than 10 Mbps, thereby supporting the company's video-on-demand offerings. DIRECTV will utilize ViaSat's newly launched Exede service and HughesNet Gen4 platform of Huges Network. With this network, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

In-line Fourth Quarter For Supertex Posted: 18 May 2012 09:38 AM PDT       Supertex, Inc. (NASDAQ:SUPX) recently posted a net income of $1.2 million or $0.11 per diluted share in the fourth quarter of fiscal 2012 compared with a net income $1.5 million or $0.12 per diluted share in the year-ago quarter and a net income of $0.09 million or $0.01 per diluted share in the previous quarter. The reported figure was in-line with the Zacks Consensus Estimate. Supertex reported net sales of $16.4 million in the fourth quarter of fiscal 2012, up 17% from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Foreclosures Hit A Record Low Posted: 18 May 2012 09:38 AM PDT In its monthly foreclosure market report, RealtyTrac stated that foreclosure activity in April 2012 fell to the lowest level since July 2007. According to this leading online marketplace of foreclosure properties, the foreclosure filings for the reported quarter dipped 5% from the prior month and 14% from the prior-year period, with a total of 188,780 properties receiving default, auction or repossession notices. Considerable decrease in hardest hit foreclosure states, such as Arizona, Nevada … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TriQuint Settles Dispute With Avago Posted: 18 May 2012 09:38 AM PDT TriQuint Semiconductor Inc. (NASDAQ:TQNT) recently settled its three-year old dispute with rival Avago Technologies Limited (AVGO). Both TriQuint and Avago have entered into patent cross licenses and agreed to dismiss all related litigation. Further, the companies have agreed to settle all claims between them.  The dispute started in 2009 when TriQuint filed a complaint in the United States District Court for the District of Arizona against Avago. In the complaint, TriQuint claimed that the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Balanced View On American Capital Posted: 18 May 2012 09:22 AM PDT We have reiterated our Neutral recommendation on American Capital Ltd. (NASDAQ:ACAS), following a detailed analysis of the company's fundamentals in light of the current economic environment. Also, the restructuring efforts by the company have contributed to this stance. In March 2012, American Capital announced an investment in equity in its portfolio company Halt Medical, Inc., a medical device company that focuses on women’s health. The additional financing by American Capital will support Halt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Remain Neutral On Fiserv Posted: 18 May 2012 09:02 AM PDT We continue to maintain our Neutral recommendation on Fiserv, Inc. (FISV). Judging by the degree of uncertainty the company still experiences with regard to competitive threats and clouded industry conditions, we think it wise not to be too upbeat about its future performance even with contract wins and strong quarterly results delivered of late. Fiserv continues to post approbatory yields in its quarterly financial results. On May 1, 2012, the company reported a 5.3% annual increase in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CAT Sales Trend Down, Shares Fall Posted: 18 May 2012 09:02 AM PDT Caterpillar Inc. (NYSE:CAT) recorded machines sales growth of 12% for the three months ending April 30, 2012, keeping up its 24-month run of positive sales growth. However, the sales growth has deteriorated from the lowest growth rate of 30% last year.  Growth slackened from 27% in January, 21% in February and 18% in March this year. Caterpillar shares fell 4% on the news. Caterpillar's growth rate of 30% in November 2011 hit the lowest point for that year. Caterpillar suffered the same … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Accelrys Buys HEOS Posted: 18 May 2012 09:02 AM PDT Earlier this week, Accelrys, Inc. (NASDAQ:ACCL) declared its purchase of Web-based Hit Explorer Operating System (HEOS) from drug manufacturing company, SCYNEXIS, Inc. This completed the contract entered into by both parties in 2011 for the marketing of HEOS using Accelrys' Cheminformatics Suite of software applications. The HEOS Software-as-a-Service (SaaS) platform induces better management and brings forth advanced research tools which provide celerity to drug development and discovery. These … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Lincoln Electric Buys Wayne Trail Posted: 18 May 2012 08:38 AM PDT Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has completed the acquisition of privately held automated systems and tooling manufacturer, Wayne Trail Technologies, Inc. The terms of the deal remain undisclosed. Based in Fort Loramie, Ohio, Wayne Trail Technologies is a leader in the design and supply of flexible, automated systems for metal forming, metal fabricating and metal joining applications. The company has annual sales of nearly $50 million. The acquisition is expected to fortify Lincoln … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Robert Half Upgraded To Outperform Posted: 18 May 2012 08:38 AM PDT We are upgrading our recommendation on Robert Half International, Inc. (NYSE:RHI) to Outperform from Neutral following robust first quarter 2012 earnings. Robert Half is one of the world's largest providers of temporary staffing, project professionals, and permanent placement services to the finance and accounting industries. The company delivered first quarter 2012 earnings of 34 cents per share which outperformed the prior-year earnings by 16 cents and the Zacks Consensus Estimate by 28 cents … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Legg Mason Jumps On Buybacks Posted: 18 May 2012 08:37 AM PDT A series of good news from Legg Mason Inc. (NYSE:LM) has led to a significant jump in its stock price in the past two days. On Wednesday, the company has announced its plan of repurchasing $1.25 billion in debt held by a fund which is managed by Kohlberg Kravis Roberts & Co. L.P. (KKR). Besides reducing its debt, Legg Mason has also declared a $1.0 billion authorization for share buybacks. During the quarter, the company intends to deploy the residual $155 million in share buybacks from its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Harris’ Falcon Wins Another Award Posted: 18 May 2012 08:18 AM PDT Harris Corp. (NYSE:HRS) recently won a contract worth $39 million from the U.S. Special Operations Command (USSOCOM) for Falcon III AN/PRC-152A wideband handheld tactical radios. The recent contract is a part of the $400 million agreement with the IDIQ, under which Harris will provide assistance regarding the upgradation of SOCOM's tactical radio stock. The remaining orders will be issued to Harris in the forthcoming months, hence increasing the company's order backlog in the upcoming … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Facebook Debuts Today On NASDAQ Posted: 18 May 2012 08:18 AM PDT Online social networking mogul Facebook (FB) is scheduled to start trading on the  Nasdaq Stock Market today at around 11.00 a.m. Yesterday, its much-hyped initial public offering (IPO) yielded approximately $16 billion from 33 investment banks, led by Morgan Stanley (NYSE:MS). Given Facebook's size, the investment banks underwriting the issue are expected to charge as much as 3% of the proceeds as their commission. At the time of IPO filing, Facebook's price band was $28 to $35 per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Michigan Economy Shifts Into High Gear As America’s Most Improved State Economy Posted: 18 May 2012 08:12 AM PDT The BLS released state unemployment rates today for April, and Michigan gets credit for the most improved state economy over the last year.  Michigan’s jobless rate fell from 10.5% in April 2011 to 8.3% last month, and that 2.2% drop was the largest April 2011-April 2012 jobless rate decline in the country. The chart above shows monthly jobless rates for Michigan and the U.S. back to 2000 and helps to illustrate how much the Michigan economy has improved in the last few years.  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Open Mixed, FB Takes Center Stage Posted: 18 May 2012 08:05 AM PDT 05/18/12 US equity markets edged higher after a mixed and flat open. Facebook’s IPO remained the highlight of the day, as markets anticipated shares of the social networking giant to begin … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Progressive’s Net Income Falls Posted: 18 May 2012 07:57 AM PDT Progressive Corp.'s (NYSE:PGR) earnings per share for April 2012 were 10 cents, down 45% from 18 cents in the comparable month, last year. Net income dropped 48% from April 2011 to $61.2 million in the reported month. Lower net investment income and higher expenses resulted in lower figures during the month. The company recorded net premiums of $1.67 billion in the month, up 9% from $1.54 billion in the year-ago month. Net premiums earned were $1.53 billion, up 7% from $1.43 billion in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Future Of American Manufacturing Looks Bright Posted: 18 May 2012 07:16 AM PDT Here are a few excerpts from my new article “Manufacturing in Our Favor: A Global Reallocation of Manufacturing” in the Spring issue of Business Horizons Quarterly, published by the National Chamber Foundation (U.S. Chamber of Commerce):   There were three related and important manufacturing trends that emerged in 2011: a) American manufacturing remained at the forefront of the United States' economic expansion for the second year in a row and re-established itself as one of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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