Tuesday, May 29, 2012

DailyMarkets.com - Perhaps Investor Sentiment Is Still Sufficiently Bearish

DailyMarkets.com - Perhaps Investor Sentiment Is Still Sufficiently Bearish

Perhaps Investor Sentiment Is Still Sufficiently Bearish

Posted: 29 May 2012 05:04 PM PDT

You know why you feel frustrated?  It's because the market for the past year has remained almost exactly level.  Today's close at 1332.42 is almost literally at the same level as the 1331.10 close on May 27, 2011.  And, interestingly … Continue reading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mylan, Sunovion Settle Patent Dispute

Posted: 29 May 2012 03:58 PM PDT

Mylan Inc. (NYSE:MYL) recently announced that it has entered into a settlement agreement with Sunovion Pharmaceuticals Inc., a subsidiary of Japanese pharmaceutical company, Dainippon Sumitomo Pharma Co., Ltd.
The patent litigation was related to Sunovion’s Brovana, which is approved for controlling the symptoms of chronic obstructive pulmonary disease (COPD), including chronic bronchitis and emphysema.
Sunovion recognized that Brovana infringed two of Mylan's patents, which are valid till June … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Qualcomm Sells Indian BWA Spectrum

Posted: 29 May 2012 03:58 PM PDT

The world's largest chipset manufacturer, Qualcomm Inc (NASDAQ:QCOM), is selling 49% of its Indian broadband business to Bharti Airtel – India's largest telecom operator by subscribers –  for about $165 million.
The deal is a part of the San Diego, California-based company's plan in India to disseminate the use of fourth generation super-fast wireless broadband service and then selling them to the local partners.
Qualcomm bought the licenses in an auction two years ago for more than … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mechel Retained At Underperform

Posted: 29 May 2012 03:58 PM PDT

We are maintaining our Underperform recommendation on Mechel OAO (NYSE:MTL). The company's revenues jumped 28.7% year-over-year to $12.5 billion in 2011. Its consolidated net income also grew from $657.2 million in 2010 to $727.9 million in 2011, a roughly 11% surge.
However, there is more about Mechel than what meets the eye as the threats and weaknesses are substantial enough to hinder its progress in the long-term.
The company witnessed growth across the board in 2011, overcoming headwinds in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Banking Industry Reports Quarterly Improvement

Posted: 29 May 2012 03:58 PM PDT

05/29/12 The FDIC quarterly report showed that the banking industry posted its highest earnings since 2007. Q1 2012 also saw a decline in the number of ailing US … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

NYSE Takes Over Corpedia

Posted: 29 May 2012 03:37 PM PDT

In order to expand global services for its issuer community, NYSE Euronext (NYSE:NYX) entered into a definitive agreement to acquire Phoenix-based consulting service provider Corpedia Corporation. The deal, terms still undisclosed, is expected to close next month. 
With the acquisition of Corpedia, which provides ethics and compliance e-learning and consultative services, NYSE will be able to provide its customers access to innovative products and improved services. Corpedia will not only … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Mills To Buy Brazilian Biz

Posted: 29 May 2012 03:37 PM PDT

General Mills Inc. (NYSE:GIS) recently announced that it has signed a definitive agreement to acquire private Brazilian food maker Yoki Alimentos for approximately 1.75 billion Brazilian reals.
Yoki, headquartered in Sao Bernardo do Campo, makes basic foods, popcorn, snack nuts, convenient meals, soups and seasonings and other fast growing food categories under nine brands, including the popular Yoki and Kitano brands.
Yoki, which employs 5,000 people, is expected to expand General Mills' … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Housing, Fed Speeches In Spotlight

Posted: 29 May 2012 03:20 PM PDT

05/29/12 US pending home sales will be closely watched, along with a handful of Fed speeches. EIA oil inventories will be released on Thursday, given the holiday shortened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Alfac Opens Support Service Unit

Posted: 29 May 2012 03:17 PM PDT

Alfac Inc. (NYSE:AFL) launched Aflac Benefits Solutions ("ABS") with an intention of offering specialized services to major brokerage firms.
The subsidiary is based in Atlanta. ABS will provide the service with the help of business developers who are experienced in the field, along with consultants, strategic account marketers and account service executives, in order to augment the current support system.
ABS is designed to enhance the services provided to regional and mid-tier brokerage … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sears Canada Remodels Four Stores

Posted: 29 May 2012 03:17 PM PDT

Sears Canada Inc., a unit of the cash-strapped broadline retailer Sears Holdings Corporation (NASDAQ:SHLD), is working to attract customers with a renewed focus on customer service and modifications in its store layout and merchandising.
Sears Canada has announced that it will inaugurate four remodeled stores in Ontario on May 25, 2012. The stores, located at Barrie, Belleville, Newmarket and at the Lime Ridge mall in Hamilton, will have wider passageway, reduced disorder and modernized merchandise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Another Contract For CSC

Posted: 29 May 2012 03:17 PM PDT

This time it's a transportation contract for the computing major Computer Sciences Corporation (NYSE:CSC). The company recently announced that it has been awarded one of six prime contractors in the Traffic Management Infrastructure Systems program contract by the U.S. Government's Transportation's Department.
It is an indefinite delivery, indefinite quantity (IDIQ) contract, which has been awarded to the company during its fiscal 2012 third quarter, and has a performance period of five … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

6 Swing Trade Setups To Watch On Wednesday May 30th

Posted: 29 May 2012 03:11 PM PDT

( click to enlarge )

Shares of Skyworks Solutions Inc (NASDAQ:SWKS) edged higher on stronger than usual volume. The stock price closed above the 50-day moving average of $26.33. As long as prices remain above the moving average key indicator, traders will view this development as a sign of strength. In addition, today’s stock price for SWKS ranged between $25.81 and $27. Based on the pivot points the current support and resistance levels for Skyworks Solutions are $26.33 and $29.01

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

Mixed Panel Vote On Pfizer Drug

Posted: 29 May 2012 02:58 PM PDT

Pfizer Inc.'s (NYSE:PFE) rare disease candidate, tafamidis meglumine, recently came up for review before the US Food and Drug Administration's (FDA) Peripheral and Central Nervous System Drugs Advisory Committee. Pfizer is looking to get tafamidis approved for transthyretin familial amyloid polyneuropathy (TTR-FAP) in adult patients with symptomatic polyneuropathy to delay neurologic impairment.
The committee said that it did not find enough evidence of efficacy on a clinical endpoint. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Check-In Kiosk From NCR

Posted: 29 May 2012 02:58 PM PDT

In a bid to diversify its operation, renowned ATM manufacturer NCR Corp (NYSE:NCR) has come up with a new hotel check-in kiosk named NCR Express Key. The new kiosk is expected to facilitate the process of hotel check-in for guests who have checked in online or through mobile, wherein they can collect their room key without having to queue at the reception.
NCR Express Key is an initiative of NCR Travel, a division of NCR that is currently focused on developing solutions to tap the potential in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Meritor Remains Neutral

Posted: 29 May 2012 02:58 PM PDT

We have reiterated our Neutral recommendation on Meritor Inc. (MTOR) for the long-term as the company continues to benefit from strong global truck demand but we are concerned about significant customer concentration risks faced by the company.
Meritor is planning to extend its footprint into low-cost countries (especially China and India). The company is also focusing on OEMs based elsewhere in Asia and South America. It aims to achieve around $1 billion in revenues from Asian countries in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PRU Expands Dental Insurance Biz

Posted: 29 May 2012 02:58 PM PDT

U.S.life insurer Prudential Financial Inc. (NYSE:PRU) has expanded its dental insurance service offering across all fifty states in the U.S.
The enhanced geographical reach, through 190,000 provider locations, will make it more convenient for anyone to buy their preferred dental plan anywhere across America.
Prudential's dental coverage is mainly intended for small businesses and is available under two plans – Preferred Provider Organization ("PPO") and Indemnity Plans.
As part of the PPO … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Delcath Prices Stock And Warrants

Posted: 29 May 2012 02:43 PM PDT

Specialist producer of pharmaceutical and medical devices for oncology, Delcath Systems Inc. (NASDAQ:DCTH) recently announced the pricing of an underwritten public offering of 13,333,340 shares of its common stock at $1.50 a share.
The company also priced warrants that entitle holders to purchase up to 4,000,002 shares at an exercise price of $1.65 a share. The offering will generate gross proceeds of $20 million.
After the deduction of underwriters' discounts and estimated offering expenses, this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fitch Affirms Dow’s Ratings

Posted: 29 May 2012 02:43 PM PDT

Last week, Fitch Ratings announced that it is maintaining the long-term Issuer Default Rating (IDR) of The Dow Chemical Company (NYSE:DOW) at 'BBB.' It also affirmed the company's senior unsecured revolving credit facility and senior unsecured debt ratings at 'BBB.' The ratings outlook was kept as 'Stable' by the ratings agency.
The ratings have been reaffirmed, keeping in mind Dow's stature as the largest North American chemical company and revenues of around $60 billion generated … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Radiology Deal For Merge

Posted: 29 May 2012 02:43 PM PDT

In a concerted effort to tap the growing market for electronic health record (“EHR”), imaging and interoperability solutions provider Merge Healthcare (NASDAQ:MRGE) recently struck another deal with a national radiology group Lakeland Healthcare. As per the deal, Lakeland Healthcare group will deploy Merge's entire suite of cloud-hosted radiology solutions to meet the "Meaningful Use" need as well as to improve workflow.
The Lakeland Healthcare group is a multi-site practice with two regional … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

WPP Plc. Partners With Microsoft

Posted: 29 May 2012 02:43 PM PDT

Ireland-based advertising agency WPP Plc. (NASDAQ:WPPGY) recently penned a partnership agreement with Microsoft (NASDAQ:MSFT) Advertising. The contract will be given effect through the company's global advertising entity, 24/7 Media. This was done with the clear intent of enlarging the client-base of both companies through providing enhanced digital advertising services.
Under the pact, 24/7 Media's services will be integrated with Microsoft Advertising's advanced solutions which would not only … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: NCI Building

Posted: 29 May 2012 02:42 PM PDT

NCI Building Systems, Inc. (NYSE:NCS) is slated to report its second-quarter fiscal 2012 results on May 30. The Zacks Consensus Estimate for the quarter is a loss of 39 cents per share, representing an estimated year-over-year increase of 18.75%. Revenues, as per the Zacks Consensus Estimate, are $243 million.
First Quarter Synopsis
The company, in the first quarter (ended January 29, 2012), reported adjusted loss of 32 cents per share, narrower than the Zacks Consensus Estimate of a loss of 69 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rating Action On Aflac

Posted: 29 May 2012 02:23 PM PDT

A.M. Best Co. reiterated issuer credit rating ("ICR") of "a-" of Aflac Inc. (NYSE:AFL). The rating agency also affirmed the present debt ratings of the company.
Concurrently, A.M. Best reiterated the financial strength rating ("FSR") of A+ (Superior) and ICR of "aa-" of American Family Life Assurance Company of Columbus (Omaha, NE), American Family Life Assurance Company of Columbus(Japan Branch), American Family Life Assurance Company of New York (New York, New York) and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Correction In Precious Metals And Miners Creates Buying Opportunity

Posted: 29 May 2012 02:22 PM PDT

Recently the gold and silver miners have been outperforming the S&P 500 indicating that we may be seeing the rotation from overvalued equities into the undervalued miners. This is occurring on large volume indicating major investors are beginning to enter the deeply undervalued sector.  The gold miners appear to be reversing on high volume indicating that we are seeing major accumulation at these price levels. A few bullish, high volume reversal days within a couple of weeks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Equity Residential To Acquire Archstone

Posted: 29 May 2012 02:22 PM PDT

Equity Residential (NYSE:EQR), a real estate investment trust (REIT), has recently signed a binding purchase agreement with the affiliates of Bank of America Corporation (NYSE:BAC) and Barclays Bank PLC (NYSE:BCS) to acquire their remaining ownership stake of 26.5% in Archstone for $1.58 billion in cash.
Archstone is a private company which owns, operates and develops multifamily apartment properties. It was owned by a consortium of financial institutions including Bank of America, Barclays, and the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valeant’s Acquisition Spree Continues

Posted: 29 May 2012 02:22 PM PDT

Valeant Pharmaceuticals International, Inc. (NYSE:VRX) recently announced that it has entered into an agreement to acquire certain assets from Swiss Herbal Remedies Limited for less than one-time sales. The deal is expected to close by June 2012, subject to the fulfilment of certain regulatory conditions.
The acquired assets generated net revenues of 28 million Canadian dollars in 2011. Swiss Herbal's portfolio comprising a broad range of scientifically formulated vitamins, minerals and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Sohu’s New MMO In Beta

Posted: 29 May 2012 02:22 PM PDT

Sohu.com's (NASDAQ:SOHU) online gaming subsidiary Changyou.com (CYOU) recently announced the open beta version of the upcoming new game Tao Yuan. Players will be able to access the game from May 24, 2012 onward.
Based on the legends of the Three Kingdom period, Tao Yuan is a turn-based massively multiplayer online role-playing game (MMORPG) developed by using the Unreal 3 game engine. In turn-based games fights between players take place in turns. Turn-based games are more strategic in nature as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Judge OKs JPM’s Overdraft Settlement

Posted: 29 May 2012 02:22 PM PDT

Last week, the U.S. District Judge in Miami preliminarily approved JPMorgan Chase & Co.'s (NYSE:JPM) $110 million overdraft fees settlement agreement. This settlement will take place between the company and more than one million plaintiffs who accused the bank of charging high overdraft fees.
Earlier, in February, The U.S. District Court of Southern Florida (Miami) had directed JPMorgan to disburse $110 million to resolve a class lawsuit pertaining to the charging of inappropriate overdraft … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dell Closes Twin Acquisitions

Posted: 29 May 2012 02:08 PM PDT

After a disappointing first quarter, the world's third largest PC maker by shipment, Dell Inc. (NASDAQ:DELL) recently confirmed the completion of two of its most sought-after acquisitions. The acquisitions of two cloud-software providers – Make Technologies and Wyse Technologies – were announced in April. Both deals, the financials of which were kept confidential, were crucial for building Dell's position in the software vertical.
California-based Wyse Technology is a provider of thin client … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Toyota Focuses On Emerging Markets

Posted: 29 May 2012 02:08 PM PDT

Toyota Motor Corp. (NYSE:TM) revealed that it would introduce eight compact car models in the emerging markets including Brazil, China, India and Indonesia by 2015 in order to catch up with the leading automakers in the markets, including Volkswagen AG (VLKAY), General Motors Company (NYSE:GM) and Hyundai Motor Co. (HYMLF).
The Japanese automaker aims to boost its sales in the emerging markets to 50% of global sales from 45% in 2011 and 18.6% in 2000. This is a part of the company's target to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Berkley’s New Managing Agent At Lloyd’s

Posted: 29 May 2012 02:08 PM PDT

W. R. Berkley Syndicate Management Limited, a unit of W.R. Berkley Corp. (NYSE:WRB) has been authorized by the UK Financial Services Authority ("FSA") to act as a Lloyd's managing agent.
Lloyd's of London is an insurance market platform conducting business in over 200 countries and territories around the world. It is often the first to write new, complex and unusual risks. Here members join together as syndicates to insure and reinsure risk. These syndicates comprising individuals or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Omnicell Completes MTS Acquisition

Posted: 29 May 2012 02:08 PM PDT

In a bid to strengthen its foothold in the international market, Omnicell, Inc. (NASDAQ:OMCL), a leading developer and marketer of end-to-end automation solutions for the medication-use process, recently completed the acquisition of MTS Medication Technologies, Inc., a global medication adherence packaging systems provider.
Following the acquisition, MTS Medication will operate as a wholly-owned subsidiary of Omnicell but with the same brand name.
Earlier on May 2, 2012, Omnicell entered into this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

General Dynamics Stays Neutral

Posted: 29 May 2012 02:08 PM PDT

General Dynamics Corporation (NYSE:GD) posted mixed results for the March quarter, surpassing the Zacks Consensus Estimate on the top line but missing the forecast at the bottom. Looking forward, key drivers include the improving business jet market, its stable business of U.S. military vehicles, a backlog of over $55 billion, an ongoing share repurchase program and strong cash flow generation.
However, the company is largely tied to the U.S. defense budget, where the threat of budget cut is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SurModics Is An Outperformer

Posted: 29 May 2012 02:08 PM PDT

We recently upgraded SurModics Inc. (NASDAQ:SRDX) to Outperform from Neutral following its impressive showing in the second quarter of fiscal 2012 (ended March 31, 2012). Our decision is justified by the Zacks #2 Rank (Buy rating) carried by the company in the short run.
SurModics' second quarter fiscal 2012 adjusted earnings of $0.14 per share beat the Zacks Consensus Estimate by $0.02. The earnings beat was attributable to higher-than-expected revenues. Given SurModic's strong product … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks See Triple-digit Rise

Posted: 29 May 2012 02:00 PM PDT

05/29/12 Despite a disappointing reading in consumer confidence data, US stocks traded higher Tuesday on rising optimism over Greece’s likelihood to remain in the euro … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

There’s No Place Like America

Posted: 29 May 2012 02:00 PM PDT

A conference with CEOs from around the globe recently brought me to Europe—the center of Western Civilization, the cradle of democracy, innovation and creativity, and the crux of today's debt crisis. In Siena, I came across a medieval reminder of the effects of good and bad government inside the Palazzo Pubblico among the beautifully painted frescoes.
One mural, "The Allegory of Good Government," personifies the virtues of justice, peace, virtue and wisdom, emphasizing the importance of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

RIMM Plans Another Restructuring

Posted: 29 May 2012 01:47 PM PDT

Struggling Canadian smartphone manufacturer Research In Motion Limited (NASDAQ:RIMM) is preparing for another round of restructuring, which could reduce its global workforce by 2,000. We believe that the poor performance of the company – facing market share declines due to stiff competition from Apple Inc's (NASDAQ:AAPL) iPhone and Google Inc's (NASDAQ:GOOG) android based smartphone – is the primary reason for the layoffs.
This is the second time in almost a year that the company is reducing its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Altria Settles Issues With IRS

Posted: 29 May 2012 01:47 PM PDT

Altria Inc. (NYSE:MO), the world's leading cigarette manufacturer and the owner of the popular brand Marlboro, has entered into an agreement to settle all its disputes with the Internal Revenue Service (IRS).
The company will pay approximately $500 million for federal and state income taxes as well as the related estimated interest to settle the dispute with the IRS. Out of the $500 million, Altria will pay $450 million by the end of the second quarter of 2012, pertaining to the federal income … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Lions Gate

Posted: 29 May 2012 01:47 PM PDT

Lions Gate Entertainment Corporation (NYSE:LGF), which produces and distributes motion pictures for theatrical and straight-to-video release, and television programming for cable and broadcast networks, will release its fourth-quarter 2012 financial results on Wednesday, May 30, 2012.
The Zacks Consensus Estimate for fourth-quarter 2012 stands at 19 cents, with broker estimates within the consensus ranging between a high of 48 cents and a low of 7 cents. The estimate reflects a decline of 26.9% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CEMIG Provides 2012-2016 Guidance

Posted: 29 May 2012 01:28 PM PDT

Companhia Energetica de Minas Gerais (NYSE:CIG), also known as CEMIG, recently announced its financial guidance for the period 2012-2016.
The company's distribution unit, CEMIG D is expected to post healthy results in the years ahead, driven by healthy domestic demand. Energy distribution in the retail market (captive market) is expected to escalate from an estimated 24.0-25.2 TWh range in 2012 to 26.3-29.0 TWh range in 2016; while its total energy distribution (Captive+Free) is likely to rise … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stryker Retained At Neutral

Posted: 29 May 2012 01:28 PM PDT

We reaffirm our Neutral recommendation on Stryker Corp. (NYSE:SYK). Its earnings for first-quarter fiscal 2012 were in line with the Zacks Consensus Estimate while its revenues beat the forecast.
Stryker reported first quarter fiscal 2012 adjusted earnings of 99 cents per share, in line with the Zacks Consensus Estimate and surpassing the year-ago earnings of 90 cents per share. Adjusted earnings exclude restructuring expense of $12 million and integration and acquisition-related expense of $17 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Unfavorable Ruling For MasterCard

Posted: 29 May 2012 01:13 PM PDT

MasterCard Inc. (NYSE:MA) recently received an unfavorable ruling in a case in Europe's second-highest court against the European Commission pertaining to violation of antitrust rules over cross-border card fees. European Commission indicted MasterCard of charging its consumers unreasonably for the payment of transaction fees and the court backed this decision.
The company was also accused of miscalculating the cost as well as misinterpreting the advantages derived therein. MasterCard defended … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

“Underperform” On Vale

Posted: 29 May 2012 01:13 PM PDT

We have downgraded our recommendation on Vale S.A (VALE) from Neutral to Underperform.
We are concerned about the current global instability and slower-than-expected worldwide growth rate, largely affecting worldwide demand for steel. The international iron ore market being highly volatile, we are anxious about its continued impact on the company's financial results.
Moreover, the metals and minerals market is intensely competitive. This stimulates need for improvement of iron ore grades, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Xcel Stays Neutral

Posted: 29 May 2012 12:52 PM PDT

We reiterate our Neutral recommendation on Xcel Energy Inc. (NYSE:XEL). The company is a frontrunner in the utility industry providing environmentally friendly efficient energy solutions to its customers in the U.S.
The company keeps track of its growth momentum by reinvesting capital in infrastructural assets like transmission lines and electric poles. Besides, it constantly upgrades safety measures at its nuclear plant facilities to avoid unmitigated disasters. The company is also investing in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ABB’s GMDs For Kazakhstan Copper Mills

Posted: 29 May 2012 12:52 PM PDT

ABB Ltd. (NYSE:ABB) received an order valued at $44 million from Kazakhmys plc (Kazakhmys) in southeastern Kazakhstan to provide three gearless mill drive systems (GMDs) for a new copper mine. GMD's provide reliable, cost-effective ore extraction and processing for new copper mine.
Kazakhmys is the leading copper producer in Kazakhstan and one of the major producers in the world. ABB won this contract in the first quarter of 2012.
Kazakhmys' Aktogay sulphide complex, located about 450 km … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

SunPower To Underperform

Posted: 29 May 2012 12:32 PM PDT

We maintain our Underperform rating on SunPower Corporation (NASDAQ:SPWR). The company operates in an industry that has moved from a supply-driven to a demand-driven environment, with increasing competitive pressure, as the photovoltaic industry's total manufacturing capacity exceeds the current demand for solar modules.
Currently, the average selling price (ASP) of SunPower's solar modules dropped sharply in the residential and commercial segments due to an industry-wide oversupply glut. These … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nat Gas Rig Count Hits New 10-Yr Low

Posted: 29 May 2012 12:32 PM PDT

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE:BHI) reported a dip in the U.S. rig count (number of rigs searching for oil and gas in the country).
This can be attributed to cutbacks in the tally of gas-directed rigs, partially offset by increase in oil and miscellaneous rig counts. In particular, the natural gas rig count dropped for the seventeenth time in 20 weeks to touch a new 10-year low, while oil drilling jumped to another 25-year high.
The Baker … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

S&P Lowers Ford Issue Ratings

Posted: 29 May 2012 12:12 PM PDT

Standard & Poor's Ratings Services has downgraded its issue rating on Ford Motor Co.'s (NYSE:F) revolving credit facilities of $9.3 billion to 'BB+' from 'BBB' citing that the company's bank facilities are unsecured following the release of the collateral on May 22, 2012. The credit facilities include $9 billion due November 2015 and $300 million due November 2013.
Ford succeeded in reclaiming its collateral for $23.5 billion loan, including the blue oval logo that is embossed on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Kraft Foods Shareholders OK Mondelez

Posted: 29 May 2012 12:12 PM PDT

Kraft Foods, Inc. (NYSE:KFT), which is in the process of splitting into two independent companies, a global snacks company and a North American grocery company, recently announced that its shareholders have approved the name Mondelez International, Inc. for the global snacks business. More than 90% of the shareholders who cast their votes favored the new name. Mondelez literally means a delicious world.
Following the split, global snacks will consist of the current Kraft Foods Europe and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CONSOL Upgraded To Neutral

Posted: 29 May 2012 11:52 AM PDT

We have upgraded CONSOL Energy (NYSE:CNX) to Neutral from Underperform as its decision to invest more in liquid rich assets and shy away from natural gas activities bodes well in the present depressed gas price scenario.
CONSOL Energy's deep and diversified portfolio, primarily comprising coal and natural gas, is well positioned to cater to worldwide energy demand. CONSOL’s low-cost coal producing profile in northern Appalachia works to its advantage.
CONSOL posted a mixed performance in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cepheid Expands European Portfolio

Posted: 29 May 2012 11:52 AM PDT

Last week, Cepheid (NASDAQ:CPHD) expanded its portfolio in Europe with CE Mark approvals of both Xpert CT/NG and Xpert CT tests. The company expects to begin shipments of the two tests shortly. The tests that will run on Cepheid's flagship GeneXpert system are meant to detect and differentiate between Chlamydia trachomatis ("CT") and Neisseria gonorrhoeae ("NG"). These tests are capable of detecting results within 90 minutes thus aiding the treatment process.
The company was expecting the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Talisman Wins Malaysian Deal

Posted: 29 May 2012 11:32 AM PDT

Talisman Malaysia Limited – an affiliate of Talisman Energy (NYSE:TLM) has won a new production sharing contract (PSC) from the national oil company of Malaysia – Petroliam Nasional Berhad or PETRONAS.
Per the agreement, Talisman will be engaged in production, development and enhancement of oil recovery from the Kinabalu oil fields in Malaysia. The acreage, which consists of Kinabalu Main, Kinabalu East and Kinabalu Far East fields and offshore Sabah, consist of several mature fields, with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Telefonica Brasil Downgraded

Posted: 29 May 2012 11:13 AM PDT

We have downgraded our long-term recommendation from Neutral to Underperform on Brazilian telecom carrier Telefonica Brasil SA (NYSE:VIV) following its first quarter results. The company's first quarter earnings missed the Zacks Consensus Estimate on struggling fixed-line business.
Though the currently lagging fixed-line business is expected to benefit from the expansion of video, broadband Internet and Pay TV services, we remain skeptical about its ability to regain profitability this year. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CNOOC Finds Oil At Luda

Posted: 29 May 2012 10:53 AM PDT

Chinese energy company CNOOC Limited (NYSE:CEO) has struck a new oil discovery − Luda (LD) 21-2 − in the country's south Liaodong Bay in Bohai.
Located in the inverted structure belt of LD 22-27 in south Liaodong Bay, the LD 21-2-1D well has unearthed oil pay zones with total thickness of 170 meters at a depth of 2,831 meters under water and approximately 20 meters adjoining the producing LD 27-2 oilfield.
CNOOC confirmed that the well has generated around 608 barrels of oil per day on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Tiffany

Posted: 29 May 2012 10:53 AM PDT

Tiffany & Company (NYSE:TIF), a high-end jewelry designer, manufacturer and retailer, posted lower-than-expected first-quarter 2012 bottom-line result. The disappointment reflected dismal performance in the Americas region due to soft demand for jewelry. Given the weaker-than-expected results and sluggish economic recovery in most of the countries, management trimmed its fiscal 2012 outlook.
In the paragraphs that follow, we cover the recent earnings announcement, subsequent estimate revisions … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Euro Losing Support

Posted: 29 May 2012 10:47 AM PDT

Cusick’s Corner 05-29-2012
Equity action has been to the upside, S&Ps +.56%, but the Euro Currency, FXE -.33%, has broken critical support of $1.25 which is one of those flags that I try to keep an eye on. Here is what’s potentially flagging support in the Dollar, UUP +.09% — pressure on the metals, SLV -2.03%, so monitor these markets too. Still want to see upside thresholds broken, 1340 on the S&Ps, before there is any talk of this being nothing more than a bounce in a downtrend. See … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Discover Stays At Outperform

Posted: 29 May 2012 10:38 AM PDT

We maintain our Outperform recommendation on Discover Financial Services (NYSE:DFS) based on higher transaction and sales volumes along with record-low delinquency and charge-off rates. The company pursues a strong inorganic growth policy, which is expected to boost earnings and foster portfolio diversification.
Discover reported first-quarter earnings per share of $1.18, substantially ahead of the Zacks Consensus Estimate of 92 cents as well as 84 cents recorded in the year-ago quarter. Net … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fossil Stays At Neutral

Posted: 29 May 2012 10:38 AM PDT

We maintained a Neutral rating on Fossil, Inc. (NASDAQ:FOSL) following appraisal of the first quarter 2012 results.
Fossil posted earnings of 93 cents per share in the first quarter exceeding the prior-year earnings of 86 cents per share, driven by double-digit sales growth, foreign currency gains and lower share count. The results also exceeded the Zacks Consensus Estimate of 92 cents per share, and were above  management's guidance of 90-92 cents per share.
Worldwide net sales of Fossil … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Apple-Samsung Duel Intensifies

Posted: 29 May 2012 10:38 AM PDT

In order to maintain its market lead and provide significant competition to Apple's (NASDAQ:AAPL) iPhone, Samsung Electronics recently launched the third version of its popular Galaxy S smartphone.
Galaxy S3, which runs on Google's (NASDAQ:GOOG) Android 4.0 Ice Cream Sandwich operating system, will be available in 28 European countries including Germany, France and Britain from May 29, 2012 onward. Samsung recently said that its S3 will be available through 296 carriers in 145 countries by the end of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

PAY Teams Up With PayPal

Posted: 29 May 2012 10:38 AM PDT

VeriFone Systems, Inc. (NYSE:PAY) recently signed a comprehensive licensing, marketing and implementation agreement with PayPal.
The agreement is expected to accelerate retailer adoption of PayPal services while reducing bottlenecks in way of such adoption. PayPal is relying on VeriFone to deliver integration services and software licenses to the 10 to 12 tier 1 merchants, who have been strategically selected by PayPal. 
Based in San Jose, California, VeriFone designs, markets and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Auxilium Pharma Sues Watson

Posted: 29 May 2012 10:17 AM PDT

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) and FCB I LLC recently filed a patent infringement lawsuit against Watson Pharmaceuticals (NYSE:WPI) and its subsidiary, Watson Laboratories, Inc. which is looking to launch a generic version of Auxilium Pharma's 1% testosterone gel, Testim.
Testim is the lead product at Auxilium Pharma. Testim sales came in at $207.9 million in 2011, accounting for 78.6% of the company's revenues. Testim's prescription share of the gel market was 20% in December … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude At Ease, Still Just Below $91

Posted: 29 May 2012 10:00 AM PDT

05/29/12 After a three-day holiday weekend, front month crude prices remained steady to start the week by trading just under $91 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dueling Consumer Confidence Reports

Posted: 29 May 2012 09:46 AM PDT

1. Last Friday, Thomson Reuters/University of Michigan reported that its consumer sentiment index increased in May for the ninth straight month.  That set 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.  Bloomberg reported that “A record number of households said they’d heard better news on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cameco Looking To Acquire Undervalued Uranium Miners

Posted: 29 May 2012 09:16 AM PDT

Stealthily and without much publicity from the media, developments in the nuclear industry are moving ahead.  While the Western nations are beset by their own economic  problems they continue to dither about the very source of cheap, inexpensive industrial energy namely the uranium miners.  
We note with interest the recent ok by the Nuclear Regulatory Commission for the construction of two nuclear facilities in South Carolina at a cost of $11 billion.  These plants are on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For ETF Trading On Wednesday, May 30, 2012

Posted: 29 May 2012 04:33 AM PDT

By ForexMansion.com

The Trend Trader for ETFs
For Trading On Wednesday, May 30, 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
110.86
− 0.05
110.86
110.89

Neutral

BND – Vanguard Total Bond Market ETF
84.03
0.00
84.01
84.01

Bullish

DBC – DB Commodity Index Tracking Fd
25.94
− 0.42
26.01
26.14

Bearish

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

The Trend Trader For Futures Trading On Wednesday, May 30, 2012

Posted: 29 May 2012 04:33 AM PDT

By ForexMansion.com

The Trend Trader for Futures
For Trading On Wednesday, May 30, 2012

INDICES

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

S&P 500 – Jun ESM2
1333.50
+ 1.41
1321.56
1310.67

Bullish

Dow Jones – Jun YMM2
12583
+ 1.24
12501
12434

Bullish

Nasdaq – Jun NQM2
2559.50
+ 1.41
2539.72
2516.83

Bullish

Russell – Jun TFM2
776.80
+ 1.53
769.44
760.27

Bullish

INTEREST RATES

US T-Bond – Jun ZBM2
147-26
+ … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Stock Trading On Wednesday, May 30, 2012

Posted: 29 May 2012 04:33 AM PDT

By ForexMansion.com

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

In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AA – Alcoa Inc
8.89
+ 3.01
8.68
8.56

Bullish

AXP – American Express Company
56.56
+ 1.34
56.16
55.95

Bullish

BA – Boeing Co
70.40
+ 0.57
70.59
70.62

Bearish

BAC – Bank of America Corporation
7.44
+ 4.06
7.23
7.07

Bullish

CAT – Caterpillar Inc
92.52
+ … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Forex Trading On Wednesday, May 30, 2012

Posted: 29 May 2012 04:33 AM PDT

By ForexMansion.com

The Trend Trader for Forex
For Trading On Wednesday, May 30, 2012

THE BIG SIX

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AUDUSD – Aust Dollar / US Dollar
0.9847
− 0.04
0.9817
0.9793

Bullish

EURUSD – Euro / US Dollar
1.2502
− 0.31
1.2537
1.2611

Bearish

GBPUSD – British Pound / US Dollar
1.5641
− 0.25
1.5669
1.5713

Bearish

USDCAD – US Dollar / Canadian Dollar
1.0222
− 0.14
1.0253
1.0251

Bearish

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