Wednesday, May 30, 2012

DailyMarkets.com - Starwood’s Luxury Brand In Jakarta

DailyMarkets.com - Starwood’s Luxury Brand In Jakarta

Starwood’s Luxury Brand In Jakarta

Posted: 30 May 2012 07:32 AM PDT

White Plains, New York-based Starwood Hotels & Resorts Worldwide Inc (HOT) is all set to expand in the Asia Pacific with its Luxury Collection brand. The company's Luxury Collection brand recently debuted in Jakarta with the inauguration of Keraton at Plaza; the capital of Indonesia.
This new hotel marks the 80th Luxury Brand hotel across the globe and first of the four hotels planned to open in Asia Pacific in the next six months. Out of the remaining three hotels in the pipeline, two … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Progressive Slides To Underperform

Posted: 30 May 2012 07:13 AM PDT

We are downgrading Progressive Corp. (NYSE:PGR) to Underperform from Neutral as the company continues to deliver lower net investment income and incur higher expenses.
Progressive's first quarter earnings surpassed the Zacks Consensus Estimate by three cents but fell below the year-ago quarter.  Lower net investment gains and higher expenses resulted in lower numbers during the quarter.
Despite lowering its combined ratios in the past few years, Progressive has started reporting a higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Netflix To Stream UFC In Canada

Posted: 30 May 2012 07:13 AM PDT

Netflix Inc. (NASDAQ:NFLX) has added some content specifically for its Canadian subscribers, who will now be able to stream both contemporary and classic matches from the Ultimate Fighting Championship (UFC), a mixed martial arts (MMA) program.
Netflix subscribers will be able to watch UFC programs like UFC Best Of, Ultimate KO, 100 Greatest Moments and Ultimate Heavyweights, as well as the documentary Bad Blood that features Canadian MMA stars like Mark Hominick, Rory MacDonald and Sam Stout along … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything. Or Not. No More Gender Based Price Discrimination In New York City

Posted: 30 May 2012 07:03 AM PDT

WSJ — “In New York City, 38 businesses have been hit this year for violating a little-known provision that has many pulling their hair: gender-pricing discrimination. The majority of violations so far this year—103—were issued to salons and barbershops.

The city’s Department of Consumer Affairs began stepping up enforcement of the law last year, when it issued 580 gender-pricing violations to businesses, more than double the 212 doled out the year before. “We wanted to really send a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Slides On Spain, Again

Posted: 30 May 2012 07:00 AM PDT

05/30/12 The euro touched its lowest level against the dollar since July 2010 as growing worries over Spain’s banks and borrowing costs kept investors fleeing the higher-yielding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Preview: Ciena Corp.

Posted: 30 May 2012 06:53 AM PDT

Telecommunications network specialist Ciena Corp. (NASDAQ:CIEN) is scheduled to release its fiscal second quarter 2012 earnings results before the opening bell on May 31, 2012. In the run-up to the earnings release, we do not notice any revision in analyst estimates.
Prior-Quarter Recap
Ciena reported first quarter loss per share of 26 cents, worse than the Zacks Consensus Estimate of a loss of 17 cents. Revenue of $416.7 million for the quarter not only decreased on a year-over-year basis but also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Encouraging Data On Lilly Drug

Posted: 30 May 2012 06:38 AM PDT

Eli Lilly and Company (NYSE:LLY) and partner Boehringer Ingelheim recently presented positive data on their type II diabetes drug, Tradjenta (linagliptin). The companies presented phase III data which showed that a significant reduction in hemoglobin A1c (HbA1c) levels were achieved in black or African American patients receiving Tradjenta (5mg, once-daily) compared to patients on placebo.
Patients in the Tradjenta arm achieved a reduction of 0.88% in HbA1c level compared to a reduction of 0.24% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: Bank Of Nova Scotia, Chesapeake Energy, Veriphone Holdings, Sanderson Farms

Posted: 30 May 2012 06:38 AM PDT

    Chesapeake Energy Corporation (NYSE:CHK) gained 3.4% after Carl Icahn reported a 7.6% stake in the company. He said the company's corporate governance is far from satisfactory and four board members need to be replaced

    Shares of VeriFone Systems Inc (NYSE:PAY) declined 6.3% after it responded to inventor inquires for additional details on cash flow for the six months ending April 30, 2012

    The Bank of Nova Scotia (NYSE:BNS) reported second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

For Today, The Pain Remains In Spain

Posted: 30 May 2012 06:38 AM PDT

Stocks will likely give back some of the Tuesday gains as concerns about Spain's ability to manage its banking problems take center stage. A credit rating downgrade of the country on an otherwise slow-news day will not help either. The domestic economic calendar is on the thin side today, as most of the top-tier economic reports are coming out on Thursday and Friday.

The market is keenly waiting for the May non-farm payroll report coming out Friday morning and the preview of that report in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Dollar And Yen Rally As Aussie Leads Commodity Currency Decline

Posted: 30 May 2012 06:36 AM PDT

Fundamental Headlines
- EU Weighs Direct Aid to Banks, Euro Bonds as Crisis Antidote – Bloomberg
- Euro Approaches Two-Year Low on Spanish Banks Concern – Bloomberg
- Stock Futures Fall as Spanish, Italian Yields Rise – Reuters
- ECB Opposes Spain Bank Idea – WSJ
- Russia, China Oppose Syria Intervention – WSJ
European Session Summary
The market appears to be correcting back in line with broader fundamentals after a quizzical bullish start to the week. In reality, the burst higher … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dollar Tree To Split Stocks 2-for-1

Posted: 30 May 2012 06:19 AM PDT

Leading discount stores operator, Dollar Tree Inc. (NASDAQ:DLTR) announced its intention to split its common stock to improve its liquidity while also enhancing shareholder value. Per the split announcement, the company will distribute two shares to shareholders for every single Dollar Tree share held as of the close of business on June 12, 2012.
The new shares under the 2-for-1 stock split will be distributed as a stock dividend on June 26, 2012. This will increase the company's total shares … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Wins Arbitration Award

Posted: 30 May 2012 06:03 AM PDT

Chemical giant Dow Chemical Company (NYSE:DOW) won $2.16 billion award as compensation from the International Court of Arbitration of the International Chamber of Commerce in a dispute with Petrochemical Industries Co. of Kuwait. The Court's ruling against Petrochemical Industries Co (PIC) of Kuwait is final and binding.
Kuwait backed out from the "K-DOW" joint venture as the economy went into a deep recession about four years ago. As a result, Kuwait cancelled its agreement to buy a stake … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Equities Slide On Gloomy European Outlook

Posted: 30 May 2012 01:00 AM PDT

05/30/12 Growing concerns over the stability of the European financial system has led the ay for an overall slide in global equities Wednesday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Eastman Gets EU Nod To Buy Solutia

Posted: 30 May 2012 05:47 AM PDT

According to Reuters, Eastman Chemical Company (NYSE:EMN) received approval from the European Commission for the purchase of chemical company Solutia Inc. (NYSE:SOA). As per the commission, the deal would leave the merged entity with strong competition in the market for polyvinyl butyral (PVB) sheet material.
Eastman's move to acquire Solutia – a global leader in performance materials and specialty chemicals – is a part of its expansion strategy. The company announced its plan to acquire … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Atlanta’s Housing Market: CRASH

Posted: 30 May 2012 05:41 AM PDT

As I pondered what to write this morning, I thought about addressing the 15% pullback in the price of gold over the last three months. What was happening to this supposedly safe haven? Despite this pullback, gold is still up 135% over the last 5 years. Time to look for a more interesting topic.
Let's turn our gaze to the southeast and address what can only be described as the CRASH of the Atlanta housing market.
While nationwide home prices were down 1.9% over the last 12 months, our home … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DryShips Reports Mixed 1Q

Posted: 30 May 2012 05:28 AM PDT

Yesterday after market close, DryShips Inc. (NASDAQ:DRYS) declared mixed financial results for the first quarter of 2012. Though DryShips' legacy drybulk shipping cargo division and newly formed oil tanker division continued with their disappointing performances, management is optimistic that the company's majority owned deepwater oil drilling unit OceanRig UDW Inc. (ORIG) will see growing momentum of drilling boom.
The drybulk shipping and oil tanker segments are suffering from over supply of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Commodities Sink As Market-Wide Risk Appetite Unravels Anew

Posted: 30 May 2012 02:30 AM PDT

Talking Points

Crude Oil, Copper Sink as Risk Appetite Unravels Across Financial Markets
Gold and Silver Sold as Haven-Seeking Capital Flows Drive US Dollar Higher

Commodity prices are trading sharply lower as risk aversion grips financial markets. Sentiment-sensitive crude oil and copper prices are following stocks lower while gold and silver face de-facto selling pressure as haven flows boost the US Dollar. The dour mood began to take shape in Asiaafter ratings agency Egan Jones downgraded … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

How To Protect Your Portfolio From Short Sellers In Market Downswings

Posted: 30 May 2012 01:23 AM PDT

In times of market volatility there's a dash to the safety of good, strong defensive stocks. The flow of funds as investors rotate their portfolios out of weaker stocks can be disastrous for anyone left holding the bag. While short selling is an art that very few practice, understanding the qualities of a good short sale candidate can ensure that you weed them from your portfolio avoiding the fate of so many in the process. These days identifying stocks at risk is much easier than you … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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