Daily Markets - Financial News & Opinions

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• US December Employment Report Preview
• CBS Corporation Upgraded
• Sears Surges On Upbeat Guidance
• MICROS Acquires TIG Global
• SunTrust Inflicts Salary Freeze
• Stock Market News Briefs: Alcoa Inc., Bank Of America Corporation, Citigroup Inc., Credit Suisse Group, Goldman Sachs Group, Inc. (The), Hewlett-Packard Company, Reynolds American Inc, Sony Corporation, Wells Fargo & Company, Microsoft Corporation, Sun Healthcare Group, Inc.
• Swiss Franc: Bullish Bias Above 102
• Japanese Yen: The Upside Prevails
• British Pound: Continuation Of The Rebound
• Euro: The Upside Prevails
• Monsanto Reports A Net Loss
• Forex Trading: GBPUSD Consolidates The Days Declines
• Sideways Markets, Covered Calls And The Russell 2000 Small Cap Index
• AT&T Joins Android Party
• Monster Says Job Losses Easing
• Forex Trading: AUDUSD Bouncing Higher After Correction
• Is The Fed Contributing To Market Instability?
• Forex Trading: EURUSD Still In A Range With A Bearish Bias
• Forex Trading: USDJPY Moves Toward Key Resistance Against 200 Day MA
• Mutual Funds: Top Energy Equity Funds
• Stock Buy: Phillips-Van Heusen Corp.
• Stock Buy: G-III Apparel Group Ltd.
• Bull Of The Day: Shutterfly, Inc. (SFLY)
• Stock Buy: Best Buy Inc.
• Bear Of The Day: Tessera Technologies (TSRA)
• Analyst Interviews: Metals & Mining Stock Review
• Stock Buy: Canadian Natural Resources Ltd.

US December Employment Report Preview Posted: 07 Jan 2010 07:45 AM PST Each month I draw upon my team’s original research to present a preview for the Payroll Employment Report.  This is not a prediction of the announcement to be made Friday morning.  It is better described as a forecast of the net change in payroll jobs once all of the data revisions are complete. I’ll start by explaining our approach and then preview some other estimates. Our Approach Each month we ask the question, “What change in payroll employment would be consistent with … [visit site to read more]

CBS Corporation Upgraded Posted: 07 Jan 2010 02:00 AM PST CBS Corporation's (CBS) strategic initiatives have helped it to weather the economic downturn. The company has been aggressively selling slow-growth radio stations in mid-sized markets to focus on the large markets that promise real growth. Moreover, the company has been paring its cost structure to protect its shrunken revenue base.  This has prompted us to upgrade our recommendation on CBS Corporation to Outperform from Neutral with a target price of $16.00. As the company divests … [visit site to read more]

Sears Surges On Upbeat Guidance Posted: 07 Jan 2010 01:45 AM PST   Sears Holdings Corp. (SHLD) offered upbeat financial guidance for the fourth quarter of fiscal 2009 after reporting growth in December same-store sales driven by Kmart. The company stated that fourth-quarter earnings is expected between $385 million and $465 million, or $3.36 to $4.06 per share, excluding extraordinary items. The guidance is well above the Zacks Consensus Estimate of $2.61 per share derived from 7 covering analysts. Shares of Sears Holdings have surged more than 13% … [visit site to read more]

MICROS Acquires TIG Global Posted: 07 Jan 2010 01:45 AM PST MICROS Systems, Inc. (MCRS) recently announced that it will acquire TIG Global, one of the leading interactive marketing companies.  Headquartered in Washington, DC, TIG Global serves the online needs of a diverse portfolio of clients located around the world.  Management stated that TIG Global's leading technology and focus on the hospitality and travel industry makes TIG the ideal partner for MCRS in providing best-in-breed solutions to clients on a worldwide basis. TIG … [visit site to read more]

SunTrust Inflicts Salary Freeze Posted: 07 Jan 2010 01:30 AM PST In compliance with the pay restrictions imposed on the company for participating in the Troubled Asset Relief Program (TARP), SunTrust Banks Inc. (STI) said in a regulatory filing on Wednesday that it has put in effect a salary freeze for all of its senior executives except one.  Atlanta-based SunTrust received federal assistance worth $3.5 billion as part of its participation in TARP during the height of the financial crisis. As a result, like other bailed-out firms, SunTrust's … [visit site to read more]

Stock Market News Briefs: Alcoa Inc., Bank Of America Corporation, Citigroup Inc., Credit Suisse Group, Goldman Sachs Group, Inc. (The), Hewlett-Packard Company, Reynolds American Inc, Sony Corporation, Wells Fargo & Company, Microsoft Corporation, Sun Healthcare Group, Inc. Posted: 07 Jan 2010 01:20 AM PST  General Motors’ CEO Whitacre promised the company’s first year of profitability in 2010 following five years of losses  Microsoft’s (MSFT) CEO Ballmer’s opening address in Las Vegas focused on the company’s touch-tablet from Hewlett-Packard (HPQ), planned for introduction this year  Sony (SNE) says the US holiday season was better than anticipated, on increased demand for flat-screen televisions, electronic readers and Blu-ray video players  Sun Healthcare … [visit site to read more]

Swiss Franc: Bullish Bias Above 102 Posted: 07 Jan 2010 06:17 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Upside Prevails Posted: 07 Jan 2010 06:17 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: Continuation Of The Rebound Posted: 07 Jan 2010 06:17 AM PST Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 07 Jan 2010 06:17 AM PST Update on supports and resistances. … [visit site to read more]

Monsanto Reports A Net Loss Posted: 07 Jan 2010 01:15 AM PST Monsanto Company (MON) reported results for the first quarter of 2010, which ended November 30, 2009, and reinstated its full-year guidance. Along with its quarterly earnings results, Monsanto also announced its annual research and development pipeline update.  Net sales decreased $952 million, or 36% year over year to $1,697 million in the first quarter of fiscal 2010 primarily as a result of decreased sales of glyphosate-based herbicides in Brazil and Europe. Monsanto reported a net … [visit site to read more]

Forex Trading: GBPUSD Consolidates The Days Declines Posted: 07 Jan 2010 06:07 AM PST The GBPUSD found the support earlier in the NY session at the 1.5894 and was able to extend above the 100 bar MA on the 5 minute chart (see prior post). However, the upside target at the 1.5957 (38.2% of the move down today held the decline and the price dipped back lower. Going forward the clues are likely to continue to come from the 100 bar MA at the 1.5930 level. IF the price can stay below, look for a test of the lows at the 1.5895 level. If the price moves above, 1.5957 may be … [visit site to read more]

Sideways Markets, Covered Calls And The Russell 2000 Small Cap Index Posted: 07 Jan 2010 06:01 AM PST I had originally thought that I might begin 2010 with a series of articles on covered calls and other ways of using options to generate additional returns during sideways market action. Since several other writers have already jumped on this subject (notably Jeff Opdyke of the Wall Street Journal in Covered Calls Prove Popular Strategy; Mark Wolfinger of Options for Rookies in Writing Covered Calls in 2010; and Adam Warner of Options Zone in When Is the Best Time to Use a Buy-Write?) I … [visit site to read more]

AT&T Joins Android Party Posted: 07 Jan 2010 06:00 AM PST AT&T's (T) foray into the Android cell phone market is set to begin as the largest telephone company in the US has announced its plan to sell devices based on Google's (GOOG) Android platform. The company expects to unveil five new smartphones from handset vendors including Dell (DELL), Motorola (MOT) and HTC in first-half 2010. AT&T will be the first US carrier to market Dell's new "Mini 3″ smartphone.  Android-based smartphones have generated significant buzz in … [visit site to read more]

Monster Says Job Losses Easing Posted: 07 Jan 2010 12:55 AM PST The Monster Employment Index, issued by online job-search giant Monster Worldwide (MWW), shows that the amount of jobs being lost in the U.S. is still rising, but in ever-smaller increments. The Monster Employment Index for December 2009 reached 115, four points lower than the November figure, and 12% below the December 2008 number of 131. According to Monster’s senior VP Jesse Harriott, “The decline in the Monster Employment Index during December is typical due to end-of-year seasonality. … [visit site to read more]

Forex Trading: AUDUSD Bouncing Higher After Correction Posted: 07 Jan 2010 12:31 AM PST In Australia last night, Retail Sales came up higher than expectations at +1.4% versus the expectations of a gain of 0.3%.  Leading the gains was spending on clothes which rose 2.5 percent, household goods sales rose by 1.7 percent and food sales rose by 1.6%. The MoM gain was the largest increase in 8 months and initially led to a sharp rise in the AUDUSD. However, profit taking entered with the dollar buying, and the AUDUSD fell.  The correction took the price down to the … [visit site to read more]

Is The Fed Contributing To Market Instability? Posted: 07 Jan 2010 05:01 AM PST In this fragile economy, one of the sources of stability should be the central bank. Paradoxically, mixed messages coming out of the Federal Reserve have contributed to the uncertainty. Uncertainty about QE The December 16, 2009 FOMC statement suggested that the Fed was prepared to ease off on quantitative easing [emphasis mine]: In light of ongoing improvements in the functioning of financial markets, the Committee and the Board of Governors anticipate that most of the Federal … [visit site to read more]

Forex Trading: EURUSD Still In A Range With A Bearish Bias Posted: 07 Jan 2010 04:41 AM PST The EURUSD remains contained by the range that has prevailed for the last few trading weeks. The high/low range over the period comes in at the 1.4484 to 1.4217, with an inside range of 1.4446 and 1.4261 (see chart levels above).  The midpoint of the range comes in at the 1.4350 level. The 100 and 200 bar moving average on the hourly chart comes in at the 1.4382 and 1.4374 levels respectively.  With the price below the midpoint (1.4350) and the 100 and 200 hour moving averages … [visit site to read more]

Forex Trading: USDJPY Moves Toward Key Resistance Against 200 Day MA Posted: 06 Jan 2010 11:19 PM PST The USDJPY is moving higher this morning on the back of new Finance Ministers comment that he supports a weaker Yen.  The price is approaching key resistance against the 200 day MA at the 93.56 level. There should be sellers against the levels with stops if the key moving average can be broken.  This level today will be the key level for the USDJPY.  Intraday support comes in at the 50% retracement of the move down from the April 2009 high to the November 2009 low (see Daily … [visit site to read more]

Mutual Funds: Top Energy Equity Funds Posted: 06 Jan 2010 05:49 PM PST Today we are featuring top-performing “Energy” equity mutual funds, which primarily invest in equity securities of energy and/or natural resources companies. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Energy Equity Funds 3 Energizing Picks Aim Energy Inv (FSTEX) seeks capital growth. It was incepted in January 1984. The energy fund invests primarily in energy companies, which include international oil companies, oil and gas exploration/production, oil … [visit site to read more]

Stock Buy: Phillips-Van Heusen Corp. Posted: 06 Jan 2010 04:00 PM PST Phillips-Van Heusen Corp. (PVH) continues to see bullish forecasts. Analysts polled by Zacks are calling for earnings of $3.05 for the current fiscal year, which represents 15% growth from last year’s projection. Shares of PVH more than quadrupled the market’s performance in 2009. Company Description Phillips-Van Heusen Corp. is a global designer and marketer of branded dress shirts, sportswear footwear and other similar products, offering several well-known brands. Calvin Klein , Izod, Bass … [visit site to read more]

Stock Buy: G-III Apparel Group Ltd. Posted: 06 Jan 2010 04:00 PM PST G-III Apparel Group Ltd. (GIII) is thriving in the challenging consumer environment, posting better than expected Q3 results in early December and providing an optimistic view on Q4. Company Description G-III Apparel Group designs and manufactures a range of leather outerwear and accessories primarily in the United States. The company sells its products through its ownership of 120 Wilson Leather Outlet stores, but also has branding contracts with other retailers like Tommy Hilfiger, Coach … [visit site to read more]

Bull Of The Day: Shutterfly, Inc. (SFLY) Posted: 06 Jan 2010 04:00 PM PST We are upgrading our recommendation on the shares of Shutterfly (SFLY) to Outperform. Increased usage of digital cameras combined with accessibility of high-speed internet provides significant expansion potential for the company. Product innovation, strategic partnerships with retailers and opportunistic acquisitions also augur well. We believe Shutterfly’s focus on developing a successful commercial printing business aided by strategic partnerships will significantly contribute to its … [visit site to read more]

Stock Buy: Best Buy Inc. Posted: 06 Jan 2010 04:00 PM PST Best Buy Inc. (BBY) saw sales climb 5% in the fiscal third quarter and raised full year guidance going into the all-important holiday season. BBY is trading with a forward P/E of 13.32. Company Description Best Buy is a specialty retailer of technology and entertainment products. It operates retail locations, call centers, web sites and in-home solutions through Best Buy, Audiovisions, Future Shop, Geek Squad, Napster, The Phone House and Speakeasy. Best Buy Surprised by 23.26% in the Fiscal … [visit site to read more]

Bear Of The Day: Tessera Technologies (TSRA) Posted: 06 Jan 2010 04:00 PM PST Tessera Technologies (TSRA) is a provider of back-end technology for semiconductor manufacturing. The company’s technology enables miniaturization of electronic goods, which is a driver of IC sales in the market today. Consequently, the host of patents, new technologies, customer wins, volume production at customers, ongoing strength in the DRAM market and the licensing model that supports attractive margins are positives. However, protection of intellectual property (IP) for a company this … [visit site to read more]

Analyst Interviews: Metals & Mining Stock Review Posted: 06 Jan 2010 04:00 PM PST The Metals & Mining Industry encompasses the extraction (mining), as well as the primary and secondary processing, of metals and minerals. The industry is rather concentrated in structure, with a few producers accounting for the lion's share of sales. Geographically, the Asia-Pacific region is witnessing higher production and consumption of metals, especially China and India. This is due to the per capita consumption in these two counties approaching the U.S./European levels, which could … [visit site to read more]

Stock Buy: Canadian Natural Resources Ltd. Posted: 06 Jan 2010 04:00 PM PST Canadian Natural Resources Ltd. (CNQ) is pressuring new highs as analysts raise their 2010 projections. . Company Description Canadian Natural Resources is a vertically integrated oil and gas company. The company explores, develops, and produces those energy components. Additionally CNQ engages in other activities such as pipeline operations. Solid Sequential Growth Canadian Natural Resources reported third-quarter results on Nov 5, which included cash flow from operations of $1.5 billion. … [visit site to read more]

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