Daily Markets - Financial News & Opinions |
- Which Sector Will Step Up And Lead Stock Bulls In 2010?
- Valeant Drug Accepted By FDA
- Initiating Macy’s At Neutral
- Boeing Wins Contract
- Australian Dollar: The Bias Remains Bullish
- Canadian Dollar: Bounce
- Pfizer Drug Approval Delayed
- Investment Ideas: Asia-Pacific Stock Exchanges
- LTD’s Exchange Offer For Notes
- Forex Trading: USDJPY Corrects Off Key Support Lows. 92.57 Resistance Now.
- PetroChina Upped To Outperform
- Video: NYSE Opening Bell Market Monitor: NVS, KFT, CHK
- Video: Hang Seng Slides While Rest Of Asia Rises
- Stryker Completes Acquisition
- PRU Concludes Wachovia Sale
- What My Indicator Is Saying About Stocks And Commodities
- Medicines Co. Upgraded To Neutral
- AIG: Units To Pay Stock Salary
- Forex Trading: EURGBP Surge Higher Forces The EURUSD Back Higher
- Aetna Downgraded To Underperform
- Swiss Franc: Bullish Bias Above 102
- Japanese Yen: The Upside Prevails
- British Pound: Rebound Expected
- Euro: The Upside Prevails
- Forex Trading: EURUSD Moves Lower. Longs Getting Tired.
- Fox Strikes Timely Deal With TWC
- Stock Market News Briefs: Alcon Inc, Cadbury PLC, Chesapeake Energy Corporation, Hershey Foods Corporation, Kraft Foods Inc., Novartis AG, Time Warner Cable Inc, TotalFinaElf, S.A., Apple Inc., Google Inc.
- RadioShack To Outperform
- Treasury Wraps Up Banks Bailout
- Forex Trading: EURUSD. Watching Support 1.4411/18
- Forex Trading: USDCAD Falls On Higher Oil. Watch 1.0405/15 Level
- Forex Trading: USDJPY. Is The Pair Looking To Transition Into A Trend From A Non-trend Market? Watch The Clues.
- Two Markets To Watch In 2010!
| Which Sector Will Step Up And Lead Stock Bulls In 2010? Posted: 04 Jan 2010 09:45 AM PST Digging beneath the surface of the late 2009 market for clues, we find that some measures of breadth continue to deteriorate even as the major indices continue to float near their highs. For example, the percentage of stocks above their 10-day moving average has gone from 81% on Christmas Eve to 71% now. This is an indication that buyers have become more selective. This adds to a trend that’s been developing over the last few months. While the NASDAQ has managed an impressive breakout … [visit site to read more]
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| Posted: 04 Jan 2010 09:05 AM PST Recently, Valeant Pharmaceuticals International (VRX) announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for marketing approval for its drug candidate retigabine. Retigabine is a neuronal potassium channel opener indicated for treating adult epilepsy patients with partial-onset seizures.
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| Posted: 04 Jan 2010 03:49 AM PST We have recently initiated coverage on Macy's, Inc. (M), one of the leading department store retailers in the United States , with a Neutral recommendation and a target price of $18, as we anticipate it to perform in line with the industry.
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| Posted: 04 Jan 2010 03:33 AM PST Boeing Co. (BA) won a $12.4 million contract from the U.S. Navy to repair various components of the F/A-18 Super Hornet fighter jet. The work will be performed in Lemoore, California, Cecil Field, Florida and Philadelphia. The company expects to finish the work by Dec 31, 2010.
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| Australian Dollar: The Bias Remains Bullish Posted: 04 Jan 2010 08:17 AM PST |
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| Posted: 04 Jan 2010 03:16 AM PST Pfizer (PFE) announced that the US Food and Drug Administration (FDA) is yet to complete its review of the Biologics License Application (BLA) for Prevnar 13, its 13-valent pneumococcal conjugate vaccine, thereby pushing its approval beyond the prescription drug user fee (PDUFA) action date of December 30, 2009. Following the delay, Pfizer shares lost 1.68% to close at $18.19.
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| Investment Ideas: Asia-Pacific Stock Exchanges Posted: 04 Jan 2010 08:01 AM PST In this article we deviate from the usual single-minded focus on macro-economic analysis and shift more towards the financial market aspects with a look at an investment idea. What spurred me to write on this topic was comments around a New Zealand analysis article, another way to benefit from the development and overall level of economic (and financial market) activity of a country is to invest in listed stock exchanges. The reasoning goes that as an economy becomes more prosperous, … [visit site to read more]
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| LTD’s Exchange Offer For Notes Posted: 04 Jan 2010 03:00 AM PST Limited Brands Inc. (LTD), a premier retail company, recently announced an exchange offer for its outstanding 8.5% Senior Notes due 2019, originally issued on Jun 19, 2009, in a private offer aggregating $500 million in principal. In accordance with the sale, Limited Brands entered into a registration rights agreement under which it offered to exchange the Senior Notes for new notes registered under the Securities Act of 1933. According to the terms of the registration statement, … [visit site to read more]
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| Forex Trading: USDJPY Corrects Off Key Support Lows. 92.57 Resistance Now. Posted: 04 Jan 2010 07:49 AM PST Earlier this morning we were looking for a trend type move in the USDJPY (see prior post by clicking here) . The clue was the convergence of the 100 and 200 bar MA along with the price on the 5 minute chart.
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| PetroChina Upped To Outperform Posted: 04 Jan 2010 02:45 AM PST We are upgrading PetroChina Company Limited (PTR) ADRs to Outperform from Neutral, reflecting the company's leverage to the fast growing Chinese market and the turnaround in commodity prices. Being one of the two Chinese integrated oil companies, PetroChina is well-positioned to capitalize on these favorable trends. We also like PetroChina's recent foray in the oil sands business through its $1.8 billion acquisition of majority stakes in two Canadian projects. We see this … [visit site to read more]
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| Video: NYSE Opening Bell Market Monitor: NVS, KFT, CHK Posted: 04 Jan 2010 12:42 PM PST The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Video: Hang Seng Slides While Rest Of Asia Rises Posted: 04 Jan 2010 12:36 PM PST Hong Kong’s Hang Seng index started off a new trading week on the downside this session while the other major Asia/Pacific indices were on the upside. … [visit site to read more]
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| Posted: 04 Jan 2010 02:30 AM PST Stryker Corporation (SYK) recently completed the acquisition of Ascent Healthcare Solutions, the market leader in the reprocessing and remanufacturing of medical devices in the U.S. The acquisition will be neutral to Stryker's earnings per share in 2010 and accretive thereafter. Post-acquisition, Ascent Healthcare Solutions has become a division of Stryker under the company's MedSurg group of businesses and has retained its name. Ascent Healthcare Solutions Inc. was formed in 2005 … [visit site to read more]
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| Posted: 04 Jan 2010 02:15 AM PST Last week, Prudential Financial (PRU) announced that it has completed the previously announced sale of its minority interest in Wachovia Securities Financial Holdings to Wells Fargo & Co. (WFC) for $4.5 billion in cash. Apart from this the company has also received $418.4 million in relation to the promissory notes, held in the joint venture, issued by Wachovia Securities. The retail brokerage joint venture was initially launched by Wachovia Corp. (owning 62%) with Prudential in … [visit site to read more]
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| What My Indicator Is Saying About Stocks And Commodities Posted: 04 Jan 2010 07:01 AM PST Let’s talk shop. The “next big thing” indicator was developed to help identify those assets that are most likely to undergo a secular trend change from bear to bull. The indicator looks at those technical characteristics that are mostly frequently found at market bottoms prior to the change in trend. The indicator is unique in that it just doesn’t rely upon the “oversoldness” of an issue (i.e., the y axis) but it also tries to assess how long (i.e., the x axis) the current down trend … [visit site to read more]
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| Medicines Co. Upgraded To Neutral Posted: 04 Jan 2010 07:00 AM PST We recently upgraded our recommendation on The Medicines Company (MDCO) to Neutral from Underperform. Despite the economic slowdown and cost-cutting by hospitals, The Medicines Company's lead product Angiomax continues to perform well. We expect Angiomax sales to remain strong with The Medicines Company continuing to present encouraging data. Moreover, new guidelines issued by the American College of Cardiology / American Heart Association (ACC/AHA) supporting the use of Angiomax should … [visit site to read more]
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| AIG: Units To Pay Stock Salary Posted: 04 Jan 2010 01:45 AM PST American International Group Inc. (AIG) said last Thursday that for paying stock salary to its top executives for 2009, it will use stock units instead of common stock. The stock units will reflect the value of AIG’s common stock. This arrangement is in compliance with the U.S. pay czar Kenneth Feinberg's pay rules on the bailed-out insurer. According to the final determination by the pay czar, AIG’s highest-paid employees could be compensated in either common stock or stock … [visit site to read more]
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| Forex Trading: EURGBP Surge Higher Forces The EURUSD Back Higher Posted: 04 Jan 2010 01:44 AM PST The EURGBP has moved sharply higher and this has helped the EURUSD move higher as well. If you recall from last week EURGBP was sold sharply lower. The price dipped to the 200 day MA in the process and held. This has helped support the pair today. In the last hour, the price of the EURGBP has taken a nother leap higher and approaches the 100 hour MA at the 0.8958 level. The 100 day MA is above at 0.8971. I would look for sellers against these levels.
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| Aetna Downgraded To Underperform Posted: 04 Jan 2010 01:30 AM PST Although the current economic scenario has improved a lot, it is still posing a major challenge for Aetna (AET). The current state of the global economy and market conditions are quite challenging with high levels of unemployment, diminished business and consumer confidence and volatility in both the US and international capital and credit markets. Membership has slumped throughout the health insurance sector as employers have cut jobs, thereby leading to a reduction in the number of people … [visit site to read more]
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| Swiss Franc: Bullish Bias Above 102 Posted: 04 Jan 2010 06:17 AM PST |
| Japanese Yen: The Upside Prevails Posted: 04 Jan 2010 06:17 AM PST |
| British Pound: Rebound Expected Posted: 04 Jan 2010 06:17 AM PST |
| Posted: 04 Jan 2010 06:17 AM PST |
| Forex Trading: EURUSD Moves Lower. Longs Getting Tired. Posted: 04 Jan 2010 01:16 AM PST The EURUSD failed to extend higher and has moved below the 1.4411 support level. Look for 1.4418 to hold the upside now as the bulls/longs get tired and take some profits. The target is the 1.4376 below where the 100 bar MA is currently found (and moving … [visit site to read more]
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| Fox Strikes Timely Deal With TWC Posted: 04 Jan 2010 01:15 AM PST With the expiry of the earlier contract at midnight Dec 31, Time Warner Cable Inc. (TWC) forged a new programming deal with News Corp. (NWSA) to continue broadcasting hit programs from the Fox Broadcast Network, ending a series of public spat that threatened to deny customers of their favorite TV shows. Although the terms of the deal were not divulged by the companies, both agreed that a fair agreement was reached to avoid any disruption in programming. The deal benefited over 13 … [visit site to read more]
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| Posted: 04 Jan 2010 06:07 AM PST European shares are up on merger news. Novartis (NVS) took steps to acquire the rest of Alcon (ACL) from Nestle for $28.1 billion, noting intentions to purchase the remaining shares Media reports said Kraft Foods (KFT) will raise its hostile bid for Cadbury (CBY). Some reports also suggested Ferrero has talked with private equity companies and Hershey (HSY) about a counter-offer November semiconductor sales improved 8.5% to $22.6 … [visit site to read more]
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| Posted: 04 Jan 2010 01:00 AM PST We upgrade our recommendation for RadioShack Corp. (RSH) to Outperform based on our assessment that the company is likely to improve its earnings in the future quarters as a result of a significant boom in the wireless industry. RadioShack is one of the most experienced and trusted consumer electronics specialty retailers in the U.S. with approximately 4,470 company-operated stores; almost 1,300 dealer outlets; over 450 wireless phone kiosks throughout the U.S. and approximately 200 … [visit site to read more]
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| Treasury Wraps Up Banks Bailout Posted: 04 Jan 2010 12:45 AM PST The Treasury Department said last Thursday that with the injection of $29.3 million into 10 banks it has wrapped up its taxpayer-funded bailout program for banks. The fund comes from the $700 billion Troubled Asset Relief Program (TARP) initiated by the government after enduring extraordinary shocks in 2008. The government had taken this step to stabilize the financial system. We believe that the worst of the credit crisis is now probably behind us. According to the Treasury, the … [visit site to read more]
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| Forex Trading: EURUSD. Watching Support 1.4411/18 Posted: 04 Jan 2010 12:43 AM PST Support for the EURUSD comes in at 1.4411/18. Watch the level. If the price can hold, the upside remains the bias for the … [visit site to read more]
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| Forex Trading: USDCAD Falls On Higher Oil. Watch 1.0405/15 Level Posted: 04 Jan 2010 12:33 AM PST The USDCAD fell sharply today on the back of stronger oil prices (up $1.70 on a futures basis) and gold (up $26). The CAD$ tends to benefit on the back of stronger commodities.
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| Posted: 03 Jan 2010 11:42 PM PST The USDJPY is non trending but as we all know when the market non-trends it often looks to trend. At FXDD we look to define a non-trending market as one where the 100 and 200 bar MA converge.
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| Posted: 04 Jan 2010 01:36 AM PST Fundamentals
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