Daily Markets - Financial News & Opinions |
- Which Type Of Bear Are You?
- Bean Prices Consolidate Ahead Of USDA Report
- GameStop To Repurchase Shares
- Amdocs Downgraded To Neutral
- Infosys Beats Estimates
- Stock Market News Briefs: Alcoa Inc., American Eagle Outfitters, Inc., Comerica Incorporated, Emulex Corporation, Ford Motor Credit Company, Gap, Inc. (The), Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, Tiffany & Co., Wells Fargo & Company, Electronic Arts Inc., Infosys Technologies Limited
- NY AG Seeks TARPers’ Bonus Data
- Rydex Market Timers: A Long Term View
- US Inflation Expectations Approach Pre-Crisis Range
- Modest Profits For Alcoa
- Forex Trading: GBPUSD Range Trading Between 1.6109 And 1.6158 Area
- Obama Mulls Bailout Tax On Banks
- Stocks To Watch On Tuesday 12 January
- Incentive Mis-alignment On Wall Street
- If European Countries Became U.S. States…
- Guide To Small Cap International ETFs
- Will 140% Return On Warrants Of Gold And Silver Miners Repeat In 2010?
- Mutual Funds: Top Precious Metals Equity Funds
- Analyst Interviews: Publishing Industry Stock Review
- Stock Buy: AsiaInfo Holdings, Inc.
- Bull Of The Day: Best Buy Co. (BBY)
- Stock Buy: American Science & Engineering, Inc.
- Bear Of The Day: Pool Corporation (POOL)
- Stock Buy: Cato Corporation
- Texas Instruments: Upside Limited
| Posted: 12 Jan 2010 07:45 AM PST The diagram below comes courtesy of FallStreet (hat tip: The Big Picture). I suppose until such time as a “Bull Index” sees the light of day, one could argue that the “wall of worry” phase of the stock market is still in place and therefore give the bull the benefit of the … [visit site to read more]
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| Bean Prices Consolidate Ahead Of USDA Report Posted: 12 Jan 2010 07:17 AM PST Fundamentals
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| Posted: 12 Jan 2010 07:00 AM PST GameStop Corporation (GME), the world's largest video game and entertainment software retailer, recently announced that its Board of Directors has approved a $300 million share repurchase program, as a part of its capital allocation strategy for fiscal year 2010. The buyback would be accretive to earnings by 10%. Grapevine, Texas based company plans to spend $200 million for opening 400 stores and other capital expenditures, and would also reserve $100 million for buyouts. GameStop … [visit site to read more]
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| Posted: 12 Jan 2010 06:45 AM PST We downgrade our recommendation for Amdocs Ltd. (DOX) to Neutral, which means the stock will perform mostly in line with the broader market. The stock price has moved up nearly 100% in the last one year and is currently trading at the high-end of its 52-week price range. Amdocs is the industry leader for developing solutions of customer relationship management and billing software to communications service providers. Amdocs benefits from the long-term trend toward information … [visit site to read more]
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| Posted: 12 Jan 2010 06:30 AM PST Infosys Technologies Limited (INFY) reported third quarter 2010 earnings per share of 59 cents, ahead of the Zacks Consensus Estimate of 51 cents. Revenue for the quarter was $1,232 million, a year-over-year growth of 5.2%. Net income after tax was $334 million. A total of 32 new clients were added during the quarter taking the number of active clients to 568. The client categories contributing over $100 million and $200 million annually added one customer each over the prior quarter. … [visit site to read more]
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| Posted: 12 Jan 2010 06:26 AM PST Alcoa (AA) reported fourth-quarter earnings excluding items of one cent a share, below estimates of 6 cents, and versus year-ago quarter's 28 cent loss. Revenues, however, came in better than expected at $5.43 billion, although under last year’s $5.68 billion. The firm blamed the results on higher power bills, a weak US dollar and the temporary closings of several Italian smelting plants Electronic Arts (ERTS) lowered its fiscal third quarter and fiscal year … [visit site to read more]
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| NY AG Seeks TARPers’ Bonus Data Posted: 12 Jan 2010 06:15 AM PST On Monday, New York Attorney General Andrew Cuomo asked eight of the nation’s largest banks that received significant federal aid under the Troubled Asset Relief Program (TARP) to provide information on the amount of 2009 bonus packages and their structure. Cuomo also asked the banks to explain the effect bonus pools would have had if banks had not received TARP funds. The eight TARP banks that have received Cuomo's letter asking for bonus information are Bank of America Corp. … [visit site to read more]
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| Rydex Market Timers: A Long Term View Posted: 12 Jan 2010 06:15 AM PST Rarely in this forum have we used the Rydex market timers to guide us in making that intermediate term trading decision. Typically, money flows in and out of their funds relatively easily, and this data set appears better suited for positioning oneself on a daily basis. However, a longer term (i.e., weekly view) has proved fruitful in the past, and this is what is presented in this article. Figure 1. is a weekly chart of the S&P500. The indicator in the lower panel measures all the assets … [visit site to read more]
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| US Inflation Expectations Approach Pre-Crisis Range Posted: 12 Jan 2010 06:01 AM PST On the burning issue of inflationary pressures, Asha Banglore (Northern Trust) yesterday remarked as follows: “Inflation expectations as measured by the difference between yields of the nominal US 10-year Treasury note and the 10-year inflation protected security are now at levels seen prior to the onset of the financial crisis in August 2007. As of January 8, the difference between the nominal yield and yield on the inflation protected 10-year US Treasury securities was 245 … [visit site to read more]
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| Posted: 12 Jan 2010 06:00 AM PST Shares of US aluminum giant Alcoa Inc. (AA) dropped 6% in after-hours trade and closed at $17.45 following the fourth quarter and full year 2009 earnings announcement on Monday. In the fourth quarter of 2009, Alcoa posted a modest profit of 1 cent, missing the Zacks Consensus Estimate of 5 cents and market expectations of 6 cents. Accounting for charges on restructuring and special items of $275 million, or 28 cents per share, Alcoa reported a loss of 27 cents, down from a net loss of … [visit site to read more]
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| Forex Trading: GBPUSD Range Trading Between 1.6109 And 1.6158 Area Posted: 12 Jan 2010 05:49 AM PST The GBPUSD is caught between support against the 200 day MA level at the 1.6309 level and the upside resistance at the 1.6158 area. The 1.6158 level was a level from the daily chart going back to the summer months (see chart above). The market moved below the level in December on its way to the lows but has moved back higher of late and is testing the old support level over the last few trading days. Looking at the hourly chart, the price moved to a … [visit site to read more]
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| Obama Mulls Bailout Tax On Banks Posted: 12 Jan 2010 05:45 AM PST The Obama administration is considering imposing a tax on banks to recover the losses incurred by the government on the bailout money provided to financial firms as part of its $700 billion bailout program to rescue the financial system. The Troubled Asset Relief Program (TARP) created in 2008 under a law requires the President to seek ways to recover shortfalls in bailout money from financial institutions. However, the law does not stipulate the process of recovery of the bailout … [visit site to read more]
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| Stocks To Watch On Tuesday 12 January Posted: 12 Jan 2010 05:30 AM PST ( click to enlarge ) (TLAB) faces resistance at the 6.20-6.23 range. A close above 6.23 would impart positive momentum. The stock is likely to move to the 7-7.40 range on the break past the resistance zone. I will watch the stock closely the next few days, watching for this move to occur. TLAB will move quickly and could be too volatile for some traders. The technical indicators are still in favor of the short-term uptrend continuation. ( click to enlarge ) (PLUG) - This stock is … [visit site to read more]
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| Incentive Mis-alignment On Wall Street Posted: 12 Jan 2010 05:13 AM PST I see that Barry Ritholtz at Big Picture sees my point about the mis-alignment of incentives on Wall Street, but he hasn’t taken the next leap about my suggestion to bring back the partnership investment bank: I always found it an amazing coincidence that none of the private partnerships got into any trouble. Coincidence? Perhaps not — from page 136, Bailout Nation: More importantly, banks started adopting the "eat what you kill" compensation systems. The bonus structure, replete with … [visit site to read more]
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| If European Countries Became U.S. States… Posted: 12 Jan 2010 05:01 AM PST Click to enlarge. Paul Krugman extols “Europe’s economic success” in a recent NY Times column “Learning from Europe,” and writes that “…taking the longer view, the European economy works; it grows; it’s as dynamic, all in all, as our own.” Greg Mankiw adds this caveat about Europe’s “economic success.” The chart above provides some additional perspective on Europe’s “economic success,” based on data available here that compares 2007 GDP per person on a purchasing power parity … [visit site to read more]
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| Guide To Small Cap International ETFs Posted: 12 Jan 2010 04:14 AM PST The tremendous increase in the number of ETFs launched in recent years has seemingly brought cheap, efficient access to nearly every corner of the globe within reach of U.S. investors. There are now funds devoted to Vietnam, Turkey, Israel, Colombia, among countless others. But while the breadth of international options has expanded significantly, the exposure offered by these funds is fairly limited, as most international exchange-traded products are dominated by mega-cap equities.
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| Will 140% Return On Warrants Of Gold And Silver Miners Repeat In 2010? Posted: 12 Jan 2010 04:01 AM PST A comparison of the returns of the various gold investment alternatives achieved in 2009 clearly shows that gold bugs were misguided in focusing on gold bullion alone. Why? Because gold was NOT where the major profits were realized - not by a long shot! Gold Bullion up 24% While gold bullion was 'only’ up 24%* (and silver up 49.3%*) it did nothing more than match the performance of the S&P 500 and the Reuters/Jefferies CRB indices at 23.5%* for both. Why all the hype regarding gold … [visit site to read more]
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| Mutual Funds: Top Precious Metals Equity Funds Posted: 11 Jan 2010 10:28 PM PST Today we are featuring top-performing "Precious Metals” equity mutual funds, because precious metals offer superior protection against inflation, which cannot be said of almost all other reasonably liquid assets. These funds primarily invest in equity securities of companies that are involved in mining and processing of gold and other precious metals.
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| Analyst Interviews: Publishing Industry Stock Review Posted: 11 Jan 2010 09:00 PM PST The publishing industry has long been grappling with sinking advertising revenue, and the global economic meltdown has worsened the situation. This comes in the wake of a longer-term secular decline as more readers choose to get news free online, thereby making the print-advertising model increasingly irrelevant.
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| Stock Buy: AsiaInfo Holdings, Inc. Posted: 11 Jan 2010 09:00 PM PST AsiaInfo Holdings, Inc. (ASIA) continues to trade neat its 52-week and all-time high at $32.45 on strong Q3 earnings and rising estimates.
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| Bull Of The Day: Best Buy Co. (BBY) Posted: 11 Jan 2010 09:00 PM PST The dominant position in the consumer electronic business enables Best Buy (BBY) to sustain growth in its topline, expand its store base and boost its market share through acquisitions.
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| Stock Buy: American Science & Engineering, Inc. Posted: 11 Jan 2010 09:00 PM PST American Science and Engineering, Inc. (ASEI) analysts have raised full-year estimates for the security device makers which continues to climb on fresh terrorism worries.
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| Bear Of The Day: Pool Corporation (POOL) Posted: 11 Jan 2010 09:00 PM PST We are downgrading our recommendation on the shares of Pool Corporation (POOL) to Underperform. We are concerned about the pace of recovery, especially in the pool construction/major renovation business.
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| Posted: 11 Jan 2010 09:00 PM PST Cato Corporation (CATO) saw December same store sales jump more than expected and raised full-year guidance. CATO has surprised on estimates 4 quarters in a row by an average of 9.06%.
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| Texas Instruments: Upside Limited Posted: 11 Jan 2010 04:08 PM PST We are optimistic about Texas Instruments’ (TXN) recent performance, although we do not expect significant movement in share prices when the company reports later this month. Our outlook is reflected by the stock’s Zacks Rank #3.
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