Feb 11, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Home Improvement And Remodeling Holds Potential For Stock Investors « Hans Wagner »

Posted: 11 Feb 2010 10:01 AM PST

The home improvement and remodeling industry will be the darling of the housing sector in 2010. The plunge by the housing sector took the home improvement industry with it as it fell more than 30 percent from its peak in 2007. It looks like the home improvement industry will bottom in the first quarter of 2010 and then rise from there.

As homeowners recover from the devastation of the credit crunch, they are looking to increase their spending on their existing homes. Should existing home … [visit site to read more]

Equinix Revenue & Profit Grows « Zacks Investment Research »

Posted: 11 Feb 2010 09:06 AM PST

Equinix Inc's. (EQIX) fourth quarter 2009 EPS of 44 cents exceeded the Zacks Consensus Estimate of 34 cents per share.
 
Revenue 
Revenue for the third quarter was $242.6 million, up 7% over the previous quarter and 27.2% over the same quarter last year. This reflects the continued benefit of strong demand across all three geographic regions. This apart, the company witnessed revenue growth across all its business segments.
 
Recurring revenues, consisting primarily of … [visit site to read more]

How Greek Problems Will Slam US Shores « Daily Reckoning »

Posted: 11 Feb 2010 09:00 AM PST

As this week's headlines have been blaring, the financial calamity entangling Greece is spreading throughout the western world, and slowly but surely across the Atlantic. The European Monetary Union continues to weigh its limited options. It's taking into consideration the weak mechanisms currently in place to aid in Greece's debt problems, and also its duty to protect the integrity of the euro.
Having recently experienced our own financial crisis right within US borders, and under the … [visit site to read more]

Initial Jobless Claims Back Down « Zacks Investment Research »

Posted: 11 Feb 2010 08:57 AM PST

We got some very good news on the Initial Claims for Unemployment Insurance front. This week, initial jobless claims fell by 43,000 (or 40,000 if one takes into account the 3,000 upward revision to last weeks number). The 4-week moving average, however, only fell slightly — by 1,000 to 468,500.
The week-to-week numbers can be very volatile, so the 4-week average is really the number to keep an eye on. As the graph below (from http://www.calculatedriskblog.com/) shows, the 4-week average … [visit site to read more]

LabCorp Beats By A Penny « Zacks Investment Research »

Posted: 11 Feb 2010 08:50 AM PST

Laboratory Corporation of America Holdings (LH) reported adjusted earnings per share (EPS) of $1.16 for the fourth quarter, which surpassed the Zacks Consensus Estimate of $1.15 and $1.10 reported in the year-ago period. Revenues recorded a 3.4% year-over-year increase to $1.16 billion. For the full year of 2009, revenues and EPS came in at $4.7 billion and $4.89, respectively.
 
During the reported quarter, there was a 0.9% decline in testing volume (measured by accessions) while … [visit site to read more]

Japanese Stocks: Why Small-Caps Will Lead Japan’s Economy Out Of The Wilderness « Louis Basenese »

Posted: 11 Feb 2010 08:40 AM PST

Thursday, February 11, 2010: Issue #1195
It's a move that is about as popular as a geek on prom night.
But on Monday, my good friend and colleague, Alexander Green, took the plunge and slapped a "Buy" rating on investing in Japan.
I'm right there with him, too. And it's not just because I don't want my friend to be lonely.
Why? Well, given that I'm a contrarian investor by nature, I started the thought process with one simple question: What investments do people universally love … [visit site to read more]

Progress Energy Numbers In-Line « Zacks Investment Research »

Posted: 11 Feb 2010 08:34 AM PST

Power provider Progress Energy Inc. (PGN) reported fourth quarter 2009 earnings, in line with Zacks Consensus Estimate and ahead of the year-ago results. Earnings were driven by increased revenues on interim and limited base rate relief, favorable returns on nuclear and environmental investments, and lower depreciation and amortization, partly offset by increased operating and maintenance costs. Progress' earnings per share in the quarter was 50 cents, same as the Zacks Consensus Estimate … [visit site to read more]

Forex Trading: EURUSD In A Surprise, Squeezes Back Higher To Resistance « Greg Michalowski »

Posted: 11 Feb 2010 08:33 AM PST

Tests 1.3642 now.  Markets volatile as Europe looks to exit. This should hold the topside. A move above 1.3642-44 area will not be a good sign, … [visit site to read more]

Forex Trading: AUDUSD Bounces Off Support And Now Tests Intraday Resistance « Greg Michalowski »

Posted: 11 Feb 2010 08:27 AM PST

The stronger Employment report pushed the AUDUSD higher in the Far East session at the start of the new trading day. The high extended to the 89.04 level which was within shouting distance of the 89.15 level -the high price on Feb 2nd (SEE PRIOR POST).
Since the high, the price has consolidated and moved back lower. The pairs move down in the NY just reached the 0.8835 level which also happened to be the first low correction price after the surge higher last night (see … [visit site to read more]

Big Ben Bernanke Talks Rate Hikes « Daily Reckoning »

Posted: 11 Feb 2010 08:20 AM PST

OK… Well, the "experts" that thought the trade deficit was going to narrow in December got their lunch handed to them yesterday, when not only did the trade deficit NOT narrow, but widened from $35 billion to $40 billion! Now that stinks! And… I'll tell you right now, it will deduct from the 5.7% GDP figure that was printed a couple of weeks ago. Yes, this increase in the trade deficit will probably reduce the GDP figure to at least 5%.
Now… In the old days (before the financial … [visit site to read more]

Arris Tops But Outlook Down « Zacks Investment Research »

Posted: 11 Feb 2010 08:19 AM PST

Yesterday, after market closed, Arris Group Inc. (ARRS) declared fourth quarter 2009 financial results. Quarterly total revenue of $300 million was up 2.6% year-over-year and also up 8.8% sequentially. Quarterly revenue also exceeded the Zacks Consensus Estimate of $288 million.
The increase in revenue was the result of the continuous roll-out of DOCSIS 3.0 (Wideband) technology by the U.S. cable MSOs that generated massive demand for the company's next-generation CMTS Edge Routers and VoIP … [visit site to read more]

Australian Dollar: Continuation Of The Rebound « Trading Central »

Posted: 11 Feb 2010 08:18 AM PST

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Continuation Of The Rebound « Trading Central »

Posted: 11 Feb 2010 08:18 AM PST

Update on supports and resistances. … [visit site to read more]

Video: Once Again, It’s All About The Dollar « NYFP »

Posted: 11 Feb 2010 08:13 AM PST

Floor trader Alan Valdes shares his opinions on this session’s big board slide and attributes it to the performance of the US dollar. … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: VIA, PEP, MAR « NYFP »

Posted: 11 Feb 2010 08:08 AM PST

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

ICE Slips On High Expenses « Zacks Investment Research »

Posted: 11 Feb 2010 08:02 AM PST

IntercontinentalExchange Inc.'s (ICE) fourth quarter net income of $84.0 million or $1.13 per share swung from a net income of $49 million or 6 cents per share in the year-ago period. However, earnings per share fell short of a couple of pennies from the Zacks Consensus Estimate of $1.15. Excluding certain one-time costs, consolidated adjusted net income attributable to ICE was $84 million, up 39% year-over-year.
 
The quarterly results benefited from position limitations on … [visit site to read more]

Video: AutoNation’s 4Q Earnings Hit The Skids « NYFP »

Posted: 11 Feb 2010 08:01 AM PST

Auto retailer Autonation (AN) announced Thursday that its 4Q earnings fell 8% despite better sales. … [visit site to read more]

DaVita Reports In-line « Zacks Investment Research »

Posted: 11 Feb 2010 07:48 AM PST

DaVita Inc. (DVA) reported fourth quarter fiscal 2009 net income of $109.7 million or $1.06 per share, which was in line with the Zacks Consensus Estimate. The company earned $98.4 million or 94 cents in the comparable quarter of 2008.
For full year 2009, DaVita earned $4.06 per share, in line with the Zacks Consensus Estimate but higher than the earnings of $3.53 in fiscal 2008. Net operating revenue for fiscal 2009 climbed approximately 8% to $6.11 billion from $5.66 billion in fiscal … [visit site to read more]

Which Euro ETF Is Right For You? « Michael Johnston »

Posted: 11 Feb 2010 07:44 AM PST

One of the major stories of 2010 has been turmoil in the euro zone, as crumbling public finances in Greece have stoked fears of a "contagion effect" sweeping throughout the region. The prolonged economic downturn has left Greece with a massive budget deficit, and with $28 billion in debt due in April and May, fears of a default have soared in recent weeks. The government's plans to rein in the deficit–including pay cuts, bonus freezes, and some hefty tax hikes–have met stiff … [visit site to read more]

Forex Trading: EURUSD Breaks Through The Support At 1.3642 On Its Way To 1.3621 « Greg Michalowski »

Posted: 11 Feb 2010 07:39 AM PST

The EURUSD made a break through 1.3642 on its way to the next target at the 1.3621 level (see prior post).  This was the double bottom from Monday. The low for 2010 is another downside target at the 1.3585. 
The 1.3682 level above held the correction off the initial low reaching a high of 1.3677.  This has given the market the confidence to continue to downward bias and the move away from the 100 hour MA above at 1.3716.

The next target level on the longer term daily chart will … [visit site to read more]

Evergreen Solar’s Loss Widens « Zacks Investment Research »

Posted: 11 Feb 2010 07:33 AM PST

Massachusetts-based Evergreen Solar Inc. (ESLR) reported fiscal fourth-quarter loss per share of 13 cents, which is identical to the year-ago quarter. This is however higher than the Zacks Consensus Estimate of a 9-cent loss. The fall came from lower average selling prices.
 
Out of the 19 analysts covering the stock, two have revised their estimates downwards in the last 30 days for fiscal 2010. We expect Evergreen Solar to narrow its losses in fiscal 2010 with a loss per share of 25 … [visit site to read more]

Video: Asian Markets Surge On Commodities « NYFP »

Posted: 11 Feb 2010 07:32 AM PST

The major Asian/Pacific markets were on the upside this session following a boost in commodity prices assisting commodity-related stocks. … [visit site to read more]

One Free Market System For Wall Street, Another Free Market System For Main Street « Robert Reich »

Posted: 11 Feb 2010 07:23 AM PST

Washington is paralyzed by snow and partisanship. Nothing is getting done – even as the Great Recession pulls more Americans into its maw.
In the midst of this paralysis, the President was asked about the giant pay packages of Jamie Dimon, CEO of JP Morgan Chase & Co. ($17 mullion for 2009) and Lloyd Blankfein, CEO of Goldman Sachs ($9 million). "First of all, I know both those guys," Obama said. "They're very savvy businessmen. And I, like most of the American people, don't … [visit site to read more]

PartnerRe’s Profit Rockets « Zacks Investment Research »

Posted: 11 Feb 2010 07:17 AM PST

PartnerRe Ltd.'s (PRE) fourth quarter operating earnings per share of $3.87 were way ahead of both the Zacks Consensus Estimate of $2.80 and the year-ago quarter earnings of 95 cents. This excluded after-tax net realized and unrealized investment gains and losses, after-tax net realized gain on the purchase of the CENts and after-tax interest in results of equity investments.
Operating earnings were calculated after payment of preferred dividends. Including these items, GAAP net income for … [visit site to read more]
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