Feb 11, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Gold And Silver ETFs Pause: Rally Ran Out Of Steam? « Tom Lydon »

Posted: 11 Feb 2010 05:50 PM PST

Gold and silver prices and exchange traded funds (ETFs) soared into the stratosphere last year before pausing for breath. Watchers of the metals are now wondering: are there more price spikes in the offing or does the pause signify a rally that’s run out of steam?

Analysts are sharply divided these days: on one side are the dollar bulls who think the dollar will strengthen and gold will weaken; on the other side are the dollar bears, who think gold is only warming up. Willfred J. Hahn for … [visit site to read more]

Real World GDP Through 2030 « Mark Perry »

Posted: 11 Feb 2010 05:01 PM PST

The chart above of historical real world GDP shares was featured on CD in November and generated lots of discussion (44 comments) and was also featured on Greg Mankiw’s blog and about 25 other blogs. Using the same international macroeconomic database from the USDA, the chart below plots the projected shares of real world GDP shares through 2030, and shows the expected change in the composition of world output over the next 20 years as world output is anticipated to increase by 150% … [visit site to read more]

Stock Picks For Friday 12 February: OceanFreight, THQ « Antonio Costa »

Posted: 11 Feb 2010 04:55 PM PST

( click to enlarge )

THQ Inc (THQI) broke out and never stopped all day on Thursday. There is a good chance the stock will continue to move up. If the stock can break through $6.70, we should see it move up to $7,50. Looking at the technical daily chart the investor sentiment in stock showed by RSI continues strong and MACD still going up. THQI still trading in a strong Bull Market with share price above 20 dma, 50 dma and 200 daily moving average. Although RSI is showing … [visit site to read more]

Forecasting With A Grain Of Salt « Michael Panzner »

Posted: 11 Feb 2010 04:22 PM PST

Bloomberg News is out with its latest monthly survey of economists’ forecasts and, according to those polled, the U.S. economy “will grow 3 percent this year and next, more than anticipated a month ago.”
Good news, right?
Well, maybe not. If you go back and look at how the experts have fared when forecasting the pace of growth for any given quarter, let alone for the year ahead, their tea leaf reading skills have left a lot to be desired.

Based on an analysis of Bloomberg monthly surveys … [visit site to read more]

GlobalShares Launches Developed Markets ETF (GSD) « Michael Johnston »

Posted: 11 Feb 2010 04:13 PM PST

GlobalShares, a division of London based Old Mutual, launched the FTSE Developed Countries Ex-U.S. Fund (GSD) on Thursday, doubling the size of its ETF product line. GSD will track the FTSE Developed ex-U.S. Index, a benchmark already covered by the Schwab International Equity ETF (SCHF). The new GlobalShares ETF will also compete with the iShares MSCI EAFE Index ETF (EFA) and the Vanguard Europe Pacific ETF (VEA), both of which track the MSCI EAFE Index and hold a combined $41 billion … [visit site to read more]

Why Are Companies Hoarding Cash? « Larry Doyle »

Posted: 11 Feb 2010 04:02 PM PST

In order for the economy to grow, for companies to hire, and for new employees to benefit, we need velocity in the money supply. The fact is, this velocity has slowed dramatically. Bloomberg highlights this stark reality on our economic landscape by writing, Jobless Suffer with Corporate Cash Climbing to $1.19 Trillion:
A majority of companies in the Standard & Poor’s 500 stock index increased cash to a combined $1.19 trillion while simultaneously reducing spending, keeping a jobs … [visit site to read more]

Daily ETF Roundup: JJC, GDX Soar « Michael Johnston »

Posted: 11 Feb 2010 03:45 PM PST

A pledge from EU leaders to provide "coordinated action if needed" to support Greece through its debt crisis gave global markets a lift on Thursday. The commitment from European Council President Herman Van Rompuy eased concerns that Greece's woes could spread to the highly-leveraged economies of Spain and Portugal, and fears of a far-reaching "contagion effect" subsided considerably. Elsewhere, protests erupted in Iran while former president Clinton was hospitalized with chest … [visit site to read more]

Gold, Silver And Stock Market: The Primary Trend Is Still Down « Derek Blain »

Posted: 11 Feb 2010 03:15 PM PST

It’s good to be back.  While the conversation was good, the lake hut was toasty, and the peace was a welcome gift, we could have done with more fish.  It seemed that the biggest biting day of the week was the day before we set up, as many of the locals informed us.

So not too much happened on the ice fishing trip - not nearly as much as we would have liked, anyway.

It seems the markets were up to about the same while we were gone, and may be up to the same for a while yet.

As is … [visit site to read more]

Recurring Revenues Strong At ULTI « Zacks Investment Research »

Posted: 11 Feb 2010 02:40 PM PST

Ultimate Software (ULTI) reported revenues of $52.3 million, up 5% year over year. Recurring revenues (primarily consisting of Intersourcing revenues and Maintenance revenues) came in at $35.7 million, up 24% from a year ago.
Service revenues came in at $15.9 million, beating management's expectations. License revenues came in at $0.6 million for the quarter. Gross margin was 55.1%. Operating margin came in at 8% compared to 9% in the year-ago quarter.
Net income came in at $0.1 million or … [visit site to read more]

Gold Bull Market – Stage 2 « Daily Reckoning »

Posted: 11 Feb 2010 02:30 PM PST

Don't be scared off by last week's sell-off in gold, says Byron King. "What got sold? Do you really think that people parted with their Gold Eagles, Maple Leafs and Krugerrands? Did YOU sell YOUR gold? Do you think that the Chinese sold gold from their national vaults?
"No, last week people sold paper, not real goods. Sure, it felt like a sell-off to your portfolio, when gold miners declined. But beware thinking that we're about to experience the Great Reversal in values for precious … [visit site to read more]

Outlook Bright For Scripps Network « Zacks Investment Research »

Posted: 11 Feb 2010 02:20 PM PST

Scripps Networks Interactive, Inc. (SNI) has reported fourth quarter 2009 financial results. Overall the results were mostly in line with the Zacks Consensus Estimates. Quarterly GAAP net income was $94.4 million or 57 cents per share, compared to a net loss of $154 million or 94 cents per share in the prior-year quarter.
However, excluding the gains from discontinued operations and other special items, Scripps Networks' fourth quarter 2009 EPS was 52 cents, exactly in line with the Zacks … [visit site to read more]

What China’s Investment Trends Are Telling Us Now « Money Morning »

Posted: 11 Feb 2010 02:01 PM PST

Many investors have reaped their biggest gains by playing the stock-market equivalent of “follow the leader.” In the past, investors pursuing this strategy have followed the moves of such luminaries as Warren Buffett, Jim Rogers, Bill Gross, and even the late Sir John Templeton.

But there’s now a potential new “leader of the pack” whose moves investors need to watch and even emulate.

We’re talking about China.

No billionaire investor or investment bank has the resources to match the … [visit site to read more]

VF Corp. Beats Zacks Consensus « Zacks Investment Research »

Posted: 11 Feb 2010 02:00 PM PST

VF Corp. (VFC), a leading manufacturer of branded lifestyle apparel, reported fourth quarter results on Thursday. The company posted earnings of $66.9 million on revenues of $1.92 billion in the quarter, compared to earnings of $115.9 million on revenues of $1.91 billion in the year-earlier quarter.
Excluding special items, earnings per share came in at $1.73, easily topping the Zacks Consensus Estimate of $1.46 per share derived from 14 covering analysts. The better-than-expected performance … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: CAT, PEP, FE « NYFP »

Posted: 11 Feb 2010 01:55 PM PST

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

Uranium Investing: Another Buying Opportunity? « Daily Reckoning »

Posted: 11 Feb 2010 01:45 PM PST

The next few years should be good times for those that produce uranium, the feedstock for nuclear reactors
In looking at supply and demand, it seems clear that we'll need more uranium than we mine now. At least if we expect to run all the power plants that are on the board. The World Nuclear Association (WNA) reports there are 50 nuclear reactors under construction around the world that'll need some 23 million pounds of U308. (U308 is the oxide you get when you mine uranium ore.) There are … [visit site to read more]

BorgWarner Trounces Estimates « Zacks Investment Research »

Posted: 11 Feb 2010 01:42 PM PST

BorgWarner Inc. (BWA) has revealed a profit of 42 cents per share (before special items) in the fourth quarter of 2009 compared to a breakeven result in the prior-year quarter. The profit was double the Zacks Consensus Estimate of 21 cents per share. The EPS growth was driven by sales growth and the lean cost structure of the company.
Consolidated sales in the quarter rose 29% to $1.2 billion. Sales in the Engine segment went up 25.4% to $850.3 million as demand for turbochargers and engine … [visit site to read more]

Teradata Beats, Outlook Robust « Zacks Investment Research »

Posted: 11 Feb 2010 01:25 PM PST

Today, Teradata Corporation (TDC) reported earnings for the fourth quarter of fiscal year 2009 of 48 cents per share, up 6.7% from 45 cents per share reported in the year-ago quarter. The company easily beat the Zacks Consensus Estimate of 37 cents per share.
Earnings benefited from improved operational performance, a lower tax rate, higher gross margin and increased revenue. As a result, net margin improved to 16.9% from 16.0% in the year-ago quarter.
Total revenue increased marginally by … [visit site to read more]

Alan Greenspan, Party Boy « Daily Reckoning »

Posted: 11 Feb 2010 01:15 PM PST

"It's important to remember that equity values, stock prices, are not just paper profits. They actually have a profoundly important impact on economic activity. And if stock prices start continuing down, I would get very concerned."
-Former Federal Reserve Chairman Alan Greenspan, Meet the Press, February 7, 2010
Alan Greenspan is as confused in retirement as when he ran the Fed. Most mortals, quoted as often as Greenspan, would justifiably worry such contradictions of past contentions … [visit site to read more]

ProLogis Shows Stabilization « Zacks Investment Research »

Posted: 11 Feb 2010 01:09 PM PST

ProLogis (PLD), one of the leading global providers of distribution facilities, showed continued signs of stabilization in the industrial property market fundamentals in its fourth quarter 2009 results.
Funds from Operations (FFO), a widely used metric to gauge the performance of REITs, and obtained after adding depreciation and amortization and other non-cash expenses to net income, was 13 cents during the quarter excluding significant non-cash items, compared to 56 cents in the year-earlier … [visit site to read more]

Why The U.S. Dollar ETF Is Looking Up « Tom Lydon »

Posted: 11 Feb 2010 01:01 PM PST

Once upon a time, weren’t we able to buy more stuff with our dollars? The U.S. dollar, along with related exchange traded funds (ETFs), has dropped in value, but it still hasn’t lost its appeal.

According to Bloomberg Correlation-Weighted Currency Indexes, the U.S. dollar is about as valuable now as it was back in 1975, writes Ben Levisohn for Bloomberg. Since November, the U.S. dollar has appreciated 6%, but it still depreciated 12% in the first 11 months of 2009.

Still, demand for the … [visit site to read more]

Phase Forward Tops Estimates « Zacks Investment Research »

Posted: 11 Feb 2010 12:53 PM PST

Phase Forward Incorporated (PFWD) reported revenues of $58.8 million in the fourth quarter of 2009, up 22% from a year ago. Excluding a $597,000 purchase accounting adjustment to record deferred revenues and backlog assumed in acquisitions at fair value, revenues came in at $59.4 million.
Within total revenues, electronic data capture (EDC) license, application hosting and other related revenues were $41.6 million, up 18% from the year-ago quarter and accounting for 70% of total revenues. … [visit site to read more]

Phillip Morris Beats Consensus « Zacks Investment Research »

Posted: 11 Feb 2010 12:38 PM PST

Philip Morris International Inc. (PM) reported fourth-quarter results with earnings of 80 cents per share. Earnings were above the Zacks Consensus Estimate of 78 cents and were up 12.7% year-over-year.
Net revenues increased 9.7% to $6.7 billion, attributable to favorable currency translations and pricing across all regions. This was partially offset by unfavorable volume mix primarily in the EU region.
On an organic basis (excluding currency and acquisitions), revenues increased 7.9%, driven … [visit site to read more]

Ecolab Misses, Outlook Disappoints « Zacks Investment Research »

Posted: 11 Feb 2010 12:24 PM PST

Ecolab Inc. (ECL) reported fourth quarter earnings of $115.8 million, compared to $80.0 million in the year-ago quarter. Excluding special items, adjusted earnings per share came in at 55 cents, which narrowly missed the Zacks Consensus Estimate of 56 cents per share.
The worse-than-expected results was primarily attributable to the adverse impact of severe macroeconomic headwinds on Ecolab’s foodservice and hospitality markets.
Ecolab also stated that its end markets are unlikely to witness … [visit site to read more]

An Insider’s View Of The Real Estate Train Wreck « Daily Reckoning »

Posted: 11 Feb 2010 12:15 PM PST

The first time I spoke with real estate entrepreneur Andy Miller was in late 2007, when I asked him to serve on the faculty of a Casey Research Summit. And there was no one in the nation I wanted more than Andy to address the critical topic of real estate.
My interest in Andy was due to the fact that he has been singularly successful in pretty much all aspects of the real estate market, including financing and developing large projects – such as shopping centers, apartment communities, office … [visit site to read more]

Shutterfly Tops Zacks View « Zacks Investment Research »

Posted: 11 Feb 2010 12:08 PM PST

Shutterfly Inc.'s (SFLY) fourth quarter earnings of $24.1 million or 88 cents per share were well ahead of the Zacks Consensus Estimate of 70 cents per share. The company had reported earnings of $14.4 million or 56 cents in the year-ago quarter. The results were driven by better-than-expected growth in revenue.
For full year 2009, Shutterfly earned $5.9 million or 22 cents per share, up from $3.7 million or 14 cents per share a year ago. Revenues were up 15% to $246.4 million.
For the … [visit site to read more]

Global Liquidity Squeeze Could Drown Increased Oil Demand, Resulting In Lower Oil Prices « Keith Schaefer »

Posted: 11 Feb 2010 12:01 PM PST

The oil price could tread water or go lower over the coming months, even as global oil demand slowly increases - because of a surprisingly steady and rising US dollar.

Surprisingly, because US economic data is not all that strong, so in one sense the dollar has no reason to go up. Same store sales at Walmart (WMT) and McDonalds (MCD) are down.  Government tax receipts are lower.

But if Europe is falling apart with Greece’s debt problems (and investors worried about a domino effect … [visit site to read more]

Ruling Expected On Slim’s AMX « Zacks Investment Research »

Posted: 11 Feb 2010 11:51 AM PST

Mexico’s antitrust regulator "COFECO” is expected to rule on America Movil's (AMX) $21 billion proposed consolidation plan today. Latin America's largest wireless carrier, which is controlled by Mexican billionaire Carlos Slim, launched a plan in January 2010 to acquire Mexican wireline operators Carso Global Telecom and Telmex Internacional (TII) or Telint.
This represents one of the biggest consolidation initiatives in Latin American telecom. America Movil is consolidating to … [visit site to read more]

PepsiCo Reports In Line « Zacks Investment Research »

Posted: 11 Feb 2010 11:37 AM PST

PepsiCo Inc. (PEP) reported strong fourth quarter results with earnings of 90 cents per share. This was in line with the Zacks Consensus Estimate and up 96% year-over-year. The strong results were driven by strong gains in the worldwide snacks and international beverage businesses.
However, net sales for the quarter increased by 4.5% year-over-year to $13.3 billion. The increase was attributable to gains in Latin America Foods – LAF (+11%), Frito-Lay North America - FLNA (+2.0%), Pepsi … [visit site to read more]

Marriott Beats, Raises Outlook « Zacks Investment Research »

Posted: 11 Feb 2010 11:33 AM PST

Marriott International (MAR) has reported fourth quarter earnings of 32 cents per share, 6 cents ahead of the Zacks Consensus Estimate of 26 cents. Results were also above the company's guidance of 20 cents to 23 cents issued at the time of the third quarter earnings release back on October 8, 2009, but were down 3% year-over-year.
Results reflected higher-than-expected revenue as a result of sustained leisure demand driven by promotional activities. Additionally, business travel showed … [visit site to read more]

Keeping An Eye On 13-F Filings « Daily Reckoning »

Posted: 11 Feb 2010 11:30 AM PST

13-F filings. Usually, they're like watching grass grow — unless someone from Berkshire Hathaway is involved. Tuesday was a little different.
In short, 13-Fs are the form institutional investors have to send the SEC when moving $100 million or more. This 13-F, dear reader, is one everyone should see:

These investments weren't all made in the fourth quarter of 2009. And they total less than $10 billion. But still… the biggest holder of the US national debt is slowly purchasing a very … [visit site to read more]

ProShares Launches Eight 3x Leveraged ETFs « Michael Johnston »

Posted: 11 Feb 2010 11:22 AM PST

ProShares, the ETF issuer known for its 2x leveraged and inverse ETFs, announced today the launch of eight new 3x and -3x leveraged ETFs covering four major U.S. equity indexes. The benchmarks covered by the new ETFs include the NASDAQ-100, Dow Jones Industrial Average, S&P MidCap 400, and Russell 2000.
The new fund launches bring the number of 3x leveraged ProShares ETFs to ten. The company launched the UltraPro S&P 500 (UPRO) and UltraProShort S&P 500 (SPXU) in June 2009, and … [visit site to read more]

H-P, 3Com Deal Set For EU Approval « Zacks Investment Research »

Posted: 11 Feb 2010 11:15 AM PST

The world's largest computer manufacturer Hewlett-Packard Company (HPQ) is all set to get the approval from the European Union, to move ahead with its acquisition of network equipment manufacturer 3Com Corporation (COMS).
Hewlett Packard disclosed its plans of taking over 3Com Corporation in November 2009. The acquisition, valued at $2.7 billion, enables H-P to challenge networking leader Cisco Systems Inc. (CSCO) and grab an additional share of the networking business.
3Com’s expertise … [visit site to read more]

Are Homebuilder Stocks Looking Strong Again? « Tradesman »

Posted: 11 Feb 2010 11:01 AM PST

Seems like the home building sector is back in business in the States. One observation is that some of the homebuilding stocks are pretty strong during this past weeks of selldown and are in fact moving on an uptrend.

DR Horton Inc. (DHI)

Take a look at the charts of DR Horton On 2nd Feb, the volume, stock gapped up on high volume and subsequently consolidated around a tight flag formation with volume drying up. MACD, RSI are all showing bullish trend and take note the stock is … [visit site to read more]

Isis Falls On Drug Concerns « Zacks Investment Research »

Posted: 11 Feb 2010 10:58 AM PST

Shares of Isis Pharmaceuticals Inc. (ISIS) slipped more than 2% despite the company reporting positive results on its lead pipeline candidate, mipomersen. Isis and partner, Genzyme Corp. (GENZ) recently announced positive results from a phase III study. 

Data showed that patients suffering from heterozygous familial hypercholesterolemia (heFH) experienced a 28% reduction in low density lipoprotein (LDL) or "bad” cholesterol after 26 weeks of treatment with mipomersen. In contrast, … [visit site to read more]

Video: Crude Rises On Demand Forecast « NYFP »

Posted: 11 Feb 2010 10:53 AM PST

Front month crude prices received a boost this session following an upgrade to the International Energy Agency’s daily crude demand forecast. … [visit site to read more]

Video: Rio Tinto Reports Strong 2009 Net Profit Figures « NYFP »

Posted: 11 Feb 2010 10:49 AM PST

Australian mining company Rio Tinto announced Thursday that it recorded a 33% increase in net profit for 2009 on record sales. … [visit site to read more]

Greek Vs. California CDS Prices: Twins Or Distant Cousins « Daily Reckoning »

Posted: 11 Feb 2010 10:45 AM PST

Let's begin today's edition with a riddle:
What location in the world is famous for its sun-drenched beaches, azure seas, arid Mediterranean climate, rugged coastlines, olive trees, earthquakes, smoggy cities, hedonistic mythology, dismal government finances and well-preserved antiquities?
That's right, California.
If you answered "Greece", you did not read the riddle carefully. The antiquities of Newport Beach are far better preserved than anything you could find in Athens. … [visit site to read more]

Vaccines Lift Sanofi’s Revenues « Zacks Investment Research »

Posted: 11 Feb 2010 10:43 AM PST

Sanofi-Aventis (SNY) reported fourth quarter earnings of 94 cents per American Depository Share (ADS), a couple of cents below the Zacks Consensus Estimate. The company reported earnings of 88 cents in the year-ago period. For the full year, earnings came in at $4.47 per ADS, well above the Zacks Consensus Estimate of $4.35 and the year-ago earnings of $4.11. Full year revenues increased 6.3%. 

Fourth Quarter Performance 

Fourth quarter revenues increased 3.8% with performance … [visit site to read more]

MoneyGram Upgraded « Zacks Investment Research »

Posted: 11 Feb 2010 10:28 AM PST

Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation on the shares of MoneyGram International Inc. (MGI) to Outperform from Neutral. 

Although the current economic turmoil has weakened both the revenue growth and the operating leverage of MoneyGram, we believe that once the economy stabilizes, it will have a substantial positive effect on its earning power of the company. 

MoneyGram's fourth quarter loss of 4 cents per share … [visit site to read more]

Video: Euro Slides As Greece Gets Assistance « NYFP »

Posted: 11 Feb 2010 10:20 AM PST

The euro currency continued to slide this session following news that the EU will assist Greece with its debt issues. … [visit site to read more]

Video: Market Movers: LF, AYE, BSX, MMM, GSK, XRX « NYFP »

Posted: 11 Feb 2010 10:17 AM PST

The latest news and information on U.S. stocks that are moving the market. … [visit site to read more]

Quality Systems Expands « Zacks Investment Research »

Posted: 11 Feb 2010 10:13 AM PST

Recently, Quality Systems Inc. (QSII) signed an agreement to acquire Opus Healthcare Solutions, Inc., which delivers web-based clinical solutions to hospital systems and integrated health networks. The acquisition complements and will be combined with the assets of Sphere Health Systems, Inc. (a service provider of information systems to healthcare facilities), acquired in August 2009.
 
Both Opus Healthcare and Sphere Health Systems will become part of NextGen Healthcare Information … [visit site to read more]

The Economics Of Human Nature « Daily Reckoning »

Posted: 11 Feb 2010 10:10 AM PST

Not much action in the financial markets yesterday. The Dow fell 20 points…completely inconclusive. We don't know whether the final stage has begun or not. We think it has…but we're not sure.
The big action was in the bond market, where the US government tied its all-time record by borrowing $25 billion worth of 10-year notes. All in all, the sale went well…but yields rose slightly…to 3.69%. At some point, bond yields will rise decisively to the upside. But whether that has begun or … [visit site to read more]

Forex Trading: EURUSD Is Testing 1.3674/82 Resistance Area « Greg Michalowski »

Posted: 11 Feb 2010 10:01 AM PST

The EURUSD is up testing the 38.2% retracement and the low from yesterday at the 1.3674 area.  We should see some profit taking at the level.  A break above will look to test the 1.3698 area. On the downside, the 1.3642 level is now support. Looking more closely…we need to get through 1.3655 first…. Not a good risk reward to be … [visit site to read more]

Merck: Earnings Preview « Zacks Investment Research »

Posted: 11 Feb 2010 09:57 AM PST

Merck (MRK) is scheduled to report its fourth quarter and 2009 results on Feb 16. The Zacks Consensus Estimate for the quarter and full year is pegged at a profit of 78 cents and $3.27 per share, respectively. Earnings estimates for the fourth quarter and 2009 have moved down over the past 30 days as 4 out of the 14 analysts lowered their estimates. In contrast, only 2 analysts raised their expectations.
Going by the past trend, Merck has consistently surpassed expectations. Merck had a … [visit site to read more]

AutoNation Profit More Than Doubles « Zacks Investment Research »

Posted: 11 Feb 2010 09:51 AM PST

AutoNation, Inc. (AN) has posted a profit of $50 million or 29 cents per share (before special items) in the fourth quarter of 2009, which is more than double the $23 million or 13 cents per share (before special items) in the prior-year period.
The largest automotive retailer in the U.S. has also inched past the Zacks Consensus Estimate of 27 cents per share. The company attributed the EPS growth to a lowering of structural costs and debt levels and an efficient management of its … [visit site to read more]

Core Labs Beats But Profit Dips « Zacks Investment Research »

Posted: 11 Feb 2010 09:39 AM PST

Oilfield services provider Core Laboratories N.V. (CLB) reported better-than-expected fourth quarter results, driven by robust demand for its products and rebound in North American activity levels. Earnings per share, excluding special items, came in at $1.25, surpassing the Zacks Consensus Estimate by 5 cents.
 
Despite the ongoing recovery, the company continues to feel the pressure from the still depressed pricing and sales. As a result, on a year-over-year basis, Core Labs' … [visit site to read more]

Statoil Misses On Lower Gas Prices « Zacks Investment Research »

Posted: 11 Feb 2010 09:22 AM PST

Statoil ASA (STO) reported significantly weaker-than-expected fourth quarter results. Quarterly earnings came in at 40 cents per share, compared to the Zacks Consensus Estimate of 53 cents and year-earlier profit of 9 cents. Revenue for the quarter was NOK 122.6 billion ($21.6 billion), down 18% year over year.
Statoil continues to maintain a high activity level in Norway and abroad. While equity production was up 2%, entitlement production was essentially flat year over year. The increase in … [visit site to read more]

These Two Petrochemical Companies Have Exactly What The Global Recovery Needs « Tony D’Altorio »

Posted: 11 Feb 2010 09:18 AM PST

While investors in the West continue to vacillate between hope and despair over the possibility of an economic recovery, Asia has some much more definitive signs to go off of.
Take the price surge in petrochemicals, an oil product used in everything from toys to mobile phones prices. The benchmark Platts Global Petrochemical Index, which tracks the cost of major petrochemicals including ethylene, benzene and propylene, recently rose to about $1,200 per ton. That's the highest price since … [visit site to read more]

Greek Debt Crisis: Overstating The Obvious « Daily Reckoning »

Posted: 11 Feb 2010 07:00 AM PST

Alas, the markets will worry about housing on another day… Today, they're still feverish with the swine flu. The smallest of the PIGS – Greece – is still a cause for concern…and hallucinations. The Dow and S&P shot up 1.5% yesterday, their best day in more than a month, on rumor that the EU was assembling a debt bailout for the Greeks.
"Greece is not a critical weight-bearing pillar of the euro house of cards," counters our Alan Knuckman, advising resource traders on how to … [visit site to read more]

Analyst Interviews: Airline Industry Stock Review « Zacks Investment Research »

Posted: 10 Feb 2010 09:00 PM PST

Airlines are highly susceptible to negative financial impacts caused by major changes in the global economy that drive sudden severe swings in costs or revenues. During 2009, the combined forces of extensive competition and a severe global recession drove numerous U.S. and international carriers to file for bankruptcy and, in some cases, to liquidate.
While fuel costs have significantly fallen since reaching historic highs in the summer of 2008, overall demand for airline services has … [visit site to read more]
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