Feb 5, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

US Economic Forecast 2010-2011: Looking Better « Bill Conerly »

Posted: 05 Feb 2010 06:01 PM PST

I just updated my economic forecast, taking into account the new GDP data released by the government last week.  Fourth quarter growth came in stronger than I had expected–and everyone has been telling me I’m an optimist!

Here’s how the new forecast looks:

The dark blue columns are actual data (though subject to revision by the government), and the light blue columns are my forecast growth rates.  The red line is the average growth rate of all the post-World War II recoveries.  … [visit site to read more]

Big Upswing In The US Stock Market « Chris Barton »

Posted: 05 Feb 2010 05:31 PM PST

Um … about that last post … never mind

I felt pretty good about my take on the markets earlier today.  Then the market rallied at the last hour and a half of the trading day.  The market hit the 200 ema, and bounced off of this level to close the day higher.

The big upswing at the end of the day created a bit of a Hammer Candle for the daily chart.  The hammer formation may signal the end of a downward trend.

From here we night see 5% upside.  That would take the S&P … [visit site to read more]

The U.S. Small Business Administration (SBA) Bailing Out Some CRE? « Larry Doyle »

Posted: 05 Feb 2010 05:01 PM PST

What is the mission of the SBA, the Small Business Administration?
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America’s future, and to … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: AET, TSN, PC « NYFP »

Posted: 05 Feb 2010 04:11 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Smartphone Market To Become Ultra Competitive In 2010 « Money Morning »

Posted: 05 Feb 2010 04:01 PM PST

Are you one of those holdouts who hasn’t yet jumped into the high-tech world of smartphones? Well get ready, because the mobile-phone makers of the world are about to make you an offer that will be very difficult to refuse.

This may be the year when cheap prices finally drag millions of behind-the-curve consumers into the blossoming smartphone market, unleashing unprecedented strains on broadband networks as handset makers wage a price war in the midst of booming demand.

“The smartphone … [visit site to read more]

When Will Euro-PIGS Fly? « Larry Doyle »

Posted: 05 Feb 2010 03:01 PM PST

Wall Street has more than bulls and bears. Trading desk banter often refers to the presence of 'pigs’ in the market. Years removed, I can still hear traders saying, “this market’s a pig,” “this bond’s a pig,” and “that account is a pig.” Well, with my morning coffee I saw a new utilization of this famed reference. I chuckled but also realized the seriousness of the new pig reference in regard to the increasingly dire fiscal situation in the European Union.

What are the PIGS across the … [visit site to read more]

“Every Single Human Being” Should Short Treasuries « Daily Reckoning »

Posted: 05 Feb 2010 03:00 PM PST

No, the headline is not a paid promotion for The Daily Reckoning's new and current Trade of the Decade… but it sure sounds like one. Author of "The Black Swan," Nassim Nicholas Taleb, reflecting upon the fiscal and monetary policies in the US, sees it as a "no brainer" that "every single human being should have that trade."
According to BusinessWeek:
"Taleb said investors should bet on a rise in long-term U.S. Treasury yields, which move inversely to prices, as long as … [visit site to read more]

Falling Copper Prices: The Doctor Is Out « Daily Reckoning »

Posted: 05 Feb 2010 03:00 PM PST

The bust in the economy ain't so bad either. Credit default swap spreads are widening. Bond yields are rising…especially in Europe.
The service sector in the US is performing below expectations.
Oh…and listen to this:
"More weigh walking away from mortgages," says The New York Times. As anticipated, people are warming up to the idea of stiffing their mortgage lenders. Why not? Millions of houses are underwater; let the mortgage company deal with them.
Delinquent mortgage payments have … [visit site to read more]

Microchip Demonstrates Growth « Zacks Investment Research »

Posted: 05 Feb 2010 02:45 PM PST

Microchip Technologies Incorporated (MCHP) reported net sales of $250.1 million in the third quarter of fiscal 2010, up approximately 10.3% sequentially and up 30.1% year-over-year.
Revenues from all three product lines — Microcontrollers, Analog and Serial EEPROMs — grew in the quarter. The Microcontroller business grew 10% sequentially and up 30% year over year. Analog business was up 14.1% sequentially and up 40% year over year. Growth was especially strong in the linear, interface and … [visit site to read more]

Simon Property Quarterly FFO Dips « Zacks Investment Research »

Posted: 05 Feb 2010 02:34 PM PST

Simon Property Group Inc. (SPG), a leading real estate investment trust (REIT), reported fourth quarter 2009 FFO (funds from operations) of $485.2 million or $1.40 per share, compared to $540.5 million or $1.86 per share in the year-earlier quarter.
Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding non-recurring items, FFO for the quarter was $573.3 million … [visit site to read more]

Daily ETF Roundup: GDX Jumps, SCZ Sinks « Michael Johnston »

Posted: 05 Feb 2010 02:29 PM PST

Wall Street's focus was on jobs on Friday, as investors digested an employment rate that showed an unexpected decline in the unemployment rate but also revealed that more jobs were lost last month than anticipated. Markets showed significant volatility throughout the day, but a late rally pushed most equity major benchmarks into the black for the final trading day of the week. Elsewhere, big banks made announcements of executive compensation that are likely to bring on another wave of public … [visit site to read more]

Notes On Unemployment Duration « Zacks Investment Research »

Posted: 05 Feb 2010 02:28 PM PST

One of the most notable features of the Great Recession relative to that of all previous recessions is that in this one, once you lose your job, it has been incredibly difficult to find a new one. As a result, people have been pounding the pavement looking for work for periods of time that would have been unheard of in any other downturn.
There are two basic measures of unemployment duration provided in the monthly employment report — the average (mean) duration and the median duration. The … [visit site to read more]

MoneyGram Misses Expectations « Zacks Investment Research »

Posted: 05 Feb 2010 02:21 PM PST

MoneyGram International Inc. (MGI) reported a fourth-quarter loss per share of 4 cents, worse than the Zacks Consensus Estimate of a loss of 2 cents.
Results included a curtailment gain on the company’s benefit plans ($15.5 million) that was partially offset by other one-time costs such as stock-based compensation and severance costs ($7.1 million) and asset write-downs ($6.1 million). Net income included a $20.3 million tax benefit related to net securities losses in 2007 and 2008.
Including … [visit site to read more]

NCR Tops As Revenue Tumbles « Zacks Investment Research »

Posted: 05 Feb 2010 02:07 PM PST

NCR Corporation's (NCR) fourth quarter EPS of 37 cents exceeded the Zacks Consensus Estimate of 26 cents.
Revenue
NCR reported revenue of $1.35 billion in the fourth quarter, a decrease of 5.0% from $1.42 billion in the year-ago quarter. Year-over-year revenue was impacted by global economic conditions, which had a substantial negative impact on the global financial services, retail and hospitality industries.
The company reports results according to the various geographic segments. … [visit site to read more]

Video: Despite Record Losses, British Airways On The Right Course « NYFP »

Posted: 05 Feb 2010 02:02 PM PST

British Airways announced Friday that its cost-cutting efforts has helped put the airline on the right course. However, it will not prevent them from posting record losses in the current year. … [visit site to read more]

Video: Another Huge Slide For Crude « NYFP »

Posted: 05 Feb 2010 02:00 PM PST

Front month crude prices posted another steep drop this session following a huge drop in US equity markets & mixed jobs data. … [visit site to read more]

Liquid Natural Gas: The Next Resource Boom? « Daily Reckoning »

Posted: 05 Feb 2010 02:00 PM PST

Australia is on its way to becoming to natural gas what the Middle East is to oil. This could become Australia's biggest resource boom yet.
Asia is the fastest growing market for liquid natural gas (LNG). Currently, Japan is the largest buyer. Japan and South Korea together make up 53% of current global regasification capacity. (That is, the ability to import LNG and turn it back into a gas for consumer and industrial use.) But demand elsewhere in Asia is catching up:

So how will the market … [visit site to read more]

In Sum, Still Pretty Bad « Michael Panzner »

Posted: 05 Feb 2010 01:56 PM PST

The Federal Reserve Bank of Minneapolis has posted an interesting interactive feature at its website, “The Recession and Recovery in Perspective,” which allows visitors to visualize the length and depth of 11 postwar recessions in various ways. Here are two examples:

Despite continued speculation on Wall Street and elsewhere that economic recovery is upon us, these images sum up just how bad things have been during the current downturn.
Click here to explore the other options, including an … [visit site to read more]

Tyson Foods Beats Zacks Estimate « Zacks Investment Research »

Posted: 05 Feb 2010 01:51 PM PST

Tyson Foods Inc. (TSN) reported results for the first quarter of fiscal 2010 with earnings of 42 cents per share.  Earnings were well above the Zacks Consensus Estimate of 18 cents, and were up compared to a net loss of 27 cents per share in the prior-year quarter.
Revenue for the quarter increased marginally by 1.7% year-over-year to $6.6 billion. Higher revenues in Tyson's Chicken and Beef divisions were offset by revenue declines in the Pork and Prepared Food segments.
Sales in the … [visit site to read more]

2010 Rancho Mirage Speakers Series « Robert Reich »

Posted: 05 Feb 2010 01:51 PM PST

2010 Rancho Mirage Speakers Series:
Event Details
The City of Rancho Mirage and Eisenhower Medical Center proudly present the 2010 Rancho Mirage Speakers Series. The program presents Scott Turow, a best-selling author; Robert Reich, a leading economic thinker; and to wrap up the series, silver screen icon and Tony Award Winner, Lauren Bacall.
Programs take place at the Annenberg Center for Health Sciences at Eisenhower, 39-000 Bob Hope Drive in Rancho Mirage. Doors open at 6:30 p.m. and … [visit site to read more]

Aimco Reports Modest Results « Zacks Investment Research »

Posted: 05 Feb 2010 01:33 PM PST

Apartment Investment and Management Company, or Aimco (AIV), as the real estate investment trust (REIT) is popularly known, reported fiscal 2009 fourth quarter funds from operations (FFO) of $30.2 million or $0.26 per share compared to FFO loss of $28.9 million or $0.32 per share in the year-ago period.
Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Excluding the … [visit site to read more]

Hope Of Economic Recovery Even In Michigan « Mark Perry »

Posted: 05 Feb 2010 01:31 PM PST

Comerica Bank’s Michigan Economic Activity Index rose 4 points in December, fully reversing the decline in November. The fourth quarter average was up 2.3% from the third quarter and up 9% compared to the second quarter, which was the cyclical low. The Index averaged 74 for all of 2009, 13 points below the 2008 average.

“The broad-based improvement evidenced in our Index since May surfaced again in December, with seven out of nine variables contributing positively to the Index,” … [visit site to read more]

Hain Celestial’s Earnings In-Line « Zacks Investment Research »

Posted: 05 Feb 2010 01:18 PM PST

The Hain Celestial Group, Inc. (HAIN) recently reported second-quarter 2010 results buoyed by strong profit generation at its North American and Continental European operations.
The quarterly earnings of 31 cents a share were in line with the Zacks Consensus Estimate, and soared 72.2%% from 18 cents delivered in the prior-year quarter. The year-ago quarter excludes the net income of 2 cents a share from Hain Pure Protein (HPP). Hain Pure Protein Corporation processes, markets and distributes … [visit site to read more]

Allegheny Tops Zacks View « Zacks Investment Research »

Posted: 05 Feb 2010 01:06 PM PST

Allegheny Energy (AYE) has beaten the Zacks Consensus EPS estimate of 51 cents by reporting EPS of 66 cents in the fourth quarter of fiscal 2009. The upbeat trend was reflected in fiscal 2009 results as well, where EPS of $2.33 shot past Zacks Consensus EPS estimate of $2.17 and fiscal 2008’s $2.30 per share.
Out of the 12 analysts covering the stock, two have revised downwards their estimates in the last 30 days for fiscal 2010. Allegheny Energy's upsurge in earnings has yet to be … [visit site to read more]

Quick Short Of The Day- SanDisk « Tradesman »

Posted: 05 Feb 2010 01:02 PM PST

Sandisk (SNDK) is showing weakness after gap down from $28 on the 29 Jan. The 3 white candlestick with price increase shows very weak strength in the stock as confirmed by the low volume. This looks like a bearish falling 3 method which is a bearish continuation pattern. Stock is most likely to trend downwards with initial support at $24 and if broken, the stock could march to $22 to meet the 200D MA where a stronger support could be … [visit site to read more]

First Trust Planning Active ETFs « Michael Johnston »

Posted: 05 Feb 2010 12:54 PM PST

First Trust, best known for its line of AlphaDEX ETFs that utilize quantitative analysis to select holdings poised for outperformance, is planning a pair of full-blown active ETFs. The proposed funds are the First Trust Developed International Markets AlphaDEX Fund and the First Trust Emerging Markets AlphaDEX Fund. The SEC filing notes that the funds will be actively-managed, and not seek to track the performance of a specified index.
The developed markets fund will seek to identify companies … [visit site to read more]

Arrow Electronics Beats « Zacks Investment Research »

Posted: 05 Feb 2010 12:50 PM PST

Arrow Electronics Inc. (ARW) reported sales of $4.20 billion in the fourth quarter of 2009, up 3% from a year ago and up 15% sequentially.
Global components sales of $2.59 billion increased 6% year over year driven by better-than-expected performance in all the core geographies. On a sequential basis, sales were up 2%. North America and Europe continued to show improving sales trends, with both regions delivering sales growth well ahead of normal seasonality. Asia-Pacific continued to grow, … [visit site to read more]

4 Signs You’re Getting Emotional With ETFs « Tom Lydon »

Posted: 05 Feb 2010 12:45 PM PST

Our flight-or-fight responses may be a primitive psychological trait we’ve inherited from our caveman ancestors, but that doesn’t mean we need to heed those emotions when we invest. It is important to stay rational when investing in the marketplace and exchange traded funds (ETFs), otherwise we will be subject to the errors our emotions bring forth.

According to David Allison for Investopedia, there are some specific phrases to look out for, especially since they may signal mental errors and … [visit site to read more]

Vodafone Sales, Guidance Higher « Zacks Investment Research »

Posted: 05 Feb 2010 12:35 PM PST

International telecom titan Vodafone Group Plc (VOD) has announced key performance indicators for the third quarter of fiscal 2010. In its interim management statement for the quarter, the world's largest wireless carrier by sales reported consolidated revenues of £11.5 billion (US$18.8 billion), representing 10.3% year-over-year growth.
Healthy contribution from the Asia-Pacific and Middle East operations contributed to the revenue growth. Vodafone did not report earnings in its quarterly … [visit site to read more]

Assurant Lags Zacks Consensus « Zacks Investment Research »

Posted: 05 Feb 2010 12:23 PM PST

Assurant Inc. (AIZ) fourth quarter earnings of 86 cents per share lagged behind the Zacks Consensus Estimate of $1.01. Results also compared unfavorably with earnings of $1.30 in the year-ago quarter. Earnings were strained by restructuring charges of $12.3 million and a net operating loss of $29.7 million at Assurant Health. 

With all of Assurant's businesses experiencing modest downturns in the current recessionary environment, net earned premiums declined 4% year-over-year to $1.9 … [visit site to read more]

In-line Results For Spectra Energy « Zacks Investment Research »

Posted: 05 Feb 2010 12:08 PM PST

Spectra Energy Corporation (SE) reported fourth quarter results of 33 cents per share, in line with the Zacks Consensus Estimate and the year-earlier earnings of 32 cents. The quarterly results showed a sound contribution from the company's fee-based businesses in an improving commodity-price environment and a stronger Canadian dollar. 

Spectra's experience of an earnings surprise for the preceding four quarters varies between 7.1% and 15.8%, with the average being 11.5%. There was … [visit site to read more]

Everybody Off The Beach! « Daily Reckoning »

Posted: 05 Feb 2010 12:00 PM PST

Last August, it was reported that deflation in Japan had reached a new record. Prices were dropping at the fastest pace 38 years. By November, it was duration, rather than depth, that got the press's attention. Prices had been going down for 10 months in a row. Then, last week an update:
"Japan Deflation Hits a Record Pace," reported the BBC. Prices in Japan were falling faster than they ever had since they began keeping track in 1970. The tide has gone out so far; beachcombers can't … [visit site to read more]

Noble Corp Initiated At Neutral « Zacks Investment Research »

Posted: 05 Feb 2010 11:53 AM PST

We recently initiated coverage on Noble Corporation (NE) with a Neutral recommendation and a $43 target price. 

Switzerland-based Noble Corporation is a provider of diversified services for the oil and gas industry. The company performs contract drilling services with a fleet of 63 mobile offshore drilling units, including 13 semisubmersible rigs, 4 drillships, 43 jackups and 3 submersibles. It also provides labor contract drilling, engineering and consulting, and project management … [visit site to read more]

Profit From The First Biofuel Winner - Before It Goes Public « Money Morning »

Posted: 05 Feb 2010 11:50 AM PST

Weeds are hardly my favorite flora. My hay fever doesn’t like them and neither does my lawn. But a flax called camelina - needing little nitrogen and water - may just be the first big winner in renewable biofuels.

It is going to provide investors with a whole new way to play the renewable energy market. And its impact will be, quite literally, up in the air.

Anybody who flies has been feeling the pinch of exploding ticket prices. Having jetted over a quarter of a million miles in the last … [visit site to read more]

Stable Performance By Stericycle « Zacks Investment Research »

Posted: 05 Feb 2010 11:38 AM PST

Stericycle Inc. (SRCL) reported fourth quarter earnings of 55 cents in the third quarter, in line with the Zacks Consensus Estimate and up 22% from 45 cents reported in the fourth quarter of 2008. 

Quarterly revenue increased 14.4% to $313.5 million, compared to $274.0 million in the same period a year ago. Excluding the favorable foreign exchange impact, quarterly sales were up 13.5% compared to the fourth quarter of 2008. Around 9.5% of this growth was driven by … [visit site to read more]

Ameriprise Beats Estimates « Zacks Investment Research »

Posted: 05 Feb 2010 11:23 AM PST

Ameriprise Financial Inc.'s (AMP) fourth quarter core operating earnings per share of 91 cents were substantially ahead of the Zacks Consensus Estimate of 75 cents and 80 cents in the prior-year quarter. Core operating results exclude realized net investment gains/losses, non-recurring integration costs and other market impacts. 

Results for the quarter primarily benefited from increased asset-based fees from market appreciation, net inflows in wrap accounts and asset management and … [visit site to read more]

CME Group Misses Expectations « Zacks Investment Research »

Posted: 05 Feb 2010 11:08 AM PST

CME Group Inc. (CME) reported fourth quarter earnings of $3.37 per share, missing the Zacks Consensus Estimate of $3.44. However, including an impairment charge on investment in DME of $24 million and net favorable impacts to net income of $2 million related to the ERP settlement, GAAP diluted earnings were $3.04 per share for the quarter.
 
Management continues to focus on strict expense control through various cost-cutting initiatives. Total operating expenses including NYMEX holdings … [visit site to read more]

Ben Bernanke: The Very Model Of A Modern Pliant Bureaucrat « Daily Reckoning »

Posted: 05 Feb 2010 11:00 AM PST

Federal Reserve Chairman Ben S. Bernanke was a safe bet to win the Senate's vote for a second term. "Safe" is what the senators want and Bernanke passed the test. He is not a man inclined to make bold decisions. A former university administrator, his institutional mind will be just as slow to foresee the next financial crisis as it was incapable of forecasting the last.
Despite obvious signs the financial system was about to burst, Congress had no desire to touch Fannie Mae, Freddie … [visit site to read more]

Ready For The Bust In The Economy « Daily Reckoning »

Posted: 05 Feb 2010 10:57 AM PST

Here's a cartoon sent by one of our dear readers. We have readers all over the world. But Pamela must be one of the most remote. She lives on a tiny island in the middle of the Pacific. We've seen the photos. It looks stunningly beautiful. A South Pacific paradise.

It's a little surprising that someone who lives in such a paradise setting would trouble herself worrying reading The Daily Reckoning and worrying about macroeconomics. But the world of money is fascinating. And probably a lot … [visit site to read more]

PerkinElmer Tops Zacks Estimate « Zacks Investment Research »

Posted: 05 Feb 2010 10:53 AM PST

PerkinElmer Inc. (PKI) reported fourth quarter (ended Jan 3, 2010) earnings (excluding special items) of 43 cents per share, which was above the Zacks Consensus Estimate by 2 cents. The company had earned 46 cents in the year-ago quarter. 

For full year 2009, the company earned (excluding special items) $1.27 per share, which was above the Zacks Consensus Estimate by 2 cents. The company had earned $1.41 in fiscal 2008. 

Estimate Revisions Trend 
There were no estimate … [visit site to read more]

Employment Report « Zacks Investment Research »

Posted: 05 Feb 2010 10:53 AM PST

In general, the employment report released this morning was better than expected, but there were many cross-currents. There was a slight disappointment in the establishment survey's job count, which came in at a loss of 20,000 jobs, as job gains of 15,000 were expected. Also, the revisions to prior months were mostly negative.
This month is when we get the annual benchmark revisions for the whole prior year, not just the prior few months like we do most of the time. December's job losses … [visit site to read more]

Forex Trading: EUR/USD Under What Appears To Be Extreme Pressure « Greg Michalowski »

Posted: 05 Feb 2010 10:49 AM PST

In what can only be described as extreme, the EUR/USD has fallen heavily over the past few days of trading. After breaking cleanly below the 50% retracement level yesterday at 1.3800, the pair has continued its run to the downside. The EUR/USD is now within sight of the 61.8% Fibonacci level at 1.3483.
This however does not mean that traders should enter a trade at this time, however, with that said, now would be a good time to start finding an area of support where the pair will rest over the … [visit site to read more]

Video: Market Movers: ARG, APD, TSN, AET, MOT, LEAP « NYFP »

Posted: 05 Feb 2010 10:47 AM PST

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

Video: Euro At 8 Month Low Vs. Dollar « NYFP »

Posted: 05 Feb 2010 10:39 AM PST

The euro traded at an 8 month low against the dollar this session following more mostly disappointing economic data. … [visit site to read more]

Lower Q3 Loss For Alkermes « Zacks Investment Research »

Posted: 05 Feb 2010 10:38 AM PST

Alkermes Inc. (ALKS) reported a third quarter fiscal 2010 net loss of 3 cents per share (excluding items but including stock based compensation) compared with a loss of 9 cents in the year-ago period (excluding the impact of the termination of the collaboration agreements with Cephalon Inc. (CEPH) for Vivitrol but including stock based compensation). 

Estimate Revisions Trend 

Two of the 10 analysts covering the stock for the next quarter raised their earnings estimates over … [visit site to read more]

Suncor Posts Weak Results « Zacks Investment Research »

Posted: 05 Feb 2010 10:23 AM PST

Canada-based Suncor Energy Inc. (SU) reported weak fourth quarter results, adversely affected by higher expenses and royalty payments as well as less-than-expected production. Earnings per share, excluding certain items, came in at 9 Canadian cents (8 cents), well below the Zacks Consensus Estimate of 39 cents. In the year-ago period, Suncor earned 38 cents. However, revenue of C$7.6 billion was up 9.8% from the fourth quarter 2008 level. 

Estimate Revisions Trend 
It was the … [visit site to read more]

Sony’s Q3 Profit Jumps « Zacks Investment Research »

Posted: 05 Feb 2010 10:08 AM PST

Sony Corp. (SNE) recently reported fiscal third quarter results. The company recorded earnings of ¥79.2 billion ($861 million), which was sharply higher compared to ¥10.4 billion in the year-ago quarter. The growth was primarily driven by strong Financial Services revenue, robust sales of Vaio PCs and PlayStation 3 gaming consoles as well as stringent management efforts to control costs. 

During the quarter, consolidated sales grew by 3.9% year-over-year to ¥2.15 trillion ($24.3 … [visit site to read more]

Outlook For Emerging Market ETFs Still Looks Bright « Kevin Grewal »

Posted: 05 Feb 2010 10:01 AM PST

Despite the recent global market selloff, opportunities in emerging markets still remain relatively prevalent.

Most recently, the risk premium on JP Morgan’s Emerging Market Bond Index Global Fund rose by a whopping 14 basis points over U.S. Treasuries and the Bank of New York Mellon Emerging Markets ADR index dropped over 4%.  This descent in emerging market assets has been primarily driven by sovereign debt problems seen in the Euro Zone and an unstable U.S. employment market.

Other … [visit site to read more]

Cincinnati Financial « Zacks Investment Research »

Posted: 05 Feb 2010 09:53 AM PST

Cincinnati Financial's (CINF) fourth quarter net income of 53 cents per share was a penny ahead of the Zacks Consensus Estimate of 52 cents. Results lagged the prior year's earning of 57 cents. Earnings for the reported quarter dragged due to lower premiums from property-casualty and commercial lines, partially offset by a higher net investment income. 

Investment portfolio repositioning led to a 4.7% increase in investment income to $131 million. This also helped to boost total … [visit site to read more]

Geothermal Energy: The Stars Are Aligning For This Super-Green Resource « David Fessler »

Posted: 05 Feb 2010 09:46 AM PST

Friday, February 5, 2010: Issue #1191
Geothermal energy isn't a new concept in the United States.
It's actually been around for some time, with numerous geothermal power plants in California, Nevada and a few other western states. There are new plants on the drawing board, too. But unfortunately, the recession has stifled the construction progress on many of them.
But all that's about to change. Thanks to a few key technological developments and a big cash infusion from the government, … [visit site to read more]

Concur Reports Strong Results « Zacks Investment Research »

Posted: 05 Feb 2010 09:38 AM PST

Concur Technologies Inc (CNQR) reported total revenue for the first quarter of fiscal 2010 of $67.7 million. Total revenue for the quarter was up 16% from the year-ago quarter and up 4% from the prior quarter. Fiscal 2010 first quarter net income was $6.5 million, or 12 cents per share, exceeding company expectations.
 
Revenue reached an all time high at $68.7 million driven by 4% quarter-over-quarter growth in subscription revenue. Based on the data from prior recession, it is … [visit site to read more]

Baxter Downgraded « Zacks Investment Research »

Posted: 05 Feb 2010 09:23 AM PST

We recently downgraded Baxter International Inc. (BAX) to Neutral. The stock was assigned a target price of $59 based on an approximate P/E multiple of 13.9x our fiscal 2010 earnings estimate of $4.25. 

Baxter recently reported fourth quarter and fiscal 2009 results. For the fourth quarter, earnings per share were $1.03, in line with the Zacks Consensus Estimate and higher than the year-ago earnings of 91 cents. For full fiscal 2009, earnings per share were $3.80, again in line with … [visit site to read more]

Watch Out, England’s Shut The Quantitative Easing Spigot « Daily Reckoning »

Posted: 05 Feb 2010 09:15 AM PST

Today the Bank of England finally put the kibosh on quantitative easing (QE), after it wrapped up £200 billion of asset purchases last week. It's a big step in a return to normal monetary policy and a substantial vote of confidence in the recovery. That's a vote that could easily prove foolhardy, but is certainly bold… which is good too, right?
It's not that continuing the QE is a better strategy… it's just that the UK may have benefited most from never having begun a stimulus … [visit site to read more]

Pitney Bowes Exceeds Consensus « Zacks Investment Research »

Posted: 05 Feb 2010 09:08 AM PST

Pitney Bowes Inc. (PBI) reported fourth quarter 2009 earnings per share from continuing operations of 64 cents per share, exceeding the Zacks Consensus Estimate of 61 cents. Revenue for the quarter was $1.5 billion, a decline of 6% compared with the prior year, while on a constant currency basis revenue declined 9%. For the full year, revenue was $5.6 billion, a decline of 11% when compared with the prior year. Excluding the effect of currency during the year, revenue declined … [visit site to read more]

T-Mobile USA For Sale? « Zacks Investment Research »

Posted: 05 Feb 2010 09:06 AM PST

German telecom giant Deutsche Telekom (DT) is mulling over spinning off its U.S. arm, T-Mobile USA. Alternatively, the German operator may launch an initial public offering (IPO) for the US wireless unit, according to a Wall Street Journal report. Deutsche Telekom has negotiated with banks including Deutsche Bank (DB) to manage the IPO. A decision is expected in the next few months. However, company officials declined to comment on the issue.
With roughly 33.4 million customers, T-mobile … [visit site to read more]

Beacon Posts Below Expectations « Zacks Investment Research »

Posted: 05 Feb 2010 08:53 AM PST

Beacon Roofing Supply, Inc. (BECN) reported results for the first quarter of fiscal 2010. The company reported earnings of 17 cents per share, which was below the Zacks Consensus Estimate of 19 cents and down 58.5% from earnings of 41 cents in the first quarter of fiscal 2009. 

Quarterly sales declined 20.6% to $367.7 million from $463.3 million last year. Sales were down in double digits in all the three major product lines. Residential roofing sales dropped 26.2% year over year as … [visit site to read more]

Costco Sales Climb In January « Zacks Investment Research »

Posted: 05 Feb 2010 08:53 AM PST

Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, recently reported better-than-expected sales for the four-week period ended Jan 31, 2010.
Costco's comparable-store sales for January rose 8%, reflecting a comparable sales growth of 4% at its U.S. locations and 25% at its international divisions. Year-to-date, total comparable-store sales grew 6%, with U.S. sales up 3% and international sales up 18%. The results were favorably impacted by rising gasoline … [visit site to read more]

Time Warner Cable To Ramp WiMAX « Zacks Investment Research »

Posted: 05 Feb 2010 08:38 AM PST

Time Warner Cable Inc. (TWC) has decided to speed up its investment in the next-generation (4G) WiMAX venture in 2010. From December 2009, the company has started offering WIMAX services in Dallas, and parts of North Carolina and Hawaii.

Under the brand name of "Road Runner Mobile,” this super-fast mobile broadband network supports Internet speed of 6 Mbps with a monthly fee between $40 and $80 for customers with at least one other Time Warner Cable service. This service provides its … [visit site to read more]

Shell And Cosan Strike A Sweet Deal « Tony D’Altorio »

Posted: 05 Feb 2010 08:02 AM PST

With its newly announced partnership with Cosan ADR (CZZ), the world's third largest sugar producer, Royal Dutch Shell (NYSE: RDS.A) has taken a bigger step into biofuels than any oil major has ever attempted.
The $12 billion joint venture into ethanol includes about 75% of Cosan's assets, including its sugarcane processing mills, co-generation power plants, ethanol trading company and 2 billion liters of annual ethanol production capacity, which just happens to be the second largest … [visit site to read more]

US Dollar Hammers The Euro « Daily Reckoning »

Posted: 05 Feb 2010 08:00 AM PST

The big stock sell off that I've warned about since last year, looks like it has finally arrived… Bringing with it my biggest fears that the link between all the risk assets, had not been broken completely, and this link has turned into a bloodletting on currencies and commodities.
OK… So I got that out of the way, front and center this morning! You know… Ever since I began writing about a big stock sell off, I told you that, should the link remain in place, and the currencies and … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: AET, TSN, ARG « NYFP »

Posted: 05 Feb 2010 08:00 AM PST

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

One Indicator That’s Unquestionably Bullish « Money Morning »

Posted: 05 Feb 2010 07:55 AM PST

Many economic indicators are sending mixed signals, but one stalwart is coming through crystal clear.

And it suggests that U.S. stocks are poised for a strong showing in 2010.

The indicator I’m referring to is the oft-overlooked “Super Bowl Indicator,” which as has correctly predicted the direction of the Dow Jones Industrial Average in 34 of the past 43 years. That’s an enviable 79% success rate. And between 1967 and 1997, the indicator was correct 28 out of 31 times - a stunning 90% … [visit site to read more]

Willis Reports Almost In Line « Zacks Investment Research »

Posted: 05 Feb 2010 07:50 AM PST

Willis Group Holdings Limited (WSH) reported fourth quarter earnings of 47 cents per share. Results were just a cent short of the Zacks Consensus Estimate of 48 cents. Most of the items were in line with our expectations.
 
However, results were up compared with the prior-year period's earnings of 37 cents (or 36 cents on an adjusted basis), primarily reflecting the growth in organic business, the merger synergies from the Hilb Rogal & Hobbs Company acquisition and the benefits … [visit site to read more]

Video: Tyson Foods Returns To Profit During Its Fiscal 1Q « NYFP »

Posted: 05 Feb 2010 07:46 AM PST

Tyson Foods announced Friday tha it returned to a profit in its fiscal first quarter on improvements in its meat units. … [visit site to read more]

EFN Vs. EMFN: Emerging Markets Financial ETFs Head-To-Head « Michael Johnston »

Posted: 05 Feb 2010 07:41 AM PST

Emerging markets ETFs represent the crossroads of two of the hottest investment trends of recent years. As the U.S., Japan, and developed European economies struggled to pull out of recessions and avoid a double dip, the world's emerging economies raced ahead, led by the BRIC bloc of nations. According to the International Monetary Fund, the economies of China and India are expected to increase by 10.0% and 7.7% in 2010, compared to 2.7% for the U.S. and 2.1% for developed economies in … [visit site to read more]

Video: Asian Markets Slide To Close Out Week « NYFP »

Posted: 05 Feb 2010 07:35 AM PST

The major Asian/Pacific markets were well in the red this session following huge drops in domestic banks. … [visit site to read more]

Fidelity Beats Marginally, Reaffirms « Zacks Investment Research »

Posted: 05 Feb 2010 07:33 AM PST

Fidelity National Information Services Inc. (FIS), an electronic payment processor, announced fourth-quarter 2009 earnings that marginally beat the Zacks Consensus Estimate by a penny. However, earnings on a non-GAAP basis came in at 44 cents per share, down 6.4% from 47 cents per share in the year-ago period.
 
Current-quarter results include three months of operations from Metavante Technologies, which Fidelity acquired on October 1, 2009. For comparative purposes, the results assume … [visit site to read more]

Accuray Disappoints « Zacks Investment Research »

Posted: 05 Feb 2010 07:18 AM PST

Accuray Incorporated (ARAY) reported disappointing results for the second quarter of fiscal 2010. Loss per share was 2 cents, higher than the Zacks Consensus Estimate of a loss per share of 1 cent. However, Accuray reported earnings per share of 2 cents in the year-ago quarter.
 
Sales
 
Total revenues in the quarter declined roughly 0.5% year over year to $57.3 million. Products revenues declined approximately 13.6% year over year to $35.7 million. Accuray bagged 18 orders for its … [visit site to read more]

Stock Buy: AmerisourceBergen Corporation « Zacks Investment Research »

Posted: 04 Feb 2010 09:00 PM PST

AmerisourceBergen Corporation (ABC) recently declared a dividend of 8 cents per share. The company pays an industry-leading dividend yield of 1.13%. In late January, the company reported record earnings of 52 cents for the fiscal first quarter, topping the Zacks Consensus Estimate by 13%. Revenue hit a record $19.3 billion, a year-over-year spike of 11.5%.
Company Description
AmerisourceBergen Corporation, a pharmaceutical services companies serving the United States, Canada and selected … [visit site to read more]
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