Feb 12, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

AXIS Capital Tops Zacks Consensus « Zacks Investment Research »

Posted: 12 Feb 2010 09:08 AM PST

AXIS Capital Holdings Ltd. (AXS) reported fourth-quarter earnings of $1.83 per share, well ahead of the Zacks Consensus Estimate of $1.31. This was primarily due to higher-than-expected revenue driven by investment income, increased premiums and low catastrophes. The company earned $1.09 per share a year ago.
 
However, adjusting for net realized investment losses and for its associated tax impact, the company reported a net income of $282 million or $1.87 per share, up from $131 … [visit site to read more]

Retail Sales Advance « Zacks Investment Research »

Posted: 12 Feb 2010 08:57 AM PST

In January, retail sales (seasonally adjusted) increased by 0.5% over the December level, and were 4.7% higher than a year ago. That was significantly better than the 0.3% increase that was expected by the consensus of economists.
It was also a very nice pick up over the 0.1% decline in December relative to November. Previously the November number had been estimated at a 0.3% decline. The year-over-year growth rate was, however, lower than the 5.5% year-over-year growth rate in December.
As the … [visit site to read more]

SunTrust Initiated As Neutral « Zacks Investment Research »

Posted: 12 Feb 2010 08:52 AM PST

We are initiating coverage on SunTrust Banks Inc. (STI) with a Neutral recommendation.
 
SunTrust's fourth quarter operating loss of 64 cents per share was lower than the Zacks Consensus Estimate of a loss of 75 cents. Last year, the company reported a loss of $1.07 per share. Net loss was $316.4 million versus $374.9 million in the year-ago quarter.
 
The better-than-expected results were aided mainly by an improvement in revenue, which was supported by an expansion in net … [visit site to read more]

Boston Scientific Restructures « Zacks Investment Research »

Posted: 12 Feb 2010 08:35 AM PST

Boston Scientific Corporation (BSX) has recently announced several management changes and restructuring initiatives with an objective to strengthening the company and positioning it for long-term success in terms of accelerating profitable growth and increasing shareholder value.
 
Few of the major changes include: the Cardiovascular Group and Cardiac Rhythm Management Group will be combined into one, stronger and more competitive unit; the company’s international headquarters will be … [visit site to read more]

What’s Wrong With GLD The Equity Hedge? « Michael Johnston »

Posted: 12 Feb 2010 08:33 AM PST

Gold has historically been used in a variety of ways by different investors, but the precious metal is perhaps most commonly embraced as a safe haven investment that smooths out overall portfolio volatility in rocky economic environments. When signs of economic weakness appear, investors tend to sell risky assets such stocks in favor of low-risk safe havens such as Treasuries and physical currency. The relative performance of these asset classes during the most recent recession highlights the … [visit site to read more]

Patterson Beats Loss Estimates « Zacks Investment Research »

Posted: 12 Feb 2010 08:19 AM PST

Onshore contract driller Patterson-UTI Inc. (PTEN) reported a narrower-than-expected fourth-quarter loss of 6 cents per share (excluding items), reflecting improvement in rig count on the back of rebounding commodity prices. The Zacks Consensus Estimate was pegged at a loss of 8 cents per share.
 
Estimate Revisions Trend
 
Patterson's outperformance didn't come as a major surprise as estimates for the quarter have been trending up over the last month. During this period, the … [visit site to read more]

Australian Dollar: Continuation Of The Rebound « Trading Central »

Posted: 12 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: 12 Feb 2010 08:18 AM PST

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

Where The Jobs Are! « OptionsXpress »

Posted: 12 Feb 2010 08:18 AM PST

Fundamentals
It certainly appears that the" Land Down Under" has its "Help Wanted" sign out, as the employment picture in Australia continues to brighten. Payrolls in January rose by 52,700, which sent the unemployment rate down to 5.3% — which is the lowest level in nearly a year. The rise in employment comes despite efforts by the Reserve Bank of Australia (RBA) to raise its benchmark interest rate, currently at 3.75%, to help slow a surging economy and keep inflation in check. … [visit site to read more]

The Ultimate System For A Volatile Market « DailyWealth »

Posted: 12 Feb 2010 08:17 AM PST

By Dr. Steve Sjuggerud

My friend Mebane Faber stumbled onto the ultimate system for a volatile market.

It only takes you two hours a year (10 minutes a month) to implement.

It’s only had one losing year since it started in 1973 (a tiny 0.59% loss in 2008).

And it’s outperformed the stock market… with substantially less volatility than stocks.

Meb has just updated his numbers for 2009. The results over the last decade are downright extraordinary…

If you had invested $10,000 in Meb’s … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: MOT, IR « NYFP »

Posted: 12 Feb 2010 08:15 AM PST

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

Alcon Beats On Strong Revenues « Zacks Investment Research »

Posted: 12 Feb 2010 08:04 AM PST

Alcon Inc. (ACL) reported fourth quarter earnings of $1.61 per share, easily beating the Zacks Consensus Estimate of $1.50 and 14.2% above the year-ago earnings of $1.41. Full year earnings came in at $6.81, 10 cents above the Zacks Consensus Estimate and 13.5% above the year ago results.

Net earnings increased mainly due to stronger-than-expected revenues and an improved market environment. Quarterly revenues increased 8.5% (including the impact of foreign exchange) to $1.7 billion. Full … [visit site to read more]

BJ’s Restaurants Revenue Climbs « Zacks Investment Research »

Posted: 12 Feb 2010 07:58 AM PST

BJ's Restaurants Inc. (BJRI) sustained its growth momentum in the top-line in fourth-quarter 2009. Given the economic conditions and lower consumer discretionary spending, the company hinted at sluggish recovery in the restaurant industry in fiscal 2010.
Revenue for the quarter jumped 13.5% to $112.6 million. Despite a double-digit increase in the top-line, the rate of rise in the bottom-line decelerated from third-quarter 2009, (when earnings had climbed 50%) hurt by higher expenses. Cost … [visit site to read more]

How To Decode The New Option Symbols That Take Effect Today « Money Morning »

Posted: 12 Feb 2010 07:50 AM PST

If you’re a veteran options trader, you’ll find that a major change to the rules of the game takes effect today (Friday). Today was the deadline for quotation systems, order-entry platforms and other electronic programs around the globe to begin referring to option contracts by entirely new identifying symbols.

The old option symbols - simple four- or five-character letter codes that have been in use since the Chicago Board Options Exchange (CBOE) first started trading standardized listed … [visit site to read more]

Hercules Tech Can’t Muster Ests « Zacks Investment Research »

Posted: 12 Feb 2010 07:44 AM PST

Hercules Technology Growth Capital Inc.'s (HTGC) fourth-quarter change in net assets of 23 cents per share came in short of the Zacks Consensus Estimate of 26 cents. However, this compares favorably with the negative change in net assets of 34 cents in the year-ago quarter.
 
The improvement in results over the prior-year quarter was due primarily to lower operating expenses and an increase in unrealized appreciation on investments. However, lower investment income and higher net … [visit site to read more]

Forex Trading: EURUSD Pausing At 200 Bar MA In Choppy Trade As London Gets Set To Exit For The Week. « Greg Michalowski »

Posted: 12 Feb 2010 07:33 AM PST

The EURUSD is also trading in a choppy fashion as the London close approaches.  The 200 bar MA on the 5 minute chart is the 1.3632 level and the price has moved above but finding profit taking sellers.  The Friday close always has the potential to lead to a move through but using the level as a key pivot is the best scenario.  The market is at a crossroad. 
Below the support will be eyed at 1.3613 (midpoint of the days range) and the 1.3594 level where the 100 bar … [visit site to read more]

Video: Nikkei Rises As Week Comes To An End « NYFP »

Posted: 12 Feb 2010 07:31 AM PST

Japan’s Nikkei 225 index posted quite a huge gain this session following a surprising rise in commodity-related stocks. … [visit site to read more]

Cincinnati Bell Misses By A Penny « Zacks Investment Research »

Posted: 12 Feb 2010 07:29 AM PST

Regional US telecom carrier Cincinnati Bell (CBB) announced fourth quarter results with adjusted earnings per share (EPS) of 10 cents, falling a penny shy of the Zacks Consensus Estimate of 11 cents. The result was flat year-over-year. For full year 2009, adjusted EPS was 42 cents, missing the Zacks Consensus Estimate of 44 cents.
 
Adjusted EPS excludes special items such as restructuring charges associated with workforce reduction and loss on extinguishment of debt. Reported net … [visit site to read more]

HCP Reports Modest Quarter « Zacks Investment Research »

Posted: 12 Feb 2010 07:22 AM PST

HCP Inc. (HCP), a healthcare real estate investment trust (REIT), reported fourth quarter 2009 FFO (funds from operations) of $106.0 million or 36 cents per share, compared to $121.0 million or 48 cents per share in the year-earlier quarter. Fund 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. 

The year-over-year decrease in FFO was primarily due to impairment … [visit site to read more]

SCANA Falls Behind Consensus « Zacks Investment Research »

Posted: 12 Feb 2010 07:16 AM PST

SCANA Corporation (SCG) reported financial results for its fourth quarter of 2009. Earnings per share came in at 62 cents, compared to the Zacks Consensus Estimate of 63 cents and year-earlier earnings of 73 cents.
 
Estimate Revisions Trend
 
Amongst the 8 analysts covering the stock, no upward or downward movements in estimate revisions for the last 7 and 30 days have been noticed. Currently, the Zacks Consensus Estimate for full fiscal 2010 earnings is $2.96 per share, which … [visit site to read more]

Stock Buy: Phillips-Van Heusen « Zacks Investment Research »

Posted: 11 Feb 2010 09:00 PM PST

Phillips-Van Heusen Corporation (PVH) continues to see bullish earnings forecasts after the retailer hiked its full-year guidance.
Company Description
Phillips-Van Heusen Corp. is a global designer and marketer of branded dress shirts, sportswear footwear and other similar products, offering several well-known brands. Calvin Klein , Izod, Bass and DKNY are just a few of the company’s brands.
The company grants licensing rights to its brands and holds key licenses to brands in the dress … [visit site to read more]

Tragedy In Greece « Daily Reckoning »

Posted: 11 Feb 2010 03:00 PM PST

Similar to events at the early stages of the sub-prime crisis, the financial predicament of Greece is likely to blow over soon, especially once the unannounced details of the accord reached early today are acted upon. What was once a cradle of civilization now accounts for only 2.6% of European Union output, and the rest of the continent simply can't let its financial system implode just yet.
Orchestrating a rescue is tedious. Although the EU has said each member would contribute according to … [visit site to read more]
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