Daily Markets - Financial News And Opinions |
- Morning News Notes: 2/19/2010
- Throw This Squirrel A Nut
- Intuit Tops, Raises Outlook
- J.C. Penney Beats, Outlook Positive
- Wright Beats Zacks Estimate
- Forex Trading: USDJPY Consolidates After The Sharp Move Higher Yesterday
- ANADIGICS Beats Estimates
- Stock Market News Briefs: CBS Corporation, Chesapeake Energy Corporation, KeyCorp, Liz Claiborne, Inc., Schlumberger N.V., Smith International, Inc., Toyota Motor Corporation, Adobe Systems Incorporated, Dell Inc.
- Swiss Franc: Continuation Of The Rebound
- Japanese Yen: Rebound
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Stalemate!
- Loss Widens At Medicines Co.
- BIS Economists On “The Future Of Public Debt”
- Solid Quarter For Goodyear
- Schlumberger To Buy Smith Int’l?
- Forex Trading: GBPUSD Trying To Bottom But Not Getting Very Far
- Analog Devices Beats Again
- Discount Rate Increase NOT Tightening
- Microsoft-Yahoo! Deal Finalized
- Forex Trading: EURUSD Back Above 1.3483 Level. 1.3531/38 Next Upside Resistance
- ETFs That Could Potentially Be Affected By The Fed’s Discount Rate Hike
- Dell Revenue Up, EPS Exceeds
- Why Gold Is Still Bullish Despite Pundits Talking It Down
- Mutual Funds: Top 4 Ranked Federated Funds
- Stock Buy: Textainer
- Bull Of The Day: Chipotle Mexican Grill (CMG)
- Stock Buy: Fairchild Semiconductor
- Stock Buy: Celanese Corp.
- Stock Buy: Brown Shoes Co.
- Bear Of The Day: Nucor Corporation (NUE)
| Posted: 19 Feb 2010 07:10 AM PST The “Morning News Notes” as prepared by TL… Fed action and comments, bank profits, Greece, Volcker rule, and health care. “Morning News Notes”: February 19, … [visit site to read more]
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| Posted: 19 Feb 2010 07:04 AM PST Every now and then, even this squirrel will catch a nut. My “call” on the Dollar Index on January 19 has been prescient, and it appears that the Dollar can still move higher as key price levels (i.e., resistance) continue to fall. See figure 1, a weekly chart of the Dollar Index. Figure 1. Dollar Index/ weekly The bullish set up of a weekly close over three key pivot points (i.e., the pivot points with the black and yellow dots) is identified on the chart. The down draft seen in … [visit site to read more]
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| Posted: 19 Feb 2010 07:00 AM PST Intuit Inc. (NASDAQ:INTU) reported revenue of $837 million in the second quarter of fiscal 2010, up 8% year over year and was more than the top-end of the guidance provided by management by $20 million. Intuit is a leading provider of business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals and financial institutions.
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| J.C. Penney Beats, Outlook Positive Posted: 19 Feb 2010 06:51 AM PST J.C. Penney Company Inc. (NYSE:JCP), a leading retailer of apparel and footwear, accessories, fashion jewelry, beauty products and home furnishings, reported fiscal 2009 fourth-quarter results before the opening bell on Friday. Quarterly earnings came in at 84 cents per share, which declined 10.6% from 94 cents recorded in the year-ago quarter. However, the result surpassed the Zacks Consensus Estimate of 82 cents derived from 13 covering analysts as well as the recent management guidance of 77 … [visit site to read more]
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| Posted: 19 Feb 2010 06:45 AM PST Wright Medical Group, Inc. (NASDAQ:WMGI) reported fourth quarter and full fiscal 2009 results. For the fourth quarter, earnings per share were 27 cents, beating the Zacks Consensus Estimate of 19 cents. However, earnings were lower than the year-ago figure of 31 cents. For fiscal 2009, earnings per share were 85 cents, compared to the Zacks Consensus Estimate of 60 cents and the year-ago figure of 92 cents.
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| Forex Trading: USDJPY Consolidates After The Sharp Move Higher Yesterday Posted: 19 Feb 2010 06:33 AM PST The USDJPY has been well behaved in trading today. The high for the day comes in at 92.08. The low has come in at 91.61. The 91.67 level has been more of a floor for the pair with a number of bars on the 5 minute chart at that level. Let's call support at 91.61-67. On the topside, the 100 and 200 bar MA on the 5 minute chart is at 91.83. This will be the watched today. As long as the price remains below the 91.83 the bias remains to the downside with support at … [visit site to read more]
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| Posted: 19 Feb 2010 06:30 AM PST ANADIGICS, Inc. (NASDAQ:ANAD) reported revenues of $41.8 million in the fourth quarter of 2009, down 7.6% from a year ago but up 13.9% sequentially and surpassed management's revenue growth guidance of 5% – 8%.
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| Posted: 19 Feb 2010 06:23 AM PST Reports say Schlumberger (NYSE:SLB) is in talks to buy Smith International (NYSE:SII) for an estimated $9 billion CBS (NYSE:CBS) posted inline four quarter earnings of 25 cents ex-items on revenues of $3.50 billion, up from Zacks estimates of $3.44 billion Dell (NASDAQ:DELL) reported adjusted fourth quarter results of 28 cents, one cent ahead of Zacks estimates, on revenues of $14.9 billion, beating Zacks estimates of $13.8 billion on improving notebook PC shipments FBR … [visit site to read more]
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| Swiss Franc: Continuation Of The Rebound Posted: 19 Feb 2010 06:17 AM PST |
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| British Pound: The Upside Prevails Posted: 19 Feb 2010 06:17 AM PST |
| Posted: 19 Feb 2010 06:17 AM PST |
| Posted: 19 Feb 2010 06:17 AM PST Fundamentals
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| Posted: 19 Feb 2010 06:15 AM PST The Medicines Company (NASDAQ:MDCO) reported a fourth-quarter loss of $1.40 per
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| BIS Economists On “The Future Of Public Debt” Posted: 19 Feb 2010 06:01 AM PST Public debt and spending has become a particularly hot topic recently. The key driver is a ballooning of fiscal deficits on the back of the crisis. Governments around the world have transferred troubled assets from the private sector to the public sector in order to prevent a major meltdown, they have also taken large moves to stimulate demand. But this has worsened existing vulnerabilities in terms of fiscal sustainability. Hot spots have flared up like Greece and Dubai. The worse may … [visit site to read more]
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| Posted: 19 Feb 2010 06:00 AM PST Goodyear Tire (NYSE:GT) posted a net income of $107 million or 14 cents per share (excluding special items) for the fourth quarter of 2009 in stark contrast to the loss of $287 million or $1.18 (excluding special items) in the same quarter a year ago and the Zacks Consensus Estimate of a loss of 6 cents. The company believes lower raw material costs, improved sales volumes and cost-reduction initiatives contributed to earnings growth.
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| Schlumberger To Buy Smith Int’l? Posted: 19 Feb 2010 05:58 AM PST Oilfield services leader Schlumberger Ltd. (NYSE:SLB) is in advanced level of discussion to buy Smith International Inc. (NYSE:SII), as per this morning’s Wall Street Journal report. The deal still has chances of not materializing, according to the report. Though the final numbers have yet to come out, the deal price is hovering around $9 billion, by taking a typical deal premium of 20% on the current market capitalization of Smith. Following the finalization of the deal, if done, the joint … [visit site to read more]
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| Forex Trading: GBPUSD Trying To Bottom But Not Getting Very Far Posted: 19 Feb 2010 05:48 AM PST The GBPUSD fell sharply overnight, but has slowed the declines pace. This has allowed the 100 bar MA on the 5 minute chart to catch up with the market and the price is currently trading at the level. The pair did move above the 100 bar MA off the 8:30 data, but remained below the 200 bar MA at the 1.5425 level currently. A move above this level is needed to solicit additional dip buying interest. A move above would next target the 1.5459 level.
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| Posted: 19 Feb 2010 05:45 AM PST Analog Devices' (NYSE:ADI) fiscal first quarter results beat the Zacks Consensus estimate by 7 cents. Shares were up over 4% in response to the news.
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| Discount Rate Increase NOT Tightening Posted: 19 Feb 2010 05:36 AM PST The Fed announced a surprise quarter point increase in its discount rate, taking the rate it charges banks for short-term loans to 0.75%. This is the first rate increase of any type by the Fed in almost four years. But the discount rate should not to be confused with the more important Fed Funds rate, which is the primary building block of all the interest rates in the broader economy. The Fed Funds rate currently remains at an extremely low level (at the 0 to 0.25% range), and the Fed has … [visit site to read more]
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| Microsoft-Yahoo! Deal Finalized Posted: 19 Feb 2010 05:30 AM PST On Thursday, the long-discussed Microsoft (NASDAQ:MSFT)-Yahoo (NASDAQ:YHOO) deal was finally cleared by both European and U.S. regulators.
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| Forex Trading: EURUSD Back Above 1.3483 Level. 1.3531/38 Next Upside Resistance Posted: 19 Feb 2010 05:10 AM PST The EURUSD moved below the target at the 1.3483 level which was the 61.8% of the move up from the 2009 low to the 2009 high. The price is moving toward the 1.3531/38 level which was the lows from February 12 and yesterday prior to the move lower. This will be the next resistance level for the pair this morning. Above the level the pair has room to head up toward the 1.3575-85 where the 38.2% of the move down and the floor lows going back to February … [visit site to read more]
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| ETFs That Could Potentially Be Affected By The Fed’s Discount Rate Hike Posted: 19 Feb 2010 05:01 AM PST The Federal Reserve hiked the interest rate it charges banks for emergency loans after the market closed Thursday. What does it mean, and which exchange traded funds (ETFs) could be affected by the move? The Federal Reserve changed the interest rate it charges banks for emergency loans, making the first interest rate move since December 2008. The hike in the discount rate - from 0.50% to 0.75% - will not affect consumer or company loans, reports Reuters. The Fed insists this move isn’t akin … [visit site to read more]
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| Posted: 19 Feb 2010 04:42 AM PST Dell Inc. (NASDAQ:DELL) reported fourth quarter 2010 EPS of 28 cents, exceeding the Zacks Consensus Estimate of 27 cents. Revenue Revenue for the quarter was $14.9 billion, up 11.0% from $13.4 billion reported in the year-ago quarter and up 16.0% from $12.9 billion reported in the previous quarter. The company's fourth quarter revenue growth can be attributed to an improvement in revenue in all business segments, especially due to growth in the commercial business, fueled by growth in Enterprise … [visit site to read more]
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| Why Gold Is Still Bullish Despite Pundits Talking It Down Posted: 19 Feb 2010 03:50 AM PST A few weeks ago on February 4th, I penned an article for Kitco forecasting the gold correction trends and the likely outcomes. My opinion was that gold was pulling back to work off excessive optimism from the early December 09 highs. This type of pullback was orderly and there was a gap at 102.50 on the SPDR Gold Shares (GLD) ETF that I believed would fill. The following day, that gap filled and gold hit a bottom at 1042 and has rallied much higher since. I opined that the rally in the US … [visit site to read more]
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| Mutual Funds: Top 4 Ranked Federated Funds Posted: 18 Feb 2010 11:40 PM PST Since its inception in 1955, Federated Investors has used a disciplined approach to deliver superior value to investors in the U.S. and abroad. With more than $389.3 billion in assets under management, it is now one of the largest investment managers in the U.S. Federated offers a diversified product line, including 145 domestic and international equity, fixed-income and money market funds. These products are distributed through more than 5,200 financial intermediaries and institutions.
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| Posted: 18 Feb 2010 09:00 PM PST Textainer (NYSE:TGH) is looking for industry conditions to improve throughout 2010.
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| Bull Of The Day: Chipotle Mexican Grill (CMG) Posted: 18 Feb 2010 09:00 PM PST Chipotle Mexican Grill (NYSE:CMG) has remained largely unruffled by the recent economic slowdown. The company is well-positioned to expand rapidly while generating improved earnings, margins and returns on invested capital.
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| Stock Buy: Fairchild Semiconductor Posted: 18 Feb 2010 09:00 PM PST Fairchild Semiconductor (NYSE:FCS) is a Zacks #1 Rank (’strong buy’) company that’s less than a month removed from a very solid fourth-quarter report, which included another positive earnings surprise along with year-over-year improvements in EPS and revenue.
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| Posted: 18 Feb 2010 09:00 PM PST Celanese Corp (NYSE:CE) continued its excellent earnings streak as it returned to profitability. Estimates are up and projecting double-digit growth.
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| Posted: 18 Feb 2010 09:00 PM PST Brown Shoes Co. (NYSE:BWS) is pressuring its 52-week high just above $13 as estimates rise ahead of the company’s early March, Q4 results.
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| Bear Of The Day: Nucor Corporation (NUE) Posted: 18 Feb 2010 09:00 PM PST Nucor Corporation (NYSE:NUE), the nation’s largest recycler of steel scrap, is suffering from continued low operating rates and high-cost pig iron inventories. Moreover, a slowdown in demand from the automobile sector and increased production in China are matters of concern.
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