Feb 17, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Rydex Market Timers: Take A Guess Before You Read!

Posted: 17 Feb 2010 05:53 PM PST

Figure 1 is a daily chart of the S&P500. The indicator in the lower panel measures the ratio of the amount of assets in the Rydex bullish and leveraged funds relative to those funds that are bearish and leveraged.

Figure 1. S&P500/ daily/ Rydex Bullish and Leveraged v. Bearish and Leveraged

The current value of the indicator stands at 1.01 suggesting that the Rydex market timers are warming up to higher prices. With regards to our recent strategy piece, this is now a … [visit site to read more]

Billionaire Investor George Soros More Than Doubles His Bet On The Price Of Gold

Posted: 17 Feb 2010 05:50 PM PST

Billionaire investor George Soros’ hedge fund more than doubled its bet on the price of gold during the fourth quarter, a portion of the firm’s total U.S.-listed equity holdings of $8.8 billion at the end of 2009.

The New York-based firm also disclosed in a filing on Tuesday with the U.S. Securities and Exchange Commission that it bought almost 95 million shares of Citigroup (NYSE:C) during the quarter, worth $313 million by the end of the year. Soros reported no holdings of the troubled … [visit site to read more]

The Bear Market Roller Coaster In Gold

Posted: 17 Feb 2010 05:40 PM PST

Bear markets are one of the hardest times to keep your head on your shoulders - I’m not necessarily talking about you, reader, but using the word as a general “cutout market participant” descriptive.  Either that or I am referring to myself in the third person, which (I’ll have to check the definition later to verify) might just make me crazy.

However, all insanity aside, you are here to read about markets and I am here to write about them.

So, let’s recap what happened while I was away … [visit site to read more]

Stock Picks For Thursday: Synopsys, Goodyear Tire & Rubber

Posted: 17 Feb 2010 04:05 PM PST

( click to enlarge )

Synopsys (NASDAQ:SNPS) - SNPS reached again the $22.17 mark. This level is proving to be a strong resistance zone. A strong trend would not be in place unless the stock closes above this level. Long-term investors who have entered at lower levels may take partial profits and have a stop-loss at 21.71 for the rest.

( click to enlarge )

Goodyear Tire & Rubber (NYSE:GT) - GT closed higher Wednesday. The near-term outlook is bullish and a close above $14.09 would … [visit site to read more]

Forex Trading: Where’s The Reversal In USD/CHF?

Posted: 17 Feb 2010 04:01 PM PST

4H: There was a reversal signal last session, but the market was supported near 1.0650, and was not able to break the previous powerline at 1.060 area. So technically, the uptrend is intact. (Refer to Daily Technical Update 2.16.2010 USD/CHF).
However, the slow stochastic-50 is showing that the bullish mode is in for a major correction. so far it has only been a flat correction. The key is to monitor the current rally and the associated momentum. If the stochastic crosses under before … [visit site to read more]

EUR/USD - Bearish Resumption After Bullish Correction

Posted: 17 Feb 2010 03:02 PM PST

As of Wednesday (2/17/2010) price action on EUR/USD, a daily chart of which is shown, has begun to re-assert its bearish stance within the context of the pair’s overall downtrend. This occurs after price made a swift and strong bullish correction on Tuesday, reaching up to approach significant resistance in the key 1.3800 support/resistance price region. After the bullish correction was rejected from that price area on Wednesday, the pair is potentially poised to resume the downtrend that … [visit site to read more]

Quarterly Earnings Looking Good… Time To Buy?

Posted: 17 Feb 2010 03:00 PM PST

We are in the midst of one of the best quarterly earnings seasons on record.
More than four out of five companies are topping consensus estimates on profits. The S&P 500, that big index of America's largest companies, is set to break a run of nine consecutive quarterly declines in profits.
This doesn't mean stocks are a buy. The big rally stocks enjoyed in 2009 baked in much of that recovery. However, unlike prior quarters, it's not just cost cutting that's driving those profits. … [visit site to read more]

Bernanke Admits Truth About Money, It’s Just Scraps Of Paper

Posted: 17 Feb 2010 03:00 PM PST

The Onion has just released the defining story of the 21st century… money is in fact nothing more than worthless scraps of paper. The realization came about at a recent Bernanke testimony before Congress.
According to the Onion:
"What began as a routine report before the Senate Finance Committee Tuesday ended with Bernanke passionately disavowing the entire concept of currency, and negating in an instant the very foundation of the world's largest economy.
 
"'Though raising … [visit site to read more]

Forex Trading: USDJPY Makes The Break Higher Today

Posted: 17 Feb 2010 02:57 PM PST

The USDJPY finally decided the next directional bias and moved sharply higher today. The pair has been in narrow trading ranges above and below the 100 day MA at the 90.08 level over the last few trading days. Today, the price opened above the level, corrected down toward it (low of 90.12) and used it as a springboard to sharply higher levels. 
The price moved to a high price of 91.37 and now stands in the middle of the "Goal Posts" as we define as the 100 and 200 day moving averages … [visit site to read more]

Daily ETF Roundup: MOO Jumps, DBA Slides

Posted: 17 Feb 2010 02:46 PM PST

Equity markets continued a mini-rally on Wednesday as strong earnings reports and economic data boosted confidence. Concerns remain over Europe's debt balance, however, as the dollar gained ground on the euro. Elsewhere, minutes from last month's Fed meeting showed confidence from central bank officials while the U.S. indicated it intends to press China on its undervalued currency.
The ETFdb 60 Index, a benchmark measuring the performance of asset classes available through ETFs, added 1.97 … [visit site to read more]

Forex Trading: USDCAD Bounces Off Key Daily Support And Looks To Correct Higher.

Posted: 17 Feb 2010 02:32 PM PST

The 1.0405-15 level is a key level for the USDCAD. Since October the price on the daily chart has used this level as a floor or ceiling on a number of occasions. The last two days tested the levels once again and added to the mystique of this area for the pair. 
Of course it is not so much a mystique but a level that traders can lean against and buy.  As a result we did see support against the level and the price is back up at the 1.0463 level currently.  Longer term, the price … [visit site to read more]

McAfee-Brocade Strategic Alliance

Posted: 17 Feb 2010 02:25 PM PST

Internet and Information Technology (IT) security major McAfee Inc. (NYSE:MFE) recently entered into a strategic alliance with networking solutions major Brocade Communication System Inc. (NASDAQ:BRCD). As per the terms of the agreement, Brocade and McAfee will work together to incorporate McAfee's extensive security measures into Brocade's networking products.
The technology majors will be collaborating on a set of combined solutions developed to cater to the network security needs of large and … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: DE, C, TM, WAG

Posted: 17 Feb 2010 02:20 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]

Lower Costs Help Valmont

Posted: 17 Feb 2010 02:07 PM PST

Valmont Industries Inc. (NYSE:VMI), a maker of lightning poles and support structures, posted a higher quarterly profit of $1.14 per share from last year's $1.09. Earnings were also ahead of the Zacks Consensus Estimate of $1.10.
Net earnings increased despite a 20% decline in sales to $398.6 million as demand for the company’s products fell across its business segments. Valmont's earnings were helped by lower costs that boosted margins. Cost of sales dropped by 25% to $276.0 million in the … [visit site to read more]

Forex Trading: AUDUSD Between The Daily Goal Posts And Looking To Correct

Posted: 17 Feb 2010 02:04 PM PST

To put the AUDUSD in perspective after being away for a few days, the price continued its move up toward the 100 day MA.  That level comes in at the 0.9056 level. The high today reached 0.9035. The price has since come off and currently trades at the 0.8991 level.  Should the price rally higher, I would expect to see profit taking sellers against a stop on a move back above the key level.

Looking at the shorter term chart, the price is back below the 100 and 200 bar … [visit site to read more]

Video: Campbell’s Dishes Out Cold Fiscal 1Q Results

Posted: 17 Feb 2010 02:02 PM PST

Campbell’s announced Wednesday that its fiscal 1Q results were well below expectations on lower sales while announcing that it will alter the content of a majority of its products. … [visit site to read more]

How Banks Are “Crowding Out” The U.S. Rebound

Posted: 17 Feb 2010 02:01 PM PST

When U.S. President Barack Obama unveiled the $787 billion “stimulus” bill of extra spending and modest tax cuts last year, it became clear that the U.S. budget deficit was going to eclipse the 10% of gross domestic product (GDP) level for at least one year (and, as we now know, probably three years).

On those grounds, I opposed the “stimulus” - a position that was a lot less popular then than it has since become. However, as I’ll show you below, it now looks as if I was right - and … [visit site to read more]

Monetary Inflation And The 32-Cent Gallon Of Gas

Posted: 17 Feb 2010 02:00 PM PST

I got an email from Junior Mogambo Ranger (JMR) Steve, who writes about "a quickie from the show Pawn Stars", which startled me into Instant Mogambo Alert (IMA) because I thought he said, "a quickie from the show Porn Stars".
Alas, it was not, and it was, as the name implies, a TV show about the things that happen in a pawn shop where people who are desperately in need of a little money bring in stuff as collateral for a loan.
"A guy brings in," Steve says, "an old gas pump from … [visit site to read more]

Video: Crude Prices Steady Ahead Of Inventory Report

Posted: 17 Feb 2010 02:00 PM PST

Following yesterdays rally, crude prices this session were mostly steady as investors await the upcoming inventory data report tomorrow. … [visit site to read more]

AIG-MetLife Deal In Tax Dispute

Posted: 17 Feb 2010 01:51 PM PST

According to the Wall Street Journal, the proposed sale of American International Group's (NYSE:AIG) unit American Life Insurance Co (Alico) to MetLife Inc. (NYSE:MET) faces a tax dispute which may call for a special ruling by the Internal Revenue Service (IRS).
The dispute pertains to whether Alico is exempted from a 2004 ruling by the IRS. The ruling requires all insurers in the U.S. selling annuities and life insurance policies to customers outside the United States, to keep back U.S. taxes on … [visit site to read more]

Why OOK Is Crushing XLE

Posted: 17 Feb 2010 01:44 PM PST

Last year saw more than 100 new ETF launches, ranging from the relatively "plain vanilla" to funds offering more targeted and unique exposure. One of the more interesting product launches came late in the year, when Geary Advisors introduced the first state-specific ETF, the Oklahoma Exchange-Traded Fund (OOK).
OOK is designed to track the performance of the SPADE Oklahoma Index, a modified market capitalization-weighted benchmark that measures the performance of companies whose corporate … [visit site to read more]

Nasdaq Ups Agora-X Stake To 85%

Posted: 17 Feb 2010 01:36 PM PST

In an attempt to expand its over-the-counter (OTC) initiatives in the equity markets, on Tuesday Nasdaq OMX Group Inc. (NASDAQ:NDAQ) announced that the company has increased its equity ownership in Agora-X, LLC to 85% from the former stake of 20%, effective immediately.
Agora-X is an electronic communications network for institutional trading in OTC commodity contracts. It also offers automatic clearing through CME ClearPort, the transaction clearing wing of CME Group Inc. (NASDAQ:CME), on certain OTC … [visit site to read more]

Devon Energy Beats Estimates

Posted: 17 Feb 2010 01:22 PM PST

Devon Energy Corporation (NYSE:DVN) posted better-than-expected results for full-year 2009 due to record production volume and favorable service and supply costs across all major operating segments. The company's adjusted EPS for the year was $4.03, which was above the Zacks Consensus Estimate of $3.68. In the fourth quarter, adjusted EPS of $1.60 for the surpassed the Zacks Consensus Estimate of $1.24.
The company's reported net loss for the year was $2.5 billion ($5.58 per share) and net … [visit site to read more]

Winn-Dixie’s Q2 Tops View

Posted: 17 Feb 2010 01:06 PM PST

Winn-Dixie Stores Inc. (NASDAQ:WINN) reported fiscal 2010 second-quarter results after the closing bell on Tuesday. The company posted a net income of $2.1 million, compared to $16.1 million in the year-ago quarter.
Earnings per share came in at 4 cents, which surged past the Zacks Consensus Estimate of a loss of 16 cents. The better-than-expected result, driven by improved gross margin and lower operating expenses, led to a more than 9% gain in Wednesday trading.
The Jacksonville, FL-based … [visit site to read more]

Budget Deficit Lower Than Expected

Posted: 17 Feb 2010 01:03 PM PST

The Treasury budget numbers for January were finally released today after being held up by the snow.  In January, the Federal government took in $205.24 billion in taxes and other revenues, and spent $247.88 billion, so the red ink for the month came to $42.63 billion. This was better than the $46.0 billion worth of red ink expected by the consensus of economists.
While the level was less than half the $91.41 billion deficit in December, the month-to-month changes in these numbers are not … [visit site to read more]

Molina Stays At Underperform

Posted: 17 Feb 2010 12:50 PM PST

We continue to have an Underperform rating on Molina Healthcare, Inc. (NYSE:MOH) with a price target of $18. 

On Feb 11, 2010 Molina reported disappointing results for the fourth quarter of 2009 as well as fiscal 2009. In the fourth quarter the company suffered a loss of 18 cents per share as against earnings of 55 cents in the year-ago period. The disappointing performance of the company in the quarter was attributable to increased medical care costs, higher utilization and compression of … [visit site to read more]

Positive Outlook For Sonoco

Posted: 17 Feb 2010 12:35 PM PST

Last week, Sonoco Products Company (NYSE:SON) reported fourth quarter earnings of 58 cents per share, beating the Zacks Consensus Estimate of 51 cents and prior year EPS of 49 cents. The earnings growth in the quarter was driven by higher volumes and strong productivity benefits.
 
Quarterly sales improved 7.2% to $1.0 billion from $934.6 million a year ago. The year over year growth in sales was primarily led by increased volumes in the Tube and Cores/Paper, Consumer Packaging and Packaging … [visit site to read more]

The Topsoil Crisis

Posted: 17 Feb 2010 12:25 PM PST

"All life is a process of breaking down," the great F. Scott Fitzgerald once wrote. "But the blows that do the dramatic side of the work…don't show their effect all at once." These other blows you don't feel until it is too late to do anything. Fitzgerald was writing about his own famous crackup in the 1930s, but his comments also apply to the agricultural scene circa 2010.
We return to a theme in last month's letter. The world will need to boost its production of food. The UN … [visit site to read more]

In The Know?

Posted: 17 Feb 2010 12:22 PM PST

Here’s how things stand from Wall Street’s perspective [italics mine]:

“Abby Cohen Sees S&P 500 Fair Value at 1,250 to 1,300″ (Bloomberg BusinessWeek)

The Standard & Poor's 500 Index may rise to between 1,250 and 1,300, said Abby Joseph Cohen, the Goldman Sachs Group Inc. strategist known for calling the bull market in the 1990s.
The S&P 500, which closed at 1,094.87 yesterday, would need to rise as much as 19 percent to reach the high end of Cohen's prediction. The … [visit site to read more]

Video: 02/17 FX Options Report

Posted: 17 Feb 2010 12:22 PM PST

The USD gained broadly vs. the EUR, GBP and JPY, as overall risk appetite improved. … [visit site to read more]

Genzyme’s Profit Falls, But Beats

Posted: 17 Feb 2010 12:20 PM PST

Genzyme Corporation (NASDAQ:GENZ) reported fourth quarter earnings of 31 cents per share, which was well below the year-ago earnings of 42 cents. The Zacks Consensus Estimate was 20 cents. Full-year earnings came in at $2.27, well above the year-ago earnings of $1.95.
Performance by Segment
With the company facing manufacturing problems from mid-2009, we were not surprised to see fourth quarter revenues decline. They fell 7.9% to $1.08 billion. Full-year revenues declined 1.9% to $4.5 … [visit site to read more]

CTIC Reports, Awaits FDA Decision

Posted: 17 Feb 2010 12:05 PM PST

Cell Therapeutics' (CTIC) fourth quarter loss per share came in at 5 cents, lower than the Zacks Consensus Estimate of 3 cents and a loss of 25 cents (prior to adjustment 52 cents) reported in the year-ago period. Although the net loss after adjustments has increased, the company has been able to reduce its loss per share due to huge equity dilution. 

Its number of shares has increased to 570.63 million compared to 80 million in the year-ago period. For the full year of 2009, the … [visit site to read more]

Triumph’s Earnings Contracting

Posted: 17 Feb 2010 12:05 PM PST

Triumph Group, Inc. (NYSE:TGI) commenced an exchange offer of $175 million in aggregate principal amount of its 8% Senior Subordinated Notes due 2017 that are registered under the Securities Act of 1933, for the aggregate same principal amount of its outstanding 8% Senior Subordinated Notes due 2017. The exchange offer will expire on March 16, 2010. 

Triumph has also declared a regular quarterly dividend of $0.04 per share on its outstanding common stock, payable on March 15, 2010 to … [visit site to read more]

Update: Texas Vs. The Unionocracy Of California

Posted: 17 Feb 2010 12:01 PM PST

Update on this CD post:

The chart above displays employment levels in California compared to Texas, monthly from January 2000 to December 2009. The employment level in California fell below 16,000,000 jobs in December for the first time since May 2000, 9 and-a-half years ago. From the peak employment level of more than 17 million in July 2007, California has lost more one million jobs in the last two and-a-half years. In contrast, Texas has lost only about 100,000 jobs from the peak … [visit site to read more]

Corolla To Join Toyota Recall

Posted: 17 Feb 2010 11:51 AM PST

After the popular 2010 Prius hybrid by Toyota Motor (NYSE:TM), it appears to be Corolla’s turn to face a recall, this time due to power-steering problems. The automaker has received about 100 complaints related to the problem and is discussing the matter with National Highway Traffic Safety Administration (NHTSA) to see if a formal investigation is warranted.
Last week, Toyota expanded its global recall to 437,000 units (223,000 units in Japan, 156,000 in the U.S., 53,000 in Japan … [visit site to read more]

100 Squared: FCC’s Broadband Bet

Posted: 17 Feb 2010 11:50 AM PST

US telecom regulator Federal Communications Commission (FCC) has reportedly unveiled its ambitious plan to catapult domestic broadband speeds over the next ten years. The agency seeks Internet service providers (ISPs) to offer broadband speeds of 100 megabits per second (Mbps) to roughly 100 million US homes by 2020. Existing broadband networks offer speeds in the range of 3-10 Mbps. 

Announced by the FCC chairman Julius Genachowski on February 16, 2010, the proposal (called the “100 … [visit site to read more]

PMI Group’s Loss Widens

Posted: 17 Feb 2010 11:50 AM PST

PMI Group, Inc.'s (NYSE:PMI) fourth quarter loss from continuing operations came in at $2.76 per share, much higher than the Zacks Consensus Estimate of a loss of $1.61. This was also worse than the loss from continuing operations of $2.22 in the prior-year quarter.
 
Loss was primarily driven by continued high losses and loss adjustment expenses (LAE) in the U.S. Mortgage Insurance Operations. Higher claim rates within the primary portfolio also contributed to the fourth quarter loss. … [visit site to read more]

Forex Trading: GBPUSD Tests 200 Hour MA Line. Between The “Goal Posts”

Posted: 17 Feb 2010 11:44 AM PST

The GBPUSD has moved lower today with the stronger dollar but has found support at the 200 hour moving average .  The price is now in between the "Goal Posts" as defined by the 100 hour MA (blue line in the chart above) at the 1.5695 level and the 200 hour MA at the 1.5661 level (the low reached 1.5665). 
We will be watching these levels for the next directional clues.  A move above the top Goal Post at 1.5695 should lead to further upside momentum with the 1.5722 being an … [visit site to read more]

Greek Bondholders “Fooled” Or Goldman Sachs Committing Fraud?

Posted: 17 Feb 2010 11:43 AM PST

Bloomberg recently published a story entitled, "Goldman Sachs, Greece Didn't Disclose Swap, Investors 'Fooled'." However, a suspicious revision of the title to "Goldman Sachs, Greece Didn't Disclose Swap Contract," seems likely to be the result of criticism from Yves Smith over at Naked Capitalism.  Today, he questions why Bloomberg prefers to only discuss the Goldman Sachs-Greece cross currency swaps subterfuge as a sort of foolishness, rather than taking a much more … [visit site to read more]

Manulife Misses Zacks View

Posted: 17 Feb 2010 11:35 AM PST

Manulife Financial Corporation's (NYSE:MFC) fourth quarter earnings of 48 cents per share were below of the Zacks Consensus Estimate of 51 cents. The miss was driven by mark-to-market adjustments in real estate investments, model refinements to actuarial liabilities and tax adjustments. However, the company benefited from equity market appreciation and increases in corporate bond yields.
On a GAAP basis, the company reported net income of $801 million compared to a net loss of $1.5 billion in … [visit site to read more]

XTO Reports Strong Earnings

Posted: 17 Feb 2010 11:20 AM PST

Natural gas producer XTO Energy's (NYSE:XTO) fourth quarter results came in better than expected, primarily due to a rise in production volumes. Earnings per share, excluding non-cash derivative fair value loss, came in at 93 cents, 7 cents ahead of the Zacks Consensus Estimate and 25 cents more than the prior-year period.
Revenue was up 19.4% to $2.3 billion. During the quarter, operating income increased 39.5% to $989 million, while cash flow from operations was up 27.8% to $1.7 … [visit site to read more]

Forex Trading: EURUSD Moves Down To Support Level At The 1.3584 And Bounces

Posted: 17 Feb 2010 11:15 AM PST

The EURUSD moved down to the floor at the 1.3584 level.  This area has been a floor (key "Remembered" price going back to February 5th.  This is a key level to get … [visit site to read more]

FMC Tech Edges Past Estimates

Posted: 17 Feb 2010 11:05 AM PST

Oil drilling equipment maker FMC Technologies Inc. (NYSE:FTI) reported marginally better-than-expected fourth quarter results, helped by robust performance from its subsea oil and gas processing systems. Earnings per share from continuing operations came in at 75 cents, a penny above the Zacks Consensus Estimate as well as the prior-year period. However, revenue was down 3.7% year-over-year to $1.2 billion, as sales declined in the company's Energy Processing Systems segment. 

FMC's … [visit site to read more]

Here Are Three Stocks That Aren’t On Wall Street’s Radar Screen

Posted: 17 Feb 2010 11:01 AM PST

When I was an analyst at the uber-contrarian Avalon Research Group, we only initiated coverage on a stock if our opinion went against the consensus, or if the security was barely (or not at all) followed by Wall Street.

For this column, I’m going to focus on the latter - and show you how this seemingly unconventional investment strategy can actually make you a lot of money.

If you want quantifiable proof, consider this nice bit of research from Cem Demiroglu at Koc University in … [visit site to read more]

US Dollar: The Unsafe Safe Haven

Posted: 17 Feb 2010 11:00 AM PST

Stocks in, dollar out. That was the mood in the markets yesterday. One half we can understand. The other has us flabbergasted. That investors would sell the dollar seems like a no brainer. That they would buy stocks seems like a got-no-brainer. So, what gives?
First, the comprehensible: The greenback slipped about half a percent during yesterday's trading. The papers attributed the selloff to allayed fears over Greece's implosion and stronger economic data out of the States. For the sake of … [visit site to read more]

Forex Trading: EURUSD Remains Near Low Levels As The FOMC Minutes Awaited

Posted: 17 Feb 2010 10:59 AM PST

The EURUSD remains near the low levels of the day as the better data out of the US and the Greece issue weigh on the EURO.  The pair is below the 100 hour MA now at the 1.3659 level which is the next upside key resistance level for the pair.  On the downside yesterdays low at 1.3588 remains the next key level to breach.  Other key support comes in at the 1.3584 level which was the February 5th low. This level was the initial 2010 low until that was overtaken on February 12th at … [visit site to read more]

DPL Misses, Reaffirms Outlook

Posted: 17 Feb 2010 10:50 AM PST

Diversified energy utility DPL Inc. (NYSE:DPL) reported fourth-quarter 2009 results with earnings per share of 43 cents, missing the Zacks Consensus Estimate of 57 cents. Earnings also declined from 63 cents reported in the year-ago quarter. The trend was reflected in fiscal 2009 results, where EPS of $2.01 was lower than $2.12 in fiscal 2008.
 
Lower EPS stemmed from a 9% decrease in retail sales due to adverse economic and milder weather conditions; lower wholesale power prices; lower … [visit site to read more]

Video: Market Movers: WFMI, LZB, RAD, WAG, MSFT

Posted: 17 Feb 2010 10:36 AM PST

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

Industrial Production Recovering

Posted: 17 Feb 2010 10:33 AM PST

In January, the total output of the country's factories, mines and utilities — collectively referred to as our Industrial Production — rose by 0.9%. This follows gains of 0.7% in December (revised up from 0.6%) and 0.6% in November, so we are also seeing a nice acceleration in the trend. However, the Industrial production numbers were just plain awful early in 2009, so on a year-over-year basis production is up just 0.9%.
This marks the 6th straight month of rising overall industrial … [visit site to read more]

STMicro Divests Numonyx

Posted: 17 Feb 2010 10:23 AM PST

STMicroelectronics N.V. (NYSE:STM) announced that together with its partners Intel Corp. (NASDAQ:INTC) and Francisco Partners, it has entered into a definitive agreement with Micron Technology Inc. (NYSE:MU), in which Micron will acquire Numonyx Holding B.V. in an all-stock transaction. The Flash memory joint venture was created by the partners on Mar 30, 2008. 

This transaction ensures sustainable continuity to customers and employees of what had been, before the creation of Numonyx, ST’s Flash … [visit site to read more]

Market Rally Like The ’70s?

Posted: 17 Feb 2010 10:19 AM PST

Yesterday's big move in the Dow throws us back to our customary position – uncertainty, bordering on da-daism. The Dow rose 169 points yesterday. Gold shot up $29 to $1119.
"I think, therefore I am," said Rene Descartes. How did he know he thought? And what if he thought he wasn't? Would he not be? He should have tried following the stock market! It would have improved his philosophy. "I think I think," he would have emended his famous quotation. "But maybe I … [visit site to read more]

Unicom Bids To Enter Nigeria

Posted: 17 Feb 2010 10:18 AM PST

China Unicom (Hong Kong) Ltd. (NYSE:CHU) is looking to enter Africa's fastest growing telecom market Nigeria as the carrier has reportedly bid for a controlling stake in the state-owned telephone company Nigerian Telecommunications Ltd (NITEL) and its wireless subsidiary MTEL. 

The second largest Chinese wireless operator has joined a consortium called "New Generation Telecoms” which has placed a $2.5 billion bid to acquire a 75% stake in the Nigerian company. The consortium, which also … [visit site to read more]

Good News For Alkermes Pipeline

Posted: 17 Feb 2010 10:03 AM PST

Recently, Alkermes Inc. (NASDAQ:ALKS) announced encouraging topline data from an early-stage study of its candidate of ALKS 37. ALKS 37 is an orally active, peripherally-restricted opioid antagonist having the potential to block the effects of opioid agonists on gastrointestinal motility, commonly termed as opioid-induced constipation (OIC). Alkermes intends to present full results from the early-stage study at a future medical meeting. 

The randomized, double-blind, placebo-controlled study … [visit site to read more]

Video: Yen Weakens As Global Economy Shows Recovery Signs

Posted: 17 Feb 2010 10:02 AM PST

The Japanese yen continued to spiral downward this session following positive economic data out of the US and more signs that the global economy is recovering. … [visit site to read more]

IBM Acquires Intelliden

Posted: 17 Feb 2010 09:48 AM PST

International Business Machines Corp. (NYSE:IBM) announced that it has acquired privately held Intelliden Inc., an automation technology company. Financial terms of the acquisition were not disclosed. 

Intelliden is a leading provider of intelligent network automation software that helps telecommunications companies configure, manage and scale their networks. Intelliden is a venture formed by firms such as London-based 3i, Granite Global Ventures and Matrix Partners. 

The acquisition … [visit site to read more]

Why EQL May Be A Better S&P 500 ETF Than SPY

Posted: 17 Feb 2010 09:46 AM PST

In the world of investing, tradition is king, and lengthy histories carry significant weight with an investing public that is surprisingly entrenched in its ways. As creatures of habit, investors are slow to part with familiar strategies and metrics that have lengthy histories. Take the Dow Jones Industrial Average, for example. The "Dow" has several major flaws as an index (it's a price-weighted benchmark composed of 30 mega-cap equities), but it is one of the widely-followed numbers in … [visit site to read more]

Televisa Enters Wireless Ventures

Posted: 17 Feb 2010 09:33 AM PST

Grupo Televisa S.A. (NYSE:TV), the largest media company in the Spanish-speaking world, entered into the lucrative wireless communications market in Mexico . The company has signed an agreement with NII Holdings Inc. (NASDAQ:NIHD) to acquire 30% stake of the latter's wireless arm in Mexico, Nextel de Mexico. Antitrust regulators of Mexico already cleared the application of Televisa to partially acquire Nextel de Mexico's operations. 

According to the agreement, Televisa will acquire 30% … [visit site to read more]

Rogers Communications Beats

Posted: 17 Feb 2010 09:18 AM PST

Rogers Communications Inc. (NYSE:RCI) declared solid financial results for the fourth quarter 2009. Supported by strong free cash (cash flow from operations less capital expenditures) generation, the Board of Directors of Rogers increased the annualized dividend rate by 10% from $1.16 to $1.28 per Class A Voting and Class B Non-Voting share effective immediately. It has also approved the renewal of Rogers' NCIB program for the repurchase of up to $1.5 billion of its Class B non-Voting … [visit site to read more]

Singapore Stock Market Update For Wednesday 17 February

Posted: 17 Feb 2010 04:39 AM PST

Morning Highlights
Singapore Stocks jumped early Wednesday as trading resumed after the Chinese New Year holiday, with a strong overnight show on Wall Street on the back of strong manufacturing data and easing concerns about Greece’s debt crisis. STI gapped up 34.35 points to open at 2793.25.
Other Asian markets were also higher with Hang Seng Index gained 1.9% to 20,656.80 and Japanese shares surged 2.10%; with a rise in commodities and metals prices lifting the resources sector.
Markets in … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 1

Posted: 17 Feb 2010 07:01 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 2

Posted: 17 Feb 2010 07:00 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 3

Posted: 17 Feb 2010 06:59 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 4

Posted: 17 Feb 2010 06:58 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 5

Posted: 17 Feb 2010 06:57 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 6

Posted: 17 Feb 2010 06:56 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Steve Meizinger On “Back To Basics, FX Options Pricing” III, Part 7

Posted: 17 Feb 2010 06:55 AM PST

Join Steve Meizinger, Director of Education at the ISE, as he provides an options refresher geared toward FX traders. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 1

Posted: 17 Feb 2010 06:54 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 2

Posted: 17 Feb 2010 06:53 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 3

Posted: 17 Feb 2010 06:52 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 4

Posted: 17 Feb 2010 06:51 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 5

Posted: 17 Feb 2010 06:50 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 6

Posted: 17 Feb 2010 06:49 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 7

Posted: 17 Feb 2010 06:48 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 8

Posted: 17 Feb 2010 06:47 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Jason Ayres On “Adapting Your Options Strategies To The Volatility Of The Market” Part 9

Posted: 17 Feb 2010 06:46 AM PST

Join Jason Ayres, DMS and Founder of Optionource.net, as he discusses the concept of volatility. … [visit site to read more]

Analyst Interviews: Alternative Energy Stock Review

Posted: 16 Feb 2010 09:00 PM PST

OUTLOOK
The Alternative Energy industry is going through a recovery after emerging from the global recession and the cascading fall in global crude oil prices. Last year, quite a few alternative energy companies were in the trough. And although these companies have recovered from their lows, their valuations are still significantly lower than their 52-week highs.
The growth of alternative energy companies is closely tied to the fortunes of the economy. In its latest release, the Energy … [visit site to read more]
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