Daily Markets - Financial News Updates |
- My Latest Market Observation « Michael Panzner »
- Should You Go With Gold ETFs Or Gold Miner ETFs? « David Bettencourt »
- Have Gold And Silver Already Begun A Rapid Descent? « Derek Blain »
- Forex Trading: Risk Aversion Returns, Sending U.S. Dollar Higher « BrewerFX »
- Daily ETF Roundup: EWZ, GDX Slide 5% « Michael Johnston »
- Jobs Jobs Jobs – Trade Trade Trade « Bob McTeer »
- Largest S&P 500 Pullback Since March 2009’s Rally « Bill Luby »
- Contract Wins By CSC « Zacks Investment Research »
- Solar ETFs: Bright Future Or Headed For A Burnout? « Michael Johnston »
- Stock Market Decline Due To Concerns Over Sovereign Debt Or Jobs? « Joseph Meth »
- Near-term Outlook Positive For Cameron « Zacks Investment Research »
- Book Review: How To Read A Financial Report By John A. Tracy « Jacob Wolinsky »
- The Coming Trade War « Daily Reckoning »
- CIA Spooks Expand Into Financial Services Work « Daily Reckoning »
- Orange/T-Mobile Faces UK Probe « Zacks Investment Research »
- Triumph Group Underperforms « Zacks Investment Research »
- Reynolds Profits Miss Forecasts « Zacks Investment Research »
- Perspectives On Canadian Real Estate For Q1 2010 « Arjun Rudra »
- Vancouver 2010: Olympic Fever Hits The Agora Investment Symposium Director « Daily Reckoning »
- Snap-on Exceeds Consensus « Zacks Investment Research »
- Who’s Killing Financial Reform? « Robert Reich »
- Video: NYSE Closing Bell Market Monitor: EK, CSCO « NYFP »
- Northrop Fires Past Estimates « Zacks Investment Research »
- Hospira Surges Ahead « Zacks Investment Research »
- Manitowoc Posts A Net Loss « Zacks Investment Research »
- A Momentum Peek Inside The January S&P 500 (SPY) Decline « Corey Rosenbloom »
- Interactive: What Should Be The Death Of The Birth/Death Model « Daily Reckoning »
- Kellogg’s Misses Zacks Consensus « Zacks Investment Research »
- Global X Planning Gold, Silver Miners ETFs « Michael Johnston »
- Avon Reports Modest Results « Zacks Investment Research »
- CIGNA Outperforms, Reaffirms « Zacks Investment Research »
- Health Net Tops Marginally « Zacks Investment Research »
- BCE Beats, Outlook Favorable « Zacks Investment Research »
- Examining 13-D Filings: Become An Activist… For Your Money « Daily Reckoning »
- Starwood Beats, Lifts Outlook « Zacks Investment Research »
- Brazilian Bovespa: Dead Money « Guy Lerner »
- Clorox Beats, Raises Guidance « Zacks Investment Research »
- Housing Market Update: What’s Lurking In The Shadow Market? « Daily Reckoning »
- Deutsche Bank Turns Profit « Zacks Investment Research »
- Fortune 500 Firms In 1959 Vs. 2009: 86% Are Gone « Mark Perry »
- Singapore Stock Market Update For Thursday 04 February « Vivien Chia »
| My Latest Market Observation « Michael Panzner » Posted: 04 Feb 2010 06:07 PM PST Once a month or so I write a Market Observation for Financial Sense. Here is an excerpt from today’s edition: As the following graph illustrates, those European nations that have spent too freely and borrowed too much are discovering that there's a price to pay for their profligacy. With the market price of insuring against default increasing rapidly, odds are that Portugal, Greece, Spain, Italy, the United Kingdom, and Austria, among others, will find it increasingly difficult to remain in … [visit site to read more]
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| Should You Go With Gold ETFs Or Gold Miner ETFs? « David Bettencourt » Posted: 04 Feb 2010 05:45 PM PST “What’s better: gold or gold mining stocks?” I’m asked this question often at cocktail parties, but people aren’t always pleased with the answer I give: “It depends.” For most of the past 12 months, gold stocks had the upper hand, at least as measured by the ratio of the two most popular exchange-traded funds tracking mining shares and bullion. In February 2009, the price of the SPDR Gold Shares Trust (GLD) was nearly 2x higher than that of the Market Vectors Gold Miners ETF (GDX). But … [visit site to read more]
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| Have Gold And Silver Already Begun A Rapid Descent? « Derek Blain » Posted: 04 Feb 2010 05:01 PM PST This morning, I watched a video of the CEO of Gold Fields, Mr. Nick Holland, expressing his surprise at Soro’s recent statement that gold is the “ultimate bubble”. Mr. Holland said that almost every other expert on markets he talked to had a vastly different opinion of the metal - that it was “fundamentally sound” etc. So, that being said, how does one explain the drop to a new low for this gold bear market, just moments ago? If fundamentals are so good, if the experts all agree that … [visit site to read more]
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| Forex Trading: Risk Aversion Returns, Sending U.S. Dollar Higher « BrewerFX » Posted: 04 Feb 2010 04:21 PM PST Investors sold higher risk commodities and stocks and bought lower yielding assets on concerns that the sovereign debt issues in Greece will spread to other economies in the Euro Region. The Dollar finished sharply higher versus most major currencies except the Yen.
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| Daily ETF Roundup: EWZ, GDX Slide 5% « Michael Johnston » Posted: 04 Feb 2010 04:08 PM PST Thursday's freefall intensified fears that a double-dip has already begun, as many major benchmarks endured their worst single-session slide since April. Despite a qualified endorsement of Greece's budget plan from the European Commission, worries of a meltdown in European credit markets sparked a global sell-off. Elsewhere, New York Attorney General Andrew Cuomo filed charges against Bank of America and the retail sector reported impressive January results.
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| Jobs Jobs Jobs – Trade Trade Trade « Bob McTeer » Posted: 04 Feb 2010 04:01 PM PST Warning: In terms of the title, I’m about to bury my lead. Either be patient, or jump ahead. Yesterday my dentist asked me if there was a short and sweet book I could recommend to him that would help him establish a framework for his thinking on matters economic. He thought he had good instincts about the major topics of the day-which I can confirm-but he needed a theory or theme for structure to organize his thinking. I said I would think about it. Actually, I’ve given a lot of … [visit site to read more]
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| Largest S&P 500 Pullback Since March 2009’s Rally « Bill Luby » Posted: 04 Feb 2010 03:32 PM PST Given all the requests I have to update the table below, I guess it is time to come to terms that the SPX Peak to Trough Summary Chart is going to be a regular feature on the blog for the time being. This time around I have made a couple of minor changes. First, the 9.1% pullback of June-July 2009 is now highlighted in gray and the current pullback is highlighted in light red. Second, I have highlighted in a darker red those cells which indicate the current selloff has reached an … [visit site to read more]
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| Contract Wins By CSC « Zacks Investment Research » Posted: 04 Feb 2010 03:28 PM PST Computer Science Corporation (CSC) has been in the news recently for winning some important contracts, though their impact on near-term earnings is not significant.
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| Solar ETFs: Bright Future Or Headed For A Burnout? « Michael Johnston » Posted: 04 Feb 2010 03:20 PM PST The ETF industry has been credited with bringing exotic asset classes and investment strategies within the reach of all levels of investors. But it has also provided a potentially better way to invest in asset classes and industries that have historically exhibited significant volatility. Because the ETF structure provides immediate diversification of holdings at a reasonable rate, it has been embraced as an efficient way to invest in junk bonds, micro cap stocks, and tech companies. ETFs have … [visit site to read more]
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| Stock Market Decline Due To Concerns Over Sovereign Debt Or Jobs? « Joseph Meth » Posted: 04 Feb 2010 03:13 PM PST Sovereign debt or jobs? That’s about all I heard from those trying to explain or, more correctly, rationalize Thursday’s decline. What does it matter? All this conversation acts as a veil to diffuse the truth which is …. this correction was predictable. Better yet, it was predicted by many technical analysts (including moi) who looked at the difficulty the market was having crossing above the critical 1150 level (see “The Importance of S&P 1150 Can’t be Overstated” of January … [visit site to read more]
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| Near-term Outlook Positive For Cameron « Zacks Investment Research » Posted: 04 Feb 2010 03:12 PM PST Oil drilling equipment maker Cameron International Corp. (CAM) is scheduled to report its fourth-quarter results on Tuesday, Feb 9, 2010, before the start of trading.
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| Book Review: How To Read A Financial Report By John A. Tracy « Jacob Wolinsky » Posted: 04 Feb 2010 03:01 PM PST I took a break from my series of book reviews on the financial crisis to review a book on an unrelated topic (My next book review will be back to the financial crisis). My latest book review is How to Read a Financial Report: Wringing Vital Signs Out of the Numbers by John Tracy. The book was brought to my attention after a leading value investor (I do not recall which one) recommended it as a great book on analyzing financial statements. I also researched the book a little and found many … [visit site to read more]
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| The Coming Trade War « Daily Reckoning » Posted: 04 Feb 2010 03:00 PM PST We write today's edition with the ghosts of Smoot and Hawley lurking over our shoulder. And Winston Churchill whispering "jaw-jaw" is better than "war-war."
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| CIA Spooks Expand Into Financial Services Work « Daily Reckoning » Posted: 04 Feb 2010 02:59 PM PST The CIA already has its hands full with counterterrorism and at least two wars… so it seems like the perfect time to enter just one more quagmire. As if the ethics of the CIA haven't been questioned quite enough of late, a recently-revealed policy allows operatives to work in the corporate world — including the moral bedrock of our nation that is the financial services sector — as consultants in skills such as "deception detection."
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| Orange/T-Mobile Faces UK Probe « Zacks Investment Research » Posted: 04 Feb 2010 02:46 PM PST The proposed merger of the UK units of European telecom giants Deutsche Telekom (DT) and France Telecom (FTE) in a 50-50 joint venture faces the possibility of an investigation by the Office of Fair Trading (OFT), the UK antitrust watchdog. OFT is of the opinion that the merger deal could significantly subdue competition in the UK wireless market.
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| Triumph Group Underperforms « Zacks Investment Research » Posted: 04 Feb 2010 02:30 PM PST Triumph Group, Inc. (TGI) reported results for the third quarter of fiscal 2010. Income from continuing operations was $18.1 million, or $1.08 per diluted share — down from $20.1 million, or $1.21 per diluted share, for the third quarter of the prior year. Reported EPS was also below the Zacks Consensus Estimate of $1.20.
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| Reynolds Profits Miss Forecasts « Zacks Investment Research » Posted: 04 Feb 2010 02:12 PM PST Reynolds American Inc. (RAI) reported fourth quarter earnings of $1.10 per share, down from the Zacks Consensus Estimate of $1.15 and the last year's earnings of $1.27. The quarterly decline in earnings was the result of higher pension expenses.
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| Perspectives On Canadian Real Estate For Q1 2010 « Arjun Rudra » Posted: 04 Feb 2010 02:01 PM PST The results of a comprehensive survey that measured the confidence of senior executives in the Canadian commercial real estate industry were released today by the Real Property Association of Canada (REALpac) and FPL Advisory Group (FPL). The aim of this survey was to measure the pulse of the Canadian commercial real estate industry over time. The REALpac/FPL Canadian Real Estate Sentiment Index for Q1/2010 came in at 76 on an overall basis, up from 68 last quarter. On a sentiment … [visit site to read more]
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| Vancouver 2010: Olympic Fever Hits The Agora Investment Symposium Director « Daily Reckoning » Posted: 04 Feb 2010 02:00 PM PST This is odd, but Vancouver must be the warmest and greenest city to host the Winter Olympic Games…ever. Obviously, this place is known for having a very temperate climate, which we love when we are here for the Symposium in July. And just escaping the summer heat of much of the lower 48 states is reason enough to come to Vancouver. But as a site for the Winter Olympics, it seems strange that there are leaves on the trees, the grass is green, and people are running and biking along the … [visit site to read more]
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| Snap-on Exceeds Consensus « Zacks Investment Research » Posted: 04 Feb 2010 01:58 PM PST Snap-on Incorporated (SNA) reported fourth quarter 2009 earnings per share from continuing operations of 63 cents, exceeding the Zacks Consensus Estimate of 55 cents.
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| Who’s Killing Financial Reform? « Robert Reich » Posted: 04 Feb 2010 01:53 PM PST Senator Chris Dodd, the chairman of the Senate Banking Committee, scolded Wall Street representatives at a hearing Thursday for sending "an army of lobbyists whose only mission is to kill the common-sense financial reforms" needed by the public. "The fact is," Dodd said, "I am frustrated, and so are the American people." He charged that Wall Street's intransigence was the reason for Congress's failure to pass any bill to regulate the Street. "The refusal of large … [visit site to read more]
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| Video: NYSE Closing Bell Market Monitor: EK, CSCO « NYFP » Posted: 04 Feb 2010 01:52 PM PST 02//04/10 The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Northrop Fires Past Estimates « Zacks Investment Research » Posted: 04 Feb 2010 01:43 PM PST Los Angeles-based leading shipbuilder and defense contractor Northrop Grumman Corporation (NOC) reported impressive fourth quarter results, with EPS of $1.37 beating the Zacks Consensus Estimate of $1.26. The upsurge was also witnessed in fiscal 2009 results where an EPS of $5.50 swept past the Zacks Consensus Estimate of $5.16.
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| Hospira Surges Ahead « Zacks Investment Research » Posted: 04 Feb 2010 01:27 PM PST Hospira (HSP) reported strong fourth quarter and full year 2009 results. Earnings per share (EPS) came in at 87 cents, well above the Zacks Consensus Estimate of 70 cents and the year-ago earnings of 78 cents.
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| Manitowoc Posts A Net Loss « Zacks Investment Research » Posted: 04 Feb 2010 01:14 PM PST The Manitowoc Company, Inc. (MTW) reported a net loss of 7 cents per share for the fourth quarter of 2009, compared to the Zacks Consensus Estimate of a net profit of 3 cents per share and prior-year earnings of 46 cents per share.
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| A Momentum Peek Inside The January S&P 500 (SPY) Decline « Corey Rosenbloom » Posted: 04 Feb 2010 01:01 PM PST It’s often helpful to step 'inside’ the price action, particularly if you are a swing trader and especially if you are an intraday trader to see the structure and formation of price and how it compares to momentum. Let’s take a look at the 10min S&P 500 ETF (SPY) chart and note the current levels to watch going forward. (Click for full-size chart) Starting with the January 20th initial 'plunge,’ I drew a simple Fibonacci grid to connect the January 29th low to find the … [visit site to read more]
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| Interactive: What Should Be The Death Of The Birth/Death Model « Daily Reckoning » Posted: 04 Feb 2010 01:00 PM PST Of all the activities the US government undertakes, it's the misleading ones that seem to occur most consistently. Revisions are always a good example, and one of the ugliest this week, well… at least tomorrow, will be the Friday jobs report. It's expected to show a staggering 824,000 additional job losses between April and March of 2008, the largest such revision in nearly two decades.
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| Kellogg’s Misses Zacks Consensus « Zacks Investment Research » Posted: 04 Feb 2010 01:00 PM PST Kellogg Company (K) reported fourth-quarter results with earnings of 46 cents per share. Earnings were below the Zacks Consensus Estimate of 48 cents and down 2.1% year over year.
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| Global X Planning Gold, Silver Miners ETFs « Michael Johnston » Posted: 04 Feb 2010 12:55 PM PST Over the past six months, New York-based Global X has introduced a line of sector-specific China ETFs, many of which have already seen impressive cash inflows and daily trading volumes. Now the upstart ETF issuer is turning its attention to commodities, filing for approval on four funds tracking indexes composed of mining stocks. The ETFs include: Global X Copper Miners ETF: This ETF would be linked to the Solactive Global Copper Miners Index, a market capitalization-weighted index that is … [visit site to read more]
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| Avon Reports Modest Results « Zacks Investment Research » Posted: 04 Feb 2010 12:47 PM PST Avon Products Inc. (AVP) reported fourth-quarter results with earnings of 62 cents per share. Earnings were below the Zacks Consensus Estimate of 68 cents but up 14.8% from 54 cents reported in the prior-year period.
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| CIGNA Outperforms, Reaffirms « Zacks Investment Research » Posted: 04 Feb 2010 12:33 PM PST CIGNA Corporation's (CI) fourth quarter operating earnings of $1.03 per share were ahead of the Zacks Consensus Estimate of 96 cents. The company had earned 48 cents a share in the year-ago period.
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| Health Net Tops Marginally « Zacks Investment Research » Posted: 04 Feb 2010 12:16 PM PST Health Net (HNT) reported fourth quarter earnings per share (EPS) of 69 cents, surpassing the Zacks Consensus Estimate of 67 cents and the year-ago quarter's 61 cents.
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| BCE Beats, Outlook Favorable « Zacks Investment Research » Posted: 04 Feb 2010 12:01 PM PST BCE Inc (BCE), Canada's largest telephone operator, announced results for fourth-quarter 2009 with adjusted (excluding restructuring and special items) earnings per share of 51 Canadian cents (48 US cents per ADS), beating the Zacks Consensus Estimate of 49 Canadian cents (46 US cents per ADS). However, adjusted earnings fell 7.3% year-over-year.
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| Examining 13-D Filings: Become An Activist… For Your Money « Daily Reckoning » Posted: 04 Feb 2010 12:00 PM PST Ninety-seven percent of all stock mutual funds are down from where they stood at the beginning of 2008. If you are surprised by this not-so-trivial piece of trivia, you shouldn't be. Very few mutual fund managers actually manage their funds in a way that could produce meaningful outperformance. So if it's outperformance you want, you'll probably have to do it yourself.
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| Starwood Beats, Lifts Outlook « Zacks Investment Research » Posted: 04 Feb 2010 11:50 AM PST Starwood Hotels and Resorts Worldwide Inc. (HOT) has reported fourth quarter loss from continuing operations of $186 million or $1.03 per share. The company incurred a loss of $45 million or -25 cents per share from continuing operations a year earlier.
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| Brazilian Bovespa: Dead Money « Guy Lerner » Posted: 04 Feb 2010 11:37 AM PST Figure 1 is a monthly chart of the Brazilian Bovespa Index. Figure 1. Brazilian Bovespa/ monthly The indicator in the lower panel measures the number of negative divergence bars occurring between price and an oscillator that measures that price action. Negative divergence bars are the price bars with pink markers on them. As we have shown many times before (see this link and this link) across multiple markets, a clustering of negative divergence bars implies slowing price momentum. Often, a … [visit site to read more]
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| Clorox Beats, Raises Guidance « Zacks Investment Research » Posted: 04 Feb 2010 11:36 AM PST The Clorox Co. (CLX) recorded 28% growth in fiscal second-quarter earnings to $110 million from $86 million in the year-ago quarter. Earnings per share came in at 77 cents, which topped the Zacks Consensus Estimate by 2 cents.
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| Housing Market Update: What’s Lurking In The Shadow Market? « Daily Reckoning » Posted: 04 Feb 2010 11:30 AM PST Supply and demand in the housing market remain seriously out of whack. The Commerce Department reports housing vacancies remain near record levels. And a staggering 21% of housing units built since 2000 sit empty. That's a whole lot of cheap drywall and expensive countertops.
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| Deutsche Bank Turns Profit « Zacks Investment Research » Posted: 04 Feb 2010 11:22 AM PST Deutsche Bank AG (DB) reported a fourth quarter net income of €1.3 billion ($1.9 billion) or €2.00 a share, compared to a net loss of €4.8 billion or €8.71 per share a year earlier. Results were primarily driven by a tax benefit. Additionally, the company experienced an increase in sales and trading revenue in the quarter.
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| Fortune 500 Firms In 1959 Vs. 2009: 86% Are Gone « Mark Perry » Posted: 04 Feb 2010 10:01 AM PST What do the companies in these three groups have in common? Group A. American Motors, Studebaker, Eastman Kodak, Maytag and National Sugar Refining. Group B. Boeing (BA), Campbell Soup (CPB), Deere (DE), IBM (IBM) and Whirlpool (WHR). Group C. Cisco (CSCO), eBAy (EBAY), McDonald’s (MCD), Microsoft (MSFT) and Yahoo (YHOO). All the companies in Group A were in the Fortune 500 in 1959, but not in 2009. All the companies in Group B were in the Fortune 500 in … [visit site to read more]
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| Singapore Stock Market Update For Thursday 04 February « Vivien Chia » Posted: 03 Feb 2010 05:45 PM PST Morning Highlights Noble Group proposed to issue an additional US400 … [visit site to read more]
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