Feb 3, 2010

Daily Markets - Financial News Updates

Daily Markets - Financial News Updates

The Baltic Dry Index And Its Implications For Global Growth And Stock Markets « Arjun Rudra »

Posted: 03 Feb 2010 06:01 PM PST

The Baltic Dry Index is a shipping price index created by the London based Baltic Exchange. It measures changes in prices of transporting dry bulk cargo such as grain, cocoa, phosphates, fertilizers, animal feed, oil, coal, iron ore and metal by sea. The Baltic Dry Index is calculated by taking the time charter components of the Baltic’s capesize, panamax, supramax and handysize indices (Baltic Exchange). Multiple geographic routes are taken into consideration in the calculation of all … [visit site to read more]

‘You Cannot Buy Groceries With Your House’ « Michael Panzner »

Posted: 03 Feb 2010 05:41 PM PST

One of the many (dubious) assumptions that Wall Street rocket scientists made before the housing and credit bubbles burst centered on what mortgagors would do if the economy hit a “speed bump” (back then, of course, the conventional wisdom was that severe downturns had been eliminated by expert policymaking, reams of academic research, and the wisdom of the ages).
Generally speaking, they believed that homeowners who ran into financial difficulties would behave in the same way that others had … [visit site to read more]

Singapore Stock Market Update For Thursday 04 February « Vivien Chia »

Posted: 03 Feb 2010 05:40 PM PST

SIA soars
National carrier Singapore Airlines surprised the market yesterday with a return to the black: 3QFY2010 (SIA has a March year end) profits came in at $404 million, besting most analyst expectations. The market promptly rewarded the airline, sending its stock up 86 cents or 6.3% today to close at $14.52, marking its biggest gain since May 7, according to Bloomberg. Analysts too moved to upgrade the stock with OSK (Asia) Securities raising its call to a "buy" from "neutral", … [visit site to read more]

Proprietary Trading Did Bring Down Wall Street « Larry Doyle »

Posted: 03 Feb 2010 05:01 PM PST

The Wall Street lobby in all its glory is fighting tooth and nail to defend its turf from the volley launched by former Fed Chair Paul Volcker. Recall that the newly designated Volcker Rule, if implemented, would disallow proprietary activities from those institutions taking consumer deposits. This implementation would effectively reinstitute the Glass-Steagall Act which was rescinded in 1999.

The proprietary activities most often highlighted by those in the banking community are … [visit site to read more]

Forex Trading: Bearish Trend In AUD/USD « James Chen »

Posted: 03 Feb 2010 04:01 PM PST

Price action on AUD/USD, a daily chart of which is shown, continues to languish in a sideways consolidation, although the last couple of weeks have been decidedly bearish for the pair. After price reached strong resistance around 0.9325 in mid-January (just shy of the 15-month high around 0.9400 that was hit in mid-November 2009), the directional bias has been steeply bearish, forming a well-defined short-term downtrend resistance line. In the process of this bearishness, the pair has fallen … [visit site to read more]

IBM’s Earnings Estimates Rising « Zacks Investment Research »

Posted: 03 Feb 2010 03:31 PM PST

The earnings performance for International Business Machine Corp. (IBM) has been quite stellar in recent quarters and has consistently surpassed the Zacks Consensus Estimate. IBM posted impressive numbers last quarter with better-than-expected revenue, margins and profitability.
IBM also reported higher Services and software revenue last quarter, while hardware fell, though not as much as in the previous quarters. The company’s cost-cutting initiatives and growing focus on high margin … [visit site to read more]

Daily ETF Roundup: JJC Sinks, UUP Climbs Again « Michael Johnston »

Posted: 03 Feb 2010 03:12 PM PST

Wednesday saw a significant reduction to the growth seen in the first two days of February, as the health care sector weighed on major benchmarks. Major earnings reports were mixed, with Cisco beating estimates (after the bell) and Pfizer falling short. Fed chairman Ben Bernanke was sworn in to a second term, arguing in support of the central bank's independence while promising to bring increased transparency to the organization as well.
The ETFdb 60 Index, a benchmark measuring the … [visit site to read more]

International Paper Beats By 1 Cent « Zacks Investment Research »

Posted: 03 Feb 2010 03:10 PM PST

International Paper Co. (IP) reported fourth-quarter EPS of 24 cents, slightly above the Zacks Consensus Estimate of 23 cents and up 14% from EPS of 21 cents reported in the prior-year quarter. Earnings growth in the quarter was primarily a result of the company's overhead cost reduction efforts as well as integration synergies.
Quarterly sales of $6.0 billion were 8.7% lower than the year-ago sales of $6.5 billion. The company's packaging business has been adversely impacted by declining … [visit site to read more]

Cartoon: Federal Spending Is The Gas Pedal Stuck « Prieur du Plessis »

Posted: 03 Feb 2010 03:01 PM PST

Source: John Cole, Comics.com, January 28, … [visit site to read more]

Volcker Swiftly, Violently Shot Down By Congress « Daily Reckoning »

Posted: 03 Feb 2010 03:00 PM PST

Yesterday, former Federal Reserve chairman Paul Volcker finally gave his testimony to Congress on "Volcker's Rule," which is his plan to restrict risky trading by commercial banks. Today, we report back that the effort to bridle the wild and too big to fail horses of Wall Street is looking pretty much dead in the water.
According to The Wall Street Journal:
"Mr. Volcker's testimony was at once a brilliant articulation of the structural dangers of Wall Street as it stands and a … [visit site to read more]

US Spending Pedal To The Metal « Daily Reckoning »

Posted: 03 Feb 2010 03:00 PM PST

With millions of cars recalled, 19 deaths linked to safety defects, and perhaps $2 billion in related losses… let's just hope that Toyota isn't really Obama's best source of … [visit site to read more]

Vancouver Is Bustling « Daily Reckoning »

Posted: 03 Feb 2010 03:00 PM PST

Greetings from Vancouver, Eh?
This place is buzzing with Olympic activity. It's easy to get caught up in it. So many changes since we were last here in July for the Symposium, it's hard even know where to begin. There seems to be little evidence of an economic slowdown around here, at least until the post-Olympic hangover begins next month. Let the party begin.
As I boarded the plane in Denver, There were several athletes in team clothing, traveling with their families… Two US speed … [visit site to read more]

Hubbell Beats, 2010 Looks Murky « Zacks Investment Research »

Posted: 03 Feb 2010 02:58 PM PST

Hubbell Inc.'s (HUB.B) fourth quarter earnings beat the Zacks Consensus by $0.10.
Total Revenue
Revenue for the period was $591.9 million, flat sequentially (down 0.3%) and down 9.2% year over year. Core revenue excluding the contribution from acquisitions and negative currency impact was down 18%. The decline was attributable to broad-based weakness in the electrical products business, particularly related to non-residential construction, residential lighting, as well as declines in the … [visit site to read more]

Holdings In Gold And Silver ETFs See Major Outflows In January « David Bettencourt »

Posted: 03 Feb 2010 02:48 PM PST

The world’s largest gold-backed exchange-traded fund, New York’s SPDR Gold Trust (GLD), said its holdings fell 21.7 tonnes or 1.9 percent in January, against a rise of 63.36 tonnes or 8.1 percent in the same month of 2009.

Data showed the trust, which issues securities backed by physical stocks of gold, held 1,111.922 tonnes of bullion on Friday, the last trading day of January, against 1,133.622 tonnes on Dec. 31.

The SPDR fund saw record inflows in the first quarter of 2009 as fears … [visit site to read more]

Thermo Fisher Surpasses Estimates « Zacks Investment Research »

Posted: 03 Feb 2010 02:47 PM PST

Thermo Fisher Scientific, Inc. (TMO) reported fourth quarter and full fiscal 2009 results. For the fourth quarter, earnings per share were 91 cents, surpassing the Zacks Consensus Estimate of 88 cents and the year-ago earnings of 87 cents. For fiscal 2009, earnings per share were $3.05, compared to the Zacks Consensus Estimate of $3.02 and the year-ago earnings of $3.13.
Quarterly Results
Total revenues in the fourth quarter increased 7% year over year to a record $2.84 billion. Growth was … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: PFE, TM, WAG « NYFP »

Posted: 03 Feb 2010 02:41 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]

Video: Oil Prices Slide Following Rally « NYFP »

Posted: 03 Feb 2010 02:28 PM PST

Front month crude prices were on the downside this session after posting huge gains the day before. … [visit site to read more]

Black & Decker Outperforms « Zacks Investment Research »

Posted: 03 Feb 2010 02:27 PM PST

Black & Decker Corporation (BDK) reported fourth-quarter earnings of 55 cents per share compared to 72 cents in the fourth quarter of 2008. The reported quarter earnings include $58.8 million of pre-tax expenses related to the proposed merger with The Stanley Works (SWK), while 4Q08 earnings include a $20.8 million pre-tax restructuring charge.
Excluding these one-time charges, Black & Decker reported earnings of $1.24 for the fourth quarter of 2009, compared to $0.96 in the fourth … [visit site to read more]

Ryder Lags On Low Revenues « Zacks Investment Research »

Posted: 03 Feb 2010 02:12 PM PST

Ryder System Inc. (R) fourth quarter earnings per share of 41 cents was short of the Zacks Consensus Estimate of 46 cents. Last year, the company reported earnings of $1.10 per share. The decline was driven by decreased global results in full service lease, higher pension expense, reduced commercial rental performance and lower results from used vehicle sales operations.
Ryder reported total revenue of $1.25 billion, down 7% from $1.34 billion in the same period in the prior year, adversely … [visit site to read more]

ECB And BOE Decisions On Extraordinary Measures Expected « Matteo Radaelli »

Posted: 03 Feb 2010 02:01 PM PST

The ECB is widely expected to leave the rate unchanged at 1% at the close of its monetary policy meeting on Thursday, since economic data published in the last few weeks did not change the economic outlook depicted by ECB Chairman Trichet during the latest press conference in January. While economic activity continued dilating at the end of 2009, uncertainty as to the sustainability of current economic recovery remains high as a number of supporting factors are merely temporary. Moreover, … [visit site to read more]

Monetary Stimulus Produces Phony Recovery « Daily Reckoning »

Posted: 03 Feb 2010 02:00 PM PST

Got money?
You might find it hard to hold onto. Americans with money are caught in a vise. On the one side is the de-leveraging economy. On the other is the government.
The depression squeezes everything – asset prices, businesses, earnings. And it's going to be with us for years – no matter what the papers tell you. Get ready for a 20% decline in stock prices, says our old friend Marc Faber. Another analyst puts the current P/E at 22…also implying a loss of about 20% just to get down … [visit site to read more]

ITT Corporation Tops Estimates « Zacks Investment Research »

Posted: 03 Feb 2010 01:59 PM PST

ITT Corporation (ITT) reported fourth quarter 2009 earnings from continuing operations of 97 cents per share, exceeding the Zacks Consensus Estimate of 93 cents. The company reported revenue of $2.9 billion for the quarter.
Segment Information
ITT Defense & Information Solutions revenue was $1.6 billion, down 1% compared to the year-ago period, as lower tactical radio volumes offset growth in service contracts and international Night Vision revenues. Fourth-quarter operating income for … [visit site to read more]

Cisco Beats Big « Michael Vodicka »

Posted: 03 Feb 2010 01:50 PM PST

Cisco Systems, Inc. (CSCO) kept the recent string of positive earnings surprises from big technology companies alive with better-than-expected Q2 results today after the bell.
Sales for the three months ending January 23 were up 8% from last year to $9.8 billion. Earnings also came in strong at 40 cents per share on an adjusted basis, 10 cents better than the Zacks Consensus Estimate. Cisco has been very consistent over the last year in a tough market, beating in all four quarters by an … [visit site to read more]

Ralph Lauren Beats, Warns, Slips « Zacks Investment Research »

Posted: 03 Feb 2010 01:44 PM PST

Polo Ralph Lauren Corp. (RL) reported results for the third quarter of fiscal 2010 with earnings of $1.10 per share. Earnings were ahead the Zacks Consensus Estimate of $1.00 and were up 4.8% year-over-year. The better-than-expected performance was primarily driven by higher gross margin.
However, the company warned that results during fiscal fourth quarter is expected to reduce by 8 cents to 10 cents per share due to costs associated with the decision to assume direct control of Asia-Pacific … [visit site to read more]

Is The Rebound For The Dow, Alcoa, UAL And McMoRan Real? « Tradesman »

Posted: 03 Feb 2010 01:31 PM PST

Is this rebound in the Dow Jones for real ? It remains to be seen over the performance of DJ over the next few nights. I am not so convinced at this stage of a strong rebound for the reason that the volume on DJ seems pretty weak and low evenr though DJ did make a spectacular 100+ pts rebound yesterday. Also Shanghai Index barely closes above 3000 point today. Until i see strength in the two dominant super giant economies, i would remain cautious and bias towards shorting … [visit site to read more]

News Corp Tops Zacks Estimate « Zacks Investment Research »

Posted: 03 Feb 2010 01:30 PM PST

Today, News Corporation (NWS) reported better-than-expected second-quarter 2010 results on the heels of an improved advertising environment, and significant cost-cutting initiatives taken by management to combat the downturn.
The quarterly earnings of 25 cents a share outdid the Zacks Consensus Estimate of 20 cents, and surged 66.7% from 15 cents delivered in the year-ago quarter. News Corporation's quarterly earnings topped the Zacks Consensus Estimate by 25%.
Estimate Revisions & … [visit site to read more]

Western Union In-Line, Profits Drop « Zacks Investment Research »

Posted: 03 Feb 2010 01:16 PM PST

Western Union Co.'s (WU) fourth quarter earnings came in at 32 cents per share, in-line with the Zacks Consensus Estimate. However, the company continued to experience a challenging economic environment. Earnings have decreased from the prior-year quarter when the company had earned 34 cents, or 37 cents excluding restructuring expenses. Western Union's earnings guidance for 2010 is also below the Zacks Consensus Estimate.
For the full-year 2009, Western Union reported earnings of $1.21 … [visit site to read more]

History Says Lost Decade For Stocks Should Lead To A New Bull Market … But Will It? « Money Morning »

Posted: 03 Feb 2010 01:01 PM PST

In its 1969 song “Spinning Wheel,” the rock group Blood, Sweat & Tears immortalized the phrase “what goes up, must come down.”

I cite this bit of music trivia in an investment story for two reasons: First, the name of the band fairly well describes the conditions attached to the stock market’s historically sad performance over the just-completed decade. Specifically, a lot of blood, sweat and tears - thankfully followed by a tiny bit of healing in the final eight months of … [visit site to read more]

Fleet Sales Drive Autos In January « Zacks Investment Research »

Posted: 03 Feb 2010 01:00 PM PST

Sales in the U.S. auto industry grew 6% to 698,990 vehicles in January, driven by strong fleet sales (sales to rental companies as well as corporate and government houses) and redesigned vehicles in the market. Ford Motor Co. (F) ruled among the U.S. automakers, while Nissan Motors (NSANY) was the only automaker to witness sales growth among its Japanese peers in the nation.
U.S. Automakers
Sales at Ford advanced 26.4% to 116,534 units with a staggering 154% rise in fleet sales. The … [visit site to read more]

JEC Expanding Globally « Zacks Investment Research »

Posted: 03 Feb 2010 12:49 PM PST

Jacobs Engineering Group Inc. (JEC) has received a 2.5 year contract from LyondellBasell to provide engineering services in support of plant changes and small project works at two of its manufacturing sites in The Netherlands. Those manufacturing sites include advanced polyolefins plants at Botlek and Maasvlakte. However, the management did not disclose the contract value. 

Headquartered in Rotterdam, The Netherlands, LyondellBasell is the largest producer and marketer of polypropylene … [visit site to read more]

Praxair Builds Into China « Zacks Investment Research »

Posted: 03 Feb 2010 12:34 PM PST

Praxair China, Chinese arm of Praxair, Inc. (PX) signed a contract with Tangshan Railway Vehicle Co., Ltd., a subsidiary of China Northern Locomotive & Rolling Stock Industry Group (CNR), to supply welding gases used in the production of its newest high-speed train, with a top speed of 350 kilometers per hour. 

Praxair China will supply a laser welding gas mixture, which is used for the manufacture of the vehicle body of the state-of-the-art express train. During project … [visit site to read more]

Forex Trading: EURJPY Forming A Big Up And Down Range Above The 200 Hour Moving Average, But Support Tested « Greg Michalowski »

Posted: 03 Feb 2010 12:23 PM PST

The EURJPY has rallied up today but has consolidated over the last 10 or so hours with a ceiling at the 126.96 area and a floor at 126.46 (see 5 minute chart above). The price is down testing the 126.46 currently. A break below should lead to further selling pressure with a test of the 200 hour MA the next key downside hurdle. That level comes in at 126.33.  If history repeats itself profit taking buyers should look to take profit against a stop below 126.33 level. 

If the level … [visit site to read more]

AT&T U-verse Lures 1M Subs « Zacks Investment Research »

Posted: 03 Feb 2010 12:18 PM PST

AT&T's (T) "U-verse Voice” Voice-over-IP (VoIP) service, which is being delivered over the carrier's fiber-rich IP network, has reportedly reached 1 million customers in aggregate. Ma Bell added 730,000 new customers in 2009 for this popular digital home phone service that is available in 120 markets across 22 states in the US. 

U-verse Voice, which was launched in January 2008, is currently available in every market where AT&T's "U-verse TV” video service is being … [visit site to read more]

The Case For Higher Treasury Yields… And Lower REIT Prices « Daily Reckoning »

Posted: 03 Feb 2010 12:13 PM PST

The prospect of rising Treasury yields will pressure REIT valuations. "Yield instruments" like REITs are priced to yield a "spread" over Treasuries. So prices of yield instruments usually fall when Treasury yields rise. I am anticipating this exact scenario.
I'm a bear on Treasury bonds. Prices should go down and yields should go up as the creditworthiness of the US government deteriorates. Right now, with the 10-year yield at 3.64%, investors are assuming that the future direction of … [visit site to read more]

Video: 02/03 FX Options Report « NYFP »

Posted: 03 Feb 2010 12:11 PM PST

The USD advanced vs. the EUR, GBP, and JPY. Ahead of the January jobs report, the ADP employment change improved to post a loss of 22,000 jobs. … [visit site to read more]

Forex Trading: GBPUSD Continues The Move Down. Trades At The Days Lows « Greg Michalowski »

Posted: 03 Feb 2010 12:09 PM PST

The GBPUSD continues to take on some downward selling pressure falling to the low for the day. The pair has taken out the low from yesterday at the 1.5902 level as well and looks toward the channel trendline support at the 1.5861 area. The pair initially tested the 1.6062 level which was the 50% of the move down from Jan 28th.  The price action took the pair back through the old ceiling at the 1.5977 and the selling intensified. 
The channel has been forming since the January 15th … [visit site to read more]

Emergency Medical Upgraded « Zacks Investment Research »

Posted: 03 Feb 2010 12:03 PM PST

Emergency Medical Services Corp. (EMS) reports fourth-quarter and 2009 results on Feb 11, with the current Zacks Consensus Estimate for the quarter and full year at 63 cents and $2.51 per share, respectively. With respect to recent estimate revisions, one of the 10 analysts covering the stock has raised estimates for the fourth quarter and full year by a penny over the last 30 days. 

Going by the past trend, Emergency Medical has consistently surpassed expectations. Emergency Medical … [visit site to read more]

ETFs Vs. Mutual Funds: No Contest? « Tom Lydon »

Posted: 03 Feb 2010 12:01 PM PST

Exchange traded funds (ETFs) have come a long way. What was once thought to be unthinkable - that ETFs could usurp the mutual funds’ throne - now seems to be a credible threat, at least in the long run.

The ETF industry’s share of total mutual fund assets have jumped from 3.9% in 2005 to 7.2% as of November 2009. In dollar terms, ETFs are inching closer to the $1 trillion mark, writes Kurt Brouwar for MarketWatch.

(Source: Index Universe)

ETFs have been touted as an easy way to … [visit site to read more]

Core Businesses Grows At VeriSign « Zacks Investment Research »

Posted: 03 Feb 2010 11:48 AM PST

VeriSign Inc. (VRSN) reported revenues of $263 million from continuing operations in the fourth quarter of 2009, up 5.6% from a year ago. Core businesses of Naming Services and Authentication Services generated revenues of $262 million, up 2% from the prior quarter and up 5% from the year-ago quarter. 

Naming Services generated revenues of $159 million, up 9% year-over-year. Naming Services ended the quarter with approximately 96.7 million active domain names in the adjusted zone for … [visit site to read more]

Barbie Is Back… And She’s Going Global « Tony D’Altorio »

Posted: 03 Feb 2010 11:39 AM PST

In 1959, Barbie Millicent Roberts made a name for herself at the New York toy fair and five decades later, she's still around; though she goes by just Barbie these days.
It's a name that Mattel (MAT), the world's largest toy maker, quickly turned into a global icon. And while the Barbie brand struggled over the last ten years, it made an obvious turn around as evidenced by the larger company's latest earnings statement, which showed that fourth-quarter profits nearly doubled from the … [visit site to read more]

CNOOC Releases 2010 Outlook « Zacks Investment Research »

Posted: 03 Feb 2010 11:33 AM PST

China's largest offshore oil explorer CNOOC Ltd. (CEO) has released its 2010 business strategy and development plan. The company is highly optimistic about its production growth this year. Based on new projects that will come online, CNOOC expects its net production will increase 22%–27% to 275−290 million barrels of oil equivalent (MMboe). 

To fund this program, CNOOC has raised its capital budget by 29.5% to $7.93 billion for this year over the estimated capital expenditure of … [visit site to read more]

ACE Limited Tops View « Zacks Investment Research »

Posted: 03 Feb 2010 11:18 AM PST

ACE Limited's (ACE) fourth quarter earnings of $2.01 per share were well ahead of the Zacks Consensus Estimate of $1.93. The company posted earnings of $1.86 a share a year earlier. Results were primarily driven by an increase in premiums earned. 

Including net realized gains and losses, ACE  reported a net income of $953 million or $2.81 per share compared with $20 million or 6 cents per share in the year-ago quarter. The company has experienced a significant gain in … [visit site to read more]

It’s Britain’s Fault… And We Want Our Money Back « Investment U »

Posted: 03 Feb 2010 11:14 AM PST

This analysis is from Martin Denholm, Senior Editor, Investment U
If you've ever listened to the uber-annoying Chris Berman recap NFL touchdown plays on ESPN, you're no doubt familiar with his tiresome refrain: "He… could… go… all… the… way."
When I read that Treasury Secretary Timothy Geithner will stop at nothing to get back "every penny of taxpayer assistance to the financial system," I imagined a similar cry of: "We… want… every… penny… back."
Probably not … [visit site to read more]

Formfactor Losses Grow Larger « Zacks Investment Research »

Posted: 03 Feb 2010 11:03 AM PST

Formfactor, Inc.'s fourth quarter earnings beat the Zacks Consensus estimate by $0.03. The share price was down 6.2%, as revenue was way below expectations. 

Revenue 
Revenue of $33.0 million was down 24.6% sequentially and 17.3% year over year, much weaker than the 10% decline forecasted by management. The sequential decline in revenue was due to customers' production dynamics and technology transitions. Some orders from the Dec quarter had previously been pulled into the Sep … [visit site to read more]

Why The Shipping Industry Is Finally Ready To Reverse Course « Money Morning »

Posted: 03 Feb 2010 11:01 AM PST

“Rock bottom” is one of the gloomy cliches recently associated with the shipping industry. The industry’s profitable boom from 2006-2008 was followed by 2009’s dramatic fall in shipping rates and billions of dollars in company losses.

Shipping line operators bled money due to decreased trade, shipyards were flooded with order cancellations, banks tightened up lending regulations, and shipping companies’ stocks plummeted.

But with the global economy on the mend, shipping industry … [visit site to read more]

Treasury Bonds To Cower In Face Of US Debt? « Daily Reckoning »

Posted: 03 Feb 2010 11:00 AM PST

In yesterday's edition of The Daily Reckoning, our resident short-selling specialist, Dan Amoss, explained why he believes REITs – and especially hotel REITs – offer a delectable short-selling opportunity.
Dan returns today to punctuate his bearish analysis of the REIT sector with an equally bearish analysis of Treasury bonds. "I'm a bear on Treasury bonds," Dan says unapologetically. "Prices should go down and yields should go up as the creditworthiness of the US government … [visit site to read more]

BRE Properties’ FFO Plummets « Zacks Investment Research »

Posted: 03 Feb 2010 10:48 AM PST

BRE Properties Inc. (BRE), a real estate investment trust (REIT) that operates apartment communities, has reported a decline in fourth quarter 2009 FFO (fund from operations) to $16.0 million or 29 cents per share compared to $36.1 million or 69 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. For full year 2009, … [visit site to read more]

Wall Street’s Stock Oversights: How To Profit With This Unconventional Investment Strategy « Investment U »

Posted: 03 Feb 2010 10:43 AM PST

Wednesday, February 3, 2010: Issue #1189
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 it 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.
How?
Well, consider this from Cem Demiroglu at Koc University in Turkey, and Michael … [visit site to read more]

Video: Alcoa Gets Upgraded By UBS « NYFP »

Posted: 03 Feb 2010 10:42 AM PST

Despite a price plunge since announcing disappointing year-end results, Alcoa appears to be strengthening. This according to UBS analyst Brian MacArthur who upgrded the company to “buy” from “neutral” Wednesday. … [visit site to read more]

Video: Market Movers: BDK, BCO, RL, MCD, UPS « NYFP »

Posted: 03 Feb 2010 10:41 AM PST

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

JDS Uniphase Beats & Raises « Zacks Investment Research »

Posted: 03 Feb 2010 10:33 AM PST

Yesterday, after market close, JDS Uniphase Corp. (JDSU) declared its second quarter fiscal 2010 financial results. Quarterly net revenue was $342.9 million, down 3% year-over-year. Increase in revenue for both Communications Test & Measurement and Advanced Optical Technologies segment was more than offset by a reduction in revenue for the Communications & Commercial Optical Products segment. However, second quarter revenue of $342.9 million was better than the Zacks Consensus … [visit site to read more]

Video: Positive Data Lifts The Greenback « NYFP »

Posted: 03 Feb 2010 10:32 AM PST

The US dollar surged this session following the release of positive jobs and ISM data. … [visit site to read more]

ISM Services Slightly Positive « Zacks Investment Research »

Posted: 03 Feb 2010 10:24 AM PST

The ISM non-manufacturing, or Services, survey improved to 50.5 in January from 49.8 in December. This was slightly lower than the consensus expectations for a reading of 51.0.
Once again, the ISM data is showing that the Service side of the economy is much weaker than the Manufacturing side. The Service sector is far larger than the Manufacturing sector, but the Service sector survey does not have the same sort of long-term history that the Manufacturing survey has. The table below comes from … [visit site to read more]

Copper: Market Top? « Guy Lerner »

Posted: 03 Feb 2010 10:20 AM PST

Copper, the metal with the Ph. D. in economics, has retreated some 12% over the last 4 weeks. Possible causes include: 1) slowing economic growth; 2) withdrawal of stimulus money worldwide especially in China; 3) supply demand imbalances; and 4) bubble dynamics that has seen excessive speculation in the metal.

Now this article courtesy of Bloomberg and Trader Mark at FundMyMutualFund blog: “Copper Market Set For ‘Catastrophe’, says Threlkeld”. David Threlkeld is president of metals trader … [visit site to read more]

Millipore Tops Estimates « Zacks Investment Research »

Posted: 03 Feb 2010 10:18 AM PST

Millipore Corp. (MIL) reported fourth-quarter earnings per share of $1.00, seven cents above the Zacks Consensus Estimate of $0.93. Fourth quarter earnings increased 5.2% from the year-ago period. Earnings for the full year 2009 came in at $4.00, beating the Zacks Consensus Estimate of $3.94 and the year-ago earnings of $3.59. 

Revenues for the fourth quarter grew 7% to $426 million. Excluding a 5% benefit from changes in foreign currency, Millipore generated organic revenue growth of … [visit site to read more]

Homeowner Defaults: The Inevitable Truth Behind The Mystery « Daily Reckoning »

Posted: 03 Feb 2010 10:14 AM PST

Here's a mystery: Homeowner defaults. Not that there are so many…the mystery is why there are so few…
In Nevada, for example. Two out of three homeowners are underwater…which is hard to do in the desert. Some of them owe hundreds of thousands of dollars on something that doesn't exist anymore – the equity on their houses. Still, most of them continue making mortgage payments. What gives?
It's a case of "asymmetrical ethics," says The New York Times. Lenders don't hesitate a … [visit site to read more]

Forex Trading: EURUSD Pauses Using The 1.3900 Level As Support. Watching 1.3918 And The 100 Hour MA Above « Greg Michalowski »

Posted: 03 Feb 2010 10:08 AM PST

 
The EURUSD has continued to pause at the 1.3900 level (low has stalled at 1.3901 for the last two hourly bars).  Admittedly, the highs have been very modest with the high correction remaining below the 100 hour MA currently at the 1.3934 level (negative bias).  With the narrow range we will continue to watch the  relevant technical levels for support/resistance clues. Breaks above or below should lead to movements in the direction of the move.  
The 1.3918 level … [visit site to read more]

PXD Easily Beats Expectations « Zacks Investment Research »

Posted: 03 Feb 2010 10:03 AM PST

Pioneer Natural Resources Company (PXD) reported its fourth quarter results of 18 cents per share, easily beating the Zacks Consensus Estimate of 5 cents and the year-earlier quarter loss of 15 cents. Including one-time items, earnings were 48 cents per share. 

Pioneer's quarterly earnings topped the Zacks Consensus Estimate significantly. The company's experience of an earnings surprise for the preceding four quarters varies between negative 266.7% and positive 50.0%, with the … [visit site to read more]

Banks Easing Lending Terms, Or Just Credit Crunch Lite? « Bill Conerly »

Posted: 03 Feb 2010 10:01 AM PST

The Federal Reserve’s latest Senior Loan Officer Opinion Survey shows that more banks loosened their credit standards than tightened!  Huh?

OK, it wasn’t a LOT more banks loosening than tightening.  (The chart shows the percentage who report that they tightened credit standards, minus the percentage reporting that they eased.)

Do NOT expect to see a flood of bank lending.  The credit standards don’t specify whether there are many businesses that meet the new standards.  2009 … [visit site to read more]

NOV Profit Slips, Still Beats View « Zacks Investment Research »

Posted: 03 Feb 2010 10:00 AM PST

Oilfield service company National-Oilwell Varco (NOV) reported better-than-expected fourth quarter results, helped by robust performance from its Rig Technology segment. Earnings per share, excluding transaction and restructuring charges, came in at 96 cents, well above the Zacks Consensus Estimate of 77 cents.
Estimates Revisions Trend & Outlook
It was the company's fourth consecutive positive earnings surprise. National-Oilwell Varco has performed consistently well during this period … [visit site to read more]

Honda Profits Jump To $1.5 Billion « Zacks Investment Research »

Posted: 03 Feb 2010 09:58 AM PST

Honda Motor Co. (HMC) has posted a profit of ¥134.6 billion ($1.5 billion) for the third quarter of its fiscal ended December 31, 2009, a huge increase of 565.1% from the same period in 2008. This was equivalent to earnings per share of ¥74.19 (81 cents), an increase of ¥63.03 (68 cents) from ¥11.16 (12 cents) for the corresponding period last year.
Consolidated net sales and other operating revenue in the quarter rose 11.5% to ¥2.2 trillion ($24.3 billion). This was attributable to … [visit site to read more]

FDA Approves Auxilium’s Xiaflex « Zacks Investment Research »

Posted: 03 Feb 2010 09:48 AM PST

Auxilium Pharmaceuticals, Inc. (AUXL) recently received a major boost when the U.S. Food and Drug Administration (FDA) granted approval to Xiaflex for the treatment of adult Dupuytren’s contracture patients with a palpable cord. The approval comes several months after an FDA advisory panel voted unanimously in favor of approving the product. Shares were up 9.5% in after-market trading.
 
Dupuytren's contracture is a condition that affects the connective tissue in the palm known as … [visit site to read more]

Shipping ETF (SEA) Off To A Hot Start « Michael Johnston »

Posted: 03 Feb 2010 09:40 AM PST

With barely more than a month in the books, 2010 is shaping up to be a bipolar year for global equity markets. After surging ahead in the first week and a half of January trading, a sharp pullback handed many benchmarks one of their worst monthly performances since the recovery began. But when the calendar turned to February, equities took off again on a mini-rally.
January's big sell-off has left many equity ETFs trying to get back to break-even on the year. Of the 559 non-leveraged, … [visit site to read more]

BNY Mellon Acquires PNC Unit « Zacks Investment Research »

Posted: 03 Feb 2010 09:33 AM PST

Bank of New York Mellon Corp. (BK) announced on Tuesday that it is in the process of buying the global investment servicing unit of PNC Financial Services Group Inc. (PNC) for $2.31 billion.
 
On completion, the deal will help BNY Mellon become the second-largest provider of fund accounting, administration and transfer agency services by adding $855 billion in assets under administration. The transaction will also help PNC partly repay the $7.6 billion in government bailout money it … [visit site to read more]

America Movil Misses Estimates « Zacks Investment Research »

Posted: 03 Feb 2010 09:16 AM PST

Latin American telecom giant America Movil (AMX) reported results for fourth-quarter 2009 with earnings per ADS of 61 cents missing the Zacks Consensus Estimates of 85 cents while falling 13.6% from the year-ago earnings per ADS of 71 cents.
 
Net profit slipped 17.2% year over year to 12.96 billion pesos ($992 million) on account of higher taxes. America Movil, which is controlled by Mexican billionaire Carlos Slim, had a tax expense of 7.46 billion pesos ($572 million) in the quarter … [visit site to read more]

Are Apple Shares Cheap Or Expensive? « Jeffrey Miller »

Posted: 03 Feb 2010 09:01 AM PST

Why is it so hard for individual investors to make winning decisions?

Part of the answer is psychology.  It starts with a simple question.  When is a stock “expensive?”

It often helps to have an example, so let us consider Apple (AAPL).  The average investor thinks in one of the following ways:

Recent move.  Apple has more than doubled in the last year.
Absolute price. Apple trades for $200/share.  It is an expensive stock.
The iPad. Apple’s new product is a gamble.  … [visit site to read more]

Barry Ritholtz On His New Bailout Skyline « Daily Reckoning »

Posted: 03 Feb 2010 09:00 AM PST

Today we offer thanks to Barry Ritholtz for sharing his views… literally. He's moved into a new office in Manhattan where he can look out at the city in almost every direction.
From The Big Picture blog:
"Over the past few weeks, I have walked through the space with real estate people, contractors, building reps, etc., and noticed something rather amusing: Out of every single office, I could see the offices of at least one major bailout recipient — some offices, I could see … [visit site to read more]

Massey Energy Standing Firm « Zacks Investment Research »

Posted: 03 Feb 2010 08:59 AM PST

Massey Energy Co. (MEE) − the largest coal company in Central Appalachia, Virginia – announced fourth-quarter earnings of 28 cents per share, in line with the Zacks Consensus Estimate. In fiscal 2009, the company felt the impact of falling energy demand precipitated by a weak global economy. As part of its restructuring effort, the company re-negotiated supply contracts as well as slashed personnel costs through retrenchment and salary cuts. Massey Energy also focused its production … [visit site to read more]

Time Warner Tops Zacks Estimate « Zacks Investment Research »

Posted: 03 Feb 2010 08:42 AM PST

Time Warner Inc. (TWX) reported better-than-expected fourth-quarter 2009 results that topped the Zacks Consensus Estimate, on the heels of record profits at its Studio and Networks segments.
The quarterly earnings of 55 cents a share surpassed the Zacks Consensus Estimate of 52 cents. In the prior-year quarter, the company had reported earnings of 19 cents a share. On a reported basis, including one-time items, quarterly earnings came in at 53 cents a share compared to a loss of $13.41 posted … [visit site to read more]

Fiserv Reports In-line « Zacks Investment Research »

Posted: 03 Feb 2010 08:41 AM PST

Fiserv Inc. (FISV) reported revenues of $1.06 billion in the fourth quarter of 2009, up 1.9% from a year ago.

Fiserv assists financial institutions and health plan administrators in managing their information systems so that they can efficiently deliver services to their customers.

The company operates in two business segments – Financial Institution Services, and Payments and Industry Products. Financial Services generated $497 million of revenues in the quarter, up 1.4% from a year ago. … [visit site to read more]

MetLife Beats By A Penny « Zacks Investment Research »

Posted: 03 Feb 2010 08:22 AM PST

MetLife Inc.'s (MET) fourth quarter adjusted operating earnings (excluding after-tax net investment gains and losses) came in at $793 million or 96 cents, compared to $132 million or 17 cents in the year-ago quarter. Results were only a penny ahead of the Zacks Consensus Estimate of 95 cents. Reported net income was $289 million compared to a net income of $954 million in the prior-year quarter.
 
The upside was primarily due to a strong growth in the US business segment, higher … [visit site to read more]

Treasury Auction Announcement Looms « OptionsXpress »

Posted: 03 Feb 2010 08:17 AM PST

Fundamentals
T-Note futures are lower this morning, ahead of the US government’s announcement regarding how much debt it plans to sell in the upcoming treasury auctions. The yield of the 10-Year note remains near the lowest levels of the year, unable to make a push lower. The employment data set to come out over the next three days will have a huge bearing on the near-term market direction. Last month’s non-farm payrolls report hinted that the recovery in the job market may not be as strong as … [visit site to read more]

January ETF Data: Industry Springs A Leak « Michael Johnston »

Posted: 03 Feb 2010 08:01 AM PST

Usually the monthly release of ETF trading data from the National Stock Exchange provides a good opportunity for those covering the industry to feed the hype machine just a little more. Big asset growth and cash inflows have become as certain as death and taxes, with each month adding momentum to the runaway freight train that is the ETF industry.
So it's likely that many are doing a double take while examining the January numbers. The train may not have derailed last month, but it lost quite … [visit site to read more]

Maxim Reports Robust Results « Zacks Investment Research »

Posted: 03 Feb 2010 08:01 AM PST

Maxim Integrated Products Inc.'s (MXIM) second quarter earnings beat the Zacks Consensus Estimate by 6 cents. Two of its close competitors, Linear Technology Corp (LLTC) and Intersil Corp, also beat the Zacks Consensus by a wide margin. We expect Semtech Corp (SMTC) to report likewise.
 
Revenue
 
Revenue of $473.5 million was up 5.4% sequentially and 15.3% year over year. This was the first year-over-year increase in seven quarters. Revenue was over the high-end of … [visit site to read more]

Greek Debt Won’t Kill The Euro « Daily Reckoning »

Posted: 03 Feb 2010 08:00 AM PST

The euro (EUR) moved back above the $1.40 handle overnight after it was announced the EU would back Greece's plans to cut its budget deficit. European Commission President Jose Barroso said the EU is endorsing the Greek program and relayed confidence in the Greek authorities. The move came after the Greek government announced more measures to reduce the shortfall. The EU will demand monthly updates from Greece on its progress in cutting their deficit from the current 12.7% of GDP down to the … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: TWX, PFE, BDK « NYFP »

Posted: 03 Feb 2010 07:52 AM PST

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

Siemens Exceeds Estimates « Zacks Investment Research »

Posted: 03 Feb 2010 07:41 AM PST

Siemens AG (SI) reported first quarter of 2010 earnings per share from continuing operations of €1.70 ($2.51), exceeding the Zacks Consensus Estimate of $1.44.

First-quarter revenue of €17.352 billion ($25.6 billion) was down 12% (8% organic) compared to the prior-year period, yet exceptional execution and a favorable revenue mix helped lift Total Sectors profit 11%, to €2.255 billion.

Orders of €18.976 billion ($28 billion) came in 15% lower than the prior-year period (11% … [visit site to read more]

Forex Trading: EURUSD Breaks The 1.3938 Level And Pushes Its Way Lower « Greg Michalowski »

Posted: 03 Feb 2010 07:40 AM PST

The 1.3938 level was a level we were watching this morning. It corresponded with the 100 hour MA level and is also the 50% retracement level of the move up this week .  The break has led to some selling in the pair with the market looking to toest the 1.3900 level.  Below the level is support at the 1.3885 level which was the low from yesterday.
The upside should find sellers against the 1.3938/39 area.  A move above this level would turn the bias back positivef or the … [visit site to read more]

Video: Markets Rebound In Asia « NYFP »

Posted: 03 Feb 2010 07:26 AM PST

Following mixed results yesterday, the major Asian/Pacific markets all rebounded this session by posting huge gains. … [visit site to read more]

Forex Trading: USDJPY Pushes Above 90.90 Resistance. « Greg Michalowski »

Posted: 03 Feb 2010 07:24 AM PST

The break above 90.90 should lead to further momentum to the upside.   There is not much resistance to the upside with 91.17 and 91.45 the next upside targets (see chart above).  Look for support at 90.80-86 now. A move below this level would be a concern for the bulls and should lead to lower … [visit site to read more]

Entergy Beats Zacks Consensus « Zacks Investment Research »

Posted: 03 Feb 2010 07:23 AM PST

Entergy Corporation (ETR) reported strong earnings per share (EPS) of $1.75 in the fourth quarter of fiscal 2009, soundly beating both the Zacks Consensus Estimate of $1.64 and the year-ago quarterly EPS of 99 cents. The upside came from lower taxes and lower operational costs.
 
Of the 15 analysts covering the stock, 7 have upped their estimates for fiscal 2010, along with two positive revisions over the last 7 days. Currently the Zacks Consensus Estimate for 2010 is $6.46, which is a … [visit site to read more]

ADP Sees Jobs Drop 22,000 « Zacks Investment Research »

Posted: 03 Feb 2010 07:21 AM PST

The nation's largest payroll processor, Automatic Data Processing (ADP) reported today that the country lost 22,000 private sector jobs in January. That is slightly better than the consensus expectation of a 30,000 job drop.

This is the most important preview of the big "official” jobs report from the BLS due out on Friday morning. While in the past, the ADP numbers and the BLS numbers have not always seen eye to eye, in December the ADP numbers were spot on — with an original estimate … [visit site to read more]

Forex Trading: EURUSD Moves Down And Approached The 100 Hour MA Now « Greg Michalowski »

Posted: 03 Feb 2010 05:56 AM PST

The 1.3938 level is the 100 hour MA. The market is approaching this level and should find low risk buyers against the level-  at least initially.  Earlier today the market moved up and tested the 200 hour MA (green line in the chart above) and held. 
The failure above at the 200 hour moving average, moved the price back between the " goal posts" as defined by the 100 and 200 bar MA (blue and green line in the chart above). On a failure to extend above the 200 hour MA, … [visit site to read more]

Economic Crisis - When This Crisis Will End « DailyWealth »

Posted: 03 Feb 2010 05:00 AM PST

By Dr. Steve Sjuggerud

We’re out of the woods with this financial crisis…

That’s my best guess at least, based on a study of the major financial crises through history.

The recent book This Time is Different: Eight Centuries of Financial Folly, by Kenneth Rogoff and Carmen Reinhart, takes a look at the history of major financial crises…

Boiling the book down to its simplest conclusions, here’s what happens after a banking crisis:

Home prices and stock prices collapse dramatically over … [visit site to read more]

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 1 « Ise Options »

Posted: 03 Feb 2010 06:31 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 2 « Ise Options »

Posted: 03 Feb 2010 06:30 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 3 « Ise Options »

Posted: 03 Feb 2010 06:29 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 4 « Ise Options »

Posted: 03 Feb 2010 06:28 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 5 « Ise Options »

Posted: 03 Feb 2010 06:27 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 6 « Ise Options »

Posted: 03 Feb 2010 06:26 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 7 « Ise Options »

Posted: 03 Feb 2010 06:25 AM PST

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

Steve Meizinger On “Back To Basics: Which FX Options Strike Price To Trade? - Part II” Part 8 « Ise Options »

Posted: 03 Feb 2010 06:24 AM PST

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

John Person On “How Seasonality Impacts Currency Options” Part 1 « Ise Options »

Posted: 03 Feb 2010 06:23 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 2 « Ise Options »

Posted: 03 Feb 2010 06:22 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 3 « Ise Options »

Posted: 03 Feb 2010 06:21 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 4 « Ise Options »

Posted: 03 Feb 2010 06:20 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 5 « Ise Options »

Posted: 03 Feb 2010 06:19 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 6 « Ise Options »

Posted: 03 Feb 2010 06:18 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 7 « Ise Options »

Posted: 03 Feb 2010 06:17 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

John Person On “How Seasonality Impacts Currency Options” Part 8 « Ise Options »

Posted: 03 Feb 2010 06:16 AM PST

Join John Person, a professional trader and author of several popular trading books, as he shares his unique time tested techniques. … [visit site to read more]

Analyst Interviews: U.S. Banks Stock Update « Zacks Investment Research »

Posted: 02 Feb 2010 09:00 PM PST

After enduring extraordinary shocks in 2008, the U.S. banks entered an exceptional state of turmoil in 2009. Starting as a credit issue in the subprime segment of the mortgage market, the sticky situation infected almost the entire financial services industry, and all corners of the globe. In other words, the financial crisis ultimately morphed into a massive economic crisis, which has had major ramifications across the whole world.
Entering 2010, although the banking industry is dealing with … [visit site to read more]

Singapore Stock Market Update For Wednesday 03 February « Vivien Chia »

Posted: 02 Feb 2010 05:28 PM PST

Morning Highlights
Singapore Stocks advanced on the back of a higher close on Wall Street overnight, with the STI open up 16.53 points at 2737.40. High chance that our market will hold above 2700 for today, hence, we would likely not to be doing any shorting even if the stocks were to breakout today. The Quick Picks remain as a reference.

Sin Heng open at 0.335 (New Trade Opportunity: To Buy at 0.355, Stop Loss at 0.325 and Take Profit at 0.385)

Market is seen retracing after … [visit site to read more]

Daily ETF Roundup: RWX, DBC Surge « Michael Johnston »

Posted: 02 Feb 2010 02:11 PM PST

The showdown over the future of the financial industry continued in Washington on Tuesday, as former Federal Reserve Chairman Paul Volcker continued to push for restrictions on commercial banks engaging in proprietary trading and private investing activity. Earnings reports continued to give domestic equity markets a boost, as did favorable news for the U.S. auto industry out of Detroit: Ford and GM posted sales increases of 25% and 14%, respectively, in January. Toyota results were hammered by … [visit site to read more]
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