Daily Markets - Financial News And Opinions

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• RadioShack Downed To Neutral
• Markopolos On SEC: “A Bunch Of Idiots”
• Video: Positive Start In Asia
• Great Recession Porn
• Edison Pushes Past Estimate
• Forex Trading: GBPUSD Corrects Up To The 38.2% Of The Days Trading Range
• DISH Network Delivers
• Swiss Franc: Continuation Of The Rebound
• Japanese Yen: Caution
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• Will Buyers Emerge As Sugar Rally Fades?
• MoneyGram Acquires Blue Dolphin
• Textron Acquires Aviation Service
• AIG Could Seek Another Bailout As It Struggles To Return To Profitability
• Public Storage Revenues Plummet
• H&R Block To Miss Guidance
• Forex Trading: GBPUSD Falls Sharply But Rebounds. The 1.4854 Level Key Level On Downside Now
• Forex Trading: EURUSD Breaks Through 200 And 100 Hour MA.Now They Become Resistance
• 2 More Bank Failures, Tally Hits 22
• Alleghany Corporation - Operating Like Berkshire Hathaway
• Video: The Week Ahead
• Stock Buy: Limited Brands
• Bull Of The Day: Health Net, Inc. (HNT)
• Stock Buy: Cimarex Energy Co.
• Stock Buy: Deckers Outdoor Corporation
• Stock Buy: Cirrus Logic
• Bear Of The Day: TiVo, Inc. (TIVO)
• Mutual Funds: Top 5 Global Funds

RadioShack Downed To Neutral Posted: 01 Mar 2010 07:09 AM PST We downgrade our recommendation for RadioShack Corp. (NYSE:RSH) to Neutral, due to our concern regarding future sales potential of the company's non-wireless product categories. RadioShack's fourth quarter 2009 financial results were mostly in line with the Zacks Consensus Estimates. But that was mainly due to significant growth of the wireless businesses. In the fourth quarter, sales of its TV Converter box was just $13.1 million compared to $54.4 million in the year-ago quarter. Accessory … [visit site to read more]

Markopolos On SEC: “A Bunch Of Idiots” Posted: 01 Mar 2010 07:01 AM PST Harry Markopolos has become a household name in the realm of financial regulatory oversight. Harry earned his stripes for his dogged pursuit of the Madoff scam, especially in light of the lack of support from the SEC. Harry characterized the SEC as incompetent during his initial Congressional testimony addressing the Madoff scam early last year. During that testimony, Harry characterized FINRA as “in bed with the industry.” Who in America did not view Harry as a hero for his … [visit site to read more]

Video: Positive Start In Asia Posted: 01 Mar 2010 06:55 AM PST The major Asian/Pacific markets were on the upside to start the new week as Hong Kong’s Hang Seng received quite a boost from China’s banking sector. … [visit site to read more]

Great Recession Porn Posted: 01 Mar 2010 06:47 AM PST Not meant to titillate you, of course… “The Greenspan-Bernanke Legacy” (Technically Speaking, Market Analysis and Theory) “I’m Sure Glad The Recession Ended” (Mish’s Global Economic Trend Analysis) “Growth of Problem Banks (Unofficial)” (Calculated … [visit site to read more]

Edison Pushes Past Estimate Posted: 01 Mar 2010 06:45 AM PST Edison International's (NYSE:EIX) adjusted EPS of 59 cents in the fourth quarter of fiscal 2009 pushed past the Zacks Consensus EPS estimate of 40 cents by 19 cents. However, adjusted EPS for the quarter fell short of the year-ago EPS of 66 cents. The company clocked EPS of $3.25 in fiscal 2009 compared to $3.84 in fiscal 2008 and Zacks Consensus EPS estimate of $3.02. Operational Results Edison International's revenue fell to $3.1 billion in the reported quarter compared to $3.2 billion in … [visit site to read more]

Forex Trading: GBPUSD Corrects Up To The 38.2% Of The Days Trading Range Posted: 01 Mar 2010 06:31 AM PST The 38.2% of the days trading range comes in at the 1.4943 level. I would expect selling against the level.  A break, however, will look toward the 1.4993 level. So key time for the GBPUSD as the stock market gets set to open in the US. On the downside, the price has been rising steadily after moving back above the  1.4854 level (61.8% of the 2009 trading range) This is somewhat positive as the flush out lower seemed to be a huge liquidation of positions.  Look for support at … [visit site to read more]

DISH Network Delivers Posted: 01 Mar 2010 06:23 AM PST DISH Network Corp. (NASDAQ:DISH) declared fourth quarter 2009 financial results. Although the company's fourth quarter earnings slipped 18% year-over-year on higher subscriber-related costs, they topped the Zacks Consensus Estimate. The company reported earnings of $179 million or 40 cents per share, compared to $217 million or 48 cents in the year-ago quarter. Quarterly EPS of 40 cents was significantly above the Zacks Consensus Estimate of 33 cents. Quarterly total revenue increased 1.4% to … [visit site to read more]

Swiss Franc: Continuation Of The Rebound Posted: 01 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: Caution Posted: 01 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 01 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 01 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Will Buyers Emerge As Sugar Rally Fades? Posted: 01 Mar 2010 06:18 AM PST Fundamentals Sugar futures have certainly lost some of their bullish bias this past month, having fallen over 5 cents per pound since the start of the month, as concerns about world economic recovery and buyers beginning to balk at high prices have overshadowed continued tight supplies. The International Sugar Organization expects Sugar output to remain in a deficit for the remainder of the 2009-10 marketing season, with production expected to be below demand by over 5% during the remainder of … [visit site to read more]

MoneyGram Acquires Blue Dolphin Posted: 01 Mar 2010 06:06 AM PST On Feb 26, MoneyGram International Inc. (NYSE:MGI) announced the purchase of Blue Dolphin Financial Services in order to expand its payment services in high-growth potential European markets. The acquisition unlocks growth avenues for MoneyGram by allowing penetration in the Belgium, Netherlands and Luxembourg (Benelux) markets, where Blue Dolphin already operates through 18 centers. However, the terms and value of the deal remain undisclosed. Additionally, the acquisition will allow MoneyGram to … [visit site to read more]

Textron Acquires Aviation Service Posted: 01 Mar 2010 05:47 AM PST Bell Helicopter, a Textron Inc. (NYSE:TXT) company acquired Prague, Czech Republic-based Aviation Service. The acquired company provides modifications and upgrades, avionics and special mission packages. Textron’s acquisition of the European aviation service provider will enhance its presence in Europe. The company will utilize the infrastructure and network of Aviation Service to meet more efficiently the needs of its European customers and to more rapidly provide service support in the … [visit site to read more]

AIG Could Seek Another Bailout As It Struggles To Return To Profitability Posted: 01 Mar 2010 05:45 AM PST American International Group Inc. (NYSE:AIG), the insurance giant that received billions in federal bailout money, on Friday reported an $8.9 billion fourth-quarter loss. AIG dismissed the loss as part of its rebuilding process, but it also acknowledged that it may require even more government financing. The loss is not nearly as bad as the previous year’s $61.7 billion fourth-quarter stumble - the biggest quarterly loss in corporate history - but at $65.51 a share, it’s still much higher … [visit site to read more]

Public Storage Revenues Plummet Posted: 01 Mar 2010 05:22 AM PST Public Storage (NYSE:PSA), a real estate investment trust (REIT) operating self-storage facilities, reported a decline in total revenues for fourth quarter 2009 to $402.9 million, compared to $416.8 million in the year-earlier quarter. For full year 2009, total revenues were $1.6 billion compared to $1.7 billion in the previous year. The year-over-year decrease in revenue was primarily due to a reduction in realized rent per square foot. During the quarter, FFO (fund from operations) was $1.27 … [visit site to read more]

H&R Block To Miss Guidance Posted: 01 Mar 2010 05:05 AM PST H&R Block Inc. (NYSE:HRB) has recently announced that it would not be able to meet its previously announced fiscal 2010 guidance as it is preparing fewer tax returns than it had previously expected.   As per H&R Block's previous guidance, the company expected to report earnings of $1.60–$1.80 a share from continuing operations. This compares to the Zacks Consensus Estimate of $1.61 per share.   However, following this weaker outlook announcement, we expect a large number of … [visit site to read more]

Forex Trading: GBPUSD Falls Sharply But Rebounds. The 1.4854 Level Key Level On Downside Now Posted: 01 Mar 2010 05:03 AM PST The 1.4854 level is the 61.8% of the 2009 low to high trading range. The price plunge this morning took the price down below this level to a low of 1.4782. The corrective move higher has taken the price back above the key retracement level (1.4854) and as a result, this level will now be eyed as support once again on dips. On the topside look for sellers against the 38.2% of the days high to low trading range.  That level comes in at the 1.4943 level.   This also corresponds … [visit site to read more]

Forex Trading: EURUSD Breaks Through 200 And 100 Hour MA.Now They Become Resistance Posted: 01 Mar 2010 04:49 AM PST The EURUSD fell through the 200 and 100 hour MA, which turns the bias back to the downside for the pair.  The 200 hour MA comes in at 1.3579 and the 100 hour MA comes in at the 1.3558 level. These levels now become resistance for today.   Look for sellers with stops should the price be able to extend back higher.  The bounce back corrective price off the lows extened up to the 1.3561 level but it was only for a very brief moment.  On the downside, the … [visit site to read more]

2 More Bank Failures, Tally Hits 22 Posted: 01 Mar 2010 04:37 AM PST Though the economy is showing signs of a gradual recovery, tumbling home prices, soaring loan defaults and rising unemployment continue to take toll on small banks. As a result, U.S. regulators on Friday shuttered two more banks in Nevada and Washington. This brings the total number of bank failures to 22 so far in 2010, compared to 140 in 2009, 25 in 2008 and 3 in 2007. While we expect economic recovery to gain momentum soon, there remain lingering concerns in the banking industry. Failure of … [visit site to read more]

Alleghany Corporation - Operating Like Berkshire Hathaway Posted: 01 Mar 2010 04:01 AM PST While most eyes have been on Berkshire Hathaway (BRK-A) (BRK-B) lately and rightly so. Their are other companies that operate in a similar fashion to Berkshire one being Alleghany Corp. (NYSE:Y) . Alleghany is one of those companies that fly under the radar. Alleghany is an insurance company that takes the “float” (which is money that doesn’t belong to the company, but are premiums taken in from policy holders and paid out to policy holders). Alleghany’s principal business is insurance, … [visit site to read more]

Video: The Week Ahead Posted: 28 Feb 2010 09:00 PM PST The stories,data, and stocks that may have the greatest impact during the upcoming trading week. … [visit site to read more]

Stock Buy: Limited Brands Posted: 28 Feb 2010 09:00 PM PST Limited Brands (NYSE:LTD) has a Zacks Rank of #1, and analysts estimate that the company will grow its EPS 20.3% in fiscal year 2010. What’s more, Limited Brands has a current dividend yield of 2.8%. Limited Brands recently posted stronger-than-expected fourth-quarter 2009 results. The retailer reported EPS of $1.01 per share, topping the Zacks Consensus Estimate of $0.98. In the last five quarters, the retailer has beaten consensus estimates by an average of 90.6%. Management provided EPS … [visit site to read more]

Bull Of The Day: Health Net, Inc. (HNT) Posted: 28 Feb 2010 09:00 PM PST Health Net’s (NYSE:HNT) fourth quarter earnings per share came in at $0.69, marginally above the Zacks Consensus Estimate of $0.67 and the year-ago earnings of $0.61. Following the sale of its Northeast segment to UnitedHealth, Health Net will be able to concentrate on its core Western markets. We are also encouraged by its recent partnership program with Stanford University to provide health care coverage to its students. While we remain concerned about the decline in membership, we believe a … [visit site to read more]

Stock Buy: Cimarex Energy Co. Posted: 28 Feb 2010 09:00 PM PST Cimarex Energy Co. (NYSE:XEC) recently hit a new 52-week high above $60 on the company’s better than expected Q4 results from Feb 17. Fourth-Quarter Results Oil and gas revenue was up 10% from last year to $313.5 million. Earnings also came in ahead of the mark at $1.19, 24% ahead of the Zacks Consensus Estimate. Cimarex noted that its results were driven by higher oil and gas prices. The company also added that its year-end 2009 proved reserves were up 15% from last year. Estimates Analysts were … [visit site to read more]

Stock Buy: Deckers Outdoor Corporation Posted: 28 Feb 2010 09:00 PM PST Deckers Outdoor Corporation (NASDAQ:DECK) reported record fourth quarter results on Feb 25 that surprised on the Zacks Consensus Estimate by 20.83%. Deckers makes the popular UGG-brand of footwear, along with several other brands. UGGs are still hot as sales jumped 15.7% in the quarter and 22.3% for the year to a record $711.8 million. The UGG segment is Deckers largest brand. The company also saw a 96% increase in international sales to $39.3 million from $20.1 million. To round out the good news, … [visit site to read more]

Stock Buy: Cirrus Logic Posted: 28 Feb 2010 09:00 PM PST Cirrus Logic Inc. (NASDAQ:CRUS)) beat Wall Street’s expectations on a 49% increase in revenue, sending estimates higher. Beat the Street On Jan 28 Cirrus reported quarterly results that included $65.2 billion in revenue, up 49%. Earnings per shares came in at 17 cents, a penny better than expected. The results drove estimate higher. The Zacks Consensus Estimate is 32 cents for fiscal 2010, up 11 cents. Forecasts for next year are averaging 54 cents for this Zacks Rank #2, up from 43 cents. These … [visit site to read more]

Bear Of The Day: TiVo, Inc. (TIVO) Posted: 28 Feb 2010 09:00 PM PST TiVo’s (NASDAQ:TIVO) third-quarter results fell substantially from the prior-year quarter and missed the Zacks Consensus Estimate. Despite an improving spending environment, the company provided lower-than-expected guidance. TiVo faces increasing competition from cable and satellite providers, which is eroding its subscriber base and leading to market share losses. Aggravating the situation is the competitive offerings from Comcast and Cox. Further, TiVo’s long-standing patent infringement dispute … [visit site to read more]

Mutual Funds: Top 5 Global Funds Posted: 26 Feb 2010 10:56 PM PST Investors should not afford to limit themselves to investing only in domestic stocks with a myriad number of attractive opportunities existing in global markets. Moreover, research has consistently shown that investing in a combination of domestic and foreign stocks can produce better returns with less risk than investing in U.S. equity markets alone. Global mutual funds offer a world of opportunities to investors willing to diversify their portfolios to include international investments. Below … [visit site to read more]

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