Mar 1, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

How To Profit From The Next Spike In Oil Prices

Posted: 01 Mar 2010 11:45 AM PST

Earlier this week, British company Desire PLC (DSPMF.PK) began drilling in an offshore block of the Falkland Islands. Immediately, Argentina President Cristina Fernandez de Kirchner let loose with a howl of rage, and the Summit of Latin American and Caribbean Unity issued a protest against the British company’s drilling operations.

Argentina’s claim to the Falklands had remained dormant since the war 28 years ago, yet the moment the drill bit touched seabed the years rolled away. This … [visit site to read more]


Good News For Salix

Posted: 01 Mar 2010 11:14 AM PST

Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) received good news recently when the Food and Drug Administration’s (FDA) Gastrointestinal Drugs Advisory Committee recommended the approval of Xifaxan (500 mg) for the maintenance of remission of hepatic encephalopathy (HE).
Xifaxan is currently the primary growth driver at Salix following the entry of generic versions of Colazal in December 2007. Xifaxan (200 mg) is indicated for the treatment of patients 12 years of age and older with traveler’s diarrhea … [visit site to read more]

Forex Trading: EURGBP In A Rollercoaster Ride Today And Is A Big Influence On The EURUSD And GBPUSD

Posted: 01 Mar 2010 11:13 AM PST

The EURGBP has had a wild day today - first rallying strongly on the back of the GBPUSD poll results and the merger news from Pru PLC and AIG Asia.  In NY the market reversed as London was set to leave for the day for no apparent reason.  The fall sent the low to 200 bar MA on the 5 minute chart and after holding for a whild in the NY afternoon has started to rise once again.  The upside resistance will come at the 100 bar MA at the 0.9052 level.    
The … [visit site to read more]

LSI Upgrades Processor

Posted: 01 Mar 2010 10:59 AM PST

LSI Corporation (NYSE:LSI) recently announced its next-generation link communication processor (LCP) designed to allow migration of network traffic to IP-based networks.
An asymmetrical multicore system on a chip (SoC), the new LCP is based on the highly-successful LSI link layer processor. It supports all major protocols, enabling wireless, mobile backhaul, multiservice and router; it also enables broadband access traffic to be easily and efficiently migrated from current-generation networks to … [visit site to read more]

Forex Trading: USDCAD Stalling At The 1.0405-15 Area, But Just Stalls.

Posted: 01 Mar 2010 10:53 AM PST

The USDCAD has been moving down steadily on the back of the better than expected 4th quarter GDP released earlier today (see prior post).  The move down has stalled at the 1.0412 level, in between the 1.0405-15 level target level outline earlier today.  This is the support level where the USDCAD has found buying/selling interest going back to October 2009 on the daily chart (see chart above).
The price has slowed at the level but not been able to bounce really hard leaving open … [visit site to read more]

Ford To Cut Shifts At Michigan Plant

Posted: 01 Mar 2010 10:43 AM PST

Ford Motor Co. (NYSE:F) plans to eliminate second production shifts at its Flat Rock, Michigan plant in July this year, downsizing 900 workers. The plant, called Auto Alliance, is jointly operated with Japan's Mazda Motor Corp. It manufactures Ford Mustang and the Mazda 6 sedans. Last year, demand for both these models fell significantly (Mustang – 27%, Mazda 6 - 34%).
The current 2,300 workers at the Flat Rock plant produced about 102,000 vehicles in 2009. The workers, represented by the … [visit site to read more]

Building Wealth: The First Step Toward Gaining Your Financial Independence

Posted: 01 Mar 2010 10:31 AM PST

Monday, March 1, 2010: Issue #1206
My staff often forwards me letters from readers with the same general complaint about building wealth:
"You give me all these great investment ideas, but where do I get the money to invest in them?"
Ah, there's the rub. It reminds me of the time a television interviewer asked Chinese billionaire Li Ka-shing to share "the secret of great wealth."
"Great wealth, very easy," he said in broken English with a toothy grin. Then frowning and shaking his … [visit site to read more]

Manufacturing Dips But Still Strong

Posted: 01 Mar 2010 10:20 AM PST

The Institute for Supply Management's (ISM) manufacturing survey slipped to a reading of 56.5 from 58.4 in January, a drop of 1.9 points and below the 58.0 reading that was expected. However, anything over 50 indicates that the manufacturing economy is expanding, so this is still a very strong reading, just less strong than in January. It is also a huge improvement over the rates we were seeing a year ago.
As the graph below shows, the ISM is a good coincident indicator of the economy, … [visit site to read more]

February ETF Roundup: Launches, Filings, And Closures

Posted: 01 Mar 2010 10:09 AM PST

The ETF industry came flying out of the gates in January with more than two dozen new product launches and several more new product filings. Although the pace slowed a bit in February, the ETF universe continues to expand at an impressive rate, keeping 2010 on track to be the most active in the history of the industry.
New ETFs
Highlights from the ETF industry in February include:

Encouraged by the success of its first two products, PIMCO launched its third actively-managed bond ETF, the Short … [visit site to read more]

Video: Sterling Pound Takes A Pounding

Posted: 01 Mar 2010 10:08 AM PST

The British pound continued to falter throughout the session following growing beliefs that Great Britain may soon be ruled by a minority party for the first time since 1974. … [visit site to read more]

Video: Market Movers: AIG, MIL, MXB, PUK, ANF

Posted: 01 Mar 2010 10:07 AM PST

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

Approval For Gilead’s Cayston

Posted: 01 Mar 2010 10:05 AM PST

In a positive development, Gilead Sciences (NASDAQ:GILD) received long-awaited US Food and Drug Administration (FDA) approval for Cayston (aztreonam for inhalation solution). The drug is indicated for the treatment of lung infection caused by Pseudomonas aeruginosa (P. aeruginosa) in patients with cystic fibrosis (CF).
Cayston, to be administered in dosages of 75 mg thrice daily over a 28-day period through the Altera Nebulizer System, will be available in the U.S. shortly at certain specialty … [visit site to read more]

Rowan Beats Zacks Estimate

Posted: 01 Mar 2010 09:48 AM PST

Rowan Companies Inc. (NYSE:RDC) reported better-than-expected fourth quarter 2009 results. Quarterly earnings were 52 cents per share versus the Zacks Consensus Estimate of 50 cents and year-earlier earnings of $1.28. Revenue for the quarter was $399.8 million, down approximately 35% year over year.
Though the earnings came in above expectations on the back of an increase in the U.S. land rig and worldwide jackup activity as well as lower operating costs, the year-over-year negative comparison was … [visit site to read more]

How Will A Fed Fund Rate Hike Impact Equities?

Posted: 01 Mar 2010 09:45 AM PST

One of the major questions facing investors is how the US equity market will react if the Federal Reserve decides to tighten monetary policy by hiking the Fed fund rate, i.e. when the “juice” that propelled many strong advances in risky assets over the past few months is removed.
Fed Chairman Ben Bernanke provided some support for stock markets on Wednesday by indicating in his testimony to the US House Financial Services Committee that the Fed fund rate will remain at exceptionally low … [visit site to read more]

India Reschedules 3G Auction

Posted: 01 Mar 2010 09:32 AM PST

Good news for 3G hopefuls in India as the country's much-delayed 3G spectrum (radio airwaves) auction is finally set to be held in April 2010 after 4 postponements. The 3G WCDMA spectrum auction was recently deferred to August-September 2010 due to lack of available spectrum.
 
India's Department of Telecommunications ("DoT”) has been in a prolonged negotiation with the country's Ministry of Defence as India's armed forces had to vacate specific 3G spectrum required for the … [visit site to read more]

Forex Trading: AUDUSD Testing Intraday High For The 3rd Time

Posted: 01 Mar 2010 09:19 AM PST

Watching the triple top in the AUDUSD at the 0.9007 level.  A break above should lead to a surge higher with 0.9030 area the next target. The high from last week at 0.9070 becomes another target within site.
On the downside, the price bounced off the 50% of the consolidative range at the 0.8935 level earlier. This is positive and the price is above the 200 hour MA at the 0.8951 level (green line) which is also a positive development today. 
As a result, if the 0.9007 level … [visit site to read more]
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