Mar 11, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Gold Is Overbought Near-Term

Posted: 11 Mar 2010 07:50 AM PST

Last August I wrote a piece for 321 Gold about preparing for a monster rally up in Gold and Gold stocks.  At the time, Gold was hovering around $900 an ounce and I was looking for $1225-$1250 ranges in a “C” wave up.   Gold had consolidated into a “Triangle” pattern according to my views, and therefore it was evident a breakout could occur at anytime.  The HUI index roared ahead into early December and Gold rose to about $1,220 US and peaked out.  That was the end of the C wave rally … [visit site to read more]


A Bitter Taste

Posted: 11 Mar 2010 07:17 AM PST

Fundamentals
Sugar prices continue to tumble on expectations that Indian output will be higher than previously expected. The bearish supply news comes on the heels of Indian buyers backing out of import deals, which has quickly cast a dark cloud over the Sugar market. The country is said to be adequately supplied at the moment and will not require imports at this time, which could result in a glut of supply on the market. The improved crop yields in India have the potential to increase output … [visit site to read more]

Initiating Angeion At Outperform

Posted: 11 Mar 2010 07:09 AM PST

We are initiating coverage of Angeion Corporation (NASDAQ:ANGN) with an Outperform rating and a near-term price target of $6.00. The company has struggled to post positive net income since 2007 as a result of declines in revenue due to the conclusion of a major clinical research trial in 2008 and a significant slide in hospital capital expenditures in the weak economy.

Despite this, over the same period Angeion has generated positive free cash flow, increased gross margins, fortified their … [visit site to read more]

Mutual Funds: Top 5 Pacific Funds

Posted: 11 Mar 2010 07:06 AM PST

The Pacific Basin countries constitute one of the world's most diverse and economically vibrant regions. Among its inherent strengths are considerable technological capabilities and a growing pool of savings. Prominent centers of production and fast growing potential markets in this part of the world also ensure that it is an exciting investment destination. With a high degree of diversification between developed and developing markets, mutual funds from this sector present a healthy mix of … [visit site to read more]

Cogo Group Matches Estimates

Posted: 11 Mar 2010 07:04 AM PST

COGO Group Inc (NASDAQ:COGO) reported fourth quarter of 2009 earnings per share from continuing operations of 13 cents, matching the Zacks Consensus Estimate. Cogo posted revenue of $88.1 million, up 7% year-over-year and up 7.4% sequentially compared to the prior quarter.

In the fourth quarter, its industrial business represented nearly 16% of total business. This segment grew roughly 100% year-over-year and increased about 25% quarter-over-quarter. Digital media made up about 28% of total … [visit site to read more]

Schlumberger Buys Nexus Geo

Posted: 11 Mar 2010 07:00 AM PST

The oilfield services giant Schlumberger Ltd. (NYSE:SLB) has acquired Nexus Geosciences, Inc, a Houston-based provider of integrated seismic software and services for rapid imaging, modeling and interpretation.
 
Though the company has not provided any numbers regarding the deal, Nexus will be grouped under Schlumberger's WesternGeco segment. WesternGeco provides worldwide reservoir imaging, monitoring, and development services and owns the world's largest multi-client seismic … [visit site to read more]

USDJPY: It Isn’t Correlated

Posted: 11 Mar 2010 06:56 AM PST

While the excitement of the media has been focused on equities, other corners of the markets go unnoticed. One such asset is the USDJPY cross rate. From my perspective, the USDJPY is on the cusp of a secular trend change.

I previously reviewed the technical and fundamental picture for the USDJPY. Fundamentally, the Yen should be vulnerable as chronic deficit spending and changing demographics of its population should result in higher interest rates and/or a weaker Yen. These dynamics are best … [visit site to read more]

Fortune Sells Cobra Golf To Puma

Posted: 11 Mar 2010 06:45 AM PST

Fortune Brands Inc. (NYSE:FO), a leading consumer brands company, recently sold its Cobra golf brand, including its related inventory, intellectual property, and endorsement contracts to Puma AG, a German multinational company that produces high-end athletic shoes, lifestyle footwear and other sportswear.
 
With the sale, Fortune Brands intends to concentrate its golf business on its leading brands – Titleist and FootJoy. While Titleist is the numero uno ball in golf, FootJoy is the … [visit site to read more]

Forex Trading: USD/CAD Pushes Hard Into The Goalposts

Posted: 11 Mar 2010 06:44 AM PST

A burst of activity in the USD/CAD has pushed the pair hard up into the Goalposts, causing the pair to surge above the 100 hour MA (blue line) all the way to 1.0315 (200 Hour MA, green line) as seen in the 1 Hour chart.

Moving to the 5 Min chart the pair has backed down to the 38.2% retracement as the market prepares for its next move. The pair will at least need to break and hold above the 200 Hour moving average at 1.0315 to give signs of a continued move higher. The next target on the … [visit site to read more]

Sasol Net Sags On Fuel Prices, Rand

Posted: 11 Mar 2010 06:30 AM PST

Sasol Ltd. (NYSE:SSL) announced weak results for the six months ended Dec 31, 2009, hurt by lower fuel and chemical prices on the back of falling demand, together with an unfavorable exchange rate.
The South Africa-based petrochemicals group reported headline earnings per share, excluding one-time items, of R11.26 ($1.53), down significantly from R21.54 ($2.03) earned during the corresponding period last year. Operating profit declined more than 51% to R10.5 billion.
 
South African Energy … [visit site to read more]

Swiss Franc: The Upside Prevails

Posted: 11 Mar 2010 06:19 AM PST

Update on supports and resistances. … [visit site to read more]

Australian Dollar: Rebound Expected

Posted: 11 Mar 2010 06:19 AM PST

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Rebound In Sight

Posted: 11 Mar 2010 06:18 AM PST

Update on supports and resistances. … [visit site to read more]

Japanese Yen: Rebound

Posted: 11 Mar 2010 06:18 AM PST

Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails

Posted: 11 Mar 2010 06:18 AM PST

Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails

Posted: 11 Mar 2010 06:18 AM PST

Update on supports and resistances. … [visit site to read more]

Stock Market News Briefs: Airgas, Inc., BP P.l.c., Devon Energy Corporation, Dr Pepper Snapple Group, Inc, Goldman Sachs Group, Inc. (The), Hershey Foods Corporation, Jefferies Group, Inc., Piper Jaffray Companies, Smithfield Foods, Inc., Sunoco, Inc., UBS AG, United Technologies Corporation, EBay Inc.

Posted: 11 Mar 2010 06:18 AM PST

 BP (NYSE:BP) plans to pay Devon Energy (NYSE:DVN) $7 billion for assets in Brazil, the Gulf of Mexico and Azerbaijan

 United Technologies (NYSE:UTX) announced that its board authorized buying back up to 60 million shares of its common stock, worth $3.4 billion at current levels

 Goldman Sachs (NYSE:GS) removed Sunoco (NYSE:SUN) and Hershey (NYSE:HSY) from its Conviction Sell List

 Smithfield Foods (NYSE:SFD) posted better-than-expected fiscal third quarter earnings of 22 cents, topping … [visit site to read more]

Reinsurers Estimate Prelim Losses

Posted: 11 Mar 2010 06:15 AM PST

This week, reinsurers such as Everest Re Group Ltd. (NYSE:RE) and PartnerRe Ltd. (NYSE:PRE) have provided their preliminary loss estimates from the earthquake in Chile and the European Windstorm Xynthia.
 
Yesterday, Everest Re announced that it expects to incur $225 million of losses for the earthquake in Chile. The 8.8 magnitude earthquake that occurred off the coast of the Maule Region of Chile on Feb 27 has left over 497 fatal victims and hundreds missing. Current industry loss estimates … [visit site to read more]

The Proposed Creation Of A European Bailout Fund - A Bad Idea

Posted: 11 Mar 2010 06:09 AM PST

Has bailout mania finally reached Europe?

The 16 nations that make up the Eurozone are seriously exploring the creation of a “European Monetary Fund,” a bailout fund that would help euro-member countries that can’t pay their debts.

This has the potential to be a pretty good idea. If structured correctly, the EMF could provide the discipline and stability that the euro needs.

However, I’m not holding my breath: Given the EU’s track record, the EMF bailout plan will most likely evolve … [visit site to read more]

Conexant Offering Over-Alloted

Posted: 11 Mar 2010 06:00 AM PST

Conexant Systems, Inc. (NASDAQ:CNXT) announced that the underwriters of its recent public offering have exercised their over-allotment option to purchase an additional 2.1 million shares of common stock.
Last week, Conexant announced a comprehensive refinancing plan designed to improve its balance sheet and address its liquidity needs.
The company recently issued 14.0 million shares of its common stock at $4.00 each. Including the over-allotment, a total number of 16.1 million shares were issued. … [visit site to read more]

Stock Picks For Thursday 11 March

Posted: 11 Mar 2010 05:49 AM PST

Speculative plays

(NASDAQ:DRYS) - Dryships could be a takeover target according to many analysts. Chart looks bullish in short-term. Heavy call activity on DRYS again on Wednesday.

(NASDAQ:OSIR) - Osiris had a great day on Wednesday. $8 is the next resistance level.

(NASDAQ:MDVN) - Stock price rebound at a level higher than the most recent low, breaking above some resistance with volume significantly increasing.

(HEB) had also a great day on Wednesday. $0.81 is the next resistance level … [visit site to read more]

Hot Topic Quarterly EPS In Line

Posted: 11 Mar 2010 05:45 AM PST

Hot Topic Inc. (NASDAQ:HOTT), a shopping mall-based specialty retailer, reported fiscal 2009 fourth quarter earnings of $8.0 million or $0.18 per share, compared to $14.2 million or $0.32 in the year-earlier quarter.
For fiscal 2009, the company reported a net income of $11.9 million or $0.27 per share compared to $19.7 million or $0.45 in the previous fiscal. While the quarterly earnings were in line with the Zacks Consensus Estimate, the fiscal earnings missed the same by a penny.
 
Total … [visit site to read more]

Collective Brands Tops Estimates

Posted: 11 Mar 2010 05:30 AM PST

Collective Brands, Inc. (NYSE:PSS), the wholesaler and retailer of footwear and related accessories, recently posted fourth-quarter 2009 results that topped the Zacks expectation on the heels of a strong gross margin.
 
The company reported a quarterly net loss of 18 cents a share that fared far better than the Zacks Consensus estimated net loss of 25 cents, and improved sharply from a loss of 60 cents delivered in the prior-year quarter.
 
Collective Brands earnings surprise history … [visit site to read more]

Forex Trading: EURUSD Bounced Off The 100 Hour Today. Gives Hope For The Bulls.

Posted: 11 Mar 2010 05:24 AM PST

Overnight the EURUSD bounced off the 100 hour MA at the 1.3618 ( the low reached 1.3621). The level also corresponds to the 38.2% retracement of the low to high range that has prevailed over the last 3 weeks  which adds to the significance.  The key level on the topside remains at 1.3691. A break above this level should solicit additional buying interest.  Conversely, a move back below the 1.3621 should solicit selling interest. 
Looking at the 5 minute chart the bias is … [visit site to read more]

Stock Buy: Cracker Barrel Old Country Store

Posted: 10 Mar 2010 09:00 PM PST

Cracker Barrel Old Country Store (NASDAQ:CBRL) recently hit a new 52-week high on the company’s better than expected Q2 results from late February and rising estimates.
Company Description
Cracker Barrel Old Country Store operates 591 breakfast restaurants and retail concepts in the United States. The company was founded in 1969 and has a market cap of $1.03 billion.
Second-Quarter Results
Sales for the quarter were basically flat from last year at $633 million. But earnings came in much better than … [visit site to read more]

Stock Buy: 3M

Posted: 10 Mar 2010 09:00 PM PST

3M Co. (NYSE:MMM) shares are essentially flat year-to-date, but that doesn’t fully refelct the company’s strong performance.
Company Description
3M produces thousands of innovative products for dozens of diverse markets. The company’s core strength is applying its more than 40 distinct technology platforms, often in combination, to a wide array of customer needs.
With $23 billion in annual sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries. 3M operates in six … [visit site to read more]

Bull Of The Day: TRW Automotive (TRW)

Posted: 10 Mar 2010 09:00 PM PST

TRW Automotive Holdings (NYSE:TRW) is well positioned to take advantage of an industry rebound, given its advanced technology portfolio, leading diversification and improved cost structure.
The company’s innovative product portfolio is capable of generating top- and bottom-line growth. It has been successful in its restructuring and cost containment actions to mitigate the impact of the industry-wide downturn, as reflected in the better-than-expected fourth-quarter results.
As such, we are … [visit site to read more]

Bull Of The Day: TRW Automotive (TRW)

Posted: 10 Mar 2010 09:00 PM PST

TRW Automotive Holdings (NYSE:TRW) is well positioned to take advantage of an industry rebound, given its advanced technology portfolio, leading diversification and improved cost structure.
The company’s innovative product portfolio is capable of generating top- and bottom-line growth. It has been successful in its restructuring and cost containment actions to mitigate the impact of the industry-wide downturn, as reflected in the better-than-expected fourth-quarter results.
As such, we are … [visit site to read more]

Stock Buy: Brown Shoe Inc.

Posted: 10 Mar 2010 09:00 PM PST

Brown Shoe Inc. (NYSE:BWS) just topped Wall Street’s estimates, sending shares to 52-week highs.
Company Description
Brown Shoe has more than 1,100 shoe stores world wide and another 300 specialty retail locations. Brands include Dr. Scholl’s, Famous Footwear and others.
Beat the Street
On Mar 3 Brown Shoe beat expectations when it reported an 8.6% increase in sales, to $566 million. Combined with improved margins, the company beat earnings expectations by 4 cents per share.
Earnings per shares … [visit site to read more]

Stock Buy: Brinker International, Inc.

Posted: 10 Mar 2010 09:00 PM PST

Brinker International Inc. (NYSE:EAT) is managing its way through a rocky restaurant environment. The company has surprised on estimates the last 4 quarters by an average of 18.6%.
Company Description
Brinker International operate casual dining restaurants in 27 countries and 2 territories.
The company runs 1,700 restaurants under the brand names of Chili’s, Maggiano’s, On the Border Mexican Grill & Cantina, and has a minority interest in Macaroni Grill.
Zacks Consensus Estimates Rise
Analysts … [visit site to read more]

Bear Of The Day: Novatel Wireless (NVTL)

Posted: 10 Mar 2010 09:00 PM PST

We are downgrading Novatel Wireless (NASDAQ:NVTL) to Underperform following its fourth quarter 2009 financial results, which were significantly below Zacks Consensus Estimates.
Novatel is facing intensifying competition for its core embedded solutions for wireless data access. Although Novatel has developed a niche for its MiFi mobile intelligent hot spot, we foresee increased competition as large firms like Qualcomm, ZTE and Huawei Technologies are on the verge of introducing their own version of … [visit site to read more]
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)