Daily Markets - Financial News And Opinions

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• Should You Now Buy Shares In Berkshire Hathaway?
• Is The Relationship Between The Stock Market And The Dollar Set To Change?
• Japanese Stocks - Buying The World’s Cheapest Stock Market
• Forex Trading: USDCHF Moves Toward Support Today And Holds
• OSG Beats Loss Estimate
• Isis Loss Widens
• Forex Trading: Traders Waiting On Greece’s New Austerity Package
• Osiris Misses Estimates
• Stock Market News Briefs: Bank Of America Corporation, BJ’s Wholesale Club, Inc., Eaton Corporation, Goldman Sachs Group, Inc. (The), United Parcel Service, Inc., Costco Wholesale Corporation, Joy Global Inc., Netflix, Inc., Staples, Inc.
• Swiss Franc: The Upside Prevails
• Japanese Yen: Caution
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• CIT Expects $900M Loss In Q4
• Wednesday’s Outlook On Gold, Copper, Platinum, Silver
• BofA Consolidates Two Units
• FINRA Immunity Without Transparency = License To Steal
• Forex Trading: EURUSD Breaking Higher Above 1.3654 Resistance Level.
• Calgon’s Profit More Than Doubles
• Forex Trading: USDJPY Watching The 100 Hour MA On The Topside.
• Costco Earnings Rise
• Forex Trading: GBPUSD Moves Toward 100 Hour MA Resistance
• Mutual Funds: Top 5 Fidelity Funds
• Stock Picks For Wednesday 3 March: Allied Irish Banks, GigaMedia Limited
• Forex Trading: EURUSD Can’t Develop Any Momentum Above 1.3654
• Stock Buy: Alcon
• Bull Of The Day: Skyworks Solutions (SWKS)
• Bear Of The Day: Tetra Tech, Inc. (TTEK)
• Stock Buy: Cardtronics, Inc.
• Stock Buy: NBTY Inc.
• Stock Buy: Neenah Paper
• Stock Buy: Ameriprise Financial, Inc.

Should You Now Buy Shares In Berkshire Hathaway? Posted: 03 Mar 2010 07:56 AM PST Let me start off by saying this upfront: When it comes to Warren Buffett, I’m biased. As a student and professional investor, I’ve been schooled in his investment and principles and analytical approach. Following Buffett, I consider myself a value investor who does fundamental analysis to find outstanding companies that are also outstanding (long-term) investments. In times of crisis and opportunity (e.g. the current environment), Warren Buffett gets a lot of attention as his investment … [visit site to read more]

Is The Relationship Between The Stock Market And The Dollar Set To Change? Posted: 03 Mar 2010 07:12 AM PST Over the past year, there have been anecdotal and other reports suggesting that the stock market’s fortunes are tied to those of the U.S. dollar. As it happens, an analysis of the data seems to bear this out. In fact, based on a study of the statistical relationship between the monthly returns of the S&P 500 index and the U.S. Dollar index (using 36-month rolling windows), the two measures are about as negatively correlated as they’ve ever been. In other words, a strengthening dollar has, … [visit site to read more]

Japanese Stocks - Buying The World’s Cheapest Stock Market Posted: 03 Mar 2010 07:06 AM PST By Dr. Steve Sjuggerud There is no greater investment value in the world of stocks today… and possibly in all of history… than small stocks in Country X. Astoundingly, Country X has 200 companies trading on its stock exchange for less than the cash on the books. Said another way, they’re selling for less than FREE. If you could snap your fingers and buy all the shares of one of those companies, you’d have more cash than you spent… and you’d get an entire business for free. Take a look … [visit site to read more]

Forex Trading: USDCHF Moves Toward Support Today And Holds Posted: 03 Mar 2010 07:01 AM PST The USDCHF fell again yesterday falling to the low area  from last week and bounced higher.  The 1.0715 level is other support on lows from the last few weeks on consolidative trading.  The 1.0742 level is a third level to eye this morning as the market tries to decide the currencies fate.   The USDCHF has been correcting off low levels since November as the dollar has gotten better bid. The price has support off the daily chart at the 1.0699 level which is … [visit site to read more]

OSG Beats Loss Estimate Posted: 03 Mar 2010 07:00 AM PST Overseas Shipholding Group, Inc.'s (NYSE:OSG) fourth quarter operating loss per share of 59 cents came in substantially better than the Zacks Consensus Estimate of a loss of $1.21 on lower operating expenses. This excluded 23 cents per share associated with tender settlement, 3 cents related to a negative change in unrealized freight derivative positions and 2 cents for loss of vessel sales.   Results reflected lower operating expenses on rigorous re-engineering efforts and cost control. … [visit site to read more]

Isis Loss Widens Posted: 03 Mar 2010 06:45 AM PST Isis Pharmaceuticals Inc. (NASDAQ:ISIS) reported a net loss of 16 cents per share in the fourth quarter, which was wider than the Zacks Consensus Estimate of a net loss of 11 cents. The company had reported a net loss of 8 cents in the year ago period. The wider-than-expected loss was due to higher operating expenses.   For the full year, the company reported a net loss of 31 cents, well above the net loss of 10 cents reported in 2008. Once again, higher operating expenses accounted for the … [visit site to read more]

Forex Trading: Traders Waiting On Greece’s New Austerity Package Posted: 03 Mar 2010 06:30 AM PST Barring a bombshell from the Greek austerity press conference, we believe markets will stay relatively quiet ahead of the BoE, ECB and Friday’s NFP. In this environment, we will be looking to play the daily ranges. Leaks of the announcement conference have spilled out, with media outlets citing Greek government sources, saying that the government has decided on $6.5 billion in extra austerity measures, decided to raise VAT by 2% to 21%, closing fiscal loopholes, and will be trimming salary … [visit site to read more]

Osiris Misses Estimates Posted: 03 Mar 2010 06:30 AM PST Osiris Therapeutics (NASDAQ:OSIR) reported a net loss of a cent in the fourth quarter of 2009, well below the Zacks Consensus Estimate of a net income of 23 cents per share. However, net loss in the year ago period was higher at 37 cents, mainly due to lower revenues and higher clinical trial expenses.   Revenues in the reported quarter increased to $10.8 million compared to $6.2 million for the same period of the prior year. Osiris generates revenues from collaborative agreements, research … [visit site to read more]

Stock Market News Briefs: Bank Of America Corporation, BJ’s Wholesale Club, Inc., Eaton Corporation, Goldman Sachs Group, Inc. (The), United Parcel Service, Inc., Costco Wholesale Corporation, Joy Global Inc., Netflix, Inc., Staples, Inc. Posted: 03 Mar 2010 06:22 AM PST  Costco (NASDAQ:COST) reported fiscal second quarter earnings of 70 cents a share, one cent below Zacks projections, revenues of $18.36 billion, which also missed Zacks estimates of $18.48 billion  Joy Global (NASDAQ:JOYG) reported better-than-expected earnings of 73 cents, versus Zacks estimates of 64 cents, on revenues of $729.2 million, which beat Zacks estimates of $657 million  BJ’s Wholesale (NYSE:BJ) reported fourth quarter results, which missed by a penny, coming in at 95 cents … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 03 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: Caution Posted: 03 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 03 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 03 Mar 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

CIT Expects $900M Loss In Q4 Posted: 03 Mar 2010 06:15 AM PST Following its emergence from bankruptcy protection in Dec 2009, CIT Group Inc. (NYSE:CIT) said in a regulatory filing with the Securities and Exchange Commission (SEC) on Monday that it expects to report a loss of about $900 million in the fourth quarter and about $4 billion for 2009.   However, the expected fourth quarter and full year numbers exclude the effect of CIT’s massive Chapter 11 reorganization. According to CIT, the full year loss of $4 billion would be offset by the cancellation … [visit site to read more]

Wednesday’s Outlook On Gold, Copper, Platinum, Silver Posted: 03 Mar 2010 06:07 AM PST Copper Today (Wednesday), Copper is lower by about less than 1% in the overseas session. The market opened Asian trading sharply lower and has since recovered gradually. News of the earthquake in Chile boosted the market on both Monday and Tuesday. Chile is the world’s leading copper producer. The reports proclaim that most mines are resuming operations and that activity at the largest ports is back to normal. Ironically, Copper’s strength is being driven by other unidentified … [visit site to read more]

BofA Consolidates Two Units Posted: 03 Mar 2010 06:05 AM PST Bank of America Corp. (NYSE:BAC) said on Tuesday that it is combining the Global Card Services and Deposits under Susan Faulkner. Previously, Ric Struthers had led Global Card Services. But as part of management changes begun in mid-January by Chief Executive Brian Moynihan, Struthers has decided to leave BofA.   Susan Faulkner will run the combined business and report to Joe Price, the former chief financial officer who took over the consumer bank in mid-January. Faulkner's new … [visit site to read more]

FINRA Immunity Without Transparency = License To Steal Posted: 03 Mar 2010 06:02 AM PST Judge Jed Rakoff’s ruling to dismiss the complaint by Standard Investment Chartered v FINRA based on the regulator having absolute immunity generated a consistent response from readers and colleagues. What is the theme of that response? A comment by Bill, a loyal Sense on Cents reader, seems to sum it up best: Interesting that FINRA has the benefit of a quasi governmental entity, i. e. immunity, but not the customary burden of a governmental entity-transparency. Otherwise known as a … [visit site to read more]

Forex Trading: EURUSD Breaking Higher Above 1.3654 Resistance Level. Posted: 03 Mar 2010 05:57 AM PST The EURUSD has broken above th 1.3654 level and extends higher. The next target is 1.3691.  This is the trendline resistance and the high from February 23rd so it represents a key technical level to get through for the bulls.  Support now at … [visit site to read more]

Calgon’s Profit More Than Doubles Posted: 03 Mar 2010 05:55 AM PST Calgon Carbon Corporation (NYSE:CCC), the water and air purifying systems manufacturer, earned profit of 23 cents in the fourth quarter of 2009 compared with 11 cents in the fourth quarter of 2008. Reported earnings surpassed the Zacks Consensus Estimate of 15 cents and the market estimate of 16 cents. Quarterly profit more than doubled on strong demand for air treatment products. For the full year, Calgon earned $39.2 million, or 69 cents per share, on $411.9 million in sales. Revenues in the … [visit site to read more]

Forex Trading: USDJPY Watching The 100 Hour MA On The Topside. Posted: 03 Mar 2010 05:55 AM PST The USDJPY reached a new low overnight for the latest move lower at the 88.46 level. The price has retraced to a high at the 88.98 but is now back down at the prior move low for this consolidation period at the 88.72 level.  The market is at a crossroad.  Does it move back above the decline 100 hour MA, or continue the trend down. The bias remains to the downside for the pair below the 100 hour MA.  Look for sellers on rallies toward the level.  A move back below the  … [visit site to read more]

Costco Earnings Rise Posted: 03 Mar 2010 05:40 AM PST Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted second-quarter 2010 results. The quarterly earnings of 70 cents a share missed the Zacks Consensus Estimate by a penny but rose 27.3% from 55 cents delivered in the prior-year quarter. On a reported basis, including a charge of 3 cents a share, quarterly earnings came in at 67 cents, up 21.8% year-over-year. Costco's quarterly earnings underperformed the Zacks Consensus Estimate by 1.4%. … [visit site to read more]

Forex Trading: GBPUSD Moves Toward 100 Hour MA Resistance Posted: 03 Mar 2010 05:39 AM PST The GBPUSD is moving toward the 100 hour moving average at the 1.5094 level (high today reached 1.5074)  on the back of better than expected PMI Services (to 58.4 from 55.0). Looking at the chart above, the price has closed below the 100 hour MA for all but 1 hourly bar since February 17th. During that time the price has trended down on the back of UK debt worries and recently, the minority government dilemma.  During that time , the price has  moved from 1.5690 to the recent … [visit site to read more]

Mutual Funds: Top 5 Fidelity Funds Posted: 03 Mar 2010 05:20 AM PST Founded over four decades ago, Fidelity Investments is one of the world's largest mutual fund companies. With over $1.57 trillion of assets under management, it offers a wide variety of mutual funds and provides fund distribution, investment advice and discount brokerage services. Among its other operations, it offers retirement services, wealth management, securities execution and clearance and life insurance products. Fidelity bases its investment decisions on rigorous research and believes … [visit site to read more]

Stock Picks For Wednesday 3 March: Allied Irish Banks, GigaMedia Limited Posted: 03 Mar 2010 05:03 AM PST ( click to enlarge ) GigaMedia (NASDAQ:GIGM) The stock closed above its 50-day moving average for the first time since October. GIGM broke resistance with heavy volume. The technical chart shows buyers are back. With the surge today %K line is again on top over %D line showing the stock is back to new rally. A move towards $3.35 can be expected as long as $3 holds. ( click to enlarge ) Allied Irish Banks (NYSE:AIB) - The bank said Today that it swung to a net loss of 2.41 billion … [visit site to read more]

Forex Trading: EURUSD Can’t Develop Any Momentum Above 1.3654 Posted: 03 Mar 2010 04:54 AM PST The EURUSD has had resistance at the 1.3654 coming into the trading day and continues to have resistance at the 1.3654 level. The  high did extend to a intraday high of 1.3670 but it was reversed.  The price is now back down on the comment that Germany would not provide debt aid to Greece despite the austerity measures announced today.  Look for resistance at the 1.3627/32 now.  This is where the 100 and 200 bar MA on the 5 minute chart is found (green and blue line … [visit site to read more]

Stock Buy: Alcon Posted: 02 Mar 2010 09:00 PM PST Alcon (NYSE:ACL) is delivering solid growth across all business segments and pays a dividend yield of 2.3%. Company Description Alcon is one of the world’s leading suppliers of eye care products. The company has three operating segments: Pharmaceutical, which develops glaucoma products, ocular anti-infectives, and ocular allergy products, Surgical, which serves cataract market with its Infiniti vision system and AcrySof intraocular lenses, and Consumer Eye Care, which sells contact lens care … [visit site to read more]

Bull Of The Day: Skyworks Solutions (SWKS) Posted: 02 Mar 2010 09:00 PM PST Skyworks Solutions (NASDAQ:SWKS) is well positioned to benefit from recent trends in the handset market, which are favorable for increasing dollar content for RF components. There is a significant growth opportunity in the handset markets propelled by the launch of 3G networks in China. The company has tie-ins with major OEMs that underscore its success in gaining market share. The company is also making good progress in the linear business with WLAN wins at Intel and Broadcom. Results for the … [visit site to read more]

Bear Of The Day: Tetra Tech, Inc. (TTEK) Posted: 02 Mar 2010 09:00 PM PST We are downgrading our recommendation on Tetra Tech (NASDAQ:TTEK) from Neutral to Underperform with a $19 target price. The company believes that back-end construction management services will weaken in the second quarter and remain soft in the remainder of FY2010, driven primarily by the commercial market downturn and the continued slow pace of stimulus spending. Due to the forecasted reduction, the company has lowered revenue and earnings guidance for FY2010. The company, however, believes that it … [visit site to read more]

Stock Buy: Cardtronics, Inc. Posted: 02 Mar 2010 09:00 PM PST Cardtronics (NASDAQ:CATM) set records for revenue and cash flows leaving analysts optimistic about the company’s growth prospects. Company Description Cardtronics operates over 30,000 ATMs in the U.S., Puerto Rico, the U.K. and Mexico. Additionally, the company works with merchants like 7-Eleven, Costco, CVS, and other major retailers and gas stations. Rising Revenue On Feb 11 Cardtronics reported fourth-quarter results that included revenue of $125 million, up 6% since the same period last year. … [visit site to read more]

Stock Buy: NBTY Inc. Posted: 02 Mar 2010 09:00 PM PST NBTY Inc. (NYSE:NTY) recently surprised on estimates for the fourth quarter in a row as sales hit a first quarter record. NBTY has a forward P/E of just 11.9. Company Description NBTY manufactures and distributes nutritional supplements in the United States and around the globe. The company offers 25,000 products under the name brands Vitamin World, Puritan’s Pride, Holland & Barrett, Rexall, Sundown, Worldwide Sport Nutrition and GNC (UK), among others. NBTY operates retail stores, a web site … [visit site to read more]

Stock Buy: Neenah Paper Posted: 02 Mar 2010 09:00 PM PST Neenah Paper’s (NYSE:NP) recent results have been better than expected, and analysts have been raising their earnings estimates. Company Description Neenah Paper manufactures and distributes a wide range of premium and specialty paper grades, with well-known brands such as Classic, Environment, Kimdura, and Munising. The company also produces and sells bleached pulp, primarily for use in the manufacture of tissue and writing papers. Business Is Improving Management indicated that its businesses … [visit site to read more]

Stock Buy: Ameriprise Financial, Inc. Posted: 02 Mar 2010 09:00 PM PST Ameriprise Financial, Inc. (NYSE:AMP) recently rebounded from a key trend line to jump back within striking distance of the 52-week high at $42.98. Shares of AMP have been trending higher for most of the last month on the heels of the company’s better than expected Q4 results from early February. Company Description Ameriprise Financial, Inc., through its subsidiaries, provides financial planning, products and services primarily in the United States. The company was founded in 1894 and has a … [visit site to read more]

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