Daily Markets - Financial News And Opinions |
- Gold Now Trading Very Closely With Main Stock Indices
- Consumer Financial Protection Or Wall Street Beating Main Street?
- Argentina Gives Beans A Boost
- Forex Trading: EURUSD Tests Target Level At 1.3613
- Mutual Funds: Top 5 Legg Mason Funds
- MDVN Falls On Alzheimer’s Data
- Making Sense Of Today’s Stock Market Moves
- Kodak Prices $500 Million Notes
- Warning: Three ETFs That Could Be Crippled By Contango
- State St. Pays Leaving CEO $5.4M
- Forex Trading: EURUSD Falls Below 1.3654. Watching The Level Short Term.
- Swiss Franc: The Upside Prevails
- Japanese Yen: Rebound Expected
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- JPM To Reopen Kangaroo Bonds
- Did Hawaii Purchase Auction-Rate Securities From FINRA Through Citigroup?
- Stock Market News Briefs: Anadarko Petroleum Corporation, Anheuser-Busch Companies, Inc., Bank Of America Corporation, BB&T Corporation, Big Lots, Inc., Coca-Cola Company (The), Goldman Sachs Group, Inc. (The), Limited Brands, Inc., M&T Bank Corporation, Pfizer, Inc., Pier 1 Imports, Inc., Piper Jaffray Companies, Royal Caribbean Cruises Ltd., Suntech Power Holdings Co., LTD., UBS AG, Walt Disney Company (The), Medivation, Inc.
- Lamar Reports Net Loss
- Forex Trading: USDJPY Moves Sharply Higher To Test The 100 Hour MA
- Toyota Prius Still On Top In Japan
- Celera Revenues Dip
- Canadian Solar Misses Estimates
- Forex Trading: EURUSD Awaits Trichet With Eye On Greece.
- Trends In Gold, 10 Year Treasury Yields, And Crude Oil
- Novell To Be Acquired By Elliott
- Stock Buy: Lennox International
- Stock Buy: Cinemark Holdings Inc.
- Bear Of The Day: Western Union Co. (WU)
- Bull Of The Day: Microsoft Corp. (MSFT)
- Stock Buy: Western Digital Corporation
- Stock Buy: Insituform Tech
| Gold Now Trading Very Closely With Main Stock Indices Posted: 04 Mar 2010 07:55 AM PST We’ve started our previous essay by describing several interesting facts about the U.S. Dollar. We wrote the following: If you had spend $1 million each day from the time of the establishment of the ancient city of Rome-about 2,700 … [visit site to read more]
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| Consumer Financial Protection Or Wall Street Beating Main Street? Posted: 04 Mar 2010 07:25 AM PST News that a newly proposed Consumer Financial Protection Agency will be housed within the Federal Reserve is another shot across the bow in terms of Wall Street owning Washington and beating Main Street. Am I surprised by these results? Not at all. The power of the Wall Street lobby is enormous and ultimately the crowd in Washington needs the money from Wall Street in order to pretend they represent the interests of Main Street. All the press conferences and politicking on the topic of … [visit site to read more]
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| Posted: 04 Mar 2010 07:17 AM PST Fundamentals
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| Forex Trading: EURUSD Tests Target Level At 1.3613 Posted: 04 Mar 2010 07:15 AM PST Key level being tested. Equals 100 hour MA and 50% of the Feb 17th to March 2nd low. Upside resistance now at … [visit site to read more]
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| Mutual Funds: Top 5 Legg Mason Funds Posted: 04 Mar 2010 07:00 AM PST With assets under management of $682 billion, Legg Mason is one of the world's largest asset managers. It uses a multi-affiliate business model to provide a wide range of financial services to individual and institutional investors in 190 countries across six continents. Legg Mason affiliates are among the industry leaders in their respective areas of specialization. They operate with a high degree of autonomy each utilizing its own unique approach and processes which it believes are best … [visit site to read more]
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| MDVN Falls On Alzheimer’s Data Posted: 04 Mar 2010 07:00 AM PST Medivation, Inc. (NASDAQ:MDVN) shares fell 67% following the release of disappointing phase III results on lead pipeline candidate dimebon. The company, along with partner Pfizer, Inc. (NYSE:PFE), suffered a huge setback when dimebon failed to achieve both its primary and secondary endpoints in the CONNECTION study.
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| Making Sense Of Today’s Stock Market Moves Posted: 04 Mar 2010 06:55 AM PST As long as we’re having throwdowns on the whys and wherefores of the market these days, I may as well put in my two cents’ worth. First, I want to preface by noting that the entire reason we are having these arguments is because U.S. stocks are pretty much the same price today as they were some six months ago. Indecisive runs like this are by definition the result of mixed news, or perhaps more precisely, mixed understanding of the facts on the ground on the part of investors. It’s a … [visit site to read more]
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| Kodak Prices $500 Million Notes Posted: 04 Mar 2010 06:45 AM PST Recently, Eastman Kodak Company (NYSE:EK) announced the pricing of its private placement of $500 million, the total principal amount of 9.75% senior secured notes due 2018.
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| Warning: Three ETFs That Could Be Crippled By Contango Posted: 04 Mar 2010 06:34 AM PST The surge in popularity of ETFs is often credited with bringing buy-and-hold investors a cost-efficient alternative to traditional actively-managed mutual funds. But ETFs are also responsible for bringing several asset classes previously available only to the largest and most sophisticated individuals and institutions within reach of investors on all levels.
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| State St. Pays Leaving CEO $5.4M Posted: 04 Mar 2010 06:30 AM PST State Street Corp. (NYSE:STT) said on Wednesday that it has paid $5.4 million cash to the departing Chief Executive Ronald Logue as part of his incentive compensation for last year. State Street also paid Logue 35,786 units of restricted stock. Half the cash will be in deferred payments to Logue.
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| Forex Trading: EURUSD Falls Below 1.3654. Watching The Level Short Term. Posted: 04 Mar 2010 06:19 AM PST The 1.3654 has been a level the market has been using as support/resistance for the EURUSD. The Market has moved below the level today and will be watched now for resistance. The low for the day comes in at 1.3533. This is a downside target. Below that the 50% of the two week range along with the 100 hour MA come in at the 1.3613 level. Topside resistance comes in at the 1.3666 and 1.3680 now intraday. Key level above comes in at … [visit site to read more]
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| Swiss Franc: The Upside Prevails Posted: 04 Mar 2010 06:18 AM PST |
| Japanese Yen: Rebound Expected Posted: 04 Mar 2010 06:18 AM PST |
| British Pound: The Upside Prevails Posted: 04 Mar 2010 06:17 AM PST |
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| Posted: 04 Mar 2010 06:15 AM PST JPMorgan Chase & Co. (NYSE:JPM) said recently that it intends to be the first Wall Street firm to issue Kangaroo bonds in Australia since Lehman Brothers collapsed in 2008, Bloomberg reported.
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| Did Hawaii Purchase Auction-Rate Securities From FINRA Through Citigroup? Posted: 04 Mar 2010 06:11 AM PST The auction-rate securities market did not instantaneously freeze in early 2008. The fact is, the ARS market started to fail in mid-2007 on the heels of a variety of market segments repricing given the liquidity issues on Wall Street. Recall that mortgage hedge funds at Bear Stearns cratered in spring 2007. At that point, Wall Street was becoming much more risk averse while shepherding the use of its own capital and balance sheets. During this point in time, the ARS market started to fail … [visit site to read more]
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| Posted: 04 Mar 2010 06:08 AM PST Pfizer (NYSE:PFE) led DJIA stocks on the downside yesterday after Medivation (NASDAQ:MDVN) said its experimental treatment for Alzheimer’s, Dimebon, developed with Pfizer, failed to show desired results in late-stage trials Anheuser-Busch InBev (NYSE:BUD) posted adjusted earnings of 55 cents a share, up from 44 cents, which missed Zacks projections by 5 cents, on combined revenues up 5% to $9.3 billion UBS (NYSE:UBS) upgraded Coca-Cola (NYSE:KO) to “buy” from “neutral,” citing solid … [visit site to read more]
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| Posted: 04 Mar 2010 06:00 AM PST Recently, Lamar Advertising Company (NASDAQ:LAMR), a leading owner and operator of outdoor advertising and logo sign displays, reported results for the fourth quarter and full year 2009.
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| Forex Trading: USDJPY Moves Sharply Higher To Test The 100 Hour MA Posted: 04 Mar 2010 05:54 AM PST The USDJPY has moved sharply higher after breaking above trendline resistance at the 88.48 level. The price is testing the low from Feb 26th which was the bottom of the consolidation phase which gripped the market from Feb 25th to yesterday's break lower. A move above will run into 100 hour MA resistance at the 88.89 level currently. The price has remained below the 100 hour MA since February 23rd when it broke at 91.20.
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| Toyota Prius Still On Top In Japan Posted: 04 Mar 2010 05:53 AM PST Toyota Motor's (NYSE:TM) Prius hybrid has retained its position as the top-selling car in Japan despite the automaker’s global recall woes that included braking problems with the popular hybrid. According to the Japan Automobile Dealers Association, more than 27,000 units of Prius were sold in February, making it the best-selling model for the 10th straight month. Sales of the Prius have definitely been boosted by its reputation for delivering incomparable mileage as well as by tax breaks and … [visit site to read more]
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| Posted: 04 Mar 2010 05:45 AM PST Celera Corporation (NASDAQ:CRA) reported fourth-quarter fiscal 2009 (ended Dec 26, 2009) earnings of 2 cents per share (excluding special items) compared to the Zacks Consensus Estimate of a net loss of 4 cents. The company earned 3 cents (excluding special items) in the year-ago quarter.
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| Canadian Solar Misses Estimates Posted: 04 Mar 2010 05:30 AM PST Canadian Solar Inc's (NASDAQ:CSIQ) adjusted EPS of 35 cents in the fourth quarter of fiscal 2009 fell short of the Zacks Consensus EPS estimate of 51 cents. Fiscal 2009 EPS of $1.41 was also short of the Zacks Consensus EPS estimate of $1.54.
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| Forex Trading: EURUSD Awaits Trichet With Eye On Greece. Posted: 04 Mar 2010 05:27 AM PST The Greek government is launching a bond today totaling 5 billion Euros. This is just the beginning of the process and so they are not out of the woods by any measure. The Greek government announced an austerity package yesterday which totalled about $6.4 billion of additional debt reduction plans. The implementation is key, as is this debt issue and EU support (verbally or otherwise). It is estimated that Greek will need to issue $72 billion of debt this year (53 billion euros). The 5 … [visit site to read more]
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| Trends In Gold, 10 Year Treasury Yields, And Crude Oil Posted: 04 Mar 2010 05:03 AM PST Our composite indicator that assesses the strength in the trends of gold, 10 year Treasury yields, and crude oil is likely to be back in the extreme zone by the end of the week. This represents a headwind for equities. Figure 1 is a weekly chart of the S&P500 and the indicator is shown in the lower panel. This week’s value isn’t reflected in the indicator until Friday’s close, but if the markets closed right now the indicator would be at the extreme zone. If you had been so smart to only … [visit site to read more]
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| Novell To Be Acquired By Elliott Posted: 04 Mar 2010 04:41 AM PST Enterprise software marker and leading technology company Novell, Inc. (NASDAQ:NOVL) announced that it has received a buyout offer from Elliott Associates, L.P., the largest institutional stockholder of Novell, which holds approximately 8.5% of NOVL common stock. Elliott is an investment firm with over $16 billion in assets. Under the unsolicited offer, Elliott Associates plans to acquire Novell for $5.75 per share in cash, which implies an enterprise value net of cash of $1.0 billion. This price … [visit site to read more]
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| Stock Buy: Lennox International Posted: 03 Mar 2010 09:00 PM PST Lennox International (NYSE:LII) delivered better-than-expected results for the fourth quarter, and analysts have been raising their estimates for 2010 and 2011.
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| Stock Buy: Cinemark Holdings Inc. Posted: 03 Mar 2010 09:00 PM PST Cinemark Holdings Inc. (NYSE:CNK) recently hit a new 52-week high just above $17 on strong Q4 results from late February that pushed estimates higher.
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| Bear Of The Day: Western Union Co. (WU) Posted: 03 Mar 2010 09:00 PM PST The Western Union Company’s (NYSE:WU) fourth quarter earnings narrowed compared to the prior-year quarter as a result of lower transaction volumes due to ongoing market challenges and the dilutive effects of recent acquisitions.
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| Bull Of The Day: Microsoft Corp. (MSFT) Posted: 03 Mar 2010 09:00 PM PST Microsoft Corp. (NASDAQ:MSFT) is one of the largest software companies in the world. The company’s operating systems are installed on nearly all computers anywhere in the world. Therefore, the recovery in the PC market is encouraging.
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| Stock Buy: Western Digital Corporation Posted: 03 Mar 2010 09:00 PM PST Western Digital Corporation (NYSE:WDC) is ridiculously cheap with a forward P/E of just 6.6. Not only that but the company continues to beat expectations, surprising on the Zacks Consensus Estimate an impressive 9 consecutive quarters.
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| Posted: 03 Mar 2010 09:00 PM PST Insituform Technologies, Inc. (NASDAQ:INSU) just topped forecasts which sent share price soaring. Analysts continue to revise estimates, giving the company excellent growth projections.
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