Daily Markets - Financial News And Opinions |
- Forex Trading: USD/JPY Bullishness Breaks Out Above Consolidation/Trendline
- Dynegy Spends Big On Emissions
- Stock Market News Briefs: Boeing Company (The), Deutsche Bank AG, Domtar Corporation, EMC Corporation, General Mills, Inc., Goldman Sachs Group, Inc. (The), Lennar Corporation, Stanley Works (The), Adobe Systems Incorporated
- Wendy’s/Arby’s Ups Buyback Plan
- Adobe Climbs On Strong Guidance
- Forex Trading: EUR/USD Strong Breakdown Below Key 1.3400 Level
- Tech Data: Earnings Scorecard
- IBKR Downgraded To Underperform
- Forex Trading: AUDUSD Approaches The 100 Day MA Support
- Durable Goods Orders Increase For Third Month
- Darden Beats Zacks Estimate
- Trying To Handpick Health Care Stocks? Consider This ETF
- Pay Czar Limits Pay At 5 TARP Firms
- Mutual Funds: Top 5 T Rowe Price Funds
- Swiss Franc: The Upside Prevails
- Japanese Yen: Rebound
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Copper “Bull Market” Takes A Vacation?
- Forex Trading: EURUSD Trying To Bounce Off Intraday Low
- Forex Trading: EUR/USD Falls Through 1.3425 Key Support
- 15 Interesting Investment, Personal Finance And Retirement Statistics For Canadians
- Forex Trading: USDJPY Breaks Above Topside Resistance At 90.72 And Breaks Higher
- Forex Trading: EURUSD Trying To Bottom But Sentiment Has Change Fundamentally And Technically To The Downside
- Fate Of Foreign Oil Investors In Limbo Amid Ghana-Côte d’Ivoire Border Dispute
- Interesting Chart On U.S. Government Spending
- Jason Ayres On “Spotting Currency Trends For FX Options”, Part 6
- Jason Ayres On “Spotting Currency Trends For FX Options”, Part 7
- Jason Ayres On “Spotting Currency Trends For FX Options”, Part 8
- Bull Of The Day: Gap, Inc. (GPS)
- Stock Buy: Cummings Inc.
- Stock Buy: Systemax Inc.
- Stock Buy: Schawk, Inc.
- Bear Of The Day: BRE Properties, Inc. (BRE)
- Stock Buy: The Steak N Shake
- Higher Lobbying Costs For LUV
| Forex Trading: USD/JPY Bullishness Breaks Out Above Consolidation/Trendline Posted: 24 Mar 2010 07:57 AM PDT Bullish price action on USD/JPY as of Wednesday (3/24/2010) morning New York session has broken out cleanly above both a symmetrical triangle consolidation pattern as well as a key downtrend resistance line (within a parallel downtrend channel) extending from the April 2009 high. This breakout price action has thus far extended all the way up to approach strong resistance in the 92.00 price region. In the event of further upside momentum that breaks out strongly above the 92.00 area, a … [visit site to read more]
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| Dynegy Spends Big On Emissions Posted: 24 Mar 2010 07:45 AM PDT Dynegy Inc. (NYSE:DYN) recently reported that to date it has spent $600 million to cut emissions of pollutants at its power plants in Illinois. Dynegy expects total investment to be approximately $1 billion.
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| Posted: 24 Mar 2010 07:30 AM PDT General Mills (NYSE:GIS) posted better than expected earnings on inline revenues. Fiscal third quarter earnings of 97 cents beat Zacks estimates by 4 cents versus 79 cents a year earlier, on inline revenues of $3.63 billion. The company said it sees full-year earnings of $4.57 to $4.59 per share Lennar (NYSE:LEN) reported a narrower-than-expected loss of 4 cents a share versus Zacks estimates of a 32 cent loss, much improved from the prior year’s 98 cent loss. Revenues of $574.4 … [visit site to read more]
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| Wendy’s/Arby’s Ups Buyback Plan Posted: 24 Mar 2010 07:30 AM PDT Wendy's/Arby's Group, Inc. (NYSE:WEN), the third largest fast-food restaurant operator, notified that its Board of Directors recently raised the share buyback authorization by $50 million to $250 million, which will remain in effect through January 2, 2011.
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| Adobe Climbs On Strong Guidance Posted: 24 Mar 2010 07:21 AM PDT Adobe Systems' (NASDAQ:ADBE) earnings for the first quarter of fiscal year 2010, beat the Zacks Consensus Estimate by a penny. Revenue exceeded by 3.8%. However, shares were up 5.48% in pre-market trading, as investors responded positively to the strong guidance.
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| Forex Trading: EUR/USD Strong Breakdown Below Key 1.3400 Level Posted: 24 Mar 2010 07:20 AM PDT Bearish price action on EUR/USD as of Wednesday (3/24/2010) morning New York session has finally broken down below the key 1.3400 support level, establishing a new 10-month low in the process. This support breakdown follows a clear breakdown of a bearish rising wedge pattern, and confirms a continuation of the strong downtrend that has been in place since the early December highs. As for a downside target, further key support below the now-broken 1.3400 level resides in the 1.3100 … [visit site to read more]
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| Posted: 24 Mar 2010 07:15 AM PDT Tech Data Corp. (NASDAQ:TECD) reported better-than-expected results for the fiscal fourth quarter 2010 on March 2, beating the Zacks Consensus Estimate by a huge difference of $1.01 per share, posting a surprise of 23.76%.
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| IBKR Downgraded To Underperform Posted: 24 Mar 2010 07:00 AM PDT Based on substantially lower than expected results and weak fundamentals, we are downgrading our recommendation on Interactive Brokers Group Inc. (NASDAQ:IBKR) to Underperform from Neutral.
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| Forex Trading: AUDUSD Approaches The 100 Day MA Support Posted: 24 Mar 2010 06:58 AM PDT The 100 day MA is approaching the 100 day MA at the 0.9067 The low today has reached 0.9090. There is good support at this level. On Monday the low came in at the 0.9083 level. On March 15th the low came in at 0.9094.
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| Durable Goods Orders Increase For Third Month Posted: 24 Mar 2010 06:57 AM PDT WASHINGTON (MarketWatch) - “Demand for U.S.-made durable goods rose a seasonally adjusted 0.5% to $178.1 billion in February, the third straight increase in a key forward-looking indicator, according to Commerce Department data released today. New orders for machinery and civilian aircraft were strong in February, while new orders for autos, defense goods and electronics declined. The 0.5% increase in durable goods orders was weaker than the 1.7% gain expected by economists surveyed … [visit site to read more]
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| Posted: 24 Mar 2010 06:45 AM PDT Darden Restaurants, Inc. (NYSE:DRI), one of the world's largest casual dining restaurant operators, recently posted better-than-expected third-quarter 2010 results and lifted its earnings guidance on the heels of improving sales trend and traffic.
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| Trying To Handpick Health Care Stocks? Consider This ETF Posted: 24 Mar 2010 06:31 AM PDT “The healthcare sector has never seen anything like this and neither has the American public. After months of political wrangling, the Affordable Health Care for America Act was signed into law by the President. The Act will extend health insurance coverage to roughly 30 million Americans without it. The new law would also require most Americans to purchase health insurance coverage and it would provide subsidies for private healthcare to low and middle income families.In the meantime, … [visit site to read more]
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| Pay Czar Limits Pay At 5 TARP Firms Posted: 24 Mar 2010 06:30 AM PDT U.S. Treasury’s pay czar Kenneth Feinberg said on Tuesday that the top 25 executives at five firms that received extraordinary government support under the Troubled Asset Relief Program (TARP) will get about 15% lower compensation in 2010 compared to 2009. The cash salaries would be cut on average by 33% from the 2009 levels.
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| Mutual Funds: Top 5 T Rowe Price Funds Posted: 24 Mar 2010 06:25 AM PDT Founded in 1937 by Thomas Rowe Price, Jr. T. Rowe Price is one of the oldest investment management firms in the U.S. With over $366 billion of assets under management, the company offers a wide range of mutual funds, sub-advisory and separate account management services for both individual and institutional investors. It relies on fundamental, proprietary research to create a culture of value-added, active fund management. The company's adherence to stated investment objectives regardless of … [visit site to read more]
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| Swiss Franc: The Upside Prevails Posted: 24 Mar 2010 06:17 AM PDT |
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| British Pound: The Upside Prevails Posted: 24 Mar 2010 06:17 AM PDT |
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| Copper “Bull Market” Takes A Vacation? Posted: 24 Mar 2010 06:17 AM PDT Fundamentals
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| Forex Trading: EURUSD Trying To Bounce Off Intraday Low Posted: 24 Mar 2010 06:15 AM PDT The EURUSD has bounced off an intraday low at 1.3333 and has minor trendline resistance at the 1.3358 level. The key retracement level to watch today will be the 100 bar MA on the 5 minute chart. That level comes in at the 1.3390 level currently and moving lower. The price has stayed below this moving average for the entire day, testing it once during the London session, before moving sharply lower. Bias remains to the downside for the EURUSD after breaking key support … [visit site to read more]
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| Forex Trading: EUR/USD Falls Through 1.3425 Key Support Posted: 24 Mar 2010 06:07 AM PDT The EURUSD continued to tumble as a unnamed source, said that German Chancellor Merkel stated there will be no decision on a bailout package for Greece by the end of the EU’s two day summit in Brussels. The EURUSD traded below the 1.3425 key support (low May 2008) down to 1.3406, while the GBPUSD traded down to 1.4957 (at the time of writing). The public rift between Germany and EU officials on the Greek situation seems to be increasing daily, dimming markets optimism and weighting heavily … [visit site to read more]
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| 15 Interesting Investment, Personal Finance And Retirement Statistics For Canadians Posted: 24 Mar 2010 05:31 AM PDT The Effects Of Compounding In A RRSP (Graphic Courtesy: ScotiaBank) With the 2009 Registered Retirement Savings Plan (RRSP) contribution deadline coming to a close on March 1st, 2010, we thought it would be interesting to compile some of the statistics from the numerous investment related, personal finance and retirement surveys and polls that get published in the lead-up to the deadline each year. Bear in mind, all these surveys/polls are sponsored by banks or asset management … [visit site to read more]
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| Forex Trading: USDJPY Breaks Above Topside Resistance At 90.72 And Breaks Higher Posted: 24 Mar 2010 05:25 AM PDT The USDJPY broke above the 90.72 level and moved sharply higher moving closer to the next target at the 200 day moving average. That level comes in at the 91.57 level.
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| Posted: 24 Mar 2010 05:09 AM PDT There is more support in EU for IMF involvement than before. Also can't confirm there is an accord between Germany, France on IMF aid for Greece. The bias for a lower EURUSD has intensified and will likely not be objected to by the EU officials. The US seems to be fairing better of late and despite the negative dollar implications as a result of the debt situation, it is not immediate. The focus is on the EURUSD and this will likely be the case for the near … [visit site to read more]
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| Fate Of Foreign Oil Investors In Limbo Amid Ghana-Côte d’Ivoire Border Dispute Posted: 24 Mar 2010 05:01 AM PDT A maritime boundary dispute between Ghana and Côte d’Ivoire that erupted this month casts doubt on future international oil claims near the contested area and raises questions about the reaction of foreign investors to the uncertainty. Earlier this month, Côte d’Ivoire appealed to the United Nations to delineate its offshore border with Ghana, a bid seen as controversial since Russia’s Lukoil discovered oil reserves only days before off Ghana’s coast. Ghana’s Jubilee field will … [visit site to read more]
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| Interesting Chart On U.S. Government Spending Posted: 24 Mar 2010 04:01 AM PDT I decided to write a short post on an interesting chart I just found. Source: Cato Institute I was actually surprised by this chart since defense spending has ballooned since 9/11. The wars in Afghanistan and Iraq have been very costly. President Obama has proposed a $708 billion defense budget for fiscal year 2011. I suspect the reason non-defense spending has gone up in relation to defense spending is because the Government is spending so much money on TARP, stimulus bill etc. that … [visit site to read more]
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| Jason Ayres On “Spotting Currency Trends For FX Options”, Part 6 Posted: 24 Mar 2010 03:56 AM PDT Join Jason Ayres, president and founder of Optionsource.net, as he demonstrates how to identify opportunities in the currency markets. … [visit site to read more]
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| Jason Ayres On “Spotting Currency Trends For FX Options”, Part 7 Posted: 24 Mar 2010 03:55 AM PDT Join Jason Ayres, president and founder of Optionsource.net, as he demonstrates how to identify opportunities in the currency markets. … [visit site to read more]
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| Jason Ayres On “Spotting Currency Trends For FX Options”, Part 8 Posted: 24 Mar 2010 03:54 AM PDT Join Jason Ayres, president and founder of Optionsource.net, as he demonstrates how to identify opportunities in the currency markets. … [visit site to read more]
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| Bull Of The Day: Gap, Inc. (GPS) Posted: 23 Mar 2010 10:00 PM PDT We maintain our Outperform recommendation on Gap, Inc. (NYSE:GPS) as we anticipate it to perform well above the market. Gap is the leading player in the highly fragmented specialty retail sector, and has a market cap which is more than double its nearest competitor.
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| Posted: 23 Mar 2010 10:00 PM PDT Cummins Inc. (NYSE:CMI) has a Zacks #1 Rank and trades at 15.1x 2011 consensus EPS estimates.
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| Posted: 23 Mar 2010 10:00 PM PDT Systemax Inc. (NYSE:SYX) has resurrected some well known retail brands like Circuit City through e-commerce sites which is boosting the company’s bottom line. SYX is trading at 12.3x forward earnings.
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| Posted: 23 Mar 2010 10:00 PM PDT Schawk Inc. (NYSE:SGK) just beat expectations and shares are soaring yet, thanks to rapidly rising estimates, remain a great value with plenty of growth.
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| Bear Of The Day: BRE Properties, Inc. (BRE) Posted: 23 Mar 2010 10:00 PM PDT Our long-term recommendation for BRE Properties (NYSE:BRE) is Underperform as we anticipate it to perform well below the broader market. We expect continued volatility in the multifamily sector with increasing job cuts and decline in the market fundamentals.
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| Posted: 23 Mar 2010 10:00 PM PDT The Steak n Shake (NYSE:SNS) recently hit a new 52-week high on a return to profitability in its Q1 results from late January and surging estimates.
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| Posted: 23 Mar 2010 04:06 PM PDT In the fourth quarter of 2009, Southwest Airlines Co. (NYSE:LUV) spent $180,000 to lobby, higher than the $40,000 spent in the fourth quarter 2008. Its lobbying expenditure for 2009 was $690,000.
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