Daily Markets - Financial News And Opinions

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• Greatbatch Receives Approval
• Gold And Stock Market To Reverse Soon?
• Marc Faber: “We Already Have A Gold Standard”
• Palm Disappoints On Weak Outlook
• Noble Expands Position In GoM
• Forex Trading: EUR/USD Shows Continued Bearishness Off The Wedge
• JPMorgan Sells Notes
• Forex Trading: SNB’s Board Member Danthine Comments Sink EUR/CHF
• Forex Trading: USDCAD Tests 38.2% Retracement
• Forex Trading: GBPUSD Moving Tests 200 Hour MA
• Arch Increases PRB Exposure
• Stock Market News Briefs: Best Buy Co., Inc., Deutsche Bank AG, Gamestop Corporation, Goldman Sachs Group, Inc. (The), Piper Jaffray Companies, Google Inc., Palm, Inc., Perry Ellis International Inc.
• Hartford Prices Notes
• Swiss Franc: The Upside Prevails
• Japanese Yen: Rebound
• British Pound: The Upside Prevails
• Euro: Rebound
• Forex Trading: EURUSD Pressing The Downside
• Forex Trading: USDCAD Retail Sales Due At 8:30 AM
• Stock Market And Commodities Likely To Rocket Up In A Final Runaway Move
• Stock Buy: J.Crew Group
• Bear Of The Day: NuStar Energy, L.P. (NS)
• Stock Buy: IDACORP, Inc.
• Bull Of The Day: Intuitive Surgical, Inc. (ISRG)
• Stock Buy: Nordson
• Stock Buy: Cliffs Natural Resources Inc.

Greatbatch Receives Approval Posted: 19 Mar 2010 07:49 AM PDT Greatbatch Inc. (NYSE:GB) recently received the U.S. Food and Drug Administration (FDA) 510 (k) approval to market its next generation valved peelable introducer, OptiSeal, in the United States. The OptiSeal valved peelable introducer is used in the delivery of leads and catheters into the venous system. The product has earlier received marketing clearance in Canada and Europe.   Greatbatch Medical develops OptiSeal in collaboration with its various original equipment manufacturer (OEM) … [visit site to read more]

Gold And Stock Market To Reverse Soon? Posted: 19 Mar 2010 07:45 AM PDT Today will be the 28th day of the rally out of the February 5th bottom. We are now in the trading band for the daily cycle in stocks to bottom. (The cycle rarely lasts much longer than 35-40 days.) So like I said in my last post we are due for a short breather any time now. The consensus seems to be that the market will hang in till the end of the month. It may, but I tend to think we’ve probably seen about all the upside we are going to see at this point. The leading tech … [visit site to read more]

Marc Faber: “We Already Have A Gold Standard” Posted: 19 Mar 2010 07:35 AM PDT The markets have created their own gold standard because of uncertainties regarding other asset classes, Marc Faber, author of The Gloom, Boom and Doom Report, told CNBC on Thursday. “I think we already now have a gold standard … created by the market place. We have the exchange traded funds that have proliferated and we have more and more physical buying of gold,” he … [visit site to read more]

Palm Disappoints On Weak Outlook Posted: 19 Mar 2010 07:33 AM PDT We do not see a turnaround at Palm Inc. (NASDAQ:PALM) in the near future. The shares fell 14.5% after the market closed yesterday, following the company's third-quarter of fiscal 2010 earnings announcement. The shares have fallen by more than 50% this year. Although its loss narrowed in the quarter, driven by higher year-over-year sales, Palm provided disappointing revenue guidance for the fourth quarter. Management said that the revenue in the fourth quarter would come in below expectations, as … [visit site to read more]

Noble Expands Position In GoM Posted: 19 Mar 2010 07:32 AM PDT Noble Energy Inc. (NYSE:NBL) was apparently the highest bidder on 16 deepwater lease blocks in the Central Gulf of Mexico Lease Sale 213. Noble Energy’s share of the lease bonuses on its bids totaled approximately $37.7 million.    The company partnered another on one of the high bids and bid alone on the remainder. The blocks cover over 82,500 net acres in water depths up to 7,800 feet. Noble Energy’s total acreage position in the deepwater Gulf of Mexico, focusing mainly on the Green … [visit site to read more]

Forex Trading: EUR/USD Shows Continued Bearishness Off The Wedge Posted: 19 Mar 2010 07:22 AM PDT Continued bearish price action on EUR/USD, a daily chart of which is shown, has broken down cleanly below the rising wedge pattern (a bearish formation) as noted yesterday. This breakdown follows on the heels of price being rejected by key resistance in the 1.3800 price region, and indicates that the overall downtrend in the pair is still firmly intact. The current bearishness off the wedge could target further downside support in the key 1.3400 price region, a breakdown of which would confirm … [visit site to read more]

JPMorgan Sells Notes Posted: 19 Mar 2010 07:13 AM PDT According to IFR, a Thomson Reuters service, JPMorgan Chase & Co. (NYSE:JPM) sold $2.75 billion of notes on Thursday.   JPMorgan executed the sale of notes in two tranches of $1.25 billion of five-year notes to yield 110 basis points and $1.5 billion of new 10-year notes priced to yield 127.5 basis points over comparable U.S. treasuries.   JPMorgan has not disclosed anything about the use of the proceeds from the sale of these notes.   Estimate Revision Trend   Over the … [visit site to read more]

Forex Trading: SNB’s Board Member Danthine Comments Sink EUR/CHF Posted: 19 Mar 2010 07:10 AM PDT In the FX markets, events in Europe has stolen the spotlight. Greek PM Papandreou stated that he needs an answer regarding potential aid strategies at the 25-26th EU leader summit. And in a not so subtle shift, Germany is now openly supporting Greece turning to the IMF, as it would be unconstitutional for any EU member nation to provide financial aid. Clearly, the rift between Greece and Germany is growing and spilling out into the public forum. As we mentioned, we highly doubted the answer … [visit site to read more]

Forex Trading: USDCAD Tests 38.2% Retracement Posted: 19 Mar 2010 07:08 AM PDT The USDCAD is back up testing resistance against the 38.2% retracement of the days range at the 1.0109 level.  Watching the level to provide some resistance.  The higher dollar has led to the short covering rally of f the trendline lows.  Additonal resistance comes in  at 1.0118 and … [visit site to read more]

Forex Trading: GBPUSD Moving Tests 200 Hour MA Posted: 19 Mar 2010 06:59 AM PDT The GBPUSD has moved below the 200 hour MA at the 1.5116 level and looks toward the next support level at the 1.5065 level.   This is the 61.8% retracement of the move up from the March 10th low to the high at 1.5380 pm March 17th. The pound has been hit hard today on the back of the comments from BOE Sentance on how he is concerned about a double dip … [visit site to read more]

Arch Increases PRB Exposure Posted: 19 Mar 2010 06:52 AM PDT Arch Coal Inc. (NYSE:ACI) announced that it has bid successfully for a state coal lease in Montana. The company made a one-time bonus bid of $85.8 million, payable in April 2010, for the right to mine about 8,300 acres of state-owned minerals in the Otter Creek Tracts in southeastern Montana.   Arch now controls approximately 1.5 billion tons of coal in Montana’s Otter Creek area, including previous reserve additions such as the coal lease secured in November 2009 through Great Northern … [visit site to read more]

Stock Market News Briefs: Best Buy Co., Inc., Deutsche Bank AG, Gamestop Corporation, Goldman Sachs Group, Inc. (The), Piper Jaffray Companies, Google Inc., Palm, Inc., Perry Ellis International Inc. Posted: 19 Mar 2010 06:51 AM PDT  Perry Ellis (NASDAQ:PERY) posted fiscal fourth quarter earnings a nickel above estimates at 64 cents versus a loss of $1.58 a year ago, on revenues of $196.4 million, slightly under estimates of $198.91 million. The retailer said it sees fiscal 2011 earnings of $1.25 to $1.40  According to the China Business News, Google (NASDAQ:GOOG) may withdraw from its China internet search operations in April.  The report said an announcement by Google on Monday is possible  Piper Jaffray … [visit site to read more]

Hartford Prices Notes Posted: 19 Mar 2010 06:30 AM PDT As part of its plan to repay the entire $3.4 billion of bailout money it received from the government for participating in the Troubled Asset Relief Program (TARP) at the height of the credit crisis, Hartford Financial Services Group Inc. (NYSE:HIG) announced the pricing of its public offering of $1.1 billion in senior notes. This offering is part of the company's plan to raise $3.05 billion by issuing new securities.   The $1.1 billion notes of Hartford will consist of $300 million of … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 19 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: Rebound Posted: 19 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 19 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: Rebound Posted: 19 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Forex Trading: EURUSD Pressing The Downside Posted: 19 Mar 2010 05:52 AM PDT The EURUSD is pressing the 2 week low prices at the 1.3528. 1.3538 and 1.3551 levels as NY continues to pressure the currency. The Greece situation/lack of action has the market back eyeing the downside for the pair.  The rates that Greece is to pay for its upcoming debt obligation (10 billion euro on April 20 and May 19th) had widened to 330 pips above German debt at current market rates.  The country needs to have this premium subsidized and/or have the market spread contract. So … [visit site to read more]

Forex Trading: USDCAD Retail Sales Due At 8:30 AM Posted: 19 Mar 2010 05:14 AM PDT The US Retail Sales report for is due at 8:30 AM. The expectation is for a 0.6% increase for the headline and +0.5% for the ex Auto.  Last month the Retail Sales increased by 0.4% and 0.4% for both.  Earlier today CPI came out better than expectations. This continued the string of better economic data over the last few weeks for the Canadian economy and put them on track (or perhaps ahead of the pace) for a tightening at the end of the 2nd quarter.  From a techincal perspective, … [visit site to read more]

Stock Market And Commodities Likely To Rocket Up In A Final Runaway Move Posted: 19 Mar 2010 04:01 AM PDT Last week I hypothesized that the markets are “On the Brink of an Asset Explosion”. If this is going to play out then we can probably expect to see runaway moves develop in virtually all assets soon. The rally out of the `06 bottom to the February `07 mini crash is a classic example of a runaway move (chart below). Note the brief measured corrections. Needless to say, if something like this develops soon, one doesn’t want to get caught on the bearish side of the tracks. This kind of … [visit site to read more]

Stock Buy: J.Crew Group Posted: 18 Mar 2010 10:00 PM PDT J.Crew Group, Inc. (NYSE:JCG) analysts are raising expectations following a great earnings report as the company continues to demonstrate excellent fundamentals. Company Description J.Crew Group is a well-known apparel company. The company sells clothing, shoes and accessories through about 300 retail locations, its catalog and website. Revenues up 19% On Mar 9 J.Crew reported quarterly results that included revenues of $461 million, up 19%, driven by a 17% increase in same-store sales. Net income … [visit site to read more]

Bear Of The Day: NuStar Energy, L.P. (NS) Posted: 18 Mar 2010 10:00 PM PDT We are downgrading NuStar (NYSE:NS) units to Underperform from Neutral, reflecting the challenging business environment for pipeline operators. While the partnership’s liquidity position is sound, we continue to believe that the near- to medium-term outlook for petroleum products expenditure remains weak. Another concern for NuStar is the weak demand for refined products that translates into lower pipeline throughputs. Furthermore, the addition of the asphalt business has increased the partnership … [visit site to read more]

Stock Buy: IDACORP, Inc. Posted: 18 Mar 2010 10:00 PM PDT IDACORP, Inc. (NYSE:IDA), an Idaho utility, has surprised on the Zacks Consensus Estimate 3 out of the last 4 quarters by an average of 20.6%. Company Description IDACORP, Inc. is a holding company with three companies: Idaho Power, IDACORP Financial Services (”IFS”) and Ida-West Energy Company. Idaho Power generates electricity in a 24,000 square mile area in southern Idaho and eastern Oregon to a population of about 982,000. The company operates 17 hydroelectric power plants, 2 gas-fired plants … [visit site to read more]

Bull Of The Day: Intuitive Surgical, Inc. (ISRG) Posted: 18 Mar 2010 10:00 PM PDT Intuitive Surgical’s (NASDAQ:ISRG) story is improving. A new product was developed as an upgrade to its da Vinci Surgical System. Furthermore, the company enjoys a virtual monopoly in robotic surgery without direct competition. The company’s razor/razor blade business model ensures recurring revenues even during difficult times. In the fourth quarter, earnings of $1.95 per share were higher than the Zacks Consensus Estimate of $1.71. Revenue growth was witnessed across all segments. The company also … [visit site to read more]

Stock Buy: Nordson Posted: 18 Mar 2010 10:00 PM PDT Nordson (NASDAQ:NDSN) easily topped first-quarter estimates and management guided higher for the second quarter. Company Description Nordson is one of the world’s leading producers of precision dispensing equipment that applies adhesives, sealants, and coatings to a broad range of consumer and industrial products. The company also manufactures technology-based systems for curing and surface treatment processes. Fiscal First-Quarter Results Sales were $221 million, an 18% increase over the year-ago … [visit site to read more]

Stock Buy: Cliffs Natural Resources Inc. Posted: 18 Mar 2010 10:00 PM PDT Cliffs Natural Resources Inc. (NYSE:CLF) recently hit a new 52-week high on better than expected Q4 results from mid February and rising estimates that project next-year earnings growth of 32%. Company Description Cliffs Natural Resources, Inc. is a mining and natural resources company that produces iron ore pellets, lump and fine iron ore and metallurgical coal. The company was founded in 1847 and has a market cap of $8.7 billion. Fourth-Quarter Results Revenue for the quarter, reported on Feb … [visit site to read more]

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