Mar 12, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Fuel Cell Technology: This “Power Plant In A Box” Could Transform The Energy Sector

Posted: 12 Mar 2010 11:12 AM PST

Friday, March 12, 2010: Issue #1215
Today, we're going on the hunt for the Holy Grail.
But Monty Python's bumbling crew are nowhere to be seen.
I'm talking about scientists' and engineers' constant search for the "Holy Grail" of the energy world: A resource that's clean, has no emissions and is inexpensive.
Simple right?
Well, the "clean" and "no emissions" parts are relatively straightforward. It's the inexpensive part that is elusive. It just so happens to be the … [visit site to read more]


Kirkland’s Beats Zacks Consensus

Posted: 12 Mar 2010 11:10 AM PST

Kirkland's Inc (NASDAQ:KIRK) reported strong results for the fourth quarter and full fiscal 2009. Quarterly earnings were 92 cents, which were well above the Zacks Consensus Estimate of 81 cents. Earnings were up 56% year-over-year. For fiscal 2009, earnings were $1.42 per share compared to earnings of 30 cents in fiscal 2008.
Net sales for the quarter increased 6.9% year-over-year to $142.8 million compared to $133.6 million in the prior-year period. Comparable store sales for the quarter … [visit site to read more]

S&P 500 Stock Market Trends For March 2010

Posted: 12 Mar 2010 11:01 AM PST

This is a monthly chart for the S&P 500 showing 20 years of performance. Since this index is the one used by professional traders, it is important to understand how it is performing. This chart is also excellent at defining the longer term trends for the market.

The bull market of the last five years broke down when the S&P 500 turned down through the 24-month exponential moving average. The bear market began when the index fell through the 24-month exponential moving average. … [visit site to read more]

The Bull Market Is Over

Posted: 12 Mar 2010 11:00 AM PST

This morning, our driver sounded his horn, then started the engine. Cars are never taken in for repair in India unless the horn doesn't work. You can drive without brakes, but not without a horn. Maybe that's why 110,000 people die on India's roads and railways every year.
We were on our way to CNBC, where we were being interviewed. For some reason, your editor has achieved minor celebrity on the subcontinent. The announcer told his audience that we were a "venerated western … [visit site to read more]

Haemonetics Stays Neutral

Posted: 12 Mar 2010 10:54 AM PST

We maintain our Neutral rating on Haemonetics Corporation (NYSE:HAE) with a target price of $58 per share, based on a P/E of 18.1x our fiscal 2011 EPS estimate of $3.20. Haemonetics' third quarter fiscal 2010 results were mixed.
Earnings per share of 71 cents narrowly missed the Zacks Consensus Estimate of 72 cents. However, earnings were better than 63 cents in the year-ago quarter.
Total sales in the third quarter increased 6.3% year over year to $165.2 million. All the major business segments … [visit site to read more]

Zacks Picks Small-Cap Winners

Posted: 12 Mar 2010 10:37 AM PST

Zacks Investment Research analysts have been actively searching through the Zacks database for small and micro-cap stocks to fit into a new product that the company is offering called Small-Cap Institutional Research.
Analysts are specifically looking for stocks that are under-valued or under-followed by the market. Zacks has initiated coverage on several of these names over the past few months, and many analysts have had significant success in picking winners.
Some recent initiations … [visit site to read more]

Semtech Beats, Guides Up

Posted: 12 Mar 2010 10:22 AM PST

Semtech Corp.’s (NASDAQ:SMTC) fourth-quarter earnings beat the Zacks Consensus Estimate by 3 cents. Shares were up in response. The company’s closest competitors, Maxim Integrated Products (MXIM), Linear Technology Corp. (NASDAQ:LLTC) and Intersil Corp. (NASDAQ:ISIL) also beat the Zacks Consensus, as end markets continued to strengthen.
Revenue
Revenue of $85.0 million was up 13.1% sequentially and up 35.6% year over year. The year-over-year increase came after four quarters of decline and basically … [visit site to read more]

Zumiez Quarterly Sales Increases

Posted: 12 Mar 2010 10:07 AM PST

Zumiez Inc. (NASDAQ:ZUMZ), a mall-based specialty retailer of action-sports related apparel, footwear, equipment, and accessories, reported fiscal 2009 fourth-quarter earnings of $8.8 million or $0.29 per share, compared to net income of $6.3 million or $0.21 per share in the year-earlier quarter.
For fiscal 2009, the company reported net income of $9.1 million or $0.30 per share, compared to $17.2 million or $0.58 per share in the previous fiscal year.
Total net sales during the quarter increased … [visit site to read more]

BP Enters Brazil’s Offshore Oil Market With $7 Billion Deal

Posted: 12 Mar 2010 10:01 AM PST

British oil giant BP PLC (NYSE:BP) has finally entered Brazil’s vaunted deepwater oil market with a $7 billion purchase of Devon Energy Corporation (NYSE:DVN) assets.

BP yesterday (Thursday) announced it would acquire some of Devon’s interests in Brazil, Azerbaijan and the Gulf of Mexico. BP also agreed to sell Devon a 50% stake in its Kirby oil sands interest in Alberta, Canada, for $500 million, forming a joint development venture.

The deal bolsters BP’s oil industry position by giving it … [visit site to read more]

Global Economies Surge Forward Without The US

Posted: 12 Mar 2010 10:00 AM PST

There was a time…not so very long ago…when Americans held all the top spots. We had the most…the best…the biggest companies. And the richest people.
Those days are gone…
MEXICO CITY (AP) – Mexican telecom tycoon Carlos Slim is the first man from a developing nation to become the world's richest person – a shift that underlines the loosening of America and Europe's stranglehold on the top spots in the billionaires' club.
Slim's arrival at the top aroused both pride and … [visit site to read more]

New Evidence Indicates China May Be Bankrupt

Posted: 12 Mar 2010 09:51 AM PST

China's low debt is one key factor that contributes to the global perception of its strong economic health. The IMF estimates that China's accumulated gross debt for 2010 is about 22% of GDP, which seems like a drop in the bucket relative to US gross debt at about 94% of GDP.
However, Jim Jubak presents the case that just like any government, including the US — and perhaps more than most — China probably runs its balance sheet through "budget magicians" who don't want to show you … [visit site to read more]

Discover Forecasts Q1 Loss

Posted: 12 Mar 2010 09:50 AM PST

Yesterday, Discover Financial Services (NYSE:DFS) announced that it expects to report a loss in the fiscal first quarter 2010 as the company had to boost its loan loss reserves.
The company will have $305 million pre-tax increase in loan loss reserves in the quarter. This would bring its reserve coverage to approximately a year of losses. As a result of this reserve addition, the company expects to report a first-quarter loss of 22 cents per share to 23 cents per share.
Additionally, the company … [visit site to read more]

Not Durable?

Posted: 12 Mar 2010 09:35 AM PST

Following the severe downturn we’ve had, many economists would probably agree that one key ingredient for a sustained economic recovery is a healthy (i.e., low level) of inventories relative to sales.
Relatively speaking, if businesses are carrying too much inventory on their books, that can act as a drag on growth because they will be hesitant to crank up production — and hiring — until stocks are whittled down to more comfortable levels.
So, what does the latest data reveal on that … [visit site to read more]

XOMA Tops Zacks Estimate

Posted: 12 Mar 2010 09:35 AM PST

XOMA Ltd. (NASDAQ:XOMA) reported fourth-quarter fiscal 2009 earnings of one cent per share, well above the Zacks Consensus Estimate for a loss of 3 cents but below the year-ago earnings of 7 cents. The lower earnings were primarily attributable to the dip in revenues in the fourth quarter of 2009.
Quarterly Results
Revenue declined approximately 41.5% to $21.6 million from $36.9 million in the year-ago quarter. Revenue from license and collaborative fees came in at $14.5 million, against $14.9 … [visit site to read more]

Indonesia ETF (IDX) Surges Ahead

Posted: 12 Mar 2010 09:28 AM PST

More than one year after the market bottom, most equity ETFs have seen a big rebound, but few have been able to match the meteoric rise of the Market Vectors Indonesia ETF (IDX), which is up more than 200% since last March. In fact, only two non-leveraged ETFs have outperformed IDX over the time period: coal (KOL) and preferred stock (PGF) (see our full list of top performing ETFs over the past year). With IDX up close to 10% already in 2010, some investors are wondering if the Indonesian … [visit site to read more]

UNG In Freefall: New Driver, Same Result

Posted: 12 Mar 2010 09:21 AM PST

Perhaps no exchange-traded product listed in the U.S. has seen the level of investor interest or been the subject of as much controversy as the United States Natural Gas Fund (UNG). UNG was launched in April 2007, and the fund was moderately successful during its first 18 months, growing to more than $700 million in assets at the end of 2008. But the success to that point was nothing compared to what lay ahead for the natural gas fund. Prices plunged as the double whammy of massive new … [visit site to read more]

NYX Vends Small Stake In Liffe

Posted: 12 Mar 2010 09:20 AM PST

On Mar 10, NYSE Euronext Inc. (NYSE:NYX) announced that it has sold its prime minority stake in NYSE Liffe U.S. to DRW Ventures LLC, a unit of DRW Trading Group (DRW). This brings the total number of outside owners in NYSE Liffe to six. The other five owners are Citadel Securities, Goldman Sachs Group Inc. (NYSE:GS), Morgan Stanley (NYSE:MS), UBS AG (NYSE:UBS) and GETCO.
 
Both GETCO and DRW are large and prime business magnets in high-frequency trading market. Along with other owners, the two … [visit site to read more]

TWC To Offer VoIP Independently

Posted: 12 Mar 2010 08:50 AM PST

Time Warner Cable Inc. (NYSE:TWC) decided to offer VoIP services independently as a part of its project called "Go It Alone”. The company announced that it will phase out the existing VoIP agreement with Sprint Nextel Corp. (NYSE:S) over the course of next four years. Time Warner Cable entered into a long-term contract in 2003 with Sprint to outsource its VoIP offerings.
 
Time Warner Cable declared that phasing out of the VoIP contract with Sprint will improve the overall economics of the … [visit site to read more]

Forex Trading: USD/JPY Hits Hard Resistance And Retreats Before Noon

Posted: 12 Mar 2010 08:43 AM PST

The USD/JPY hit hard resistance at 91.07 and fell quickly back to trendline support at 90.96. The pair has held the 100 Hour moving average for over a week with only one break below, early in today's session. The pair has climbed almost 300 pips since March 4th. Support will be found at the 100 Hour MA at 90.30 and then down at the 200 Hour MA (89.74) On the top side if the pair can break 01.07, resistance will be found at 91.87 which is the 200 Day MA on the daily … [visit site to read more]

Arch Buys Stake In Texas Plant

Posted: 12 Mar 2010 08:40 AM PST

Arch Coal Inc. (NYSE:ACI) that it purchased 35% equity interest in a Texas power plant as part of its ongoing pursuit of technology meant to reduce damaging greenhouse gas emissions. The Trailblazer Energy Center near Sweetwater, Texas is being developed by Tenaska Inc.  Arch’s investment will be staged over time as the development of the project reaches key milestones.

The fossil-fuel based Trailblazer plant is expected to be among the world's cleanest power plants. The plant will act as … [visit site to read more]

Yellen Brings The Dollar Down

Posted: 12 Mar 2010 08:36 AM PST

It was a great day in the currency markets for investors who own currencies or metals, as the dollar slid versus every asset over the past 24 hours.
The big news driving the dollar lower was the 'leaking' of Obama's pick for Vice-Chairmanship of the Federal Reserve. He apparently has chosen Janet Yellen, the Fed Bank of San Francisco President. Yellen has recently been sounding rather dovish on interest rates, and therefore her nomination has all of those who were expecting an early rise … [visit site to read more]

Human Genome Inks Deal

Posted: 12 Mar 2010 08:35 AM PST

Human Genome Sciences, Inc. (NASDAQ:HGSI) and BioInvent International AB, a Swedish pharmaceutical research company, have joined forces to discover, develop and commercialize therapeutic monoclonal antibodies that specifically target antigens discovered by Human Genome. However, the financial terms of the transaction were undisclosed. 

Under the terms of the agreement, the Swedish firm will apply its antibody discovery technology for generating and developing monoclonal antibody candidates. … [visit site to read more]

CSC Named To Fortune List

Posted: 12 Mar 2010 08:30 AM PST

Leading Information technology solutions company CSC Inc. (NYSE:CSC) is in the headlines again with positive newsflow. The company has recently secured a place in the “Fortune’s” list of the "World's Most Admired Companies” for 2010.

CSC earned this coveted title after surpassing many industry peers and secured the fifth position in the information technology category. This apart, CSC recently announced the launch of the Common Access Card (CAC) Enabled - Remote Access. By using this … [visit site to read more]

Cognizant Going Strong

Posted: 12 Mar 2010 08:19 AM PST

Following the release of strong results in the fourth quarter 2009, estimates for Cognizant Technology Solutions Corporation (NASDAQ:CTSH) have been on the rise.
 
Headquartered in Teaneck, New Jersey, Cognizant is a leading provider of custom information technology to Fortune 1000 customers.
 
Cognizant posted a 20% year-over-year top-line growth and a 6% sequential growth in the fourth quarter. Operating margin of 19.9% was within management's targeted range of 19% – … [visit site to read more]

Will U.S. Drivers “Get Their Motors Running ” If Gasoline Goes Above $3.00?

Posted: 12 Mar 2010 08:17 AM PST

Fundamentals
The days of relatively “cheap” Gasoline prices appear to be ending once again, a byproduct of improving economic conditions tied in with curtailed production. Despite attempts by the Chinese government to dampen its surging economy, energy demand remains robust, with China’s oil imports in February coming in at the second highest total in its history! Although U.S. energy demand is still well below the levels seen 3 years ago, Oil prices are stubbornly holding near the $80 per … [visit site to read more]

Chunghwa Raises Cap Ex Budget

Posted: 12 Mar 2010 08:15 AM PST

Chunghwa Telecom Co. Ltd. (NYSE:CHT), the largest integrated telecom services provider in Taiwan , raised its capital expenditure budget for 2010. The company pegged its full-year 2010 cap ex at $937 million compared to $875 million in 2009. The primary reason for the increase is to expend its nationwide fiber-optic networks.

Chunghwa will invest $422 million towards building FTTx (fiber-to-the-home/premises) networks in 2010 compared to $375 million in 2009. Management hopes to add 10 million … [visit site to read more]

Devon Sells $1.7B Assets Pre-JV

Posted: 12 Mar 2010 08:06 AM PST

Devon Energy Corporation (NYSE:DVN) has agreed to sell its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP PLC (NYSE:BP) for $7.0 billion. BP will also assume Devon’s leases of the Seadrill West Sirius and Transocean Deepwater Discovery drilling rigs for the duration of the contract terms.
 
The company also announced that Devon and BP will form a heavy oil joint venture (JV) to develop BP’s Kirby oil sands leases in Alberta, Canada.
 
Devon's Repositioning … [visit site to read more]

Employment Report: Leading Indicators

Posted: 12 Mar 2010 08:06 AM PST

This is a top shelf, 9 page report on employment as prepared TL. He presents 8 leading indicators of employment and comes to the conclusion: “On the whole, these leading indicators paint a positive picture, indicating that net hiring should emerge before the end of the second quarter.”

To read this fabulous and very informative report click on the link: Employment Report.

Thanks … [visit site to read more]

Video: Another Flop For Pfizer

Posted: 12 Mar 2010 08:04 AM PST

Pfizer Incorporated (PFE) announced Friday that its new breast cancer drug failed to halt the progression of advanced breast cancer tumors in two studies. … [visit site to read more]

Yellen Reported To Be Vice Chair

Posted: 12 Mar 2010 08:04 AM PST

Bloomberg is reporting today that Janet Yellen is President Obama's pick to succeed Donald Kohn as vice chairman of the Federal Reserve. Yellen is currently the President of the San Francisco Fed, the largest of the 12 Federal Reserve Districts, both geographically and economically.

Yellen is an excellent selection for the post. She recognized the looming crisis earlier than anyone else on the Fed. A graduate of Brown and Yale, she has taught economics at Harvard and Berkley and served as … [visit site to read more]

Medtronic Offers Senior Notes

Posted: 12 Mar 2010 07:59 AM PST

Medtronic, Inc. (NYSE:MDT) recently decided to offer its senior notes to the public. The offering includes $1.25 billion of 3.0% Senior Notes due 2015, $1.25 billion of 4.45% Senior Notes due 2020 and $500 million of 5.55% Senior Notes due 2040.

Medtronic will use the proceeds from the offering for working capital and general corporate purposes. This may include repayment of debt.

Medtronic recently reported third quarter fiscal 2010 earnings per share of 77 cents, narrowly beating the Zacks … [visit site to read more]

Morning News Notes: 3/12/2010

Posted: 12 Mar 2010 07:57 AM PST

The “Morning News Notes” as prepared by TL… Janet Yellen, Japan Fed Bank to loosen monetary policy, healthcare, student loans, US equity market strategy, and year to date performance by sector.
Just click on the link or the coffee mug below.

“Morning News Notes”: March 12, … [visit site to read more]

EQIX Focused On Data Center Growth

Posted: 12 Mar 2010 07:55 AM PST

As a leading provider of co-location services, Equinix Inc. (NASDAQ:EQIX) is well positioned in the market. The company is moving on with its leadership position in the energy efficient data center management segment. The company recently announced that its SV2 International Business Exchange (IBX) data center has earned the Leadership in Energy and Environmental Design (LEED) Certification from the U.S. Green Building Council (USGBC).

Securing a LEED certification shows the company's commitment … [visit site to read more]

Sanofi Expands US Footprint

Posted: 12 Mar 2010 07:53 AM PST

Sanofi-Aventis (NYSE:SNY) recently announced that it has completed the acquisition of Chattem Inc. This acquisition will help strengthen Sanofi's presence in the US consumer health care market, which represents 25% of the current worldwide market.
 
Chattem is an established player in the consumer health care segment (brands include Selsun Blue and Icy Hot, among others), with almost 130 years of experience catering to niche market segments in the US. Sanofi also announced its intention of … [visit site to read more]

Video: Asian Markets Mixed As Week Ends

Posted: 12 Mar 2010 07:44 AM PST

Similar to recent trends, the Hang Seng & Sensex indices were on the downside this session, but only by a small margin. … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: ANN, UTX

Posted: 12 Mar 2010 07:40 AM PST

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

NPWZ: Spec Buy On Fuel Cells

Posted: 12 Mar 2010 07:40 AM PST

We are initiating Neah Power Systems (NPWZ) at Outperform with a $1.75 price target over the next 12 months.

Neah, with an accumulated deficit of $51 million, is a development-stage (pre-revenue) company with silicon-based direct-methanol fuel cell intellectual property, design know-how and manufacturing capability that has been demonstrated in the course of multiple contract engagements. Initial bookings of sales employing the new technology through Neah's solar air conditioning … [visit site to read more]

Retail Sales Do Not Disappoint

Posted: 12 Mar 2010 07:30 AM PST

This morning, the U.S. Census Bureau announced that Retail Sales for February were up 0.3% from January and 3.9% from February 2009. Total sales for the December 2009 to February 2010 period were up 4.5% from the same period a year ago.

Retail trade sales were up 0.3% from January 2010 and 4.4% above last year. Gasoline stations sales were up 24.0% from February 2009, and non-store retailers sales were up 11.8% from last year.

The February Retail Sales increase of 0.3% was above expectations … [visit site to read more]

Airline ETF (FAA) Cleared For Takeoff

Posted: 12 Mar 2010 07:23 AM PST

Airline stocks have been flying high in 2010 thanks to renewed hopes over an economic recovery, an uptick in business travel, and a stronger dollar. The Claymore/NYSE Arca Airline ETF (FAA) has shot higher on the news, gaining nearly 5% on the week and 15% so far on the year. A slight pullback in oil prices–one of the primary negative factors weighing on the airline industry–has also added momentum to FAA in recent sessions. Ongoing concerns over the financial health of Europe have … [visit site to read more]

Options Exchange CBOE Files For IPO

Posted: 12 Mar 2010 07:18 AM PST

On Thursday, the final major private options exchange left in the U.S. − the Chicago Board Options Exchange (CBOE) − unveiled its decision of demutualization and going public by filing the initial S-1 form to the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of approximately $300 million. The company is expected to conclude both the processes by the end of the first half of 2010. The IPO will be coordinated by Goldman Sachs Group Inc. (NYSE:GS).
 
Founded … [visit site to read more]

Mutual Funds: Top 5 Van Kampen Funds

Posted: 12 Mar 2010 07:17 AM PST

One of the nation's oldest and largest investment management companies, Van Kampen Investments was established in 1927. With a rich legacy of domain expertise, the company currently manages or supervises around $85 billion worth of assets. It has a strong commitment towards a research driven culture and uses a bottom-up approach to select investments. The company offers a wide range of investment products, including mutual funds, retirement solutions and unit investment trusts. Van Kampen … [visit site to read more]
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)