Daily Markets - Financial News And Opinions

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• GameStop Upped To Neutral
• Mutual Funds: Top 5 Utilities Funds
• Walgreen Falls Short, Stock Is Up
• Chesapeake Sees More JVs Ahead
• HIW Renews Lease With Krispy Kreme
• Stock Market News Briefs: Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, Piper Jaffray Companies, Saks Incorporated, SAP Aktiengesellschaft Systeme, Anwendungen, Produ, Smith (A.O.) Corporation, Tiffany & Co., Time Warner Inc., Triumph Group, Inc., Walgreen Company, Baidu.com, Inc., Google Inc., PETsMART, Inc.
• Forex Trading: USDJPY Remains In The Doldrums
• China Telecom Misses Forecast
• Pay Czar To Review TARP Firms’ Pay
• Forex Commentary: Confidence In An EU Solution For Greece Diminishes
• Google Stops Censoring Google.cn
• Swiss Franc: The Upside Prevails
• Japanese Yen: Rebound
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• Five Reasons Why The Lead ETN (LD) Is Sinking Like…Well, Lead
• Retail ETFs Remain Vulnerable
• Forex Trading: GBPUSD Between Two Trendlines.
• Forex Trading: EURUSD Moves To New Lows In Early NY Trading
• Gold Likely To Hold $1000 Support Level And See Upsides
• Bear Of The Day: Total System Services (TSS)
• Stock Buy: Infosys
• Stock Buy: Assisted Living Concepts, Inc.
• Stock Buy: Cenveo Inc.
• Stock Buy: EZCORP, Inc.
• Bull Of The Day: Hibbett Sports, Inc. (HIBB)

GameStop Upped To Neutral Posted: 23 Mar 2010 07:45 AM PDT We recently upgraded our recommendation on GameStop Corporation (NYSE:GME) to Neutral from Underperform with a target price of $22.00.  Being the global leader in retailing software, hardware, and game accessories for video game systems and personal computers, GameStop is better positioned than its competitors for the economic recovery. The stock is poised to surge once the economy rebounds and demand improves.  GameStop recently reported fourth-quarter 2009 results that came a penny … [visit site to read more]

Mutual Funds: Top 5 Utilities Funds Posted: 23 Mar 2010 07:41 AM PDT Even during a market downturn, the demand for essential services such as those provided by utilities, remains virtually unchanged. Utilities funds are therefore an excellent choice for investors seeking a steady income flow through consistent yields from dividends. This is also why they are primarily considered to be a relatively more conservative investment option. In recent times their forays into emerging markets have led to appreciably higher returns and they can offer superior returns at a … [visit site to read more]

Walgreen Falls Short, Stock Is Up Posted: 23 Mar 2010 07:31 AM PDT Walgreen Co. (NYSE:WAG) reported second quarter fiscal 2010 earnings of 68 cents per share, which missed the Zacks Consensus Estimate of 71 cents. However, the earnings were better than 65 cents reported in the comparable prior-year quarter. Results include 2 cents of restructuring cost associated with the company's Rewiring for Growth initiative. Net sales for the quarter increased 3.1% year-over-year to $17 billion although same-store sales (those open for more than a year) came down by 0.2%. … [visit site to read more]

Chesapeake Sees More JVs Ahead Posted: 23 Mar 2010 07:30 AM PDT Chesapeake Energy Corporation (NYSE:CHK) is stepping ahead for more joint ventures for its properties, according to management. Chesapeake holds the industry's leading position in U.S. acreage. In addition to significant holdings in several other fields, Chesapeake has the rights to drill nearly 3 million acres in four of the most prolific shale gas fields − Haynesville, Marcellus, Barnett and Fayetteville. Since the last few years, the company has been expanding its asset base by … [visit site to read more]

HIW Renews Lease With Krispy Kreme Posted: 23 Mar 2010 07:15 AM PDT Highwoods Properties, Inc. (NYSE:HIW), a real estate investment trust (REIT), has recently renewed its lease agreement for 59,000 square feet of space at 370 Knollwood in Winston-Salem, North Carolina, with Krispy Kreme Doughnuts (NYSE:KKD), an international retailer of premium-quality sweet treats.   With the deal, Highwoods has extended its long-term relationship with Krispy Kreme. Established in 1937, Krispy Kreme offers premium-quality doughnuts and great-tasting coffee across 560 locations … [visit site to read more]

Stock Market News Briefs: Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, Piper Jaffray Companies, Saks Incorporated, SAP Aktiengesellschaft Systeme, Anwendungen, Produ, Smith (A.O.) Corporation, Tiffany & Co., Time Warner Inc., Triumph Group, Inc., Walgreen Company, Baidu.com, Inc., Google Inc., PETsMART, Inc. Posted: 23 Mar 2010 07:11 AM PDT  Walgreens (NYSE:WAG) posted fiscal second-quarter earnings of 70 cents, one cent below Zacks projections, on revenues of $16.99 billion, which was below Zacks projections of $17.23 billion  A. O. Smith (NYSE:AOS) said it sees first-quarter earnings of $0.95 to $1.00 a share  Piper Jaffray (NYSE:PJC) upgraded SAP (NYSE:SAP) to “overweight” from “neutral,” with a price target of $53  Several firms, including Kaufman and Goldman Sachs (NYSE:GS), lifted price targets for Baidu … [visit site to read more]

Forex Trading: USDJPY Remains In The Doldrums Posted: 23 Mar 2010 07:10 AM PDT USDJPY moved up intially on the data moving above the 200 hour MA at the 90.42 level but has since retreated back lower.  A move above the 90.42 level with sustained momentum is needed to propel the pair higher with 90.72/79 the next key target area.  This area has contained the upside.  On the downside, the 100 day MA - currently at 90.06 remains the key level. The price has closed above the 100 day MA for 12 of 13 days but cannot extend higher. On a break of 90.72/79 the … [visit site to read more]

China Telecom Misses Forecast Posted: 23 Mar 2010 07:00 AM PDT China Telecom (NYSE:CHA) announced 2009 results with adjusted earnings per ADS of US$2.40 missing the Zacks Consensus Estimate of US$2.57. Adjusted earnings exclude amortization of upfront connection fees and impairment losses. The incumbent Chinese fixed-line operator reported an adjusted net income of RMB13.27 billion (US$1.95 billion), down 33.9% year-over-year.   The drop in profit is primarily attributable to higher marketing expenses associated with the deployment of the company's 3G … [visit site to read more]

Pay Czar To Review TARP Firms’ Pay Posted: 23 Mar 2010 06:45 AM PDT In order to judge the propriety of the past richest pay packages, the U.S. Treasury’s pay czar Kenneth Feinberg is planning to review the compensations of top 25 executives at 419 firms that received financial support from the government's $700 billion Troubled Asset Relief Program (TARP) during the height of the financial crisis.   The intention of the compensation review by the pay czar for top executives at bailed-out firms including JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs … [visit site to read more]

Forex Commentary: Confidence In An EU Solution For Greece Diminishes Posted: 23 Mar 2010 06:31 AM PDT It’s becoming apparent that any confidence in an agreement on aid to Greece by the close of the EU summit in Brussels is eroding quickly. The EUR and GBP, the two primary recipients of FX risk reduction, have come under renewed selling pressure (while safe haven trades, USD, JPY and CHF have outperformed). At the time of writing, the EURUSD was testing the 1.3500 psychological support, while the GBPUSD traded down to 1.5061. As we have stated on numerous occasions (including in yesterday’s … [visit site to read more]

Google Stops Censoring Google.cn Posted: 23 Mar 2010 06:30 AM PDT In an official blog posted Monday, Google Inc (NASDAQ:GOOG) SVP (Corporate Development) and Chief Legal Officer, David Drummond announced that the company would stop censoring search results for the Google Search, Google News and Google Images services on its Chinese website, Google.cn.   Google has been in negotiations with Chinese officials, since it discovered willful attempts to hack its corporate infrastructure in China that also indicated abetment by the Chinese government. The … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 23 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: Rebound Posted: 23 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 23 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 23 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Five Reasons Why The Lead ETN (LD) Is Sinking Like…Well, Lead Posted: 23 Mar 2010 06:09 AM PDT Many industrial metals saw prices surge in 2009 as the global economy recovered, the dollar weakened, and inflation concerns were . However, beginning in early 2010, the markets experienced a reversal, as the core CPI fell for the first time in more than 25 years and the dollar gained on global sovereign debt concerns. These factors have caused major weakness in many commodities, especially in base metals ETFs such as PowerShares DB Base Metals Fund (DBB), which is down almost 3.6% this year … [visit site to read more]

Retail ETFs Remain Vulnerable Posted: 23 Mar 2010 06:01 AM PDT As the economy starts to recover and consumers start to come out of their shells, retailers have reaped the benefits of extra spending.  Some are even taking on additional efforts to retain these customers and their spending habits; however, the likelihood that these trends are sustainable is unclear. According to the most recent report issued by the Commerce Department, a range of retailers boasted month over month gains, enabling the sector as a whole to show seasonally adjusted increases … [visit site to read more]

Forex Trading: GBPUSD Between Two Trendlines. Posted: 23 Mar 2010 05:55 AM PDT The bottom of the trendline broken last week held topside resistance. The downside support line was tested, pressuring the line at 1.4986 but has bounced back above the 1.5000 level.  The low reached today at 1.4972 matched the last low from yesterday before the move higher in NY trading.  The topside resistance comes in against the midpoint fo the weeks 2 day range at the 1.5021 level and above that at 100 bar MA on the 5 minute chart at the 1.5034 level (blue line in the chart … [visit site to read more]

Forex Trading: EURUSD Moves To New Lows In Early NY Trading Posted: 23 Mar 2010 04:56 AM PDT The EURUSD is making new day lows in early NY trade. No US data is out until 10AM when the Existing Home Sales and Richmond Fed are released.  The expectation is for 5.00M units down from 5.05M units. Month supply rose to 7.8 months last month after falling to 6.5 months in November . Richmond Fed is expected to rise to 5 from 2.  This index has been as high as 7 and as low as -4 in the last 5 months.  Canada has Leading indicators due out at 8:30 MA with expectations … [visit site to read more]

Gold Likely To Hold $1000 Support Level And See Upsides Posted: 23 Mar 2010 04:45 AM PDT Over the past week, gold prices have been teetering in positive and negative territory and somewhat uncertain; however, there is much confidence that the price of bullion will increase this year. One factor that is likely to support the price of the precious metal is the fact that central banks around the world have been hoarding onto the commodity and reluctant to sell it.  In fact, some bullion analysts expect the Central bank of China, Russia and India to continue to gobble up gold as … [visit site to read more]

Bear Of The Day: Total System Services (TSS) Posted: 22 Mar 2010 10:00 PM PDT We are initiating coverage on Total System Services (NYSE:TSS) with an Underperform recommendation. The company’s fourth quarter earnings came in a penny ahead of the Zacks Consensus Estimate. However, results posed weak top-line growth due to sluggish performance in the electronic payment processing services. Inefficient cost-cutting and negative growth guidance for 2010 were also among the negatives. Although management expects to grow inorganically with a modest cash position and a risk-free … [visit site to read more]

Stock Buy: Infosys Posted: 22 Mar 2010 10:00 PM PDT Infosys (NASDAQ:INFY) is expected to produce strong growth, while offering a dividend that is slightly below that of the S&P 500 Index. Analysts estimate for INFY’s long-term EPS growth rate is 19%. The stock’s current dividend yield is 1.2%, compared to 1.7% for the S&P 500. This Zacks Rank #2 stock trades at 26.9x 2010 EPS estimates and 24.8x 2011 EPS estimates. Company Description Infosys designs and delivers IT-enabled business solutions, providing its clients with strategic … [visit site to read more]

Stock Buy: Assisted Living Concepts, Inc. Posted: 22 Mar 2010 10:00 PM PDT Assisted Living Concepts, Inc. (NYSE:ALC) recently hit a new 52-week high as the company continues to strategically shift away from Medicaid to private payers that offer higher margins. Analysts are bullish on the company, projecting 15% earnings growth in the next-year period. Company Description Assisted Living Concepts, Inc. operates as a senior living residence in the United States. The company operates 211 senior living residencies, housing 9,200 residents in 20 states. Assisted Living … [visit site to read more]

Stock Buy: Cenveo Inc. Posted: 22 Mar 2010 10:00 PM PDT Cenveo, Inc (NYSE:CVO) recently beat Wall Street’s expectations, sending shares to a new 52-week high. Thanks to upward estimate revisions, shares are still a good value. Company Description Cenveo, Inc. manages and distributes print and other products for its customers. The company offers levels, forms, packaging, envelopes, and other related products and services. Beat the Street On Mar 3 Cenveo reported earnings per shares of 20 cents for the fourth quarter of 2009. The Zacks Consensus Estimate … [visit site to read more]

Stock Buy: EZCORP, Inc. Posted: 22 Mar 2010 10:00 PM PDT EZCORP, Inc. (NASDAQ:EZPW), the pawn shop operator, is attractively valued with a forward P/E of just 11.2x and a PEG ratio of 0.73. Company Description EZCORP operates pawnshops where it provides loans and credit services to customers who have short-term cash needs. The company offers non-recourse loans collateralized by personal property in its stores, known as pawn loans. It also offers payday loans, installment loans and auto title loans. As of Dec 31, 2009, EZCORP operated retail stores in 920 … [visit site to read more]

Bull Of The Day: Hibbett Sports, Inc. (HIBB) Posted: 22 Mar 2010 10:00 PM PDT We maintain our Outperform recommendation on Hibbett Sports (NASDAQ:HIBB) as we anticipate it to perform well above the market. Its sharp focus towards mid-sized and smaller markets and a strategic mix of branded as well as localized merchandise provide an edge over its rivals in a highly competitive specialty retail industry. Hibbett’s management is also committed towards expanding its store network in fiscal 2011. Moreover, the company’s debt-free balance sheet and full availability under credit … [visit site to read more]

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