Mar 2, 2010

Daily Markets - Financial News And Opinions

Daily Markets

Daily Markets - Financial News And Opinions

Gold-Bull Buys Call Spread On Newmont Mining Corp.

Posted: 02 Mar 2010 05:45 PM PST

(NYSE:NEM) - Newmont Mining Corp. - Shares of the gold mining company are up 2.90% to $51.74 this afternoon as gold stocks across the board rallied along with the price of the previous metal. Newmont’s shares recovered significantly since reaching a low point for the year 2010 of $42.87 back on January 29, 2010. The current price per NEM share of $51.74 represents an impressive 20.65% rally over its January low of $42.87. One options trader populating our screens today expects the good times … [visit site to read more]


The Fine Art Of Shorting (As Demonstrated By A Bear)

Posted: 02 Mar 2010 05:01 PM PST

Markets are driven by human nature, and human nature does not change. Thus “the old ways are the best ways” when it comes to trading technique - perhaps especially when going short.

Your editor is currently reading a remarkable little book: The Psychology of the Stock Market by G.C. Selden.
The book is all the more remarkable for how old it is - first published in 1912 - and how relevant nonetheless.

Selden’s straightforward observations are timeless. He could as easily have been … [visit site to read more]

Switching From Mutual Funds To ETFs

Posted: 02 Mar 2010 04:01 PM PST

For all the benefits exchange traded funds (ETFs) offer, it’s little shock that they’re trouncing mutual funds in nearly every regard. If you’re an investor hanging onto a mutual fund that just isn’t cutting it, take the opportunity to find a similar ETF that might be a better fit.

The main advantage ETFs have is their low costs, which translate into greater returns for you, writes Jeffrey R. Kosnett for Chicago Tribune. ETFs now include every imaginable investment category, such as broad … [visit site to read more]

Don’t Bet On A Recovery

Posted: 02 Mar 2010 04:00 PM PST

It is astounding how many economists, government officials, and Wall Street strategists construe the current economic conditions as evidence of a bona fide recovery. It is a testament to the power of the rose-colored glasses handed out by our nation's leading universities that such a feeling could be widely held despite the clear and present danger that compounds daily. The myopia leads us to enact policies that actually exacerbate our problems. The "remedies" are postponing, perhaps … [visit site to read more]

ProShares Planning Short, Leveraged Regional Bank ETFs

Posted: 02 Mar 2010 03:19 PM PST

ProShares, a leading provider of inverse and leveraged ETFs, has filed for approval on seven addition ETFs, including four "ultra" international ETFs and three products focusing on a popular regional bank index. The international ETFs complement four existing 200% inverse products, and include:

Ultra MSCI Brazil: Seeks daily returns equal to 200% of the daily returns on the MSCI Brazil Index.
Ultra Pacific ex-Japan: Seeks daily returns equal to 200% of the daily returns on the MSCI Pacific … [visit site to read more]

Cartoon: A Banker’s Career Cycle

Posted: 02 Mar 2010 03:01 PM PST

Source: Doonesbury, SlateV.com, March 1, … [visit site to read more]

Tax Cuts Without Spending Cuts Are A Mistake

Posted: 02 Mar 2010 03:00 PM PST

US fiscal policy has been out of whack for so long that both Democrats and Republicans share a part in the blame. But, for a recent column in the Financial Times Gideon Rachman focuses on the Republican role in debt creation. In particular, he looks at how Ronald Reagan's strengths and weaknesses in office have evolved over time into a muddled mess of tax and spending strategy.
From the Financial Times:
"The Republican party – with Ms Palin to the fore – is currently decrying the huge … [visit site to read more]

Inflation: The Economic Factor That Never Stops

Posted: 02 Mar 2010 03:00 PM PST

I am a guy who thinks that such huge explosions in money supplies around the world and the explosions in government deficit-spending around the world will lead to catastrophic explosions in inflation in prices, probably around the world.
I am also a guy who thinks that inflation in prices is the Thing Most Feared (TMF) in the whole world in terms of total sheer misery and suffering, judging by the entire last 4,500 years of history, except for, maybe, the plague.
Naturally, for one so dyspeptic … [visit site to read more]

Cellcom’s Q4 Beats Expectations

Posted: 02 Mar 2010 02:55 PM PST

Telecom operator Cellcom Israel Ltd.'s (NYSE:CEL) fourth-quarter net income grew 11.5% year over year, primarily driven by strong demand for content and value-added services.
The company reported earnings of NIS271 million ($72 million), or NIS2.75 (73 cents) per share, compared to NIS243 million ($64 million), or NIS2.48 (66 cents) per share in the year-ago quarter. The result also came in ahead of the Zacks Consensus Estimate of 69 cents derived from 5 covering analysts.
Total revenue logged a … [visit site to read more]

Cooper Tire Exceeds Estimates

Posted: 02 Mar 2010 02:40 PM PST

Cooper Tire & Rubber Company (NYSE:CTB) posted a profit of $49.6 million or 53 cents per share in the fourth quarter of 2009, in sharp contrast to a loss of $2.43 per share in the same quarter a year ago. With this, the company has beaten the Zacks Consensus Estimate of 47 cents per share.
The improved results were attributable to lower raw material costs, increased volumes and higher utilization of manufacturing capacity, partially offset by unfavorable price and mix. Sales in the quarter … [visit site to read more]

TiVO Initiated As Underperform

Posted: 02 Mar 2010 02:27 PM PST

TiVo Inc. (NASDAQ:TIVO), a leading provider of technology and services for DVRs, offers a subscription-based service that enables consumers to record, watch and control live television. 

The inconsistency in results, lack of profitability, falling revenue and margins and conservative guidance indicates that the stock will perform below the market. With falling margins, we do not expect the company to become profitable in the next several quarters. With negative earnings and falling revenues, … [visit site to read more]

Approval For Pfizer’s Prevnar 13

Posted: 02 Mar 2010 02:12 PM PST

After several delays, Pfizer Inc. (NYSE:PFE) received the much awaited approval from the US Food and Drug Administration (FDA) for its 13-valent pneumococcal conjugate vaccine, Prevnar 13. The vaccine is meant to prevent the invasive disease such as sepsis, bloodstream infections and meningitis, caused by 13 Streptococcus pneumoniae in infants and children of 6 weeks – 5 years of age. 

Prevnar 13, to be administered in four dosages at 2, 4, 6 and 12-15 months, is a new version of the … [visit site to read more]

The High-End Market Moves Down

Posted: 02 Mar 2010 02:00 PM PST

The non-recovery seems to be gathering momentum. Almost every day we receive fresh evidence of economic non-growth and non-vitality.
It's true; the economy does manage to get out of bed every morning. Some folks applaud this fact and declare, "Aha! A recovery!" Other folks, like your California editor, observe that the economy usually crawls right back into bed after brushing its teeth. Your editor sees no recovery. He sees a coach potato with a very bright smile. He sees an economy that … [visit site to read more]

General Dynamics Wins Contract

Posted: 02 Mar 2010 01:57 PM PST

General Dynamics' (NYSE:GD) wholly-owned subsidiary – General Dynamics NASSCO, has been awarded an $824.6 million contract by the U.S. Navy for the construction of two T-AKE dry cargo-ammunition ships. 

Construction of the two ships is scheduled to begin in the second and fourth quarters of 2010, respectively. NASSCO expects to deliver both ships to the Navy’s Military Sealift Command in 2012. 

General Dynamics NASSCO has the only full-service ship construction and repair yard on … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: F, BYD, CVX, TRA

Posted: 02 Mar 2010 01:48 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Atmel Gets Approval For Fab Sale

Posted: 02 Mar 2010 01:42 PM PST

Atmel Corp. (NASDAQ:ATML) announced that the proposed sale of its wafer fabrication operation in Rousset, France, to LFoundry GmbH has been approved by employees at the facility and the Rousset Works Council. 

Subsequent to receiving Works Council approval, Atmel sought and obtained approval from its Board of Directors to enter into a stock purchase agreement with LFoundry for the sale, which is expected to close in the second quarter. 

Over 700 workers are currently employed at the … [visit site to read more]

Daily ETF Roundup: GDX, JJC Jump

Posted: 02 Mar 2010 01:39 PM PST

March has gotten off to a start similar to January, as another strong performance Tuesday has investors hoping the recent run-up will prove more sustainable than mini-rally that started the year. A showdown in the tech sector caught the attention of investors, as Apple filed a patent infringement lawsuit against HTC, the maker of Google-based smartphones. Elsewhere, Ford posted a 43% rise in U.S. light vehicles last month, beating GM in monthly sales for the first time in more than ten … [visit site to read more]

Getting On With The Depression To Make Way For Growth

Posted: 02 Mar 2010 01:34 PM PST

"I can't stand it anymore. I have to say something. You act like you actually want a depression. What's wrong with you?"
The above letter came from a dear reader who has missed the point. We are as generous and warm…as caring and sharing…as anyone outside a mental institution. We only want the best for our fellow countrymen…really.
But what is best? What's best for the fellow who bought a house he can't afford? Isn't it to get out the house as soon as possible? What's best … [visit site to read more]

Skyworks Ups Outlook

Posted: 02 Mar 2010 01:27 PM PST

Skyworks Solutions, Inc. (NASDAQ:SWKS) upgraded its guidance for the second quarter of fiscal 2010. Management now expects revenues between $230 million and $235 million, up from the previous forecast of $225 million, driven by strong demand for mobile, internet, smart grid and new, high growth analog applications. 

Results for the December quarter were better than expected. Revenues of $245.1 million surpassed management's guidance range of $238 million – $242 million. The top-line … [visit site to read more]

NIHD Q4 Misses, Outlook Positive

Posted: 02 Mar 2010 01:12 PM PST

NII Holdings Inc. (NASDAQ:NIHD), a provider of wireless services in Latin America, announced fourth-quarter earnings of 35 cents per share, which was well below the Zacks Consensus Estimate of 55 cents. 

Net income for the quarter increased to $59.6 million from $2 million (a penny per share) reported a year ago on account of higher sales. For 2009, net income rose 11.5% to $381 million, or $2.27 per share, beating the Zacks Consensus Estimate of $2.00.
 
Revenue, ARPU & … [visit site to read more]

February ETF Data: Back On The Right Track

Posted: 02 Mar 2010 01:05 PM PST

After enjoying a record year in 2010, many in the ETF industry were disappointed when January figures revealed a material decline in total assets, breaking an impressive string of month-over-month expansion. The latest ETF statistics from the National Stock Exchange are out, and February results were more typical of the industry's recent growth. Total ETF assets increased from about $745 billion to $765 billion, while monthly cash inflows totaled $5.4 billion.
The rebound started at the top … [visit site to read more]

Buffett’s New Shareholder Letter: Bankers’ Advice Biased Toward Earning Fees

Posted: 02 Mar 2010 01:00 PM PST

It hardly sounds like a groundbreaking realization from legendary investor and "Oracle of Omaha" Warren Buffett. Of course, there is the rustic way in which he phrases it. As New York Times' chief mergers and acquisitions reporter Andrew Ross Sorkin quotes, "Don't ask the barber whether you need a haircut."
Just as a woman with sharp scissors may urge you to go for an earlier than needed cut, Wall Street dealmakers eager for fees are going to push to get deals done.
From The New … [visit site to read more]

Steady Cold Trims Gas Supplies

Posted: 02 Mar 2010 12:57 PM PST

The federal government's Energy Information Administration (EIA) reported an in-line decline in natural gas supplies. Stockpiles held in underground storage in the lower 48 states fell by 172 billion cubic feet (Bcf) for the week ended Feb. 19, 2010.
The inventory decline was the 12th in as many weeks. This has finally started to erode the record-high storage amounts, as steady cold weather continued to kick up demand in major gas-consuming regions in the U.S. 
Though the heating season … [visit site to read more]

Triumph Acquires Fabritech

Posted: 02 Mar 2010 12:41 PM PST

Triumph Group Inc. (NYSE:TGI) announced the acquisition of Fabritech Inc., a leading component manufacturer and repair station for critical military rotary-wing platforms. The acquired business will operate as Triumph Fabrications-St. Louis and be part of Triumph Aftermarket Services Group.
 
Management expects the new business to add approximately $25 million of revenue for fiscal year 2011 and will be immediately accretive to earnings. According to management, the rotary-wing components … [visit site to read more]

Titanium Net Down, Outlook Up

Posted: 02 Mar 2010 12:26 PM PST

Titanium Metals Corporation (NYSE:TIE) reported a sharp drop in profits in the fourth quarter of 2009. Net profits declined to 3 cents per share from last year's 19 cents on production delays in the commercial aerospace industry. However, earnings were ahead of the Zacks Consensus Estimate of 1 cent.
For the full year 2009, earnings were significantly down to 19 cents per share from 89 cents in 2008.
Revenue dropped to $183.5 million from $265.2 million in the fourth quarter of 2008. The company … [visit site to read more]

MBIA Inc.’s Loss Narrows

Posted: 02 Mar 2010 12:10 PM PST

MBIA Inc.'s (NYSE:MBI) fourth quarter operating loss of $1.16 per share was a penny more than the Zacks Consensus Estimate of a loss of $1.15. The company had reported a loss of $5.21 per share in the prior-year quarter. Results were dragged down by losses on MBIA’s coverage of mortgage-related securities and complex investments, which weighed down income from investments and premiums.
Revenue rose to $742.1 million, up from negative $1.57 billion in the prior-year period. Revenue … [visit site to read more]

Can Democrats Dislodge The Debate Over Healthcare Reform?

Posted: 02 Mar 2010 12:01 PM PST

If U.S. President Barack Obama goes ahead with a plan to have Democrats invoke a parliamentary gambit known as “reconciliation” to pass healthcare reform, a little known provision in the budget cycle ensures that Washington politicians will get to the endgame in less than 60 days.

One of the peculiarities of reconciliation is that it is a creation of the 1974 Budget Act and is linked to the annual budget cycle in Congress. It has been used to pass more than 22 tax cuts and deficit reductions … [visit site to read more]

Video: After More Than A Decade, Ford’s Monthly Sales Tops General Motors

Posted: 02 Mar 2010 11:59 AM PST

For the first time since August 1998, February finally saw the Ford Motor Company outsell General Motors. … [visit site to read more]

Initiating McAfee With A Neutral

Posted: 02 Mar 2010 11:54 AM PST

We are initiating coverage on McAfee Inc. (NYSE:MFE) with a Neutral rating and a price target of $42.00. We believe McAfee is fairly valued at its current P/E multiple of 17.0X our 2010 EPS estimate of $2.34, which is a substantial discount to the industry average. Historically, the stock has traded in a 5-year trailing twelve month P/E range of 17.7X to 39.2X and we expect the company to trade in the same range going forward. 

The company has delivered encouraging fourth quarter … [visit site to read more]

Video: Interview W/ Beth Ann Bovino, S&P Senior Economist

Posted: 02 Mar 2010 11:52 AM PST

S&P Senior Economist Beth Ann Bovino shares her thoughts on the current state of the US unemployment rate, what it means for the future of the markets, shares what to expect in the future in terms of US unemployment figures.. … [visit site to read more]

Video: Crude Rises Ahead Of Inventory Report

Posted: 02 Mar 2010 11:50 AM PST

Front month crude prices rise as investors await the upcoming inventory data report and a rise in the US dollar. … [visit site to read more]

The Purchasing Power Portfolio: This Five-In-One Investment Is The Ultimate Way To Diversify

Posted: 02 Mar 2010 11:45 AM PST

Tuesday, March 2, 2010: Issue #1207
This time last year, I was pounding the table so hard that my hands hurt.
The target of my beating? The ol' U.S. dollar.
The greenback was in real trouble. Its litany of woes were as clear as day…

An enormous U.S. fiscal deficit – and little or no solid plan to reduce it.
A government hell-bent on bailing out failing institutions.
Higher taxes.
Inflation.

Those factors are still present today. Not a pleasant topic, I know. After all, the majority of … [visit site to read more]

Telefonica Tops, Profit Leaps

Posted: 02 Mar 2010 11:39 AM PST

Telefonica SA (NYSE:TEF) reported fourth-quarter 2009 results with earnings per ADS of US$2.37, comfortably beating the Zacks Consensus Estimate of US$1.63. The Spanish telecom behemoth reported a net income of €2.44 billion (US$3.60 billion), up 22% year-over-year, supported by higher sales as a result of healthy subscriber accretion in Latin America as well as lower taxes. 

For 2009, net income increased 2.4% year-over-year to €7.78 billion (US$10.85 billion) or €1.71 a share (or … [visit site to read more]

BP Deals For U.S. Shale Gas

Posted: 02 Mar 2010 11:24 AM PST

UK super major BP Plc. (NYSE:BP) intends to make a deal with privately held Lewis Energy Group for the expansion of its U.S. shale-gas operations, as per news published in upstreamonline.com. The transaction value of this deal is expected to be worth $150 million to $200 million. 

BP will acquire a 50% stake in 80,000 acres of the Eagle Ford Shale play in the southeastern part of Texas held by Lewis Energy. BP will shell out $4,000 to $4,500 per acre. 

Major energy companies are … [visit site to read more]

Forex Trading: EURUSD Moves Higher..reaches 1st Target Level. Does It Have The Legs?

Posted: 02 Mar 2010 11:17 AM PST

The EURUSD traded 5 hours above and below the 100 and 200 hour moving average.  The 6th hours started to use the 200 hour MA as support and the market started to squeeze to the upside. The price action has seen the price move from 1.3560 to a new intraday high at the 1.3621.  This is above the midpoint of the 2 week trading range.   The next target comes in at the 1.3654 level.

The question is  "Does the market have the legs to push higher?"   The high … [visit site to read more]

ETF Plays For $100 Oil: USO, EEO, And IEZ

Posted: 02 Mar 2010 11:10 AM PST

After surging from about $35 per barrel at the end of 2008 to $70 at the halfway point of 2009, crude oil traded within a relatively tight range of $70 and $80 for the last eight months. But many analysts have become bullish on oil prices in recent weeks, anticipating a rally spurred by seasonal factors, strong demand from emerging markets, and an uptick in manufacturing and factory activity in the U.S.
Oil prices cracked through the $80 level on Monday, but that threshold has proven to be a … [visit site to read more]

OmniVision Beats, Outlook Tepid

Posted: 02 Mar 2010 11:09 AM PST

OmniVision Technologies, Inc.'s (NASDAQ:OVTI) earnings for the third quarter of fiscal 2010 (ending January 2010) beat the Zacks Consensus Estimate by 2 cents. Shares were up more than 1.5% in response. 


Total Revenue 

Revenue of $156.9 million was down 14.4% sequentially and up 96.1% year over year. Revenue was within management's guidance range of $145-160 million (down 20.1%-12.7% sequentially). The sequential decline was due to seasonality in the handsets business, as both North … [visit site to read more]

ETFs vs. HOLDRs: Which Should You Go For?

Posted: 02 Mar 2010 11:01 AM PST

Often turning up in the same circles as exchange traded funds (ETFs) are HOLDRs, which appear to be similar but are actually different in some very key ways. Read on to find out what the heck these things are and whether they’d actually be right for you.

HOLDRs is an acronym for Holding Company Depository Receipts. Designed and launched by Merrill Lynch in the 1990s, they’re classified as ETFs, but here’s how they differ:

They cannot add any shares to its portfolio. This means that if a … [visit site to read more]

Canadian Economic Growth To Spur Early Rate Hike?

Posted: 02 Mar 2010 10:54 AM PST

Here we go again. The Canadian dollar is rapidly approaching parity with the US variety.

In the last five trading days, Canadians have collectively grown almost 4% richer compared with their slovenly southern neighbors. Over the last 12 months, the loonie is up 22% versus the greenback. At this rate, we won't be able to tell people when we head off for Vancouver: "Canada, it's just like the US…only less."
Add in the hockey game on Sunday…then the following nugget… Canucks have … [visit site to read more]

Good News For Bristol-Myers

Posted: 02 Mar 2010 10:54 AM PST

Recently, Bristol-Myers Squibb Co. (NYSE:BMY) announced that the advisory committee of the U.S. Food and Drug Administration (FDA) recommended approval for belatacept, the company's candidate for treating patients undergoing kidney transplants.
The panel voted in favor of approving the drug despite mixed results compared to older therapies from Abbott Laboratories (NYSE:ABT) and Novartis (NYSE:NVS). The favorable recommendation was made primarily to provide physicians and patients with more treatment … [visit site to read more]

Merck KGaA Buys Millipore (Revised)

Posted: 02 Mar 2010 10:44 AM PST

Millipore Corporation (NYSE:MIL), a leading life science company, and Merck KGaA, the Germany-based pharmaceutical and chemicals company, entered into a definitive agreement under which Merck will acquire all outstanding shares of common stock of Millipore for US$107 per share in cash, or a total transaction value, including net debt, of approximately €5.3 billion (US$7.2 billion).
MercK KGaA, also called the German Merck or Merck Dermstadt is one of the oldest chemical and pharmaceutical … [visit site to read more]

Forex Trading: AUDUSD Moves Toward The 100 Day MA At 0.9070

Posted: 02 Mar 2010 10:38 AM PST

The AUDUSD is moving up toward the 100 day MA as oil and commodities increase and stocks increase.  Copper futures are up 5.90. Gold is up 19.63. Oip is up 1.88. 
The RBA raised rates yesterday to 4% and are moving closer to the the 4.5% rate which is neutral rate the bank is moving toward.  The AUDUSD initially but turned around and has rallied for most of the NY session.  Look for sellers against the 100 day MA as profit takers enter.  A break, however, should … [visit site to read more]

Qualcomm Raises Dividend

Posted: 02 Mar 2010 10:37 AM PST

Qualcomm Inc. (NASDAQ:QCOM) has decided to raise its quarterly cash dividend by 12% and also increase the size of the ongoing share buy-back program. The Board of Directors of Qualcomm has approved the increase of quarterly cash dividend from 17 cents to 19 cents per share of common stock and will be effective for quarterly dividends payable after March 28, 2010. This dividend increase will raise the annualized dividend payout to 76 cents per share of common stock.
 
The Board of Directors also … [visit site to read more]

RC2 Upped To Neutral

Posted: 02 Mar 2010 10:17 AM PST

We are upgrading our recommendation on RC2 Corp. (NASDAQ:RCRC) to Neutral from Underperform.
 
RC2's fourth-quarter earnings of 43 cents per share was ahead of the Zacks Consensus Estimate of 41 cents. The better-than-expected results were driven by a favorable product mix and higher margins reflecting cost-reduction initiatives. However, the results were flat compared to the prior-year period.
 
We expect RC2 to further benefit from its aggressive acquisition strategy and the cost cut … [visit site to read more]

Forex Trading: GBPUSD Testing The Topside Trendline Off The Hourly Chart

Posted: 02 Mar 2010 10:07 AM PST

The GBPUSD is testing the topside trendline resistance at the 1.4978 level.  A break to the upside should lead to further topside momentum to the 1.5015 level which is the high from yesterday.

On the downside look for support at the 1.4943 level … [visit site to read more]

Video: Market Movers: TRA, PUK, AOL, DELL, MXB, KMB

Posted: 02 Mar 2010 10:07 AM PST

The latest news and information on U.S. stocks that are moving the market. … [visit site to read more]

Dril-Quip Tops Zacks Consensus

Posted: 02 Mar 2010 10:02 AM PST

Dril-Quip Inc. (NYSE:DRQ) reported fourth-quarter earnings of 72 cents per share, beating the Zacks Consensus Estimate of 70 cents and year-earlier profit of 64 cents. The favorable statistics were mainly driven by contribution from service and subsea equipment revenues. Revenue was $141.3 million, up 4.3% from the year-earlier level.
 
Operating income for the quarter increased 9.6% from the year-earlier level to $36.6 million. Operating margin increased approximately 130 basis points to … [visit site to read more]

Video: Risk Aversion Dominates Forex Markets

Posted: 02 Mar 2010 09:49 AM PST

The combination of both a lack of US economic data and euro-zone economic data falling in line with expectations helped pave the way for investors to favor safer-haven currencies. … [visit site to read more]

Greatbatch Beats

Posted: 02 Mar 2010 09:46 AM PST

Greatbatch, Inc. (NYSE:GB) reported fourth quarter and fiscal 2009 results. The company's fourth-quarter earnings per share of 40 cents beat the Zacks Consensus Estimate of 34 cents. However, earnings per share in the year-ago quarter was 50 cents. For fiscal 2009, earnings per share of $1.52 was ahead of last year's profit of $1.40.
 
Quarterly results
 
Total revenue in the fourth quarter declined 14% year over year to $125.8 million. Greatbatch Medical revenue declined 14% year … [visit site to read more]

Equities 2010: Which Stocks Will Rock?

Posted: 02 Mar 2010 09:42 AM PST

The outlook for equity markets in 2010 is as muddled as ever after a year that only can be described as enigmatic. Equities had one of the best runs ever off of the March 2009 low, but it sure didn't feel bullish or that we were in the midst of a recovery. Once there were actual signs of recovery, the market corrected.
Both the Dow Jones Industrial Average and the S&P 500 rose during November and December 2009 and declined in January, with the Dow off nearly 3%. But just because it's … [visit site to read more]

Improved Quarter For AutoZone

Posted: 02 Mar 2010 09:29 AM PST

AutoZone (NYSE:AZO) has posted earnings per share of $2.46 per share for the second quarter ended February 13, 2010, beating the Zacks Consensus Estimate of $2.35 per share. The earnings also improved from the year-ago level of $2.03 per share.
Net sales in the quarter rose 4% to $1.5 billion. Domestic same store sales (sales for stores open at least one year) increased 1% for the quarter. Gross profit, as a percentage of sales, went up to 50% from 49.7% in the last year’s quarter. The improvement … [visit site to read more]
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)