Mar 10, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

EFax Enters GOOG’s App-Store

Posted: 10 Mar 2010 09:10 AM PST

eFax, the flagship product of unified value-added messaging services provider j2 Global Communications Inc. (NASDAQ:JCOM), will now be available on the Google Apps Marketplace. Google Inc. (NASDAQ:GOOG) recently launched its online storefront called 'Google Apps Marketplace” for the company's application products and services. The Google Apps Marketplace is used by more than 2 million Google Apps customers to easily discover, purchase and deploy integrated business applications and related … [visit site to read more]


Defense Stocks: Three Companies Beefing Up Homeland Security

Posted: 10 Mar 2010 09:06 AM PST

Wednesday, March 10, 2010: Issue #1213
There was a time when companies charged with defending the United States had to endure the changing political winds.
When hawkish Presidents occupied the White House, defense companies generally fared better than when the Commander-in-Chief was a dove.
Then 9/11 happened – and everything changed.
A New York Times article hammered that home last Saturday, with the story of how a suspected terrorist collaborator has achieved heroine status in Pakistan. … [visit site to read more]

Despite Lousy Economic Fundamentals, The Stock Market Hasn’t Finished Its Run Up

Posted: 10 Mar 2010 09:05 AM PST

There is a lot more to the stock market than just the popular averages everybody is talking about. You see, when the averages move you can’t tell how many stocks participated, so you don’t know how broad that move was.

That’s why you have to dig a bit deeper to get a real picture of the health of a market trend …

Fortunately there are some technical tools proven to help uncover what is beneath the surface of the major indices, to measure what technical analysts call “market … [visit site to read more]

Novatel Downgraded To Underperform

Posted: 10 Mar 2010 08:52 AM PST

We downgrade our recommendation for Novatel Wireless Inc. (NASDAQ:NVTL) to underperform following its fourth quarter 2009 financial results, which came significantly below the Zacks Consensus Estimate. Unfavorable product mix has taken a toll on the company's gross margin. Quarterly gross margin of 26.2% was down 5.4 percentage points from the previous quarter.
 
The company has given a tepid future financial outlook. Management declared that the first quarter 2010 gross margin will be even … [visit site to read more]

WNR Loss Narrows But Stays “Sell”

Posted: 10 Mar 2010 08:36 AM PST

Oil refiner and marketer Western Refining Inc. (NYSE:WNR) reported better-than-expected fourth quarter results, helped by higher sales volumes. Its loss per share, excluding special items, came in at 58 cents, narrower than the Zacks Consensus Estimate of 65 cents.
 
Western's encouraging results are in contrast to that of larger rivals Tesoro Corp. (NYSE:TSO) and Sunoco Inc. (NYSE:SUN), both of which posted bigger-than-expected losses.
 
In the year-ago period, the Texas-based company … [visit site to read more]

Video: “Rumors Are Making The Markets Move”

Posted: 10 Mar 2010 08:18 AM PST

Floor trader Alan Valdes explains how rumors have fueled today’s market movements. … [visit site to read more]

Burger King’s Sales Dip

Posted: 10 Mar 2010 08:18 AM PST

Burger King Holdings Inc. (NYSE:BKC), the second largest hamburger chain, hinted that adverse weather conditions in the Central and Eastern part of the U.S. dragged down the U.S. & Canada segment comparable sales.
 
Comparable sales for the segment dropped 8.2% in the two-month period ended February 28, 2010, versus an increase of 3.1% in the prior-year period due to the presence of 75% of the segment's company- and franchise-owned restaurants in the affected region.
 
Miami, … [visit site to read more]

Forex Trading: USDCAD Approaches The 2009/2010 Low

Posted: 10 Mar 2010 08:10 AM PST

USDCAD is approaching the low from 2010 and the low from 2009.  The low price for 2010 was 1.0223. The low today reached 1.0214. The low from 2009 reached 1.0205.  A break below is likely to solicit additional selling pressure for the pair.
On the topside, a move above 1.0234 will be eyed for the potential of a short covering rally.  The market does seem caught long, however, given the sharp move lower … [visit site to read more]

Abbott On Acquisition Spree

Posted: 10 Mar 2010 08:02 AM PST

Abbott (NYSE:ABT) continues to be in an acquisition mode, recently announcing its intention to acquire Facet Biotech Corporation (FACT) for $27 per share. The total purchase price is approximately $722 million, including Facet's projected cash and marketable securities of approximately $272 million.
 
Last year, Facet rejected an offer from Biogen Idec Inc. (NASDAQ:BIIB) on the ground that it was inadequate and not in the best interests of Facet's stockholders. Abbott's offer price of $27 … [visit site to read more]

Forex Trading: EURUSD Tests Resistance At 1.3654 As The London Fix Attracts Buyers

Posted: 10 Mar 2010 07:56 AM PST

The EURUSD has pushed higher and tests the 1.3654 level.  A break of this level will next target the 1.3691 level.   The London fixing/close is approaching and this may be having an influence on the market currently.  The 1.3691 level above has been another area where the market found support and resistance over the last few … [visit site to read more]

AT&T Tests 100 Gb Ethernet

Posted: 10 Mar 2010 07:49 AM PST

US telecom behemoth AT&T (NYSE:T) reported that it has successfully completed a real-time field trial of 100-Gigabit Ethernet technology, a next-generation backbone network standard. The technology is expected to be available commercially over the next few years. 
 
In the trial, AT&T tested Cisco's (NASDAQ:CSCO) newly unveiled CRS-3 core router in a live network environment. Moreover, the carrier used leading IP network test solution provider Ixia's (NASDAQ:XXIA) "K2″ 100-gigabit … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: ABT, C, CAT

Posted: 10 Mar 2010 07:34 AM PST

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

Denbury Completes Encore Merger

Posted: 10 Mar 2010 07:32 AM PST

Following yesterday's shareholders' approval, Denbury Resources Inc. (NYSE:DNR) has completed the merger with Encore Acquisition Company and entered into a new $1.6 billion credit facility as well. In addition, Denbury will assume Encore's position as obligator on the remainder of all Encore senior subordinated notes.
 
Denbury issued approximately 134.4 million of its shares and paid about $829.4 million in cash to Encore shareholders. Denbury and Encore stockholders own 66.1% and … [visit site to read more]

Forex Trading: EURUSD Testing Highs For The Day. Is The Market A Man Or A Mouse?

Posted: 10 Mar 2010 07:25 AM PST

The EURUSD held the 100 hour MA below at the 1.3613 and is back up testing the high for the day.  Of course the market has seen this before only to get scared and move back down.  So expect the customary profit takers.  A breakk would target 1.3654 which is a consolidation area for the pair  A move back down, well it has the 1.3613 level as continued support.
Is the market a man or a mouse?  I would so welcome a break just to make things interesting but it is not … [visit site to read more]

Video: Tata Drives Sensex Into Positive Territory

Posted: 10 Mar 2010 07:24 AM PST

India’s BSE Sensex index was one of asia’s largest gainers this session due to a boost in Tata Consultancy Services. … [visit site to read more]

Strong Chinese Exports Cause Aussie Dollar To Soar

Posted: 10 Mar 2010 07:21 AM PST

Yesterday's price action in the currencies versus the dollar was a drag, man… We did, however, see the higher yielding currencies begin to move away from the pack of currencies led by the euro (EUR). That move higher by the likes of Australia (AUD), Brazil (BRL), South Africa (ZAR), and others, carried over through the overnight sessions, so, as we start today, they are stronger versus the dollar… In fact, the Aussie dollar is near a 7-week high this morning.
Another thing helping to … [visit site to read more]

First Solar Wins Project

Posted: 10 Mar 2010 07:15 AM PST

First Solar Inc. (NASDAQ:FSLR) has signed a contract with Pacific Gas & Electric Company (NYSE:PCG) to supply renewable electricity from a 300 MW utility-scale photovoltaic solar power facility in Southern California . The Desert Sunlight project is near the Desert Center in eastern Riverside County, California.
 
First Solar will develop the project with a total capacity of 550 megawatts, enough to power approximately 160,000 area homes – or about 480,000 residents. The other 250 MW … [visit site to read more]
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