Daily Markets - Financial News And Opinions |
- Sony Partially Exits LCD Plant
- Comstock Stays Neutral
- Public Service Refunding Debt
- Investing In Uranium: Breaking The Stigma Of Nuclear Power
- Cubist Ends Drug Trial
- March ETF Roundup: Launches, Filings, And Closures
- Northrop Grumman Gets Contract
- The Fed In Hot Water
- Morning Stock Market Movers: Symantec, Mylan, Hartford Financial Services Group
- Shell’s Perdido Project Starts Up
- Immucor Reports In Line
- Australian Dollar: The Downside Prevails
- Canadian Dollar: The Downside Prevails
- Forex Trading: GBPUSD Moves Higher And Tests Upside Trendline
- Initial Jobless Claims Still Falling
- Inital Jobless Claims Still Falling
- Liberty Signs Lease With Inmark
- Video: NYSE Opening Bell Market Monitor: KMX, RIMM
- How UNG Lost 20% In March
- EURUSD Cross: Keeping It Simple
- Forex Trading: USDCAD Moves Below Trendline Support.
- Video: Borders Announces Mixed 4Q Profit Results
- Mortgage Rates: Headed Higher
- Video: Asian Markets Close In Positive Territory
- E.Z And U.K. Manufacturing Expansion Reaches Decade High Levels As Global Recovery Continues
- Crude Oil Breaks Out Higher. Will Gold Prices Follow?
| Sony Partially Exits LCD Plant Posted: 01 Apr 2010 09:51 AM PDT According to the Financial Times, in an effort to lower cost, Sony Corp. (NYSE:SNE) is expected to sell its liquid crystal display (LCD) plant, located in Japan to its competitor Kyocera Corp. (NYSE:KYO). According to sources, Kyocera will purchase the Yasu plant, which manufactures small LCD panels used in mobile phones from Sony. However, neither Sony nor Kyocera provided any comments on the sale. The sources said that Sony will not sell the rest of its small-size LCD operations. … [visit site to read more]
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| Posted: 01 Apr 2010 09:36 AM PDT We maintain our Neutral recommendation on Comstock Resources Inc. (NYSE:CRK) with a target price of $33. Comstock has clearly emerged as a pure-play onshore operator following the divestiture of its offshore Gulf of Mexico assets in 2008, with a resource-play focused production base. Comstock's major position in the prolific Haynesville Shale play and existing Cotton Valley centric East Texas producing assets provides it with a multi-year inventory of low-risk development drilling … [visit site to read more]
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| Posted: 01 Apr 2010 09:21 AM PDT Public Service Enterprise Group Inc. (NYSE:PEG) has announced refunding $250 million of its outstanding $800 million senior notes at a lower coupon rate while deferring the maturity date. PSEG Power LLC, a wholly-owned subsidiary of Public Service Enterprise commenced an offer to exchange up to $250 million of Senior Notes due 2011 with a coupon rate of 7.75%. The notes will be exchanged with newly-issued Senior Notes due 2020 which would have a coupon rate of only 5.125%. The exchange … [visit site to read more]
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| Investing In Uranium: Breaking The Stigma Of Nuclear Power Posted: 01 Apr 2010 09:11 AM PDT Want an explosive reaction?
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| Posted: 01 Apr 2010 09:06 AM PDT Cubist Pharmaceuticals Inc. (NASDAQ:CBST) has stopped a mid-stage trial of one of its pipeline candidates, CB-500,929 (ecallantide). The drug was being studied for lowering blood loss in patients undergoing cardiac surgery using cardiopulmonary bypass (CPB). The decision to stop the trial was taken following a review of safety and efficacy data from two phase II trials – CONSERV 1 and CONSERV 2. However, this does not impact the 2010 R&D cost guidance as it did not include the cost of … [visit site to read more]
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| March ETF Roundup: Launches, Filings, And Closures Posted: 01 Apr 2010 09:02 AM PDT After a few speed bumps early in 2010, ETFs are back on track and traveling full steam ahead. In the first three months of 2010, nearly 60 new ETFs have been launched, which is already equivalent to nearly half funds to hit the market over the course of 2009. The recent SEC decision to halt approval on products using derivatives may slow this pace a bit, but April promises to be another very active month for new ETF launches. Below, we … [visit site to read more]
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| Northrop Grumman Gets Contract Posted: 01 Apr 2010 08:51 AM PDT Northrop Grumman Corp. (NYSE:NOC) has been awarded a contract by the U.S. Army to provide training development, instruction and analysis to artillery observers and electronic warfare specialists at the Joint Fires Center of Excellence (COE) in Fort Sill, Oklahoma. The Joint Fires COE contract is an indefinite delivery/indefinite quantity contract with a potential value of more than $250 million over five years. The Joint Fires COE focuses on imparting training to all the military … [visit site to read more]
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| Posted: 01 Apr 2010 08:42 AM PDT The Fed has finally came clean. It now admits it bailed out Bear Stearns – taking on tens of billions of dollars of the bank's bad loans – in order to smooth Bear Stearns' takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion of taxpayer dollars bailing out the banks, even months before Lehman Brothers collapsed. The Fed also took on billions of dollars worth of AIG securities, also before the official … [visit site to read more]
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| Morning Stock Market Movers: Symantec, Mylan, Hartford Financial Services Group Posted: 01 Apr 2010 08:37 AM PDT Mylan, Inc. (NYSE:MYL) - Shares of the global pharmaceutical company rallied 1.7% at the start of the trading session to secure a new 52-week high of $23.33. The increase in Mylan’s share price this morning fueled investor demand for call options on the stock. Options traders honed in on call options and purchased more than 6,700 contracts at the April $24 strike for an average premium of $0.22 apiece. Investors long the calls are prepared to amass profits should Mylan’s shares continue to … [visit site to read more]
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| Shell’s Perdido Project Starts Up Posted: 01 Apr 2010 08:36 AM PDT Energy major Royal Dutch Shell Plc. (RDS.A) announced first production from its massive Perdido platform in the Gulf of Mexico following more than a decade of work. The $3 billion development, which boasts of several industry firsts, lies in about 8,000 feet of water about 200 miles south of the Texas coast. Perdido is the world’s deepest offshore drilling and production facility and the most remote producing platform in the Gulf of Mexico with a projected economic life of about 20 … [visit site to read more]
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| Posted: 01 Apr 2010 08:21 AM PDT Immucor Inc. (NASDAQ:BLUD) announced third quarter 2010 (ending in Feb 2010) earnings per share (EPS) of 28 cents, in line with the Zacks Consensus Estimate and a penny higher than the year ago quarter. Net income for the quarter was $20.1 million, compared with $19.5 million for the same quarter in 2009. The company reported $80.5 million in revenues, an increase of 7% from $75.3 million in the year-ago period. The increase in revenues was primarily based on price increases and a … [visit site to read more]
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| Australian Dollar: The Downside Prevails Posted: 01 Apr 2010 08:17 AM PDT |
| Canadian Dollar: The Downside Prevails Posted: 01 Apr 2010 08:17 AM PDT |
| Forex Trading: GBPUSD Moves Higher And Tests Upside Trendline Posted: 01 Apr 2010 08:09 AM PDT To topside trendline is being tested again in the GBPUSD. Either we hold or we don't. Low risk trade opportunity.
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| Initial Jobless Claims Still Falling Posted: 01 Apr 2010 08:07 AM PDT Initial claims for unemployment insurance fell by 6,000 last week to 439,000. Since last week’s numbers were revised slightly higher from 442,000 to 445,000, one could also argue that the decline was really 3,000. In either case it is a moderate decline, and one that is largely in line with expectations. As such, it should not have a major impact on the market. The four-week moving average fell by 6,750 to 447,250. After peaking about a year ago, initial claims fell sharply for the … [visit site to read more]
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| Inital Jobless Claims Still Falling Posted: 01 Apr 2010 08:07 AM PDT Initial claims for unemployment insurance fell by 6,000 last week to 439,000. Since last week’s numbers were revised slightly higher from 442,000 to 445,000, one could also argue that the decline was really 3,000. In either case it is a moderate decline, and one that is largely in line with expectations. As such, it should not have a major impact on the market. The four-week moving average fell by 6,750 to 447,250. After peaking about a year ago, initial claims fell sharply for the … [visit site to read more]
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| Liberty Signs Lease With Inmark Posted: 01 Apr 2010 08:06 AM PDT Liberty Property Trust (NYSE:LRY), a leading real estate investment trust (REIT), has recently signed a long-term lease agreement for 24,000 square feet of space at Eagle Hill Business Park, a multi-tenant warehouse park in North Carolina. The deal was signed with Inmark Inc., a leading packaging and related services offering company.
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| Video: NYSE Opening Bell Market Monitor: KMX, RIMM Posted: 01 Apr 2010 08:03 AM PDT The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Posted: 01 Apr 2010 08:00 AM PDT March was one of the best months in recent memory for most investors. Equity markets surged on renewed consumer confidence and continued strong demand from emerging markets. The ETFdb 60 Index, a benchmark measuring the performance of asset classes available through ETFs, climbed 3% during the month, an impressive gain that was held in check by the significant bond allocation in the index.
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| EURUSD Cross: Keeping It Simple Posted: 01 Apr 2010 07:35 AM PDT Figure 1 is a weekly chart of the EURUSD cross rate. Figure 1. EURUSD/ weekly Key pivot points are identified with the large black dots over the price bars. These are areas of support and resistance. The most recent pivot comes in at 1.35447; a weekly close over this level suggests that Euro will gain strength against the Dollar or the Dollar weakens against the Euro. Either way, look for risk assets (commodities and equities) to out perform as the Dollar … [visit site to read more]
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| Forex Trading: USDCAD Moves Below Trendline Support. Posted: 01 Apr 2010 07:26 AM PDT The USDCAD moved below trendline support at the 1.0102 level and scooted to ta new low of 1.0087. However, the price has rebounded and is looking to test the backside of the trendline. A move back above would be disappointing.
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| Video: Borders Announces Mixed 4Q Profit Results Posted: 01 Apr 2010 07:22 AM PDT Borders Group Incorporated (BGP) announced that its 4Q profit rose while revenue fell from the year ago period. … [visit site to read more]
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| Posted: 01 Apr 2010 07:17 AM PDT In “Mortgage-Bond Yield Spreads Jump as Fed Exits Market,” Bloomberg reports that yields on Fannie Mae and Freddie Mac mortgage securities jumped by the most relative to benchmark rates in five weeks as the Federal Reserve's unprecedented buying of housing debt drew to a close [yesterday].” Yet according to a key decision-maker at one of the world’s largest money managers, there’s not much to be concerned about. Spreads on agency mortgage bonds will widen "a bit" and become more … [visit site to read more]
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| Video: Asian Markets Close In Positive Territory Posted: 01 Apr 2010 07:06 AM PDT The major Asian/Pacific markets were on the upside this session following a boost in commodity-related stocks. … [visit site to read more]
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| E.Z And U.K. Manufacturing Expansion Reaches Decade High Levels As Global Recovery Continues Posted: 01 Apr 2010 05:34 AM PDT The U.K. purchaser's manager's survey rose to a 15 year high of 57.2 from 56.5 signaling continued expansion in the manufacturing sector. Exports rising for a seventh month continues to drive output as improving demand from Europe and the U. S is adding to existing strength from emerging markets. Fundamental Headlines • CEOs See Pay Fall Again – Wall Street Journal
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| Crude Oil Breaks Out Higher. Will Gold Prices Follow? Posted: 01 Apr 2010 05:03 AM PDT Crude oil prices have taken out major technical resistance, exposing the way higher above the $91 figure, while gold and silver flirt with the possibility of their own technical breakouts as prices test above key topside barriers.
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