Daily Markets - Financial News And Opinions

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• New York Times Lowers Stake
• Public Storage To Acquire Assets
• Tetra Tech Wins Orders
• No Running Out Of “Gas” For This Energy Bull Market!
• AES Solar Energy Gets Financing
• For Now, Emerging Markets Leading The Way
• Stock Market News Briefs: Alcoa Inc., Arena Resources Inc, Deutsche Bank AG, Exelon Corporation, Hospira Inc, Sandridge Energy Inc., Apple Inc., InterMune, Inc.
• VeriFone Gets Transportation Systems
• JPMorgan Steps Into LNG Market
• Kindle App For The Tablet PC
• Apple’s IPad Hits Stores
• Forex Trading: USDCAD Moves Toward The Parity Again
• Forex Trading: GBPUSD Keeps Gap In Place
• Fund.com Acquires Weston Capital: More Active ETFs In The Works
• Stock Buy: Endo Pharmaceuticals
• Bear Of The Day: Badger Meter, Inc. (BMI)
• Stock Buy: Herbalife, Inc.
• Bull Of The Day: Hasbro, Inc. (HAS)
• Stock Buy: Bank Of Montreal
• Stock Buy: Lennox International

New York Times Lowers Stake Posted: 05 Apr 2010 08:00 AM PDT The New York Times Company (NYSE:NYT), a diversified media company, recently declared the sale of a portion of its minor stake in New England Sports Ventures (NESV) to Henry F. McCance, Chairman of Greylock Partners, a venture capital firm.  The New York Times Company sold 50 of its 750 units held in NESV that owns the Boston Red Sox, Fenway Park and other sports properties. The deal whose terms were not disclosed has lowered the company's stake in NESV to 16.6% from 17.8%, which it had … [visit site to read more]

Public Storage To Acquire Assets Posted: 05 Apr 2010 07:45 AM PDT Public Storage (NYSE:PSA), a real estate investment trust (REIT), has recently announced plans to acquire 30 self-storage facilities spanning across 1.9 million square feet of space for $189 million, including debt assumption of approximately $126 million.  About 28 of the 30 facilities (1.8 million square feet) are located in the Los Angeles area and the adjacent Southern California market. With the acquisition, the company intends to strengthen its position in these markets, increasing … [visit site to read more]

Tetra Tech Wins Orders Posted: 05 Apr 2010 07:30 AM PDT Tetra Tech Inc (NASDAQ:TTEK) announced that one of its subsidiaries has obtained a contract to clean up radioactive contamination at selected Navy and Defense Department locations. Tetra Tech said it was one of five contractors to have got the work, which covers locations within the U.S. Naval Facilities Engineering Command’s Southwest and Atlantic zones, as well as Defense Department locations nationwide. The contract, including the base period and four years worth of options, is worth a combined … [visit site to read more]

No Running Out Of “Gas” For This Energy Bull Market! Posted: 05 Apr 2010 07:17 AM PDT Fundamentals It appears that energy traders are looking for better economic conditions later this year, as they continue to bid-up Gasoline futures prices despite a surprising gain in U.S. inventories last week. The most recent Energy Information Administration Energy Stocks report showed that U.S. gasoline inventories rose by 313,000 barrels last week, surprising analysts who were expecting a draw of 1.3 million barrels. Much of the rise in gasoline inventories can be attributed to an increase … [visit site to read more]

AES Solar Energy Gets Financing Posted: 05 Apr 2010 07:15 AM PDT AES Solar Energy Ltd., a joint venture between AES Corporation (NYSE:AES) and private equity firm Riverstone Holdings LLC, announced that it has received a financing deal for about $233 million to fund the construction of a solar energy project in Italy.   AES Solar will construct the 43 MW Cellino San Marco (CSM) project in the Puglia region of Italy. Construction on the project is underway and the project is expected to start commercial operations by the end of fiscal 2010. AES Solar is … [visit site to read more]

For Now, Emerging Markets Leading The Way Posted: 05 Apr 2010 07:15 AM PDT Given the not very confidence-inspiring "recovery" taking place in the US — as witnessed in part with the recently released job market figures — writer Robert Lenzner keeps his eye on a more convincing prize in the emerging markets. While industrialized nations struggle to return to what was an already unsustainable normalcy, the emerging markets… like the BRICs… already continue to post sound growth numbers and offer more potentially profitable opportunities for investors… even … [visit site to read more]

Stock Market News Briefs: Alcoa Inc., Arena Resources Inc, Deutsche Bank AG, Exelon Corporation, Hospira Inc, Sandridge Energy Inc., Apple Inc., InterMune, Inc. Posted: 05 Apr 2010 07:04 AM PDT  Apple (NASDAQ:AAPL) shares may trade higher Monday after Jaffray & Co. analyst Gene Munster said the company probably sold more than twice as many iPad tablets during its debut weekend than some analysts had expected  Exelon Corp. (NYSE:EXC) announced that it expects to take a first-quarter charge of $65 million on income tax expenses resulting from the US health-care legislation  Hospira (NYSE:HSP) announced that it completed the acquisition of a unit of Orchid Chemicals … [visit site to read more]

VeriFone Gets Transportation Systems Posted: 05 Apr 2010 07:00 AM PDT VeriFone Holdings, Inc. (NYSE:PAY) announced the acquisition of the remaining minority interest in VeriFone Transportation Systems (VTS) and aligned all VTS operations within VeriFone's Integrated Systems organization. Financial terms of the deal were not disclosed. Based in San Jose, California, VeriFone designs, markets and services a transaction automation system that facilitates electronic payments between consumers, merchants and financial institutions. In 2005, VTS was formed as a joint … [visit site to read more]

JPMorgan Steps Into LNG Market Posted: 05 Apr 2010 06:45 AM PDT Last week, JPMorgan Chase & Co. (NYSE:JPM) and Cheniere Energy, Inc. (LNG) entered into a multi-year agreement to jointly exploit their expertise in the global liquefied natural gas (LNG) market.   The deal provides capacity rights for JPMorgan at Sabine Pass in Louisiana, the largest LNG terminal in North America, while Cheniere will benefit from J.P. Morgan’s financial expertise and client relationships.   The details of the deal however, have not been disclosed.   Estimate … [visit site to read more]

Kindle App For The Tablet PC Posted: 05 Apr 2010 06:30 AM PDT As promised, Amazon.com's (NASDAQ:AMZN) Kindle app for the tablet PC became available just before the launch of Apple Inc's (NASDAQ:AAPL) iPad. So users could download the app just as easily as Apple's own e-book software called iBooks. This follows the launch of the Kindle app for Macs a few days ago.   The Kindle app for the tablet is an app with a difference. It takes care of aesthetics, such as background color and brightness and combines this with practical requirements, such as … [visit site to read more]

Apple’s IPad Hits Stores Posted: 05 Apr 2010 06:16 AM PDT Apple Inc. (NASDAQ:AAPL) launched its much-hyped Apple tablet computer called the iPad on April 3 in the U.S. Shares of AAPL surged and had hit a near record high, rising further after hours last Thursday to $236.50. Reviews of the iPad were favorable, with some exceptions. Features and Availability The iPad is available only in the U.S. for now and is priced at just $499 for the 16GB model, going up to $599 for the 32GB model and $699 for 64GB (only for the Wi-Fi model). It has a battery that … [visit site to read more]

Forex Trading: USDCAD Moves Toward The Parity Again Posted: 05 Apr 2010 05:49 AM PDT The price of oil is approaching $86 and this along with the dollar selling has the USDCAD making new lows for this move and brings the parity level back into focus. The low for the day has moved to 1.0049. The prior low for this move extended to 1.0060.  This is the lowest level since July 22nd 2008. Off the charts the price has support before parity at the 1.0029 area which is a bottom trendline off the hourly chart.   The price has been below the 100 hour MA since March 29th … [visit site to read more]

Forex Trading: GBPUSD Keeps Gap In Place Posted: 05 Apr 2010 05:26 AM PDT The GBPUSD has kept the gap in place from Friday's closing level. The high in the last hour of trading came in at  1.5205. The low today came in at the 1.5222 level. Normally these gaps are filled at some point.  The GBPUSD gapped higher on widening of the David Cameron's Conservative Party's lead for the upcoming election.  PM Gordon Brown is scheduled to announce an election to be held on May 6th tomorrow.   If there is not a clear victor, the fear is the UK … [visit site to read more]

Fund.com Acquires Weston Capital: More Active ETFs In The Works Posted: 05 Apr 2010 04:21 AM PDT The new developments are coming thick and fast for AdvisorShares and its parent company, Fund.com (FNDM.OB). On March 30th, Fund.com announced that it has acquired Weston Capital Management which is based out of West Palm Beach, Florida. Weston is involved in originating and marketing fund of funds as well as single-manager hedge funds and also raises capital to seed new hedge funds. Working together with AdvisorShares, Fund.com now has the ability to provide hedge funds as well as … [visit site to read more]

Stock Buy: Endo Pharmaceuticals Posted: 04 Apr 2010 10:00 PM PDT Endo Pharmaceuticals (NASDAQ:ENDP) continues to trade at great valuations and have plenty of earnings momentum. Company Description Endo Pharmaceuticals makes branded and generic drugs to treat and manage pain. The Pennsylvania-based company has about 1,200 employees and a market cap of $2.6 billion. Still a Great Value Estimates surged after Endo reported its quarterly results in February, now projecting 12% growth this year. The Zacks Consensus rose 31 cents on the news, to $3.17. Shares of ENDO … [visit site to read more]

Bear Of The Day: Badger Meter, Inc. (BMI) Posted: 04 Apr 2010 10:00 PM PDT We are downgrading our recommendation on Badger Meter Inc. (NYSE:BMI) to Underperform from Neutral as we anticipate it to perform well below the broader market. Badger Meter’s vulnerability to macroeconomic conditions as well as delayed customer orders is adversely affecting its top-line growth. The company recorded a 16.6% year-over-year reduction in total revenues during the fourth quarter of 2009. Moreover, intense competition from other well-established players, heavy dependence on key … [visit site to read more]

Stock Buy: Herbalife, Inc. Posted: 04 Apr 2010 10:00 PM PDT Herbalife, Inc. (NYSE:HLF) recently hit a new 52-week high above $47 after shares jumped above a short-term level of resistance on strong Q4 results from late February and a bullish next-year estimate. Fourth-Quarter Results Shares of HLF rebounded from a key trend line after the company reported better than expected Q4 results on February 23. Sales were up 23% from last year to $630.9 million. Earnings also came in strong at 98 cents, 8% ahead of the Zacks Consensus Estimate. The company has … [visit site to read more]

Bull Of The Day: Hasbro, Inc. (HAS) Posted: 04 Apr 2010 10:00 PM PDT We are upgrading our recommendation on Hasbro (NYSE:HAS) to Outperform. The company’s fourth quarter earnings were well ahead of the Zacks Consensus Estimate, reflecting a better-than-expected growth in revenue. Most of its product lines, especially its movie-based toys, experienced strong demand. Its strong product line-up and strategic association with Discovery, Universal Pictures and Electronic Arts promise good things for investors. Additionally, the company’s meaningful international growth … [visit site to read more]

Stock Buy: Bank Of Montreal Posted: 04 Apr 2010 10:00 PM PDT Bank of Montreal (NYSE:BMO) has been hitting new 52-week highs as the global recovery appears to be heating up. I last reviewed BMO in July 2009 just as the recovery was taking hold in the financial sector. Despite a run-up in the stock, the company still has an attractive P/E ratio of 13.9, which is under the industry average. Bank of Montreal Saw Improving Business in the First Quarter of 2010 On Mar 2, Bank of Montreal reported its first quarter results which ended Jan 31, 2010. The Canadian … [visit site to read more]

Stock Buy: Lennox International Posted: 04 Apr 2010 10:00 PM PDT Lennox International (NYSE:LII) delivered better-than-expected results for the fourth quarter, and analysts have been raising their estimates for 2010 and 2011. In the last two months, the Zacks Consensus Estimate for 2010 is up 6 cents, or 2.8%, to $2.17, and the 2011 Zacks Consensus Estimate has increased 12 cents, or 4.6%, to $2.76. Those estimates represent annual growth of 22.3% and 27.1%, respectively. Company Description Lennox is a leading global provider of climate control solutions. The … [visit site to read more]

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