Daily Markets - Financial News And Opinions |
- Singapore Stock Market: Our Focus For Today Is On Offshore And China Sector
- Foreign Markets Surge Again: What You Can Do To Profit From Them
- March ETF Data: Back In The Black
- Robert Reich: “No Jobs Recovery”
- DOD Vs. DIA: A Better Dow Jones ETF?
- Before The iPad, There Was The iWheel …
- PSCo Plans To Buy Calpine Assets
- CarMax Clears Estimates
- Breakout Momentum And A Delayed NFP Reaction Carries Crude To New Highs
- Crucial Time For Cell Therapeutics
- Mutual Manipulation
- Rating Action On Tower Group
- BHP Billiton Is Poised To Pick Up Big Gains On The Back Of A Global Commodities Bull
- Inflation Meter Soars Over The Red Line
- Huge RNAi Breakthroughs!
- Reliant Energy Gets $20M Grant
- Labor Pains
- U.S. Auto Sales Hit 7-Month High
- Daily ETF Roundup: VXX Slides, UNG Gets An Unusual Boost
- Hospira Settles Patent Dispute
- Tax Deadline Approaches: Bring Us Back To 1913
- FITB Joins Western Union’s Network
- Video: NYSE Closing Bell Market Monitor: ARD, HOG, AXP
- Redpoint Sitting In The Sweet Spot
- Rogers Downgraded To Neutral
- Harry Winston’s 4Q Loss Narrows
- Pacifying The Panda: U.S. Companies Must Take A New Approach To China
- FTI Consulting Expands In Asia
- The Iron Ore Market: A New Pricing System Ushers In The End Of An Era
- APD Extends Offer For ARG
- China Fire’s Encouraging Outlook
- UNG Surges On Natural Gas Reporting Overhaul
- Break Up The Banks
- Stock Buy: 99 Cents Only Stores
- FX Options Weekly Outlook
| Singapore Stock Market: Our Focus For Today Is On Offshore And China Sector Posted: 05 Apr 2010 06:16 PM PDT Morning Highlights
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| Foreign Markets Surge Again: What You Can Do To Profit From Them Posted: 05 Apr 2010 06:01 PM PDT Martin here with a quick follow-up to last Monday’s “The Great Dichotomy! Again!” While U.S. markets have gained a bit more in the last few days, the key foreign markets I told you about have literally catapulted higher. So now they’re outperforming the Dow by an even wider margin. Indeed, since the beginning of last year, while the Dow is up 20.9 percent … China’s blue chips, up 39.1 percent, have beat the Dow by nearly two to one …
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| March ETF Data: Back In The Black Posted: 05 Apr 2010 05:16 PM PDT After a sluggish start to the year, the ETF industry picked up the pace in March, as strong performances from global equity markets and a wave of fresh cash inflows sent industry asset levels soaring. According to data compiled by IndexUniverse.com, total ETF assets stood at nearly $821 billion at the end of March, and total inflows for the month exceeded $20 billion. That brings total 2010 cash flows back into the black, after huge outflows in January (the majority of them attributable to … [visit site to read more]
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| Robert Reich: “No Jobs Recovery” Posted: 05 Apr 2010 05:01 PM PDT Where is the jobs growth? If we listen to many in Washington or the general media, Friday’s employment report (indicating +162k in non-farm payroll) was a turning point in our labor markets. Was it really? Let’s listen to former Labor Secretary Robert Reich and get his take. Although I have a decidedly different point of view than Reich on many economic and political topics, I do believe that Reich speaks from his heart and presents what he believes is the truth as opposed to … [visit site to read more]
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| DOD Vs. DIA: A Better Dow Jones ETF? Posted: 05 Apr 2010 04:03 PM PDT When reporting on the performance of the U.S. stock market, everyone from the Wall Street Journal to local anchormen generally refer to the Dow Jones Industrial Average, one of the oldest and most widely-recognized stock benchmarks. So it's not surprising that one of the most popular ETFs available to U.S. investors is the Dow Jones Industrial Average ETF (DIA), a fund that tracks the storied blue chip benchmark. DIA has about $8.5 billion in assets and an average daily volume of more than … [visit site to read more]
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| Before The iPad, There Was The iWheel … Posted: 05 Apr 2010 04:01 PM PDT |
| PSCo Plans To Buy Calpine Assets Posted: 05 Apr 2010 03:53 PM PDT Public Service Company of Colorado (PSCo), a subsidiary of Xcel Energy Inc. (NYSE:XEL), has agreed to buy two Colorado power plants of Calpine Corporation (NYSE:CPN) for $739 million. The two power plants near Denver currently provide power to PSCo under power purchase agreements. The plants to be purchased are the 621-megawatt Rocky Mountain Energy Center located near Hudson, Colorado and the 310-megawatt Blue Spruce Energy Center located in Aurora, Colorado. Collectively the 931 MW plants provide … [visit site to read more]
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| Posted: 05 Apr 2010 03:37 PM PDT CarMax Inc. (NYSE:KMX) showed a net income of $48.8 million or 26 cents per share (excluding special items) in the fourth quarter of its fiscal year 2010 ended February 28, 2010 compared to $38.5 million or 17 cents per share (excluding special items) in the same quarter a year ago. With this, the automotive retailer has inched past the Zacks Consensus Estimate of 25 cents per share. CarMax's results were driven by improved customer traffic and sales execution along with successful reduction of … [visit site to read more]
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| Breakout Momentum And A Delayed NFP Reaction Carries Crude To New Highs Posted: 05 Apr 2010 03:25 PM PDT A strong open to the new week for capital markets after an extended holiday weekend would encourage a strong performance from crude oil. The third consecutive advance for this benchmark commodity has established remarkable momentum at fresh 17-month highs.
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| Crucial Time For Cell Therapeutics Posted: 05 Apr 2010 03:20 PM PDT April is crucial for Cell Therapeutics (CTIC), as the US Food and Drug Administration (FDA) decides on the approvability of pixantrone by April 23, 2010. The company is seeking approval of its lead candidate, pixantrone for the treatment of relapsed or refractory aggressive non-Hodgkin's Lymphoma (NHL) in patients who have not responded to other treatment options. However, we are not quite optimistic about the product gaining approval. Last month, the FDA's Oncologic Drugs Advisory … [visit site to read more]
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| Posted: 05 Apr 2010 03:15 PM PDT - Front page headline on Friday's Wall Street Journal proclaimed a big up-tick worldwide in the manufacturing sector.
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| Posted: 05 Apr 2010 03:03 PM PDT Last week, rating agency A.M. Best affirmed the ratings of Tower Group Inc. (NASDAQ:TWGP) and its subsidiaries. The ratings action includes the affirmation of issuer credit ratings (ICR) of "bbb-” on Tower Group Inc. A.M.Best views favorably the acquisitions made by Tower Group over the last few years, enabling the company to diversify its business mix. The acquisitions made last year — CastlePoint, Hermitage and Specialty Underwriters Alliance — have helped the company to expand outside the … [visit site to read more]
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| BHP Billiton Is Poised To Pick Up Big Gains On The Back Of A Global Commodities Bull Posted: 05 Apr 2010 03:01 PM PDT Face it, commodity prices are in a secular rally - and there are three big reasons why. Loose Monetary Policy First, let’s talk about policy. … [visit site to read more]
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| Inflation Meter Soars Over The Red Line Posted: 05 Apr 2010 03:00 PM PDT There has been a lot of discussion around here lately about inflation, mostly about who is divided up into the "We're freaking doomed!" camp (me), and who isn't in that camp, but instead are over in the other camp, which is, apparently, mostly everybody else, all of whom I consider to be morons who think that because the government, which has every reason to lie and whose entire history is the deplorable story of one government lie and corruption after another, says that prices are only … [visit site to read more]
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| Posted: 05 Apr 2010 02:58 PM PDT - Once again, huge scientific news has disrupted my plans. Last week, I put off giving you additional news on the quest for an Alzheimer's disease cure as well as some fascinating and related data on the health benefits of coffee. The reason, as you know, was that two companies in our portfolio announced truly historic breakthroughs in stem cell science.
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| Reliant Energy Gets $20M Grant Posted: 05 Apr 2010 02:49 PM PDT NRG Energy Inc's (NYSE:NRG) retail electricity business, Reliant Energy, has received a $20 million grant from the U.S. Department of Energy (DOE) to develop and deliver innovative energy solutions for Texas electricity customers. As a part of the contract, Reliant Energy plans to expand the rollout of smart energy solutions, using the smart grid technology, to Texas residents. Reliant is the only competitive electricity provider in Texas to have been selected to receive a grant through … [visit site to read more]
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| Posted: 05 Apr 2010 02:42 PM PDT - Last Friday, the Labor Department informed the nation that the U.S. economy added 162,000 jobs in March – the biggest gain in three years.
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| U.S. Auto Sales Hit 7-Month High Posted: 05 Apr 2010 02:30 PM PDT Light vehicle sales in the U.S. auto industry surged 24.3% to 1.07 million units (10.8 million units at seasonally adjusted annual rate) in March 2010. This was driven by an aggressive incentive policy adopted by the safety-recall hit Toyota Motor Corp. (NYSE:TM) to woo back its lost customers, pent-up demand from the winter storms affected February, economic stability and a weak comparable month (March 2009) mired in U.S. recession. In absolute terms, this is the best month since August last … [visit site to read more]
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| Daily ETF Roundup: VXX Slides, UNG Gets An Unusual Boost Posted: 05 Apr 2010 02:20 PM PDT Equity markets got a boost on Monday after Friday's jobs report lived up to the hype, sending the Dow near the key 11,000 level. Investor focus now turns to an upcoming earnings season and Federal Reserve meetings, likely to be carefully scrutinized in coming months. Apple stock got a lift after the company said it sold about 300,000 iPads on the first day the product was available.
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| Hospira Settles Patent Dispute Posted: 05 Apr 2010 02:12 PM PDT Hospira (NYSE:HSP) has reached an agreement with Sanofi-Aventis (NYSE:SNY) to settle a patent dispute for the US sales of oxaliplatin injection, a generic version of Sanofi-Aventis’ Eloxatin. Per the settlement, Hospira will not sell oxaliplatin injection in the US until June 30, 2010. However, the drug can be re-launched on Aug. 9, 2012. Hospira has been involved in a patent litigation with Sanofi-Aventis for the past few months. Although Hospira received a favorable decision in August 2009, the … [visit site to read more]
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| Tax Deadline Approaches: Bring Us Back To 1913 Posted: 05 Apr 2010 02:01 PM PDT Page 1 of the original IRS 1040 form from 1913 appears above. There were only four pages total including all forms and instructions, view it here). In contrast, just the current 1040 instructions, without any forms, runs 175 pages. Individual income tax rates started at 1% in 1913, and the maxiumum marginal income tax rate was only 6% on incomes above $500,000 ($11 million in today’s dollars). The personal exemption was $3,000 for individuals ($66,000 in today’s dollars) and … [visit site to read more]
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| FITB Joins Western Union’s Network Posted: 05 Apr 2010 01:59 PM PDT Last week, Western Union Co. (NYSE:WU) announced the completion of its previously announced service offering through Fifth Third Bancorp (NASDAQ:FITB). Western Union entered into an agreement with Fifth Third Bank last year to provide money remittance service to its customers. The service will be open across all the 1,300 bank locations of Fifth Third in 12 states. Western Union will provide the remittance services through Cash-to-Cash, Account-to-Cash and Account-to-Account. The rollout of this … [visit site to read more]
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| Video: NYSE Closing Bell Market Monitor: ARD, HOG, AXP Posted: 05 Apr 2010 01:53 PM 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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| Redpoint Sitting In The Sweet Spot Posted: 05 Apr 2010 01:42 PM PDT Last month, Zacks Small-Cap Research initiated coverage of Redpoint Bio (RPBC) with an Outperform rating and $0.50 price target. Despite the low stock price, we believe that Redpoint is poised for a major breakout based on several key drivers in 2010. An All-Natural Sweetener From our point of view, there are three near-term shots on goal, one of which could result in sizable upfront payments to Redpoint. The first is the licensing of RP44, which Redpoint's disclosed in January … [visit site to read more]
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| Posted: 05 Apr 2010 01:26 PM PDT We downgrade our recommendation for Rogers Communications Inc. (NYSE:RCI) to Neutral as a result of increased competition in the Canadian wireless market. Canadian wireless rates are among the highest in the world. In a bid to improve service and prices through competition, the Canadian federal government has licensed four new operators. Out of this four, Globalive — which will use the Wind Mobile brand — intends to offer service in most of the country. Canadian cable TV segment is also getting … [visit site to read more]
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| Harry Winston’s 4Q Loss Narrows Posted: 05 Apr 2010 01:08 PM PDT Harry Winston Diamond Corp. (NYSE:HWD) reported fiscal 2010 fourth-quarter results after the closing bell on Thursday. The company posted a narrower net loss of $3.6 million, or 4 cents per share, compared to a net loss of $73.0 million, or $1.19 per share in the year-ago quarter, which included an impairment charge of $93.8 million. However, the result came in behind the Zacks Consensus Estimate for a profit of 10 cents per share. Toronto-based Harry Winston is a specialist diamond enterprise … [visit site to read more]
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| Pacifying The Panda: U.S. Companies Must Take A New Approach To China Posted: 05 Apr 2010 01:01 PM PDT There’s no question about what kind of profit opportunities the Chinese market offers. Moreover, the willingness of U.S. companies to partner with China in the pursuit of profit is equally blatant. So why is it that more U.S. businesses feel less welcome in China now than they did four years ago? The fact is that in the past four years, China’s economy has continued to grow by leaps and bounds, while a humiliating financial collapse and soaring debt have tarnished much of the shine … [visit site to read more]
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| FTI Consulting Expands In Asia Posted: 05 Apr 2010 12:50 PM PDT On April 1, FTI Consulting Inc. (NYSE:FCN) announced the acquisition of Baker Tilly Hong Kong Business Recovery Ltd. (BTHKBR), a Hong Kong based forensic and litigation consulting company. Post the acquisition, BTHKBR will be merged with the Forensic and Litigation Consulting segment of FTI Consulting in Asia. Moreover, BTHKBR will now be known as FTI Consulting (Asia) Ltd. However, the terms and value of the deal remain undisclosed. The acquisition of BTHKBR is expected to be a strategic … [visit site to read more]
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| The Iron Ore Market: A New Pricing System Ushers In The End Of An Era Posted: 05 Apr 2010 12:36 PM PDT For decades, mining iron ore was exceedingly unglamorous.
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| Posted: 05 Apr 2010 12:35 PM PDT Industrial gas producer Air Products and Chemicals (NYSE:APD) has extended the expiration date of its tender offer for all outstanding shares of Airgas Inc. (NYSE:ARG). Air Products' latest offer stands at $60 per share − all in cash − and has been extended from April 9 to June 4, 2010. Airgas is a supplier of specialty gases and welding and other related equipment. Air Products has been chasing smaller rival Airgas since February 2010, when it launched a hostile bid of $5.12 billion. … [visit site to read more]
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| China Fire’s Encouraging Outlook Posted: 05 Apr 2010 12:20 PM PDT China Fire & Security Group, Inc. (NASDAQ:CFSG) reported results for the fourth quarter and fiscal year ended Dec 31, 2009. Earnings Revenues decreased as a result of the delay in signing the $92 million contract with … [visit site to read more]
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| UNG Surges On Natural Gas Reporting Overhaul Posted: 05 Apr 2010 12:14 PM PDT The first quarter of 2010 has not been kind to investors in the United States Natural Gas Fund (UNG), which has seen shares repeatedly touch new lows as a medley of still weak demand, surging supplies, and–of course–contango in natural gas futures markets. The fund finished the first quarter down nearly 30%, with the majority of that loss coming last month (see How UNG Lost 20% In March). UNG's steady slide has been attributable to a number of factors, but chief among these has been … [visit site to read more]
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| Posted: 05 Apr 2010 12:13 PM PDT A fight is brewing in Washington – or, at the least, it ought to be brewing – over whether to put limits on the size of financial entities in order that none becomes "too big to fail" in a future financial crisis.
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| Stock Buy: 99 Cents Only Stores Posted: 04 Apr 2010 10:00 PM PDT 99 Cents Only Stores (NYSE:NDN) continues to trade near its 52-week as the results from its 2008 “Profit Improvement Plan” reverse a multi-year decline in income. The company’s Q4 results from early February included a 40% earnings surprise.
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| Posted: 04 Apr 2010 03:00 PM PDT Jason Ayres, founder of OptionSource.net, provides a look a head at this week’s FX activity. … [visit site to read more]
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