Daily Markets - Financial News & Opinions |
- What The Yield Curve Says About ETFs
- Accenture Revs Down, EPS Beats
- GM To Compensate For Opel?
- PMI Sells Entire RAM Holdings
- India’s Mobile Users Exceed 500M
- Korea Electric Wins UAE Deal
- Berkshire Cuts Jobs
- Stocks To Watch On Monday 28 December
- Bunge’s Expansion Binge In Brazil
- BofA Sues Mortgage Insurer MGIC
- A.M. Best Affirms Allstate Ratings
- Zions Finishes Exchange Offer
- China’s Exports To Return To Growth Next Year, But How Much Will It Matter?
- Navistar Exceeds Expectations
- Leap Wireless Initiated As Neutral
- Stock Market News Briefs: Allstate Corporation (The), Deutsche Bank AG, Federal Home Loan Mortgage Corporation, International Business Machines Corporation, Natl Westminster Pfd, Piper Jaffray Companies, Apple Inc., Cal-Maine Foods, Inc., EBay Inc.
- Fannie & Freddie Find Support
- Mutual Funds: Top Balanced Asset Allocation Funds
- Stock Buy: DeVry Inc.
- Stock Buy: OPNET Technologies
- Stock Buy: Zhongpin Inc.
- Bear Of The Day: The Andersons (ANDE)
- Stock Buy: RINO International Corp.
- Bull Of The Day: DeVry, Inc. (DV)
| What The Yield Curve Says About ETFs Posted: 28 Dec 2009 09:45 AM PST Signs of economic recovery are blossoming everywhere, and one key indicator is showing strong numbers. The indicator also reveals that investors are no longer so pessimistic about the future and feeling inclined to take on more risk in the markets and exchange traded funds (ETFs). The yield curve, which measures the difference between shorter-term 2-year notes and longer-term 10-year note yields, narrowed a little after touching a record high on Tuesday, reports Hibah Yousuf for … [visit site to read more]
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| Accenture Revs Down, EPS Beats Posted: 28 Dec 2009 09:00 AM PST Accenture (ACN) has reported first quarter 2010 EPS of 67 cents, exceeding the Zacks Consensus Estimate of 65 cents. Accenture reported first quarter 2010 total revenue of $5.75 billion, down 11.0% from $6.47 billion reported in the year ago quarter. Revenue declined across all its operating groups, with Communication & High Tech revenue declining 15.0% from the year ago quarter. Financial Services revenue declined 11.0% year-over-year, Health & Public Services revenue … [visit site to read more]
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| Posted: 28 Dec 2009 03:45 AM PST The Russian bank, Sberbank, has asked for voluntary compensation from General Motors (GM) for the scrapped deal to sell 55% of the latter's stake in Opel to the former. The bank has threatened to sue the automaker otherwise. Last month, GM halted its plan to sell a 55% stake in Opel to Magna (MGA), backed by Russia's Sberbank, and decided to continue running the unit on its own. GM had been in a dilemma while choosing Magna as the preferred bidder for Opel. The German … [visit site to read more]
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| Posted: 28 Dec 2009 03:30 AM PST PMI Mortgage Insurance Co., a division of PMI Group Inc. (PMI), said on Thursday that it has sold its entire investment in RAM Holdings Ltd. (RAMR), the holding company for RAM Reinsurance Ltd. PMI had impaired its investment in RAM Holdings in 2008 and reduced the carrying value of the investment to zero. The proceeds from the sale would primarily add to PMI's liquidity. The move is in line with PMI’s focus on its core U.S. mortgage insurance operations. PMI Group had … [visit site to read more]
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| India’s Mobile Users Exceed 500M Posted: 28 Dec 2009 03:15 AM PST India's telecom sector has reached a major milestone recently with the country's mobile user base surpassing 500 million, boosted by a staggering 17.7 million new activations in Nov 2009. According to the Telecom Regulatory Authority of India ("TRAI”), India's mobile customer base crossed 506 million at the end of November. Currently, 43 out of every 100 Indians own a cell phone. Including roughly 37 million fixed lines, India now has a total of 543 million telephone lines, a … [visit site to read more]
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| Posted: 28 Dec 2009 03:00 AM PST Korea Electric Power Corp. (KEP) led consortium has won a $20.4 billion contract for developing a civilian nuclear program for the United Arab Emirates. Other members of the Korea Electric Power consortium are Hyundai Engineering and Construction, Samsung and Doosan Heavy Industries. The consortium beat a number of prominent bidders like General Electric Co. (GE), Hitachi Ltd. (HIT).
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| Posted: 28 Dec 2009 02:45 AM PST Year to date, Warren Buffet's Berkshire Hathaway Inc. (BRK.A) – a conglomerate of 77 operating companies – has shed approximately 8.6% of its workforce. A number of Berkshire subsidiaries have announced job cuts affected by the weakening economy. Netjets, the unprofitable plane-leasing unit, cut approximately 800 jobs as its business got drained by reduced demand for flights. Fruit of the Loom reported that excess inventory has led the company to eliminate approximately … [visit site to read more]
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| Stocks To Watch On Monday 28 December Posted: 28 Dec 2009 07:40 AM PST ( click to enlarge ) ADC Telecommunications (ADCT) had a very bullish move last week breaking several resistance lines with large volume. The stock has broken out of a 4 month downtrend. ADCT has made a transition from down trend to uptrend. The price is currently above the 5 day simple moving average, 10 day simple moving average and 20 day simple moving average respectively. The MACD chart is still showing an up trend with the MACD indicator above its signal line and is … [visit site to read more]
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| Bunge’s Expansion Binge In Brazil Posted: 28 Dec 2009 02:30 AM PST Bunge Limited (BG), a leading global agribusiness and food company in the U.S., has recently acquired 100% ownership in Usina Moema Participacoes S.A., a holding company that wholly owns one sugarcane mill in Brazil and has ownership interests in five others. With the acquisition, Bunge has obtained approximately 60% effective share of the total capacity of the facilities, which altogether have an annual crushing capacity of 15.4 million metric tons. With the deal, Bunge has fulfilled … [visit site to read more]
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| BofA Sues Mortgage Insurer MGIC Posted: 28 Dec 2009 02:15 AM PST Bank of America (BAC) has filed a lawsuit with the Securities and Exchange Commission against Mortgage Guaranty Insurance Corporation, the principal mortgage insurance subsidiary of MGIC Investment Corporation (MTG). It said in a filing that the mortgage insurer had rejected a meaningful number of claims filed on a portfolio of mortgages for reasons it considered inappropriate under its contract. Most of the claims rejections were for mortgages that were subprime or without documents, … [visit site to read more]
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| A.M. Best Affirms Allstate Ratings Posted: 28 Dec 2009 07:00 AM PST On Dec 22, 2009, A.M. Best Co. affirmed the ratings of Allstate Corporation's (ALL) subsidiary Allstate New Jersey Insurance Group (Allstate New Jersey) and its associates namely, Allstate New Jersey Insurance Co., Allstate New Jersey Property and Casualty Insurance Co., Encompass Insurance Co. of New Jersey and Encompass Property and Casualty Insurance Co. of New Jersey.
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| Posted: 28 Dec 2009 01:45 AM PST In an attempt to enhance its financing position in the capital market, Zions Bancorporation (ZION) on Dec 22, 2009 announced its preliminary results of the stock exchange offer from its Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock (Series A Preferred Stock) to its common stock. The company had offered approximately 5.6 million outstanding Depositary Shares representing its Series A Preferred Stock to common stock, with an aggregate liquidation preference of approximately … [visit site to read more]
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| China’s Exports To Return To Growth Next Year, But How Much Will It Matter? Posted: 28 Dec 2009 06:31 AM PST Shipments from the Red Dragon were hit hard in the first 11 months this year, falling 18.8% compared to a year earlier, but are expected to bounce back and grow 6% in 2010, China’s State Information Center said today (Monday). However, exports from China, which is largely considered to be the world’s manufacturing floor, are becoming less and less relevant as the Red Dragon moves toward a more balanced economy. For instance, imports are expected to grow 11% next year, reflecting a … [visit site to read more]
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| Posted: 28 Dec 2009 01:30 AM PST Navistar International Corporation (NAV) showed a profit of $128 million or $1.77 per share, before special items, for the fourth quarter of fiscal 2009 ended Oct 31, 2009. With this, the truck maker exceeded the Zacks Consensus Estimate of $1.53 per share. The company has also fared well compared to the year-ago profit of $42 million or 56 cents per share, before special items. Navistar accredited the improvement in profit to the recouped commercial truck volume and sustained … [visit site to read more]
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| Leap Wireless Initiated As Neutral Posted: 28 Dec 2009 01:16 AM PST We initiate our coverage on Leap Wireless (LEAP) with a Neutral recommendation. The company is one of the prominent players in the low-cost unlimited prepaid wireless market serving roughly 4.7 million customers based on the latest quarterly statistics. However, the company reported disappointing results in the last quarter with net loss exceeding the Zacks Consensus Estimate. Leap Wireless, together with its subsidiaries, provides digital wireless communication services in 34 … [visit site to read more]
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| Posted: 28 Dec 2009 01:06 AM PST A number of health care IPOs were filed over the weekend, including a $90 million filing from Rules-Based Medicine (RULE), a $80 million IPO from Alimera Sciences (ALIM). Dehaier Medical Systems (DHRM) expects its IPO to be price at $7-$9. The Royal Bank of Scotland (RBS) reportedly is planning to sell about $4.8 billion in assets over the coming months. Piper Jaffray (PJC) maintained its “overweight” advice on eBay (EBAY), with a $33 price … [visit site to read more]
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| Posted: 28 Dec 2009 01:01 AM PST The U.S. Treasury announced late last week that it would offer significant new financial support to the stressed mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE), notwithstanding their performances for the next 3 years. This move by the Fed follows the recent repayment of bailout money by the nation's biggest financial institutions. To keep Fannie Mae and Freddie Mac afloat, the Treasury has removed the $200 billion caps on the capital availability of both companies. … [visit site to read more]
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| Mutual Funds: Top Balanced Asset Allocation Funds Posted: 27 Dec 2009 05:26 PM PST Today we are featuring top-performing “Asset Allocation” balanced mutual funds, which primarily seek total return and use an optimization model to choose the best way to distribute assets among various classes.
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| Posted: 27 Dec 2009 04:00 PM PST DeVry Inc. (DV) recently reported higher fall enrollment with total student enrollment jumping 22.7% to a record 64,003 students. The company is also seeing a higher Zacks Consensus Estimate since DV was last featured as a Growth and Income earlier this month.
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| Posted: 27 Dec 2009 04:00 PM PST OPNET Technologies, Inc. (OPNT)
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| Posted: 27 Dec 2009 04:00 PM PST Zhongpin Inc. (HOGS) has been expanding its operations in China by building a new pork plant in Tianjin and a new food oil plant in Changge in the Henan province.
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| Bear Of The Day: The Andersons (ANDE) Posted: 27 Dec 2009 04:00 PM PST The Andersons, Inc. (ANDE) reported third-quarter earnings of 7 cents per share, well below the Zacks Consensus Estimate of 39 cents and the prior-year EPS of 70 cents. Apart from the Grain & Ethanol Group, all other segments posted an operating loss for the quarter.
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| Stock Buy: RINO International Corp. Posted: 27 Dec 2009 04:00 PM PST Rino International Corp. (RINO) has continued to trend higher since last being featured as a momentum stock 2 months ago, remaining within striking distance of the 52-week high at $35 on strong Q3 results from mid November.
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| Bull Of The Day: DeVry, Inc. (DV) Posted: 27 Dec 2009 04:00 PM PST DeVry (DV) is a leading provider of post secondary education in North America and commands a strong portfolio of well-established brands. Moreover, DeVry is also taking initiatives to diversify revenue streams and optimize its real estate strategy, which augurs well for future operating performance.
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