Dec 29, 2009

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

VIX Below 20 For 3 Straight Days - 1st Time Since May 2008

Posted: 28 Dec 2009 09:01 PM PST

The CBOE Volatility Index (^VIX) fell below 20 last week for the first time since August 28, 2008, almost sixteen months ago, and closed below 20 for three days in a row for the first time since late May 2008 (see chart above). See Forbes story below:
CHICAGO (Reuters) - The VIX, Wall Street’s favorite measure of investor anxiety, ended last Tuesday (Dec. 22) at the lowest levels since before last year’s implosion of Lehman Brothers sparked the worst financial crisis in more than … [visit site to read more]


Washington’s The Boss? We’re The Boss!

Posted: 28 Dec 2009 08:01 PM PST

I almost vomited this morning upon reading the lead article in The Wall Street Journal. The principles and values I cherish and which I believe are the keys to our long term economic prosperity are under continual siege. The American dream is under siege, as well. Our nation’s economic future has never looked so cloudy and uncertain. Why? As The WSJ writes, After the Bailouts, Washington’s the Boss:
Only as the recession recedes will it become fully evident how permanently the state’s … [visit site to read more]

Can Oil Keep Its Head Of Steam Into 2010?

Posted: 28 Dec 2009 07:01 PM PST

Fundamentals

Crude Oil futures are holding firm near the $78 a barrel mark, aided by a slightly weaker Dollar and cold temperatures. The cold blast that has hit much of the US suggests that demand for heating fuels, such as heating oil, may rise. Energy traders have been greeted with solid economic data recently, most notably a better than expected initial claims figure, which shows the lowest unemployment claims in nearly 15 months. Traders may take this with a grain of salt, as many … [visit site to read more]

Video: The Day Ahead: US Consumer Confidence

Posted: 29 Dec 2009 12:00 AM PST

The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]

Why We Have A Fear Of Keynes

Posted: 28 Dec 2009 06:01 PM PST

Time Magazine quoted its Man of the Year, Chairman Bernanke, regarding his boyhood interest in the Great Depression. He had heard his family discuss a town full of shoe factories that closed during the depression leaving the community so poor that its children went barefoot. He said he kept asking why they didn’t just open the factories and make kids shoes. Good question.

A depression does seem paradoxical. People can’t spend because they don’t have the income. They don’t have the … [visit site to read more]

Forex Trading: Concern About Increasing U.S. Debt Pressures US Dollar

Posted: 28 Dec 2009 05:49 PM PST

The U.S. Dollar traded most of the day in a range and finished lower. With the lack of major economic news this week, global investors were forced to worry about another round of U.S. debt. Throughout the week, the Treasury is going to add to its already massive debt pile by another $118 billion.
Aside from the debt worries, trading is thin and lifeless ahead of the New Year holiday. One can only speculate as to where the Forex markets want to go, but without major player participation, … [visit site to read more]

Intraday S&P 500 Fibonacci Projection And Retracement Example

Posted: 28 Dec 2009 05:30 PM PST

I know - the title sounds… less than fun… but for those of you interested in learning intraday Fibonacci methods, today gave a great example of both the Retracement and Projection concept, and I wanted to share that lesson with you.

Let’s take a look at the SPY intraday chart (5-min) for December 28th:

If you feel overwhelmed, let’s take it one step at a time.

Starting with the intraday high near $113.00, we begin both grids.  We’ll start with the simpler to explain - the … [visit site to read more]

Why Proctor & Gamble Is Still The One To Watch

Posted: 28 Dec 2009 04:01 PM PST

It’s hard to find a more blue, blue chip company than the world’s largest consumer goods company, Procter & Gamble (PG).

Around for 172 years now, the company does business with over four billion customers in more than 180 countries. And it brings in $79 billion in annual sales from its ventures, 30% of which come from developing markets.

In addition:

Brands like its Pantene, Wella and Head & Shoulders account for one-fifth of all hair product sales around the … [visit site to read more]

The Trade Of The NEXT Decade

Posted: 28 Dec 2009 04:00 PM PST

No, dear reader…it's not that simple. It never is.
That's true of almost everything….
The bond market has begun to sell off. The big question is: what does it mean?
Is it A sell-off? Or THE sell-off?
We've done well with our simple trade for the last ten years. We bought gold. We sold stocks. But what's ahead?
Will that be the best trade for the NEXT 10 years too? Or is it time to sell bonds, rather than stocks?
Hmmm….
Stocks have lost value over the last ten years. US stocks were … [visit site to read more]

Vale Sees Higher Production

Posted: 28 Dec 2009 03:28 PM PST

Vale S.A. (VALE), the world’s largest iron-ore supplier, reportedly plans to hike its iron ore production to full capacity next year, helped by the global economic recovery. Vale’s iron ore production fell by about 30 million tons this year from about 302 million tons in 2008. However, the company believes that next year, its iron ore production will rebound to about 300 million tons.

Returning to growth after the impact of the global financial shock, Vale had last month announced strong … [visit site to read more]

Agnico Updates Guidance

Posted: 28 Dec 2009 03:13 PM PST

Recently, Canadian gold producer Agnico-Eagle (AEM) announced its gold production and cost guidance. With major capital projects nearing completion, Agnico expects gold production to double in 2010. Agnico-Eagle is nearing the end of a significant construction phase, during which the company has spent more than $2 billion since the beginning of 2007. With most of the mines operating steadily, the remaining capital expenditure is expected to be primarily for expansions.

Last month, Agnico … [visit site to read more]

Cartoon: We Need The Milk

Posted: 28 Dec 2009 03:01 PM PST

Source: Glenn Foden, December 23, … [visit site to read more]

Mutual Funds: Top Income Equity Funds

Posted: 28 Dec 2009 10:00 AM PST

Today we are featuring top-performing “Income” equity mutual funds , which primarily invest in equity securities of companies in search of income.
Investors can find such funds by checking out the entire list of the Zacks #1 Rank Income Equity Funds.
3 Solid Samples
ING T. Rowe Price Equity Income A (ITEAX) seeks high total return for taxable investors on an after-tax basis through a diversified portfolio of stocks. It was incepted in December 1998.
The fund operates as a diversified fund and … [visit site to read more]

Yields Up, Stocks Down

Posted: 28 Dec 2009 10:00 AM PST

Now that fears of a deflationary spiral have waned, a rising Treasury note yield is bearish for stocks. Rising Treasury yields increase mortgage rates and decrease the attractiveness of rate-sensitive stocks like utilities, banks, and REITs.
A rising trend in Treasury yields is especially dangerous when you consider that the biggest threat to the economy in 2010 is the backlog of mortgage foreclosures that have yet to work their way through the system. As these homes work their way through the … [visit site to read more]

Conoco Boosts LNG Development

Posted: 28 Dec 2009 09:58 AM PST

Following the purchase of an additional 9% stake in exploration permits for WA-314-P and WA-315-P in the Browse basin at the beginning of this month, ConocoPhillips (COP) experienced success on its latest well (Poseidon-2) in the drilling program with partner Karoon Gas.
 
Poseidon-2 is an appraisal well that has been testing for the presence of gas. The drilling of this well followed the successful drilling of the Poseidon-1 well earlier this year.
 
Poseidon-2 struck a 20 meter … [visit site to read more]

NCR Gets New CMO

Posted: 28 Dec 2009 09:47 AM PST

At a recent press release, NCR Corporation (NCR) named Richard Bravman as its chief marketing officer and vice president of corporate development. He will be reporting to NCR executive vice president, John Bruno.

In this position, Bravman will head departments such as business development, corporate communications and marketing, government relations and field marketing and will be also framing the business development strategy.

In terms of market share, NCR Corp has already been the … [visit site to read more]

CNOOC Momentum Continues

Posted: 28 Dec 2009 09:31 AM PST

China's largest offshore oil explorer CNOOC Ltd. (CEO) has signed an agreement with Venezuelan state oil company PDVSA for joint development of oil and gas reserves in the Latin American country. The company will help Venezuela to develop the Boyaca 3 oil block in the Orinoco belt, a large heavy-crude basin in eastern Venezuela.
 
In terms of production and reserve growth, CNOOC has a very impressive track record. When the company was listed in 2001, its reserves and production were … [visit site to read more]

Compuware Links To OpSource

Posted: 28 Dec 2009 09:15 AM PST

The Web performance division of Compuware Corporation (CPWR), Gomez, signed a partnership agreement with OpSource, a leader in cloud operations. 

Under the agreement, OpSource will resell Gomez's Web performance management solution to its enterprise customers and use it to validate and monitor its own cloud performance of its own managed hosting and cloud operations services. 

Gomez expects that through this partnership with OpSource, it will be able to bring powerful … [visit site to read more]

Beating The Dow By More Than Six To One!

Posted: 28 Dec 2009 02:01 PM PST

Martin here with a brief review of global markets for 2009 and some basic thoughts regarding the risks and opportunities in 2010.

As we have been writing for many years, and as we highlighted in our Weiss Global Forum this past summer (click here for transcript), key emerging markets are - and should continue to be - greatly outperforming the Dow across the board.

Starting at the close of trading in 2008 and excluding the last few days of trading this year which are … [visit site to read more]

Trying To Revive An Economic Corpse

Posted: 28 Dec 2009 09:00 AM PST

We're coming to the end of the year…
What have we learned? Here's how we would put it, a four-word lesson that applies to almost everything:
"It's Not That Simple."
We were on pretty solid ground – at least as far as understanding what was going on in the markets and the economy – up until the middle of 2009. The Bubble Epoque led to the Bust Epoque…just as we thought it would.
But our view was too simplistic. We expected the feds to react…and stocks to bounce. Both of those … [visit site to read more]

Progress Software Beats

Posted: 28 Dec 2009 01:57 PM PST

Progress Software Corp. (PRGS) posted GAAP earnings of $16.7 million for the fourth quarter of fiscal 2009, compared to GAAP earnings of $6.4 million in the year-ago quarter. Excluding special items, earnings per share came in at 50 cents, which topped the Zacks Consensus Estimate by 14%, or 6 cents.
The company reported a 2% reduction in total revenues to $136.8 million during the quarter, compared to $139.4 million in the year-ago period. The decrease was primarily caused by a 7% decline in … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: AMR, FNM, M

Posted: 28 Dec 2009 06:43 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Setback For Gilead’s Pipeline

Posted: 28 Dec 2009 08:40 AM PST

Gilead Sciences (GILD) received a major pipeline setback with disappointing results from a phase III trial of darusentan in which it failed to achieve its primary endpoint. The drug was being studied under an international clinical trial (DAR-312) for the treatment of resistant hypertension. As a result of the setback, Gilead is considering the option of dropping the program so that its resources can be utilized for other potential candidates rather than conducting another intensive phase III … [visit site to read more]

FDA Backs Crestor’s Wider Use

Posted: 28 Dec 2009 08:24 AM PST

AstraZeneca (AZN) received a positive opinion from the US Food and Drug Administration's (FDA) Endocrinologic and Metabolic Drugs Advisory Committee (EMDAC) regarding the expanded use of Crestor. AstraZeneca is seeking approval for Crestor to treat patients with normal cholesterol levels but having other risks of heart disease. The committee voted 12-4 in favor of Crestor after analyzing its benefit against possible risk in some patients. However, the committee was concerned that … [visit site to read more]

Boeing Bags B-52 Contract

Posted: 28 Dec 2009 01:07 PM PST

Boeing Co. (BA) has won a $750 million U.S. Air Force contract for modernization and maintenance of the B-52 Stratofortress bomber fleet’s weapons system. Boeing's B-52 Stratofortress is a long-range, subsonic, jet-powered strategic bomber, which first entered combat in 1965 over Southeast Asia during the Vietnam War.
The $750 million order will boost the Integrated Defense Systems segmental order backlog. Integrated Defense Systems order backlog decreased from $70 billion at the end of the … [visit site to read more]

Utility ETFs Making A Swift Comeback

Posted: 28 Dec 2009 01:01 PM PST

Defensive sector exchange traded funds (ETFs) are surging in the marketplace. The once-languid utility sector has been shoving and pushing aside other major sectors, and it now stands on top. At least for now.

Preliminary figures show that the Dow Jones U.S. Utilities Index is the best performer for December, reports Kate Gibson for MarketWatch. Some analysts view the move into defensive areas like utilities and telecoms as less to do with economic uncertainty and more to do with fund … [visit site to read more]

NeuroMetrix Ready For Public Sale

Posted: 28 Dec 2009 07:50 AM PST

NeuroMetrix, Inc. (NURO) announced that it has filed paperwork to register roughly 4.3 million shares, which constitute approximately 20% of its common stock outstanding, for public sale. These shares are presently owned by one of the Waltham, Mass.-based NeuroMetrix's largest shareholders, New York hedge fund manager Deerfield Management.
The share registration for public sale conforms to the terms of the private financing agreement with Deerfield, and doesn't indicate an unexpected exit … [visit site to read more]

BSX Settles DOJ Investigation

Posted: 28 Dec 2009 07:34 AM PST

Boston Scientific Corp. (BSX) recently settled the U.S. Department of Justice (DOJ) investigation pertaining to certain post-market surveys conducted by Guidant Corporation before being acquired by Boston Scientific in 2006. Per the terms of the settlement, Boston Scientific has agreed to pay $22 million to DOJ, which was already being fully accrued. The investigation began in 2005.
Boston has also decided to enter into a Corporate Integrity Agreement (CIA) with the Office of Inspector … [visit site to read more]

FERC OKs LNG Terminal & Pipeline

Posted: 28 Dec 2009 07:18 AM PST

Pacific Connector Gas Pipeline LP, a limited partnership between Williams Pacific Connector Gas Pipeline LLC, PG&E Strategic Capital Inc. and Fort Chicago LNG II U.S. LP, announced that it has received approval from the Federal Energy Regulatory Commission (FERC) to construct and operate the Pacific Connector Gas Pipeline. The proposed natural gas pipeline will be a 234-mile, 36-inch diameter pipeline. 
The FERC has also authorized the Jordan Cove Energy Project LP, a limited … [visit site to read more]

PATH Filings In Maryland & Virginia

Posted: 28 Dec 2009 12:03 PM PST

Allegheny Energy Inc. (AYE) and American Electric Power (AEP), the joint venture partners for the multi-state transmission line, have proceeded with its PATH (Potomac-Appalachian Transmission Highline) project in Maryland and Virginia. The companies have taken several actions which will further align the project's regulatory review activities and support their efforts to complete the project by June 2014.
The PATH project consists of a 765-kilovolt transmission line extending from the … [visit site to read more]

The Real Story Behind Solar Energy In 2010

Posted: 28 Dec 2009 12:01 PM PST

By the time 2009 is in the books, the record will show that solar energy stocks endured a tough year. That’s hardly a surprise, given that so many Wall Street analysts (yours truly not among them) lambasted the sector for much of the year.

Analysts also expect the carnage to continue into 2010, and are predicting losses for as many as half of the world’s solar companies.

The “thought process” of a Wall Street analyst - and I use that title loosely - goes something like … [visit site to read more]

Our 2009 Christopher Columbus Prize

Posted: 28 Dec 2009 07:00 AM PST

Beginning a new tradition, we give an award to the person who has done the dumbest thing in the financial world during the preceding 12 months. We call it the "Christopher Columbus Prize," named after the mariner who didn't know where he was going, didn't know where he was when he got there, and as Churchill pointed out, did it all at government expense.
Anyone can make a mistake. But to make a truly colossal blunder you need the support of the taxpayer. That's why TIME magazine named … [visit site to read more]

Video: AT&T Site Not Selling IPhone To NYC Residents

Posted: 28 Dec 2009 04:59 PM PST

AT&T has pulled the plug on online sales of the iPhone in NYC although it remains unknown exactly why the company isn’t selling the devices to NYC residents online. … [visit site to read more]

Video: Front Month Crude Rally Continues

Posted: 28 Dec 2009 04:57 PM PST

Front month crude prices continued to rally this session on a weaker dollar and recent snowstorms lifting energy futures demand. … [visit site to read more]

Online Sales Shine For Retail

Posted: 28 Dec 2009 06:47 AM PST

As we had seen with the monthly retail sales numbers in the recent past, the retail picture may not be as bad as the dismal labor market would indicate. In a happy development for some if not all retailers, retail sales data released this morning indicates that consumers spent 3.6% more on holiday shopping this year between the critical Thanksgiving and Christmas Eve period than they did last year.

The retail sales period in question had an extra day this year. And last year's holiday … [visit site to read more]

Infineon Raises Guidance

Posted: 28 Dec 2009 06:46 AM PST

Infineon Technologies (IFNNY) expects high-single-digit growth in group revenues in the first quarter of 2010 compared with the fourth quarter of 2009. It also expects a high-single-digit margin for its combined segment result.
Previously, Infineon had projected its revenues and combined segment result to be nearly on the same level as they were in the fourth quarter.
The increase in guidance is mainly driven by the automotive as well as the industrial and multi-market segments.

In the … [visit site to read more]

Opnext Teams Up With JDSU

Posted: 28 Dec 2009 06:30 AM PST

Opnext, Inc. (OPXT) recently announced that it participated with JDS Uniphase (JDSU) in the successful operation of IEEE-compliant 100GE optics which further validates the feasibility of pluggable optics for 100GE. 

This successful transmission includes transmitting and receiving Ethernet traffic at 100GE through an Opnext compliant optical module using the JDSU Optical Network Test instrument with 100GE module.
 
JDSU 100GE test suite evaluates and verifies components, … [visit site to read more]

Netflix Rallies On Takeover Rumor

Posted: 28 Dec 2009 06:15 AM PST

The DVD and streaming video company – Netflix Inc (NFLX) rose 1.41% and closed at $56.89 amid rumors that it might be taken over by Amazon.com Inc (AMZN). Netflix has surged more than 6% following its buy out rumor. 

Other potential acquirers for Netflix assets may be Apple (AAPL), Blockbuster (BBI), Wal-Mart Stores (WMT), Google (GOOG), Microsoft (MSFT), Comcast (CMCSA), CBS (CBS) and Sony (SNE). We expect the stock to surge higher and get back to its recent … [visit site to read more]

Why Gold Will Be The “Greatest Trade Ever”

Posted: 28 Dec 2009 11:01 AM PST

Forget about all the forecasts being made for 2010. Here’s my prediction for 2015: An entirely new name - John A. Paulson - will grace the coveted top of the annual Forbes billionaires list.

And the gap between Paulson and the runner-up billionaire will be huge.

Everyone knows that Bill Gates and Warren Buffet are America’s - and the world’s - two richest men. But the financial crisis of 2008 and 2009 was not kind to either of them, eradicating $17 billion of their combined net … [visit site to read more]

Limitless Government Stimulus

Posted: 28 Dec 2009 06:00 AM PST

Say what you want about the U.S. Treasury, but this much is true: They give damn good Christmas presents.
Just ask Fannie Mae and Freddie Mac. If you haven't heard – which many people haven't, since the Treasury quietly pushed this through on Christmas Eve – Fannie and Freddie now have access to unlimited government funding. Seriously, limitless.
After being put into conservatorship in September of last year, Fannie and Freddie were given a nice $200 billion government cushion. (The two … [visit site to read more]

Teva Expands Cancer Portfolio

Posted: 28 Dec 2009 11:00 AM PST

In a move to expand its branded product offering, generic player Teva Pharmaceutical Industries Ltd. (TEVA) recently entered into a global license and collaboration agreement with OncoGenex Pharmaceuticals, Inc. (OGXI). Teva and OncoGenex are collaborating for the development and commercialization of OncoGenex' late stage pipeline candidate OGX-011 which is being studied for the treatment of different types of cancer. 

OGX-011 has been co-discovered with Isis Pharmaceuticals … [visit site to read more]

Video: Nikkei Strengthens On Light Asian Trade

Posted: 28 Dec 2009 03:50 PM PST

Japan’s Nikkei 225 index posted a heavy gain this session while the rest of Asia remeained quiet or closed to begin the calendar week. … [visit site to read more]

FDA Delays Nuvigil Decision

Posted: 28 Dec 2009 05:45 AM PST

The U.S. Food and Drug Administration (FDA) recently informed Cephalon, Inc. (CEPH) that it will require more time to review the supplemental new drug application (sNDA) submitted by the company for Nuvigil. Cephalon had filed the sNDA in June 2009, seeking to expand Nuvigil's label as a treatment for improving wakefulness in patients with excessive sleepiness associated with jet lag disorder due to eastbound travel. 

The FDA had initially granted priority review status to the … [visit site to read more]

Video: Dollar Rises On Data & Speculation

Posted: 28 Dec 2009 03:36 PM PST

The US dollar continued to rise this session following positive holiday sales figures & growing speculation that the US economic recovery will make US assets more attractive. … [visit site to read more]

Ruth Improves Financial Position

Posted: 28 Dec 2009 05:30 AM PST

Ruth's Hospitality Group Inc. (RUTH), the operator of upscale casual-dining chains, in order to improve its financial position and flexibility has taken prudent steps to raise $69.7 million through a stock sale to a private equity firm, a right offering to existing shareholders and the sale of its headquarters building.
 
The parent of Ruth's Chris Steak House agreed to issue $25 million of newly-created Series A 10% Convertible Preferred Stock, to Bruckmann, Rosser, Sherrill & … [visit site to read more]

An Incredible Year For Junk Bonds

Posted: 28 Dec 2009 10:17 AM PST

It is that time of year where investors look back at 2009 and ahead toward 2010.

In looking back at 2009, investors who were fortunate enough to time the March bottom have been able to take advantage of most or all of 68% gain in the S&P 500 index since that bottom. While stocks have been on a tear for the past 9 ½ months, I would hazard to guess that quite a few investors do not realize that for the most part, junk bonds have performed as well as equities during this … [visit site to read more]

Shire Seeks FDA Approval

Posted: 28 Dec 2009 05:15 AM PST

Shire Plc (SHPGY) recently submitted a biologics license application (BLA) with the U.S. Food and Drug Administration (FDA) for Replagal (agalsidase alfa) meant for treating the genetic disorder Fabry disease. 

Replagal is available in European markets since 2001.The drug is approved for the treatment of Fabry disease in 45 countries. In the United States, the drug is available to Fabry patients under an FDA-approved treatment protocol, and the company is also supporting emergency … [visit site to read more]

A Bounce Or A Bull Market?

Posted: 28 Dec 2009 05:13 AM PST

Most of us would have to say that it was a pretty nasty year, at least from a Christmas Letter point of view. None of our children got into Harvard. No one's team won the regional soccer championship. Nobody went to New Guinea to help the hill tribes reduce their rate of infant mortality.
And even after the success of our Trade of the Decade, we did not win a Nobel Prize in economics. We didn't even get a polite note of congratulations. Instead, zilch. Nada. No word. Probably got lost in … [visit site to read more]

Video: High Oil Prices & Strong Holiday Sales Boost The Markets

Posted: 28 Dec 2009 03:04 PM PST

Floor trader Alan Valdes attributes todays market rise to high oil prices & postive holiday season sales figures allowing investors to boost their portfolios. … [visit site to read more]

Macy’s Sells Distribution Facility

Posted: 28 Dec 2009 10:00 AM PST

Macy's Inc. (M) recently notified that it has completed the sale of its St. Louis-based distribution facility, measuring approximately one million-square-foot, for $2 million to 3728 Market Street LLC. The retailer in 2008 had shifted its distribution facility to Bridgeton. 

Initially, Macy's had asked for $12.7 million for the property. However, the building, which was put up for sale in late 2007 fell prey to the battered real estate market.
 
Macy's, which operates … [visit site to read more]

Merck Ends Deal With Arena

Posted: 28 Dec 2009 04:45 AM PST

Merck & Co (MRK) recently informed its partner Arena Pharmaceuticals (ARNA) that it was pulling out of a collaboration agreement pertaining to the development of an atherosclerosis drug. 

The decision by Merck to discontinue the development of the candidate, MK-1903, a niacin receptor agonist for treating atherosclerosis, followed disappointing results from a recently completed mid-stage study. The randomized, double-blind, placebo-controlled trial evaluated the safety, … [visit site to read more]

Ventas Augments Credit Facility

Posted: 28 Dec 2009 04:30 AM PST

Ventas Inc. (VTR), a leading healthcare real estate investment trust (REIT), recently increased its revolving credit facility to $1 billion. The first portion of the credit facility, which contains $765 million of borrowing capacity, is scheduled to mature in Apr 2012, while the balance would mature in Apr 2010. 

The increase in credit facility was made possible by a $50 million loan commitment by an unnamed financial institution, which joined the company's bankers as an … [visit site to read more]

Lindsay Gains From Mexico Project

Posted: 28 Dec 2009 04:15 AM PST

Lindsay Corporation (LNN) recently reported results for the first quarter of fiscal 2010. The company posted quarterly earnings of 53 cents per share, above the Zacks Consensus Estimate of 24 cents and year-ago earnings of 51 cents per share. The better than expected performance in the quarter was driven by strong revenues and margins in the infrastructure business as well as the company's cost-reduction initiatives. 

First quarter revenue of $86.0 million was down 26% from the … [visit site to read more]

Does “Catastrophe Lay Ahead” In 2010?

Posted: 28 Dec 2009 03:32 AM PST

In retrospect, the early 2000s bear an eerie resemblance to the early 1900s, and Martin Wolf describes in the Financial Times why that may be a problem. Much like then, there are ongoing and expensive colonial wars, and potential new superpowers emerging. When this occurred last century, even in the midst of relative peace, "catastrophe lay ahead: a world war; a communist revolution; a Great Depression; fascism; and then another world war."
Although it's only one perspective, and one … [visit site to read more]

US Companies To Repatriate Profits?

Posted: 28 Dec 2009 03:25 AM PST

Before I left on vacation, I shipped out with the thought that I was getting too stressed out over all this ridiculous deficit spending and so on… But, several readers reminded me that "venting" was good for me! HA! So… I'll get back to beating the drum for an end to deficit spending, and a repeal of 1913…
While I was gone, didn't Chris do a great job, by the way? I didn't really follow the currencies daily, only what Chris would say about them. I did notice that all the … [visit site to read more]
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