Dec 29, 2009

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

As Delhi Proves, Dividends Know No Borders

Posted: 29 Dec 2009 04:01 PM PST

While a lot of folks were spending December 25 opening presents, my family and I were hurriedly packing our bags and running off to the airport.

Sure, my daughter managed to score a few small presents before we left, but my wife and I would much rather give her the gift of travel whenever possible.

That’s why we decided to head to India this holiday season (with my in-laws in tow)!

Being here is a great way for all of us to bond with Disha’s family members who still live in … [visit site to read more]


Japan: Slowly Going Broke

Posted: 29 Dec 2009 03:00 PM PST

We reported that the US government would need to roll over $2.5 trillion worth of debt next year. We probably erred. The number was right, but it was meant to be over the next two years. During the next two years also, worldwide, banks need to roll over $7 trillion. Whether it is over one year or two years, we're talking big money.
Most people who bother to think about it are coming to the conclusion that this is very inflationary…and very bullish for gold. They think the Fed will need to … [visit site to read more]

Mutual Funds: Top Hartford Funds

Posted: 29 Dec 2009 02:07 PM PST

Hartford High Yield Bond A (HAHAX) seeks high current income with growth of capital as a secondary objective. It was incepted in September 1998.
The fund invests at least 80% of its assets in non-investment grade debt securities. Non-investment grade debt securities are those securities which are rated ‘Ba’ or lower by Moody’s Investors Service or ”BB” or lower by Standard and Poor, or securities which, if unrated, are determined by the fund advisers to be of comparable quality.
The fund has … [visit site to read more]

Options Trading: Understanding Gamma, The Change In Delta

Posted: 29 Dec 2009 02:01 PM PST

It is time again for another lesson on options. Let me first apologize for the lack of updates recently; with final exams and the holidays I have been a bit distracted. However, that is about to change, so let’s get started!

What is Gamma?

The Gamma of an option is directly related to the delta of an option. Gamma measures the change in the delta of an option as a stock moves up or down. It may sound confusing, but the basic application is relatively simple. If you have a call … [visit site to read more]

FLIR Acquires Directed Perception

Posted: 29 Dec 2009 09:00 AM PST

FLIR Systems, Inc. (FLIR) announced that it has acquired Directed Perception, Inc., a leading provider of pan-tilt motion control systems for commercial and military markets, for $20 million in cash.
Directed Perception, based in Burlingame, California, is a pioneer and leader in high-performance pan-tilts in security and surveillance, maritime, military, robotics and scientific instruments markets. The acquisition of Directed Perception will enhance and differentiate FLIR’s pan-tilt-zoom … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: PG, CVX, LCC

Posted: 29 Dec 2009 06:48 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]

Video: Ford’s Hybrid Sales Grow Despite Falling Market

Posted: 29 Dec 2009 06:42 PM PST

The Ford Motor Company revealed that it’s hybrid sales have continued to grow this year despite an industrywide slump. … [visit site to read more]

Video: Crude Prices Flat On Light Volume

Posted: 29 Dec 2009 06:42 PM PST

With an abbreviated trading week, volume was light and front month crude contracts were mostly unchanged during the session. … [visit site to read more]

Acergy Hits 52-Week High

Posted: 29 Dec 2009 08:40 AM PST

American Depositary Receipts (ADRs) of Acergy S.A. (ACGY) hit a 52-week high of $15.87 Monday. The oilfield contractor has seen its share price climb 58% since September, as investors have been buying shares of the company for its attractive fundamentals and positive outlook. The turnaround in fuel prices amid recent optimism about economic recovery have added to this bullish sentiment.
We currently have an Outperform recommendation on the ADRs, reflecting the company's strong leverage to … [visit site to read more]

Questcor Drug Gets Target Date

Posted: 29 Dec 2009 08:20 AM PST

Recently, Questcor Pharmaceuticals Inc (QCOR) announced that the U.S. Food and Drug Administration (FDA) has accepted the supplemental New Drug Application (sNDA) filed by Questcor seeking marketing approval for its drug Acthar (repository corticotrophin injection).
The application seeks FDA approval to sell the drug for treating infantile spasms (IS), a rare form of childhood epilepsy. The U.S. agency is expected to decide on whether to approve Acthar for this additional indication by June … [visit site to read more]

Petrobras Buys Ethanol Plant Stake

Posted: 29 Dec 2009 01:04 PM PST

Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. announced the purchase of interest in an ethanol plant for 150 million Brazilian reals ($84 million).
The acquisition consists of a 40.4% stake in the Total Agroindustria Canavieira-owned ethanol mill located in the municipality of Bambui (in the state of Minas Gerais), with a production capacity of 100 million liters of hydrated ethanol a year. The deal was struck by Petrobras’ fuel division, Petrobras … [visit site to read more]

The Mother Of All Balance Sheets

Posted: 29 Dec 2009 01:00 PM PST

The Federal Reserve's balance sheet has quietly ballooned back to near-record highs. The Fed announced yesterday that it's balance sheet expanded to $2.22 trillion last week, it's grossest level in nearly a year and just a hair from an all time high. Hmmm… if Mr. Bernanke assures us the recession is "very likely over," then why is the Fed balance sheet in crisis mode? What are they worried about? Here's the answer:

The Federal Reserve went from an essentially non-existent player … [visit site to read more]

Statoil Gaining Impetus At Snorre

Posted: 29 Dec 2009 07:43 AM PST

Statoil ASA (STO) plans to achieve its goal of stable NCS (Norwegian Continental Shelf) volumes through a combination of active exploration efforts for new reserves and effective field management of existing producing assets.
The company plans to spend around NOK 5.0 billion ($0.86 billion) on exploration initiatives on the Snorre field in the North Sea. Snorre has the largest remaining reserves of Statoil’s fields on the NCS.
Statoil believes 2010 will be another year with a high level of … [visit site to read more]

Masimo In Expansion Mode

Posted: 29 Dec 2009 07:24 AM PST

Masimo Corp. (MASI) recently announced the expansion of its corporate campus in Irvine, California with the addition of an adjacent 32,000 sq. ft. building. This is the company’s third building on its corporate campus. Masimo stated that the new building is expected to accommodate more than 200 employees.
The expansion of Masimo's corporate headquarters will further strengthen its engineering, sales and administrative functions in 2010. These are required to accommodate the increasing … [visit site to read more]

Abaxis Launches Bird Flu Test

Posted: 29 Dec 2009 12:05 PM PST

Abaxis, Inc. (ABAX) reported that it has launched its first product, a rapid Avian Influenza Antigen Test, in the production animal diagnostics market. Avian Influenza Antigen Test is a disposable and USDA-licensed test for Avian Influenza Type A nucleoprotein antigen in chickens, turkeys and ducks. Abaxis has worldwide rights to market this product globally.
Avian Influenza Antigen Test is capable of providing results in fifteen minutes. It can be performed on-field or in a laboratory of any … [visit site to read more]

Fannie And Freddie’s Blank Check Will Further Fuel Americans’ Rage

Posted: 29 Dec 2009 12:01 PM PST

I remain incensed at the sheer arrogance and brazen demeanor of the Obama administration providing a blank check on Christmas Eve to cover future losses of the failed institutions Fannie Mae (FNM) and Freddie Mac (FRE). Given the fact that this check has been issued, America deserves to know what exactly it is covering. Over and above a full and total exposition of these government sponsored entities, America is in a position to demand certain retributions. Let’s bang the drum and … [visit site to read more]

Economic Depression, Just Not That Simple

Posted: 29 Dec 2009 12:00 PM PST

We are looking back at the year almost finished, and trying to figure out what lies ahead. The surprise of 2009 was that the stock market didn't turn down again. Stocks worldwide were cut in half. Then, they bounced. A textbook, classic bounce…Normally, you'd expect the bounce to peak out after 5 or 6 months. This one hasn't…yet. Our guess is that it will…
Of course, we could be wrong…
The 'classic' depression…a la Japan…comes about when an economy needs to make some … [visit site to read more]

Relocation Cost For Wright

Posted: 29 Dec 2009 06:48 AM PST

Wright Medical Group, Inc. (WMGI) reported that it will incur a relocation cost of as much as $4 million for relocating its French distribution and supply operations to its European headquarters in Amsterdam. The relocation plan was first announced by the company in Oct 2009. Wright expects to complete the relocation by Dec 31, 2009.
Wright provided a detailed breakdown of these expenses that include: $1 million-$1.5 million for severance and other termination benefits; $1 … [visit site to read more]

Chesapeake To Use SE Pipeline

Posted: 29 Dec 2009 06:32 AM PST

With a growing need to transport its increasing Marcellus Shale production into the prominent natural gas market in the U.S., Chesapeake Energy Corp. (CHK) has entered into a definitive agreement with Spectra Energy Corp. (SE). The agreement provides that Chesapeake will be the largest shipper for Spectra's new natural gas pipeline project.
Spectra Energy will expand its Algonquin Gas Transmission and Texas Eastern Transmission pipeline systems, including approximately 16 miles of 30-inch … [visit site to read more]

Video: “Cloudy Optimism” Best Describes 2010

Posted: 29 Dec 2009 04:23 PM PST

Floor trader David Henderson best describes his outlook for 2010 to be cloudy yet optimistic. … [visit site to read more]

Equifax & Moneta Join Hands

Posted: 29 Dec 2009 11:04 AM PST

Equifax Inc. (EFX), a global leader in information solutions, recently announced that it has entered into a joint venture agreement with Moneta, an online payment alternative to credit cards, whereby the latter will be utilizing the Equifax credit decisioning system for a new instant credit feature for Moneta's online payment method.
The online alternative payment gateway of Moneta currently offers an easy-to-use online payment method that allows customers to fund online purchases directly … [visit site to read more]

Richard Russell: “We’re On The Path For Fireworks In 2010″

Posted: 29 Dec 2009 11:01 AM PST

Many commentators have over the past few days churned out lists of 2010 predictions. Although never one to produce best and worst lists at the turn of the year, Richard Russell, 85-year-old doyen of newsletter writers and author of the Dow Theory Letters, did express a major concern, as quoted below:

“I’m thinking that we’re on the path for fireworks in 2010. The reason I say that is because the federal deficits are running into the trillions of dollars. The roll-over of debt coming … [visit site to read more]

The Debt Bomb

Posted: 29 Dec 2009 10:57 AM PST

Make no mistake; the developed world is drowning in debt and there are only two viable options – a global economic depression or very high inflation. It is our contention that the policymakers have chosen the latter option and over the following years, we will experience the trauma of severe inflation.
Look. The American government is staring at total obligations of US$115 trillion, America's debt-to-GDP ratio is off the charts and the American public is also up to its eyeballs in debt. … [visit site to read more]

Forex Trading: USDCHF Getting Ready To Make Another Break? Watch The 1.0389 Level.

Posted: 29 Dec 2009 10:42 AM PST

The 1.0389 level is the 100 hour MA.  The pair has moved up to test this moving average but has so far found sellers against the level.  A break back above the level would increase the bullish bias for the pair and should lead to further upside potential. 
Today, the price continued it's corrective move lower and, in the process,  fell below the 100 day moving average at the 1.0320 level.  The price moved above this key moving average on December 15th on it's way … [visit site to read more]

TEX To Underperform Market

Posted: 29 Dec 2009 05:40 AM PST

Terex Corp. (TEX) is a multinational manufacturer of a broad range of equipment, primarily for the construction, infrastructure and surface mining industries. 

The company has been witnessing sharp decline in volumes across the board since the second half of 2008, primarily due to deterioration of the North American and European economies. It expects 2009 net sales to decline approximately 50% compared to 2008 due to weak global end-markets and constrained credit availability … [visit site to read more]

Another Acquisition By WM

Posted: 29 Dec 2009 05:21 AM PST

Waste Management, Inc. (WM) has acquired Metro Waste Disposal, a solid waste services company. Metro Waste Disposal, which primarily serves commercial and industrial customers in the Cleveland, Akron and Canton areas, will further strengthen Waste Management's presence in Northern Ohio.
Management said that initially, Metro Waste's operations will be combined with Waste Management’s network of Ohio service locations. The company did not disclose the financial terms of the deal.
Waste … [visit site to read more]

The Evidence Continues To Suggest Higher Stock Prices Are On The Way

Posted: 29 Dec 2009 10:17 AM PST

I have been surprised to see the air thick with pessimism in recent weeks. Not so much the stock market, where the sentiment indexes show the bulls dominating the bears by slightly more than 52%. But among the general public.

An NBC/Wall Street Journal poll last week found that 55% of all Americans feel the nation is heading the wrong direction. This is the highest level since January of this year - when the financial crisis was red hot and U.S. President Barack Obama was just entering … [visit site to read more]

Radware Lifts Q4 Guidance

Posted: 29 Dec 2009 10:02 AM PST

Radware Ltd. (RDWR) on Monday raised its earnings guidance for the fourth quarter on the back of sustained momentum in sales and industry-high gross margins. The company now expects adjusted profit to range between 19 cents and 21 cents per share, compared to the earlier prediction of 15 cents to 16 cents per share. The revised guidance was well above the Zacks Consensus Estimate of 9 cents per share.
The company also lifted its revenue guidance for the fourth quarter to reach approximately … [visit site to read more]

BCE Boosting Dividend

Posted: 29 Dec 2009 04:45 AM PST

Canada's largest telecom carrier, BCE Inc (BCE), has increased its annual dividend by 7% year-over-year to C$1.74 (US$1.63) per share, equating to approximately 6.4% yield. The revised dividend will be effective from the first-quarter 2010 dividend, payable on Apr. 15, 2010 to shareholders of record as of Mar. 15, 2010.

This represents the third increase in the company's annual dividend payout in the last 12 months. Since the fourth-quarter 2008, BCE has increased its annual dividend by … [visit site to read more]

Video: Risk Appetite Resurfaces On Data

Posted: 29 Dec 2009 02:44 PM PST

Risk appetite strengthened this session following positive US consumer confidence and housing price figures. … [visit site to read more]

KT Sheds Jobs, Entering China

Posted: 29 Dec 2009 04:30 AM PST

South Korea's incumbent fixed-line telephone carrier KT Corporation (KTC) has announced a major workforce restructuring program. The company is reportedly eliminating 5,992 jobs through an early retirement program, equating to 16% of its workforce (roughly 37,026 employees). This represents KT's largest job cut ever.

The early retirement program applies to the employees who have worked for more than 15 years and have applied for voluntary retirement. Approximately 65% of these employees … [visit site to read more]

Forex Trading: GBPUSD Tests Resistance On Retracement

Posted: 29 Dec 2009 09:26 AM PST

The GBPUSD is back up testing the weeks low price at 1.5931 and the low from last week at 1.5920.  If this level can hold, we should see a wander back down as the pairs move lower was a harsh move down.  Look for support at the 1.5881 … [visit site to read more]

ISIS Gains From TEVA-OGXI Deal

Posted: 29 Dec 2009 04:15 AM PST

Isis Pharmaceuticals, Inc. (ISIS) stands to benefit from the recently signed agreement between OncoGenex Pharmaceuticals (OGXI) and Teva Pharmaceutical Industries Ltd. (TEVA) for the development and commercialization of OGX-011.

As Isis had co-discovered OGX-011 with OncoGenex, Isis is entitled to receive $10 million of the upfront payment made by Teva to OncoGenex. Isis will also receive 30% of the up to $370 million in milestone payments OncoGenex is eligible to receive, in … [visit site to read more]
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)