Jan 18, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Scientific Games Big In Germany

Posted: 18 Jan 2010 12:57 PM PST

Scientific Games Corporation (SGMS) announced that it has been awarded a five-year contract by the Sachsische LOTTO-GmbH in the German state of Saxony to supply instant tickets and cooperative services.

The contract begins from January 2010. Scientific Games will be the exclusive supplier of instant tickets and will be also provide consulting services such as marketing support, training and production related matters to Saxony.

Scientific Games continues to grow through international … [visit site to read more]


Why Platinum Is The New Green

Posted: 18 Jan 2010 12:46 PM PST

The latest annual survey data released from the London Bullion Market Association forecasts that platinum prices will range between $900 and $2,578 an ounce this year, with an average of $1550. If true, it lies very close to the current trading price of $1580, and would ensure a gain of 28.7% on the $1205 median for 2009.
That may seem optimistic, considering how much demand comes from the severely depressed global automotive sector. But that's why platinum prices fell so badly last year, … [visit site to read more]

Rating Action On Delphi Notes

Posted: 18 Jan 2010 12:41 PM PST

Last Friday, rating agency A.M. Best assigned a rating of "bbb” to Delphi Financial Group Inc.'s (DFG) latest $250 million, 7.875% senior unsecured notes, with a negative outlook. The ratings of Delphi's existing debt remain unchanged.

A.M. Best acknowledges Delphi's low long-term debt to total financial capital ratio, which stood at 19.5% as of Sept. 30, lower than 26.1% at the end of 2008. Though the new issue will pull up the leverage to 20.0X, it had remained lower than the … [visit site to read more]

General Dynamics Wins Contract

Posted: 18 Jan 2010 12:25 PM PST

General Dynamics Corporation (GD) was awarded a follow-on $60 million contract by the U.S. Air Force for providing network management and mission operations support to the 480th Intelligence Surveillance and Reconnaissance (ISR) Wing’s Air Force Distributed Common Ground System (DCGS) and two network operations centers in Virginia and California. The five-year contract was awarded to General Dynamics' business unit, General Dynamics Advanced Information Systems.
 
Under this contract, … [visit site to read more]

Inflation 101

Posted: 18 Jan 2010 12:15 PM PST

Inflation is a hidden tax, an insidious crime against the public. It is the easiest way for any government to confiscate the savings of the public and for generations, wealth has been transferred in this manner.
Remember, money is supposed to be a store of value, however due to reckless central bank-sponsored inflation, it can no longer fulfill this critical role. Unfortunately, nobody questions the inexplicable loss of the purchasing power of their savings, thus, central banks get away with … [visit site to read more]

Pall Acquires MicroReactor Tech

Posted: 18 Jan 2010 12:12 PM PST

Pall Corporation (PLL) has announced the acquisition of MicroReactor Technologies Inc. (MRT), a privately held U.S. biotechnology company. MicroReactor has developed a reliable, easy-to-use and cost-effective miniature bioreactor technology platform.
 
The acquisition of MicroReactor, which has patented its approach to high throughput miniature bioreactor equipment and disposables, expands Pall’s Total Fluid ManagementSM capabilities in the $1 billion biopharmaceuticals process … [visit site to read more]

Stock Picks For Tuesday 19 January

Posted: 18 Jan 2010 12:01 PM PST

Textron Inc (TXT)

Textron manage to clear out of the consolidation zone at $21.17. The last two candlestick of of a long white candlestick with high volume and a short black candlestick with low volume indicates potential near term upward moves. On the mid term horizon, i expect a smooth run to around $39 which will present the next major resistance zone. ( Refer to chart 2 on the mid term outlook.)

UAL Corp (UAUA)

UAL is currently trading in a tight consolidation zone. … [visit site to read more]

Forex Trading: USDCAD Looking To Test Moving Average Resistance

Posted: 18 Jan 2010 11:55 AM PST

The USDCAD has been trending down in quiet trading for most of the trading day. The price moved below the 100 bar MA at 1.0296 level, broke throught he 1.0291 level which has been a level of importance for the USDCAD and wandered down using the 100 bar MA on the 5 minute chart.  The moving average (blue line in the chart above) was tested on on 6 or 7 different occasions today. The current price is testing the level at the 1.0258 level.  A move above will look for confirmation … [visit site to read more]

GOL Launches Flights To Bauru

Posted: 18 Jan 2010 11:55 AM PST

Latin America’s largest low-cost and low-fare airline, GOL Linhas Aereas Inteligentes S.A. (GOL), has begun selling tickets for the city of Bauru, to the west of the Sao Paulo state. There will be five flights per week from Congonhas Airport in Sao Paulo city, beginning on February 1, 2010.
Bauru is the biggest city in western Sao Paulo and one of the leading economic centers in the state, with a GDP of R$ 5.3 billion. It is 345 km from Sao Paulo city and has a population of around … [visit site to read more]

Praxair Agreement With Valero

Posted: 18 Jan 2010 11:40 AM PST

Praxair Inc. (PX) has signed an agreement with Valero Energy Corp. (VLO) for the supply of oxygen and nitrogen to Valero’s Memphis, Tenn., refinery connected to Praxair's pipeline system. According to the agreement, Praxair will build a new air separation plant with a capacity of 450 tons per day together with two new six-mile pipelines for the supply of oxygen and nitrogen to Valero's Memphis refinery.
Praxair's focus on intensifying its reach in the regions where it operates and … [visit site to read more]

Occidental Petroleum (NYSE: OXY): The Industry-Changing Oil And Gas Company You Haven’t Heard Of

Posted: 18 Jan 2010 11:31 AM PST

While the financial world gushes about oil and gas on practically a daily basis, it seems to have completely forgotten about California-based Occidental Petroleum (OXY), despite how the company made the biggest oil find in California in 35 years last July.
Then again, Occidental kept most of the details to itself, saying only that it had discovered 150 – 250 million gross barrels of oil equivalent reserves in Kern County, California. It wouldn't even specify the techniques it … [visit site to read more]

Forex Trading: GBPUSD Quietly Back Down Testing The 200 Bar MA

Posted: 18 Jan 2010 11:27 AM PST

The 200 bar MA is at the 1.6323 level. The price is testing the level for the 3rd time in the NY session, in what has been  a quiet trade. The NY high reached 1.6346. The low 1.6299. 
The 100 day MA continues to be an attraction for the pair. That level comes in at 1.6309.  This would continue to be a point of importance for the pair going forward and the next target in this quiet … [visit site to read more]

Shaw Downgraded To Neutral

Posted: 18 Jan 2010 11:17 AM PST

We downgrade our recommendation for Shaw Communications Inc. (SJR) to Neutral, which means the stock will perform in line with the broader market. The company's first quarter fiscal 2010 financial results beat the Zacks Consensus Estimate. However, an unexpected drop in basic cable subscribers is a major concern. Shaw Communications is facing severe challenges from new entrants in the Canadian cable TV market. The company is yet to come out with any concrete date line for the … [visit site to read more]

Celgene Expands In Cancer Drugs

Posted: 18 Jan 2010 11:01 AM PST

Recently, Celgene Corporation (CELG) completed the acquisition of the privately held Gloucester Pharmaceuticals for $340 million in cash coupled with $300 million in future milestone payments. The deal is aimed at bolstering Celgene's portfolio of cancer drugs. The deal is expected to be neutral to Celgene's earnings in 2010 and accretive in 2011.
 
Gloucester, founded in 2003, focused on developing new therapies to fulfill unmet medical needs in cancer treatment. The acquisition … [visit site to read more]

Gas Rig Count Hits 10-Month High

Posted: 18 Jan 2010 10:46 AM PST

According to data from Houston-based oilfield services company Baker Hughes Inc. (BHI), the number of rigs searching for oil and gas in the U.S. rose for the week ended Jan. 15, 2010, reflecting intensified drilling activity by the producers in response to higher commodity prices.
As shown in the first chart below from Baker Hughes, rigs exploring and producing in the U.S. totaled 1,248 during the week. This is up by 28 from the previous week's tally and represents the 12th gain in the past … [visit site to read more]

HDFC Bank’s Profit Increases

Posted: 18 Jan 2010 10:28 AM PST

HDFC Bank's (HDB) 2010 fiscal third quarter (ended Dec. 31, 2009) net earnings of INR8,185 million (US$175 million) were up 31.6% from the prior-year quarter, due primarily to a strong growth in net revenues, almost stable operating expenses and a decrease in provisions and contingencies (primarily comprising loan loss provisions).
HDFC Bank's net interest income for the quarter increased 12.4% year-over-year to INR22,239 million (US$474 million), with net interest margin (NIM) at 4.3%, … [visit site to read more]

How To Play Rising Foreign Stocks And A Rising Dollar

Posted: 18 Jan 2010 10:22 AM PST

Monday, January 18, 2010: Issue #1177
I've made no secret here recently that I believe the dollar is likely to soar against the euro, the pound and the yen this year. Yet this remains a distinct minority opinion.
Most analysts are focused on the huge U.S. budget and trade deficits, nearly $60 trillion in unfunded liabilities for Social Security, Medicare, Medicaid and the new prescription drug benefit, and the Federal Reserve's penchant for conjuring trillions of dollars out of thin air to … [visit site to read more]

MGM Mirage Plans Macau IPO

Posted: 18 Jan 2010 10:11 AM PST

MGM Mirage (MGM) is marching ahead with its Hong Kong initial public offering (IPO) plan. According to the South China Morning Post, the company is planning to raise approximately $1 billion through the listing of its Macau property.
MGM Grand Macao, a joint venture between MGM Mirage and Pansy Ho, the daughter of Macau casino magnate Stanley Ho, is looking out for banks for this IPO.
Macau has become an attractive destination for casino companies. MGM follows casino operators such as Las … [visit site to read more]

Lower Stock Market And Rising Interest Rates Before End Of 2010

Posted: 18 Jan 2010 10:01 AM PST

“The unprecedented run in the equity markets has boosted confidence among households and helped solidify the economy’s shaky foundations. The improving economic outlook undoubtedly applies increasing pressure on the U.S. Federal Reserve and Bank of Canada to hike interest rates from record-low levels. Are traders and investors ready for the end of nearly free money?” asks Paul Vieira of The Financial Post in an article entitled ‘The End of Free Money’.

Below are edited excerpts from Vieira’s … [visit site to read more]

DexCom Reports Product Revs

Posted: 18 Jan 2010 09:54 AM PST

In a filing with the U.S. Securities and Exchange Commission (SEC), DexCom, Inc. (DXCM) recently stated that it expects unaudited product revenues of approximately $6.6 million for the fourth quarter of 2009. This represents a 43% sequential increase from the product revenues reported by the company in the third quarter of 2009.
 
DexCom reported that it sold approximately 2,800 starter kits during the fourth quarter of 2009, representing a sequential increase of about 31% in starter … [visit site to read more]

Manitowoc To Refinance Its Debt

Posted: 18 Jan 2010 09:38 AM PST

The Manitowoc Company, Inc. (MTW) announced its plans to refinance a portion of its term loans under its senior secured credit facility with senior unsecured notes. The company has not finalized on amount of the offering, but said that it is expected to be around $400 million. The offering is tentatively planned for the second half of January.
The company said that this refinancing will improve the balance and flexibility of its capital structure. It will extend required maturities for a … [visit site to read more]

Isis Expands Pipeline

Posted: 18 Jan 2010 09:21 AM PST

Isis Pharmaceuticals, Inc. (ISIS) is working on expanding its cardiovascular pipeline. The company recently announced that it has added a new drug, ISIS-APOCIIIRx, to its development pipeline. The candidate is being studied for the treatment of hypertriglyceridemia, or high levels of triglycerides (TG).
 
Hypertriglyceridemia is an independent risk factor for cardiovascular disease and is also a trait of metabolic syndrome, which occurs in a large percentage of people with type II … [visit site to read more]
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