Jan 21, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Goldman Sachs Bulls And Bears Collide

Posted: 21 Jan 2010 03:50 PM PST

GS - Goldman Sachs Group, Inc. - Near-term bears and bulls crossed paths in the February contract on global investment banking firm, Goldman Sachs Group, today. The past 48 hours have stirred up a plethora of concerning news for investors, most recently, President Obama’s call to limit the size and trading activity of large financial institutions, which pummeled the financial sector like a ton of bricks, dragging equities down across the board. Additionally, markets are still smarting from … [visit site to read more]


AmEx Eclipses Estimates

Posted: 21 Jan 2010 03:11 PM PST

American Express Company (AXP) significantly surpassed its year-ago performance while also eclipsing the Zacks Consensus Estimate in its fourth quarter.
After the bell marked another sharp selloff in the market, at which time AXP announced earnings per share of 59 cents, beating the Zacks Consensus Estimate of 56 cents by 5.4%. More dramatic was the year-over-year improvement of more than 180% from 21 cents (though the year-ago performance was unnaturally depressed).
This was AXP’s second … [visit site to read more]

Google Beats, But Stock Slides

Posted: 21 Jan 2010 02:33 PM PST

Google Inc. (GOOG) announced solid growth numbers in its fourth quarter and fiscal 2009 earnings after the bell today. The Internet services giant reported earnings of $6.13 per share for the quarter, soundly beating the Zacks Consensus Estimate of $5.69 per share. In contrast to the general treatment on the Street, we at Zacks prefer the expensing of stock-based compensation, which is reflected in the reported EPS ($6.13) and the Zacks Consensus ($5.69).
And, in anticipation of Google’s … [visit site to read more]

Neutral On Waste Management

Posted: 21 Jan 2010 02:05 PM PST

Waste Management, Inc. (WM) is the largest provider of comprehensive waste management services in North America. The company continues to drive profits by focusing on its pricing programs and cost reductions. Its leading market position enables it to hold onto its pricing power.
The company is focused on controlling costs to maintain strong margins. The restructuring program announced in the first quarter of 2009 is expected to generate annualized savings of over $120 million. In addition, … [visit site to read more]

The Return Of The Safety Trade

Posted: 21 Jan 2010 02:00 PM PST

Barely a week ago, we called it the China Sneeze Play. Once again, world markets catch cold after China starts sniffling.
Rumors abounded yesterday that the China Banking Regulatory Commission asked several banks to stop making loans. The CBRC's chairman denied it, but then the Bank of China — one of the country's biggest banks — announced it is curbing its lending.
Today comes word that Chinese GDP grew an annualized 10.7% in the fourth quarter, moving China ever closer to eclipsing … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: AA, MCD, XRX

Posted: 21 Jan 2010 02:00 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

US Broadband Plan: An Update

Posted: 21 Jan 2010 01:50 PM PST

The US telecom regulator Federal Communications Commission (FCC) presented a status report on the National Broadband Plan on January 20, 2010. The National Broadband Plan represents a part of the US government's 2009 stimulus package.
The FCC is expected to brief about the proposed recommendations of the plan in February 2010, according to the regulator's web site. One of the key recommendations likely to be featured in the plan is the overhaul of the FCC’s $7 billion Universal Service Fund … [visit site to read more]

Google Earnings Put Tech ETFs In Focus

Posted: 21 Jan 2010 01:44 PM PST

Google, the world leader in online search, has frequently been in the news as of late. With the announcement of their new open source phone, the Nexus One, and their threat to leave China over censorship concerns, it has been a very tumultuous quarter for the search giant. The rocky year continued late Thursday as shares of Google slumped more than 5% in after hours trading, sending shares lower by close to $30 a share.
This plunge was despite the fact that the company beat earnings estimates … [visit site to read more]

Xerox Outdoes Estimates

Posted: 21 Jan 2010 01:33 PM PST

Xerox Corporation (XRX) has posted net income of $221 million or 25 cents per share (before special items) for the fourth quarter of the year. This was higher than the Zacks Consensus Estimate of 22 cents per share. However, net income decreased from $265 million or 30 cents per share (before special items) in the year-ago quarter.
Total revenue declined 3% to $4.2 billion due to economic weakness. Production revenue decreased 4% to $1.3 billion; Office revenue 2% to $2.4 billion; and Other … [visit site to read more]

Estee Lauder Raises Guidance

Posted: 21 Jan 2010 01:16 PM PST

The Estee Lauder Companies Inc. (EL) raised its forecast for the second quarter of fiscal 2010. The company now expects earnings in the range of $1.23 to $1.30, on sales growth of 10%-11%. The previous guidance was for net sales growth of 0%-3% and earnings of 80-87 cents per share. The company attributed the revised forecast to stronger net sales, favorable product mix and lower spending levels.
Better-than-expected sales performance is being driven by continued growth in Asia, successful … [visit site to read more]

Laissez-Welfare And The Goldman Gang

Posted: 21 Jan 2010 01:00 PM PST

 
[Editor's note: Trend forecaster Gerald Celente describes the events of 2009 as if he were writing economic history from the future. Read on to see how he portrays the fateful past year.]
Early in 2008, with the global equity markets in free fall and financial conditions rapidly deteriorating, most Americans were persuaded to accept the necessity of government bailouts of brokerage firm Bear Stearns and the Fannie Mae/Freddie Mac mortgage lenders. 
But in late September, when … [visit site to read more]

EMC Downgraded Pre-Earnings

Posted: 21 Jan 2010 12:59 PM PST

We have downgraded EMC Corp. (EMC) to Underperform from our previous Neutral rating, due to underlying near-term risks. The increasing downside risk to growth and low profit visibility in the near-term is expected to be the negative catalyst for the upcoming earnings. We lower our price target to $16.00, indicating that the stock will Underperform the market.
While EMC has the potential to benefit from restructuring activities, the company is cautious about reaching its goal in the near-term, … [visit site to read more]

Meredith Tops Zacks Consensus

Posted: 21 Jan 2010 12:42 PM PST

Meredith Corporation (MDP), a leading media and marketing company, recently reported second-quarter 2010 results that exceeded Zacks’ expectations on the heels of improved advertising performance at its National and Local Media groups, lower operating expenses, increased readership and online traffic.
The quarterly earnings of 49 cents a share outdid the Zacks Consensus Estimate of 45 cents, but remained in line with the prior-year quarter result. However, earnings surged 44% sequentially. On … [visit site to read more]

Int’l Game Tech Q1 Preview

Posted: 21 Jan 2010 12:24 PM PST

International Game Technology (IGT) will release its first-quarter (December quarter) of fiscal 2010 earnings today after market close. IGT is a leading manufacturer, designer, producer and marketer of computerized casino gaming equipment, systems and devices worldwide.
The key goal for IGT in 2010 is to manage costs. Given the economic downturn and reduced demand for game play, revenue growth has suffered. Hence, IGT is focusing on reducing operational costs to improve earnings.
During the … [visit site to read more]

Amphenol Tops Estimates

Posted: 21 Jan 2010 12:16 PM PST

Earlier, Amphenol Corporation (APH) reported sales of $758.3 million in the fourth quarter of 2009, roughly flat on a year-over-year basis but up 6% sequentially. The unfavorable movements in foreign currency exchange rates adversely impacted the top-line by approximately 2% in the fourth quarter.
The sequential growth was driven by strong demand in almost all markets that the company serves, including Information Technology and Data Communications Equipment, Military/Aerospace, Industrial, … [visit site to read more]

Cheap Oil Is Gone, And That’s Good News

Posted: 21 Jan 2010 12:02 PM PST

Over the next year or two, you will likely find yourself paying a LOT more at the gas pump. Big changes are taking place in the oil industry. With increased global demand and declining supply, easy oil is not so easy anymore.
Everything is about to get more expensive. From gasoline to anti-freeze, life jackets to golf balls, and eye glasses to fertilizer. There are very few things in the modern world that aren't made from oil, made by machines dependant on oil, or shipped by vehicles powered … [visit site to read more]
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