Daily Markets - Financial News & Opinions |
- LMT Does RERP Modernization
- WSJ: Economists Cautious About 2010
- Luminex Upgraded To Neutral
- Meredith To Trim Headcount
- What Nestle Wants, Nestle Gets… And Right Now, Nestle Wants A Bigger Slice Of The Pie
- Plains All American Plans IPO
- More Bank Fraud In The US
- Bunge To Sell Brazil Fertilizer
- VOD Beats Rivals On IPhone Sales
- Forex Trading: GBPUSD Tests 100 Bar MA Resistance At 1.6331
- EU Approval For Pfizer’s Drug
- First Solar Buys Into Edison Mission
- Bond Market Investors Remain Skeptical About Inflation
- FDA Extends Tarceva Review
- BofA To Cut 50 Jobs In Bellevue
- Initiating Lowe’s At Neutral
- UK Economy: To Double-Dip Or Not?
- Bank Failures Rise To 4
- Verizon, AT&T Cut Plan Prices
- IBM To Announce 4th Quarter Results
- Forex Trading: GBPUSD Back Down At The 100 Day MA Level
- Talking OOK, TXF, And All Things ETF With Keith Geary
- Codify The Too Big To Fail Policy
- Mutual Funds: Top Pacific Equity Funds
- Bull Of The Day: Xilinx, Inc. (XLNX)
- Stock Buy: Phillips-Van Heusen Corporation
- Stock Buy: EZCORP, Inc.
- Stock Buy: Cognizant Tech
- Bear Of The Day: Accuray, Inc. (ARAY)
- Stock Buy: Helen Of Troy Ltd.
| Posted: 18 Jan 2010 09:04 AM PST Lockheed Martin Corp. (LMT) recently inducted its second C-5 Galaxy strategic transport into the Reliability Enhancement and Re-engining Program (RERP) production line at its Marietta, Georgia, facility.
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| WSJ: Economists Cautious About 2010 Posted: 18 Jan 2010 09:01 AM PST WSJ’s Phil Izzo parses the latest findings from The Wall Street Journal’s monthly survey of leading economists, discussing what it says about the recovery and the growth outlook for 2010.
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| Posted: 18 Jan 2010 08:47 AM PST Recently, we upgraded Luminex Corp. (LMNX) to Neutral from Underperform. Our decision to upgrade the stock was based on the company's wide range of products and its significant international presence. These positive factors should drive growth in the coming quarters. Additionally, Luminex has an interesting pipeline. Should the pipeline develop successfully, the company can look at further growth.
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| Posted: 18 Jan 2010 08:33 AM PST Meredith Corp. (MDP), a media and marketing company, recently declared that it will lower its headcount by about 45 employees to revamp its Special Interest Media (SIM) business, which concentrates on home improvement publications and do-it-yourself projects in the fields of decoration, remodeling, food and entertainment, and gardening and outdoor living.
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| What Nestle Wants, Nestle Gets… And Right Now, Nestle Wants A Bigger Slice Of The Pie Posted: 18 Jan 2010 08:32 AM PST It would take far too long to list the leading brands Nestle ADR (OTC: NSRGY) owns, considering that it's the world's biggest food corporation with operations in almost every country.
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| Posted: 18 Jan 2010 08:15 AM PST Plains All American Pipeline L.P. (PAA), recently, announced plans for an initial public offering of PAA Natural Gas Storage L.P. (PNGS), a master limited partnership subsidiary, which the company plans to create for its natural-gas storage business. Plains said it will register for the offering during the first quarter of 2010. The company plans to use the proceeds of the offering to repay debt and for general partnership purposes. Plains intends to own 2% general partner … [visit site to read more]
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| Posted: 18 Jan 2010 08:01 AM PST The bailing out of our largest financial institutions was a violation of moral hazard of the greatest magnitude. With that violation well in place, America is now facing violations of other moral hazards. What do I mean? The mortgage modification program is a joke because the banks holding the mortgages have no incentive in modifying them. Why? Because, to a very large extent, if the bank modifies the primary mortgage then it has to write off the value of a second lien, if in fact a … [visit site to read more]
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| Bunge To Sell Brazil Fertilizer Posted: 18 Jan 2010 08:00 AM PST Bunge Ltd. (BG), a leading integrated global agribusiness and food company in the U.S., is currently engaged in discussions with Vale S.A. (VALE), a diversified metals and mining company, to sell its fertilizer business in Brazil, including its 42.3% stake in fertilizer company Fosfertil. The deal valued at $3.8 billion would be Vale's biggest acquisition since its $18.2 billion takeover of Inco Limited, a nickel producing company in Canada, in 2006. Vale is the largest producer … [visit site to read more]
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| VOD Beats Rivals On IPhone Sales Posted: 18 Jan 2010 07:45 AM PST Apple's (AAPL) iPhones (3G & 3GS) had a strong launch at Vodafone (VOD) UK as the carrier has reportedly sold a record 50,000 units to pre-registered customers on the first day, reflecting continued strong demand for the popular device among UK customers. The international telecom giant officially unveiled the iconic smartphone on January 14, 2010, thereby becoming the third carrier to sell the device in the UK. Vodafone UK, along with its peer, France Telecom's (FTE) … [visit site to read more]
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| Forex Trading: GBPUSD Tests 100 Bar MA Resistance At 1.6331 Posted: 18 Jan 2010 07:43 AM PST The GBPUSD has moved back higher after testing the 100 day MA at the 1.6309 and not being able to sustain any downward momentum (100 Day MA is blue line in the chart below). The price has moved back higher to the topside of the "goal posts" as represented by the 100 bar MA on the 5 minute chart. That level comes in at the 1.6331 level and the market does seem to be pausing at the level.
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| Posted: 18 Jan 2010 07:30 AM PST Recently, Pfizer (PFE) received European Commission approval for Revatio (sildenafil) in injectable form for patients who have been prescribed the oral alternative. The drug is used to treat pulmonary arterial hypertension (PAH), a rare disease affecting an estimated 100,000 people globally. Revatio is the only phosphodiesterase 5 (PDE5) inhibitor approved in both oral and injectable formulations in the EU for the treatment of PAH. This good news comes after a few setbacks for Pfizer. … [visit site to read more]
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| First Solar Buys Into Edison Mission Posted: 18 Jan 2010 07:15 AM PST First Solar Inc. (FSLR) acquired a portion of Edison Mission Group’s solar project development pipeline. The utility-scale solar projects are located in California and the Southwest. Edison Mission Group is a wholly-owned subsidiary of California-based utility holding company Edison International (EIX). The acquisition complements and diversifies First Solar’s existing portfolio of utility-scale thin film photovoltaic solar projects. First Solar’s existing projects are largely sited … [visit site to read more]
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| Bond Market Investors Remain Skeptical About Inflation Posted: 18 Jan 2010 07:01 AM PST Greg Mankiw writes about inflation in the NY Times:
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| Posted: 18 Jan 2010 07:00 AM PST OSI Pharmaceuticals (OSIP) received a setback recently with the US Food and Drug Administration (FDA) extending the review date of Tarceva (erlotinib), for its use as a first-line maintenance therapy in advanced non-small cell lung cancer (NSCLC) patients. Tarceva, OSIP's lead product has been developed in collaboration with Genentech, a part of Roche (RHHBY). While the original Prescription Drug User Fee Act (PDUFA) date was January 18, 2010, the FDA has extended it by … [visit site to read more]
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| BofA To Cut 50 Jobs In Bellevue Posted: 18 Jan 2010 06:45 AM PST As part of its nationwide job cuts initiative announced at the end of 2008, Bank of America Corporation (BAC) will retrench 50 employees in Bellevue. According to a notice sent out by the Washington Employment Security Department on Friday, BofA will start the retrenchment effective Mar 12, 2010. The employees of BofA's home loan and insurance groups will be affected by this lay-off. BofA has four branch locations in Bellevue, but no specific location was mentioned in the notice. … [visit site to read more]
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| Posted: 18 Jan 2010 06:30 AM PST We have recently initiated coverage on Lowe's Companies, Inc. (LOW), the world's second largest home improvement retailer operating in the United States and Canada, with a Neutral recommendation and a target price of $24.00. We expect it to perform in line with the industry. Based in Mooresville, North Carolina, Lowe's offers services to homeowners, renters and commercial business customers. Homeowners and renters principally include do-it-yourself (DIY) customers and … [visit site to read more]
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| UK Economy: To Double-Dip Or Not? Posted: 18 Jan 2010 06:21 AM PST As we all know, double dipping is a horrible social faux pas to make, one of which can really see oneself drop in the esteem of your social group. Yet the IMF is warning today that the advanced countries of the world are facing just this prospect - a double-dip recession. He forsees a drop in Government support for the economies and this to cause a double-dip recession; oh how his words will please Gordon Brown and Ed Balls. On the other hand, Gordon Brown and Ed Balls spent years … [visit site to read more]
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| Posted: 18 Jan 2010 06:15 AM PST Regulators shut down 3 more banks in Illinois, Minnesota and Utah pushing up U.S. bank failures to 4 so far this year. U.S. regulators on Friday shuttered three more banks in Illinois, Minnesota and Utah as the recession continues to take its toll on small banks. This brings the total number of bank failures to 4 so far in 2010, compared to 140 in 2009, 25 in 2008 and 3 in 2007. While the state of the economy is showing signs of recovery, there are lingering concerns about the … [visit site to read more]
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| Posted: 18 Jan 2010 06:00 AM PST Verizon Wireless, a joint venture between Verizon Communications (VZ) and Vodafone (VOD), has reportedly slashed its unlimited wireless price plans by roughly 30%. Its archrival AT&T (T) followed suit by announcing similar price cuts. Existing customers of both operators can switch to the new plans at no additional cost. Starting January 18, 2010, Verizon's newly announced nationwide unlimited voice plan for its contract customers will cost $69.99 a month, representing a … [visit site to read more]
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| IBM To Announce 4th Quarter Results Posted: 18 Jan 2010 05:45 AM PST IT bellwether International Business Machines Corp. (IBM) is set to release its fourth-quarter of 2009 earnings on Jan. 19. We do not expect the earnings to be a major catalyst for the stock price movement, but our focus will be on its guidance for fiscal 2010, which could drive the stock price. Historically, the company's earnings have consistently surpassed the Zacks Consensus Estimate, and IBM has raised its guidance for almost every quarter in the last two years. During the third … [visit site to read more]
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| Forex Trading: GBPUSD Back Down At The 100 Day MA Level Posted: 18 Jan 2010 05:39 AM PST The GBPUSD has moved back down to test the 100 day MA level at the 1.6309 level after falling below the 100 bar MA as per today's morning video commentary. The level continues to be a level the market is attracted to for the time being. It has tended to slow the moves higher or lower at the area over the last few days, then moves away. Additional support is at the 200 bar MA at the 1.6304 level. I expect buying interest against the levels with a break changing the … [visit site to read more]
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| Talking OOK, TXF, And All Things ETF With Keith Geary Posted: 18 Jan 2010 05:17 AM PST Keith Geary is the chairman, president, and CEO of The Geary Companies, an Oklahoma-based financial services firm. Geary Advisors recently launched the Texas Large Companies Exchange-Traded Fund (TXF) and Oklahoma ETF (OOK), the first state-specific equity ETFs available to U.S. investors. He recently took time out of his busy schedule to talk about his firm's products with ETF Database.
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| Codify The Too Big To Fail Policy Posted: 18 Jan 2010 05:01 AM PST In banking Too Big To Fail (TBTF) has become an implicit policy i.e. when a bank that is deemed to be too big, or too significant, to fail it is provided with government support of some manner in order to prevent its demise. The premise is: were it not for government intervention the bank would fail (whichever form that takes), and the cost of failure would in essence be the impact on the financial system. The costs could come in the form of mild to extreme disruption of the payment … [visit site to read more]
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| Mutual Funds: Top Pacific Equity Funds Posted: 17 Jan 2010 10:45 PM PST Today we are featuring top-performing "Pacific” equity mutual funds, which primarily invest in equity securities of companies based in the Pacific Basin because this diverse and economically vibrant region has the world’s largest savings pools, its most advanced technological capabilities, its fastest-growing and largest potential markets, and its greatest centers of production.
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| Bull Of The Day: Xilinx, Inc. (XLNX) Posted: 17 Jan 2010 09:00 PM PST Xilinx, Inc. (XLNX) recently upgraded its guidance for the third quarter of fiscal 2010. Xilinx now expects sales in the third quarter to increase 16%-20% sequentially, up from the previous guidance of around 6%-10%. The new guidance implies revenues between $481 million and $498 million in the December quarter.
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| Stock Buy: Phillips-Van Heusen Corporation Posted: 17 Jan 2010 09:00 PM PST Phillips-Van Heusen Corporation (PVH) recently boosted its earnings guidance for the fourth quarter and full year, and analysts followed suit. Shares of PVH have outpaced the market by more than 100% over the past year.
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| Posted: 17 Jan 2010 09:00 PM PST EZCORP Inc. (EZPW) is scheduled to report fiscal first-quarter 2010 results on Jan 21. The company operates payday-lending stores and pawnshops in the U.S., Canada and Mexico for individuals who do not have cash or access to credit.
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| Posted: 17 Jan 2010 09:00 PM PST Cognizant Tech (CTSH) continues to soar on an earnings surprise and subsequent estimate revisions. The company was originally featured as a Zacks Rank Buy on October 2nd.
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| Bear Of The Day: Accuray, Inc. (ARAY) Posted: 17 Jan 2010 09:00 PM PST Accuray Incorporated (ARAY) designs, develops and sells the CyberKnife System, an image-guided robotic radiosurgery system used for the treatment of solid tumors. The company was badly affected by reimbursement uncertainties surrounding its products.
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| Posted: 17 Jan 2010 09:00 PM PST Helen of Troy Ltd. (HELE) just hit a new 52-week high after reporting better than expected Q3 results on Jan 11.
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