Daily Markets - Financial News & Opinions

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• Swiss Franc: Continuation Of The Rebound
• Australian Dollar: The Bias Remains Bullish
• Swiss Franc: Continuation Of The Rebound
• Japanese Yen: The Upside Prevails
• British Pound: The Upside Prevails
• Was The Dollar’s Demise Greatly Exaggerated?
• Forex Trading: GBPUSD Approaches 200 Bar MA As Correction Continues. Resistance At 1.6232-42.
• Duke Energy Gets Rate Approval
• Conoco Flies High With Oil Sands
• More Laughable Leveraged ETF Lawsuits
• Dr Reddy Reports, Slashes Guidance
• Stock Market News Briefs: Colgate-Palmolive Company, Deutsche Bank AG, Freeport-McMoRan Copper & Gold, Inc., Goldman Sachs Group, Inc. (The), Morgan Stanley, Southwest Airlines Company, Union Pacific Corporation, UnitedHealth Group Incorporated, Xerox Corporation, EBay Inc., Northern Trust Corporation, Starbucks Corporation
• Euro: Bounce
• Xilinx Reports A Solid Quarter
• Amdocs Outperforms
• Sallie Mae Profits But Misses
• EBay Soars On Skype Sale
• Forex Trading: GBPUSD Rebounds Off The Lows. Resistance Eyed
• When It Comes To Investing, Asking The Right Questions Is Key
• Stock Buy: Best Buy Co., Inc.
• Stock Buy: 51job, Inc.
• Stock Buy: Walter Energy, Inc.
• Bull Of The Day: Teva Pharmaceuticals (TEVA)
• Analyst Interviews: Oil & Gas Stock Outlook
• Bear Of The Day: GameStop Corp. (GME)
• Stock Buy: The Hartford Financial Services Group Inc.

Swiss Franc: Continuation Of The Rebound Posted: 21 Jan 2010 07:18 AM PST Update on supports and resistances. … [visit site to read more]

Australian Dollar: The Bias Remains Bullish Posted: 21 Jan 2010 07:18 AM PST Update on supports and resistances. … [visit site to read more]

Swiss Franc: Continuation Of The Rebound Posted: 21 Jan 2010 07:18 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Upside Prevails Posted: 21 Jan 2010 07:18 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 21 Jan 2010 07:18 AM PST Update on supports and resistances. … [visit site to read more]

Was The Dollar’s Demise Greatly Exaggerated? Posted: 21 Jan 2010 07:17 AM PST Fundamentals Just when it looked liked the recent rally in the U.S. Dollar had run its course, the greenback has soared to 2 ½ week highs in the March Dollar Index futures, as traders move back into their “risk averse” mode. Among the major factors bringing traders back into the U.S. buck are the continuing actions out of China to help curtail its rapid economic growth, including the Bank of China telling banks to restrict lending for the remainder of January. This comes on top of Chinese … [visit site to read more]

Forex Trading: GBPUSD Approaches 200 Bar MA As Correction Continues. Resistance At 1.6232-42. Posted: 21 Jan 2010 07:10 AM PST The GBPUSD is testing the 200 bar MA on the 5 minute chart at the 1.6232 level (see prior post outlining this upside target level)  Additional resistance comes in at the 1.6238 and the low from yesterday at 1.6243. The 38.2% retracement off the daily chart is also at the 1.6342 level. Lots of resistance above and this should lead to some profit taking at the … [visit site to read more]

Duke Energy Gets Rate Approval Posted: 21 Jan 2010 07:00 AM PST Duke Energy Corporation (DUK) got regulatory approval from the Public Service Commission of South Carolina for a general rate case increase of $74.1 million (or 5.2%), which will be effective from Feb. 1, 2010. The hike will increase Duke Energy's South Carolina residential electricity average monthly bill to $90 – $93 from $80 – $87 for customers. This is the first rate case hike since 1991 in South Carolina for Duke Energy.  Duke Energy Carolinas owns nuclear, coal-fired, … [visit site to read more]

Conoco Flies High With Oil Sands Posted: 21 Jan 2010 06:45 AM PST As an area of significant future oil production growth, ConocoPhillips (COP) has been increasingly favoring its oil sands projects. The company will start the initial construction of the second phase of the Surmont project this year, reports oilvoice.com. It is a Canadian oil sands steam-assisted gravity drainage (SAGD) facility.  Surmont is a 50/50 joint venture project between Conoco and Total S.A. (TOT) and is located approximately 63 kilometers southeast of Fort McMurray, … [visit site to read more]

More Laughable Leveraged ETF Lawsuits Posted: 21 Jan 2010 06:41 AM PST One of the major stories in the ETF industry over the last year has centered on the appropriate uses and potential abuses of leveraged ETFs. In the wake of the unprecedented equity market volatility during 2008 and the first quarter, some investors expressed dismay over the performance of 2x and 3x leveraged funds over multiple trading sessions. While these investors account for a very small portion of leveraged ETF use, their outrage caused quite a stir, and even sparked several … [visit site to read more]

Dr Reddy Reports, Slashes Guidance Posted: 21 Jan 2010 06:30 AM PST Recently, Dr Reddy's Laboratories (RDY) announced third quarter loss per ADS of 70 cents after a write-down of $174 million associated with its betapharm business in Germany and other intangibles. Excluding these, the company reported adjusted earnings per share of 29 cents, lower than the Zacks Consensus Estimate of 37 cents.  Dr Reddy's reported revenues of $373 million, a 6% decline from $397 million reported in the year-ago period. Revenues grew 17% excluding the contribution … [visit site to read more]

Stock Market News Briefs: Colgate-Palmolive Company, Deutsche Bank AG, Freeport-McMoRan Copper & Gold, Inc., Goldman Sachs Group, Inc. (The), Morgan Stanley, Southwest Airlines Company, Union Pacific Corporation, UnitedHealth Group Incorporated, Xerox Corporation, EBay Inc., Northern Trust Corporation, Starbucks Corporation Posted: 21 Jan 2010 06:29 AM PST  eBay (EBAY) reported fourth quarter earnings of 44 cents a share, 4 cents better than expected, on revenues of $2.37 billion, which topped projections of $2.28 billion. According to CEO Donahoe, “We delivered a strong fourth quarter with double-digit revenue growth driven by exceptional performance at PayPal and turnaround progress and momentum in our core eBay business.” The firm expects first quarter sales of $2.1-$2.2 billion and earnings of 39-41 cents.  Year earnings of … [visit site to read more]

Euro: Bounce Posted: 21 Jan 2010 06:17 AM PST Update on supports and resistances. … [visit site to read more]

Xilinx Reports A Solid Quarter Posted: 21 Jan 2010 06:15 AM PST Xilinx Inc (XLNX) reported sales of $513.3 million in the third quarter of fiscal 2010, up 24% sequentially driven by growth in all end-markets and geographies. In particular, sales of Virtex-5 (one of its new products) recorded outstanding growth and exceeded $100 million.  Coming to end-markets, sales from communications increased 23% sequentially and industrial and other increased 29%. Within communications, sales to wireline customers were particularly strong, while sales to … [visit site to read more]

Amdocs Outperforms Posted: 21 Jan 2010 06:00 AM PST Yesterday, after market close, Amdocs Limited (DOX) declared better than expected financial results for the first quarter of fiscal 2010. Total revenue of $724.8 million was down 3.9% year-over-year but up sequentially by 2.5%. First quarter revenue was also above the Zacks Consensus Estimate of $716 million. Top-line improvement was mainly due to strong demand for managed services and a modestly favorable foreign exchange rate.  Quarterly net income, on a GAAP basis was $88.4 million … [visit site to read more]

Sallie Mae Profits But Misses Posted: 21 Jan 2010 05:45 AM PST SLM Corporation (SLM), commonly known as Sallie Mae, reported fourth quarter core earnings of $249 million or 41 cents per share and just missed the Zacks Consensus Estimate of 44 cents. However, the results were significantly up from the prior-year quarter when the company had earned $65 million or 8 cents. Results reflected higher revenues from interest income and fee income, besides lower provisions.  For fiscal 2009, Sallie Mae reported core earnings of $597 million or 96 cents per … [visit site to read more]

EBay Soars On Skype Sale Posted: 21 Jan 2010 05:30 AM PST eBay Inc. (EBAY) reported third quarter pro forma earnings that beat consensus estimates by a penny. However, shares were up 8.1% after hours, as the company recorded a $1.1 profit per share on the sale of Skype.  Revenue  Gross revenue of $2.37 billion was up 5.9% sequentially and 16.5% year over year. Around 88% of total revenue was transactions-based, while the remaining 12% came from marketing services. Both existing segments contributed to the revenue increase in the last … [visit site to read more]

Forex Trading: GBPUSD Rebounds Off The Lows. Resistance Eyed Posted: 21 Jan 2010 05:29 AM PST The GBPUSD has rebounded off the days lows at the 1.6123 level. Support was at 1.6109 level which is the 61.8% of the move up from the 2010 low at 1.5895 to the high of 1.6456.   Buyers emerged early against the level and the subsequent bounce has taken the pair back higher. The price remains below the 38.2 % retracement of the days trading range. That level comes in at the 1.6194 level. It also remains below the 100 bar MA on the 5 minute chart which is currently at the 1.6203 level … [visit site to read more]

When It Comes To Investing, Asking The Right Questions Is Key Posted: 21 Jan 2010 04:23 AM PST The solution to many problems starts with asking the right questions.  For investors who actively follow the news, there is a daily fixation about what “caused” the market to blip higher or lower on a given day.  This is inevitable.  If you or I had the job of daily market commentary we would feel compelled to find and write about the day’s market action. In fact, many (most?) moves are within the range of regular volatility.  It is “noise” not “signal.” Let’s try a little … [visit site to read more]

Stock Buy: Best Buy Co., Inc. Posted: 20 Jan 2010 09:00 PM PST Best Buy Co., Inc. (BBY) saw robust sales in December. Revenue of $8.5 billion was up 13% year-over-year. The gain can in part be attributed to a jump of 8.2% in comparable store sales. Company Description Best Buy Co., Inc. is a multinational retailer of technology and entertainment products and services. The Best Buy family of brands and partnerships collectively generates more than $45 billion in annual revenue. Solid Sales Growth The company saw robust sales in December. Revenue of $8.5 … [visit site to read more]

Stock Buy: 51job, Inc. Posted: 20 Jan 2010 09:00 PM PST 51job, Inc. (JOBS) more than tripled in 2009, rising on the strong Chinese economy and strong results from its online recruitment services. Company Description 51job, Inc. provides integrated human resources services such as staffing and financial planning in China. The company was founded in 1998 and has a market cap of $482 million. Third-Quarter Results Revenues were up 5.1% from last year to $32.2 million. Earnings also came in strong at 19 cents per share, 12 cents ahead of the Zacks … [visit site to read more]

Stock Buy: Walter Energy, Inc. Posted: 20 Jan 2010 09:00 PM PST Walter Energy (WLT) analysts are projecting impressive growth in 2010 as shares continue to climb. Company Description Walter Energy produces coking coal for the steel industry. Additionally, the company provides steam and industrial coal, metallurgical coke and methane gas. Beat the Street On Oct 20 Walter Energy reported third-quarter results that showed a 35% jump in coking cola sales, to 1.9 million tons. Net income came in at $24.4 million, or 45 cents per share. Headed into the … [visit site to read more]

Bull Of The Day: Teva Pharmaceuticals (TEVA) Posted: 20 Jan 2010 09:00 PM PST Teva Pharmaceuticals (TEVA) reported earnings of $0.89 in the third quarter of 2009, up 16% from the year-ago period and a cent above the Zacks Consensus Estimate. Net sales increased 25% to $3.55 billion. We are impressed with Teva’s strong performance in the first nine months of 2009. We expect Teva to continue posting strong revenues and earnings going forward thanks to new product launches, both generic and branded. We are also pleased to see Teva’s progress with its branded and … [visit site to read more]

Analyst Interviews: Oil & Gas Stock Outlook Posted: 20 Jan 2010 09:00 PM PST Crude Oil The improving economic scene, both here in the U.S. as well as worldwide, is the main driver of the current oil rally that has seen the commodity settling around the $80 per barrel level. But high levels of product inventories (particularly gasoline), along with still higher supplies, will limit any sustained crude gains, in our view. But way too many factors weigh on oil prices — from OPEC decisions and geostrategic tensions to the value of the U.S. dollar and seasonal variables — … [visit site to read more]

Bear Of The Day: GameStop Corp. (GME) Posted: 20 Jan 2010 09:00 PM PST The video game industry, of which GameStop Corp. (GME) is a part, had surged ahead for a number of years, but is now grappling with the recession. Heavy job losses and reduced access to credit markets have led to lower discretionary spending. This has resulted in lower demand for video game consoles and new software. Moreover, the cut-throat competition from big-box companies is also weighing upon GameStop’s results. These unfavorable backdrops were evident from the company’s sluggish holiday … [visit site to read more]

Stock Buy: The Hartford Financial Services Group Inc. Posted: 20 Jan 2010 09:00 PM PST The Hartford Financial Services (HIG) recently sharply raised guidance for the fourth quarter. The company trades with a PEG ratio of just 0.64. Company Description The Hartford provides insurance and investment products to customers around the world. Its insurance products include life insurance, group and employee benefits, automobile and homeowners insurance and business insurance. The company’s investment products include annuities, mutual funds and college savings plans. The Hartford … [visit site to read more]

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