Daily Markets - Financial News And Opinions |
- Saudi Arabia Shifts Its Focus To China As The United States Falls Out Of Favor
- $NLY, $MFA, $CMO, $HTS, $ANH, $AGNC - These Stocks Are Paying 17% Dividends
- Forex Trading: USDJPY Moves Sharply Lower On Poor US Data
- Quanta Services Exceeds Estimates
- Comcast Expanding Wideband
- Morning News Notes: 2/23/2010
- Macy’s Tops Expectations
- DTE Energy Beats By A Penny
- Forex Trading: EURUSD Falls To New Lows, Tests Support And Bounces. Watch 1.3567
- Sears Beats Zacks Estimates
- Swiss Franc: Continuation Of The Rebound
- Japanese Yen: Rebound
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Stocks Move Higher, Momentum Slowing
- Wider Q4 Loss For Dendreon
- Stock Market News Briefs: Bank Of America Corporation, Campbell Soup Company, Deutsche Bank AG, Home Depot, Inc. (The), Honeywell International Inc., Limited Brands, Inc., Macy’s Inc, Medtronic, Inc., Millipore Corporation, Office Depot, Inc., Thermo Fisher Scientific Inc, UBS AG, Wal-Mart Stores, Inc., Palm, Inc., Sears Holdings Corporation
- Home Depot Misses, Ups Dividend
- Morgan Stanley To Vend CICC Stake
- Energy Transfer Beats, Profit Rises
- Forex Trading: USDCHF/EURCHF Supported By Dollar Strength/currency Weakness And Intervention Chatter
- Judge Backs BofA-SEC Accord
- Forex Trading: GBPUSD Upside Resistance At 1.5447 Today As Pressure From BOE Officials Keeps The Pair Pressured.
- Rydex Market Timers: A One Day Bet
- Forex Trading: EUR/JPY Butterfly In A Gartley
- Forex Trading: EURUSD Will Be Watching 1.3594 Resistance Above.
- Stocks Come Under Pressure As Consumer Confidence Wanes - U.S. Commentary
- Bulgaria Dec. Gross External Debt Grows
- Stocks Poised For Modestly Lower Open Ahead Of Economic Data - U.S. Commentary
- BoE Willing To Do Whatever Seems Appropriate: King
- Oil Slips Back Toward $79 As Dollar Firms
- Czech Central Bank Says Banking Sector Resilient To Future Shocks
- Mutual Funds: Top 4 China Funds
- Stock Buy: Joy Global
- Stock Buy: Priceline.com, Inc.
- Bear Of The Day: Western Union Co. (WU)
- Bull Of The Day: News Corporation (NWSA)
- Stock Buy: Ingram Micro Inc.
- Stock Buy: Endesa Chile
| Saudi Arabia Shifts Its Focus To China As The United States Falls Out Of Favor Posted: 23 Feb 2010 07:55 AM PST Saudi Arabia, the world’s largest oil producer, last year shipped more oil to China than it did the United States for the first time ever - a shift that highlights China’s ascension to the ranks of the world’s economic elite, as well as its position as the new focal point for the world’s energy producers. The flow of oil from Saudi Arabia to China rose to more than 1 million barrels per day (bpd) last year, just as demand in the United States fell below that level for the first time in … [visit site to read more]
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| $NLY, $MFA, $CMO, $HTS, $ANH, $AGNC - These Stocks Are Paying 17% Dividends Posted: 23 Feb 2010 07:17 AM PST By Tom Dyson Some interesting stocks appeared on my stock screener this morning… As a full-time dividend stock analyst, I screen the market every day for high-yield stocks. I’m looking for the income investor’s holy grail: a strong company, with sound finances, paying a sustainable 15% dividend yield. It’s mostly a fool’s errand. Stocks have high yields because no one wants them. The yield climbs because the stock price has collapsed or the dividend payment is about to collapse… or … [visit site to read more]
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| Forex Trading: USDJPY Moves Sharply Lower On Poor US Data Posted: 23 Feb 2010 07:14 AM PST The lower Consumer Confidence and report by FDIC on the sharp increase in problem banks has the USDJPY falling to the support target. The price is testing the midpoint of the move up from the February 4th low to the February 19th high. That level comes in at the 90.34 level. Along the way, the price broke through the 200 hour MA at the 90.64 level and trendline support at the 90.58 level. I would expect that sellers will use those levels as resistance levels on any bounces.
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| Quanta Services Exceeds Estimates Posted: 23 Feb 2010 07:00 AM PST Quanta Services Inc (NYSE:PWR) reported fourth quarter 2009 earnings from continuing operations of 21 cents per share, exceeding the Zacks Consensus Estimate of 18 cents. Revenues in fourth quarter 2009 were $985.4 million compared to revenues of $921.5 million in fourth quarter 2008.
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| Posted: 23 Feb 2010 06:45 AM PST Comcast Corp. (NASDAQ:CMCSA) launched its residential "Extreme” tier DOCSIS 3.0 (wideband) network in Indianapolis offering 50 Mbps downstream and 10 Mbps upstream speed for a price of $99.95 per month. The company is aggressively deploying the DOCSIS 3.0 technology to upgrade its existing customers from broadband to high-speed wideband network. Management predicted that all of its residential networks will be upgraded to DOCSIS 3.0 by mid 2010.
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| Posted: 23 Feb 2010 06:44 AM PST The “Morning News Notes” as prepared by TL…HD and MDT earnings, housing bargains become scarce, more Greece, WMT dipping a toe into digital technologies, sovereign defaults, and China and IMF gold. Just click on the link or the coffee mug below. “Morning News Notes”: February 23, … [visit site to read more]
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| Posted: 23 Feb 2010 06:38 AM PST Macy's Inc. (NYSE:M) recently posted better-than-expected fourth-quarter 2009 results buoyed by effective inventory management, division consolidation and the customer-centric localization initiative called 'My Macy's' aimed at improving sales and reducing operating expenses. Quarterly earnings of $1.40 per share outdid the Zacks Consensus Estimate of $1.32, and exceeded its own guidance of $1.35 to $1.37. The earnings rose 32.1% from $1.06 per share delivered in the prior-year … [visit site to read more]
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| Posted: 23 Feb 2010 06:30 AM PST DTE Energy Company's (NYSE:DTE) fourth-quarter operating earnings came in at 72 cents per share, 15 cents less than the earnings in the prior-year quarter. The company however beat the Zacks Consensus EPS estimate of 71 cents by a penny in the reported quarter. The variance in EPS primarily resulted from lower sales volumes due to the economy and weather, coupled with the timing of maintenance activities and higher benefit expenses. In fiscal 2009, the company clocked an operating EPS of … [visit site to read more]
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| Forex Trading: EURUSD Falls To New Lows, Tests Support And Bounces. Watch 1.3567 Posted: 23 Feb 2010 06:18 AM PST The Case Schiller Home Price Index came in as expected at -3.08% YoY. This was as expected and the higher reading since May 2007 - even though it is still negative. As per the prior post, the EURUSD held below the 100 hour MA above and has now come down to test the support target (see prior post). The EURUSD has reached new lows at the 1.3543 level. There is support at the 1.3538 level which is the 61.8% retracement of the move up from Friday's low. … [visit site to read more]
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| Posted: 23 Feb 2010 06:17 AM PST Sears Holdings Corp.'s (NASDAQ:SHLD) fiscal 2009 fourth-quarter GAAP earnings more than doubled to $430 million from $190 million in the year-ago period. Excluding special items, adjusted earnings per share came in at $3.69 per share, which topped the Zacks Consensus Estimate of $3.54 per share. The better-than-expected performance was primarily driven by growth in Kmart, improved gross margin and lower overheads. Shares of Sears Holdings have gained more than 1% to $97.09 in pre-market trading … [visit site to read more]
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| Swiss Franc: Continuation Of The Rebound Posted: 23 Feb 2010 06:17 AM PST |
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| British Pound: The Upside Prevails Posted: 23 Feb 2010 06:17 AM PST |
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| Stocks Move Higher, Momentum Slowing Posted: 23 Feb 2010 06:17 AM PST Fundamentals
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| Posted: 23 Feb 2010 06:15 AM PST Dendreon Corporation (NASDAQ:DNDN) suffered a fourth-quarter net loss of 31 cents per share (excluding special items) as against a loss of 17 cents (excluding special items) in the year-ago quarter. The Zacks Consensus Estimate for the reported quarter pointed at a loss of 28 cents per share. The higher loss in the reported quarter was attributable to higher operating expenses, as Dendreon gears up for the launch of its prostate cancer drug Provenge, in addition to lower revenues.
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| Posted: 23 Feb 2010 06:12 AM PST Home Depot (NYSE:HD) announced its first dividend increase since 2006 after reporting better-than-expected earnings of 24 cents a share, versus Zacks consensus of 16 cents a share, on revenues of $14.57 billion, ahead of Zacks estimates of $14.05 billion. The company said it sees 2010 earnings of $1.79 a share. Dividend payout was lifted 5% to 23.625 cents quarterly Office Depot (NYSE:ODP) reported a narrower than anticipated loss of 6 cents a share on revenues of $3.07 … [visit site to read more]
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| Home Depot Misses, Ups Dividend Posted: 23 Feb 2010 06:07 AM PST The Home Depot (NYSE:HMC) reported fourth quarter 2009 results with earnings of 24 cents per share. However, earnings were below the Zacks Consensus Estimate of 36 cents, though they were up 26.3% year-over-year. Total sales for the quarter were almost flat year-over-year, declining marginally by 0.3% to $14.6 billion. Total same-store sales grew 1.2%, while comparable same-store sales for U.S. stores declined 1.1%. Sales were primarily driven by gains in kitchen and bath, paint, flooring and … [visit site to read more]
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| Morgan Stanley To Vend CICC Stake Posted: 23 Feb 2010 06:00 AM PST According to sources, on Monday, Morgan Stanley (NYSE:MS) took the final decision to sell its 34.3% stake in one of the biggest Chinese investment banks, China International Capital Corp. (CICC). Morgan Stanley has been trying to strike the deal for the last couple of years.
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| Energy Transfer Beats, Profit Rises Posted: 23 Feb 2010 05:45 AM PST Energy Transfer Partners L.P. (NYSE:ETP), a master limited partnership (MLP), announced better-than-expected fourth quarter results, helped by improved margins at its 'Intrastate Transportation & Storage' segment. The pipeline operator's results were also boosted by a significant enhancement in its 'Retail Propane' segment results.
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| Forex Trading: USDCHF/EURCHF Supported By Dollar Strength/currency Weakness And Intervention Chatter Posted: 23 Feb 2010 05:37 AM PST The USDCHF and EURCHF sold off earlier in the day, but bounced on general dollar strength (currency weakness) and chatter of SNB intervention.
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| Posted: 23 Feb 2010 05:30 AM PST A federal judge on Monday approved a $150 million settlement between the Securities and Exchange Commission (SEC) and Bank of America Corporation (NYSE:BAC), or BofA, to conclude the civil allegation on BofA for misleading its shareholders in its purchase of Merrill Lynch & Co. last year.
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| Posted: 23 Feb 2010 05:16 AM PST The pound has been under pressure today on the back of comments from BOE officials who hinted at the potential for further Quantitative Easing measures as the risks remained to the downside for the UK economy. If the bearish trend is to continue, look for the GBPUSD to have upside resistance at the 1.5447 level which was a floor from yesterday's trade. A move above this level would put the pair back in yesterday's trading range and could see a rebound … [visit site to read more]
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| Rydex Market Timers: A One Day Bet Posted: 23 Feb 2010 05:12 AM PST Figure 1 is a daily chart of the S&P500. The indicator in the lower panel measures the ratio of the amount of assets in the Rydex bullish and leveraged funds relative to those funds that are bearish and leveraged. Figure 1. S&P500/ daily/ Rydex Bullish and Leveraged v. Bearish and Leveraged The current value of the indicator stands at 1.34. As suspected, this turned out to be an isolated bearish bet rather than increasing fear and a move to the sidelines by these market timers. In … [visit site to read more]
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| Forex Trading: EUR/JPY Butterfly In A Gartley Posted: 23 Feb 2010 05:01 AM PST 4H: The EUR/JPY has completed a Gartley. The second swing (cd) of the gartley was a bit more complicated than the first (ab). The end of cd was marked with a bearish butterfly, which ended at d’, slightly higher than the d was projected (projection is cd = ab).
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| Forex Trading: EURUSD Will Be Watching 1.3594 Resistance Above. Posted: 23 Feb 2010 04:50 AM PST The last two trading days have closed at 1.3594. In addition, the 100 hour MA also comes in at that area at the 1.3595 level currently. As a result, we will look for sellers against this level this morning. This would keep the trend potential in play for the EURUSD after the sharp fall in the European session on the back of weaker IFO data out of Germany. Above the level is resistance at 1.3605 and 1.3615. On the downside, the 1.3538 level is the 61.8% … [visit site to read more]
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| Stocks Come Under Pressure As Consumer Confidence Wanes - U.S. Commentary Posted: 23 Feb 2010 07:41 AM PST (RTTNews) - After showing a lack of direction early on, stocks have shown a notable move to the downside on Tuesday following the release of disappointing consumer confidence data. The major averages have moved sharply lower, backing further off of Friday’s one-month closing highs. The Conference Board reported a much bigger than expected drop in consumer confidence in the month of February, with consumers expressing concerns about business conditions and the job market. The consumer … [visit site to read more]
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| Bulgaria Dec. Gross External Debt Grows Posted: 23 Feb 2010 06:31 AM PST (RTTNews) - Bulgaria’s gross external debt increased 1.7% year-on-year to EUR 37.6 billion in December from EUR 37.12 billion in the previous month, the central bank said on Tuesday. A year earlier, the gross debt was EUR 36.97 billion. In December, general government’s external debt amounted to EUR 2.81 billion, which was 8.3% of GDP. Private non-guaranteed external debt rose 1.4% to EUR 33.46 billion in December, while public and publicly guaranteed external debt increased to EUR 4.14 … [visit site to read more]
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| Stocks Poised For Modestly Lower Open Ahead Of Economic Data - U.S. Commentary Posted: 23 Feb 2010 05:32 AM PST (RTTNews) - Stocks are likely to open slightly lower on Tuesday, as the markets await key housing price data and the latest report on consumer confidence. The major index futures are all in negative territory, with the Dow futures down by 20 points. On the economic front today, the S&P/Case-Shiller home price index for December is due to be released at 9:00 a.m. ET. Economists expect that the 20-city composite price index declined at an annual rate of 3.1 percent in December compared to … [visit site to read more]
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| BoE Willing To Do Whatever Seems Appropriate: King Posted: 23 Feb 2010 05:21 AM PST (RTTNews) - Tuesday, Bank of England Governor Mervyn King said in a Treasury Committee hearing that the central bank is willing to do whatever seems appropriate for the recovery. King said much of the effect of the quantitative easing measures is still to come through. “We don’t want to run the risk of inflation expectations moving up and being dislodged from the target,” King said. “There are risks there could be further upward movements, whether it be commodity prices or other changes in … [visit site to read more]
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| Oil Slips Back Toward $79 As Dollar Firms Posted: 23 Feb 2010 05:17 AM PST (RTTNews) - The price of oil moved lower Tuesday morning in New York as the US Dollar firmed up against the euro. However, an ongoing French refinery strike and geopolitical tensions limited the downside for crude. March crude was down about a dollar to $79.07 a barrel on the NYMEX, having briefly touched above $80 as the the American Petroleum Institute said Friday that U.S. demand for crude oil and petroleum products fell sharply in January from the previous year. Looking at today’s US … [visit site to read more]
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| Czech Central Bank Says Banking Sector Resilient To Future Shocks Posted: 23 Feb 2010 04:48 AM PST (RTTNews) - The Czech banking sector remains resilient to shocks that it might face in the coming two years, although risks to financial stability remain high, results of a stress test conducted by the Czech National Bank showed Tuesday. The capital adequacy of the banking sector stood at 13.41% at the end of November 2009, with none of the banks recording a figure lower than 10%. But, the central bank warned that the capital adequacy ratio may drop below the regulatory threshold of 8% in … [visit site to read more]
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| Mutual Funds: Top 4 China Funds Posted: 22 Feb 2010 10:00 PM PST While the world economy was reeling from the effects of a disastrous recession, China has continued to post impressive growth numbers, powered by a massive government spending program and a steady inflow of funds from their banking system. This trend is likely to continue in 2010, as the economy looks to achieve 8% growth once again, after growing 8.7% during the previous year. Investing in a China focused mutual fund is one of the easiest ways to participate in any potential … [visit site to read more]
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| Posted: 22 Feb 2010 09:00 PM PST Joy Global (NASDAQ:JOYG) is a play on global economic growth with a decent dividend yield.
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| Stock Buy: Priceline.com, Inc. Posted: 22 Feb 2010 09:00 PM PST Priceline.com, Inc. (NASDAQ:PCLN) recently gapped open higher on better than expected Q4 results that sent share to a new 52-week high.
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| Bear Of The Day: Western Union Co. (WU) Posted: 22 Feb 2010 09:00 PM PST We are initiating coverage on Western Union Co. (NYSE:WU) with an Underperform rating. The company’s fourth quarter earnings narrowed compared to the prior-year quarter as a result of lower transaction volumes due to ongoing market challenges and the dilutive effects of recent acquisitions.
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| Bull Of The Day: News Corporation (NWSA) Posted: 22 Feb 2010 09:00 PM PST News Corporation (NWSA) reported better-than-expected second-quarter 2010 results on the heels of an improved advertising environment, and significant cost-cutting initiatives taken by management to combat the downturn.
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| Posted: 22 Feb 2010 09:00 PM PST Ingram Micro Inc. (NYSE:IM) continued its solid earnings trend, which sent estimates higher as shares are pressuring the 52-week high.
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| Posted: 22 Feb 2010 09:00 PM PST Endesa Chile (NYSE:EOC) is a play on growth in Latin America. The stock is attractively valued, trading at 11.6x forward earnings.
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