Daily Markets - Financial News And Opinions

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• Forex Trading: USDJPY Falls On The Weaker Housing Data
• Conseco Misses By A Nickel
• Virgin Media Under Estimates
• Morning News Notes: 2/26/2010
• Forex Trading: USDJPY Consolidates After A Trend Week To The Downside
• NVTL Tumbles, Outlook Disappoints
• Stock Market News Briefs: Accenture Ltd., American International Group, Inc., China Telecom Corp Ltd, China Unicom Ltd, CKE Restaurants, Inc., Conseco, Inc., Deutsche Bank AG, Gap, Inc. (The), GlaxoSmithKline PLC, Goldman Sachs Group, Inc. (The), Interpublic Group Of Companies, Inc. (The), J.M. Smucker Company (The)
• Swiss Franc: Continuation Of The Rebound
• Japanese Yen: Caution
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• “Loonie’s” Flight Cut Short
• Narrower Q4 Loss For Alnylam
• Health Insurance Across State Lines
• DryShips Misses By A Penny
• Forex Trading: USDCHF Continues To Range Trade With A Bearish Bias
• Gap Reports Impressive Quarter
• Forex Trading: GBPUSD Falls To New 2010 Lows
• It Comes Down To Politics, As Usual
• Forex Trading: EURUSD Moves Below Back Below The 200 Hour MA After A Squeeze Overnight
• Mutual Funds: Top 5 Goldman Sachs Funds
• Stock Buy: Bucyrus
• Stock Buy: Coherent, Inc.
• Bear Of The Day: Northern Trust (NTRS)
• Stock Buy: MKS Instruments, Inc.
• Stock Buy: Endo Pharmaceuticals
• Bull Of The Day: Universal Tech Institute (UTI)

Forex Trading: USDJPY Falls On The Weaker Housing Data Posted: 26 Feb 2010 07:07 AM PST The USDJPY has fallen on the weaker housing data.  The data is just not good and with the winding down of government purchases of mortgage securities, one has to wonder how bank lending will proceed going forward.  The low for the day was 89.01. The low from yesterday afternoon after the move higher off the low came in at the 89.04 level. This area will now become upside resistance for the pair.  The low yesterday at 88.79 area needs to be broken on the downside to confirm … [visit site to read more]

Conseco Misses By A Nickel Posted: 26 Feb 2010 07:00 AM PST Conseco, Inc's (NYSE:CNO) fourth-quarter operating earnings of 15 cents per share were a nickel short of the Zacks Consensus Estimate of 20 cents. The results were also down 16.7% from the operating earnings of 18 cents in the year-ago quarter.   Though results for the quarter were significantly impacted by charges related to accruals for regulatory settlements and the extinguishment of debt, overall sales were up by 18% over the prior-year quarter due to the strong performance of … [visit site to read more]

Virgin Media Under Estimates Posted: 26 Feb 2010 06:45 AM PST Virgin Media Inc. (NASDAQ:VMED) declared financial results for the fourth quarter 2009. Quarterly total revenue of $1,538 million was up 11.8% year-over-year but fell below the Zacks Consensus Estimate of $1,560 million. The year-over-year increase in revenue was primarily due to significant growth of the consumer cable segment.    Net loss, in the fourth quarter was $148.2 million or 46 cents per share compared to a net loss of $274 million or 83 cents in the prior-year quarter. However, … [visit site to read more]

Morning News Notes: 2/26/2010 Posted: 26 Feb 2010 06:34 AM PST The “Morning News Notes” as prepared by TL…Q4 GDP, Bernanke and the deficit, California’s budget and healthcare. Just click on the link or the coffee mug below. “Morning News Notes”: February 26, … [visit site to read more]

Forex Trading: USDJPY Consolidates After A Trend Week To The Downside Posted: 26 Feb 2010 06:32 AM PST The high for the USDJPY was on Monday at the 91.89. The low occurred yesterday at the 88.79 level.  The price moved below the 100 hour MA at the 91.19 level on Tuesday, the trendline and 200 hour MA on Tuesday.  Consolidated on Wednesday at the 100 day MA (at 90.16) and moved lower Thursday.  Now the market is consolidating once again as the week comes to a close. The Yens demand has come off the flight to quality bid as a result of slower global growth and the Greece … [visit site to read more]

NVTL Tumbles, Outlook Disappoints Posted: 26 Feb 2010 06:30 AM PST Yesterday, after market close, Novatel Wireless Inc. (NASDAQ:NVTL) declared disappointing fourth quarter 2009 financial results. The company's first quarter 2010 outlook is more lackluster due to lower average selling price (ASP) and weak seasonality. In the after-market trade in NASDAQ, the stock price of Novatel tumbled 76 cents (10.34%) to $6.59.   Fourth quarter total revenue of $88.64 million was up 36% year-over-year but declined 6% sequentially. Quarterly revenue was also well below … [visit site to read more]

Stock Market News Briefs: Accenture Ltd., American International Group, Inc., China Telecom Corp Ltd, China Unicom Ltd, CKE Restaurants, Inc., Conseco, Inc., Deutsche Bank AG, Gap, Inc. (The), GlaxoSmithKline PLC, Goldman Sachs Group, Inc. (The), Interpublic Group Of Companies, Inc. (The), J.M. Smucker Company (The) Posted: 26 Feb 2010 06:27 AM PST  AIG (NYSE:AIG) posted an $8.9 billion loss and said it could knock on the US government's door to help meet its obligations  CKE Restaurants (NYSE:CKR) will be purchased by Thomas H Lee Partners for $928 million, or $11.05 per share  Interpublic Group (NYSE:IPG) reported inline sales and earnings for its fourth quarter, with results of 24 cents on revenues of $1.8 billion  Gap (NYSE:GPS) reported after the close yesterday that its earnings topped estimates by one cent at 51 … [visit site to read more]

Swiss Franc: Continuation Of The Rebound Posted: 26 Feb 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: Caution Posted: 26 Feb 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 26 Feb 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 26 Feb 2010 06:18 AM PST Update on supports and resistances. … [visit site to read more]

“Loonie’s” Flight Cut Short Posted: 26 Feb 2010 06:17 AM PST Fundamentals The “Loonie’s” flight to parity vs. the U.S. Dollar has taken a detour lately, as concerns that the global economic recovery may be on shaky ground has traders fleeing “risk trades.” The budget crisis in Greece and China’s attempts to slow its surging economy are among the biggest reasons traders are nervous. The Canadian Dollar and other so called “commodity currencies”, such as the Aussie Dollar and Brazilian Real, surged last year, as prospects for improving economic conditions … [visit site to read more]

Narrower Q4 Loss For Alnylam Posted: 26 Feb 2010 06:15 AM PST Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) reported a fourth-quarter net loss of 19 cents per share, better than the Zacks Consensus Estimate of a loss of 30 cents and the year-ago loss of 23 cents.   Quarterly Results   Revenues for the reported quarter were $26.6 million as against $24.4 million in the year-ago quarter, up 9%. Revenues were inclusive of $15.2 million related to the company's alliance with Roche, $5.5 million from the company's alliance with Takeda Pharmaceuticals … [visit site to read more]

Health Insurance Across State Lines Posted: 26 Feb 2010 06:14 AM PST One of the ideas that has come up in the Health Care debate is the idea of letting insurance companies compete across state lines. On the surface, this sounds like a good idea, since it will increase competition — at least in theory. After all, most areas of the country already have extremely concentrated markets, with one or two firms getting over 75% of the premiums. As a result, the insurance companies are able to extract monopoly/oligopoly rents from the public. However, unless there is … [visit site to read more]

DryShips Misses By A Penny Posted: 26 Feb 2010 06:00 AM PST DryShips, Inc.'s (NASDAQ:DRYS) fourth-quarter earnings of 23 cents per share were a penny short of the Zacks Consensus Estimate of 24 cents. This excludes a loss of $64.4 million or 24 cents per share associated with various one-time items. However, earnings for the quarter were down substantially from 43 cents in the prior-year quarter.   GAAP net loss for the quarter was 1 cent per share, compared to a loss of $18.42 in the prior-year quarter.   Earnings for the quarter were aided … [visit site to read more]

Forex Trading: USDCHF Continues To Range Trade With A Bearish Bias Posted: 26 Feb 2010 05:56 AM PST   The USDCHF moved below the 100 and 200 bar MA, found support at the 1.0737 level and has bounced back to the 100 hour MA. Now the price is back below the  200 hour moving average in a choppy session. The good news is the levels are known. Resistance comes in against the 100 hour MA at the 1.0798 level. By the way the midpoint of the weeks range comes in at the 1.0796 level.  The supprot comes in at the 1.0737 double bottom.  On the topside a break of 1.0798 has additional … [visit site to read more]

Gap Reports Impressive Quarter Posted: 26 Feb 2010 05:44 AM PST Gap Inc. (NYSE:GPS) reported strong fourth quarter fiscal 2009 results despite challenging market conditions. The company reported net income of $352 million or 51 cents per share during the quarter, compared to $243 million or 34 cents per share in the year-earlier quarter. The quarterly earnings beat the Zacks Consensus Estimate by a penny. For fiscal 2009, Gap reported net income of $1.1 billion or $1.58 per share, compared to $967 million or $1.34 per share in fiscal 2008. The robust earnings … [visit site to read more]

Forex Trading: GBPUSD Falls To New 2010 Lows Posted: 26 Feb 2010 05:28 AM PST The GBPUSD continues to be pressured before the US GDP data at 8:30 - falling to a new 2010 low price.   The GDP is expect to come in at 5.6% slightly below the 5.7% prior reading.  Consumption is expected to stay unchanged at 2%.  For the GBPUSD look for resistance at 1.5213.  ON the downside the low at 1.5176 will be eyed now. Below the 1.5176 level, the 1.5115 should be another downside target level. Looking back to May 2009, the low before the surge higher started … [visit site to read more]

It Comes Down To Politics, As Usual Posted: 26 Feb 2010 05:00 AM PST In his latest Popular Delusions research report, “Some Useful Things I’ve Learned About Germany’s Hyperinflation,” SG Cross Asset Research strategist Dylan Grice notes some disturbing parallels between the economic and political environment that existed in Weimar Germany and that which we have now: [Reischsbank president Rudolf] Von Havenstein was faced with horrible fiscal problems; as is the case for today's central bankers, the distinction between fiscal and monetary policy had … [visit site to read more]

Forex Trading: EURUSD Moves Below Back Below The 200 Hour MA After A Squeeze Overnight Posted: 26 Feb 2010 04:53 AM PST   The EURUSD is moving below back below the 200 bar MA at the 1.3589 level.   At around the same time, the 100 bar MA on the 5 minute chart was being broken at the 1.3586 level.  These two levels should now provide resistance for the EURUSD. The price has moved down to test the 200 bar MA on the same 5 minute chart at the 1.3573 level. The importance of this level is the price held this moving average line earlier today and moved higher.  The market … [visit site to read more]

Mutual Funds: Top 5 Goldman Sachs Funds Posted: 25 Feb 2010 10:28 PM PST Since its inception in 1869, Goldman Sachs, & Co. has played a crucial role in the growth of some of the world's leading companies and institutions. Goldman Sachs continues to maintain this tradition of excellence by catering to the investment management needs of institutional and individual investors worldwide through institutional strategies, mutual funds and sub-advisory services. With more than $822 billion in assets under management across geographic borders, investment styles, and … [visit site to read more]

Stock Buy: Bucyrus Posted: 25 Feb 2010 09:00 PM PST Analyst are bullish on Bucyrus International (NASDAQ:BUCY) shares. Company Description Bucyrus is a leading manufacturer of large-scale excavation equipment used in surface mining. Bucyrus machines are used throughout the world by customers mining copper, coal, oil sands, iron ore and other minerals. Company Sees Improving Demand On its fourth-quarter conference call, Bucyrus president and CEO Tim Sullivan said that the company’s end markets are strong and improving. He noted that Bucyrus has a … [visit site to read more]

Stock Buy: Coherent, Inc. Posted: 25 Feb 2010 09:00 PM PST Coherent, Inc. (NASDAQ:COHR) recently hit a new 52-weke high as estimates jump higher on the company’s better than expected Q1 results from late January. Company Description Coherent, Inc. designs and manufactures lasers and precision optics and related accessories for commercial and scientific applications worldwide. The company was founded in 1966 and has a market cap of $776 million. First-Quarter Results Sales for the period were down less than 2% from last year to $123 million. But earnings … [visit site to read more]

Bear Of The Day: Northern Trust (NTRS) Posted: 25 Feb 2010 09:00 PM PST We are downgrading our recommendation on Northern Trust (NASDAQ:NTRS) to Underperform from Neutral. The company’s fourth quarter earnings came in better than the Zacks Consensus Estimate, benefiting primarily from lower provisions. The low interest rate environment is reducing the profitability of the company’s balance sheet as earning asset yields are contracting faster than its cost of funds. We expect its net interest income, securities lending revenue and money market fees to remain under … [visit site to read more]

Stock Buy: MKS Instruments, Inc. Posted: 25 Feb 2010 09:00 PM PST MKS Instruments Inc. (NASDAQ:MKSI) saw sales increase sharply from the third to the fourth quarter in 2009 as demand rose from its primary customers in the semiconductor industry. Company Description MKS Instruments manufactures instruments, subsystems and process control products that measure and analyze parameters of advanced manufacturing processes, primarily for the semiconductor industry and other thin film applications including flat panel displays, solar cells, and data storage media. It … [visit site to read more]

Stock Buy: Endo Pharmaceuticals Posted: 25 Feb 2010 09:00 PM PST Endo Pharmaceuticals (NASDAQ:ENDP) just topped Wall Street estimates, sending the stock and estimates higher, but still trades at a great value. Company Description Endo Pharmaceuticals makes branded and generic drugs to treat and manage pain. The Pennsylvania-based company has about 1,200 employees and a market cap of $2.6 billion. Beat the Street On Feb 22 Endo Pharmaceuticals reported fourth-quarter results that included revenue of $391 million, a 13% increase since last year. Net income more … [visit site to read more]

Bull Of The Day: Universal Tech Institute (UTI) Posted: 25 Feb 2010 09:00 PM PST Universal Technical’s (NYSE:UTI) leading position in providing technical education to aspiring automotive professionals, and its business model of working closely with leading OEMs provide the company a competitive advantage. The company’s sustained effort to expand educational programs helps it to boost enrollments, and in turn, the top-line. Moreover, higher education sees a counter-cyclical movement during sluggish economic conditions. Furthermore, the company’s debt-free balance sheet, and … [visit site to read more]

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