Feb 22, 2010

Daily Markets - Financial News And Opinions

Daily Markets

Daily Markets - Financial News And Opinions

“Snowpocalypse” Nullifies Some Profit Plays, Heats Up Some Others

Posted: 22 Feb 2010 08:01 PM PST

This article was supposed to be about investments that would allow you to profit from the typical cold-and-snowy weather that’s part of the winter routine at this time of year.

But as everyone from Southern California to the Middle Atlantic East Coast states, and the Great Lakes to the Deep South, is painfully aware, this year’s winter has been neither “routine” nor “typical” - not by a long shot.

Indeed, the so-called “snowpocalypse” of 2010 has been so fierce that pundits have already … [visit site to read more]

Forex Trading: AUD/USD Ranging Off Technicals

Posted: 22 Feb 2010 07:31 PM PST

After an uneventful opening day to the trading week, most majors have remained in a tight range as indecision in the markets has currencies, equities and bonds trading relatively unchanged. For the AUD/USD chart we examined yesterday, we see the former trendline support held as resistance and the pair is now finding support at the 100 hr moving … [visit site to read more]

Video: The Day Ahead: Consumer Confidence

Posted: 22 Feb 2010 07:00 PM PST

The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]

Video: The Day Ahead: Consumer Confidence

Posted: 22 Feb 2010 07:00 PM PST

The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]

Cisco Systems To See A Lot Of Upside From Explosion In Broadband Traffic

Posted: 22 Feb 2010 06:50 PM PST

Last Friday I unveiled my two most compelling stock ideas to the readers of my Money Map VIP trading service. They are the best ways to hop onto an exploding trend that I recently discovered and researched extensively - the exponential explosion in broadband traffic.

To learn more about this broadband explosion - and the two top stock picks I isolated from my research - check out this new report. It’s a huge issue - with the potential to cause the kinds of network breakdowns and outright … [visit site to read more]

Some Major Hurdles To Overcome Before A Real Return To Gold And Silver Can Happen

Posted: 22 Feb 2010 05:50 PM PST

Gold Bugs have a die-hard sense of expectation that is akin to waiting for the Toronto Maple Leafs to win the Stanley Cup (NHL championship).  It just bloody never seems to happen, and though you start the season with some sense of hope, you realize partway through that there’s no friggin’ way it’s going to happen this time.
And yet you cling to that hope, year after year, and before you know it, it’s been 43 years since sweet victory - and the last time there was one, peace and love, long … [visit site to read more]

Forex Trading: USD/CHF Reaches Up To Long-Term Downtrend Line

Posted: 22 Feb 2010 05:01 PM PST

Recent bullish price action since mid-January on USD/CHF, a daily chart of which is shown, has brought price up to hit a key long-term downtrend resistance line extending from the November 2008 high. When the pair reached up to hit that significant trendline this past Friday, price momentum failed in its bullishness and tentatively retreated.

From a trend perspective, the pair may well be in a new overall uptrend after the bounce off parity (1.0000 price region) in early December. Any … [visit site to read more]

‘Quickly And Without Warning’

Posted: 22 Feb 2010 04:22 PM PST

In an article for the March/April issue of Foreign Affairs, “Complexity and Collapse: Empires on the Edge of Chaos,” due out later this week, author and historian Niall Ferguson posits that the life cycles of great powers might not follow the long-accepted pattern of gradual rise and fall. Rather, he says, “it is possible that this whole conceptual framework is, in fact, flawed,” and that empires fall quickly and without warning. With that in mind, Ferguson explores what it might mean for … [visit site to read more]

Portfolio Performance: To Rebalance Or Not?

Posted: 22 Feb 2010 04:01 PM PST

Last week I posted the results of my first four different Asset Allocations.  I learned a few things about putting a portfolio together.  The biggest lesson I learned was this:

USE AN ASSET MIX - any mix.  This will protect you from any Lost Decades

There are other important lessons out there, but that is the big one.  Even is you just pick two funds - 60% stocks and 40% bonds, you will do much better than in a single asset class.

Having said that, I hope you do not simply … [visit site to read more]

Increased Probability Of A Stock Market Correction This Week

Posted: 22 Feb 2010 03:05 PM PST

Updating a similar theme from the end of last week, a current 'updated’ view of market internals of the S&P 500 show further deterioration, which underscores the heightened probability - but not certainty - of a market correction this week.

Let’s see the updated chart:

See my previous update from February 18th:

“S&P 500 Breaks Resistance on Declining Market Internals”

The position and analysis remains eerily similar, only we’re higher now than Thursday, and on … [visit site to read more]

Cartoon: The United States Of Deficits

Posted: 22 Feb 2010 03:01 PM PST

Source: Steve Benson, Comics.com, February 19, … [visit site to read more]

Key Energy Services (NYSE:KEG) – Latest Report Shows “Right Direction”

Posted: 22 Feb 2010 03:00 PM PST

Based on its new quarterly report, Houston-based onshore, rig-based well servicing contractor Key Energy Services (NYSE:KEG) is showing renewed signs of sales growth. 
Agora Financial expert editor Chris Mayer dug deeply into the numbers and had the following opinion:
I mentioned that sales figures confirm that overseas markets are where the growth is for oil field services. Key Energy Services (NYSE:KEG) is Exhibit A. The stock just reported earnings last week and is not far off its … [visit site to read more]

Common Sense Economics

Posted: 22 Feb 2010 03:00 PM PST

It all started when I read the AP online story about how Greece, now bankrupt from insane fiscal policy, is such a basket case that the story was synopsized as "European leaders on Thursday offered moral support for Greece – but no money – as they sought to calm speculation that the Greek debt crisis may spread to other vulnerable countries and damage the euro currency."
Such outrageous, laughable, childlike stupidity like that always makes me laugh and laugh uncontrollably, my voice … [visit site to read more]

FirstEnergy Tops Expectations

Posted: 22 Feb 2010 02:59 PM PST

FirstEnergy Corp. (NYSE:FE) posted fourth-quarter adjusted earnings of 77 cents per share, topping the Zacks Consensus Estimate of 74 cents. The better-than-expected results were driven by lower operation and maintenance expenses, higher investment income, the impact of delivery service improvement riders in Ohio and a lower effective income tax rate.
However, earnings in the quarter were below $1.21 reported a year ago, primarily due to lower distribution and wholesale generation revenues, higher … [visit site to read more]

Discordant Quarter For Harmony

Posted: 22 Feb 2010 02:45 PM PST

South African gold producer Harmony Gold Mining Company (NYSE:HMY) recorded earnings of 4 cents per share in the second quarter of fiscal 2010, significantly down from last year's earnings of $1.27. However, reported earnings matched the Zacks Consensus Estimate.
Revenues were down 6% year over year to $397 million driven by lower gold production, while it improved 8.2% sequentially on a 15% rise in average gold prices to $1,100 per ounce from $957 per ounce in the reported quarter. Gold … [visit site to read more]

West Pharma Tops Zacks Estimate

Posted: 22 Feb 2010 02:31 PM PST

West Pharmaceutical Services Inc. (NYSE:WST) reported fourth-quarter fiscal 2009 earnings (excluding special items) of 67 cents per share, above the Zacks Consensus Estimate of 64 cents and the year-ago earnings of 56 cents (excluding special items). The favorable earnings in the quarter were attributable to higher sales recorded by the company's pharmaceutical systems segment.
 
Quarterly Results
 
Net sales in the reported quarter climbed 19.8% to $293.4 million from $244.9 million … [visit site to read more]

Applied Sees 50% Growth In 2010

Posted: 22 Feb 2010 02:17 PM PST

Applied Materials' (NASDAQ:AMAT) first quarter earnings were in line with the Zacks Consensus Estimate.
 
Revenue
 
Revenue of $1.85 billion was up 21.1% sequentially and 38.7% year over year. The year-over-year increase in revenue came after seven quarters of double-digit decline and was reflective of the turnaround in the capital equipment market.
 
Revenue by Segment
 
Display was the weakest segment in the last quarter, declining both sequentially and on a year-over-year … [visit site to read more]

Earnings Preview: Autodesk

Posted: 22 Feb 2010 02:07 PM PST

Autodesk, Inc. (NASDAQ:ADSK) is set to release its fourth quarter fiscal 2010 results on February 23, 2010.
During its third quarter earnings release, Autodesk provided conservative guidance and forecast for the fourth quarter of 2010 was mixed, with earnings below consensus expectations and revenues in-line.
For the fourth quarter, Autodesk expects revenue to be in the range of $420-$440 million. Earnings on a non-GAAP basis are expected to be in the range of 19 cents to 24 cents a share, excluding … [visit site to read more]

Daily ETF Roundup: UNG Slides, XLF Gets A Boost

Posted: 22 Feb 2010 02:02 PM PST

Anxiety over the economic recovery returned to Wall Street Monday, as concerns over the Fed's action plan and the pullback of stimulus plans around the globe caused a slight dip in equity markets. The energy sector dragged on broader benchmarks, led by Schlumberger's decline following news of its $11 billion takeover offer for Smith International. Elsewhere, lawmakers zeroed in on Toyota and a private equity consortium neared a deal to acquire a stake in one of China's largest investment … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: CPB, LOW, SII

Posted: 22 Feb 2010 02:01 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Economic Recovery To Hurt US Treasuries

Posted: 22 Feb 2010 02:00 PM PST

Most economists now "expect the recovery to remain firmly on track."
That's the word today from the National Association of Business Economics (NABE), the group officially tasked with deciding if the economy is growing or receding. The NABE forecast 3.1% GDP growth this year, largely in line with their last broadcast back in November.
That "firm recovery" will also move the unemployment rate down one tenth of a point this year, the group forecast, from 9.7% now to 9.6% in … [visit site to read more]

Dream World Vs. Ugly Reality

Posted: 22 Feb 2010 01:58 PM PST

Like I do every day, I was scanning through the latest list of news items at The Mortgage Lender Implode-o-Meter and three, in particular, caught my eye (or rather, almost caused me to spit out my coffee).
Why? Once again, they highlight the extraordinary disconnect between the dream world that economists live in and the ugly reality that a great many Americans are forced to wade through on a regular basis.
From economic la-la land:

“Poll: Economists See ‘Healthy’ Expansion Under Way” … [visit site to read more]

TC PipeLines Misses The Mark

Posted: 22 Feb 2010 01:57 PM PST

TC PipeLines L.P. (NASDAQ:TCLP), a master limited partnership (MLP), announced weak fourth quarter results, reflecting lower equity income from Northern Border system and higher unit count. This more than offset solid earnings from the Great Lakes system and contributions from the recently acquired North Baja Pipeline. The partnership reported earnings per unit (EPU) of 56 cents, lower than the Zacks Consensus Estimate of 65 cents and last year's earnings of 67 cents.
 
Distribution … [visit site to read more]

Loss Widens At Opnext

Posted: 22 Feb 2010 01:42 PM PST

Opnext Inc. (NASDAQ:OPXT) reported revenues of $76.1 million in the third quarter of fiscal 2010, down 6.1% sequentially.
 
Opnext designs, manufactures and markets optical modules and components that transmit and receive data. These components enable high-speed telecommunication and data communication networks globally. The company’s product portfolio includes 10Gbps and 40Gbps transceiver modules, including tunable transceivers.
 
Revenue from the sales of 10Gbps and less products … [visit site to read more]

Video: Environmentally Friendly Stores Coming To An Office Depot Near You

Posted: 22 Feb 2010 01:39 PM PST

Office Depot Incorporated announced Monday that it plans to open more environmentally friendly stores beginning in June. … [visit site to read more]

Video: Crude Flat On Equity Markets & Data

Posted: 22 Feb 2010 01:39 PM PST

Front month crude prices were mostly unchanged to start off a new trading week on light equity trade and lack of economic data. … [visit site to read more]

Constellation Tops Zacks Forecast

Posted: 22 Feb 2010 01:34 PM PST

Constellation Energy Group Inc. (NYSE:CEG) topped the Zacks Consensus earnings per share (EPS) estimate of 25 cents by 5 cents in the fourth quarter of fiscal 2009. The company also surpassed the year-ago quarterly EPS of 3 cents by a massive margin of 27 cents.
The upside was fueled by improvement in cost structure. The uptrend was reflected in fiscal 2009 results as well, where the EPS of $3.36 breezed past the Zacks Consensus Estimate of $3.31. However, results in the reported fiscal year were … [visit site to read more]

Cognex Reports Sequential Growth

Posted: 22 Feb 2010 01:27 PM PST

Cognex Corporation (NASDAQ:CGNX) reported revenues of $51.3 million, down 1% year-over-year but up 25% sequentially, driven by high customer demand in each of the three primary markets that the company serves.
 
The customers for the company are classified into three primary markets: the semiconductor and electronics capital equipment (SEMI) market, the discrete factory automation market and the surface inspection market.
 
The year-over-year decline was primarily due to lower revenue … [visit site to read more]

Cyberonics Beats Zacks Estimate

Posted: 22 Feb 2010 01:12 PM PST

Cyberonics Inc. (NASDAQ:CYBX) has reported a strong third quarter in fiscal 2010. Earnings per share were 26 cents, beating both the Zacks Consensus Estimate of 25 cents and the year-ago earnings of 15 cents.
 
Sales
 
Total revenues in the quarter increased 16% year over year to $40.8 million.  Excluding a favorable foreign currency translation, net sales increased 14% year over year.
 
On a geographic basis, the U.S. contributed roughly 78% to total revenues and increased 12% … [visit site to read more]

AXA Increases Profits

Posted: 22 Feb 2010 01:01 PM PST

Insurance giant AXA (NYSE:AXA) announced a surge in its 2009 net income to €3.61 billion from €923 million last year, due to lower writedowns on investments.
Total revenues were down 3.0% to €90.1 billion, led by a 4.0% decline in life and savings and 25% decline in asset management revenues, partially offset by a slight increase in Property and Casualty revenues.
Underlying Earnings were down 6% to €3,854 million, as the recovery in Life & Savings, primarily due to improved Variable … [visit site to read more]

Berkshire Hathaway’s Charlie Munger: A Parable Of How One Nation Came To Economic Ruin

Posted: 22 Feb 2010 01:01 PM PST

Charlie Munger

This is a must read essay from Charlie Munger Vice Chairman of Berkshire Hathaway (BRK-A). Take a look for yourself and you will understand.
In the early 1700s, Europeans discovered in the Pacific Ocean a large, unpopulated island with a temperate climate, rich in all nature’s bounty except coal, oil, and natural gas. Reflecting its lack of civilization, they named this island “Basicland.”

The Europeans rapidly repopulated Basicland, creating a new nation. They … [visit site to read more]

US 10-Year Treasury Note Yield Looking Bullish

Posted: 22 Feb 2010 01:01 PM PST

Heading into the year, the outlook for Treasury Bonds seemed obvious to us. However, given persistent deflationary pressures and the possibility of a rally in the US$, it was wise to keep an open mind. And it still is. The fact is we are starting to see a divergence between Treasuries and the US$. In our Market Outlook, we showed how Treasuries have been leading the US$ since 2007.

This chart of the 10-Year Yield shows an imminent breakout. Everything is bullish here. It is a beautiful … [visit site to read more]

March Is A Good Month For Energy

Posted: 22 Feb 2010 01:00 PM PST

We are entering a time of year that in recent decades has been good for energy prices and energy equities.
Combine that with new estimates that domestic and global energy demand will rise in 2010, and we have the makings of a promising period for investors. March tends to be one of the best months of the year for both crude oil and natural gas.
As you can see on the charts below, which cover roughly the past 20 years, the price of oil at the end of March is on average nearly 4 percent higher … [visit site to read more]

Sprint Plans 4G Smartphone

Posted: 22 Feb 2010 12:57 PM PST

Sprint Nextel (NYSE:S) continues to lead the 4G hoopla in the US as the third largest wireless carrier has revealed its plan to unveil its first 4G smartphone during first-half 2010, months ahead of market expectations. As such, the prolonged wait for a 4G handset is likely to culminate in the summer of 2010.
 
The dual-mode (3G/4G capable) smartphone, rumored to be "HTC Supersonic”, is expected to run on Google's (NASDAQ:GOOG) Android platform. The device, which is likely to feature a … [visit site to read more]

J&J Returns Drug Rights

Posted: 22 Feb 2010 12:39 PM PST

In a major setback for Johnson & Johnson (NYSE:JNJ), the company has decided to return global rights of ceftobiprole to its Swiss partner, Basilea Pharmaceuticals. The decision was taken following rejection of the marketing application for the drug in Europe.
 
The European Committee for Medicinal Products for Human Use (CHMP) recently found the study results of the phase III program of ceftobiprole to be beneficial to patients. However, the Market Authorization Application (MAA) was … [visit site to read more]

Interpublic Initiated As Neutral

Posted: 22 Feb 2010 12:23 PM PST

Recently, we initiated The Interpublic Group of Companies, Inc. (NYSE:IPG), with a Neutral recommendation.
 
The third-largest advertising company in the world continues to look for strategic investments that will position it to capitalize on the emerging markets. In 2007, the company made investments in India and Brazil, further strengthening its presence in these developing markets. The company's partner in Russia is the leading advertising agency in that country. In China, the company … [visit site to read more]

Sugar ETF (SGG) Continues Freefall

Posted: 22 Feb 2010 12:09 PM PST

Volatility is nothing new to the iPath Dow Jones-UBS Sugar Total Return ETN (SGG), but the big price swings seen over the last three weeks have been truly impressive. After losing as much as 7% in trading Monday, SGG has dropped a whopping 15% this month after adding 11% in January. The sugar ETF's extreme fluctuations have occurred as a battle rages between sugar farmers and food companies, with the Department of Agriculture caught right in the middle.
Under the current system, the U.S. … [visit site to read more]

PBCT Buys Financial Federal

Posted: 22 Feb 2010 12:06 PM PST

People's United Financial, Inc. (NASDAQ:PBCT) recently announced that it has completed the acquisition of Financial Federal Corp. for $738 million, comprising both cash and stock. The acquisition has increased the assets of the company to over $22 billion.
 
Accordingly, Financial Federal shareholders are receiving $11.27 in cash and one share of People’s United common stock. Based on the closing price of People’s United on Nov 20, 2009, the last business day before the deal was announced, … [visit site to read more]

Forex Trading: EURUSD Moves Up In Late Day Move Higher, But Pretty Good Upside Resistance.

Posted: 22 Feb 2010 12:03 PM PST

The EURUSD is moving higher in the late NY trade.  The Dow is up around 10 points.  March Oil futures are up 0.35 cents.  I can try to explain the move but suffice it to say, shorts who got no satisfaction to the downside, covered and pushed the price up a bit in afternoon trading.   The pair does have resistance against the 200 bar MA on the 5 minute chart at the 1.3611 level. The 50% retracement of the days range comes in at 1.3613.  The 100 hour MA on the chart … [visit site to read more]

3 ETFs To Play Emerging Market Growth Domestically

Posted: 22 Feb 2010 12:01 PM PST

According to projections from the International Monetary Fund (IMF), China, India and Brazil are expected to be the economic growth leaders of the year and it is possible to reap the benefits of this international growth domestically.

Over the last year, the MSCI Emerging Markets Index has gained more than 65% and prices in emerging stock markets like China have followed.  In fact, China’s main stock market index trades at a price-to-earnings ratio of more than 30, nearly 50% higher than … [visit site to read more]

The Trust Fund Con

Posted: 22 Feb 2010 12:00 PM PST

Social Security is in trouble. According to the Social Security Trustees Report, the Social Security program was in a $7.7 trillion hole as of January 1, 2009. That means Washington would have needed $7.7 trillion on that date, invested at prevailing rates, to deliver for the next seventy-five-years on the promises that the federal government has made. But we actually need much more than that to keep Social Security healthy, because it will experience larger and larger deficits both in the near … [visit site to read more]

Las Vegas Sands Reports In-Line

Posted: 22 Feb 2010 11:58 AM PST

Las Vegas Sands Corp. (NYSE:LVS) reported fourth quarter earnings of 3 cents per share, a penny over the Zacks Consensus Estimate. The company had incurred a loss of 4 cents in the year-ago period. Results reflected the strong performance of its Macau business and the benefits of its cost-containment measures, though business in Las Vegas remained weak.
However, on a GAAP basis, the company has narrowed its loss in the quarter. Sands incurred a loss of $113.9 million or 17 cents a share, compared … [visit site to read more]

Zions Upgraded To Neutral

Posted: 22 Feb 2010 11:48 AM PST

Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation on the shares of Zions Bancorp. (NASDAQ:ZION) to Neutral from Underperform. Although the current economic turmoil has weakened both the revenue growth and the operating leverage of Zions, we believe that once the economy stabilizes, it will have a substantial positive effect on the earning power of the company.
 
Zions' fourth-quarter loss of $1.26 per share came in substantially lower … [visit site to read more]

Barrick Gold Sees Some Sparkles

Posted: 22 Feb 2010 11:45 AM PST

Barrick Gold Corporation (NYSE:ABX) reported a $604 million or 60 cents per share profit in the fourth quarter of 2009, almost double last year's earnings of $277 million or 32 cents. Reported earnings were also ahead of the Zacks Consensus Estimate of 57 cents. The Canadian gold miner generated revenues of $2.4 billion, 13% higher than the year-ago level.
The realized gold price for the quarter was $1,119 per ounce, up 38% from the year-ago level. Gold production reached 1.90 million ounces at … [visit site to read more]

Video: Market Movers: SLB, SII, HRB, PWR, VIA, MWW

Posted: 22 Feb 2010 11:36 AM PST

The latest news and information on U.S. stocks that are moving the market. … [visit site to read more]

Label Expansion For BIIB’s Rituxan

Posted: 22 Feb 2010 11:32 AM PST

Recently, Biogen Idec (NASDAQ:BIIB) and Genentech, Inc., a wholly-owned member of the Roche Group, received approval from the US Food and Drug Administration (FDA) for the use of Rituxan (rituximab) plus fludarabine and cyclophosphamide (FC) in patients with previously untreated as well as treated CD20-positive chronic lymphocytic leukemia (CLL).
 
The approval was based on data from two phase III studies, CLL8 and REACH, which evaluated the safety and effectiveness of Rituxan. One study, … [visit site to read more]

Amgen’s Date With The FDA

Posted: 22 Feb 2010 11:16 AM PST

The US Food and Drug Administration (FDA) recently accepted Amgen, Inc.'s (NASDAQ:AMGN) complete response submission for Prolia, the company's lead pipeline candidate, and established an action date of Jul 25, 2010. Amgen is seeking approval for the use of Prolia (denosumab) for the treatment of postmenopausal osteoporosis (PMO). 

Amgen had initially submitted a Biologic License Application (BLA) for Prolia in Feb 2009. However, Amgen faced a setback in Oct 2009 when the FDA’s Division of … [visit site to read more]

NCS Announces Reverse Split

Posted: 22 Feb 2010 11:01 AM PST

NCI Building Systems Inc. (NYSE:NCS) announced a reverse stock split at a 1-for-5 ratio of its outstanding common stock. The reverse stock split, which was expected to be effective on or about Mar 5, 2010, was approved by the stockholders at the company's annual meeting on Feb 19. The company's share price went up 4.6% to $2.05 on the day of announcement. 

Every 5 shares of the company’s common stock that are issued and outstanding will be automatically combined into one issued and … [visit site to read more]

Is The Borders Group Stock Trading At A Very Steep Discount?

Posted: 22 Feb 2010 11:01 AM PST

Borders Group (NYSE:BGP) ended last week up 31.71% and is up roughly 38% YTD. So far this year, the company has had a slew of company specific news, as well as a volatile stock price. The chart below maps out the year to date daily rate of return vs. the daily volume in shares traded. This will provide a timeline of news flow and will give you a visual as to how the share price has reacted to it.

1. On January 13, shares jumped over 20% on no news, most likely the result of a large investor … [visit site to read more]

S&P P/E Ratios: Following The Icarus Flight Plan

Posted: 22 Feb 2010 11:00 AM PST

The Dow rose 11 points on Friday, or 0.11%. Binary code enthusiasts aside, that's not much to get excited about, neither for bulls nor bears. In fact, the past couple of months have pretty much been a wash. Both the Dow and the broader S&P 500 sit more or less where they began the year. So, where to from here?
Your editor has no idea where the markets will go…only an inkling of where they ought to go. And where they ought to go is back to the mean, as everything eventually does. Right … [visit site to read more]

Campbell’s Beats Zacks Consensus

Posted: 22 Feb 2010 10:57 AM PST

Campbell Soup Company (NYSE:CPB) reported results for the second quarter of fiscal 2010 with earnings of 74 cents per share, well above the Zacks Consensus Estimate of 52 cents. Quarterly earnings were up 15.6% year-over-year.
Net sales for the quarter increased marginally by 1.5% year-over-year to $2.2 billion, attributable to a 2% decline in volume and mix and a 2% decline from increased promotional spending, which was partially offset by 4% favorable currency translation and 1% gain from price … [visit site to read more]

Video: Dollar Declines To Start Week

Posted: 22 Feb 2010 10:51 AM PST

It was a weak start to the week for the greenback as a lack of econoic data and global market rally kept investors away from safer-haven currencies. … [visit site to read more]

Wider Q4 Loss For Regeneron

Posted: 22 Feb 2010 10:46 AM PST

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) suffered a fourth-quarter net loss of $36.5 million, or 46 cents per share, which was higher than the Zacks Consensus Estimate of a net loss of 34 cents. The company suffered a loss of $29.5 million, or 37 cents per share in the year ago quarter. The wider loss in the reported quarter despite higher revenues was attributable to higher research and development expenses. 

Quarterly Results 

Total revenue for the quarter came in at $96.8 … [visit site to read more]

Contrarian Bulls Attracted To Salix

Posted: 22 Feb 2010 10:44 AM PST

(NASDAQ:SLXP) - Salix Pharmaceuticals, Ltd. - Contrarian bullish options trading initiated on the specialty pharmaceuticals firm indicates one investor anticipates a rebound in Salix shares by March expiration even though the price of the stock slumped 7.50% to $23.66 during the first half of the trading session. It looks like the optimistic individual utilized a three-legged options combination strategy in order to assume a near-term bullish stance on the stock. The investor sold 3,500 puts at the … [visit site to read more]

S&P Uplifts Johnson Controls

Posted: 22 Feb 2010 10:37 AM PST

Standard & Poor’s (S&P) Ratings Services has upgraded its outlook on Wisconsin-based manufacturer of automotive interiors, batteries and other control equipment auto parts and building systems, Johnson Controls Inc. (NYSE:JCI) to "positive” from "stable.” The revision was based on the company's revenue and operating margins. S&P has also affirmed its BBB corporate credit rating on the company.
Johnson Controls, a Zacks #1 Rank stock, commands a strong position in its markets. The … [visit site to read more]

Improved Outlook For Itron

Posted: 22 Feb 2010 10:31 AM PST

Itron Inc. (NASDAQ:ITRI) reported fourth-quarter earnings of 82 cents per share, above the Zacks Consensus Estimate of 60 cents and 15.5% higher than the prior-year EPS of 71 cents. The earnings growth was primarily driven by higher revenues. 

Quarterly revenue of $476.8 million was up 10.3% from $432.4 million in the fourth quarter of 2008. Itron North America revenue increased 16% compared to prior-year quarter as a result of higher shipments of OpenWay meters and modules, partially offset … [visit site to read more]

School Specialty Narrows Outlook

Posted: 22 Feb 2010 10:16 AM PST

School Specialty Inc. (NASDAQ:SCHS) reported third quarter loss of 98 cents per share which was 2 cents better than the Zacks Consensus Estimate. The loss improved 21.6% year-over-year. 

During the quarter, the company posted a 15.3% decline in total revenue to $103.1 million from $121.7 million in the year-ago period. The decrease was primarily attributable to the contraction of sales in the Educational Resources segment, which dipped by $14.7 million. In addition, the general economic … [visit site to read more]

Credit Suisse Launches Hedge Fund ETN (CSLS)

Posted: 22 Feb 2010 10:15 AM PST

Credit Suisse, one of the world's largest financial services providers, announced Monday the launch of the Credit Suisse Long/Short Liquid Index (Net) ETN (CSLS), a product designed to correlate to the performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund Index. But the new ETN achieves hedge fund-like exposure in a unique manner. The index to which CSLS is linked, the Credit Suisse Long/Short Liquid Index, is designed to reflect the return of a basket of 18 liquid, … [visit site to read more]

Peabody To Cut CO2 Emissions

Posted: 22 Feb 2010 10:01 AM PST

Peabody Energy Corp. (NYSE:BTU) signed an agreement with GreatPoint to pursue development of coal-to-gas and coal-to-hydrogen projects in the U.S. and around the world with carbon capture and storage (CCS) that would achieve near-zero carbon emissions while liberating vast quantities of stranded oil. 

The projects would be developed using GreatPoint’s proprietary Bluegas technology, an alternative to conventional gasification. This technology utilizes catalytic hydromethanation to create … [visit site to read more]

US Unemployment And The Technicolor Depression

Posted: 22 Feb 2010 10:00 AM PST

Worse than the Great Depression…
Stocks ended Friday trading not much higher than where they began. Gold rose $3. Oil is trading over $80 a barrel this morning. And stocks in Asia are "recovering" from the Fed's discount rate increase of last week.
If the market wanted to crash, it would have plenty of reasons to do so. China is tightening bank lending rules. Here in the US, there is the aforementioned Fed discount rate increase. In Europe, Greece is going back to the marketplace to … [visit site to read more]

Nordstrom Plans New Rack Store

Posted: 22 Feb 2010 09:46 AM PST

Nordstrom Inc. (NYSE:JWN), a leading fashion specialty retailer, recently announced plans to open a new 43,000 square feet Nordstrom Rack in the Carolina Pavilion shopping center in south Charlotte. Carolina Pavilion spans across 732,000 square feet of space and hosts stores of leading retailers like Target Corp. (NYSE:TGT) and Kohl's Corp. (NYSE:KSS).
 


The new store would be the second of its kind in North Carolina. The new Nordstrom Rack is expected to open in the spring of 2011 and would … [visit site to read more]

Lowe’s Beats Zacks Consensus

Posted: 22 Feb 2010 09:38 AM PST

Lowe's Companies, Inc. (NYSE:LOW), the world's second largest home improvement retailer, recently reported better-than-expected fourth-quarter 2009 results, showing signs of improvement with consumers now willing to spend on remodeling projects.
The shares of Lowe's rose in pre-market trading, but has since fallen 9 cents per share to $23.04 by mid-day.
The quarterly earnings of 14 cents a share came ahead of the Zacks Consensus Estimate of 12 cents, and climbed 27.3% from 11 cents posted in … [visit site to read more]

DDR’s FFO Improves

Posted: 22 Feb 2010 09:31 AM PST

Developers Diversified Realty Corp. (NYSE:DDR), a real estate investment trust (REIT), reported fourth quarter 2009 FFO (fund from operations) of ($28.0) million or (14 cents) per share compared to ($119.3) million or (98 cents) per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.

Excluding non-recurring charges of $90.8 million … [visit site to read more]

The Dividend Stock Recovery: Get Ready For A High-Yield Bonanza

Posted: 22 Feb 2010 09:25 AM PST

The Dividend Stock Recovery: Get Ready for a High-Yield Bonanza
by Alexander Green, Chief Investment Strategist
Monday, February 22, 2010: Issue #1201
It's been a tough time for income investors lately.
Ten-year Treasuries pay less than 4%. The S&P 500 yields just over 2%. Money market fund returns are microscopic, paying an average of just 0.05%. (At that rate, it will take your money one thousand years to double.)
What should you do?
Take a look not at the stock market, but inside it. … [visit site to read more]

Forex Trading: EURUSD Struggles But Maintains A Bearish Bias

Posted: 22 Feb 2010 09:24 AM PST

The EURUSD went down, tested support at the 1.3573/75 area and bounced. The move higher went up and tested the 100 bar MA on the 5 minute chart  (blue line in the chart above) but failed. Since that time the pair has been mired in the narrow trading range again.  There is little in the way of momentum at the moment. 
With the price below the 100 bar MA on the 5 minute chart the bears remain in control (at 1.3604).  The price will still need to get through the 1.3573/75 … [visit site to read more]

Toyota Saves $100 Million On Recall

Posted: 22 Feb 2010 09:18 AM PST

A document, reported by The Detroit News on Sunday, has revealed that Toyota Motor (NYSE:TM) has saved $100 million by negotiating with regulators for a limited recall of 2007 Toyota Camry and Lexus ES cars over a problem that could cause unintended acceleration. The recall was related to a September 2007 recall to secure floor mats that could trap the cars’ gas pedals.
The document is presented to the Oversight and Government Reform Committee, one of three panels holding hearings over the next … [visit site to read more]

Pinnacle’s Posts Q4 Loss

Posted: 22 Feb 2010 09:16 AM PST

Pinnacle West Capital Corp. (NYSE:PNW) reported a fourth-quarter net loss of 16 cents per share compared to the Zacks Consensus Estimate of a net loss of 11 cents and net loss of 8 cents posted last year. For the full year 2009, the company reported earnings of $2.33 per share, modestly above the Zacks Consensus Estimate of $2.31 and below the year ago earnings of $2.36.
 
Earnings for both the periods were impacted by higher operations and maintenance costs, lower marketing and trading … [visit site to read more]

EnergySolutions (NYSE:ES) — Like Steve Creamer, It’s Time To Hit The Exit

Posted: 22 Feb 2010 09:15 AM PST

EnergySolutions, the Salt Lake City-based provider of specialized nuclear services, recently announced a change in its executive team, with Val John Christensen taking over the CEO mantle from Steve Creamer. What exactly does this mean for the company?
Agora Financial expert editor Jim Nelson, reporting from Baltimore, Maryland, has a close read of the situation:
"Friday evening, we wrote to you about some big news in the nuclear energy world, as well as an unfortunate second piece of … [visit site to read more]

Singapore Stock Market Update For Monday 22 February

Posted: 21 Feb 2010 06:26 PM PST

Morning Highlights
There Are No Quick Picks For Today
The STI opens up at 2772.21. Our last week position on:

Genting Singapore bought at 0.94, Stop Loss at 0.895 and Take Profit at 0.985 (Small Risk) – PROFT, CLOSED at 0.97

Next, MAS imposed restriction to cool property market. 1% levies on first 180,000, 2% on the next 180,000 and 3% on remaining on seller. As such, property sector might face selling pressure. Our current stand for Property Sector: weak
There  are some blue chips … [visit site to read more]

FX Options Weekly Outlook

Posted: 21 Feb 2010 02:00 PM PST

Jason Ayres, founder of OptionSource.net, provides a look a head of this week’s FX activity. … [visit site to read more]
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