Daily Markets - Financial News And Opinions |
- Are We Setting Up Another Popped Gap Play Like March 9?
- Stock Market News Briefs: American International Group, Inc., Genuine Parts Company, Goldman Sachs Group, Inc. (The), Kimberly-Clark Corporation, Pepsico, Inc., Tiffany & Co., UBS AG, Waddell & Reed Financial, Inc., Williams-Sonoma, Inc.
- SunPower Beats Consensus
- AMB’s New REIT Industry Report
- Forex Trading: EU Summit Not Expected To Help EURO
- Moody’s Rates Hartford Notes
- Health Care ETFs In Focus After Historic Vote
- Forex Trading: EUR/USD Bearishness Approaches Key 1.3400 Support
- Petrobras Profit Beats Estimates
- As Pulp Prices Rise… This Industry Promises Real Paper Profits
- Ciena Acquires Nortel’s Assets
- Stocks To Watch On Monday 22 March
- Forex Trading: USDJPY Falls Below 100 Day MA At 90.06
- More Bank Failures, Tally Hits 37
- Swiss Franc: The Upside Prevails
- Japanese Yen: Rebound
- British Pound: The Upside Prevails
- Euro: Rebound
- The Stock Market’s Rate Of Ascent Is Changing
- Forex Trading: EURUSD Heads Below 1.3500 As Greek Comments Weigh.
- Forex Trading: USDCHF Moving Above The 200 Hour MA
- Forex Trading: GBPUSD Having Trouble Moving From The Lows. Budget On Wednesday
- Canadian Active ETFs Poised For Growth
- Forex Trading: EURUSD Testing Support As NY Day Gets Underway
- Forex Trading: Usd/Chf Bounces Off 100 Hour M/A, Now Tests 200 Hour
- Additional Rally Fuel For The Metals And Mining ETF?
- Forex Trading: EUR/USD Breaks Trend, But Can’t Hold….
- Stock Buy: Royal Bank Of Canada
- Stock Buy: Fairchild Semi
- Bull Of The Day: SanDisk Corp. (SNDK)
- Bear Of The Day: Eni SpA
- Stock Buy: Whirlpool Corp.
- Stock Buy: Estee Lauder
- Mutual Funds: Top 5 Technology Funds
- Raser Steadily Improving
- Stein Mart Beats Zacks Ests
| Are We Setting Up Another Popped Gap Play Like March 9? Posted: 22 Mar 2010 07:51 AM PDT One thing I’ve been trying to highlight lately in these intraday 'update’ posts is the repetitive character or nature of some of the price patterns that have occurred… which have been virtual road-maps to the future. And they always say “Those who do not learn from the mistakes of the past are doomed to repeat them.” A corollary is that those who know the past can profit from it if history repeats. Let’s take a quick look at a pattern that reminds me almost exactly of the same … [visit site to read more]
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| Posted: 22 Mar 2010 07:47 AM PDT AIG (NYSE:AIG) former CEO Greenberg reached a deal with UBS (NYSE:UBS) to sell most of his shares in AIG, an estimated 10 million shares, for $278.2 million Kimberly-Clark (NYSE:KMB) said it continues to see full-year earnings of $4.80-$5.00 FBR raised its rating on Waddell & Reed (NYSE:WDR) to “outperform” from “perform,” taking the price target from $36 to $40 PepsiCo (NYSE:PEP) begins its two-day investor conference saying that earnings for the year will be up 11-13 … [visit site to read more]
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| Posted: 22 Mar 2010 07:46 AM PDT SunPower Corp. (SPWRA) reported fourth-quarter EPS of 47 cents (including 3 cents of accounting investigation expense), better than the Zacks Consensus Estimate of 34 cents. However, on a GAAP basis the company reported a quarterly EPS of 9 cents, compared to 20 cents in the third quarter of fiscal 2009. Operational Results
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| AMB’s New REIT Industry Report Posted: 22 Mar 2010 07:30 AM PDT AMB Property Corp. (NYSE:AMB), a leading real estate investment trust (REIT), recently unveiled a new research report on the outlook for industrial rent growth in the U.S. The in-depth study analyzed the relationship between rent growth and market fundamentals, and concluded that improving economic conditions will eventually fuel a recovery in industrial real estate and consequently raise rents to more sustainable levels.
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| Forex Trading: EU Summit Not Expected To Help EURO Posted: 22 Mar 2010 07:18 AM PDT With Japan on a long weekend, FX trading activity was somewhat limited. Over the weekend, US President Obama passed his healthcare legislation despite intense and vocal opposition. While the short term ramifications should be limited, adding around $1 trillion additional spending over the next decade to an already worrying debt load is not insignificant. In the not so distance future, we expect bond yields to react (head higher) causing a negative reaction in the USD. However, right now the … [visit site to read more]
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| Posted: 22 Mar 2010 07:15 AM PDT On Friday, rating agency Moody’s Investors Service, a division of Moody’s Corp. (NYSE:MCO), assigned a stable rating of Baa3 on Hartford Financial Services Group Inc.'s (NYSE:HIG) $1.1 billion in senior notes that the company plans to sell as part of its preparation to repay the entire $3.4 billion of bailout money it received from the government under the Troubled Asset Relief Program (TARP) at the height of the credit crisis.
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| Health Care ETFs In Focus After Historic Vote Posted: 22 Mar 2010 07:07 AM PDT The U.S. House of Representatives worked late into the night on Sunday to pass historic health care legislation, capping months of intense debate and dealmaking. Sweeping changes to the nation's health care system seemed like a done deal earlier this year before a major upset in a special Senate election sent Democrats back to the drawing board. As the scales have swung back and forth and rumors have swirled over the makeup of the final legislation, investors have scrambled to analyze the … [visit site to read more]
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| Forex Trading: EUR/USD Bearishness Approaches Key 1.3400 Support Posted: 22 Mar 2010 07:06 AM PDT Bearish price action on EUR/USD as of Monday (3/22/2010) morning New York session has continued its breakdown momentum below the bearish rising wedge pattern for the third day in a row. This occurs within the context of an overall downtrend that has been in place since early December. Currently, price is approaching key support in the 1.3400 price region. Any significant breakdown below this support would establish a new long-term low, confirm a downtrend continuation, and potentially … [visit site to read more]
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| Petrobras Profit Beats Estimates Posted: 22 Mar 2010 07:00 AM PDT Brazilian state-run energy giant Petroleo Brasileiro S.A. (NYSE:PBR), or Petrobras S.A. announced encouraging fourth quarter results, helped by rebounding oil prices and lower operating expenses. Earnings per ADR came in at R$1.86 ($1.04), comfortably ahead of the Zacks Consensus Estimate of 90 cents. For 2009, Petrobras earned R$6.60 ($3.67) per ADR, again beating our estimate of $3.27.
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| As Pulp Prices Rise… This Industry Promises Real Paper Profits Posted: 22 Mar 2010 06:51 AM PDT As Pulp Prices Rise… This Industry Promises Real Paper Profits
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| Ciena Acquires Nortel’s Assets Posted: 22 Mar 2010 06:45 AM PDT Ciena Corporation (NASDAQ:CIEN) announced that it has completed the acquisition of substantially all of the optical networking and Carrier Ethernet assets of Nortel Networks' (NYSE:NT) Metro Ethernet Networks (MEN) business for $773.8 million in cash.
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| Stocks To Watch On Monday 22 March Posted: 22 Mar 2010 06:37 AM PDT (EEGI.PK) -Eline Entertainment Group is a penny stock to watch. The stock is catching the attention of market players after the earnings report. the stock exploded to the upside Friday morning after closing above $0.020 on Thursday. Resistance is now located at $0.025 but if EEGI can push up into the $0.027’s, I feel it could retest $0.035 or above. Chart looks bullish. Keep an eye for a possible breakout over $0.025. (NYSE:AIG) -American International Group closed just above the 5 day … [visit site to read more]
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| Forex Trading: USDJPY Falls Below 100 Day MA At 90.06 Posted: 22 Mar 2010 06:31 AM PDT The USDJPY could not extend above the 90.72 resistance area (yellow line in the chart above) with any conviction, coupled with health care stock selling and Eurozone bickering has the market selling the risky currency pairs. This has sent the USDJPY sharply lower. In the process, the 100 and 200 hour MAs were broken (at 90.40 area) and now the price has also moved back below the 100 day MA at 90.06.
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| More Bank Failures, Tally Hits 37 Posted: 22 Mar 2010 06:30 AM PDT Although the economy is showing signs of a gradual recovery with large financial institutions stabilizing, tumbling home prices, soaring loan defaults and rising unemployment continue to take their toll on small banks.
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| Swiss Franc: The Upside Prevails Posted: 22 Mar 2010 06:18 AM PDT |
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| British Pound: The Upside Prevails Posted: 22 Mar 2010 06:17 AM PDT |
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| The Stock Market’s Rate Of Ascent Is Changing Posted: 22 Mar 2010 06:01 AM PDT I feel the market is tilting? Its rate of ascent since the March 9 low has continually and inexorably been flattening with the rate of change, or slope, shifting from steep to nearly flat as depicted in the following charts (click on image to enlarge): We all look back fondly to last year when, if you had the courage, you could buy nearly any stock and see it appreciate handsomely within weeks or months. Then in November, rather then bouncing off the lower trendline and heading to … [visit site to read more]
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| Forex Trading: EURUSD Heads Below 1.3500 As Greek Comments Weigh. Posted: 22 Mar 2010 05:54 AM PDT The EURUSD has headed back below the 1.3500 level. The Greek Deputy PM Theodoros Pangalos, was on the wires saying that the Germans want to the EURO to weaken to boost exports. He also added that Germany allows its banks to speculate against Greece. This internal bickering is not what the EU needs as it deals with the crisis. Germany's Merkel continues to chatter about Greek getting its own debt in order.
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| Forex Trading: USDCHF Moving Above The 200 Hour MA Posted: 22 Mar 2010 05:48 AM PDT The USDCHF moved above the 200 hour MA at the 1.0617 level. We need to see the momentum to the upside now for the pair to help confirm the directional move. The move above the key moving average is the first move since March 10th. The SNB reiterated this morning that it will continue to act decisively to prevent an excessive appreciation of the CHF. The next topside target is 1.0655 where the 50% retracement comes in at 1.0655.
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| Forex Trading: GBPUSD Having Trouble Moving From The Lows. Budget On Wednesday Posted: 22 Mar 2010 05:27 AM PDT The UK Budget on Wednesday will be a tough one for Chancellor of Exchequer AllistaIr Darling. Balancing stimulus with debt will be a difficult act. Add to it the party loyalty implications as the UK moves toward a tough election battle. Last week BOE Sentance warned of a possible double dip What to do? As a result, the pair may continue to remain contained near the bottom of the range. From a technical perspective, the price is trying to move and … [visit site to read more]
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| Canadian Active ETFs Poised For Growth Posted: 22 Mar 2010 05:01 AM PDT As the Active ETF space in the United States has grown quite rapidly in recent months, with total assets in excess of $270 million as of March 1, 2010, the Canadian Active ETF space is still in relative infancy. Where the US market currently has 5 distinct players in the field, with lots more lining up to launch Active ETFs, the Canadian market is monopolized by just one player - Horizons AlphaPro, managing around C$100 million in these products. Why is there potential in the Canadian … [visit site to read more]
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| Forex Trading: EURUSD Testing Support As NY Day Gets Underway Posted: 22 Mar 2010 04:53 AM PDT The market is testing support level in early NY trade. The 1.3513 level was a key level the market used as support earlier in the month when the EURUSD was last at this level. The market used the level as support, fell through then rallied from the level. Over the last few days the price has been a level the market has gravitated toward. Each time the price has dipped the market rallied back above. Watch this level this morning. If the support is going to … [visit site to read more]
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| Forex Trading: Usd/Chf Bounces Off 100 Hour M/A, Now Tests 200 Hour Posted: 22 Mar 2010 04:13 AM PDT As noted in an earlier post Usd/Chf met some good support around 1.0575-80 level with the 100 hour M/A sitting at 1.0573. It has since rebounded and now threatens to break above the 200 hour M/A at 1.0617. This area should be a good level of resistance in a session that has seen a tight range. If the pair hold a move back to 1.0600 is likely. A break above should bring Usd/Chf at least to … [visit site to read more]
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| Additional Rally Fuel For The Metals And Mining ETF? Posted: 22 Mar 2010 04:01 AM PDT “The metals and mining industry group has been a market leader during the past year, with the SPDR S&P Metals and Mining (XME) exchange-traded fund soaring more than 117% during the prior 52 weeks. Comparatively, the S&P 500 index has rallied some 48% during the same time frame. What’s more, XME has maintained its momentum into 2010, advancing more than 9% since the start of the year,” Joseph Hargett Reports From Forbes. Hargett goes on to say, “From a technical perspective, … [visit site to read more]
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| Forex Trading: EUR/USD Breaks Trend, But Can’t Hold…. Posted: 22 Mar 2010 03:20 AM PDT The EUR/USD broke through a trendline on the 15 minute chart when it made it's session high of 1.3546, but it could not establish itself above the line. The trendline, which started on March 17 is now parallel with the 100 bar moving average at 1.3532. Additionally, there is further resistance at this level with the 23.6% fibonacci retracement on the hourly chart also coming in at … [visit site to read more]
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| Stock Buy: Royal Bank Of Canada Posted: 21 Mar 2010 10:00 PM PDT Royal Bank of Canada (NYSE:RY), Canada’s largest bank, continues to see an increase in net income as the global economy and credit conditions improve.
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| Posted: 21 Mar 2010 10:00 PM PDT Fairchild Semiconductor (NYSE:FCS) analysts continue to raise earnings estimates, pushing shares higher since beings featured as an Aggressive Growth Zacks Rank Buy in January.
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| Bull Of The Day: SanDisk Corp. (SNDK) Posted: 21 Mar 2010 10:00 PM PDT SanDisk (NASDAQ:SNDK) has a strong product portfolio and is a significant player in the U.S. flash memory market. The company posted very encouraging fourth quarter 2009 results, exceeding the management guidance.
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| Posted: 21 Mar 2010 10:00 PM PDT Following the presentation of the company’s 2010-2013 strategic plans, we are downgrading Eni SpA (NYSE:E) ADRs to Underperform from Neutral. Our primary concerns for the company are the lack of a clear dividend policy, a declining dividend yield trend, cyclical low returns, doubts over rising competitive threats to its core gas business and quality of the upstream growth profile.
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| Posted: 21 Mar 2010 10:00 PM PDT Whirlpool Corp. (NYSE:WHR) recently jumped above a key level to hit a new 52-week high at $89.40 on the company’s strong Q4 results from late February that included impressive international growth.
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| Posted: 21 Mar 2010 10:00 PM PDT Estee Lauder (NYSE:EL) beat second-quarter consensus estimates by 4.9% and guided higher for the third quarter.
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| Mutual Funds: Top 5 Technology Funds Posted: 21 Mar 2010 10:15 AM PDT The importance of technology continues to increase in our daily lives and the future prospects of this sector only seem brighter. However, the boom of tech funds in the late nineties and their subsequent downfall during the decline that followed has invoked a certain degree of skepticism even among those bullish on this category. But for those investors, who seek long-term and aggressive growth, investing in funds that invest in technology and innovation could be a prudent option in times to … [visit site to read more]
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| Posted: 19 Mar 2010 05:15 PM PDT Raser Technologies Inc. (RZ) reported a quarterly loss per share of 7 cents, less than the Zacks Consensus loss per share of 11 cents and 39 cents in the fourth quarter of fiscal 2008. The improvement in earnings came despite shares outstanding increasing to 70.9 million in the reported quarter from 57.7 million in the year-ago quarter. The trend was reflected in fiscal 2009 results also where loss per share of 28 cents was less than the loss of 79 cents in fiscal 2008. Raser Technologies … [visit site to read more]
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| Posted: 19 Mar 2010 04:55 PM PDT Stein Mart Inc. (NASDAQ:SMRT) swung to a fiscal fourth-quarter GAAP net income of $2.7 million, from a GAAP net loss of $56.2 million in the year-ago quarter. Excluding special items, adjusted earnings per share came in at 19 cents, which came in ahead of the Zacks Consensus Estimate of 17 cents. The better-than-expected performance was primarily driven by a robust increase in gross margin and aggressive cost saving initiatives. The company has an impressive track record of beating earnings … [visit site to read more]
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