Mar 31, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

CRM Witnesses Customer Growth

Posted: 31 Mar 2010 12:08 PM PDT

Growing enterprise cloud computing company Salesforce.com (NYSE:CRM) recently declared through a press release that it had substantially increased its customer base in the Asia-Pacific region. During the fiscal year ended January 31, 2010 the company added 1800 new customers in the region, taking the total to 70,000.

This apart, Salesforce is poised to grow strongly in 2010. To enhance its cloud services, the company has recently introduced Spring 10, the company's 31st-generation service, with … [visit site to read more]


Ways To Protect Against Currency Debasement

Posted: 31 Mar 2010 12:01 PM PDT

As developing nations around the world have turned to government funded stimulus packages to ignite their economies, a nation’s debt and currency debasement should be of much concern.

Most recently, a study indicated that the U.S. national debt has ballooned nearly 12 fold over the last 30 years.  Additionally, over this same time span the ratio of debt to GDP has gone from nearly one-third to 85%.  During this time of exploded debt, GDP has only expanded 5.3 times, indicating that debt is … [visit site to read more]

Regulatory Setback For Abbott

Posted: 31 Mar 2010 11:51 AM PDT

Abbott Labs (NYSE:ABT) and partner AstraZeneca (NYSE:AZN) faced a regulatory setback recently when the US Food and Drug Administration (FDA) issued a complete response letter for their experimental drug, Certriad.

Certriad is a fixed-dose, single pill formulation of Abbott's next-generation triglycerides lowering pill, TriLipix and AstraZeneca's powerful statin drug, Crestor. This new combination fenofibrate-statin looks to offer the best HDL-raising, LDL/triglyceride-lowering efficacy … [visit site to read more]

Starwood Upped To Outperform

Posted: 31 Mar 2010 11:34 AM PDT

We are upgrading our recommendation on Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) to Outperform.

Starwood has reported a fourth quarter loss of $186 million or $1.03 per share from continuing operations. However, excluding special items, the company has earned $95 million or 51 cents per share in the reported quarter. Adjusted earnings were well ahead of the Zacks Consensus Estimate of 22 cents per share, primarily driven by better-than-expected revenue.

Revenue fell 1.2% from the … [visit site to read more]

Healthcare Reforms Hike Med Cost

Posted: 31 Mar 2010 11:18 AM PDT

The recent health care reform has caused unrest amongst the US employers, who will now have to spend more on their employees' medical plans. The new reform has made taxable the subsidies on retiree drugs offered by the government.
 
Companies that provide prescription drug benefits for retirees have been getting subsidies covering 28% of eligible costs but were allowed a 100% deduction as costs. Therefore, the subsidies received were also allowed to be deducted for computation of … [visit site to read more]

Forex Trading: EURUSD Consolidating The Gains

Posted: 31 Mar 2010 11:08 AM PDT

The EURUSD has chosen to consolidate the gains for the day and allow the 100 bar MA on the 5 mnute chart to catch up. The channel support was broken but downward momentum was shallow. On the topside the price made new highs but it too stalled. So it is wait and see.
For those inclined to trade the short side, the 1.3542 area continues to be good resistance for the pair. The level is the 50% midpoint of the March 2010 range. A move down would have additional support at the 1.3505.
For bulls, an … [visit site to read more]

Moody’s Down On Alcoa

Posted: 31 Mar 2010 11:02 AM PDT

Rating agency Moody’s Investors Service (NYSE:MCO) has reaffirmed its “Baa3″ rating on Alcoa Inc.'s (NYSE:AA) Australian affiliate and assigned a "Negative” outlook, reports AP. Moody's judges obligations rated "Baa” to have moderate credit risk. The agency considers such debt as medium-grade.
 
Alcoa's debt-equity ratio has hovered around 60% in 2009, with return on equity being consistently negative. Moody's is skeptic on Alcoa's high inventories and the possible decline in … [visit site to read more]

The Investing Secrets Of Warren Buffett

Posted: 31 Mar 2010 11:01 AM PDT

Investing icon Warren Buffett is known for the market-beating returns that his company, Berkshire Hathaway Inc. (BRK-A), has returned over the past few decades. His success is due to some very simple investing strategies that he adheres to religiously. Here are 10 of his best:

Think Like an Owner: Buffett got this from his mentor, Benjamin Graham, who counseled investors that a stock is only as good as the company backing it up. Investors too often look at the stock and the company as … [visit site to read more]

Why Commodities Are Looking Weak In The Short Run

Posted: 31 Mar 2010 11:00 AM PDT

With the Fed's excessive pumping of liquidity into the market, you would expect hard assets like gold to continuously rise higher. Nonetheless, gold recently dipped under $1,100, down almost 10% from its peak just a few weeks ago. Turns out, while expectations of inflation should push prices higher, at least in the short run, there are other critical factors — like renewed dollar strength — also at work in the commodities market.
According to The Pragmatic … [visit site to read more]

Sheraton Braintree Gets New Owner

Posted: 31 Mar 2010 10:47 AM PDT

The Sheraton Braintree Hotel, a 374-room hotel spanning across 10.2 acres in Braintree, Massachusetts, has recently got a new owner in the form of Carpenter & Co. Inc., a leading real estate company in the U.S. Host Hotels & Resorts Inc. (NYSE:HST), the largest lodging real estate investment trust (REIT) in the U.S., had sold Sheraton Braintree in February 2010 for $9.13 million to Karma Trustee LLC, a group of investors.
 
The hotel was then closed for extensive interior and … [visit site to read more]

Three Very Nice Inflation-Adjusted Securities

Posted: 31 Mar 2010 10:41 AM PDT

Within my own blog and outside for other publications such as Seeking Alpha, I have been recommending that investors unhappy with miserly dividends from short and intermediate term government securities and worried about stretching out too far on the maturity curve because of the distinct possibility of inflation should investigate trust preferred securities and inflation-adjusted preferred securities.

Three out of the larger number I have written about may be appropriate for you at this … [visit site to read more]

Video: Crude Rises On Obama Offshore Oil Drilling Comments

Posted: 31 Mar 2010 10:39 AM PDT

President Barack Obama’s announcement to plan offshore oil drilling areas in the US paved the way for crude prices to post a slight jump this session. … [visit site to read more]

Video: Market Movers: RAD, PMI, CBRL, KCAP, UL, FDP, CEPH

Posted: 31 Mar 2010 10:35 AM PDT

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

New Nordstrom Rack In Florida

Posted: 31 Mar 2010 10:33 AM PDT

Nordstrom Inc. (NYSE:JWN), a leading fashion specialty retailer, recently announced plans to open a new 35,375 square feet Nordstrom Rack store at the Promenade Shops center, an open-air shopping mall in Aventura, Florida. Promenade Shops center spans across 300,000 square feet of space and is located in the heart of the city, at close proximity to the Aventura Mall, the largest super-regional mall in South Florida.
 
The new store is expected to open in spring 2011 and would offer … [visit site to read more]

Morning Stock Market Movers: China ETF, JDS Uniphase, UBS, Coca Cola

Posted: 31 Mar 2010 10:32 AM PDT

iShares FTSE/Xinhua China 25 Index Fund (FXI) - Shares of the FXI, an exchange-traded fund that tracks the price and yield performance of the FTSE/Xinhua China 25 Index, which is an Index designed to replicate the performance of 25 of the largest and most liquid Chinese companies, improved slightly by the middle of the trading session to stand 0.05% higher on the day at $42.28. A large bullish stake was claimed by one near-term optimistic investor expecting shares to continue to … [visit site to read more]

Forex Trading: GBPUSD Channeled As Well

Posted: 31 Mar 2010 10:16 AM PDT

The GBPUSD is also in a channel with the 1.5212 level above providing the upside resistance.  On the downside, the 61.8% of the March high to low range comes in at 1.5157.  The 100 bar MA on the 5 minute chart is also at the level (and moving … [visit site to read more]

NVS Wins Approval For Vaccine

Posted: 31 Mar 2010 10:13 AM PDT

Recently, Novartis (NYSE:NVS) received approval both in the European Union (EU) and the US for Menveo, a quadrivalent conjugate vaccine for the prevention of meningococcal disease. The US Food and Drug Administration (FDA) approval is for the age group of 11−55 years.
 
In Europe, the vaccine has been approved for the immunization of adolescents (above 11 years of age) and adults. The approval does not surprise us since the Committee for Medicinal Products for Human Use (CHMP) had voted in … [visit site to read more]

Video: Risk Appetite Continues To Rise

Posted: 31 Mar 2010 09:56 AM PDT

Risk appetite remains strong within the Forex markets following positive economic data. … [visit site to read more]

Medtronic Settles Lawsuit

Posted: 31 Mar 2010 09:52 AM PDT

Medtronic, Inc. (NYSE:MDT) recently settled its lawsuit with AGA Medical Corporation, a division of AGA Medical Holdings, Inc. (AGAM), regarding infringement of its Jervis patent family. The lawsuit was initiated in 2007 by Medtronic.
Per the settlement, AGA Medical will pay Medtronic $35 million over the next four years. In turn, Medtronic will grant a non-exclusive license to AGA Medical to use the Jervis patent family. Based in Plymouth, Minn., AGA Medical manufactures devices to treat heart … [visit site to read more]

Forex Trading: USDCHF Sells Off Sharply And Tests 200 Day MA

Posted: 31 Mar 2010 09:44 AM PDT

The USDCHF continued its trek down and stuck the 200 day MA. The level comes in at the 1.0481 level. The low for the day has reached 1.0488.  The profit taking buyers could not resist buying against the support level. Topside resistance now comes in at the 1.0557 level this was an interim low today and is also near the 38.2% retracement of the days trend move down … [visit site to read more]

Zimmer Upped To Neutral

Posted: 31 Mar 2010 09:34 AM PDT

We recently upped Zimmer Holdings, Inc. (NYSE:ZMH) to 'Neutral' with a target price of $61 based on a P/E of roughly 14.3x our fiscal 2010 EPS estimate of $4.27. Our decision on upgrading the stock was based on the company's strong fourth quarter fiscal 2009 results.
 
Zimmer reported earnings per share of $1.12 in the fourth quarter, surpassing the Zacks Consensus Estimate of $1.08 and the year-ago earnings of $1. Total revenue in the fourth quarter increased 7.5% year over year in … [visit site to read more]

Acxiom Opens Center In China

Posted: 31 Mar 2010 09:18 AM PDT

Acxiom Corp. (NASDAQ:ACXM) recently opened its China Global Service Center (GSC) in Nantong. Acxiom integrates data, services and technology to create and deliver customer and information management solutions for companies.
The center will provide extensive services including software development, systems management, data analysis and statistical analysis to clients in China and around the world. The China facility is Acxiom's second GSC, after Poland.
Since the international service outsourcing … [visit site to read more]

U.S. Cotton Production Poised For A Rebound This Year

Posted: 31 Mar 2010 09:17 AM PDT

Fundamentals
The improvement in Cotton prices the past year should finally lead U.S. Producers to plant more Cotton this upcoming season. Average analysts' estimates are for U.S. Cotton plantings to total 10.40 million acres, or nearly 14% above last year's meager 9.15 million acres dedicated to Cotton. If true, this would be the first rise in Cotton acreage in 3 years, as new-crop Cotton futures are finally competitive with that of Soybeans and Corn. The global economic recession has hurt … [visit site to read more]

Earnings Estimate Scorecard: TQNT

Posted: 31 Mar 2010 09:02 AM PDT

Estimates for TriQuint (NASDAQ:TQNT) have been on the rise following the upgrade in outlook for the first quarter of 2010 by the company.
 
TriQuint now expects revenue of $175 million in the quarter, up 47% year over year and up from the previous guidance of $170 million – $175 million.
 
Earnings per share is now projected at 11 cents, compared to the earlier forecast of 8 – 10 cents.
 
Guidance was not updated for 2010. On the fourth quarter conference call, management stated … [visit site to read more]

ADP Report Disappointing

Posted: 31 Mar 2010 08:55 AM PDT

Automatic Data Processing (NYSE:ADP) reported that in March the economy lost 23,000 private sector jobs. ADP is generally in a good position to know since it is by far the largest payroll processing firm in the country.

This report is the most important precursor to the big jobs report from the Bureau of Labor Statistics, due out on Friday. The consensus expectation was that the ADP report would show a net gain of 40,000 jobs, and that expectation had been rising in recent days.

While this is … [visit site to read more]

NVO’s Victoza More Effective

Posted: 31 Mar 2010 08:45 AM PDT

Recently, results from Novo Nordisk's (NYSE:NVO) LEAD 6 extension study was published in Diabetes Care. The study aimed at evaluating the efficacy and safety of switching from Amylin Pharmaceuticals (NASDAQ:AMLN) and Eli Lilly's (NYSE:LLY) Byetta (exenatide) to Novo Nordisk's Victoza. 

The LEAD 6 study was conducted over 26 weeks on 389 patients, which compared the effectiveness and safety of once a day Victoza (1.8 milligrams plus oral anti diabetes drug (OAD)) to twice daily Byetta (10 … [visit site to read more]

Mutual Funds: Top 5 International Bond Funds

Posted: 31 Mar 2010 08:44 AM PDT

Investors have gradually begun to recognize the opportunity that the international bond market has come to represent. Today international markets represent more than half of the world's fixed income investment opportunities. Further, the presence of foreign fixed income securities in a portfolio helps protect capital invested against currency fluctuations. With their widely diversified holdings, mutual funds offer a secure route to investing in the international bond market.
Below we will … [visit site to read more]

Illinois Tool Reduces EPS Guidance

Posted: 31 Mar 2010 08:30 AM PDT

Illinois Tool Works Inc. (NYSE:ITW) receives Medicare prescription drug subsidies for retiree prescription drug coverage. However, based on the Patient Protection and Affordable Health Care program, those subsidies will now be taxable. Thus, Illinois Tool expects a tax adjustment of approximately $22 million in the first quarter of fiscal 2010. 

The above adjustment would decrease the EPS by 4 cents. Hence, the company has revised its guidance for the first quarter and expects it to lie … [visit site to read more]

The Harry Markopolos Interview: The No. 1 Danger Investors Still Face

Posted: 31 Mar 2010 08:18 AM PDT

Wednesday, March 31, 2010: Issue #1228
No one would accuse Harry Markopolos of beating around the bush when it comes to talking about the government protecting the public against fraud and bad investment advice.
He's the private investigator who uncovered Bernie Madoff's massive $65 billion Ponzi scheme, which destroyed the financial lives of thousands of individuals and foundations around the world.
He repeatedly tried to warn the Securities & Exchange Commission – without success … [visit site to read more]

The True Causes Underlying The Moscow Metro Bombings: Oil Politics

Posted: 31 Mar 2010 08:18 AM PDT

The tragic news of the 29 March twin suicide bombings of two Moscow Metro stations during the morning rush hour has produced outrage worldwide, with the Kremlin quickly adding that the attacks were carried out by the Caucasus Mujaheddin, a northern Caucasus-based militant Islamist guerrilla group that claimed responsibility for the bombing of a Moscow to St. Petersburg express train last November.

The grim death toll can be seen as yet another statistic in the Kremlin’s ongoing war … [visit site to read more]

Australian Dollar: The Downside Prevails

Posted: 31 Mar 2010 08:17 AM PDT

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: The Downside Prevails

Posted: 31 Mar 2010 08:17 AM PDT

Update on supports and resistances. … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: HON, RAD, DG

Posted: 31 Mar 2010 08:17 AM PDT

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

Scripps Networks’ Global Initiative

Posted: 31 Mar 2010 08:15 AM PDT

Scripps Networks Interactive Inc. (NYSE:SNI) has undertaken several initiatives to explore international opportunities. The company's flagship lifestyle TV channel "Fine Living Network” (FLN) will be available in South Africa from May 1, 2010. This is part of management strategy to expand FLN in the EMEA (Europe, Middle East, and Africa) regions. From April 1st, this TV channel will be available in 60 countries in this region.
 
Scripps Network has decided to re-brand its Fine Living … [visit site to read more]

Video: Honeywell Announced Sweet Earnings Outlook

Posted: 31 Mar 2010 08:12 AM PDT

Honeywell International (HON) said it raised its earnings outlook for the first quarter because of strong orders. … [visit site to read more]

Direxion Brings 3x Leveraged ETFs To Europe

Posted: 31 Mar 2010 07:44 AM PDT

Direxion, the pioneer of 3x and -3x daily leveraged ETFs in the U.S., is going international. Beginning on March 31, six Direxion Shares Daily ETFs will be listed on the Amsterdam market of NYSE Euronext, significantly expanding the base of investors with access to these products. The Direxion ETFs available on this market include daily 3x and -3x ETFs targeting the MSCI Emerging Markets Index, Russell 1000 Index, and Russell 1000 Financial Services Index:

Daily Emerging Markets Bull 3x Shares … [visit site to read more]

Forex Trading: EURUSD Approaches Channel Trendline Resistance

Posted: 31 Mar 2010 07:43 AM PDT

The EURUSD is moving toward the top of the the channel resistance as the London fix approaches.  Look for profit taking sellers against the level.  The bottom trendline currently comes in at the 1.3511 … [visit site to read more]

Forex Trading: EURGBP In Control Again Today

Posted: 31 Mar 2010 07:27 AM PDT

The EURGBP is back in control again today with the pair moving sharply higher on the back of the stronger data out of the EUROZONE today and an absence of data perhaps out of the UK.
The pair started the day making new move lows, continuing the selling seen yesterday. However,  buyers emerged against the 200 day MA and 50% retracement of the 2010 trading range at the 0.8864 and 0.8874 levels respectively.  The low came in between at 0.8870.  In today's move back higher, the … [visit site to read more]

Video: Asian Markets In The Red

Posted: 31 Mar 2010 07:20 AM PDT

Asian markets closed out in the red this session following a decline in domestic shares. … [visit site to read more]
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