Daily Markets - Financial News And Opinions |
- WellPoint Guides
- Initial Jobless Claims Down Again
- Upgrading EMC To Neutral
- Staples’ Buyout Offer
- Forex Trading: EUR/USD Forms Rising Wedge Bearish Pattern Within Downtrend
- MDR Unit Wins Vietnam Subsea Deal
- Morning Stock Market Movers: Royal Caribbean Cruises, Smithfield Foods, AMR Corp
- Handicapping The Active ETF Race
- Electronic Arts Rec Improves
- Forex Trading: USDJPY Up Testing The Key Resistance
- Conoco To Lessen Lukoil Interest?
- Forex Trading: EURUSD Falls Sharply Through Support Levels
- Video: Nikkei Slips On Property Stocks
- MTV Signs Deal With Rentrak
- Another Curious Inconsistency
- Statoil Wades Further Into GoM
- The Technical Take: Silver ETF
- Video: NYSE Opening Bell Market Monitor: FDX, NKE, PFE
- Morning News Notes: 3/18/2010
| Posted: 18 Mar 2010 09:47 AM PDT Recently, WellPoint Inc. (NYSE:WLP) provided its financial outlook for fiscal 2010. The health insurer expects operating revenue of approximately $59.0 billion in fiscal 2010 as against $60.8 billion reported in 2009, down approximately 3%. The decline is primarily attributable to lower insured membership, among other factors.
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| Initial Jobless Claims Down Again Posted: 18 Mar 2010 09:44 AM PDT Initial Claims for Unemployment Insurance fell by 5,000 over the last week to 457,000, and are far below the year-ago level of 644,000.
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| Posted: 18 Mar 2010 09:35 AM PDT EMC Corp. (NYSE:EMC) has the potential to benefit from restructuring activities, with financial metrics growing stronger and helping the company to reach its long-term targeted return levels. Therefore, we upgrade the stock to Neutral from our previous Underperform recommendation indicating that we expect it to trade at a premium to the peer group. We remain positive on EMC's long-term growth and believe the shares are currently undervalued. We raise our six-month price target to $20.00, … [visit site to read more]
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| Posted: 18 Mar 2010 09:20 AM PDT Staples, Inc. (NASDAQ:SPLS), the world's leading retailer of office products and services, recently offered to buy out the remaining stake in Corporate Express Australia Limited. Staples already holds a majority stake of 58.6% in Corporate Express Australia by virtue of its acquisition of Corporate Express (headquartered in Broomfield, Colorado), the parent of Corporate Express Australia, in July 2008.
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| Forex Trading: EUR/USD Forms Rising Wedge Bearish Pattern Within Downtrend Posted: 18 Mar 2010 09:07 AM PDT Price action on EUR/USD, a daily chart of which is shown, has formed a rising wedge pattern within the context of an overall downtrend extending from the early December high. This rising wedge occurs after price was once again rejected by 1.3800 resistance, and is a potentially bearish formation that is contingent upon a significant break to the downside. In the event of this strong bearish breakdown, which would lend strength to the robust prevailing downtrend, a key support target to the … [visit site to read more]
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| MDR Unit Wins Vietnam Subsea Deal Posted: 18 Mar 2010 09:05 AM PDT J. Ray McDermott S.A. – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. (NYSE:MDR) – announced the receipt of a subsea infrastructure contract from Vietnam-based PetroVietnam Technical Services Corp. The financial terms of the transaction were not disclosed.
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| Morning Stock Market Movers: Royal Caribbean Cruises, Smithfield Foods, AMR Corp Posted: 18 Mar 2010 09:04 AM PDT Royal Caribbean Cruises Ltd. (NYSE:RCL) - In line with cautiously optimistic words from five CEOs of major cruise lines at the annual Cruise Shipping Miami convention on Tuesday, one options investor hoping for smooth sailing at Royal Caribbean, but anticipating the occasional squall along the way, purchased 20,000 married put options on the stock this morning. Royal Caribbean’s shares are trading 0.40% lower at $31.50 as of 10:30 am (ET). Cruise industry leaders at the convention suggested … [visit site to read more]
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| Handicapping The Active ETF Race Posted: 18 Mar 2010 09:01 AM PDT To say opinions on the future of active ETFs are mixed would be a major understatement. Nearly two years after PowerShares launched its first line of active ETFs and a year after the much-publicized launch of the Grail American Beacon Large Cap Value ETF (GVT), active ETFs remain stuck in first gear. Investors have expressed excitement over the development of an investment option combining active management with the benefits of the exchange-traded structure, but have so far been hesitant to … [visit site to read more]
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| Posted: 18 Mar 2010 08:50 AM PDT We are upgrading Electronic Arts Inc. (NASDAQ:ERTS) to Neutral from our previous Underperform rating, as we believe the stock has bottomed out. We do not expect further fall in share price and believe that the new Sony Corp's (NYSE:SNE) 'Playstation Move', if released in 2010 may drive sales at EA. Going forward, we expect the company to perform in line with the market. Furthermore, we think that the valuation is fair, given the fact that the company's earnings are expected to grow at … [visit site to read more]
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| Forex Trading: USDJPY Up Testing The Key Resistance Posted: 18 Mar 2010 08:36 AM PDT As per the prior post the USDJPY has moved through 100 hour moving average resistance and is now up testing the 90.72 level. This level has contained the topside this week. The high last week came in at 91.07 and the high target remains at the 200 day MA at the 91.72 today. A break of 90.72 is the first … [visit site to read more]
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| Conoco To Lessen Lukoil Interest? Posted: 18 Mar 2010 08:35 AM PDT ConocoPhillips (NYSE:COP) may reduce its Lukoil stake by 50% within three years. Conoco has a 20% interest in Lukoil, a privately owned Russian oil and gas company, and intends to sell 10% of it, according to a reuters.com report. The report also said that Conoco may announce this plan in its annual analyst meeting, which is scheduled to be held on March 24. Following 2004, the first time when Conoco bought into Lukoil, the stake percentage has been gradually increased to … [visit site to read more]
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| Forex Trading: EURUSD Falls Sharply Through Support Levels Posted: 18 Mar 2010 08:31 AM PDT The EURUSD found sellers at 1.3691 (reaching a high of 1.3694) and that was enough to get the price moving back to the downside. The price fell through the 200 bar MA, it fell through the trendline, it fell through 1.3654 and it was off to the races. The Greece situation continues to weigh as until there is support from EU to a member, the market is going to feel uneasy. The price has moved to test the bottom trendline of the move down over the last few days. … [visit site to read more]
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| Video: Nikkei Slips On Property Stocks Posted: 18 Mar 2010 08:16 AM PDT Japan’s Nikkei 225 index posted a triple-digit loss this session following poor results in property developers. … [visit site to read more]
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| Posted: 18 Mar 2010 08:16 AM PDT MTV Networks, a division of Viacom Inc. (NASDAQ:RENT) to subscribe to the latter's TV Essential services. Rentrak is a multi-screen media measurement and research company. TV Essential services are used by media companies for audience targeting, advertising, and programming through set-top boxes. MTV Network becomes the first major cable group that subscribed to Rentrak's TV Essential services. MTV Network will use the massive set-top viewing database available through TV Essentials to … [visit site to read more]
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| Posted: 18 Mar 2010 08:13 AM PDT I admit I don’t spend as much time drilling down into the details of company announcements and earnings releases as I ought to. It’s hard enough keeping up with and sifting through government statistics and other big-picture data series. Luckily, there are many websites in my blogroll (and in my feed reader) that have a knack for finding real gems in the torrent of information that floods the newswires each and every day. Today’s example includes a post from Karl Denninger’s The Market … [visit site to read more]
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| Statoil Wades Further Into GoM Posted: 18 Mar 2010 08:01 AM PDT Norwegian oil major Statoil ASA (NYSE:STO) yesterday said that the company was the highest bidder on 21 tracts released in Minerals Management Service’s (MMS) US Gulf of Mexico (GoM) central area lease sale. Statoil’s winning bid is, however, subject to review and final approval by MMS. Statoil aims to acquire new acreages in areas where the company already has promising exploration leads. The lease sales are important events for the company to consolidate its assets … [visit site to read more]
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| The Technical Take: Silver ETF Posted: 18 Mar 2010 07:57 AM PDT It’s the best 2 out of 3. It’s me against the the i-Shares Silver Trust (symbol: SLV). In our first crack at this, I felt that SLV was vulnerable. In the article, “As A Corollary To A Higher Dollar….GLD, GDX, SLV”, I stated: “it is my expectation that precious metals will be under pressure.” In this market, where almost all assets move in one direction, SLV got slammed over the next 2 weeks. Good call! Then a month later, I wrote: “Did You Sell GLD, GDX, SLV?” Not only was I all poofed up … [visit site to read more]
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| Video: NYSE Opening Bell Market Monitor: FDX, NKE, PFE Posted: 18 Mar 2010 07:40 AM PDT The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Posted: 18 Mar 2010 07:22 AM PDT The “Morning News Notes” as prepared by TL… Greece, NKE earnings, healthcare and Marc Faber on Treasuries. Just click on the link or the coffee mug below. “Morning News Notes”: March 18, … [visit site to read more]
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