Daily Markets - Financial News And Opinions

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• GBP/USD Rebounds Off Key Support Level
• Forex Trading: Eurozone Reaches A Draft Agreement On Greece
• Time Warner Cable Launches Wi-Fi
• U.S. Stock Market Returns - What’s In Store?
• Stock Market News Briefs: Best Buy Co., Inc., Coach, Inc., Credit Suisse Group, J P Morgan Chase & Co, Nokia Corporation, UBS AG, Apple Inc., Cheesecake Factory Incorporated (The), Oracle Corporation, Research In Motion Limited
• Entergy Hits Roadblock
• BofA Acquires Provo Craft Stake
• Mutual Funds: Top 5 Blackrock Funds
• Stock Pick For 26 March - ProLogis
• Forex Trading: USDCHF Moves Below Floor And Tests 100 Hour MA
• PXP Announces $300M Offering
• Mutual Funds: Top 5 Global Funds
• Forex Trading: EURUSD Squeezes Back Higher On Portugal Reaffirmation
• Morning News Notes: 3/26/2010
• Forex Trading: AUDUSD Tests 50% Retracement Support At 0.9025
• Qualcomm Raises Outlook
• A.M. Best Affirms Hartford Ratings
• Swiss Franc: The Upside Prevails
• Japanese Yen: The Upside Prevails
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• Oracle Reports In-Line
• Forex Trading: USDJPY Moves Back Toward Closing Level
• Forex Trading: AUDUSD Watching 100 Day MA Today
• Forex Trading: EURUSD Extends Higher In NY But Approaches Resistance
• Position Sizing The Key To Maximizing Returns And Minimizing Risk
• Bull Of The Day: Transcept Pharmaceuticals (TSPT)
• Stock Buy: A. Schulman Inc.
• Bear Of The Day: Sunoco, Inc. (SUN)
• Stock Buy: Kirkland’s, Inc.
• Stock Buy: Lennar Corp.
• Stock Buy: Roper Industries
• Higher Yields, Lower Equities?

GBP/USD Rebounds Off Key Support Level Posted: 26 Mar 2010 07:51 AM PDT Price action on GBP/USD as of Friday (3/26/2010) morning New York session has rebounded after having closely approached strong support just below 1.4800. This occurs within a strong downtrend and after price broke cleanly below the key 1.5000 price region and a short-term uptrend support line extending from the early March long-term low. Any strong subsequent breakdown below the current support (in the 1.4780-1.4800 price zone) could target further key support around 1.4500. The key … [visit site to read more]

Forex Trading: Eurozone Reaches A Draft Agreement On Greece Posted: 26 Mar 2010 07:49 AM PDT Events in the EU continue to dictate FX price action and the markets focus. Yesterday’s news that the Eurozone has reached a temporary agreement on Greece which includes considerable IMF involvement was only slightly EUR positive. The failure of the EUR to fully breakout on the back of the news, indicates that currency traders are not fully convinced that these announcements are the resolution. According to the FT, President Sarkozy and Chancellor Merkel have a draft agreement that Greece would … [visit site to read more]

Time Warner Cable Launches Wi-Fi Posted: 26 Mar 2010 07:47 AM PDT Time Warner Cable Inc. (NYSE:TWC) has started offering Wi-Fi services to its Road Runner cable modem subscribers, which will give them unlimited access to a fast and free wireless Internet connection at several locations in the New York City region. In last December, Time Warner Cable launched its super-fast 4G WiMAX services in the same location under the brand name of "Road Runner Mobile” that serves nearly one million customer as of now.   Time Warner Cable entered into a partnership … [visit site to read more]

U.S. Stock Market Returns - What’s In Store? Posted: 26 Mar 2010 07:45 AM PDT Surging stock markets since the lows of March 2009 have caught most investors by surprise, especially as new pieces of the economics puzzle are not always rosy and do not quite seem to support an overly bullish case. In short, investors are increasingly struggling to make sense of the most likely direction of stock prices. Are we perhaps nearing the end of a cyclical bull phase in a structural bull market? Or will strong earnings growth ensure the longevity of the bull? Or is a … [visit site to read more]

Stock Market News Briefs: Best Buy Co., Inc., Coach, Inc., Credit Suisse Group, J P Morgan Chase & Co, Nokia Corporation, UBS AG, Apple Inc., Cheesecake Factory Incorporated (The), Oracle Corporation, Research In Motion Limited Posted: 26 Mar 2010 07:30 AM PDT  Oracle (NASDAQ:ORCL) reported after the close of yesterday’s markets that its fiscal second quarter earnings beat Zacks estimates by two cents, coming in at 38 cents on revenues of $6.4 billion, which topped estimates of $6.3 billion  UBS (NYSE:UBS) said it cut 200 positions in its US brokerage division  Credit Suisse (NYSE:CS) reiterated an “outperform” rating on Apple (NASDAQ:AAPL), lifting the price target from $275 to $300, looking forward to a “monster quarter”  JP Morgan … [visit site to read more]

Entergy Hits Roadblock Posted: 26 Mar 2010 07:30 AM PDT Entergy Corporation's (NYSE:ETR) proposed spin-off of its non-utility Nuclear power business hit a regulatory road-block. The New York Public Service Commission (NYPSC) played spoilsport and rejected the spin-off request. NYPSC is apprehensive of the financial health of the resultant company (Enexus Energy Corporation).   Entergy has been contemplating the spin-off since fiscal 2007 to separate its regulated utilities and open-market generation units. The new company – Enexus Energy … [visit site to read more]

BofA Acquires Provo Craft Stake Posted: 26 Mar 2010 07:15 AM PDT Earlier this week, BAML Capital Partners, the private-equity arm of Bank of America Corp. (NYSE:BAC), acquired a majority stake in Utah-based manufacturer and retailer of hobby and craft products Provo Craft & Novelty Inc.   However, Provo Craft management and Lehi, Utah-based private-equity firm Sorenson Capital will continue to hold significant equity stakes in the company.   The recent investment by the BofA unit will significantly help Provo Craft to grow its business with … [visit site to read more]

Mutual Funds: Top 5 Blackrock Funds Posted: 26 Mar 2010 07:12 AM PDT One of the world's premier asset management firms, BlackRock offers a range of risk management, strategic advisory and enterprise investment system services to clients worldwide. With over $3.35 trillion worth of assets under management, the company caters to institutional, intermediary and individual investors through a wide range of products and services. These offerings would range from individual and institutional separate accounts, mutual funds and other pooled investment options. … [visit site to read more]

Stock Pick For 26 March - ProLogis Posted: 26 Mar 2010 07:11 AM PDT Prologis (NYSE:PLD) With improving property values and growing institutional demand for quality properties, ProLogis expects to generate $1.3 billion to $1.5 billion of proceeds in 2010 from sales of existing assets and contributions to funds primarily in the U.S. This is defintely good for the stock and the price seems to reflect the good news together with the recovery of the US economy. Technically, PLD is testing $14.79 which is a resistance that has not been broken since Jan 2009. From … [visit site to read more]

Forex Trading: USDCHF Moves Below Floor And Tests 100 Hour MA Posted: 26 Mar 2010 07:08 AM PDT The floor at 1.0670 area was broken and the pair has moved down to test the next target at the 100 hour MA. The level comes in at 1.0653. A break below will look to 1.0628. The topside resistance now comes in against 1.0671 to 1.0677 … [visit site to read more]

PXP Announces $300M Offering Posted: 26 Mar 2010 07:00 AM PDT Independent oil and gas company Plains Exploration & Production Company (NYSE:PXP) commenced an offer of senior notes due in 2020 in an underwritten public offering. The offering is priced at an interest rate of 7 5/8% and the total value of the offering aggregates $300 million. The notes are being sold to the public at par. The company intends to use the net proceeds of the offering to repay debt under its senior revolving credit facility and general corporate purposes. The company will pay … [visit site to read more]

Mutual Funds: Top 5 Global Funds Posted: 26 Mar 2010 06:59 AM PDT With a number of lucrative options existing outside international borders, investors can no longer afford to invest only in domestic stocks. Though the global significance of the U.S. equity markets remain undiminished, they no longer dominate international markets as they did in the past. Over the years, research has shown that a portfolio with a combination of domestic and foreign securities produces better returns over the long term. Global mutual funds allow investors to harness the … [visit site to read more]

Forex Trading: EURUSD Squeezes Back Higher On Portugal Reaffirmation Posted: 26 Mar 2010 06:57 AM PDT The price has moved back above the 100 bar MA on the 5 minute chart at the 1.3366 level.   Meanwhile Michigan came in at 73.6 vs 73.0 … [visit site to read more]

Morning News Notes: 3/26/2010 Posted: 26 Mar 2010 06:52 AM PDT The “Morning News Notes” as prepared by TL…GDP, Greece bailout, mortgage assistance, Bernanke and asset sales, ORCL earnings, health care, GM, California debt sales, and comments on US Treasury bonds. Just click on the link or the coffee mug below. “Morning News Notes”: March 26, … [visit site to read more]

Forex Trading: AUDUSD Tests 50% Retracement Support At 0.9025 Posted: 26 Mar 2010 06:49 AM PDT   The AUDUSD fell below the 100 day MA at the 0.9067 level. The price has moved down and tests the 50% retracement of the last move down at the 0.9025. This is a target on the bearish highway.  A move below should next look towart the -8972 level which is the 61.8% of the move up from the February 25th … [visit site to read more]

Qualcomm Raises Outlook Posted: 26 Mar 2010 06:45 AM PDT Qualcomm Inc. (NASDAQ:QCOM), the largest developer of CDMA-based mobile phone chipset, raised its financial guidance for the second quarter of fiscal 2010, ending March 28. Management announced strong demand for both its licensing business and chipset sales together with a favorable product-mix as the primary reasons for this solid performance. Qualcomm now expects that its second quarter revenue will be within the range of $2.55 billion - $2.65 billion compared to the previous guidance of $2.40 … [visit site to read more]

A.M. Best Affirms Hartford Ratings Posted: 26 Mar 2010 06:30 AM PDT Following Hartford Financial Services Group Inc.'s (NYSE:HIG) recent decision to repay the entire $3.4 billion of bailout money it received from the government under the Troubled Asset Relief Program (TARP), rating agency A.M. Best Co. has affirmed the issuer credit rating (ICR) of "bbb+” for the company. However, the outlook for the rating remains negative.   Also, the rating agency has affirmed the financial strength ratings (FSRs) of A (Excellent) and ICRs of "a+” for Hartford's … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 26 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Upside Prevails Posted: 26 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 26 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 26 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Oracle Reports In-Line Posted: 26 Mar 2010 06:07 AM PDT Oracle Corporation's (NASDAQ:ORCL) third-quarter of fiscal 2010 earnings (excluding one-time items but including stock-based compensation expenses) of 36 cents per share were up 5.9% from the year-ago period of 34 cents, but in line with the Zacks Consensus Estimate of 36 cents. Earnings also came in line with the company's guidance of 36 – 38 cents per share. Net income rose 8.1% to $1.83 billion from the last year. The boost in earnings was due to higher revenues from new software license … [visit site to read more]

Forex Trading: USDJPY Moves Back Toward Closing Level Posted: 26 Mar 2010 05:44 AM PDT The USDJPY closed at 92.72 yesterday and moved up to 92.81 just prior to the GDP report. The weaker data pushed the price back down below the closing level and we will looking to see sellers against the level.  A move back above may be disappointing for those looking for a correction in the pair.   ON the downside, the market is consolidating the gains from the weeks move higher. As such the 100 and 200 bar MA are converged at the 92.55 level and the price has moved above and … [visit site to read more]

Forex Trading: AUDUSD Watching 100 Day MA Today Posted: 26 Mar 2010 05:31 AM PDT The AUDUSD is testing the 100 day MA at the 0.9068 level.  A close below this level will be bearish for the pair and should see further downside selling for the pair going … [visit site to read more]

Forex Trading: EURUSD Extends Higher In NY But Approaches Resistance Posted: 26 Mar 2010 05:14 AM PDT The EURUSD has corrected higher in early NY trade, but upside resistance at the 1.3418 is approaching.  The level corresponds with the 100 hour moving average and the 50% retracement of the move down from the weeks high price to the low (1.3567 to 1.3267).   The high reached on the last leg came in at the 1.3407.  On the downside, we will be looking for support against the 1.3372 which is the backside support from the top channel … [visit site to read more]

Position Sizing The Key To Maximizing Returns And Minimizing Risk Posted: 26 Mar 2010 05:01 AM PDT In a time when market volatility and equity preservation is of utmost importance, determining the correct number of shares to buy, or “position sizing”, is key to maximizing returns and minimizing risk. The common investor generally doesn’t spend much time thinking about how many shares to buy or how significant of a position to take.  Instead, most investors use a common methodology of trading the same number of shares each time, which usually translates to a specific dollar amount. … [visit site to read more]

Bull Of The Day: Transcept Pharmaceuticals (TSPT) Posted: 25 Mar 2010 10:00 PM PDT We are maintaining our positive bias on Transcept Pharmaceuticals (TSPT). We believe the stock is significantly undervalued at this level, and that the market is overly pessimistic on the ability of management to address the issues raised in the FDA’s complete response letter from last October. From what we have seen, management has an excellent plan to answer the questions brought up by the agency and we think everything could be ready to re-file by October 2010. That puts an action date in … [visit site to read more]

Stock Buy: A. Schulman Inc. Posted: 25 Mar 2010 10:00 PM PDT A. Schulman Inc. (NASDAQ:SHLM) has been acquiring new businesses in the last 4 months as the global recession eases. SHLM has surprised on the Zacks Consensus Estimate 3 out of the last 4 quarters by an average of 91.9%. Company Description A. Schulman manufactures high-performance plastic compounds and resins including engineered plastic compounds, color concentrates and additives that improve the appearance and performance of plastics. Its products are components in construction and home … [visit site to read more]

Bear Of The Day: Sunoco, Inc. (SUN) Posted: 25 Mar 2010 10:00 PM PDT We are downgrading Sunoco, Inc. (NYSE:SUN) shares to Underperform from Neutral, reflecting the bearish refining margin outlook. Weak demand for refined products in the global downturn and increased capacity has squeezed margins throughout the industry. Rising crude oil prices have added to Sunoco’s miseries by increasing the cost of production. With utilization rates remaining at historically low levels, we see a fairly unfavorable macro backdrop for independent refiners over the coming 6-12 … [visit site to read more]

Stock Buy: Kirkland’s, Inc. Posted: 25 Mar 2010 10:00 PM PDT Kirkland’s, Inc. (NASDAQ:KIRK) just hit a new 52-week high on the company’s better than expected Q4 results from mid March that included 10% sales growth and a 14% earnings surprise. Company Description Kirklands, Inc. operates as a specialty retailer of home decor in the United States. The company was founded in 1966, operates 279 stores in 34 states and has a market cap of $429 million. Shares of Kirkland’s have been on amazing run for the last year, bottoming out in March of 2009 at the tail end … [visit site to read more]

Stock Buy: Lennar Corp. Posted: 25 Mar 2010 10:00 PM PDT Lennar Corp. (NYSE:LEN) reported optimistic results in the face of an uncertain housing market. Shares and estimates are surging. Company Description Lennar is a home builder in the U.S., making single-family homes and residential buildings. The company buys, develops and sells the properties, in addition to providing financial services to buyers. Well Ahead of Estimates On Mar 24 Lennar reported first-quarter results that included a net loss of 4 cents, which came in 28 cents better than … [visit site to read more]

Stock Buy: Roper Industries Posted: 25 Mar 2010 10:00 PM PDT Roper Industries (NYSE:ROP) beat fourth-quarter EPS estimates by 15.7%, management guided higher for 2010. This Zacks Rank #2 stock has a dividend yield of 0.7% and an expected long-term EPS growth rate of 12.8%. Company Description Roper Industries is a diversified growth company with annual revenues of more than $2 billion. The company provides engineered products and solutions for global niche markets, including water, energy, radio frequency, and research/medical applications. Fourth-Quarter … [visit site to read more]

Higher Yields, Lower Equities? Posted: 25 Mar 2010 04:07 PM PDT For the longest while, my mind set has been to expect higher yields accompanied by higher equity prices. After all, wouldn’t higher yields be a sign that the economy is expanding and on the track to recovery? Or to put the relationship between bonds and equity prices in another light: if the equity markets would ever sell off, wouldn’t bonds catch a bid as there is a flight to safety? But the technicals have me rethinking these relationships. Is it possible that we could have higher yields and … [visit site to read more]

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