Daily Markets - Financial News And Opinions

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• Intuitive Surgical Upgraded
• Western Union Refinances Debt
• Australian Dollar: Turning Down
• Canadian Dollar: Under Pressure
• Stock Market News Briefs: Advanced Micro Devices, Inc., Burger King Holdings, Inc., Citigroup Inc., ConocoPhillips, Deutsche Bank AG, Energizer Holdings, Inc., FedEx Corporation, General Motors Corporation, Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, LSI Logic Corporation, Nike, Inc., Pfizer, Inc., Winnebago Industries, Inc., Broadcom Corporation, Teva Pharmaceutical Industries Limited
• PSB Acquires Asset In Maryland
• Mutual Funds: Top 5 Balanced Funds
• SEA: The Closest Thing We Have To A Greece ETF
• Comerica Repays TARP Fund
• Forex Trading: EURUSD Moves Back Above 100 Bar MA In Range Type Trading
• ATP Oil & Gas Posts Wider Loss
• Nike Beats Zacks Estimates
• Swiss Franc: The Upside Prevails
• Japanese Yen: Rebound
• British Pound: The Upside Prevails
• Euro: Rebound
• Chinese Stocks - Finely Balanced
• U.K. Deficit In A Spin
• Forex Trading: USDJPY 100 Day MA At 90.07 Today
• Forex Trading: USDCAD Watching Trendline Support At 1.0083
• Forex Trading: EURUSD Falls On The Greece Worries. Keeps Below Moving Average Resistance.
• Forex Trading: The Euro Will Continue To Be Sold On Rallies
• Gold & Silver Investing: Caution Should Be Exercised Given The Strong Optimism That Surrounds Them
• Room To Fall
• The Price Of Gold Is Not At A Support Level At This Point
• Bull Of The Day: Cummins, Inc. (CMI)
• Bear Of The Day: France Telecom
• Stock Buy: Del Monte Foods Company
• Stock Buy: Lincoln Educational Services Corp.
• Stock Buy: Vishay Intertechnology
• Stock Buy: Brown-Forman
• Montpelier Predicts Initial Losses

Intuitive Surgical Upgraded Posted: 18 Mar 2010 07:46 AM PDT We recently upgraded Intuitive Surgical, Inc. (NASDAQ:ISRG) to 'Outperform' as a result of its strong fourth quarter and fiscal 2009 results. The stock was assigned a target price of $400 based on a P/E of 52.0x our fiscal 2010 EPS estimate of $7.69.  Intuitive reported fourth quarter earnings per share of $1.95, beating the Zacks Consensus Estimate of $1.71 and the year-ago earnings of $1.27. For fiscal 2009, earnings per share came in at $6.23, compared to the Zacks Consensus Estimate … [visit site to read more]

Western Union Refinances Debt Posted: 18 Mar 2010 07:30 AM PDT Money transfer company Western Union Inc. (NYSE:WU) yesterday announced that it has started exchanging its outstanding 5.4% notes aggregating $500 million in principal due 2011 with a new issue of notes. The new notes will carry an interest rate of 135 basis points over and above the 10-year Treasury yield, expiring in April 2020. The exchange offer, which required notes aggregating at least $250 million to be validly tendered, has been met as of Mar 15, 2010, when $279 million of old outstanding … [visit site to read more]

Australian Dollar: Turning Down Posted: 18 Mar 2010 07:17 AM PDT Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Under Pressure Posted: 18 Mar 2010 07:17 AM PDT Update on supports and resistances. … [visit site to read more]

Stock Market News Briefs: Advanced Micro Devices, Inc., Burger King Holdings, Inc., Citigroup Inc., ConocoPhillips, Deutsche Bank AG, Energizer Holdings, Inc., FedEx Corporation, General Motors Corporation, Goldman Sachs Group, Inc. (The), J P Morgan Chase & Co, LSI Logic Corporation, Nike, Inc., Pfizer, Inc., Winnebago Industries, Inc., Broadcom Corporation, Teva Pharmaceutical Industries Limited Posted: 18 Mar 2010 07:15 AM PDT  Citigroup (NYSE:C) downgraded financial shares from “overweight” to “neutral,” warning that early-cycle gains in financial sector shares, up 63% over the past year, may fade heading into the bull market’s second year  After the close yesterday, Nike (NYSE:NKE) reported sharply-higher-than-expected results, helped by higher US and China sales.  The company reported earnings of $1.01 a share, versus Zacks estimates of 89 cents, on revenues of $4.73 billion, a 6.6% increase, and up … [visit site to read more]

PSB Acquires Asset In Maryland Posted: 18 Mar 2010 07:15 AM PDT PS Business Parks Inc. (NYSE:PSB), a real estate investment trust (REIT), recently acquired Shady Grove Executive Center, a 350,000 square feet multi-tenant office business park in Rockville, Maryland for $60.0 million in cash. The property is currently 80% leased and accommodates multiple tenants. With the acquisition, the company's Maryland portfolio increased to approximately 2.2 million square feet of office and flex space.   PS Business Parks owns, acquires, develops, and operates … [visit site to read more]

Mutual Funds: Top 5 Balanced Funds Posted: 18 Mar 2010 07:12 AM PDT Investors seeking to combine the benefits of both stocks and bonds would do well to consider balanced funds which invest in a diversified portfolio of both equity and debt instruments. These funds provide both income and capital appreciation. The better managed funds in this category keep the proportion of assets invested in different asset classes flexible and make changes according to market conditions. This enables balanced funds to make the most of market upswings while protecting capital … [visit site to read more]

SEA: The Closest Thing We Have To A Greece ETF Posted: 18 Mar 2010 07:05 AM PDT Greece's ongoing budget woes have been one of the major stories of 2010, sending shock waves throughout the euro zone (and global equity markets in general). After months of back-and-forth, some "doomsday" predictions, and even death sentences for the euro zone common currency, recent developments suggest that the risk may finally be abating for the small nation. Greece's most recent austerity package, valued at more than $6 billion and went into effect last week, is designed to get the … [visit site to read more]

Comerica Repays TARP Fund Posted: 18 Mar 2010 07:00 AM PDT Regional bank Comerica Inc. (NYSE:CMA) said on Wednesday that it has repaid the entire $2.25 billion of bailout money it received from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis.   In addition to the principal amount of TARP money, Comerica paid a total of $150.9 million in dividends on the preferred stock it issued to the Treasury in Nov 2008.   The repayment of TARP money followed Comerica's completion of an … [visit site to read more]

Forex Trading: EURUSD Moves Back Above 100 Bar MA In Range Type Trading Posted: 18 Mar 2010 06:53 AM PDT The EURUSD has moved back above the 100 bar MA on 5 minute chart at the 1.3674 level in range type trading. The 1.3691 level remains key upside resistance for the pair above.  The high for NY is 1.3686 so far.  A move above these level would confirm further upside momentum is likely with the 200 bar MA on the same chart at 1.3700 the next target.  On the downside a move below the 1.3654 level should solicit more selling.  pressure with a move  to 1.3627 … [visit site to read more]

ATP Oil & Gas Posts Wider Loss Posted: 18 Mar 2010 06:45 AM PDT Energy explorer ATP Oil & Gas Corp. (NASDAQ:ATPG) reported weak fourth quarter results, pulled down by higher lease operating costs, higher general and administrative expenses, as well as delays related to a well re-completion.   Loss per share, excluding one-time items, came in at 20 cents, 8 cents wider than the Zacks Consensus Estimate. In the year-ago period, the Houston-based company earned $2.20 per share on an adjusted basis.   Revenue of $74.3 million was down 8.2% from the … [visit site to read more]

Nike Beats Zacks Estimates Posted: 18 Mar 2010 06:30 AM PDT Nike Inc. (NYSE:NKE) reported strong fiscal 2010 third quarter results with a net income of $496 million or $1.01 per share compared to $244 million or $0.50 in the year-earlier quarter. The earnings also surpassed the Zacks Consensus Estimate of $0.89. Despite a challenging macroeconomic environment, total revenues increased 7% during the quarter to $4.7 billion, compared to $4.4 billion in the year-ago period. Nike has consistently focused on innovative products that provide a competitive edge … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 18 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: Rebound Posted: 18 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 18 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: Rebound Posted: 18 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Chinese Stocks - Finely Balanced Posted: 18 Mar 2010 06:01 AM PDT As reported over the weekend (via US Global Investors), the latest Chinese inflation figures surpassed the one-year deposit rate of 2.25%. Negative real interest rates may provide an additional incentive to drive asset prices higher, increasing the likelihood of the Chinese central bank raising interest rates from a five-year low. Source: US Global Investors - Investor Alert, March 12, 2010. Fears of further monetary tightening in China have recently been weighing on the Chinese … [visit site to read more]

U.K. Deficit In A Spin Posted: 18 Mar 2010 06:01 AM PDT The Government borrowing for February is out today and the BBC et al have seen fit to say what a wonderful day it is as the numbers are not as bad as expected. It seems that the number is about £3-4 billion better than was expected. Don;t be fooled though, Jan and Feb 2010 are the WORST EVER borrowing numbers for these months - historically they are months in surplus as tax is paid. In fact, this is why the number has bounced, the Supertax on bankers bonus’s and the late payement … [visit site to read more]

Forex Trading: USDJPY 100 Day MA At 90.07 Today Posted: 18 Mar 2010 05:55 AM PDT The price moved below the 100 day MA level overnight but bounced back (level is 90.07 today). The price moved back down to test the level off the CPI and 8:30 data and his back back again.  The level will continue to be a key level for traders today.  Look for buyers against the level with stops on moves back below. On the topside, a move above the 200 and 100 hour MA at the 90.35 and 90.43 level will help the bias further and would target key resistance at … [visit site to read more]

Forex Trading: USDCAD Watching Trendline Support At 1.0083 Posted: 18 Mar 2010 05:41 AM PDT The USDCAD broke through trendline support yesterday on its way to support at 1.0074 area.  The price corrected back above the trendline and is not back down looking to test the level.  When there is a quick reversal back above a trendline, I like to keep the integrity in tact to see how the market reacts the next time.  For one, the break was not sustainable and two, since the line is downward sloping in this case at least, a retest is also near the low from yesterday.  As … [visit site to read more]

Forex Trading: EURUSD Falls On The Greece Worries. Keeps Below Moving Average Resistance. Posted: 18 Mar 2010 05:03 AM PDT The EURUSD has remained under pressure on the back of the Greece funding situation. The cost is too high (+310 basis points over comparable German bond yields) and they do not want to go to the IMF but they are not getting anything concrete from the EU.  The EU Trade Balance was better versus a year ago as exports show good strength.  The lower EURO seems to be helping in this respect and the news caused the EURUSD to bounce higher toward upside resistance.  From a technical … [visit site to read more]

Forex Trading: The Euro Will Continue To Be Sold On Rallies Posted: 18 Mar 2010 04:51 AM PDT FX Markets continue to lack conviction and suffer from frivolous risk “on / off” sentiment (unlike equities and commodities, which have taken a clear bullish tone). The EUR and GBP’s rally was halted dead in their tracks after the wires cited Greek officials (some reports named other anonymous) stating that he was not hopeful a solid aid proposal would be reached at the March 25-26th EU summit and was prepared to go to the IMF. To make matters worse, the source said that the bad feelings … [visit site to read more]

Gold & Silver Investing: Caution Should Be Exercised Given The Strong Optimism That Surrounds Them Posted: 18 Mar 2010 04:45 AM PDT Over the first 3 months of 2010, major commodities recorded a very positive performance. Between the major ETFs and ETCs listed on the Italian Stock Exchange, ETCs on gold, silver and oil had some of the most brilliant results, rising by 5.7%, 5.7% and 6% respectively. However, the ETF based on the CRB Commodity Index was substantially unchanged in early 2010. When considering the major international asset classes that can be replicated with Italian ETFs, only European equity emerging … [visit site to read more]

Room To Fall Posted: 18 Mar 2010 04:33 AM PDT Another day, another post for DailyFinance. In today’s edition, “Got a Job? Don’t Expect a Raise Anytime Soon,” I highlight one indicator that suggests wages and salaries have more room to fall. Click here to read the … [visit site to read more]

The Price Of Gold Is Not At A Support Level At This Point Posted: 18 Mar 2010 04:22 AM PDT In our previous essay we mentioned that although it was not clearly visible in the past weeks, looking at the charts with the RSI and stochastic readings in mind, silver’s historical cyclical tendencies point to a downturn. This decline could be easily triggered by a downturn on the general stock market. However, the main stock indices did not move lower recently - instead they moved above their January 2010 high. Please note that the breakout has not been confirmed by all indices, so the … [visit site to read more]

Bull Of The Day: Cummins, Inc. (CMI) Posted: 17 Mar 2010 10:00 PM PDT Cummins, Inc. (NYSE:CMI) is set to benefit from fuel economy improvements, new emission standards and increased prices. Liquidity is also improving. However, a slump in key markets, including the U.S., and a soft heavy-duty truck market that forms over 50% of the company’s business may raise concerns. Nevertheless, the company reported strong results in the most recent quarter, driven by continued strength in China, India and Brazil, as well as an increase in demand for on-highway truck engines … [visit site to read more]

Bear Of The Day: France Telecom Posted: 17 Mar 2010 10:00 PM PDT We reiterate our Underperform recommendation for France Telecom (NYSE:FTE) based on the carrier’s lackluster operating results and lack of visibility for operational improvements in the near-term. The company remains significantly challenged by the weak economic conditions across its key European markets which continue to weigh on the top-line. Earnings for 2009 missed the Zacks Consensus Estimate. France Telecom s wireline voice business is shrinking at a greater pace than its major European … [visit site to read more]

Stock Buy: Del Monte Foods Company Posted: 17 Mar 2010 10:00 PM PDT Del Monte Foods Company (NYSE:DLM) extended its tremendous earnings surprise track record recently, when it beat for the 9th consecutive time. Company Description Del Monte Foods distributes food and pet products in the United States and South America. It owns many well-known brands such as Del Monte, Contadina, Meow Mix, Kibbles ‘n Bits, 9Lives and Milk-Bone. The company is not affiliated with Fresh Del Monte, the fruit and vegetable provider. Del Monte Earnings Surprise Streak Continued On Mar … [visit site to read more]

Stock Buy: Lincoln Educational Services Corp. Posted: 17 Mar 2010 10:00 PM PDT Lincoln Educational Services Corp. (NASDAQ:LINC) recently surged higher to hit a new 52-week high on the company’s better than expected Q4 results from early March. Company Description Lincoln Educational Services Corp. provides career oriented, post-secondary education services in the United States. The company has 30,000 plus enrollees, 43 campuses in 17 states, was founded in 1946 and has a market cap of $735 million. Private education providers have been scooping up big gains in the weak economy … [visit site to read more]

Stock Buy: Vishay Intertechnology Posted: 17 Mar 2010 10:00 PM PDT Vishay Intertechnology, Inc. (NYSE:VSH) analysts are expecting exponential growth this year, yet shares remain a great value. Company Description Vishay Intertechnology makes discrete semiconductors and other electronic components. The company’s products are used in many industries including telecom, aerospace, medical, and industrial. Beat the Street On Feb 8 Vishay Intertechnology reported a 5.5% increase in revenues for the fourth quarter of 2009. This led to net income of $28.5 million, or 17 … [visit site to read more]

Stock Buy: Brown-Forman Posted: 17 Mar 2010 10:00 PM PDT Brown-Forman (BF.B) has current dividend yield of 2.2% and analysts expect the company to deliver long-term EPS growth of 10.1%. This Zacks Rank #2 stock trades at about 17x fiscal 2011 EPS estimates. Company Description Brown-Forman Corp. is one of the leading producers and distributors of premium alcoholic beverages in the world. The company has a strong portfolio of 29 brands, including Jack Daniel’s, Southern Comfort, Canadian Mist, and Finlandia. The Kentucky-based company markets its … [visit site to read more]

Montpelier Predicts Initial Losses Posted: 17 Mar 2010 12:47 PM PDT Yesterday, Montpelier Re Holdings Ltd. (NYSE:MRH) announced its preliminary loss estimates from the 8.8 magnitude earthquake in Chile, European Windstorm Xynthia and the Australian hailstorms. Montpelier expects to incur pre-tax net losses of $75 million to $100 million from the earthquake in Chile. Additionally, the company estimates its combined pre-tax net losses from European Windstorm Xynthia and the Australian hailstorms to be less than $10 million. The estimates of Montpelier are net of … [visit site to read more]

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