Daily Markets - Financial News And Opinions

---

• Eaton Expanding In China
• News Corp. To Charge Online Access
• BJ’s Ups Repurchase Program
• Fitch Slashes SunTrust Ratings
• Forex Trading: USDJPY Moves Above The 92.72/78
• Stock Market News Briefs: AT&T Inc., Avnet, Inc., Chubb Corporation (The), LDK Solar Co. Ltd., McDonald’s Corporation, UBS AG, Verizon Communications Inc., Apple Inc., Netflix, Inc., Research In Motion Limited
• FEMSA-Heineken Deal Approved
• Forex Trading: EURUSD Comes Down To Test 1.3437
• Geely Finances $2.7B For Volvo
• Forex Trading: GBPUSD Support At 1.5090 Being Tested
• BofA Sets Up Cisco’s TelePresence
• Swiss Franc: The Upside Prevails
• Japanese Yen: The Upside Prevails
• British Pound: The Upside Prevails
• Euro: The Upside Prevails
• Forex Trading: EUR/USD Bears Still In Control
• Mutual Funds: Top 5 Real Estate Funds
• Forex Trading: AUDUSD Moves Above The Key Resistance
• U.S. Treasury To Sell $7.7 Billion Stake In Citigroup In “Orderly And Measured Fashion”
• Forex Trading: GBPUSD Tests Midpoint Resistance At NY Open
• Ready Or Not, Here Comes A Corn ETF
• Stock Buy: Williams-Sonoma Inc
• Stock Buy: Finish Line
• Bull Of The Day: DeVry, Inc. (DV)
• Stock Buy: Hanger Orthopedic Group Inc.
• Bear Of The Day: SINA Corporation (SINA)
• Stock Buy: Royal Caribbean Cruises Ltd.

Eaton Expanding In China Posted: 30 Mar 2010 08:01 AM PDT Eaton Corporation (NYSE:ETN) announced that it will expand its vehicle operations in China by investing in a new engine valve production facility in Jining City, Shandong Province.   The facility will be located in the campus of Eaton Hydraulics System (Jining) Co. Ltd., which produces steering pumps, hydraulic motors and filtration components. It is Eaton's largest manufacturing base for hydraulics products in the Asia-Pacific. Eaton's investment in the Jining facility represents its … [visit site to read more]

News Corp. To Charge Online Access Posted: 30 Mar 2010 07:47 AM PDT News Corporation (NWSA), the media conglomerate, has taken a leap towards an online subscription-based model for general news content.   Business newspapers such as Financial Times and Wall Street Journal (owned by News Corporation) have long been following an online pay model. But charging readers for online access of general news content is a "first” for any news publication.   News International, a subsidiary of News Corporation, will soon begin charging readers for online … [visit site to read more]

BJ’s Ups Repurchase Program Posted: 30 Mar 2010 07:30 AM PDT BJ's Wholesale Club, Inc. (NYSE:BJ), a leading warehouse club operator in the United States, recently declared that its Board of Directors has raised the share repurchase program by $200 million bringing the total authorization to about $271.8 million.  Earlier, BJ's had hinted that it would repurchase about $100 million worth of shares in fiscal 2010. During fiscal 2009, the company bought back 4.1 million shares at an average cost of $31.08, aggregating $127.5 million.  BJ's … [visit site to read more]

Fitch Slashes SunTrust Ratings Posted: 30 Mar 2010 07:15 AM PDT With the concerns of continued weakness in mortgages and commercial loan losses, rating agency Fitch Ratings recently lowered the ratings of SunTrust Banks Inc. (NYSE:STI).   The rating agency downgraded the long-term issuer default ratings (IDR) for SunTrust and its bank subsidiary to “BBB+” from “A-”. Also, the short-term IDR was lowered to “F2″ from “F1″. There were several other rating downgrades. However, the rating outlooks remain stable.   SunTrust's fourth quarter operating … [visit site to read more]

Forex Trading: USDJPY Moves Above The 92.72/78 Posted: 30 Mar 2010 07:11 AM PDT The USDJPY moved above the 92.72/78 level which has been a ceiling for the pair over the last few weeks.   Look for support against the … [visit site to read more]

Stock Market News Briefs: AT&T Inc., Avnet, Inc., Chubb Corporation (The), LDK Solar Co. Ltd., McDonald’s Corporation, UBS AG, Verizon Communications Inc., Apple Inc., Netflix, Inc., Research In Motion Limited Posted: 30 Mar 2010 07:09 AM PDT  A WSJ report that Apple (NASDAQ:AAPL) is developing an iPhone with CDMA capability for Verizon (NYSE:VZ) as well as a new iPhone to be offered this summer sent shares in the firm up 4% in pre-market trade.  Verizon shares are trading 1.3% higher, with AT&T (NYSE:T) up 1.0%. Research in Motion (NASDAQ:RIMM) shares are down 1.6% on the news  Vale (VALE) and Nippon Steel reportedly agreed to a $105 per ton iron ore price, up about 90% from 2009, as Japanese steelmakers moved to price … [visit site to read more]

FEMSA-Heineken Deal Approved Posted: 30 Mar 2010 07:00 AM PDT The Comisión Federal de Competencia, the anti-trust regulating authority under the Ministry of Economy, Mexico, recently approved the deal between FEMSA, formally known as Fomento Económico Mexicano, S.A.B de C.V. (NYSE:FMX), one of the largest brewers in the country, and Heineken N.V., the largest brewery in Europe, for the acquisition of the beer operations of the former.   Heineken will acquire FEMSA Cerveza, comprising 100% of its Mexican beer operations (including the U.S. and other … [visit site to read more]

Forex Trading: EURUSD Comes Down To Test 1.3437 Posted: 30 Mar 2010 06:55 AM PDT The EURUSD fell to a low of 1.3441 just above the support at the 1.3437 level. The 1.3437 level was the low price from March 2nd 2010 and until last week that was the low for 2010.  The price used the level as support yesterday and it looks like it is continuing to use the level as support again … [visit site to read more]

Geely Finances $2.7B For Volvo Posted: 30 Mar 2010 06:45 AM PDT China's Zhejiang Geely Holding Group has secured a financing of $2.7 billion to acquire the Swedish brand Volvo from Ford Motor (NYSE:F). Geely would pay $1.8 billion for the unit, much less than $6.45 billion that Ford paid for it in 1999.   The price includes a $200 million note presented by Ford, with the remaining $1.6 billion to be paid out in cash. Geely will make the cash payment partly by using its own funds and partly by using an undisclosed amount of loans that it has procured … [visit site to read more]

Forex Trading: GBPUSD Support At 1.5090 Being Tested Posted: 30 Mar 2010 06:33 AM PDT The GBPUSD support continues to be at the 1.5090 level. This is the 50% retracement of the last move down from the March 17th high to the low. The market has squeezed up to a high of 1.5112 and the price has trended higher for most of the trading day today.    As long as support can hold against the level, the bias remains to the upside. If the level gives way look for support initially at the 1.5070 and 1.5063 where the 100 bar MA on the 5 minute chart is … [visit site to read more]

BofA Sets Up Cisco’s TelePresence Posted: 30 Mar 2010 06:30 AM PDT In order to manage meetings flexibly and reduce the need of executive travel, Bank of America Corp. (NYSE:BAC) said on Monday that it will set up Cisco Systems Inc.’s (NASDAQ:CSCO) TelePresence videoconferencing equipment.   TelePresence is a highly realistic video and audio links and data exchange equipment, which provides virtual business meeting capabilities.   Charlotte-based BofA, which already uses 28 TelePresence systems, initially intends to install 200 TelePresence units for its … [visit site to read more]

Swiss Franc: The Upside Prevails Posted: 30 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Upside Prevails Posted: 30 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 30 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Euro: The Upside Prevails Posted: 30 Mar 2010 06:17 AM PDT Update on supports and resistances. … [visit site to read more]

Forex Trading: EUR/USD Bears Still In Control Posted: 30 Mar 2010 06:01 AM PDT Risk sentiment continues to firm, following the Euro zone / IMF agreement to bailout, if necessary, an ailing Greece. However, the lack of collateral exuberance in FX markets has us hesitant in climbing aboard the EUR rally bandwagon just yet. Greece’s test of the capital markets appetite with yesterday’s 7yr benchmark bond issue went relatively smoothly. Although yield remained elevated (325bps higher than the German equal), bid-to-cover ratio was lower than before, at just under 1.5 and saw … [visit site to read more]

Mutual Funds: Top 5 Real Estate Funds Posted: 30 Mar 2010 05:35 AM PDT Securities from the real estate sector should continue to be an integral part of portfolios over the long term even though this industry has seen tough times recently. Mutual funds in this sector have delivered excellent returns in the past and are a convenient way to invest in real estate. This is because they have low initial investment requirements and their diversified portfolios and professional management help in lowering the risk involved. Investors willing to hold positions over the … [visit site to read more]

Forex Trading: AUDUSD Moves Above The Key Resistance Posted: 30 Mar 2010 05:34 AM PDT The 0.9194 level has been a ceiling level for the AUDUSD. The price has moved above this level and remained above for the last 7 hours.  This is key support today. Looking at the 5 minute chart the price has been using the 100 bar MA as support since the opening on Sunday night (with a couple small dips).  The current level comes in at the 0.9197.    SO far, support is holding. However, a break below these key levels at 0.9197 and 0.9194, should lead to some … [visit site to read more]

U.S. Treasury To Sell $7.7 Billion Stake In Citigroup In “Orderly And Measured Fashion” Posted: 30 Mar 2010 05:15 AM PDT The U.S. Treasury Department said yesterday (Monday) that it plans to sell the government’s $7.7 billion stake in Citigroup Inc. (NYSE:C) this year, bringing the bank one step closer to leaving the bailout program. “Treasury intends to sell its Citigroup common shares into the market through various means in an orderly and measured fashion,” the Treasury said in a statement. “The manner, amount and timing of the sales under the plan is dependent upon a number of factors.” The Treasury said … [visit site to read more]

Forex Trading: GBPUSD Tests Midpoint Resistance At NY Open Posted: 30 Mar 2010 05:02 AM PDT   The GBPUSD has been testing the 50% retracement level at the 1.5090 level. NY took it briefly above as they entered for the day.  The high reached 1.5100 and came off.  The current price remains near the key resistance level.   I expect sellers against the level with stops above the key level.  On the downside, the 1.5051 is the target support. This is the 38.2% of the days range and where the 100 bar MA on the 5 minute chart is moving … [visit site to read more]

Ready Or Not, Here Comes A Corn ETF Posted: 30 Mar 2010 03:52 AM PDT Recent years have seen the launch of hundreds of new exchange-traded products, many of which offer increasingly granular exposure to various asset classes. The latest innovation comes in the commodity space, where Vermont-based Teucrium Trading LLC filed with the SEC for an ETF that invests in Chicago Board of Trade Corn Futures. The Teucrium Corn Fund (CORN) would hold a portfolio consisting of three separate corn futures contracts, including: 35% in the second-to-expire CBOT Corn Futures … [visit site to read more]

Stock Buy: Williams-Sonoma Inc Posted: 29 Mar 2010 10:00 PM PDT Williams-Sonoma, Inc. (NYSE:WSM) topped estimates once again, sending shares to multi-year highs. Top-line growth helped the company report its sixth consecutive surprise. Company Description Williams-Sonoma is a higher-end retailer that operates under brands that include Williams-Sonoma, Pottery Barn and others. Items are purchased through over 600 stores, catalogs and the company’s websites. 8% Increase in Revenue On Mar 22 Williams-Sonoma reported fourth-quarter results that showed revenues of … [visit site to read more]

Stock Buy: Finish Line Posted: 29 Mar 2010 10:00 PM PDT Finish Line (NASDAQ:FINL) has a Zacks #1 Rank and trades at 19.1x 2011 consensus EPS estimates. Finish Line is decent growth and income play. Analysts estimate that FINL will deliver long-term EPS growth of 11.3% annually, and its stock has a current dividend yield of 1.0%. Company Description Finish Line operates as a mall-based specialty retailer in the U.S. It sells mens, womens, and childrens athletic, lifestyle, and outdoor footwear under the Finish Line brand name. It operates approximately … [visit site to read more]

Bull Of The Day: DeVry, Inc. (DV) Posted: 29 Mar 2010 10:00 PM PDT DeVry, Inc. (NYSE:DV) is a leading provider of post secondary education in North America and commands a strong portfolio of well-established brands. Moreover, DeVry is also taking initiatives to diversify revenue streams and optimize its real estate strategy, which augurs well for future operating performance. Furthermore, the company has a consistent track record of returning cash to shareholders in the form dividends and share buybacks. Our long-term recommendation on DeVry is Outperform as we … [visit site to read more]

Stock Buy: Hanger Orthopedic Group Inc. Posted: 29 Mar 2010 10:00 PM PDT Hanger Orthopedic Group, Inc. (NYSE:HGR) saw revenue rise year over year in 2009 and projects further growth in 2010. Hanger is trading with a forward P/E of 14.7. Company Description Hanger Orthopedic Group operates 677 patient care centers specializing in orthotics and prosthetics as well as distribution centers in 45 states and the District of Columbia. The company also operates two other business units, Linkia, which provides network management for the orthotics and prosthetics industry, and … [visit site to read more]

Bear Of The Day: SINA Corporation (SINA) Posted: 29 Mar 2010 10:00 PM PDT After posting strong results in 2008, SINA Corp. (NASDAQ:SINA) posted weak financial results for 2009, due to dismal macroeconomic conditions. Both its revenue and EPS were below the year-ago levels. The fourth quarter of 2009 brought the company’s first loss in years and was well below the Zacks Consensus Estimate. The company also provided a weak outlook for the first quarter of 2010, as a result of slowdown in the Chinese economy, the global financial and credit market crisis and low visibility … [visit site to read more]

Stock Buy: Royal Caribbean Cruises Ltd. Posted: 29 Mar 2010 10:00 PM PDT Royal Caribbean Cruises Ltd. (NYSE:RCL) recently hit a new 52-week high as the company’s earnings rebounds on a resurgent global economy and a commitment to cutting costs. Company Description Royal Caribbean Cruises Ltd. operates in the cruise vacation industry in North America and Internationally. The company was founded in 1968 and has a market cap of $7.2 billion. Fourth-Quarter Results Royal Caribbean pleased its shareholders on Jan 28 with Q4 results that came in ahead of expectations. … [visit site to read more]

You are subscribed to email updates from Daily Markets To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610