Mar 17, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Isis Drug Phase III Data Published

Posted: 17 Mar 2010 09:44 AM PDT

Isis Pharmaceuticals, Inc. (NASDAQ:ISIS) and Genzyme Corp. (NASDAQ:GENZ) recently announced the publication of phase III data on mipomersen in The Lancet. The data was published from a study that was conducted in patients with homozygous familial hypercholesterolemia (hoFH). 

Results, which were presented at the annual American Heart Association meeting in November 2009, showed that mipomersen met its primary endpoint. The candidate achieved a 25% reduction in low-density lipoprotein – … [visit site to read more]


Polycom Up For Sale?

Posted: 17 Mar 2010 09:29 AM PDT

Industry sources rumored that Polycom Inc. (NASDAQ:PLCM), the largest manufacturers of unified collaborative solutions, is likely to be privatized soon. Apax Partners, a London-based private equity company is negotiating with Polycom from last November and may place a formal offer to purchase Polycom by the end of this month. 

After Cisco System Inc's (NASDAQ:CSCO) decision to purchase Tandbarg TV of Norway, Polycom remains the only pure play unified collaborative solutions provider which is yet … [visit site to read more]

PPI Falls More Than Expected

Posted: 17 Mar 2010 09:18 AM PDT

In February, the Producer Price Index (PPI) fell by 0.6%, a far bigger decline than the 0.2% drop expected by the consensus of forecasts. However, all of the decline came from a bigger-than-expected fall in Energy prices. The core index, which strips out the volatile food and energy components rose by 0.1%, which was in line with forecasts.

The decline in the headline number only partially reversed the big 1.4% increase in January, which came on top of a 0.4% rise in … [visit site to read more]

TWC Expanding Wideband

Posted: 17 Mar 2010 09:14 AM PDT

Time Warner Cable Inc. (NYSE:TWC), the second largest cable MSO of the U.S. is quickly expanding its wideband coverage using high-speed DOCSIS 3.0 technology leveraging its fiber-optic network. The company recently launched its residential tier wideband Internet in North Texas. Time Warner Cable will offer its residential tier Wideband service with 50 Mbps downstream and 5 Mbps upstream speed for $99.95. 

Like other cable operators, Time Warner Cable also started aggressively rolling out … [visit site to read more]

Morning Stock Market Movers: Lincoln National, Sketchers USA, The Clorox Company

Posted: 17 Mar 2010 09:08 AM PDT

The Clorox Company (NYSE:CLX) - Shares of household products manufacturer, Clorox Co., rallied to a new 52-week high of $64.00 yesterday after receiving an upgrade to 'overweight’ from 'equalweight’ with a target share price of $71.00 at Barclays Capital. Clorox’s share price is up 0.35% to attain yet another new 52-week high of $64.16 in the current session. Options traders concentrated almost exclusively on Clorox calls, trading the contracts at a rate of more than 35 calls for each … [visit site to read more]

Illinois Tool Offers Bright Outlook

Posted: 17 Mar 2010 08:59 AM PDT

Recently, Illinois Tool Works Inc. (NYSE:ITW) reported a year-on-year increase of 10% in total operating revenue for the three months ended Feb 28, 2010. 

Base revenues contributed 2% to revenue growth, and acquisitions and currency translation added 2% and 6%, respectively. The improvement in base revenue was largely due to increased production by global automotive manufacturers as well as modest improvement in the industrial packaging and polymers and fluids end-markets.
 
Illinois … [visit site to read more]

Medtronic’s Study In Trouble

Posted: 17 Mar 2010 08:49 AM PDT

Medtronic Inc. (NYSE:MDT) has received several complaints from the U.S. Food and Drug Administration (FDA) regarding the company's study of a new pacemaker that can be used in a Magnetic Resonance Imaging (MRI) machine. The FDA has raised concerns over the small population size and missing data in the study.
 
The study involved more than 500 patients with pacemakers, half of whom were randomly assigned to receive an MRI scan. However, Medtronic failed to provide a detailed follow-up on … [visit site to read more]

Forex Trading: GBPUSD Falls Through 1.5294 Support Level.

Posted: 17 Mar 2010 08:36 AM PDT

The GBPUSD fell through the 100 bar MA on the 5 minute chart at the 1.5304 and through support at 1.5294. This is a disappointment for the pair/bulls off the better unemployment numbers this morning. London exits for the day at 12:00 noon today. The move may be related to that and the London fix at that time.   Next support at 61.8% of the days range at 1.5274 and the 200 bar MA at the 1.5267 level (green line in the chart … [visit site to read more]

Bad News For Boston Scientific

Posted: 17 Mar 2010 08:32 AM PDT

Boston Scientific Corporation (NYSE:BSX) recently suspended sales of its defibrillators after the company failed to alert the U.S. Food and Drug Administration (FDA) regarding changes in the manufacturing process of these devices. The company will retrieve all the affected devices from suppliers and hospitals. The resumption of sales is still unclear.
 
The news is extremely bad for Boston Scientific and could even affect its market share. The company is one of the leaders in the global … [visit site to read more]

Australian Dollar: Turning Down

Posted: 17 Mar 2010 08:17 AM PDT

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

Canadian Dollar: Under Pressure

Posted: 17 Mar 2010 08:17 AM PDT

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

Major Boost For 3D TV

Posted: 17 Mar 2010 08:12 AM PDT

The latest technology of 3D-capable television sets and 3D-capable computer monitors received a shot in the arm yesterday. The Augusta National Golf Club and Masters Tournament Committee announced that the 2010 Masters tournament will be telecast live on 3D-capable sets. This will be the first sport broadcasting using 3D technology. The tournament will take place from 7 to 11 April. The tournament committee is negotiating with several companies to place multiple 3D cameras strategically … [visit site to read more]

Forex Trading: EURUSD Approaches Support At 1.3722

Posted: 17 Mar 2010 08:11 AM PDT

The 100 hour MA comes in at 1.3722. This is key intraday support for the EURUSD.  Look for profit taking buyers against the … [visit site to read more]

Video: Keep An Eye On Oil Prices

Posted: 17 Mar 2010 07:55 AM PDT

Floor trader Alan Valdes analyzes today’s market activity while sharing his concerns over oil prices and what effect it may have on the markets. … [visit site to read more]

Video: Positive Session Throughout Asia

Posted: 17 Mar 2010 07:34 AM PDT

0317/10 The major Asian/Pacific markets were all on the upside this session followed by gains in commodity-related stocks. … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: CIT, HIG, BBI

Posted: 17 Mar 2010 07:33 AM PDT

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

Complacency? Never.

Posted: 17 Mar 2010 07:18 AM PDT

A quick look around the web reveals that type of impenetrable bullishness where it is clear skies and happy days as far as the eye can see. Gosh, I only wish it was so easy.

From this morning’s MarketWatch we have this headline:

And yesterday’s edition had my favorite “R” word:

It is all good until it isn’t. On January 17, 2010 I wrote the following:

“There are two kinds of bulls: 1) there are those bulls who are intent on squeezing every last percentage point from this rally and who … [visit site to read more]
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