Daily Markets - Financial News And Opinions |
- Macy’s Ties In With Amex
- Investor Demand Shifts From Gold To Platinum
- Stock Market News Briefs: BlackRock, Inc., CarMax Inc, Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group, Inc. (The), Mosaic Company (The), Apple Inc., Research In Motion Limited, Scholastic Corporation
- United States Lifts Oil Drilling Ban To Reduce Foreign Energy Dependence
- Chunghwa Beats Zacks Estimates
- Kinross-Barrick Deal Struck
- Forex Trading: Markets Focused On NFP Debate
- CKE Sales Decline
- Morning News Notes: 4/1/2010
- Micron Strengthens, Estimates Up
- Hartford Completes TARP Repayment
- Forex Trading: GBPUSD Falls Sharply But Holds Intraday MA Support
- Forex Trading: EURUSD Range Trading. Runs Into Sellers Above
- Swiss Franc: Caution
- Japanese Yen: The Upside Prevails
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Wheat Woes
- RIMM Misses But Outlook Strong
- Mutual Funds: Top 5 Precious Metals Funds
- Forex Trading: USDJPY Continues It’s Move Higher Today, But Stalling After Making New 2010 Highs
- Forex Trading: EURUSD Tests First Downside Target At 1.3477/1.3482
- Value And Growth Stocks Likely To Profit From eReaders
- Stock Buy: OMNOVA Solutions Inc.
- Stock Buy: Deere & Co.
- Stock Buy: Fushi Copperweld Inc.
- Bear Of The Day: Everest Re (RE)
- Bull Of The Day: Starwood Hotels (HOT)
- Stock Buy: Telmex
| Posted: 01 Apr 2010 07:49 AM PDT Macy's Inc. (NYSE:M), one of the leading department store retailers in the United States, recently entered into an agreement to co-brand its Macy's and Bloomingdale's credit cards with American Express, thereby announcing an end to the branding deal with Visa Inc. (NYSE:V).
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| Investor Demand Shifts From Gold To Platinum Posted: 01 Apr 2010 07:40 AM PDT Don Dion, thestreet.com, produced a video today diving into why it may be time for you to move some of your gold holdings to platinum. Since gold does not serve any real industrial demand, it is a great way to protect portfolios during times of market contraction. Don still sees gold as a good investment due to currency risks, however with the market expanding, more industrial precious metals may perform better. Don states that, “Platinum, unlike gold, serves industrial purposes and is … [visit site to read more]
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| Posted: 01 Apr 2010 07:36 AM PDT Research in Motion (NASDAQ:RIMM) reported fourth quarter adjusted earnings ex-items of $1.27, up from 90 cents pro-forma earnings reported a year ago, but one cent short of Zacks estimates of $1.28. Sales of $4.08 billion were ahead of year ago’s $3.46 billion, but missed targets of $4.31 billion, as 10.5 million devices were shipped versus the 11 million expected, at far below the firm’s previously forecast average selling price of $320, coming in at $311. Goldman Sachs (NYSE:GS) … [visit site to read more]
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| United States Lifts Oil Drilling Ban To Reduce Foreign Energy Dependence Posted: 01 Apr 2010 07:20 AM PDT President Barack Obama announced will lift a 20-year ban on offshore oil and natural gas drilling and exploration, hoping to create jobs, generate revenue and reduce the United States’ dependence on foreign oil. Obama and Interior Secretary Ken Salazar released a detailed plan to allow drilling off the Atlantic coast, eastern Gulf of Mexico and north coast of Alaska, provided coastlines are protected. Environmental concerns about the possibility of oil spills initially caused the drilling … [visit site to read more]
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| Chunghwa Beats Zacks Estimates Posted: 01 Apr 2010 07:19 AM PDT Chunghwa Telecom Co. Ltd. (NYSE:CHT) has declared fourth quarter 2009 financial results. Quarterly total revenue was $1,584 million, up 2.6% year-over-year. This was also better than the Zacks Consensus Estimate of $1,540 million. Despite facing increased competition and an extremely challenging economic environment, the company was able to raise its subscriber base for both high-speed broadband and mobile businesses.
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| Posted: 01 Apr 2010 07:07 AM PDT Canadian gold mining company Kinross Gold Corporation (NYSE:KGC) has sold its 25% interest in the Cerro Casale project in Chile to larger rival Barrick Gold Corporation (NYSE:ABX) as announced on February 17, 2010. With a 75% interest, Barrick now has control over one of the world’s largest undeveloped gold-copper deposits. Kinross is left with a 25% stake in the project.
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| Forex Trading: Markets Focused On NFP Debate Posted: 01 Apr 2010 07:02 AM PDT Markets are clearly digesting / debating yesterday’s surprise ADP report and correlation to Friday’s NFP. Some very well respected banks are now rapidly backpedalling on what already seemed boisterous forecasts. The median forecast for NFP on Bloomberg has dropped to 184k from 190k, and we suspect if there was more time the median would drop further. What seems to have damaged the economist’s prediction has been the temporary effect from weather and Census hiring. Currently, our base … [visit site to read more]
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| Posted: 01 Apr 2010 07:01 AM PDT CKE Restaurants Inc. (NYSE:CKR), the quick-service restaurant operator, recently posted dismal sales results at its company-owned locations for the four-week period ended March 22, 2010.
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| Posted: 01 Apr 2010 06:51 AM PDT The “Morning News Notes” as prepared by TL…jobless claims, North Korea, AAPL’s IPAD, and the 2010 Congressional elections. Just click on the link or the coffee mug below. “Morning News Notes”: April 1, … [visit site to read more]
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| Micron Strengthens, Estimates Up Posted: 01 Apr 2010 06:47 AM PDT Micron Technology (NYSE:MU), one of the largest memory companies, reported second quarter of fiscal year 2010 earnings that beat the Zacks Consensus Estimate by 14 cents. Revenue beat the Consensus by 7.7%.
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| Hartford Completes TARP Repayment Posted: 01 Apr 2010 06:33 AM PDT Following its accumulation of $3.05 billion funds from new securities, Hartford Financial Services Group Inc. (NYSE:HIG) said on Wednesday that it has completed the repayment of the entire $3.4 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.
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| Forex Trading: GBPUSD Falls Sharply But Holds Intraday MA Support Posted: 01 Apr 2010 06:32 AM PDT The GBPUSD fell down below the 1.5247 level after holding the upside trendline resistance and the price fell sharply. The price moved down to the 100 bar MA on the 5 minute chart but found quick profit taking buyers. The price is now between the two levels and I would look for the 1.5247 level to now provide resistance while the 100 bar MA below will be eyed for support (along with the 200 bar - at 1.5222 and 1.5210 respectively).
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| Forex Trading: EURUSD Range Trading. Runs Into Sellers Above Posted: 01 Apr 2010 06:23 AM PDT The 100 hour MA held the downside move this morning (see earlier post). The resulting push back higher however, has run into resistance at the 1.3505 level which was a floor from yesterday and is also where the 200 bar MA on the 5 minute chart is found. As a result we are seeing the sellers against the level. Support remains at the 100 hour MA below. Resistance at the 200 bar MA on the 5 minute chart above. A break should see further momentum in the direction of the break with … [visit site to read more]
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| Posted: 01 Apr 2010 06:18 AM PDT |
| Japanese Yen: The Upside Prevails Posted: 01 Apr 2010 06:17 AM PDT |
| British Pound: The Upside Prevails Posted: 01 Apr 2010 06:17 AM PDT |
| Posted: 01 Apr 2010 06:17 AM PDT |
| Posted: 01 Apr 2010 06:17 AM PDT Fundamentals
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| RIMM Misses But Outlook Strong Posted: 01 Apr 2010 06:16 AM PDT Yesterday after market close, Research In Motion Ltd. (NASDAQ:RIMM) declared its fourth quarter fiscal 2010 financial results, which were below the Zacks Consensus Estimate. Consequently, its stock price was down $3.42 (4.62%) to $70.55 in after-market trade on Nasdaq. Nevertheless, management provided a solid financial guidance for the ongoing first quarter of fiscal 2011, which may act as a silver lining for the stock in the near term.
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| Mutual Funds: Top 5 Precious Metals Funds Posted: 01 Apr 2010 06:07 AM PDT Precious metals have always been a source of comfort for investors during difficult times. They are considered to be natural hedges against a rapidly declining currency. Thus, even a small portion of precious metals in a portfolio can provide significant protection against inflation. Securities related to these industries acquire greater importance when markets are volatile and during these times can provide far better returns than equities. With the advantages of professional insight and … [visit site to read more]
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| Forex Trading: USDJPY Continues It’s Move Higher Today, But Stalling After Making New 2010 Highs Posted: 01 Apr 2010 05:36 AM PDT Initial support can be found at the 100/200 bar MA on the 5 minute chart at the 93.53/48 levels.
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| Forex Trading: EURUSD Tests First Downside Target At 1.3477/1.3482 Posted: 01 Apr 2010 05:03 AM PDT The 1.3477-82 level is 1st support for the EURUSD. This level is the 61.8% of the 2009 low to high trading range. The low today extended to 1.3475 before bouncing. Now the price is looking to break and move toward teh next target at the 1.3457 level. This is the 100 bar MA on the 5 minute chart. Better support comes in at 1.3437, the initial low price for 2010 reached on March 2nd 2010. Upside resistance will now come in at the 1.3493/99 … [visit site to read more]
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| Value And Growth Stocks Likely To Profit From eReaders Posted: 01 Apr 2010 05:01 AM PDT A disruptive technology is an innovation that takes a new approach to an existing product or process and reshapes its market. Steam engine displacing sails in ships and liquid crystal display displacing cathode ray tubes in TVs are examples of disruptive technologies. For investors, a disruptive technology offers opportunities to score spectacular returns and avoid serious losses. Mark Bernstein, CEO of Xerox’s (NYSE:XRX) Palo Alto Research Center has described eReader/eBook as the next … [visit site to read more]
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| Stock Buy: OMNOVA Solutions Inc. Posted: 31 Mar 2010 10:00 PM PDT OMNOVA Solutions Inc. (NYSE:OMN) just topped earnings projections, sending shares to a new 52-week high.
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| Posted: 31 Mar 2010 10:00 PM PDT Deere & Co. (NYSE:DE) continues to pressure its 52-week high at $62.08 on rising estimates and a bullish next-year growth projection.
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| Stock Buy: Fushi Copperweld Inc. Posted: 31 Mar 2010 10:00 PM PDT Fushi Copperweld, Inc. (NASDAQ:FSIN) saw sales rebound in the fourth quarter on China’s continuing growth. The stock is cheap, trading at just 9.3x forward earnings.
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| Bear Of The Day: Everest Re (RE) Posted: 31 Mar 2010 10:00 PM PDT We are downgrading our recommendation on Everest Re (NYSE:RE) to Underperform. The company has recently announced its initial loss estimates from the earthquake in Chile and the European Windstorm Xynthia. The losses are substantial.
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| Bull Of The Day: Starwood Hotels (HOT) Posted: 31 Mar 2010 10:00 PM PDT We are upgrading our recommendation on Starwood Hotels & Resorts Worldwide (NYSE:HOT) to Outperform. The company’s fourth quarter operating earnings were well ahead of the Zacks Consensus Estimate, primarily driven by better-than-expected revenue.
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| Posted: 31 Mar 2010 10:00 PM PDT Telmex Internacional (NYSE:TII) shares are trading about 24x consensus estimates for 2010 and 18x consensus EPS estimates for 2011.
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