Forex News, Advices, Strategies

The SEC Takes Aim At 12(b)-1 Fees In ETFs « Tom Lydon »

Tue, 9 Feb 2010 16:01:59 CST

The Motley Fool - I have a frequent and pleasant daydream in which the Virginia lottery board calls and says, "Congratulations! You've won the highest jackpot ever! Would you like to take that in a lump sum or divided up over 30 years?" This is truly the stuff of fantasy, though, particularly because I don't buy lottery tickets. Much more realistic for my family is what to do in the face of too many important financial goals and too little money to fund them all.

Biogen Beats & Guides Higher « Zacks Investment Research »

Tue, 9 Feb 2010 16:01:35 CST

The Securities and Exchange Commission (SEC) is cracking down on the mutual fund and exchange traded fund (ETF) industry. The target of its ire: 12(b)-1 fees. SEC Chairman Mary Schapiro says that they will begin to move on the issue of 12(b)-1 fees collected by brokers this year, reports Sara Hansard for InvestmentNews. 12b-1 fees are a ...

Video: McDonald’s January Profit Surges On International Sales « NYFP »

Tue, 9 Feb 2010 15:59:15 CST

Biogen Idec Inc. (BIIB) reported fourth quarter earnings per share of $1.18, beating the Zacks Consensus Estimate of $1.05. The company reported earnings of 91 cents in the year-ago period. Performance was driven by higher revenues and lower expenses. Revenues increased 5% to $1.1 billion, with Tysabri and Avonex being the primary growth drivers. For the full ...

No Wonder Many Americans Are Pessimistic « Michael Panzner »

Tue, 9 Feb 2010 15:58:00 CST

McDonald's announced that its January same-store sales surged above expectations due to a large increase in international sales.

Becton Recalls Catheters « Zacks Investment Research »

Tue, 9 Feb 2010 15:47:53 CST

At first glance, today’s report from the U.S. Bureau of Labor Statistics that job openings rose 2.6 percent in December from a month earlier could be seen as a positive sign for the labor market, especially considering that official jobless totals have declined for three straight months (through January). Since the downturn began, however, the ranks ...

Video: NYSE Closing Bell Market Monitor: CAT, KO, MCD « NYFP »

Tue, 9 Feb 2010 15:43:57 CST

Becton, Dickinson and Company (BDX) recently started expanding the recall of its catheters as a result of a manufacturing problem that could cause fatal embolisms or blood leakage. Becton is recalling its defective Q-Syte Luer Access Devices and Nexiva Closed IV Catheter Systems. The company started the initial recall of these products on Oct 28, ...

CRK Misses On Lower Gas Prices « Zacks Investment Research »

Tue, 9 Feb 2010 15:32:45 CST

The latest in news, commentary, and information on what's moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ "http://www.nyx.com/marketmonitor"

Video: Front Month Crude Rises As Equities Surge « NYFP »

Tue, 9 Feb 2010 15:27:35 CST

Oil and natural gas firm Comstock Resources Inc. (CRK) reported weaker-than-expected fourth quarter results as low natural gas prices more than offset a rise in production volumes. The loss from operations came in at 15 cents per share, much wider than the Zacks Consensus Estimate of 7 cents. In the year-ago period, the company earned ...

Molson Coors Misses Expectations « Zacks Investment Research »

Tue, 9 Feb 2010 15:20:54 CST

Light, sweet crude for March delivery rose this session as US equities surged and the US dollar weakened.

UBS Profits, Outflows Continue « Zacks Investment Research »

Tue, 9 Feb 2010 15:08:02 CST

Molson Coors Brewing Co.’s (TAP) second-quarter earnings came in at $222.1 million, compared to $93.7 million in the year-ago quarter. Excluding certain one-time items, pro forma earnings came in at $1.02 per share, which missed the Zacks Consensus Estimate of $1.10 per share derived from 9 covering analysts. The worse-than-expected results were primarily caused by ...

Kansas House panel reviews tax credit reform (AP)

Tue, 9 Feb 2010 15:06:29 CST

The USD was mildly weaker against the majors, with the commodity currency seeing the largest appreciation after yesterday’s fall. While not a complete surprise, China’s 50bp hike in banks reserve ratio put risk on a back footing, highlighting how sensitive market participants are to any tightening. The move is expected to freeze roughly CNY270bn at Chinese banks. Given China’s massive demand for...

Stocks rallied; Dollar retreats

Tue, 9 Feb 2010 15:05:00 CST

FXstreet.com (Córdoba) – Commodities currencies were the best performers on Tuesday across the...

For more information, read our latest forex news.

Biotech ETFs Head-To-Head « Michael Johnston »

Tue, 9 Feb 2010 15:03:56 CST

UBS AG (UBS) has reported a fourth quarter net profit of CHF 1.21 billion ($1.1 billion) compared to a loss of CHF 564 million in the prior quarter and a loss of CHF 9.56 billion in the year-ago quarter. This is the first positive quarter since the third quarter of 2008.  Results were aided by ...

Democratic And Republican Views At Comedic Loggerheads « Daily Reckoning »

Tue, 9 Feb 2010 15:00:44 CST

As the ETF industry has grown by leaps and bounds in recent years, continued innovation has enabled investors to achieve more granular exposure than ever through exchange-traded products. Diversified ETFs targeting relatively narrow sectors of the domestic and global economy have multiplied, including funds targeting the [[airline]], [[gaming]], insurance, [[gold mining]], timber, and [[food and ...

Cognizant Tops Estimates « Zacks Investment Research »

Tue, 9 Feb 2010 14:54:09 CST

First, the politicians appeared on the comedy shows… and now the comedians and talking heads can themselves represent the political debate. The laugh-ability of politics is almost getting too serious, or the other way around? At least it’s often funny, like this memorable moment: Jon Stewart: Once you allow in a vacuum of power, what will assume ...

Pulte Homes Loss Widens « Zacks Investment Research »

Tue, 9 Feb 2010 14:38:36 CST

Cognizant Technology Solutions Corporation (CTSH) reported revenues of $902.7 million in the fourth quarter, up 20% year over year and up 6% sequentially. Earnings per share (EPS) came in at 50 cents compared to 41 cents in the year-ago quarter and beat the Zacks Consensus Estimate of 46 cents. Operating margin came in at 19.9%, in ...

Not Layoffs, But Lack Of New Jobs « Zacks Investment Research »

Tue, 9 Feb 2010 14:27:28 CST

Pulte Homes (PHM) has shown a loss of $835 million or $2.21 per share (before special items) for the fourth quarter of 2009, driven by weak demand for new homes. This is much broader than the loss of $480 million or $1.89 per share (before special items) in the same quarter a year ago and ...

Coca Cola Reports In Line « Zacks Investment Research »

Tue, 9 Feb 2010 14:24:34 CST

When the Bureau of Labor Statistics puts out its monthly employment report like it did last Friday, the number of jobs gained or lost is the net number between jobs lost and jobs gained. Today, they put out a more detailed picture — but for December, not January — in what is known as the ...

Forex Trading: USDJPY Looking To Test The 100 Hour MA « Greg Michalowski »

Tue, 9 Feb 2010 14:15:01 CST

Coca Cola Company (KO) reported fourth quarter 2009 results with earnings of 66 cents per share, which was in line with the Zacks Consensus Estimate. Earnings were up 3.0% year-over-year. Net revenues increased 5.4% year-over-year during the quarter, due to a 5% positive impact from currency translation and 1% increase in concentrate sales which were partially ...

Unisys Revenues Lower « Zacks Investment Research »

Tue, 9 Feb 2010 14:13:16 CST

The USDJPY has wandered higher today and is running into the 100 hour moving average at the 89.74 level.  The highs for the day tested the levels but the price has not been able to push over the level.   The downside has trendline support at the 89.28 level.  Shorter term support comes in at the 89.54 ...

The “Second Round Of Pain” « Daily Reckoning »

Tue, 9 Feb 2010 14:11:59 CST

Unisys Corporation (UIS) reported revenues of $1.21 billion in the fourth quarter of 2009, down 5% year over year. Foreign exchange rates had an approximately 5 percentage-point positive impact on revenue in the quarter. Revenue in the United States declined 14% to $495 million. Revenue in international markets increased 1% to $715 million. On a segment basis, ...

Forex: GBP/USD pulls back below 1.5700

Tue, 9 Feb 2010 14:11:00 CST

FXstreet.com (Córdoba) – Markets in the US rose on Tuesday on a potential financial rescue of...

For more information, read our latest forex news.

Principal Financial Misses « Zacks Investment Research »

Tue, 9 Feb 2010 14:10:45 CST

If you’ve been thinking about reducing exposure to stocks, now might be a good time. And if you’ve been thinking about increasing your exposure to precious metals, now might be a good time. According to Morgan Stanley economist Gerard Minack, the stock market is in for a correction after its 9-month “relief rally.” In a note ...

Synopsys To Acquire CoWare « Zacks Investment Research »

Tue, 9 Feb 2010 13:55:35 CST

Principal Financial Group’s (PFG) fourth quarter earnings of $200.9 million or 62 cents a share missed the Zacks Consensus Estimate of 65 cents. The company had earned $179.0 million or 69 cents in the year-ago quarter. The miss was driven by lower-than-expected revenue. Also, the reported quarter had more shares outstanding due to the company’s common ...

Copper Could Be Positioning Itself To Upstage Gold « Money Morning »

Tue, 9 Feb 2010 13:50:01 CST

Synopsys Inc. (SNPS) is on an acquisition spree. After the company’s acquisition of VaST Systems Technology Corporation, Synopsys has now announced an agreement to acquire CoWare, Inc.  The company expects this acquisition to augment Synopsys’ portfolio of design and verification products used in wireless, consumer and automotive design. CoWare is a global supplier of software and ...

MetLife may pay AIG in stock, cash for unit: source (Reuters)

Tue, 9 Feb 2010 13:49:44 CST

AP - A Kansas House committee considered a proposal Tuesday that would eliminate some seldom-used income tax credits and improve efficiency within the Department of Revenue.

Noble Raises Return To Investors « Zacks Investment Research »

Tue, 9 Feb 2010 13:40:19 CST

The Statue of Liberty is one of the most recognizable American icons in the world. And as she towers 305 feet above Ellis Island, what’s Lady Liberty wearing? Copper - 60,000 pounds of it. Clearly, copper’s big in art. It’s also a key metal that keeps the world economy humming. Copper consumption has grown ...

Forex Trading: EURUSD Quieting Down As The Fireworks Of Midday Have The Market Shell Shocked « Greg Michalowski »

Tue, 9 Feb 2010 13:39:59 CST

Following solid fourth quarter results, the Board of Directors of Switzerland-based Noble Corporation (NE) has approved a return of capital to shareholders. The company will return total 1.08 Swiss francs (CHF) per share − approximately US$1 − including a special one-time payout of 0.56 CHF (approximately 52 cents). Distribution to shareholders in the form of ...

MWIV Targets UK, Raises Guidance « Zacks Investment Research »

Tue, 9 Feb 2010 13:25:21 CST

The EURUSD went up and tested the 200 bar MA at the 1.3840 level and was trading  within 10 pips of the high when the German denial of the Greece debt bailout surfaced, forcing the price back lower in an instant.  The price plunged stopped at 1.3756.  Right below, stood the 38.2% retracement of the move ...

Switched Digital Video Is Thriving « Zacks Investment Research »

Tue, 9 Feb 2010 13:10:54 CST

Switched Digital Video (SDV) technology is likely to boom in the near future as more and more large cable MSOs (multi-service operators) in the U.S. are gradually moving towards overall services convergence. SDV technology distributes digital video content through cable network in a cost-effective manner so that additional uses can be made using the free bandwidth. Cable MSOs ...

Switched Digital Video Thriving « Zacks Investment Research »

Tue, 9 Feb 2010 13:10:54 CST

MWI Veterinary Supply (MWIV) is looking to expand its presence in the international market. Recently, the company acquired UK based Centaur Services Limited, an animal health products supplier, for approximately $47 million. Centaur, with a distribution center in Somerset, had revenues of GBP 140 million (approximately $220 million) in the full year, 2009.   Following the acquisition, ...

Six Ways To Profit From The Rebound In Luxury Spending « Money Morning »

Tue, 9 Feb 2010 13:01:34 CST

The Switched Digital Video (SDV) technology is likely to boom in near future as more and more large cable MSOs in the U.S. are gradually moving towards overall services convergence. SDV technology distributes digital video content through cable network in a cost-effective manner so that additional uses can be made using the free bandwidth. Cable ...

Bubbles Greenspan And The Significance Of Dow 10,000 « Daily Reckoning »

Tue, 9 Feb 2010 13:00:10 CST

If the rich truly have gotten richer during the current financial unpleasantness - as some pundits allege - members of the moneyed set have been smart enough to avoid flaunting their new wealth with a rash of high-end purchases. Lately, however, this seems to be changing: The luxury markets led a January surge in the retail ...

Grow Your Investments With The Fertilizer Industry « Tony D’Altorio »

Tue, 9 Feb 2010 12:58:19 CST

A moment of silence, please, for our fallen comrade, the Dow Jones Industrial Average… Yes, it’s true; the beleaguered index fell through 10,000 yesterday to finish the trading session below where it stood last November. But yesterday was not the first time the Dow ever fell below 10,000. In fact, it was the 28th time since ...

Forex: EUR/USD holds below 1.3800

Tue, 9 Feb 2010 12:57:00 CST

FXstreet.com (Córdoba) – The Pound is consolidating important gains despite moving away from the...

For more information, read our latest forex news.

Boeing Progressing On 747-8 « Zacks Investment Research »

Tue, 9 Feb 2010 12:55:05 CST

Last year, the financial world had plenty to say about biotech mergers, and the Kraft-Cadbury deal took up its fair share of headlines into this year. But nobody has said much of anything about the recent merger and acquisition frenzy in the fertilizer industry. The thing is, they should. Companies already within the sector – including Agrium ...

These “PIIGS” Aren’t Flying… But Here’s An Investment That Will « Investment U »

Tue, 9 Feb 2010 12:44:25 CST

Boeing Company (BA) successfully completed the first test flight of its long-in-the-making 747-8 Freighter. The 747-8 Freighter is the new, high-capacity 747 that brings the benefits of low operating costs and best economics in any freighter to cargo operators. The 747-8 is powered by four General Electric Company’s (GE) GEnx-2B engines. The airplane is 250 ...

Atmel Beats Expectations « Zacks Investment Research »

Tue, 9 Feb 2010 12:40:05 CST

Tuesday, February 9, 2010: Issue #1193 Spending: Out of control… Budget deficits: Surging… Real estate: Sinking like a rock… Welcome to America, right? Well, yes. But no. I’m actually talking about the so-called “PIIGS” – Portugal, Ireland, Italy, Greece and Spain. Back in December, I headed to Baltimore to give an interview about the trouble facing these countries ...

Forex: USD/JPY finds support at 89.30

Tue, 9 Feb 2010 12:39:00 CST

FXstreet.com (Córdoba) – EUR/USD is now relatively steady after jumping 150 pips and pulling back...

For more information, read our latest forex news.

Aeropostale Lifts Guidance « Zacks Investment Research »

Tue, 9 Feb 2010 12:22:13 CST

Atmel Corporation (ATML) reported revenues of $343.6 million in the fourth quarter of 2009, up 8% sequentially and up 3% year over year and beats management’s expectations. The growth in revenues was driven primarily by improved demand from the industrial, communications, computing, and energy marketplaces.   Microcontroller revenues grew 16% sequentially to $139 million. 8- and 32-bit ...

Bailing Out A Welfare State: The California-Greece Debate « Daily Reckoning »

Tue, 9 Feb 2010 12:10:35 CST

Aeropostale Inc. (ARO) – a specialty retailer of casual apparel and accessories, targeting children, young men and women – recently raised its fourth quarter 2009 earnings outlook.   The mall-based retailer now expects fourth-quarter earnings in the range of $1.41 to $1.42 per share, up from its previous view of $1.33 to $1.34, which reflects an increase ...

Video: Market Movers: KO, BGP, TWX, APD, GME « NYFP »

Tue, 9 Feb 2010 12:06:40 CST

Trichet to Greece: Drop Dead! Obama to California: Uh… Yesterday, stocks lost 103 points on the Dow. This looked like a confirmation to us. The stock market appears to have begun its next and final phase… AP seemed to think so too: “Stock investors see threats from all directions,” said the headline. We didn’t bother to read the article. We ...

Label Expansion For AZN Drug « Zacks Investment Research »

Tue, 9 Feb 2010 12:05:39 CST

The latest news and information on U.S. stocks that are moving the market.

Video: Risk Appetite Rises On European Debt Assistance « NYFP »

Tue, 9 Feb 2010 12:02:47 CST

AstraZeneca (AZN) received approval from the US Food and Drug Administration (FDA) for expanded use of one of its key drugs, Crestor (rosuvastatin calcium). The drug can be used to treat patients with normal cholesterol levels but with increased risk of cardiovascular disease. Earlier, in December 2009, Crestor received a positive opinion from the Endocrinologic ...

4 Reasons To Mind The Copper ETF Rally « Tom Lydon »

Tue, 9 Feb 2010 12:01:09 CST

Higher-yielding currencies received a boost this following a slide in US wholesale inventories & growing specualition European officials will assist Greece with its debt situation.

Money Supply Data Reveals “New Major Dip” Ahead « Daily Reckoning »

Tue, 9 Feb 2010 11:56:17 CST

Copper prices have hit their lowest point since Oct. 19, and are 20% below this year’s high price. Enter the bargain hunters, out buying everything from copper exchange traded notes (ETNs) to the physical metal. Why is copper on such a tear? Bargain Hunting. As copper prices have evened out to lower levels, the case for demand ...

Cousins Properties’ FFO Plummets « Zacks Investment Research »

Tue, 9 Feb 2010 11:50:43 CST

Trillions of dollars have been spent on US stimulus, and like all activities — the good, the bad, and the extremely dubious — it must eventually, necessarily come to an end. This is true if for no other reason than it’s simply too expensive to support. Heck, even the Brits have ended their version of ...

Forex: EUR/USD tests 1.3840 and falls to 1.3780 again

Tue, 9 Feb 2010 11:48:00 CST

FXstreet.com (Córdoba) – The Dollar found support at 89.30 against the Yen and after rumors over...

For more information, read our latest forex news.

Get in the Mood to Talk Money (The Motley Fool)

Tue, 9 Feb 2010 11:47:59 CST

Reuters - MetLife Inc plans to pay American International Group Inc in stock and cash for American Life Insurance Co (Alico), as the two sides negotiate what could be a roughly $15 billion deal, a source familiar with the matter said on Tuesday.

American Capital Earnings Surge « Zacks Investment Research »

Tue, 9 Feb 2010 11:34:36 CST

Cousins Properties Inc. (CUZ), a real estate investment trust (REIT), reported dismal fourth quarter 2009 results, with FFO (fund from operations) of $7.3 million or 7 cents per share, compared to $10.2 million or 20 cents per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, ...

How to Make Your Insurer Pay (The Motley Fool)

Tue, 9 Feb 2010 11:34:20 CST

The Motley Fool - In the mood for a money talk? Yeah, we know. It's hardly on the top of anyone's list. But the task does fall somewhere between teaching the kids the birds 'n' bees and remembering to give the dog its heartworm pill.

Forex Trading: GBPUSD Breaks Above 100 Hour MA. EURUSD Tests 200 Hour MA « Greg Michalowski »

Tue, 9 Feb 2010 11:26:30 CST

American Capital Agency Corp. (AGNC), a real estate investment trust (REIT) that focuses on investments in mortgage pass-through securities and collateralized mortgage obligations (CMOs), reported strong fourth quarter 2009 results despite challenging market conditions.

 The company reported earnings of $1.79 per share during the quarter, compared to 73 cents in the year-earlier quarter, with an annualized ...

Forex: GBP/USD breaks above 1.5700 on rumors about Greek aid

Tue, 9 Feb 2010 11:19:00 CST

FXstreet.com (Barcelona) - The Euro has jumped 150 pips in the last hour against the Dollar to test...

For more information, read our latest forex news.

BioMarin Planning To Expand « Zacks Investment Research »

Tue, 9 Feb 2010 11:18:51 CST

EURUSD The EURUSD has 200 hour MA at the 1.3841 level. A break clears the way for a move to 1.3858 and then 1.3965. GBPUSD GBPUSD  has support at 1.5710 where 100 hour MA is found and resistance at 1.5737 where 38.2% is found. Longer term, a break higher could see the price move toward the 1.5864 level where ...

Dell To Acquire Exanet « Zacks Investment Research »

Tue, 9 Feb 2010 11:03:40 CST

BioMarin Pharmaceutical Inc. (BMRN) announced recently that it will purchase the privately-held drug discovery and early stage development company LEAD Therapeutics. LEAD is developing LT-673, an orally available poly (ADP-ribose) polymerase (PARP) inhibitor for treating patients suffering from rare, genetically defined cancers. The stock purchase agreement requires BioMarin to make an upfront payment of $18 ...

Forex Trading: GBPUSD Moves Higher In Sympathy With Bailout Talk « Greg Michalowski »

Tue, 9 Feb 2010 11:01:49 CST

World’s third largest computer maker Dell Inc. (DELL) has initiated the process to acquire the assets of an Israeli storage company for a consideration of $12 million, a month after the company went into receivership. The final settlement is yet to be completed and Dell is currently negotiating in an Israeli court to buy Exanet ...

Forex: USD/CHF sets fresh 3-day low at 1.0625

Tue, 9 Feb 2010 10:57:00 CST

FXstreet.com (Barcelona) - The Sterling is trading higher right now against the Greenback on...

For more information, read our latest forex news.

Forex: EUR/USD rises above 1.3800

Tue, 9 Feb 2010 10:56:00 CST

FXstreet.com (Barcelona) - The USD/CHF has been steadily dropping from an early high at 1.0746,...

For more information, read our latest forex news.

Initiating Spherix: Outperform « Zacks Investment Research »

Tue, 9 Feb 2010 10:51:01 CST

The 1.5689 level is the 38.2% retracement level of the 2009 high to low range. The 1.5706 level is the low from October 2009. The market should find resistance against these levels. However, of more significance may be the break of the range that has put a strangle on the GBPUSD for the last two ...

BofA spent $1.18M lobbying government in 4Q (AP)

Tue, 9 Feb 2010 10:49:29 CST

The Motley Fool - When disaster hits your home, it pays to know whose side your insurance company is on. If insurance companies are to be believed, "you're in good hands" -- they'll treat you "like a good neighbor."

CFSG Wins $92M Contract « Zacks Investment Research »

Tue, 9 Feb 2010 10:48:32 CST

We are initiating coverage of Spherix, Inc. (SPEX) with an Outperform rating and price target of $3.50 per share. We are optimistic about D-tagatose, a functional sweetener and a naturally occurring L-epimer of D-Fructose currently under phase III development for the treatment of type 2 diabetes. D-tagatose, or Naturlose as it is branded, was originally developed ...

Stop Deficit Spending. Save The Credit Rating. « Daily Reckoning »

Tue, 9 Feb 2010 10:39:56 CST

China Fire & Security Group Inc. (CFSG) has signed a total solution contract with Wuhan Iron and Steel Corp. (WISCO) for the Fire Protection Retrofitting Project. WISCO is one of the top three iron and steel companies in China and receives strong government support in accordance with the Iron & Steel Revitalization Scheme.  The total value ...

Forex Trading: Eurozone Source On Wires Regarding Greece. EURUSD Moves Sharply Higher « Greg Michalowski »

Tue, 9 Feb 2010 10:35:32 CST

Front and center this morning, the non-dollar currencies have seen some healing… Not much, but some… But these mini-rallies are on tenterhooks, folks; they can be reversed in a New York Minute… And, now that I look back at the screens, that’s exactly what’s happening! UGH! These turn-arounds are beginning to give me a rash! The ...

Positive Results On Amgen Drug « Zacks Investment Research »

Tue, 9 Feb 2010 10:33:56 CST

Eurozone officials have agreed in principal to help the Greece according to a senior German coalition source. The most likely source of help would be bi-lateral help. The support would be given on the back of clear budget cutting … [visit site to read more]

Forex: EUR/USD ticks down to test 1.3710 support

Tue, 9 Feb 2010 10:29:00 CST

FXstreet.com (Córdoba) – The Euro is rising further against the Dollar. EUR/USD is broke above...

For more information, read our latest forex news.

Video: “Still Optimistic But Traders Worry Me” « NYFP »

Tue, 9 Feb 2010 10:21:50 CST

Amgen Inc. (AMGN) received a boost recently when the company announced positive results from a pivotal head-to-head phase III study that was conducted with Amgen’s main pipeline candidate, denosumab. The study compared denosumab with Novartis’ (NVS) Zometa in the treatment of bone metastases in 1,901 patients with advanced prostate cancer.  Amgen announced that denosumab met the ...

Forex Trading: AUDUSD Moving Toward Support At The 100 Hour MA « Greg Michalowski »

Tue, 9 Feb 2010 10:21:16 CST

Despite the Dow's recent slide, today has seen an early market rebound. According to floor trader David Henderson, this is a reason for continued optimism but one must contiue to watch traders, which makes him worry.

Forex: GBP/USD rebounds at 1.5650 and falls below 1.5600

Tue, 9 Feb 2010 10:21:00 CST

FXstreet.com (Barcelona) - The euro has seen its recent upwards push capped at the 1.3773 daily...

For more information, read our latest forex news.

Andersons Beats Estimates « Zacks Investment Research »

Tue, 9 Feb 2010 10:18:49 CST

The currently level comes in at … [visit site to read more]

Forex: USD/JPY down from 89.80 high, "vulnerable" say analysts

Tue, 9 Feb 2010 10:08:00 CST

FXstreet.com (Córdoba) – Pound was rejected from level above 1.5640. GBP/USD rose to 1.5651...

For more information, read our latest forex news.

Electronic Arts’ Net Falls « Zacks Investment Research »

Tue, 9 Feb 2010 10:03:39 CST

The Andersons, Inc. (ANDE) reported fourth-quarter earnings of 88 cents per share, well above the Zacks Consensus Estimate of 42 cents and a significant improvement compared to a net loss of $1.84 per share in the fourth quarter of 2008. The company’s Grain and Ethanol group posted a strong growth in the reported quarter.  Moreover, the ...

Video: NYSE Opening Bell Market Monitor: KO, PHM « NYFP »

Tue, 9 Feb 2010 10:01:35 CST

Electronic Arts Inc. (ERTS) reported third-quarter of 2010 results with a steep fall in net earnings and revenue due to weakness in its EA business, dismal holiday sales for the overall packaged goods sector in Europe and product mix shifts to lower-margin distribution business in North America .  Despite higher cost controls, delay in launching new ...

Forex Trading: GBPUSD Moves Back To Midpoint Of The Two Day Trading Range « Greg Michalowski »

Tue, 9 Feb 2010 9:58:25 CST

The latest in news, commentary, and information on what's moving the US equities markets.

Spot Gold rallies past $1,074, hits$1,079 high as Dollar eases

Tue, 9 Feb 2010 9:53:00 CST

FXstreet.com (Barcelona) - The USD/JPY has slid downwards from its two-day high at 89.80 in recent...

For more information, read our latest forex news.

The Sovereign Debt Crisis Is A Perfect Storm For Gold « Jordan Roy-Byrne »

Tue, 9 Feb 2010 9:50:31 CST

The GBPUSD has moved down to the midpoint of the two day range as the pair continues its up and down consolidation.  The 100 and 200 bar MA on the 5 minute chart are converged at the 1.5604 level and these levels are also being tested.  A break lower should target the low of the range.  Needless ...

Infineon Swings To Profit « Zacks Investment Research »

Tue, 9 Feb 2010 9:48:59 CST

Needless to say, Thursday was nothing short of an orgasmic day for Gold bears and Dollar bulls. The precious metals complex crumbled along with the Euro, while the greenback was higher. In fact, it was such a bad day that Gold officially lost its safe-haven status, according to CNBC[1]. This was also noted by Elliot ...

Video: Coca-Cola Pours Out 4Q Profit « NYFP »

Tue, 9 Feb 2010 9:46:55 CST

Infineon Technologies AG (IFNNY) reported that net income from continuing operations increased almost 5 times compared to the last quarter’s levels to €66 million ($97.5 million) or €0.067 per share (10 cents per share). Revenues for the first quarter came in at €941 million, a significant increase of 10% compared to the prior quarter, and ...

Video: Another Mixed Session In Asia « NYFP »

Tue, 9 Feb 2010 9:46:32 CST

The Coca-Cola Company announced Tuesday that it posted a significant 4Q profit led by a surge in global beverage sales.

Forex: GBP/JPY set for "bigger correction move" - Salord

Tue, 9 Feb 2010 9:41:00 CST

FXstreet.com (Barcelona) - Spot gold has broken upwards from the current week's trading range,...

For more information, read our latest forex news.

Three International Bond ETFs For Europe’s Bounceback « Michael Johnston »

Tue, 9 Feb 2010 9:37:28 CST

Them ajor Asian/Pacific markets traded mixed this session following big gains in both the Hang Seng & Sensex.

Forex Trading: USDCHF Tracking The 100 Bar MA Today On The 5 Minute. Below 100 Hour MA « Greg Michalowski »

Tue, 9 Feb 2010 9:35:29 CST

Investors have historically embraced international diversification in their portfolios as a way to smooth out volatility and reduce overall risk. But the last two years have shown that the benefits of such diversification aren’t what they once were. A meltdown that began in the U.S. mortgage market quickly spread throughout the world, sparking countless complaints ...

Terremark Loss Exceeds Estimates « Zacks Investment Research »

Tue, 9 Feb 2010 9:34:01 CST

The USDCHF has stepped lower today using the 100 bar MA on the 5 minute chart as a level to sell against (see blue line in the chart above).  The current level comes in at the 1.0684 level and this level will be watched - especially since the price has had a higher high off ...

BJ Services Slips « Zacks Investment Research »

Tue, 9 Feb 2010 9:18:35 CST

Terremark Worldwide (TMRK), a leading global provider of IT infrastructure solutions, announced results for the third quarter of fiscal 2010 with a loss per share of 13 cents exceeding the Zacks Consensus Estimate of loss of 8 cents. Net loss of $8.3 million for the quarter, however, represents an improvement from a net loss of ...

Australian Dollar: Continuation Of The Rebound « Trading Central »

Tue, 9 Feb 2010 9:17:49 CST

BJ Services Company (BJS) reported its fiscal first quarter (ended December 31, 2009) loss of 3 cents per share, compared to the Zacks Consensus Estimate of a profit of 5 cents and year-earlier quarter earnings of 56 cents. Revenue for the quarter decreased 34% year-over-year and increased 6% sequentially to $931.5 million.   BJ Services missed the ...

Canadian Dollar: Continuation Of The Rebound « Trading Central »

Tue, 9 Feb 2010 9:17:46 CST

Update on supports and resistances.

Wheat Woes « OptionsXpress »

Tue, 9 Feb 2010 9:17:25 CST

Update on supports and resistances.

US markets open on bid tone as Greece's concerns ease; Dollar ticks down

Tue, 9 Feb 2010 9:07:00 CST

FXstreet.com (Barcelona) - Up on the day from Friday's 11-month low, the euro is poised for a major...

For more information, read our latest forex news.

US wholesales inventories shrink, beating forecasts

Tue, 9 Feb 2010 9:04:00 CST

FXstreet.com (Barcelona) - US markets have opened Tuesday's session on a strong note as risk...

For more information, read our latest forex news.

US Wholesale Inventories decline 0.8% in Dec

Tue, 9 Feb 2010 9:01:51 CST

FXstreet.com (Barcelona) - US wholesale inventories unexpectedly decreased by -0.8% in December of...

For more information, read our latest forex news.

BJ’s Wholesale Sales Rise « Zacks Investment Research »

Tue, 9 Feb 2010 8:59:34 CST

Fundamentals Grain futures are higher this morning, largely due to traders covering shorts and decreasing position size in light of the USDA’s supply and demand report. There is not expected to be a bullish surprise in the report, but the unpredictability of the USDA’s estimates is always on the minds of traders. Wheat futures have had ...

Morning News Notes: 2/9/2010 « Guy Lerner »

Tue, 9 Feb 2010 8:57:00 CST

BJ’s Wholesale Club Inc. (BJ), a leading warehouse club operator in the United States, recently reported sales for the four-week period ended January 30, 2010. Sales for the month jumped 13% to $742.6 million from $656.9 million reported in the same month last year.   Comparable club sales rose 8.4% for January 2010 versus a decline of ...

NYSE Beats On Lower Expenses « Zacks Investment Research »

Tue, 9 Feb 2010 8:47:41 CST

The “Morning News Notes” as prepared by TL… Greece, Fed exit strategy, and Monday’s performance by sector. Just click on the link or the coffee mug below. “Morning News Notes”: February 9, … [visit site to read more]

Loss Widens At Unisys « Zacks Investment Research »

Tue, 9 Feb 2010 8:47:33 CST

NYSE Euronext, Inc.’s (NYX) fourth quarter operating earnings per share of 58 cents came in decisively ahead of the Zacks Consensus Estimate of 48 cents. Earnings were also ahead of the 52 cents per share recorded in the year-ago quarter and 53 cents in the prior quarter. Results reflect increasing momentum in the business model and ...

Forex Trading: AUDUSD Boosted Higher Today. Watching 0.8733 And 0.8714 « Greg Michalowski »

Tue, 9 Feb 2010 8:32:14 CST

Unisys Corporation (UIS) reported revenues of $1.21 billion in the fourth quarter of 2009, down 5% year over year. Foreign exchange rates had an approximately 5 percentage-point positive impact on revenue in the quarter. Revenue in the United States declined 14% to $495 million. Revenue in international markets increased 1% to $715 million. On a segment basis, ...

Vulcan Materials’ Loss Widens « Zacks Investment Research »

Tue, 9 Feb 2010 8:30:07 CST

  Comments from RBA Stevens earlier today whereby he commented that rates may need to be raised to stop bubbles, sent the AUDUSD higher today.  The price was able to push above the 100 hour MA (currently at 0.8714) in the NY session, but has come off a bit as the dollar corrects on the EU/Greece on ...

Swiss Franc: Continuation Of The Rebound « Trading Central »

Tue, 9 Feb 2010 8:18:23 CST

Vulcan Materials Company (VMC) reported loss from continuing operations of 10 cents per share, below the Zacks Consensus Estimate of a break-even in the fourth quarter of 2009. In the fourth quarter, aggregates shipments declined 23% year over year, reducing earnings $0.57 per diluted share. Aggregates pricing increased 5%. Aggregate cash fixed costs decreased 8% compared ...

Japanese Yen: The Upside Prevails « Trading Central »

Tue, 9 Feb 2010 8:18:19 CST

Update on supports and resistances.

British Pound: The Upside Prevails « Trading Central »

Tue, 9 Feb 2010 8:18:17 CST

Update on supports and resistances.

Euro: The Upside Prevails « Trading Central »

Tue, 9 Feb 2010 8:18:16 CST

Update on supports and resistances.

Stock Market News Briefs: Bank Of America Corporation, Coventry Health Care, Inc., HSBC Holdings Plc, Internationa Flavors & Fragrances, Inc., Molson Coors Brewing Company, Monsanto Company, NYSE Euronext, Inc., SAP Aktiengesellschaft Systeme, Anwendungen, Produ, Verizon Communications Inc., Biogen Idec Inc « Zacks Investment Research »

Tue, 9 Feb 2010 8:16:51 CST

Update on supports and resistances.

ADC Telecom Profit Tops « Zacks Investment Research »

Tue, 9 Feb 2010 8:15:32 CST

 Biogen Idec (BIIB) posted better-than-estimated fourth quarter results of $1.20, beating Zacks estimates of $1.05, on inline revenues of $1.1 billion.  The company said it sees full year earnings of $4.50 a share  International Flavors and Fragrances (IFF) reported fourth quarter results of 63 cents, three cents better than Zacks estimates, on sales of $586 million, ...

Nissan Results Improve « Zacks Investment Research »

Tue, 9 Feb 2010 8:00:00 CST

Yesterday, after market close, ADC Telecommunications Inc. (ADCT) declared financial results for the first quarter of fiscal 2010. Due to a change in the company’s reporting fiscal year, management has compared results for the three month period ended December 31, 2009 with the proforma results of its comparable quarters.   On a GAAP basis, net income in ...

Forex: EUR/USD recovery extends to 1.3770 session high

Tue, 9 Feb 2010 7:54:00 CST

FXstreet.com (Barcelona) For more information, read our latest forex news.

For more information, read our latest forex news.

Nasdaq Beats On Low Charges « Zacks Investment Research »

Tue, 9 Feb 2010 7:45:14 CST

Nissan Motor Co. (NSANY) has revealed a net income of ¥45 billion ($480 million) for the third quarter of its fiscal ended December 31, 2009, in sharp contrast to a loss of ¥83.2 billion ($810 million) in the same period a year ago. The improvement was attributable to additional sales driven by scrapping incentives in major ...

Oil Prices: Upside limited by $73.94 resistance - Oil and Gold

Tue, 9 Feb 2010 7:42:00 CST

FXstreet.com (Barcelona) - The Euro continues trending higher today and extending its recovery from...

For more information, read our latest forex news.

Hartford Beats, Swings To Net Gain « Zacks Investment Research »

Tue, 9 Feb 2010 7:30:31 CST

Nasdaq OMX Group Inc.’s (NDAQ) fourth quarter operating earnings per share of 46 cents surpassed the Zacks Consensus Estimate of 44 cents and prior quarter earnings of 42 cents. However, operating earnings declined substantially from 52 cents reported in the prior-year quarter. Total operating earnings, on non-GAAP basis, were $99 million, up from $89 million ...

Forex Trading: USDJPY Moves Higher. Watch The 100 Bar Moving Average On The 5 Minute Chart « Greg Michalowski »

Tue, 9 Feb 2010 7:19:52 CST

Hartford Financial Services’ (HIG) fourth quarter core earnings came in at $1.51 per share, substantially ahead of the Zacks Consensus Estimate of $1.40. This also compares favorably with the core loss of 72 cents in the year-ago quarter. The upside was primarily attributable to stability in Hartford’s life and property and casualty businesses. Also, Hartford ended ...

Sovereign Risk And The Price Of Oil « Dian L. Chu »

Tue, 9 Feb 2010 7:01:40 CST

The USDJPY was consolidating in a narrow trading range and at the 89.18 to 89.45 level yesterday. The 100 and 200 bar moving averages converged with the price and this eventually leads to a move away from the consolidation area.  The price has moved higher albeit at a modest pace as the flight into the ...

Forex Trading: EURUSD Moves Above The 100 Hour MA And 38.2% Retracement Level On Hourly « Greg Michalowski »

Tue, 9 Feb 2010 6:58:46 CST

European and U.S. stock markets have taken a hit recently as spooked investors from Shanghai to Sao Paolo were fleeing risky assets amid concern that the financial crisis in Portugal and Greece could spread through the euro zone with vast implications for the fate of the fragile global economic recovery. (Fig. 1) Liquidate & Buy Dollar ...

Forex: EUR/USD breaks 1.3742 and jumps to daily highs

Tue, 9 Feb 2010 6:56:00 CST

FXstreet.com (Barcelona) - Nymex crude oil prices have depreciated about $9 since the $78 high on...

For more information, read our latest forex news.

Forex Trading: GBPUSD Continues In Its Consolidation Up And Down Range. « Greg Michalowski »

Tue, 9 Feb 2010 6:48:12 CST

The 100 hour MA comes in at the 1.3753 level. The 38.2% retracement comes in at the 1.3753 level as well. The break above triggered stop buying. This pushed the price up to the 1.3773 level. Now the price should have support at the 1.3753 level.    A move back below the 1.5744 level (the prior high for ...

Forex: USD/CAD rejects 1.0725 and falls to daily lows

Tue, 9 Feb 2010 6:36:00 CST

FXstreet.com (Barcelona) - Euro has jumped against the Dollar in the last hour after finding...

For more information, read our latest forex news.

Forex: USD/JPY breaks past 89.55, and reaches 89.75 high

Tue, 9 Feb 2010 6:27:00 CST

FXstreet.com (Barcelona) - The Dollar's recovery against the Loonie from intra-day low at 1.0675...

For more information, read our latest forex news.

New Business Win For Callidus « Zacks Investment Research »

Tue, 9 Feb 2010 6:23:33 CST

The GBPUSD has now consolidated the move lower for nearly 2 days now.  The price has a floor at the 1.5533/50 region and a ceiling at the 1.5648-59 area.  The consolidation comes after the most recent trend move which saw the GBPUSD move down from a high of 1.6068 to the low at 1.5533. The ...

Callidus Partners With Seven Seas « Zacks Investment Research »

Tue, 9 Feb 2010 6:18:05 CST

Callidus Software Inc. (CALD) announced that Philips Healthcare selected Callidus Monaco’s Objective Management solution to develop and manage its salesforce. The agreement was signed in the fourth quarter of 2009. Under the agreement, Philips Healthcare will use this application to deploy and manage strategic sales objectives for its sales representatives in the United States. Companies use ...

Gold Will One Day Rise Again « Justice Litle »

Tue, 9 Feb 2010 5:50:23 CST

Callidus Software (CALD) recently announced a partnership with Seven Seas Technologies, a leading provider of integrated business and technology solutions. Under the agreement, Seven Seas Technologies will resell, implement and support Callidus Software’s sales performance management solutions in Africa. Callidus expects to expand its global presence in under penetrated regions of Africa by partnering with Seven Seas ...

Forex: EUR/USD, down from 1.3745 high, as rumours about Trichet's departure are refuted

Tue, 9 Feb 2010 5:50:00 CST

FXstreet.com (Barcelona) - The Dollar has continued crawling higher against the Yen, and, from a...

For more information, read our latest forex news.

Greek News Impacts Wall Street

Tue, 9 Feb 2010 5:36:27 CST

The tick-for-pip-for-point moves in the highly correlated global markets have Oil-S/P Futures-Dollar Index locked in a pattern that none can break free from. As risk is bought equities move up and the dollar moves down, and vice versa. This was seen again as news broke the the Greek budget deficit...

Forex: EUR/GBP stretches to 0.8815, 3-week high

Tue, 9 Feb 2010 5:25:00 CST

FXstreet.com (Barcelona) - Euro rally from 1.3640 session low in Asian trade has been capped at...

For more information, read our latest forex news.

The Decline In The Price Of Gold Is Still Young « Derek Blain »

Tue, 9 Feb 2010 5:20:50 CST

Does former SEC Chairman Arthur Levitt read Taipan Daily? How about Bloomberg columnist Jonathan Weil? It’s probably a big fat “no” for both, but you be the judge. In a Feb. 4 column, “Obama’s $6.3 Trillion Scam is America’s Shame,” Weil wrote the following (underscore emphasis mine): The White House is already forecasting a $1.3 trillion budget ...

Forex: GBP/USD testing 1.5565 session low

Tue, 9 Feb 2010 5:11:00 CST

FXstreet.com (Barcelona) - The Euro has advanced one step forward on its recovery from Friday's...

For more information, read our latest forex news.

Metals strengthen in euro's wake

Tue, 9 Feb 2010 5:02:00 CST

FXstreet.com (Barcelona) - Pound's strength seen on Asian trade and early European session has...

For more information, read our latest forex news.

Forex: AUD/USD has formed a major top and eyes 0.8265 - Commerzbank

Tue, 9 Feb 2010 4:58:00 CST

FXstreet.com (Barcelona) - Metals have followed the euro on its slight rebound after the common...

For more information, read our latest forex news.

USD Lower on Rumor of a €20 Billion Greek Bailout Plan

Tue, 9 Feb 2010 4:39:47 CST

USD traded lower Tuesday pressured by Greek rescue speculation. A report that ECB President Trichet would return one day early from a BIS meeting in Australia to attend an EU Council Meeting fueled speculation that a Greek bailout plan may be soon announced. The EUR traded at an eight-month low...

Forex Trading Review For 09/02/2010 « UFXBank »

Tue, 9 Feb 2010 4:30:35 CST

It seemed the gold bugs are out in full force over the weekend, calling “the bottom” on the gold price.  We posted a follow-up chart at the end of the day to all those saying that the “high volume” toward Friday’s close was indicative of a major turning point. However, when the rest of the week ...

CIT Group Hires Former Merrill Chief John Thain As New CEO « Money Morning »

Tue, 9 Feb 2010 4:11:53 CST

USD Dollar (USD) The Dollar has been trading sideways versus most majors due to lack of major economic data. NASDAQ weakened by -0.7% and Dow Jones closed beneath 10,000 for the first time in 3 months with -1.04%. Crude Oil gained by 0.69% closing at 71.68$ a barrel. Gold (XAU) weakened slightly closing at 1,062.5$ an ...

Forex: Pound drops against Dollar and Euro, weighed by trade deficit

Tue, 9 Feb 2010 4:09:00 CST

FXstreet.com (Barcelona) - The Aussie has been retreating from 0.9300 area on Jan 10, reaching...

For more information, read our latest forex news.

Fitch Sees Risk Of Sovereign Crisis Contagion 'Exaggerated'

Tue, 9 Feb 2010 3:55:09 CST

EURUSD has continued to recover from last week's rout, with the short term uptrend off Friday's 1.3586 lows providing the platform for a test of the 1.3750 pivot level, and an earlier high of 1.3774. The EUR and broader risk sentiment has been buoyed by the news that ECB President...

European markets pick up after negative opening; Euro attempting recovery

Tue, 9 Feb 2010 3:53:00 CST

FXstreet.com (Barcelona) - The Pound has extended its pullback against the Dollar, while the...

For more information, read our latest forex news.

US Market Update

Tue, 9 Feb 2010 3:52:15 CST

Elevated risk appetite kept the greenback soft during the New York morning while the yen was off its worst levels. The EU meeting this week has provided the recent spat of price movements. With plenty of European officials offering words of support for Greece's reform efforts this morning and hopes...

UK trade deficit unexpectedly jumps to highest level since Jan 09

Tue, 9 Feb 2010 3:36:00 CST

FXstreet.com (Barcelona) - European markets have turned up on early Tuesday's session after a...

For more information, read our latest forex news.

UK Dec Total Trade deficit rises to £3.3B from £2.9B

Tue, 9 Feb 2010 3:34:09 CST

FXstreet.com (Barcelona) - The UK goods trade deficit widened to £7.3 billion in December of last...

For more information, read our latest forex news.

UK Goods Trade deficit increases to £7.3B in Dec from £6.8B

Tue, 9 Feb 2010 3:30:48 CST

FXstreet.com (Barcelona) For more information, read our latest forex news.

For more information, read our latest forex news.

Forex Trading: Gbp/Usd Trading Below 1.5600 « Greg Michalowski »

Tue, 9 Feb 2010 3:17:48 CST

In a move that unites two prominent casualties of the financial crisis, CIT Group Inc. (CIT) ended a prolonged search by naming John Thain, the former chief of Merrill Lynch & Co., as its new chairman and chief executive officer. Thain, who left Bank of America Corp. (BAC) 13 months ago amid controversy ...

The Rise And Fall Of Oil Prices « Ian Wyatt »

Tue, 9 Feb 2010 3:01:06 CST

As stated in an earlier post, Gbp/Usd found resistance up at 1.5650 and has subsequently come off to trade below 1.5600. The pair has traded down to 1.5582. If this move can continue we should see some support around 1.5565-70 level. A break below should bring Gbp/Usd down to 1.5530-40 area. A break back above ...

Spot Gold remains capped below $1,073//4 resistance area

Tue, 9 Feb 2010 3:01:00 CST

FXstreet.com (Barcelona) For more information, read our latest forex news.

For more information, read our latest forex news.

Video: U.S. Magazine Circulation Falls At Newsstands « NYFP »

Tue, 9 Feb 2010 3:00:00 CST

We’re visiting Colombia this Monday to look under the hood of Houston American Energy Group (HUSA), a stock that has run 300% since Small Cap Investor Daily reader Bill H. began watching it in July. This $220 market-cap company owns a stake in several Colombian oil concessions and is one of a small ...

Relief Rally in Equities Fails to Budge Bond Yields

Tue, 9 Feb 2010 2:26:37 CST

You can almost hear an audible sigh of relief echoing around risk managers' desks and that tone is reflected by a positive market sentiment on hopes for a solution to the fiscal problems facing the government of Greece. Given the far more favorable tone to both equity and commodity prices...

Forex: USD/JPY remains negative, look for further losses to 88.25/00 - Commerzbank

Tue, 9 Feb 2010 2:15:00 CST

FXstreet.com (Barcelona) - Gold's prices remain consolidating in a narrow range, capped below...

For more information, read our latest forex news.

Forex: EUR/USD breaks past 1.3720, hits 1.3745 resistance

Tue, 9 Feb 2010 2:03:00 CST

FXstreet.com (Barcelona) - The Dollar has been consolidating above 89.00, even testing the upside,...

For more information, read our latest forex news.

When Will The US Economy Return To Normal? « Larry Doyle »

Tue, 9 Feb 2010 2:01:42 CST

Circulation for U.S. magazines fell by 2.2% in the second half of 2009. The Audit Bureau of Circulations also reported that single-copy sales slipped by 9.1%, in the same period.

Forex: USD/JPY testing range top at 89.55

Tue, 9 Feb 2010 1:46:00 CST

FXstreet.com (Barcelona) - After having attempted four tomes, the Euro has broken through 1.3715/25...

For more information, read our latest forex news.

Currency Currents: Their Words, Not Mine

Tue, 9 Feb 2010 1:42:33 CST

I'd have to agree about the longer-term growth prospects for emerging markets, especially Asia. But in the shorter-term those prospects can be trumped by growing risk. I know, I know - we continue to harp on risk appetite capital flows. But the fact is: risk appetite still matters. And deleveraging...

German CPI dips 0.6% in January and grows 0.8% on year, as expected

Tue, 9 Feb 2010 1:34:00 CST

FXstreet.com (Barcelona) - Dollar decline from 91.00 area found support on Thursday at 88.55 low,...

For more information, read our latest forex news.

Forex: GBP/USD rangebound around 1.5600

Tue, 9 Feb 2010 1:21:00 CST

FXstreet.com (Barcelona) - German Consumer Prices have decreased 0.6% in January, after a 0.8%...

For more information, read our latest forex news.

Stock Picks For Tuesday 9 February: Trinity Industries, CVS Caremark And Applied Materials « Antonio Costa »

Tue, 9 Feb 2010 1:05:23 CST

The question most asked in economic circles is, “How and when will our economy return to normal?” My response is always, “What is normal?” I find it most impactful to explain to people looking to gain a greater understanding of our economy and our markets that the normal economy of the late ’90s through ...

Germany Dec Trade surplus decreases to €16.7B from €17B

Tue, 9 Feb 2010 1:01:43 CST

FXstreet.com (Barcelona) - The Pound has found support at 8-month low 1.5535 on its decline from...

For more information, read our latest forex news.

Greece Is Just A Sideshow Compared To The UK « Brian Kelly »

Tue, 9 Feb 2010 1:01:10 CST

( click to enlarge ) Trinity Industries (TRN) - Contrary to expectations, TRN ruled weak and also moved closer to the stop-loss level of 14.93. Investors may remain invested with a stop-loss at 14.90 (on closing basis) as the stock appears to have the potential to bounce back to the target zone of ...

German Jan CPI declines 0.6% MoM, rises 0.8% YoY

Tue, 9 Feb 2010 1:00:33 CST

FXstreet.com (Barcelona) For more information, read our latest forex news.

For more information, read our latest forex news.

Mutual Funds: Top Diversified Bond Funds « Zacks Investment Research »

Tue, 9 Feb 2010 0:44:32 CST

n our younger years we were quite accomplished at the “Match Game” on Sesame Street - to some we have just hopelessly dated ourselves, to others we hope to have given you a nostalgic boost. Whichever group you find yourself, please indulge us as we revert to times past and play the game once again… German ...

USD Lower Pressured by Greek Rescue Hopes

Tue, 9 Feb 2010 0:30:38 CST

The USD is trading sharply lower with the EUR supported by report that ECB President Trichet was returning home one day early from a BIS meeting, Trichet's early return to attend an EU summit fuels speculation of possible announcement of the plan to rescue Greece and contributes to an uptick...

Trichet Departs Sydney in a Hurry

Tue, 9 Feb 2010 0:18:04 CST

On Tuesday the euro was on the rise after it was revealed that ECB President Trichet was going to leave a central bank meeting in Sydney. His premature departure created a significant amount of speculation that a Thursday EU summit in Brussels had been called to present a bailout for...

Euro As Anchor Of Stability? « Merk Fund »

Tue, 9 Feb 2010 0:01:27 CST

Investors looking for safety of capital as well as a steady income stream often choose bonds over stocks and mutual funds offer a convenient and affordable route of investing in these securities. Diversified bond funds further reduce risk by investing across various sectors. This approach ensures that any negative fluctuation in a sector only has ...

Obomanomics One Year Out « Robert Reich »

Mon, 8 Feb 2010 23:24:18 CST

The world’s attention is on the fiscal malaise in Greece and Portugal. Just a few months ago, policy makers told banks to shore up their balance sheets with more sovereign debt. However, policy makers around the world have since raced to spend money in an attempt to reinvigorate their respective economies, leading to record deficits. ...

Technical Vs. Fundamental Analysis: Which Is More Important In Stock Trading? « Tradesman »

Mon, 8 Feb 2010 23:21:17 CST

Obamanomics suffers from a misunderstanding of what the President is trying to achieve and what he’s up against. Into the breach come Republicans, Tea Partiers, nay-sayers, deficit vultures, and Raging-Dog Democrats, all viewing Obamanomics as more taxes and more spending. That’s nonsense. To see the big picture, keep your eye on three big things. 1. Government ...

Goldman Sachs Readies Its ETF Game « Tom Lydon »

Mon, 8 Feb 2010 23:01:41 CST

It has always been a classic debate between the two camps of stock trader: The fundamentalist and the Technical Chart Analysis Group. Which school of trading is more effective? Firstly, we have to define both terms.Fundamental analysis is the process of looking at a business at the basic or fundamental financial level. This ...

Stock Buy: GSI Commerce, Inc. « Michael Vodicka »

Mon, 8 Feb 2010 23:00:00 CST

lululemon athletica (LULU) topped Wall Street’s expectations for the sixth time in a row on strong top-line growth as well as improving margins. Company Description lululemon athletica is a yoga clothing and equipment company based in Vancouver. Revenues Up 30% On Dec 9 lululemon reported quarterly results that included revenues of $113 million, a 30% increase since last year. ...

Stock Buy: Lululemon Athletica « Zacks Investment Research »

Mon, 8 Feb 2010 23:00:00 CST

Despite being the largest producer of construction aggregates and a leading producer of other construction materials, Vulcan Materials (VMC) faces a challenging environment in the construction industry. The economic crisis, leading to a significant reduction in new home construction, continues to impact its sales volume. Furthermore, the company’s operations are highly susceptible to inclement weather and ...

Bull Of The Day: OPNET Technologies (OPNT) « Zacks Investment Research »

Mon, 8 Feb 2010 23:00:00 CST

RPM International Inc. (RPM) recently posted record net income of $55.9 million for the second fiscal quarter, versus last year’s $41.7 million. Sales slipped 3.5% year-over-year. Company Description RPM International Inc., through its subsidiaries, offers specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM’s industrial products include roofing systems, sealants, corrosion ...

Stock Buy: RPM International Inc. « Zacks Investment Research »

Mon, 8 Feb 2010 23:00:00 CST

Goldman Sachs (GS) wants to get in on the exchange traded fund (ETF) industry. But first, the financial industry giant has launched a mutual fund that holds ETFs covering a range of asset classes. Goldman Sachs launched the Dynamic Allocation Fund, a fund made up of ETFs designed to help investors add wealth by seeking long-term ...

Stock Buy: World Acceptance Corporation « Tracey Ryniec »

Mon, 8 Feb 2010 23:00:00 CST

GSI Commerce, Inc. (GSIC) continues to trade near its 52-week high at $26.10 ahead of the company’s Feb 10, Q4 results. In the meantime, estimates continue to rise, with the next-year estimate up 10 cents in the last 2 months to 26 cents per share, which would represent a return to profitability for the company. Company ...

Bear Of The Day: Vulcan Materials (VMC) « Zacks Investment Research »

Mon, 8 Feb 2010 23:00:00 CST

We are extending our estimates through 2012 fiscal year for Buy-rated OPNET Technologies (OPNT). OPNET reported very good third quarter results due to strong new software license revenue. Gross profit margins were well above expectations. We expect gains in market share to continue. Continued cost controls and the booking of deferred revenue should improve earnings. Software license ...

London Session Recap

Mon, 8 Feb 2010 22:15:01 CST

The news that ECB President Trichet was returning from Australia a day early to attend a scheduled meeting of EU leaders injected hope that a bail-out plan for Greece may become more probable. A bail-out at this point would contradict the rhetoric from ECB officials to date. That said Eurozone...

Interview With Dave McGinn, Author Of “How To Retire Early With No Money” « Arjun Rudra »

Mon, 8 Feb 2010 22:01:15 CST

World Acceptance Corporation (WRLD) recently reported a record fiscal third quarter as loan volumes rose. The stock is cheap. WRLD trades at just 8.6x forward earnings. Company Description World Acceptance provides short-term small loans, medium-term larger loans, credit insurance products and other services to individuals. The company operates 945 offices in 11 states and Mexico. During fiscal 2009, ...

European Market Update

Mon, 8 Feb 2010 21:57:58 CST

The USD and JPY currencies were softer in the European session amid speculation that the ECB would hold an emergency meeting to discuss measures to head off contagion in the Greek debt crisis. Speculation mounted after ECB's Trichet left a meeting with the RBA a day early, which helped market...

Wait For Euro Sell Opportuity

Mon, 8 Feb 2010 21:55:10 CST

The Euro-zone economy will inevitably remain a key short-term focus, especially with a summit due on Thursday. Confidence will remain very fragile in the short term, but any kind of support package for the weaker economies could trigger near-term Euro relief, especially given the number of short positions in the...

Trichet Off To Brussels & Markets In A 'Wait & See' Pattern

Mon, 8 Feb 2010 21:47:10 CST

Markets are still in a hold / consolidation pattern before 1st tier economic data starting Wednesday. However, we are seeing signs of EUR contrarians stepping in and trading on the long side. Markets and media have been lightning fast in jumping on the EU collapse bandwagon and there is speculation...

Rydex Market Timers: Becoming More Bearish « Guy Lerner »

Mon, 8 Feb 2010 21:41:00 CST

Dave McGinn is a journalist with The Globe and Mail Biography: Dave McGinn is a reporter with The Globe and Mail. A professional journalist since 2003, Mr. McGinn has written for the Ottawa Citizen, the National Post and MacLean’s, among other publications. For the February issue of Report On Business Magazine, Mr. ...

Alan Greenspan: U-Shaped Recovery « Larry Doyle »

Mon, 8 Feb 2010 21:01:02 CST

Figure 1 is a daily chart of the S&P500. The indicator in the lower panel measures the ratio of the amount of assets in the Rydex bullish and leveraged funds relative to those funds that are bearish and leveraged. Figure 1. S&P500/ daily/ Rydex Bullish and Leveraged v. Bearish and Leveraged The current value of the indicator ...

Video: The Day Ahead: Earnings Reports « NYFP »

Mon, 8 Feb 2010 21:00:00 CST

Alan Greenspan is certainly not viewed in the same light now as he was during a large part of his tenure as chairman of the Federal Reserve. That said, when the former Fed chair speaks, people do listen. What is he saying now? Greenspan is throwing some cold water on the topic ...

Trichet Leaves Sydney Early

Mon, 8 Feb 2010 20:27:48 CST

FX markets were choppy in the Asian session, with risk appetite see-sawing. The day started with a risk off tone, as Wall Street plunged due to speculation that FOMC Chairman Bernanke could indicate tightening when he testifies in the House on unwinding Fed liquidity programs this week. The USDJPY fell...

German Prices Stagnate In January

Mon, 8 Feb 2010 20:16:29 CST

German prices remained unchanged in January after accelerating in the last quarter of 2009. Inflation shifted from -0.30% in September to 0.00% in October then 0.40% in November reflecting the improvement seen in the economy starting from the second quarter.

Gold Is Showing Signs Of Being Oversold « Frank Holmes »

Mon, 8 Feb 2010 19:50:07 CST

The stories, data, and stocks that may have the greatest impact during the next trading session.

ECB May Delay Its Stimulus Exit Amid Concerns On Greece's Deficit

Mon, 8 Feb 2010 19:36:02 CST

The (ECB) European Central Bank may be forced to cancel the withdrawal of emergency lending measures for the time-being because it could inflame financial market concerns about Greece, Spain and Portugal various economist have stated. Investors are dumping Greece, Spanish and Portuguese assets as their governments struggle to rein in...

Morning Forex Overview

Mon, 8 Feb 2010 19:33:33 CST

The yen fell against high-yielding units in Asia Tuesday as an upturn in Chinese stocks helped reduce risk aversion, prompting investors to buy back riskier currencies such as the euro. Although the European Union is slated to hold a summit on Thursday, traders expect the organization to fail to...

The Silver ETF (SLV) Has Nowhere To Go But Up « David Bettencourt »

Mon, 8 Feb 2010 19:30:29 CST

The U.S. dollar was up last week against the euro out of fear of how debt problems in Greece and elsewhere in Europe will be resolved, and as a result gold had a tough week. The dollar’s rally appears to be a short-term safe haven move, rather than a response to improving economic conditions in the ...

EUR/USD Did NOT Set A New Reaction Low. Time For A Short Squeeze?

Mon, 8 Feb 2010 19:25:54 CST

On Monday, currency traders were still focused on the budgetary problems of Greece and other European countries. However, this time the damage for the single currency was limited. In case global market tensions would ease, there might be room for some kind of euro short squeeze. This is the case...

SNB - An Information Vacuum

Mon, 8 Feb 2010 19:17:51 CST

As of 1 January 2010, Philipp Hildebrand replaced Jean-Pierre Roth as chairman of the governing board at the Swiss National Bank (SNB). Not a major event, given that Hildebrand has expressed no indications to alter how monetary policy is implemented by the SNB. However, there could be a significant change...

Forex Trading: Potential Bearish Breakdown Of Consolidation In GBP/USD « James Chen »

Mon, 8 Feb 2010 19:01:18 CST

“Gold is on another amazing run, breaking $1,000 and not looking back. IDE’s Rusty McDougal thinks it still has lots of room to move up. I agree. But I have something much better than gold for you right now. It’s a metal whose supply and demand is completely out of whack… I’m talking about silver. ...

Greece Is The Talk Of The Town As Stocks Take A Beating In The US Session

Mon, 8 Feb 2010 18:48:23 CST

Macro data is still in short supply, and UK Trade Balance and Wholesale Inventories are as exciting as it gets. The NFIB is interesting as an overview of how the important small business sector is doing in the US, but does not get much attention.

Tight Ranges As Markets Consolidate Recent Losses!

Mon, 8 Feb 2010 18:43:11 CST

In Europe again the main focus is turned to Greece's fiscal headache. The EU is due to hold a summit and Greek officials will most probably have a lot of comforting to do to their European counterparts. An IMF bailout continues to be the best solution for the crisis however...

WisdomTree (WSDT) Reports 2009 Earnings « Michael Johnston »

Mon, 8 Feb 2010 18:16:10 CST

Price action on GBP/USD, a daily chart of which is shown, has finally begun to show a bearish emergence from the sideways consolidation that has characterized this currency pair on a long-term basis for several months now. A clean breakdown below the 1.5700 support region last Friday represented a tentative breakdown below the consolidation, in ...

Are Diamonds In The Cards For Coal? « Frank Holmes »

Mon, 8 Feb 2010 18:01:23 CST

WisdomTree, the New York-based ETF issuer best known for its line of fundamentals-weighted and currency ETFs, reported on Monday its operating results for the fourth quarter of 2009. Most ETF issuers are either privately held or operated as divisions of larger public companies, meaning that gaining insight into the financial health of the industry can ...

Economic Recovery: Demanding More Purchasing Power « Daily Reckoning »

Mon, 8 Feb 2010 18:00:42 CST

While many market forecasters are expecting a slowdown in commodity demand due to a reduction in stimulus around the globe, coal is one commodity that’s expected to stand strong. The reason coal prices are expected to remain buoyant is unprecedented demand from China. As the chart shows, China moved from a net exporter to a net importer ...

Woes continue for USD with further cuts firmly on horizon

Mon, 8 Feb 2010 18:00:00 CST

New Zealand dollar

New Orleans Saints Are Superbowl Champs, But What Of The Commercials? « Chris Krasowski »

Mon, 8 Feb 2010 17:22:32 CST

What a delight it would be to have some inflation! Yes, dear reader, that’s the real reason that fiscal stimulus appears to work. That is, that’s the reason inflation can sometimes boost employment. It creates inflation. And inflation lowers wages. Lower wages make it cheaper to hire people. And they make US output more competitive ...

The Week Ahead In US: Retail Sales And U.Michigan Consumer Confidence Index « Matteo Radaelli »

Mon, 8 Feb 2010 17:01:28 CST

A football team embraced by a city as escapism; and for the excitement it provided the residents of New Orleans following the disastrous aftermath of Hurricane Katrina, has now come full circle to offer its hometown the celebration it deserves and desires. The New Orleans Saints defeated the Indianapolis Colts in ...

Daily ETF Roundup: GDX Drops 3.8%, DBA Jumps « Michael Johnston »

Mon, 8 Feb 2010 17:01:08 CST

Trade Balance (Wednesday 10) - With consumer spending rebounding at the tail end of the year, we expect exports to increase more than imports in December, widening the trade balance deficit. Our estimate is for imports to increase by 2.6% to USD179.12bn and exports by 2% to USD141bn. Should our estimates prove ...

Beginning Of The End « Daily Reckoning »

Mon, 8 Feb 2010 17:00:13 CST

More red ink washed over Wall Street at the start of a new week, as jitters over the state of public finances in Greece, Portugal, and Spain continued to weigh on European economies and rippled throughout global markets. In the U.S., the financials sector led the day’s decline after the Fed announced plans to detail ...

Telefonica To Buy More Unicom « Zacks Investment Research »

Mon, 8 Feb 2010 16:42:14 CST

Could the commodity and equity rallies have ended? Has a change been triggered by a resurgent dollar, meaning its purportedly strong negative correlation with gold and commodities continues to drive the process? But if so, would this also not signal the end of the reflation and carry trades? Would it not also mean that contractionary ...

Video: NYSE Closing Bell Market Monitor: HD, HAS, CIT « NYFP »

Mon, 8 Feb 2010 16:24:32 CST

Spain’s incumbent telecom carrier Telefonica (TEF) is planning to expand its stake in China Unicom (CHU), the second-largest Chinese wireless carrier. The Spanish telecom giant expects to gradually increase its share in the Chinese company to further boost its foothold in the world’s largest mobile market. The companies concluded a $1 billion stake purchase in each ...

Smith Int’l Plans Acquisitions « Zacks Investment Research »

Mon, 8 Feb 2010 16:22:36 CST

The latest in news, commentary, and information on what's moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ "http://www.nyx.com/marketmonitor"

The Next Phase Of My Evaluation « Michael Panzner »

Mon, 8 Feb 2010 16:19:00 CST

Smith International Inc. (SII), a major oilfield services company, expects to spend approximately $350 million on acquisitions in this quarter, following the company’s last year’s $700 million-plus stock issue. In addition to acquisition initiatives, the company also intends to deploy this fund to pay down its debt level. Smith has been quite active in recent days ...

Video: Crude Quiet To Start The Week « NYFP »

Mon, 8 Feb 2010 16:18:40 CST

In yesterday’s post-cum-psychological profile, “Economic Rorschach Test,” I wanted to know the first thing that popped into your head after hearing that Geithner, Paulson, and Greenspan agree the economy is recovering. In the next phase of my professional evaluation — after all, if these guys have the gall to consider themselves economic experts then I see ...

Video: Newport Cigarette Maker Lorillard’s 4Q Goes Up In Smoke « NYFP »

Mon, 8 Feb 2010 16:15:26 CST

Front month crude prices were quiet this session following a lack of economic data.

ProShares Plans 300% Leveraged ETFs « Michael Johnston »

Mon, 8 Feb 2010 16:13:24 CST

Newport cigarette maker Lorillard Incorporated posted a quarterly drop in net income due to higher costs.

Economic, News And US Earnings Reports For The Week Of February 8 - 12 2010 « KhronoStock »

Mon, 8 Feb 2010 16:12:17 CST

ProShares, the issuer responsible for pioneering leveraged and inverse ETFs, has filed prospectuses for 16 new funds. Expansion is nothing new for ProShares–the company has launched a handful of new ETFs over the last year–but the filing was interesting because it detailed plans for 300% leveraged ETFs. ProShares’ current product line, which consists of more ...

Berkshire Rating Cut On Debt Issue « Zacks Investment Research »

Mon, 8 Feb 2010 16:05:54 CST

This week is not so heavy on the economic calendar front. One notable item is the January retail sales. Earnings reports continue to be heavy. Notable companies set to report this week include: CVS Caremark (CVS), NYSE Euronext (NYX), Baidu (BIDU), Walt Disney (DIS), Sprint (S), Phillip Morris (PM) and Duke Energy ...

Equity Market Correction A One Quarter Event « Daily Reckoning »

Mon, 8 Feb 2010 16:00:57 CST

Last week, Berkshire Hathaway Inc. (BNI). Following this announcement, rating agency Standard & Poor’s (S&P) stripped the company of its AAA ratings. S&P downgraded the rating to AA+ from AAA, citing concerns that the $8 billion issue of debt will strain the Berkshire’s capital adequacy. The rating was placed on credit watch last November when the ...

How The Shipping ETF Is Charting Its Course « Tom Lydon »

Mon, 8 Feb 2010 15:50:47 CST

I believe equity markets (and riskier assets in general) are in the midst of a 10-15% correction that plays out within one quarter, which is normal, not at the onset of the next financial avalanche, which lasts many quarters. There was never any question that the extraordinary policy maneuvers of 2009 would begin to be unwound ...

Alkermes Retains Neutral Rec « Zacks Investment Research »

Mon, 8 Feb 2010 15:49:09 CST

The shipping exchange traded fund (ETF) has had its share of rough waters, however, many believe it should find smoother sailing as more raw materials and finished goods criss-cross the seas. Shipping has struggled across all ship types. Claymore/Delta Global Shipping (SEA) tracks a cross-section of bulk and tanker ships, so it hasn’t been immune from ...

Novatel Gets Downgraded « Zacks Investment Research »

Mon, 8 Feb 2010 15:35:38 CST

We maintain our Neutral rating on Alkermes, Inc. (ALKS) with a price target of $11.50. Alkermes is a drug delivery biotech company which uses its proprietary specialized drug delivery technologies to develop drugs for the treatment of central nervous system (CNS) disorders, alcoholism and diabetes. Alkermes has two approved products on the market. Its lead product, Risperdal ...

Five ETFs For A Trade War With China « Michael Johnston »

Mon, 8 Feb 2010 15:20:54 CST

We downgrade our recommendation for Novatel Wireless Inc. (NVTL) to Neutral, which means the stock should perform in line with the broader market. The company is facing intensifying competition for its core embedded solutions for wireless access. In addition to its traditional rival, Sierra Wireless (SWIR), Novatel is facing significant challenges from newly launched products by ...

MICROS Beats Estimates « Zacks Investment Research »

Mon, 8 Feb 2010 15:20:14 CST

Sino-American relations are quickly reaching a breaking point, as the Obama administration continues to spar with the People’s Republic of China over a variety of issues. The first clash was seen in the tariffs proposed on Chinese steel pipe manufacturers last year, followed by another dispute related to tire producers shortly thereafter. The Chinese took ...

Trends In Gold, 10 Year Treasury Yields, And Crude Oil « Guy Lerner »

Mon, 8 Feb 2010 15:15:00 CST

MICROS Systems, Inc. (MCRS) reported revenues of $225.6 million in the second quarter of fiscal 2010, down 4.6% from a year ago but almost flat sequentially. On a segment basis, hardware revenues came in at $45.8 million, down 17.7% year over year. Software revenues came in at $30.5 million, down 19.084% year over year. Service revenues ...

Magellan’s Net Income Rises « Zacks Investment Research »

Mon, 8 Feb 2010 15:08:35 CST

Over the past year, I have most often discussed the composite indicator constructed from the trends in gold, crude oil, and yields on the 10 year Treasury in the context of high readings. Collectively, when these trends are strong and rising, stocks tend to under perform. This has been the case over the past 25 ...

3 Reasons For Optimism Found In Canada’s ETF « Tom Lydon »

Mon, 8 Feb 2010 14:55:46 CST

Magellan Midstream Partners L.P. ([url=http://www.zacks.com/stock/quote/mmp]MMP[/url]), a master limited partnership (MLP), announced robust fourth quarter results, buoyed by higher transportation tariffs and product gains in the pipeline system. The partnership reported earnings per unit (EPU) of 77 cents, surpassing the Zacks Consensus Estimate by 2 cents. In the year-ago period, Magellan earned 51 cents per unit. Distribution ...

Top-Line Increases At AppliedMicro « Zacks Investment Research »

Mon, 8 Feb 2010 14:52:31 CST

Canada’s exchange traded fund (ETF) is looking better. Indicators are on the rebound, the economy is growing again and consumer spending is forecast to continue making strides this year. Economists are optimistic about the recovery in Canada, for good reason: For the third straight month in November, Canada’s economy grew, backed by strength in the gas and ...

China Mobile Touts Ophone Plan « Zacks Investment Research »

Mon, 8 Feb 2010 14:36:52 CST

AppliedMicro (AMCC) reported revenues of $53.7 million in the third quarter of fiscal 2010, up 9% sequentially and up 13% year over year. Product revenues increased 10% sequentially. Processor revenues were $28.0 million, up sequentially. Transport revenues were $22.7 million, sequentially up 7%, and licensing revenues were $3 million. On a geographical basis, sales to North America ...

American Axle Swings To Profit « Zacks Investment Research »

Mon, 8 Feb 2010 14:21:34 CST

China Mobile (CHL), the world’s largest mobile operator by subscribers, is reportedly warming up to launch up to 30 new smartphone models in 2010 that are designed to run on the carrier’s home-grown TDSCDMA 3G standard. The devices (called “Ophones”) are being developed using the company’s proprietary “Open Mobile System (OMS)” smartphone operating system based ...

Investing In Japan: Two Ways To Play Its Stock Market Revival « Alexander Green »

Mon, 8 Feb 2010 14:19:05 CST

American Axle and Manufacturing (AXL) returned to profitability in the fourth quarter of 2009 after reporting losses since the first quarter of 2008. The company has posted a net income of $8.3 million or 14 cents per share (before special items), compared to a loss of $42.6 million or 83 cents per share (before special ...

Forex Trading: EURUSD Looking For Direction. Testing The Support Levels « Greg Michalowski »

Mon, 8 Feb 2010 14:08:42 CST

Monday, February 8, 2010: Issue #1192 Here’s a handy way to know when to sell your investments: everyone is talking about them. There is an obvious corollary to knowing what to sell. If you want to know what to buy, consider what no one is talking about. And that brings me to investing in Japan… Investing in Japan: Land ...

Nippon Telephone Outperforms « Zacks Investment Research »

Mon, 8 Feb 2010 14:06:14 CST

The clues from the market suggest the price is due for a directional move. The 100 and 200 bar movin average are getting closer (within 7 pips - blue and green lines above). There is an uptrend line the market is testing but can not get through, and the  the price action is consolidating.  The ...

Forget the Mortgage, I'm Paying My Credit Card Bill (U.S. News & World Report)

Mon, 8 Feb 2010 14:04:33 CST

AP - Bank of America Corp., the nation's largest lender, spent $1.18 million in the fourth quarter to lobby the federal government on issues such as executive compensation, credit cards and mortgage lending practices, according to a recent disclosure report.

What The Past Tells Us « Daily Reckoning »

Mon, 8 Feb 2010 14:00:35 CST

Nippon Telegraph & Telephone Corp. (NTT) declared better-than-expected fiscal third quarter 2010 financial results. On a GAAP basis, net income in the third quarter of fiscal 2010 was approximately $1,523 million or $1.15 per share, compared to net income of approximately $1,473 million or $1.10 per share in the prior-year quarter. The third quarter EPS of ...

U.S. Oil Consumption Still Weak « Zacks Investment Research »

Mon, 8 Feb 2010 13:51:33 CST

Perhaps because we are a young country, Americans tend not to pay much attention to the lessons of history. Well, we should start, because those lessons are brutal. Power, even great power, if not well tended, erodes over time. Nations, like corporations and people, can lose discipline and morale. Economic and political vulnerability go hand ...

The Greatest Money War Of All Time « Martin D. Weiss »

Mon, 8 Feb 2010 13:50:22 CST

The U.S. Energy Department’s weekly inventory release showed a surprise climb in crude stockpiles, while distillate supplies posted a smaller-than-expected draw. The agency’s bearish report further added that refiners continued to cut production, and are currently operating at their lowest rate in two decades. This has instilled renewed doubts about the health of the U.S. economy, ...

Loews Corp Reports Profit « Zacks Investment Research »

Mon, 8 Feb 2010 13:37:59 CST

We are caught in the grips of a great war! It is not a traditional land or sea war with tanks and battleships. Nor is it an anti-terrorist, guerilla war for hearts and minds. Rather, it is war of a third kind - pitting government bureaucrats against millions of investors … and causing massive collateral damage to innocent ...

Essential Employees In The Government Growth Industry « Daily Reckoning »

Mon, 8 Feb 2010 13:30:02 CST

Loews Corporation’s (L) fourth quarter income from continuing operations came in at 94 cents per share, 2 cents below the Zacks Consensus Estimate of 96 cents. However, the results were significantly better compared to the year-ago quarter’s results when the company had reported a loss of $2.20 per share. For full-year 2009, income from continuing operations ...

FII Initiated As Neutral « Zacks Investment Research »

Mon, 8 Feb 2010 13:21:55 CST

There was a storm raging on Wall Street too. And by the end of the day, traders, investors and speculators probably wished they had stocked more alcohol for the weekend. The Dow was up 10 points. After being down 100 points. Gold fell $10. “Clearly we have entered the worry, fear camp,” said one pro. Unfortunately, today’s action ...

Macy’s Raises Outlook « Zacks Investment Research »

Mon, 8 Feb 2010 13:05:29 CST

We are initiating coverage on Federated Investors Inc. (FII) with a Neutral recommendation. The company’s fourth-quarter earnings of 51 cents per share missed the Zacks Consensus Estimate by a couple of pennies on money fee waivers and higher operating expenses.   Results reflected an increase in fixed income equity funds, fixed income assets and equity assets, decrease ...

Paychex Inc. Offers A Chance To Profit From The New Employment Paradigm Shift « Horacio Marquez »

Mon, 8 Feb 2010 13:01:28 CST

Macy’s Inc. (M) raised its earnings guidance for the fourth quarter and fiscal 2009, buoyed by better-than-expected sales and effective cost management.   Macy’s now expects fourth-quarter earnings in the range of $1.35 to $1.37 per share, up from its prior view of $1.14 to $1.18. For fiscal 2009, management expects earnings between $1.36 and $1.38 per ...

Inflation: Ignoring Doesn’t Make It Go Away « Daily Reckoning »

Mon, 8 Feb 2010 13:00:06 CST

The U.S. labor picture may not be clear, but investors can profit by acquiring shares of Paychex Inc. (PAYX) to take advantage of the new employment paradigm. As the former head of credit and analysis for ADP Capital Management, the investment arm of Automatic Data Processing (ADP), I know the outsourced payroll industry from the inside ...

Forex Trading: GBPUSD Falls Below Support At 1.5629/36 And Tests 100 Bar MA « Greg Michalowski »

Mon, 8 Feb 2010 12:54:03 CST

Being absolutely Frightened Out Of My Mind (FOOMM) about inflation, I am always looking at how much things cost and seeing if there is any inflation, so that the next time somebody tells me that inflation is “tame, benign, absent, nothing to worry about”, I can shake my proof in their stupid little faces and ...

NHP Acquires 2 Properties « Zacks Investment Research »

Mon, 8 Feb 2010 12:48:31 CST

The 1.5629/36 level was resistance on the way up today, support on the correction and then the level gave way leading a move down to test the 100 bar MA on the 5 minute chart at the 1.5606 level (low reached 1.5604).  The price has rebounded off the low.  The price should now find resistance ...

99 Cents Easily Beats Ests « Zacks Investment Research »

Mon, 8 Feb 2010 12:32:31 CST

Nationwide Health Properties, Inc. (NHP), a real estate investment trust (REIT) that invests in healthcare facilities, recently acquired 2 medical office buildings (MOB) from Pacific Medical Buildings LLC. Pacific Medical specializes exclusively in the development and management of MOB, outpatient facilities and parking structures for hospitals, medical groups and universities.   Nationwide Health acquired the Pomerado Outpatient ...

Video: Lack Of Economic Data Creates Mixed Money Markets « NYFP »

Mon, 8 Feb 2010 12:19:00 CST

99 Cents Only Stores Inc. (NDN) recently reported its fiscal 2010 third quarter results. The company recorded a strong 97% growth in earnings to $24.5 million from $12.4 million in the year-ago period. Earnings per share came in at 35 cents, easily beating the Zacks Consensus Estimate by 10 cents. The company reported EPS of ...

BG Wraps Up Initial Moema Deal « Zacks Investment Research »

Mon, 8 Feb 2010 12:15:09 CST

The money markets traded mixed this session following a lack of economic data that has left currency pairs mostly unchanged.

Japanese Car Trouble « Daily Reckoning »

Mon, 8 Feb 2010 12:11:01 CST

Bunge Ltd. (BG), a leading global agribusiness and food company in the U.S., has recently completed the first phase of 100% acquisition of Usina Moema Participacoes S.A., a holding company that wholly owns one sugarcane mill in Brazil and has ownership interests in five others.  With this, Bunge has obtained 100% ownership of three of the ...

Video: Market Movers: HAS, AZO, MCO, MHP, DIS, ARG, APD « NYFP »

Mon, 8 Feb 2010 12:08:28 CST

The past few weeks have not been easy for the Japanese. First off, the nation’s largest company, Toyota, was forced to issue a recall for automobiles on three continents after it was revealed that the brake pedal on certain models had a tendency to “get stuck.” Consumers have become rather attached to the brake accessory on ...

Bruce Greenwald Interview On Benjamin Graham And Value Investing « Jacob Wolinsky »

Mon, 8 Feb 2010 12:01:46 CST

The latest news and information on U.S. stocks that are moving the market.

EU Approves Merck’s Elonva « Zacks Investment Research »

Mon, 8 Feb 2010 12:00:53 CST

I found a recent video interview with guru value investor Bruce Greenwald. Bruce Greenwald is interviewed by an Financial Times Reporter on value investing. Bruce Greenwald is one of my favorite value gurus. He is the author of Value Investing: From Graham to Buffett and Beyond (Wiley Finance) which is a superb book on value ...

Luminex Revenues Expand « Zacks Investment Research »

Mon, 8 Feb 2010 11:45:21 CST

Recently, Merck & Co. Inc. (MRK) received approval from the European Commission (EC) for its fertility drug Elonva (corifollitropin alfa injection). The drug will be used as a treatment in controlled ovarian stimulation (COS) coupled with a GnRH antagonist for the development of multiple follicles in women who have participated in an assisted reproductive technology ...

ON Semi Looks Good « Zacks Investment Research »

Mon, 8 Feb 2010 11:30:32 CST

Luminex Corp. (LMNX) reported fourth-quarter fiscal 2009 earnings (excluding the release of the valuation allowance) of $5.2 million or 12 cents per share, up from $2 million or 5 cents per share in the year-ago quarter. The Zacks Consensus Estimate for the reported quarter was a gain of 7 cents.  Quarter in Detail  Total revenues for the ...

American Capital Agency says earnings rose in 4Q (AP)

Mon, 8 Feb 2010 11:25:24 CST

U.S. News & World Report - Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed by TransUnion found the percentage of Americans who were current on their credit cards but behind on their mortgage increased to 6.6 percent in the third quarter of 2009, up from 4.3 percent in the first quarter of 2008. Meanwhile, the share of consumers making mortgage payments on time but behind on their credit cards moved in the opposite direction, sliding from 4. ...

Silgan Outperforms « Zacks Investment Research »

Mon, 8 Feb 2010 11:15:34 CST

ON Semiconductor (ONNN) reported fourth quarter earnings that beat the Zacks Consensus estimate by 4 cents.  Revenue  Revenue of $497.1 million was up 5.1% sequentially and down 1.7% year over year. This was better than management’s revenue expectations of 480-495 million (up 2-5% sequentially). The Americas drove the strength in the last quarter, increasing 41.8% sequentially. In ...

Toyota Prius Faces Recall « Zacks Investment Research »

Mon, 8 Feb 2010 11:12:59 CST

Silgan Holdings Inc. (SLGN) reported its fourth-quarter earnings last week. The company posted earnings of 63 cents per share, beating the Zacks Consensus Estimate of 54 cents and up 40.0% from the year-ago earnings of 45 cents per share.   Net sales in the quarter declined 4.9% to $705.3 million from $741.6 million in the prior-year quarter, ...

Life Sells Mass Spectrometry Biz « Zacks Investment Research »

Mon, 8 Feb 2010 11:00:44 CST

Toyota Motor’s (TM) popular 2010 Prius hybrid automobile faces a recall, adding to the series of the automaker’s recalls in the past few months. Toyota will decide upon the magnitude of the recall this week. In September last year, Toyota recalled the largest-ever U.S. batch of 3.8 million vehicles, triggered by a high-speed crash in August ...

Forex Trading: AUDUSD Stalls At The Key Resistance. « Greg Michalowski »

Mon, 8 Feb 2010 10:52:57 CST

Life Technologies Corporation (LIFE) recently completed the sale of its mass spectrometry business to Danaher Corporation (DHR) for $450 million in cash, subject to a conventional working capital adjustment. Danaher also acquired Life’s joint venture partner in the mass spectrometry business, MDS Analytical Technologies, a division of MDS Inc. (MDZ).   We view Life’s decision to divest ...

Earnings Preview: Teradata « Zacks Investment Research »

Mon, 8 Feb 2010 10:30:48 CST

The AUDUSD has stalled at the 87.07 resistance level (see prior post).  Above the level is also the high from last Friday which comes in at the 0.8717 level .  The high reached 0.8708.  The correction lower off the high has been able to stay above the 100 bar MA on the 5 minute chart which ...

Forex Trading: EURJPY Tests Key Level At 122.42 « Greg Michalowski »

Mon, 8 Feb 2010 10:29:43 CST

Teradata Corporation (TDC) announced that it would release its 2009 fourth quarter results before the market opens on Feb 11, 2010.   During the third quarter earnings release, management had raised its outlook for fiscal 2009 due to continued focus on operational execution, which is driving growth. Accordingly, earnings per share were expected to be in the ...

Australian Dollar: Continuation Of The Rebound « Trading Central »

Mon, 8 Feb 2010 10:17:46 CST

 The EURJPY has key resistance at the 122.42 level. The level corresponds with the 61.8% of the move up from the Jan 2009 low to the June 2009 high.  The price moved up and tested the level in the last move higher but has come off .   A move above is needed to inject more ...

Canadian Dollar: Continuation Of The Rebound « Trading Central »

Mon, 8 Feb 2010 10:17:44 CST

Update on supports and resistances.

SPIL Tops Estimates « Zacks Investment Research »

Mon, 8 Feb 2010 10:15:26 CST

Update on supports and resistances.

Badger Meter Disappoints « Zacks Investment Research »

Mon, 8 Feb 2010 10:00:36 CST

Siliconware Precision Industries Co. Ltd (SPIL) reported earnings from continuing operations of 21 cents per ADR for the fourth quarter of 2009, exceeding the Zacks Consensus Estimate of 14 cents.   Sales revenues for the fourth quarter of 2009 were NT$ 16,813 million ($520.6 million), which represented a 0.5% increase in revenues compared to the third quarter ...

Brazilian Rate Hike In March? « Daily Reckoning »

Mon, 8 Feb 2010 10:00:05 CST

Badger Meter (BMI) recently reported its fourth quarter results. The company reported earnings of 34 cents per share, which is below the Zacks Consensus Estimate of 37 cents per share as well as the prior-year EPS of 42 cents.  Quarterly sales declined 16.6% to $56.4 million from $67.6 million in the fourth quarter of 2008. The ...

Forex Trading: USDJPY In Narrow Range Still « Greg Michalowski »

Mon, 8 Feb 2010 9:51:01 CST

The dollar bulls were celebrating again on Friday, as the dollar rally continued. The recent strength in the US dollar will probably continue this week, as it looks like it will be fairly uneventful as far as data releases. We won’t have any reports out in the US today, and tomorrow will only bring the ...

Eight Ways To Profit From The World’s Biggest Spending Boom « Money Morning »

Mon, 8 Feb 2010 9:50:38 CST

The 200 and 100 bar MA have done a good job of capping the topside resistance at the  89.33-36 level during the NY session. As London gets ready to leave for the day will the 11-12PM time period start a move?  A move down, has to now get through the 89.13-18 area to confirm the bearishness.  ...

Conmed Surpasses Estimate « Zacks Investment Research »

Mon, 8 Feb 2010 9:45:10 CST

Back in the 1970s, environmentalists feared we were going to “blacktop the Earth.” It’s not likely that will ever happen. However, governments around the world do have plans to pave a good portion of it in the decade to come. And they also plan to build bridges, power plants, water systems, and to develop other ...

Video: NYSE Opening Bell Market Monitor: CVS, HAS, DIS « NYFP »

Mon, 8 Feb 2010 9:39:24 CST

Conmed Corporation (CNMD) reported fourth quarter and full fiscal 2009 results. For the quarter, earnings per share were 37 cents, surpassing the Zacks Consensus Estimate of 32 cents and the year-ago earnings of 34 cents. In fiscal 2009, earnings per share were $1.00, lower than the year-ago earnings of $1.54.  Quarterly results  Total sales in the fourth ...

Video: CVS Prescribes A 4Q Profit « NYFP »

Mon, 8 Feb 2010 9:32:23 CST

The latest in news, commentary, and information on what's moving the US equities markets.

CVS Beats By A Penny « Zacks Investment Research »

Mon, 8 Feb 2010 9:30:01 CST

The CVS Caremark Corporationn (CVS) announced Monday that it posted a larger-than-expected 4Q profit.

Swiss Franc: Continuation Of The Rebound « Trading Central »

Mon, 8 Feb 2010 9:18:01 CST

CVS Caremark’s (CVS) fourth quarter earnings came in at 79 cents per share, a cent above the Zacks Consensus Estimate of 78 cents and higher than 70 cents reported in the year-ago period. Revenues increased 7% year-over-year to $25.8 billion primarily due to robust growth of both segments - Pharmacy Services and Retail Pharmacy.  For the ...

Five Energy ETF Options For Bargain Hunting Investors « Michael Johnston »

Mon, 8 Feb 2010 9:16:12 CST

Update on supports and resistances.

Buckeye Rises On Cost Initiatives « Zacks Investment Research »

Mon, 8 Feb 2010 9:15:34 CST

The first six weeks of 2010 have been a bit on the tumultuous side, as equity markets that came flying out of the gate have done a complete reversal, heading lower and erasing large chunks of the gains recorded in 2009. While the rocky start has been unnerving for investors anxious over the possibility of ...

Morning News Notes: 2/8/2010 « Guy Lerner »

Mon, 8 Feb 2010 9:07:00 CST

Buckeye Partners L.P. (BPL) earnings in the fourth quarter of 2009 were above Zacks Consensus Estimate of 92 cents per limited partner unit and earnings reported a year ago of 89 cents. Buckeye reported earnings of $1.03 per unit in the quarter. For the full-year 2009, the partnership reported earnings of $3.63 per unit compared ...

Abiomed Beats Zacks Estimate « Zacks Investment Research »

Mon, 8 Feb 2010 9:00:43 CST

The “Morning News Notes” as prepared by TL… Greece, Bernanke, Geithner, Greenspan, unemployment and job creation, and odds of an increase in Fed Funds rate. Just click on the link or the coffee mug below. “Morning News Notes”: February 8, … [visit site to read more]

Video: Asian Markets Volatile To Start Week « NYFP »

Mon, 8 Feb 2010 8:53:33 CST

Abiomed, Inc. (ABMD) reported third quarter of fiscal 2010 results. For the quarter, net loss per share was 11 cents, beating the Zacks Consensus Estimate of loss per share of 18 cents and the year-ago loss of 20 cents.   Earnings Estimate Revision Trend and Zacks Rank  The earnings estimate revision for Abiomed has demonstrated a mixed trend in ...

Trimble Disappoints Again « Zacks Investment Research »

Mon, 8 Feb 2010 8:45:31 CST

The major Asian/Pacific markets got off to quite an active start this session with Japan's Nikkei dropping on continued declines from automakers including Toyota.

Forex Trading: AUDUSD. Is A Further Correction Due? « Greg Michalowski »

Mon, 8 Feb 2010 8:34:02 CST

Trimble Navigation’s (TRMB) third quarter earnings missed consensus estimates by $0.02. Both GAAP and non-GAAP earnings were within management’s guided range.   Seasonality typically causes huge sequential fluctuations in both revenue and margins. As a result, management generally compares results on a year-over-year basis. In our discussion, we will include both sequential and year-over-year comparisons, wherever possible.   Revenue of ...

Westamerica Misses Estimates « Zacks Investment Research »

Mon, 8 Feb 2010 8:30:16 CST

Looking at the AUDUSD 5 minute chart over the last 24 hours of trading or so, there is some choppy action. However, there are some “remembered prices” which have created a few floors in the pair in the shorter term. The first floor come in at the 89.20 level where the market used as extreme ...

Japanese Yen: The Upside Prevails « Trading Central »

Mon, 8 Feb 2010 8:18:00 CST

Westamerica Bancorp.’s (WABC) reported fourth quarter earnings per share of 79 cents and missed the Zacks Consensus Estimate of 82 cents. Earnings were higher from 71 cents reported in the year-ago quarter but a couple of pennies below 81 cents reported in the prior quarter. During the reported quarter 2009, Westamerica redeemed $42 million in ...

British Pound: The Upside Prevails « Trading Central »

Mon, 8 Feb 2010 8:17:56 CST

Update on supports and resistances.

Euro: The Upside Prevails « Trading Central »

Mon, 8 Feb 2010 8:17:53 CST

Update on supports and resistances.

Have Traders Abandoned Gold’s “Flight To Safety” Status? « OptionsXpress »

Mon, 8 Feb 2010 8:17:37 CST

Update on supports and resistances.

ACS, Xerox Merger Approved « Zacks Investment Research »

Mon, 8 Feb 2010 8:15:01 CST

Fundamentals It sure looks like some so called “Gold Bugs” have been swatted recently, as the yellow metal’s historic price rise has hit some speed bumps lately. Ironically, one of the big bullish arguments for buying Gold was the fear of rising inflation tied to a weaker U.S. Dollar, as investors feared uncontrolled government spending and ...

J. C. Penney January Sales Fall « Zacks Investment Research »

Mon, 8 Feb 2010 8:00:41 CST

Affiliated Computer Services Inc. (ACS), a leading business process outsourcing firm rose 0.45% after hours after falling 2.28% to close at $59.64, following the company’s announcement that shareholders had approved its acquisition by Xerox Corporation (XRX).   The transaction is expected to close soon and as a result, Standard & Poor’s announced changes to its index. S&P MidCap 400 constituent ...

Hanmi brings in financial adviser (AP)

Mon, 8 Feb 2010 6:43:20 CST

AP - American Capital Agency Corp. reported sharply higher earnings for the fourth quarter of 2009 Monday as the government-backed mortgage securities it holds gained value.

The Education of the ECB

Mon, 8 Feb 2010 1:57:09 CST

The euro is just over a decade old. In its short existence it has been embraced by every level of the international currency markets. Central banks, national treasuries, sovereign funds and multi-national corporations store their wealth and trust its central bank custodians to maintain value. Institutional and retails traders have...

Weekly Technical Commentary

Sun, 7 Feb 2010 23:08:46 CST

Slow work, but perhaps understandable as we hover not that far above key ultra-long term support between 87.00 and 85.00. We have retraced half of the year-end rally and are hovering at the bottom edge of a decent-sized flat-bottomed daily Ichimoku 'cloud'. Fibonacci retracement support at the 61% level will...

US Economic Indicators Preview

Sun, 7 Feb 2010 22:57:57 CST

After having increased by a total of 3% in October and November, retail sales dropped by 0.3% mom in December, as car sales fell slightly despite industry reports of another rise. However, in January, the announced drop in domestic vehicle sales could actually translate into higher car sales in the...

Weekly Forex Signals: GBPUSD

Sun, 7 Feb 2010 21:09:30 CST

The U.K. currency might start to rebound after a strong bearish movement based on technical analysis. Indicators gives us a bullish signal for a correction reason like RSI, which bounces on 30% line upwards, MACD crosses the signal upwards on hourly chart, and Bollinger gives us a bullish signal by...

IMM Positioning - Short EUR Positions At Record Level

Sun, 7 Feb 2010 20:58:18 CST

A broad-based flight from the riskier currencies coupled with Euro-zone sovereign debt fears have seen non-commercial investors add to their net long USD positions, which have now reached the highest levels since March last year.

BoE MPC to Provide Further Detail Behind Decision to Halt QE

Sun, 7 Feb 2010 20:03:27 CST

Following on from last week's decision by the MPC to halt its programme of quantitative easing, attention will shift to the detail of its quarterly Inflation Report (published on Wednesday), which would have been a key input into the MPC's deliberations. Key themes arising from the statement accompanying the policy...

Trichet Off to Brussels & Markets in a "Wait & See" Pattern

Sun, 7 Feb 2010 18:00:00 CST

Markets are still in a hold / consolidation pattern before 1st tier economic data starting Wednesday. However, we are seeing signs of EUR contrarians stepping in and trading on the long side. Markets and media have been lightning fast in jumping on the EU collapse bandwagon and there is speculation that the pair has moved too fast. While risk appetite remains fragile, the EURUSD move above 1.3770...

Goldman's payment demands on AIG probed: report (Reuters)

Sun, 7 Feb 2010 14:12:47 CST

AP - Hanmi Financial said Monday that it has retained Cappello Capital Corp. as a financial adviser while the company pursues strategic alternatives.

EURUSD: On The Tear For The 13422 Level

Sun, 7 Feb 2010 3:58:35 CST

With a clean violation of its July 08’09 low at 1.3831 and the 1.3747/33 levels, its Jun 16’09 low/.50 retracement(1.2328-1.5143 rally) established, risk of further weakness has scope towards the 1.3422 level, its .61 Fib retracement/May 18’09 low at 1.3422/09. However, our bearish view on EUR may be tempered with...

GBPUSD: Sideways Range Break Out Highlights Prospect For The 1.5276 Level

Sun, 7 Feb 2010 3:57:17 CST

Having finally pushed through its Oct 13’09 low/range lows at 1.5706 the past week, we are now looking for further downside weakness towards its major support at the 1.5276 level, its .50 Fib Ret(1.3501-1.7041 rally). Before here lies a minor support at the 1.5351 level, its May 12’09 high. With...

EMU Economic Indicators Preview

Sat, 6 Feb 2010 5:41:14 CST

On 12 February, Destatis (the German Federal Statistical Office) is publishing its “flash release” on German Q4 GDP; a detailed breakdown of the components will follow on 24 February. As already suggested by Destatis, German GDP growth will probably have remained unchanged quarter-on-quarter in Q4 2009. Italian GDP could have...

Weekly Economic and Financial Commentary

Sat, 6 Feb 2010 5:30:35 CST

Only in our foggy memories do past economic recoveries appear clear and obvious to the trained mind. Since our minds are still in training the current recovery appears uneven, unbalanced and uncertain. The theme of the Gross Domestic Product (GDP) report and recent data is one of uneven recovery. We...

The Weekly Bottom Line

Sat, 6 Feb 2010 2:12:35 CST

This week could be summed up in one word - jobs. Jobs and how to create them were a focus of President Obama's budget released on Monday and stayed in the limelight through Friday with the release of the January jobs report. While there have been a number of hopeful...

Sterling Falls Sharply Despite Pause in QE

Fri, 5 Feb 2010 22:14:27 CST

Sterling suffered from heavy selling pressure all week, despite the BoE announcing a pause in quantitative easing. Sterling lost ground against all G-10 currencies and broke below key support versus the USD (1.57008). Risk aversion trades continued with equity markets falling for the third consecutive week while sovereign CDS spreads...

The Week Ahead

Fri, 5 Feb 2010 17:24:29 CST

As we suggested in last week's report, risky assets swooned further this past week, with stocks, commodities, gold, oil and carry trades (JPY-crosses like AUD/JPY, EUR/JPY, and CAD/JPY) all seeing steep losses, while the USD surged higher as traders sought refuge. But a sharp rebound on Friday in those markets...

Weekly Market Wrap

Fri, 5 Feb 2010 17:18:40 CST

FX markets also remained fixated on the peripheral members of the European Union as concerns grew over possible spillover effects from Greek debt problems. Various European officials expressed optimism that member states would be able to tame burgeoning budget deficits over the medium term and reiterated that EU spending rules...

Weekly Technical Update: Risk Aversion Boosts USD and JPY

Fri, 5 Feb 2010 17:14:55 CST

Risk aversion took over and the USD and JPY benefited. This week's action is significant as it reflects breakouts and adjustments to previous outlooks. Let's take a step back an take a look a the big picture for the currency markets.

Consumer credit down in Nov. for record 11th month (AP)

Fri, 5 Feb 2010 16:47:28 CST

Reuters - U.S. regulators are investigating whether the mortgage insurance market was improperly distressed in 2008 because of payment demands that Goldman Sachs Group Inc and other banks made on American International Group Inc , The New York Times reported on Sunday.

December consumer credit down for 11th straight month (Reuters)

Fri, 5 Feb 2010 14:24:00 CST

AP - Americans borrowed less for an 11th consecutive month in December, paying off credit cards while increasing borrowing for cars and other products.

Visteon retirees appeal decision on benefits (AP)

Fri, 5 Feb 2010 13:58:37 CST

Reuters - A weak job market and tight credit conditions caused consumer credit to fall $1.73 billion in December, the eleventh straight monthly decline, a report from the Federal Reserve showed on Friday.

Smart Choices, Dumb Moves (BusinessWeek)

Fri, 5 Feb 2010 7:08:42 CST

AP - Attorneys for retired Visteon workers are appealing a bankruptcy judge's order allowing the auto parts supplier to terminate their health and life insurance benefits.

FX Briefing - Retreat from Risk: USD Continues to Strengthen

Fri, 5 Feb 2010 3:07:37 CST

In the first half of the week, EUR-USD strengthened initially, rising about 1 US cent to just over 1.40. From Wednesday afternoon on, however, the euro began to tumble again. Towards the end of the week, it dropped to around 1.37. Debt problems in Greece and some other eurozone member...

Weekly Focus: Fear is Back

Fri, 5 Feb 2010 2:58:56 CST

This week Greece announced austerity measures backed by the EU to prevent a public budget meltdown. We welcome this news and hope it will help calm tensions in Club Med sovereign debt markets. However, the markets remain shaky and this morning spreads shot out again. Can the Greeks deliver? And...

Weekly Market Commentary

Fri, 5 Feb 2010 2:36:59 CST

Stock markets will probably gather downside momentum, particularly if this week's potential 'shooting star' candles hold. This will exacerbate worries surrounding the financial system generally, and the banking system in particular. Expect more sheltering in top quality Treasuries, with yield curves flattening as short dates move towards zero. While we...

No Specifics at G7 on FX or Sovereign Crisis

Thu, 4 Feb 2010 18:00:00 CST

"We expect and we are confident that the Greek government will take all the decisions that will permit it to reach that goal," Trichet said. A statement made earlier, but reiterated by EU members of the G7 this weekend. In addition, EU members spent time trying to reassure non-EU members that Greece’s (Portugal ’s, Spain etc) fiscal problems can be solved without the help of external bodies such...

Mortgage investors try to regroup after meltdown (AP)

Thu, 4 Feb 2010 15:22:53 CST

BusinessWeek - Financial planners can advise, books can inform, worksheets can approximate. But they'll never replace the advice you can get from folks who have ventured before you into that great unknown: retirement. To help you avoid dead ends and pitfalls, we asked retirees to look back over their time outside the working world and talk about their smartest financial moves, biggest surprises, and worst mistakes.

Mortgage rates edge up slightly (AP)

Thu, 4 Feb 2010 10:54:25 CST

AP - The financial wizards who concocted the complicated mortgage-linked investments that nearly brought down the world economy are trying to come back from the dead.

Keep Emotions Out of Your Portfolio (The Motley Fool)

Thu, 4 Feb 2010 10:31:15 CST

AP - Rates on 30-year fixed mortgages rose slightly this week, inching above 5 percent, Freddie Mac said Thursday.

How Much Life Insurance Do You Need? (The Motley Fool)

Thu, 4 Feb 2010 9:59:23 CST

The Motley Fool - Stop over-thinking your portfolio. Take a mental "time out" and try some deep-breathing exercises. Do whatever it takes to rein in your caveman brain, because right now, your mind is one of your biggest liabilities -- emotionally and financially.

Government-owned GMAC loses $5 billion in 4Q (AP)

Thu, 4 Feb 2010 9:35:00 CST

The Motley Fool - To put it simply, life insurance protects those who depend on your paycheck. If you die prematurely, life insurance provides your dependents with ongoing income to replace yours, until (or unless) they can live comfortably without it. It can also provide a timely emergency fund for medical, legal, and funeral costs, should family savings not be adequate to cover them. (After all, that golf-inspired Fairway to Heaven casket ain't cheap.)

GMAC posts $5 billion Q4 loss (Reuters)

Thu, 4 Feb 2010 8:08:56 CST

AP - Home and auto lender GMAC Financial Services said Thursday it lost $5 billion in the last three months of 2009, as losses from its mortgage operations kept the company in the red for another quarter.

At The Apex Of A W-Shaped Recession?

Wed, 3 Feb 2010 18:00:00 CST

The collapse in risk sentiment over the past 24 hours has been triggered by seemingly innocuous events, with most news agencies pointing to concerns of sovereign debt woes in Spain and Portugal adding to the well-publicized situation in Greece. Others have also highlighted yesterday’s disappointingly high US claims figures which have certainly knocked optimism for today’s non-farm payrolls. But...

Juggling Your Financial Goals (The Motley Fool)

Wed, 3 Feb 2010 10:15:01 CST

Reuters - GMAC Financial Services, a lender that is majority-owned by the U.S. government after multiple bailouts, said it lost $5 billion in the fourth quarter after writing down bad mortgage assets.

Markets Talk of “Contagion” Weighs on EUR

Tue, 2 Feb 2010 18:00:00 CST

Risk appetite saw slight erosion in the Asian session, with the USD as the principal gainer. Equity markets across the region were weaker, with the Hang Seng down -1.66%. The heavy tone was not helped by New Zealand, which saw a jump in unemployment data from 6.5% to 7.3% (a 10yr high). Pre-data, markets had been aggressively pricing in RBNZ rate hikes as early as April, but these worrying...

Waiting for the ECs Assessment of Greeces Deficit Cutting Plan

Mon, 1 Feb 2010 18:00:00 CST

Just a day after the RBA mentioned China shift in policy as a rational for holding rates, Fitch Rating warned that banks in China faced the greatest “bubble risk” of any Asian country. This temporarily took the wind out of the risk-on tone, pushing the EURUSD down to 1.3946. However, markets were able to rally as Europe opened and traders prepared for an event and data filled day. Gold then broke...

Greece and Europe

Mon, 1 Feb 2010 2:43:56 CST

“We are cooperating with those who have more serious problems”, Joaquin Almunia European Union Economic and Monetary Affairs Commissioner said on Friday “We are all in the same boat”. Truer words were never spoken. Sovereign debt is not a Greek problem, (though it is the Greek problem); it is not...

IMM Positioning - Speculative Investors Turn Net Long The Dollar

Sun, 31 Jan 2010 21:42:09 CST

Coinciding with the past week's strong dollar performance, non-commercial investors have once again turned net long the dollar. Long dollar positions against the euro were built further to reach 21 percent of open interest – not far from the level of short EUR positions in place at the height of...

RBA Shocks Markets & AUD Collapses

Sun, 31 Jan 2010 18:00:00 CST

The RBA stunned the market by holding their cash rate steady at 3.75% and not hiking another 25bp, as was widely expected (roughly 80%). The AUD immediately collapsed, as traders anticipated eroding yield spread. The AUDUSD shed nearly one and a half big figures, trading from 0.8927 to 0.8780. However, the RBA’s accompanying statement clearly indicates that rates might go higher in the future....

China's Strong PMI Fails to Inspire Risk Takers

Thu, 28 Jan 2010 18:00:00 CST

Negative risk sentiment is still clearly the driving theme in the FX markets. Last week, already skittish investors were hit with the “trifecta” of problems. Rising CDS spreads on sovereign debt, worries that China would take a less accommodative stance in monetary policy and political risk in the US (take your pick: Bernanke’s confirmation, banking regulations and/or Obama’s whopper Budget)....

Focus on Sovereign Credit Weighs on Risk Appetite

Wed, 27 Jan 2010 18:00:00 CST

Despite the temporary boost in risk appetite, markets are still overly risk averse. Sovereign concerns clearly took center stage, weighting on the EUR yesterday, as an article in the Financial Times said that EC officials were planning a rescue plan for Greece . An unnamed source stated that "we may act when policies in one country are putting at risk economic and monetary stability". As pressure...

Fed Shows Signs Of Moving Away From Loose Monetary Policy

Tue, 26 Jan 2010 18:00:00 CST

Yesterday’s FOMC statement provided an unexpected split vote that suggests the Fed may be starting to lean away from continued loose monetary policy. Although the committee members kept interest rates unchanged and preserved most of the wording from the last statement, Fed member Hoenig dissented in the vote; as he believed “that economic and financial conditions had changed sufficiently that...

Greece Tries to Woo China & Markets Remain Nervous Ahead of FOMC

Mon, 25 Jan 2010 18:00:00 CST

The front page of the FT reads “Athens invites Beijing to buy Bonds”. It seems that Greece is trying to woo China into buying eur25bn worth of sovereign debt. While the article makes the deal seem positive to China , we are doubtful that China would happily pick up more risky paper with just the thin promise of “we won’t default”. Especially considering they are already sitting on a massive pile...

Japan Outlook Downgraded By S&P

Sun, 24 Jan 2010 18:00:00 CST

Risk appetite has suffered further setbacks in the past day on fears of China is clamping down on lending, Barack Obama’s proposals to freeze US spending, and this morning’s downgrade of Japan’s outlook to ‘negative’ by S&P ratings agency. Despite the latter development, JPY is higher on the day as the arguments for broader risk aversion are overpowering the logic that Japan’s economy may...

Market Awaits BoJ, FOMC and RBNZ Decisions

Thu, 21 Jan 2010 18:00:00 CST

Market Awaits BoJ, FOMC and RBNZ Decisions   Currency markets are consolidating at the beginning of this week after the turmoil of Obama’s banking overhaul proposals. A sparse data calendar on Friday combined with very few releases today means that most traders are likely to remain on the sidelines until further details of the Volcker rules are announced, or until market attention is drawn...

Uncertainty Over Implications For US Banks

Wed, 20 Jan 2010 18:00:00 CST

After President Obama’s dramatic speech yesterday on banking reforms, the tremors are still reverberating through financial markets. US indices took the brunt of the impact yesterday afternoon, and in the FX space, the JPY is still elevated against the USD and other crosses. However with a high degree of uncertainty still surrounding specific details; whether these sweeping changes can be passed,...

Sovereign CDS Will Be A Major Driver Of FX Trends In 2010

Tue, 19 Jan 2010 18:00:00 CST

EURUSD finds itself under relentless selling pressure this week (touching a low of 1.4033) as Greek bond yields continue to rise and the cost of insuring against sovereign default in Greece creeps further upwards. The yield on Greek Sovereign 2yr bond has surged to 4.96% having been around 1.70% at the end of September, and the cost of CDS (insurance premium to protect against default) has risen...

Dollar Benefits As Risk Sentiment Languishes

Mon, 18 Jan 2010 18:00:00 CST

Dollar Benefits As Risk Sentiment Languishes   The USD has continued to climb higher this week (the DXY touching highs of 78.02 so far this morning) with the ongoing erosion of risk appetite. A combination of poor economic data, dovish central bank rhetoric, and sovereign debt concerns have all played a part in sustaining the USD rally; and in addition, Q4 corporate earnings have not, thus...

UK Inflation Rockets Higher To 2.9 Percent

Sun, 17 Jan 2010 18:00:00 CST

This morning’s UK CPI was sharply higher than forecasts; coming in at a monstrous 0.6% MoM, 2.9% YoY in December, up from last month’s 0.3% MoM, 1.9% YoY rise. Today’s reading comes within a fraction of hitting the 3% threshold where BoE Governor King would be obliged to write a letter to the UK Chancellor of the Exchequer to explain the massive overshoot above the 2% target. GBPUSD has responded...

Are Policy Makers Preparing For Greece Exit?

Thu, 14 Jan 2010 18:00:00 CST

The start of another week brings with it a fresh spate of sovereign debt concerns, today sparked by an article in the UK’s Telegraph that speculates the ECB is ruminating over the potential legal framework for the possibility of a country leaving the European monetary union. Whether the cited document (entitled: “Withdrawal and expulsion from the EU and EMU: some reflections”) has come about at...

Greek Worries Still Linger while Portugal Risks Suffering a "Slow Death"

Wed, 13 Jan 2010 18:00:00 CST

Risk appetite continues to be shaky and markets remain nervous. Asian regional indexes are slightly higher, with European equity markets following. Early participants were abuzz with rumors that German Chancellor Merkel would resign, perhaps driven by a Time piece suggesting she was losing support of coalition partners. However, the rumors were quickly dismissed, with little linger...

Australia: Overpriced Or Underestimated?

Wed, 13 Jan 2010 6:16:42 CST

The increase in Australian Employment released overnight more than trebled analysts’ estimates (+35.2k vs. 10.0k expected), sending the Unemployment Rate tumbling to 5.5% against consensus forecasts for it to rise to 5.8%. Australia has unquestionably been one of the first out of the blocks in the recovery amongst the G10, a fact that saw AUDUSD appreciate over 27% in 2009 on the expectation of...