Effect of US debt default on dollar value : Other impacts could come due to another crash in the financial markets. Once a default takes place, U.S. debt immediately becomes more expensive to finance. Treasury bond rates would likely skyrocket, and the mortgage rates that are influenced by long-term Treasury rates could also rise. Other interest rates might be affected as well, as dollar-denominated debt in general becomes more expensive..
Asia Not Worried About Possible US Debt Default
Other large economies in Asia have significant currency reserves in U.S. dollars. For India, it is more than half of its foreign currency assets. And South Korea has invested nearly two-thirds of its $300 billion worth of reserves in U.S. dollar assets. Read More...
Euro Rallies Versus Dollar as European Summit Eases Region's Debt Turmoil
The euro rose for the first time in three weeks against the dollar and touched a two-week high after European leaders agreed to a new bailout for Greece and expanded the role of the region’s rescue fund. Read More...
Dollar may fall as debt ceiling deadline nears
The U.S. dollar may fall next week on concern the United States may lose its top-notch credit rating with politicians nowhere close to reaching an agreement on lifting the U.S. debt ceiling as an August 2 deadline looms. Read More...
Debt default would mean financial crisis round two
Neither is the case with the US. It borrows in its own currency and at yields of around 3 per cent it is hard to see any risk of default priced into US Treasuries. But without a deal to raise the debt ceiling, the US Government would find itself at least 40c in the dollar short of being able to pay its bills. It runs a deficit of US$125 billion a month. Read More...
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Saturday, July 23, 2011
President Obama Willing To Raise Debt Ceiling On His Own
President Obama Willing To Raise Debt Ceiling On His Own ; President Barack Obama and House Speaker John Boehner might not agree on how to slash the country's deficit, but they agree on one thing: They are convinced the nation's $14.29 trillion debt ceiling will be raised.
President Obama, sounding at times exasperated that talks broke down with Boehner (R., Ohio), said no matter what happens, the debt ceiling must be raised. He said he'll tell that to congressional leaders Saturday when they meet at the White House.
The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013," Obama said. Boehner said he is " convinced" the debt ceiling will be raised.
But how can they be so confident?
"I am confident simply because I cannot believe that Congress would end up being that irresponsible that they would not send a package that avoids a self- inflicted wound to the economy at a time when things are so difficult," Obama said.
He also signaled he'd take the responsibility himself. "I'm happy to do it," Obama said.
Boehner also said Friday that, despite talks breaking down, he's "convinced" the debt ceiling will be raised.
Obama currently doesn't have the power to raise the debt ceiling without Congress. But a last-ditch option that is being discussed by Senate Majority Leader Harry Reid (D., Nev.) and Senate Minority Leader Mitch McConnell (R., Ky.) would give him power to request a boost in the debt ceiling. Then, though a series of complicated votes, only a minority of lawmakers would be required to raise it.
President Obama said he wants a clear understanding before the weekend ends of what the next move is. He said lawmakers need to recognize "that Wall Street will be opening on Monday and we better have some answers during the course of the next several days."
President Obama said he still wants to continue to try and find common ground on slashing the deficit. Only raising the debt ceiling, Obama warned, might not be enough to avoid a downgrading of U.S. debt.
"If we can't come up with a serious plan for actual deficit and debt reduction, and all we're doing is extending the debt ceiling for another six, seven, eight months, then the probabilities of downgrading U.S. credit are increased," Obama said. He continued, "And that will be an additional cloud over the economy and make it more difficult for us and more difficult for businesses to create jobs that the American people so desperately need." source ; http://www.nasdaq.com
President Obama, sounding at times exasperated that talks broke down with Boehner (R., Ohio), said no matter what happens, the debt ceiling must be raised. He said he'll tell that to congressional leaders Saturday when they meet at the White House.
The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013," Obama said. Boehner said he is " convinced" the debt ceiling will be raised.
But how can they be so confident?
"I am confident simply because I cannot believe that Congress would end up being that irresponsible that they would not send a package that avoids a self- inflicted wound to the economy at a time when things are so difficult," Obama said.
He also signaled he'd take the responsibility himself. "I'm happy to do it," Obama said.
Boehner also said Friday that, despite talks breaking down, he's "convinced" the debt ceiling will be raised.
Obama currently doesn't have the power to raise the debt ceiling without Congress. But a last-ditch option that is being discussed by Senate Majority Leader Harry Reid (D., Nev.) and Senate Minority Leader Mitch McConnell (R., Ky.) would give him power to request a boost in the debt ceiling. Then, though a series of complicated votes, only a minority of lawmakers would be required to raise it.
President Obama said he wants a clear understanding before the weekend ends of what the next move is. He said lawmakers need to recognize "that Wall Street will be opening on Monday and we better have some answers during the course of the next several days."
President Obama said he still wants to continue to try and find common ground on slashing the deficit. Only raising the debt ceiling, Obama warned, might not be enough to avoid a downgrading of U.S. debt.
"If we can't come up with a serious plan for actual deficit and debt reduction, and all we're doing is extending the debt ceiling for another six, seven, eight months, then the probabilities of downgrading U.S. credit are increased," Obama said. He continued, "And that will be an additional cloud over the economy and make it more difficult for us and more difficult for businesses to create jobs that the American people so desperately need." source ; http://www.nasdaq.com
State Bank of Hyderabad (SBH) Net Profit first quarter ended June 30 2011
State Bank of Hyderabad (SBH) Net Profit first quarter ended June 30 2011 : Public sector lender State Bank of Hyderabad (SBH) today reported a net profit of Rs 284 crore for the first quarter ended June 30, up 41.1% over the same period last fiscal.
The net interest income (NII) grew by 15.23% to Rs 713.49 crore during the quarter as compared to Rs 619.17 crore during the first quarter of 2010-11,
Deposits increased to Rs 92,616 crore in the April-June period, clocking a growth of 16.30% over the last year. Advances rose Rs 66,226 crore, up 21.53%.
Per-employee business increased to Rs 11.54 crore from Rs 9.82 crore as on June, 2010, a growth of over 17%, the lender said. Business per branch grew to Rs 119 crore from Rs 110 crore in the first quarter of FY11.
The SBH's branch network increased to 1,324 with the opening of 130 new ones during the last fiscal year. Another 150 branches are planned for the current financial year together with around 80 in un-banked centres, which will be furthering financial inclusion.
Over 4,000 officers and clerical staff are under the process of recruitment to take care not only of current needs but to be groomed for assuming greater responsibilities in the coming years
The net interest income (NII) grew by 15.23% to Rs 713.49 crore during the quarter as compared to Rs 619.17 crore during the first quarter of 2010-11,
Deposits increased to Rs 92,616 crore in the April-June period, clocking a growth of 16.30% over the last year. Advances rose Rs 66,226 crore, up 21.53%.
Per-employee business increased to Rs 11.54 crore from Rs 9.82 crore as on June, 2010, a growth of over 17%, the lender said. Business per branch grew to Rs 119 crore from Rs 110 crore in the first quarter of FY11.
The SBH's branch network increased to 1,324 with the opening of 130 new ones during the last fiscal year. Another 150 branches are planned for the current financial year together with around 80 in un-banked centres, which will be furthering financial inclusion.
Over 4,000 officers and clerical staff are under the process of recruitment to take care not only of current needs but to be groomed for assuming greater responsibilities in the coming years
stock market prediction for week 25 july 2011
stock market prediction for week 25 july 2011, stock market forecast july 25 2011, best stock to buy july 25 2011 ; Stocks closed lower for the second straight day on Friday, defying the surge in regional, European and US stocks after European leaders approved a second rescue package for Greece, as investors continued to book gains from mining stocks that benefited from record gold prices.
European and US stocks rallied overnight after European leaders approved a 109-billion-euro rescue package for Greece, to supplement a 110-billion-euro rescue plan set up by the European Union and the International Monetary Fund in May last year.
Blue-chip Dow Jones industrial average gained 1.2% or 152.50 points to 12,724.41, while the broader Standard and Poor’s 500 index added 1.4% or 17.96 points to 1,343.80. Tech-rich Nasdaq climbed by 0.7% or 20.20 points to 2,834.43.
Trading next week will depend on whether US lawmakers resolve an impasse on a higher borrowing cap or not.Unless the impasse between the US Congress and the White House is resolved, the optimism raised by Europe may soon wear off.
US Biotechs Seen Posting Strong 2Q Results
As large biotechnology companies begin to report second-quarter earnings next week, Wall Street is expecting strong results as price increases continue and prescription trends are stable. Investors will be listening for updates on full-year earnings outlooks, along with research-and-development updates. Weakness in the dollar during the quarter should help to boost overseas sales for companies in the sector.
Best Companies to wacth week july 25 - 29 2011 :
Biogen Idec Inc. (BIIB) - reports July 26 2011
Wall Street Expectations: Analysts expect earnings of $1.37 a share on revenue of $1.18 billion, according to Thomson Reuters. A year ago, earnings were $1.12 a share, or $1.31 a share excluding items, on revenue of $1.2 billion.
Key Issues: Biogen investors will be attentive for updates on flagship multiple-sclerosis drugs Avonex and Tysabri, sold with Elan Corp. (ELN). Also, expectations are high for the second set of late-stage data on Biogen's oral MS drug, BG-12, which is expected before year-end, along with important mid-stage data on another MS treatment, daclizumab. Observers may also look for marketing-strategy comments on MS pill Fampyra, which should get European conditional approval soon. The drug, developed by Acorda Therapeutics Inc. (ACOR) and licensed to Biogen for sales outside the U.S., is designed to improve walking by MS patients.
Gilead Sciences Inc. (GILD) - reports July 26 2011
Wall Street Expectations: Analysts expect earnings of 99 cents a share on revenue of $2.07 billion. A year ago, the company reported earnings of 79 cents a share, or 85 cents a share excluding items, on revenue of $1.93 billion a year ago.
Key Issues: Gilead, known for selling HIV drugs, is expected update its 2011 product-sales guidance and see a first-quarter benefit from increasing U.S. prices of several of its top-selling products in April. A price freeze for AIDS Drug Assistance Programs, or ADAPs, remains in effect. Investors will be looking to see if reduced state spending on drugs, through ADAPs, has resolved itself since the first quarter. The programs are federally and state-funded to make treatments available to patients without insurance or enough money.
Celgene Corp. (CELG) - reports July 28 2011
Wall Street Expectations: Analysts are expecting earnings of 87 cents a share on revenue of $1.12 billion. A year ago, Celgene reported earnings of 33 cents a share, or earnings of 69 cents excluding items, on revenue of $852.7 million.
Key Issues: Celgene will likely provide an update to its full-year financial projections along with details of its blood-cancer portfolio. Wall Street will be listening for plans to expand the approved uses of Revlimid and other pipeline developments, along with any commentary on the potential risk of secondary cancers in long-term Revlimid users. In its first-quarter results, Celgene said it expected generic competition for Vidaza to emerge in May. But that competition hasn't happened yet, something that may boost second-quarter results, and investors will be listening for updates.
Amgen Inc. (AMGN) - reports July 29 2011
Wall Street Expectations: Analysts predict earnings of $1.28 a share on revenue of $3.78 billion. A year ago, net income was $1.25 a share, or $1.38 excluding items, on revenue of $3.8 billion.
Key Issues: Amgen is expected to declare its first-ever dividend when it reports second-quarter results, estimated to be about 20% of adjusted net income, which should put the payout at a little more than a $1 per share a year. For the results themselves, Wall Street will be watching the continuing launch and development of osteoporosis drug Prolia along with Xgeva, which is the same as Prolia but used at a higher dose for cancer patients.
European and US stocks rallied overnight after European leaders approved a 109-billion-euro rescue package for Greece, to supplement a 110-billion-euro rescue plan set up by the European Union and the International Monetary Fund in May last year.
Blue-chip Dow Jones industrial average gained 1.2% or 152.50 points to 12,724.41, while the broader Standard and Poor’s 500 index added 1.4% or 17.96 points to 1,343.80. Tech-rich Nasdaq climbed by 0.7% or 20.20 points to 2,834.43.
Trading next week will depend on whether US lawmakers resolve an impasse on a higher borrowing cap or not.Unless the impasse between the US Congress and the White House is resolved, the optimism raised by Europe may soon wear off.
US Biotechs Seen Posting Strong 2Q Results
As large biotechnology companies begin to report second-quarter earnings next week, Wall Street is expecting strong results as price increases continue and prescription trends are stable. Investors will be listening for updates on full-year earnings outlooks, along with research-and-development updates. Weakness in the dollar during the quarter should help to boost overseas sales for companies in the sector.
Best Companies to wacth week july 25 - 29 2011 :
Biogen Idec Inc. (BIIB) - reports July 26 2011
Wall Street Expectations: Analysts expect earnings of $1.37 a share on revenue of $1.18 billion, according to Thomson Reuters. A year ago, earnings were $1.12 a share, or $1.31 a share excluding items, on revenue of $1.2 billion.
Key Issues: Biogen investors will be attentive for updates on flagship multiple-sclerosis drugs Avonex and Tysabri, sold with Elan Corp. (ELN). Also, expectations are high for the second set of late-stage data on Biogen's oral MS drug, BG-12, which is expected before year-end, along with important mid-stage data on another MS treatment, daclizumab. Observers may also look for marketing-strategy comments on MS pill Fampyra, which should get European conditional approval soon. The drug, developed by Acorda Therapeutics Inc. (ACOR) and licensed to Biogen for sales outside the U.S., is designed to improve walking by MS patients.
Gilead Sciences Inc. (GILD) - reports July 26 2011
Wall Street Expectations: Analysts expect earnings of 99 cents a share on revenue of $2.07 billion. A year ago, the company reported earnings of 79 cents a share, or 85 cents a share excluding items, on revenue of $1.93 billion a year ago.
Key Issues: Gilead, known for selling HIV drugs, is expected update its 2011 product-sales guidance and see a first-quarter benefit from increasing U.S. prices of several of its top-selling products in April. A price freeze for AIDS Drug Assistance Programs, or ADAPs, remains in effect. Investors will be looking to see if reduced state spending on drugs, through ADAPs, has resolved itself since the first quarter. The programs are federally and state-funded to make treatments available to patients without insurance or enough money.
Celgene Corp. (CELG) - reports July 28 2011
Wall Street Expectations: Analysts are expecting earnings of 87 cents a share on revenue of $1.12 billion. A year ago, Celgene reported earnings of 33 cents a share, or earnings of 69 cents excluding items, on revenue of $852.7 million.
Key Issues: Celgene will likely provide an update to its full-year financial projections along with details of its blood-cancer portfolio. Wall Street will be listening for plans to expand the approved uses of Revlimid and other pipeline developments, along with any commentary on the potential risk of secondary cancers in long-term Revlimid users. In its first-quarter results, Celgene said it expected generic competition for Vidaza to emerge in May. But that competition hasn't happened yet, something that may boost second-quarter results, and investors will be listening for updates.
Amgen Inc. (AMGN) - reports July 29 2011
Wall Street Expectations: Analysts predict earnings of $1.28 a share on revenue of $3.78 billion. A year ago, net income was $1.25 a share, or $1.38 excluding items, on revenue of $3.8 billion.
Key Issues: Amgen is expected to declare its first-ever dividend when it reports second-quarter results, estimated to be about 20% of adjusted net income, which should put the payout at a little more than a $1 per share a year. For the results themselves, Wall Street will be watching the continuing launch and development of osteoporosis drug Prolia along with Xgeva, which is the same as Prolia but used at a higher dose for cancer patients.
impact US. downgrade on gold prices
impact US. downgrade on gold prices : There are two factors that are driving gold prices up right now and each one has a reason for investors to be cautious," CPM Group exec Jeffrey Christian tells Mineweb. "On the one hand you have the macro economic factors, the US debt talks and the way - the extent to which the government in the United States seems to now be aware of the risks of its behaviour and the other one is Europe - those things, if the US government suffers a de facto much less a de jure, downgrading of its credit, that could have devastating consequences for the global economy and for everybody.
That could drive the gold price to $1,725. Now if they resolve these things and paper them over once more and that risk goes away gold doesn't go to $1,725, it could go to $1625 which is within $20 reach of where we are today - and that relates to the second factor which is you have the August Comex delivery period approaching and, as of yesterday, you had 28 million ounces of open interest in the August contract and that's going to have to be bought back on roll forward or delivered into and, between now and the end of July, that would cause upward pressure on gold. That's one of the factors there. Both of these things have risks for investors, so in the absence of the economic crisis you could see gold go up because of the Comex - in the absence of the Comex you could see gold go up because of the macro.
If the macro is resolved and the roll is behind us as of 1 August, both of those factors could disappear and take the legs off from underneath gold - I'll just say this, this is a very similar situation to what we saw in silver in April. In April you saw silver go from $37 to $49 and if you looked at the metrics people were not buying silver coins in particularly heavy levels - they were not buying silver through the bullion market or through ETFs. What was going on that was driving the price up was some futures purchases because of debt concerns in Europe and the United States and the roll of the May silver contract.
Gold ended the week at US$1,600/oz, up from US$1,594/oz a week ago. Silver climbed from US$36.71/oz to US$40.07/oz and platinum advanced from US$1,761/oz to US$1,791/oz.
Randgold Resources (LON:RRS) rallied from 5,465 pence to 5,595 pence over the past five days of trading, while FTSE 250 gold miner African Barrick Gold (LON:ABG) rose from 455 pence to 482 pence.
Blue chip silver miner Fresnillo (LON:FRES) surged from 1,625 pence to 1,681 pence.
However, FTSE 100 platinum producer Lonmin (LON:LMI) was headed in the opposite direction, falling from 1,345 pence a week ago to 1,331 pence.
That could drive the gold price to $1,725. Now if they resolve these things and paper them over once more and that risk goes away gold doesn't go to $1,725, it could go to $1625 which is within $20 reach of where we are today - and that relates to the second factor which is you have the August Comex delivery period approaching and, as of yesterday, you had 28 million ounces of open interest in the August contract and that's going to have to be bought back on roll forward or delivered into and, between now and the end of July, that would cause upward pressure on gold. That's one of the factors there. Both of these things have risks for investors, so in the absence of the economic crisis you could see gold go up because of the Comex - in the absence of the Comex you could see gold go up because of the macro.
If the macro is resolved and the roll is behind us as of 1 August, both of those factors could disappear and take the legs off from underneath gold - I'll just say this, this is a very similar situation to what we saw in silver in April. In April you saw silver go from $37 to $49 and if you looked at the metrics people were not buying silver coins in particularly heavy levels - they were not buying silver through the bullion market or through ETFs. What was going on that was driving the price up was some futures purchases because of debt concerns in Europe and the United States and the roll of the May silver contract.
Gold ended the week at US$1,600/oz, up from US$1,594/oz a week ago. Silver climbed from US$36.71/oz to US$40.07/oz and platinum advanced from US$1,761/oz to US$1,791/oz.
Randgold Resources (LON:RRS) rallied from 5,465 pence to 5,595 pence over the past five days of trading, while FTSE 250 gold miner African Barrick Gold (LON:ABG) rose from 455 pence to 482 pence.
Blue chip silver miner Fresnillo (LON:FRES) surged from 1,625 pence to 1,681 pence.
However, FTSE 100 platinum producer Lonmin (LON:LMI) was headed in the opposite direction, falling from 1,345 pence a week ago to 1,331 pence.
Effects of US default on stock market
Effects of US default on stock market ; If the United States runs short of cash to honor its obligations next month, the economic impact would be fast and furious.
The country almost certainly would not default on its loans to bond holders, but all other payments would be thrown into doubt. That could start a cascading effect on jobs, loans, investments, prices - virtually every facet of Americans' financial lives.
Would there be broader economic effects?
Almost certainly. The most likely is a rise in interest rates, prompted by a decline in the number of bidders for new Treasury bonds. That would raise the costs of home mortgages, student loans, credit cards and auto loans. It also would increase the federal deficit by raising interest rates on the debt.
What about personal investments?
If the economy goes into a swoon, the stock market will feel the effects, and your 401(k) and other accounts could take a beating.
How about jobs?
Again, it depends on how deep the economic impact, but certainly the unemployment rate could increase because of the federal dollars that are missing and the jolt to financial markets.
What would happen to the government's triple-A bond ratings?
All three major ratings agencies have sent warnings, but it's unclear whether they would downgrade the ratings unless the United States actually defaults on its bonds, which is unlikely.
How does our situation compare to other countries with debt problems, such as Greece?
It's not nearly as bad - but the trends are headed in that direction. The U.S. public debt - what we owe to private investors, much of it held overseas - is about 70 percent the size of the economy. Counting state and local debt, it's 93 percent. In Greece, it's about 130 percent.
How a US default will affect on stock market ?
The country almost certainly would not default on its loans to bond holders, but all other payments would be thrown into doubt. That could start a cascading effect on jobs, loans, investments, prices - virtually every facet of Americans' financial lives.
Would there be broader economic effects?
Almost certainly. The most likely is a rise in interest rates, prompted by a decline in the number of bidders for new Treasury bonds. That would raise the costs of home mortgages, student loans, credit cards and auto loans. It also would increase the federal deficit by raising interest rates on the debt.
What about personal investments?
If the economy goes into a swoon, the stock market will feel the effects, and your 401(k) and other accounts could take a beating.
How about jobs?
Again, it depends on how deep the economic impact, but certainly the unemployment rate could increase because of the federal dollars that are missing and the jolt to financial markets.
What would happen to the government's triple-A bond ratings?
All three major ratings agencies have sent warnings, but it's unclear whether they would downgrade the ratings unless the United States actually defaults on its bonds, which is unlikely.
How does our situation compare to other countries with debt problems, such as Greece?
It's not nearly as bad - but the trends are headed in that direction. The U.S. public debt - what we owe to private investors, much of it held overseas - is about 70 percent the size of the economy. Counting state and local debt, it's 93 percent. In Greece, it's about 130 percent.
How a US default will affect on stock market ?
effect debt ceiling on stock market
effect debt ceiling on stock market ; if you're like most Americans, the term "debt ceiling" probably didn't mean much to you until recently. Now, of course, the debt ceiling debate is front-page news, day after day. As a citizen, you're no doubt hoping the situation is resolved in the best interests of the country. But as an investor, you might be especially concerned about what could happen to your holdings, and your overall investment strategy, if the debt ceiling is not increased by the Aug. 2 deadline.
Before you consider how the situation might affect you, let's quickly review just what is meant by the term "debt ceiling" and what might happen if no agreement is reached. Essentially, the debt ceiling is the legal limit on borrowing by the federal government. If Congress doesn't increase the limit, borrowed funds wouldn't be available to pay bills, so the U.S. could be forced to default on its debt obligations, which would be unprecedented.
How a debt ceiling crash will affect US IT
But for IT, the economic uncertainties will bring a climate that IT is already familiar with: lots of rapid change. Short term, as the government increasingly loses cash flow, obligations likely can't or won't be paid, and may be partially paid or delayed. Geithner has wide latitude in the policies of what will be paid versus unpaid, versus paid in deferment. Read More...
How Congress' dithering on the debt ceiling is already dragging down the economy.
Yes, the stock market is up, and bond yields are low. And the government's borrowing costs remain cheap: Interest on a 10-year Treasury bond is less than 3 percent. But a closer look shows that Congress is starting to spook investors, business owners, and individuals. It has introduced a modicum of much-dreaded uncertainty into their lives. And when investors are uncertain and businesses are afraid, they hunker down in ways that are very bad for the economy. So Congress may not have succeeded in blowing up the markets just yet. But fear not. There are signs it is weakening the anemic recovery. Read More...
U.S. Stocks Retreat as Debt-Limit Concern Offsets Apple Earnings
U.S. stocks fell, a day after the best rally since March for the Standard & Poor’s 500 Index, as concern the government will fail to increase the debt limit overshadowed higher-than-estimated earnings at Apple Inc. (AAPL) Read More...
Fund Managers can't ignore debt ceiling politics
The possibility that stock and bond markets could be in for another jolt has Castagliuolo watching the ongoing developments in Washington as closely as he tracks Wall Street. Read More...
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Before you consider how the situation might affect you, let's quickly review just what is meant by the term "debt ceiling" and what might happen if no agreement is reached. Essentially, the debt ceiling is the legal limit on borrowing by the federal government. If Congress doesn't increase the limit, borrowed funds wouldn't be available to pay bills, so the U.S. could be forced to default on its debt obligations, which would be unprecedented.
How a debt ceiling crash will affect US IT
But for IT, the economic uncertainties will bring a climate that IT is already familiar with: lots of rapid change. Short term, as the government increasingly loses cash flow, obligations likely can't or won't be paid, and may be partially paid or delayed. Geithner has wide latitude in the policies of what will be paid versus unpaid, versus paid in deferment. Read More...
How Congress' dithering on the debt ceiling is already dragging down the economy.
Yes, the stock market is up, and bond yields are low. And the government's borrowing costs remain cheap: Interest on a 10-year Treasury bond is less than 3 percent. But a closer look shows that Congress is starting to spook investors, business owners, and individuals. It has introduced a modicum of much-dreaded uncertainty into their lives. And when investors are uncertain and businesses are afraid, they hunker down in ways that are very bad for the economy. So Congress may not have succeeded in blowing up the markets just yet. But fear not. There are signs it is weakening the anemic recovery. Read More...
U.S. Stocks Retreat as Debt-Limit Concern Offsets Apple Earnings
U.S. stocks fell, a day after the best rally since March for the Standard & Poor’s 500 Index, as concern the government will fail to increase the debt limit overshadowed higher-than-estimated earnings at Apple Inc. (AAPL) Read More...
Fund Managers can't ignore debt ceiling politics
The possibility that stock and bond markets could be in for another jolt has Castagliuolo watching the ongoing developments in Washington as closely as he tracks Wall Street. Read More...
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Friday, July 22, 2011
Netflix Inc. (NASDAQ:NFLX) Net Profit prediction
Netflix Inc. (NASDAQ:NFLX) Net Profit prediction : Shares of Netflix Inc. (NASDAQ:NFLX) are trading higher by +262.59% ahead of its quarterly earnings release. Netflix, the online video rental company is expected to release its quarterly results on July 25th 2011 .
Wall Street Analysts consensus calls for a profit of $1.11 a share on $790.49 million revenue.
Netflix estimates have a range of $0.15 a share. The high estimate calls for profit of $1.17 a share and the low estimate is calling for a profit of $1.02 a share, a year ago for the quarter the company reported $0.8 a share.
Netflix Inc. (NASDAQ:NFLX) is an online movie rental service. The company delivers its rentals by regular mail, using DVDs, or by its internet streaming service.
Other companies on the watch on this earnings event are Coinstar, Inc. NASDAQ:CSTR and Comcast Corporation NASDAQ:CMCSA.
This week Oppenheimer raised its target price on Netflix to $360 from $280 following announcements over expansion to the Latin America and the Caribbean and changes to its pricing plans, resulting in higher prices for members. The stock posted a new all-time high of $305.79 on July 13th.
Netflix Share prices 2011, Netflix stock prices forecast 2011, earning report july 25 2011. Netflix target price 2011.
Wall Street Analysts consensus calls for a profit of $1.11 a share on $790.49 million revenue.
Netflix estimates have a range of $0.15 a share. The high estimate calls for profit of $1.17 a share and the low estimate is calling for a profit of $1.02 a share, a year ago for the quarter the company reported $0.8 a share.
Netflix Inc. (NASDAQ:NFLX) is an online movie rental service. The company delivers its rentals by regular mail, using DVDs, or by its internet streaming service.
Other companies on the watch on this earnings event are Coinstar, Inc. NASDAQ:CSTR and Comcast Corporation NASDAQ:CMCSA.
This week Oppenheimer raised its target price on Netflix to $360 from $280 following announcements over expansion to the Latin America and the Caribbean and changes to its pricing plans, resulting in higher prices for members. The stock posted a new all-time high of $305.79 on July 13th.
Netflix Share prices 2011, Netflix stock prices forecast 2011, earning report july 25 2011. Netflix target price 2011.
NYSE and Nasdaq Top Gainers july 22 2011
NYSE and Nasdaq Top Gainers july 22 2011 : China Education Alliance, American Oriental, Altair Nanotechnologies, and China Wind Systems remained the top gainers for NYSE and Nasdaq for Friday morning. See how these stocks traded down below.
China Education Alliance, Inc. (Public, NYSE:CEU) shot up by 25.27% to trade at a price of $1.14 per stock, rising high above its opening price of $0.91. Overall traded volume increased as well to 765,245.00, its average volume being 116,992.00, while market capitalization stood at 36.80M, following an EPS of 0.35 and a P/E of 3.33.
American Oriental Bioengineering, Inc. (Public, NYSE:AOB) increased to a volume of 892,678.00, bypassing its average volume of 595,915.00, as the company itself increased by 6.67% to a price of $1.28. Market capitalization traded at 100.07M, alongside an EPS of 0.19 and a P/E of 6.87 after opening at a price of $1.23.
Altair Nanotechnologies, Inc. (Public, NASDAQ:ALTI) succeeding an opening price of $0.83, shooting up by 25.19% to a price of $1.01 for Friday morning. Volume increased to 819,352.00, surging past its average volume of 240,472.00. Market capitalization stood at 30.62M, following an EPS of -0.83.
China Wind Systems, Inc. (Public, NASDAQ:CLNT) experienced an increase of 16.67% to a price of $1.05 per stock after the company opened at $0.90. Volume increased as well to 294,726.00, bypassing its average volume of 153,769.00. P/E stood at 2.27, trailing a market capitalization stood at 20.11M and an EPS of 0.46.
China Education Alliance, Inc. (Public, NYSE:CEU) shot up by 25.27% to trade at a price of $1.14 per stock, rising high above its opening price of $0.91. Overall traded volume increased as well to 765,245.00, its average volume being 116,992.00, while market capitalization stood at 36.80M, following an EPS of 0.35 and a P/E of 3.33.
American Oriental Bioengineering, Inc. (Public, NYSE:AOB) increased to a volume of 892,678.00, bypassing its average volume of 595,915.00, as the company itself increased by 6.67% to a price of $1.28. Market capitalization traded at 100.07M, alongside an EPS of 0.19 and a P/E of 6.87 after opening at a price of $1.23.
Altair Nanotechnologies, Inc. (Public, NASDAQ:ALTI) succeeding an opening price of $0.83, shooting up by 25.19% to a price of $1.01 for Friday morning. Volume increased to 819,352.00, surging past its average volume of 240,472.00. Market capitalization stood at 30.62M, following an EPS of -0.83.
China Wind Systems, Inc. (Public, NASDAQ:CLNT) experienced an increase of 16.67% to a price of $1.05 per stock after the company opened at $0.90. Volume increased as well to 294,726.00, bypassing its average volume of 153,769.00. P/E stood at 2.27, trailing a market capitalization stood at 20.11M and an EPS of 0.46.
Hot US Stocks today july 22 2011, Caterpillar, McDonald's, Verizon, Advanced Micro Devices
Hot US Stocks today july 22 2011, Caterpillar, McDonald's, Verizon, Advanced Micro Devices : U.S. stocks traded lower Friday as the Dow Jones Industrial Average fell 71 points to 12653, the Standard & Poor's 500 lost 5.9 points to 1338 and the Nasdaq Composite slid 2.1 points to 2832. Among the companies whose shares are actively trading in the session are Caterpillar Inc. (CAT), McDonald's Corp. (MCD) and Verizon Communication Inc. (VZ).
Caterpillar's ($104.33, -$7.27, -6.51%) second-quarter earnings surged 44%, but fell short of expectations as rising costs linked to rapidly expanding sales of construction machinery and engines put pressure on margins. Rivals Deere & Co. (DE, $80.50, -$1.80, -2.19%) and Cummins Inc. (CMI, $105.93, -$1.65, -1.53%) also traded lower.
McDonald's ($88.95, +$2.41, +2.78%) better-than-expected second-quarter earnings rose 15% as the fast-food giant's new menu choices continued to drive sales. The company also expects July global same-store sales growth between 4% and 5%, easing from June's 7.7% increase.
Verizon Communication Inc. (VZ, $36.50, -$1.07, -2.84%) swung to a bigger-than-expected second-quarter profit, although it had fewer new Apple Inc. (AAPL, $389.98, +$2.69, +0.69%) iPhone subscribers than rival AT&T Inc. (T, $29.90, -$0.38, -1.25%), and the company formally named Lowell McAdam as chief executive, starting Aug. 1.
Advanced Micro Devices Inc. (AMD, $7.42, +$0.92, +14.15%) swung to a profit in the second quarter and provided strong guidance for the third quarter on hopes its new processors will gain traction in mainstream notebooks and servers, taking share from rival Intel Corp. (INTC, $22.99, +$0.18, +0.79%).
Edwards Lifesciences Corp.'s (EW, $76.90, -$5.65, -6.84%) second-quarter earnings edged up 1% as a sharp jump in sales of its specialized heart valves helped offset higher costs. But the company offered a weak outlook for the current quarter.
Caterpillar's ($104.33, -$7.27, -6.51%) second-quarter earnings surged 44%, but fell short of expectations as rising costs linked to rapidly expanding sales of construction machinery and engines put pressure on margins. Rivals Deere & Co. (DE, $80.50, -$1.80, -2.19%) and Cummins Inc. (CMI, $105.93, -$1.65, -1.53%) also traded lower.
McDonald's ($88.95, +$2.41, +2.78%) better-than-expected second-quarter earnings rose 15% as the fast-food giant's new menu choices continued to drive sales. The company also expects July global same-store sales growth between 4% and 5%, easing from June's 7.7% increase.
Verizon Communication Inc. (VZ, $36.50, -$1.07, -2.84%) swung to a bigger-than-expected second-quarter profit, although it had fewer new Apple Inc. (AAPL, $389.98, +$2.69, +0.69%) iPhone subscribers than rival AT&T Inc. (T, $29.90, -$0.38, -1.25%), and the company formally named Lowell McAdam as chief executive, starting Aug. 1.
Advanced Micro Devices Inc. (AMD, $7.42, +$0.92, +14.15%) swung to a profit in the second quarter and provided strong guidance for the third quarter on hopes its new processors will gain traction in mainstream notebooks and servers, taking share from rival Intel Corp. (INTC, $22.99, +$0.18, +0.79%).
Edwards Lifesciences Corp.'s (EW, $76.90, -$5.65, -6.84%) second-quarter earnings edged up 1% as a sharp jump in sales of its specialized heart valves helped offset higher costs. But the company offered a weak outlook for the current quarter.
Best Gold Stock to buy and target prices 2011, Analysts at Ambrian Capital
Best Gold Stock to buy and target prices 2011, Analysts at Ambrian Capital ; a good time to buy gold equities because they are undervalued compared to the price of physical gold. highlighted that although the gold price has been hitting record highs, of over US$1,600 an ounce, gold-focused mining equities were flat over the first half of the year.
We believe there are various factors that have contributed to this rapid rise, and we believe these same reasons will continue to keep gold prices high for some time to come.
The broker also featured other London listed gold stocks that it believes could rise :
Avocet Mining (LON:AVM) - "Buy", Target price 277 pence (current price 221.50 pence).
Duncan Hughes says the company has transformed itself, by switching its focus to West Africa this year, as it sold its southeast Asian mining assets. The analyst said: "The investment thesis is now about West African growth, and we firmly believe management can make this a 500,000 ounces per annum gold company within five years.
We value Avocet using a 1.3 times NAV (net asset value) for Inata and an insitu resource valuation for the Guinean resources at £553.3m., We believe resource and reserve upgrades, confidence in the West African political situation and production growth will act as catalysts to future share price growth."
Archipelago Resources (LON:AR.) - "Buy", Target price 72 pence (current price: 59 pence).
Adam Kiley said that a recent visit to the flagship, 1.7 million ounce, Toka Tindung project in Indonesia - reinforced Ambrian's belief that Archipelago will soon be producing 160,000 ounces of gold equivalent per annum. With a strategic major shareholder, we also believe there is a high possibility of corporate acquisitions focusing on other Indonesian gold projects,
The analyst believes the positive share price momentum for the remainder of this year would be driven by the continuing exploration success at Toka Tindung; an upgraded reserve/resource at Toka Tindung in late 2011; the continued ramp-up to full production; and achieving annualised rate of production in the fourth quarter of this year.
Centamin Egypt (LON:CEY) - "Buy", Target price 182 pence (current price: 138.10 pence).
Ambrian reckons Centamin's Sukari gold project, located in the desert 25 kilometres from the Red Sea, is one of the outstanding gold projects in the world that is currently not owned by a major producer.
A string of important announcements and events over the coming months will shape the remainder of 2011 for Centamin and influence its short-term share price,
Centamin has forecasted 2011 production to be between 250,000- 290,000 ounces of gold, at an average cash cost of US$450 per ounce. During the March quarter Centamin produced 45,204 ounces gold at a cash cost of US$525 per ounce.
Condor Resources (LON:CNR) - "Buy", Target price: 7 pence (current price: 5.00 pence).
Ambrian is encouraged by Condor's potential to grow the resources at La India, in Nicaragua. An aggressive 20,000 metre diamond drill programme is currently underway at the project, to expand the current resource.
We expect a number of high-grade gold intersections to be announced during 2011," Hughes said. A third resource upgrade is anticipated at La India later this year.
Crucially Hughes added that unlocking La India's potential was the key to realising Condor's growth potential.
Hambledon Mining (LON:HMB) - "Buy", Target price 8.5 pence (current price: 4.25 pence).
Hambledon should be worth £62 million, rather than its current market value of £55.76 million, according to Duncan Hughes. Since last March the company has demonstrated an improving production profile at its wholly-owned Sekisovskoye mine in Kazakhstan, the analyst added.
Hambledon is currently producing some 26,000 ounces per annum from an open pit at Sekisovskoye, Highlighting the successful turnaround, Hughes said: "Management has shown that it is able to improve production performance, which has historically been hampered by harsh winters and poor recoveries.
"The project is expected to hit first underground ore later this year and the firm recently raised £8.6 million to facilitate an efficient underground operation."
Mwana Africa (LON:MWA) - "Buy", Target price 20.5 pence (current price 4.66 pence).
The company is focused on gold, nickel and other base metals and diamonds in Zimbabwe, the DRC and South Africa. Ambrian looked forward to the anticipated restart of the Bindura Nickel Corporation, in Zimbabwe, which will be the only fully integrated nickel mining, smelting and refining complex in Africa.
Hughes reckons the operations will get a kick-start with the re-opening of the Trojan nickel mine next year. Meanwhile looking at the prospects for the rest of the project portfolio, The company’s exciting exploration portfolio potential is highlighted at the Zani-Kodo gold project in the DRC, with an initial resource of 1.25 million ounces at 3.53 g/t."
Ambrian values Mwana at £147.3million, which equates to 20.5p a share, and ash such the broker rates the stock as a 'buy'.
This punchy price target represents a massive 320 percent premium to the company’s current market price.
Nyota Minerals (LON: NYO: ASX:NYO) - "Hold", Current share price: 11.00 pence.
Investors seem to be up to speed with Nyota, which is developing the 1.38 million ounce Tulu Kapi gold project in Ethiopia, according to Ambrian.
The broker's peer group analysis gives a ‘fair market’ value of US75m, based on the current Tulu Kapi resource, which is close to Nyota's current market value.
However Hughes thinks there could still be plenty of gold for Nyto to find and this could drive the share price on further.
"The Western Highlands in which Tulu Kapi is located has all the hallmarks of a significant gold belt that could contain a number of +1Moz gold deposits," the analyst said.
Vatukoula Gold Mines (LON: VGM) - "Buy", Target Price 143 pence (current share price: 103.00 pence).
In the report Ambrian initiated coverage on the Fijian gold firm, with a bullish target.
The AIM-listed firm operates the Vatukoula Gold mine, which has been in operation for more than 70 years, and according to Ambrian, it could well be producing for 70 more - based on its current resource and the potential for further discoveries.
Ambrian Capital gives the stock a target price of 143 pence and said that the company was aware that it has disappointed the market over the past six months with falling production and rising cash costs.
"The share price will be driven over the coming year by ongoing exploration results, a production update due in September this year and another production update in December this year.Source http://www.proactiveinvestors.co.uk
We believe there are various factors that have contributed to this rapid rise, and we believe these same reasons will continue to keep gold prices high for some time to come.
The broker also featured other London listed gold stocks that it believes could rise :
Avocet Mining (LON:AVM) - "Buy", Target price 277 pence (current price 221.50 pence).
Duncan Hughes says the company has transformed itself, by switching its focus to West Africa this year, as it sold its southeast Asian mining assets. The analyst said: "The investment thesis is now about West African growth, and we firmly believe management can make this a 500,000 ounces per annum gold company within five years.
We value Avocet using a 1.3 times NAV (net asset value) for Inata and an insitu resource valuation for the Guinean resources at £553.3m., We believe resource and reserve upgrades, confidence in the West African political situation and production growth will act as catalysts to future share price growth."
Archipelago Resources (LON:AR.) - "Buy", Target price 72 pence (current price: 59 pence).
Adam Kiley said that a recent visit to the flagship, 1.7 million ounce, Toka Tindung project in Indonesia - reinforced Ambrian's belief that Archipelago will soon be producing 160,000 ounces of gold equivalent per annum. With a strategic major shareholder, we also believe there is a high possibility of corporate acquisitions focusing on other Indonesian gold projects,
The analyst believes the positive share price momentum for the remainder of this year would be driven by the continuing exploration success at Toka Tindung; an upgraded reserve/resource at Toka Tindung in late 2011; the continued ramp-up to full production; and achieving annualised rate of production in the fourth quarter of this year.
Centamin Egypt (LON:CEY) - "Buy", Target price 182 pence (current price: 138.10 pence).
Ambrian reckons Centamin's Sukari gold project, located in the desert 25 kilometres from the Red Sea, is one of the outstanding gold projects in the world that is currently not owned by a major producer.
A string of important announcements and events over the coming months will shape the remainder of 2011 for Centamin and influence its short-term share price,
Centamin has forecasted 2011 production to be between 250,000- 290,000 ounces of gold, at an average cash cost of US$450 per ounce. During the March quarter Centamin produced 45,204 ounces gold at a cash cost of US$525 per ounce.
Condor Resources (LON:CNR) - "Buy", Target price: 7 pence (current price: 5.00 pence).
Ambrian is encouraged by Condor's potential to grow the resources at La India, in Nicaragua. An aggressive 20,000 metre diamond drill programme is currently underway at the project, to expand the current resource.
We expect a number of high-grade gold intersections to be announced during 2011," Hughes said. A third resource upgrade is anticipated at La India later this year.
Crucially Hughes added that unlocking La India's potential was the key to realising Condor's growth potential.
Hambledon Mining (LON:HMB) - "Buy", Target price 8.5 pence (current price: 4.25 pence).
Hambledon should be worth £62 million, rather than its current market value of £55.76 million, according to Duncan Hughes. Since last March the company has demonstrated an improving production profile at its wholly-owned Sekisovskoye mine in Kazakhstan, the analyst added.
Hambledon is currently producing some 26,000 ounces per annum from an open pit at Sekisovskoye, Highlighting the successful turnaround, Hughes said: "Management has shown that it is able to improve production performance, which has historically been hampered by harsh winters and poor recoveries.
"The project is expected to hit first underground ore later this year and the firm recently raised £8.6 million to facilitate an efficient underground operation."
Mwana Africa (LON:MWA) - "Buy", Target price 20.5 pence (current price 4.66 pence).
The company is focused on gold, nickel and other base metals and diamonds in Zimbabwe, the DRC and South Africa. Ambrian looked forward to the anticipated restart of the Bindura Nickel Corporation, in Zimbabwe, which will be the only fully integrated nickel mining, smelting and refining complex in Africa.
Hughes reckons the operations will get a kick-start with the re-opening of the Trojan nickel mine next year. Meanwhile looking at the prospects for the rest of the project portfolio, The company’s exciting exploration portfolio potential is highlighted at the Zani-Kodo gold project in the DRC, with an initial resource of 1.25 million ounces at 3.53 g/t."
Ambrian values Mwana at £147.3million, which equates to 20.5p a share, and ash such the broker rates the stock as a 'buy'.
This punchy price target represents a massive 320 percent premium to the company’s current market price.
Nyota Minerals (LON: NYO: ASX:NYO) - "Hold", Current share price: 11.00 pence.
Investors seem to be up to speed with Nyota, which is developing the 1.38 million ounce Tulu Kapi gold project in Ethiopia, according to Ambrian.
The broker's peer group analysis gives a ‘fair market’ value of US75m, based on the current Tulu Kapi resource, which is close to Nyota's current market value.
However Hughes thinks there could still be plenty of gold for Nyto to find and this could drive the share price on further.
"The Western Highlands in which Tulu Kapi is located has all the hallmarks of a significant gold belt that could contain a number of +1Moz gold deposits," the analyst said.
Vatukoula Gold Mines (LON: VGM) - "Buy", Target Price 143 pence (current share price: 103.00 pence).
In the report Ambrian initiated coverage on the Fijian gold firm, with a bullish target.
The AIM-listed firm operates the Vatukoula Gold mine, which has been in operation for more than 70 years, and according to Ambrian, it could well be producing for 70 more - based on its current resource and the potential for further discoveries.
Ambrian Capital gives the stock a target price of 143 pence and said that the company was aware that it has disappointed the market over the past six months with falling production and rising cash costs.
"The share price will be driven over the coming year by ongoing exploration results, a production update due in September this year and another production update in December this year.Source http://www.proactiveinvestors.co.uk
Why Gold prices high, for over US$1,600 an ounce
Why Gold prices high, for over US$1,600 an ounce ; Gold prices reached a record high, hitting the US$1,600 per ounce mark for the first time, Prices were pushed up as United States politicians failed to reach an agreement on raising the debt ceiling and amid continued concerns over Europe's sovereign crisis.
And analysts said that the precious metal is likely to see more upside this week as market sentiment remains cautious.
Investors are increasingly looking to gold as a safe haven as the US dollar, pound sterling and the euro continue to devalue against stronger currencies such as those of Canada, Australia, Norway and Switzerland.
Meanwhile in the US, talks to raise the debt ceiling continued without signs of a compromise with ratings agencies warning of downgrades to the US triple A rating.
Amidst an environment of uncertainty, gold continues to benefit as a safe haven asset. A sustained breach of US$1,600 could see gold surge higher for the 11th consecutive session,
The broker said that this has happened for three main reasons - the weakness of the US dollar, the political instability in gold exploring/producing countries, and a general aversion to equities as an asset class. We expect gold prices to continue to rise,.
We believe there are various factors that have contributed to this rapid rise, and we believe these same reasons will continue to keep gold prices high for some time to come."
And analysts said that the precious metal is likely to see more upside this week as market sentiment remains cautious.
Investors are increasingly looking to gold as a safe haven as the US dollar, pound sterling and the euro continue to devalue against stronger currencies such as those of Canada, Australia, Norway and Switzerland.
Meanwhile in the US, talks to raise the debt ceiling continued without signs of a compromise with ratings agencies warning of downgrades to the US triple A rating.
Amidst an environment of uncertainty, gold continues to benefit as a safe haven asset. A sustained breach of US$1,600 could see gold surge higher for the 11th consecutive session,
The broker said that this has happened for three main reasons - the weakness of the US dollar, the political instability in gold exploring/producing countries, and a general aversion to equities as an asset class. We expect gold prices to continue to rise,.
We believe there are various factors that have contributed to this rapid rise, and we believe these same reasons will continue to keep gold prices high for some time to come."
McDonald's net income second-quarter 2011
McDonald's Corp.'s net income second-quarter 2011 : McDonald's Corp.'s (MCD) second-quarter earnings rose 15%, as the burger chain says it continues to build momentum, despite the economic headwinds challenging the fast-food industry.
McDonald's expects 4% to 5% growth globally in July same-store sales, which includes sales at restaurants open at least 13 months, even if temporarily closed. The summer boost follows a 5.6% same-store sales increase in the second quarter, led by strong results in June.
Shares of McDonald's rose 2.5% to $88.71 premarket and have risen 21% over the past year through Thursday's close.
McDonald's has consistently outperformed its competitors during and since the recession. Competitive pricing was part of what helped its growth during the economic downturn, but its increasingly diverse menu--ranging from value offerings to higher-margin products like blended-ice drinks, especially popular in the U.S.--have contributed to its positive results of late.
Same-store guest transactions increased 3.8% in the first half of the year, growing at about the same rate as last year.
U.S. same-store sales rose 4.5% in the second quarter. Internationally, where McDonald's is seen to have the most growth potential, same-store sales increased 5.9% in Europe and 5.2% in the Asia/Pacific, Middle East and Africa division.
Drive-throughs, delivery and extended hours in the AMPEA region continue to be key to McDonald's expansion.
But higher commodity costs continue to pressure margins. McDonald's expects commodity inflation to be between 4% and 4.5% in U.S. and Europe this year.
Earlier this month the company announced raises in some menu prices in China to help offset the continued food-cost and wage inflation in the country, which recently reached a three-year high.
In China, McDonald's is up against its American competitor, Yum Brands Inc. (YUM), which has achieved rapid expansion of its KFC chain in the country, including an 18% rise in same-restaurant sales in the second quarter. McDonald's does not break out its China results.
However, McDonald's continues to dominate Yum in the U.S., as its KFC, Taco Bell and Pizza Hut chains all experienced declining same-restaurant sales in the second quarter.
McDonald's reported a profit of $1.41 billion, or $1.35 a share, in the second quarter, up from $1.23 billion, or $1.13 a share, a year earlier. Revenue jumped 16% to $6.91 billion. Excluding currency fluctuations, the increase was 8%.
Analysts polled by Thomson Reuters had most recently forecast earnings of $1.28 on revenue of $6.65 billion. Operating margin edged up to 31.7% from 31%.
McDonald's expects 4% to 5% growth globally in July same-store sales, which includes sales at restaurants open at least 13 months, even if temporarily closed. The summer boost follows a 5.6% same-store sales increase in the second quarter, led by strong results in June.
Shares of McDonald's rose 2.5% to $88.71 premarket and have risen 21% over the past year through Thursday's close.
McDonald's has consistently outperformed its competitors during and since the recession. Competitive pricing was part of what helped its growth during the economic downturn, but its increasingly diverse menu--ranging from value offerings to higher-margin products like blended-ice drinks, especially popular in the U.S.--have contributed to its positive results of late.
Same-store guest transactions increased 3.8% in the first half of the year, growing at about the same rate as last year.
U.S. same-store sales rose 4.5% in the second quarter. Internationally, where McDonald's is seen to have the most growth potential, same-store sales increased 5.9% in Europe and 5.2% in the Asia/Pacific, Middle East and Africa division.
Drive-throughs, delivery and extended hours in the AMPEA region continue to be key to McDonald's expansion.
But higher commodity costs continue to pressure margins. McDonald's expects commodity inflation to be between 4% and 4.5% in U.S. and Europe this year.
Earlier this month the company announced raises in some menu prices in China to help offset the continued food-cost and wage inflation in the country, which recently reached a three-year high.
In China, McDonald's is up against its American competitor, Yum Brands Inc. (YUM), which has achieved rapid expansion of its KFC chain in the country, including an 18% rise in same-restaurant sales in the second quarter. McDonald's does not break out its China results.
However, McDonald's continues to dominate Yum in the U.S., as its KFC, Taco Bell and Pizza Hut chains all experienced declining same-restaurant sales in the second quarter.
McDonald's reported a profit of $1.41 billion, or $1.35 a share, in the second quarter, up from $1.23 billion, or $1.13 a share, a year earlier. Revenue jumped 16% to $6.91 billion. Excluding currency fluctuations, the increase was 8%.
Analysts polled by Thomson Reuters had most recently forecast earnings of $1.28 on revenue of $6.65 billion. Operating margin edged up to 31.7% from 31%.
Caterpillar report sales and revenues Second-quarter 2011
Caterpillar report sales and revenues Second-quarter 2011 ; Second-quarter earnings by Caterpillar Inc. were 37 percent higher than last year, the company reported Second-quarter sales and revenues of $14.2 billion were an all-time record, topping last year’s second-quarter total of $10.4 million.
Profit per share was $1.52 in the second quarter of 2011, or $1.72 per share excluding acquisition costs incurred with the recent purchase of Bucyrus, the Milwaukee-based mining firm.
Caterpillar also announced it was raising its 2011 outlook for both sales and revenues and profit — excluding the Bucyrus acquisition. The 2011 sales and revenues outlook is now expected to be in the range of $54 to $56 billion, up from a range of $52 to $54 billion.
Bucyrus is expected to add $2 billion in sales in 2011, reported Caterpillar.
Machinery sales increased more than 30 percent while manufacturing costs increased less than 4 percent, the company noted.
Caterpillar worldwide full-time employment was 108,175 at the end of the second quarter of 2011 compared with 97,487 at the end of the second quarter of 2010, an increase of 10,688 full-time employees.
Profit per share was $1.52 in the second quarter of 2011, or $1.72 per share excluding acquisition costs incurred with the recent purchase of Bucyrus, the Milwaukee-based mining firm.
Caterpillar also announced it was raising its 2011 outlook for both sales and revenues and profit — excluding the Bucyrus acquisition. The 2011 sales and revenues outlook is now expected to be in the range of $54 to $56 billion, up from a range of $52 to $54 billion.
Bucyrus is expected to add $2 billion in sales in 2011, reported Caterpillar.
Machinery sales increased more than 30 percent while manufacturing costs increased less than 4 percent, the company noted.
Caterpillar worldwide full-time employment was 108,175 at the end of the second quarter of 2011 compared with 97,487 at the end of the second quarter of 2010, an increase of 10,688 full-time employees.
Newport Bancorp Inc. (NFSB: News ) reported second-quarter net income 2011
Newport Bancorp Inc. (NFSB: News ) reported second-quarter net income of $439 thousand or $0.13 per share, down from $501 thousand or $0.14 per share in the year ago quarter.
Net interest income for the quarter was $3.76 million compared to $3.77 million in the prior year quarter. Total non-interest income was $605 thousand, down from $622 thousand in year ago quarter.
For the six months ended June 30, 2011, the Company reported net income of $740 or $0.22 per share , compared to $602 thousand or $0.17 per share, for the six months ended June 30, 2010. Net interest income was $7.6 million, compared to $7.4 million for six months ended June 30, 2010. Total non-interest income was $1.16 million, up from $943 thousand in year ago quarter.
NFSB: News stock prices prediction 2011, NFSB: News shares prices forecast 2011,
Net interest income for the quarter was $3.76 million compared to $3.77 million in the prior year quarter. Total non-interest income was $605 thousand, down from $622 thousand in year ago quarter.
For the six months ended June 30, 2011, the Company reported net income of $740 or $0.22 per share , compared to $602 thousand or $0.17 per share, for the six months ended June 30, 2010. Net interest income was $7.6 million, compared to $7.4 million for six months ended June 30, 2010. Total non-interest income was $1.16 million, up from $943 thousand in year ago quarter.
NFSB: News stock prices prediction 2011, NFSB: News shares prices forecast 2011,
Crude oil futures prices outlook july 22 2011
Crude oil futures prices outlook july 22 2011 ; Crude oil futures prices were slightly weaker Friday after a run to triple digits stalled out Friday amid anticipation of coming increases in U.S. petroleum inventories.
Traders said that without fresh U.S. economic data on Friday's calendar, interest was thin, with players reassessing positions after prices rose to a seven-week high above $100 a barrel on Thursday, but failed to settle above that level.
The euro held much of its strong gains made against the dollar on Thursday after a new bailout plan for Greece buoyed the outlook for euro zone economies. Normally weakness in the dollar would spark buying interest in dollar-denominated commodities like oil by investors using other currencies. But traders said a weaker tone in U.S. stock index futures Friday, on the heels of the highest close in the Dow Jones Industrial Average, after the highest close since May 10, was keeping oil buyers at bay.
Light, sweet crude oil futures for September delivery on the New York Mercantile Exchange was 40 cents lower at $98.73 a barrel, after trading in a range of $98.43 to $99.83 a barrel. ICE September Brent crude was 22 cents higher, at $117.73 a barrel.
Deliveries of some 30.64 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve have begun and are expected to begin showing up in weekly oil inventory data in coming weeks, traders said. Some 8.7 million barrels of the crude is expected to ship by the end of July and begin refilling stocks which fell by 22 million barrels over the past seven weeks.
The market was buoyed by news Thursday that the International Energy Agency doesn't now plan a further oil sale beyond the current move, which released 60 million barrels into the market, the bulk of which came from the U.S. The IEA said the release, needed to cover oil supplies lost as a result of the ongoing Libyan civil war, and higher output from the Organization of Petroleum Exporting Countries, has improved the supply outlook for the second half of the year.
But those barrels will be arriving at refineries as demand for key petroleum products like gasoline remains weak amid rising prices in the peak summer demand season. U.S. data show demand of just over 9 million barrels a day in the week ended July 15 was more than 400,000 barrels a day below a year ago. AAA Daily Fuel Gauge reports said Friday the national average retail price for regular gasoline was $3.695 a gallon, up 2.8 cents from a week earlier.
Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill., said the SPR oil could cause a counter-seasonal rise in crude stocks, especially in the main Gulf Coast refining region.
Still, he said that Thursday's push to $100 a barrel intraday appears to have stirred new commodity fund buying interest which could spark further gains next week, especially if the White House and Congressional leaders can hammer out an agreement on the U.S. debt. In the near-term, Ritterbusch said crude is likely to follow the lead of the stock market.
August-delivery reformulated gasoline futures were 0.88 cent higher at $3.1083 a gallon, while August heating oil futures were 1.08 cent higher at $3.11 a gallon.
Traders said that without fresh U.S. economic data on Friday's calendar, interest was thin, with players reassessing positions after prices rose to a seven-week high above $100 a barrel on Thursday, but failed to settle above that level.
The euro held much of its strong gains made against the dollar on Thursday after a new bailout plan for Greece buoyed the outlook for euro zone economies. Normally weakness in the dollar would spark buying interest in dollar-denominated commodities like oil by investors using other currencies. But traders said a weaker tone in U.S. stock index futures Friday, on the heels of the highest close in the Dow Jones Industrial Average, after the highest close since May 10, was keeping oil buyers at bay.
Light, sweet crude oil futures for September delivery on the New York Mercantile Exchange was 40 cents lower at $98.73 a barrel, after trading in a range of $98.43 to $99.83 a barrel. ICE September Brent crude was 22 cents higher, at $117.73 a barrel.
Deliveries of some 30.64 million barrels of crude oil sold from the U.S. Strategic Petroleum Reserve have begun and are expected to begin showing up in weekly oil inventory data in coming weeks, traders said. Some 8.7 million barrels of the crude is expected to ship by the end of July and begin refilling stocks which fell by 22 million barrels over the past seven weeks.
The market was buoyed by news Thursday that the International Energy Agency doesn't now plan a further oil sale beyond the current move, which released 60 million barrels into the market, the bulk of which came from the U.S. The IEA said the release, needed to cover oil supplies lost as a result of the ongoing Libyan civil war, and higher output from the Organization of Petroleum Exporting Countries, has improved the supply outlook for the second half of the year.
But those barrels will be arriving at refineries as demand for key petroleum products like gasoline remains weak amid rising prices in the peak summer demand season. U.S. data show demand of just over 9 million barrels a day in the week ended July 15 was more than 400,000 barrels a day below a year ago. AAA Daily Fuel Gauge reports said Friday the national average retail price for regular gasoline was $3.695 a gallon, up 2.8 cents from a week earlier.
Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill., said the SPR oil could cause a counter-seasonal rise in crude stocks, especially in the main Gulf Coast refining region.
Still, he said that Thursday's push to $100 a barrel intraday appears to have stirred new commodity fund buying interest which could spark further gains next week, especially if the White House and Congressional leaders can hammer out an agreement on the U.S. debt. In the near-term, Ritterbusch said crude is likely to follow the lead of the stock market.
August-delivery reformulated gasoline futures were 0.88 cent higher at $3.1083 a gallon, while August heating oil futures were 1.08 cent higher at $3.11 a gallon.
ETFs ideas with decent Bakken Shale exposure
ETFs ideas with decent Bakken Shale exposure ; The Bakken Shale is one of the energy sector's hottest buzzwords these days and with good reason. Most U.S. shale plays are rich in natural gas, but not so much in oil. The north side of the Eagleford Shale in South Texas, which we proffered up some ETF plays on several weeks ago, is certainly oily, but the undisputed king of U.S. oil shale plays is the Bakken Shale.
Most of the Bakken's oil reserves, which are estimated to be 4.3 billion barrels, are found in North Dakota and that has helped the rural state sport one of the lowest unemployment rates in the U.S. and climb to fourth among the top oil-producing states.
If current production levels hold, North Dakota could jump California and Alaska to take the number two spot behind Texas within the next decade, according to the Wall Street Journal.
That's good news for North Dakota and even better news for investors is that they don't need to invest in speculative pump-and-dump penny stocks to gain Bakken exposure. Here are some ETF ideas with decent Bakken Shale exposure.
1) SPDR Energy Select Sector SPDR (NYSE: XLE): Yes, XLE is heavily allocated to traditional integrated oil names, but it is a relevant Bakken play as EOG Resources (NYSE: EOG [FREE Stock Trend Analysis]) and Hess (NYSE: HES) are two of the biggest Bakken players and Chesapeake Energy (NYSE: CHK) has some Bakken acreage as well. Beyond the producers, XLE's exposure to Halliburton (NYSE: HAL [FREE Stock Trend Analysis]) and National Oilwell Varco (NYSE: NOV) is significant because those two will be among the companies providing oilfield services in Bakken.
2) SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP): Given XOP's exposure to a broad swath of E&P companies, the ETF is a legitimate candidate to make any list of ETF shale plays and it did make an appearance on our Eagleford list. Even with that, XOP is a legit Bakken play because it is one of a just few ETFs that offer exposure to Brigham Exploration (Nasdaq: BEXP [FREE Stock Trend Analysis]) and Whiting Petroleum (NYSE: WTL), two of the biggest Bakken players. Hess and Chesapeake also find homes here.
3) iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (NYSE: IEO): XOP's chief rival, IEO features EOG and Chesapeake in its top six holdings with the largest weight to EOG of any ETF. Brigham and Whiting are also found here, and albeit slight, IEO does at least offer some exposure to Continental Resources (NYSE: CLR), another big Bakken name.
4) PowerShares Dynamic Energy Exploration & Production Portfolio (NYSE: PXE [FREE Stock Trend Analysis]): As several of the above ETFs do, PXE features weights to Marathon Oil (NYSE: MRO) and Murphy Oil (NYSE: MUR), which have significant Bakken acreage, but those two names combine for over PXE's weight, making this a sound Bakken option.
Most of the Bakken's oil reserves, which are estimated to be 4.3 billion barrels, are found in North Dakota and that has helped the rural state sport one of the lowest unemployment rates in the U.S. and climb to fourth among the top oil-producing states.
If current production levels hold, North Dakota could jump California and Alaska to take the number two spot behind Texas within the next decade, according to the Wall Street Journal.
That's good news for North Dakota and even better news for investors is that they don't need to invest in speculative pump-and-dump penny stocks to gain Bakken exposure. Here are some ETF ideas with decent Bakken Shale exposure.
1) SPDR Energy Select Sector SPDR (NYSE: XLE): Yes, XLE is heavily allocated to traditional integrated oil names, but it is a relevant Bakken play as EOG Resources (NYSE: EOG [FREE Stock Trend Analysis]) and Hess (NYSE: HES) are two of the biggest Bakken players and Chesapeake Energy (NYSE: CHK) has some Bakken acreage as well. Beyond the producers, XLE's exposure to Halliburton (NYSE: HAL [FREE Stock Trend Analysis]) and National Oilwell Varco (NYSE: NOV) is significant because those two will be among the companies providing oilfield services in Bakken.
2) SPDR S&P Oil & Gas Exploration & Production ETF (NYSE: XOP): Given XOP's exposure to a broad swath of E&P companies, the ETF is a legitimate candidate to make any list of ETF shale plays and it did make an appearance on our Eagleford list. Even with that, XOP is a legit Bakken play because it is one of a just few ETFs that offer exposure to Brigham Exploration (Nasdaq: BEXP [FREE Stock Trend Analysis]) and Whiting Petroleum (NYSE: WTL), two of the biggest Bakken players. Hess and Chesapeake also find homes here.
3) iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (NYSE: IEO): XOP's chief rival, IEO features EOG and Chesapeake in its top six holdings with the largest weight to EOG of any ETF. Brigham and Whiting are also found here, and albeit slight, IEO does at least offer some exposure to Continental Resources (NYSE: CLR), another big Bakken name.
4) PowerShares Dynamic Energy Exploration & Production Portfolio (NYSE: PXE [FREE Stock Trend Analysis]): As several of the above ETFs do, PXE features weights to Marathon Oil (NYSE: MRO) and Murphy Oil (NYSE: MUR), which have significant Bakken acreage, but those two names combine for over PXE's weight, making this a sound Bakken option.
Best Canadian stocks to buy july 22 2011
Best canada stocks to buy july 22 2011 ; Listed below are the stocks expected to move during Friday's trading session. They are listed with Thursday's closing prices.
Dundee REIT (D.UN.T, C$33.30, C$0.45, 1.4%) will buy a portfolio of 29 office properties in Canada from Blackstone Real Estate Advisors and Slate Properties for C$831.8 million, and sell five of the properties to third parties for C$142 million. RBC called the acquisition a "very good strategic fit" for Dundee.
TMX Group Inc. (X.T, C$43.90, unchanged) said its board is allowing it to hold talks with Maple Group Acquisition Corp. regarding Maple's hostile offer. The board is making no recommendation to shareholders on Maple's offer.
Lundin Mining Corp. (LUN.T, C$7.21, -C$0.04, -0.6%) cut its production targets for the full year after second-quarter output at its Neves Corvo operation in Portugal came in below expectations. TD cuts its rating on the stock to hold from buy.
Celestica Inc. (CLS, C$8.04, -C$0.14, -1.7%) posted an adjusted profit of 27 cents in the second quarter, above analyst expectations. Revenue rose to $1.83 billion and also beat estimates.
Vitran Corp. (VTNC, C$10.38, -C$0.07, -0.7%) posted a 23% increase in second-quarter revenue but swung to a loss, noting that its U.S. operations experienced challenges.
Precision Drilling Corp. (PDS, C$15.39, C$0.22, 1.5%) said its Canadian activity was frustrated by an exceptionally wet spring, but that its U.S. operations delivered strong results. The company swung to a profit from a year-ago loss.
West Fraser Timber Co. (WFT.T, C$50.94, -C$0.06, -0.1%) said lumber prices in the second half of the year are expected to be lower than in the first half as low U.S. housing starts continue to limit demand. The company posted weaker-than-exected second-quarter financial reults.
Allied Properties (AP.UN.T, C$24.03, C$0.34, 1.4%) plans a C$90 million offering at C$23.50 a unit. It also will acquire C$179 million of properties.
Dundee REIT (D.UN.T, C$33.30, C$0.45, 1.4%) will buy a portfolio of 29 office properties in Canada from Blackstone Real Estate Advisors and Slate Properties for C$831.8 million, and sell five of the properties to third parties for C$142 million. RBC called the acquisition a "very good strategic fit" for Dundee.
TMX Group Inc. (X.T, C$43.90, unchanged) said its board is allowing it to hold talks with Maple Group Acquisition Corp. regarding Maple's hostile offer. The board is making no recommendation to shareholders on Maple's offer.
Lundin Mining Corp. (LUN.T, C$7.21, -C$0.04, -0.6%) cut its production targets for the full year after second-quarter output at its Neves Corvo operation in Portugal came in below expectations. TD cuts its rating on the stock to hold from buy.
Celestica Inc. (CLS, C$8.04, -C$0.14, -1.7%) posted an adjusted profit of 27 cents in the second quarter, above analyst expectations. Revenue rose to $1.83 billion and also beat estimates.
Vitran Corp. (VTNC, C$10.38, -C$0.07, -0.7%) posted a 23% increase in second-quarter revenue but swung to a loss, noting that its U.S. operations experienced challenges.
Precision Drilling Corp. (PDS, C$15.39, C$0.22, 1.5%) said its Canadian activity was frustrated by an exceptionally wet spring, but that its U.S. operations delivered strong results. The company swung to a profit from a year-ago loss.
West Fraser Timber Co. (WFT.T, C$50.94, -C$0.06, -0.1%) said lumber prices in the second half of the year are expected to be lower than in the first half as low U.S. housing starts continue to limit demand. The company posted weaker-than-exected second-quarter financial reults.
Allied Properties (AP.UN.T, C$24.03, C$0.34, 1.4%) plans a C$90 million offering at C$23.50 a unit. It also will acquire C$179 million of properties.
top pre-market NASDAQ Stock Market gainers july 22 2011
top pre-market NASDAQ Stock Market gainers july 22 2011 , The top pre-market NASDAQ Stock Market gainers are: athenahealth, Skyworks Solutions, SmartHeat, Ryanair Holdings, and SanDisk.
athenahealth, Inc. (ATHN) stock jumped 9.37 percent to $53.13 in the pre-market trading. Adjusted profit for the second quarter was $7.89 million or $0.22 per share, up from $4.10 million or $0.12 per share last year. Revenue grew 33 percent to $77.89 million. Analysts had expected profit of $0.18 per share on revenue of $75.08 million. For the fiscal 2011, the company increased its adjusted earnings guidance to range of $0.70 to $0.83 per share from previous forecast of $0.68 to $0.78 per share. The company also raised its 2011 revenue outlook to range of $315 million to $325 million from previous range of $300 million to $315 million. Street analysts predict profit of $0.81 per share on revenue of $312.37 million.
Separately, athenahealth said it agreed to acquire Proxsys, LLC, a leading provider of cloud-based care coordination services between physicians and hospitals, for about $28 million plus milestone benefits, in order to accelerates the development of athenahealth's emerging care coordination service, now known as athenaCoordinator. The deal is expected to close in the third quarter of 2011.
Skyworks Solutions Inc. (SWKS) stock grew 9.26 percent to $24.78 in the pre-market trading. Adjusted profit for the third quarter was $93.0 million or $0.49 per share, up from $58.7 million or $0.32 per share last year. Revenue rose to $356.1 million from $275.4 million. Analysts had expected profit of $0.46 per share on revenue of $345.24 million. For the fourth quarter, the company expects adjusted earnings of $0.53 per share and revenue of $400 million, while Street predicts profit of $0.50 per share on revenue of $369.18 million.
SmartHeat Inc. (HEAT) stock gained 6.25 percent to $2.04 in the pre-market trading.
Ryanair Holdings plc (RYAAY) stock increased 5.20 percent to $28.30 in the pre-market trading.
SanDisk Corp. (SNDK) stock rose 3.82 percent to $43.16 in the pre-market trading. Profit for the second quarter was $248.39 million or $1.02 per share, down from $257.89 million or $1.08 per share last year. Adjusted earnings were $278 million or $1.14 per share, up from $258 million or $1.08 per share last year. Revenue rose to $1.38 billion from $1.18 billion. Analysts had expected profit of $0.99 per share on revenue of $1.34 billion.
athenahealth, Inc. (ATHN) stock jumped 9.37 percent to $53.13 in the pre-market trading. Adjusted profit for the second quarter was $7.89 million or $0.22 per share, up from $4.10 million or $0.12 per share last year. Revenue grew 33 percent to $77.89 million. Analysts had expected profit of $0.18 per share on revenue of $75.08 million. For the fiscal 2011, the company increased its adjusted earnings guidance to range of $0.70 to $0.83 per share from previous forecast of $0.68 to $0.78 per share. The company also raised its 2011 revenue outlook to range of $315 million to $325 million from previous range of $300 million to $315 million. Street analysts predict profit of $0.81 per share on revenue of $312.37 million.
Separately, athenahealth said it agreed to acquire Proxsys, LLC, a leading provider of cloud-based care coordination services between physicians and hospitals, for about $28 million plus milestone benefits, in order to accelerates the development of athenahealth's emerging care coordination service, now known as athenaCoordinator. The deal is expected to close in the third quarter of 2011.
Skyworks Solutions Inc. (SWKS) stock grew 9.26 percent to $24.78 in the pre-market trading. Adjusted profit for the third quarter was $93.0 million or $0.49 per share, up from $58.7 million or $0.32 per share last year. Revenue rose to $356.1 million from $275.4 million. Analysts had expected profit of $0.46 per share on revenue of $345.24 million. For the fourth quarter, the company expects adjusted earnings of $0.53 per share and revenue of $400 million, while Street predicts profit of $0.50 per share on revenue of $369.18 million.
SmartHeat Inc. (HEAT) stock gained 6.25 percent to $2.04 in the pre-market trading.
Ryanair Holdings plc (RYAAY) stock increased 5.20 percent to $28.30 in the pre-market trading.
SanDisk Corp. (SNDK) stock rose 3.82 percent to $43.16 in the pre-market trading. Profit for the second quarter was $248.39 million or $1.02 per share, down from $257.89 million or $1.08 per share last year. Adjusted earnings were $278 million or $1.14 per share, up from $258 million or $1.08 per share last year. Revenue rose to $1.38 billion from $1.18 billion. Analysts had expected profit of $0.99 per share on revenue of $1.34 billion.
Pre-market stock Losers on July 22, 2011, CR Bard, Caterpillar, Cummins, Verizon Communications, FLIR Systems, Deere and Honeywell International
Pre-market stock Losers on July 22, 2011 ; The companies whose shares are declining in pre-market trade on Friday are: CR Bard, Caterpillar, Cummins, Verizon Communications, FLIR Systems, Deere and Honeywell International.
CR Bard Inc. (NYSE:BCR) shares slumped 7.28 percent to $104.50 in pre-market trading session. The company swung to second quarter net loss of $47.80 million or $0.55 per share compared to net income of $124.60 million or $1.29 per share in the same quarter a year-ago.
Caterpillar Inc. (NYSE:CAT) shares plunged 6.36 percent to $104.75 in pre-market trading session as its second quarter earnings missed analysts’ estimates. Net income rose 44 percent to $1.02 billion or $1.52 per share compared to $707 million or $1.09 per share in the same period a year-ago.
Excluding $204 million of expense related to the acquisition of Bucyru, the company reported second quarter net income of $1.72 per share compared to analysts’ estimation of $1.79 per share. Sales and revenue rose 37 percent to $14.23 billion in the second quarter. The company currently expects fiscal 2011 earnings to be in the range of $6.75 to $7.25 per share on revenue of $54 to $56 billion.
Cummins Inc. (NYSE:CMI) shares declined 1.69 percent to $105.75 in pre-market trading session.
Verizon Communications Inc. (NYSE:VZ) shares declined 0.05 percent to $37.55 in pre-market trading session. The company swung to second quarter net profit of $1.61 billion or $0.57 per share compared to net loss of $1.19 billion or $0.42 per share in the same quarter last year. The company also named Lowell C. McAdam, current chief operating officer, as its new CEO.
FLIR Systems Inc. (NASDAQ:FLIR) shares declined 3.39 percent to $27.75 in pre-market trading session. Its second quarter net income declined to $29.3 million or $0.18 per share from $59.5 million or $0.37 per share in the same period a year-ago.
Deere & Co. (NYSE:DE) shares declined 1.6 percent to $80.98 in pre-market trading session.
Honeywell International Inc. (NYSE:HON) shares declined 1.39 percent to $57.40 in pre-market trading session. Its second quarter net profit rose to $810 million or $1.02 per share from $566 million or $0.73 per share in the same quarter last year.
CR Bard Inc. (NYSE:BCR) shares slumped 7.28 percent to $104.50 in pre-market trading session. The company swung to second quarter net loss of $47.80 million or $0.55 per share compared to net income of $124.60 million or $1.29 per share in the same quarter a year-ago.
Caterpillar Inc. (NYSE:CAT) shares plunged 6.36 percent to $104.75 in pre-market trading session as its second quarter earnings missed analysts’ estimates. Net income rose 44 percent to $1.02 billion or $1.52 per share compared to $707 million or $1.09 per share in the same period a year-ago.
Excluding $204 million of expense related to the acquisition of Bucyru, the company reported second quarter net income of $1.72 per share compared to analysts’ estimation of $1.79 per share. Sales and revenue rose 37 percent to $14.23 billion in the second quarter. The company currently expects fiscal 2011 earnings to be in the range of $6.75 to $7.25 per share on revenue of $54 to $56 billion.
Cummins Inc. (NYSE:CMI) shares declined 1.69 percent to $105.75 in pre-market trading session.
Verizon Communications Inc. (NYSE:VZ) shares declined 0.05 percent to $37.55 in pre-market trading session. The company swung to second quarter net profit of $1.61 billion or $0.57 per share compared to net loss of $1.19 billion or $0.42 per share in the same quarter last year. The company also named Lowell C. McAdam, current chief operating officer, as its new CEO.
FLIR Systems Inc. (NASDAQ:FLIR) shares declined 3.39 percent to $27.75 in pre-market trading session. Its second quarter net income declined to $29.3 million or $0.18 per share from $59.5 million or $0.37 per share in the same period a year-ago.
Deere & Co. (NYSE:DE) shares declined 1.6 percent to $80.98 in pre-market trading session.
Honeywell International Inc. (NYSE:HON) shares declined 1.39 percent to $57.40 in pre-market trading session. Its second quarter net profit rose to $810 million or $1.02 per share from $566 million or $0.73 per share in the same quarter last year.
NYSE AMD stock prices prediction
NYSE AMD stock prices prediction : Advanced Micro Devices, Inc. (NYSE:AMD) shares climbed 8 percent to $7.02 in pre-market trading session. The company swung to second quarter net profit of $61 million or $0.08 per share compared to a net loss of $43 million or $0.06 per share in the same quarter last year. The company expects revenue to increase around 10 percent sequentially in the third quarter.
Company Earning Report july 22 2011
Company Earning Report july 22 2011 : During regular trading hours and after hours, there were many stocks that continued to break out to the upside and downside in their earning news.,
Ticker Company Earning Date
DOV, Dover Corp. 7/22/2011 7:00
COL, Rockwell Collins Inc. 7/22/2011 7:30
APD, Air Products & Chemicals Inc. 7/22/2011 8:30
CMCO, Columbus McKinnon Corporation 7/22/2011 8:30
CPX , Complete Production Services, Inc. 7/22/2011 8:30
EVBS , Eastern Virginia Bankshares Inc. 7/22/2011 8:30
HON, Honeywell International Inc. 7/22/2011 8:30
MCD McDonald's Corp. 7/22/2011 8:30
MOSY MoSys, Inc. 7/22/2011 8:30
OFG Oriental Financial Group Inc. 7/22/2011 8:30
PRSP Prosperity Bancshares Inc. 7/22/2011 8:30
RAI Reynolds American Inc. 7/22/2011 8:30
SLB Schlumberger Limited 7/22/2011 8:30
STI SunTrust Banks, Inc. 7/22/2011 8:30
XRX Xerox Corp. 7/22/2011 8:30
ACO Amcol International Corp. 7/22/2011
ADVS Advent Software, Inc. 7/22/2011
AUBN Auburn National Bancorporation, Inc. 7/22/2011
BPOP Popular Inc. 7/22/2011
CAT Caterpillar Inc. 7/22/2011
CHRM Charm Communications Inc. 7/22/2011
COBZ CoBiz Financial Inc 7/22/2011
DMRC Digimarc Corporation 7/22/2011
DNBF DNB Financial Corp. 7/22/2011
DSPG DSP Group Inc. 7/22/2011
FCAL First California Financial Group, Inc. 7/22/2011
GE General Electric Co. 7/22/2011
GSLA GS Financial Corp. 7/22/2011
IDXX IDEXX Laboratories, Inc. 7/22/2011
MSFG Mainsource Financial Group 7/22/2011
NSR NeuStar, Inc. 7/22/2011
OLBK Old Line Bancshares Inc. 7/22/2011
SOMH Somerset Hills Bancorp 7/22/2011
TOFC Tower Financial Corporation 7/22/2011
UBNK United Financial Bancorp 7/22/2011
VZ Verizon Communications Inc. 7/22/2011
Ticker Company Earning Date
DOV, Dover Corp. 7/22/2011 7:00
COL, Rockwell Collins Inc. 7/22/2011 7:30
APD, Air Products & Chemicals Inc. 7/22/2011 8:30
CMCO, Columbus McKinnon Corporation 7/22/2011 8:30
CPX , Complete Production Services, Inc. 7/22/2011 8:30
EVBS , Eastern Virginia Bankshares Inc. 7/22/2011 8:30
HON, Honeywell International Inc. 7/22/2011 8:30
MCD McDonald's Corp. 7/22/2011 8:30
MOSY MoSys, Inc. 7/22/2011 8:30
OFG Oriental Financial Group Inc. 7/22/2011 8:30
PRSP Prosperity Bancshares Inc. 7/22/2011 8:30
RAI Reynolds American Inc. 7/22/2011 8:30
SLB Schlumberger Limited 7/22/2011 8:30
STI SunTrust Banks, Inc. 7/22/2011 8:30
XRX Xerox Corp. 7/22/2011 8:30
ACO Amcol International Corp. 7/22/2011
ADVS Advent Software, Inc. 7/22/2011
AUBN Auburn National Bancorporation, Inc. 7/22/2011
BPOP Popular Inc. 7/22/2011
CAT Caterpillar Inc. 7/22/2011
CHRM Charm Communications Inc. 7/22/2011
COBZ CoBiz Financial Inc 7/22/2011
DMRC Digimarc Corporation 7/22/2011
DNBF DNB Financial Corp. 7/22/2011
DSPG DSP Group Inc. 7/22/2011
FCAL First California Financial Group, Inc. 7/22/2011
GE General Electric Co. 7/22/2011
GSLA GS Financial Corp. 7/22/2011
IDXX IDEXX Laboratories, Inc. 7/22/2011
MSFG Mainsource Financial Group 7/22/2011
NSR NeuStar, Inc. 7/22/2011
OLBK Old Line Bancshares Inc. 7/22/2011
SOMH Somerset Hills Bancorp 7/22/2011
TOFC Tower Financial Corporation 7/22/2011
UBNK United Financial Bancorp 7/22/2011
VZ Verizon Communications Inc. 7/22/2011
Schlumberger Net Profit Q2 end of June 2011
Schlumberger Net Profit Q2 end of June 2011 ; A ramp-up in global investment in the oil and gas sector, which had been expected to occur in the second half of the year, actually began in earnest in the second quarter which filled the company’s coffers.
Schlumberger Ltd (NYSE: SLB) reported a 64% rise in its second-quarter net income.
Schlumberger's quarterly profit surged to $1.34 billion, or $0.98 per share, from $818 million, or $0.68 per share, in the year-ago period. Schlumberger's earnings from continuing operations came in at $0.87 per share. Its revenue jumped to $9.62 billion from $5.94 billion. However, analysts were expecting earnings of $0.85 per share on revenue of $9.19 billion.
Schlumberger shares rose $2.79, or +3.1%, in premarket trading Friday
Schlumberger shares prices july 22 2011, Schlumberger stock prices prediction 2011, Schlumberger Ltd (NYSE: SLB), NYSE: SLB, Total revenue Schlumberger
Schlumberger Ltd (NYSE: SLB) reported a 64% rise in its second-quarter net income.
Schlumberger's quarterly profit surged to $1.34 billion, or $0.98 per share, from $818 million, or $0.68 per share, in the year-ago period. Schlumberger's earnings from continuing operations came in at $0.87 per share. Its revenue jumped to $9.62 billion from $5.94 billion. However, analysts were expecting earnings of $0.85 per share on revenue of $9.19 billion.
Schlumberger shares rose $2.79, or +3.1%, in premarket trading Friday
Schlumberger shares prices july 22 2011, Schlumberger stock prices prediction 2011, Schlumberger Ltd (NYSE: SLB), NYSE: SLB, Total revenue Schlumberger
Stocks active trade on Friday july 22 2011, Microsoft, Advanced Micro Devices, Caterpillar, General Electric, Schlumberger, Verizon Communications, Mc
Stocks active trade on Friday july 22 2011 : The companies which are expected to see active trade on Friday are: Microsoft, Advanced Micro Devices, Caterpillar, General Electric, Schlumberger, Verizon Communications, McDonalds, Xerox, Dover, FLIR Systems, Honeywell International, Reynolds American and Rockwell Collins.
Microsoft Corp. (NASDAQ:MSFT) reported fourth quarter earnings after the markets closed on Thursday. Its net income rose to $5.9 billion or $0.69 per share from $4.5 billion or $0.51 per share in the same quarter last year.
Advanced Micro Devices, Inc. (NYSE:AMD) shares surged 5.54 percent to $6.86 in post market trading session. The company swung to second quarter net profit of $61 million or $0.08 per share compared to a net loss of $43 million or $0.06 per share in the same quarter last year. The company expects revenue to increase around 10 percent sequentially in the third quarter.
Caterpillar Inc. (NYSE:CAT) is due to report its second quarter earnings before the opening bell on Friday. Analysts expect the company to report quarter earnings per share of $1.74 from $1.09 last year.
General Electric Co. (NYSE:GE) is projected to report second quarter net income of $ 0.32 per share from $ 0.30 per share in the same quarter last year.
Schlumberger NV (NYSE:SLB) is due to report second quarter net income of $ 0.85 per share before the opening bell on Friday.
Verizon Communications Inc. (NYSE:VZ) is due to report its second quarter earnings before markets open on Friday. Analysts, on average, polled by Thomson Reuters expect the company to report second quarter net income of $0.55 per share compared to $0.58 per share in the same quarter last year.
McDonalds Corp. (NYSE:MCD) is due to report second quarter earnings before the opening bell. Analysts expect the company to report quarter earnings per share of $1.28 from $1.13 last year.
Xerox Corp. (NYSE:XRX) is expected to report second quarter earnings per share of $ 0.24 before the market open on Friday.
Dover Corp. (NYSE:DOV) is expected to report second quarter net income of $ 1.14 per share from $ 0.91 per share in the same quarter last year.
FLIR Systems Inc. (NASDAQ:FLIR) is projected to report second quarter net income of $ 0.37 per share before markets open on Friday.
Honeywell International Inc. (NYSE:HON) is due to report its second quarter earnings before markets open on Friday. Analysts, on average, polled by Thomson Reuters expect the company to report second quarter net income of $0.98 per share compared to $0.73 per share in the same quarter last year.
Reynolds American Inc. (NYSE:RAI) is expected to report second quarter net income of $ 0.71 per share from $ 0.66 per share in the same period a year-ago.
Rockwell Collins Inc. (NYSE:COL) is projected to report third quarter net income of $ 1.04 per share before markets open on Friday.
NASDAQ:MSFT, NYSE:AMD, NYSE:CAT, NYSE:GE, NYSE:SLB, NYSE:VZ, NYSE:MCD, NYSE:DOV, NASDAQ:FLIR, NYSE:HON, NYSE:RAI, NYSE:COL
Microsoft Corp. (NASDAQ:MSFT) reported fourth quarter earnings after the markets closed on Thursday. Its net income rose to $5.9 billion or $0.69 per share from $4.5 billion or $0.51 per share in the same quarter last year.
Advanced Micro Devices, Inc. (NYSE:AMD) shares surged 5.54 percent to $6.86 in post market trading session. The company swung to second quarter net profit of $61 million or $0.08 per share compared to a net loss of $43 million or $0.06 per share in the same quarter last year. The company expects revenue to increase around 10 percent sequentially in the third quarter.
Caterpillar Inc. (NYSE:CAT) is due to report its second quarter earnings before the opening bell on Friday. Analysts expect the company to report quarter earnings per share of $1.74 from $1.09 last year.
General Electric Co. (NYSE:GE) is projected to report second quarter net income of $ 0.32 per share from $ 0.30 per share in the same quarter last year.
Schlumberger NV (NYSE:SLB) is due to report second quarter net income of $ 0.85 per share before the opening bell on Friday.
Verizon Communications Inc. (NYSE:VZ) is due to report its second quarter earnings before markets open on Friday. Analysts, on average, polled by Thomson Reuters expect the company to report second quarter net income of $0.55 per share compared to $0.58 per share in the same quarter last year.
McDonalds Corp. (NYSE:MCD) is due to report second quarter earnings before the opening bell. Analysts expect the company to report quarter earnings per share of $1.28 from $1.13 last year.
Xerox Corp. (NYSE:XRX) is expected to report second quarter earnings per share of $ 0.24 before the market open on Friday.
Dover Corp. (NYSE:DOV) is expected to report second quarter net income of $ 1.14 per share from $ 0.91 per share in the same quarter last year.
FLIR Systems Inc. (NASDAQ:FLIR) is projected to report second quarter net income of $ 0.37 per share before markets open on Friday.
Honeywell International Inc. (NYSE:HON) is due to report its second quarter earnings before markets open on Friday. Analysts, on average, polled by Thomson Reuters expect the company to report second quarter net income of $0.98 per share compared to $0.73 per share in the same quarter last year.
Reynolds American Inc. (NYSE:RAI) is expected to report second quarter net income of $ 0.71 per share from $ 0.66 per share in the same period a year-ago.
Rockwell Collins Inc. (NYSE:COL) is projected to report third quarter net income of $ 1.04 per share before markets open on Friday.
NASDAQ:MSFT, NYSE:AMD, NYSE:CAT, NYSE:GE, NYSE:SLB, NYSE:VZ, NYSE:MCD, NYSE:DOV, NASDAQ:FLIR, NYSE:HON, NYSE:RAI, NYSE:COL
Thursday, July 21, 2011
top performer nasdaq stock july 21 2011, ESRX, VMED, NWSA
top performer nasdaq stock july 21 2011, ESRX, VMED, NWSA : The NASDAQ 100 Index is higher trading at 2410.09, which represents 0.93% versus its previous close. The index is having a mixed day with slightly more than 50% of the NASDAQ 100 components on the green.
Express Scripts (NASDAQ:ESRX) is the NASDAQ 100's top performer today with the stock trading at $55.46 representing 5.56% from its previous trading session. Shares of Express Scripts, the full service pharmacy benefit management and specialty managed care company have defined support at $51.34 and resistance at $60.79.
Virgin Media (NASDAQ:VMED) is also among the top performers, and it is trading at $28 representing 4.87% from its previous close. Virgin Media, the broadband communications and cable television provider in the United Kingdom has calculated support and resistance levels at $26.34 and $31.68 respectively. The other top performer of the NASDAQ 100 is News Corp (NASDAQ:NWSA), which is trading at $16.55 representing 3.89% from its previous close.
The NASDAQ 100's worst performers include Seagate (NASDAQ:STX) that is trading at $14.04 or -17.36% from the previous close. Shares of Seagate, the maker of hard drives and storage solutions have defined support at $16.13 and resistance at $17.00. Also among the worst performers F5 Networks (NASDAQ:FFIV), which is trading at $100 representing -10.27% from the previous trading session.
The NASDAQ 100 is underperfoming the Dow Jones but is pretty much equal with the S&P 500. The Dow Jones Industrial Index is currently trading at 12740.8, which represents 1.34% from previous close, the S&P 500 on the other hand is trading at 1345.64 that represents 1.49% from its previous close.
Express Scripts (NASDAQ:ESRX) is the NASDAQ 100's top performer today with the stock trading at $55.46 representing 5.56% from its previous trading session. Shares of Express Scripts, the full service pharmacy benefit management and specialty managed care company have defined support at $51.34 and resistance at $60.79.
Virgin Media (NASDAQ:VMED) is also among the top performers, and it is trading at $28 representing 4.87% from its previous close. Virgin Media, the broadband communications and cable television provider in the United Kingdom has calculated support and resistance levels at $26.34 and $31.68 respectively. The other top performer of the NASDAQ 100 is News Corp (NASDAQ:NWSA), which is trading at $16.55 representing 3.89% from its previous close.
The NASDAQ 100's worst performers include Seagate (NASDAQ:STX) that is trading at $14.04 or -17.36% from the previous close. Shares of Seagate, the maker of hard drives and storage solutions have defined support at $16.13 and resistance at $17.00. Also among the worst performers F5 Networks (NASDAQ:FFIV), which is trading at $100 representing -10.27% from the previous trading session.
The NASDAQ 100 is underperfoming the Dow Jones but is pretty much equal with the S&P 500. The Dow Jones Industrial Index is currently trading at 12740.8, which represents 1.34% from previous close, the S&P 500 on the other hand is trading at 1345.64 that represents 1.49% from its previous close.
Icon Plc (ICLR) Stock prices prediction per shares
Icon Plc (ICLR) Stock prices prediction per shares ; Icon Plc (ICLR) reported earnings results for the quarter ended June 2011. Earnings came in at $0.21 per share compared to analyst estimates of $0.22 per share. Earnings missed estimates by an unexpected -4.55% downside surprise. Investors might expect the stock price to fall as earnings were below expectations.
Examining previous stock price movement may help to further determine the direction of the share price. Guidance, stock price, and revenue estimates must be considered as well. There are currently 10 analysts covering this firm.
Investors can look to their reports for more information. Shares of ICLR fell by 0.44% or $-0.1/share to $22.63. In the past year, the shares have traded as low as $18.93 and as high as $28.03. On average, 235848 shares of ICLR exchange hands on a given day and today's volume is recorded at 258039.
Examining previous stock price movement may help to further determine the direction of the share price. Guidance, stock price, and revenue estimates must be considered as well. There are currently 10 analysts covering this firm.
Investors can look to their reports for more information. Shares of ICLR fell by 0.44% or $-0.1/share to $22.63. In the past year, the shares have traded as low as $18.93 and as high as $28.03. On average, 235848 shares of ICLR exchange hands on a given day and today's volume is recorded at 258039.
TCF Financial Corp (NYSE: TCB) stock prices prediction
TCF Financial Corp (NYSE: TCB) stock prices prediction : TCF Financial Corp (NYSE: TCB) is expected to earn $0.21 per share for quarter ended Jun 11. Estimates from Wall Street analysts ranged from as low as $0.17 per share to as high as $0.28 per share. For the same quarter last year, the company earned $0.32 per share. Revenues are expected to come in at $175.99M
TCF Financial Corp (NYSE: TCB): fell by 1.36% or $-0.18/share to $13.04. In the past year, the shares have traded as low as $12.83 and as high as $17.37. On average, 1608950 shares of TCB exchange hands on a given day and today's volume is recorded at 801607.
The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.84 area but be careful because the stock may face selling pressure at this level.
TCF Financial Corp (NYSE: TCB): fell by 1.36% or $-0.18/share to $13.04. In the past year, the shares have traded as low as $12.83 and as high as $17.37. On average, 1608950 shares of TCB exchange hands on a given day and today's volume is recorded at 801607.
The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.84 area but be careful because the stock may face selling pressure at this level.
Syntel Inc ( NASDAQ: SYNT ) stock prices per share
Syntel Inc ( NASDAQ: SYNT ) stock prices per share : Syntel Inc (NASDAQ: SYNT) is expected to earn $0.66 per share for quarter ended Jun 11. Estimates from Wall Street analysts ranged from as low as $0.64 per share to as high as $0.69 per share. For the same quarter last year, the company earned $0.68 per share. Revenues are expected to come in at $153.67M.
Syntel Inc (NASDAQ: SYNT): fell by 6.20% or $-3.7/share to $55.96. In the past year, the shares have traded as low as $36.84 and as high as $62.03. On average, 156505 shares of SYNT exchange hands on a given day and today's volume is recorded at 178570.
The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $55.67 area where the stock will likely see buying pressure
Syntel Inc (NASDAQ: SYNT): fell by 6.20% or $-3.7/share to $55.96. In the past year, the shares have traded as low as $36.84 and as high as $62.03. On average, 156505 shares of SYNT exchange hands on a given day and today's volume is recorded at 178570.
The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $55.67 area where the stock will likely see buying pressure
European stock markets july 21 2011, Stoxx Europe 600 index rose
European stock markets july 21 2011, Stoxx Europe 600 index rose : European stock markets ended a choppy session with solid gains Thursday, with bank stocks getting a boost as euro-zone leaders moved toward a new response to the sovereign-debt crisis, while Ericsson AB fell sharply after its results disappointed investors.
The Stoxx Europe 600 index rose 1% to close at 270.48. It had earlier fallen as much as 0.9% following disappointing economic data from Europe and China.
Banks were the big winners, with shares in Commerzbank AG soaring 9.6% in Frankfurt, Societe Generale climbing 6.2% in Paris and Barclays adding 7.7% in London.
The Greek ASE Composite index GR:GD +2.54% rose 2.5% to 1,214.42 and Italy's FTSE MIB index climbed 3.8% to 19,490.7 as banks in both countries rallied.
Jones said disappointing data from China was behind a fall for mining stocks, which were among the worst performers Thursday.
Shares in Rio Tinto PLC dropped 1% in London and Xstrata PLC declined 1.1%.
The falls came after a preliminary reading of China's manufacturing- purchasing-managers index fell to a 28-month low in July. The euro zone's own composite PMI was also weak, hitting a 23-month low.
The U.K. FTSE 100 index settled with a gain of 0.8% at 5,899.89 as losses for the miners partially offset the gains for banks.
Earnings and other corporate news also helped move plenty of stocks as the European reporting season moved into top gear.
Shares in telecoms-equipment group Ericsson dropped 9.7%.The group reported a lower-than-expected profit as restructuring charges and the strong krona hurt the bottom line.
Among other telecom-equipment companies, shares in Alcatel-Lucent dropped 1.4% in Paris.
The French CAC 40 index ended 1.7% higher at 3,816.75, with bank stocks in the lead.
The German DAX 30 index climbed 1% to finish at 7,290.14.
Car makers dropped in the wake of the weak economic data from China and Europe.
Shares in BMW AG dropped 1.1%.
Mobile-phone maker Nokia Corp. rallied 2.5% after the group swung to an operating loss of 487 million euros but said it's making better-than-expected progress in a major restructuring plan.
Pharmaceutical giant AstraZeneca PLC was another top performer, rising 2% after the U.S. Food and Drug Administration approved its Brilinta anti-clotting drug.
Among other stocks on the move across Europe, shares in Remy Cointreau rose 5.7% in Paris after the drinks group reported a 16% rise in sales thanks to strong demand in Asia, the U.S. and Europe.
The Stoxx Europe 600 index rose 1% to close at 270.48. It had earlier fallen as much as 0.9% following disappointing economic data from Europe and China.
Banks were the big winners, with shares in Commerzbank AG soaring 9.6% in Frankfurt, Societe Generale climbing 6.2% in Paris and Barclays adding 7.7% in London.
The Greek ASE Composite index GR:GD +2.54% rose 2.5% to 1,214.42 and Italy's FTSE MIB index climbed 3.8% to 19,490.7 as banks in both countries rallied.
Jones said disappointing data from China was behind a fall for mining stocks, which were among the worst performers Thursday.
Shares in Rio Tinto PLC dropped 1% in London and Xstrata PLC declined 1.1%.
The falls came after a preliminary reading of China's manufacturing- purchasing-managers index fell to a 28-month low in July. The euro zone's own composite PMI was also weak, hitting a 23-month low.
The U.K. FTSE 100 index settled with a gain of 0.8% at 5,899.89 as losses for the miners partially offset the gains for banks.
Earnings and other corporate news also helped move plenty of stocks as the European reporting season moved into top gear.
Shares in telecoms-equipment group Ericsson dropped 9.7%.The group reported a lower-than-expected profit as restructuring charges and the strong krona hurt the bottom line.
Among other telecom-equipment companies, shares in Alcatel-Lucent dropped 1.4% in Paris.
The French CAC 40 index ended 1.7% higher at 3,816.75, with bank stocks in the lead.
The German DAX 30 index climbed 1% to finish at 7,290.14.
Car makers dropped in the wake of the weak economic data from China and Europe.
Shares in BMW AG dropped 1.1%.
Mobile-phone maker Nokia Corp. rallied 2.5% after the group swung to an operating loss of 487 million euros but said it's making better-than-expected progress in a major restructuring plan.
Pharmaceutical giant AstraZeneca PLC was another top performer, rising 2% after the U.S. Food and Drug Administration approved its Brilinta anti-clotting drug.
Among other stocks on the move across Europe, shares in Remy Cointreau rose 5.7% in Paris after the drinks group reported a 16% rise in sales thanks to strong demand in Asia, the U.S. and Europe.
Best top Mutual Funds to buy with Solid Long Term
Best top Mutual Funds to buy with Solid Long Term : view the latest rally as a bit of a growth bubble at current prices. Although many online businesses offer high growth in a low growth world and many investors may be right to be optimistic despite the end of QE2, the average high PE tech (I mean over 200X earnings and 5X book value) stock looks downright nuts to purchase here given the country and the global economy is going through a laundry list of problems.
With talks of the debt ceiling, the 85% rally from the lows, and the fact that stocks are up while the economy is down I think now is time to cut allocations to higher PE stocks and add exposure to below book value names and long short managers.
AVALX
Aegis Value is one of the only Ben Graham, deep value investment funds available to investors that buys shares in cheap and unloved stocks trading below tangible book value. Aegis has outperformed the stock market since inception by a wide amount, driving value for fund holders with a X return since inception. Manager Scott Barbee is a Harvard MBA who prefers stocks that Wall Street hates, saying that the investments he likes are like apples -- you have to cut out the rotten spots to find value and separate the completely rotten fruit from the true value bargain. I tend to agree with him that many times the tough job in deep value investing is to decide if a stock is permanently or temporarily impaired and that companies worth buying usually have issues, but that these issues can create opportunity if Wall Street has incorrectly concluded that the end is near.
FAIRX
A better known offering, the Fairholme Fund, has had a tough 2011 so far but I view this relative under-performance as a buying opportunity. Fairholme has the best longer term track record of all of the large cap value funds over the past 10 years even after the recent speed bump in performance. This long term value creation has made Fairhome the Morningstar Fund of the Decade. The fund is down pretty badly year to date with a 13% YTD loss. Given their large overweight position in the financials i view their performance as pretty strong all things considered -- most of their top positions are down much more than 13% YTD so investors here should likely stay the course. That said, if things get much worse in the housing and credit markets, the fund could suffer.
HSGFX
The Hussman Strategic Growth Fund has not performed all that well during the "recovery" however the fund managed to avoid all of the losses of 2008 and 2009 and has a strong 10 year track record. When viewed on a risk adjusted basis, the Hussmann offering has a ton of merit even though during the current stock market mania the returns here have been muted. The main reason for the dampened upside here of late is that Dr. Hussman looks at the average earnings for the S&P 500 over the past ten years, not just the earnings of the S&P 500 over the past year. To me, this longer term view makes a ton of sense and is also the type of metric Benjamin Graham used to evaluate and value individual equities. I like this fund for a "risk on" environment and I think that we are not embarking on a new secular bull market from the current CAPE of 23X earnings.
UMBIX
Columbia Value and Restructuring is one of the only funds that has outperformed the S&P 500 over the past 15 year period, and has generated an impressive 10% per year return for their shareholders. David Williams takes a longer term, contrarian value approach to investing although he is willing to buy good businesses at fair prices. While I like this fund, the 600 trillion derivatives mess out there keeps me from being all that bullish after the recent 95% up move from the March 2009 lows. That said, I think Williams will continue to outperform the index funds over a longer period of time, which is more than you can say for the other 90% of actively managed mutual funds out there. YTD the fund is up 3.18%...
SEQUX
Sequoia Fund is up over 12% YTD and up an average of 6.18% over the past 10 years, besting the S&P 500 over the past decade by 3.33% per year over that time frame, making this offering one of the best long term investments in the Large Value category. Robert Goldfarb and David Poppe have done a great job and continue the tradition of this dyed in the wool value fund that was the only investment fund Warren Buffett recommended to his hedge fund investors after he shut his doors in the 1970's.
TBGVX
Tweedy Brown is one of the best global value fund managers in the world, with a 6.16% ten year annual return, besting the MSCI EAFE index by 4.76% per year over that period of time, which represents significant alpha to their fund holders. We like the fund and feel that global value funds make more sense right now than US funds given the lack of regulatory differentiation here with an under-funded S.E.C. and given the tendency for the US to print, borrow, and spend money. Tweedy Browne is a classic value shop with one of the best long term track records in the investment business.
TAVFX
Third Avenue Value Fund run by Marty Whitman is another amazing long term value investment fund which looks to buy undervalued businesses which are well managed and without material impairments to their businesses. Whitman faced a pretty steep drawdown in 2008, but he was right in his assessment that his portfolio faced very few impairments on their book values. The fund has outperformed since then but is down 1.24% so far YTD. Whitman's large foreign allocation has underperformed in the near term, but over the longer term I think they are well positioned to outperform the market. The fund is up 6% or so annualized over the past 10 years. (source /www.businessinsider.com )
recommended investment funds for minors, top investments for 2012, best investment strategy, Bonds, Investment Strategy, Mutual Fund, Mutual Fund 2011, Mutual Fund 2012, Mutual Fund Investment, Mutual Fund Investment Strategy, Stocks.
With talks of the debt ceiling, the 85% rally from the lows, and the fact that stocks are up while the economy is down I think now is time to cut allocations to higher PE stocks and add exposure to below book value names and long short managers.
AVALX
Aegis Value is one of the only Ben Graham, deep value investment funds available to investors that buys shares in cheap and unloved stocks trading below tangible book value. Aegis has outperformed the stock market since inception by a wide amount, driving value for fund holders with a X return since inception. Manager Scott Barbee is a Harvard MBA who prefers stocks that Wall Street hates, saying that the investments he likes are like apples -- you have to cut out the rotten spots to find value and separate the completely rotten fruit from the true value bargain. I tend to agree with him that many times the tough job in deep value investing is to decide if a stock is permanently or temporarily impaired and that companies worth buying usually have issues, but that these issues can create opportunity if Wall Street has incorrectly concluded that the end is near.
FAIRX
A better known offering, the Fairholme Fund, has had a tough 2011 so far but I view this relative under-performance as a buying opportunity. Fairholme has the best longer term track record of all of the large cap value funds over the past 10 years even after the recent speed bump in performance. This long term value creation has made Fairhome the Morningstar Fund of the Decade. The fund is down pretty badly year to date with a 13% YTD loss. Given their large overweight position in the financials i view their performance as pretty strong all things considered -- most of their top positions are down much more than 13% YTD so investors here should likely stay the course. That said, if things get much worse in the housing and credit markets, the fund could suffer.
HSGFX
The Hussman Strategic Growth Fund has not performed all that well during the "recovery" however the fund managed to avoid all of the losses of 2008 and 2009 and has a strong 10 year track record. When viewed on a risk adjusted basis, the Hussmann offering has a ton of merit even though during the current stock market mania the returns here have been muted. The main reason for the dampened upside here of late is that Dr. Hussman looks at the average earnings for the S&P 500 over the past ten years, not just the earnings of the S&P 500 over the past year. To me, this longer term view makes a ton of sense and is also the type of metric Benjamin Graham used to evaluate and value individual equities. I like this fund for a "risk on" environment and I think that we are not embarking on a new secular bull market from the current CAPE of 23X earnings.
UMBIX
Columbia Value and Restructuring is one of the only funds that has outperformed the S&P 500 over the past 15 year period, and has generated an impressive 10% per year return for their shareholders. David Williams takes a longer term, contrarian value approach to investing although he is willing to buy good businesses at fair prices. While I like this fund, the 600 trillion derivatives mess out there keeps me from being all that bullish after the recent 95% up move from the March 2009 lows. That said, I think Williams will continue to outperform the index funds over a longer period of time, which is more than you can say for the other 90% of actively managed mutual funds out there. YTD the fund is up 3.18%...
SEQUX
Sequoia Fund is up over 12% YTD and up an average of 6.18% over the past 10 years, besting the S&P 500 over the past decade by 3.33% per year over that time frame, making this offering one of the best long term investments in the Large Value category. Robert Goldfarb and David Poppe have done a great job and continue the tradition of this dyed in the wool value fund that was the only investment fund Warren Buffett recommended to his hedge fund investors after he shut his doors in the 1970's.
TBGVX
Tweedy Brown is one of the best global value fund managers in the world, with a 6.16% ten year annual return, besting the MSCI EAFE index by 4.76% per year over that period of time, which represents significant alpha to their fund holders. We like the fund and feel that global value funds make more sense right now than US funds given the lack of regulatory differentiation here with an under-funded S.E.C. and given the tendency for the US to print, borrow, and spend money. Tweedy Browne is a classic value shop with one of the best long term track records in the investment business.
TAVFX
Third Avenue Value Fund run by Marty Whitman is another amazing long term value investment fund which looks to buy undervalued businesses which are well managed and without material impairments to their businesses. Whitman faced a pretty steep drawdown in 2008, but he was right in his assessment that his portfolio faced very few impairments on their book values. The fund has outperformed since then but is down 1.24% so far YTD. Whitman's large foreign allocation has underperformed in the near term, but over the longer term I think they are well positioned to outperform the market. The fund is up 6% or so annualized over the past 10 years. (source /www.businessinsider.com )
recommended investment funds for minors, top investments for 2012, best investment strategy, Bonds, Investment Strategy, Mutual Fund, Mutual Fund 2011, Mutual Fund 2012, Mutual Fund Investment, Mutual Fund Investment Strategy, Stocks.
best ways to invest in gasoline and oil prices
best ways to invest in gasoline and oil prices : The energy department reported today that US stockpiles of gasoline fell for the first time in seven weeks. According to Bloomberg Gasoline Supplies dropped 460,000 barrels in the week ending June 17 this well above the median forecast of 17 analysts surveyed by Bloomberg News which actually predicted a gain of 1 million barrels.
Also Gasoline imports slid 22 percent to an average 867,000 barrels a day, the fewest in five weeks. This news plus the upcoming 4th of July Holiday, should drive gasoline prices higher in the short run.
One of the best ways to invest in gasoline is in the fuel itself through the U.S. Gasoline Fund (UGA). The United States Gasoline Fund is a commodity based ETF that invests exclusively in gasoline futures contracts.
UGA has an expense ratio of 0.60%. As of yesterday’s close UGA is trading at a -0.21% discount to its Net Asset Value and is currently up more than 20% year to date. Currently the gasoline market is in backwardation which is bullish for the commodity and the gasoline ETF UGA.
(One disadvantage of commodity based ETF’s is that they can be susceptible to “roll yield”. Roll yield is the positive or negative return that occurs when a futures index or ETF rolls from the current month’s contract to the next month’s contract.
The roll yield is positive when the futures market is in backwardation and negative when the futures market is in contango. Basically if the current month’s future has a higher price than the next nearest month, this is backwardation and it is a bullish sign for the commodity.
Conversely if the current months futures contract has a lower price than the next nearest month, the market is in contango it is a bearish for that commodity, and it produces a negative roll yield which indirectly hurts the shareholders of ETF’s that are in contango.) A negative roll return is the percentage cost that investors incur by holding an ETF that holds futures contracts that are have a negative roll yield and has a market in backwardation.
So basically anyone who owns an ETF such as the heating oil ETF UHN above is losing a -.67% each month regardless of the ETF’s price movement and therefore has to make a .67% return to just break even.)
Bearish Signs For Crude and Heating Oil Oil inventories declined less than analysts expected and oil supplies increased by 38 million barrels the first gain in four weeks, all of which is a short term bearish sign for the price of oil.
The most direct way to invest in the price of oil is through the US Oil Fund (USO), a commodity based ETF that mainly holds crude oil futures contracts. USO has an expense ratio of 0.45%. As of yesterday’s close USO was trading at a -0.46% discount to its Net Asset Value and USO is currently up more than 9.2% year to date.
Heating oil demand was also week as supplies for heating oil increased to a five week high, a short term bearish sign for the price of heating oil. The most direct way to invest in heating oil is through the US Heating OIL Fund (UHN) a commodity based ETF that mainly holds heating oil futures contracts. UHN has an expense ratio of 0.60%. As of yesterday’s close UHN was trading at a -0.57% discount to its Net Asset Value and UHN is currently up more than 21% year to date.(source http://www.zacks.com)
Also Gasoline imports slid 22 percent to an average 867,000 barrels a day, the fewest in five weeks. This news plus the upcoming 4th of July Holiday, should drive gasoline prices higher in the short run.
One of the best ways to invest in gasoline is in the fuel itself through the U.S. Gasoline Fund (UGA). The United States Gasoline Fund is a commodity based ETF that invests exclusively in gasoline futures contracts.
UGA has an expense ratio of 0.60%. As of yesterday’s close UGA is trading at a -0.21% discount to its Net Asset Value and is currently up more than 20% year to date. Currently the gasoline market is in backwardation which is bullish for the commodity and the gasoline ETF UGA.
(One disadvantage of commodity based ETF’s is that they can be susceptible to “roll yield”. Roll yield is the positive or negative return that occurs when a futures index or ETF rolls from the current month’s contract to the next month’s contract.
The roll yield is positive when the futures market is in backwardation and negative when the futures market is in contango. Basically if the current month’s future has a higher price than the next nearest month, this is backwardation and it is a bullish sign for the commodity.
Conversely if the current months futures contract has a lower price than the next nearest month, the market is in contango it is a bearish for that commodity, and it produces a negative roll yield which indirectly hurts the shareholders of ETF’s that are in contango.) A negative roll return is the percentage cost that investors incur by holding an ETF that holds futures contracts that are have a negative roll yield and has a market in backwardation.
So basically anyone who owns an ETF such as the heating oil ETF UHN above is losing a -.67% each month regardless of the ETF’s price movement and therefore has to make a .67% return to just break even.)
Bearish Signs For Crude and Heating Oil Oil inventories declined less than analysts expected and oil supplies increased by 38 million barrels the first gain in four weeks, all of which is a short term bearish sign for the price of oil.
The most direct way to invest in the price of oil is through the US Oil Fund (USO), a commodity based ETF that mainly holds crude oil futures contracts. USO has an expense ratio of 0.45%. As of yesterday’s close USO was trading at a -0.46% discount to its Net Asset Value and USO is currently up more than 9.2% year to date.
Heating oil demand was also week as supplies for heating oil increased to a five week high, a short term bearish sign for the price of heating oil. The most direct way to invest in heating oil is through the US Heating OIL Fund (UHN) a commodity based ETF that mainly holds heating oil futures contracts. UHN has an expense ratio of 0.60%. As of yesterday’s close UHN was trading at a -0.57% discount to its Net Asset Value and UHN is currently up more than 21% year to date.(source http://www.zacks.com)
Oil prices up july 21 2011 on IEA decision, US data, Greece optimism
Oil prices up july 21 2011 on IEA decision, US data, Greece optimism : For the first time in more than a month, WTI crude oil has touched the $100/barrel mark after falling below $91/barrel in mid-June. The move is likely the result of yesterday’s EIA report that inventories had fallen by 3.7 million barrels. Does this indicate a move back toward $90/barrel or up toward $110/barrel?
The drop to near $90/barrel followed the IEA’s announcement of a 60 million barrel release from the strategic petroleum reserves of it member countries, including a 30 million barrel release from the US Strategic Petroleum Reserve. Ostensibly a reaction to the loss of Libyan production and an attempt to inject some elasticity of supply back into the market, the release was widely seen as an attempt to lower pump prices for consumers.
Oil rose for a third straight session on Thursday, lifted by upbeat U.S. economic data, signs of a deal to bailout Greece and confirmation the International Energy Agency would not release more emergency stocks for now.
The market shook off early losses caused by weak economic data from China and turned positive as euro zone leaders were set to give their financial rescue fund new powers to help Greece overcome its debt crisis, easing concerns that have weighed on oil and other markets in recent weeks.
Further support came from upbeat data showing factory activity in the U.S. Mid-Atlantic region bounced back in July, as well as news members of the IEA decided against releasing more oil stockpiles despite the threat of high prices to the economic recover.
The IEA shocked oil markets in June, announcing it would release 60 million barrels of oil to help replace disruptions of Libyan supply and bring down prices. Prices initially plunged, but in the month since the announcement, Brent prices have climbed back more than $10 a barrel.
Brent LCOc1 traded up 23 cents to $118.38 a barrel at 11:11 a.m. EDT (1522 GMT). U.S. crude CLc1 rose $1.21 to $99.61 a barrel after topping $100 a barrel for the first time since June 10
The drop to near $90/barrel followed the IEA’s announcement of a 60 million barrel release from the strategic petroleum reserves of it member countries, including a 30 million barrel release from the US Strategic Petroleum Reserve. Ostensibly a reaction to the loss of Libyan production and an attempt to inject some elasticity of supply back into the market, the release was widely seen as an attempt to lower pump prices for consumers.
Oil rose for a third straight session on Thursday, lifted by upbeat U.S. economic data, signs of a deal to bailout Greece and confirmation the International Energy Agency would not release more emergency stocks for now.
The market shook off early losses caused by weak economic data from China and turned positive as euro zone leaders were set to give their financial rescue fund new powers to help Greece overcome its debt crisis, easing concerns that have weighed on oil and other markets in recent weeks.
Further support came from upbeat data showing factory activity in the U.S. Mid-Atlantic region bounced back in July, as well as news members of the IEA decided against releasing more oil stockpiles despite the threat of high prices to the economic recover.
The IEA shocked oil markets in June, announcing it would release 60 million barrels of oil to help replace disruptions of Libyan supply and bring down prices. Prices initially plunged, but in the month since the announcement, Brent prices have climbed back more than $10 a barrel.
Brent LCOc1 traded up 23 cents to $118.38 a barrel at 11:11 a.m. EDT (1522 GMT). U.S. crude CLc1 rose $1.21 to $99.61 a barrel after topping $100 a barrel for the first time since June 10
Morgan Stanley Fixed Income report q2 2011
Morgan Stanley Fixed Income Revenue report q2 2011 ; Morgan Stanley reported a second-quarter loss related to the restructuring of a major investment it received during the financial crisis. But the resurgent investment bank posted revenue that beat Wall Street estimates on strength across its investment-banking, trading and wealth-management units.
The investment bank reported a $558 million second-quarter loss after a $1.7 billion charge, equal to $1.02 per share, from its conversion of the preferred stock held by Mitsubishi UFJ Financial Group Inc., which closed during the quarter.
But Morgan Stanley's second quarter was marked more by its revenue of $9.3 billion, which dwarfed the $7.3 billion net revenue reported by its closest rival, Goldman Sachs Group Inc. It has been years since Morgan Stanley reported higher quarterly revenue than Goldman Sachs.
The improved performance across the firm may appease shareholders who have watched Morgan Stanley's stock tumble 15% this year following general weakness in banks. The quarter also reflects gains in Chief Executive James Gorman's pledge to shift the investment bank away from proprietary businesses to client businesses.
Morgan Stanley showed life in its trading, particularly in fixed income, currencies, and commodities, or FICC, an area where Goldman revealed a rare stumble on Tuesday.
Within FICC, Morgan Stanley reported revenue of $1.9 billion, up from $1.7 billion, excluding a debt-valuation adjustment reflecting improving credit at Morgan Stanley. Bond trading at Morgan Stanley was nearly flat with the first quarter, while it fell 63% sequentially at Goldman.
Morgan Stanley put more money on the line in its trading operations last quarter, bucking Goldman's decision to lower trading risk. Morgan's value-at-risk rose 4% on the year in the second quarter to $145 million and jumped 20% sequentially. Putting more money at risk might have helped Morgan Stanley mop up revenue in areas that Goldman missed out on.
The improved performance in FICC follows recent leadership changes in the business at Morgan Stanley, which in January appointed Ken deRegt as global head of fixed-income sales and trading, excluding commodities.
In an interview with Dow Jones Newswires, Morgan Stanley Chief Financial Officer Ruth Porat said the firm has "upside in [fixed income] given where we are starting from," adding that more clients are "identifying us as a preferred source."
Morgan Stanley also recorded its highest revenue in mergers and acquisitions and equity sales and trading since the financial crisis. Revenue in those operations climbed to $533 million and $1.9 billion, respectively. Fixed-income underwriting was the highest in the firm's history, at $521 million.
In a memo to employees Thursday, Mr. Gorman said, "we have accomplished a great deal," but added, "there is still more to do to realize the full potential of our global franchise."
In the quarter, earnings attributable to Morgan Stanley, a measure that excludes the Mitsubishi charge, fell 39% to $1.19 billion. Net revenue rose 17%.
Analysts polled by Thomson Reuters most recently forecast a per-share loss of 64 cents on $8.04 billion in revenue.
In global wealth management, Morgan Stanley reported its highest revenue and financial-adviser productivity since the Morgan Stanley Smith Barney joint venture was formed.
Revenue in the unit rose 13% to $3.5 billion, from $3.1 billion a year earlier, as the business added $2.9 billion in net new assets. Pretax profit margin dropped sequentially to 9%, though Ms. Porat said the fall was mainly due to a Federal Desposit Insurance Corp. charge. Morgan Stanley is targeting a margin of 20%.
morgan stanley fixed income report q3 2011, Morgan Stanley reported revenue q2 2011
The investment bank reported a $558 million second-quarter loss after a $1.7 billion charge, equal to $1.02 per share, from its conversion of the preferred stock held by Mitsubishi UFJ Financial Group Inc., which closed during the quarter.
But Morgan Stanley's second quarter was marked more by its revenue of $9.3 billion, which dwarfed the $7.3 billion net revenue reported by its closest rival, Goldman Sachs Group Inc. It has been years since Morgan Stanley reported higher quarterly revenue than Goldman Sachs.
The improved performance across the firm may appease shareholders who have watched Morgan Stanley's stock tumble 15% this year following general weakness in banks. The quarter also reflects gains in Chief Executive James Gorman's pledge to shift the investment bank away from proprietary businesses to client businesses.
Morgan Stanley showed life in its trading, particularly in fixed income, currencies, and commodities, or FICC, an area where Goldman revealed a rare stumble on Tuesday.
Within FICC, Morgan Stanley reported revenue of $1.9 billion, up from $1.7 billion, excluding a debt-valuation adjustment reflecting improving credit at Morgan Stanley. Bond trading at Morgan Stanley was nearly flat with the first quarter, while it fell 63% sequentially at Goldman.
Morgan Stanley put more money on the line in its trading operations last quarter, bucking Goldman's decision to lower trading risk. Morgan's value-at-risk rose 4% on the year in the second quarter to $145 million and jumped 20% sequentially. Putting more money at risk might have helped Morgan Stanley mop up revenue in areas that Goldman missed out on.
The improved performance in FICC follows recent leadership changes in the business at Morgan Stanley, which in January appointed Ken deRegt as global head of fixed-income sales and trading, excluding commodities.
In an interview with Dow Jones Newswires, Morgan Stanley Chief Financial Officer Ruth Porat said the firm has "upside in [fixed income] given where we are starting from," adding that more clients are "identifying us as a preferred source."
Morgan Stanley also recorded its highest revenue in mergers and acquisitions and equity sales and trading since the financial crisis. Revenue in those operations climbed to $533 million and $1.9 billion, respectively. Fixed-income underwriting was the highest in the firm's history, at $521 million.
In a memo to employees Thursday, Mr. Gorman said, "we have accomplished a great deal," but added, "there is still more to do to realize the full potential of our global franchise."
In the quarter, earnings attributable to Morgan Stanley, a measure that excludes the Mitsubishi charge, fell 39% to $1.19 billion. Net revenue rose 17%.
Analysts polled by Thomson Reuters most recently forecast a per-share loss of 64 cents on $8.04 billion in revenue.
In global wealth management, Morgan Stanley reported its highest revenue and financial-adviser productivity since the Morgan Stanley Smith Barney joint venture was formed.
Revenue in the unit rose 13% to $3.5 billion, from $3.1 billion a year earlier, as the business added $2.9 billion in net new assets. Pretax profit margin dropped sequentially to 9%, though Ms. Porat said the fall was mainly due to a Federal Desposit Insurance Corp. charge. Morgan Stanley is targeting a margin of 20%.
morgan stanley fixed income report q3 2011, Morgan Stanley reported revenue q2 2011
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