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Market Update: DJIA Slips as Fed Jitters and 3M Outlook Overshadow Jobless Claims Schaeffers Research – 8 hours ago by Joseph Hargett (jhargett@sir-inc.com) 10/28/2010 11:37 AM The Dow Jones Industrial Average (DJIA) has reversed course from earlier gains, as a narrowed 2010 outlook from 3M Company (MMM) helped …
Market Update: DJIA Slips as Fed Jitters and 3M Outlook Overshadow Jobless Claims
Below are today's Analyst Actions on U.S.-Listed Chinese Stocks.
Nomura maintained Buy rating on AirMedia Group Inc. (NASDAQ:AMCN), and raised price target from $7.00 to $8.50. Susquehanna Financial Group maintained Neutral rating on AirMedia Group Inc. (NASDAQ:AMCN). Citigroup maintained Hold rating and HK$5 price target on the Hong Kong-listed shares of China Eastern Airlines Corp. Ltd. (NYSE:CEA). Citigroup maintained Buy rating and HK$18.50 price target on the Hong Kong-listed shares of CNOOC Limited (NYSE:CEO). Credit Suisse maintained Neutral rating and HK$3.95 price target on the Hong Kong-listed shares of China Telecom Corporation Limited (NYSE:CHA). Citigroup maintained Neutral rating and HK$4 price target on the Hong Kong-listed shares of China Telecom Corporation Limited (NYSE:CHA). Macquarie maintained Outperform rating and HK$4.20 price target on the Hong Kong-listed shares of Guangshen Railway Co. Ltd (NYSE:GSH). Roth Capital Partners initiated coverage of China Lodging Group, Ltd (NASDAQ:HTHT) with Neutral rating and $25 price target. Needham & Company upgraded LDK Solar Co., Ltd. (NYSE:LDK) from Hold to Buy, with $15 price target. Citigroup maintained Hold rating on China Life Insurance Company Ltd. (NYSE:LFC), and raised price target from HK$34 to HK$38.20 on the company's Hong Kong-listed shares. Citigroup maintained Buy rating on Melco Crown Entertainment Ltd (NASDAQ:MPEL), and raised price target from $5.70 to $7.50. RBS maintained Buy rating and HK$10.85 price target on the Hong Kong-listed shares of PetroChina Company Limited (NYSE:PTR). BNP Paribas maintained Buy rating and $40 price target on Perfect World Co., Ltd. (NASDAQ:PWRD). Nomura maintained Buy rating on Sinopec Shanghai Petrochemical Co. (NYSE:SHI), and raised price target from HK$4.00 to HK$4.20 on the company's Hong Kong-listed shares. Credit Suisse downgraded Seaspan Corporation (NYSE:SSW) from Outperform to Neutral. Deutsche Bank maintained Hold rating and $14 price target on Seaspan Corporation (NYSE:SSW). Brean Murray reiterated Buy rating on Tri-Tech Holding, Inc. (NASDAQ:TRIT), and raised price target from $17 to $21. JPMorgan maintained Neutral rating on VisionChina Media Inc (NASDAQ:VISN), and raised price target from $4.3 to $5.6. Piper Jaffray maintain our Neutral rating and $5 price target on VisionChina Media Inc (NASDAQ:VISN). RBS maintained Buy rating on China Southern Airlines Limited (NYSE:ZNH), and raised price target from HK$5.20 to HK$6.25 on the company's Hong Kong-listed shares.
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China Analyst
Analyst Actions on Chinese Stocks: AMCN, CEA, CEO, CHA, GSH, HTHT, LDK, LFC … (Oct 28, 2010)
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The Labor Department reported earlier today that fewer people applied for unemployment benefits last week. Applications for joblesss benefits dropped from 21,000 to a seasonally adjusted 434,000 in the week ending October 23rd, 2010. It had been anticipated that applications for jobless benefits would rise and so this news was unexpected but welcomed. Consistency is key however and this is the second week in a row that unemployment applications have dropped. Currently, the jobless rate in the United States is 9.6% and this is only a tenth of a percent lower than what the rate was at the beginning of 2010. The market index values started the day higher but have gradually yet inconsistently worked their way down as the day has progressed. Earnings reports today added to the inconsistent trend line direction as these reports are grouped as a mixed bag. Adding to the mixed stock report is the increased anxieties relating to the federal stimulus intervention plan. The intensity and duration is unknown but many are now expecting that it will be less than originally anticipated. The Dow Jones Industrial Average ended the day in the red at 11,109.63 down .15%. The Nasdaq ended the day up .16% at 2,507.37 and the S&P 500 ended up .10% at 1,183.67. The dollar fell .0087 to the euro today and the ten year treasury yield is at 2.66%. Tomorrow, the third quarter gross domestic product reading (GDP) is due before the opening bell and the Chicago regional reading on manufacturing is due just after the bell. Expectation is that the Commerce Department will report growth for the period beginning July and ending September. Author: Frank Matto
Coca-Cola Enterprises Inc. (NYSE:CCE) spurted 3.19% to $24.28 on a volume of 10.93 million shares after today announced that it expects comparable fiscal 2010 earnings per diluted common share (EPS) in a range of $1.74-$1.78 for new CCE on a pro forma basis. Pro forma revenue is expected to be approximately $7.4 billion with operating income just over $900 million. Skechers USA, Inc. (NYSE:SKX) plunged 17.65% to $19.46 on a volume of 10.75 million shares. Third-quarter profit rose to $36.4 million, or 74 cents a share, from $24.5 million, or 52 cents, in the year-earlier period. Sales rose 37% to a record $554.6 million. Analysts surveyed by FactSet had estimated profit of 99 cents a share on sales of $566.4 million. The stock today also touched a new 52-week low at $19.00. Further U.S. retail customers cancelled orders for the back-to-school selling period. Inventory jumped 46% to $326.7 million at the end of the third quarter, the company reported late Wednesday, adding it expects to "work through" it in the next six months. The Goodyear Tire & Rubber Company (NYSE:GT) also plunged 8.44% to $10.63 on an unusual volume of 7.94 million shares. Today it reported a loss of $20 million, or 8 cents a share — a reversal from a profit of $72 million, or 30 cents a share, in the same quarter during 2009. Excluding one-time items, the company would have earned 13 cents a share. Titan International, Inc. (NYSE:TWI) spurted 8.70% to $15.37 on a volume of 2.29 million shares after it announced its results for the third quarter of 2010. Sales for third quarter 2010 were $222.8 million, an increase of $81.3 million or 57 percent, as compared to $141.5 million in the third quarter of 2009. Gross profit was $27.9 million for the third quarter of 2010, compared to a loss of $(3.0) million in the third quarter of last year. Diluted earnings per share for the third quarter was $.11 per share, compared to a loss of $(.32) per diluted share in 2009.
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Newsworthy Stocks
Allied Irish Banks, plc. (ADR) (NYSE:AIB) has created a new 52-week low of $0.99 and now plunged 5.09% to $0.997. The bank today announced the appointment of Mr. David Hodgkinson as Director and Interim Executive Chairman. Mr. Hodgkinson will lead the Group through this difficult period and manage the process for the appointment of a Group Chief Executive. First Horizon National Corporation (NYSE:FHN) went up 1.23% to $9.90 and created a new 52-week low of $9.56. First Horizon National Corporation (the Corporation) is a bank holding company. So far this year, the stock has plunged over 26.59%. People’s United Financial, Inc. (NASDAQ:PBCT) also went down over 0.85% to $12.29 and made a new 52-week low of $12.25. People's United Financial, Inc. (People's United Financial) is a savings and loan holding company. General Maritime Corporation (NYSE:GMR) made an all time low at $3.60. The stock is down 3.22% to $3.61 over 2.62 million shares. Late yesterday, it announced that the Company’s Board of Directors declared a Q3 2010 quarterly dividend of $0.01 per share payable on or about November 26, 2010 to shareholders of record as of November 12, 2010. Under the terms of the $22.8 million bridge loan, the quarterly cash dividend will limited to $0.01 per share per quarter during the period while the $22.8 million bridge loan is outstanding.
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Newsworthy Stocks
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New Dow Jones Credit Suisse Hedge Fund Index Paper Reviews Hedge Fund Performance Through the Third PR-USA.net – 12 hours ago The Dow Jones Credit Suisse Hedge Fund Index team today released a new paper entitled, “Q3 2010 Hedge Fund Industry Review,” which states that hedge funds have surpassed their previous high water … Dow Jones Indexes Launches US Venture Capital Index – istockAnalyst.com
New Dow Jones Credit Suisse Hedge Fund Index Paper Reviews Hedge Fund Performance Through the Third
With the G20 vowing not to devalue world currencies, has the Gold Price outlook changed…?
EVEN THE MEDIA now treats G20 meetings of world leaders as non-events, writes Julian Phillips at GoldForecaster.
At best, press reports highlight the emptiness of the G20′s concluding resolutions. Nor should investors continue to look to them for real change or commitment. But this weekend’s meeting produced more than expected in the statement that was made on Saturday – that the attending nations had agreed to avoid “competitive devaluations” in currencies.
The only nation admitting to such practices is Japan. China was not party to such statements, as it has a Yuan level that it considers right at the moment (after putting national interests ahead of international ones). The meeting didn’t let the US get away with it either, and pointed out that quantitative easing is an indirect means of devaluing an exchange rate. And so it is.
With US citizens in difficult financial straits buying the cheaper adequate imported goods, much of the new money to be printed will flow out of the Dollar to other parts of the world, not least to earn more interest than charged sitting in emerging nation’s government bonds. So here we are at the same place as last week, but with a few more good intentions. What has come out since that meeting is that the US and China are appearing confrontational.
The gold market expressed its disdain of the intentions issued by the G20 by moving back up to $1345 at Monday morning’s London Gold Fix. We’d previously seen $1380 per ounce, and the drop off last week was sudden. Gold then resumed that drop, however, as the G20 communique was digested by traders.
So what next? To remove currency crises from our future the global currency markets need global cooperation sufficient to overrule national interests. That’s not happening and won’t happen in our opinion, so we expect more falls in the US Dollar once QEII kicks in. We look around the world for reasons to change the fundamental picture for gold and can’t find any. We do see some saying it is time to sell gold. We know of one fund that has shorted gold. So our search for reasons to sell is sincere.
With that in mind, these are some of the questions we are asking:
If your answers are ‘yes’ to these then it is time to sell your gold.
One of the dangers in today’s world is that emotion can replace reason very easily. Our own troubles can engender such hopes that we lose balance and decide based on our emotions, to our cost. That’s why we prefer to use the process called extrapolation. This is where your take the values, trends and activities of today and project them forward to paint the investment scene of tomorrow. What are these?
The G20 meeting was useful, in that it showed how any real desire between governments to agree with each other just isn’t there. The US is understandably clinging to its leverage over world affairs, wanting to change other nations rather than its own behavior, being unable to change its own economic and currency situation. There are efforts there, but these have proved inadequate to date. The Fed has expressed its fear that more QE is needed to bring about not just a real recovery, but to prevent a slide into deflation that will make it nigh on impossible to get out of once it gains momentum.
On the political front the US is approaching an emasculation of power so that it won’t be able to take sufficiently strong action to pull itself out of its hole. And if the mid-term elections do result in this it will be so for two more years. It’s these next two years in which the developed world needs to take strong action to stay sound, as Asia rises in economic power and importance. As it stands now the developed world can’t take such actions. It’s not just about the Dollar and the currency world becoming stable again, it’s about huge readjustments being made as wealth and power move east. The currency system is facing major strains and changes of interests and exchange rates during this time. Without cooperative action by the world’s governments only friction will ensue. And that is what lies ahead if we extend today to tomorrow.
As to a sound global currency system ahead we find it difficult to see that in today’s events. The Yuan and perhaps the Rupee have to gain greater positions in the world money system. It is clear that China should be able to raise its leverage inside the IMF to at least the same level of voting power as Europe. The US should relinquish its deciding vote and be capable of being overruled. Is that likely? Unless the IMF sees such changes, there will be no effective body that can arbitrate the structural changes that have begun already in the world economy and world monetary system. And that is what lies ahead if we extend today to tomorrow.
Have the nations of the world accepted that the changes that lie ahead of us all are so large that international interests must take first place in such a way that overall all national interests can be protected and no individual nation establish precedence? Unfortunately not! The world’s political systems are designed to cater for national interests irrespective of the impact on international ones. It is the nature of democracy and the nature of holding onto power even where no democracy exists. That won’t change. So we see a picture of nations bumping into each other’s interests rather like musical chairs, where some nations just can’t find a chair.
As to growth, with China and other poorer nations able to supply goods at far cheaper levels than the developed world, either wages must drop to Asia’s levels or the developed world must put up blocks to their entrance into their world. Unless they do, developed world currencies will sag even as Asia’s want to rise. China is gaining so much from holding the Yuan down and building surpluses that it won’t change until it is ready to promote the Yuan to a global reserve currency that it controls and price its goods in the Yuan only. That process is well along now and could be tomorrow’s reality in 2011. Currency crises will proliferate then, with the Dollar and the Euro in the spotlight. And that is what lies ahead if we extend today to tomorrow.
Have the austerity measures been sufficient to resolve Sovereign Debt crises? Giving the Eurozone nations the benefit of the doubt we accept that they may succeed (despite the belief in some quarters that Greece will default in three years time and the UK looks like tipping back into recession). It may be at the cost of more double-dip recessions in other countries or worse, but that’s not the point. The point is that the US is just about at the top of the list of nations that are over-borrowed. What austerity measure have they undertaken or will undertake? We have to wait and see if such measure will be successful where applied. What of nations that are over-borrowed and are doing nothing about it. We need strong actions alongside strong growth world-wide before we can gain confidence that such crises will go away. We can’t see it. And that is what lies ahead if we extend today to tomorrow.
Have central banks reaffirmed their confidence in the currency system we now have and continued to sell gold reserves, completely reliant of currencies? What we have seen are central banks turning from selling 500 tonnes a year to buying 500 tonnes per year or moe, as they realize that Gold Bullion is badly needed when currencies fail. And more of that is what lies ahead if we extend today to tomorrow.
Clearly then we see no reason to believe that gold has peaked. It’s not about a technical picture dictating supports and resistances; it’s about a globally changing and broadening market that is altering the parameters of the technical picture. With investors like central banks acquiring gold at any price, how can the technical picture dominate?
Get the safest gold at the lowest prices using BullionVault…
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Gold and Silver for December delivery gained today as the market fluctuated with a mixed bag of economic and company reports. Stocks finished mixed today and values are expected to follow an up and down trend as we approach the November meeting where the Feds will discuss the intensity and duration of the quantitative easing plan that has been talked about now for quite some time in the U.S. The dollar fell today against the euro, Japanese yen and the British pound. The currency market is especially volatile right now due to the anticipated changes stemming from the central bank’s new round of asset purchases. Basically, this stimulus program is one which has the federal government prniting a large quantity of money to pay for the long term bonds it plans on purchasing. This mass printing of money in the U.S. is not a positive thing for the dollar. It will devalue the dollar further and do nothing to stop the current downward drift that the dollar is currency experiencing. As is the normal pattern of behavior, when the dollar struggles, precious metal commodities increase trading value. Gold for December delivery is on the rise and end of day marks for this precious metal are up 1.5% at $1,342.5 per ounce. Silver for December delivery is on the rise as well and is up 2.01%. Silver is currently trading at $23.88 per ounce. Author: Camillo Zucari
Comcast Corporation (NASDAQ: CMCSA) shares are seeing huge activity today. Shares were up 3.03% to $20.89, at last check, on above average volume of 28.34 million. The stock touched a 52-week high pf $20.95 today. The stock has a 52-week range of $13.95-$20.95. Yesterday, the company announced its third-quarter 2010 results, with revenues at $9.5 billion, a 7.3% increase as compared to $8.8 billion in previous year. This growth was due to solid operating results in the cable and programming segments. The earnings per share stood at $0.31, a 6.1% decrease from the $0.33 reported in the previous year. Oclaro Inc. (NASDAQ: OCLR) shares plunged in today's trading after the company announced its first quarter financial results. Shares were down 37.21% to $8.57, at last check, on above average volume of 13.45 million. The stock touched an intra-day low of $8.25 today. The stock has a 52-week range of $2.58-$17.45. Yesterday, the company announced its results for first quarter fiscal 2011, with revenues at $121.3 million, as compared to $112.7 million in previous year. The net income reported was $0.4 million, as compared to $10.6 million in previous year. Entropic Communications Inc. (NASDAQ: ENTR) shares dropped after the company reported its third-quarter financial results. Shares were down 9.32% to $8.17, at last check, on above average volume of 14.89 million. The stock touched an intra-day low of $7.86. The stock has a 52-week range of $.232-$10.35. Yesterday, the company reported its third quarter results, with net revenues of $61.3 million, an increase of 98% compared to $31.0 million in the previous quarter. The net income reported was $11.3 million, or $0.15 per share. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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Epic Stock Picks
More breaking news stories could affect stocks when trading continues later. The following stocks should see some movement: Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX), IBM (NYSE:IBM). Here is a more detailed look at the news that will affect each company when trading continues. Exxon Mobil Corp. (NYSE:XOM) Exxon Mobil Corporation (NYSE:XOM) has showed strong momentum in its shares. Exxon Mobil Corporation (NYSE:XOM) is expected to report earnings per share of $1.39 pre-market on Thursday. The company is rated a STRONG BUY according to Value Engine, and is 8.2% undervalued. The stock has overbought MOJO on its daily chart setting trading as high as $66.80 versus our one-year price target of $75.75. Our monthly value level is $59.94 with a weekly pivot at $66.83 and annual risk level at $87.35. The technical indicators are giving strong buy signals for Exxon as well. In fact the stock's price has made 17 new highs in the past month of trading. Chevron Corp. (NYSE:CVX) Santa Monica College and Chevron Energy Solutions have announced the completion of their joint Energy Efficiency and Solar project. Santa Monica College and Chevron Energy Solutions have announced the completion of their joint Energy Efficiency and Solar project. Through energy efficiency improvements and use of solar energy, the college is expected to reduce carbon emissions by more than 1,500 metric tons, equivalent to preserving 13 acres of forest from deforestation each year. The dedication ceremony will be held on October 29 at 3:00 p.m. Dr. Chui L. Tsang, president of Santa Monica College said that "We are committed to academic excellence, global responsibility and educational, environmental and economical awareness," IBM (NYSE:IBM) IBM (NYSE:IBM) has introduced Cloud Lab to help partners Test Solutions. IBM (NYSE:IBM)'s new cloud lab is based in the UK but can be used by channel partners around the world to help them prepare and develop cloud-based solutions. While cloud computing services are currently estimated as a $68 billion industry this year, analysts estimate that by 2015, that will have expanded to some $150 billion.Jim Corgel, general manager of IBM (NYSE:IBM) ISV and Developer Relations said, "The new Cloud Computing Lab will help our partners gain the skills they need to build next generation business applications and services for the cloud using IBM technologies." We may see more movement when trading continues for Exxon Mobil Corp. (NYSE:XOM), Chevron Corp. (NYSE:CVX) and IBM (NYSE:IBM).
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E money daily
Welcome to the big time, China! A recent New York Times article dealt with China's brisk ascent up the econoladder as being threatened by a rampant spread of national fraud. The fraud issue is all about the nation engaging in broad-based bad behavior on an individual level. All the way from one particular case of a snake oil salesmen to pandemic instances of irregularities that invade virtually every nook and cranny of an upwardly mobile population looking to capitalize on the rising tide of the country's new-found prosperity. Not to fear, China, you are at an awkward age! This anxiety over a sudden stop on the climb up the ladder is a superfluous dynamic of sudden growth. As the article points out, there are all kinds of crazy antics that go on in the United States as well. It goes with the territory. And it's not just the U.S., it's a condition that's worldwide. It always has been, as any history will attest. China's paranoia should be quelled if it puts itself up against the United States in a discussion of correlation between economic success versus moral and ethical behavior. China just jumped into the number-two spot on the global GDP list. With its economy at the $5 trillion dollar level, it is still far behind the U.S. with its $14.3 trillion economy. So, if America with its Bernie Madoffs, Gordon Gekkos, some shady politicians, and a litany of bad boys and girls ranging from celebrities to star athletes is the pinnacle of economic accomplishment, it should be understood that there are going to be pitfalls and embarrassments along the way. As the saying goes, you can't legislate morality (although you can legislate ethics!). Morality and ethics are the domain of the human heart. And out of the human heart also comes the overflowing generosity of a nation in which 80% of charitable contributions come from businesses, private foundations, religious organizations, and — yes— the individual . Among the nations of the world, the United States is the leading good-hearted giver hands-down as measured by charitable giving as a percentage of GDP. According to the Washington-based, non-partisan Center for Global Prosperity at the Hudson Institute, America gives at a rate of 1.67% of its GDP. That's more than double the U.K. at 0.73%, a distant second. Everyone else is way back. So, if there is a worry among the Chinese that their economy is never going to make it to the next rung of the ladder due to instances of poor individual conduct scattered through its population, they can relax and take heart. America is the guide-on marker for economic empowerment that China is chasing. A little advice to the Chinese: confront bad behavior where you meet it — but whatever else you are doing, keep on doing it! No need to fear a failure of growth because of occasional charlatans. There will always be snake-oil salesmen, hustlers, and crooks. It's not an indictment on a system; it's an indictment on the individual.
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InvestorPlace
Here are several more stock briefings which could affect stocks in trading later today. The following companies should see some movement: Intel Corp. (NASDAQ:INTC), Google Inc. (NASDAQ:GOOG), Best Buy (NYSE:BBY). Here is a more detailed look at the news that will affect each company when trading continues. Intel Corp. (NASDAQ:INTC) Source has reported there will be no cloud computing MOU between Taiwan and Intel. Taiwan’s economics minister Shih Yen-shiang didn't meet with the Intel (NASDAQ:INTC) board as schedule. Vice Economics Minister Huang Chung-chiu attended in his place, but according to reliable sources the meeting only served to underscore that there will be contract-signing between the two parties. Intel has not yet fulfilled its WiMAX cooperation MOU, signed in 2008 with the MOEA, so that may be the reason for putting off any contract-signing here. Google Inc. (NASDAQ:GOOG) Report says Google Inc. (NASDAQ:GOOG) has planned to buy $2 billion building. According to people familiar with the matter, Google Inc. (NASDAQ:GOOG) is one among the bidders to buy the massive building it occupies. In case the deal is completed, the purchase of the 2.9-million-square-foot building in Manhattan’s Chelsea neighborhood will become one of the biggest single property acquisitions in the New York. Also, Google Inc. (NASDAQ:GOOG) may be entering the real estate business full-time if the acquisition turns out to be a financial success for the company. Best Buy (NYSE:BBY) Best Buy (NYSE:BBY) has offered a free installation and setup of Google TV in the holiday shopping season. For customers, who purchase a Sony Internet TV or Blue-ray player powered by Google TV, will get a free Geek Squad set-up and installation services. Best Buy (NYSE:BBY) has said that it is showing off the products and allowing shoppers to experience the features of Google TV first hand. Michael Vitelli, Best Buy (NYSE:BBY) President of the Americas said, “We know that consumers are hungry for the type of connected TV experiences that Sony and Google are bringing to the table.” We could see more movement when trading continues for Intel Corp. (NASDAQ:INTC), Google Inc. (NASDAQ:GOOG) and Best Buy (NYSE:BBY).
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Randgold Resources Shares Sliding Lower, Down 1.8% (GOLD) Benzinga – Oct 27, 2010 Randgold Resources (NASDAQ: GOLD) is one of today's notable stocks in decline, down 1.8% to $92.33. The S&P is currently trading 0.5% lower to 1,180 and the Dow Jones Industrial Average is trading … Look for Shares of Randgold Resources to Potentially Rebound after Yesterday's 2.65% Sell Off (GOLD) – Comtex Smartrend Randgold Resources (GOLD) Trading Up 1% Today Along With Rising Gold Prices – Market Intelligence Center
Below are the top 10 Solar stocks with highest price momentum, UPDATED TODAY before 4:30 AM ET. Six Chinese companies (JKS, TSL, LDK, JASO, SOLF, SOL) are on the list.
First Solar, Inc. (NASDAQ:FSLR) has the 1st highest price momentum in this segment of the market. It is trading at 97.4% of 52-week high. Its price change was 0.7% for the last 4 weeks. JinkoSolar Holding Co., Ltd. (NYSE:JKS) has the 2nd highest price momentum in this segment of the market. It is trading at 90.9% of 52-week high. Its price change was -3.6% for the last 4 weeks. GT Solar International, Inc. (NASDAQ:SOLR) has the 3rd highest price momentum in this segment of the market. It is trading at 87.6% of 52-week high. Its price change was 1.2% for the last 4 weeks. Trina Solar Limited (ADR) (NYSE:TSL) has the 4th highest price momentum in this segment of the market. It is trading at 86.5% of 52-week high. Its price change was -4.4% for the last 4 weeks. LDK Solar Co., Ltd. (NYSE:LDK) has the 5th highest price momentum in this segment of the market. It is trading at 85.4% of 52-week high. Its price change was 12.1% for the last 4 weeks.
Spire Corporation (NASDAQ:SPIR) has the 6th highest price momentum in this segment of the market. It is trading at 85.4% of 52-week high. Its price change was 31.3% for the last 4 weeks. JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) has the 7th highest price momentum in this segment of the market. It is trading at 83.6% of 52-week high. Its price change was -3.9% for the last 4 weeks. BTU International, Inc. (NASDAQ:BTUI) has the 8th highest price momentum in this segment of the market. It is trading at 83.3% of 52-week high. Its price change was 7.5% for the last 4 weeks. Solarfun Power Holdings Co., Ltd. (ADR) (NASDAQ:SOLF) has the 9th highest price momentum in this segment of the market. It is trading at 82.0% of 52-week high. Its price change was -14.2% for the last 4 weeks. ReneSola Ltd. (ADR) (NYSE:SOL) has the 10th highest price momentum in this segment of the market. It is trading at 80.7% of 52-week high. Its price change was 1.7% for the last 4 weeks.
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China Analyst
Top 10 Solar Stocks with Highest Momentum: FSLR, JKS, SOLR, TSL, LDK, SPIR, JASO, BTUI, SOLF, SOL (Oct 28, 2010)
BMP Sunstone Corp. (NASDAQ:BJGP) went up 28.07% to $9.81 after it made its new 52-weekj high of $9.87. The company said Thursday that it has agreed to be bought by Sanofi-aventis for US$10 per share, or a total of about US$520.6 million on a fully diluted basis. BMP Sunstone Corporation (BMP Sunstone) is a specialty pharmaceutical company engaged in the development, manufacture, and sales of over-the-counter (OTC), medicinal brands for women and children in China. Sirius XM Radio Inc. (NASDAQ:SIRI) gained 2.79% to $1.44 after it made its fresh 52-week high of $1.47. The stock went up more than 149% year-to-date. So far, the market capitalization of the company stands at $5.60 billion. Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. Cell Therapeutics, Inc. (NASDAQ:CTIC) fell 0.74% to $0.374 on over 2.38 million shares. It reported a third-quarter loss of $15.6 million, or a loss of 2 cents per share, which compares with a loss of $48.8 million, or a loss of 9 cents per share a year earlier. Cell Therapeutics, Inc. develops, acquires and commercializes treatments for cancer. It focuses on building a biopharmaceutical company with a diversified portfolio of oncology drugs. Its research, development, acquisition and in-licensing activities concentrate on identifying and developing less toxic ways to treat cancer. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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Short-term…temporarily even…an effort to suppress prices could succeed. But forever?
ISN’T THAT interesting? asks Gene Arensberg in his GotGoldReport.
Silver Prices have challenged new 30-year nominal highs, yet the largest commercial traders in silver futures are apparently not willing to take on much higher net short positioning.
Why aren’t the largest futures hedgers and short sellers willing to really pile on the short side of silver futures? What signals do they see…and what is keeping them from selling the heck out of this $5.00-plus rally since the August consolidation breakout?
Perhaps not coincidentally, this week saw Bart Chilton of the Commodity Futures Trading Commission (CFTC) issue a statement regarding the silver market. Commissioner Chilton said:
“I believe that there have been repeated attempts to influence prices in the silver markets. There have been fraudulent efforts to persuade and deviously control that price. Based on what I have been told by members of the public, and reviewed in publicly available documents, I believe violations to the Commodity Exchange Act (CEA) have taken place in silver markets and that any such violation of the law in this regard should be prosecuted.”
The CFTC regulator’s full statement is available here. And has Commissioner Chilton opened a window for us? Could it be that silver is not being hammered in the futures markets on the short side because traders that have used their ability to game the system in the past are now under a CFTC microscope?
In which case, the futures game may have changed. But…
In truth we do not know with certainty which (if any) of the scenarios above are in play, but we do know that silver has not been trading anything like it “normally” does since at least the end of September.
Just below is our own chart, which we shared with subscribers in our COT Flash Report on Sunday, October 24. It shows the relative net short positioning for silver for the traders the CFTC classes as “commercial” in the legacy commitments of traders (COT) reports.
Notice that the relative net short positioning (the commercial net short positioning compared to the total open interest) actually fell as silver has been rising sharply in price.
In the three reporting weeks since September 28, the traders the CFTC classes as commercial collectively reduced their net short positioning from 65,413 to some 58,150 contracts net short silver.
In other words, the industry-side of the market went from being net short 327 million ounces to net short of 290.8 million ounces – a reduction in net short positioning of 11%.
Why is that not “normal” comparatively speaking? Because it occurred as the price of silver advanced from $21.74 to as high as $24.90, then settled Tuesday, October 19 at $23.36. So all told, over the past seven trading weeks, the relative net short positioning of the largest commercial hedgers and short sellers has actually declined from 45.4% of all contracts open to 38.5%.
The unusual part is that the commercial hedgers and short sellers reduced their net short positioning on a material increase in the price of silver. In the past that would be considered strongly unusual. Hedgers in retreat? Hedgers NOT selling into a 30-year price high? A historic change is underway in the futures markets, friends. We are witness to it right now.
But the idea that silver is now rising merely because of increased scrutiny by regulators on the short sellers is neither comforting, nor appealing, but we sincerely doubt that is solely the reason that silver has found a bid of late.
We are of the firm opinion that silver is not rising merely because of regulator’s newly found desire to promote “fair” futures markets. Indeed we believe that if there is any influence from the CFTC investigation into the silver futures markets, or increased scrutiny, or whatever, that influence is at best minimal, and more likely coincident to what is happening in the much larger and much less regulated physical markets.
To be sure, we here at GotGoldReport lament the unfair advantage in the futures markets enjoyed by traders to whom the CFTC grants “bona fide hedger” status. This allows a few elite traders access to larger positioning than their long-side opponents. Nor does it take ownership of a tin-foil hat to have noticed multiple bone-crunching sell raids by those “usual suspects” in the past. All long-time traders are certainly aware of them. All long-timers have learned to survive them using one or another money management method (stops, options, nimble trading, etc.).
However, as we have said so many times in the past, one can manipulate the price of something temporarily for short periods of time – if given enough firepower, and given the “right” execution of the trading, But nothing and no one can manipulate the global market price of something – not bullion banks, nor even central banks can argue with the supply/demand/liquidity equilibrium of a global market for any length of time and certainly not indefinitely.
Our view: We believe there is a tectonic shift underway for silver. A shift of historic and generational proportions that is only just now starting to surface in a material way. We believe that global public demand for precious silver is once again returning the metal to its historic role as money – alongside its rarer cousin gold. We believe that the recent absence of concerted short selling is more likely a logical market reaction by hedgers and short sellers to the reality of much higher demand and the realization that existing and available supplies may not be sufficient to satisfy that burgeoning demand at current pricing.
If our view is correct, then it really doesn’t matter if the CFTC or any other regulator is looking harder at the positioning of futures traders. If our view is correct, then the market price of silver will find its own supply/demand/liquidity equilibrium, whether or not hedgers and short sellers sell a few hundred million more ounces of the stuff in paper contracts in New York.
Would it be better if the futures markets were played on a more level playing field? One where both sides of the battlefield had the exact same rules and size limits? Where one side of the action didn’t have access to many times the number of contracts – access to more “ammunition” than the other side does? Sure, certainly it would. No question about it. It might cut down on the short-term blood lettings from time to time. Maybe. But, will that make any difference in the long-term Silver Price…?
No, not really. Futures contracts answer to real demand by the population for silver, not the opposite.
We believe the story has been considerably different for gold, which is held by governments as a reserve-asset and thus has been subject to an unseen hand of “currency management” from time to time in the past, but that is another story for another time. Governments no longer hold silver – and they have all but stopped dishoarding the silver they did have. Governments have stopped supplying the silver that artificially kept the price unreasonably low for decades – and the markets are discovering that now.
Want to buy physical Silver Bullion at live “spot” market prices online…? Go to BullionVault now…
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What a difference 18 months makes. Back in the spring of 2009, Nintendo (PINK: NTDOY ) was still trouncing the competition in monthly sales of both home console and portable video game hardware. It was preparing for the April release of the third-iteration of its best-selling handheld, the Nintendo DSi, and the strength of the company’s Wii console and expensive, peripheral hardware-based software like Wii Fit had industry analysts calling it recession-proof. Not all was well, though. The house of Super Mario Bros. was already watching Wii sales decrease exponentially in its native Japan. The June 2009 launch of the Wii Motion Plus accessory alongside Wii Sports Resort , a sequel to the pack-in Wii Sports software that made the console a cultural and sales phenomenon between 2006 and 2008, performed well, but also well below expectations. The Wii recovered late last fall thanks to the runaway sales success of New Super Mario Bros Wii , but now Nintendo is in trouble. The Wii has experienced its three worst consecutive sales months in the machine’s history. Nintendo DS software is seen as a fool’s market by third-party publishers thanks to rampant piracy. Nintendo DS hardware is witnessing a sharp decline in sales as the public waits for the spring 2011 release of its successor, the Nintendo 3DS. Wii sales in 2010 haven’t declined as much analysts have expected after the company’s dreadful summer. Nintendo sold 4.97 million Wii consoles in the first six months of fiscal 2010, compared to 5.75 million during the same period in 2009. Sales of the Nintendo DS, however, have eroded dramatically. Between March and September 2009, Nintendo sold 11.7 million DS handhelds. In 2010, it sold barely more than half, moving just 6.69 million DSs over the same period. The console was previously on track to become the best-selling video game player of all time, eclipsing Sony’s (NYSE: SNE ) Playstation 2 that holds the record with more than 145 million units sold. At six years old, it would be fair to say that consumers are turning away from the Nintendo DS in anticipation of a more advanced successor, but age is less of a factor than might be expected. The Playstation 2 celebrated its tenth anniversary on Tuesday, and the console continues to sell internationally for Sony. It’s more likely that Nintendo’s handheld is losing sales to smartphones and other mobile media players from manufacturers like Apple (NASDAQ: AAPL ) and Motorola (NYSE: MOT ). These declines coupled with the slipping Yen have led Nintendo to report its first operating loss in seven years. The company posted an income deficit of ¥4.2 billion (around $51.7 million) for the first half of the fiscal year, down from a ¥69.5 billion ($854.5 million) profit during the same period last year. Nintendo is forecasting its lowest profits since the end of fiscal 2003. Nintendo is, appropriately enough, in a very similar position as it was seven years ago. In March of 2004, Nintendo reported its first operating loss ever since opening as a business concern in the 19th century, and it came six months prior to the release of the Nintendo DS, hardware that industry analysts and retailers thought was too strange to succeed. Nintendo is again preparing to release unproven portable technology into the market. Whether the company can repeat history in a landscape that hosts the iPhone remains to be seen, but Nintendo’s history in the industry is strong enough for investors to feel secure. It’s recommended that shareholders hold on to Nintendo through the end of the fiscal year, and potential buyers are advised to wait for a dip in share price in January to buy in before the launch of Nintendo 3DS in Japan next February. As of this writing, Anthony Agnello did not own a position in any of the stocks named here.
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Volatility remained high yesterday following more hints that the Fed may decide not to apply as much stimulus as first anticipated. An article in the WSJ on Wednesday said the Fed was likely to spend a few hundred billion dollars which is much lower than the $2 trillion advocated by some economists. Apparently many must have missed the first hint of future Fed restraint that we noticed last weekend and reported in Monday’s Daily Market Outlook, saying, “The bond market fell on Thursday following a comment by Federal Reserve Bank of St. Louis President Bullard that he sees “small increments” of Treasury-bond purchases when the Fed meets in early November.” The Fed’s governors will meet next week for two days and will probably make a policy announcement following the meeting. For the second day in a row it was strength in the dollar and the QE2 policy that dominated the stock market despite excellent earnings from key companies. Whirlpool (NYSE: WHR ), ConocoPhillips (NYSE: COP ), Procter & Gamble (NYSE: PG ) and Aflac (NYSE: AFL ) all produced positive earnings surprises but it had little impact on the shares of their stock. But one sector, semiconductors, actually rose as a result of better-than-expected earnings: Broadcom (NASDAQ: BRCM ) hit a new 52-week high and helped drive the Philly Semiconductor Index up 3.1%. Of the sectors that showed losses, materials was hardest hit, off 0.9%. Industrials were off 0.7% and energy fell 0.6%. New home sales for September increased by 6.6% month-over-month. And Durable Goods orders for September rose 3.3% versus. an expected increase of 1.8%. But neither report had much impact on trading. Treasurys were lower with the 10-year note’s yield climbing to a one-month high of 2.72%. The dollar rose against the euro, and in late afternoon trading the euro was at $1.3768, down from $1.3852 on Tuesday. At the close the Dow Jones Industrial Average was off 43 points to 11,126, the S&P 500 fell 3 points to 1,182 and Nasdaq rose 6, closing at 2,503. Volume on the NYSE came in at just over 1 billion shares with decliners over advancers by more than 2-to-1. Nasdaq traded 554 million shares and decliners there were ahead by 1.6-to-1. Crude Oil for December delivery fell 61 cents to $81.94 a barrel. The Amex Energy SPDR (NYSE: XLE) fell 25 cents to $59.33. December Gold fell $16 to $1,322.60 an ounce, and the PHLX Gold/Silver Index (XAU) lost $3.88, closing at $196.53. Most futures were negatively impacted by the strength in the dollar and lower expectations for Fed monetary stimulus. What The Markets Are Saying Following the high-momentum run from the August lows, the indices are now stalled at major resistance zones represented by S&P 500 1,174 to 1,210 and DJIA 11,000 to 11,200. However, despite the obvious selling that has caused volatility readings to leap to pre-October levels, none of the major indices has yet broken from its immediate support. There is, however, at least one chart that may hint that a break is about to occur, and it is the chart of the broad-based NYSE Composite Index. When looking for a possible clue to the market’s next move, I always go to this index because it contains such a diverse number of sectors. Yesterday the index closed on its 20-day moving average line, but its intraday low broke below the line by a significant margin. And its internal indicators (stochastic, MACD and momentum) flashed clear sell signals. No other index has yet to provide such a clear warning. This is admittedly flimsy evidence upon which to conclude that a turn is about to occur. But it is enough, along with the overbought internal indicators in the other indices and the market’s failure to move ahead on some very strong earnings numbers, to refrain from taking long-term positions until all of this shakes out. And, I think it is enough evidence for traders to dabble a bit in contra ETFs and other bearish trading strategies. The market has thus far been supported by the view that the dollar would remain weak and the Fed would be flooding the markets with trillions of new dollars. But yesterday’s WSJ article seems to confirm that the Fed governors are considering implementing a far less aggressive plan for QE2 than first proposed. And here is a tip for the future — always take any comments from the St. Louis Fed seriously since it has become common practice for the Fed Chairman to first “float an idea” to the public from that source. For the bulls the clouds are gathering — now is the time to take shelter from a mild storm before the rain and lightning strike. Today’s Trading Landscape For earnings to be reported today, click here . Economic reports due: Jobless Claims (the consensus expects 455 K), EIA Natural Gas Report, Fed Balance Sheet, and Money Supply. If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net .
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InvestorPlace
Shares of RiT Technologies Ltd. (NASDAQ:RITT) are having crazy run up since this Monday. On Monday the stock gapped up and soared 164% to close at $4.60 on hefty volume. The stock has jumped over 330% so far this week since Monday. Once again, today the stock is trading higher by $1.80 or 32% to $7.401 after soaring to its 52-week high of $8.19. In September, the company made an announcement about the introduction of a new product for the datacenter environment: the SMART LC-MPO Cassette Panel. The high-density fiber optic patch panel is separated by its ability to be configured with PatchVie, RiT's advanced real-time intelligent infrastructure management solution. Also last month, the company entered into a private share purchase agreement with STINS COMAN. Under the agreement, STINS COMAN converted an outstanding loan of $1.5 million into 687,128 shares of RiT common stock for an average price of $2.214 per share. STINS COMAN is also the company's principal shareholder. RiT Technologies Ltd. develops intelligent physical layer management solutions for the control, utilization, and maintenance of networks worldwide. The company offers structured cabling products, including SMART Cabling System, an end-to-end network infrastructure solution that provides connectivity solutions for copper and fiber; and CLASSix, a cabling product line.
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Newsworthy Stocks
Shares of 3D Systems Corporation (NASDAQ:TDSC) soared 25.55% to $25.40 this morning and made a new 52-week high of $25.40. This stock is reacting positively after the company announced solid third-quarter results, that beat the analysts' estimates. The company said its net income jumped to $5.4 million or $0.23 per share from $0.9 million or $0.04 a share , in the same quarter of the last year, ahead of analysts estimates by 10 cents. Revenue grew 50% to $41.5 million from $27.7 million last year, ahead of analysts' expectations of revenues of $36.32 million. The company generated $18.5 million of cash from operations during the first nine months of 2010. After using $10.3 million to fund strategic investing activities, the company ended with $33.8 million of available cash compared to $24.9 million at December 31, 2009. Shares of TDSC have jumped over 123% so far this year. 3D Systems Corporation (3D Systems) is a holding company that operates through subsidiaries in the United States, Europe and the Asia-Pacific region. 3D Systems design, develop, manufacture, market and service three-dimensional (3-D) printing, rapid manufacturing, and prototyping systems and related products and materials that enable 3-D objects to be produced directly from computer data without tooling. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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Epic Stock Picks
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Look for Shares of Randgold Resources to Potentially Rebound after Yesterday's 2.65% Sell Off (GOLD) Comtex Smartrend – 6 minutes ago By Chip Brian Randgold Resources (NASDAQ:GOLD) traded in a range yesterday that spanned from a low of $90.48 to a high of $93.07. Yesterday, the shares fell 2.65%, which took the trading range …
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A stop in the foreclosure process worries many that the already depressed housing market could be bogged down and affected in an even more negative way. Big lenders want to move on with the foreclosure process across the nation, but review of new rules and regulations as they relate to the relevant paperwork has slowed or even stopped the process from taking place as efficiently as it should. White House Press Secretary, Robert Gibbs, is concerned about this issue but is unlikely at this stage to express the need for a national moratorium on foreclosures. The fact remains however that the national foreclosure rate is up and the nation’s 20 largest metropolitan areas saw foreclosure activity increase in the third quarter compared to the same period last year. Homeowners are in trouble and trying to find ways to save their homes and continue paying on their mortgage. One way is home loan modification which many lenders are providing. Interest rates are at all time lows and if one can refinance at these historically low rates, then monthly mortgage payments may be more affordable. Freddie Mac reports that 30-Year fixed rates are currently at 4.21% on the national average. The trend lines of the national average for mortgage interest rates continues to drop and this could help many people refinance and make payments affordable again. Author: Camillo Zucari
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Hot Stocks: OfficeMax Inc. and Skechers USA Inc. Schaeffers Research – 21 minutes ago The Dow Jones Industrial Average (DJIA) has pulled back to breakeven after a decline in weekly jobless claims sparked a rally on the open. Over on the New York Stock Exchange (NYSE), we find 1,378 …
Hot Stocks: OfficeMax Inc. and Skechers USA Inc.
Below is today's Daily News and Research on U.S.-Listed Chinese Stocks:
APWR CWS MY: China Ming Yang: A Clean Star With Huge Growth Potential – at Seeking Alpha (Thu 5:56AM EDT)
BIDU: Forbes China Rich List Focus: Number Of Billionaires Soars To Record 128 – at Forbes (Thu 5:40AM EDT)
BIDU SINA SOHU: 2-Star Stocks Poised to Plunge: Baidu? – at Motley Fool (Thu 10:16AM EDT)
CBAK: China BAK to Present at the 25th World Electric Vehicle Symposium and Exposition in Shenzhen – PR Newswire (Thu 9:05AM EDT)
CBEH: China Integrated Energy, Inc. to Host Third Quarter 2010 Earnings Conference Call on November 4, 2010 at 10:00 a.m. EDT – PR Newswire (Thu 7:00AM EDT)
CBEH GU PTR SDTH: Revisiting Gushan Environmental Energy: Q & A With Management – at Seeking Alpha (Thu 6:43AM EDT)
CNIT: China Information Technology Inc. Plays Critical Role in 'Map World,' China's State-sponsored Web-based Map Service – PR Newswire (Thu 7:00AM EDT)
CRIC: Trashing Commercial Real Estate – at Motley Fool (Thu 10:31AM EDT)
EDS: Exceed Schedules 2010 Third Quarter Financial Results Release for Monday, November 15, 2010 – PR Newswire (Thu 8:00AM EDT)
GRRF: China GrenTech Wins China Broadcasting Corporation Bid for the China Mobile Multimedia Broadcasting Network – PR Newswire (Thu 8:00AM EDT)
HOLI: Hollysys Automation Technologies to Announce Financial Results for Its Fiscal 2011 First Quarter ended on September 30, 2010 and Host Earnings Conference Call – PR Newswire (Thu 8:58AM EDT)
JADE: Diamond Prices Rose This Week: Statistical Summary – at Bloomberg (Thu 7:33AM EDT)
LDK: LDK Solar Co Ltd Raised to 'Buy' at Needham & Co. – at Bloomberg (Thu 8:05AM EDT)
LDK SOL: [$$] Checked by the Bears – at TheStreet.com (Thu 10:32AM EDT)
MPEL: Casino Stock Mailbag: Melco, Boyd – at TheStreet.com (Thu 8:30AM EDT)
NIV: NIVS Engages China Century Dragon Media to Lead Branding and Marketing Development of New Mobile Phone Series – PR Newswire (Thu 8:00AM EDT)
PTR: UPDATE – CNOOC raises 2010 production target; Q3 rev up 64 pct – at Reuters (Thu 6:08AM EDT)
SNP: Sinopec Corp. Announces 2010 Third Quarter Results – PR Newswire (Thu 9:54AM EDT)
SSW: Six Key Points From Seaspan's 3Q 2010 Earnings Call – at Seeking Alpha (Thu 6:25AM EDT)
STP: Glaxo Is Using Suntech Panels to Build Largest U.S. Solar Rooftop Project – at Bloomberg (Thu 9:21AM EDT)
STV: Zeebo China and China Digital TV Sign Agreement to Deliver Interactive Learning, Wireless Internet and More to Chinese Consumers – PR Newswire (Thu 10:30AM EDT)
STV: Zeebo China Unveils Plans to Bring Digital Interactive Education and Entertainment to Chinese Families – PR Newswire (Thu 10:30AM EDT)
YGE: Yingli Green Energy to Announce Third Quarter 2010 Financial Results on November 19, 2010 – PR Newswire (Thu 6:00AM EDT)
YONG: CCG Investor Relations Receives Honorable Mention at the 2010 Platinum PR Awards – PR Newswire (Thu 8:00AM EDT)
tdp2664
China Analyst
Daily News and Research on Chinese Stocks (Oct 28, 2010)
Here are several more stock briefings which could affect stocks in trading later today. The following stocks should see some movement: Intel Corp. (NASDAQ:INTC), Wal-Mart Stores Inc. (NYSE:WMT), United Technologies Corp. (NYSE:UTX). Here is a more detailed look at the news that will affect each company when trading continues. Intel Corp. (NASDAQ:INTC) Intel (NASDAQ:INTC) has announced the opening of new plant in Vietnam. THE world’s biggest chipmaker, Intel (NASDAQ:INTC), will open a US$1 billion plant in Hanoi, Vietnam, this Friday. Vietnamese government leaders and officials from Intel (NASDAQ:INTC) will dedicate the plant in Ho Chi Minh City after four years of anticipation. The arrival of Intel (NASDAQ:INTC), a multi national company, will prevent the Vietnamese from over exploiting the country's natural resources. Mr Leon Perera, group managing director of Spire Research and Consulting in Singapore said that" the investment proves that Vietnam is benefiting from the need of multinational companies to diversify beyond China." Wal-Mart Stores Inc. (NYSE:WMT) Wal-Mart Stores Inc. (NYSE:WMT) has planned to open plant in India. Chief executive of Wal-Mart Stores Inc. (NYSE:WMT) is in India in this week for open its new plant in India. President Barack Obama visits India next month as a show of solidarity with India on behalf of foreign companies seeking to enter the Indian market. Montek Singh Ahluwalia, deputy chairman of India’s Planning Commission, says that “the government supports the idea of opening up the country’s retail sector to foreign direct investment.” But he didn’t disclose when or how it might happen, and the government has made similar statements before. Time will tell what this means for the future of companies like Wal-Mart Stores Inc. (NYSE:WMT) which seek entry to India's vast retail sector. United Technologies Corp. (NYSE:UTX) United Technologies (NYSE:UTX) has revealed their plan to eliminate 3,300 workers by the end of next year. According to United Technologies (NYSE:UTX), the plan is a part of the cost reduction efforts announced by company earlier this year. United Technologies (NYSE:UTX) has already sliced 1,300 positions earlier this year and is going to remove many more by 2011. The information has been revealed by United Technologies (NYSE:UTX) in a filing to the U.S. Securities and Exchange Commission. We may see more movement when trading continues for Intel Corp. (NASDAQ:INTC), Wal-Mart Stores Inc. (NYSE:WMT) and United Technologies Corp. (NYSE:UTX).
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E money daily
Thinking of Buying Silver today? Find three more reasons here…
WE ONCE had an ongoing series in Big Gold called “1001 Reasons to Own Gold”, says Jeff Clark, senior editor of Doug Casey’s Big Gold newsletter.
The idea was that there were so many valid reasons to own the metal, I wanted to track and report on them all. And if you’re now invested in the precious metals arena, you will also know there have been a myriad of bullish indicators for silver this year as well.
Here’s a couple new reasons to own silver that a lot of mainstream investors probably aren’t aware of…
Due to increased demand from industry and investors, silver exports from China are expected to drop about 40% this year. And that’s actually an improvement; customs data show exports plunged almost 60% through the first eight months. China exported about 3,500 metric tonnes of silver in 2009, but has exported only 970 tonnes through August of this year.
What a lot of Westerners don’t know is that China ended export “rebates” two years ago to stem the shipment of natural resources leaving the country. As a result of the regulation, silver exports decreased in 2009 but are nothing like what they’re experiencing this year. In other words, the large drop in exports is a direct result of a huge increase in demand within China itself.
According to one Chinese banker, the spike in silver demand is coming from all areas – jewelry, investment, and industrial. In his words, it’s led to a “physical market shortage in the Far East.”
How important is this? China is the world’s third largest producer of silver (after Peru and Mexico), so the amount of silver coming to the global marketplace this year will drop by more than 74 million ounces. This represents roughly 8.3% of total annual global supply from 2009. If worldwide demand continues at its current pace, where is the extra metal going to come from? This alone tells us the price of silver will move higher.
The next item I sleuthed out was that the US Mint is expected to release a new five-ounce Silver Bullion coin this year, the first ever. The coin will be three inches in diameter and have a composition of .999 fine silver.
I’ve read the five-ounce bullion coins will be near-exact replicas of the America the Beautiful quarters. There will reportedly be five different designs, and the mint plans to produce 100,000 of each. I can’t wait to see them.
The coins will be classified as bullion, meaning they should be available to the same dealers already authorized by the mint. This will likely create excitement in the silver market, especially when you consider its affordability. At $23 silver, the five-ounce Silver Bullion coin will cost $115, plus premium. One ounce of gold runs $1340 as I write, while five ounces will cost you $6,700 plus commission.
Perhaps most bullish is the fact that silver is vastly underpriced when compared to gold. Look at it this way: gold is currently priced 57% above its 1980 nominal high of $850; silver would have to more than double to reach its 1980 nominal high of $48.70. And that’s excluding any inflation-adjusted calculation. Yes, silver’s spike was partly a direct result of hoarding by the Hunt Brothers, but my question to the skeptics is this: what’s keeping us from seeing similar stockpiling today? What if there are several Hunt Brothers out there?
It’s true that central banks don’t buy and store physical Silver Bars anymore, so one source of demand that’s common for gold isn’t present for silver. But let’s keep things in perspective: demand for all forms of silver is rising, and we see no reason the trend won’t continue. And with indicators like decreasing supply from China and increased attention from a new bullion coin, I say the big picture on the Silver Price is extremely bullish.
This silver sleuth says, Buy Silver on the next dip. There’s lots of reasons, I believe, you won’t regret it.
Buy Silver at the lowest costs possible, live online, using BullionVault…
gol2664
More breaking news stories could affect stocks when trading continues later. The following companies should see some movement: Dell (NASDAQ:DELL), Lowe’s (NYSE:LOW), United Parcel Service (NYSE:UPS). Here is a more detailed look at the news that will affect each company when trading continues. Dell (NASDAQ:DELL) Dell (NASDAQ:DELL) has beaten Apple on a new green report card issued by an environmental group. Dell (NASDAQ:DELL) was recently ranked higher than Apple on a new green report card issued by the environmental group Electronics Take-Back Coalition. The Coalition's green ranking is issued on the basis of programs adopted by companies for recycling returned devices. According to the group, Dell (NASDAQ:DELL) has executed programs under which customers can easily return old goods for recycling. The scores on the report card is also based on the number of recycling drop-off centers and volume of recyclable devices taken in by the companies. Lowe’s (NYSE:LOW) Lowe’s (NYSE:LOW) has decided to open their first store in San Francisco on Friday. Gina Meacham has been appointed manager of the store, which will be located at 491 Bayshore Blvd. Lowe’s (NYSE:LOW) has said that the new store will sell home improvement products, appliances and garden plants, and will bring 200 new jobs to the area. A ceremonial opening party has been planned by Lowe’s (NYSE:LOW) on Thursday at the new store. United Parcel Service (NYSE:UPS) United Parcel Service (NYSE:UPS) has fully moved into their new office in Wayne, NJ. United Parcel Service (NYSE:UPS) has moved into its new 1,200,000 square-foot office located at 1655 Valley Road in Wayne, NJ. It will be used by the company for mission-critical, technology-related business operations, which was formerly handled at Morris Township, N.J. The property leasing agreement has been signed already between the property owner and United Parcel Service (NYSE:UPS) earlier this year. We may see more movement when trading continues for Dell (NASDAQ:DELL), Lowe’s (NYSE:LOW) and United Parcel Service (NYSE:UPS).
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E money daily
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Over the last month, the price of crude oil has increased from $77 a barrel to $82 a barrel, an increase of 6.5%. Income investors that want exposure to oil and gas have many options. Several of the multinational oil companies have decent yields, such as Exxon Mobil Corp. (XOM) with a 2.7% yield and ConocoPhillips (COP), which has a 3.6% yield. However, for the really high yields, investors have to turn to the oil income royalty trusts and the oil master limited partnerships or MLPs. In both cases, income generated avoids double taxation; virtually all earnings are passed through to the shareholders without being taxed at the company level. Of these options, the royalty trusts have many advantages over the partnerships. Limited partnerships don’t send out 1099 forms, they send out a Schedule K-1 Form, and the income is reported on your tax return differently from regular dividends, with additional forms and preparation time involved. In addition, you should never put an MLP into a retirement plan because of the UBTI or Unrelated Business Taxable Income problem, which could put the tax deferred status of your retirement plan in jeopardy, based on my understanding. However, since I am not an accountant, I am not giving tax advice so please discuss MLP’s with your accountant or CPA for clarification, before investing in MLPs. The royalty trusts don’t have this problem as they send out 1099′s on their income distributions, similar to dividends. According to a list just developed at WallStreetNewsNetwork.com, there are nine different oil royalty income trusts with yields ranging from 5.7% to 13%. For example, Cross Timbers Royalty Trust (CRT), with a price to earnings ratio of 15, sports a yield of 8.1%. This trust owns 90% net profits interests in many royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico. Distributions have been paid monthly since 1992. Sabine Royalty Trust (SBR), founded in 1982, receives royalties from oil and gas properties in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. The stock has a PE ratio of 17 and a yield of 7.3%. This trust also pays monthly. When you check out the free list of oil income investments at WallStreetNewsNetwork.com, pay close attention to the last column, which shows the company structure, either limited partnership, trust, or LLC. Disclosure: Author does not own any of the above. By Stockerblog.com
Plenty of Oil Income Royalty Trusts Yielding Over 5.5%
Norfolk Southern Corp. (NYSE:NSC) dropped 1.37% to $61.35. The company reported late Wednesday third-quarter net income rose to $445 million, or $1.19 a share, from $303 million, or 81 cents, a year ago. Analysts surveyed by FactSet Research had predicted the Norfolk, Va.-based transport company would earn $1.09 cents a share on $2.47 billion in revenue. Over the past 52-week, the stock traded within the range of $45.94-$63.18. At today`s closing price, the market capitalization of the company stands at $22.61 billion. Visa Inc. (NYSE:V) slid 0.14% to $79.92. The company said late Wednesday that fiscal fourth-quarter net income came in at $774 million or $1.06 per class A share. The company was expected to make 95 cents a share, according to the average estimate of analysts in a FactSet Research survey. The stock went down more than 9% year-to-date. Torchmark Corporation (NYSE:TMK) fell 0.32% and closed at $55.57. The company said late Wednesday its third-quarter profit rose to $1.41 a share from $1.22 a share in the same quarter last year. Analysts polled by FactSet Research expected the company to earn $1.57 a share on revenue of $846.3 million. The stock opened at $55.13 and was trading within the range of $54.62-$55.89.
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Newsworthy Stocks
Here is your daily Apple Inc. (NASDAQ: AAPL ) stock news and rumors for October 27, 2010. The Cupertino, California company continues to expand in China with the debut of online shopping at Apple’s website and the Chinese App Store on the iPhone and iPad. The cloud-based iTunes is still nowhere to be seen, but a new rumor points to Apple acquiring yet another streaming music service to keep competition low. Finally, the white colored iPhone 4 is delayed yet again. Apple App Store and Apple.com Web Shopping Debut in China: The iPhone’ popularity has been on the rise in Beijing, with telecom China Unicom unable to keep up with demand for the new iPhone 4. Apple’s smartphone should get yet another boost in the country with the launch of China’s new App Store. Announced in a press release late last night, the new Chinese App Store will feature localized game and service software from a library of 300,000 existing apps, though it’s unclear if the service is launching with new apps unique to China. Apple has also launched an online storefront at Apple.com.cn, marking the first time Apple is providing official direct sales in the territory. The new digital shopping outlets are just the latest moves in Apple’s Chinese expansion in 2010, following the opening of four Apple retail stores and the launch of the iPad, WiFi iPhone 3G, and iPhone 4. Streaming Music Service Spotify to be Acquired by Apple: The maxim in the digital music marketplace seems to be, “Even if they can’t beat you, acquire them anyway.” Apple has yet to announce their own cloud-based streaming music service (though they were expected to last September when iTunes 10 was revealed), and there is no concrete timeline for when they may make the transition away from download sales. That hasn’t stopped them buying up major streaming music services though. Last year, Apple acquired growing U.S.-based streaming music website Lala. Now, according to a rumor at TechCrunch , Apple is going to acquire Lala’s European counterpart Spotify. It was rumored that Spotify was trying to break into the U.S. Spotify’s efforts have been blocked by Apple’s encouraging of music labels not to work with them. While acquiring Spotify would remove a possible competitor, it would also frustrate Apple’s cloud-based iTunes ambitions, as existing distribution contracts with music labels would be nullified if Spotify was acquired. White iPhone 4 Delayed Until Early 2011: Users holding out for a white colored model of the iPhone 4 will have to be patient for just a bit longer. Reuters is reporting that Apple has delayed the white iPhone 4′s release for a third time. The model was originally expected to ship shortly after the original black model that debuted in June. After getting pushed back to a late July release, Apple said that the white iPhone 4 would instead ship in late 2010. Now, the device isn’t planned until next spring. Apple hasn’t confirmed why the model has been delayed so long, but rumors claim that the chief problem is color matching disparate components of the phone in the manufacturing process. As of this writing, Anthony Agnello did not own a position in any of the stocks named here.
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InvestorPlace
Below are the top 10 most profitable Telecom Services stocks for the last 12 months, UPDATED TODAY before 4:30 AM ET. One Chinese company (CHL) is on the list.
Millicom International Cellular SA (USA) (NASDAQ:MICC) is the 1st most profitable stock in this segment of the market. Its net profit margin was 42.55% for the last 12 months. Its operating profit margin was 54.18% for the same period. j2 Global Communications, Inc. (NASDAQ:JCOM) is the 2nd most profitable stock in this segment of the market. Its net profit margin was 30.04% for the last 12 months. Its operating profit margin was 41.19% for the same period. China Mobile Ltd. (ADR) (NYSE:CHL) is the 3rd most profitable stock in this segment of the market. Its net profit margin was 25.11% for the last 12 months. Its operating profit margin was 32.05% for the same period. TeleNav, Inc. (NASDAQ:TNAV) is the 4th most profitable stock in this segment of the market. Its net profit margin was 24.19% for the last 12 months. Its operating profit margin was 39.97% for the same period. Chunghwa Telecom Co., Ltd (ADR) (NYSE:CHT) is the 5th most profitable stock in this segment of the market. Its net profit margin was 23.60% for the last 12 months. Its operating profit margin was 28.42% for the same period.
ORBCOMM Inc. (NASDAQ:ORBC) is the 6th most profitable stock in this segment of the market. Its net profit margin was 23.30% for the last 12 months. Its operating profit margin was 24.26% for the same period. PT Telekomunikasi Indonesia (ADR) (NYSE:TLK) is the 7th most profitable stock in this segment of the market. Its net profit margin was 22.94% for the last 12 months. Its operating profit margin was 34.88% for the same period. Tata Communications Limited (ADR) (NYSE:TCL) is the 8th most profitable stock in this segment of the market. Its net profit margin was 22.18% for the last 12 months. Its operating profit margin was 18.25% for the same period. Neustar, Inc (NYSE:NSR) is the 9th most profitable stock in this segment of the market. Its net profit margin was 20.83% for the last 12 months. Its operating profit margin was 34.88% for the same period. tw telecom inc. (NASDAQ:TWTC) is the 10th most profitable stock in this segment of the market. Its net profit margin was 20.69% for the last 12 months. Its operating profit margin was 9.16% for the same period.
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China Analyst
Top 10 Most Profitable Telecom Services Stocks: MICC, JCOM, CHL, TNAV, CHT, ORBC, TLK, TCL, NSR, TWTC (Oct 27, 2010)
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Asian Shares Mixed; Commodity Plays Fall In Japan, China Wall Street Journal – 6 hours ago By Colin Ng and Ga-Woon Philip Vahn SINGAPORE (Dow Jones)–Asian stock markets were mixed Thursday with a strong earnings report from ANZ Bank helping lift Australian shares, while resources …
Asian Shares Mixed; Commodity Plays Fall In Japan, China
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Top Pre-Market NASDAQ Losers (GTXI, BWLD, CENX, PNRA, SLAB) IBTimes Hong Kong – 16 hours ago The top pre-market NASDAQ stock market losers are: GTX, Buffalo Wild Wings, Century Aluminum, Panera Bread, Silicon Laboratories, Avanir Pharmaceuticals, Mylan, Randgold Resources, ARM Holdings …
BSD Medical Corporation (NASDAQ: BSDM) shares are currently trading higher. Shares were up 15.48% to $4.51, at last check, on above average volume of 3.23 million. The stock touched a 52-week high of $4.95 today. The stock has a 52-week range of $0.86-$4.95. Year-to-date, it is up 173.05%. Recently, the company announced that the University Medical Center (UMC) of Göttingen, Germany, purachsed its BSD-500 Hyperthermia system. UMC intends to utilize the BSD-500 to deliver hyperthermia in combination with radiation therapy for the treatment of head and neck cancer and chest wall recurrences of breast cancer. The institution also plans to use hyperthermia along with high and low dose rate brachytherapy to treat various tumors, including prostate cancer and breast cancer. The BSD-500 will start clinical operation in the second part of October 2010. BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy delivered using focused radiofrequency and microwave energy. The company is based in Salt Lake City, Utah. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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Monday stocks reach 6 month high with better than expected reports from the housing sector on existing home sales. At open on Tuesday, stocks drop with the release of the Case-Sheller 20 city index of home prices. The index reports on housing prices in major metro areas and suggests that the market continues to be sluggish with a decline in prices 0.2% in August. As prices in the housing market fall below economists expectations, increased anxiety builds. Investors continue to fear the affect that the November elections may have on the Bush Tax Cuts. The cuts which are set to expire at the end of the year could greatly impact the economy. This week a line up of corporate and economic reports are anticipated. So far corporate quarterly reports continue to exceed expectations and the consumer confidence index, released earlier today, rang in at 50.2. This reading is up from 49 the previous month and higher than economists anticipated reading of 49. At mid day the market turns positive with all indices in the green. NASDAQ is up 10.16 points or 0.41% to 2501.01. DJIA is up 1.89 points or 0.02% to 11165.94. S&P 500 is up .6 points or 0.05% to 1186.22. The dollar is up. The Treasurys 10-year yield is up 0.07 to 2.62%. Crude oil is up 0.10 to $82.63 a barrel. Author: Pamela Frost
