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| Antiques, appraisals abound in Camarillo Ventura County Star ... which owns and operates theBoston PBS station and produces the "Antiques Roadshow" TV show. Ohio Valley Gold and Silver Refinery and Treasure Hunters ... See all stories on this topic » |
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| Buyers, sellers seek gold, prices up 400 percent Indiana Daily Student Draper said he occasionally comes across rare antiques or coins and often they are items with values unknown to the seller. Two weeks ago a greeting card ... |
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| Gold ends firmer amid weaker US Dollar Commodity Online By Jim Wyckoff (Kitco News) - Comex gold futures prices ended modestly higher Monday on short covering following recent selling pressure and on a lower US ... See all stories on this topic » |
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Asian Shares Rise; Wall St Gains Buoy Sydney, Tokyo Markets Zawya – 4 minutes ago By Shri Navaratnam SINGAPORE (Dow Jones)–Asian shares were higher on Wednesday after strong gains on Wall Street, with solid US economic data helping to boost resources shares in Sydney and tech …
Asian Shares Rise; Wall St Gains Buoy Sydney, Tokyo Markets
It's back to business as usual. After a little more than two weeks of sideways trading that included one eye-opening plunge last Friday, stocks exploded higher on Tuesday, attaining two key technical levels that makes further upside the default expectation. The Dow Jones tacked on 148 points to close at 12,040, its first close above 12,000 since June 2008, the S&P 500 added 1.7% to close at 1308 and the Nasdaq jumped 1.9% to close at 2751. Several reasons were tossed out in the media for Tuesday's uber-rally: a strong ISM manufacturing index report and the possibility of easing tensions in Egypt being a couple of the most popular suggestions. Both of these events, of course, do nothing but support the idea that discerning the reason for the stock market's hourly or daily – or weekly – movements is next to impossible. As good a reason as any is that when an asset appreciates nearly 30% in almost five months, people tend to take notice and begin to think that they, too, should be buying. In other words, why start now to suggest logical or fundamental reasons for the risk-on frenzy among investors? The bulls' rout of the bears on Tuesday was fairly impressive: advancers on the New York Stock Exchange bested decliners by about 5 to 1, while new 52-week highs beat new 52-week lows, 335-9. Stocks of all sizes performed well, with small-caps outperforming the most. If there was perhaps any notable sector strength it was in financials, showing again that a broad-based rally of any duration is only possible when the sector joins in. The Financial Select Sector SPDR (NYSE: XLF ) exchange-traded fund was up more than 2% on Tuesday after trading virtually flat since Jan. 13. Bank of America (NYSE: BAC ) had a particularly strong day, climbing 4.2% to $14.31. Bonds again sold off, pushing the yield on the 10-year note to 3.45%, meaning the rest of the week will offer a test as to whether yields finally make the run toward 4% and beyond expected this year by many analysts. Commodities finished mixed, with crude oil falling back under $91 after a huge move higher on Monday. Gold and silver were up modestly on a weaker dollar, while industrial commodities were the sector's strength. Cynics would point out that higher input (read: commodity) prices are likely to come home to roost one day in the form of lower corporate margins or inflation, or both. Eventually, the cynic would say, isn't there a downside to corn spot prices rising 8%, rice jumping more than 10%, and cotton up nearly 20% in one month alone? But like I said, why let fundamentals into it?
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It is hard to miss the news about the anti-government protests in Egypt. Looters are roaming neighborhoods in Cairo and the death toll from the demonstrations is now above 100. The military has even blocked tourists from seeing the pyramids. Now the Obama administration has threatened to cut foreign aid to the country because of the crackdown on protesters. So the big question is, is there a contrarian turn-around play here? The Market Vectors Egypt Index ETF (EGPT) is down over 20% during the last twelve months. Investing in this ETF is probably the simplest way to invest in Egyptian companies. The stocks in its portfolio contain many of the following. Commercial International Bank (CIBEY.PK) is a bank holding company in Egypt with over 70 branches. The stock trades at 14.2 times earnings and six times sales. Earnings for the quarter ending September 30 were up 52% on a 38% increase in revenues. EFG Hermes GDR (EFGZF.PK) is in the business of investment banking, private equity, asset management and investment brokerage, and the manage two funds, the Jordan Hi-Tech Venture Fund Limited, which invests in the information technology sector in Jordan, and the Middle East Technology Fund. This $1.9 billion market cap fund trades at 5.2 times sales. Orascom Construction GDR (ORSDF.PK) is in the business of manufacturing and marketing building materials, and in construction contracting, operating in 20 countries. The stock has a price to earnings ratio of 18 and a price sales ratio of 1.7. Earnings for the latest quarter were u over 22%. Orascom Telecom SAE (ORSTF.PK) is an international mobile communications operating in Algeria, Pakistan, Egypt, Tunisia, Iraq, Bangladesh and Zimbabwe. The stock has a PE ratio of 3.9 and a PS ratio of 0.77. If you like international stocks, you should check out the free downloadable Excel stock lists at WallStreetNewsNetwork.com, which includes such countries as France, Brazil, Canada, Japan, India, Russia, and the United Kingdom . Disclosure: Author did not own any of the above at the time the article was written. By Stockerblog.com
Egypt Stocks: A Contrarian Play?
Array BioPharma Inc. ( NASDAQ:ARRY ) stock gained as its loss narrowed this quarter, exceeding analyst expectations. It announced its second quarter earnings for fiscal 2011, with revenue of $16.5 million for the second quarter as compared to revenue of $9.6 million for the comparable period previous year. This quarter the company spent $14.5 million in proprietary research and development to advance its fully owned clinical development and discovery programs. It reported a net loss of $12.4 million, or ($0.23) per share, for the second quarter as compared to a net loss of $21.8 million, or ($0.44) per share, for the comparable period previous year. The company reported revenue of $35.0 million for the six-month period as compared to revenue of $17.5 million for the comparable period previous year. The net loss for the six months was $23.1 million, or ($0.42) per share as compared to a net loss of $46.6 million, or ($0.96) per share in the comparable period previous year. The analyst expected the company to report a loss of $0.28 per share and expected revenues of $16.36 million. Array BioPharma focuses on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases. Chesapeake Energy Corporation ( NYSE:CHK ) recently surged on its announcement of acquisition by CNOOC International Limited, a wholly-owned subsidiary of CNOOC, which is slated to purchase 33.3% undivided interest in Chesapeake’s 800,000 net oil and natural gas leasehold acres in the Denver-Julesburg and Powder River Basins in northeast Colorado and southeast Wyoming. The consideration for the transaction will be $570 million. Also, CNOOC Limited has agreed to fund 66.7% of Chesapeake's share of drilling and completion costs until an additional $697 million is paid, which Chesapeake expects to occur by year-end 2014. Chesapeake focuses on discovering, acquiring and developing conventional and unconventional natural gas reserves onshore in the United States. CARDIOME PHARMA CORP ( NASDAQ:CRME ) reported its partner Merck confirmed the completion of the current review of vernakalant, an oral formulation for atrial fibrillation patients. Both the companies recently had announced a collaboration and license agreement for the development and commercialization of vernakalant. Also, Merck informed Cardiome of its next steps in clinical development for vernakalant (oral) beginning in 2011. Cardiome focuses on developing drugs to treat or prevent cardiovascular diseases. This corporate profile is provided for information purposes only and should not be used as the basis for any investment decision. We are neither licensed nor qualified to provide investment advice. We were not paid, nor do we hold a position in these stocks. We reserve the right to buy or sell any stock mentioned in this report at any time after this post.
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Below are today's Analyst Actions on U.S.-Listed Chinese Stocks.
BNP Paribas maintained Buy rating and $26.60 price target on AsiaInfo-Linkage, Inc. (NASDAQ:ASIA). JPMorgan maintained Overweight rating on Baidu.com, Inc. (NASDAQ:BIDU), and raised price target from $120 to $125. Deutsche Bank upgraded Baidu.com, Inc. (NASDAQ:BIDU) from Hold to Buy, and raised price target from $100 to $139. Morgan Stanley maintained Equal-weight rating on Baidu.com, Inc. (NASDAQ:BIDU). Citigroup maintained Buy rating on Baidu.com, Inc. (NASDAQ:BIDU), and raised price target from $133 to $135. SWS reiterated Buy rating on CNOOC Limited (NYSE:CEO), with HK$19.2 price target on the company's Hong Kong-listed shares. RBS maintained Buy rating on Changyou.com Limited (NASDAQ:CYOU), and raised price target from $36 to $40. Nomura maintained Buy rating and $39 price target on Changyou.com Limited (NASDAQ:CYOU). Roth Capital Partners maintained Buy rating and $40 price target on Changyou.com Limited (NASDAQ:CYOU). Goldman Sachs maintained Buy rating and $45 price target on Longtop Financial Technologies Limited (NYSE:LFT). Deutsche Bank maintained Buy rating and $45 price target on Longtop Financial Technologies Limited (NYSE:LFT). Oppenheimer & Co. reiterated Outperform rating and $50 price target on Longtop Financial Technologies Limited (NYSE:LFT). Citigroup reiterated Buy rating on Sky mobi Ltd (NASDAQ:MOBI), with $12 price target. Bank of America reiterated Buy rating on China Ming Yang Wind Power Group Ltd (NYSE:MY), with $17 price objective. Mirae Asset Securities reiterated Reduce rating on Sohu.com Inc. (NASDAQ:SOHU), and raised price target from $61 to $65. Standard Chartered downgraded Sohu.com Inc. (NASDAQ:SOHU) from Outperform to In-Line, and raised price target from $71 to $83. Oppenheimer & Co. Tongjitang Chinese Medicines Co. (NYSE:TCM) Lazard Capital Markets maintained Buy rating and $14 price target on China Xiniya Fashion Ltd (NYSE:XNY). Janney Montgomery Scott maintained Buy rating and $13 fair value estimate. Cowen and Company maintained Outperform rating on China Xiniya Fashion Ltd (NYSE:XNY).
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Analyst Actions on Chinese Stocks: ASIA, BIDU, CEO, CYOU, LFT, MOBI, MY, SOHU … (Feb 1, 2011)
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The positive trending that kicked off the day continued into the afternoon and sent U.S. stocks soaring as the Dow hits the 12,000 mark. The S&P makes gains topping 1,300 for the first time since September of 2008. Investors confidence is boosted by solid corporate earnings reports and a surprisingly strong manufacturing report that continue to drive the market up. The Nation’s automakers, including GM, Ford and Chrysler , all reported strong sales figures that matched or exceeded expectations. The unrest in Egypt that sparked fear in investors at the start of the week has begun to settle. Investors realize that the issues in Egypt remain far from being resolved. Most recently Standard & Poor’s announced, in addition to downgrading Egypt’s debt, it has also cut it’s foreign currency rating. As issues in Egypt continue to progress, investors have been able to turn their focus,at least for now, to the U.S. The unrest in Egypt and the not so distant financial struggles that erupted in Europe are a reminder that risks are always at hand. At close the major market indexes continue to trend in the green. Dow gained 148.23 points or 1.25% to 12040.16. Nasdaq increased by 51.11 points or 1.89% to 2751.19. S&P 500 rose 21.47 points or 1.67% to 1307.59. The U.S. Treasuries gained 0.06 to 3.44%. Oil dropped 1.58 to $90.60 a barrel. The U.S. dollar lost 0.0079 to the Euro at $1.38. Author: Pamela Frost
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Randgold Resources (GOLD) Rises 2.4% On Upgrade Market Intelligence Center – 5 hours ago Randgold Resources (GOLD) was upgraded today by analysts at Goldman Sachs and the stock is now at $78.32, up $1.83 (2.39%) on volume of 616,518 shares traded. The stock was upped to Neutral from …
Starbucks Corporation (NASDAQ:SBUX) went down by 0.12% and closed at $33.03 after the company said that higher commodity costs may have an unfavorable impact on profit this year. Share of the Seattle-based coffee giant lost 4 cents after opening at $32.32 and trading in the range of $32.05-$33.45 with volume of 16.47 million shares, above the daily average of 6.39 million shares. The market capitalization of the stock stands at $24.48 billion with P/E of 26.69. The stock has 52 week range of $21.26-$33.78. After the market closes on Wednesday, the company reported its first fiscal quarter results and said that it earned $346.6 million, or 45 cents per share, up 43.5% year over year from $241.5 million, or 32 cents per share, earned in the same quarter last year. Analysts' on an average were expecting to post EPS of 39 cents a share. The upside was driven by impressive 8% same-store sales growth in the U.S., which surpassed the Street Account consensus of 5.6%. Revenue rose nearly 8% to $3 billion during the quarter beating the street consensus of $2.93 billion. Company-operated retail sales increased 6.9% to $2.45 billion on comps 7%; Specialty revenue was up 16.2% to $500 million, including Licensing revenue of $379 million plus Foodservice and Other sales of $121 million. Total revenue growth by segment included +7.5% for the U.S., +8.7% for International, +12.0% for the Global Consumer Products Group (CPG), and +32.7% for the Other Segment. Consolidated operating margin increased 340 basis points, to a record 17.0%, on sales leverage and operational improvements. Domestic operating margin rose 410 basis points, to a record 21.9%, while international operating margin increased 720 basis points, to a record 16.3%, marking the third straight quarter of double-digit operating margins. Operating margin in the global consumer products division declined 210 basis points, to 34.6%, on higher coffee costs. For Fiscal 2011, the company expects EPS of $1.44 to $1.47, reflecting 15% to 20% growth over fiscal 2010 non-GAAP EPS on a 52-week basis. No restructuring charges are anticipated in fiscal 2011. The company also expects EPS for fiscal Q2 and Q3 to be in the range of $0.32 to $0.33 in each period, and EPS in fiscal Q4 is expected to be approximately $0.35 to $0.36. The Company said that Coffee prices are locked through the remainder of 2011. Commodity inflation will negatively impact earnings by $0.20 this year, with $0.17 of the anticipated pressure impacting the remaining three quarters. Starbucks Corporation (Starbucks) is the roaster and retailer of specialty coffee in the world, operating in more than 50 countries. Starbucks purchases and roasts whole bean coffees and sells them, along with handcrafted coffee and tea beverages and a variety of fresh food items, through Company-operated retail stores.
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| Black gold, but at what price? The Economist (blog) PROFITING handsomely from oil looks easy when prices are high. BP made an astonishing £56 billion ($103 billion) in the five years between 2005 and 2009. ... See all stories on this topic » | ||
| Exports likely to exceed $200-billion target Business Standard Global oil prices rose to $93 a barrel on an average in January from $90 in December. "Even with adverse pressure on the petroleum prices, the country's ... See all stories on this topic » |
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| Comex Gold modestly higher as traders eye Egyptian political unrest Commodity Online By Allen Sykora (Kitco News) - Gold futures ticked modestly higher early Tuesday on continuing concerns about the political uncertainty in Egypt. ... See all stories on this topic » |
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| Gold May Rise as Inflation Concern, Egyptian Demonstrations Add to Demand Bloomberg ... and likely forthcoming inflation signaled by higher oil prices," Tom Pawlicki, an analyst at MF Global Holdings Ltd. in Chicago, said today in a report. ... See all stories on this topic » | ||
| Kenya Central Bank Cites `Negligible' Inflation Risk for Interest Rate Cut Bloomberg ... conditions and oil prices while some others are one-off price adjustments like rent," Governor Njuguna Ndung'u said in an e- mailed statement today. ... See all stories on this topic » |
