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Market Report For Friday: Apr 17, 2009

Fri, 17 Apr 2009 13:00:45 GMT

(7:11am ET) There was plenty of economic data released in the US during the day; however the equity market sidetracked until 2pm ET, when with prices at modest losing levels on the week until that point, suddenly, and for no discernable reason, there was a rally that left the indexes with small gains through Thursday. Perhaps traders were anticipating a positive quarterly report from Google (GOOG +2.4% on +151% of average daily trading volume)? After the close, the company did not disappoint, beating both revenue and EPS estimates. The company posted net income of $1.42 billion ($5.16/share), up +8% from the $1.31 billion ($4.84/share) recorded during the same period a year ago. Revenue for 1Q2009 increased +10% to $4.07 billion, from $3.7 billion, excluding traffic acquisition costs. On average, analysts had expected earnings per share of $4.93 and revenue of $4.08 billion, according to Yahoo Finance. For the first[More...]

Daily Report For Thursday, Apr 16, 2009

Thu, 16 Apr 2009 13:36:24 GMT

(8:25am ET) The main focus of traders today will be the 1Q2009 earnings report from JP Morgan (JPM), and the close scrutiny of the data and hype that will follow. After hitting a low of $14.93 in early March, JPM has rallied +118.1% to yesterday’s close of $32.56. There was a high of $34.15 on Tuesday. http://tinyurl.com/da6dcv JP Morgan reported Q1 net income of $2.14 billion, or $0.40/share, down -10% from a year earlier, but beat analysts' expectations. Revenue increased +48% to $25.03 billion. WSJ reported that CEO Jamie Dimon said the firm extended about $150 billion in new credit to consumer and corporate customers during the quarter. With a last hour rally spurred by the real estate investment trusts (REITS) ($DJR +8.7%) and Banks ($BKX +5.1%) in the Financial sector (XLF +4.8%), the US equity[More...]

Daily Report For Tuesday, Apr 14, 2009

Tue, 14 Apr 2009 14:18:59 GMT

(9:30am ET) Stocks in NY sank at the open following various negative reports from TV talking heads, though trade volume was weak on the Easter Monday. After the close, Goldman Sachs surprised with unusually positive revenue and earnings. Today, President Obama will be making a speech on the state of the economy. Traders are confused. Yesterday was pretty much a lost day in the market. Very little of consequence happened. By the close, the DJIA’s small loss (-25.57 -0.32% to 8057.81) offset the small gain in the S&P (+2.17 +0.25% to 858.73), while the NASDAQ (+0.77 +0.05% to 1653.31) was flat. The Toronto Composite (+98.50 +1.07% to 9285.6) and the Toronto Venture Board (+11.89 +1.23% to 980.86) were stronger as the metal miners and goldminers enjoyed a good day. Except for Japan’s Nikkei 225 index (-0.92% to 8842.7), prices today were strong in the major international equity markets: Australia (+2.22% to[More...]

Daily Report For Tuesday: Apr 7, 2009

Tue, 07 Apr 2009 13:31:58 GMT

(8:05am ET) Stocks closed Monday's session in NY lower on a lightly-traded day, but much higher Week over Week. Through Friday, the major market indexes saw their largest four-week gains in seventy-six years. Now the market is preparing for 1Q2009 earnings season, which gets underway today with Alcoa (AA). On Monday, the DJIA (-41.74 -0.52% to 7975.85), S&P (-7.02 -0.83% to 835.48), and NASDAQ (-15.16 -0.93% to 1606.71) could not make headway against concerns the major banks may be preparing to release negative quarterly reports. The Toronto Composite (-49.59 -0.55% to 9016.17), and Venture Board (-12.42 -1.27% to 963.17) were also down on the day, but higher Week over Week. In international equity markets today, the closing prices showed losses except for Shanghai China (+0.80% to 2439.2): Australia -1.30% to 3648.5; Hong Kong -0.46% to 14929.0; India -1.80% to 10534.9; and Japan -0.28% to 8832.9. At 7:30am ET,[More...]

Daily Report For Friday, Mar 27, 2009

Fri, 27 Mar 2009 13:32:35 GMT

(8:36am ET) On Thursday, the upbeat earnings report of (Cara 100) Best Buy (BBY) served to lift the market at the open. Technologies stocks later were the basis of a closing hour rally. At the close, the DJIA (+174.75 +2.25% to 7924.56), S&P 500 (+18.98 +2.33% to 832.86), and NASDAQ (+58.05 +3.80% to 1587.00) gained for the third day in four this week. The Toronto Composite (+198.06 +2.25% to 8995.50) was in line with NY, but the Toronto Venture Board (+24.98 +2.63%to 974.02) also rallied. In the US equity market, the big winners were the Industrials (XLI +5.4%), Consumer Disretionary (XLY +4.6%) and Basic Materials (XLB +4.0%). All ten sectors were winners, but the laggards on this day were Energy +0.9% and Financials (XLF +1.2%). Within the many industry groups, there were a broad section of technology groups that were on the leader board. Lagging a bit were the Goldminers ($XAU[More...]

Daily Report For Friday, Mar 13, 2009

Fri, 13 Mar 2009 15:55:00 GMT

(9:48am ET) Equity market prices lifted pretty much from start to finish of Thursday’s session. Retail Sales, Jobless Claims and Business Inventories and comments from Barney Frank and Tim Geithner played a role in the general bullishness. The latter made comments on the dangers of ending the mark-to-market rule and instead believe subtle changes could be made in an effort to improve it. Pfizer (PFE) made a big splash with the announcement its Phase III trial of Sutent was stopped early as the drug showed a significant benefit in patients with pancreatic cancer. At the close, the DJIA (+239.66 +3.46% to 7170.06), S&P 500 (+29.38% to 750.74) and NASDAQ (+54.46 +3.97% to 1426.10) were up sharply for the second day in the past three. The Toronto Composite (+271.25 +3.39% to 8282.27) and Venture Board (+19.52 +2.37% to 843.42) were almost as strong. The winning sector by a wide margin was[More...]

Daily Report for Thursday, Mar 5, 2009

Thu, 05 Mar 2009 14:05:00 GMT

Daily Report for Thurs., Mar. 5, 2009 (7:57am ET) Equity markets made steady progress on Wednesday as Energy (XLE +4.8%) and Basic Material (XLB) stocks rallied from the opening bell, giving traders hope that an upside move was about to commence. By the end of the session, the DJIA (+149.82 +2.23% to 6875.84, still down from Friday’s 7062.93 close); the S&P 500 (+16.54 +2.38% to 712.87, still down from Friday’s 735.09); and the NASDAQ Composite (+32.73 +2.48% to 1353.74, still down from 1377.84) showed promise. The Canadian markets were also firm as the Toronto Composite gained +183.13 +2.40% to 7814.75 (down from Friday’s 8123.02 close), while the Venture Board gained just +6.88 +0.83% to 830.95 (down from Friday’s 861.66). Earlier in the day today, Asia-Pacific equity markets were mixed: Australia (+0.73% to 3148.8); Japan (+1.95% to 7433.5); and Shanghai China (+1.04% to 2221.1) were strong, whereas Hong[More...]

Daily Report for Thursday, Feb 26, 2009

Thu, 26 Feb 2009 15:35:00 GMT

(9:39am ET) Equity prices sold off sharply at the open and then after gaining strength all day, sold off sharply again into the close. The DJIA (-80.05 -1.09% to 7270.89); the S&P 500 (-824 -1.07% to 764.90); and the NASDAQ Composite (-16.40 -1.14% to 1425.43) closed with a loss of just over -1%. Canadian markets remained strong through the close, however. The Toronto Composite gained +72.97 +0.93% to 7932.30, and the Venture Board was up +1.38 +0.16% to 854.97. The Techs (XLK +0.9%) were the leading sector with the Semi-conductors in particular strong on the day ($SOX +3.0%), while the Banks ($BKX gained +2.4%). True to recent form, as the Banks lifted, there was a sell-off in gold, as $GOLD dropped -$3.30/oz to close at 966.20. Crude Oil ($WTIC) gained +$2.54/bbl to close at 42.50, and is a tad stronger this morning, up to 43.46 at about 8:15am ET, then softening a bit to 43.06 at 9am, still up so far on the[More...]

Daily Report For Tuesday, Feb 24, 2009

Tue, 24 Feb 2009 14:46:00 GMT

(9:39am ET) Equity prices as shown in the major market indexes are at multi-year lows and traders are in a state of capitulation. By the end of the day, Monday, the DJIA (-250.89 -3.41% to 7114.78), the S&P 500 (-26.72 -3.47% to 743.33), and NASDAQ Composite (-53.51 -3.71% to 1387.72) closed down at support levels going back to the 1990’s. The Toronto Composite (-302.32 -3.80% to 7647.67) and Venture Board (-13.96 -1.56% to 878.94) were down there as well. There were no winning sectors as Healthcare (XLV -2.0%), a major loser, was the best of the lot. Basic Materials (XLB -6.1%), pulled down by Chemicals, led to the downside. The Financials (XLF -3.5%) dropped equal to the broad indexes, and much of the loss was in the REITs ($DJR), which fell -7.8%, and not the banks. Today, JP Morgan (JPM) prudently slashed its dividend, permitting all banks to follow, without each getting hammered. That move was crucial to a base being set[More...]

Daily Report for Wednesday, Feb 18, 2009

Wed, 18 Feb 2009 14:55:00 GMT

(9:20am ET) Markets bombed on Tuesday. Disillusioned with Congress and uninspired by the Obama administration, Main Street is quickly losing faith in Wall Street, slowly realizing that the deleveraging of the economy may forever change the fortunes of the average American. Greedy politicians and overpaid bankers are becoming public enemy number one. Right from the opening bell, stock prices plunged. With most of the damage done in the first 30 minutes, the session closed with the major indexes down sharply: DJIA -297.81 -3.79% to 7552.60; S&P 500 -37.67 -4.56% to 789.17; and NASDAQ Composite -63.70 -4.15% to 1470.66. The Toronto composite fell -299.40 -3.45% to 8378.70, while the Venture Board dropped just -6.48 -0.70% to 919.16. Earlier today (compared to their closes on Friday), the Asia-Pacific equity markets were all down: Australia (-1.33% to 3366.9 vs 3496.7 Friday); Japan (-1.45% to 7534.4 vs 7779.4 Friday); China (-4.72%[More...]

Developer Starts Work on Mill District Housing: The $25 Million Apartment Complex in Minneapolis Will Stand Where a Condominium Development Was Derailed By the Recession.

Mon, 02 Nov 2009 02:47:00 GMT

Nov. 2--A Michigan developer broke ground last week on a $25 million, 175-unit apartment complex that fills the last hole in the city's historic Mill District near the Mississippi River.
"If you believe the economy will never improve, then by all means, don't build," said Jonathan Holtzman, CEO of Farmington Hills, Mich.-based Village Green.
"People forget, it's just the business cycle.

[More...]

Economic Troubles of Toledo Area Unyielding: Job Growth Needed, Biden Aide Says

Sat, 31 Oct 2009 14:49:00 GMT

Oct. 31--A top White House economic adviser said Friday that the federal government's recovery efforts may have saved or created a million jobs nationwide, but until there is sustained job growth, "there's no major turnaround to brag on."
Speaking by phone yesterday to The Blade, Jared Bernstein, chief economic adviser to Vice President Joe Biden, had no immediate answers to the troubles facing U.S. manufacturers, including the auto industry.
Given the importance of the Toledo area's automotive and manufacturing base, Mr. Bernstein said the Obama Administration demonstrated it would do what is necessary to protect key jobs by the multibillion-dollar bailouts of General Motors Co. and Chrysler Group LLC.

[More...]

Weak Dollar Lifts Peso to One-Year High

Thu, 15 Oct 2009 05:49:00 GMT

Oct. 15--THE peso closed to a fresh year low against the US dollar on Wednesday, with trading volume doubling amid suspicion the Bangko Sentral ng Pilipinas (BSP) was in the market to temper the local currency's rise.
The general weakness of the US dollar following a high unemployment rate and low manufacturing output in the world's biggest economy propped up Asian currencies, including the peso, which has enjoyed a run up in the last two months.
Trading stayed within a narrow band, with the local currency opening at 46.45 and trading to a high of 46.500 and a low of 46.430.

[More...]

Metro Pacific Resorts to Bridge Financing

Mon, 03 Aug 2009 16:49:00 GMT

Aug. 4--THE local unit of Hong Kong-listed First Pacific Co. Ltd. Announced on Monday that it will secure a bridge financing facility from Metropolitan Bank and Trust Co. and Philippine National Bank.
The loan will be backed by MPIC's 13.35 million common shares in Manila Electric Co.
Last month, MPIC has approved an equity fund raising exercise meant for future acquisitions and broadening its investor base.

[More...]

Metropolitan Bank's Boutique Services a Success With 'Emerging Affluent'

Tue, 23 Jun 2009 13:09:00 GMT

Jun. 23--Metropolitan Bank's office in Memphis looks unusual enough: No tellers, no velvet rope, no tellers' counter and local artwork instead of promotional posters.
The 15-month-old bank licensed the car as a branch bank with the State of Tennessee.
The Ridgeland, Miss.-based institution started doing business in March 2008 with $116 million in total assets and $71 million in total deposits.

[More...]

Peso, Stocks Rise on Improved Sentiment

Mon, 04 May 2009 19:48:00 GMT

May 5--At the Philippine Dealing System, the local currency appreciated following a surge in regional currencies and the weakening dollar, a trader said.
The peso closed at 48.120 to against the greenback from last Thursday's 48.350 finish.
Trading volume eased to $682.775 million from $962.750 million on Thursday.

[More...]

State Gains Little in Bank Bailout: Some Say No to Share of Billions; No Proof of Lending

Thu, 12 Feb 2009 13:50:00 GMT

Feb. 12--Four months after billions of taxpayer dollars began pouring into many of the country's banks, Michigan has yet to see any major tangible benefits from the government bailout program.
And the large national and regional banks that got the most money aren't able to show that they've used the money to increase lending in the state.
In Michigan, experts said that unless things change, the money won't significantly help businesses and consumers obtain loans as the government intended.

[More...]

7 Local Stocks Dip Below $5: Companies' Share Prices Flirt With 'Penny' Status

Wed, 28 Jan 2009 12:18:00 GMT

Jan. 28--The last four months have been a rough time for the nation's stock markets, but they have been particularly tough on seven local stocks.
A year ago, all but N-Viro were trading at well above $5 -- the threshold below which commonly indicates what some investors call a "penny" stock that is traded over the counter or on the Pink Sheets listings.
N-Viro, a waste treatment firm, is traded over the counter, and toymaker Ohio Art is on the Pink Sheets.

[More...]

Gordon Hits AMLAC Over Bolante Accounts

Wed, 07 Jan 2009 16:46:00 GMT

Jan. 8--Sen. Richard Gordon slammed the Anti-Money Laundering Council (AMLAC) on Wednesday for allowing the 32 frozen bank accounts of former Agriculture Undersecretary Jocelyn "Joc-Joc" Bolante to lapse without raising even a whimper.
"The AMLAC is remiss in its duties.
Gordon was particularly dismayed that on December 10, the council's Executive Director Victor Aquino assured the blue-ribbon committee that they had already obtained evidence of money laundering against Bolante and that a report is being prepared for submission to the Court of Appeals.

[More...]

Many Banks Open During Long Christmas Holiday

Wed, 24 Dec 2008 16:49:00 GMT

Dec. 25--Many banks in the country will be open during the holidays, on the back of the central bank's directive that gives the institutions an option to continue deposit and withdrawal services during the long break.
Bank of the Philippine Islands (BPI) said its branches were open Christmas Eve, and its mall branches will be open on December 27, 28 and 29.
This means that BDO depositors will continue to enjoy access to banking products and services even when banks are not normally open for business.

[More...]

MTS Allstream decroche un contrat de cinq ans avec Hydro One Telecom

Tue, 11 Aug 2009 17:20:00 GMT

La societe fournira une liaison IP a 2,5 gibabit/s entre Sudbury et Thunder Bay Symbole boursier : MBT[More...]

MTS Allstream Wins Five Year Contract with Hydro One Telecom

Tue, 11 Aug 2009 17:20:00 GMT

Will Provide 2.5 gigabit IP link from Sudbury to Thunder Bay Stock Symbol: MBT TORONTO, Aug. 11 /CNW/ - MTS Allstream Inc. ("MTS Allstream") announced today that it has won a five-year contract with Hydro One Telecom to provide a 2.5 gigabit IP connection between Sudbury and Thunder Bay. The connectivity will help Hydro One Telecom, a wholly-owned subsidiary of Hydro One Inc providing telecommunications services to customers in Ontario, to deliver state-of-the-art broadband telecommunications solutions to its customers.[More...]

MTS Allstream First in Canada to Provide Internet Customers Access to the Latest Version of Microsoft Windows Live Services

Fri, 07 Aug 2009 10:45:00 GMT

Stock Symbol: MBT WINNIPEG, Aug. 7 /CNW/ - MTS Allstream Inc. ("MTS Allstream") is pleased to be the first telecommunications company in Canada to provide customers access to the latest generation of Microsoft Windows Live services using an MTS email address.[More...]

Manitoba Telecom Services Inc. - Q2 Earnings Announcement Conference Call & Webcast - August 7, 2009

Thu, 06 Aug 2009 11:55:00 GMT

WINNIPEG, Aug. 6 /CNW/ - Notification of Q2 Earnings Announcement Conference Call & Webcast: Manitoba Telecom Services Inc. (TSX: MBT)[More...]

Webcast Notice - Manitoba Telecom Services Inc. to hold Second Quarter 2009 Conference Call

Thu, 30 Jul 2009 13:25:00 GMT

- Notice of Webcast - WINNIPEG, July 30 /CNW/ - Manitoba Telecom Services Inc. ("MTS" or the "Company") (TSX: MBT) will hold a conference call with the investment community to discuss the Company's second quarter 2009 financial results on Friday, August 7, 2009 beginning at 9:00 a.m. Eastern time. The media and public are invited to listen to the conference call via live Webcast on MTS's Web site (www.mtsallstream.com).[More...]

BenchmarkJournal.Com Free Analyst Review for WL, URS, AVY, HLX, MBT and PHG

Wed, 22 Jul 2009 14:19:00 GMT

Benchmark Journal brings independent company and sector research together, utilizing top financial advisors and investment tactics to provide you with a clear picture of investment opportunities.
Today we began research on Wilmington Trust Corporation (NYSE: WL), URS Corp. (NYSE: URS), Avery Dennison Corporation (NYSE: AVY), Helix Energy Solutions Group Inc. (NYSE: HLX), Mobile Telesystems OJSC (NYSE: MBT) and Koninklijke Philips Electronics NV (NYSE: PHG).
To view our research, sign up now and get started with your complimentary subscription.

[More...]

Services de devises Calforex choisit MTS Allstream pour sa solution transcanadienne de communications unifiees

Tue, 07 Jul 2009 17:19:00 GMT

Symbole boursier : MBT TORONTO, le 7 juill. /CNW/ - MTS Allstream Inc. ("MTS Allstream") a ete choisie comme fournisseur d'une solution de communications unifiees pour les activites canadiennes de Services de devises Calforex ("Calforex"), l'un des courtiers en devises etrangeres les plus rapides et les plus fiables au monde; l'entreprise peut en effet troquer des devises avec pratiquement n'importe quel pays du monde.[More...]

MTS and Nokia Enter Strategic Partnership

Fri, 05 Jun 2009 09:20:00 GMT

Mobile TeleSystems OJSC , the largest mobile phone operator in Russia and the CIS, and Nokia signed the memorandum of understanding on the direct delivery of Nokia devices to MTS' retail network. The first joint project of the two companies will be the priority sales launch of Nokia N97, Nokia's flagship mobile computer, equipped with exclusive software from MTS.[More...]

MTS Signs a Syndicated Loan Facility Agreement

Mon, 18 May 2009 13:10:00 GMT

Mobile TeleSystems OJSC , the largest mobile phone operator in Russia and the CIS, announces that it has signed a facility agreement to refinance a portion of its $1.33 billion syndicated loan facility.[More...]

MTS Ranked in the World's 100 Most Powerful Brands With a Brand Value of $9.2 Billion

Tue, 28 Apr 2009 10:07:00 GMT

MOSCOW, April 28 /PRNewswire/ -- Mobile TeleSystems OJSC ("MTS" - NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announced that it has been named as one of the BRANDZ(TM) Top 100 Most Powerful Brands, a ranking published by the Financial Times and Millward Brown, a leading global market research and consulting firm.
For the second year in a row, MTS joins the ranks of the most powerful brands in the world with a value of $9.2 billion at the 71st position.
As in 2008, MTS is the most valuable Russian brand in the ranking and one of the 10 most valuable telecoms brands in the world.

[More...]