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- CEMIG A Brazil Buy Up To $27
We are keeping our Buy recommendation on Companhia Energetica de Minas Gerais, or CEMIG (CIG). The company posted positive results for the second quarter of 2008, and the short-to-medium term outlook remains promising as demand for electricity in Brazil keeps growing.
We believe that the company will also benefit from the upgrade of the Brazilian Electric Sector by Moody’s. Moreover, we have a positive outlook for the Brazilian economic environment in the … [visit site to read more]
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Переслать - BJ Beats, Guidance Disappoints
BJ’s Wholesale Club (BJ) reported strong results for the second quarter with total sales growth of 17.9% and comp-store sales growth of 15.5%. Its earnings per share were up 31.8% year-over-year and were $0.04 above consensus expectations. The company’s efforts to improve its merchandise and increase store traffic continue to drive its sales. The difficult macro economic conditions are also pushing customers into discount stores and wholesale clubs, which offer a better value … [visit site to read more]
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Переслать - Geopolitical Risk Rising Sharply
Gold finished trading in New York yesterday at $810.30, down 50 cents and silver was down 10 cents to $13.03. Gold and silver then rallied in Asian trading and early European trading. Gold is trading at $821.30/821.70 per ounce (1045 GMT).
Gold is finding favour again with the dollar having weakened again (as low as 1.4829 to the euro) and oil prices rising (London Brent Spot has surged 3.45% to over $113). Also risk … [visit site to read more]
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Переслать - Mid-America Apts Undervalued
Mid-America Apartments (MAA) reported 2Q FFO [funds from operations] of $0.95 per share, 13% higher than the year-earlier period and $0.02 per share higher than our estimates. Steady operating results and lower interest expense were the main reasons for the increase.
The company expects multi-family fundamentals to weaken in the coming quarters due to a stagnant US economy and lack of meaningful job growth. We still rate the company a Buy due to valuation and yield. MAA is … [visit site to read more]
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Переслать - Home Prices Have Stopped Falling - Statistics Are Skewed
This excerpt from a response to the Sacramento Bee real estate blog gives me doubts concerning the "accuracy" of the median price data of the current crop of existing home sales. If you are a regular reader here you know I have been tracking the Sacramento area real estate market for several months. If not, use my real estate category for background. The Sacramento market has been surging in home sales for the last 4 months with year-over-year and month-over-month gains for each of those … [visit site to read more]
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Переслать - Foreign Economies Must "Decouple" From The U.S. By Suspending Lending To Americans
Economists, who now see American troubles spreading around the world are predicting that foreign central banks will ignore the gathering inflation threat and follow the U.S. Federal Reserve down the rate-cutting path. Similarly, they argue that since the downturn began here, the recovery of the U.S. economy will likely be under way while the rest of world is still decelerating.
These assumptions have prompted a recent rally in the U.S. dollar, and an accompanying sell-off in gold, … [visit site to read more]
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Переслать - It's Almost Like A 2% Inflation Target Since 1993
The chart above shows annual inflation since 1973, calculated from the BEA’s monthly personal consumption expenditures price index, less food and energy (visit site to read more]
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Переслать - Profiting From The Emerging Markets Investment Banking Boom
By Martin Hutchinson
Emerging markets are the place for investment bankers to wheel and deal during the next couple of years, as bankers in Asia, the Middle East and Latin America earn an increasing share of investment banking revenue.
Emerging markets share of investment banking revenue has increased both in percentage share and total value over the past few years. In 2005, investment-banking revenue from emerging markets accounted for almost $40 billion, or 16% of … [visit site to read more]
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Переслать - Oil Jumps $6 To Above $121, Pulling Dollar Sharply Lower
Thursday’s picture of the forex markets is a different one from the day before. The US dollar had rebounded yesterday against major currencies such as the Euro, Swiss franc, Japanese yen and the British pound after a fall Tuesday, but then with the media’s crowded coverage of the soon-to-be-worthless mortgage giants Freddie Mac (FRE) and Fannie Mae (FNM), and the rebound of oil prices Thursday, bullish USD sentiment faded and downside stops were triggered … [visit site to read more]
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Переслать - Microchip With Near-Term Risk
Microchip Technology, Incorporated (MCHP) reported record revenues of $268.2 million in Q1:FY09, but was lower than our estimate of $271 million. Adjusted EPS (excluding one-time items) came in at $0.44, in line with our estimate. Business was strong across all segments.
Microcontroller sales were up 3% quarter over quarter [q/q] and up 2% year over year [y/y]. Flashbased controllers were up 3.5% q/q and 11.5% y/y. Non-GAAP gross margin came in at 61.6% from 61.5% in the … [visit site to read more]
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Переслать - uWink Q2/2008 Earnings: It's A Good Thing uWink Isn't A Restaurant Company
After taking a look at the latest quarterly results from uWink (UWKI.OB), parsing the numbers, and talking to management, it struck me that it's a good thing that uWink isn't a restaurant company because it was not a pretty picture…and then I caught myself.
You see, right now, uWink is indeed a restaurant company until they start selling and licensing their proprietary gaming and point of sale (POS) software on a large scale, which is the whole basis … [visit site to read more]
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Переслать - Could Vanguard Fund's Transformation Lead To An ETF?
Vanguard has transformed their Total International Stock Index Fund (VGTSX) mutual fund and left behind the fund-of-funds idea. Instead, it will invest in individual stocks. Could it possibly lead to an exchange traded fund (ETF) version?
While the provider claims that an ETF conversion is neither the goal nor the reason for changing this leading fund's strategy, it is not out of the question. In fact, Vanguard's two internationally … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Should The Israeli Government Bail Out The Textile Industry?
So today the Manufacturers Association of Israel is out calling on the government to implement some kind of emergency rescue program to save the fledgling textile industry. They say that due to the Shekel strength over the last year or so, exports have fallen and about 5% of workers in the industry have lost their jobs in '08.
According to a report in Globes: "While textile exports … [visit site to read more]
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Переслать - Wednesday: Daily Forex Analysis
Euro
The euro depreciated vis-à-vis the U.S. dollar Wednesday as the single currency tested bids around the US$ 1.4670 level and was capped around the $1.4805 level. The common currency gave up ground after NYMEX crude oil futures came off to the $112 handle after trading as high as the $117 figure. In eurozone news, Germany's economy ministry reported "economic dynamic could be somewhat subdued in the coming months. Noticeable reductions in consumer confidence and a … [visit site to read more]
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Переслать - One Man's Trash Is Another Man's ETF Treasure
Crowded landfills, global warming and skyrocketing commodities prices have led to a growing interest in waste management that could benefit related exchange traded funds (ETFs).
Waste management includes trash collection, separation, disposal and recycling, the latter of which has already gained more momentum as rising prices in raw materials has made the recycling much more profitable. Stricter disposal and recycling regulations caused by limited landfill space, especially in Europe, have … [visit site to read more]
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Переслать - New York's Plan Could Be Breath Of Fresh Air To Wind ETFs
Mayor Bloomberg's plan could make New York City the new Windy City while it helps power up wind-focused exchange traded funds (ETFs).
His proposal to generate more renewable energy for the city involves putting windmills on city bridges and rooftops, reports the Associated Press. Bloomberg doesn't seem to be full of hot air, either: he has issued a formal request for companies around the country for ways to … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Coal Stocks Set To Soar, Part 1
Old King Coal is about to be a much merrier old soul.
After a stunning 60 percent gain for the sector in the first half of the year, and then a correction almost all the way back down, my research suggests that we’re about to see another breathtaking run for the group.
Curiously, it seems to have much to do with the Olympics.
As was widely discussed in the press, China severely cut its use of fossil fuels, particularly coal, right around June in an all-out effort to clean up the air … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Maritime Industry Growth To Ship Out New Indexes, ETFs
One exchange traded fund (ETF) provider is setting its sights on a brand-new benchmark, the Delta Global Shipping Index (DGAGSI).
This index has been licensed to Claymore Advisors, who plans on launching a corresponding global shipping ETF. The index launched last week and is made up of 30 maritime shipping stocks, reports Index Universe. The components are considered for inclusion if they're generating 80% of their revenues from the … [visit site to read more]
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Переслать - Fannie And Freddie At ZERO - Good For The Market?
NEWS: The major indices were bounce above and below the flat line all day until a rally into the close helped all three finish in the green. The Dow put together a gain of 68 points or 0.6%. The S&P 500 added 7 points or 0.6% and the NASDAQ squeaked out a gain of 4 points or 0.2%. The small-cap indices followed the NASDAQ with a gain of 0.2%.
THE BOTTOMLINE: Today was driven by the financials, which were weak early on due to negative news regarding … [visit site to read more]
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Переслать - Stock Picks And Trade Ideas For Thursday - JDSU, LVS, CREE, NVDA
Chart courtesy of stockcharts ( click to enlarge )
Nvidia (NVDA) has a Bullish looking stock chart, price broke out from the horizontal resistance mark around $13/share Tuesday on a respectable volume in the face of a collapsing market. This … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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