If you think Snooki is not worth all the hype and gets paid too much money for acting a fool on national television…. you’re not alone!Snooki has been voted to the most overpaid celebrity!! The new survey was done by FITNESS Magazine and Yahoo! F…
Analyst Moves: AAPL, SWKS
Apple (AAPL) today had its price target raised to $699 by Jefferies (JEF), as the firm expects the new iTV product to be a hit. Shares are higher by over 2.7 percent.
Susquehanna Says Buy Walgreen April $33 Calls On Potential Volatility
Susquehanna released a note to clients advising to buy Walgreen (NYSE:WAG) April $33 calls as the stock may rise in the wake of an FTC announcement on Express Scripts (NASDAQ:ESRX) and Medco (NYSE:MHS) merger.A Susquehanna derivative strategist Christopher Jacabson said there was a high probability of near-term volatility.Shares of Walgreens rose 2.1% to $33.48 on March 9th.
CNN May Acquire Mashable.com
Time Warner’s (NYSE:TWX) CNN is in talks to acquire website Mashable.comMashable reports on technology and social media news and has been privately held for seven years.Last year, CNN.com acquire iPad app Zite for around $20- 25 million, which allows users to read and view what users are interested in reading.A spokeswoman for Mashable declined to comment.Time Warner (NYSE:TWX) has potential upside of 16.1% based on a current price of $36.38 and an average consensus analyst price target of $42.25.
What’s In The News: March 13, 2012
This is what’s in the news for Tuesday, March 13, 2012. The Wall Street Journal reports that on Wall Street, increasing appetites for borrowing and investing are fueling a bond market revival, increasing revenue at firms that took a beating in 2011. Bloomberg reports JPMorgan Chase & Co. (NYSE:JPM) last year became the first bank to crack the list of 10 largest U.S. stock and bond fund managers, according to Strategic Insight. Bloomberg also reports Germany’s government may start the sale of its real estate management company next month, looking to raise over $2.3B to reduce its deficit, sources say. Finally, Reuters reports The Renault, Nissan (NSANY) alliance will take a majority stake in Russian automaker AvtoVAZ in the coming weeks.
Central Bank of Russia Holds Refi Rate at 8.00%
The Central Bank of Russia kept its benchmark refinancing rate steady at 8.00%. The Bank said: “The dynamics of the main macroeconomic indicators in January showed that the rates of growth in consumption were still higher than in production. Real wage growth rate remained high, partly due to its dynamics in the public sector of economy, while the rate of unemployment remained rather low. The consumer credit activity also stays robust. At the same time production growth rates remained moderate and economic confidence indicators kept rather weak in the recent months. Considering recent domestic and international macroeconomic developments the Bank of Russia judged that the current level of money market interest rates within the interest rate corridor was appropriate in the coming months.”
The Russian central bank previously cut the refi rate 25bps at its December meeting, while it last raised the fixed overnight deposit rate by 25bps to 3.50% in May, and the benchmark refinancing rate by 25 basis points to 8.25% in April this year. Russia reported annual inflation of 4.1% in January, down from 6.8% in November, 7.2% in September and October, down from 8.2% in August, 9% in July, and 9.4% in June, meanwhile Bank Chairman Sergey Ignatiev is trying to keep inflation between 6% and 7%.
Russian economic growth was recorded at 5.2% y/y in Q3 this year, compared to 3.4% in Q2, 4.1% in Q1, and 4.5% in the December quarter of 2010; the IMF is expecting 4.5% growth for the full year. The Russian Ruble (RUB) has weakened about 4% against the US dollar over the past year, while the USDRUB exchange rate last traded around 29.41. The Bank plans to meet again in early April.
Bank of Japan Announces 2 trillion yen Enhancement to Loan Program
The Bank of Japan held its interest rate at 0-0.10% and announced 2 trillion yen of enhancements to “the Growth-Supporting Funding Facility” (GSFF) resulting in the GSFF expanding to 5.5 trillion yen. At the Bank of Japan’s regular meeting, board member Mr. R. Miyao proposed to increase the amount of the Asset Purchase Program by about 5 trillion yen, but the proposal was defeated by a majority vote. The Bank noted it will continue with “powerful easing” until it judges its new 1 percent inflation goal to be in sight.
The Bank said: “Japan’s economy currently confronts the long-term structural challenge of declining trend growth rates amid rapid population aging. Tackling this challenge is crucial for establishing a new basis for economic growth. The goal of overcoming deflation will be achieved through such efforts to strengthen growth potential and via support from the financial side. With this in mind, it is important for business firms, financial institutions, the government, and the central bank each to continue exerting themselves in their respective roles.”
The Bank of Japan added another 10 trillion yen to its 65 trillion yen quantitative easing program last month, after it expanded its asset purchase program in October by another 5 trillion yen to 55 trillion yen, and previously announced additions to its quantitative easing program during its August meeting. The Bank had previously changed its asset purchase program in March last year, when it added a further 5 trillion yen to its target.
Tuesday 3/13 Insider Buying Report: GDI, NMFC
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
Euro gains on better retail sales, above 1.3100
By TraderVox.com
Tradervox (Dublin) – Euro is gaining against the US dollar during the US session, recovering the earlier losses of the day. The EUR/USD pair is trading around 1.3115, still down about quarter of a percent for the day. The support may be seen at 1.3100 and below at 1.3080 levels.
The resistance may be seen at 1.3160 and above 1.3220. FED will announce the interest rate decision later during the day. The interest rate is expected to be kept unchanged. The retail sales came better at 1.1% against the expected value of 1%.
The Sterling Pound has deviated from its correlation with Euro as the cable has come above the 1.5700 levels. The pair is trading around 1.5740, up about 0.70% for the day. The pair has gained almost 100 pips in the last 3 hours. The support may be seen at 1.5700 and below at 1.5650. The resistance may be seen at 1.5760 and above at 1.5800.
The USD/CHF has come off the recent highs above 0.9200 and now during the US session has come below the 0.9200 levels. The pair is trading around 0.9198, up about 0.30% for the day. The resistance may be seen at 0.9200 and above at 0.9250. The support may be seen at 0.9150 and below at 0.9125 levels.
The USD/JPY is trading around 82.67, up about half a percent for the day. The resistance may be seen at 83 and 83.30 levels while the support may be seen at 82.55 and below at 82.30 levels.
The Australian dollar is trading around 1.053, up about quarter of a percent for the day against the US dollar. The pair has trimmed the earlier losses and is now trading in green. The support may be seen at 1.0500 and below at 1.0450. The resistance may be seen at 1.0560 and 1.0060 levels.
The US dollar index is trading around 80.43 off from the highs.
Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management.
Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox
Euro Declines as German Investor Confidence Rises
By TraderVox.com
Tradervox (Dublin) – A ZEW report on investor confidence in German showed that it rose to 21 month high, surpassing projections by many analysts of 12. The index rose to 22.3 from 5.4 in February hitting a six month high. The report came after the ECB gave financial institutions three year loans to alleviate the looming the credit crunch. This is the fourth month that this index has risen with the current reading being the highest since June 2011.
The report has eased fears of Germany ceding to economic pressure from its neighbors such as Italy and Spain which are languishing in debts. The country has emerged little scratched from the Greece debt crisis after reporting and economic growth of 3 percent in 2011. The country is expected to post a growth rate of 0.6 percent this year while Greece is expected to contract by 4.4%, Spain by 1 percent, and the whole eurozone is expected to contract by 0.3 percent.
During the release of the report, the ZEW institute indicated that the current Greece crisis seems to have “taken a pause for breath.” And also added that Germany has recorded good economic results due to the “good employment situation” and the good domestic demand it has experienced. The report also showed that concerns about the current economic situation in Euro region have reduced from 40.3 to 37.6. This is contrary to what many analysts and investors were expecting; they had projected an increase in this measure to 41.5.
After this announcement, the euro fell against the dollar to 1.3117 from 1.3145. This shows that the market is not yet ready for the big risks, even though it had showed some risk appetite for risk assets. The Greece crisis seems to cloud any positive news from the euro region as investors keep a close eye on development in countries that are on the verge of debt crisis such as Italy, Spain, and Portugal. Analysts have dropped fears of Germany getting into recession following the report by the region is not yet out of the thicket.
Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management.
Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox
