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Monthly Archives: October 2012
” Express Hits the Brakes in September
Clothing chain Express said business was going well in August, but then got detailed last month! As a result, third-quarter earnings will be no more than $0.20 a share, compared with previous guidance of $0.27 to $0.32. EXPR craters 17 percent before the bell on my tradeMONSTER platform.”Comments »
“Check Point Software Technologies Ltd. (CHKP) slid the most in a month as RBC Capital Markets cut its price target for the world’s second largest network security maker by 18 percent amid increased competition.
The Israeli technology developer dropped the most since Aug. 30 in New York yesterday, after posting a 4.5 percent advance in September, the first monthly gain in six months. Check Point led the Bloomberg Israel-U.S. equity index of the most traded Israeli companies in New York down 1 percent to 85.85. Allot Communications Ltd. (ALLT), the Israeli developer of network traffic management technology, was the biggest decliner on the index. The TA-25 Index gained 2.1 percent in Tel Aviv today as trading resumed after a two-day holiday.”Comments »
“Oil traded near the highest close in a week after a measure of U.S. manufacturing beat economists’ forecasts and before a report forecast to show shrinking fuel supplies in the world’s biggest consumer of crude.
Futures were little changed in New York after advancing for a third day yesterday. The Institute for Supply Management’s U.S. factory index increased to 51.5 in September, exceeding the median forecast of 49.7 in a Bloomberg News survey. Crude supplies in the U.S. probably gained last week, while gasoline and diesel inventories shrank, according to a separate survey.
“We’ve seen a bounce off recent lows, and I think the primary motivator was the ISM figure,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney. “It points to the fact that we’re seeing what looks like an improvement in the rate of growth in the U.S. economy.”Comments »
“Australia’s central bank resumed cutting its benchmark interest rate to revive demand outside of a resource boom that may crest at a lower level than previously expected, sending the nation’s currency to a three-week low.
Governor Glenn Stevens and his board lowered the overnight cash-rate target by a quarter percentage point to 3.25 percent, the Reserve Bank of Australia said in a statement in Sydney today. The decision to end a three-meeting pause was predicted by nine of 28 economists surveyed by Bloomberg News, while the majority had forecast no change.”Comments »
“South Korea’s inflation accelerated the most in three months in September after typhoons damaged crops and a holiday boosted demand for food, according to a report nine days before the central bank decides interest rates.
Consumer prices increased 2 percent from a year earlier after a 1.2 percent gain in August, Statistics Korea said today in Gwacheon, south of Seoul. The median estimate in a Bloomberg News survey of 12 economists was for a 1.8 percent gain. Prices rose 0.7 percent from August.”Comments »