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Akamai Misses, Shares Plunge - Analyst Blog
Thursday, July 29, 2010 - 4:22pm | 942Akamai Technologies Inc. (AKAM) reported second quarter 2010 earnings of 23 cents, missing the Zacks Consensus Estimate of 24 cents. Shares plunged more than 11% in morning trade on the Nasdaq. Earnings including stock based compensation but excluding onetime items increased 6.1% year-over-year,...
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Broadcom Reports Solid Quarter - Analyst Blog
Wednesday, July 28, 2010 - 1:18pm | 717Leading chipmaker Broadcom Corporation (BRCM) reported solid results for the second quarter of 2010, which beat both management and the Zacks estimates. Broadcom generated revenues of $1.604 billion in the second quarter of 2010, up 54.3% year over year and up 9.7% sequentially. The results...
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Stock Market News for July 27, 2010 - Market News
Tuesday, July 27, 2010 - 9:49am | 569The stock market rally continues. This time it was FedEx’s turn to fuel hopes that the economic recovery is gaining strength. Then, strong earnings reports and improved new home sales did their bit to take the Dow into positive territory for the year and the S&P 500 above a key technical level...
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US Air Force Awards $200 Million Contract To L-3 WESCAM
Monday, July 19, 2010 - 7:41am | 139L-3 Communications (NYSE: LLL) announced today that its WESCAM subsidiary has been awarded a third indefinite delivery/indefinite quantity (ID/IQ) contract from the U.S. Air Force. Valued at $200 million, the funding from this contract will be used to purchase the latest generation of L-3’s MXTM-...
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L-3 Awarded $200 Million U.S. Gov. Contract
Monday, July 19, 2010 - 7:36am | 139L-3 Communications (NYSE: LLL) announced today that its WESCAM subsidiary has been awarded a third indefinite delivery/indefinite quantity (ID/IQ) contract from the U.S. Air Force. Valued at $200 million, the funding from this contract will be used to purchase the latest generation of L-3’s MXTM-...
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Direxion Offers 2x Retail and Natural Gas
Friday, July 16, 2010 - 3:00am | 610Expansion of the leveraged ETF menu continued this week with the (7/14/2010) launch by Direxion of long and short 2x sector ETFs for the Retail and Natural Gas sectors. Direxion now offers a total of 38 leveraged ETFs, according to the firm’s press release. The new funds are: Direxion Daily...
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Big Money Yet to Buy Into July Rally 07-12-2010
Monday, July 12, 2010 - 6:40pm | 668Cusick’s Corner The major indices held up into the After Hours, minus the small caps like RUT. This does not totally dampen the potential for upside, but it is putting traders a little more on the alert. Alcoa (AA) announced and beat by a penny but the market in the After Hours is muted,...
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Earnings Season Kicks Off 07-12-2010
Monday, July 12, 2010 - 2:52pm | 765Cusick’s Corner Hope you all had a good weekend and are well rested for the kick off of the Q2 earnings season which is shaping up to be a busy one. The market looks to be content at this stage to stay in a tight, whippy range in front of the earnings announcements, but after last week’s action to...
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Stock Market News for July 7, 2010 - Market News
Wednesday, July 7, 2010 - 10:13am | 583Selective buying helped propel stocks higher Tuesday after seven days of losses, but the advance was tepid as concerns about the durability of the economic recovery kept sentiments jittery. After recording hefty gains in the morning, markets slipped into the red in the afternoon as traders,...
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Bears In Control 07-06-2010
Tuesday, July 6, 2010 - 6:51pm | 814Cusick’s Corner While the market did hold some gains, it became very apparent who is in control of this market -- the bears. It is worth taking a look at the safety trade, Bonds, specifically TLT, TIP, and LQD are on a tear. If you look at TLT which is the iShares Barclays 20+ Year Treasury Bond...
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Oversold Bounce in Bearish Market 07-06-2010
Tuesday, July 6, 2010 - 2:55pm | 737Cusick’s Corner This is a nice bounce into the Midday after a great long weekend but it seems to be more of an oversold bounce in a bearish tending market. There is a lack of volume in key sectors -- Consumer Discretionary (XLI), Finance (XLF), Tech (XLK), and Industrials (XLI), plus there needs...
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Goldman Sachs Cuts Estimates On Home Improvement Stocks (LOW, HD)
Tuesday, July 6, 2010 - 10:22am | 130In a research report released this morning, Goldman Sachs' (NYSE: GS) analysts said that they are lowering estimates on Home Improvement stocks. The firm's price target on Home Depot (NYSE: HD) goes from $38 to $34 and their target on Lowe's (NYSE: LOW) has been lowered from $29 to $25. The...
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Hood Likes Home Depot (HD) And Lowe's (LOW)
Friday, July 2, 2010 - 12:53am | 129Retail analyst Wayne Hood of BMO Capital Market was on the CNBC Fast Line today. Hood is bullish on Home Depot (HD) and Lowe's (LOW). He has upgraded the stocks to market perform believing that these 2 stocks have bottomed up. He loves the business models at both companies and believes that they...
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Afternoon Market Update (DAL, PNCL, FOE, HD, LOW)
Thursday, July 1, 2010 - 2:53pm | 224Delta Air Lines (NYSE: DAL) has planned to sell its two regional subsidiaries for a total value of $82.5 million. It has made this decision to get rid of the less profitable routes. The company would sell Mesaba to Pinnacle Airlines Corp (NASDAQ: PNCL) for $62 million and Compass Airlines to Trans...
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Retail Sector Moves Into The Red, After Briefly Moving Up
Thursday, July 1, 2010 - 10:19am | 118Retail stocks opened into the black today after BMO Capital Markets bumped up the ratings of home-improvement retailers Home Depot Inc (NYSE: HD) and rival Lowe's Cos (NYSE: LOW) from “underperform” to “market perform.” However, after a brief surge, the sector has moved into the red, with the...