Author: FX_Trdr

From Fnno.com, you’re watching the Financial News Network. Coach (NYSE:COH) reported fiscal fourth quarter earnings this morning, posting an EPS of $0.86, topping estimates by one cent. Revenues in the quarter rose 13% to $1.16 billion, missing estimates of $1.2 billion.The company says the lower-than-expected revenue is due to lower sales in the U.S. Overseas sales, especially in China, is what led the company to a higher profit.For the full year, Coach’s earnings were $1 billion or $3.53 a share. This was higher than the previous year of just $2.92 a share. The lower sales in the U.S. have scared investors this morning. The company’s stock is down over 17% to $50.23. For more financial news and analysis, follow us on Twitter @FNNOnline, or check out our website at fnno.com

Supermarket chain Supervalu Inc. has ousted its CEO, the company said in a statement today. Craig Herkert has been been replaced as CEO in favor of the company’s chairman, Wayne Sales. Herkert was formerly Walmart’s president and CEO of the Americas from 2004 to 2009. Wayne Sales, previously the CEO of Canadian Tire Corp Ltd, has stated that his first order of business will be to reduce costs for the company. Despite being appointed to both president and chief executive, Sales will continue to serve as chairman as well.Supervalu is the third largest supermarket chain in the United States. The chain recently reported a decline in earnings of 45% in the last quarter and was considering a sale of part or the entirety of the company. For more on this story and analysis of the business world follow us on twitter @FNNOnline.

Video game giant Electronic Arts is already in talks to support Microsoft’s new Windows 8 mobile operating system. EA hopes to bring games like Medal of Honor, The Sims, and World Series of Poker to devices that support Microsoft’s OS, including its new Surface tablet.This move comes as video game publishers want to focus less on physical copies of games and more on digital distribution. EA has said that the new platform will be central to its longterm strategies. The company is currently in talks with Microsoft about what gaming should be on the new platform.The Windows 8 mobile operating system will be released later this year.

Yahoo (NASDAQ:YHOO) will be one to watch this morning with the release of its earnings and the integration of its new CEO. Yesterday, the internet company posted second quarter earnings per share of $0.18, that’s below analyst estimates of $0.20 a share. Revenue for the quarter fell 1% to $1.08 billion, just below analyst estimates of $1.10 billion. Income fell 4% from the prior year as well to $227 million.Although not great earnings, investors are now looking to see what the new CEO Marissa Mayer will do to reinvigorate the company. Yahoo struggled through two different CEO’s last quarter, Scott Thompson and then interim CEO Ross Levinsohn so both the Yahoo’s board and investors are looking for a change. The biggest challenge Mayer will face: finding a way to compete with rivals such as Google and Facebook.

In even more bad news for the U.S. Postal Service, the struggling agency announced today that it lost $5.2 billion in the third quarter of fiscal 2012. This brings the Postal Service’s total 2012 losses up to $11.6 billion, compared to $5.7 billion a year ago. The agency announced these numbers as it continued to ask Congress for postal reform legislation. The Senate passed a postal bill in April, but many don’t expect the House to consider such a bill until November’s elections. The Postal Service did attain growth of 9.9 percent in revenues from shipping packages, reaching $3.3 billion. However, that growth was not nearly enough to staunch the losses flowing from the agency. For more on the latest business news, follow us on Twitter @FNNOnline, or check out our website at fnno.com

Concerns over weakness in Japan’s economy and a possible slowdown in China kept the markets under pressure today. Google (GOOG) announced plans to lay off about 4,000 workers at Motorola Mobility.

CH Robinson Worldwide Incorporated (CHRW) maintained its quarterly dividend of 33 cents per share. The dividend is payable on October 1 to shareholders of record on September 7.

In trading on Monday, paper & forest products shares were relative leaders, up on the day by about 1.4%. Leading the group were shares of Louisiana Pacific (LPX), up about 3.9% and shares of International Paper (IP) up about 3.6% on the day.

Yahoo! News Washington Bureau Chief David Chalian interviews David Walker

By CountingPips.com

The latest Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that overall US dollar long positions by large futures speculators were unchanged last week from the week before. The long dollar positions had fallen for the previous two straight weeks as traders boosted positions in the other major currencies.

Non-commercial large futures traders, including hedge funds and large speculators, maintained their total US dollar long positions at $13.65 billion on August 7th from a total long position of $13.65 billion on July 31st, according to the CFTC COT data and calculations by Reuters which calculates the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc.

Individual Currencies:

EuroFX: Currency speculator sentiment for the euro improved for a third consecutive week last week and remained at its best level since May. Euro net short positions or bets against the currency fell to 131,711 contracts on August 7th from the previous week’s total of 138,994 net short contracts on July 31st. Euro short positions are at their best level since May 1 when short positions equaled 106,990 contracts.

The COT report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity.

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)

GBP: British pound sterling positions declined after improving slightly for three consecutive weeks. British pound sterling speculative positions totaled 8,275 net short contracts on August 7th following a total of 1,810 net short contracts on July 31st. Last week’s position for the British currency was the lowest level since June 19th when short positions equaled 17,153 contracts.

JPY: Japanese yen speculative contracts dipped slightly on August 7th following five consecutive weeks of increases. Yen positions fell to a total of 27,539 net long contracts reported on August 7th following a total of 32,254 net long contracts on July 31st.

CHF: Swiss franc speculator positions edged higher last week to increase for a second consecutive week. Speculator positions for the Swiss currency futures registered a total of 17,915 net short contracts on August 7th following a total of 18,808 net short contracts as of July 31st.

CAD: Canadian dollar positions advanced higher for a second consecutive week after after being on the short side for two weeks. Canadian dollar positions rose to a total of 19,122 net long contracts as of August 7th following a total of 12,449 net short contracts that were reported for July 31st. The Canadian currency positions are now at the  highest level since May 29th when long positions equaled 34,085 contracts.

AUD: The Australian dollar positions once again surged sharply higher last week and brought Aussie trader sentiment to its highest level since March. Aussie speculative futures positions advanced to a total net amount of 52,894 long contracts on August 7th after totaling 37,235 net long contracts as of July 31st. The improvement in Aussie contracts pushed positions to their highest level since March 26th when long positions totaled 59,574 contracts.

NZD: New Zealand dollar futures speculator positions increased for a ninth straight week and jumped to the highest level since March. NZD contracts increased to a total of 14,588 net long contracts as of August 7th following a total of 10,347 net long contracts on July 31st. The kiwi contracts are now at their highest level since March 5th when contracts equaled 16,788 long positions.

MXN: Mexican peso speculative contracts surged higher last week after dipping slightly the previous week. Peso positions increased to a total of 69,378 net long speculative positions as of August 7th following a total of 47,556 long contracts that were reported for July 31st. Peso positions are now at their highest level since April 2nd when long positions equaled 84,503 contracts and stood at their highest level of the year.

COT Currency Data Summary as of August 7, 2012
Large Speculators Net Positions vs. the US Dollar

EUR -131711
GBP -8275
JPY +27539
CHF -17915
CAD +19122
AUD +52894
NZD +14588
MXN +69378