Mastercard Incorporated (MA) announced its quarterly dividend of 30 cents per share, an increase of about 100% over its prior dividend in January of 15 cents. The dividend will be paid on May 9 to shareholders on record as of April 9.
Tuesday 2/7 Insider Buying Report: CME, PULB
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
Bernanke downplays jobs upturn
Federal Reserve Chairman Ben Bernanke sticks to the script when testifying before the Senate Finance Committee, despite signs of a strengthening economy, leading to further talk of a Federal Reserve that is behind the curve.
Coca-Cola Announces Earnings
Coca-Cola (KO) today reported quarterly results that beat expectations and announced plans to implement a new cost savings program. Fourth quarter net income fell by 71 percent versus the same period last year, to $1.65 billion, or 72 cents per share versus $5.77 billion, or $2.46 per share.
Tuesday 2/7 Insider Buying Report: HAL, SHOR
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
Tuesday Sector Laggards: Shipping, Non-Precious Metals & Non-Metallic Mining Stocks
In trading on Tuesday, shipping shares were relative laggards, down on the day by about 2.1%. Helping drag down the group were shares of Excel Maritime Carriers (EXM), off about 7.2% and shares of Frontline Limited (FRO) down about 3.9% on the day.
Central Bank of Jordan Raises Rate 50bps to 5.00%
The Central Bank of Jordan raised its key monetary policy interest rates by 50 basis points. The following rates were affected: the overnight deposit window rate will go up to 2.75% from 2.25%, the overnight repurchase agreement rate will increase to 4.75% from 4.25%, and the rediscount rate will go up to 5.00% from 4.50%. The Bank said: “This action aims at supporting monetary stability by curbing expected inflationary pressures and ensuring a competitive return on the JD’s denominated assets; which would promote both domestic and foreign investment environment and support sustainable economic growth rates.”
The Bank last raised rates 25 basis points in June last year, while it last lowered monetary policy interest rates by 50 basis points in February 2010. According to the IMF the Jordanian economy grew by 4.1% in 2010, while inflation average inflation and annual inflation was 5.28% and 5.33% respectively, compared to 4.4% in 2011. Jordan’s currency, the Jordan Dinar (JOD), has traded close to the US dollar over the past year, with the USDJOD exchange rate last trading at 0.71
BP Announces Earnings
BP (BP) announced on Tuesday that it earned a profit of $7.69 billion, 38 percent higher than the $5.57 billion profit in the same period last year. Revenue increased by 15 percent to $96.3 billion.
Feb 2012 Forex Forecast
Introduction:
The Dollar index will have to slide down if it breaks the major support level. Seeing all the improvements in the global economy, this was going to happen and many foresaw it. The dollar index has come down to 78.5 after breaking the crucial support level of 80. This was on the back of improvement in the United States data and good cues from Europe as well. The United States markets have also rallied nearly 3 – 4 % this past week. And most of the world economies are in a short term up trend, which is bad news for the Dollar index. If this continues and the Greek debt crisis tends to slow down, then the Dollar index would see lower levels.
Factors Affecting:
The factors affecting this breakdown on some good volumes, is the improvement in the global economy and some depreciation of the dollar against currency of some major economies. As said, the earnings season will play a major impact in this market and also will decide the move of the dollar index. There were some strong earnings by some blue chip companies in the United States and analysts feel that this will lead to a new shorter term uptrend.
Technical Analysis:
In the chart below, the index has fallen below the crucial and important level, i.e, 80. This level has been acting as a good support in the medium term. As this was a major resistance for the Dollar index to break on the upside, many analysts would have assumed that this index will find very difficult to break the 80 mark on the downside. So, to confirm this break down, we need to see whether the index will continue to remain in this range or below 80 for quite some time.
Forecast:
Medium term traders who were long in the index would hold on to their positions and see whether the Dollar is clinging back above the 80 mark. Short term traders would rather wait for all this drama and the earnings season to complete and then have a fresh call on the Dollar index. The longer term trend is still up, so the long term traders wouldn’t have to worry about this fall. The Greek debt problems has got legs to come back in to the markets and we shall see some handsome returns if those problems come back.
If you have more forex questions please feel free to visit ask-fx.com.
Disclaimer:
THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Risk appetite returns with hopes of Greek deal
By TraderVox.com
Euro continues to be the main focus of attraction during the US session. Reuters reported that the Greek deal will be put in front of politicians. If this is to be believed then it is a good development for Euro. The single currency reacted positively to the developments and has broken the resistance of 1.3230 successfully which it was unable to breach four times last week.
The upbeat sentiment in the market propelled the Euro to a high of 1.3268, level last seen on 12th December. The resistance now lies at 1.3300 and above at 1.3370. The support now can be found at 1.3200 and below at 1.3120.It is currently trading at 1.3249, up about 0.90%.
The sterling pound also followed the US dollar weakening move and surged to close to 1.5900 levels. It pierced through 1.5900 mark briefly to print a high of 1.5903, levels last seen on 15 November. The resistance now lies 1.5900 and above at 1.5940/50 levels. The support may now be found at 1.5860 and 1.5820. The pair has surged half a percentage today.
The US dollar plummeted against the Swiss Frank following the general trend and broke the 0.9200 levels. It is now trading around 0.9125, down about 0.70% and threatening the 0.9100 levels. The support may be seen at 0.9110 and 0.9080. The resistance may be seen at 0.9150 and 0.9200.
The USD/JPY is currently trading at 76.85, up about 0.40%. It printed a high 76.96. It failed to break an important resistance of 77. Support now may be found at 76.80 and resistance at 77.
Australian dollar did not rally like Euro and GBP but it regained an important level of 1.0800. The pair failed to break the strong resistance of 1.0810/20. The high of 1.0821, printed during the European session is still in tact. The Australian dollar is currently trading at 1.0802, still up about 0.70%. The support now lies at 1.0780 and 1.0750. The resistance may be seen at 1.0810 and 1.0900.
The dollar index plummeted well below 79. It is currently trading near its low of the day at 78.63. The low so far is 78.56. The risk appetite has returned during the US session after Bernake expressed the concern over slow recovery of US economy.
Article provided by TraderVox.com
