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Oct 15, 2010

MarketWatch.- Personal Finance Daily.-No Social Security COLA, no hike in taxable wages. Oct. 15th., 2010

Personal Finance Daily
OCTOBER 15, 2010

Friday's Personal Finance stories

Don't miss these top stories:

By MarketWatch

While older Americans may bemoan the lack of a cost-of-living increase in their Social Security benefits next year (on top of no increase this past year, either) wealthy taxpayers are sitting prettier.

"Just as Social Security beneficiaries will see no increase in benefits, for the second straight year, highly paid wage earners will see no increase in the current wage base of $106,800 on which Social Security taxes are due for 2011," according to Wolters Kl.Law & Business, a research and services firm, in a release Friday.
The amount subject to FICA taxes is based on national average wages, not the consumer price index upon which Social Security benefit cost-of-living adjustments are based, Wolters Kluwer said. But the law prohibits an increase in the taxable wage base if there's no increase in benefits.

If there'd been a COLA adjustment last year, then the wage base would have risen to $109,200 for 2010, Wolters Kluwer law And even though average national wages declined this year, the wage base would have remained the same for 2011 since the Social Security Act does not allow it to drop from one year to the next. But since there was no COLA, it's a moot point.

But look out ahead: Some estimates predict the 2012 wage base will range from $113,400 to $114,300, according to Wolters Kluwer.

Andrea Coombes , Personal Finance editor

Social Security benefits won't rise in 2011

Social Security recipients will not receive a cost-of-living increase to their benefits next year, the government announced Friday, following data that showed few inflationary pressures.
Read more on Social Security benefits won't rise in 2011.


The housing crisis in 1933, and today

While the current mortgage meltdown and resulting housing bust has been described as the worst since the Great Depression, it's nothing when compared to what happened in 1933.
Read more on the housing crisis in 1933, and today.

Foreclosures, inflation and more

In a week where the "robo-signing" crisis grew, a report showed foreclosure filings rose 3% in September. RealtyTrac expects the foreclosure moratorium to result in a temporary decrease.
Read more on foreclosures, inflation and more.


What a Republican win would mean for investors

The Republicans seem headed for victory in next month's elections. Pollsters say they are likely to take control of the House of Representatives, after a four-year gap, and they might even win control of the Senate.
Read more on what a Republican win would mean for investors.

Gold, silver may buckle under pressure

Not everyone is overly bullish on the precious metals sector and with investor demand becoming an increasingly important and uncertain factor, confidence in the ability for gold and silver to sustain their rallies is starting to buckle under the pressure.
Read more on gold, silver may buckle under pressure.


Sports stadiums warming to solar power

Professional-sports teams and stadium owners are showing interest in a new informational guide for installing solar panels, with environmentalists and others pushing to remake arenas into exemplars of green-energy adoption.
Read more on sports stadiums warming to solar power.


Recession is tragedy for young, almost-old

Persistently high unemployment for teenagers is a tragedy that could haunt a whole generation for years. And the Great Recession has also been a disaster for older Americans that could ruin their finances for the rest of their lives.
Read more on recession is tragedy for young, almost-old.

Consumer sentiment edges lower in October

Consumer sentiment dropped in October, according to an index released Friday, showing the U.S. consumer is still wary with the U.S. jobs market weak.
Read more on consumer sentiment edges lower in October.

Core prices lowest in decades as CPI edges up

The index for U.S. consumer prices rose 0.1% in September, supported by gains in food and gasoline, as the annualized rate of core inflation was the lowest in nearly five decades, according to a Labor Department report released Friday.
Read more on core prices lowest in decades as CPI edges up.

More fiscal stimulus needed, Tyson says

Despite pressures to reduce the deficit, there is a strong argument for more fiscal stimulus in the areas of education, infrastructure and small businesses to boost the economy and reduce unemployment, an outside adviser to President Barack Obama said on Friday.
Read more on more fiscal stimulus needed, Tyson says.

U.S. budget deficit dips but is still near record

The U.S. government's gap between spending and income narrowed slightly in 2010, but it was still the second largest on record, according to fresh government data.
Read more on U.S. budget deficit dips but is still near record.

Bernanke caution doesn't dim asset buy view

While Federal Reserve Chairman Ben Bernanke was seen as cautious about a second round of bond buying to stimulate the economy, economists on Friday said that the underlying message was still that some sort of program would be enacted.
Read more on Bernanke caution doesn't dim asset buy view.

Bernanke makes case for cautious easing

Federal Reserve Board Chairman Ben Bernanke said Friday the poor economic outlook made the case for further easing but said caution in proceeding with any innovative policy was warranted given the lack of experience with new policy tools.
Read more on Bernanke makes case for cautious easing.

Empire State index jumps in October

Conditions for New York state manufacturers improved markedly in October, according to a report released Friday morning.
Read more on Empire State index jumps in October.

CNBC Evening Brief;Five Ways More Fed Easing Could Make Things Worse.Oct. 15th., 2010


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Mining In Europe: A Publication Of European Gold Centre. Introduction Company Report on Tasman Metals LTD.

a    p u b l i c a t i o n   o f
E U R O P E A N  G O L D  C E N T R E

Dear reader,
As a part of the changed format of the publications, the Introduction of a New Supporting Company will now be published as a stand-alone 4-page report.
With great pleasure, although later than announced before,  I herewith attach the

The company reperesents a unique possibility for investors to take an indirect interest in Rare Earth Elements, or as they used to be called Strategic Metals.
As the world markets of these REE's are dominated by China, which produces 95% of the world supply, it is interesting to see that Tasman Metals (TSXV-TSM: C$1.80) has acquired the best available REE properties in SWEDEN, FINLAND and NORWAY. With its Norra Kärr REE project it has the potential to develop the property to the production stage in the next few years. And for your information, Sweden was the place where several of these specialty metals were firstly discovered in the late 1800's…… History may be revisited…..!

Best regards,
Henk J. Krasenberg

Mining Interactive Zeal Intelligence Weekly::GDXJ Junior-Gold ETF 2 by Adam Hamilton. Oct 15th., 2010

Zeal Intelligence Weekly - " Dollar-Neutral Gold” by Adam Hamilton

Dear Friends:

Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click her

Zeal Intelligence Weekly


Brought to you by


Mining Interactive: Mawson Announces Strategic Private Placement With The Sentirnt Group. Oct. 15th., 2010

October 15, 2010
  • 5 million units @ $0.79 per Unit ($3.950,000).  Each unit consists of one (1) common share and one half (1/2) common share purchase warrant.  Each Full Warrant exercisable at a price of $1.20 per share for a period of two years; plus
  • 2 million Units @ $0.79 per Unit ($1.580,000) under the same unit and warrant terms;
  • Total $5.530,000
States Michael Hudson, Mawson President & CEO:  “Sentient has a strong reputation for investing in quality metal, mineral and energy assets across the globe and its long term support of these investments through its 10 year closed-end private equity fund structure.  The addition of such a prominent investor to Mawson’s share register represents an enormous vote of confidence in both our gold and uranium portfolio and the Company’s committed and talented team.”

Dear Friends:
This strong financial support bodes well for Mawson when moving forward.  The premium exercise price of one (1) Full warrant (2 half warrants) @ $1.20 indicates the faith Sentient has in the Company.
The additional approximate $5.5 million to fund exploration programs projects in Finland, Sweden and Peru on top of the $8.5 Cash on hand will give the Company some extra elbow room.

Stay Tuned - - there is much – much more to come from Mawson!!!
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"
Gold at Rompas Finland


MiningInteractive Videos
Click Here

Stay tuned for the most recent updates on Mawson Resources and other leading mining companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058

NYT: Afternoon Business News. Oct. 15th., 2010


Off the Charts

Global Trade Is Starting to Flag Again

Exports of many countries, even China, appear to be stagnant after initially rising briskly after the financial crisis. The United States has fared better than some.
Patient Money

The Time to Check the Fine Print on Your Health Plan

Benefit plans will be changing to take account of the new health care law, and employers will be looking for ways to pay along rising costs to employees.

U.S. Stocks Mixed on Fed Signal and Retail Sales

A slew of economic statistics and corporate results kept analysts sifting through potential scenarios for the stock market and economic recovery.

Sorting Myth From Fact as Volt Makes Its Debut

After years of promotion and trickles of information on the Chevrolet Volt, the car's arrival has prompted even more questions.

G.E. Quarterly Profit Falls 18%

But G.E. said profit from continuing operations rose 29 percent to $3.16 billion. And earnings per share increased 32 percent to 29 cents a share, beating expectations.

RTTNews Evening Market Wrap: Stocks End Mixed After Fed Leaves Out Specifics Of QE - U.S. Commentary . Oct 15th., 2010.

Evening Market Wrap Fri Oct 15 17:01 2010


Oct 15, 2010 Stocks End Mixed After Fed Leaves Out Specifics Of QE - U.S. Commentary Stocks ended on a mixed note on Friday after Federal Reserve Chairman Ben Bernanke's remarks failed to specify the size and scope of further asset purchases, adding to uncertainty regarding the effectiveness of the potential stimulus. Full Article

Economic News

Oct 15, 2010 Retail Sales Rise More Than Expected Retail sales climbed more than expected in September, according to new government data released Friday. The statistics also showed that sales for the previous month were better than people had previously thought. A sharp rise in auto sales helped bolster the results, which should ease some concerns about the health of the economy. Full Article
Oct 15, 2010 Consumer Price Inflation Remains Low In September U.S. inflation was held in check in September, fueling speculation the Federal Reserve will step up efforts to jump start the economy with a second wave of quantitative easing. Consumer prices rose very slightly last month, driven up by higher prices at the pump and grocery store, the Labor Department said Friday. Full Article

Corporate News

Oct 15, 2010 Reynolds American CEO To Retire; Announces Stock Split, Dividend Hike - Update Reynolds American Inc. (RAI) Friday stated that its Chairman, President and Chief Executive Officer Susan Ivey intends to retire on February 28, 2011. The company's board has elected Daniel Delen, currently Chairman, President and Chief Executive Officer of R.J. Reynolds Tobacco Co., as President- and CEO-elect of the company and a member of the board. His appointment will come into effect on January 1. Full Article

Forex Basic

Oct 15, 2010 Squeeze On Dollar Eases, Bernanke Mum On QE Details The dollar fought back against other majors on Friday, after Federal Reserve Chairman Ben Bernanke failed to detail the size and scope of the addition support measures needed to jump start the economy. The Fed is universally expected take further quantitative easing action, as dismal labor and housing markets threaten to derail the nation's fragile recovery. Full Article

FINANCIAL & FOREX INFO NEWS: Google Lifts Nasdaq While Banks and GE Hit Do.w. Oct. 15th., 2010

F & F I N


Google lifts Nasdaq while banks and GE hit Dow
U.S. backs off in currency dispute with China
Bernanke sees case for more Federal Reserve easing
Mozilo to pay millions in Countrywide settlement
U.S. inflation slows, keeping pressure on Fed
Apple's earnings to showcase one-two punch
Gannett shares tumble on dropping newspaper revenue
GE posts sales slump, rattles recovery hopes
Card delinquencies fall, but recovery elusive
GM recalls Chevy Impalas on seat belt issue

FINANCIAL AND FOREX INFO NEWS (F &F I N): U.S. Markets At Close Snapshot

U.S. Markets At Close Snapshot.
 Last Change % Chg
DJIA*11062.78 -31.79 -0.29
Nasdaq*2468.77  33.39  1.37
S&P 500*1176.19   2.38  0.20


The Wall Street Juurnal


The Washington Post: Ezra Klein's Wonkbook.- Health-care challenge boosted; helping homeowners; House looks at Social Security supplement. Oct 15th., 2010

 Friday, October 15, 2010
Wonkbook: Health-care challenge boosted; helping homeowners; House looks at Social Security supplement In Florida, Judge Roger Vinson has decided to let the case against health-care reform go forward. His ruling was only about whether the states have the "standing" to bring the case to court, but he also admonished the Obama administration for calling the individual mandate a "tax," rather than a "penalty." Since that was core to their argument, they'll now need to come back with a different constitutional justification.
Last week, of course, a federal judge in Michigan ruled on the case and said the bill was perfectly constitutional. And so the polarization of the judiciary moves forward: The Clinton appointee sees a constitutional tax, the Reagan appointee may or may not see something constitutional, but he definitely does not see a tax. But as has been true since the day these suits were filed, the question is not the bill's abstract constitutionality. If Democrats had appointed five Supreme Court justices whether than four, there would be no question. It is whether the five Republican appointees on the Court are interested in chipping away at it, or whether they'd prefer to avoid that confrontation with the administration and the Democrats.
It's Friday. Welcome to Wonkbook.
Top Stories

A legal challenge to health care reform will move forward, reports N.C. Aizenman: "The decision by Judge Roger Vinson of the U.S. District Court for the Northern District of Florida to reject the Obama administration's request to throw out the case was expected. During oral arguments over the government's motion to dismiss last month, Vinson had indicated that he was likely to rule at least partly in the states' favor. His ruling is limited to the plaintiffs' standing to mount the case, as opposed to its merits - which will be discussed at a summary judgment hearing scheduled for Dec. 16."
"While dismissing most of the states' other complaints, Vinson ruled that they can contest whether the law's 'individual mandate' requiring virtually all Americans to buy health insurance exceeds Congress's constitutional authority to regulate commerce and make laws 'necessary and proper' for carrying out its powers. Last week, in a suit brought by private parties, a federal judge in Michigan unequivocally upheld Congress's authority on that point... Vinson ruled that the fee imposed on people who fail to comply with the individual mandate amounts to a 'penalty' rather than a 'tax.' This would mean that Congress's ability to impose it cannot derive from its constitutional powers of taxation."
The White House's response to the foreclosure mess is too timid, writes Paul Krugman: "True to form, the Obama administration’s response has been to oppose any action that might upset the banks, like a temporary moratorium on foreclosures while some of the issues are resolved. Instead, it is asking the banks, very nicely, to behave better and clean up their act. I mean, that’s worked so well in the past, right?... The Center for American Progress has proposed giving mortgage counselors and other public entities the power to modify troubled loans directly, with their judgment standing unless appealed by the mortgage servicer. This would do a lot to clarify matters and help extract us from the morass."
Here are four ideas that could help homeowners facing foreclisure, as opposed to just helping banks:
Bank stocks are plummeting due to the foreclosure mess:
The House will hold a vote on supplemental Social Security payments, reports Stephen Ohlemacher: "The Social Security Administration is expected to announce Friday that more than 58 million retirees and disabled Americans will go a second consecutive year without an increase in benefits. Pelosi said she will schedule a vote on a bill to provide the $250 payments when Congress returns for a lame duck session after the Nov. 2 congressional elections. The payments would be similar to those provided by the government's massive economic recovery package last year. But even if Pelosi can get the House to approve a second payment, the proposal faces opposition in the Senate."
States are pushing higher gas taxes to pay for infrastructure, reports Josh Mitchell: "The gas-tax proposal, being pitched by the American Association of State Highway and Transportation Officials, would have drivers at the pump pay an 8.4% tax on a gallon of gas instead of the current 18.4-cent tax. The tax on a gallon of diesel would be 10.6% instead of the current 24.4 cents. AASHTO estimates the changes would potentially raise an additional $43 billion over six years, assuming the price of gasoline rises as the government projects."
Icelandic electronica interlude: Bjork plays "Joga" on Later with Jools Holland.
Still to come: The US trade deficit has grown due to Chinese imports; BP apologizer Rep. Joe Barton may yet helm the Energy Committee; the schools of the much-touted Harlem Children's Zone are coming up short; and a ukelele orchestra covers Talking Heads.

Chinese imports are driving up the US trade deficit, reports Howard Schneider: "By selling renminbi and buying dollars and other currencies, the People's Bank of China lowers the price of its currency. The bank's ability to keep up those purchases is closely tied to the country's large trade surplus with the rest of the world, most notably the United States. The monthly imbalance between the two countries widened in August to a record $28 billion, compared with just less than $26 billion the month before. The gap shows that there's been meager progress in evening out a trade relationship that is both central to the global economy and a potential source of instability."
The foreclosure mess blew up because of a single case in Maine:
Judges are facing enormous pressure to resolve foreclosure cases quickly, reports Brady Dennis: "The recent reports about flawed and fraudulent filings - and a series of announcements by large lenders that they are freezing foreclosures - have given pause to some judges in Florida. While judges agree that speed remains important, some are warning that churning through cases so quickly could mean overlooking fraudulent documents and prematurely seizing homes, perhaps depriving borrowers of due process. How judges in Florida, at the epicenter of the foreclosure crisis, strike a balance could presage how courts elsewhere in the country will grapple with the mortgage meltdown's latest challenge for homeowners, financial firms and the broader economy."
Bank of America is stepping up its loans to small businesses:
Local governments are moving against agreement that help unions, reports Steven Greenhouse: "Here in California, the fight over the agreements has become so heated in part because the volume of nonresidential construction in the state has fallen 33 percent from its peak in 2006, while 400,000 construction jobs have been lost. Government budget crises have helped fuel the campaign against the agreements, with many critics saying they unnecessarily raise the cost of public projects. Many nonunion contractors in the San Diego area are particularly incensed because they helped win voter approval of a $2.1 billion school bond last year, only to see unions persuade the school board to vote 3 to 2 to embrace project labor agreements for all the construction."
The Financial Crisis Inquiry Commission report will reveal the extent to which banks deceived their clients, writes William Cohan:
A new study shows the costs of a VAT, writes Pete Davis: "Today, the National Retail Federation released a study by Ernst & Young and Tax Policy Advisers that analyzes a 10.3% narrowly based 'add-on' value added tax to reduce the deficit by 2% of GDP. It estimated a $2.5 trillion reduction in retail spending over the next decade and an initial loss of 850,000 of which 700,000 would be lost permanently. That's the kind of scary analysis you want if you want to kill a proposal. I would note that any federal tax increase of 2% of GDP would have similar results, although with less impact on the retail sector."
Short film interlude: A film about technology made from all analog parts.

The EPA can't stop catastrophic climate change, writes David Leonhardt, but that's not to say it's powerless: "The institute estimates federal regulations alone could reduce 2020 emissions to somewhere between 5 and 12 percent below the 2005 level, depending how rigorously they were enforced. Add in state regulations, and the reduction could be 6 to 14 percent....But if it’s not enough, it’s also a lot more than nothing — especially when you consider that 2020 emissions are now in pace to be 4  to 5 percent higher than they were in 2005."
Most Americans don't know basic climate data, reports Felicity Berringer:
Rep. Joe Barton of BP apology fame is making a play for the Energy Committee chairmanship, report Jake Sherman and Robin Bravender: "The energy panel, under a Republican majority, could become the launching pad for ideological battles that would define a GOP House digging in on global warming, cap and trade, energy bills, health care repeals and a wide range of business regulations...Barton is still in the doghouse with some Republicans for his now-infamous apology to BP during this summer’s oil spill disaster -- a rhetorical flap that nearly cost him his top seat on the Energy and Commerce Committee. What’s more, Barton seems to be signaling that there won’t be any long-lasting fallout from the incident, although several members called for his resignation."
OPEC has no plans to lower the price of oil:
The EPA is unsure of how to grade plug-in hybrides, report Nick Bunkley and Bill Vlasic: "Providing the customary city and highway miles-per-gallon information would make little sense for the Volt, which can drive 25 to 50 miles on battery power before its gas engine kicks on, and even less so for the Leaf, which is powered by only a rechargeable battery. Cathy Milbourn, a spokeswoman for the E.P.A., declined to specify a date when the new ratings might be released, saying only that they would come 'shortly.' The Volt and Leaf must be rated by the E.P.A. and have those ratings shown on window labels before they are sold. Both Nissan and G.M. are in discussions with the agency about what the fuel economy information on the window stickers of new vehicles will state, company officials said.."
Green investment isn't politically easier than cap and trade, writes David Roberts:
Nuclear companies' behavior shows the erosion of standards in business, writes Steven Pearlstein: "I realize we're a long way from those days when business was done on a handshake and a businessman was only as good as his word, but even by today's diminished standards, this is remarkably shoddy conduct. It's a glaring example of the triumph of Wall Street culture over Main Street culture, of short-termism over long-term value creation, of a corporate ethic that amounts to: 'It's just business. Nothing personal.' It should tell you all you need to know that Wall Street analysts cheered Constellation's decision to blow up its partnership with its largest shareholder to book a one-time, $1.4 billion after-tax gain."
Ukelele interlude: The Ukelele Orchestra of Great Britain covers "Psycho Killer".
Domestic Policy

The Harlem Children's Zone is coming up short, reports Sharon Otterman: "Just 15 percent passed the 2010 state English test, a number that Mr. Canada said was 'unacceptably low' but not out of line with the school’s experience in lifting student performance over time. Several teachers have been fired as a result of the low scores, and others were reassigned, he said...Mr. Whitehurst’s 2010 Brookings analysis went further, noting that test performance at the two charter schools was only middling among charter schools in Manhattan and the Bronx, even though higher-performing schools, like those in the lauded KIPP network, had no comparable network of cradle-to-college services."
A study suggests computerized medical records can help track drug side effects:
With Congress not acting, the FCC could move ahead solo on net neutrality, report Kim Hart and Jennifer Martinez: "FCC Chairman Julius Genachowski will be getting a lot of heat from liberals and consumer advocates to enact some sort of Net neutrality rules in the next two months. Last month, Genachowski asked for additional feedback on whether Net neutrality rules should apply to wireless devices and if Internet providers should be allowed to charge Web companies for special services. That public-comment period ends early next month, freeing up the FCC to make a move. It’s still unclear when -- or if -- the agency is actually going to move forward on reclassification. FCC spokeswoman Jen Howard declined to comment on a specific timetable. Genachowski has said the agency is waiting to develop the right policies before taking any action."
The FCC's "bill shock" rule doesn't go far enough, writes Timothy Noah:
Obama should call the Senate's bluff on recess appointments, write Steven Bradbury and John Elwood: "The Senate, of course, does not meet as a body during a pro forma session. By the terms of the recess order, no business can be conducted, and the Senate is not capable of acting on the president's nominations. That means the Senate remains in "recess" for purposes of the recess appointment power, despite the empty formalities of the individual senators who wield the gavel in pro forma sessions. The president should consider calling the Senate's bluff by exercising his recess appointment power to challenge the use of pro forma sessions. If the Senate persists, then the federal courts may need to resolve the validity of the Senate's gambit."

RTTNews Daily Stocks to Watch.- Chase posts strong quarter. Oct. 15th., 2010

Daily Stocks to Watch Fri Oct 15 09:02 2010

Stocks To Watch

Oct 15, 2010 Chase posts strong quarter – Stocks To Watch Chase Corp. (CCF) posted higher fourth-quarter profit, citing continued recovery in the automotive sector worldwide and strong demand for protective products used in domestic infrastructure applicatio Full Article
Oct 15, 2010 Introducing RTT Growth & Value StocksThe Growth & Value Stocks service is designed with a disciplined approach of extensive fundamental analysis to cater swing traders and investors. The service identifies growth stocks that are generally overlooked and value stocks that are usually undervalued by the market. The growth and value stocks we select have significantly outperformed the broader market indices. Full Article

RTTNews Morning Market Briefing.- India's Food Inflation Rate Rises Marginally. Oct.15th., 2010.

Morning Market Briefing Fri Oct 15 09:01 2010

Economic News

Oct 15, 2010 India's Food Inflation Rate Rises MarginallyThe annual inflation rate of India's prices of food, as measured by the wholesale price index, or WPI, for the week ended October 2 marginally rose to 16.37 per cent from the 16.24 per cent of the preceding week, due to higher prices of milk, vegetables, fruits and wheat. Full Article
Oct 15, 2010 Eurozone Annual Inflation Rises To 22-Month High Eurozone annual inflation increased in September as initially estimated to a 22-month high, largely due to unfavorable energy base effects. Full Article
Oct 15, 2010 Eurozone Trade Deficit Widens More Than Expected Eurozone trade deficit widened more than expected in August as import growth outpaced that of exports, data released by Eurostat showed Friday. Full Article
Oct 15, 2010 Bernanke: There Appears To Be A Case For Further SupportThe Federal Reserve stands ready to support the sluggish economy with further monetary easing measures, the nation's top central banker said Friday morning at the Boston Fed's annual conference. Full Article
Oct 15, 2010 CPI Rises 0.1% In Sept. The U.S. Labor Department revealed that consumer prices up 0.1 percent in September. Economists had expected the measure to rise by 0.2 percent. Core prices, which exclude the volatile food and energy sectors, were unchanged in September, compared to the expectation of a 0.1 percent rise. Full Article
Oct 15, 2010 Retail Sales Up 0.6% In Sept. The U.S. Commerce Department announced that retail sales rose 0.6 percent in September. This followed a revised 0.7 percent advance in the previous month. Economists had expected the measure to rise by 0.4 percent. Full Article
Oct 15, 2010 NY Empire State Index Rises To 15.7 The New York Federal Reserve's Empire State Manufacturing Survey showed a reading of 15.7 for October. Any reading above zero indicates expansion for New York manufacturers. Economists had expected a reading of 5.75, compared to the reading of 4.1 that was recorded last month. Full Article

Earnings News

Oct 15, 2010 Gannett Q3 profit rises 38% on lower costs, chargesFriday, Gannett Co., Inc. (GCI) reported a 37.5% jump in profit for the third quarter, although operating revenue were flat with last year. However, the company recorded a 26% growth in advertising revenues and a 10% improvement in digital revenues. The quarterly results were helped by lower costs and non-recurring charges. Adjusted profit climbed 21% year-over-year. Full Article
Oct 15, 2010 Charles Schwab Q3 net profit down 38%, yet beats StreetFriday, Charles Schwab Corp. (SCHW) reported a 38% fall in profit for the third quarter, despite a 5% growth in revenue, hurt by charges related to losses from money market mutual-fund investments. However, earnings per share came a penny above the Street view, while revenue came in line with the estimate of analysts. The company also noted that, excluding charges, profit rose 9% from last year. Full Article
Oct 15, 2010 First Horizon rebounds to profit in Q3 on lower provisioningFriday, First Horizon National Corp. (FHN) returned to profit in the third quarter, helped chiefly by much lower provision for both credit losses and tax payments. Total revenue edged up 1% from last year. Meanwhile, analysts were expecting the firm to report a narrower loss for the period. Full Article
Oct 15, 2010 GE Q3 profit declines 18%Friday, General Electric Co. (GE) said its third-quarter earnings dropped 18%, hurt by costs associated with the sale of its Japanese consumer-finance unit as well as a 5% dip in sales. Adjusted earnings came in above the Street view, but revenue fell short of estimates. Full Article
Oct 15, 2010 J.B. Hunt Transport Q3 profit climbs 31%Thursday, J.B. Hunt Transport Services, Inc., (JBHT) posted a 30.6% jump in its third-quarter profit, as intermodal volumes increased, reflecting growing customer demand. However, earnings came in below the Street, while revenues, which grew 18% from last year, surpassed estimates. The company recorded an operating profit margin of 9.3% for the latest quarter, up 80 basis points from 8.5% in the past year. Full Article
Oct 15, 2010 Google Q3 profit up 32%, beats StreetThursday, Google Inc. (GOOG) reported a 32% rise in profit for the third quarter, mainly as as advertising revenues grew 22% from last year. Both adjusted earnings and revenue came in far ahead of the Street view. Operating profit margin was 35%, flat with the prior-year quarter. Full Article
Oct 15, 2010 AMD Q3 loss narrowsThursday, Advanced Micro Devices, Inc. (AMD) reported a narrower third-quarter net loss, reflecting better gross margins as well as a 16% growth in revenue that scraped past Street view. On a per share basis, the company recorded adjusted earnings, compared to breakeven last year. Gross margin expanded 400 basis points to 46% from 42%. Looking ahead, AMD expects fourth-quarter revenue to be more or less flat with the third quarter. Full Article
Oct 15, 2010 Infosys Q2 profit up 13%; guides Q3 earnings above Street, lifts FY11Friday, Infosys Technologies Ltd. (INFY) reported a 13.2% rise in profit for the second quarter, reflecting almost a 30% growth in revenues. Earnings per American Depositary Share came in above the Street view. Looking ahead, the Indian software giant guided earnings for the third quarter to surpass the current estimate of analysts, and also raised its full year forecast above expectations. Full Article
Oct 15, 2010 Sony Ericsson turns to profit in Q3 on lower costsFriday, Sony Ericsson Mobile Communications AB, a joint venture between Sony Corp. (SNE) and LM Ericsson Telephone Co. (ERIC), reported a profit in its third quarter, compared to loss last year, helped by cost curtailments. Sales dipped by a percent, as a 34% increase in prices were offset by 26% drop in unit shipments. Gross margin almost doubled year-over-year to 29.5% from 15.5%. Full Article
Oct 15, 2010 Mattel Q3 profit rises 23%Friday, Mattel Inc. (MAT) reported a 23% rise in its third-quarter profit, helped by higher sales of its dolls, including Barbie. Earnings per share, which included a tax benefit of 5 cents, came a penny above the Street view, but sales fell short of estimates despite growing 2% year-over-year. The company also noted that operating margin climbed 80 basis points to 19.6% from 18.8% in the past year. Full Article

Todays WS Events

Oct 15, 2010 Mattel Q3 10 Earnings Conference Call At 8:30 AM ET Mattel Inc. (MAT) will host a conference call at 8:30 AM ET, October 15, 2010, to discuss its Q3 10 earnings result. To access the webcast, log on to A replay of the call can be heard by dialing +1 (706) 645-9291 with passcode 96255098.
Oct 15, 2010 General Electric Q3 10 Earnings Conference Call At 8:30 AM ET General Electric Co. (GE) will host an conference call at 8:30 AM ET, October 15, 2010, to discuss its Q3 10 earnings result. To access the live webcast, log on to
Oct 15, 2010 First Horizon Q3 10 Earnings Conference Call At 9:00 AM ET First Horizon National Corp. (FHN) will host a conference call at 9:00 AM ET, to discuss Q3 10 earnings results, on October 15, 2010. To access the live webcast, log on at To hear the live call, dial 877-303-6618 or 224-357-2205. A replay of the call can be heard by dialing 800-642-1687 or 706-645-9291 with passcode 14410410.
Oct 15, 2010 Gannett Q3 10 Earnings Conference Call At 10:00 AM ET Gannett Co., Inc. (GCI) will host a conference call at 10:00 AM ET, October 15, 2010, to discuss its Q3 10 earnings results. To access the live webcast, log on at To hear the live call, dial 1-888-569-5033 (US) or 719-457-2637 (International) with passcode 1510704. A replay of the call can be heard by dialing 1-888-203-1112 (US) or 719-457-0820 (International) with passcode 1510704.
Oct 15, 2010 Genuine Parts Q3 10 Earnings Conference Call At 11:00 AM ET Genuine Parts Company (GPC) will host a conference call at 11:00 AM ET, October 15, 2010, to discuss its Q3 10 earnings results. To access the webcast, log on at To hear the live call, dial 877-316-2549 with passcode 14449908. A replay of the call can be heard by dialing 800-642-1687 with ID 14449908.

F & F I N : Reuters - Before The Bell.- Stocks Futures flat ahead of Bernanke, food of Data. Oct. 15th., 2010


Stock futures flat ahead of Bernanke, flood of data
GE revenue falls short of Street view
Bernanke speech seen tipping to Fed's next move
China's Sinochem abandons Potash bid plan: sources
Mattel profit beats and optimistic about holidays
U.S. to judge China's yuan policy as elections near
Google trumps Wall Street targets
GM on track for mid-November IPO: sources
Special report: Globally, the flash crash is no flash in the pan
SEC and Mozilo in talks to settle civil fraud case: report