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Dec 3, 2010

From The Desk Of Nick Nicolaas:Zeal Intelligence Weekly - "Global Gold-Mining Trends" by Adam Hamilton



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

 

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Weekly Roundup:Top Ten MarketWatch Stories Nov 29 - DEC 3

MarketWatch

Weekly Roundup
DECEMBER 03, 2010

Top 10 MarketWatch stories Nov 29 - Dec 3

By Greg Morcroft, MarketWatch



NEW YORK (MarketWatch) — The Dow Jones Industrial Average climbed 2.6% this week, bolstered by a dose of better-than-expected economic reports, discounting Friday's disappointing jobs numbers. The Nasdaq Composite Index and the S&P 500 Index also rose more than 2% for the five-day period.

Market players chose to put their bets on the week's earlier economic data hinting at a steadily, if slowly improving economy, which showed strong housing data and decent growth in the nation's several large economic districts. A significant upside revision to an estimate for U.S. GDP growth by Goldman Sachs helped too.

For a look at what's coming, please check out our Week Ahead videos for Asia, Europe and the United States.

Asia's Week Ahead: Central-bank policy decisions

 Europe's Week Ahead: Ireland in focus

U.S Week Ahead: Consumer confidence on tap

Greg Morcroft, assistant managing editor
Unemployment hits 9.8%

The U.S. economy added jobs at a much slower pace in November than in October, suggesting that the economy will continue to struggle in coming months.Nonfarm payrolls rose by 39,000 in November, far lower than the 155,000 gain expected by economists surveyed by MarketWatch and the upwardly revised figure of 172,000 jobs gained in October. The unemployment rate unexpectedly rose to 9.8% in November from 9.6% in October according to a separate survey of 60,000 households. Economists had been expecting the unemployment rate to remain steady. This is the highest unemployment rate since April. Read story on MarketWatch about rising U.S. inflation.
China says it will establish "prudent" monetary policy, signalling tight money

China will adopt a "prudent" stance in its management of liquidity in the economy next year, signaling tighter conditions as it seeks to restrain rising inflation, including soaring food prices linked to sporadic outbursts of social unrest. Emphasis will shift to "proactive fiscal policy and prudent monetary policy." Analysts said the tone of the statement signalled policy makers were preparing to take a harder line on credit conditions. Read more from MarketWatch on China's plans for monetary restraint.
Europe bails out Ireland

European financial leaders on Sunday approved an aid package of 85 billion euro, or $112.53 billion, for debt-stricken Ireland. The financial package includes 10 billion euros for immediate recapitalization measures, 25 billion euros on a contingency basis for banking-system supports and 50 billion euros covering budget-financing needs, according to a statement from the euro-zone finance ministers."This program is absolutely essential for the country," said Irish Prime Minister Brian Cowen at a press conference in Dublin. "We have carefully considered all available policy options. [It's] the best available deal for Ireland." Read MarketWatch coverage of European bailout of Ireland.
Debt commission rejects sweeping reform plan

A sweeping plan to cut federal spending and remake the U.S. tax code failed to win enough votes from an 18-member presidential panel to send the proposal to Congress. Eleven members supported the plan, a number that fell short of the 14-vote supermajority called for by President Barack Obama and lawmakers for the plan to be sent to Congress for a possible legislative vote. Even without the backing of a supermajority of panelists, the plan did receive the support of 60% of participants. Because of the strong support, some argued that the package or many of the proposals within it are likely to come to a vote on Capitol Hill. Read MarketWatch story on deficit panel to and fro.
Cody Word Blog : How Apple gets to $1,000 from here

The last time I upset people with this much of a bullish Apple Inc. (AAPL) prediction, I was telling people in 2005 that someday Apple would have a bigger market cap than Microsoft Corp. (MSFT) Lately, I've been saying that my analysis points to Apple getting to $1,000 by 2015 or so. And people write the most unbelievably mean things to me for predicting such wealth creation — one commenter literally asked me, "Can't you just go die in a fire?" Read Cody Willard's Apple at $1,000 call on MarketWatch.
Fed reveals credit-crunch aid for banks and funds

The U.S. Federal Reserve on Wednesday disclosed more than 21,000 transactions, mostly short-term loans, worth $3.3 trillion that it provided to banks and money-market funds during the credit crunch. And it wasn't just U.S. firms. Foreign institutions participated aggressively, eligible because they had branches stateside. At least one lender directly owned by a foreign government, the Korea Development Bank, also participated. The Fed said it's incurred no credit losses on programs that have been since wound down and that it doesn't expect to incur any losses on remaining programs. Read coverage of the Fed's crisis lending at MarketWatch.
Pepsi plunges into Russia in winter, buys majority of Wimm-Bill-Dann

Food and beverage giant PepsiCo Inc. (PEP) will buy a 66% stake in Russia's Wimm-Bill-Dann Foods, and later plans to make an offer for the remaining shares, bringing the company a step closer to building a $30 billion nutrition business by 2020. The deal will raise PepsiCo's annual global revenues from nutritious and functional foods to nearly $13 billion, from around $10 billion today. Read MarketWatch story on Pepsi's Russia play.
The retirement tax hit and how to avoid it

Whether you're already living in retirement or still planning for it, it's impossible to ignore the effect your annual tax bill may have on retirement income. And given the current tax-rate uncertainty, the best year-end strategies for 2010 may surprise you. At a recent MarketWatch roundtable discussion, two of the nations' top retirement-planning experts offered tactics to consider to reduce your tax bill this year and next, and the benefits, and potential dangers, of Roth IRA conversions. Read about retirement tax planning on MarketWatch.
China gold imports headed for big rise

China's gold imports are on track for a sharp increase this year, with data for the first 10 months showing bullion shipments up more than four times amid rising interest among investors seeking out a hedge against inflation. Bullion imported into China in the January-to-October period totaled 209.7 metric tons, compared with 45 metric tons in all of 2009, according to Shanghai Gold Exchange Chairman Shen Xiangrong. If current trends hold, China's gold imports could rise nearly sixfold by the end of the year, according to calculations based on monthly averages. Read MarketWatch story about China's surging appetite for gold.
Six great gifts for gun lovers

And a cartridge in a shotgun. … For many a generation, a beribboned firearm under the Christmas tree has been among the most cherished of American Christmas gifts, be it a teenager's first .22, a pistol for the missus or a new double-barrel for grandpa. The tradition continues, at least among some demographic groups, with hard times, political uncertainty and fear of new regulations fueling an unprecedented boom in gun and ammunition sales over the last two years. And this is an especially merry time of year for gun makers and retailers as they typically put up their best numbers in the fourth quarter. Read MarketWatch story about rapid-fire gun sales.

No deficit reduction, and too few jobs: MarketWatch Personal Finance Daily

MarketWatch

Personal Finance Daily
DECEMBER 03, 2010

Friday's Personal Finance stories

By MarketWatch




Don't miss these top stories:
Today, the deficit-reduction commission couldn't quite reach the consensus needed to get its proposal sent to Congress, though 11 out of 18 members agreed on the plan (the rule was, however, they needed to get 14 people on board).

Still, lawmakers may come up with some deficit-reduction plans based on the panel's proposals. Or, they might punt the important decisions down the road. Which scenario are you betting on? If the latter, then don't miss Robert Powell's Your Portfolio today, on how inaction in the deficit-reduction department could be bad news for investors.

Also today, the jobs report came in with much slower job growth than expected, though some economists and analysts said they predict this report will be revised higher in coming months, to show greater job creation than the measly 39,000 nonfarm jobs reported today. One economist note I saw pointed to the Labor Department's relatively low household-survey response rate during the crucial Thanksgiving week as one possible problem with this jobs report. He (aka Bernard Baumohl, chief global economist at the Economic Outlook Group) also noted a few indicators in today's report of greater job growth ahead, including a sharp increase in the hiring of child-care workers. (You can read Baumohl's report here. )

We'll see.. Stay tuned next week for the Manpower report on Tuesday — their survey asks employers about their hiring plans for the upcoming first quarter.

Going shopping this weekend? Hopefully, you're not using the prepaid credit card described by Chuck Jaffe in his Stupid Investment of the Week column today. This one's worse than the Kardashian Kard, which was pulled off the market recently because of its over-the-top fees.

Happy weekend, folks.

Andrea Coombes , Personal Finance editor

INVESTING

Deficit plan's demise is bad for investors

It's official: The chairmen of the White House's deficit-reduction commission this week failed to garner the votes needed to send their 59-page proposal to Congress. The plan called for sweeping changes in how the country spends money and collects taxes.
Read more: Deficit plan's demise is bad for investors.


Sam Eisenstadt forecasts a bullish 2011

Sam Eisenstadt, the former research director at Value Line, is projecting that the stock market will rise 12% over the next six months. His track record suggests we take that projection seriously.
Read more: Sam Eisenstadt forecasts a bullish 2011.


Operational activists' work pays off

Operational activist hedge funds, which take long-term stakes in companies and push for strategy changes, are reaping rewards from hard work during the recession.
Read more: Operational activists' work pays off.


TAXES

A last-minute tax checklist

Another week gone, and still no decision by Congress on 2011 income, capital-gains, dividend and estate taxes, plus this year's alternative minimum tax, or AMT, and several provisions awaiting extension.
Read more: A last-minute tax checklist.


RETIREMENT

7 deadly sins of 401(k) investing

As we approach the end of the year, many 401(k) investors are getting ready to do some housekeeping with their mutual fund portfolio.
Read more: 7 deadly sins of 401(k) investing.


REAL ESTATE

With this hot home deal you're bound to get burned

A reader says he wants to buy a fire-damaged house that is under court-ordered receivership and has liens against it. Lew Sichelman advises a different plan.
Read more: With this hot home deal you're bound to get burned.


SPENDING & SAVING

Commentary: Kardashian Kard's got nothing on this card

It's bad enough that anyone would want to "keep up with the Kardashians" in the first place. But now that the reality celebrities have entered — and exited — the pre-paid credit-card business, it's clear there are plenty of sharpies who aim to surpass them.
Read more: Kardashian Kard's got nothing on this card.


Small-business owners cry foul over safe-toy law

Small-business owners called on Congress Thursday to ease child-safety policies they say are too burdensome.
Read more: Small-business owners cry foul over safe-toy law.


HEALTH CARE

We can't afford to ignore food safety

It's shocking that a law such as the one proposed by the food safety bill has not already been in effect.
Read more: We can't afford to ignore food safety.


THE JOB MARKET

Reaction to payrolls, unemployment data

The U.S. Labor Department on Friday reported a slim gain of 39,000 nonfarm jobs in November, pushing the unemployment rate to 9.8%.
Read more: Reaction to payrolls, unemployment data.


Unemployment hits 9.8% as payrolls add just 39,000

The U.S. economy added jobs at a much slower pace in November than in October, suggesting that the economy will continue to struggle in coming months.
Read more: Unemployment hits 9.8% as payrolls add just 39,000.


The wrong adjectives can kill your job application

When it comes to recommendation letters and phone calls, adjectives like "ambitious" and "independent" trump "helpful" and "nurturing" and will help you get a job.
Read more: The wrong adjectives can kill your job application.


Non-profit offers tech talent to local governments

With cities facing painful budget cuts, already-strapped government technology teams risk falling even further behind their private-sector peers.
Read more: Nonprofit offers tech talent to local governments.


ECONOMY & POLITICS

Payrolls, pending home sales, ISM, more

A week of largely positive data was somewhat undermined by the poor showing of payrolls, at least the U.S. government's version. Pending home sales, construction spending and manufacturing reports were more optimistic.
Read more: In charts: Payrolls, pending home sales, ISM, more.


Deficit commission rejects sweeping reform plan

A sweeping plan to cut federal spending and remake the U.S. tax code failed to win enough votes Friday from an 18-member presidential panel to send the proposal to Congress.
Read more: Deficit commission rejects sweeping reform plan.

Buying a Home? 20 Hidden Costs to Take Into Account: CNBC - Evening Brief


LATEST STORIES


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Predictions 2011: The Big Picture
CNBC 360 A CNBC Special Report
CNBC stars weigh in on the big questions for global finance in the new year.
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    The number of non-farm jobs added in November is a hugely disappointing 39,000, unemployment is at 9.8 percent and average hourly earnings remain unchanged, with CNBC's Hampton Pearson, Steve Liesman & Rick Santelli; Mark Zandi, Moody's Analytics; and Diane Swonk, Mesirow Financial.
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Stocks End Higher Despite Disappointing November Jobs Number - U.S. Commentary : RTTNews: Evening Market Wrap

Evening Market Wrap Fri Dec 3 2010

Commentary

Dec 3, 2010 Stocks End Higher Despite Disappointing November Jobs Number - U.S. Commentary Stocks jumped late in the day to end with moderate gains on Friday, getting over a disappointing November jobs report released before the start of trading. The much weaker than expected jobs growth was written off as a stumble on the way to broader economic recovery, helping to stave off heavy selling in today's session. Full Article

Economic News

Dec 3, 2010 U.S. November Job Growth Disappoints, Unemployment Rate Ticks Up Employment in the U.S. increased by much less than anticipated in the month of November, according to a report released by the Labor Department on Friday, with the report also showing an unexpected increase in the unemployment rate. The report showed that non-farm payroll employment increased by 39,000 jobs in November following an upwardly revised increase of 172,000 jobs in October. Economists had expected the addition of about 130,000 jobs. Full Article
Dec 3, 2010 ISM Service Index Indicates Faster Growth In November Activity in the U.S. service sector expanded at an accelerated rate in the month of November, the Institute for Supply Management revealed in a report on Friday, with activity in the sector expanding for the eleventh consecutive month. The ISM said its index of activity in the service sector rose to 55.0 in November from 54.3 in October, with a reading above 50 indicating growth in the sector. Full Article
Dec 3, 2010 U.S. Factory Orders Fall In October After Three Straight Months Of Growth After reporting three consecutive monthly increases in new orders for manufactured goods, the Commerce Department released a report on Friday showing that factory orders decreased in October, although the drop was not as steep as expected. The report showed that factory orders fell by 0.9 percent in October following an upwardly revised 3.0 percent increase in September. Full Article

Political News

Dec 3, 2010 Obama Makes Surprise Visit To AfghanistanU.S. President Barack Obama made an unannounced trip to Afghanistan on Friday to thank U.S. troops and to hold talks with his Afghan counterpart Hamid Karzai. Addressing soldiers at the Bagram Air Base in Kabul, Obama said the NATO-led International Security Assistance Force (ISAF) battling Taliban militants was at its strongest yet and that the coalition was winning the war against insurgents. Full Article
Dec 3, 2010 Senate Expected To Hold Weekend Votes On Tax CutsWith an apparent agreement on bringing tax cut proposals from both sides of the aisle to the Senate floor falling apart last night, Democrats may move ahead with votes on Saturday on two proposals to extend the Bush tax cuts for the middle class. Senate Majority Leader Harry Reid, D-Nev., had reportedly reached an agreement with Senate Minority Leader Mitch McConnell, R-Ken., to bring two tax proposals from each party to the floor , but the deal was blocked by an anonymous Republican. Full Article
Dec 3, 2010 Speaker-Designate Boehner Rips Democrats After Jobs ReportHouse Speaker-designate John Boehner, R-Ohio, criticized Democrats on Friday after data showed that the unemployment rate unexpectedly rose to a seven-month high last month. Boehner asked Congress to cut spending and stop all the looming tax hikes after the Labor Department reported that unemployment rose to 9.8 percent in November from 9.6 percent in October. Full Article
Dec 3, 2010 Sen. Brown Announces Support For Repeal Of "Don't Ask, Don't Tell"Moving the repeal of the military's "Don't Ask, Don't Tell" policy a step closer to reality, Republican Sen. Scott Brown, R-Mass., said Friday that he supports the repeal of the policy, which bans gays and lesbians from serving openly in the U.S. armed forces. Brown's announcement comes following the release of a Pentagon report that said repealing the policy is not likely to negatively impact military effectiveness. Full Article

NYT: Afternoon Business News.- Why Savings Account Rates Are So Pathetic?


Business:

U.S. and South Korea Said to Reach Trade Deal

By SEWELL CHAN
The tentative deal on a free-trade agreement that would help solidify relations with a leading ally in East Asi'a.
Your Money

Why Savings Account Rates Are So Pathetic

By RON LIEBER
Financial institutions are paying next to nothing on savings accounts and not much more on certificates of deposit. What's a saver to do?
Off the Charts

Value Sinking Fastest at Homes Priced Low to Start

By FLOYD NORRIS
What went up the most during the bubble - less expensive homes - are coming down the fastest in many markets.

China to Tighten Monetary Policy

By EDWARD WONG
The announcement is a sign that leaders are increasingly concerned about inflation and an overheated economy.
Media Decoder Blog

Ben Sherwood to Lead ABC News

By BILL CARTER and BRIAN STELTER
Mr. Sherwood will succeed David Westin, the long-time president of ABC News who plans to step down at the end of the year.

Stocks end week higher, bolstered by late-day rise. Marketwatch - Market Pulse


market pulse
Dec. 3, 2010, 

Stocks end week higher, bolstered by late-day rise


The Washington Post Afternoon Edition : Most Read articles

Washington Post


1) Throw the WikiBook at them

Let the world see a man who fears the long arm of American justice.

2) Tax cut fight highlights Democrats' missing convictions

The White House's silence on the fight over tax cuts is rather surprising.

3) Charlie Rangel's censure, House's disgrace

Charlie Rangel stood, stony-faced, in the well of the House. His feet planted wide, his hands crossed over his fly, the 80-year-old lawmaker awaited the rebuke of his peers.

4) Why the fiscal commission's plan is the way forward

Why I support the bipartisan fiscal commission's plan, warts and all.

5) Another option for undermining North Korea

At some point North Korean provocations become unsustainable for America.

6) Kalamazoo's stimulus package

If Americans want education reform, this Michigan town is a model.

7) A No Labels solution to Washington gridlock?

Our political system doesn't work if politicians treat the process as a war.

8) When 'Buy American' harms America and the world's hungry

There is no reason for high-seas piracy to be legislated from Washington.

9) Washington's Burma policy isolates ... Washington

The only nation isolated in Southeast Asia today is America.

10) Editorial: Investigating Mr. Ensign

THE JUSTICE Department has decided not to pursue criminal charges against Sen. John Ensign (R-Nev.) for his efforts to find lobbying work for the husband of a woman with whom he was having an affair. Likewise, the Federal Election Commission (FEC) dismissed a related complaint concerning $96,000?...

South Korea Reached Tentative Trade Deal | Financial & Forex Info News | WSJ -Asia Alert



Asia Alert
from The Wall Street Journal


South Korea agreed to give the U.S. five years to phase out a 2.5% tariff it levies on Korean-built cars, rather than cutting the tariff immediately, clearing a key obstacle to a deal on the long-stalled U.S.-South Korea trade pact, say people familiar with the negotiations.

Details of the revised pact, which must still be ratified by both nations’ legislatures, are expected to be released later Friday, barring a last-minute snag. The proposed trade pact, if ratified, would be the largest bilateral trade deal the U.S. has completed since the 1994 North American Free Trade Agreement.

http://online.wsj.com/article/SB10001424052748703350104575652882154932888.html?mod=djemalertAsianew

Weak Jobs Report Damps Stocks | Financial & Forex Info News | WSJ-Markets



FROM : THE WSJ

Weak Jobs Report Damps Stocks

Stocks wobbled on Friday after the unemployment rate rose to its highest level since April, but investors found comfort in other, more encouraging economic data.
The Dow Jones Industrial Average fell 21 points, or 0.2%, to 11339 in recent trading. The Nasdaq Composite was nearly flat at 2579. The Standard & Poor's 500-stock index lost 0.3% to 1218. To read full article click here

Manufacturers' Shipments, Inventories and Orders. New Orders Manufactured goods fell 0.9 percent in October 2010 shipements rosoe 0.%3..F & F I N .

 
 
Economics and Statistics Administration Logo New orders for manufactured goods fell 0.9 percent in October 2010, to $420.1 billion.  Shipments rose 0.3 percent, to $421.0 billion, unfilled orders increased 0.6 percent, to $821.6 billion, and inventories rose 0.9 percent, to $538.2 billion

Cascade's uplifting quarter – Stocks To Watch .RTTNews

Daily Stocks to Watch Fri Dec 3  2010

Stocks To Watch

Dec 3, 2010 Cascade's uplifting quarter – Stocks To Watch Cascade Corp. (CASC), which makes attachments for handling loads on fork lifts, posted better-than-expected results for the third quarter, citing improving conditions in the economy and the global lif Full Article
Dec 3, 2010 RTT Growth & Value Stocks - Our Picks Have Returned an Avg. Gain Of 44%The 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 with avg. gains of 44%. Full Article

Stocks Headed For Lower Open After Weak Jobs Number - U.S. Commentary .RTTNews Morning Business News

Morning Market Briefing Fri Dec 3  2010

Commentary

Dec 3, 2010 Stocks Headed For Lower Open After Weak Jobs Number - U.S. Commentary Stock futures are pointing to moderate losses at the start of trading on Friday, as the markets are reacting to a gain in November payrolls that was far less than expected. The major index futures are all in negative territory, with the Dow futures down by 46 points. Full Article

Economic News

Dec 3, 2010 Eurozone Recovery Gains Momentum In November Despite the sovereign debt crisis, Eurozone recovery gained momentum in November, led by Germany and France, survey data from Markit Economics showed Friday. Full Article
Dec 3, 2010 U.K. Service Sector Growth Eases In NovemberBritish service sector expanded at a slower pace in November, reflecting market uncertainties, survey data from Markit Economics showed Friday. Full Article
Dec 3, 2010 Eurozone Retail Sales Growth Tops Expectations Eurozone retail sales for October recovered more strongly than expected on robust food product sales. Full Article
Dec 3, 2010 Indonesia Keeps Interest Rate At 6.5% Indonesia's central bank on Friday decided to leave its benchmark interest rate unchanged at a record low 6.5%, for the 16th successive month in spite of rising inflation. Full Article
Dec 3, 2010 Trichet Says Euro Not In CrisisEuro is not in crisis and it's a credible currency, the European Central Bank President Jean-Claude Trichet said Friday. Full Article
Dec 3, 2010 U.S. Employment Increases By Much Less Than Expected In November Employment in the U.S. increased by much less than anticipated in the month of November, according to a report released by the Labor Department on Friday, with the report also showing an unexpected increase in the unemployment rate. Full Article

Earnings News

Dec 3, 2010 Big Lots Q3 Profit Down, misses Street ViewBig Lots Inc. (BIG), the broadline closeout retailer, Friday announced a decline in third-quarter profit, due to higher expenses and the absence of prior year's real-estate sale gains. EPS missed Street view. Quarterly revenue increased and was in line with estimates. The company also lowered its outlook for the fourth quarter and full fiscal year Full Article
Dec 3, 2010 Royal Bank of Canada Q4 Earnings Drop 9% on Special ChargeRoyal Bank of Canada (RY), Friday announced a fourth-quarter profit that fell 9% year-over-year owing to a loss from the sale of Liberty Life Insurance. Quarterly revenues also declined. Full Article
Dec 3, 2010 Scotiabank Q4 profit UpThe Bank of Nova Scotia (BNS, BNS.TO), Friday announced a 21% increase in fourth-quarter net income, driven by positive contributions from recent acquisitions, higher net interest income and other income, and lower provision for credit losses, partly offset by higher expenses. Net interest income also went up with most segments recording increased income. Full Article
Dec 3, 2010 Walgreens Nov. Comps. riseDrugstores operator Walgreen Co. (WAG) on Friday posted a 3.2% rise in its November comparable-store sales, with 1.5 percentage points positive impact from calendar day shifts. Total sales grew by 8.6% for the same month. For November, pharmacy sales improved 8.8%, and comparable pharmacy sales were up 4.2%. Full Article
Dec 3, 2010 Phillips- Van Heusen Q3 results Beat Street View; ups FY10 GuidanceApparel maker Phillips-Van Heusen (PVH), Thursday said its third quarter profit declined, dented largely by several one-time items. However, non-GAAP earnings rose and came above the consensus. With quarterly revenues skyrocketing, and also exceeding expectations, the company boosted its guidance for the full year 2010. Full Article
Dec 3, 2010 Novell swings to Q4 Profit on tax benefitNovell Inc. (NOVL), Thursday swung a fourth-quarter profit, thanks to a tax provision benefit. Quarterly revenues, decreased, but narrowly beat estimates. Full Article
Dec 3, 2010 VeriFone posts Q4 profit, beats consensusVeriFone Systems, Inc. (PAY), an electronic payment services provider, said it expects first-quarter and fiscal 2011 results above the street view, after posting a profit in the fourth quarter. On a non-GAAP basis, earnings were higher than last year and topped the consensus. Quarterly revenues also rose 26.7% and beat analysts' estimates. Full Article
Dec 3, 2010 Avago Tech. posts Profit in Q4Avago Technologies Ltd. (AVGO), semiconductor devices developer, Thursday announced a fourth-quarter profit as revenues jumped, and expenses dipped. Non-GAAP earnings surged from last year and beat analysts' estimates, but revenues narrowly fell short. Full Article

Corporate News

Dec 3, 2010 Madoff Trustee Sues JPMorgan For $6.4 BlnThe court-appointed trustee overseeing the liquidation of Bernard Madoff's estate on Thursday sued JPMorgan Chase & Co. (JPM ) for $6.4 billion, alleging that the bank played a central role in enabling Madoff's fraud. Full Article
Dec 3, 2010 Walter Energy ,Western Coal ink C$3.3 bln merger agreementCoking Coal producer Walter Energy (WLT) on Friday announced signing an arrangement agreement to acquire Canadian metallurgical coal producer Western Coal Corp (WTN.TO) for a total value of C$3.3 billion or C$11.50 per share in cash. The deal price represents a premium of 56 % to Western Coal's November 17 closing share price of C$7.38. Combined production is expected to exceed 20 million tonnes by 2012. Full Article

Broker Ratings Changes

Dec 3, 2010 FBR Capital Markets Lifts National Semiconductor (NSM) To Outperform From Market Perform With $20 Up From $17.50 Price Target

Todays WS Events

Dec 3, 2010 Illinois Tool Works Annual Meeting At 8:20 AM ET Illinois Tool Works Inc. (ITW) will host its Annual Meeting in New York City. The event is scheduled to begin at 8:20 AM ET on December 3, 2010. To access the webcast, log on at www.itw.com
Dec 3, 2010 CMS Energy To Present At J.P. Morgan SMid Cap Conference; Webcast At 8:45 AM ET CMS Energy Corp. (CMS) CFO, Tom Webb will provide a company overview at the J.P. Morgan SMid Cap Conference. The event is scheduled to begin at 8:45 AM ET on December 3, 2010. To access the webcast, log on to www.cmsenergy.com
Dec 3, 2010 Costco Wholesale Sales Conference Call At 8:00 PM ET Costco Wholesale Corporation (COST) will host a sales conference call at 8:00 PM on December 3, 2010, to discuss its sales results. A replay of the call by dialing 1-800-642-1687 using conference ID 44184979.
Dec 3, 2010 Big Lots Q3 10 Earnings Conference Call At 8:00 AM ET Big Lots, Inc. (BIG) will host a conference call at 8:00 AM ET, December 3, 2010, to discuss its Q3 10 earnings results. To access the live webcast, log on at www.biglots.com A replay of the call can be heard by dialing 1.888.203.1112 (US) or 1.719.457.0820 (International) with passcode # 5069847.

Payrolls in November edge up, jobless rate jumps. | Financial & Forex Info News | Reuters Business Today




FROM: REUTERS - BUSINESS TODAY

Wall St to test 2-year high on jobs data
Payrolls in November edge up, jobless rate jumps
Walter Energy seals $3.3 billion Western Coal buy
Special Report: What did you do in the ETF war, daddy?
Euro zone pulls ahead, China shifts stance
Big Lots profit misses Street, cuts Q4 outlook
Authorities scan healthcare deals: report
Senate to take symbolic votes on taxes Saturday
China declares shift to "prudent" monetary policy
SAP open to expanding cooperation with HP: report

Futures Flat Ahead of Payrolls Data | Financial & Forex Info News | Reuters - Before The Bell






Futures flat ahead of payrolls data
Payrolls seen up in November and jobless rate steady
Walter Energy seals $3.3 billion Western Coal buy
Euro zone pulls ahead, China shifts stance
Big Lots profit misses Street, cuts Q4 outlook
Authorities scan healthcare deals: report
Senate to take symbolic votes on taxes Saturday
China declares shift to "prudent" monetary policy
SAP open to expanding cooperation with HP: report
Samsung promotes heir apparent, shares hit record

Gold market clearly showing signs of an asset bubble - Natixis:: GOLD Mineweb

Mineweb logo


Andean Resources shareholders approve Goldcorp takeover scheme

 

U.S. Envoy Tells of India Battle 'Doctrine'. India News - India Update : WSJ



December 3, 2010 

U.S. Envoy Tells of India Battle 'Doctrine'
India's army has a strategy to rapidly respond to a terrorist attack emanating from Pakistan without triggering a nuclear war, the U.S. ambassador wrote in a leaked cable.

Career Journal: What ICICI Looks for in Employees
ICICI Bank hires thousands of people every year. Most are expected to share a common DNA, the firm's human resources chief tells Shefali Anand.

India Court Orders Handover of Tapes
India's Supreme Court ordered the government to hand over tapes of conversations between a high-powered lobbyist and some of India's best-known journalists.

World Cup Headed to Russia and Qatar
Soccer's world governing body awarded the 2018 Cup to Russia and the 2022 Cup to Qatar, leaving fans in England and the U.S. disappointed.

U.S. Sees Greater North Korea Threat
The Obama administration told the United Nations nuclear watchdog that North Korea likely has built more than one uranium-enrichment facility, significantly raising the proliferation threat posed by the secretive communist state.
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Google Set to Launch E-Book Venture
Google is in the final stages of launching its long-awaited e-book retailing venture, Google Editions, which could transform the digital book market through a "read anywhere" model.

India Food Inflation Eases Sharply
India's food inflation rate eased sharply in the week ended Nov. 20, slipping into a single digit for the first time since May 2009, raising expectations of a further decline of the still red-hot prices.

India Court Orders Handover of Tapes
India's Supreme Court ordered the government to hand over tapes of conversations between a high-powered lobbyist and some of India's best-known journalists.

New Link in Chain of Life
Researchers said they had created microbes that "very likely" use arsenic in their DNA in place of phosphorus, in what may be the first exception to the formula long thought to govern the basic chemistry of life.

The Year's Top 10 Highest-Paid CEOs
The Wall Street Journal's latest CEO pay survey shows top players include Liberty's Maffei, Occidental's Irani and Oracle's Ellison.
 
India Real Time
The India Visit: Sarkozy vs. Obama
When French President Nicholas Sarkozy arrives in India on Saturday, expect him to woo the world's largest democracy?like U.S. President Barack Obama a month earlier. But Mr. Sarkozy?s itinerary shows that his priorities are somewhat different.

Career Journal: What ICICI Looks for in Employees
ICICI Bank hires thousands of people every year. Most are expected to share a common DNA, the firm's human resources chief tells Shefali Anand.

India Digest: Kasab Prosecutor to Speak Before UNSC
Here is a roundup of news from Indian newspapers, news wires and Web sites on Friday, December 3, 2010. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.

India This Evening: Raja Faces Supreme Court Ire for Bypassing Singh
Here is a roundup of news from Indian newspapers, news wires and Web sites on Thursday, December 2, 2010. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.

India Journal: What Difference Will the Radia Tapes Make?
They have shaken the journalistic establishment but the true test will be whether readers and viewers vote by changing their habits, says Rupa Subramanya Dehejia.