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Jan 31, 2011

Financiial & Forex Info News : Hong Kong Financial And Business News | The Standard

FINANCIAL & FOREX INFO NEWS


 
 
Last Update January 28, 2011 

 
Relief calls mount as surplus hits $58.9b
Hong Kong posted a surplus of HK$58.9 billion for the nine months to December, compared with a HK$1.2 billion deficit for the same period a year earlier, the government said yesterday.

 

01/ 02/ 2011
Hongqiao scraps float
Liquidity dip trims stocks
HSI membership shut
Relief calls mount as surplus hits $58.9b
Yuan data lift for equities
Growing on trees
Property sector feels the pinch as fresh taxes start to bite
Curbs fear fails to reach home
Get more gold, Beijing told
31/ 01/ 2011
Slowdown masks property bonanza
Banks' reserve ratios may be raised in inflation fight
More members see luster beyond GEM
Peak Sport insists it can stay on top of game
Potential crises may be found in the data
Yuan bill purchases drive down yield
Rush to snap up flats before tax
Imports tipped to rise faster than exports
CDB bids for German bank
State aid for Spanish lenders
Positive signs despite Egyptian jitters
Price hikes spark Beijing farm push

GATA : THE GATA DISPATCHES : Gold & Silver Decline is Over / Davos see Dollar Losing Reserve Dominance

Gold and silver decline is over, Turk tells King World News

Submitted by cpowell on 02:44PM ET Monday, January 31, 2011. Section: Daily Dispatches 5:40p ET Monday, January 31, 2011
Dear Friend of GATA and Gold (and Silver):
The recent decline in gold and silver prices is over as oil and other commodity prices continue to rise, GoldMoney founder and GATA consultant James Turk tells King World News. Excerpts from the interview can be found at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/31_Ja...
Or try this abbreviated link:
http://tinyurl.com/4ctpfc7
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action committee Inc.

Policy makers at Davos see dollar losing reserve dominance

Submitted by cpowell on 02:25PM ET Monday, January 31, 2011. Section: Daily Dispatches By Paul Carrel
Reuters
Monday, January 31, 2011
http://www.reuters.com/article/2011/01/31/uk-davos-dollar-idUKTRE70U3X82...
DAVOS, Switzerland -- The U.S. dollar's role as a reserve currency will diminish in the coming years as Asian economies like China grow and countries seek to diversify their monetary holdings, policymakers said on Friday.
The U.S. Federal Reserve's policy of quantitative easing -- essentially printing money -- and a call by France to look at ways to wean the world off the dollar as the sole reserve money have put the U.S. currency in the spotlight.
"I'm more optimistic about the euro gaining strength as a potential reserve currency," Bank of Israel Governor Stanley Fischer said during a panel discussion at the annual World Economic Forum here.
"We ourselves are diversifying into currencies which we would never have put in the reserves before, including the Australian dollar and so forth," he added. "I think people will diversify their reserves."
French President Nicolas Sarkozy is trying to rally the Group of 20 powers to the idea of a more varied monetary system after decades of the dollar being the world's reserve currency and a major unit of international trade settlement.
The dollar debate comes at a time when many countries are tempted to let their currency drop to promote exports and growth after the worst downturn since World War Two, even if that can be at each others' expense.
Bank of Canada Governor Mark Carney and Fischer anticipated that, in the long run, Asian monies would have a greater role as reserve currencies.
"I agree with Stan (Fischer) that over time there will be more of a multi-polar system. Other currencies will play a central role in reserves," he said. "The (Chinese) renminbi, over time, should have a role as a reserve currency."
Turkish Finance Minister Mehmet Simsek saw the United States' quantitative easing policy leading to a diversification of reserve holdings.
"If the U.S. continues the way it is ... certainly countries will look for alternatives because you can't print so much money and expect no consequences," he said.
"Ultimately the centre of gravity is shifting toward the East," Simsek added. "Certainly 10 years from now there could be a very different landscape."

* * *

Join GATA here:
Phoenix Investment Conference and Silver Summit
Renaissance Glendale Hotel and Spa
Friday-Saturday, February 18-19, 2011
Glendale, Arizona

http://cambridgehouse3.com/conference-details/phoenix-investment-confere...

MarketWatch - Personal Finance Daily : Don't settle for less than the best in your 401(k)

MarketWatch
Personal Finance Daily
JANUARY 31, 2011

Monday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:

Does your 401(k) plan offer you the tools you need to successfully save for retirement?

As Robert Powell details in his column, some plans do a better job than others in offering workers help and information on successfully saving for retirement, not to mention creating an income stream when they retire.
Workers in the plans with some of the top-rated features end up with more money in their accounts, according to one study.


Read his story, and also read about a new survey that finds wealthy baby boomers saying their standard of living in retirement will top their parents', and don't miss Amy Hoak's column on why more homeowners are planning to remodel this year.

If your 401(k) doesn't have some of those tools, then as Powell notes, it makes sense to ask for them. But if the 401(k) tools are there but you aren't using them, that's another story.

Andrea Coombes , Personal Finance editor

RETIREMENT

Don't settle for less than the best in your 401(k)

A recent study shows many 401(k) plan sponsors aren't offering a feature that some regard as a necessary ingredient of a best-in-class 401(k) plan. That got us wondering: What are the best features for a 401(k) plan?
Read more: Don't settle for less than the best in your 401(k).


Wealthy boomers' retirement outlook? Rosy

While a small portion of high net-worth baby boomers say their retirement plans got hit by the financial crisis, a majority say their standard of living will be better than their parents' was, according to a new survey.
Read more: Wealthy boomers' retirement outlook? Rosy.


REAL ESTATE

Remodeling projects making a comeback

After years of shelving projects and doing only improvements deemed absolutely necessary, more homeowners are dusting off their remodeling plans this year as they grow more hopeful about the economy.
Read more: Remodeling projects making a comeback.


TAXES

Tax tips for unemployed workers

At least 14.5 million people are unemployed in the United States, and many of them will have some tax-time chores.
Watch video: Tax tips for unemployed workers.


Obama proposes tax relief for small businesses

President Barack Obama will ask Congress to permanently eliminate capital-gains taxes on certain investments in small businesses as part of the budget plan he submits to Congress next month, a White House official said.
Read more: Obama proposes tax relief for small businesses.


The $5 million tax break

Largely lost amid all the political drama surrounding December's historic tax legislation was a sweet deal for families. For the next two years, the gift-tax exemption jumps to $5 million from $1 million for individuals and to $10 million from $2 million for couples — meaning people can give away that much without paying a penny in taxes.
Read more: The $5 million tax break.


SPENDING & SAVING

Auto review: 2011 Infiniti FX50 S

Infiniti puts the sport back in sport utility with its updated FX50.
Read more: The 2011 Infiniti FX50 S.


ECONOMY & POLITICS

U.S. consumer spending picks up in December

Consumer spending gathers steam, December data show, in a sign that the economy entered 2011 with some momentum. The 0.7% increase in consumer spending comes in modestly stronger than forecast.
Read more: U.S, consumer spending picks up in December.


Delinquencies receding, bankers believe

After five years of deteriorating credit quality, massive write-downs and the loss of trillions in wealth, U.S. banks are finally beginning to believe that the worst is over.
Read more: Delinquencies receding, bankers believe.


Commentary: Consumers pick up their spending habit

It's good to see people feeling confident enough to spend, but until there's some solid strength behind the gains, we should hold off on celebrating.
Read more: Consumers pick up their spending habit.


Commentary: Obama must redefine aims of aid to Egypt

America for decades has provided billions in foreign aid to Egypt. As antigovernment protests rage in Cairo, President Obama must tell Egypt's current and future leaders that the goals of that aid have changed dramatically.
Read more: Obama must redefine aims of aid to Egypt.


TRAVEL

Some tourists remain in Egypt despite chaos

Airlines were evacuating travelers from Egypt's major cities Monday as an antigovernment revolt that has left at least 125 people dead spilled into a seventh day, but some travel operators were continuing to fly tourists to the country's Red Sea tourist resorts, insisting they were safe.
Read more: Some tourists remain in Egypt despite chaos.


INVESTING

Adviser rules may not serve investors' interests

If fund companies are about to be pushed to act in shareholders' best interests, the business should soon undergo a major simplification.
Read more: Adviser rules may not serve investors' interests.


Commentary: Markets' reaction to geopolitical crises

Surprising as the stock market's sanguine reaction to the Egyptian political crisis might otherwise appear to be, it actually is right in line with how investors have reacted to past geopolitical crises.
Read more: Markets' reaction to geopolitical crises.


Commentary: Who cares about the market? Just buy good stocks!

Friday's big break unnerved many investors. But a top-performing letter ignores it and says stay fully invested.
Read more: Who cares about the market? Just buy good stocks!

Stocks See Gains As U.S. Data Offsets Egypt Concerns - U.S. Commentary | RTTNews Evening Market Wrap

Evening Market Wrap Mon Jan 31 17:01 2011

Commentary

Jan 31, 2011 Stocks See Gains As U.S. Data Offsets Egypt Concerns - U.S. Commentary Stocks saw moderate gains to open the week on Monday, with healthy readings on Chicago-area business activity and personal income and spending helping to overcome concerns about the ongoing chaos in Egypt. The major averages moved to the upside going into the close, with the Dow ending the session at its high for the day. Full Article

Economic News

Jan 31, 2011 U.S. Personal Income Rises By 0.4% In December Personal income in the U.S. increased in line with economist estimates in the month of December, according to a report released by the Commerce Department on Monday, while the report also showed a bigger than expected increase in personal spending. The report showed that personal income increased by 0.4 percent in December, matching the upwardly revised increase seen in the previous month. Economists had expected income to increase by 0.4 percent. Full Article
Jan 31, 2011 Chicago Business Barometer Rises To Highest Level In Over 20 Years Chicago-area business activity expanded for the sixteenth consecutive month in January, the Institute for Supply Management - Chicago revealed in a report on Monday, with the Chicago business barometer unexpectedly rising to its highest level in over twenty years. The ISM Chicago said its Chicago business barometer rose to 68.8 in January from 66.8 in December, with a reading above 50 indicating growth in Chicago-area business activity. Full Article

Corporate News

Jan 31, 2011 Exxon Mobil Earnings Beat Street On Higher Oil PricesCrude oil and natural gas producer Exxon Mobil Corp. (XOM) Monday reported higher fourth-quarter earnings, driven by higher crude oil and natural gas price realizations amid growing demand. Both earnings per share and revenue surpassed Wall Street analysts' forecast. Fourth-quarter net income attributable to the company was $9.25 billion, up from $6.05 billion a year ago. Quarterly earnings per share improved to $1.85 from $1.27 in the prior-year quarter. Full Article
Jan 31, 2011 Gannett Profit Rises On Lower CostsNewspaper group Gannett Co. (GCI) Monday reported a rise in fourth-quarter profit as costs declined even as revenues were almost flat with last year. Net income attributable to the company increased to $174.14 million or $0.72 per share from last year's $133.60 million or $0.56 per share. In the preceding third quarter, the company's net income was $101.41 million or $0.42 per share. Full Article
Jan 31, 2011 Illinois Tool Works Profit Declines Despite Revenue GrowthIndustrial products maker Illinois Tool Works Inc. (ITW) on Monday reported a 23 percent decline in profit for the fourth quarter, as a tax benefit that favored the prior-year period did not repeat this year. Revenues grew year-on-year and topped market consensus. Looking ahead, the company provided earnings outlook for the first quarter above analysts' expectations. Full Article
Jan 31, 2011 Honda Profit Falls; Lifts ForecastJapanese automaker Honda Motor Co. Ltd. (HMC) reported Monday a 40 percent decline in profit for the third quarter, mainly reflecting sharp decline in domestic automobile unit sales as well as unfavorable currency effects. The company lifted its fiscal 2011 earnings forecast, but lowered its revenue view due to anticipated decline in automobile unit sales. Full Article

Political News

Jan 31, 2011 Foreigners Being Evacuated As Deadly Anti-government Protests Rage In EgyptSeveral countries have announced plans to evacuate their citizens from Egypt as efforts to suppress the week-old anti-government protests seeking President Hosny Mubarak's resignation claimed the lives of more than 150 people. Tens of thousands of pro-democracy demonstrators thronged the streets of Egypt's main cities for a sixth day on Sunday, defying curfews and a heavy military presence, reports say. Full Article
Jan 31, 2011 Huckabee Expresses Support For Israeli Settlement ConstructionWhile the international community widely considers the construction of Israeli settlements in the West Bank and East Jerusalem to be in violation of international law, potential Republican presidential candidate Mike Huckabee has likened efforts to prevent the settlement construction to discrimination. Full Article
Jan 31, 2011 Florida Judge Rules Health Care Reform Law Violates ConstitutionA federal judge in Florida issued a ruling Monday striking down the health care reform law signed into law by U.S. President Barack Obama last year, with the judge determining that the mandate for individuals to buy health insurance is unconstitutional. U.S. District Judge Roger Vinson ruled that Congress exceeded the bounds of its authority in passing the legislation with the inclusion of the individual mandate. Full Article
Jan 31, 2011 Most Americans Say GOP Leaders Should Take Tea Party Ideas Into AccountReflecting the political clout held by the Tea Party following the midterm elections, the results of a USA Today/Gallup poll released on Monday showed that about 7 in 10 Americans think it is important for Republican leaders in Congress to take the Tea Party's objectives and positions into account. Full Article

NYT: Afternoon Business News : Exxon's Profit Rises in Quarter, Helped by Higher Oil Prices.


BUSINESS

Exxon's Profit Rises in Quarter, Helped by Higher Oil Prices

By CLIFFORD KRAUSS
Oil companies have benefited not only from strengthening oil prices but also from improved margins in their refinery businesses.
DealBook

Another Hedge Fund Linked to Insider Trading Inquiry

By EVELYN M. RUSLI and PETER LATTMAN
Samir Barai, whose firm Barai Capital Management was raided in November by the F.B.I., has been identified as a co-conspirator in one insider trading case, according to a person with knowledge of the matter.

Unrest in Egypt Unsettles Global Markets

By CHRISTINE HAUSER
The instability could hinder oil shipments, raise energy costs and drive equity prices down.

Chrysler Reports $199 Million Loss for Quarter

By BILL VLASIC
The carmaker pledged to return to profitability this year on the strength of new products.

Boeing Received Improper Subsidies, W.T.O. Says

By NICOLA CLARK and CHRISTOPHER DREW
The confidential finding is in response to a long-standing complaint by the European Union over United States government support of Boeing.

Financial & Forex IInfo News | Reuters Daily Investor Update: Stocks Gains on Earnings

 FINANCIAL & FOREX INFO NEWS


FROM:  REUTERS - DAILY INVESTOR UPDATE

LATEST NEWS
Stocks gains on earnings
NEW YORK (Reuters) - Stocks rose on Monday on strong earnings and signs of a strengthening economy, even as a surge in the price of oil highlighted the potential for increased political risk in the Middle East to upset markets. | Full Article

Intel discovers chip flaw in midst of major launch
January 31, 2011 04:07 PM ET
SAN FRANCISCO (Reuters) - Intel Corp found a defect in one of its chips, hurting its credibility during a major product launch and at a time when demand for microprocessors in PCs is being threatened. | Full Article
Exxon shares rise as profit tops Street view
January 31, 2011 03:40 PM ET
HOUSTON (Reuters) - Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in Qatar and the United States. | Full Article
Factory and spending data support strong growth tone
January 31, 2011 04:13 PM ET
WASHINGTON (Reuters) - Factory activity in the U.S. Midwest hit a 22-1/2 year high in January as orders surged and employment prospects brightened, providing a fresh signal that the economy would stay on a solid growth path this year. | Full Article
Goldman's Tourre cannot delay SEC case, judge says
January 31, 2011 02:21 PM ET
NEW YORK (Reuters) - Goldman Sachs Group Inc vice president Fabrice Tourre lost his bid to delay depositions in a U.S. regulator's lawsuit accusing him of misleading investors about a product linked to subprime mortgages. | Full Article

FINANCIAL & FOREX INFO NEWS : Charter flight to the resuce for stranded Aussies | The Capital Circle

FINANCIAL & FOREX INFO NEWS



Capital Circle Newsletter

Charter flight to the resuce for stranded Aussies |
 
As Egyptians hope for democratic change, the federal government is flying our citizens home.

The PM's day, per the press office: Julia Gillard will be in Melbourne by lunch time to deliver a speech at around 1pm to CEDA, the Committee for Economic Development of Australia. She will be in Canberra this morning and may hold a press conference.
Opposition leader Tony Abbott is in Sydney today and has no public appearances planned. In other words, he is working.
The Coalition shadow cabinet will meet in Canberra on Friday.
Regional Australia Minister Simon Crean leaves today to visit the Cocos and Christmas Islands.
The Reserve Bank of Australia meets today to decide on a rate rise. Economists expect rates to remain on hold.
Gallery movements: the Courier-Mail's Anna Caldwell has moved from Brisbane to the paper's Canberra bureau. The Herald-Sun's Matt Johnston has moved from Melbourne to the paper's Canberra bureau to replace Capital Circle's new boss, Ben Packham. And Steven Scott is finishing at the Fin Review to take over at the Courier-Mail from Capital Circle's other new boss, Stefanie Balogh. Any other moves in the offing? Email me - massolaj@theaustralian.com.au
Congratulations to press gallery "power couple" Nick Butterly, from the West Australian and Sophie Morris, from the Financial Review, on the birth of their daughter Jessica Grace.
The parliamentary budget office inquiry, one of the features of the 'new paradigm' will be held today. The list of departments that will appear is here.
Tweet of the day - from @indefensible: "Whenever I hear the phrase 'intelligent design', I reach for my evolver.''
***Sign up to Capital Circle -- your morning shot of news and views***
Driving the day - the Australian leads with a repo
Read more...

U.S. stocks rise; Dow has best January since 1997 | Market Watch - Pulse


By Laura Mandaro

SAN FRANCISCO (MarketWatch) - U.S. stocks closed higher Monday, helped by a jump in energy stocks on the back of earnings from heavyweight Exxon Mobil Corp. /quotes/comstock/13*!xom/quotes/nls/xom (XOM 80.68, -0.03, -0.03%) and deals in that sector, and as some of the worries about contagion from Egyptian protests abated. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 11,892, +68.23, +0.58%) ended up 68.23 points, or 0.6%, to 11,891.93 and gained 2.7% for the month, its best January since 1997. Alcoa, Inc. /quotes/comstock/13*!aa/quotes/nls/aa (AA 16.57, +0.01, +0.03%) and Exxon /quotes/comstock/13*!xom/quotes/nls/xom (XOM 80.68, -0.03, -0.03%) shares led session gainers; both rose more than 2%. The S&P 500 /quotes/comstock/21z!i1:in\x (SPX 1,286, +9.78, +0.77%) added 9.78 points, or 0.8%, to 1,286.12, led by a 2.6% gain in energy stocks. It rose 2.3% for the month. The Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,700, +13.19, +0.49%) added 13.19 points, or 0.5%, to 2,700.08 and gained 1.8% for the month.

NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS: Accounts and People of Note in the Ad Industry


Alert Name: FGC BOLSA - FGC FINA
January 31, 2011 

BUSINESS DAY / MEDIA & ADVERTISING


Charlotte Bartholomew joined Allen & Gerritsen, Watertown, Mass., in a new post, multimedia designer.

MarketWatch: Special Financial Services : Auto makers set for another strong month.

MarketWatch
 SPECIAL FINANCIAL SERVICES
 
Auto makers set for another strong month
 
By Shawn Langlois MarketWatch


A strengthening economy spurs retail demand for new cars and trucks. See full story

2012 Republican presidential candidates all have flaws : The Washington Post Afternoon Edition - Most Read Articles

Washington Post





1) 2012 Republican presidential candidates all have flaws

Mitt Romney can't win the 2012 Republican presidential nomination.

2) New estimates put Pakistan's nuclear arsenal at more than 100

Pakistan's nuclear arsenal now totals more than 100 deployed weapons, a doubling of its stockpile over the past several years in one of the world's most unstable regions, according to estimates by nongovernment analysts.

3) Egyptian police reappear alongside army as Mubarak protests enter 7th day

CAIRO - Uniformed Egyptian police were back on the streets of this capital city Monday after disappearing over the weekend, as thousands of pro-democracy protesters showed no sign of obeying a midafternoon government-imposed curfew.

4) Gene and the Machine: The shocking truth about the electric Volt

Washington Post humor columnist and professional skeptic Gene Weingarten test-drives the electric Chevy Volt.

5) 'A Rosa Parks moment for education'

Guess who America's public schools are failing.

6) Despite price rebound, many Washington area homeowners still face steep losses

The Washington area is one of the few regions in the country where home values have been consistently climbing in recent months, with typical prices increasing 8 percent since hitting bottom two years ago.

7) Funeral pyres an option in Colo. mountain town

CRESTONE, Colo. -- Belinda Ellis' farewell went as she wanted. One by one, her family placed juniper boughs and logs about her body, covered in red cloth atop a rectangular steel grate inside a brick-lined hearth. With a torch, her husband lit the fire that consumed her, sending billows of smoke...

8) Recent decisions amount to a dressing down for 9th Circuit

Sometimes the Supreme Court simply decides cases and sometimes it seems to have something bigger in mind. In the past two weeks, it has been in scold mode, and its target has been the U.S. Court of Appeals for the 9th Circuit.

9) SAG Awards 2011: Winners, losers, photos and more

The 17th Screen Actors Guild Awards were held on Sunday, and 'King's Speech' took several top prizes, as AP reported:

10) Chaos at Cairo airport as foreigners flee Egypt

CAIRO - Toilets overflowed and convenience stores began running out of snacks at Cairo's international airport early Monday as tourists from around the world besieged terminals in a mad scramble to flee Egypt's growing chaos.

President Obama: Economic cheerleader : The Washington Post Politics: Afternoon Edition - Most Read Opinions Columns

Washington Post
1) President Obama: Economic cheerleader
President Obama has become the host of what feels like a looping infomercial on American innovation.
» Read full article

2)
ON FAITH: Huckabee, Santorum dive into Egypt debate
Both 2012 hopefuls weighed in as Egyptians decide whether religion and democracy can co-exist.
» Read full article

3)
THE FIX: The case for Jon Huntsman
Talk of a 2012 presidential candidacy by Jon Huntsman, the Obama administration's ambassador to China, is heating up.
» Read full article

4)
FEDERAL EYE: Top Marines pledge to 'step out smartly' to repeal 'don't ask, don't tell'
In a new video, Marines Commandant Gen. James Amos and Sgt. Maj. Carlton W. Kent, the Marine's top enlisted man, remind the rank and file that a change in policy is coming and they expect them to follow the new orders.
» Read full article

5)
44: Aide says Palin did not walk back 'don't retreat, reload'
Former Alaska governor Sarah Palin's aide Rebecca Mansour is firing back after the Reno Gazette-Journal reported that, instead of her usual catchphrase "don't retreat, reload" Palin said to a Nevada audience "don't retreat, stand tall."
» Read full article

MarketWatch : ISpecial Financial Services.- Novellus results slated for late-session release

MarketWatch
Special Financial Services
 
After Hours: Novellus results slated for late-session release
 
By Carla Mozee MarketWatch


The chip equipment maker and McKesson Corp. are among the companies slated to release quarterly results Monday evening.  See full story

Financial And Forex Info News : America's Container Ports: Linking Markets at Home and Abroad | RITA

FINANCIAL & FOREX INFO NEWS





DOT 14-11
America's Container Ports: Linking Markets at Home and Abroad
Friday, January 28, 2011 - The Department of Transportation’s Bureau of Transportation Statistics has released America’s Container Ports: Linking Markets at Home and Abroad, an overview of the movement of maritime freight handled by the nation's container ports in 2009 through mid-2010. The report summarizes trends in maritime freight movement since 1995, especially during the last five years. It also covers the impact of the recent U.S. and global economic downturn on container traffic; regional shifts in cargo handled, vessel calls, and port capacity; the rankings of U.S. ports among the world's top ports; and the number of maritime container entries into the United States compared to truck and rail containers. The report also includes summaries of landside access to container ports and maritime security initiatives. For the latest maritime-related BTS data products, please visit the BTS Maritime Program website. Contact Dave Smallen: 202-366-5568.

Stocks May See Cautious Upside To Open Week - U.S. Commentary

Morning Market Briefing Mon Jan 31 09:27 2011

Commentary

Jan 31, 2011 Stocks May See Cautious Upside To Open Week - U.S. Commentary Stock futures are pointing to modest gains on Monday, as the markets are digesting an in-line pickup in personal income and better than expected earnings from oil giant Exxon Mobil (XOM) while keeping an eye on the ongoing turmoil in Egypt. The major index futures are all in positive territory, with the Dow futures up by 41 points. Full Article

Economic News

Jan 31, 2011 Eurozone Inflation Breaches ECB Target For 2nd Month Eurozone inflation rose further in January, staying above the European Central Bank's target for the second straight month. Full Article
Jan 31, 2011 New Zealand Dec Trade Deficit NZ$250 MillionNew Zealand posted a trade deficit of NZ$250 million in December, Statistics New Zealand said on Monday, following a NZ$186 million shortfall in November. Full Article
Jan 31, 2011 South Korea Dec Industrial Output Rises 9.8% On YearIndustrial production in South Korea climbed 9.8 percent on year in December, Statistics Korea said on Monday - exactly in line with forecasts following the upwardly revised 10.7 percent annual expansion in November. Full Article
Jan 31, 2011 Japan Industrial Output Adds 3.1% On Month In DecIndustrial production in Japan rose a seasonally adjusted 3.1 percent in December compared to the previous month, the Ministry of Economy, Trade and Industry said in a preliminary report on Monday, rising for the second straight month. Full Article
Jan 31, 2011 Philippine Economic Growth SoarsThe Philippine economy grew at the fastest pace in more than two decades last year led by strong household consumption and investment, official figures showed on Monday. Full Article
Jan 31, 2011 German Retail Sales Drop Unexpectedly In December German retail sales failed to recover in December despite Christmas sales, as heavy snowfall held back consumers. Full Article
Jan 31, 2011 Checkered Economic RecoveryThe U.S. economic growth accelerated to a 3.2% rate in the fourth quarter of 2010 from 2.6% in the third quarter, as consumers stepped up activity, giving a thrust to domestic demand, excluding inventories. Full Article
Jan 31, 2011 U.S. Personal Income Increases In Line With Estimates Personal income in the U.S. increased in line with economist estimates in the month of December, according to a report released by the Commerce Department on Monday, while the report also showed a bigger than expected increase in personal spending. Full Article

Earnings News

Jan 31, 2011 Illinois Tool Works Q4 Profit DropsIndustrial manufacturer Illinois Tool Works Inc. (ITW) said Monday fourth-quarter profit fell 19%, reflecting a tax adjustment that favored the prior-year quarter. Earnings missed estimates, but revenues rose 11% and beat the Street view. The company issued first-quarter 2011 earnings outlook, a range above analysts' estimates. Full Article
Jan 31, 2011 Exxon Mobil Q4 Profit Jumps 53%Oil and natural gas company Exxon Mobil Corp. (XOM) Monday announced a 53% increase in fourth-quarter profit on a 19% surge in production. Adjusted earnings and revenues topped estimates. Full Article
Jan 31, 2011 Check Point Software Q4 Profit Up 25%Network security solutions provider Check Point Software Technologies Ltd. (CHKP) reported Monday a 25% rise in fourth-quarter net profit with revenues climbing 17%. Both adjusted earnings and revenues exceeded expectations. Full Article
Jan 31, 2011 Enbridge Energy Partners Reports Q4 LossCrude oil and natural gas transportation systems provider Enbridge Enery Partners LP (EEP) Friday reported a loss for the fourth-quarter owing to increased operating costs and one-time charges. Adjusted earnings missed estimates while revenues beat the Street view. Full Article
Jan 31, 2011 Honda Q3 Profit DropsJapan-based Car manufacturer Honda Motor Co. (HMC) said Monday third-quarter profit dropped 39.7% owing to unfavorable currency translation effects. Lower automobile sales in Japan led to a 5.8% revenue decline. However, the company expects a 97.5% rise in net income and 3.7% increase in revenues in fiscal 2011. Full Article
Jan 31, 2011 Gannett Q4 Profit Up 30%News and information company Gannett Co. Inc. (GCI) reported Monday a 30.3% increase in net income, thanks to lower expenses. Adjusted earnings topped estimates, but revenues, which increased marginally, missed the Street view. Full Article

Corporate News

Jan 31, 2011 ProLogis, AMB to Merge in All-Stock DealIndustrial real estate owner AMB Property Corporation (AMB) and distribution facilities provider ProLogis (PLD) Monday agreed to a merger-of-equals, thereby forming an UPREIT to be called ProLogis. The all-stock transaction is expected to close in the second quarter of 2011. Annual savings of $80 million are expected on full integration of the two companies. Full Article
Jan 31, 2011 Alpha Natural to acquire Massey Energy in $8.5 Bln DealCoal supplier Alpha Natural Resources, Inc. (ANR) and coal producer Massey Energy Co. (MEE) Saturday announced an agreement by which Alpha Natural would acquire Massey in an $8.5 billion cash and stock deal that is expected to close in mid-2011. The merger, according to the companies. would result in a largest coal company in the U.S. Central Appalachian region. Full Article

Broker Ratings Changes

Jan 31, 2011 KeyBanc Capital Markets Downgrades Penn National Gaming Inc (PENN) To Hold From Buy
Jan 31, 2011 KeyBanc Capital Markets Downgrades Stanley Black & Decker, Inc. (SWK) To Hold From Buy

Todays WS Events

Jan 31, 2011 Altria Investors Day At 9:00 AM ET Altria Group, Inc. (MO) will host its Investor Day in New York, NY. The event is scheduled to begin at 9:00 AM ET, January 31, 2011. To listen to the live webcast, log on at www.altria.com
Jan 31, 2011 Exxon Mobil Q4 10 Earnings Conference Call At 11:00 AM ET Exxon Mobil Corp. (XOM) will host a conference call at 11:00 AM ET, to discuss Q4 10 earnings results, on January 31, 2011. To access the webcast, log on to www.exxonmobil.com To hear the live call, dial 877-208-2391 (US) or 816-581-1736 (International) with pass code 7013740.
Jan 31, 2011 Illinois Tool Works Q4 10 Earnings Conference Call At 2:00 PM ET Illinois Tool Works Inc. (ITW) will host a conference call at 2:00 PM ET, January 31, 2011, to discuss its Q4 10 earnings results. To access the audio webcast, log on at www.itw.com To hear the call, dial 312-470-0008 with passcode ITW. A replay of the call can be heard by dialing 402-998-1344.
Jan 31, 2011 Darden Restaurants 2011 Analyst & Investor Day At 3:00 PM ET Darden Restaurants Inc. (DRI) CEO, Clarence Otis will host its 2011 Analyst & Investor Day in Orlando, FL. The event is scheduled to begin at 3:00 PM ET, January 31, 2011. To access the webcast, log on to www.videonewswire.com/event.asp?id=74142
Jan 31, 2011 Plum Creek Timber Q4 10 Earnings Conference Call At 5:00 PM ET Plum Creek Timber Co. Inc. (PCL) will host a conference call at 5:00 PM ET, to discuss Q4 10 earnings results, on January 31, 2011. To access the live webcast, log on to www.plumcreek.com To hear the call, dial 1-800-572-9852 or 1-706-645-9676. A replay of the call can be heard by dialing 1-800-642-1687 or 1-706-645-9291 (International) with passcode 26072897.

Stock futures edge up as M&A tempers Egypt worry |

FINANCIAL & FOREX INFO NEWS



FROM: REUTERS - BUSINESS TODAY

Stock futures edge up as M&A tempers Egypt worry
NEW YORK (Reuters) - U.S. stock index futures edged higher on Monday as merger activity and expectations for solid earnings overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East. | Full Article

Exxon profit rises 53 percent, tops Street
January 31, 2011 08:25 AM ET
HOUSTON (Reuters) - Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit as an improving world economy sparked higher demand for fuel and chemicals as crude oil prices rose. | Full Article
ProLogis to buy AMB in bid to form warehouse giant
January 31, 2011 08:37 AM ET
NEW YORK (Reuters) - AMB Property Corp has struck a deal to acquire rival ProLogis in one of the biggest real-estate deals since the financial crisis, creating the largest U.S. owner of warehouse and distribution centers. | Full Article
Chrysler posts loss; projects profitable 2011
January 31, 2011 08:05 AM ET
DETROIT (Reuters) - Chrysler Group LLC, the automaker managed by Fiat SpA, reported a net loss for the fourth quarter and projected profits in 2011, the year it plans to go public. | Full Article
Consumer spending rises 0.7 percent in December
January 31, 2011 08:36 AM ET
WASHINGTON (Reuters) - U.S. consumer spending rose more than expected in December to post the sixth straight month of gains as households drew down on their savings to fund purchases, government data showed on Monday. | Full Article