Sunday, February 24, 2013

Wall Street to rebound on HP results after two-day drop

NEW YORK (Reuters) - U.S. stock index futures rose on Friday, indicating the S&P 500 would rebound after two days of losses, boosted by better-than-expected earnings from Hewlett-Packard and positive economic data from Europe.

The S&P 500 <.spx> has dropped 1.9 percent over the past two sessions, its worst two-day drop since early November, putting the benchmark index on pace for its first weekly decline of the year. The retreat was triggered by minutes from the Federal Reserve's January meeting released earlier in the week which suggested stimulus measures may end earlier than thought.

Still, the index is up more than 5 percent for the year and has held the 1,500 support level.

"When you get a move like that, you are bound to see a pause and the Fed minutes is a good enough reason to at least reassess," said Michael Marrale, head of research, sales and trading at ITG in New York.

"But if, in fact, things do heat up a bit (in the economy), ultimately we are going to see rates go higher and ultimately, that will take money out of bonds and into equities, which is a major backstop for equities."

Hewlett-Packard Co climbed 5.1 percent to $17.97 in premarket trading after the top PC maker's quarterly revenue and forecasts beat analysts' expectations as it continued to cut costs under CEO Meg Whitman's turnaround plan.

The German Ifo business climate indicator for February surged to 107.4, its best one-month rise in more than two years, boosting optimism after Thursday's disappointing PMI data stoked concerns over the euro zone economy.

S&P 500 futures rose 8.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 73 points, and Nasdaq 100 futures added 14.75 points.

Abercrombie & Fitch dipped 1 percent to $48.60 in premarket trading after the clothing retailer reported a drop in fourth-quarter comparable sales, even as the latest quarterly earnings topped estimates.

Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 4.4 percent to $38.91 in premarket trading.

Marvell Technology Group Ltd rose 5.8 percent to $10.02 in premarket trading after the chipmaker forecast results this quarter that were largely above analysts' expectations as it gained market share in the hard-disk drive and flash-storage businesses.

Darden Restaurants edged up 0.3 percent to $44.89 in premarket trading after the restaurant operator issued its third-quarter and 2013 outlook.

According to Thomson Reuters data through Thursday morning, of 427 companies in the S&P 500 that have reported results, 69.3 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.

Fourth-quarter earnings for S&P 500 companies are estimated to have risen 5.9 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.

(Editing by Bernadette Baum)

Source: http://news.yahoo.com/stock-index-futures-signal-rebound-102448148--finance.html

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Saturday, February 23, 2013

Global Energy Blog Asia, Fraud Watch Energy

http://www.theoildrum.com/node/9608 Global Energy Blog Asia, Fraud Watch Enery Globally, only two reports are published on an annual basis wherein the world?s energy situation is fully scrutinized. These have a huge impact because in many government and company decision boardrooms ? at least in Western Europe - everything which is written inside the two reports are seen as the truth, the whole truth, and nothing but the truth. We are talking about the International Energy Outlook of the United States Energy Information Administration, and the World Energy Outlook of the International Energy Agency funded by the OECD. A number of years ago China decided it needs its own version of the truth. To develop an expertise in generating models which encompass energy-economy-environment to understand how energy policy affects the future of China. It was decided at the highest levels to create 1) a short term outlook to 2015 which has just been published, and 2) A long term outlook to 2050 which will be published next year. They both encompass the Chinese and World energy situation. However, as usual the communication/language barrier - Mandarin is difficult to read for Westerners - makes this unbeknownst in the western world. Fortunately, I had the opportunity to attend the first presentation in the western world of the new China Energy Outlook, on 16 October at the Grantham Institute in London, delivered by Professor Han Wenke and Dr. Yang Yufeng. Both work for the Chinese Energy Research Institute, which is a part of the National Development Reform Commission of China, the government body in charge of macroeconomic planning. Global Energy Blog Asia, Fraud Watch Enery Read more: http://jaabrwoning.wordpress.com/tag/alternative-energy-asia-global-india/ http://www.asiaglobalenergy.com/mwp.html

Source: http://www.greenoptions.com/t/4933/global-energy-blog-asia-fraud-watch-energy

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Penelope Disick Rocks a Baby Balenciaga ? Thanks to Aunt Kim

Kim Kardashian shares an adorable photo of her niece and a mini Balenciaga bag on Instagram.

Source: http://feeds.celebritybabies.com/~r/celebrity-babies/~3/b2DPSMcykjY/

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Friday, February 22, 2013

Hi Everyone. We will be getting started with our Live Facebook Chat in just a f...

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Source: http://www.facebook.com/philadelphiazoo/posts/10151307648777934

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Armor Coach: Nets wanted to look at Kris Joseph

It was perhaps the most dramatic victory of the season for the Armor. Willie Reed tipped in a missed jumper by former Celtic Kris Joseph to beat the Idaho Stampede,107-105, in Boise on Wednesday night.

"That was my first game-winner ever, so I?m really going to cherish that," said the 6'10" Reed, who finished with 13 points while going 6-for-6 from the field and pulling down six rebounds.

The game marked the Armor debut for Joseph, who played six games for the Celtics earlier this season. After being cut by Boston, he joined their D-League affiliate, the Maine Red Claws. Last week, the Armor traded their center, James Mays, for Joseph. The Syracuse product finished with 24 points on 8-of-16 shooting, six rebounds, four steals and three assists.

"He?s a wing-scorer, and a guy who can score on the NBA level," Armor coach Bob MacKinnon said of Joseph. "We gave up an All-Star ? but (Joseph) is someone the Nets wanted to look at." The Nets don't own Joseph's NBA rights but he is learning the Nets system in Springfield.

The Nets have an open roster spot and depending on other moves could have additional spots by day's end. In addition to Reed and Joseph, the Armor roster includes former Nets Ben Uzoh and Dennis Horner as well as training camp invite Carleton Scott. The best player in the D-League, according to many scouting reports, is former Piston DaJuan Summers of the Red Claws.

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Source: http://www.netsdaily.com/2013/2/21/4013018/armor-coach-nets-wanted-to-look-at-kris-joseph

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Sony: PSN games won't transfer to the PS4, nor will your game saves

It's the morning after the night before, and Sony Worldwide Studios president Shuhei Yoshida has just confirmed to us that current-generation PSN titles won't transfer across to the PlayStation 4. The company admitted last night that PS3 games wouldn't be compatible with the latest console, but has added that it will try to make titles playable "in some form." Because the architecture of the Power-PC-based PS3 and x86-based PlayStation 4 are so different, Sony will only bring across games that don't guzzle the latest console's power in emulation. The executive also said that the company aims to offer server-side and cloud services to offer a wider library of older games, but said that's one for the "longer term."

Ben Gilbert contributed to this report.

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Source: http://www.engadget.com/2013/02/21/sony-psn-games-wont-transfer-to-ps4/

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