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Fears of U.S. slowdown fade as economy shows some muscle

by Zagros on February 9, 2012

WASHINGTON (Reuters) – A few months ago economists were all but certain the U.S. economy would slow sharply at the start of this year, with many warning that recession risks were growing.

That pessimism has been shaken off by a string of surprisingly solid data that paint a picture of an economy with building momentum.

The jobs market is picking up, manufacturing is accelerating and the service sector is also flexing its muscle – good news for President Barack Obama, who faces an election battle in November.

“We were among those people that had been expecting growth to slow. It now seems a lot less likely,” said Jeremy Lawson, an economist at BNP Paribas in New York.

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Euro rose to two-month highs versus the dollar and yen

by Zagros on February 9, 2012

Euro Strengthens to Two-Month High as Greece Signals Confidence in Bailout

The euro rose to two-month highs versus the dollar and yen after a Greek government official signaled confidence the currency bloc’s finance ministers will approve a second financing accord for the debt-strapped nation.

The common currency extended its gain against the yen to a third day after Greek politicians debated budget cuts needed to secure the bailout with a dispute remaining over pension cuts. The European Central Bank meets today to set monetary policy. The Dollar Index (DXY) touched the lowest in two months as Asian stocks erased drops, sapping demand for a haven.

“The market thinks they’ll patch together some sort of deal,” said Tim Kelleher, head of institutional foreign- exchange sales in Auckland at ASB Institutional, a unit of Commonwealth Bank of Australia, referring to Greece. “The market still appears to be very short euros as a speculative position, so that’s one of the reasons why it’s not going down.” A short position is a bet a currency will depreciate.

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Cisco sees profits rise over 43%

by Source of Article on February 9, 2012

8 February 2012
Last updated at 17:32 ET

Cisco shares rose in after-hours trading

Technology giant Cisco, saw a 43.5% rise in net profits to $2.2bn (£1.3bn) for the three months to 28 January 2012, compared with the same period in 2011.

Cisco’s results come after a prolonged period of cost-cutting, which saw the firm shed more than 6,000 jobs in 2011.

Cisco increased its dividend by two cents to eight cents per share.

Shares in the firm rose 2.4% in after-hours trading to $20.93, as the results beat analyst expectations.

“Broadly speaking, people expected a good quarter. This is probably a little better than expected and the dividend is an added surprise,” said Joanna Makris at Mizuho Securities.

“We are executing well on our three-year plan to drive earnings faster than revenue,” said Cisco chief executive John Chambers.

“Our operational focus continues to yield positive results, we hit our billion dollar expense reduction a quarter early, and our ongoing innovation enables our customers to solve their critical business needs.”

Article source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-16929306

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Chinese Stocks Heat Up

by Source of Article on February 9, 2012

Zacks highlights commentary from People and Picks Member
«inthemoneystocks».

For more Voice of the People, visit

http://at.zacks.com/?id=7872

Featured Post

Chinese Stocks Heat Up

Chinese stocks are flourishing today after the Shanghai Index
jumped to 2347.53, +57.04 (+2.43%). This pop set the China solar
stocks on fire with
Trina Solar Limited (ADR)

(
TSL

) trading at $9.00, +0.80 (+9.76%). Others like
JA Solar Holdings Co., Ltd. (ADR)

(
JASO

) and
Suntech Power Holdings Co., Ltd. (ADR)

(
STP

) are also having a big day.

Some Chinese small caps are still at or near their 52 week lows
despite the market rally in January 2012. These are catching fire.
Sino Clean Energy Inc.

(
SCEI

) is surging today, trading at $1.44, +0.09 (+6.67%).

The key is to look for Chinese stocks that are still trading at
or near their chart lows. These may be the next explosive movers.
There are not many stocks that are still cheap in this market, and
speculative money is searching for the next big mover. Any small
cap trading near its lows is a candidate, especially Chinese
plays.

Gareth Soloway

InTheMoneyStocks.com

About the Zacks Community

In 2008, Zacks Investment Research launched PeopleAndPicks.com,
a stock-picking website where members of the Zacks community can
test their strategies and share ideas with other members. Each user
is scored on the accuracy of his or her picks, and top users are
rewarded with free products from Zacks. Registration is free. To
learn more about People And Picks, visit

http://at.zacks.com/?id=7870

http://www.twitter.com/PeopleAndPicks

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc.,
which was formed in 1978 by Leonard Zacks. As a PhD in mathematics
Len knew he could find patterns in stock market data that would
lead to superior investment results. Amongst his many
accomplishments was the formation of his proprietary stock picking
system; the Zacks Rank, which continues to outperform the market by
nearly a 3:1 margin. The best way to unlock the profitable stock
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short, it’s your steady flow of Profitable ideas GUARANTEED to be
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the Pros by going to

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JA SOLAR HOLDGS (
JASO

): Free Stock Analysis Report

SUNTECH PWR HLD (
STP

): Free Stock Analysis Report

TRINA SOLAR LTD (
TSL

): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment
Research

Article source: http://articlefeeds.nasdaq.com/~r/nasdaq/categories/~3/7kKNWAocB1E/chinese-stocks-heat-up-voice-of-the-people.aspx

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