Chipotle (CMG) was upgraded by Bank of America/Merrill Lynch (BAC) to buy from neutral with a price target of $320, as the current price providesinvestors with an attractive entry point after the share price has fallen 40% from its peak. Shares are higher by about 3.7 percent.
Babylon, a global provider of translation software solutions and Internet search services, announced that it has filed a registration statement with the SEC for aproposed IPO of its ordinary shares in the United States. The size of the offering has not yet been determined.
Earnings beat expectations for the German carmaker, rising 14 percent, but BMW’s boss says it’s facing competition from low interest financing deals. Joanne Nicholson reports
As Europe struggles to keep its finances in order, America’s election result could determine whether the bloc will be set back even further. Joanne Nicholson reports
Time Warner Cable (TWC) announced on Monday that profit and sales for the third quarter missed expectations due to fewer video subscribers, as well as lower growth in broadband. Earnings increased by 27% versus the same period last year to $1.41 per share, while revenue increased by 9.2% to $5.36 billion.
The Daily Ticker’s Aaron Task talks with Lindsay Sakraida.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
In trading on Monday, music & electronics stores shares were relative leaders, up on the day by about 2.5%. Leading the group were shares of Hhgregg (HGG), up about 5.8% and shares of Radioshack (RSH) up about 1.8% on the day.
The first trading day of the trading week will have investors closely monitoring the US Presidential Elections on Tuesday, as they begin to ponder the effects of Hurricane Sandy on the economy in the coming months as cities on the East Coast limp their way into the first full work week after the storm. Good morning, this is Sayoko Murase with the Week Ahead Market Report for November 5, 2012.
By CountingPips.com
The latest Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that large futures speculators decreased their overall US dollar short positions last week for a second consecutive week as Japanese Yen positions fell further into bearish territory against the American currency.
Non-commercial large futures traders, including hedge funds and large speculators, cut their total US dollar short position to a total of $708.072 million on October 30th from a total short position of $4.004 billion on October 23rd, according to the CFTC COT data and calculations by Reuters which calculates the dollar positions against the euro, British pound, Japanese yen, Australian dollar, Canadian dollar and the Swiss franc. This is the lowest short position for dollar speculators since September.
Individual Currencies:
EuroFX: Currency speculator sentiment for the euro dipped slightly last week for a second consecutive week. Euro net short positions or bets against the currency edged higher to 58,204 contracts on October 30th from the previous week’s total of 55,219 net short contracts on October 23rd. Euro positions continue to stay close to their best standing for the year which was reached on September 25th when short positions totaled 50,238 contracts.
The COT report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity.
Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.
(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)
GBP: British pound sterling positions rebounded last week following declines for three straight weeks. British pound sterling speculative positions rose to a total of 23,403 net long contracts on October 30th following a total of 18,397 net long contracts on October 23rd. British pound positions, on October 2nd, had reached their highest 2012 level and best level since May 3, 2011 when long positions numbered 30,807 contracts.
JPY: Japanese yen speculative contracts dropped sharply once again last week to fall further in a short position and declined for a fourth straight week. Japanese yen positions decreased to a total of 37,020 net short contracts reported on October 30th following a total of 18,196 net short contracts on October 23rd. The decline in Yen positions puts the Yen in the deepest short territory since May 8, 2012 when short positions totaled 41,093 contracts.
CHF: Swiss franc speculator positions were virtually unchanged last week to keep the franc at a long position against the dollar. Speculator positions for the Swiss currency futures registered a total of 2,366 net long contracts on October 30th following a total of 2,361 net long contracts as of October 23rd. Franc contracts are virtually still at their best positioning against the US dollar since November 7th 2011 when long positions equaled 2,162 contracts.
CAD: Canadian dollar positions decreased for a sixth consecutive week after reaching a 2012 high level on September 18th. Canadian dollar positions decreased to a total of 78,771 net long contracts as of October 30th following a total of 89,088 net long contracts that were reported for October 23rd. Before falling the last six weeks, Canadian dollar positions had streaked higher for eight consecutive weeks and reached the highest level in over two years on September 18th.
AUD: The Australian dollar positions rose last week for a second straight week after Aussie positions had fallen lower for three consecutive weeks. Aussie speculative futures positions rose to a total net amount of 52,090 long contracts on October 30th after totaling 45,651 net long contracts as of October 23rd. Australian dollar positions, on September 25th, reached their 2012 high level when long positions equaled 86,882 contracts.
NZD: New Zealand dollar speculator positions were very little changed last week for a third consecutive week. NZD contracts edged slightly higher to a total of 16,745 net long contracts as of October 30th following a total of 16,349 net long contracts on October 23rd. Kiwi contracts, on October 2nd, were at their highest level since February 27th when positions totaled 22,114 long contracts before dipping lower.
MXN: Mexican peso speculative contracts declined slightly last week to fall for a third straight week. Peso positions decreased to a total of 126,009 net long speculative positions as of October 23rd following a total of 132,402 long contracts that were reported for October 16th. Peso contracts have continued to be over 100,000 long positions for eight straight weeks and are just slightly lower than their highest level in over two years that was reached on September 25th at 141,256 long contracts.
Article by CountingPips.com
