Market News
The Buckle (BKE)
The Buckle announced today that comparable store net sales, for
stores open at least one year, for the four-week period ended February 27, 2010 increased 5.1 percent
from comparable store net sales for the four-week period ended February 28, 2009. Net sales for the fourweek
fiscal month ended February 27, 2010 increased 9.7 percent to $69.4 million from net sales of $63.3
million for the prior year four-week fiscal month ended February 28, 2009.
The Buckle has grown nicely over the years in the center of the US. They are now expanding into the east and west coasts.
Mar 4 · 10:32:00 AM · Source: Company Press Release
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by Rich Pike
Unemployment
The U.S. Labor Department said today that in the week ending Feb. 27 the advance figure for seasonally adjusted initial claims was 469,000, a decrease of 29,000 from the previous week's revised figure of 498,000. The 4-week moving average was 470,750, a decrease of 3,500 from the previous week's revised average of 474,250.
This points to an improvement in the labor market that is slow to develop.
Mar 4 · 9:18:00 AM
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by Larry Etter
IBM (IBM)
IBM scientists have unveiled a significant step towards replacing electrical signals that communicate via copper wires between computer chips with tiny silicon circuits that communicate using pulses of light. his is an important advancement in changing the way computer chips talk to each other.
This is an important advancement in changing the way computer chips talk to each other.
Mar 4 · 9:11:00 AM · Source: Company Press Release
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by Larry Etter
Continental Airlines (CAL)
Continental Airlines (NYSE:CAL) will begin charging coach customers extra if they want a seat with more legroom, according to The Baltimore Sun. Starting March 17, coach customers will be able to pay the charge at check-in to get an exit-row seat with at least 7 inches more legroom than the other rows, Continental said Wednesday.
"Seats with additional legroom are higher-value seats, and we want to offer them to customers who recognize that value," said Jim Compton, Continental's executive vice president and chief marketing officer. As reported earlier in MarketBeast, airlines are now looking at any possible way to increase their revenue per flying passenger.
Mar 4 · 6:18:00 AM · Source: The Baltimore Sun
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by Steve Wieczorek
Southwest Airlines (LUV)
The stocks of many of the major carriers have nearly doubled in price since early November 2009. Similar to most industry groups, the airline stocks trade together. The best airline of the group is Southwest Airlines Co (NYSE:LUV), according to Inthemoneystocks.com.
Southwest Airlines Co is trading above its daily 20 and 50 moving averages, which signal that the trend is up and the stock has good support at $12.00. This company also has a slightly different business model from the legacy carriers in that they have only one type of aircraft that they fly. This factor in their business model has kept this airline profitable for many years as most of the others struggle to survive and make profits.
Mar 4 · 6:12:00 AM · Source: Inthemoneystocks.com
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by Steve Wieczorek
United Parcel Service (UPS)
Goldman Sachs initiates coverage on Air Freight with an Attractive coverage view and on Railroads and Trucking with Neutral coverage views, according to the streetinsider.com.
In Air Freight, the firm's top top pick is UPS (NYSE: UPS) and they are adding the stock to their Conviction Buy List with a $76 price target.
The firm said, "UPS offers the highest returns in the industry, has attractive international growth prospects, and faces relatively few significant regulatory headwinds." The firm rates FedEx (NYSE: FDX) Neutral.
Mar 4 · 6:06:00 AM · Source: StreetInsider.com
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by Steve Wieczorek
GASCO ENERGY INC (GSX)
Gasco Energy (NYSE Amex: GSX)
today announced that it has consummated its previously announced sale of its
Riverbend Project midstream assets to Monarch Natural Gas LLC, a portfolio
company of Metalmark Capital Partners, for cash consideration of $23 million.
Included in the transaction are substantially all of Gasco's Riverbend
Project midstream assets comprised of the Company's gathering system and
related pipeline and equipment and its two evaporation pits and related
equipment used for the disposal of produced water from wells operated in the
Riverbend area of Utah. The sale closed on February 26, 2010. J.P. Morgan
Securities acted as financial advisor to Gasco in connection with the sale.
Gasco believes it has substantially and materially improved its balance sheet with this deal. Per the terms of the sale, it will now begin providing certain operating services to Monarch for at least six months.
Mar 3 · 11:56:00 AM · Source: Company Press Release
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by Jeffrey Epstein
El Paso (EP)
El Paso Corporation (NYSE: EP) announces that its subsidiaries, Southern
LNG, Inc. and Elba Express Company, L.L.C., have placed in service two
significant projects, the expansion of the Elba Island LNG receiving
terminal near Savannah, Georgia and the new Elba Express Pipeline in
eastern Georgia, respectively.
"These two projects represent approximately $900 million of capital
investment in critical new natural gas infrastructure which will be used
to meet the needs of consumers and provide new sources of natural gas for
the growing southeastern and eastern U.S. markets," said Norman Holmes,
senior vice president and chief commercial officer for both Southern LNG
and Elba Express.
The company says it owns North America's
largest interstate natural gas pipeline system and one of North America's
largest independent natural gas producers.
Mar 3 · 11:49:00 AM · Source: Company Press Release
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by Jeffrey Epstein
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