We recently downgraded our rating for the South Korean steelmaker, POSCO (NYSE:PKX), from Neutral to Underperform, primarily due to the company’s lackluster operating earnings guidance and concerns over rising raw material costs and increase in Chinese steel volume exports.
 
Second Quarter Highlights
 POSCO reported encouraging financial results for the second quarter of 2010, with net income increasing …

Despite intra-day retreat to 1.0488, as the greenback has risen again from there, adding credence to our bullish view that the correction from 1.0678 has possibly ended at 1.0276 last week and upside bias remains for gain towards said resistance but a sustained breach above key resistance at 1.0678/80 is

The Euro has had a significant bounce over the last 6 weeks. After bottoming out slightly below 1.20/U.S. dollar in early June, the Euro has bounced back close to 1.30 versus the greenback. Let’s navigate the circuitous path of this most important currency and assess where it may be headed from here. I am most …

USD/CAD’s break of 1.0580 suggests that rise from 1.0275 has resumed after brief consolidations and further rally should be seen to 1.0675 resistance first. As noted before, price actions from 1.0734 are viewed as sideway consolidation pattern, probably in form of triangle. Break of 1.0675 resistance will argue that such

JB Hunt’s (NASDAQ:JBHT) business improved throughout the second quarter, allowing the company to increase prices compared to the first quarter of 2010. This helped the company to report better-than-expected earnings for the second quarter.
Growth and Income
The company is expected to grow its earnings per share 39.2% in 2010, 30.6% in 2011, and 11.6% over the …

Euro is somewhat hit by risk aversion and retreat sharply after jumping initially to 1.3027 against dollar and fails to sustain above 1.30 level. EUR/JPY also bounces off from 113.40 resistance again. US housing starts fell more than expected to 549k in June, hitting the lowest level since last October.

ON Semiconductor (NASDAQ:ONNN) recently announced that it agreed to acquire Sanyo Electric Co.’s unprofitable semiconductor business in a cash-and-stock-deal valued at about $366 million. The company said the acquisition of Sanyo Semiconductor Co. will strengthen its presence in the automotive and consumer markets in the Asia Pacific region. The chipmaker, which competes with big names …