By Felix Pinhasov:
The Royal Bank of Canada (RY) is the biggest of the Canadian banks, with international operations ranging from retail and commercial banking to wealth management.The bank is reporting this Thursday, March 1, 2012, for the quarter ending January 31, 2012, and is expected to earn $1.10 per share, according to consensus estimates.
Although seasonal analysis should not be a deciding factor in making an investment, I find it a good tool that can be utilized to time an entrance or an exit point. As the chart below illustrates, the period of seasonal strength for the bank begins in late February and continues to mid-June. The move coincides with the bank’s earnings and announcements regarding dividend increases.
So far, 2012 seems to be exhibiting historical patterns, up a bit more than 4 percent as of February 23, 2012. That increase is more than the historical average of about 3 percent for
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Beaten-down Travelzoo (TZOO +1.7%) edges higher after finally rolling out a mobile site, and also publishing an Android app. The travel and local deals provider has already seen high purchasing activity rates for its iPhone app. 
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A counterweight to dovish Adam Posen, the BOE’s Martin Weale hits the tape, saying rate hikes may come sooner than the market expects and there may be a case for no more QE in May. Sterling remains as is, +0.2% at $1.5936. 
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Deutsche Bank is taking a more defensive stance on oil-levered stocks due to valuation concerns and its weaker outlook for crude oil. The firm cuts Oasis Petroleum (OAS -3.9%), Marathon Oil (MRO -2.9%), Murphy Oil (MUR -0.8%) and Canadian Natural (CNQ -1%) all to Hold. 
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Wi-Fi networking equipment sales rose 14% Y/Y in Q4, estimates Dell’Oro. CSCO is believed to have a majority of the lucrative enterprise market, and is followed by ARUN and HPQ. It’s also noted that shipments to service providers rose 170% Y/Y (indirectly a positive for WIFI) and BelAir Networks, recently acquired by ERIC, is the leading provider of outdoor “mesh” Wi-Fi gear. (Q3 data) 
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A tweet from Blackrock attributed to Larry Fink reads ominously, “a broad crisis of confidence is paralyzing our ability to make long-term decisions.” Just one question: Is that the U.S. that’s incapacitated or the portfolio managers at Blackrock? 
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The BOE has considered expanding its QE program by buying assets other than U.K. debt, says member Adam Posen (an American and leader of the dovish faction). Current policy prevents such purchases, but Posen expects it could be quickly altered if conditions warrant. 
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Federal Reserve Chairman Ben Bernanke headed to Capitol Hill Wednesday to give Congress his semi-annual report on the economy, and what he had to say wasn’t exactly rosy.
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Economic growth was stronger than originally thought at the end of 2011 as consumers increased their spending and businesses invested in equipment and software.
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Assured Guaranty Ltd. (AGO)
Q4 2011 Earnings Conference Call
February 29, 2012 7:30 AM ET
Executives
Robert Tucker – Managing Director of Investor Relations and Corporate Communications
Dominic Frederico – President & Chief Executive Officer
Rob Bailenson – Chief Financial Officer
Analysts
Mark Palmer – BTIG
Brian Meredith – UBS
Geoffrey Dunn – Dowling & Partners
Larry Vitale – Moore Capital
Matthew Howlett – Macquarie
Shobha Frey – Putnam Investments
Andrew Kleinberg – Glickenhaus
Presentation
Operator
Good morning and welcome to the Assured Guaranty Limited fourth quarter 2011 earnings conference call and webcast. All participants will be in listen-only mode. (Operator instructions) After today’s presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to Mr. Robert Tucker, Managing Director of Investor Relations and Corporate Communications. Mr. Tucker, please go ahead.
Robert Tucker
Thank you.
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