NEW YORK, Feb. 13, 2012 /PRNewswire/ -- Commodities were higher in January, with many commodities reversing the slump seen in the second half for 2011.
Nelson Louie, Global Head of Commodities in Credit Suisse's Asset Management division, said, "After a tough second half for 2011, many commodities have reversed part of the slump over the past month. It is starting to look more likely that the global economy has been more resilient than many had expected and that some of the downside risks have decreased, which could be supportive for global commodity consumption in 2012. Fundamentals for key commodities remain positive and the commodity markets continue to be susceptible to global supply shocks. For example, ongoing tensions with Iran have led to US and EU sanctions. While the evolution of this process is unpredictable, the potential for a reduction in supply of Crude Oil is elevated."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added, "The Federal Reserve has confirmed once again it will maintain its extraordinarily loose monetary policy. Signs of an economic recovery in the US and abroad are starting to materialize. However, the US Central Bank will be in no hurry to raise rates and possibly choke the budding recovery. The odds of inflation overshooting expectations remain elevated, and commodities have historically tended to outperform during periods of higher than expected inflation. We believe investors will continue to benefit from the inflation protection and diversification potential of holding diversified commodities exposure within a portfolio of traditional assets."
The Dow Jones-UBS Commodity Index Total Return was up by 2.47% in January. Overall, 14 out of 20 index constituents increased in value. Precious Metals was the best performing sector, up 12.69%, with both Gold and Silver delivering double-digit returns after the Federal Reserve announcement. Industrial Metals increased, up 10.92% for the month, supported by an improved macro-economic backdrop and continued draws in London Metals Exchange warehouse inventories. Livestock also increased, up 2.30%, as Live Cattle benefited from tighter than expected inventory levels, and both Lean Hogs and Live Cattle continued to be supported by strong export demand. Agriculture was relatively unchanged, down 0.67%. The USDA's January Corn inventory estimates were much higher than the market anticipated. However, strong export sales helped lead to a recovery. The estimate for winter wheat seedings was higher than last year and also much higher than expected. A blast of cold weather in Europe caused concerns over crop damage, which also supported the complex late in the month, especially for Wheat. Energy ended the month down 3.47%, led by Natural Gas. However, petroleum products and Brent Oil posted positive returns following the announcement of the proposed EU embargo on oil imports from Iran. Petroleum demand continued to soften compared to last year, as unprecedented warm weather in the US and Europe weighed on heating related demand.
The Credit Suisse Total Commodity Return Strategy group periodically produces updates on relevant industry topics. For a copy of the team's white paper, "Commodities Outlook: Increased Volatility, Increase Opportunity?", please contact your Credit Suisse Relationship Manager.
About the Credit Suisse Total Commodity Return Strategy Credit Suisse's Total Commodity Return Strategy has been managed for 17 years and seeks to outperform the return of a commodities index, such as the Dow Jones–UBS Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
- Spot Return: price return on specified commodity futures contracts;
- Roll Yield: impact due to migration of futures positions from near to far contracts; and
- Collateral Yield: return earned on collateral for the futures.
As of January 31, 2012 the team managed approximately USD 10.6 billion in assets globally.
An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy. Investment in commodity markets may not be suitable for all investors. Commodity markets are highly volatile and the risk of loss in commodities and commodity-linked investments can be substantial.
Credit Suisse AGCredit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,700 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Asset Management In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
Important Legal InformationThis document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2012, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
SOURCE Credit Suisse AG
Powered by Service 800, New Tool Measures and Compares Customer Satisfaction and Service
ARLINGTON, Va.--(BUSINESS WIRE)-- The Consumer Electronics Association (CEA)® today launches CEA’s Service Excellence Benchmark, the only competitive measure in the Digital Imaging industry that can provide a confidential, independent view of customer satisfaction and service quality. This new member benefit will enable companies to evaluate their position in the marketplace by understanding their customers’ attitudes and impressions of their company.
Powered by SERVICE 800, CEA’s Service Excellence Benchmark uses actual service transaction interviews with customers to provide feedback data and tools for service improvement.
“The digital imaging industry is highly competitive, and a company’s customer service performance often determines brand loyalty,” said John Tunnell, vice president, member relations, CEA. “By offering this service to our digital imaging members, CEA hopes to provide them with a valuable tool they can use to advance their business and the industry as a whole.”
CEA’s Service Excellence Benchmark will be available to all companies in the digital imaging industry, with a discount for CEA members. For more information regarding CEA’s Service Excellence Benchmark, contact Melissa Matalon 703-907-7611, or mmatalon@CE.org.
About SERVICE 800
Founded in 1989, SERVICE 800 designs and administers real-time customer satisfaction measurement programs, helping service organizations follow up with customers within hours or days of service events. The company utilizes a distinctive follow-up telephone interview process, along with e-mail, web, and other follow-up techniques to measure customer satisfaction. With offices in Minneapolis and London, SERVICE 800 has been measuring customer satisfaction for corporations throughout the world for two decades. For more information, go to www.service800.com.
About CEA:
The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $195 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org, www.DeclareInnovation.com and through social media: https://www.facebook.com/#!/CEAfeed, http://twitter.com/ceafeed, http://blog.ce.org/.
UPCOMING EVENTS
- Digital Music Forum East February 22 - 23, 2012, New York, NY
- CEA Economic RetreatFebruary 28 - March 2, 2012, Vail, CO
- LA Games ConferenceApril 23 - 24, 2012, Los Angeles, CA
- CES on the HillApril 24, 2012, Washington, D.C.
- Digital Patriots DinnerApril 25, 2012, Washington, D.C.
- 2012 Spring Technology & Standards ForumMay 14 - 18, 2012, Dallas, TX
- Producers Guild of America’s Produced By ConferenceJune 8 - 10, 2012, Culver City, CA
- CE WeekJune 25 - 29, 2012, New York, NY
- CEA Line ShowsJune 27 - 28, 2012, New York, NY
- iStage CompetitionJune 2012, New York, NY
- 2012 SINOCESJuly 5 – 8, 2012, Qingdao, China
- CEA Industry ForumOctober 14 - 17, 2012, San Francisco, CA
- CEO Summit and Board RetreatOctober 17 - 19, 2012, CA
- CES New York Press Preview featuring CES Unveiled@NYNovember 12, 2012, New York, NY
- 2013 International CESJanuary 8 – 11, 2013, Las Vegas, NV
Consumer Electronics Association (CEA)Grace Ellis, 703-907-5292gellis@CE.orgwww.CE.orgorLaura Hubbard, 703-907-4326lhubbard@CE.org
Source: Consumer Electronics Association (CEA)
HANOVER, N.H.--(BUSINESS WIRE)-- Ledyard National Bank (NQB: LFGP) is pleased to announce that Dennis B. Mitchell, CFP® has been named President & Managing Director of Ledyard Financial Advisors, the wealth management division of the bank.
Dennis Mitchell, President & Managing Director of Ledyard Financial Advisors (Photo: Business Wire)
Dennis has over 28 years of wealth management experience, the previous 4 years at Ledyard Financial Advisors as the organization’s Senior Vice President & Business Development Officer. Prior to joining Ledyard, Dennis was the Senior Vice President for Sales & Marketing for Northern Trust’s New England market. His other positions at Northern Trust include Northwest Regional President based in Seattle, Washington as well as Northern California President based in San Francisco, California. He began his banking career at Peoples Heritage Bank in Portland, Maine before moving to Key Bank in Portland as their Trust & Investment Sales Manager.
Dennis stated, “I am thrilled to be leading the highly skilled team of wealth management professionals at Ledyard Financial Advisors. I am also very excited to work with the great people in the Upper Valley and Lake Sunapee Regions.”
Dennis received his B.S. in Business Administration from the University of Maine and his MBA from Husson College. He obtained his Certified Financial Planner designation in 1988.
“Dennis is remarkably talented and well respected by our clients, business partners and employees. Under his leadership, we will enhance our ability to provide valuable advice and effective solutions to our Financial Advisors clients,” said Kathy Underwood, President and CEO of Ledyard National Bank.
Dennis and his wife, Linda, are currently relocating from Lebanon, NH to Hanover, NH.
Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management services in the Dartmouth-Lake Sunapee Region. Ledyard National Bank has eight offices with locations in Hanover, Lebanon, Lyme, New London, and West Lebanon, New Hampshire and in Norwich, Vermont.
Ledyard Financial Group, Inc. shares can be bought and sold through the NASD sanctioned “OTC Markets” under the trading symbol LFGP. Shares may be traded through an individual’s broker. For more information, please refer to the “Investor Relations” section of the bank’s website at www.ledyardbank.com or contact the Company’s Chief Financial Officer, Gregory D. Steverson.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50166223&lang=en
Ledyard National BankCarrie A. Hamel, 603-640-2677Assistant Marketing Coordinatorcarrie.hamel@ledyardbank.com
Source: Ledyard National Bank
HAMILTON, BERMUDA -- (MARKET WIRE) -- 02/13/12 -- Teekay Corporation (Teekay or the Company) (NYSE: TK) plans to release its financial results for the fourth quarter and fiscal year 2011 before market open on Thursday, February 23, 2012.
The Company also plans to host a conference call on Thursday, February 23, 2012 at 11:00am (ET) to discuss the results for the fourth quarter and fiscal year 2011. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options:
-- By dialing (866) 322-8032 or (416) 640-3406, if outside North America,
and quoting conference ID code 9739413.
-- By accessing the webcast, which will be available on Teekay's website
www.teekay.com (the archive will remain on the website for a period of
30 days).
A supporting Fourth Quarter and Fiscal Year 2011 Earnings Results Presentation will also be available at www.teekay.com in advance of the conference call start time.
In addition to the webcast archive, the conference call with be recorded and available until Thursday, March 1, 2012. This recording can be accessed following the live call by dialing (888) 203-1112 or (647) 436-0148, if outside North America, and entering access code 9739413.
About Teekay
Teekay Corporation provides a comprehensive set of marine services to the world's leading oil and gas companies, helping them seamlessly link their upstream energy production to their downstream processing operations. Teekay is growing its operations in the offshore oil production, storage and transportation sector through its publicly-listed subsidiary, Teekay Offshore Partners L.P. (NYSE: TOO), continues to expand its significant presence in the liquefied natural gas shipping sector through its publicly-listed subsidiary, Teekay LNG Partners L.P. (NYSE: TGP), and seeks to grow its conventional tanker business through its public subsidiary, Teekay Tankers Ltd. (NYSE: TNK). With a fleet of approximately 150 vessels, offices in 16 countries and approximately 6,400 seagoing and shore-based employees, Teekay transports 10 percent of the world's seaborne oil and its reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company.
Teekay's common stock is listed on the New York Stock Exchange where it trades under the symbol "TK".
Contacts: Teekay Corporation Kent Alekson Investor Relations Enquiries +1 (604) 844-6654 www.teekay.com
Source: Teekay Corporation
Former Broadcom executives advance company’s focus on high volume optical applications
CARLSBAD, Calif.--(BUSINESS WIRE)-- Luxtera:
News Highlights:
- Luxtera names Joseph Balardeta as its vice president of engineering, previously holding senior technical management positions at AMCC and Broadcom.
- Luxtera announces Chris Bergey as the vice president of marketing. Bergey spent the last five years establishing and managing Broadcom’s WLAN combo business into one of Broadcom’s largest business lines.
- Ron Horan joins Luxtera as the vice president of sales. Ron was most recently a senior director of sales and global account manager for Broadcom.
Luxtera, the worldwide leader in Silicon CMOS Photonics, today announces the addition of three new executives to its management team. The new members include Joseph Balardeta, vice president of engineering; Ron Horan, vice president of sales and Chris Bergey, vice president of marketing.
Each new member of the Luxtera team has demonstrated considerable leadership in the semiconductor industry. Balardeta was most recently a founder of Uplay, LLC, which was acquired by Callaway Golf. He also held various engineering management roles at Broadcom and served as the vice president of engineering at AppliedMicro.
Bergey also joins Luxtera from Broadcom, where he was most recently a vice president of the Mobile and Wireless Group and gained significant experience with starting and managing product lines and marketing organizations through explosive growth. Prior to spending nine years at Broadcom, Bergey worked for Multilink Technology Corporation and Advanced Micro Devices.
Horan was most recently senior director and global account manager for Broadcom. Prior to joining Broadcom, Horan managed the platform engineering team at Advanced Micro Devices. Prior to that, he was a senior design engineer with Compaq Computer’s workstation team, where he drove high speed graphics and management solutions and was awarded 16 patents.
Quotes
“It is without question that Luxtera is an industry leader and I am excited to be a part of the next steps for the company. Silicon Photonics is poised to aide in the deployment of high performance optical connectivity and Luxtera’s proven processes make the worldwide commercialization of the technology a reality,” said Balardeta.
“The promise of Silicon Photonics has been discussed at length for many years, however like many technologies, it was the right idea before the industry and markets were ready,” said Bergey. “We are now rapidly approaching the inflection point where Silicon Photonics will often be the only viable solution to support the cost, size, density and reliability required by leading manufacturers of switches and servers. I am thrilled to have the opportunity to help lead Luxtera into this market transition.”
“Closing design wins and facilitating them to production has been a hallmark of my career,” said Horan. “I look forward to utilizing my breadth of experience to further position Luxtera as a leader in the market, bringing the reality of wide scale Silicon Photonic deployments worldwide.”
“I have personally worked with Joseph, Chris and Ron and I am confident they will make significant contributions towards the opportunity we see ahead in the optical applications market,” said Greg Young, president and CEO of Luxtera. “This is an exciting time for Luxtera and to bring on such marque leadership speaks to their views of the tremendous opportunities ahead for Luxtera.”
About Luxtera
Luxtera, Inc. is the world leader in Silicon CMOS Photonics. It is the first company to overcome the complex technical obstacles involved with integrating high performance optics directly with silicon electronics on a mainstream CMOS chip, bringing direct “fiber to the chip” connectivity to market. Headquartered in Carlsbad, California, Luxtera is a fabless semiconductor company that was founded in 2001 by a team of industry-renowned researchers and technology managers drawn from the communications and semiconductor industries. Luxtera has received funding from leading venture capitalists including August Capital, New Enterprise Associates, Sevin Rosen Funds and Lux Capital. More information can be found on the company's web site: www.luxtera.com
Vantage Communications for LuxteraKatie Lister, 407-767-0452 x229klister@pr-vantage.com
Source: Luxtera, Inc.
More Press Releases
View Older Stories-
Teekay Tankers Announces Fourth Quarter and Fiscal Year 2011 Earnings Results Conference Call
-
Former Top DOJ Attorney John Kelly Joins Bass, Berry & Sims PLC
-
Teekay LNG Partners L.P. Announces Fourth Quarter and Fiscal Year 2011 Earnings Results Conference Call
-
Midas Medici Engages MZ Group as Its Investor Relations Advisor
-
Teekay Offshore Partners Announces Fourth Quarter and Fiscal Year 2011 Earnings Results Conference Call
-
U.S. Concrete Announces Headquarters Relocation
-
Search Minerals files NI 43-101 compliant Technical Report on Foxtrot REE Project, Labrador
-
AeroGrow Reports Results for Three Months Ended December 31, 2011
-
Anchor Bay Entertainment and The Weinstein Company Present the Critically Acclaimed Film MY WEEK WITH MARILYN -- Starring Three-Time Oscar(R) Nominee Michelle Williams -- On Blu-Ray(TM) and DVD
-
International Paper Completes Acquisition of Temple-Inland
-
White Paper Details New Medical Device Polymer Biocompatibility Screening Test Using Zebrafish Embryos
-
William G. Bithoney, MD, Joins the Healthcare Business of Thomson Reuters
-
Earthstone Energy Reports 3rd Quarter Results
-
Consolidated Communications Announces Fourth Quarter and Year-End 2011 Earnings Call
-
Triangle Capital Corporation Closes Public Offering of Common Stock
-
Strategic American Oil Begins Water Injection in Its Illinois Waterflood Project
-
Sportlink Partners with Cardiology Group to Combat Sudden Cardiac Death in Students
-
Westgate Marketing Introduces Informational Web Site for Mastering the Web
-
One Year Later, School-based Eye Clinic Confirms Needed Service
-
Kentucky National Insurance Selects 4Sight Business Intelligence for Property & Casualty
-
Pervasip's CIO Mark Richards Exclusive Interview on Stock Traders Talk Radio Tonight
-
Aiseesoft Starts Spring Promotion - 25% Off Coupon Code for Wonderful Software
-
Media Opportunity During NASA Administrator Visit to Goddard
-
VTech Introduces Latest Toy Innovations, Branches Out with New Switch & Go Dinos
-
Celebrate George Washington's 280th Birthday at His Home, Mount Vernon!
-
Cloud Technology Partners (cloudTP) and Cloudscaling Team to Offer Customers a Full Service Solution for Building Highly Efficient, Globally Scalable Clouds
-
You Fill in the blankZ®! - Finally a Creative Toy That You Design From Start to Finish
-
CompTIA Strengthens Global Marketing and Communications Capabilities with Hiring of Ann Batko
-
CA Technologies Helps Secure 'Safe Shopping' System for Cal Credit Card Company
-
Correlsense Announces General Availability of SharePath Version 2.5
-
California Grapes International, Inc. OTC PINK “Current”
-
Autobytel Approves Stock Repurchase Program
-
Versar, Inc. Announces Second Quarter Fiscal 2012 Results
-
Energy Points Launches World’s First Universal Metric for Measuring Sustainability Across all Resources, Including Electricity, Transportation, Water, Gas, Waste and More
-
MEDecision: A New Day for Accountable Care at HIMSS 2012
-
IIROC; Resumption: Claymore Managed Futures ETF
-
Albuquerque Marks U-Swirl's 25th Location
-
Ascom Wireless Solutions: Off-site Accessibility and Improved Usability with the Enhanced Ascom Unite Platform
-
Ironwood Pharmaceuticals Announces Exercise of Over-Allotment Option in Public Offering of Common Stock
-
Media Advisory/REMINDER: Harper Government to Announce Support for Shipbuilding Industry
-
Comprehensive Care Corporation, Tampa, Florida, Offers New Pharmacy Management Initiative Designed to Reduce Prescription Drug Spending in California
-
LEGO Systems Builds on Year-Over-Year U.S. Sales Growth
-
Conversion of Olgovskoye License to 20-Year Production License Reported
-
Conversion of Olgovskoye License to 20-Year Production License Reported
-
Brookfield Renewable Announces 2011 Year-End Results
-
Brookfield Renewable Announces 2011 Year-End Results
-
TheraBiogen and ECAP Capital Launch Direct Response Marketing Program for Thera Max® Cold and Flu
-
FreeWave Technologies Pays 34th Consecutive Bonus to Employees
-
Hotel Prices in New Orleans Skyrocket for Mardi Gras, Survey Reveals
-
3D PDF Consortium to Hold Annual Meeting at Collaboration & Interoperability Congress
