Amdocs Limited (DOX) declared better-than-expected financial results for the fourth quarter of fiscal 2009. Total revenue of $707.4 million was down 14.3% year-over-year but well above the Zacks Consensus Estimate of $681 million. The company said its revenue from managed services business together with cable and satellite businesses have started to stabilize.   Quarterly net income on a GAAP basis was $85.8 million or 42 cents per share, compared to net income of $82.7 million or 38 cents per share in the prior-year quarter. However, fourth quarter adjusted (excluding special items) EPS was 49 cents, significantly above the Zacks Consensus Estimate of 45 cents. This was primarily due to a continuous effort taken by management to streamline the cost structure. Cost of sales in the reported quarter was $450.7 million, an improvement of 15.1% year-over-year. As a result, gross margin in the reported quarter was 37% compared ...

CME Group Inc.’s (CME) second quarter pro forma earnings of $3.37 per diluted share substantially topped our estimate as well as the consensus, primarily as a result of higher-than-expected quotation data fees and transaction fees on an increased average rate per contract. Expenses reduction initiatives also helped increase the bottom-line. GAAP net income for the quarter came in at $221.8 million or $3.33 per diluted share, up 11.3% sequentially but down 9.3% year-over-year on a per-share basis. During the quarter, the company had a reduction of $2.6 million in net income from merger-related charges. This impairment charge was the primary factor for reduced GAAP net income. Excluding one-time charges, we see pro forma earnings of $224.4 million or $3.37 per diluted share, up 5.5% sequentially but down 14.3% year-over-year on a per-share basis. Net revenue for the quarter increased 3.5% sequentially and 14.5% year-over-year to $633.0 million. Investment income ...

Going forward, as the utility continues to focus primarily on regulated utility operations, positive investment factors for PG&E (PCG) including favorable decisions from the CPUC and FERC such as a CPUC authorized 11.35% ROE until 2010, long-term supply agreements, diversification into alternative power sources and infrastructure improvement programs such as the Cornerstone-Smart Meter-Tesla generating station, long-term supply agreements, diversification into alternative power sources and an increased dividend may be partially offset by risks including rising natural gas prices, increased purchased power costs, earnings dilutive stock issuances, and an over-leveraged balance sheet.PG&E reported financial results for the 1st quarter and year ended March 31, 2009. In the reported quarter, GAAP net income after dividends on preferred stock was $241 million, or $0.65 per share, up from the same period last year when net income after dividends on preferred stock was $224 million, or $0.62 per ...

Going forward, American Electric Power (AEP) offers investors stable underlying core utility earnings, although with only modest growth potential. Consistent performance in the residential segment, new 765-kV transmission lines at PJM -- its joint venture with Duke Energy (DUK) -- and favorable approval of rate changes from the PUCO and PUCT, represent a mildly bullish outlook for the stock.However, pruned expansion plans on account of tightening credit markets, high debt level, escalating coal costs, lower off-system and industrial sales, and uncertainty surrounding pending regulatory cases collectively continue to weigh on the stock.Q1'09 Results:American Electric Power reported disappointing 1st quarter 2009 GAAP earnings of $360 million, or $0.89 per share, down over 37% from $573 million, or $1.43 per share, for the year-ago quarter.Likewise, disappointing operating earnings for the reported quarter were also $360 million, or $0.89 per share, down ...

Northrop Grumman: Best Offense a Good DefenseNorthrop Grumman (NOC) is a margin-upside and cash redeployment story, in our view. During 2008, total order backlog reached a company record of $78 billion. This lays a great foundation for future organic growth.The company -- with an order backlog of $76.9 billion after the end of the 1st quarter of fiscal 2009 -- offers a diversified program portfolio mix, continued improvement in sales and earnings, an improving balance sheet and an ongoing share repurchase program.In the short-term, performance will be affected by higher FAS/CAS exposure and the Departement of Defense's [DoD] deferral of the tanker bid. However, this defense contractor remains well-positioned for solid defense spending on network-centric/intel initiatives and continues to make progress toward high priority integrated system design and solutions. The high value postal service contract will further help diversify the company away ...

Optimistic about Energy Conversion Devices We remain optimistic about Energy Conversion Devices' (ENER) long-term potential success in the high growth alternative energy industry, given increased activity in solar power projects, federal incentives, and extension of the federal ITC.Looking forward, the story will continue with a geographically diversified sales pipeline, reducing cost per watt, declining polysilicon prices, committed supply agreements and improving material costs through expansion of its supplier base. Although in the near-term, a dilapidated market led to under-utilization of capacity and affected margins, forcing the company to suspend its expansion plans.Note the stock's high volatility pending the sale of its Cobasys joint venture, tightening credit markets and high pre-production costs. These collectively show moderate-to-high returns -- with high risk. Accordingly, we maintain a speculative BUY recommendation on ENER common stock with a six-month target price of $18.50, representing 11.4%% upside potential....

I've gotten a few questions from readers and colleagues about what sources I turn to for information about the markets, exchange-traded funds and related topics.

The list is long and varied, and ebbs and flows over time. But here are some of the sources (public, private and otherwise) that I turn to in my day-to-day reading. I'm sure I'm leaving out quite a few sites, but this at least is a partial list.

NATIONAL PUBLICATIONS

IndexUniverse.com and IndexUniverse.eu: It goes without saying that IndexUniverse.com and IndexUniverse.eu are the best sites on the Web for information about ETFs and how they are used in portfolios.

IndexUniverse.com

IndexUniverse.eu

Slate/The Big Money: Those two Web sites aside, I start my day at Slate.com, and its sister finance site The Big Money. I find the daily news summary (and weekly magazine summaries) the best meta-journalism on the Web. They offer

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Stock Indexed Annuities: A Powerful Investment For Getting Back to Even

by Dr. Mark Skousen, Advisory Panelist, Investment U Friday, December 04, 2008: Issue #896

How long does it take your portfolio to recover after a devastating bear market?

It took a little over a year to get even after the stock market crash of October 19, 1987, over four years to get back your money after the treacherous 2000 to 2003 bear market, and more than five years after the 1973 to 1974 debacle. This time around, with the Dow down 40% from its high of a year ago, it may take three to four years to get back to even. Ouch! If you are waiting for the new administration to bring you back to even, you may have a long wait.

But there’s a way to avoid this entire “catch up” worry: Buy stock indexed annuities. I

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Here is the Treasury Bailout plan, with our comments interspersed:

Section 1. Short Title.

This Act may be cited as ____________________.

Sec. 2. Purchases of Mortgage-Related Assets.

(a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.

Comment: This has since been expanded to "any institution doing substantial business in the U.S."  In other words, we could be bailing out just about every major financial institution in the world.

(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:

Comment: Can we say "raw power grab"? We developed a Constitution with checks and balances.

(1) appointing such employees as may be required to carry

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Besides “Drip In Money” strategy as the key to investment discipline, the other important aspect of investing is to control the emotions that comes bundled with it, like it or not.

Rebalancing your portfolio is as simple as managing your “emotions” in the up and down cycles of the market. In fact, investing needs to be boring. And by boring, I mean a rationalized range of value that is not too high, yet not too low. Rationalization also means certain rules are in place.

Below is an example of portfolio rebalancing with the following vital stats:
a) portfolio starting point is a 50% : 50% (Equity:Bonds) allocation
b) trigger point of rebalancing: whenever deviation of the two funds is 5% or more.

In contrast, another “Buy aNd Hold” portfolio of the same 50% : 50% (Equity:Bonds) allocation at …