Well, instead of making a comeback, stocks sold off hard in the last hour to close at the lows of the day:
Dow -276
Nas 52
S&P -31
Blame more political uncertainty in Europe yet again. Even with today's performance, October was a good one for stocks. Let's hope we have seen the lows for the year.
Monday, October 31, 2011
Stocks reporting after the bell today...
Here are a few that we follow, reporting tonight after the close:
Avalon Bay (AVB)
Herbalife (HLF)
Allstate (ALL)
Anadarko Petroleum (APC)
Avalon Bay (AVB)
Herbalife (HLF)
Allstate (ALL)
Anadarko Petroleum (APC)
There are some gainers...
Here are a few stocks that are bucking the trend today:
Polypore Int'l (PPO) +1.05 to 53.65
Dollar Tree (DLTR) +1.59 to 80.46
Apple (AAPL) +2.07 to 407.04
Family Dollar (FDO) +1.07 to 59.09
Perrigo (PRGO) +1.06 to 91.00
Intuitive Surgical (ISRG) +2.32 to 438.85
Hansen Natural (HANS) +3.02 to 89.74
Polypore Int'l (PPO) +1.05 to 53.65
Dollar Tree (DLTR) +1.59 to 80.46
Apple (AAPL) +2.07 to 407.04
Family Dollar (FDO) +1.07 to 59.09
Perrigo (PRGO) +1.06 to 91.00
Intuitive Surgical (ISRG) +2.32 to 438.85
Hansen Natural (HANS) +3.02 to 89.74
At 2:40 pm...
More of the same. Only groups moving higher are Utilities and REIT's...in other words traders are moving into the high dividend payers.
Dow -165
Nas -31
S&P -18
Dow -165
Nas -31
S&P -18
At 1:00 pm...
Stocks having a rough day.
Dow -181
Nas -33
S&P -19
I don't think it is as bad as it looks. I think we still have a chance to rally this afternoon.
Dow -181
Nas -33
S&P -19
I don't think it is as bad as it looks. I think we still have a chance to rally this afternoon.
Apple selling out of iPhone 4S...
Apple (AAPL) is outperforming after R.W. Baird says its checks show Best Buy (BBY) is sold out of the iPhone 4S at "the vast majority" of locations. In addition, UBS is joining in on speculation that China Telecom (CHA), which added 9M subscribers in Q3, will soon offer the iPhone for its EV-DO 3G network.
Wells Fargo and Bank of America rethink $5 Debit Card Fee...
Wells Fargo (WFC) cancels a proposed $3 debit-card fee, following a bigger-than-expected backlash from consumers over the charges big banks tried to tag consumers with after the Durbin Amendment limited debit card swipe fees. Waiting in the wings: BofA (BAC) rumored to be mulling over its own unpopular $5 monthly fee.
Oppenheimer likes Cisco...
Oppenheimer is making a bullish call on Cisco (CSCO), claiming its checks suggest the company will meet FQ1 estimates (results due next Wednesday) and "build momentum" for FQ2. Meanwhile, RBC is upgrading rival Juniper (JNPR) to Outperform, echoing Morgan Keegan's call that new products will drive growth.
Cisco's chart is not looking to bad these days:
Cisco's chart is not looking to bad these days:
At 10:30 am...
Stocks are selling off. Looks like traders decided to sell the futures last night, and so far that is carrying over to today's action. Something tells me that we may get some buying as the day wears on. Let's see what happens.
Right now:
Dow -148
Nas -33
S&P -17 to 1267
Right now:
Dow -148
Nas -33
S&P -17 to 1267
Today's Upgrades and Downgrades...
These are some of Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.
Aetna Inc. (NYSE: AET) Raised to Conviction Buy List at Goldman Sachs.
AMERIGROUP Corporation (NYSE: AGP) Raised to Buy at Goldman Sachs.
Eni SpA (NYSE: E) Raised to Buy at S&P.
JB Hunt Transport Services Inc. (NASDAQ: JBHT) Cut to Hold at Stifel Nicolaus.
Juniper Networks, Inc. (NYSE: JNPR) Raised to Outperform at RBC.
The Kroger Co. (NYSE: KR) Started as Neutral at JPMorgan.
News Corp. (NASDAQ: NWSA) Started as Neutral at UBS.
RPC, Inc. (NYSE: RES) Raised to Buy at Canaccord Genuity.
Safeway Inc. (NYSE: SWY) Started as Neutral at JPMorgan.
Salesforce.com (NYSE: CRM) Cut to Equal-weight at Global Equities Research.
SanDisk Corporation (NASDAQ: SNDK) Cut to Neutral at Stern Agee; named value stock of the day at Zacks.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) Cut to Neutral at Credit Suisse.
TMS International Corp. (NYSE: TMS) Started as Outperform with $11 target at Credit Suisse.
Vodafone Group Plc (NYSE: VOD) Cut to Underperform as Bear of the Day at Zacks.
Watson Pharmaceuticals, Inc. (NYSE: WPI) named as Bull of the Day at Zacks.
Weyerhaeuser Co. (NYSE: WY) Raised to Hold at Deutsche Bank.
Whole Foods Market Inc. (NASDAQ: WFM) Started as Neutral at JPMorgan.
Aetna Inc. (NYSE: AET) Raised to Conviction Buy List at Goldman Sachs.
AMERIGROUP Corporation (NYSE: AGP) Raised to Buy at Goldman Sachs.
Eni SpA (NYSE: E) Raised to Buy at S&P.
JB Hunt Transport Services Inc. (NASDAQ: JBHT) Cut to Hold at Stifel Nicolaus.
Juniper Networks, Inc. (NYSE: JNPR) Raised to Outperform at RBC.
The Kroger Co. (NYSE: KR) Started as Neutral at JPMorgan.
News Corp. (NASDAQ: NWSA) Started as Neutral at UBS.
RPC, Inc. (NYSE: RES) Raised to Buy at Canaccord Genuity.
Safeway Inc. (NYSE: SWY) Started as Neutral at JPMorgan.
Salesforce.com (NYSE: CRM) Cut to Equal-weight at Global Equities Research.
SanDisk Corporation (NASDAQ: SNDK) Cut to Neutral at Stern Agee; named value stock of the day at Zacks.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) Cut to Neutral at Credit Suisse.
TMS International Corp. (NYSE: TMS) Started as Outperform with $11 target at Credit Suisse.
Vodafone Group Plc (NYSE: VOD) Cut to Underperform as Bear of the Day at Zacks.
Watson Pharmaceuticals, Inc. (NYSE: WPI) named as Bull of the Day at Zacks.
Weyerhaeuser Co. (NYSE: WY) Raised to Hold at Deutsche Bank.
Whole Foods Market Inc. (NASDAQ: WFM) Started as Neutral at JPMorgan.
Some decent news from Netflix...
Netflix Inc. (NFLX). The company said it has extended its license agreement with ABC Television Group, a division of Walt Disney Co (DIS), to continue to stream TV shows over the Internet. With the extension of the existing license agreement, Netflix will also add new TV show episodes from ABC Studios, Disney Channel and the ABC Family to its existing library, it said in a statement.
Loew's Corp. misses earnings...
Loews Corp. (L). The company posted third-quarter earnings below analysts' expectations, hurt by higher catastrophe losses and lower revenue at its biggest holding CNA Financial (CNA). Net income attributable to Loews rose to $162 million, or 40 cents per share, from $36 million, or 9 cents per share, a year ago.
L is currently down 0.94 to 40.37
L is currently down 0.94 to 40.37
Stocks open lower...
Stocks are opening lower on creeping doubts about the European debt crisis solution.
Wall Street is on track to post some impressive October numbers as today is the month's final trading day.
At this point, the Dow is poised to post its best monthly point gain on record and its best monthly percentage gain since January 1987.
The S&P 500 is on track for its second best monthly gain ever, trailing only October 1974.
Wall Street is on track to post some impressive October numbers as today is the month's final trading day.
At this point, the Dow is poised to post its best monthly point gain on record and its best monthly percentage gain since January 1987.
The S&P 500 is on track for its second best monthly gain ever, trailing only October 1974.
Sunday, October 30, 2011
Update on our Stars 20 Portfolio....
It has been a pretty decent October for stocks, Our Stars 20 Portfolio is up 12.22% since October 1.
Top Performers:
Wellcare (WCG) +30.04%
Under Armour (UA) +29.94%
Panera Bread (PNRA) +28.88%
Biogen Idec (BIIB) +27.45%
Deckers (DECK) +26.30%
Lulumon (LULU) +19.00%
Other Gainers:
Starbucks (SBUX) +13.97%
Nike (NKE) +13.14%
Whole Foods (WFM) +12.77%
Chipotle (CMG) +12.69%
Visa (V) +10.94%
Ulta Salon & Cosmetics (ULTA) +8.52%
McDonalds (MCD) +6.23%
Apple (AAPL) +6.20%
Alexion Pharmaceuticals (ALXN) +6.04%
IBM (IBM) +4.14%
Dominion Resources (D) +1.18%
Amazon.com (AMZN) +0.50%
Just two Losers:
Cerner (CERN) -4.99%
Perrigo (PRGO -7.38%
Top Performers:
Wellcare (WCG) +30.04%
Under Armour (UA) +29.94%
Panera Bread (PNRA) +28.88%
Biogen Idec (BIIB) +27.45%
Deckers (DECK) +26.30%
Lulumon (LULU) +19.00%
Other Gainers:
Starbucks (SBUX) +13.97%
Nike (NKE) +13.14%
Whole Foods (WFM) +12.77%
Chipotle (CMG) +12.69%
Visa (V) +10.94%
Ulta Salon & Cosmetics (ULTA) +8.52%
McDonalds (MCD) +6.23%
Apple (AAPL) +6.20%
Alexion Pharmaceuticals (ALXN) +6.04%
IBM (IBM) +4.14%
Dominion Resources (D) +1.18%
Amazon.com (AMZN) +0.50%
Just two Losers:
Cerner (CERN) -4.99%
Perrigo (PRGO -7.38%
Friday, October 28, 2011
Stocks close mixed...
Stocks closed a wild week with a quiet ending, as the Dow eked out a gain to cap its fifth straight winning week. The day started on a down note, as soaring Italian bond yields reminded that the eurozone debt crisis is hardly over. The euro gave back a bit of yesterday’s gains, and Treasurys recouped some of their big drop. NYSE losers outnumbered gainers seven to six.
Oils, medical, and gaming stocks led the way.
Dow +22 to 12231
Nas -1 to 2737
S&P unch at 1285
Have a great chilly weekend!!! I'll try to post some charts if I get the chance.
Oils, medical, and gaming stocks led the way.
Dow +22 to 12231
Nas -1 to 2737
S&P unch at 1285
Have a great chilly weekend!!! I'll try to post some charts if I get the chance.
This is too funny...
An ironic footnote to the SEC's punishment of FINRA over document-altering: The current head of the SEC - Mary Schapiro - led FINRA at the time of the alleged transgressions. A SEC spokesperson says Schapiro wasn't involved in the enforcement action.
Time to buy Express Scripts....
Here is discussion on video from the Street.com:
http://www.thestreet.com/_yahoo/video/11291743/with-or-without-medco-express-scripts-looks-good.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1245644289001
http://www.thestreet.com/_yahoo/video/11291743/with-or-without-medco-express-scripts-looks-good.html?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1245644289001
Green Mountain to build plant in Virginia...
Green Mountain Coffee Roasters, Inc. (GMCR), a leader in specialty coffee and coffeemakers, today announced it has chosen Isle of Wight County, Virginia as the future home of a new manufacturing and distribution facility. The Company has agreed to purchase a 330,000 square foot building on a 64 acre parcel of land in Isle of Wight County, Virginia for $15 million, with plans to invest up to $180 million over the initial five years of the facility’s operations. Pending completion of its due diligence and finalization of incentive award agreements with the Commonwealth of Virginia and Isle of Wight County, GMCR expects to consummate the purchase in December 2011.
The Isle of Wight production facility will house coffee roasting, grinding, flavoring and packaging for GMCR’s Specialty Coffee business unit. Within five years, it’s estimated the new facility will have as many as 800 employees. GMCR has actively started to recruit for the new facility with commencement of site fit-up work planned for December 2011, pending final site due diligence.
Meanwhile Green Mountain's chart has been looking like a Red Mountain of late:
The Isle of Wight production facility will house coffee roasting, grinding, flavoring and packaging for GMCR’s Specialty Coffee business unit. Within five years, it’s estimated the new facility will have as many as 800 employees. GMCR has actively started to recruit for the new facility with commencement of site fit-up work planned for December 2011, pending final site due diligence.
Meanwhile Green Mountain's chart has been looking like a Red Mountain of late:
Stamps.com breaks higher...
Stamps.com (STMP) skyrockets $6.18 to a new high of $32.11 after reporting Q3 revenue of $25.9M (+20% Y/Y) and EPS of $0.37, beating consensus by $1.4M and $0.08. The company is lifting its 2011 revenue guidance range by $2.5M, to $92.5M-$102.5M, and its EPS range by $0.10, to $1.20-$1.40.
Stamps.com is up 139% YTD, partly thanks to the USPS' rate hikes and cost cuts.
Stamps.com is up 139% YTD, partly thanks to the USPS' rate hikes and cost cuts.
Nu Skin continues its run...
Nu Skin Enterprises (NUS) is edging up to a new high and is on pace for its seventh straight daily gain. All six prior gains have come in above-average volume, which points to professional buying. Nu Skin Enterprises cleared a flat base in July and has since tested its 10-week line a couple of times.
NUS is up 0.64 to 50.22
NUS is up 0.64 to 50.22
Biogen breaks out to new highs...
Biotech firm Biogen Idec beat third-quarter expectations on both the top and bottom lines Friday, but it declined to raise its already conservative guidance.
Biogen (BIIB) reported revenue of $1.31 billion, up 11% from the year-ago quarter. Earnings per share rose 19% to $1.61. Analysts polled by Thomson Reuters, on average, had expected sales of $1.26 billion and profit of $1.51 a share.
Higher-than-expected sales of Biogen's two leading drugs, Avonex and Tysabri, drove the results. Both of them treat multiple sclerosis, and together they account for more than half of the company's revenue.
Biogen's full-year guidance was the same as last quarter, except it refined its sales-growth estimate from "low to midsingle digits" to simply "midsingle digits." Profit guidance, however, appears to be very conservative compared with what analysts expect; EPS is forecast "above $5.70" while analysts' consensus is $5.88.
Shares are up 2% in mid-day trading, enough for another all-time high after the stock was hoisted aloft three days ago by good trial results on Biogen's next MS drug, BG-12. That product, which unlike the previous drugs is taken orally, has had analysts seeing blockbuster potential.
"Overall a solid quarter that could push the stock modestly up today — however, clearly investor focus here is not on 2011 financial results," analyst Mark Schoenebaum of ISI Group wrote in an email before the open.
On a conference call with analysts, CEO George Scangos said Biogen plans to file for official FDA approval of BG-12 in the first half of next year.
Biogen (BIIB) reported revenue of $1.31 billion, up 11% from the year-ago quarter. Earnings per share rose 19% to $1.61. Analysts polled by Thomson Reuters, on average, had expected sales of $1.26 billion and profit of $1.51 a share.
Higher-than-expected sales of Biogen's two leading drugs, Avonex and Tysabri, drove the results. Both of them treat multiple sclerosis, and together they account for more than half of the company's revenue.
Biogen's full-year guidance was the same as last quarter, except it refined its sales-growth estimate from "low to midsingle digits" to simply "midsingle digits." Profit guidance, however, appears to be very conservative compared with what analysts expect; EPS is forecast "above $5.70" while analysts' consensus is $5.88.
Shares are up 2% in mid-day trading, enough for another all-time high after the stock was hoisted aloft three days ago by good trial results on Biogen's next MS drug, BG-12. That product, which unlike the previous drugs is taken orally, has had analysts seeing blockbuster potential.
"Overall a solid quarter that could push the stock modestly up today — however, clearly investor focus here is not on 2011 financial results," analyst Mark Schoenebaum of ISI Group wrote in an email before the open.
On a conference call with analysts, CEO George Scangos said Biogen plans to file for official FDA approval of BG-12 in the first half of next year.
Las Vegas Sands sees clear sailing...
Las Vegas Sands (LVS) CEO Sandy Alderson says on an earnings conference call it's all systems go for forward revenue momentum in U.S., Singapore, and Macau markets. "We see absolutely no reason, again, no catalyst at hand, which would change the upward trend we have been experiencing." Shares are up 8.5% after the company released its Q3 report.
Not necessarily the guy you want to listen to. He has been wrong countless times before.
Not necessarily the guy you want to listen to. He has been wrong countless times before.
Have housing prices bottomed???
Results from some home builders seem to indicate that the industry may be hitting a bottom. Pulte (PHM) and Ryland (RYL) reported narrower quarterly losses from a year earlier, while Meritage (MTH) swung to a quarterly loss from the prior year's profit. Plus new home sales jumped 5.7% last month. "Better days are ahead," Ryland CEO Larry Nicholson believes.
Deckers hits new highs...
Deckers (DECK +9%) makes a new 52-week high after posting a strong Q3 report. The company, which is seeing booming sales of its UGG boots and aggressively expanding into Europe, expects Q4 revenue to grow 29% Y/Y, above prior guidance of 22%.
Deckers owns the UGGS brand as well as a few other popular European brands.
Deckers owns the UGGS brand as well as a few other popular European brands.
Today's Upgrades and Downgrades...
These are some of this Friday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this morning.
Advanced Micro Devices, Inc. (NYSE: AMD) Raised to Outperform at Wells Fargo.
ExxonMobil Corporation (NYSE: XOM) reiterated Buy with $100 target at Argus.
First Solar Inc. (NASDAQ: FSLR) Maintained Buy but cut target to $90 at Argus.
Gardner Denver, Inc. (NYSE: GDI) named Value Stock of the Day at Zacks.
j2 Global Communications (NASDAQ: JCOM) Raised to Outperform as Bull of the Day at Zacks.
McDermott International Inc. (NYSE: MDR) Cut to Market Perform at William Blair.
Occidental Petroleum (NYSE: OXY) Raised to Outperform and $135 target at Credit Suisse.
Pan American Silver Corp. (NASDAQ: PAAS) Cut to Sector Perform at CIBC.
Plexus Corporation (NASDAQ: PLXS) named Bear of the Day at Zacks.
Potash Corp. of Saskatchewan (NYSE: POT) Cut to Sector Perform at Scotia (late-Thursday).
Spectrum Brands Inc. (NYSE: SPB) Started as Outperform with $35 target at Credit Suisse.
Sprint Nextel Corporation (NYSE: S) Raised to Outperform at Macquarie.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) Raised to Buy at BNP Paribas.
Virgin Media, Inc. (NASDAQ: VMED) Cut to Equal-weight at Morgan Stanley.
Whole Foods Market, Inc. (NASDAQ: WFM) Raised to Neutral at Credit Suisse
Advanced Micro Devices, Inc. (NYSE: AMD) Raised to Outperform at Wells Fargo.
ExxonMobil Corporation (NYSE: XOM) reiterated Buy with $100 target at Argus.
First Solar Inc. (NASDAQ: FSLR) Maintained Buy but cut target to $90 at Argus.
Gardner Denver, Inc. (NYSE: GDI) named Value Stock of the Day at Zacks.
j2 Global Communications (NASDAQ: JCOM) Raised to Outperform as Bull of the Day at Zacks.
McDermott International Inc. (NYSE: MDR) Cut to Market Perform at William Blair.
Occidental Petroleum (NYSE: OXY) Raised to Outperform and $135 target at Credit Suisse.
Pan American Silver Corp. (NASDAQ: PAAS) Cut to Sector Perform at CIBC.
Plexus Corporation (NASDAQ: PLXS) named Bear of the Day at Zacks.
Potash Corp. of Saskatchewan (NYSE: POT) Cut to Sector Perform at Scotia (late-Thursday).
Spectrum Brands Inc. (NYSE: SPB) Started as Outperform with $35 target at Credit Suisse.
Sprint Nextel Corporation (NYSE: S) Raised to Outperform at Macquarie.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) Raised to Buy at BNP Paribas.
Virgin Media, Inc. (NASDAQ: VMED) Cut to Equal-weight at Morgan Stanley.
Whole Foods Market, Inc. (NASDAQ: WFM) Raised to Neutral at Credit Suisse
At 11:35 am....
Stocks are working their way higher, which is quite a feat after yesterday's 300 point runup, and then seeing futures this morning pointing to a 100 plus point drop.
A very positive tape. Let's see if it holds.
Dow +22
Nas +2
S&P +1
Leaders:
Baidu +6.25
Amazon +7.05
Walter Energy +3.77
Green Mountain Coffee +4.41
Las Vegas Sands +3.02
Mastercard +5.46
Salesforce.com +5.42
Travelzoo +2.20
Cliffs Natural Resources +3.46
Amerigroup +4.24
Vistaprint +3.38
Deckers +9.51
Intuitive Surgical +6.98
A very positive tape. Let's see if it holds.
Dow +22
Nas +2
S&P +1
Leaders:
Baidu +6.25
Amazon +7.05
Walter Energy +3.77
Green Mountain Coffee +4.41
Las Vegas Sands +3.02
Mastercard +5.46
Salesforce.com +5.42
Travelzoo +2.20
Cliffs Natural Resources +3.46
Amerigroup +4.24
Vistaprint +3.38
Deckers +9.51
Intuitive Surgical +6.98
Coinstar to raise prices at Redbox machines...
Shares of Coinstar (CSTR) turn lower stung in part by an announcement in the company's Q3 report that it's raising prices on standard def DVD rentals to $1.20 from $1.00. Also weighing on shares is late word that a 60-day delay on DVD rentals is being bandied around by Hollywood movie studios, aimed at helping boost their DVD sales and online purchases.
Hmm...this sounds familiar.
CSTR is currently down 4.88 to 48.16
Hmm...this sounds familiar.
CSTR is currently down 4.88 to 48.16
Consumer Sentiment improves...
October Consumer Sentiment: 60.9 vs. 58 expected, 57.5 preliminary and 59.4 in September. Expectations 51.8 vs. 47 preliminary and 49.4 in September. Current conditions 75.1 vs. 73.8 preliminary and 59.4 in September.
Samsung takes smartphone lead...
Samsung (SSNLF.PK) grabbed 23.8% of the market for smartphones in Q3, breezing past Apple (AAPL) (14.6%) for the No. 1 spot, Strategy Analytics says. Nokia (NOK) is in third place with 14.4%, but remains the overall leading provider of handsets with a 27.3% share. Samsung is No. 2 with 22.6%.
Market mixed after a lower open...
Stocks are holding up quite well in here considering futures were pointing to a much lower open.
Dow -37
Nas -12
S&P -6 to 1278
Here's something interesting for you:
The Silver ETF (SLV) is up 3.5% right now, and
The double short Silver ETF (ZSL) is up 1% as well.
REALLY??? How is that possible??? WOW, are these ETF's broken.
Dow -37
Nas -12
S&P -6 to 1278
Here's something interesting for you:
The Silver ETF (SLV) is up 3.5% right now, and
The double short Silver ETF (ZSL) is up 1% as well.
REALLY??? How is that possible??? WOW, are these ETF's broken.
The seesaw continues at Las Vegas Sands...
Las Vegas Sands Corp. (LVS). The company posted better-than-expected revenue in Asia and rode a rebound in U.S. growth on Thursday, calming fears that economic weakness would discourage leisure travel and gaming. Sands reported an adjusted net income of $444.8 million, or 55 cents a share, in the third quarter, compared with $265.2 million, or 34 cents a share, a year earlier.
LVS is up 1.50 to 47.10 premarket. This stock has been in a trading range between 38 and 50 for about a year...check the chart out below:
LVS is up 1.50 to 47.10 premarket. This stock has been in a trading range between 38 and 50 for about a year...check the chart out below:
Baidu soars after earnings...
Baidu Inc. (BIDU). The Chinese search engine forecast strong sales that topped Wall Street estimates, after reporting robust quarterly earnings, shrugging off concerns that a weak economy could hit advertisers. It expects fourth-quarter revenue of $691.4 million to $711.0 million. For the third quarter, Baidu reported net income of $295 million, or 84 cents a share.
Baidu is trading up 10 to 147 in premarket trading.
Baidu is trading up 10 to 147 in premarket trading.
Electronic Arts beats estimates...
Electronic Arts Inc. (ERTS). The video game maker’s second-quarter results beat Wall Street estimates and the company raised its earnings forecast because of the upcoming holiday title "Star Wars: The Old Republic," which it expects to be a hit. The company's adjusted earnings per share was 5 cents per share. The company raised its full year outlook to a range of 75 cents to 90 cents per share.
The guidance going forward is a little shy of expectations and the stock is down slightly in premarket trading.
The guidance going forward is a little shy of expectations and the stock is down slightly in premarket trading.
Good morning...
Wall Street's wild ride may calm down a bit today, following the huge Thursday rally prompted by the latest proposed solutions to the European debt crisis.
The Dow remains on track for its best monthly percentage gain since January 1987 and its best-ever monthly point gain, while the S&P 500 is on course for its best monthly percentage gain since October 1974.
But it's also important to note that October's huge gains haven't quite yet made up the third quarter's losses.
The week will end with a handful of economic reports: the government is out with personal income and spending figures for September at 8:30am ET.
Economists predict a 0.3% increase for income and a 0.6% jump in consumer spending. In August, income had been up 0.3% while spending fell 0.1%.
At 9:55am ET, the University of Michigan's October consumer sentiment index is seen rising to 58.5 from September's final reading of 57.5.
The Dow remains on track for its best monthly percentage gain since January 1987 and its best-ever monthly point gain, while the S&P 500 is on course for its best monthly percentage gain since October 1974.
But it's also important to note that October's huge gains haven't quite yet made up the third quarter's losses.
The week will end with a handful of economic reports: the government is out with personal income and spending figures for September at 8:30am ET.
Economists predict a 0.3% increase for income and a 0.6% jump in consumer spending. In August, income had been up 0.3% while spending fell 0.1%.
At 9:55am ET, the University of Michigan's October consumer sentiment index is seen rising to 58.5 from September's final reading of 57.5.
Thursday, October 27, 2011
Stocks fade in last hour, but still have nice day...
Stocks hold on to earlier gains. Actually, the Dow was up over 400 points in the last hour, but a little profit taking came in before the close.
Dow +339 to 12208
Nas +87
S&P +42 to 1284
So far, we are having the best October since the one following the 1987 crash. Hopefully, no new news out of Europe overnight.
Dow +339 to 12208
Nas +87
S&P +42 to 1284
So far, we are having the best October since the one following the 1987 crash. Hopefully, no new news out of Europe overnight.
Earnings due out after the bell...
Las Vegas Sands (LVS)
Deckers (DECK)
Electronic Arts (ERTS)
Coinstar (CSTR)
Crocs (CROX)
Baidu (BIDU)
Stamps.com (STMP)
Flowserve (FLS)
Vistaprint (VPRT)
Deckers (DECK)
Electronic Arts (ERTS)
Coinstar (CSTR)
Crocs (CROX)
Baidu (BIDU)
Stamps.com (STMP)
Flowserve (FLS)
Vistaprint (VPRT)
At 2:45 pm....
Stocks still looking strong. Banks, Oils, Metals, and Techs exploding to the upside.
Dow +367
Nas +95
S&P +44 to 1286
Pretty decent reaction to news out of Europe. Obviously traders were caught short.
New highs on the following stocks:
Whole Foods
O'Reilly Automotive
Red Hat
Simon Property Group
Under Armour
Mattel
Intuitive Surgical
Treehouse Foods
DSW
Limited bRands
Monsanto
Intel
Ralph Lauren
Cabot Oil and Gas
Electronic Arts
WalMart
Chevron
Dow +367
Nas +95
S&P +44 to 1286
Pretty decent reaction to news out of Europe. Obviously traders were caught short.
New highs on the following stocks:
Whole Foods
O'Reilly Automotive
Red Hat
Simon Property Group
Under Armour
Mattel
Intuitive Surgical
Treehouse Foods
DSW
Limited bRands
Monsanto
Intel
Ralph Lauren
Cabot Oil and Gas
Electronic Arts
WalMart
Chevron
Solar stocks are soaring...
The risk trade is on, and that means solar stocks are soaring (KWT +9.2%). Shares could also be getting a lift from the German government's outlining of expected subsidy cuts, which removes some uncertainty about their magnitude. Some of the biggest winners: LDK +22.1%. STP +18.7%. FSLR +14.8%. YGE +15.4%.
Perrigo sells off on earnings release...
Perrigo Co posted a better-than-expected quarterly profit, but the generic drugmaker's revenue fell short of estimates as growth in its major segments lagged. The company posted first-quarter revenue of $725.3 million, below market expectation of $750.1 million, according to Thomson Reuters I/B/E/S.
"Perrigo missed the top-line on both (consumer healthcare) and nutritional which raises some concern around fundamentals and growth in these segments," UBS analysts said in a note.
Consumer healthcare and the nutritionals segments together contribute almost two-thirds of the company's revenue. Nutritionals revenue fell $3 million to $120 million as increased competition hurt sales of vitamins, minerals and dietary supplements category. Consumer healthcare revenue rose 4 percent to $412 million, but fell short of market expectation.
Perrigo develops, manufactures and distributes over-the-counter and generic pharmaceuticals nutritional products, infant formulas, active pharmaceutical ingredients and pharmaceutical and medical diagnostic products.
For fiscal 2012, the company raised its adjusted earnings per share view to $4.65-$4.80 from $4.50-$4.65 a share. "While we appreciate the increased (earnings per share) guidance, it was mostly tax rate driven...," UBS analysts said.
For the first quarter ended Sept. 24, Perrigo's net income fell to $70.5 million, or 75 cents a share, from $74.4 million, or 80 cents a share, a year ago. Excluding items, it earned $1.10 a share, beating analysts' estimate of $1.05 a share.
PRGO is currently down 5.87 to 92.91
"Perrigo missed the top-line on both (consumer healthcare) and nutritional which raises some concern around fundamentals and growth in these segments," UBS analysts said in a note.
Consumer healthcare and the nutritionals segments together contribute almost two-thirds of the company's revenue. Nutritionals revenue fell $3 million to $120 million as increased competition hurt sales of vitamins, minerals and dietary supplements category. Consumer healthcare revenue rose 4 percent to $412 million, but fell short of market expectation.
Perrigo develops, manufactures and distributes over-the-counter and generic pharmaceuticals nutritional products, infant formulas, active pharmaceutical ingredients and pharmaceutical and medical diagnostic products.
For fiscal 2012, the company raised its adjusted earnings per share view to $4.65-$4.80 from $4.50-$4.65 a share. "While we appreciate the increased (earnings per share) guidance, it was mostly tax rate driven...," UBS analysts said.
For the first quarter ended Sept. 24, Perrigo's net income fell to $70.5 million, or 75 cents a share, from $74.4 million, or 80 cents a share, a year ago. Excluding items, it earned $1.10 a share, beating analysts' estimate of $1.05 a share.
PRGO is currently down 5.87 to 92.91
Valuations are compelling....
As long as the situation in Europe appears contained, at least for the time being, this market has some legs, says market strategist Joseph Tanious. Valuations are compelling, and if you look at the forward indicators, a lot of the headwinds that have been holding stocks back - are clearing.
His recommendation: rotate out of defensive and high-dividend stocks and into cyclicals.
His recommendation: rotate out of defensive and high-dividend stocks and into cyclicals.
You knew this was coming...
Research In Motion (RIMM) faces a rash of consumer lawsuits following its recent four-day BlackBerry outage. Shares were under pressure in the previous session after the company said it had delayed its Playbook 2.0 operating system until February.
RIMM was down earlier, now it is up 0.52 to 21.23
RIMM was down earlier, now it is up 0.52 to 21.23
At noon, stocks still climbing...
It's an all-out rally...
Dow +321 to 12190
Nas +75
S&P +36 to 1278
Next barrier to break thru is 1300 on the S&P. A very strong rally that is starting to look like more than just a short squeeze.
Dow +321 to 12190
Nas +75
S&P +36 to 1278
Next barrier to break thru is 1300 on the S&P. A very strong rally that is starting to look like more than just a short squeeze.
Today's Upgrades and Downgrades...
These are some of this Thursday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this morning.
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) named Bull of the Day at Zacks.
Bank of America Corporation (NYSE: BAC) Cut to Equal-weight at Morgan Stanley.
Ford Motor Co. (NYSE: F) Maintained Neutral and cut target to $14 from $16 at Credit Suisse.
Hospira Inc. (NYSE: HSP) Raised to Buy at BofA/ML, but named Bear of the Day at Zacks.
Itron Inc. (NASDAQ: ITRI) Started as Outperform with $60 target at Credit Suisse; maintained Buy and $50 target at Canaccord Genuity.
Kindred Healthcare, Inc. (NYSE: KND) named as Value stock of the day at Zacks.
Netflix, Inc. (NASDAQ: NFLX) Cut to Neutral at Citigroup (boy, how timely).
Praxair Inc. (NYSE: PX) Cut to Underperform from Buy at BofA/ML.
Range Resources Corporation (NYSE: RRC) Reiterated Sell at Canaccord Genuity.
Tim Hortons, Inc (NYSE: THI) Started as Neutral at Credit Suisse.
Urban Outfitters Inc. (NASDAQ: URBN) Raised to Buy at Citigroup.
Visa Inc. (NYSE: V) Cut to Market Perform at FBR
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) named Bull of the Day at Zacks.
Bank of America Corporation (NYSE: BAC) Cut to Equal-weight at Morgan Stanley.
Ford Motor Co. (NYSE: F) Maintained Neutral and cut target to $14 from $16 at Credit Suisse.
Hospira Inc. (NYSE: HSP) Raised to Buy at BofA/ML, but named Bear of the Day at Zacks.
Itron Inc. (NASDAQ: ITRI) Started as Outperform with $60 target at Credit Suisse; maintained Buy and $50 target at Canaccord Genuity.
Kindred Healthcare, Inc. (NYSE: KND) named as Value stock of the day at Zacks.
Netflix, Inc. (NASDAQ: NFLX) Cut to Neutral at Citigroup (boy, how timely).
Praxair Inc. (NYSE: PX) Cut to Underperform from Buy at BofA/ML.
Range Resources Corporation (NYSE: RRC) Reiterated Sell at Canaccord Genuity.
Tim Hortons, Inc (NYSE: THI) Started as Neutral at Credit Suisse.
Urban Outfitters Inc. (NASDAQ: URBN) Raised to Buy at Citigroup.
Visa Inc. (NYSE: V) Cut to Market Perform at FBR
Stocks open much higher...
Stocks are flying in here as it looks like Shorts are getting hit hard. Banks, Oils, Commodities, and tech are all moving higher.
Dow +242
Nas +57
S&P +28
Gold and Silver are moving higher as well.
Dow +242
Nas +57
S&P +28
Gold and Silver are moving higher as well.
Greek Debt deal well received...
News of the deal with private banks and insurers to take a 50% loss on Greek government bonds has sent world markets and U.S. stock index futures soaring this morning.
The cut is a voluntary one, and reduces Greece's debt burden by 100 billion euros.
The euro has jumped to a 7-week high and oil prices are also higher following that news.
The Greek debt deal should provide a significant positive boost to the U.S. markets, but there's still plenty of earnings and economic data in the day ahead to be considered as well.
The cut is a voluntary one, and reduces Greece's debt burden by 100 billion euros.
The euro has jumped to a 7-week high and oil prices are also higher following that news.
The Greek debt deal should provide a significant positive boost to the U.S. markets, but there's still plenty of earnings and economic data in the day ahead to be considered as well.
Wednesday, October 26, 2011
Stocks close out nice day...
As more news surfaced about possible solution to the EURO Debt crisis, stocks started climbing. Nice moves in Banks, Oils, and commodity stocks led the way.
Dow +162
Nas +12
S&P +12 to 1242
I'll get back to regular posting tomorrow.. Sorry but I have to work some times, you know.
Dow +162
Nas +12
S&P +12 to 1242
I'll get back to regular posting tomorrow.. Sorry but I have to work some times, you know.
S&P warns of another US Debt Downgrade...
S&P chairman John Chambers reportedly warns that the U.S. would be harmed if the congressional super committee doesn't come to a satisfactory solution on reducing the U.S. deficit, without specifically mentioning a ratings action. Bank of America earlier forecast a U.S. credit downgrade in the absence of a credible deficit reduction plan.
Panera blows out earnings...
Panera (PNRA) rockets up 14.4% after nailing a Q3 earnings triple play and grabbing lofty price target increases from Oppenheimer and Piper Jaffray to $150 and $156, respectively. CEO Bill Moreton says in a CC that the firm's MyPanera rewards program has been a runaway success with 8M registered users. "This is a tremendously powerful tool for us that we're just scratching the surface with."
PNRA is currently up 18 to 133.70 (a new all-time high)
PNRA is currently up 18 to 133.70 (a new all-time high)
Amazon losing money trying to keep up with Apple...
Amazon.com (AMZN) released its earnings last night, and the results suggest that the company is spending a lot of money developing and marketing its new Kindle Fire tablet. Amazon is looking to compete with Apple ‘s iPad.
The company reported net income of $63 million, or $0.14 per share. A year ago, the company earned $231 million, or $0.51 per share. This quarters earnings missed analysts’ expectations of $0.24 per share.
Amazon forecast that its operating results in the next quarter would range from a loss of $200 million to a profit of $250 million.
AMZN is currently down 29.40 to 197.74
The company reported net income of $63 million, or $0.14 per share. A year ago, the company earned $231 million, or $0.51 per share. This quarters earnings missed analysts’ expectations of $0.24 per share.
Amazon forecast that its operating results in the next quarter would range from a loss of $200 million to a profit of $250 million.
AMZN is currently down 29.40 to 197.74
Market takes off in the afternoon...
Stocks are rising this afternoon as details from the European summit to resolve the debt crisis began to emerge.
The euro zone aims to leverage its 440 billion euro bailout fund, the European Financial Stability Facility, or EFSF, "several fold," but finance ministers will only agree the details of how that will be done in November, according to a draft statement obtained by Reuters to be issued after the summit on Wednesday.
"The market has begun to discount any meaningful announcement coming from today's meeting -- that should be helpful for the markets as the bar is set pretty low," said Joseph Tanious, market strategist at J.P. Morgan Funds in New York.
"That said, the devil is always in the details. Are we going to get some clarity around the bank recapitalization? Are we going to get some clarity around leveraging the EFSF and some clarity around Greece? We need to see the degree of which details are going to be released in the statement."
The euro zone aims to leverage its 440 billion euro bailout fund, the European Financial Stability Facility, or EFSF, "several fold," but finance ministers will only agree the details of how that will be done in November, according to a draft statement obtained by Reuters to be issued after the summit on Wednesday.
"The market has begun to discount any meaningful announcement coming from today's meeting -- that should be helpful for the markets as the bar is set pretty low," said Joseph Tanious, market strategist at J.P. Morgan Funds in New York.
"That said, the devil is always in the details. Are we going to get some clarity around the bank recapitalization? Are we going to get some clarity around leveraging the EFSF and some clarity around Greece? We need to see the degree of which details are going to be released in the statement."
Stocks open higher...
Been out at a meeting...
Stocks are mixed at lunchtime as traders try to digest the news coming out of Europe. Basically, Germany has made a proposal that has been well received as a temporary fix. Our markets initially popped higher, and have since settled back down.
Dow +21
Nas -20
S&P -2
Gold is continuing to move higher. It looks like that trade is working no matter what happens in Europe.
Stocks are mixed at lunchtime as traders try to digest the news coming out of Europe. Basically, Germany has made a proposal that has been well received as a temporary fix. Our markets initially popped higher, and have since settled back down.
Dow +21
Nas -20
S&P -2
Gold is continuing to move higher. It looks like that trade is working no matter what happens in Europe.
Tuesday, October 25, 2011
No comeback today...
Stocks continued to drift lower as the day wore on, basically giving back the gains from the last two sessions.
Dow -207
Nas -61
S&P -25 to 1229
Amazon.com misses earnings and is down another 33 points after the bell. The market is getting dangerous again. It certainly has not be worth holding stocks for their earnings reports.
As far as Netflix goes, it closed down over 41 points to 77 and change. OK, I get it, the stock was overpriced, but now I think it is looking underpriced and should probably be bought. I doubt Netflix is going away any time soon.
Dow -207
Nas -61
S&P -25 to 1229
Amazon.com misses earnings and is down another 33 points after the bell. The market is getting dangerous again. It certainly has not be worth holding stocks for their earnings reports.
As far as Netflix goes, it closed down over 41 points to 77 and change. OK, I get it, the stock was overpriced, but now I think it is looking underpriced and should probably be bought. I doubt Netflix is going away any time soon.
With 30 minutes left....
Stocks are down big ahead of the EU Meeting tomorrow. Gold and Silver are back in the Fear trade, as is a flight to quality into Treasuries.
Dow -151
Nas -49
S&P -18 to 1235
Multiple Blowups today:
Netflix -42.01 to 76.84
Green Mountain Coffee -8.78 to 64.95
First Solar -14.55 to 43.40
Interactive Intelligence -8.00 to 25.79
Dow -151
Nas -49
S&P -18 to 1235
Multiple Blowups today:
Netflix -42.01 to 76.84
Green Mountain Coffee -8.78 to 64.95
First Solar -14.55 to 43.40
Interactive Intelligence -8.00 to 25.79
Earnings due tomorrow before the bell...
Lockheed Martin (LMT)
Northrup Grumman (NOC)
Sprint (S)
Ford (F)
Boeing (BA)
Allergan (AGN)
Wellpoint (WLP)
Brinker International (EAT)
JetBlue (JBLU)
Corning (GLW)
Medco Health (MHS)
Northrup Grumman (NOC)
Sprint (S)
Ford (F)
Boeing (BA)
Allergan (AGN)
Wellpoint (WLP)
Brinker International (EAT)
JetBlue (JBLU)
Corning (GLW)
Medco Health (MHS)
Earnings due out after the bell...
Amazon.com (AMZN)
Panera Bread (PNRA)
Robert Half (RHI)
Broadcom (BRCM)
Express Scripts (ESRX)
FFive Networks (FFIV)
Trustmark (TRMK)
Panera Bread (PNRA)
Robert Half (RHI)
Broadcom (BRCM)
Express Scripts (ESRX)
FFive Networks (FFIV)
Trustmark (TRMK)
First Solar CEO steps down...
First Solar (FSLR -10.4%) is getting hit after announcing that CEO Rob Gillette is stepping down. The company names Chairman and founder Michael Ahearn to serve as interim CEO effective immediately.
FSLR is down 11.18 to 46.75
We had pointed out the negative chart back at 66
FSLR is down 11.18 to 46.75
We had pointed out the negative chart back at 66
At 1:15 pm....
Stocks are lower, as more and more concerns surface about the Eurozone and the Summit meeting tomorrow.
Dow -92
Nas -30
S&P -12
Movers:
Under Armour (UA) +5.56 to 81.89
Gold ETF (GLD) +4.37 to 165.40
Wellcare (WCG) +1.61 to 47.43
CF Industries (CF) +2.38 to 161.52
British Petroleum (BP) +2.08 to 43.95
Netflix (NFLX) -41.00 to 77.90
Interactive Intelligence (ININ) -7.28 to 26.50
Dow -92
Nas -30
S&P -12
Movers:
Under Armour (UA) +5.56 to 81.89
Gold ETF (GLD) +4.37 to 165.40
Wellcare (WCG) +1.61 to 47.43
CF Industries (CF) +2.38 to 161.52
British Petroleum (BP) +2.08 to 43.95
Netflix (NFLX) -41.00 to 77.90
Interactive Intelligence (ININ) -7.28 to 26.50
More on the Gold spike...
Gold spikes higher over the past 90 minutes, threatening to push past $1,700/oz. for the first time since it plummeted under that level in September. There's no particular news other than the continuing idea that Western governments have little choice but to continue bailing, which has to be good for the metal. Dec. Gold is at $1,694.
Gold and Silver spike higher...
This has been a curious trade to me. Gold and Silver have been holding up after the drop that was experienced in late September. Below are the Daily Charts for GLD and SLV the two ETFs. You can see that both are breaking higher today ahead of tomorrow's EU Summit. Looks like a break above 165 on GLD and above 32 on SLV would be breakout levels.
Stocks open under pressure...
Stocks are lower after news that German PM Merkle rejects initial agreement proposal for tomorrow's EU Summit. Also confusion that another UK Finance Minister's meeting has been cancelled, even though the two meetings are not really connected. Either way, looks like the market is very skiddish ahead of the Summit meeting.
Dow -129
Nas -30
S&P -15
Stocks that are bucking the trend:
Under Armour +3.82 to 80.06
BP +1.67 to 43.48
ARM Holding +0.85 to 28.56
Netflix is down 42.76 to 76.18
Dow -129
Nas -30
S&P -15
Stocks that are bucking the trend:
Under Armour +3.82 to 80.06
BP +1.67 to 43.48
ARM Holding +0.85 to 28.56
Netflix is down 42.76 to 76.18
Today's Upgrades and Downgrades...
These are some of this Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this morning.
AT&T Inc. (NYSE: T) Cut to Market Perform at Bernstein.
The Bank of New York-Mellon (NYSE: BK) maintained Underperform as Bear of the Day at Zacks.
Brightpoint, Inc. (NASDAQ: CELL) Raised to Outperform as Bull of the Day at Zacks.
Family Dollar Stores, Inc. (NYSE: FDO) named Growth & Income stock of the day at Zacks.
Forest Laboratories Inc. (NYSE: FRX) Cut to Hold at Argus.
Healthways Inc. (NASDAQ: HWAY) downgraded at William Blair, Barclays, and Piper Jaffray.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Raised to Overweight at Piper Jaffray.
Level 3 Communications Inc. (NASDAQ: LVLT) Raised to Neutral at Citigroup.
Lowe’s Companies Inc. (NYSE: LOW) Raised to Buy at Janney.
Netflix, Inc. (NASDAQ: NFLX) downgraded by Reed Hastings and everyone left who was still positive.
Royal Gold, Inc. (NASDAQ: RGLD) Raised to Overweight at HSBC.
Veeco Instruments Inc. (NASDAQ: VECO) Cut to Neutral at Sterne Agee; Reiterated Sell ar Canaccord Genuity.
AT&T Inc. (NYSE: T) Cut to Market Perform at Bernstein.
The Bank of New York-Mellon (NYSE: BK) maintained Underperform as Bear of the Day at Zacks.
Brightpoint, Inc. (NASDAQ: CELL) Raised to Outperform as Bull of the Day at Zacks.
Family Dollar Stores, Inc. (NYSE: FDO) named Growth & Income stock of the day at Zacks.
Forest Laboratories Inc. (NYSE: FRX) Cut to Hold at Argus.
Healthways Inc. (NASDAQ: HWAY) downgraded at William Blair, Barclays, and Piper Jaffray.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Raised to Overweight at Piper Jaffray.
Level 3 Communications Inc. (NASDAQ: LVLT) Raised to Neutral at Citigroup.
Lowe’s Companies Inc. (NYSE: LOW) Raised to Buy at Janney.
Netflix, Inc. (NASDAQ: NFLX) downgraded by Reed Hastings and everyone left who was still positive.
Royal Gold, Inc. (NASDAQ: RGLD) Raised to Overweight at HSBC.
Veeco Instruments Inc. (NASDAQ: VECO) Cut to Neutral at Sterne Agee; Reiterated Sell ar Canaccord Genuity.
Under Armour reports strong earnings...
Shares of Under Armour (UA) slip 3.2% premarket despite beating analyst estimates for Q3 EPS, $0.88 vs. $0.83. The sporting apparal retailer also steered its revenue guidance higher to $1.46B-$1.47B, from $1.42B-$1.44B, but investors may be taking profits off of yesterday's 4.4% gain.
Here is the weekly chart:
Here is the weekly chart:
Simon Property Group beats and raises...
Simon Property Group Inc. (SPG). The owner of malls and outlet centers reported better-than-expected quarterly earnings and raised its profit forecast for the year. It said third-quarter funds from operations totaled $606.2 million, or $1.71 per share, up from $503.6 million, or $1.43 per share, a year earlier. The company increased its full-year FFO forecast to a range of $6.80 to $6.85 per share from a previously raised range of $6.65 to $6.73.
SPG broke out yesterday ahead of this earnings report:
SPG broke out yesterday ahead of this earnings report:
Coach still selling their high end handbags...
Coach Inc. (COH). The company reported a higher-than-expected first-quarter profit as sales of its upscale handbags, wallets and accessories rose in North America despite the rocky economy and continued to grow in China. It reported earnings of 73 cents a share on net income of $215 million.
ARM Holdings beats expectations...
ARM Holdings (ARMH). The company reported strong licensing of its chip designs in the third quarter, helping it beat market expectations and offset current weak demand in consumer electronic markets ahead of the holiday season. It reported a 44 percent rise in pretax profit to 55.8 million pounds on revenue up 20 percent to 120.2 million pounds. The company reported earnings of 3.05 pence per share.
ARMH's technology is a major component of the iPad.
ARMH's technology is a major component of the iPad.
Netflix gets pounded...
Netflix Inc. (NFLX). The video rental company lost more customers than it anticipated in the third quarter and warned of still more defections to come. It reported a better-than-expected 49 percent surge in third-quarter revenue to $822 million, surpassing Wall Street's target of about $812 million. It also beat expectations on earnings per share. Netflix also forecast a loss for the first quarter of 2012 as it expands into Europe.
Netflix is currently down 41 points to 77 premarket. OUCH!!!
Netflix is currently down 41 points to 77 premarket. OUCH!!!
Good Morning...
The Dow and the Nasdaq are coming off their best closes since August 1, the S&P 500 since August 3, but the immediate outlook for the U.S. stock market clearly rests on negotiations taking place in Europe. Futures have been moving between gains and losses on the uncertainty over exactly what kind of deal on European debt will be forthcoming on Wednesday.
A busy day of corporate earnings is also ahead, with Dow components DuPont (DD) reporting earnings per share of $0.69 ex-items versus expectations of $0.56.
This morning's earnings list also includes 3M (MMM), Cummins (CMI), Coach (COH), Sherwin-Williams (SHW), UPS (UPS), U.S. Steel (X), and Xerox (XRX), among others. Amazon.com (AMZN) leads today's after-the-bell earnings roster, with Panera Bread (PNRA), Express Scripts (ESRX), and Broadcom (BRCM) also set to report.
Netflix (NFLX) leads this morning's list of stocks to watch, plunging in after-hours trading on weak subscriber numbers and soft fourth quarter guidance.
Amgen (AMGN) may get some positive action after beating estimates with its third quarter numbers, while Texas Instruments (TXN) also beat estimates, but issued a cautious fourth quarter outlook.
BP (BP) shares are up about 4% overseas, after chief executive Bob Dudley said the company has turned a corner following the Gulf oil spill, and that the dividend could be lifted this year.
A busy day of corporate earnings is also ahead, with Dow components DuPont (DD) reporting earnings per share of $0.69 ex-items versus expectations of $0.56.
This morning's earnings list also includes 3M (MMM), Cummins (CMI), Coach (COH), Sherwin-Williams (SHW), UPS (UPS), U.S. Steel (X), and Xerox (XRX), among others. Amazon.com (AMZN) leads today's after-the-bell earnings roster, with Panera Bread (PNRA), Express Scripts (ESRX), and Broadcom (BRCM) also set to report.
Netflix (NFLX) leads this morning's list of stocks to watch, plunging in after-hours trading on weak subscriber numbers and soft fourth quarter guidance.
Amgen (AMGN) may get some positive action after beating estimates with its third quarter numbers, while Texas Instruments (TXN) also beat estimates, but issued a cautious fourth quarter outlook.
BP (BP) shares are up about 4% overseas, after chief executive Bob Dudley said the company has turned a corner following the Gulf oil spill, and that the dividend could be lifted this year.
Monday, October 24, 2011
Stocks close with gains across the board...
Another strong day for stocks, as it appears as though traders are not fearing the Euro contagion anymore.
Dow +104
Nas +61
S&P +15 to 1254
All groups move higher except a little weakness in Utilities.
Gold and Silver were up as well, as that trade seems to make no sense. Someone is buying gold and silver no matter what happens with anything else. It used to be a fear trade, now it goes up even on strong days.
Big Gainers:
Apple +12.90 to 405.77
Caterpillar +4.38 to 91.77
Wynn Resorts +7.25 to 127.65
CF Industries +5.74 to 159.14
Perrigo +3.85 to 101.01
After the close: Netflix misses on earnings (no secret) the stock is down 18 to 101 - more tomorrow.
Dow +104
Nas +61
S&P +15 to 1254
All groups move higher except a little weakness in Utilities.
Gold and Silver were up as well, as that trade seems to make no sense. Someone is buying gold and silver no matter what happens with anything else. It used to be a fear trade, now it goes up even on strong days.
Big Gainers:
Apple +12.90 to 405.77
Caterpillar +4.38 to 91.77
Wynn Resorts +7.25 to 127.65
CF Industries +5.74 to 159.14
Perrigo +3.85 to 101.01
After the close: Netflix misses on earnings (no secret) the stock is down 18 to 101 - more tomorrow.
FDA approves generic Zyprexa...
The FDA approves the first generic versions of Zyprexa tablets and Zyprexa Zydus orally disintegrating tablets to treat schizophrenia and bipolar disorder. The drugs will be jointly manufactured and distributed by Dr. Reddy's Labs (RDY +1%), Teva Pharmaceuticals (TEVA +0.9%) and Par Pharmaceuticals (PRX +1.9%).
New Issue Municipal Bonds...
Just coming across my desk:
New Issue
Virginia College Building Authority Municipal Bonds
Tax Free
paying 4% per year
Maturity date: 9/1/36
Callable 9/1/21
Selling at 99.75
Might be a good place to put some long-term money. These are bond for the various Virgnia State Colleges.
New Issue
Virginia College Building Authority Municipal Bonds
Tax Free
paying 4% per year
Maturity date: 9/1/36
Callable 9/1/21
Selling at 99.75
Might be a good place to put some long-term money. These are bond for the various Virgnia State Colleges.
Stocks still climbing...
Another nice day, so far, on the heels of a positive day on Friday.
Dow +97
Nas +58
S&P +15 to 1253
Just about every sector is showing strength, so it looks like the market is liking the possibility of some good news on Wednesday concerning the Euro crisis.
Dow +97
Nas +58
S&P +15 to 1253
Just about every sector is showing strength, so it looks like the market is liking the possibility of some good news on Wednesday concerning the Euro crisis.
SXCI down on Healthspring acquisition...
SXC Health Solutions (SXCI) is down big following news that customer HealthSpring (HS) will be acquired by Cigna (CI). SXCI could be negatively impacted by the deal due to its relationship with HS, which could be in danger since CI likely would provide the same services.
SXCI is currently down 13.44 to 42.98
SXCI is currently down 13.44 to 42.98
Oracle buys RightNow Technologies...
Oracle (ORCL) will purchase RightNow Technologies (RNOW) for $43/share, about a 20% premium to the stock's Friday close.
With this deal, Oracle is squarely targeting Salesforce.com (CRM) and NetSuite (N) in the burgeoning market for cloud-based CRM software. While Oracle is a leader in traditional CRM, cloud-based solutions, with their lower up-front costs and faster rollout times, have become a growing threat.
Obviously the Street likes the deal: ORCL +0.36 to 32.46.
With this deal, Oracle is squarely targeting Salesforce.com (CRM) and NetSuite (N) in the burgeoning market for cloud-based CRM software. While Oracle is a leader in traditional CRM, cloud-based solutions, with their lower up-front costs and faster rollout times, have become a growing threat.
Obviously the Street likes the deal: ORCL +0.36 to 32.46.
Stocks open higher...
Helped by positive earnings from Caterpillar and a few buyouts, stocks are pushing higher in early trading.
Dow +48
Nas +24
S&P +7 to 1245
The S&P is drifting higher thru resistance that we had previously seen in the 1225-1235 range. Next resitance is at 1300.
I'm not really sure what to think about the European situation. I can't tell what the market is pricing in. It looks like traders are anticipating a solution by Wednesday. If some solution/agreement is not fianlized by then, we could see a quick drop in equities.
Gold and Silver are holding near their recent lows, but are holding up well. Obviously some LARGE fund or pool of money is propping that trade up. Here are the charts on the Gold and Silver ETFs:
Dow +48
Nas +24
S&P +7 to 1245
The S&P is drifting higher thru resistance that we had previously seen in the 1225-1235 range. Next resitance is at 1300.
I'm not really sure what to think about the European situation. I can't tell what the market is pricing in. It looks like traders are anticipating a solution by Wednesday. If some solution/agreement is not fianlized by then, we could see a quick drop in equities.
Gold and Silver are holding near their recent lows, but are holding up well. Obviously some LARGE fund or pool of money is propping that trade up. Here are the charts on the Gold and Silver ETFs:
Caterpillar moves higher after earnings...
Caterpillar reported record sales in its third quarter and predicting full-year results will come in at the higher end of its previous forecast.
The construction equipment and machinery maker recorded a third-quarter profit of $1.1 billion, up 44% from a year earlier, on $15.7 billion in sales that were up 41% from the prior year and set a new company record. On a per-share basis, profits of $1.71 were up 40% from $1.22 a year ago and easily topped the $1.54 consensus estimate.
Excluding costs related to the acquisition of mining equipment business Bucyrus International, Caterpillar earned $1.93 per share on sales of $14.5 billion.
Even more important than Caterpillar’s third-quarter results was the company’s outlook, which sounded a fairly upbeat tone. The company said it expects full-year 2011 earnings and sales to come in at the high end of its previous guidance, at $6.75 per share and $58 billion.
CAT is currently up 4.90 to 92.32
The construction equipment and machinery maker recorded a third-quarter profit of $1.1 billion, up 44% from a year earlier, on $15.7 billion in sales that were up 41% from the prior year and set a new company record. On a per-share basis, profits of $1.71 were up 40% from $1.22 a year ago and easily topped the $1.54 consensus estimate.
Excluding costs related to the acquisition of mining equipment business Bucyrus International, Caterpillar earned $1.93 per share on sales of $14.5 billion.
Even more important than Caterpillar’s third-quarter results was the company’s outlook, which sounded a fairly upbeat tone. The company said it expects full-year 2011 earnings and sales to come in at the high end of its previous guidance, at $6.75 per share and $58 billion.
CAT is currently up 4.90 to 92.32
Healthspring to be acquired by Cigna...
HealthSpring Inc., (HS) the Nashville operator of Medicare Advantage health plans, agreed to be acquired by Cigna Corp. for $55 a share, or $3.8 billion. Cigna (CI) is the Bloomfield, Conn., insurer. The deal price is a 37% premium to HealthSpring's closing price Friday at $40.16 a share.
HealthSpring's Medicare Advantage plans have 340,000 members in 11 states and it operates a Medicare prescription-drug business with 800,000 customers, the companies said in a Monday statement.
HealthSpring's Medicare Advantage plans have 340,000 members in 11 states and it operates a Medicare prescription-drug business with 800,000 customers, the companies said in a Monday statement.
IBD's Top 10 stocks...
Here is the latest top 10 rated stocks from Investor's Business Daily:
1. Lulumon Athletica (LULU)
2. Alexion Pharmaceuticals (ALXN)
3. Ulta Salon and Cosmetics (ULTA)
4. Herbalife (HLF)
5. Intuitive Surgical (ISRG)
6. Mastercard (MA)
7. Dollar Tree (DLTR)
8. Hansen Natural (HANS)
9. Apple Inc. (AAPL)
10. Perrigo (PRGO)
1. Lulumon Athletica (LULU)
2. Alexion Pharmaceuticals (ALXN)
3. Ulta Salon and Cosmetics (ULTA)
4. Herbalife (HLF)
5. Intuitive Surgical (ISRG)
6. Mastercard (MA)
7. Dollar Tree (DLTR)
8. Hansen Natural (HANS)
9. Apple Inc. (AAPL)
10. Perrigo (PRGO)
Analyst moves....
• BB&T Corp (BBT) price target raised to $24 from $22 at Citigroup
• CME (CME) price target cut to $315 from $350; rating buy at Citigroup
• Duke Realty Corp (DRE) rating raised to outperform at Baird
• Frontline (FRO) rating cut to underweight from equal-weight; price target cut to $4 from $12 at Evercore Partners
• Honeywell International Inc (HON) price target raised to $55 from $48 at Citigroup; price target raised to $59 from $57 at FBR
• ICE (ICE) price target cut to $130 from $134; rating neutral at Citigroup
• LPL Investment Holding Inc (LPLA) coverage assumed with outperform at William Blair
• Newbridge Bancorp (NBBC) price target cut to $5 from $5.50 at KBW
• Nordic American Tanker Ltd (NAT) price target cut to $13 from $19 at Evercore Partners
• Overseas Shipholding (OSG) rating cut to underweight from equal-weight; price target cut to $10 from $23 at Evercore Partners
• Schlumberger (SLB) price target cut to $84 from $88; rating buy at Citigroup
• Seagate Technology Plc. (STX) price target raised to $22 from $18; rating buy at Citigroup
• Suntrust Banks Inc. (STI) price target cut to $30 from $33 at RBC
• Taubman Centers Inc. (TCO) price target raised to $58 from $52 at KBW
• Teradyne Inc. (TER) price target cut to $18 from $21; rating buy at Citigroup
• CME (CME) price target cut to $315 from $350; rating buy at Citigroup
• Duke Realty Corp (DRE) rating raised to outperform at Baird
• Frontline (FRO) rating cut to underweight from equal-weight; price target cut to $4 from $12 at Evercore Partners
• Honeywell International Inc (HON) price target raised to $55 from $48 at Citigroup; price target raised to $59 from $57 at FBR
• ICE (ICE) price target cut to $130 from $134; rating neutral at Citigroup
• LPL Investment Holding Inc (LPLA) coverage assumed with outperform at William Blair
• Newbridge Bancorp (NBBC) price target cut to $5 from $5.50 at KBW
• Nordic American Tanker Ltd (NAT) price target cut to $13 from $19 at Evercore Partners
• Overseas Shipholding (OSG) rating cut to underweight from equal-weight; price target cut to $10 from $23 at Evercore Partners
• Schlumberger (SLB) price target cut to $84 from $88; rating buy at Citigroup
• Seagate Technology Plc. (STX) price target raised to $22 from $18; rating buy at Citigroup
• Suntrust Banks Inc. (STI) price target cut to $30 from $33 at RBC
• Taubman Centers Inc. (TCO) price target raised to $58 from $52 at KBW
• Teradyne Inc. (TER) price target cut to $18 from $21; rating buy at Citigroup
Netflix to offer service in UK and Ireland...
Netflix Inc. (NFLX). The company said it will launch a subscription service in the United Kingdom and Ireland in early 2012, offering unlimited TV shows and movie streaming over the Internet. The service will be available to customers on a monthly subscription basis, Netflix said.
Good Morning...
U.S. stock index futures are pointing to a higher open this morning on hopes for a concrete plan to solve the European debt crisis, with leaders having made some progress over the weekend.
The Dow begins the new week coming off a four week winning streak, the only one of the major averages currently in positive territory for 2011.
October, traditionally one of the worst months of the year for stocks, is on track for the best monthly gain for the S&P 500 since March 2000, while the Dow is on pace for its best monthly point gain since April 1999.
The Dow begins the new week coming off a four week winning streak, the only one of the major averages currently in positive territory for 2011.
October, traditionally one of the worst months of the year for stocks, is on track for the best monthly gain for the S&P 500 since March 2000, while the Dow is on pace for its best monthly point gain since April 1999.
Friday, October 21, 2011
Have a good weekend....
I am checking out for the weekend. I'll leave you with an update. Stocks are still holding early gains.
Dow +210
Nas +46
S&P +22 to 1238
My guess is if nothing happens in Europe this weekend, that we will sell off any gains we end up with today.
Dow +210
Nas +46
S&P +22 to 1238
My guess is if nothing happens in Europe this weekend, that we will sell off any gains we end up with today.
Capitol One reports better-than-expected earnings...
Capital One Financial Corp. (COF). The company reported a better-than-expected quarterly profit as net interest income rose and the bank set aside less money for loan losses. Capital One reported third-quarter net income of $813 million, or $1.77 per share and total revenues rose 3.4 percent to $4.15 billion from $4 billion a year ago.
COF is up 1.91 to 42.40 on the news
COF is up 1.91 to 42.40 on the news
Chipotle beats...stock flies...
Chipotle Mexican Grill (CMG). The company reported better-than-expected quarterly profit as robust sales at established restaurants offset higher food costs. Third-quarter net income was $60.4 million, or $1.90 per share, up from $48.2 million, or $1.52 cents per share, a year earlier and revenue rose 24.1 percent to $591.9 million.
CMG is currently up 20 to 328.20
CMG is currently up 20 to 328.20
GE meets expectations...
General Electric Co. (GE). The conglomerate reported an 18 percent rise in quarterly profit that met Wall Street's expectations, as revenue rose across its big energy, aviation, healthcare and transportation arms. Third-quarter earnings attributable to common shareholders came to $2.34 billion, or 22 cents per share, compared with $1.98 billion, or 18 cents per share, a year earlier.
GE is opening down 0.26 to 16.37
GE is opening down 0.26 to 16.37
Stocks burst out of the gate...
In sympathy with a big European short covering rally, stocks are flying early.
Dow +152
Nas +30
S&P +16 to 1231
Not sure this rally will hold, but traders will probably cover all shorts by the end of the day in fear that something positive may hapen in Europe on Sunday.
Dow +152
Nas +30
S&P +16 to 1231
Not sure this rally will hold, but traders will probably cover all shorts by the end of the day in fear that something positive may hapen in Europe on Sunday.
Groupon sets offering price...
Groupon (GRPN) plans to offer 30M shares at about $17/share, bringing in $479M. With a total 633M shares outstanding, the IPO would give Groupon a valuation of $10.76B. Valuation estimates have ranged from $25B early this year to as low as $3-5B earlier this month.
When this comes out, it will surely be a hot one, however, once the dust settles, it will be one of the great shorts of all-time.
When this comes out, it will surely be a hot one, however, once the dust settles, it will be one of the great shorts of all-time.
Good Morning...
U.S. stocks continue to be vulnerable to every headline emerging from Europe, where leaders are preparing for a weekend summit to talk about the debt crisis.
The Dow has now alternated between gains and losses for 11 consecutive sessions, the S&P 500 for seven, highlighting the uncertain nature of investor sentiment these days.
The Dow has only experienced such a streak of 11 sessions or longer five other times in its history.
We now know that a definitive plan to ease the European debt crisis won't happen at this weekend's gathering - that is now hoped to happen in a second summit set to happen by Wednesday at the latest.
The Dow has now alternated between gains and losses for 11 consecutive sessions, the S&P 500 for seven, highlighting the uncertain nature of investor sentiment these days.
The Dow has only experienced such a streak of 11 sessions or longer five other times in its history.
We now know that a definitive plan to ease the European debt crisis won't happen at this weekend's gathering - that is now hoped to happen in a second summit set to happen by Wednesday at the latest.
Thursday, October 20, 2011
Stocks close mixed...
Dow +37
Nas -5
S&P +5
Ho hum....Looks like we are tied to whatever happens in Europe overnight.
Nas -5
S&P +5
Ho hum....Looks like we are tied to whatever happens in Europe overnight.
Bernanke says EU crisis is solvable...
In a closed door meeting with Senate Democrats Fed chief Bernanke says the EU crisis is solvable, it's just up to policymakers to take the necessary steps. The key, he believes is just getting past the politics. Addressing the U.S. economy, the Chairman says the Fed has done what it could do, it's on Congress now.
That's not good. Those clowns do nothing productive.
That's not good. Those clowns do nothing productive.
Stocks reporting before the open tomorrow...
Schlumberger (SLB)
Verizon (VZ)
Haliburton (HAL)
Air Products (APD)
McDonald's (MCD)
Manpower (MAN)
Verizon (VZ)
Haliburton (HAL)
Air Products (APD)
McDonald's (MCD)
Manpower (MAN)
Notable stocks reporting after the close today...
Tempur Pedic (TPX)
Acme Packet (APKT)
Sandisk (SNDK)
Athena Health (ATHN)
Capitol One (COF)
Microsoft (MSFT)
Chipotle (CMG)
Informatica (INFA)
Acme Packet (APKT)
Sandisk (SNDK)
Athena Health (ATHN)
Capitol One (COF)
Microsoft (MSFT)
Chipotle (CMG)
Informatica (INFA)
Transports say economy not that bad...
Two top rail execs are saying the U.S. is in a "slow growth environment" but not a recession. "I don't see a double-dip," Union Pacific's (UNP) Jim Young says; with inventory levels "as low as they've ever been," any spurt in consumer demand would pose an opportunity. CSX's (CSX) Michael Ward says the economy even shows signs of life.
The transport sector is rallying 1.5% today.
The transport sector is rallying 1.5% today.
Greece passes austerity measures...market rallies...
As expected, the Greek parliament passes the latest austerity measures - including wage cuts and higher taxes - paving the way for the country to receive the next tranche of bailout money. The vote was 154 to 144. One member of the ruling PASOKs voted against, and was immediately kicked out of the party.
As a result stocks have moved higher:
Dow +59
Nas +1
S&P +8
Yesterday there were riots in the streets over passing this...I don't think this positive reaction is going to hold.
As a result stocks have moved higher:
Dow +59
Nas +1
S&P +8
Yesterday there were riots in the streets over passing this...I don't think this positive reaction is going to hold.
Food prices rising...
Wholesale food prices are "on pace to post their strongest annual increase in more than three decades,” National Restaurant Association's Bruce Grindy writes. Food costs are already up 7.8% this year, and if the trend holds, they will have soared 26% in five years. So far, grocers have been passing along more of those increases to customers than restaurants.
I'm getting a little tired of this Euro thing...
Anyone else???
We need to get some sort of solution over there so we can move on.
We need to get some sort of solution over there so we can move on.
EU Summit follow-up meeting next Wednesday...
Now, the news is that the EU summit will happen on Sunday, and that a follow-up EU summit, probably scheduled for next Wednesday, is in the works. This weekend's gathering may not accomplish as much as hoped, reports the FT. "There will be no agreements (Sunday) ... this will now happen Wednesday at the earliest," says a German official.
Whatever, at least stocks and the euro are rallying a bit on this news.
At 1:15 pm:
Dow -28
Nas -20
S&P -1
Whatever, at least stocks and the euro are rallying a bit on this news.
At 1:15 pm:
Dow -28
Nas -20
S&P -1
Stocks slip on possible EU summit cancelation...
As news came out that the EU may cancel their summit planned for this weekend, stocks have started falling.
Dow -101
Nas -41
S&P -10
Looks like steel stocks are the only group moving higher. Gold and Silver are breaking down, as they have been tracking the strength of the Euro. When the Euro falls, so does gold and silver. Not sure why, other than there were rumors that European banks were heavily invested in Gold and Silver.
Here's a look at the Gold and Silver ETF's:
Dow -101
Nas -41
S&P -10
Looks like steel stocks are the only group moving higher. Gold and Silver are breaking down, as they have been tracking the strength of the Euro. When the Euro falls, so does gold and silver. Not sure why, other than there were rumors that European banks were heavily invested in Gold and Silver.
Here's a look at the Gold and Silver ETF's:
Gadhafi killed...
Libyan dictator Moammar Gadhafi, the most wanted man in the world, has been killed, Libyan Prime Minister Mahmoud Jibril said today.
The flamboyant tyrant who terrorized his country and much of the world during his 42 years of despotic rule was reportedly cornered by insurgents in the town of Sirte, where Gadhafi had been born and a stronghold of his supporters.
"We have been waiting for this moment for a long time. Moammar Gadhafi has been killed," Jibril said at a news conference in Tripoli.
The flamboyant tyrant who terrorized his country and much of the world during his 42 years of despotic rule was reportedly cornered by insurgents in the town of Sirte, where Gadhafi had been born and a stronghold of his supporters.
"We have been waiting for this moment for a long time. Moammar Gadhafi has been killed," Jibril said at a news conference in Tripoli.
Stocks looking good on open...
Stocks are moving higher after taking a break yesterday.
Dow +55
Nas -2
S&P +6
Tech stocks are holding the averages back but are starting to strengthen in the last 15 minutes.
I've been reading alot of pessimistic views of the latest rally...which is exactly what we want. Climb that Wall of Worry!!!
Dow +55
Nas -2
S&P +6
Tech stocks are holding the averages back but are starting to strengthen in the last 15 minutes.
I've been reading alot of pessimistic views of the latest rally...which is exactly what we want. Climb that Wall of Worry!!!
Wynn gets hit on earnings...
Wynn Resorts Ltd. (WYNN). The casino operator swung to a quarterly profit as revenue at its Wynn Macau unit soared 42 percent, but it won less money than usual in Las Vegas. Adjusting for one-time items, Wynn earned $1.05 per share in the third quarter. The company's quarterly net revenue rose 30 percent to $1.3 billion from a year earlier.
Wynn is down 7 to 123 on the news.
Wynn is down 7 to 123 on the news.
eBay gives cautious guidance...
EBay Inc. (EBAY). The operator of the largest online marketplace reported profit that matched Wall Street estimates and gave a restrained outlook for the rest of the year because of economic uncertainty. EBay reported third-quarter net income of $490.5 million, or 37 cents a share and forecasts fourth-quarter profit of 55 cents to 58 cents a year.
eBay is selling off on the earnings...the stock is down 1.38 to 31.81
This looks like an opportunity to "Buy". Remember, earlier in the week, the company was talking about how earnings from PayPal was expected to grow.
eBay is selling off on the earnings...the stock is down 1.38 to 31.81
This looks like an opportunity to "Buy". Remember, earlier in the week, the company was talking about how earnings from PayPal was expected to grow.
Today's Upgrades and Downgrades...
These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday morning.
Baidu, Inc. (NASDAQ: BIDU) Cut to Neutral at Goldman Sachs.
Changyou.com Limited (NASDAQ: CYOU) Raised to Buy at Goldman Sachs.
Core Laboratories N.V. (NYSE: CLB) Cut to Market Perform at FBR.
CSX Corporation (NYSE: CSX) Cut to Market Perform at Wells Fargo.
eBay Inc. (NASDAQ: EBAY) Maintained long-term outperform and near-term hold at Zacks; reiterated Outperform at Credit Suisse.
Herbalife (HLF: NYSE) Reiterated Buy at Canaccord Genuity.
Macy’s Inc. (NYSE: M) Started as Overweight at JPMorgan.
Monsanto Co. (NYSE: MON) Started as Market Perform at Wells Fargo.
PVH Corp. (NYSE: PVH) named value stock of the day at Zacks.
Polycom, Inc. (NASDAQ: PLCM) Cut to Neutral at Piper Jaffray; Cut to Market Perform at William Blair.
Regency Centers Corporation (NYSE: REG) Raised to Outperform at Credit Suisse.
Western Digital Corporation (NYSE: WDC) Cut to Underweight at JPMorgan.
Western Union (NYSE: WU) Raised to Outperform as Bull of the Day at Zacks.
Wynn Resorts Ltd. (NASDAQ: WYNN) Reiterated Outperform at Credit Suisse.
Youku.com Inc. (NYSE: YOKU) Raised to Conviction Buy List at Goldman Sachs
Baidu, Inc. (NASDAQ: BIDU) Cut to Neutral at Goldman Sachs.
Changyou.com Limited (NASDAQ: CYOU) Raised to Buy at Goldman Sachs.
Core Laboratories N.V. (NYSE: CLB) Cut to Market Perform at FBR.
CSX Corporation (NYSE: CSX) Cut to Market Perform at Wells Fargo.
eBay Inc. (NASDAQ: EBAY) Maintained long-term outperform and near-term hold at Zacks; reiterated Outperform at Credit Suisse.
Herbalife (HLF: NYSE) Reiterated Buy at Canaccord Genuity.
Macy’s Inc. (NYSE: M) Started as Overweight at JPMorgan.
Monsanto Co. (NYSE: MON) Started as Market Perform at Wells Fargo.
PVH Corp. (NYSE: PVH) named value stock of the day at Zacks.
Polycom, Inc. (NASDAQ: PLCM) Cut to Neutral at Piper Jaffray; Cut to Market Perform at William Blair.
Regency Centers Corporation (NYSE: REG) Raised to Outperform at Credit Suisse.
Western Digital Corporation (NYSE: WDC) Cut to Underweight at JPMorgan.
Western Union (NYSE: WU) Raised to Outperform as Bull of the Day at Zacks.
Wynn Resorts Ltd. (NASDAQ: WYNN) Reiterated Outperform at Credit Suisse.
Youku.com Inc. (NYSE: YOKU) Raised to Conviction Buy List at Goldman Sachs
American Express beats but heads lower...
American Express Co. (AXP). The company posted higher-than-expected quarterly net earnings as cardholders spent more, but expenses grew faster than revenue. The company said third-quarter net income rose to $1.2 billion, or $1.03 per share and total revenue, net of interest expenses, rose 9 percent to $7.57 billion.
AXP is down 1.05 to 45.08 in premarket trading.
AXP is down 1.05 to 45.08 in premarket trading.
Alexion Pharmaceuticals beats and raises...
Alexion Pharmaceuticals Inc. (ALXN). The company posted a more than two-fold rise in net quarterly profit that also topped market estimates, helped by strong global sales of its genetic disorder drug, and raised its full-year view for the second time in less than a month. For the third quarter, the company reported a net income of $65.6 million, or 34 cents a share, compared with $27.9 million, or 15 cents a share, a year ago. The company now sees 2011 earnings of $1.25-$1.28 excluding items, up from earlier outlook of $1.15-$1.20.
ALXN is up 4.00 to 70.03 in premarket trading.
ALXN is Investor's Business Daily's number 1 rated stock.
ALXN is up 4.00 to 70.03 in premarket trading.
ALXN is Investor's Business Daily's number 1 rated stock.
Good morning...
Stocks on Wednesday wiped out most of the prior day's gains after a glum report on the U.S. regional economies triggered broad selling in the last two hours of trade. Volume, however, was mixed.
For what looks to be a confirmed rally now in its second week, the number of stocks breaking out to new highs is still disappointing. The new highs list still lacks beef.
I'll be pointing out stocks that break out...we would like to see that number increase in the coming weeks.
For what looks to be a confirmed rally now in its second week, the number of stocks breaking out to new highs is still disappointing. The new highs list still lacks beef.
I'll be pointing out stocks that break out...we would like to see that number increase in the coming weeks.
Wednesday, October 19, 2011
Stocks take a day off...
Well...no rally in the final 30 minutes this time.
Dow -72
Nas -53
S&P -15 to 1209
Volume was light for most of the day. We have October Options expiration of Friday. It is not uncommon to get some selling on the Wednesday before options expiration as traders sell this months positions and roll into next month's.
Banks, commodities and oils were the main drags on the market today.
Dow -72
Nas -53
S&P -15 to 1209
Volume was light for most of the day. We have October Options expiration of Friday. It is not uncommon to get some selling on the Wednesday before options expiration as traders sell this months positions and roll into next month's.
Banks, commodities and oils were the main drags on the market today.
Stocks weaken as the day wears on...
After holding up well this morning, stocks have turned red this afternoon. Big reversals have occured in the banks and oils, dragging the rest of stocks with them.
At 3:30 pm:
Dow -88
Nas -51
S&P -15 to 1210
Gold and silver are selling off as well.
At 3:30 pm:
Dow -88
Nas -51
S&P -15 to 1210
Gold and silver are selling off as well.
Noon update...
Stocks are mixed, but holding up well at lunchtime.
Dow +26
Nas -15
S&P +1
Banks are starting to slide, Oils are mixed, commodities getting hit hard.
Losers:
Apple (AAPL) -16.83 to 405.39
Amazon (AMZN) -6.77 to 237.17
CF Industries (CF) -2.71 to 145.90
Cliffs Natural Resources (CLF) - 2.28 to 58.96
Gainers:
Intuitive Surgical (ISRG) +42.14 to 424.90
Sears (SHLD) +1.38 to 75.82
Whole Foods (WFM) +2.46 to 71.69
Ulta Cosmetics (ULTA) +2.00 to 70.82
Apollo Group (APOL) +4.35 to 47.68
Dow +26
Nas -15
S&P +1
Banks are starting to slide, Oils are mixed, commodities getting hit hard.
Losers:
Apple (AAPL) -16.83 to 405.39
Amazon (AMZN) -6.77 to 237.17
CF Industries (CF) -2.71 to 145.90
Cliffs Natural Resources (CLF) - 2.28 to 58.96
Gainers:
Intuitive Surgical (ISRG) +42.14 to 424.90
Sears (SHLD) +1.38 to 75.82
Whole Foods (WFM) +2.46 to 71.69
Ulta Cosmetics (ULTA) +2.00 to 70.82
Apollo Group (APOL) +4.35 to 47.68
Best Buy hurt by falling TV prices...
Prices of flat-screen TVs are in free-fall and represent a "significant risk" to Q3 gross margins at Best Buy (BBY), prompting Citigroup analyst Kate McShane to repeat her Sell rating on the shares. "Near-term pressures including a weak product cycle and increasingly price conscious consumers will continue to weigh on the stock in the near term.”
No kidding...these TVs are really getting cheap.
No kidding...these TVs are really getting cheap.
Citigroup and Smith Barney face fraud charges...
The SEC will vote today on a proposed agreement with Citigroup (C +2.2%) to pay more than $200M to settle civil fraud charges related to its sale of a mortgage bond deal, WSJ reports. The SEC has been investigating whether Citigroup misled investors in the deal, a CDO created from other CDOs backed by subprime mortgages.
Citigroup owns the Smith Barney Brokerage firm.
Citigroup owns the Smith Barney Brokerage firm.
DC is wealthiest Metro area...
Federal employees whose compensation averages $126,000 and a heavy concentration of lawyers helps Washington edge out San Jose as the wealthiest U.S. metro area. The typical D.C.-area household earned $84,523 in 2010, vs. the national average $50,046. “There’s a gap that’s isolating Washington from the reality of the rest of the country... They just get more and more out of touch."
Yep - nothing like big government.
Yep - nothing like big government.
Whole Foods jumps on upgrade...
Whole Foods Market (WFM) jumps higher after catching an upgrade to Buy from Jefferies analyst Scott Mushkin on higher earnings expectations. He also raises his price target on shares to $90 from $68 - repping 24% upside potential.
WFM is one of my favorites. It is currently up 3.54 to 72.77
WFM is one of my favorites. It is currently up 3.54 to 72.77
Stocks looking good...
Considering that Apple is down 20 points, this market is holding up extremely well.
Dow +42
Nas -8 (primarily due to Apple)
S&P +4 to 1229
Banks are in full rally mode after Morgan Stanley earnings...Oils are improving as well.
Gold and Silver are down slightly, but seem to have a great deal of resilience in here.
Dow +42
Nas -8 (primarily due to Apple)
S&P +4 to 1229
Banks are in full rally mode after Morgan Stanley earnings...Oils are improving as well.
Gold and Silver are down slightly, but seem to have a great deal of resilience in here.
Today's Upgrades and Downgrades...
These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.
Alcatel-Lucent SA (NYSE: ALU) Cut to Underperform at Jefferies.
Anadarko Petroleum Corporation (NYSE: APC) Started as Overweight at Morgan Stanley.
Intel Corporation (NASDAQ: INTC) Raised target to $30 from $28 at Credit Suisse; Reiterated Hold at Canaccord.
Juniper Networks, Inc. (NYSE: JNPR) Cut to Market Perform at Wells Fargo.
LinkedIn Corporation (NYSE: LNKD) Started as Neutral at Lazard.
NRG Energy, Inc. (NYSE: NRG) named Bear of the Day at Zacks.
Nucor Corporation (NYSE: NUE) Started as Outperform at Wells Fargo.
Steel Dynamics Inc. (NASDAQ: STLD) Started as Market Perform at Wells Fargo.
Steven Madden, Ltd. (NASDAQ: SHOO) Started as Buy at Citigroup.
United States Steel Corporation (NYSE: X) Started as Market Perform at Wells Fargo.
Wal-Mart Stores, Inc. (NYSE: WMT) named Growth & Income stock of the day at Zacks.
Alcatel-Lucent SA (NYSE: ALU) Cut to Underperform at Jefferies.
Anadarko Petroleum Corporation (NYSE: APC) Started as Overweight at Morgan Stanley.
Intel Corporation (NASDAQ: INTC) Raised target to $30 from $28 at Credit Suisse; Reiterated Hold at Canaccord.
Juniper Networks, Inc. (NYSE: JNPR) Cut to Market Perform at Wells Fargo.
LinkedIn Corporation (NYSE: LNKD) Started as Neutral at Lazard.
NRG Energy, Inc. (NYSE: NRG) named Bear of the Day at Zacks.
Nucor Corporation (NYSE: NUE) Started as Outperform at Wells Fargo.
Steel Dynamics Inc. (NASDAQ: STLD) Started as Market Perform at Wells Fargo.
Steven Madden, Ltd. (NASDAQ: SHOO) Started as Buy at Citigroup.
United States Steel Corporation (NYSE: X) Started as Market Perform at Wells Fargo.
Wal-Mart Stores, Inc. (NYSE: WMT) named Growth & Income stock of the day at Zacks.
Morgan Stanley beats estimates...
Morgan Stanley (MS). The bank swung to a $2.15 billion profit in the third quarter, helped by a large accounting gain, even as core revenue in trading, banking and wealth management operations fell. It earned $1.15 per common share, compared with a loss of 7 cents per share in the year-ago quarter.
MS had fallen to 11.58 three weeks ago on rumors that they had too much exposure to the falling Euro. I guess that was a great opportunity to buy. The stock is trading at around $17 premarket.
MS had fallen to 11.58 three weeks ago on rumors that they had too much exposure to the falling Euro. I guess that was a great opportunity to buy. The stock is trading at around $17 premarket.
ISRG blows away estimates...
Intuitive Surgical Inc. (ISRG). The company reported a much higher-than-expected third-quarter profit on increased demand for its da Vinci surgical robots and a rise in procedures using the expensive systems. It posted a net profit of $122 million, or $3.05 per share and revenue for the quarter rose 30 percent to $447 million. July-September net income climbed to $46.3 million, or 41 cents a share, from $41 million, or 35 cents a share a year ago.
ISRG is up 25 to 408 premarket...
ISRG is up 25 to 408 premarket...
Intel raises forecast...
Intel Corp. (INTC). The company forecast quarterly revenue above Wall Street's expectations, defying concerns that tablets and a shaky economy are eating into demand for personal computers. Intel said revenue in the current quarter would be $14.7 billion, plus or minus $500 million. Intel said non-GAAP revenue in the third quarter was $14.3 billion.
Here is Intel's long term chart. Note it is at a key resistance level...a break above 24 would be significant:
Here is Intel's long term chart. Note it is at a key resistance level...a break above 24 would be significant:
CSX meets expectations...
CSX Corp. (CSX). The railroad operator reported a higher quarterly profit in line with forecasts, and said volume was driven up by metals for auto-and energy sector products as well as forest products. Third-quarter net profit of $464 million, or 43 cents per share and revenue rose 11 percent to $2.96 billion.
You have to pay attention to what the transports say, as they give you good insight as to where our economic strengths are...
You have to pay attention to what the transports say, as they give you good insight as to where our economic strengths are...
Cree hurt by increasing competition...
Cree Inc. (CREE). The LED maker reported a steep decline in first-quarter profit that missed Wall Street's expectations as stiff competition hurt pricing and kept inventories high and also forecast a tepid second quarter. Profit for the quarter fell by 78 percent to $12.8 million, or 11 cents per share, from $58 million, or 53 cents per share, in the year-ago period.
CREE is down 1.25 to 26.45 premarket.
CREE is down 1.25 to 26.45 premarket.
Apple miss due to customers waiting for newest version...
Apple Inc. (AAPL). The company stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter. Net profit was $6.62 billion, or $7.05 a share. Apparently, customers held off buying iPhones until the October launch of the latest version.
Stocks to watch today...
Several high profile earnings reports are out this morning, including Dow components Travelers (TRV) and and United Technologies (UTX) and Wall Street giant Morgan Stanley (MS).
We'll also get the latest numbers from Abbott Labs (ABT), Bank of New York Mellon (BK), BlackRock (BLK), PNC (PNC), and Freeport-McMoRan (FCX), among others.
American Express (AXP), eBay (EBAY), E*Trade (ETFC), Xilinx (XLNX), Wynn Resorts (WYNN), and Western Digital (WDC) are among the companies releasing quarterly numbers after today's closing bell.
Apple (AAPL) clearly leads our list of stocks to watch after posting its first quarterly earnings miss since 2004. Apple posted fiscal fourth quarter earnings of $7.05/share, 34 cents below estimates, with revenue also falling short.
Intel (INTC) shares jumped after hours, as the company posted record third quarter profits and gave an upbeat outlook for the fourth quarter.
Yahoo (YHOO) saw third quarter earnings fall 26%, but the stock rose after hours as Yahoo beat the Street's lowered expectations.
Also seeing bullish after-hours activity: Intuitive Surgical (ISRG), as its sales of robotic surgical equipment soared.
We'll also watch shares of JetBlue (JBLU), as chief financial officer Ed Barnes resigns.
Also on the watch list today: Dow component DuPont (DD) and Monsanto (MON), as DuPont sues Monsanto for alleged patent infringement regarding a process that helps genetically modified corn seeds germinate.
One stock we can't yet watch - but may be able to soon - is Groupon. Multiple reports say the daily deal company will launch its IPO roadshow next week, with an initial public offering likely to value the company at $11 - $12 billion.
We'll also get the latest numbers from Abbott Labs (ABT), Bank of New York Mellon (BK), BlackRock (BLK), PNC (PNC), and Freeport-McMoRan (FCX), among others.
American Express (AXP), eBay (EBAY), E*Trade (ETFC), Xilinx (XLNX), Wynn Resorts (WYNN), and Western Digital (WDC) are among the companies releasing quarterly numbers after today's closing bell.
Apple (AAPL) clearly leads our list of stocks to watch after posting its first quarterly earnings miss since 2004. Apple posted fiscal fourth quarter earnings of $7.05/share, 34 cents below estimates, with revenue also falling short.
Intel (INTC) shares jumped after hours, as the company posted record third quarter profits and gave an upbeat outlook for the fourth quarter.
Yahoo (YHOO) saw third quarter earnings fall 26%, but the stock rose after hours as Yahoo beat the Street's lowered expectations.
Also seeing bullish after-hours activity: Intuitive Surgical (ISRG), as its sales of robotic surgical equipment soared.
We'll also watch shares of JetBlue (JBLU), as chief financial officer Ed Barnes resigns.
Also on the watch list today: Dow component DuPont (DD) and Monsanto (MON), as DuPont sues Monsanto for alleged patent infringement regarding a process that helps genetically modified corn seeds germinate.
One stock we can't yet watch - but may be able to soon - is Groupon. Multiple reports say the daily deal company will launch its IPO roadshow next week, with an initial public offering likely to value the company at $11 - $12 billion.
Good Morning....
On Tuesday, stocks shook off modest early losses and closed with solid gains. The S&P 500 added 2%, while the Nasdaq rose 1.6%. Volume increased across the board from Monday's level, but remained below average.
The major indexes picked themselves off their session lows about 10 a.m. ET as an index of homebuilder sentiment topped expectations, though it still signaled pessimism.
Stocks added to their gains in the late afternoon on a report by the U.K.'s Guardian newspaper that France and Germany had agreed to boost the euro zone rescue fund.
However, a Dow Jones report after the market's close raised questions about the Guardian's story.
During the regular session, the main indexes tested key technical levels and passed, at least for now.
The S&P 500 briefly fell below 1200, but recovered.
The major indexes picked themselves off their session lows about 10 a.m. ET as an index of homebuilder sentiment topped expectations, though it still signaled pessimism.
Stocks added to their gains in the late afternoon on a report by the U.K.'s Guardian newspaper that France and Germany had agreed to boost the euro zone rescue fund.
However, a Dow Jones report after the market's close raised questions about the Guardian's story.
During the regular session, the main indexes tested key technical levels and passed, at least for now.
The S&P 500 briefly fell below 1200, but recovered.
Tuesday, October 18, 2011
Apple misses on earnings and revenues....
Apple reported third-quarter earnings of $7.05 a share, on revenue of $28.3 billion.
Analysts, on average, expected Apple to earn $7.22 a share on revenue of $29.5 billion.
Apple has not missed earnings forecasts since the second quarter of 2002, according to FactSet data.
The stock is down to 402 after hours, after closing at 422.24.
iPhone sales came in at 17.07 million, compared with forecasts of 20 million — maybe the most disappointing number.
More to come tomorrow…
Analysts, on average, expected Apple to earn $7.22 a share on revenue of $29.5 billion.
Apple has not missed earnings forecasts since the second quarter of 2002, according to FactSet data.
The stock is down to 402 after hours, after closing at 422.24.
iPhone sales came in at 17.07 million, compared with forecasts of 20 million — maybe the most disappointing number.
More to come tomorrow…
Stocks nervous in last five minutes...
Looks like a little nervousness in the last five minutes as stocks settle off their highs.
Dow +179
Nas +42
S&P +24 to 1225
Pretty solid day ahead of Apple earnings which should affect the market overnight.
Dow +179
Nas +42
S&P +24 to 1225
Pretty solid day ahead of Apple earnings which should affect the market overnight.
Stocks explode to the upside...
Stocks jumped in late afternoon trading on reports that France and Germany have agreed to boost a rescue fund as part of an effort to stem the European debt crisis.
The Dow Jones industrial average is up 234 points, or 2 percent, to 11,631 at 3:50 p.m. Eastern. The Dow added more than 100 points within minutes after the report.
The Standard & Poor's 500 index is up 28 points, or 2.4 percent, to 1,229. The Nasdaq composite is up 48 points, or 1.8 percent, to 2,663.
The Dow Jones industrial average is up 234 points, or 2 percent, to 11,631 at 3:50 p.m. Eastern. The Dow added more than 100 points within minutes after the report.
The Standard & Poor's 500 index is up 28 points, or 2.4 percent, to 1,229. The Nasdaq composite is up 48 points, or 1.8 percent, to 2,663.
Dow moves higher despite selloff in IBM...
IBM is currently down 8.37 to 178.30
IBM's is the highest weighted stock in the price-weighted Dow Jones Industrial Average. It carries 12.39% of the weight, since it is the highest priced of the 30 stocks.
In spite of this the Dow is up 119 points right now...without IBM we would be up nearly 200 points.
IBM's is the highest weighted stock in the price-weighted Dow Jones Industrial Average. It carries 12.39% of the weight, since it is the highest priced of the 30 stocks.
In spite of this the Dow is up 119 points right now...without IBM we would be up nearly 200 points.
Starbucks going Blonde...
Starbucks Corp (SBUX) is going "Blonde," expanding its coffee lineup with its lightest roast to date in a move aimed at wooing more customers and capturing a bigger share of the U.S. coffee market.
The world's biggest coffee company is known for its dark roasts, which have prompted some critics to say the chain's coffee tastes burned. The new, lighter roast unveiled on Tuesday is milder in body and acidity than Starbucks' traditional coffees and the company expects it to appeal to a broad audience.
Mass-market competitors McDonald's Corp (MCD) and Dunkin' Donuts (DNKN) offer milder brewed coffees and in recent years have added lattes, mochas and other sorts of "fancy" espresso drinks popularized by Starbucks.
"We think this is a big opportunity," Jeff Hansberry, president of channel development for Starbucks, told Reuters.
According to Starbucks research, more than 40 percent of U.S. coffee drinkers -- or about 54 million consumers -- prefer a lighter roast coffee.
Additionally, nearly 71 percent of all packaged coffee sales in the grocery aisle are either light or medium roasted coffee.
The world's biggest coffee company is known for its dark roasts, which have prompted some critics to say the chain's coffee tastes burned. The new, lighter roast unveiled on Tuesday is milder in body and acidity than Starbucks' traditional coffees and the company expects it to appeal to a broad audience.
Mass-market competitors McDonald's Corp (MCD) and Dunkin' Donuts (DNKN) offer milder brewed coffees and in recent years have added lattes, mochas and other sorts of "fancy" espresso drinks popularized by Starbucks.
"We think this is a big opportunity," Jeff Hansberry, president of channel development for Starbucks, told Reuters.
According to Starbucks research, more than 40 percent of U.S. coffee drinkers -- or about 54 million consumers -- prefer a lighter roast coffee.
Additionally, nearly 71 percent of all packaged coffee sales in the grocery aisle are either light or medium roasted coffee.
Check out the Banks...
Here are some of the banks that are leading the market today:
Bank of America (BAC) +0.41 to 6.43
Morgan Stanley (MS) +0.61 to 15.85
JP Morgan (JPM) +1.34 to 32.37
Goldman Sachs (GS) +1.93 to 98.87
State Street Bank (STT) +2.20 to 36.07
Citigroup (C) +1.39 to 29.32
Bank of America (BAC) +0.41 to 6.43
Morgan Stanley (MS) +0.61 to 15.85
JP Morgan (JPM) +1.34 to 32.37
Goldman Sachs (GS) +1.93 to 98.87
State Street Bank (STT) +2.20 to 36.07
Citigroup (C) +1.39 to 29.32
Stocks having a nice day...
After an early selloff, stocks have staged a nice comeback. Banks are leading the way on the heels of the Bank of America eanings before the bell.
Dow +79
Nas +15
S&P +12 to 1213
Dow +79
Nas +15
S&P +12 to 1213
Earnings due tomorrow morning...
Notables reporting before the bell tomorrow:
Morgan Stanley (MS) +0.63 to 15.88
American Airlines (AMR) +0.05 to 2.81
United Technologies (UTX) +1.78 to 73.91
Blackrock (BLK) +2.58 to 153.51
Abbott Labs (ABT) -0.06 to 51.97
Morgan Stanley (MS) +0.63 to 15.88
American Airlines (AMR) +0.05 to 2.81
United Technologies (UTX) +1.78 to 73.91
Blackrock (BLK) +2.58 to 153.51
Abbott Labs (ABT) -0.06 to 51.97
Earnings after the bell today...
Companies reporting today and how they are trading ahead of those earnings:
Apple Inc. (AAPL) -2.14 to 417.88
Sonic Restaurants (SONC) +0.05 to 7.17
Intuitive Surgical (ISRG) -5.15 to 382.85
Cree Inc. (CREE) +0.33 to 26.94
Juniper Networks (JNPR) +0.62 to 21.02
CSX Corp. (CSX) +0.60 to 20.99
Apple Inc. (AAPL) -2.14 to 417.88
Sonic Restaurants (SONC) +0.05 to 7.17
Intuitive Surgical (ISRG) -5.15 to 382.85
Cree Inc. (CREE) +0.33 to 26.94
Juniper Networks (JNPR) +0.62 to 21.02
CSX Corp. (CSX) +0.60 to 20.99
Are you ready for McTV???
Coming soon to a McDonald's (MCD +0.4%) near you: McTV replete with HD in-house programming from the McDonald's channel. The company aims to grab its captive audience waiting in line for their burger and fries with niche shows, news, features, and 8 minutes of advertising per hour. McTV will launch in California initially.
What's going on with Pizza???
Domino's Pizza (DPZ) tacks on a 2.3% gain after beating estimates with its Q3 report. Net income rose 33% year over year for the quarter, led by strong international sales. Revenue for stores open at least a year climbed 3% Y/Y in the U.S. and 8.1% globally. Dominoes is hitting new highs.
Pizza Inn (PZZI) is hitting new highs as well.
Pizza Inn (PZZI) is hitting new highs as well.
S&P downgrades Italian banks...
S&P downgrades 24 out of 43 Italian banks it covers as conditions "continue to deteriorate. We do not believe that this difficult operating environment is transitory or that it will be easily reversed."
eBay ups Pay Pal expectations...
eBay Inc. (EBAY). CEO of the company, John Donahoe, increased a key forecast for the company's PayPal payments business during an Internet industry conference on Monday. Donahoe said total payment volume, or TPV, transmitted by mobile devices through PayPal's system will be more than $3.5 billion in 2011, during a discussion on stage at the Web 2.0 Summit in San Francisco.
We talked about this last week...PayPal is the money maker here...
We talked about this last week...PayPal is the money maker here...
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