Friday, January 25, 2008
Honeywell Net Up 18%, Sees Softer Economy
Aerospace titan earns $689 million, or 91¢ a share, as it continues to post strong sales growth though it warns of a "softer" global economy in 2008. Wall Street expected EPS of 91¢. Shares gain 4%.
Caterpillar 4Q Net Jumps 11%, Backs Outlook
Heavy-equipment maker posts net profit of $975 million, or $1.50 a share, driven by strong growth overseas. Revenue rises 10% to $12.14 billion, beating forecasts of $11.79 billion. Dow component says recession-like conditions are developing in the U.S., but believes growth will hold up outside the country and affirms its forecast for a 5% to 15% increase in 2008 earnings. Shares gain 2%.
Microsoft Beats Expectations.....
Microsoft Corp. (MSFT). The Redmond, Washington-based software maker on Thursday said second-quarter earnings almost doubled to $4.71 billion or 50 cents a share from $2.63 billion or 26 cents a share same time last year. Revenue rose 30% to $16.37 billion from $12.54 billion last year on the back of robust holiday sales and enterprise demand. For the third quarter, Microsoft said it expects earnings of 43-45 cents a share and revenue between $14.3-$14.6 billion.
Companies Reporting Earnings Today...
• Caterpillar Inc. (CAT). Expected to report Q4 earnings of $1.50 per share, an increase of 13.41% from the same quarter last year when the company earned $1.32, according to analysts polled by Thomson Financial.
• Commerce Bancorp Inc. (CBH). Expected to report Q4 earnings of $0.30 per share, down 25.50% from the same quarter last year when the company earned $0.40.
• Fortune Brands Inc. (FO). Expected to report Q4 profits of $1.42 per share, an increase of 2.01% from the same quarter last year when the company earned $1.39.
• W.W. Grainger Inc. (GWW). Expected to report Q4 profits of $1.28 per share, an increase of 18.24% from the same quarter last year when the company earned $1.08.
• Commerce Bancorp Inc. (CBH). Expected to report Q4 earnings of $0.30 per share, down 25.50% from the same quarter last year when the company earned $0.40.
• Fortune Brands Inc. (FO). Expected to report Q4 profits of $1.42 per share, an increase of 2.01% from the same quarter last year when the company earned $1.39.
• W.W. Grainger Inc. (GWW). Expected to report Q4 profits of $1.28 per share, an increase of 18.24% from the same quarter last year when the company earned $1.08.
Thursday, January 24, 2008
Daily Summary....
U.S. Market Summary:
Dow +108.44 (+0.88%)
Nasdaq +44.51 (+1.92%)
S&P 500 +13.47 (+1.01%)
News That Moved the Market
Stimulus Plan Set. Markets ended the day higher, as government officials announced President Bush and House members had come to an agreement on the economic stimulus plan. The new plan will give rebates to 117 million American families and help businesses purchase new equipment. Essentially, it will give the average American a $300 rebate, with people earning higher incomes getting less, and families with children getting more. It will also increase the mortgage size Fannie Mae (FNM, -1.7%) and Freddie Mac (FRE, -1.6%) will be allowed to purchase to $625,000 from $417,000, increasing the availability for financing for higher-valued homes. Some investors were disappointed the rebates were not higher, and also questioned why the government was going out of its way to help Americans buy $600,000 homes.
Existing Homes Sales Down, But So Are Inventories. The National Association of Realtors reported existing home sales dropped 2.2% last month, but said unsold home inventories actually decreased. In all, single-family home sales fell 13% last year, the worst drop since 1982.
Nokia Surges on Q4 Performance. Cell phone maker Nokia (NOK, +12.5%) jumped after reporting a 57% increase in earnings and noting strong demand in emerging markets. The company's global market share now stands at 40%.
Rogue Trader at SocGen Loses $7.1 Billion. Societe Generale, the second largest bank in France, surprised the world by announcing a single trader concealed positions and made up transactions leading to a $7.1 billion loss for the bank. When the fraud was discovered, the bank liquidated all positions, but the news created questions about SocGen's risk management controls. SocGen, which trades in Paris, fell 3.7%.
AT&T Reports Higher Profits. AT&T (T, -2.6%) said Thursday Q4 earnings jumped 62%, propelled by acquisitions and wireless growth. The company still had mixed news for its traditional phone service, losing more customers than expected.
Microsoft Jumps in After Hours Trading.Microsoft (MSFT, +4.1%; +5.0% A.H.) pushed futures higher after the close, beating estimates and raising profits and sales targets for the year. Strong sales in Windows and Xbox 360 consoles were key drivers in the solid report.
Tomorrow Notable Earnings:
Caterpillar (CAT)
Honeywell (HON)
Dow +108.44 (+0.88%)
Nasdaq +44.51 (+1.92%)
S&P 500 +13.47 (+1.01%)
News That Moved the Market
Stimulus Plan Set. Markets ended the day higher, as government officials announced President Bush and House members had come to an agreement on the economic stimulus plan. The new plan will give rebates to 117 million American families and help businesses purchase new equipment. Essentially, it will give the average American a $300 rebate, with people earning higher incomes getting less, and families with children getting more. It will also increase the mortgage size Fannie Mae (FNM, -1.7%) and Freddie Mac (FRE, -1.6%) will be allowed to purchase to $625,000 from $417,000, increasing the availability for financing for higher-valued homes. Some investors were disappointed the rebates were not higher, and also questioned why the government was going out of its way to help Americans buy $600,000 homes.
Existing Homes Sales Down, But So Are Inventories. The National Association of Realtors reported existing home sales dropped 2.2% last month, but said unsold home inventories actually decreased. In all, single-family home sales fell 13% last year, the worst drop since 1982.
Nokia Surges on Q4 Performance. Cell phone maker Nokia (NOK, +12.5%) jumped after reporting a 57% increase in earnings and noting strong demand in emerging markets. The company's global market share now stands at 40%.
Rogue Trader at SocGen Loses $7.1 Billion. Societe Generale, the second largest bank in France, surprised the world by announcing a single trader concealed positions and made up transactions leading to a $7.1 billion loss for the bank. When the fraud was discovered, the bank liquidated all positions, but the news created questions about SocGen's risk management controls. SocGen, which trades in Paris, fell 3.7%.
AT&T Reports Higher Profits. AT&T (T, -2.6%) said Thursday Q4 earnings jumped 62%, propelled by acquisitions and wireless growth. The company still had mixed news for its traditional phone service, losing more customers than expected.
Microsoft Jumps in After Hours Trading.Microsoft (MSFT, +4.1%; +5.0% A.H.) pushed futures higher after the close, beating estimates and raising profits and sales targets for the year. Strong sales in Windows and Xbox 360 consoles were key drivers in the solid report.
Tomorrow Notable Earnings:
Caterpillar (CAT)
Honeywell (HON)
Deal Completed for Tax Rebates in June....
Congressional leaders completed a deal Thursday with the White House on an economic stimulus package that would give most tax filers refunds of $600 to $1,200, and more if they have children.
House Speaker Nancy Pelosi and Republican Leader John Boehner scheduled a news conference for 1:30 p.m. EST to announce the $150 billion package, hammered out in a week of intense negotiations with Treasury Secretary Henry Paulson. Congressional aides, speaking on condition of anonymity because the deal had not yet been announced, said they hope the checks could go out as early as June.
Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the deal. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.
The rebate part of the plan would cost about $100 billion, aides said. The package also includes close to $50 billion in business tax cuts.
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.
House Speaker Nancy Pelosi and Republican Leader John Boehner scheduled a news conference for 1:30 p.m. EST to announce the $150 billion package, hammered out in a week of intense negotiations with Treasury Secretary Henry Paulson. Congressional aides, speaking on condition of anonymity because the deal had not yet been announced, said they hope the checks could go out as early as June.
Individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the deal. Workers who make at least $3,000 but don't pay taxes would get $300 rebates.
The rebate part of the plan would cost about $100 billion, aides said. The package also includes close to $50 billion in business tax cuts.
The rebates would phase out gradually for individuals whose income exceeds $75,000 and couples with incomes above $150,000, aides said. Individuals with incomes up to $87,000 and couples up to $174,000 would get partial rebates. The caps rise higher for individuals and couples with children.
Companies Reporting Earnings Today...
• Amgen Inc. (AMGN). Expected to report Q4 earnings of $0.97 per share, an increase of 7.67% from the same quarter last year when the company earned $0.90.
• AT&T Inc. (T). Expected to report Q4 earnings of $0.71 per share per share, an increase of 16.56% from the same quarter last year when the company earned $0.61.
• Broadcom Corp. (BRCM). Expected to report Q4 earnings of $0.32 per share, up 2.90% from the same quarter last year when the company earned $0.31.
• Consolidated Edison Inc. (ED). Expected to report Q4 earnings of $0.61 per share, down 21.54% from the same quarter last year when the company earned $0.78.
• E-Trade Financial Corp. (ETFC). Expected to report Q4 loss of $2.91 per share.
• Kimberly-Clark Corp. (KMB). Expected to report Q4 earnings of $1.11 per share, an increase of 8.06% from the same quarter last year when the company earned $1.03.
• Microsoft Corp. (MSFT). Expected to report Q2 earnings of $0.46 a share, up 75.77% from the same quarter last year when the company earned $0.26.
• Northrop Grumman Corp. (NOC). Expected to report Q4 earnings of $1.31 per share, up 1.78% from the same quarter last year when the company earned $1.29.
• Sun Microsystems Inc. (JAVA). Expected to report Q2 earnings of $0.30 per share, up 86.88% from the same quarter last year when the company earned $0.16.
• Union Pacific Corp. (UNP). Expected to report Q4 earnings of $1.77 per share, down 0.67% from the same quarter last year when the company earned $1.78.
• US Airways Group (LCC). Expected to report Q4 loss of $0.76 per share.
• AT&T Inc. (T). Expected to report Q4 earnings of $0.71 per share per share, an increase of 16.56% from the same quarter last year when the company earned $0.61.
• Broadcom Corp. (BRCM). Expected to report Q4 earnings of $0.32 per share, up 2.90% from the same quarter last year when the company earned $0.31.
• Consolidated Edison Inc. (ED). Expected to report Q4 earnings of $0.61 per share, down 21.54% from the same quarter last year when the company earned $0.78.
• E-Trade Financial Corp. (ETFC). Expected to report Q4 loss of $2.91 per share.
• Kimberly-Clark Corp. (KMB). Expected to report Q4 earnings of $1.11 per share, an increase of 8.06% from the same quarter last year when the company earned $1.03.
• Microsoft Corp. (MSFT). Expected to report Q2 earnings of $0.46 a share, up 75.77% from the same quarter last year when the company earned $0.26.
• Northrop Grumman Corp. (NOC). Expected to report Q4 earnings of $1.31 per share, up 1.78% from the same quarter last year when the company earned $1.29.
• Sun Microsystems Inc. (JAVA). Expected to report Q2 earnings of $0.30 per share, up 86.88% from the same quarter last year when the company earned $0.16.
• Union Pacific Corp. (UNP). Expected to report Q4 earnings of $1.77 per share, down 0.67% from the same quarter last year when the company earned $1.78.
• US Airways Group (LCC). Expected to report Q4 loss of $0.76 per share.
AT&T Net Jumps 62% on Wireless Gains...
Earnings climb to $3.14 billion, or 51¢ a share, helped by strength in its wireless business, which adds 2.68 million subscribers. Subscriber-growth slows markedly in its broadband and video segments.
Potash (POT) Posts Record Earnings....
Potash Corp. of Saskatchewan (POT) posted its highest quarterly profit on record in the fourth quarter and sees first-quarter and 2008 earnings well above expectations as the fertilizer maker increased prices amid rising demand for its products. Saskatoon, Saskatchewan-based Potash posted net income of $376.8 million, or $1.16 a share, up from $186 million, or 58 cents a share, a year earlier.
The latest quarter's results include a $26.5 million charge related to investments and a $35.4 million decrease in income-tax expense and future tax liability. Prior-year results included $31 million in income-tax and foreign-currency gains.
Revenue surged 40% to $1.43 billion. The mean estimates of analysts polled by Thomson Financial were for earnings of 98 cents a share on $1.24 billion in revenue. Gross margin rose to 37.4% from 29.3%.
Potash is up 10 premarket to $130. The stock is down from a high of $152 hit on January 15.
The latest quarter's results include a $26.5 million charge related to investments and a $35.4 million decrease in income-tax expense and future tax liability. Prior-year results included $31 million in income-tax and foreign-currency gains.
Revenue surged 40% to $1.43 billion. The mean estimates of analysts polled by Thomson Financial were for earnings of 98 cents a share on $1.24 billion in revenue. Gross margin rose to 37.4% from 29.3%.
Potash is up 10 premarket to $130. The stock is down from a high of $152 hit on January 15.
Treasury Yields Spike Higher....
This morning, the yield on the 10-year Treasury note is spiking higher to 3.58%. The yield bottomed out yesterday at 3.28%. That is a big move for Treasury yields.
Yields fell for two reasons:
1. a flight to safety...as the stock market sold off over the past three weeks
2. in response to talk that the economy is slipping into a recession.
This morning...the spike higher in rates means money is coming back out of "safe" treasury investments...into the stock market. Let's keep an eye on yields, as a move higher would be more healthy for stocks.
Yields fell for two reasons:
1. a flight to safety...as the stock market sold off over the past three weeks
2. in response to talk that the economy is slipping into a recession.
This morning...the spike higher in rates means money is coming back out of "safe" treasury investments...into the stock market. Let's keep an eye on yields, as a move higher would be more healthy for stocks.
Wal-Mart to get into Pharmacy Benefit Management Business???
In a speech Wednesday before 7,000 Wal-Mart store managers at a meeting in Kansas City, Mo., Chief Executive Lee Scott said Wal-Mart is initiating a pilot program to help "select employers ... manage how they process and pay prescription claims."
Pharmacy-benefit managers, or PBMs, are the companies behind the cards that insured patients present at drugstores in order to fill their prescriptions. Most U.S. employers contract with PBMs to provide prescription drug coverage to their workers, and in exchange, the PBMs promise to negotiate lower prices from retail pharmacies and obtain rebates from drug manufacturers. PBMs also own their own mail-order pharmacies, and increasingly make much of their profits from big mark-ups on generic drugs. A record number of blockbuster drugs are going generic, fueling strong profits and rising revenues among the PBMs.
CVS Caremark Corp. (CVS) is expected to report revenue of $76.13 billion for 2007, while Medco Health Solutions Inc. (MHS) is expected to post revenue of $44.7 billion and Express Scripts Inc. (ESRX) $18.4 billion, according to Morgan Stanley. Combined, the three companies processed or filled 387 million prescriptions in the third quarter of 2007.
Wal-Mart could take a chunk of that.
Pharmacy-benefit managers, or PBMs, are the companies behind the cards that insured patients present at drugstores in order to fill their prescriptions. Most U.S. employers contract with PBMs to provide prescription drug coverage to their workers, and in exchange, the PBMs promise to negotiate lower prices from retail pharmacies and obtain rebates from drug manufacturers. PBMs also own their own mail-order pharmacies, and increasingly make much of their profits from big mark-ups on generic drugs. A record number of blockbuster drugs are going generic, fueling strong profits and rising revenues among the PBMs.
CVS Caremark Corp. (CVS) is expected to report revenue of $76.13 billion for 2007, while Medco Health Solutions Inc. (MHS) is expected to post revenue of $44.7 billion and Express Scripts Inc. (ESRX) $18.4 billion, according to Morgan Stanley. Combined, the three companies processed or filled 387 million prescriptions in the third quarter of 2007.
Wal-Mart could take a chunk of that.
BUY: Stryker Corp. (SYK)
Stryker Corp. (SYK). The Kalamazoo, Mich-based medical device maker said late Wednesday fourth-quarter net income rose to $276.1 million, or 66 cents a share, from $227.9 million, or 55 cents a share, a year earlier, due in part to increased sales. The medical technology company's sales rose to $1.66 billion from $1.4 billion a year earlier.
The company expects 2008 earnings from continuing operations of about $2.88. The company added it remains optimistic about growth in the orthopedic market and expects to meet analysts' profit forecasts this year.
Stryker has been a consistent performer since it broke out of a two year base late in 2006. The stock trades currently at $67.....down from a high of $76.89. The company make orthopedic implants and artificial knee and shoulder joints... As Baby Boomers age, and their joints start to fail from years of workouts...Stryker should benefit.
The company expects 2008 earnings from continuing operations of about $2.88. The company added it remains optimistic about growth in the orthopedic market and expects to meet analysts' profit forecasts this year.
Stryker has been a consistent performer since it broke out of a two year base late in 2006. The stock trades currently at $67.....down from a high of $76.89. The company make orthopedic implants and artificial knee and shoulder joints... As Baby Boomers age, and their joints start to fail from years of workouts...Stryker should benefit.
Wednesday, January 23, 2008
Daily Summary....
U.S. Markets
Dow +298.98 (+2.50%)
Nasdaq +24.14 (+1.05%)
S&P 500 +28.10 (+2.14%)
News That Moved the Market
Regulators Meet to Save Bond Insurers. The markets rallied Wednesday on solid volume. One of the catalysts for the move was news that U.S. banks were meeting with New York State insurance regulators in an effort to sure up funds for struggling bond insurers. The new capital would help bond insurers keep their AAA ratings. Ratings downgrades could spark another panic and oversupply in the credit market, as well as push banks profits even lower. Bond insurers like MBIA (MBI, +32.6%) and Ambac (ABK, +71.9%) jumped on the news and the previously weak financial sector led Wednesday's rally.
Apple Drags Down Tech. The tech sector underperformed mainly because of last night's Apple (AAPL, -10.7%) earnings report, which beat estimates, but offered a disappointing forecast.
Pfizer Back on Track. Pfizer (PFE, +2.8%) announced fourth-quarter earnings that beat expectations and surprised the Street by upping its 2008 outlook.
Ebay's CEO Steps Down; Outlook Disappoints. Ebay's (EBAY, 6.7% day; -8.3% A.H.) CEO Meg Whitman announced she will retire and be replaced internally by John Donohoe. Ebay also reported a 53% increase in sales after the bell, but was down in after hours trading because of a gloomy 2008 outlook.
Tomorrow:
Notable Earnings:
Amgen (AMGN)
AT&T (T)
Ford (F)
Microsoft (MSFT)
Nokia (NOK)
8:30 AM: Jobless Claims
10:00 AM: Existing Home Sales
10:30 AM: Crude Inventories
Dow +298.98 (+2.50%)
Nasdaq +24.14 (+1.05%)
S&P 500 +28.10 (+2.14%)
News That Moved the Market
Regulators Meet to Save Bond Insurers. The markets rallied Wednesday on solid volume. One of the catalysts for the move was news that U.S. banks were meeting with New York State insurance regulators in an effort to sure up funds for struggling bond insurers. The new capital would help bond insurers keep their AAA ratings. Ratings downgrades could spark another panic and oversupply in the credit market, as well as push banks profits even lower. Bond insurers like MBIA (MBI, +32.6%) and Ambac (ABK, +71.9%) jumped on the news and the previously weak financial sector led Wednesday's rally.
Apple Drags Down Tech. The tech sector underperformed mainly because of last night's Apple (AAPL, -10.7%) earnings report, which beat estimates, but offered a disappointing forecast.
Pfizer Back on Track. Pfizer (PFE, +2.8%) announced fourth-quarter earnings that beat expectations and surprised the Street by upping its 2008 outlook.
Ebay's CEO Steps Down; Outlook Disappoints. Ebay's (EBAY, 6.7% day; -8.3% A.H.) CEO Meg Whitman announced she will retire and be replaced internally by John Donohoe. Ebay also reported a 53% increase in sales after the bell, but was down in after hours trading because of a gloomy 2008 outlook.
Tomorrow:
Notable Earnings:
Amgen (AMGN)
AT&T (T)
Ford (F)
Microsoft (MSFT)
Nokia (NOK)
8:30 AM: Jobless Claims
10:00 AM: Existing Home Sales
10:30 AM: Crude Inventories
Market Rallies to close higher.....
Dow + 298
S&P + 28
Nasdaq +24
News that the State of New York Insurers Association was in discussions to bail out major bond insurers, sent the market sharply higher in the last hour of trading. The downgrade of Ambac by Fitch last Friday is one of the main reasons we sold off hard on Tuesday across the globe.
As I said earlier, we were severely oversold, and some sort of good news was needed to turn the direction of the market. This news did the trick. Now, we need to see a follow thru rally tomorrow to at least start to close the chapter in this worst January selloff ever.
We're not out of the woods yet...by any means...but this was a start.
EBay out with earnings after the bell. Right now, the stock is down about 8%.
More later.
S&P + 28
Nasdaq +24
News that the State of New York Insurers Association was in discussions to bail out major bond insurers, sent the market sharply higher in the last hour of trading. The downgrade of Ambac by Fitch last Friday is one of the main reasons we sold off hard on Tuesday across the globe.
As I said earlier, we were severely oversold, and some sort of good news was needed to turn the direction of the market. This news did the trick. Now, we need to see a follow thru rally tomorrow to at least start to close the chapter in this worst January selloff ever.
We're not out of the woods yet...by any means...but this was a start.
EBay out with earnings after the bell. Right now, the stock is down about 8%.
More later.
Noon Update....
Dow - 165
S&P - 23
Nasdaq -60
This is ugly a selloff as I've ever seen and it all started on a whim, as traders decided to sell off stocks and take profits beginning on December 27.
The idiots on TV are saying that they want to see a complete washout of 600+ points in one day. That's a bunch of Bull. We've seen the market drop almost 2,000 points from this created hysteria. Enough is enough.
At some point the traders who have willed the market to crash will turn and go long. Not sure when that happens but I think it is soon.
S&P - 23
Nasdaq -60
This is ugly a selloff as I've ever seen and it all started on a whim, as traders decided to sell off stocks and take profits beginning on December 27.
The idiots on TV are saying that they want to see a complete washout of 600+ points in one day. That's a bunch of Bull. We've seen the market drop almost 2,000 points from this created hysteria. Enough is enough.
At some point the traders who have willed the market to crash will turn and go long. Not sure when that happens but I think it is soon.
Another critical day for the Market....
Dow opened -260 currently -110
S&P opened -32 currently - 15
Nasdaq opened -68 currently -32
This negativity needs to stop today. We need to rally and close higher or I fear the panic will really start to set in.
S&P opened -32 currently - 15
Nasdaq opened -68 currently -32
This negativity needs to stop today. We need to rally and close higher or I fear the panic will really start to set in.
Earnings the Rest of this Week...
Wednesday
Abbott Laboratories (ABT) 4Q .92 BMO
Brinker Intl Inc. (EAT) 2Q .33 BMO
Capital One Fincl Corp. (COF) 4Q .90 4:05PM
Coach Inc. (COH) 2Q .69
ConocoPhillips (COP) 4Q 2.37 8:30AM
Delta Air Lines Inc. (DAL) 4Q (.13)
eBay Inc. (EBAY) 4Q .38
Freeport-McMoRan Copper & Gold Inc. (FCX) 4Q 1.76 BMO
General Dynamics Corp. (GD) 4Q 1.41
Gilead Sciences Inc. (GILD) 4Q .41 4:05PM
LSI Corp. (LSI) 4Q .06 AMC
Motorola Inc. (MOT) 4Q .12 7:00AM
Netflix Inc. (NFLX) 4Q .13
QLogic Corp. (QLGC) 3Q .23 AMC
QUALCOMM Inc. (QCOM) 1Q .49 4:00PM
SLM Corp. (SLM) 4Q .39 BMO
Southwest Airlines Co. (LUV) 4Q .11 BMO
St. Jude Medical Inc. (STJ) 4Q .49 8:00AM
Stryker Corp. (SYK) 4Q .66 4:00PM
SunTrust Banks Inc. (STI) 4Q .42 BMO
United Tech Corp. (UTX) 4Q 1.07 BMO
WellPoint Inc. (WLP) 4Q 1.50 6:00AM
Western Digital Corp. (WDC) 2Q 1.00 AMC
Thursday
American Express Co. (AXP) 4Q .74
Amgen Inc. (AMGN) 4Q .96
AT&T Inc. (T) 4Q .71 8:00AM
Baxter Intl Inc. (BAX) 4Q .75
Beazer Homes USA Inc. (BZH) 1Q (1.86)
Becton Dickinson & Co. (BDX) 1Q 1.03
Broadcom Corp. (BRCM) 4Q .28 AMC
Cooper Indus Inc. (CBE) 4Q .82 BMO
E*TRADE Fincl Corp. (ETFC) 4Q (3.15) AMC
Eastman Chemical Co. (EMN) 4Q 1.06 5:00PM
Ford Motor Co. (F) 4Q (.22) 7:00AM
Hershey Co. (HSY) 4Q .56
Juniper Networks Inc. (JNPR) 4Q .22 AMC
Kimberly-Clark Corp. (KMB) 4Q 1.11
Lockheed Martin Corp. (LMT) 4Q 1.70
Nokia Corp. (ADR) (NOK) 4Q .61 6:00AM
Northrop Grumman Corp. (NOC) 4Q 1.31
Nucor Corp. (NUE) 4Q 1.20
Potash Corp. of Saskatchewan Inc. (POT) 4Q .97
Sun MicroSyss Inc. (JAVA) 2Q .30
SunPower Corp. (SPWR) 4Q .35
Union Pacific Corp. (UNP) 4Q 1.79 8:45AM
US Airways Grp Inc. (LCC) 4Q (.16)
Xerox Corp. (XRX) 4Q .41 7:00AM
Friday
AirTran Hldgs Inc. (AAI) 4Q .03
Caterpillar Inc. (CAT) 4Q 1.49 7:30AM
Fortune Brands Inc. (FO) 4Q 1.44
Harley-Davidson Inc. (HOG) 4Q .81 BMO
Harman Intl Indus Inc. (HAR) 2Q .76
Honeywell Intl Inc. (HON) 4Q .91 BMO
IDEXX Laboratories Inc. (IDXX) 4Q .36 7:00AM
ImClone Syss Inc. (IMCL) 4Q .28
Weatherford Intl Ltd. (WFT) 4Q .96
Abbott Laboratories (ABT) 4Q .92 BMO
Brinker Intl Inc. (EAT) 2Q .33 BMO
Capital One Fincl Corp. (COF) 4Q .90 4:05PM
Coach Inc. (COH) 2Q .69
ConocoPhillips (COP) 4Q 2.37 8:30AM
Delta Air Lines Inc. (DAL) 4Q (.13)
eBay Inc. (EBAY) 4Q .38
Freeport-McMoRan Copper & Gold Inc. (FCX) 4Q 1.76 BMO
General Dynamics Corp. (GD) 4Q 1.41
Gilead Sciences Inc. (GILD) 4Q .41 4:05PM
LSI Corp. (LSI) 4Q .06 AMC
Motorola Inc. (MOT) 4Q .12 7:00AM
Netflix Inc. (NFLX) 4Q .13
QLogic Corp. (QLGC) 3Q .23 AMC
QUALCOMM Inc. (QCOM) 1Q .49 4:00PM
SLM Corp. (SLM) 4Q .39 BMO
Southwest Airlines Co. (LUV) 4Q .11 BMO
St. Jude Medical Inc. (STJ) 4Q .49 8:00AM
Stryker Corp. (SYK) 4Q .66 4:00PM
SunTrust Banks Inc. (STI) 4Q .42 BMO
United Tech Corp. (UTX) 4Q 1.07 BMO
WellPoint Inc. (WLP) 4Q 1.50 6:00AM
Western Digital Corp. (WDC) 2Q 1.00 AMC
Thursday
American Express Co. (AXP) 4Q .74
Amgen Inc. (AMGN) 4Q .96
AT&T Inc. (T) 4Q .71 8:00AM
Baxter Intl Inc. (BAX) 4Q .75
Beazer Homes USA Inc. (BZH) 1Q (1.86)
Becton Dickinson & Co. (BDX) 1Q 1.03
Broadcom Corp. (BRCM) 4Q .28 AMC
Cooper Indus Inc. (CBE) 4Q .82 BMO
E*TRADE Fincl Corp. (ETFC) 4Q (3.15) AMC
Eastman Chemical Co. (EMN) 4Q 1.06 5:00PM
Ford Motor Co. (F) 4Q (.22) 7:00AM
Hershey Co. (HSY) 4Q .56
Juniper Networks Inc. (JNPR) 4Q .22 AMC
Kimberly-Clark Corp. (KMB) 4Q 1.11
Lockheed Martin Corp. (LMT) 4Q 1.70
Nokia Corp. (ADR) (NOK) 4Q .61 6:00AM
Northrop Grumman Corp. (NOC) 4Q 1.31
Nucor Corp. (NUE) 4Q 1.20
Potash Corp. of Saskatchewan Inc. (POT) 4Q .97
Sun MicroSyss Inc. (JAVA) 2Q .30
SunPower Corp. (SPWR) 4Q .35
Union Pacific Corp. (UNP) 4Q 1.79 8:45AM
US Airways Grp Inc. (LCC) 4Q (.16)
Xerox Corp. (XRX) 4Q .41 7:00AM
Friday
AirTran Hldgs Inc. (AAI) 4Q .03
Caterpillar Inc. (CAT) 4Q 1.49 7:30AM
Fortune Brands Inc. (FO) 4Q 1.44
Harley-Davidson Inc. (HOG) 4Q .81 BMO
Harman Intl Indus Inc. (HAR) 2Q .76
Honeywell Intl Inc. (HON) 4Q .91 BMO
IDEXX Laboratories Inc. (IDXX) 4Q .36 7:00AM
ImClone Syss Inc. (IMCL) 4Q .28
Weatherford Intl Ltd. (WFT) 4Q .96
Traders in Control....
This market is now feeding on itself. As we mentioned last week, it was important that the Fed act IMMEDIATELY to stem the shift in sentiment. They waited too long.....now they have no respect from the Traders.
We are now completely at the mercy of Hedge Funds and Traders who enjoy selling the market off...because they are short. I had feared the fact that over the past five years, the number of Hedge Funds increased exponentially as did the number of Exchange Traded Funds that enable traders to sell off multiple stocks with a single trade. This is why.
Now...the world economy is all of a sudden collapsing??? Yeah, right. This is a joke, but unfortunately you can lose alot of money as a result. We need some good news to turn this around. Apple's warning didn't help at all. Microsoft is the next big name to announce earnings....on Thursday.
We are now completely at the mercy of Hedge Funds and Traders who enjoy selling the market off...because they are short. I had feared the fact that over the past five years, the number of Hedge Funds increased exponentially as did the number of Exchange Traded Funds that enable traders to sell off multiple stocks with a single trade. This is why.
Now...the world economy is all of a sudden collapsing??? Yeah, right. This is a joke, but unfortunately you can lose alot of money as a result. We need some good news to turn this around. Apple's warning didn't help at all. Microsoft is the next big name to announce earnings....on Thursday.
Before the Bell.....
U.S. stock futures are trading lower this morning after a disappointing outlook from Apple stoked concerns about a slowdown in consumer spending in a market that remains unconvinced that yesterday's surprise interest rate cut from the Federal Reserve can stave off a recession.
Elsewhere, Europe's leading exchanges edged higher in opening trade, helped by gains in the insurance sector on merger and acquisition talk surrounding Swiss Re and Prudential. But investors remained cautious as they continue to assess the implications of the U.S. Federal Reserve's interest rate cut.
Elsewhere, Europe's leading exchanges edged higher in opening trade, helped by gains in the insurance sector on merger and acquisition talk surrounding Swiss Re and Prudential. But investors remained cautious as they continue to assess the implications of the U.S. Federal Reserve's interest rate cut.
Subscribe to:
Posts (Atom)
