Stocks are moving higher again.
Dow +114
Nas +25
S&P +13 to 1217
Leaders:
Apple +9.84 to 421.40
Priceline +20.54 to 551
Green Mountain +2.88 to 114.50
IBM +2.93 to 176
Perrigo +1.60 to 98.04
Jazz Pharmaceutical +3.11 to 46.85
Carbo Ceramics +2.71 to 156.39
Netflix is down another 10 to 133.75
Tuesday, September 20, 2011
Caterpillar global sales up...
Caterpillar (CAT +0.9%) says global sales in its bread-and-butter construction machinery segment rose 34%, headlining a strong sales report that shows gains in all global markets. Dealer-reported machines sales in North America came in on the low end at 30% Y/Y, down from 50% just 2 months ago. Analysts expects tough comparable to start dampening sales growth figures heading into the fall.
Today's Upgrades and Downgrades...
These are some of this Tuesday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.
Alon USA Energy, Inc. (NYSE: ALJ) is the value stock of the day at Zacks.
Apache Corp. (NYSE: APA) Started as Buy at Deutsche Bank.
Carbonite, Inc. (NASDAQ: CARB) Started as Buy at Canaccord Genuity; Started as Outperform at Oppenheimer; Started as Outperform at William Blair; Started as Buy at BofA/ML.
Chesapeake Energy Corporation (NYSE: CHK) Started as Hold at Deutsche Bank.
Devon Energy Corporation (NYSE: DVN) Started as Hold at Deutsche Bank.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) Cut to Neutral at Credit Suisse.
Logitech International SA (NASDAQ: LOGI) Cut to Sell at Goldman Sachs.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Cut to Market Perform at JMP Securities.
MGM Resorts International (NYSE: MGM) Raised to Overweight at Morgan Stanley.
Molycorp, Inc. (NYSE: MCP) Cut to Neutral at JPMorgan.
Mosaic Co. (NYSE: MOS) Raised to Sector Outperform at CIBC.
PulteGroup, Inc. (NYSE: PHM) Raised to Buy at UBS.
SandRidge Permian Trust (NYSE: PER) Started as Outperform at Oppenheimer; Started as Market Weight at Wells Fargo; Started as Outperform at Baird.
SAP AG (NYSE: SAP) Raised to Outperform at Wells Fargo.
SM Energy Co. (NYSE: SM) named Bull of the Day at Zacks.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Buy at Goldman Sachs.
VMware, Inc. (NYSE: VMW) Started as Buy at Merriman (Monday night).
Alon USA Energy, Inc. (NYSE: ALJ) is the value stock of the day at Zacks.
Apache Corp. (NYSE: APA) Started as Buy at Deutsche Bank.
Carbonite, Inc. (NASDAQ: CARB) Started as Buy at Canaccord Genuity; Started as Outperform at Oppenheimer; Started as Outperform at William Blair; Started as Buy at BofA/ML.
Chesapeake Energy Corporation (NYSE: CHK) Started as Hold at Deutsche Bank.
Devon Energy Corporation (NYSE: DVN) Started as Hold at Deutsche Bank.
JinkoSolar Holding Co., Ltd. (NYSE: JKS) Cut to Neutral at Credit Suisse.
Logitech International SA (NASDAQ: LOGI) Cut to Sell at Goldman Sachs.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Cut to Market Perform at JMP Securities.
MGM Resorts International (NYSE: MGM) Raised to Overweight at Morgan Stanley.
Molycorp, Inc. (NYSE: MCP) Cut to Neutral at JPMorgan.
Mosaic Co. (NYSE: MOS) Raised to Sector Outperform at CIBC.
PulteGroup, Inc. (NYSE: PHM) Raised to Buy at UBS.
SandRidge Permian Trust (NYSE: PER) Started as Outperform at Oppenheimer; Started as Market Weight at Wells Fargo; Started as Outperform at Baird.
SAP AG (NYSE: SAP) Raised to Outperform at Wells Fargo.
SM Energy Co. (NYSE: SM) named Bull of the Day at Zacks.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Buy at Goldman Sachs.
VMware, Inc. (NYSE: VMW) Started as Buy at Merriman (Monday night).
Housing Starts slow...
August Housing Starts: -5% to 571K vs. 590K expected and 601K (revised) last month.
Permits +3% to 620K vs. 590K expected and 601K (revised) last month.
Permits +3% to 620K vs. 590K expected and 601K (revised) last month.
CNBC Portfolio Challenge begins...
It's the biggest, richest Million Dollar Portfolio Challenge ever!
This is your chance to win a cool $1,000,000 a Maserati GranTurismo Convertible Sport and 10 Exotic One & Only and Atlantis Resort vacations. All you need to do is sign-in/register with a CNBC.com account below; then on September 19th you can play with up to 5 different portfolios. Each with $1,000,000 CNBC Bucks - $100,000 for trading currencies and $900,000 for trading stocks and ETFs on the AMEX, ASX, LSE, NASDAQ and NYSE in real-time!
Here is the link if you want to play:
http://milliondollar.cnbc.com/
This is your chance to win a cool $1,000,000 a Maserati GranTurismo Convertible Sport and 10 Exotic One & Only and Atlantis Resort vacations. All you need to do is sign-in/register with a CNBC.com account below; then on September 19th you can play with up to 5 different portfolios. Each with $1,000,000 CNBC Bucks - $100,000 for trading currencies and $900,000 for trading stocks and ETFs on the AMEX, ASX, LSE, NASDAQ and NYSE in real-time!
Here is the link if you want to play:
http://milliondollar.cnbc.com/
Good Morning....
Futures are up this morning following what I would call a positive day yesterday in the market. Though the verages were lower, it is clear that funds were putting money to work, buying up shares of the recent market leaders.
The Federal Reserve begins a two-day policy meeting today, a gathering that was originally scheduled to be just one day. That means an exception from the Fed's new policy of holding a news conference following two-day meetings.
A handful of notable earnings will be out before the opening bell, with AutoZone (AZO), Conagra (CAG), and Carnival (CCL) set to report.
After the bell today, we get earnings reports from Oracle (ORCL) and Adobe Systems (ADBE)
The Federal Reserve begins a two-day policy meeting today, a gathering that was originally scheduled to be just one day. That means an exception from the Fed's new policy of holding a news conference following two-day meetings.
A handful of notable earnings will be out before the opening bell, with AutoZone (AZO), Conagra (CAG), and Carnival (CCL) set to report.
After the bell today, we get earnings reports from Oracle (ORCL) and Adobe Systems (ADBE)
Monday, September 19, 2011
Strange day ends...most of our stocks were up....
The averages didn't have a great day, but some of the more popular names we have been talking about were higher.
Dow - 108 to 11401
Nas -9 to 2612
S&P -12 to 1204
Bucking the trend:
Apple +11.13 to a new high of 411.63
Chipotle (CMG) +18.08 to a new high of 336.14
Amazon (AMZN) +2.39 to new high of 241.69
Universal Display (PANL) +2.76 to 58.36
Mako Surgical (MAKO) +4.21 to new high of 40.48
Green Mountain (GMCR) +3.63 to 111.62
Lululemon (LULU) +2.95 to 60.71
Priceline (PCLN) +5.98 to 531.45
Whole Foods (WFM) +3.05 to 72.10
Oils, banks, commodities and Gold were down on the day.
Netflix (NFLX) had opened 7 points higher, closed down 11 for the day.
Dow - 108 to 11401
Nas -9 to 2612
S&P -12 to 1204
Bucking the trend:
Apple +11.13 to a new high of 411.63
Chipotle (CMG) +18.08 to a new high of 336.14
Amazon (AMZN) +2.39 to new high of 241.69
Universal Display (PANL) +2.76 to 58.36
Mako Surgical (MAKO) +4.21 to new high of 40.48
Green Mountain (GMCR) +3.63 to 111.62
Lululemon (LULU) +2.95 to 60.71
Priceline (PCLN) +5.98 to 531.45
Whole Foods (WFM) +3.05 to 72.10
Oils, banks, commodities and Gold were down on the day.
Netflix (NFLX) had opened 7 points higher, closed down 11 for the day.
Noon Update....
The averages are still lower, but many stocks moving individually to the upside:
Dow -190
Nas -24
S&P -19 to 1196
Bucking the trend:
Apple +8 to 408.50
Chipotle +12 to 330.36
Panera +1.52 to 114.40
Green Mountain +3.22 to 111.20
Mako Surgical +2.14 to 38.41
Mastercard +2.79 to 349.74
Ulta +1.64 to 72.10
Netflix has reversed and is now down 3.55 to 151.65
Dow -190
Nas -24
S&P -19 to 1196
Bucking the trend:
Apple +8 to 408.50
Chipotle +12 to 330.36
Panera +1.52 to 114.40
Green Mountain +3.22 to 111.20
Mako Surgical +2.14 to 38.41
Mastercard +2.79 to 349.74
Ulta +1.64 to 72.10
Netflix has reversed and is now down 3.55 to 151.65
At 10:50 am...
The averages are still lower, but traders are moving into some familiar names.
Dow -226
Nas -47
S&P -24 to 1191
Netflix +7.05
Chipotle +9.07
Deckers +0.93
Lululemon +0.93
Ulta +1.32
Mako +1.81
Dow -226
Nas -47
S&P -24 to 1191
Netflix +7.05
Chipotle +9.07
Deckers +0.93
Lululemon +0.93
Ulta +1.32
Mako +1.81
Art Cashin doesn't like Obama's proposal...
Art Cashin's take on Pres. Obama's proposed millionaire tax probably sums up Wall Street's view: "After the 1929 crash, Congress proceeded to raise the top marginal tax rate from 25% to 63% by the end of Hoover’s term... Hiking those rates may have made folks feel that rates were more equitable, but it sure didn’t help the economy."
At 10:15 am....
Stocks are selling off across the board.
Dow -247
Nas -55
S&P -26 to 1189
Gold opened higher but is now selling off as well.
Netflix +5.81 on split up news
MAKO up 1.23 on new robotic technique
all 30 Dow stocks are lower
Dow -247
Nas -55
S&P -26 to 1189
Gold opened higher but is now selling off as well.
Netflix +5.81 on split up news
MAKO up 1.23 on new robotic technique
all 30 Dow stocks are lower
Lennar moves higher after earnings report...
Lennar’s (LEN +2.9%) FQ3 earnings slumped 31%, but Ticonderoga thinks results were “surprisingly good” - though EPS and revenue were merely in line - and "that should put a little bounce in investors’ steps." Management’s commentary on demand sounded a bit more upbeat, the firm says, with orders up a better-than-expected 11% Y/Y.
Lennar is up 0.63 to 14.44
Lennar is up 0.63 to 14.44
MAKO unveils hip Arthroplasty...
MAKO Surgical Corp. (MAKO) today announced the commercial availability of the RIO(R) Robotic Arm Interactive Orthopedic System for use in total hip replacement procedures, called MAKOplasty(R) Total Hip Arthroplasty.
MAKO's total hip replacement application is designed to support the surgeon's ability to more accurately align and position the implants relative to the needs of a patient. This may reduce potential complications associated with conventional hip replacement surgery. MAKOplasty Total Hip Arthroplasty provides a surgeon with a pre-operative 3-D reconstruction of the patient's hip and is used to develop the patient-specific surgical plan. The robotic-arm then assists the surgeon during the procedure to accurately prepare the joint and optimally place hip implants.
MAKO is one of our favorite growth stcoks...it is currently up 1.13 to 37.42. It is near all time highs.
MAKO's total hip replacement application is designed to support the surgeon's ability to more accurately align and position the implants relative to the needs of a patient. This may reduce potential complications associated with conventional hip replacement surgery. MAKOplasty Total Hip Arthroplasty provides a surgeon with a pre-operative 3-D reconstruction of the patient's hip and is used to develop the patient-specific surgical plan. The robotic-arm then assists the surgeon during the procedure to accurately prepare the joint and optimally place hip implants.
MAKO is one of our favorite growth stcoks...it is currently up 1.13 to 37.42. It is near all time highs.
Bristol Myers a takeout candidate???
Jefferies upgrades Bristol Myers (BMY) to Buy and increases its price target on shares to $35 from $27. The firm sees Bristol's underlying revenue and EPS ready to "rapidly take off mid-term," positioning the company as a "prime target for acquisition."
Happy Gilmore's grandmother dies....
Frances Bay, a veteran character actress known for playing sweet old ladies, died Thursday from pneumonia, the Associated Press reports. She was 92.
Classic line from the movie:
Grandma: Sir, can I trouble you for a glass of warm milk? It helps me go to sleep.
Nursing Home Orderly (Ben Stiller): You can trouble me for a warm glass of shut-the-hell-up! Now, you will go to sleep! Or I will PUT you to sleep. Check out the name tag. You're in MY world now, grandma!
Classic line from the movie:
Grandma: Sir, can I trouble you for a glass of warm milk? It helps me go to sleep.
Nursing Home Orderly (Ben Stiller): You can trouble me for a warm glass of shut-the-hell-up! Now, you will go to sleep! Or I will PUT you to sleep. Check out the name tag. You're in MY world now, grandma!
Netflix to split DVD and streaming video....
Netflix (NFLX) is a stock to watch this morning, on news that it is separating its DVD and streaming video rental services.
The DVD by mail service will now be known as "Qwikster", while the streaming service will keep the Netflix brand name.
Not sure I understand why they even have two services in the first place.
The DVD by mail service will now be known as "Qwikster", while the streaming service will keep the Netflix brand name.
Not sure I understand why they even have two services in the first place.
Obama to speak, market sells off....
President Obama is expected to propose today $3.6T of deficit cuts over the next decade, including entitlement cuts and tax hikes on corporations and individuals. Medicare and Medicaid would both see reduced budgets, while Social Security would remain untouched. The proposal is unlikely to pass Congress because of Republican opposition to tax increases.
More of the same here....futures point to a lower open.
More of the same here....futures point to a lower open.
Nice week last week...
Stocks stepped higher Friday and stretched their winning streak to five days.
The Nasdaq and S&P 500 both rose 0.6%, while the NYSE composite added 0.3%. Volume increased sharply across the board, elevated by quadruple witching, the once-a-quarter expiration of options and futures. The Nasdaq also closed above its declining 50-day moving average for the first time since July 29.
For a second straight day, the Nasdaq and S&P 500 ended above their respective areas of prior resistance, at 2600 and 1200. The next test for the S&P 500 will come around 1230, which is also close to its 50-day average.
For the week, the Nasdaq rose 6.3%, the S&P 500 5.4% and the NYSE 4.3%.
The Nasdaq and S&P 500 both rose 0.6%, while the NYSE composite added 0.3%. Volume increased sharply across the board, elevated by quadruple witching, the once-a-quarter expiration of options and futures. The Nasdaq also closed above its declining 50-day moving average for the first time since July 29.
For a second straight day, the Nasdaq and S&P 500 ended above their respective areas of prior resistance, at 2600 and 1200. The next test for the S&P 500 will come around 1230, which is also close to its 50-day average.
For the week, the Nasdaq rose 6.3%, the S&P 500 5.4% and the NYSE 4.3%.
Sunday, September 18, 2011
Walgreens feud with ESRX is opportunity for Catalyst Health...
Walgreen decided not to renew its agreement with Express Scripts (ESRX) as it considered the terms to be unfavorable. With this move, effective January 1, 2012, Walgreen’s 7,700 pharmacies will not be a part of Express Scripts’ pharmacy provider network.
Walgreen estimates that Express Scripts, as a pharmacy benefits manager, processes 90 million prescriptions that are not expected to be filled by Walgreen in fiscal 2011, representing approximately $5.3 billion in annual sales. Hence, we believe the decision not to renew the contract will affect the company’s future growth.
However, Walgreen is working toward establishing itself as a leading provider of pharmacy, and health and wellness solutions. The company has been taking steps over the last few years to align its assets These include the acquisition of Cardinal Health’s (CAH) Specialty Pharmacy business and agreement with Omnicare to divest its long-term care pharmacy business in exchange of the latter’s home infusion business.
Thereafter, during the third quarter of fiscal 2011, Walgreen sold its Pharmacy Benefit Management business to Catalyst Health (CHSI) for $525 million. By divesting its non-core assets, Walgreen will be able to better focus on its drug stores. On the other hand, the company acquired online retailer drugstore.com to gain a strong foothold in the online arena as it will be able to access more than 3 million online customers.
Catalyst Health (CHSI) broke out of a base on Friday rising 2.80 to 58.04
Walgreen estimates that Express Scripts, as a pharmacy benefits manager, processes 90 million prescriptions that are not expected to be filled by Walgreen in fiscal 2011, representing approximately $5.3 billion in annual sales. Hence, we believe the decision not to renew the contract will affect the company’s future growth.
However, Walgreen is working toward establishing itself as a leading provider of pharmacy, and health and wellness solutions. The company has been taking steps over the last few years to align its assets These include the acquisition of Cardinal Health’s (CAH) Specialty Pharmacy business and agreement with Omnicare to divest its long-term care pharmacy business in exchange of the latter’s home infusion business.
Thereafter, during the third quarter of fiscal 2011, Walgreen sold its Pharmacy Benefit Management business to Catalyst Health (CHSI) for $525 million. By divesting its non-core assets, Walgreen will be able to better focus on its drug stores. On the other hand, the company acquired online retailer drugstore.com to gain a strong foothold in the online arena as it will be able to access more than 3 million online customers.
Catalyst Health (CHSI) broke out of a base on Friday rising 2.80 to 58.04
Investor's Business Daily Top 10 stocks...
1. Alexion Pharmaceuticals (ALXN)
2. Ulta Salon Cosmetics (ULTA)
3. Lululemon (LULU)
4. Acretive Health (AH)
5. Baidu (BIDU)
6. Apple (AAPL)
7. New Oriental Education (EDU)
8. Priceline (PCLN)
9. Yamana Gold (AUY)
10. Perrigo (PRGO)
Here are the weekly charts on each:
2. Ulta Salon Cosmetics (ULTA)
3. Lululemon (LULU)
4. Acretive Health (AH)
5. Baidu (BIDU)
6. Apple (AAPL)
7. New Oriental Education (EDU)
8. Priceline (PCLN)
9. Yamana Gold (AUY)
10. Perrigo (PRGO)
Here are the weekly charts on each:
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