These kind of panic moves usually end badly for those who "invest" in them. Let's keep an eye on this chart.
Wednesday, August 10, 2011
Morning Movers.....
Accretive Health Inc. (AH) declined 2.1 percent to $28. The Chicago-based company that helps hospitals collect medical bills from patients reported second-quarter earnings minus some items of 12 cents a share, beating the average estimate of five analysts of 10 cents a share, according to Bloomberg data.
Capital One Financial Corp. (COF) rallied 3.1 percent to $42.10. The McLean, Virginia-based lender that acquired ING Direct USA in June, agreed buy HSBC Holdings Plc’s U.S. credit card division for about $32.7 billion. Capital One said the deal will add to earnings in 2013.
Cree Inc. (CREE) jumped 10 percent to $32.52. The maker of energy-efficient lighting posted fourth-quarter adjusted earnings that exceeded the average analyst projection, data compiled by Bloomberg show.
Macy’s Inc. (M) gained 4.2 percent to $26.50. The second-biggest U.S. department-store chain reported quarterly earnings that beat analysts’ estimates and boosted its full-year profit forecast as sales increased faster than the retailer expected.
OpenTable Inc. (OPEN) gained 5 percent to $63.35. The online restaurant-reservation service was raised to “buy” from “hold” at Citigroup Inc. analyst Mark S. Mahaney, who cited an attractive valuation and the company’s prospects for growth and profitability.
Pegasystems Inc. (PEGA) : The developer of customer relationship management software reported second-quarter earnings that exceeded the average analyst projection, data compiled by Bloomberg show.
Polo Ralph Lauren Corp. (RL) climbed 10 percent to $132.26. The clothing retailer reported first-quarter earnings of $1.90 a share, exceeding analysts’ estimate of $1.47 on average.
SunPower Corp. (SPWRA) : The second-largest U.S. solar panel said third-quarter earnings and sales will be lower than the average analyst estimate.
Walt Disney Co. (DIS) slid 4.3 percent to $33.20. The world’s biggest theme-park operator posted third-quarter studio revenue of $1.62 billion, compared with the average analyst estimate of $1.83 billion.
Capital One Financial Corp. (COF) rallied 3.1 percent to $42.10. The McLean, Virginia-based lender that acquired ING Direct USA in June, agreed buy HSBC Holdings Plc’s U.S. credit card division for about $32.7 billion. Capital One said the deal will add to earnings in 2013.
Cree Inc. (CREE) jumped 10 percent to $32.52. The maker of energy-efficient lighting posted fourth-quarter adjusted earnings that exceeded the average analyst projection, data compiled by Bloomberg show.
Macy’s Inc. (M) gained 4.2 percent to $26.50. The second-biggest U.S. department-store chain reported quarterly earnings that beat analysts’ estimates and boosted its full-year profit forecast as sales increased faster than the retailer expected.
OpenTable Inc. (OPEN) gained 5 percent to $63.35. The online restaurant-reservation service was raised to “buy” from “hold” at Citigroup Inc. analyst Mark S. Mahaney, who cited an attractive valuation and the company’s prospects for growth and profitability.
Pegasystems Inc. (PEGA) : The developer of customer relationship management software reported second-quarter earnings that exceeded the average analyst projection, data compiled by Bloomberg show.
Polo Ralph Lauren Corp. (RL) climbed 10 percent to $132.26. The clothing retailer reported first-quarter earnings of $1.90 a share, exceeding analysts’ estimate of $1.47 on average.
SunPower Corp. (SPWRA) : The second-largest U.S. solar panel said third-quarter earnings and sales will be lower than the average analyst estimate.
Walt Disney Co. (DIS) slid 4.3 percent to $33.20. The world’s biggest theme-park operator posted third-quarter studio revenue of $1.62 billion, compared with the average analyst estimate of $1.83 billion.
Disney Beats, but uncertain on Outlook....
Walt Disney Co. (DIS). The company’s quarterly results surpassed cautious Wall Street expectations on Tuesday, but the media and entertainment giant now has to grapple with an uncertain outlook for consumer spending. Disney posted net income of $1.48 billion or 77 cents per share, versus $1.33 billion or 67 cents a year earlier.
Tuesday, August 9, 2011
Markets Close MUCH Higher....
Dow +429.92
Nas +124.83
S&P +53.07
Nice closing rally...kind of erases 2/3rds of yesterdays losses. Tomorrow is an important day. We need a follow-up rally!!!
Nas +124.83
S&P +53.07
Nice closing rally...kind of erases 2/3rds of yesterdays losses. Tomorrow is an important day. We need a follow-up rally!!!
Traders sell into Fed news.....
Immediately following the Fed announcement, the Dow was up 180 points, 30 minutes later the Dow is down 108.
It will be an interesting close. We have afternoon margin calls due at 3 pm....after that, hopefully we will gain some footing.
It will be an interesting close. We have afternoon margin calls due at 3 pm....after that, hopefully we will gain some footing.
2:15 pm: Fed Leaves Rates Unchanged....
In an unprecedented move they are saying that they are not intending on raising rates until mid 2013. Kind of an extreme statement...ultimately good for stocks, but may get a bad reception in the near term.
Expect Margin Calls.....
Market will undoubtedly face some selling pressure between 11 am and Noon today....
Keep an Eye on Gold and Silver....
Silver started selling off last Thursday...a fall in gold would be a key sign of a shift of money looking for bargains in stocks....
Analyst Upgrades and Downgrades....
These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday morning.
AECOM Technology Corp. (NYSE: ACM) Reiterated Buy with $33 target at Argus.
American International Group, Inc. (NYSE: AIG) Raised to Market Perform at KBW.
Berkshire Hathaway Inc. (NYSE: BRK-A) Raised to Overweight at Barclays.
Boston Scientific (NYSE: BSX) Raised to Outperform as Bull of the Day at Zacks.
CBS Corp. (NYSE: CBS) Raised to Buy with $31 target at Argus.
First Solar Inc. (NASDAQ: FSLR) Maintained Buy but cut target to $140 at Argus.
Humana Inc. (NYSE: HUM) Raised to Buy at Goldman Sachs.
McDonald’s Corporation (NYSE: MCD) Raised to Conviction Buy List at Goldman Sachs.
Merck & Co. Inc. (NYSE: MRK) Raised to Buy at Jefferies.
Pfizer Inc. (NYSE: PFE) Raised to Buy at Goldman Sachs.
PPG Industries, Inc. (NYSE: PPG) Reiterated Buy as Value at Zacks.
StanCorp Financial Group (NYSE: SFG) Cut to Underperform as Bear of the Day at Zacks.
Tyco International Ltd. (NYSE: TYC) Raised to Buy at Goldman Sachs.
Wells Fargo & Company (NYSE: WFC) Raised to Outperform at FBR.
Wynn Resorts Ltd. (NASDAQ: WYNN) Raised to Hold at Citigroup
AECOM Technology Corp. (NYSE: ACM) Reiterated Buy with $33 target at Argus.
American International Group, Inc. (NYSE: AIG) Raised to Market Perform at KBW.
Berkshire Hathaway Inc. (NYSE: BRK-A) Raised to Overweight at Barclays.
Boston Scientific (NYSE: BSX) Raised to Outperform as Bull of the Day at Zacks.
CBS Corp. (NYSE: CBS) Raised to Buy with $31 target at Argus.
First Solar Inc. (NASDAQ: FSLR) Maintained Buy but cut target to $140 at Argus.
Humana Inc. (NYSE: HUM) Raised to Buy at Goldman Sachs.
McDonald’s Corporation (NYSE: MCD) Raised to Conviction Buy List at Goldman Sachs.
Merck & Co. Inc. (NYSE: MRK) Raised to Buy at Jefferies.
Pfizer Inc. (NYSE: PFE) Raised to Buy at Goldman Sachs.
PPG Industries, Inc. (NYSE: PPG) Reiterated Buy as Value at Zacks.
StanCorp Financial Group (NYSE: SFG) Cut to Underperform as Bear of the Day at Zacks.
Tyco International Ltd. (NYSE: TYC) Raised to Buy at Goldman Sachs.
Wells Fargo & Company (NYSE: WFC) Raised to Outperform at FBR.
Wynn Resorts Ltd. (NASDAQ: WYNN) Raised to Hold at Citigroup
All Eyes on the Fed....
The FOMC is due to meet today amid calls for the Fed to take action over slowing growth, especially after yesterday's stock plunge. However, with interest rates at zero to 0.25% for nearly three years and $2.3T of bond buying not spurring growth, there doesn't appear to be a huge amount the Fed can do. One option would be to replace shorter-term securities with longer maturities to reduce rates on longer-term debt. And if the Fed is considering QE3, it's not expected to announce it today.
Bring Back the Uptick Rule!!!!
With the Uptick Rule in place, shorting the market was much more difficult. The SEC completely dropped the ball by allowing these ETF companies talk them into getting rid of the rule. The result...a casino with no protection on the downside.
Medicis cuts outlook.....
Medicis Pharmaceutical Corp. (MRX). The company posted second-quarter profit in line with estimates and cut its full-year outlook. Medicis cut full-year earnings to $2.25-$2.56 a share from earlier view of $2.45-$2.60 a share. April-June net income fell to $28.8 million, or 43 cents a share, from $36.5 million, or 56 cents a share, a year ago.
Carrizo Oil and Gas Profit Doubles....
Carrizo Oil & Gas Inc (CRZO). The natural gas-focused energy company’s second-quarter profit rose more than fourfold helped by higher production and increase in oil prices, and said it expects 2011 production to be at par or above its prior view. Net income rose to $7.7 million, or 20 cents a share, from $1.8 million, or 5 cents a share, a year ago.
Fossil Q2 profit beats Street, but Guides Lower...
The company which sells its namesake brand as well as Michael Kors and Armani quarterly profit beat market estimates on increased sales of its watches and leather products, but the watchmaker forecast a third-quarter profit below expectations.
Fossil trading at $78 premarket down from a close of $93. Fossil was IBD's number 2 rated stock.
Fossil trading at $78 premarket down from a close of $93. Fossil was IBD's number 2 rated stock.
Dish Network Q2 profit misses on subscriber losses
The second-largest U.S. satellite TV provider’s quarterly profit fell short of market estimates as the satellite-TV provider lost subscribers, hurt by increased competition.
Direct TV and Verizon's FIOS taking a toll on DISH.....
Direct TV and Verizon's FIOS taking a toll on DISH.....
Futures have reversed overnight....
At 11 pm last night, the Dow Futures were down 280 points....as I write this Dow Futures are up 108 points....
Market Breadth from Yesterday....
This is about as ugly as it gets....Check out the New Lows on the NYSE (1,306). I have been keeping track of Market Stats for 15 years, and have never seen anything close to that. Selling volume suggests that yesterday was a complete panic selloff.
Monday, January 24, 2011
Stocks to watch....
Apple Inc. (AAPL). The iPhone-maker said on Saturday its App Store reached landmark 10 billion downloads, further underlining the lead of the company in mobile online software battle, a counter on front page of the store showed.
Halliburton Co. (HAL). The world's second-largest oilfield services, on Monday reported higher fourth-quarter profit as drilling activity in its North American market remained strong. The company said its net profit rose to $605 million, or 66 cents per share, from $243 million, or 27 cents per share, a year earlier.
Halliburton Co. (HAL). The world's second-largest oilfield services, on Monday reported higher fourth-quarter profit as drilling activity in its North American market remained strong. The company said its net profit rose to $605 million, or 66 cents per share, from $243 million, or 27 cents per share, a year earlier.
Premarket Movers.....
Gainers
Clinical Data Inc.’s (CLDA 25.00, +9.97, +66.33%) shares rallied 44% after the company’s antidepressant received approval Friday from the U.S. Food and Drug Administration.
Genoptix Inc. (GXDX 24.88, +5.12, +25.91%) shares rose 26% after Swiss drug maker Novartis AG (NVS 56.70, +0.28, +0.50%) said it would buy the cancer-diagnostic specialist for $470 million.
Nvidia Corp. (NVDA 23.05, +0.83, +3.74%) shares added 5% after Barron’s said the chip maker’s stock might rise as much as 80% in the next year.
Smurfit-Stone Container Corp. (SSCC 35.10, +7.58, +27.54%) shares climbed 27% after Rock-Tenn Co. (RKT 60.17, +2.99, +5.23%) said it would buy the container-board producer for $3.5 billion.
Decliners
RadioShack Corp. (RSH 16.09, -1.52, -8.63%) shares fell 12% after the consumer-electronics retailer said Chief Executive Officer Julian Day would step down in May. Read more about RadioShack.
World Wrestling Entertainment Inc. (WWE 11.95, -1.55, -11.48%) shares lost 11% after the producer of wrestling matches late Friday projected fourth-quarter earnings below expectations.
Clinical Data Inc.’s (CLDA 25.00, +9.97, +66.33%) shares rallied 44% after the company’s antidepressant received approval Friday from the U.S. Food and Drug Administration.
Genoptix Inc. (GXDX 24.88, +5.12, +25.91%) shares rose 26% after Swiss drug maker Novartis AG (NVS 56.70, +0.28, +0.50%) said it would buy the cancer-diagnostic specialist for $470 million.
Nvidia Corp. (NVDA 23.05, +0.83, +3.74%) shares added 5% after Barron’s said the chip maker’s stock might rise as much as 80% in the next year.
Smurfit-Stone Container Corp. (SSCC 35.10, +7.58, +27.54%) shares climbed 27% after Rock-Tenn Co. (RKT 60.17, +2.99, +5.23%) said it would buy the container-board producer for $3.5 billion.
Decliners
RadioShack Corp. (RSH 16.09, -1.52, -8.63%) shares fell 12% after the consumer-electronics retailer said Chief Executive Officer Julian Day would step down in May. Read more about RadioShack.
World Wrestling Entertainment Inc. (WWE 11.95, -1.55, -11.48%) shares lost 11% after the producer of wrestling matches late Friday projected fourth-quarter earnings below expectations.
Subscribe to:
Posts (Atom)
