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.
Wednesday, October 26, 2011
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.
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