Friday, November 11, 2011
Consumer Sentiment better than expected...
November Reuters/UofM Consumer Sentiment: 64.2 preliminary vs. 61.3 expected and 60.9 in October. Expectations 51.8 vs. 47 in October. Current conditions 75.1 vs. 73.8 in October.
Disney releases strong results...
Walt Disney Co. (DIS). The company unveiled strong results that trumped Wall Street's expectations as advertisers spent more at cable networks like ESPN and consumers kept going to theme parks despite a rough economy. It reported a better-than-expected 7 percent gain in fiscal fourth-quarter revenue and net income rose 30 percent to $1.1 billion. Earnings per share came in at 58 cents.
Thursday's recap...
Stocks tried to regain lost ground from Wednesday's wild sell-off, but weren't able to make much progress Thursday.
The S&P 500 and the NYSE composite rose 0.9% and 1%, respectively, while staying within the previous day's trading range. The two indexes took back less than a fourth of Wednesday's massive loss.
Meanwhile, the Nasdaq edged up 0.1%. The IBD 50's median move was a 0.2% gain.
Volume fell across the board.
The Nasdaq appeared to find support at the 2600 level, which was one of the few positive technical take-aways from the session. The composite has gotten fairly consistent support in that area, which had served as resistance in September and part of October.
Other factors made it hard to see a clear message in Thursday's trading.
Winners led losers by a 7-3 ratio on the NYSE and by 5-3 on the Nasdaq. But new lows outnumbered new highs by 32 to 17 on the NYSE and 49 to 10 on the Nasdaq.
Declining volume and the Nasdaq's inability to rally with the other indexes were negatives. But all the indexes closed high in the day's range, a plus.
A few leaders stirred.
Software maker SolarWinds (SWI) advanced to a new high, up 3% in 75% faster trade. The stock has been a leader since gapping up Oct. 27. The Austin, Texas-based company's stock is now 18% past a 25.72 buy point.
Advance Auto Parts (AAP) rose almost 5% in more than triple its usual volume after topping estimates on EPS and sales. The stock is about 4% past a 67.03 buy point in a first-stage base.
On the downside, Apple (AAPL) lost 2.5% in 30% faster trade as it sliced under its 50-day line. The stock had been getting support at that key level the past few weeks.
Market watchers tied the loss to Cleveland Research's reduced estimate on iPad shipments and on S&P Capital IQ's downgrade from strong buy to buy.
However, there's another explanation. Apple began the day with an Accumulation/Distribution Rating of D-, which points to institutional selling. Fund managers were already selling before the news from analysts. The A/D Rating was at E at the end of the day.
Top-rated stocks have had some challenges in this choppy market.
In the four weeks since the market flashed a follow-through day Oct. 12, dozens of stocks have broken out. Some have made progress. But nine triggered the 8% sell rule after breakouts. They are Thoratec (THOR), World Fuel Services (INT), Concho Resources (CXO), IntercontinentalExchange (ICE), ARM Holdings (ARMH), Herbalife (HLF), FEI Co. (FEIC), Fusion-io (FIO) and Opnet Technologies (OPNT).
Some have bounced back to reduce their losses. Others have gotten no better.
The S&P 500 and the NYSE composite rose 0.9% and 1%, respectively, while staying within the previous day's trading range. The two indexes took back less than a fourth of Wednesday's massive loss.
Meanwhile, the Nasdaq edged up 0.1%. The IBD 50's median move was a 0.2% gain.
Volume fell across the board.
The Nasdaq appeared to find support at the 2600 level, which was one of the few positive technical take-aways from the session. The composite has gotten fairly consistent support in that area, which had served as resistance in September and part of October.
Other factors made it hard to see a clear message in Thursday's trading.
Winners led losers by a 7-3 ratio on the NYSE and by 5-3 on the Nasdaq. But new lows outnumbered new highs by 32 to 17 on the NYSE and 49 to 10 on the Nasdaq.
Declining volume and the Nasdaq's inability to rally with the other indexes were negatives. But all the indexes closed high in the day's range, a plus.
A few leaders stirred.
Software maker SolarWinds (SWI) advanced to a new high, up 3% in 75% faster trade. The stock has been a leader since gapping up Oct. 27. The Austin, Texas-based company's stock is now 18% past a 25.72 buy point.
Advance Auto Parts (AAP) rose almost 5% in more than triple its usual volume after topping estimates on EPS and sales. The stock is about 4% past a 67.03 buy point in a first-stage base.
On the downside, Apple (AAPL) lost 2.5% in 30% faster trade as it sliced under its 50-day line. The stock had been getting support at that key level the past few weeks.
Market watchers tied the loss to Cleveland Research's reduced estimate on iPad shipments and on S&P Capital IQ's downgrade from strong buy to buy.
However, there's another explanation. Apple began the day with an Accumulation/Distribution Rating of D-, which points to institutional selling. Fund managers were already selling before the news from analysts. The A/D Rating was at E at the end of the day.
Top-rated stocks have had some challenges in this choppy market.
In the four weeks since the market flashed a follow-through day Oct. 12, dozens of stocks have broken out. Some have made progress. But nine triggered the 8% sell rule after breakouts. They are Thoratec (THOR), World Fuel Services (INT), Concho Resources (CXO), IntercontinentalExchange (ICE), ARM Holdings (ARMH), Herbalife (HLF), FEI Co. (FEIC), Fusion-io (FIO) and Opnet Technologies (OPNT).
Some have bounced back to reduce their losses. Others have gotten no better.
Thursday, November 10, 2011
At 11:30 markets are mixed...
Stocks seem very indecisive here as trtaders try to guess the direction of the next move.
Dow +76
Nas +1
S&P +6 to 1234
Just waiting for the next shoe to drop.
Dow +76
Nas +1
S&P +6 to 1234
Just waiting for the next shoe to drop.
at 10:30 am....
Stocks are giving back earlier gains...and it is starting to look like traders are turning bearish...
Dow +36
Nas -14
S&P +1
Not good, considering the open we had...
Dow +36
Nas -14
S&P +1
Not good, considering the open we had...
Today's Upgrades and Downgrades..
These are some of Thursday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.
Advance Auto Parts. Inc. (NYSE: AAP) cut to Neutral at Credit Suisse.
Amazon.com Inc. (NASDAQ: AMZN) added to Strong Sell List at Zacks.
Anheuser-Busch InBev (NYSE: BUD) Cut to Neutral at UBS.
Carbonite, Inc. (NASDAQ: CARB) Reiterated Buy with $16 target at Canaccord Genuity.
Cisco Systems Inc. (NASDAQ: CSCO) Raised to Buy at Deutsche Bank; Raised to Buy at Citigroup; Target raised to $26 from $25 at Credit Suisse.
Computer Sciences Corporation (NYSE: CSC) Cut to Underweight at JPMorgan.
Dean Foods Company (NYSE: DF) Cut to Sell at S&P Capital IQ (late-Wednesday); Maintained Buy at Bof A/ML.
Enterprise Products Partners (NYSE: EPD) named Bull of the Day at Zacks.
Hospira, Inc. (NYSE: HSP) named Bear of the Day at Zacks.
Kraft Foods Inc. (NYSE: KFT) Reiterated Buy with $40 target at Argus.
Logitech International SA (NASDAQ: LOGI) Raised to Hold at S&P Capital IQ (late-Wednesday).
Nokia Corporation (NYSE: NOK) maintained Hold with $7.50 target at Canaccord Genuity.
PG&E Corporation (NYSE: PCG) cut to Neutral at Credit Suisse.
SandRidge Energy, Inc. (NYSE: SD) Cut to Neutral at Goldman Sachs.
Spreadtrum Communications Inc. (NASDAQ: SPRD) Reiterated Buy and raised estimates at Canaccord Genuity.
SurModics Inc. (NASDAQ: SRDX) named as Aggressive Growth at Zacks.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Raised to Equal-Weight at Morgan Stanley.
Advance Auto Parts. Inc. (NYSE: AAP) cut to Neutral at Credit Suisse.
Amazon.com Inc. (NASDAQ: AMZN) added to Strong Sell List at Zacks.
Anheuser-Busch InBev (NYSE: BUD) Cut to Neutral at UBS.
Carbonite, Inc. (NASDAQ: CARB) Reiterated Buy with $16 target at Canaccord Genuity.
Cisco Systems Inc. (NASDAQ: CSCO) Raised to Buy at Deutsche Bank; Raised to Buy at Citigroup; Target raised to $26 from $25 at Credit Suisse.
Computer Sciences Corporation (NYSE: CSC) Cut to Underweight at JPMorgan.
Dean Foods Company (NYSE: DF) Cut to Sell at S&P Capital IQ (late-Wednesday); Maintained Buy at Bof A/ML.
Enterprise Products Partners (NYSE: EPD) named Bull of the Day at Zacks.
Hospira, Inc. (NYSE: HSP) named Bear of the Day at Zacks.
Kraft Foods Inc. (NYSE: KFT) Reiterated Buy with $40 target at Argus.
Logitech International SA (NASDAQ: LOGI) Raised to Hold at S&P Capital IQ (late-Wednesday).
Nokia Corporation (NYSE: NOK) maintained Hold with $7.50 target at Canaccord Genuity.
PG&E Corporation (NYSE: PCG) cut to Neutral at Credit Suisse.
SandRidge Energy, Inc. (NYSE: SD) Cut to Neutral at Goldman Sachs.
Spreadtrum Communications Inc. (NASDAQ: SPRD) Reiterated Buy and raised estimates at Canaccord Genuity.
SurModics Inc. (NASDAQ: SRDX) named as Aggressive Growth at Zacks.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) Raised to Equal-Weight at Morgan Stanley.
Green Mountain gets slammed...
Green Mountain Coffee Roasters Inc. (GMCR). The company’s weak quarterly revenue raised fears about the company's growth potential, as sales of its Keurig coffee makers did not rise as much as Wall Street had expected. Fourth-quarter net income was $75.4 million, or 47 cents a share, compared with $27 million, or 20 cents a share, a year earlier. It estimated an adjusted profit of 35-40 cents a share in the first- quarter.
GMCR is down 20 points premarket to $47. The stock was as high as $115 on September 20.
GMCR is down 20 points premarket to $47. The stock was as high as $115 on September 20.
Cisco beats estimates...
Cisco Systems Inc. (CSCO). The networking equipment maker forecast revenue and earnings above Wall Street expectations as demand from government and enterprises for its network equipment remained resilient despite global economic troubles. It reported adjusted earnings of 43 cents per share for the fiscal first-quarter on revenue of $11.3 billion. It projected a 7 to 8 percent rise in fiscal second-quarter sales, translating to $11.13 billion to $11.2 billion in revenue.
Wednesday's recap...
The Nasdaq plunged 3.9% Wednesday while the NYSE composite slid 4.1%. It was the fifth time in seven sessions so far this month that the Nasdaq has moved up or down at least 1%.The S&P 500 slumped 3.7% and the Russell 2000 caved 4.8%.
Volume grew across the board Wednesday, smearing the Nasdaq with a fifth distribution day and the NYSE with its fourth within the past four weeks. That signals a substantial amount of institutional selling, which can wreck a market rally.
For that reason, the market outlook returns to an uptrend under pressure. In such volatile conditions, it's simply harder to make big money in stocks.
Wednesday's broad market plunge in heavier volume reflected the manic-depressive state of investors. This time they reacted to somber headlines on a European debt and budget saga that has already consumed Portugal, Ireland and Greece, and is now threatening Italy. The No. 3 economy in the EU is struggling to pacify investors as its sovereign debt yields soared past 7%.
The final numbers:
Dow -387
Nas -105
S&P -46 to 1229
Here is the intraday chart:
Volume grew across the board Wednesday, smearing the Nasdaq with a fifth distribution day and the NYSE with its fourth within the past four weeks. That signals a substantial amount of institutional selling, which can wreck a market rally.
For that reason, the market outlook returns to an uptrend under pressure. In such volatile conditions, it's simply harder to make big money in stocks.
Wednesday's broad market plunge in heavier volume reflected the manic-depressive state of investors. This time they reacted to somber headlines on a European debt and budget saga that has already consumed Portugal, Ireland and Greece, and is now threatening Italy. The No. 3 economy in the EU is struggling to pacify investors as its sovereign debt yields soared past 7%.
The final numbers:
Dow -387
Nas -105
S&P -46 to 1229
Here is the intraday chart:
Wednesday, November 9, 2011
Volatility Index shoots higher....
With all 30 Dow stocks flashing red, it's not a surprise the VIX is rocketing higher, up 8.61 to 36.09, on European fears. The market's fear gauge hasn't fallen below the psychologically-important 20 mark since before S&P downgraded the U.S. as volume stays high for short-term puts betting against a market recovery.
Joe Frazier dies...
Smokin' Joe Frazier died yesterday....one of my favorite all-time athletes. Here is a fitting tribute.
http://espn.go.com/boxing/story/_/id/7206261/joe-frazier-former-heavyweight-champion-dead-67
http://espn.go.com/boxing/story/_/id/7206261/joe-frazier-former-heavyweight-champion-dead-67
Stocks reporting after the close...
Pegasystems (PEGA)
Opnet (OPNT)
Cisco Systems (CSCO)
Mako Surgical (MAKO)
Green Mountain Coffee (GMCR)
Fleetcor (FLT)
Opnet (OPNT)
Cisco Systems (CSCO)
Mako Surgical (MAKO)
Green Mountain Coffee (GMCR)
Fleetcor (FLT)
At 1 pm....
Stocks are still lower.
Dow -239
Nas -61
S&P -28 to 1247
Not much has changed in the last couple of hours....stocks still near their lows of the day.
Banks seem to be selling off more than any other groups.
Dow -239
Nas -61
S&P -28 to 1247
Not much has changed in the last couple of hours....stocks still near their lows of the day.
Banks seem to be selling off more than any other groups.
Universal Display up on earnings and revenue growth....
Universal Display (PANL) is up 3.00 to 52.45 after beating Q3 estimates, and guiding for Q4 revenue of $15.4M-$19.4M ($15.3M consensus). During its Q3 CC, management reiterated prior comments about a recent German patent ruling being in its favor (though the details make that debatable), and added that its licensing deal with Samsung involves bi-annual fixed payments.
I don't like the last revelation that the Samsung deal is FIXED. Not exactly as positive as if the deal would have been royalties based on sales.
I don't like the last revelation that the Samsung deal is FIXED. Not exactly as positive as if the deal would have been royalties based on sales.
At 10:45 am...
Stocks are broadly lower, as focus shifts to Italy....
Dow -306
Nas -75
S&P -34 to 1241
These selloffs are getting a little old. Not sure they will keep stocks lower as we move into the afternoon, though.
Dow -306
Nas -75
S&P -34 to 1241
These selloffs are getting a little old. Not sure they will keep stocks lower as we move into the afternoon, though.
Today's upgrades and downgrades...
These are some of Wednesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.
Alaska Communications Systems Group Inc. (NASDAQ: ALSK) Cut to Underperform at BofA/ML.
Autodesk Inc. (NASDAQ: ADSK) Cut to Neutral at BofA/ML.
Avon Products, Inc. (NYSE: AVP) cut to Underperform as Bear of the Day at Zacks.
Blue Nile Inc. (NASDAQ: NILE) Cut to Sell at Deutsche Bank.
China Automotive Systems Inc. (NASDAQ: CAAS) Cut to Neutral at Piper Jaffray.
DreamWorks Animation SKG Inc. (NYSE: DWA) Cut to Sell at Janney.
Equity Residential (NYSE: EQR) Raised to Buy at Argus.
H&R Block, Inc. (NYSE: HRB) Raised to Outperform at Oppenheimer.
Priceline.com Inc. (NASDAQ: PCLN) Cut to Hold at S&P Capital IQ (late-Tuesday).
Rite Aid Corporation (NYSE: RAD) Raised to Outperform at Credit Suisse.
Rovi Corporation (NASDAQ: ROVI) has seen at least three downgrades: Collins Stewart, CLSA, Brean Murray.
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) named Momentum stock of the day at Zacks.
Textainer Group Holdings Limited (NYSE: TGH) named Value stock of the day at Zacks.
Walgreen Co. (NYSE: WAG) Cut to Neutral at Credit Suisse.
The Washington Post Co. (NYSE: WPO) named Bull of the Day at Zacks.
Alaska Communications Systems Group Inc. (NASDAQ: ALSK) Cut to Underperform at BofA/ML.
Autodesk Inc. (NASDAQ: ADSK) Cut to Neutral at BofA/ML.
Avon Products, Inc. (NYSE: AVP) cut to Underperform as Bear of the Day at Zacks.
Blue Nile Inc. (NASDAQ: NILE) Cut to Sell at Deutsche Bank.
China Automotive Systems Inc. (NASDAQ: CAAS) Cut to Neutral at Piper Jaffray.
DreamWorks Animation SKG Inc. (NYSE: DWA) Cut to Sell at Janney.
Equity Residential (NYSE: EQR) Raised to Buy at Argus.
H&R Block, Inc. (NYSE: HRB) Raised to Outperform at Oppenheimer.
Priceline.com Inc. (NASDAQ: PCLN) Cut to Hold at S&P Capital IQ (late-Tuesday).
Rite Aid Corporation (NYSE: RAD) Raised to Outperform at Credit Suisse.
Rovi Corporation (NASDAQ: ROVI) has seen at least three downgrades: Collins Stewart, CLSA, Brean Murray.
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) named Momentum stock of the day at Zacks.
Textainer Group Holdings Limited (NYSE: TGH) named Value stock of the day at Zacks.
Walgreen Co. (NYSE: WAG) Cut to Neutral at Credit Suisse.
The Washington Post Co. (NYSE: WPO) named Bull of the Day at Zacks.
ROVI disappoints...
Shares of electronic television programming guide vendor Rovi are down sharply on a disappointing financial outlook.
For Q3, the company posted revenue of $196.5 million, up from $138 million a year ago, but a bit below the Street consensus at $197.9 million. Pro forma profits of 63 cents a share topped the Street consensus at 61 cents.
The issue for the stock was the guidance the company provided on the call. For starters, the company now sees full year results at the lower end of its previous guidance ranges of revenues of $770 million to $810 million, and profits of $2.35 to $2.60. Rovi also said on its conference call that it sees revenue in 2012 increasing in the mid-to-high single digit range, well below the 15.5% growth that the Street has been forecasting.
For Q3, the company posted revenue of $196.5 million, up from $138 million a year ago, but a bit below the Street consensus at $197.9 million. Pro forma profits of 63 cents a share topped the Street consensus at 61 cents.
The issue for the stock was the guidance the company provided on the call. For starters, the company now sees full year results at the lower end of its previous guidance ranges of revenues of $770 million to $810 million, and profits of $2.35 to $2.60. Rovi also said on its conference call that it sees revenue in 2012 increasing in the mid-to-high single digit range, well below the 15.5% growth that the Street has been forecasting.
Activision losing subscribers...
Activision Blizzard (ATVI). The video games publisher revealed it has lost almost a million users for its "World of Warcraft" cash cow, dampening enthusiasm for its blockbuster "Call of Duty" franchise. It now expects earnings per share of 85 cents on revenue of $4.25 billion for 2011. Adjusted for revenue from online games, it posted earnings per share of 7 cents, which beat Wall Street's expectations of 2 cents per share.
This may be a great short right here...
This may be a great short right here...
Futures point to lower open...
U.S. stock index futures pointed to a lower open on Wall Street Wednesday as investors still watched Europe with caution after Italian Prime Minister Silvio Berlusconi announced he would step down once a series of austerity measures had been put in place.
The austerity program could in theory be completed by Christmas, and observers suggested a government of technocrats could run the country until scheduled elections in 2013, although Berlusconi himself suggested Tuesday night that new elections would be preferable.
The yield on Italian sovereign debt, however, rose as high as 7 percent in morning trade after LCH.Clearnet raised the initial margin call applied to Italian debt by between 3.5 and 5 percentage points across all maturities of BTP and inflation-linked BTP bonds.
That led European markets, which had opened the day higher on the announcement of the Italian premier’s resignation, into negative territory.
The FTSEurofirst 300 index of top European shares fell 1.4 percent at 969.84 points, reversing Tuesday's 0.9 percent rise.
The austerity program could in theory be completed by Christmas, and observers suggested a government of technocrats could run the country until scheduled elections in 2013, although Berlusconi himself suggested Tuesday night that new elections would be preferable.
The yield on Italian sovereign debt, however, rose as high as 7 percent in morning trade after LCH.Clearnet raised the initial margin call applied to Italian debt by between 3.5 and 5 percentage points across all maturities of BTP and inflation-linked BTP bonds.
That led European markets, which had opened the day higher on the announcement of the Italian premier’s resignation, into negative territory.
The FTSEurofirst 300 index of top European shares fell 1.4 percent at 969.84 points, reversing Tuesday's 0.9 percent rise.
Yesterday's wrap up from IBD...
Stocks closed with solid gains and near session highs Tuesday after seesaw trading linked to Italy's debt drama. The Nasdaq and S&P 500 tacked on 1.2%, after trading as much as 0.5% lower at midday. The NYSE composite rose 1.1%. Volume increased across the board from Monday's levels.
The market has bounced back since the sell-off of Oct. 31-Nov. 1. Two up days in that span of time came in higher volume. For the fifth straight day, indexes closed near session highs.
Meanwhile, leading stocks have displayed encouraging action. Sell signals remain rare and more breakouts are occurring.
The positive tone indicates that the pressure the market had faced recently has dissipated and its uptrend is back to normal.
Stocks started out higher, but dropped into the red around midday as a key vote in debt-wracked Italy sent a mixed signal. Italian Prime Minister Silvio Berlusconi lost his parliamentary majority, yet he still managed to win a key budget vote.
It initially wasn't clear what would happen to Berlusconi. But he then promised to resign after Italian lawmakers approve new austerity measures. Once the news hit the wires, U.S. stocks went into the black and to new session highs.
The S&P 500 finished above its 200-day moving average, after closing below that long-term support level for six straight days.
Advancers easily beat out decliners on both the Nasdaq and NYSE. But while new 52-week highs outnumbered new lows Tuesday on the NYSE, slightly more stocks made new lows on the Nasdaq than new highs.
Top-rated stocks largely acted well, with several breaking out.
Cardtronics (CATM) jumped 8% in big trade, clearing a 25.95 handle buy point in the wake of a strong quarterly earnings report late Monday. TransDigm Group (TDG) rose 4% and flew past a 95.14 buy point from a cup without handle.
Signet Jewelers (SIG) climbed 8% in huge volume, topping a 45.60 handle entry. Late Monday, S&P said Signet will join the S&P MidCap 400 index. Priceline.com (PCLN) surged 9%, closing above an area of resistance around 550.
On the downside, Triumph Group (TGI) slid 2% in fast trade, though it finished near its session high. Before the opening bell, it announced a public offering of 5 million shares.
After hours, Copa Holdings (CPA) reported third-quarter earnings that beat views. The stock, which has been working on a new base, fell 4% in strong volume during the regular session.
U.S. economic news was light Tuesday and mostly overshadowed by the latest euro zone headlines. A small-business optimism index edged up in October.
The market has bounced back since the sell-off of Oct. 31-Nov. 1. Two up days in that span of time came in higher volume. For the fifth straight day, indexes closed near session highs.
Meanwhile, leading stocks have displayed encouraging action. Sell signals remain rare and more breakouts are occurring.
The positive tone indicates that the pressure the market had faced recently has dissipated and its uptrend is back to normal.
Stocks started out higher, but dropped into the red around midday as a key vote in debt-wracked Italy sent a mixed signal. Italian Prime Minister Silvio Berlusconi lost his parliamentary majority, yet he still managed to win a key budget vote.
It initially wasn't clear what would happen to Berlusconi. But he then promised to resign after Italian lawmakers approve new austerity measures. Once the news hit the wires, U.S. stocks went into the black and to new session highs.
The S&P 500 finished above its 200-day moving average, after closing below that long-term support level for six straight days.
Advancers easily beat out decliners on both the Nasdaq and NYSE. But while new 52-week highs outnumbered new lows Tuesday on the NYSE, slightly more stocks made new lows on the Nasdaq than new highs.
Top-rated stocks largely acted well, with several breaking out.
Cardtronics (CATM) jumped 8% in big trade, clearing a 25.95 handle buy point in the wake of a strong quarterly earnings report late Monday. TransDigm Group (TDG) rose 4% and flew past a 95.14 buy point from a cup without handle.
Signet Jewelers (SIG) climbed 8% in huge volume, topping a 45.60 handle entry. Late Monday, S&P said Signet will join the S&P MidCap 400 index. Priceline.com (PCLN) surged 9%, closing above an area of resistance around 550.
On the downside, Triumph Group (TGI) slid 2% in fast trade, though it finished near its session high. Before the opening bell, it announced a public offering of 5 million shares.
After hours, Copa Holdings (CPA) reported third-quarter earnings that beat views. The stock, which has been working on a new base, fell 4% in strong volume during the regular session.
U.S. economic news was light Tuesday and mostly overshadowed by the latest euro zone headlines. A small-business optimism index edged up in October.
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