Tuesday, June 1, 2010
Market Recap...
Market recap: Stocks moved sharply lower in the final hour of trading after staying in positive territory for most of the session, as BP's (BP -15%) woes dragged down the energy sector and new Middle East tensions added to the late selloff. Decliners led advancers on the NYSE by nearly five to one.
Tenet Healthcare looking at Healthscope...
Tenet Healthcare (THC) confirms it is discussing a potential acquisition of Healthscope, Australia's second-largest private hospital company.
BP still trying...
BP (BP) is in the middle of a major pipe cut to attempt to contain the Gulf oil spill, the Coast Guard says, contradicting reports that the company had curtailed efforts to end flow from the well. BP says its "top kill" attempt to seal the well may have failed due to a ruptured disk inside the well.
Lunchtime Update....
Lunchtime Update:
Dow +40.73
Nas +1.50
S&P -1.20
Winners:
AAPL +7.40
GOOG +3.50
Losers:
RIG -4.40
BP -5.11
APC -7.55
Dow +40.73
Nas +1.50
S&P -1.20
Winners:
AAPL +7.40
GOOG +3.50
Losers:
RIG -4.40
BP -5.11
APC -7.55
Keep an eye on Synaptics...
SYNA - Synaptics is demonstrating its newest touch technology branded as TouchPad-IS at COMPUTEX 2010. The company claims is the first "fully capable, multi-finger PC touchpad. The new touchpad can accurately recognize four-finger gestures and demonstrate demonstrate Synaptics SmartSense technology, which prevents activation of the cursor when you accidentally touch it.
Nvidia favors Google's Android OS....
In Computer World magazine, NVDA says Google’s Android will become the OS of choice for tablets; Windows is too large and feature-rich for smartphones according to NVDA.
Amazon working on new version of Kindle....
AMZN - Amazon.com in August will unveil a thinner version of its Kindle electronic-book reader, with a screen that turns pages faster and has a sharper display; the co is also hard at work on a color-screen version and one w/touch responses.
This weekend's IBD additions and deletions....
IBD 100 List:
Additions - TPX, TSCO, PVH, JOSB, JCG, WHR, PNRA.
Deletions - ULTA, FDO, ANN, ROST, IMAX, CAKE, BBBY.
Additions - TPX, TSCO, PVH, JOSB, JCG, WHR, PNRA.
Deletions - ULTA, FDO, ANN, ROST, IMAX, CAKE, BBBY.
Earnings this week....
Tues June 1:
After the close (LGF, PSS, SNDA).
Wed June 2:
Before open (DAKT, SCVL, CSIQ); After the close (HOV)
Thurs June 3:
Before the open (STP, CHRS, AGYS, JOYG, UTIW, JOSB, AHO)
After the close (SNIC, CMTL, ZQK, SAI, KKD, COO)
Fri June 4:
Before the open (CMED)
After the close (LGF, PSS, SNDA).
Wed June 2:
Before open (DAKT, SCVL, CSIQ); After the close (HOV)
Thurs June 3:
Before the open (STP, CHRS, AGYS, JOYG, UTIW, JOSB, AHO)
After the close (SNIC, CMTL, ZQK, SAI, KKD, COO)
Fri June 4:
Before the open (CMED)
Boeing wins Russian order....
Boeing (BA). The aircraft maker has won an order from a Russian state company for up to 65 planes, nearly half its net order level for 2009, beating European rival Airbus and a Russian manufacturer.
Blackstone set to buy out the Shack...
Blackstone Group LP (BX). The private equity firm has emerged as a leading participant to buy electronics retailer RadioShack Corp (RSH) after an initial round of bids were completed last week, the New York Post said, citing sources familiar with the matter.
RadioShack is up over $1 premarket to $21.50
RadioShack is up over $1 premarket to $21.50
Astra Zeneca suffers slight setback...
AstraZeneca (AZN). The Anglo-Swedish drugmaker’s drive to extend the life of its blockbuster acid reflux drug Nexium through new uses was set back on Tuesday after U.S. regulators delayed approval of a drug combining it with aspirin. Nexium faces the loss of patent protection in key markets and the company is developing novel formulations to extend its franchise.
Top Kill efforts fail....
BP (BP) is sliding over 10% premarket after its weekend announcement that 'top kill' efforts had failed. Its next attempt to stem the Gulf of Mexico leak, using robots, could end up making the leak worse and a permanent fix is still months away.
HP to cut 3,000 jobs...
According to their 8-K filing, Hewlett-Packard (HPQ) is cutting a net of 3,000 jobs and taking a $1B charge.
IPad sales reach 2 Million....
Sales of Apple's (AAPL) iPad have topped two million in less than sixty days, exceeding the sales rate for the company's Mac laptops and desktops and for the original iPhone, though falling short of the sales rate for the iPhone 3G. The news could prompt analysts to upwardly revise their sales projections, giving an already buoyant stock a further lift.
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