Cerner (CERN)
Quality Systems (QSII)
VF Corp. (VFC)
Hershey (HSY)
Treehouse Foods (THS)
Perrigo (PRGO)
Kimberly Clarke (KMB)
Alexion Pharmaceutical (ALXN)
Tuesday, September 27, 2011
Stocks that hit New Highs today...
Here are a few that I follow, that hit new highs today:
Cerner (CERN)
Quality Systems (QSII)
VF Corp. (VFC)
Hershey (HSY)
Treehouse Foods (THS)
Perrigo (PRGO)
Kimberly Clarke (KMB)
Alexion Pharmaceutical (ALXN)
Cerner (CERN)
Quality Systems (QSII)
VF Corp. (VFC)
Hershey (HSY)
Treehouse Foods (THS)
Perrigo (PRGO)
Kimberly Clarke (KMB)
Alexion Pharmaceutical (ALXN)
Stock Gains cut in half...
After the Dow was up over 300 points at around 2:30 pm, stocks sold down going into the close:
Dow +146
Nas +30
S&P +12 to 1175
Gold and Silver performed about the same:
GLD +3.05 to 160.63
SLV +1.40 to 31.17
Most of the stocks that outperformed today were those that had heavy short positions, meaning that most of the gains were attributable to short covering. It's a news driven market right now...very dependent upon what happens in Europe overnight.
After two strong days, I would not be surprised to see traders turn the market the other way tomorrow.
Dow +146
Nas +30
S&P +12 to 1175
Gold and Silver performed about the same:
GLD +3.05 to 160.63
SLV +1.40 to 31.17
Most of the stocks that outperformed today were those that had heavy short positions, meaning that most of the gains were attributable to short covering. It's a news driven market right now...very dependent upon what happens in Europe overnight.
After two strong days, I would not be surprised to see traders turn the market the other way tomorrow.
Coast Guard reports new oil near BP well....
This just in...the Coast Guard is seeing new oil on the water near the famous BP Macondo well. Not this again!!!
At 3:20 pm....
Stocks are paring their gains slightly as it looks like volume is picking up.
Dow +220
Nas +41
S&P +19 to 1182
Let's see how we hold up in the next 40 minutes.
Dow +220
Nas +41
S&P +19 to 1182
Let's see how we hold up in the next 40 minutes.
Meredith Whitney cuts Goldman and Morgan Stanley....
CNBC reports Meredith Whitney slashing her Q3 EPS estimate for Goldman Sachs (GS) to $0.31 from $3.39 and consensus of $1.13. She lowers her FY12 estimate to $7.85 from $15.30 and against consensus of $15.09. Just last week Barclays said it expects Goldman to report a loss in Q3.
She also cuts her Q3 estimate for Morgan Stanley (MS) to $0.28 from $0.53 and consensus $0.37. She brings down FY12 to $2.14 from $2.50 and against consensus of $2.48. Again, Barclays remains the lowball, seeing a Q3 of just $0.12.
She also cuts her Q3 estimate for Morgan Stanley (MS) to $0.28 from $0.53 and consensus $0.37. She brings down FY12 to $2.14 from $2.50 and against consensus of $2.48. Again, Barclays remains the lowball, seeing a Q3 of just $0.12.
Uh Oh....
Trading in Imperial Holdings (IFT) is halted; the FBI raided the company's Florida offices this afternoon.
IFT stopped trading down 0.20 to 6.30
IFT stopped trading down 0.20 to 6.30
At 1:00 pm...
Stocks broadly moving higher...
Dow +263
Nas +55
S&P +25 to 1188
Bucking the trend:
Amazon (AMZN) -5.83 to 224.09
Priceline (PCLN) -4.48 to 509.11
Chipotle (CMG) -5.99 to 323.65
Netflix (NFLX) -4.30 to 127.92
Dow +263
Nas +55
S&P +25 to 1188
Bucking the trend:
Amazon (AMZN) -5.83 to 224.09
Priceline (PCLN) -4.48 to 509.11
Chipotle (CMG) -5.99 to 323.65
Netflix (NFLX) -4.30 to 127.92
Liesman contradicts yesterday's report...
The man who launched a massive worldwide rally in stocks with his report of a €TARP yesterday, CNBC's Steve Liesman takes to the air to say nothing has been resolved or even officially proposed. "If the market is going up on my rumor, it is ahead of itself ... Europe is either in for €2T, or the euro is done."
The market started its latest rally after Liesman gave a report yesterday that European officials were working on a TARP-like plan.
The market started its latest rally after Liesman gave a report yesterday that European officials were working on a TARP-like plan.
At 11:00 am....
Stocks still higher as every sector is catching a bid.
Dow +265
Nas +57
S&P +28 to 1191
Remember 1200 is a key level on the S&P to break back above.
GLD is up 4.46 to 162.04
SLV is up 2.12 to 31.90
Dow +265
Nas +57
S&P +28 to 1191
Remember 1200 is a key level on the S&P to break back above.
GLD is up 4.46 to 162.04
SLV is up 2.12 to 31.90
Icahn building stake in RIMM...
Research in Motion (RIMM) shares spike higher on rumors Carl Icahn is building a stake.
RIMM is up 1.30 to 22.99
RIMM is up 1.30 to 22.99
What I am watching....
As the market rallies (Dow is up 223), I want to watch the reaction of three ETF's:
GLD (Gold ETF) is currently up 4.16 to 161.75
SLV (Silver ETF) is currently up 1.97 to 31.73
TLT (30 year Treasury) is currently down 2.21 to 116.71
Assuming all three move higher when the market falls in a flight to safety, the opposite should hold true when the market rises. Right now, the Treasury is acting correctly, as stocks are seen as a safer bet...Gold and Silver are completely out of whack. They should be moving lower, not higher, which tells me we have some sort of market maker driven short squeeze going on in the metals.
GLD (Gold ETF) is currently up 4.16 to 161.75
SLV (Silver ETF) is currently up 1.97 to 31.73
TLT (30 year Treasury) is currently down 2.21 to 116.71
Assuming all three move higher when the market falls in a flight to safety, the opposite should hold true when the market rises. Right now, the Treasury is acting correctly, as stocks are seen as a safer bet...Gold and Silver are completely out of whack. They should be moving lower, not higher, which tells me we have some sort of market maker driven short squeeze going on in the metals.
Walgreens puts nail in coffin of Express Scripts partnership...
Walgreen semi-officially put a nail in the coffin of its contract with Express Scripts, sending shares sliding.
“There has been no substantive progress in the contract-renewal negotiations” with Express Scripts, the company said today. Walgreen already has said it planned to end its drug contract with Express Scripts after the end of this year.
The issue has created an overhang for Walgreen shares. Walgreen has said it generates about $5.3 billion in annual sales from its contract with Express Scripts. Now the pharmacists will have to steer people with Express Scripts drug-coverage cards to other retail outlets.
Walgreen says today it’s working with a number of partners to explore all options so that its partners’ employees and members retain access to Walgreen services. But with Express Scripts’s plans to buy fellow pharmacy-benefit manager Medco, investors have been worried Walgreen will be left with fewer alternate partners.
Both stocks have taken a hit as a result of this.
“There has been no substantive progress in the contract-renewal negotiations” with Express Scripts, the company said today. Walgreen already has said it planned to end its drug contract with Express Scripts after the end of this year.
The issue has created an overhang for Walgreen shares. Walgreen has said it generates about $5.3 billion in annual sales from its contract with Express Scripts. Now the pharmacists will have to steer people with Express Scripts drug-coverage cards to other retail outlets.
Walgreen says today it’s working with a number of partners to explore all options so that its partners’ employees and members retain access to Walgreen services. But with Express Scripts’s plans to buy fellow pharmacy-benefit manager Medco, investors have been worried Walgreen will be left with fewer alternate partners.
Both stocks have taken a hit as a result of this.
Perrigo hitting new highs...AGAIN...
Perrigo (PRGO) is htting new highs this morning as news comes out stating the company is increasing its distribution in China.
PRGO is up 5.04 to 100.02
PRGO is up 5.04 to 100.02
15 minutes in....
Stocks are rallying across the board.
Dow +197
Nas +34
S&P +20 to 1183
So, we're up 400 points in the Dow since Friday...all 30 Dow stocks are higher.
Dow +197
Nas +34
S&P +20 to 1183
So, we're up 400 points in the Dow since Friday...all 30 Dow stocks are higher.
Corporate Bond...
This corporate bond just came across my desk...
Goldman Sachs
5.625% coupon
Maturity Date: 1/15/17
Price $101.00
Yield to Maturity 5.43%
Current Yield 5.56%
S&P Rating A-
Moody's Rating A2
Fitch Rating A
In other words, it costs you $101,000 to buy 100 bonds, and you would get income of $5,625 per year
Goldman Sachs
5.625% coupon
Maturity Date: 1/15/17
Price $101.00
Yield to Maturity 5.43%
Current Yield 5.56%
S&P Rating A-
Moody's Rating A2
Fitch Rating A
In other words, it costs you $101,000 to buy 100 bonds, and you would get income of $5,625 per year
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.
AMC Networks Inc. (NASDAQ: AMCX) Started as Sell at Stifel Nicolaus.
Ashford Hospitality Trust Inc. (NYSE: AHT) Started as Outperform at Credit Suisse.
Bunge Limited (NYSE: BG) Raised to Buy at Citigroup.
Citi Trends, Inc. (NASDAQ: CTRN) named Bear of the Day at Zacks.
DENTSPLY International (NASDAQ: XRAY) named Bull of the Day at Zacks.
Eastman Kodak Co. (NYSE: EK) Reiterated Hold at Argus.
Equity One Inc. (NYSE: EQY) Raised to Hold at Citigroup.
F5 Networks, Inc. (NASDAQ: FFIV) Started as Hold at Jefferies.
Ivanhoe Mines Ltd. (NYSE: IVN) Raised to Outperform at Credit Suisse.
Maidenform Brands, Inc. (NYSE: MFB) named Value stock of the day at Zacks.
Precision Drilling Corporation (NYSE: PDS) Started as Outperform at Credit Suisse.
Riverbed Technology, Inc. (NASDAQ: RVBD) Started as Underperform at Jefferies.
Ryanair Holdings plc (NASDAQ: RYAAY) Cut to Neutral at Goldman Sachs.
Sanderson Farms, Inc. (NASDAQ: SAFM) Added to Conviction Buy List at Goldman Sachs.
Tudou Holdings Limited (NASDAQ: TUDO) Started as Buy at Deutsche Bank.
AMC Networks Inc. (NASDAQ: AMCX) Started as Sell at Stifel Nicolaus.
Ashford Hospitality Trust Inc. (NYSE: AHT) Started as Outperform at Credit Suisse.
Bunge Limited (NYSE: BG) Raised to Buy at Citigroup.
Citi Trends, Inc. (NASDAQ: CTRN) named Bear of the Day at Zacks.
DENTSPLY International (NASDAQ: XRAY) named Bull of the Day at Zacks.
Eastman Kodak Co. (NYSE: EK) Reiterated Hold at Argus.
Equity One Inc. (NYSE: EQY) Raised to Hold at Citigroup.
F5 Networks, Inc. (NASDAQ: FFIV) Started as Hold at Jefferies.
Ivanhoe Mines Ltd. (NYSE: IVN) Raised to Outperform at Credit Suisse.
Maidenform Brands, Inc. (NYSE: MFB) named Value stock of the day at Zacks.
Precision Drilling Corporation (NYSE: PDS) Started as Outperform at Credit Suisse.
Riverbed Technology, Inc. (NASDAQ: RVBD) Started as Underperform at Jefferies.
Ryanair Holdings plc (NASDAQ: RYAAY) Cut to Neutral at Goldman Sachs.
Sanderson Farms, Inc. (NASDAQ: SAFM) Added to Conviction Buy List at Goldman Sachs.
Tudou Holdings Limited (NASDAQ: TUDO) Started as Buy at Deutsche Bank.
And once again, everything is rosy....
Stocks set to open substantially higher this morning as optimism is growing that Europe will get its act together.
The volatility is getting a little tiring...but let's see what happens.
The volatility is getting a little tiring...but let's see what happens.
Gold and Silver looking for a bounce....
Gold and Silver are both higher this morning in what looks to be a short-covering rally. Prior to the last few weeks, Gold and Silver had been seen as a defensive move and were typically going in the opposite direction as stocks.
This morning both are heading higher while the market looks higher as well.
This morning both are heading higher while the market looks higher as well.
Apple slashing iPad orders...
According to Bloomberg, JPMorgan Chase & Co. filed a report claiming that Apple is slashing holiday orders for iPad components by 25%. The move would decrease the number of manufactured units from 17 million in the third quarter to 13 million for the end of the year.
Bloomberg reports that the information comes from several supply-chain vendors and that it marks the first time analysts have seen Apple make a cut of this magnitude. The affected companies, however, were not mentioned.
Despite the slash, JPMorgan isn't planning on lowering projections for the third and fourth quarters, which stands between 10.9 million and 12 million units shipped.
Bloomberg reports that the information comes from several supply-chain vendors and that it marks the first time analysts have seen Apple make a cut of this magnitude. The affected companies, however, were not mentioned.
Despite the slash, JPMorgan isn't planning on lowering projections for the third and fourth quarters, which stands between 10.9 million and 12 million units shipped.
Starbucks thinking about selling beer and wine...
Shares of Starbucks (SBUX) are making a premarket move, up 2.3%, as investors start to lump SBUX into their pile of global stocks with European and Asia growth potential.
On the homefront, the company is tinkering on a small-scale with a new formula to drive profits: beer and wine sales.
On the homefront, the company is tinkering on a small-scale with a new formula to drive profits: beer and wine sales.
BAE to cut 3,000 jobs...
Europe's biggest defense contractor BAE Systems said it will cut up to 3,000 jobs in Britain as smaller global defense budgets hit orders for its fighter jets.
The company, which is Britain's biggest manufacturer, said the four partner nations in the Eurofighter Typhoon program -- the UK, Germany, Italy and Spain -- were slowing production rates to help ease their budget pressures, affecting the workload at a number of sites.
The company, which is Britain's biggest manufacturer, said the four partner nations in the Eurofighter Typhoon program -- the UK, Germany, Italy and Spain -- were slowing production rates to help ease their budget pressures, affecting the workload at a number of sites.
Deutsche Bank likes Allscripts...
Deutsche Bank pounds the table for Allscripts (MDRX) following meetings with management, touting the company's "attractive valuation and solid growth momentum." The firm also claims Allscripts is already generating over $200M in cross-selling synergies from its acquisition of Eclipsys.
Alscripts is leading the charge of signing up hospitals and doctor's groups to a nationwide healthcare and prescription network, where doctors can access patient's records more easily.
Here is the long term chart going back to 2004:
Alscripts is leading the charge of signing up hospitals and doctor's groups to a nationwide healthcare and prescription network, where doctors can access patient's records more easily.
Here is the long term chart going back to 2004:
Good Morning...
U.S. stock index futures are pointing to a strong open today on renewed hopes for a lasting solution to the European debt crisis.
We'll see a handful of economic reports during today's session, including the latest reading on home prices from S&P/Case-Shiller.
At 10am ET, the Conference Board's September Consumer Confidence Index is seen coming in at 46.0, compared to the August reading of 44.5.
We'll also get the monthly Richmond Fed Survey at 10am ET.
In the news: the Senate has approved a deal to avert a government shutdown, ending the latest controversial standoff between Republicans and Democrats.
We'll see a handful of economic reports during today's session, including the latest reading on home prices from S&P/Case-Shiller.
At 10am ET, the Conference Board's September Consumer Confidence Index is seen coming in at 46.0, compared to the August reading of 44.5.
We'll also get the monthly Richmond Fed Survey at 10am ET.
In the news: the Senate has approved a deal to avert a government shutdown, ending the latest controversial standoff between Republicans and Democrats.
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