Gold ETF Breaking down...at key level...

Be careful if you own Gold.  Bearish Triangle Pattern forming.  Looks like this one could accelerate lower.

Nordstrom (JWN) to open first full-line store in NYC

Nordstrom has finalized an agreement with Extell Development Company to build Nordstrom's first full-line store in New York City. This new flagship store will open along Manhattan's bustling 57th Street corridor at 225 West 57th Street, between Broadway and Seventh Avenue, in the Columbus Circle area of Manhattan. The 285,000 square-foot store is expected to open in 2018.

Vertex Pharmaceuticals (VRTX) weakness creates buying opportunity, says Piper Jaffray

After a test of Vertex's KALYDECO +VX-809 in cystic fibrosis patients indicated that the drug failed to improve lung functioning by a statistically significant amount, Piper still believes that Vertex's cystic fibrosis franchise represents a blockbuster opportunity. The firm reiterates a $75 target and Overweight rating on the stock.

Potash CEO says sees no new potash mines for five years, Reuters reports

Potash (POT) CEO Bill Doyle says he doesn't see any new potash mines beginning production between now and 2017, Reuters reports. Doyle says it takes an "enormous" amount of time to develop a new potash mine. It is unclear whether Doyle predicts no new potash mines just in Canada or globally.

Healthcare insurers retreat after Supreme Court upholds healthcare law

The Supreme Court found that the vast majority of the healthcare reform law, including its insurance mandate, is constitutional. In a 5-4 decision, the court held that Congress' taxing power under the Constitution gave it the authority to impose the mandate. The five justices who voted to uphold the law say that the law's penalty for not buying healthcare insurance is a tax. The court's majority ruled that the law's expansion of Medicaid is constitutional, but added that states who choose not to meet the law's Medicaid requirements may not be deprived of all of their Medicaid funding, according to SCOTUSblog. Instead, such states can only be deprived of new Medicaid funding, the blog quotes the court's majority as saying. Most large insurance companies fell following the court's decision. The law contains provisions that limit the profits of the insurers while placing costly mandates on them. On the other hand, hospital stocks are climbing, as the mandate is expected to help hospitals obtain more payments from poor patients. 

Healthcare Facilities should be bought on strength, says Citigroup

Citigroup said hospital stocks are the biggest beneficiary of the Supreme Court's healthcare decision and expects the group to trade materially higher. The firm said Universal Health (UHS) and HCA Holdings (HCA) have favorable assets but lower leverage than Community Health (CYH) and Tenet Healthcare (THC).

Lululemon Athletica puts active on speculation Einhorn is short

Lululemon Athletica July 55 and 60 puts are active on total put volume of 8K contracts (3K calls). July put option implied volatility is at 59, August is at 49; compared to its 26-week average of 50 according to Track Data, suggesting larger near term price movement on speculation David Einhorn is short.

Hospitals rally after healthcare law mandate upheld

Hospital stocks are climbing after the Supreme Court upheld the healthcare law's insurance mandate in a 5-4 decision. The mandate is expected to help hospitals obtain more payments from poor patients. In mid-morning trading, Tenet Healthcare (THC) jumped 6.63% to $5.31, Community Health (CYH) rallied 5.22% to $26.82, HCA Holdings (HCA) rallied 7.37% to $28.57, and LifePoint Hospitals (LPNT) rallied 5.20% to $40.47.

Obamacare Upheld by Supreme Court...

In a victory for President Barack Obama, the Supreme Court decided to uphold his signature health care law's individual insurance mandate in a 5-4 decision, upending speculation after hostile-seeming oral arguments in March that the justices would overturn the law. The mandate has been upheld as a tax, with Chief Justice John Roberts, a Bush appointee, joining the liberal wing of the court. Tom Goldstein of SCOTUSblog says Roberts' vote "saved" the Affordable Care Act.

Really???

Google Inc. (GOOG). The internet search company expects to roll out a consumer version of its electronic eyewear that can live-stream images and audio and perform computing tasks in less than two years, though it stopped short of putting a price tag on the "smart" glasses. Google Glass, as the technology is known, will be sold to consumers at a price "significantly" lower than the $1,500 that the company is selling it to U.S.-based software developers from early next year, Google co-founder Sergey Brin said.

Smart Glasses for Idiots!!!  I can see idiots driving a car while surfing the internet on their "smart glasses."

This one looks like a good short...

Progress Software Corp. (PRGS). The business software maker reported second quarter adjusted earnings of 21 cents per share on revenue of $114.6 million. Due to continued anticipated disruption, the company is not providing guidance for the third quarter ending August 31, 2012. For fourth-quarter it expects core revenue to be in the range of $90 to $95 million.

Try to read this earnings release....Unbelievably inconsistent...No guidance for next quarter (Q3), but guidance for Q4...What???   I see this one heading MUCH lower.

News Corp board approves company split - source

The board of News Corp approved in principle splitting the $60 billion media conglomerate into separate publishing and entertainment businesses, a person familiar with the situation said on Thursday.

Ouch...

The New York Times says the losses from JPMorgan Chase’s (JPM) derivatives trades may reach as high as $9 billion, compared to initial estimates of about $2 billion.

JPM is trading down 1.25 to 35.52 premarket.

BlackBerry maker's cash burn emerges as pressing concern

On Thursday, RIM is expected to post an adjusted loss of 8 cents a share in the three months to June 2, according to the average estimate of 37 analysts polled by Reuters. Revenue is expected to come in at $3.15 billion, a 35 percent decline from a year earlier.

Earnings Due today...

Family Dollar (FDO) is among the companies out with earnings this morning, along with American Greetings (AM) and Schnitzer Steel (SCHN). After the bell, we’ll see widely-watched quarterly reports from beleaguered BlackBerry maker Research In Motion (RIMM) and athletic footwear and apparel maker Nike (NKE). Consulting firm Accenture (ACN) is also scheduled to report after the bell.

Good Morning....

Wall Street looks set to open lower as divisions among the region’s leaders fuelled hopes of concrete measures at the latest European Union summit to tackle the region's debilitating debt crisis. Economic data scheduled for release includes first-quarter real GDP numbers, corporate profits and initial jobless claims. The euro hit a three-week low and European shares fell, led by weaker banking stocks. Asian indices rounded out mixed. Oil and gold trading lower.

Stocks close higher....

Dow +92.34
Nas + 21.26
S&P +11.86


Nice day for Pharmaceuticals...rough day for Restaurant stocks....

Google Nexus 7 to be available starting at $199

Purchasers of the device will also get $25 to use on Google Play, a Transformers Movie, a book ,and several magazines for free. The device will start shipping in mid-July.

Google introduces 7-inch tablet called Nexus 7

The device was built in partnership with computer company ASUS, will run Jelly Bean, is optimized for Google Play, and is "super-thin," Google says. Games are "extremely fast and smooth" on the tablet, Google says, adding that its battery will support up to nine hours of video playback. It uses a Tegra 3 chipset and a 1280x800 HD Display, and has the portability of a paperback book, the company added.

Arena diet dug Lorcaserin approved by FDA, Bloomberg says

Arena Pharmaceuticals trading halted, pending news

Note today is the FDA action date for the company's diet drug. :

Germany's Linde eyeing Lincare Holdings, FT Alphaville reports

Suitors are eyeing Lincare Holdings, a Florida-based provider of oxygen, respiratory and other chronic therapy services to patients in the home, sources tell the FT's Alphaville. Germany's Linde is said to be leading the bidding, and the sources say the purchase price is potentially $40 or more per share, valuing Lincare at about $3.4B.

Microsoft says tablets will outsell PCs in 2013, Reghardware reports

Microsoft (MSFT) says Windows 8 will be the driving force that shifts sales to tablets versus PCs in 2013, according to Reghardware.com.

Exxon Mobil CEO says domestic natural gas prices are too low, Reuters says

Exxon Mobil (XOM) CEO Rex Tillerson said U.S. natural gas prices are not sustainable for the energy industry to cover the cost of finding and producing new supply, reports Reuters. In a presentation at the council of Foreign Relations, Tillerson said "we are all losing our shirts today."

Chipotle (CMG) Q2 revenues trending below estimates, says ITG

ITG said Chipotle Q2 revenues are trending at $700M, below consensus of $706M, on continued strong check and traffic growth.

CMG is down $20 to $395.25 this morning....

U.S. pending homes sales index rebounded 5.9% to 101.1 in May

U.S. pending homes sales index rebounded 5.9% to 101.1 in May, erasing the 5.5% drop in April to 95.5. This matches March's level which was the highest since April 2010. The improvement is consistent with some generally more positive housing data reported this week. The index was up in each of the four regions surveyed, paced by the 14.5% surge in the West. On an annual basis, the index is up 15.3% y/y versus 14.7% previously.

Entropic Communications (ENTR) sees upside to revenue and EPS in Q2

Entropic Communications announced expected revenue in Q2 of 2012 will be stronger than the company's previous outlook, which was provided on April 24. Entropic expects to release financial results for Q2 on August 1. At that time, the company will review its quarterly results and provide an outlook for Q3 of 2012.

The stock is up to $5 from a close of $4.08 yesterday....

Perrigo (PRGO) receives FDA approval and launches new products

Perrigo announced that it has received final approval from the U.S. Food and Drug Administration for its abbreviated new drug application for clindamycin phosphate and benzoyl peroxide 1.2% / 5% topical gel, the generic equivalent of Duac Gel. Perrigo acquired the ANDA in 2009, transferred production to a Perrigo manufacturing facility, and submitted an amendment to the ANDA, which was the first submission with a paragraph IV certification, Perrigo may be entitled to 180-days of marketing exclusivity and FDA has deferred determining Perrigo's exclusivity period until there is another ANDA in condition for approval. Patent litigation for this product was dismissed with prejudice in 2009. Perrigo has commenced shipment of the product.

O'Reilly Automotive (ORLY) sees Q2 EPS at lower end of $1.13-$1.17 range Q2...consensus is $1.19.

O'Reilly Automotive lowers Q2 SSS guidance to 2%-2.5% from prior 3%-5%

Greg Henlsee, CEO and Co-President stated, "Our previously announced second quarter comparable store sales guidance reflected our slow start to the quarter in April due, we believed, to the shift of some business into the first quarter as a result of the early spring weather in many of our markets, and we expected sales trends would stabilize as the quarter progressed. We saw improved comparable store sales results for the month of May; however, comparable store sales in June were below our expectations, and we now expect comparable store sales for the second quarter to finish in the range of 2.0% to 2.5%."

Zynga (ZNGA) price target lowered to $9 from $13 at Piper Jaffray

Piper Jaffray believes Zynga made no progress in addressing key investor concerns at its event yesterday, but continues to feel the stock is undervalued at current levels. The firm lowered its price target for shares and keeps an Overweight rating on the name. :theflyonthewall.com

Arena Pharmaceuticals (ARNA) shares rally ahead of PDUFA

Shares of Arena Pharmaceuticals are up huge in the last week ahead of today's PDUFA date for the company's obesity drug Lorcaserin. Piper attributes a lot of the share volume to retail investors, and points out Arena is a heavily shorted name. Piper believes Lorcaserin is well positioned to penetrate the large global obesity market and sees further stock upside should the FDA approve the drug.

BEFORE THE BELL

U.S. stock index futures pointed to a mixed open as investors remained on the sidelines ahead of the June 28-29 EU Summit, which is expected to do little to resolve the region’s debt crisis. Major economic data like durable goods and pending home sales are scheduled to be released. Best Buy Co Inc will be in focus after sources said it is working with banks including Credit Suisse to explore a potential private takeover of the world's largest consumer electronics retailer. European shares surrendered most of their early gains, with cyclical shares losing ground. Most Asian shares ended higher. Oil and gold were lower.


TOP NEWS


• Europe's leaders at odds before summit

European leaders sound unusually divided before a high-stakes summit, with Germany's Angela Merkel saying total debt liability would not be shared in her lifetime and giving little support to Italian and Spanish pleas for immediate crisis action.

• Judge halts sales of Samsung Galaxy Tab in U.S.

A U.S. judge on Tuesday backed Apple Inc's request to stop Samsung Electronics selling its Galaxy Tab 10.1 tablet in the United States, giving the iPhone maker a significant win in the global smartphone and tablet patent wars.

• Planned Google tablet to rival Amazon

Google Inc will soon unveil a tablet co-branded with Taiwan's Asustek Computer Inc and priced to compete with Amazon's Kindle Fire device, an Asustek executive said.

NewsCorp. to Split company....

Word is that NewsCorp. (NWS) will announce on Thursday that they will split the company into multiple units in an effort to free up value to investors.

Las Vegas Sands, Wynn weakness creates buying opporutnity, says JPMorgan

After stocks with exposure to Macau fell following changes to Chinese visa and overseas credit card purchase rules, JPMorgan contends that the stocks' weakness creates a buying opportunity. The firm thinks that the increase in visa application time is likely to be temporary, while the card limit adjustment is not new news. JPMorgan believes that Las Vegas Sands and Wynn Resorts are attractive at current levels.

Fertilizer stocks climb as corn price hits highest level since November

Fertilizer stocks are advancing after the price of new corn rose 2% earlier today to hit its highest level since early November, according to Reuters. The gain in the price of corn came after the government reported greater than expected damage to corn crops yesterday. Corn rose by the maximum amount of 40c per bushel yesterday. Meanwhile, fertilizer makers may also be getting a lift from an upbeat note issued earlier today by research firm Macquarie. Fertilizer companies should be able to significantly increase their dividends, said the firm, which maintained Outperform ratings on Agrium (AGU), Mosaic (MOS) and Potash Corp (POT). All three of those stocks, along with CF Industries (CF), are rising significantly in early trading. :theflyonthewall

Coinstar (CSTR) acquisition positive, says B. Riley

After Coinstar agreed to buy NCR's DVD kiosks (Blockbuster Express), B. Riley believes that the deal removes a major competitive threat from the market, drives penetration of key grocery partners and could help seed new international markets for Coinstar. The firm maintains a $115 target and Buy rating on Coinstar.

Research in Motion (RIMM) should report weaker than expected results, says Sterne Agee

Sterne Agee expects Research in Motion to report a slight miss for its May quarter. After conducting supply chain checks, the firm anticipates that the company will report a larger than anticipated operating loss for its August quarter, and it maintains a Neutral rating on the shares.

Booz Allen awarded $73.1M contract to support U.S. Department of Energy agency

Booz Allen Hamilton announced it has been awarded a Cost Plus Fixed Fee contract to support the U.S. Department of Energy, or DOE, Advanced Research Projects Agency - Energy. Booz Allen will provide ARPA-E with Scientific, Engineering, Technical, Professional, Financial, and Administrative assistance. The five year contract is valued at $73.1M.

We're Back!!!

The StreetWise Investor is Back online.  Tell your friends!!!

Stocks fall in last hour....

The volatility continues...stocks slip into the close.

Dow -190
Nas -46
S&P -20


While not a worrying issue at the moment, Fitch says the broad outlook for the U.S. banking industry could worsen "unless the eurozone debt crisis is resolved in a timely and orderly manner." This might be the reason for the late day selloff.

Rambus loses case...plummets 60%...

Rambus (RMBS -60.4%) resumes trading after being halted in the wake of a federal jury's ruling against the company in a case in which it had alleged Micron (MU) and Hynix had conspired to prevent its computer memory technology from becoming an industry standard. Micron shares, also halted, now trading +21.8%.

20 Nice Dividend paying stocks....

A Credit Suisse list of 20 stocks that reward investors with greater dividend payments than most bonds: Coca-Cola, McDonald's, General Mills, Pepsico, PG, J&J, Abbott, Kimberly Clark, Con Ed, Pfizer, Bristol Myers, Southern, Merck, Philip Morris, Progress, Duke, Eli Lilly, Verizon, AT&T, Altria. Avg. yield: 4.2%. Avg. YTD returns on the underlying stock: 13.3%.

At 2:45 pm....

Stocks have been improving as the day wears on...

Dow -16
Nas -4
S&P -2 to 1255

Leaders on the day:

Green Mountain +5.01
Fusion IO +3.37
Interdigital +2.55
Transocean Offshore +2.12
Carbo Ceramics +4.99
Walter Energy +2.47

Target executing well...

Target's (TGT +1.2%) well-received Q3 report highlights that many of the firm's initiatives such as its 5% credit card discount program and higher-end Missoni line launch were spot-on. On tap now: Navigating around a crucial Black Friday with a grassroots online protest against its Thanksgiving Day opening brewing and a scarily unstable website that keeps execs sweating out the potential for an ill-timed outage.

Abercrombie & Fitch posts higher sales but not much earnings growth...

Abercrombie & Fitch (ANF). The teen clothes retailer posted a rise in quarterly profit as sales in America offset some slowdown in international businesses. For the third quarter, the company earned $50.9 million, or 57 cents a share, compared with $50 million or 56 cents a share last year. Sales rose 21 percent to $1.08 billion.

The stock is down 7.64 to 48.12 today.

Noon update...

At noon stocks are lower, but there are several story stocks bucking the trend.

Dow -67
Nas -14
S&P -7 to 1250


Looks like this market is just stuck right here as investors have stepped to the sidelines and are letting traders do their thing.

Oil services are about the only group heading higher.

Today's Upgrades and Downgrades...

These are some of Wednesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Activision Blizzard Inc. (NASDAQ: ATVI) Reiterated Buy with $18 target at Argus.

Air Products & Chemicals Inc. (NYSE: APD) Reiterated Buy at BofA/ML.

Chimera Investment Corporation (NYSE: CIM) Cut to Sell at Wunderlich.

Dell Inc. (NASDAQ: DELL) Maintained Underperform at Credit Suisse; Reiterated Buy with $22 target at Argus.

Dick’s Sporting Goods Inc. (NYSE: DKS) Raised to Conviction Buy List at Goldman Sachs.

Gentiva Health Services (NASDAQ: GTIV) named Bear of the Day at Zacks.

Geron Corporation (NASDAQ: GERN) Cut to Neutral at JPMorgan.

Plains All American Pipeline, L.P. (NYSE: PAA) named Value stock of the day at Zacks.

Research in Motion Ltd. (NASDAQ: RIMM) Raised to Neutral from Sell at Goldman Sachs.

Sunoco Logistics, LP (NYSE: SXL) named Bull of the Day at Zacks.

TIBCO Software Inc. (NASDAQ: TIBX) Started as Market Perform at BMO Capital; Started as Market Outperform at JMP Securities.

Green Mountain moving higher again...

Green Mountain Coffee (GMCR) is up again this morning after rising 10% yesterday...this in the wake of last week's post-earnings crash, even as it's reported major hedge funds pared their stakes in the company. With 23.2% of Green Mountain's float shorted as of Oct. 31, and many of those shorts now sitting on big profits, more volatility could be on the way.

Goldman likes Dick's Sporting Goods...

Goldman Sachs adds Dick's Sporting Goods (DKS) to its Conviction Buy List citing strong unit growth, margin drivers, and a $0.50/share dividend it says represents a "shift to shareholder-friendly capital allocation." Analysts with the firm line increased their price target $4 to $45.

Target beats expectations...

Target Corp. reported a 3.7 percent increase in third-quarter profits, helped by solid spending and improvement in its credit card business.

The Minneapolis discounter said Wednesday that it earned $555 million, or 82 cents per share, in the three-month period ended Oct. 29. That compares with $535 million, or 74 cents per share, in the year-ago period. Revenue rose 5.4 percent to $16.05 billion. Analysts had expected 74 cents per share on revenue of $16.31 billion, according to FactSet.

Revenue at stores opened at least a year — an indicator of a retailer's health — rose 4.3 percent in the quarter.

"We're very pleased with our third-quarter financial results," said Gregg Steinhafel, Target's chairman, president and chief executive in a statement. "We're confident that we have the right strategy and team in place to drive continued strong performance this holiday season and well into the future."

Tuesday's recap...

Stocks showed some resilience Tuesday, erasing losses in the afternoon to finish higher amid faster turnover.  The Nasdaq added 1.1%, the S&P 500 0.5% and the NYSE composite 0.2%. Volume increased on both major exchanges from Monday's anemic levels.

Stocks rallied on news that Mario Monti, prime minister-designate for debt-wracked Italy, had scored broad support and agreement on cutbacks, and that he's ready to present his new government Wednesday.

U.S. economic news also provided a boost to the market. October retail sales and the New York Fed's manufacturing index both bested forecasts. The producer price index fell more than expected, suggesting the Fed could have more room for easing.

The Nasdaq closed just below its 200-day moving average. It's been struggling to hold over that level in the prior three weeks, falling back below the line four times but finding support at the 2600 level.

It's been a similar story for the S&P 500, which closed under its 200-day line Tuesday. The S&P 500 has been finding support near the 1220 to 1230 level, but meeting resistance at its 200-day average.

In other words, it's about what you would expect for a market uptrend that's under pressure.

Despite Tuesday's gains, Nasdaq stocks making new lows outnumbered those making new highs. NYSE new highs topped new lows, though.

Home Depot Beats expectations...

Home Depot (HD): Q3 EPS of $0.60 beats by $0.02. Revenue of $17.3B (+4.4% year over year) beats by $200M. Comparable store sales growth at 4.2%. Sees FY11 EPS at $2.38.

Number of customer transactions increased 1.2% year over year, while the average ticket was up 3%. The company reaffirms full-year sales growth guidance of 2.5%. Increases its quarterly dividend by 16% to $0.29/share, and sets a 50% dividend payout target.


HD is currently down 0.21 to 38.04

Kindle Fire starts shipping today...

As Kindle Fire deliveries kick off to enormous consumer buzz (albeit lukewarm reviews), analysts are making optimistic forecasts about the device's long-term impact. JPMorgan's Doug Anmuth expects 20M Fire shipments in 2012, and $8B in total Kindle-related sales in 2013. Anmuth's bullishness on the Fire's adoption has led him to lift his PT for Amazon (AMZN) to $250 from $230.

Credit Card delinquencies rise...

Capital One (COF) says delinquencies rose in October at its U.S. credit card business for the third straight month, to 3.73% from 3.65%. U.S. charge-offs edged up to 3.96% from 3.9%; internationally, charge-offs rose to 6.24% from 5.65%.

Today's Upgrades and Downgrades..

These are some of Tuesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Advance Auto Parts Inc. (NYSE: AAP) Cut to Hold at Argus.

Agilent Technologies Inc. (NYSE: A) Raised to Buy at BofA/ML.

Alimera Sciences, Inc. (NASDAQ: ALIM) Cut to Neutral with $2 target at Credit Suisse.

CenterPoint Energy, Inc. (NYSE: CNP) Cut to Neutral at BofA/ML.

Chimera Investment Corporation (NYSE: CIM) Reiterated Outperform at Credit Suisse.

Coldwater Creek Inc. (NASDAQ: CWTR) Added to Strong Sell List at Zacks.

Goodyear Tire & Rubber Co. (NYSE: GT) named Bull of the Day at Zacks.

Kellogg Company (NYSE: K) Cut to Sell as Bear of the Day at Zacks.

Lowe’s Companies Inc. (NYSE: LOW) Raised target to $28 from $25 at Argus.

Macy’s Inc. (NYSE: M) named value stock of the day at Zacks.

Northeast Utilities (NYSE: NU) Raised to Buy at BofA/ML.

NSTAR (NYSE: NST) Raised to Buy at BofA/ML.

Salesforce.com Inc. (NYSE: CRM) Reiterated Neutral at Credit Suisse.

Sourcefire, Inc. (NASDAQ: FIRE) Initiated as Buy at BofA/ML.

Monday's summary...

Stocks fell Monday as worries over Europe's debt crisis again took center stage. But the low volume softened the blow of the selling.


The S&P 500 lost 1% and the Nasdaq 0.8%. Hurt largely by financials, the NYSE composite dropped 1.1%. The Dow Jones industrial average fell a milder 0.6%, thanks in part to Boeing's (BA) 1.5% gain. The aerospace giant won a record $18 billion passenger jet order from Emirates.


Volume fell, even though Veterans Day kept trading light on Friday. In fact, volume was the lowest of the year on both major exchanges. The low trade helped the market avoid another distribution day, which would signal more institutional selling than has already occurred in recent weeks.

Headlines out of Europe have helped and hurt the market. On Monday, there was a round of bad news. Yields on five-year Italian bonds spiked to new euro-era highs, while 10-year bonds rose to nearly 7%. Spanish bond yields also rose.

German Chancellor Angela Merkel said that Europe is facing its toughest challenge since World War II. Industrial output in the euro zone fell 2% in September — the most since early 2009.

The rocky environment has led to a mixed market and tough trading conditions. The number of distribution days on the market is relatively high. But leading stocks continue to act well. Many leaders from various industries have staged breakouts.

Tibco Software (TIBX) joined the club Monday. It cleared a cup-with-handle base. The stock closed off its session high, but still above the 29.66 buy point.

VMware (VMW) cleared a tight trading area in heavy volume Monday. The stock is shaping a base with a 111.53 buy point. VMware's Relative Strength line is at a new high.

Alexion Pharmaceuticals (ALXN) found support at its 50-day moving average in the heaviest volume in more than a month. The stock breached the line last week, but only moderately and in light volume.

Lowe's losing business to Home Depot...

Lowe's Cos Inc (LOW). The company saw its quarterly profit fall more than 40 percent as the home improvement retailer keeps losing business to market leader Home Depot Inc (HD). For the third quarter, it earned $225 million, or 18 cents a share, compared with $404 million, or 29 cents a share last year. Sales increased 2.3 percent to $11.9 billion. 

Friday's recap...

Stocks jogged ahead Friday in quiet trade, with several indexes erasing all of the week's losses.

The S&P 500 and the NYSE composite added 1.9% and 2.1%, respectively. The Nasdaq tacked on 2%. The Dow rose 2.2% as all 30 components rose. The average IBD 50 stock was up 2.2%.Volume fell sharply across the board.

With Veterans Day falling on a Friday, it's reasonable to assume some fund managers started the weekend early, resulting in less trading. The bond market was closed Friday.

The market remains a mixed bag — in an uptrend but under pressure. With only seven weeks of trade left this year, the time to redeem this stingy year is running out.

On the plus side, the indexes have recovered nicely from the year's lows on Oct. 4. The Nasdaq rose as much as 19.8% from the low and has given back only a few percentage points.

More breakouts among top-rated stocks have appeared since the Oct. 12 follow-through day.

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.

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.

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...

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.

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.

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:

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

Stocks reporting after the close...

Pegasystems (PEGA)
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. 

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.

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.

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.

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.

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...

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.

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.

Sorry...had to take care of some pressing things yesterday...

but I'm back today...

Last update of the day...

I have to leave the office...

Never short a dull market!!!  That's an old Wall Street adage.  Well, this might be the dullest day in a long time for this market....and sure enough, stocks are slowly starting to strengthen...

Dow -3
Nas -8
S&P unch

We might see a nice rally here in the last two hours...

Universal Display gives back Friday's gains...

Universal Display (PANL -10.7%) gives back Friday's gains following a downbeat note from Canaccord. The firm throws cold water on hopes Apple will use Universal's OLED display technology (the result of a recent patent filing) in the near-term, and also expresses concerns about a European patent license hearing.


PANL announces earnings after the bell on Tuesday...so we'll know very quickly if Cannacord knows what they are talking about.  The revenue growth on this stock is special...

25-34 year olds staying at home...

Though it's not yet a major economic indicator, it's a sign of the times that the percentage of 25-34 year olds living with their parents has skyrocketed since 2008 with no signs of tailing off. The stay-at-home chart shows 14.2% of the nation's 42M people in the age group are opting to live at home, up from 10.6% prior to the economic downturn.

Rosetta Stones continues to fall...

Rosetta Stone (RST -10.5%) extends its losses from Friday after reporting a disappointing Q3 on weak bookings. The stock has netted a 32% loss over just the past two sessions, and is down over 70% since hitting its 52-week high in November of last year.

Barnes and Noble unveils latest Nook reader...

The market for tablets based on Google’s (GOOG) “Android” software has a new contestant, the “Nook Tablet” from Barnes & Noble (BKS), announced this morning, as widely expected was unveiled, selling at $249, as Amazon.com’s (AMZN) “Kindle Fire” tablet gets ready to go on sale in a week from now.

The device can be pre-ordered now, and will be available November 18th, three days after the Fire ships.

The Nook Tablet Is the same 8.1-inch height as B&N’s existing “Nook Color” reader, also based on Android, with the same 16-million color, 1024 x 600 pixel resolution. And like the Nook Color, it has a WiFi connection, no 3G cellular option. (Amazon’s Fire also dropped the option of a 3G connection. Amazon’s non-Android e-readers, the Kindle Touch and Kindle Keyboard, feature 3G connections for $149 or $139.)

However, the Tablet also features a microphone, a 1-gigahertz Texas Instruments (TXN) “OMAP” microprocessor, faster than the Color’s 800 megahertz part, and a gigabyte of RAM, double the Color’s spec.

B&N said the Tablet will get 11.5 hours of reading time, better than the 8 hours quoted for the Color.

Featuring 16-gigabytes of memory, the Nook Tablet is $50 more than Amazon’s Fire, which contains only 8 gigs. The Tablet has an SD card slot to expand the memory count, whereas Amazon urges customers to “forget the memory,” as Amazon offers to store all content purchased with Amazon “in the cloud,” on Amazon servers.

The price of the Color was dropped to $199 from $249, and B&N’s black-and-white e-reader, the “Nook Simple Touch,” was cut from $139 to $99. That device matches the price of the cheaper version of Amazon’s Kindle Touch.

Shares of Barnes & Noble are down a penny at $11.60. Shares of Amazon.com are down $1.01, or half a percent, at $215.47.

Volume has dried up....

And stocks seem to have no direction.

Dow -52
Nas -26
S&P -6

Gold and silver are up slightly. Everything else is mixed.

General Dynamics buys Force Protection...

General Dynamics (GD). The defense contractor said it agreed to acquire smaller rival Force Protection Inc (FRPT) for $360 million. The offer price of $5.52 a share is 31 percent more than Force Protection shares' Friday closing price of $4.21.

MF Global CEO Jon Corzine quits as big bet fails...

Jon Corzine, one of Wall Street's best-known stars, stepped down as MF Global Holdings Ltd's chairman and chief executive after his bets on European debt drove the futures brokerage into bankruptcy.

Word is they were comingling clients funds with their own...and that they were 33-1 leveraged.

Dish Network Q3 profit misses on subscriber losses...

Satellite television provider's third-quarter profit missed estimates on deeper-than-anticipated subscriber losses as customers canceled their service or switched to rivals.

The second-largest U.S. satellite TV provider's third-quarter profit missed estimates on deeper-than-anticipated subscriber losses as customers canceled their service or switched to rivals. It posted earnings of $186 million, or 71 cents per share, which missed Wall Street expectations of 73 cents, according to Thomson Reuters I/B/E/S.

No surprise here...

Today's Upgrades and Downgrades...

These are some of Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Alcatel-Lucent SA (NYSE: ALU) Cut to Sell at Citigroup; Cut estimates and target at Argus.

American International Group Inc. (NYSE: AIG) named as Bear of the Day at Zacks.

Delek US Holdings, Inc. (NYSE: DK) named value stock of the day at Zacks.

Groupon, Inc. (NASDAQ: GRPN) Started as Buy at Benchmark.

The Home Depot Inc. (NYSE: HD) Raised to Outperform at RBC.

ING Groep NV (NYSE: ING) Cut to Hold at Soc-Gen.

Kellogg Co. (NYSE: K) Cut to Market Perform at William Blair.

Medivation, Inc. (NASDAQ: MDVN) Raised to Outperform as Bull of the Day at Zacks.

Pier 1 Imports, Inc. (NYSE: PIR) Started as Outperform at Wells Fargo.

Quest Diagnostics Inc. (NYSE: DGX) Raised to Outperform at RBC.

Toll Brothers Inc. (NYSE: TOL) Raised to Buy at Citigroup.

Veolia Environnement S.A. (NYSE: VE) Cut to Underweight at JPMorgan.

VeriFone Systems, Inc (NYSE: PAY) Started as Buy at Citigroup.

Western Gas Partners. L.P. (NYSE: WES) Raised to Outperform at Credit Suisse.

YRC Worldwide. Inc. (NASDAQ: YRCW) Maintained Underperform and target cut to $0.05 at Credit Suisse; maintained neutral with losing share at Zacks.

Rally starting to fade...

Well, looks like the buying has dried up for now, as stocks sink back to even on the day.

Dow +10
Nas -10
S&P unch at 1252

Stocks are trading entirely on their own individual stories.

Stocks open higher....

Shaking off the Italian story, stocks are breaking higher out of the gate.

Dow +56
Nas +6
S&P +5 to 1258

Looks like the focus is shifting over to the U.S. and our company earnings.

Good morning...

Stock index futures are pointing to a slightly weaker open for Wall Street on Monday as investors remained uncertain about the outcome of a deal made by Greek politicians to approve an international bailout for Greece and grew increasingly worried about Italy’s public finances and political instability. 

Italian bond yields rose to new euro era highs on Monday as nervousness over a key parliamentary vote in the country on Tuesday mounts.

Greek Prime Minister George Papandreou sealed a deal with the opposition on a crisis coalition to approve an international bailout, but details remain thin despite an EU ultimatum for Athens to get serious about tackling its problems.

Euro zone finance ministers meet in Brussels on Monday for a regular, scheduled meeting, but are likely to discuss the ongoing turmoil in the region.

Investor's Business Daily's top 10 stocks....

Here is the latest top 10 stocks from IBD:

1. Ulta Salon & Cosmetics (ULTA)
2. Lulumon Athletica (LULU)
3. Alexion Pharmaceuticals (ALXN)
4. Rangold Resources (GOLD)
5. Questcor Pharmaceutical (QCOR)
6. Intuitive Surgical (ISRG)
7. Mastercard (MA)
8. Herbalife (HLF)
9. Yamana Gold (AUY)
10. Dollar Tree (DLTR)

Market closes lower, but mixed...

Even though the averages were lower, there were some pockets of strength out there.

Dow -61 to 11983
Nas -11 to 2686
S&P -7 to 1253

A few stocks outperformed:

Wellcare +1.10 to 54.89
Allscripts +1.22 to 20.79
Green Mountain Coffee +3.77 to 70.67
US Steel +1.37 to 27.92
Cree +2.69 to 30.57
FFive Networks +2.68 to 109.62
Starbucks +2.79 to 44.19
Universal Display +7.56 to 51.97
Groupon +6.11 to 26.11
Ulta Salon & Cosmetics +2.98 to 74.24

Should be another interesting weekend.  Have a good one!!!

Starbucks hits new highs...

Starbucks (SBUX) is hitting new highs as the coffee chain reported third-quarter earnings that squeaked by Wall Street views while revenue cleared estimates by a healthy margin.

Starbucks also raised its dividend 31% and approved a 20 million share buyback program. The stock had formed a three-weeks tight pattern after retaking a 39.49 buy point in a cup-with-handle base. The stock triggered the 8% sell rule following its initial move above that buy point.

The stock is up 1.47 to 43.98 today:

Here's a new stock to watch...

Fusion-io (FIO +7.4%) shares spike after CEO David Flynn tells CNBC the "surface hasn't even been scratched" in market penetration for the company's "revolutionizing" data storage, adding that Facebook and Apple (APPL) are part of its diversified customer base. This week, FIO reported quarterly results that beat estimates and raised its full-year revenue outlook.


Here's the chart since the stock went public back in June:

Jeffries discloses European positions...

Jefferies (JEF +0.7%) rises slightly after fully disclosing its exposure to PIIGS sovereign debt; the company claims it has a net long cash position of just $91M, and a $100M short futures position. The bulk of Jefferies long and short investments in the space involve Italian debt. However, shares are still down 18% on the week.

EU Debt crisis news...

While you were at lunch, the EU debt crisis was again solved after a top PASOK MP turns around and indicates he will vote "yes" in a confidence measure for PM Papandreou. A positive outcome means the stage is set for a coalition government to be formed as early as Monday, with snap elections avoided. The euro jumps 50 pips to $1.379. The DJIA sheds 75 points of its loss.

October Fund Flows...

October fund-flow data shows investors around the world re-embraced risk in a big way; emerging markets saw $3.5B worth of inflows, while money-market funds saw outflows of $25B. Nonetheless, investors continued to be partial to precious metals, which saw inflows of $493M.

Stocks lower on European concerns...

Well, I was hoping we were breaking away from the reliance on the European markets, but I guess not...at least not yet.

Dow -148
Nas -26
S&P -15

Groupon is currenlty up 9.25 to 29.25...the stock was priced at 20.00 on its IPO.